Quarterly report pursuant to Section 13 or 15(d)

EQUITY, ROYALTY AND INTEREST INCOME FROM INVESTEES

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EQUITY, ROYALTY AND INTEREST INCOME FROM INVESTEES
 3 Months Ended
Mar. 31, 2024
Equity Method Investments and Joint Ventures [Abstract]  
EQUITY, ROYALTY AND INTEREST INCOME FROM INVESTEES
NOTE 4. EQUITY, ROYALTY AND INTEREST INCOME FROM INVESTEES
Equity, royalty and interest income from investees included in our Condensed Consolidated Statements of Net Income for the reporting period was as follows:
Three months ended
  March 31,
In millions 2024 2023
Manufacturing entities
Dongfeng Cummins Engine Company, Ltd. $ 22  $ 19 
Chongqing Cummins Engine Company, Ltd. 15  9 
Beijing Foton Cummins Engine Co., Ltd. 13  16 
Tata Cummins, Ltd. 9  8 
All other manufacturers 23  19 
Distribution entities
Komatsu Cummins Chile, Ltda. 13  14 
All other distributors 5  3 
Cummins share of net income 100  88 
Royalty and interest income 23  31 
Equity, royalty and interest income from investees $ 123  $ 119 
In September 2023, our Accelera business signed an agreement to form a joint venture with Daimler Trucks and Buses US Holding LLC (Daimler Truck), PACCAR Inc. (PACCAR) and EVE Energy to accelerate and localize battery cell production and the battery supply chain in the U.S., including building a 21-gigawatt hour battery production facility in Marshall County, Mississippi. The joint venture will manufacture battery cells for electric commercial vehicles and industrial applications. Accelera, Daimler Truck and PACCAR will each own 30 percent of the joint venture, while EVE Energy will own 10 percent. Total investment by the partners is expected to be in the range of $2 billion to $3 billion for the 21-gigawatt hour facility. The transaction received all applicable merger control and regulatory approvals during or prior to April 2024, and the joint venture formation and initial funding are expected to be finalized in the second quarter of 2024.