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Following are the changes in accumulated other comprehensive income (loss) by component for the three months ended:
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| In millions |
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Change in pension and OPEB plans |
|
Foreign currency
translation
adjustment |
|
|
|
Unrealized gain
(loss) on
derivatives |
|
Total
attributable to
Cummins Inc. |
|
Noncontrolling
interests |
|
Total |
| Balance at June 30, 2023 |
|
$ |
(434) |
|
|
$ |
(1,581) |
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|
|
|
$ |
98
|
|
|
$ |
(1,917) |
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|
|
|
|
| Other comprehensive income (loss) before reclassifications |
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|
|
|
|
|
|
|
|
|
|
|
| Before-tax amount |
|
1
|
|
|
(154) |
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|
|
34
|
|
|
(119) |
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|
$ |
(7) |
|
|
$ |
(126) |
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| Tax expense |
|
—
|
|
|
(2) |
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|
|
|
(9) |
|
|
(11) |
|
|
—
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|
|
(11) |
|
| After-tax amount |
|
1
|
|
|
(156) |
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|
|
|
25
|
|
|
(130) |
|
|
(7) |
|
|
(137) |
|
Amounts reclassified from accumulated other comprehensive income (loss) (1)
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|
2
|
|
|
—
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|
|
|
(6) |
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|
(4) |
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—
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|
|
(4) |
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| Net current period other comprehensive income (loss) |
|
3
|
|
|
(156) |
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|
|
|
19
|
|
|
(134) |
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|
$ |
(7) |
|
|
$ |
(141) |
|
| Balance at September 30, 2023 |
|
$ |
(431) |
|
|
$ |
(1,737) |
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|
|
$ |
117
|
|
|
$ |
(2,051) |
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| Balance at June 30, 2022 |
|
$ |
(324) |
|
|
$ |
(1,426) |
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|
|
|
$ |
54 |
|
|
$ |
(1,696) |
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|
|
|
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| Other comprehensive income (loss) before reclassifications |
|
|
|
|
|
|
|
|
|
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|
|
|
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| Before-tax amount |
|
— |
|
|
(365) |
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|
|
|
51 |
|
|
(314) |
|
|
$ |
(15) |
|
|
$ |
(329) |
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| Tax benefit (expense) |
|
— |
|
|
1 |
|
|
|
|
(13) |
|
|
(12) |
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|
— |
|
|
(12) |
|
| After-tax amount |
|
— |
|
|
(364) |
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|
|
|
38 |
|
|
(326) |
|
|
(15) |
|
|
(341) |
|
Amounts reclassified from accumulated other comprehensive income (1)
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|
6 |
|
|
— |
|
|
|
|
3 |
|
|
9 |
|
|
— |
|
|
9 |
|
| Net current period other comprehensive income (loss) |
|
6 |
|
|
(364) |
|
|
|
|
41 |
|
|
(317) |
|
|
$ |
(15) |
|
|
$ |
(332) |
|
| Balance at September 30, 2022 |
|
$ |
(318) |
|
|
$ |
(1,790) |
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|
|
|
$ |
95 |
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|
$ |
(2,013) |
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(1) Amounts are net of tax. Reclassifications out of accumulated other comprehensive income (loss) and the related tax effects are immaterial for separate disclosure.
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Following are the changes in accumulated other comprehensive income (loss) by component for the nine months ended:
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| In millions |
|
Change in pension and OPEB plans |
|
Foreign currency
translation
adjustment |
|
|
|
Unrealized gain (loss) on derivatives |
|
Total
attributable to
Cummins Inc. |
|
Noncontrolling
interests |
|
Total |
| Balance at December 31, 2022 |
|
$ |
(427) |
|
|
$ |
(1,552) |
|
|
|
|
$ |
89
|
|
|
$ |
(1,890) |
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|
|
|
|
| Other comprehensive income (loss) before reclassifications |
|
|
|
|
|
|
|
|
|
|
|
|
|
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| Before-tax amount |
|
(12) |
|
|
(190) |
|
|
|
|
49
|
|
|
(153) |
|
|
$ |
(6) |
|
|
$ |
(159) |
|
| Tax benefit (expense) |
|
2
|
|
|
5
|
|
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|
|
(10) |
|
|
(3) |
|
|
—
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|
|
(3) |
|
| After-tax amount |
|
(10) |
|
|
(185) |
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|
|
|
39
|
|
|
(156) |
|
|
(6) |
|
|
(162) |
|
Amounts reclassified from accumulated other comprehensive income (loss) (1)
|
|
6
|
|
|
—
|
|
|
|
|
(11) |
|
|
(5) |
|
|
—
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|
(5) |
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| Net current period other comprehensive (loss) income |
|
(4) |
|
|
(185) |
|
|
|
|
28
|
|
|
(161) |
|
|
$ |
(6) |
|
|
$ |
(167) |
|
| Balance at September 30, 2023 |
|
$ |
(431) |
|
|
$ |
(1,737) |
|
|
|
|
$ |
117
|
|
|
$ |
(2,051) |
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| Balance at December 31, 2021 |
|
$ |
(346) |
|
|
$ |
(1,208) |
|
|
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|
$ |
(17) |
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|
$ |
(1,571) |
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|
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|
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| Other comprehensive income (loss) before reclassifications |
|
|
|
|
|
|
|
|
|
|
|
|
|
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| Before-tax amount |
|
14 |
|
|
(589) |
|
|
|
|
146 |
|
|
(429) |
|
|
$ |
(38) |
|
|
$ |
(467) |
|
| Tax (expense) benefit |
|
(3) |
|
|
7 |
|
|
|
|
(35) |
|
|
(31) |
|
|
— |
|
|
(31) |
|
| After-tax amount |
|
11 |
|
|
(582) |
|
|
|
|
111 |
|
|
(460) |
|
|
(38) |
|
|
(498) |
|
Amounts reclassified from accumulated other comprehensive income (1)
|
|
17 |
|
|
— |
|
|
|
|
1 |
|
|
18 |
|
|
— |
|
|
18 |
|
| Net current period other comprehensive income (loss) |
|
28 |
|
|
(582) |
|
|
|
|
112 |
|
|
(442) |
|
|
$ |
(38) |
|
|
$ |
(480) |
|
| Balance at September 30, 2022 |
|
$ |
(318) |
|
|
$ |
(1,790) |
|
|
|
|
$ |
95 |
|
|
$ |
(2,013) |
|
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|
|
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|
|
|
|
|
|
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|
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(1) Amounts are net of tax. Reclassifications out of accumulated other comprehensive income (loss) and the related tax effects are immaterial for separate disclosure.
|
|
|
|