Quarterly report pursuant to Section 13 or 15(d)

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)

v3.7.0.1
ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)
 6 Months Ended
Jul. 02, 2017
Equity [Abstract]  
ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)
NOTE 10. ACCUMULATED OTHER COMPREHENSIVE LOSS
Following are the changes in accumulated other comprehensive income (loss) by component for the three months ended:
 
 
Three months ended
In millions
 
Change in
pensions and
other
postretirement
defined benefit
plans
 
Foreign
currency
translation
adjustment
 
Unrealized gain
(loss) on
marketable
securities
 
Unrealized gain
(loss) on
derivatives
 
Total
attributable to
Cummins Inc.
 
Noncontrolling
interests
 
Total other comprehensive income (loss)
Balance at April 3, 2016
 
$
(645
)
 
$
(753
)
 
$
(2
)
 
$
(17
)
 
$
(1,417
)
 
 

 
 

Other comprehensive income before reclassifications
 
 

 
 

 
 

 
 

 
 

 
 

 
 

Before tax amount
 
—

 
(207
)
 
1

 
(10
)
 
(216
)
 
$
(6
)
 
$
(222
)
Tax benefit (expense)
 
—

 
—

 
—

 
2

 
2

 
—

 
2

After tax amount
 
—

 
(207
)
 
1

 
(8
)
 
(214
)
 
(6
)
 
(220
)
Amounts reclassified from accumulated other comprehensive loss(1)(2)
 
9

 
—

 
—

 
2

 
11

 
—

 
11

Net current period other comprehensive income (loss)
 
9

 
(207
)
 
1

 
(6
)
 
(203
)
 
$
(6
)
 
$
(209
)
Balance at July 3, 2016
 
$
(636
)
 
$
(960
)
 
$
(1
)
 
$
(23
)
 
$
(1,620
)
 
 

 
 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Balance at April 2, 2017
 
$
(664
)
 
$
(1,060
)
 
$
(1
)
 
$
(7
)
 
$
(1,732
)
 
 

 
 

Other comprehensive income before reclassifications
 
 

 
 

 
 

 
 

 
 

 
 

 
 

Before tax amount
 
—

 
105

 
1

 
(2
)
 
104

 
$
1

 
$
105

Tax benefit (expense)
 
—

 
(4
)
 
(1
)
 
1

 
(4
)
 
—

 
(4
)
After tax amount
 
—

 
101

 
—

 
(1
)
 
100

 
1

 
101

Amounts reclassified from accumulated other comprehensive loss(1)(2)
 
15

 
—

 
1

 
1

 
17

 
—

 
17

Net current period other comprehensive income (loss)
 
15

 
101

 
1

 
—

 
117

 
$
1

 
$
118

Balance at July 2, 2017
 
$
(649
)
 
$
(959
)
 
$
—

 
$
(7
)
 
$
(1,615
)
 
 

 
 

____________________________________
(1) Amounts are net of tax.  
(2) Reclassifications out of accumulated other comprehensive income (loss) and the related tax effects are immaterial for separate disclosure.













Following are the changes in accumulated other comprehensive income (loss) by component for the six months ended:
 
 
 
Six months ended
In millions
 
Change in
pensions and
other
postretirement
defined benefit
plans
 
Foreign
currency
translation
adjustment
 
Unrealized gain
(loss) on
marketable
securities
 
Unrealized gain
(loss) on
derivatives
 
Total
attributable to
Cummins Inc.
 
Noncontrolling
interests
 
Total other comprehensive income (loss)
Balance at December 31, 2015
 
$
(654
)
 
$
(696
)
 
$
(2
)
 
$
4

 
$
(1,348
)
 
 

 
 

Other comprehensive income before reclassifications
 
 

 
 

 
 

 
 

 
 

 
 

 
 

Before tax amount
 
—

 
(265
)
 
1

 
(36
)
 
(300
)
 
$
(6
)
 
$
(306
)
Tax benefit (expense)
 
—

 
1

 
—

 
6

 
7

 
—

 
7

After tax amount
 
—

 
(264
)
 
1

 
(30
)
 
(293
)
 
(6
)
 
(299
)
Amounts reclassified from accumulated other comprehensive loss(1)(2)
 
18

 
—

 
—

 
3

 
21

 
—

 
21

Net current period other comprehensive income (loss)
 
18

 
(264
)
 
1

 
(27
)
 
(272
)
 
$
(6
)
 
$
(278
)
Balance at July 3, 2016
 
$
(636
)
 
$
(960
)
 
$
(1
)
 
$
(23
)
 
$
(1,620
)
 
 

 
 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Balance at December 31, 2016
 
$
(685
)
 
$
(1,127
)
 
$
(1
)
 
$
(8
)
 
$
(1,821
)
 
 

 
 

Other comprehensive income before reclassifications
 
 

 
 

 
 

 
 

 
 

 
 

 
 

Before tax amount
 
8

 
180

 
2

 
(8
)
 
182

 
$
14

 
$
196

Tax benefit (expense)
 
(3
)
 
(12
)
 
(1
)
 
3

 
(13
)
 
—

 
(13
)
After tax amount
 
5

 
168

 
1

 
(5
)
 
169

 
14

 
183

Amounts reclassified from accumulated other comprehensive loss(1)(2)
 
31

 
—

 
—

 
6

 
37

 
—

 
37

Net current period other comprehensive income (loss)
 
36

 
168

 
1

 
1

 
206

 
$
14

 
$
220

Balance at July 2, 2017
 
$
(649
)
 
$
(959
)
 
$
—

 
$
(7
)
 
$
(1,615
)
 
 

 
 


____________________________________
(1) Amounts are net of tax.  
(2) Reclassifications out of accumulated other comprehensive income (loss) and the related tax effects are immaterial for separate disclosure.