Cummins Inc. Quarterly report pursuant to Section 13 or 15(d)

ACQUISITIONS (Tables)

6 Months Ended

Jun. 30, 2023

Acquisitions for the six months ended June 30, 2023 and 2022, were as follows:


Entity Acquired (Dollars in millions)	Date of Acquisition	Additional Percent Interest Acquired	Payments to Former Owners		Acquisition Related Debt Retirements		Total Purchase Consideration(1)		Type of Acquisition(2)	Goodwill Acquired		Intangibles Recognized(3)
2023
Hydrogenics Corporation (Hydrogenics)	06/29/23	19%	$	287	$	48	$	335	EQUITY	$	—	$	—
Teksid Hierro de Mexico, S.A. de C.V. (Teksid MX)	04/03/23	100%	150		—		150		COMB	25		—
2022 (4)

Jacobs Vehicle Systems (Jacobs)	04/08/22	100%	$	345	$	—	$	345	COMB	$	108	$	164
Cummins Westport, Inc. (Westport JV)	02/07/22	50%	42		—		42		COMB	—		20














(1) The "Total Purchase Consideration" represents the total amount that will or is estimated to be paid to complete the acquisition. Hydrogenics entered into three non-interest-bearing promissory notes with $175 million paid on July 31, 2023, and the remaining $160 million due in three installments through 2025.
(2) All results from acquired entities were included in segment results subsequent to the acquisition date. Previously consolidated entities were accounted for as equity transactions (EQUITY). Newly consolidated entities were accounted for as business combinations (COMB).
(3) Intangible assets acquired in the business combination were mostly customer, technology and trade name related.
(4) See Note 2, "ACQUISITIONS ," of the Notes to the Consolidated Financial Statements of our 2022 Form 10-K for additional information on prior year acquisitions.