Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED BALANCE SHEETS

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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Millions
Dec. 31, 2016
Dec. 31, 2015
Current assets    
Cash and cash equivalents $ 1,120 $ 1,711
Marketable securities (Note 4) 260 100
Total cash, cash equivalents and marketable securities 1,380 1,811
Accounts and notes receivable, net    
Trade and other 2,803 2,640
Nonconsolidated equity investees 222 180
Inventories (Note 5) 2,675 2,707
Prepaid expenses and other current assets 627 609
Total current assets 7,707 7,947
Long-term assets    
Property, plant and equipment, net (Note 6) 3,800 3,745
Investments and advances related to equity method investees (Note 2) 946 975
Goodwill (Note 7) 480 482
Other intangible assets, net (Note 7) 332 328
Pension assets (Note 8) 731 735
Other assets 1,015 922
Total assets 15,011 15,134
Current liabilities    
Accounts payable (principally trade) 1,854 1,706
Loans payable (Note 9) 41 24
Commercial paper (Note 9) 212 0
Accrued compensation, benefits and retirement costs 412 409
Current portion of accrued product warranty (Note 10) 333 359
Current portion of deferred revenue 468 403
Other accrued expenses 970 863
Current maturities of long-term debt (Note 9) 35 39
Total current liabilities 4,325 3,803
Long-term liabilities    
Long-term debt (Note 9) 1,568 1,576
Postretirement benefits other than pensions (Note 8) 329 349
Pensions (Note 8) 326 298
Other liabilities and deferred revenue (Note 11) 1,289 1,358
Total liabilities 7,837 7,384
Commitments and contingencies (Note 12)
Cummins Inc. shareholders’ equity (Note 13)    
Common stock, $2.50 par value, 500 shares authorized, 222.4 and 222.4 shares issued 2,153 2,178
Retained earnings 11,040 10,322
Treasury stock, at cost, 54.2 and 47.2 shares (4,489) (3,735)
Common stock held by employee benefits trust, at cost, 0.7 and 0.9 shares (8) (11)
Accumulated other comprehensive loss (Note 14) (1,821) (1,348)
Total Cummins Inc. shareholders' equity 6,875 7,406
Noncontrolling interests (Note 16) 299 344
Total equity 7,174 7,750
Total liabilities and equity $ 15,011 $ 15,134