Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED BALANCE SHEETS

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CONDENSED CONSOLIDATED BALANCE SHEETS (USD $)
In Millions, unless otherwise specified
Sep. 30, 2012
Dec. 31, 2011
Current assets    
Cash and cash equivalents $ 1,033 $ 1,484
Marketable securities (Note 6) 239 277
Total cash, cash equivalents and marketable securities 1,272 1,761
Accounts and notes receivable, net    
Trade and other 2,266 2,252
Nonconsolidated equity investees 237 274
Inventories (Note 9) 2,570 2,141
Prepaid expenses and other current assets 770 663
Total current assets 7,115 7,091
Long-term assets    
Property, plant and equipment 5,691 5,245
Accumulated depreciation (3,134) (2,957)
Property, plant and equipment, net 2,557 2,288
Investments and advances related to equity method investees 962 838
Goodwill (Note 10) 443 339
Other intangible assets, net (Note 10) 365 227
Other assets 972 885
Total assets 12,414 11,668
Current liabilities    
Loans payable 54 28
Accounts payable (principally trade) 1,460 1,546
Current maturities of long-term debt (Note 12) 77 97
Current portion of accrued product warranty (Note 11) 406 422
Accrued compensation, benefits and retirement costs 388 511
Deferred revenue 208 208
Taxes payable (including taxes on income) 172 282
Other accrued expenses 544 563
Total current liabilities 3,309 3,657
Long-term liabilities    
Long-term debt (Note 12) 670 658
Postretirement benefits other than pensions 417 432
Other liabilities and deferred revenue 1,184 1,090
Total liabilities 5,580 5,837
Commitments and contingencies (Note 14)      
Cummins Inc. shareholders' equity    
Common stock, $2.50 par value, 500 shares authorized, 222.4 and 222.2 shares issued 2,046 2,001
Retained earnings 7,068 6,038
Treasury stock, at cost, 32.3 and 30.2 shares (1,809) (1,587)
Common stock held by employee benefits trust, at cost, 1.6 and 1.8 shares (19) (22)
Accumulated other comprehensive loss    
Defined benefit postretirement plans (694) (724)
Other (114) (214)
Total accumulated other comprehensive loss (808) (938)
Total Cummins Inc. shareholders' equity 6,478 5,492
Noncontrolling interests 356 339
Total equity 6,834 5,831
Total liabilities and equity $ 12,414 $ 11,668