Cummins Inc. (CMI) Financial Statements (2024 and earlier)
Company Profile
| Business Address |
500 JACKSON ST COLUMBUS, IN 47202-3005 |
| State of Incorp. | IN |
| Fiscal Year End | December 31 |
| Industry (SIC) | 351 - Engines And Turbines (benchmarking) |
| More info | Complete Financial Analysis Financial Benchmarking |
Balance Sheet (Statement of Financial Position) ($ in millions)Annual | Quarterly
| 3/31/2024 Q1 | 12/31/2023 Q4 | 9/30/2023 Q3 | 6/30/2023 Q2 | 3/31/2023 Q1 | 12/31/2022 Q4 | 9/30/2022 Q3 | |||
|---|---|---|---|---|---|---|---|---|---|
| ASSETS | |||||||||
| Current Assets | |||||||||
| Cash, cash equivalents, and short-term investments, including: | 2,741 | 3,064 | 2,314 | 2,439 | 2,573 | 2,965 | |||
| Cash and cash equivalents | 2,387 | 2,101 | |||||||
| Short-term investments | 562 | 452 | 512 | 459 | 472 | 466 | |||
| Other undisclosed cash, cash equivalents, and short-term investments | 2,179 | 225 | 1,802 | 1,980 | 2,499 | ||||
| Receivables | 81 | 469 | 459 | 349 | |||||
| Inventory, net of allowances, customer advances and progress billings | 5,677 | 5,906 | 6,026 | 5,878 | 5,603 | 5,543 | |||
| Inventory | 5,677 | 5,906 | 6,026 | 5,878 | 5,603 | 5,543 | |||
| Other undisclosed current assets | 6,699 | 6,942 | 7,070 | 6,582 | 5,816 | 5,541 | |||
| Total current assets: | 15,198 | 15,912 | 15,410 | 15,368 | 14,451 | 14,398 | |||
| Noncurrent Assets | |||||||||
| Nontrade receivables | 27 | 14 | |||||||
| Property, plant and equipment | 6,249 | 5,801 | 5,723 | 5,590 | 5,521 | 5,201 | |||
| Long-term investments and receivables | 1,800 | 1,785 | 1,861 | 1,860 | 1,759 | 1,826 | |||
| Long-term investments | 1,800 | 1,785 | 1,861 | 1,860 | 1,759 | 1,826 | |||
| Intangible assets, net (including goodwill) | 5,018 | 4,897 | 4,988 | 5,005 | 5,030 | 4,831 | |||
| Goodwill | 2,499 | 2,379 | 2,404 | 2,365 | 2,343 | 2,229 | |||
| Intangible assets, net (excluding goodwill) | 2,519 | 2,518 | 2,584 | 2,640 | 2,687 | 2,602 | |||
| Other noncurrent assets | 2,543 | 2,202 | 2,230 | 2,114 | 2,140 | 1,977 | |||
| Other undisclosed noncurrent assets | 1,170 | 1,500 | 1,523 | 1,496 | 1,384 | 1,536 | |||
| Total noncurrent assets: | 16,807 | 16,185 | 16,325 | 16,065 | 15,848 | 15,371 | |||
| TOTAL ASSETS: | 32,005 | 32,097 | 31,735 | 31,433 | 30,299 | 29,769 | |||
| LIABILITIES AND EQUITY | |||||||||
| Liabilities | |||||||||
| Current Liabilities | |||||||||
| Accounts payable and accrued liabilities | 8,014 | 5,968 | 5,945 | 6,284 | 5,717 | 6,143 | |||
| Employee-related liabilities | ✕ | ✕ | ✕ | ✕ | ✕ | ✕ | 575 | ||
| Accounts payable | 4,260 | 4,262 | 4,308 | 4,636 | 4,252 | 4,000 | |||
| Accrued liabilities | 3,754 | 1,706 | 1,637 | 1,648 | 1,465 | 1,568 | |||
| Deferred revenue | 1,220 | 1,029 | 1,017 | 1,040 | 1,004 | 921 | |||
| Debt | 1,894 | 2,514 | 2,611 | 3,343 | 3,357 | 2,665 | |||
| Other undisclosed current liabilities | 1,775 | 1,615 | 1,472 | 1,256 | 1,343 | 801 | |||
| Total current liabilities: | 12,903 | 11,126 | 11,045 | 11,923 | 11,421 | 10,530 | |||
| Noncurrent Liabilities | |||||||||
| Long-term debt and lease obligation, including: | 4,802 | 4,950 | 5,089 | 4,409 | 4,498 | 5,450 | |||
| Other undisclosed long-term debt and lease obligation | 4,802 | 4,950 | 5,089 | 4,409 | 4,498 | 5,450 | |||
| Liabilities, other than long-term debt | 4,396 | 4,343 | 4,245 | 4,220 | 4,155 | 4,179 | |||
| Accounts payable and accrued liabilities | 742 | ||||||||
| Deferred revenue | 966 | 1,011 | 939 | 937 | 844 | 867 | |||
| Liability, pension and other postretirement and postemployment benefits | 678 | ||||||||
| Other liabilities | 3,430 | 3,332 | 3,306 | 3,283 | 3,311 | 1,892 | |||
| Total noncurrent liabilities: | 9,198 | 9,293 | 9,334 | 8,629 | 8,653 | 9,629 | |||
| Total liabilities: | 22,101 | 20,419 | 20,379 | 20,552 | 20,074 | 20,159 | |||
| Temporary equity, carrying amount | 261 | 258 | 252 | ||||||
| Equity | |||||||||
| Equity, attributable to parent, including: | 8,850 | 10,658 | 10,337 | 9,623 | 8,975 | 8,380 | |||
| Treasury stock, value | (9,359) | (9,369) | (9,380) | (9,389) | (9,415) | (9,449) | |||
| Accumulated other comprehensive loss | (2,206) | (2,051) | (1,917) | (1,823) | (1,890) | (2,013) | |||
| Retained earnings | 17,851 | 19,520 | 19,102 | 18,605 | 18,037 | 17,628 | |||
| Other undisclosed equity, attributable to parent | 2,564 | 2,558 | 2,532 | 2,230 | 2,243 | 2,214 | |||
| Equity, attributable to noncontrolling interest | 1,054 | 1,020 | 1,019 | 997 | 992 | 978 | |||
| Total equity: | 9,904 | 11,678 | 11,356 | 10,620 | 9,967 | 9,358 | |||
| TOTAL LIABILITIES AND EQUITY: | 32,005 | 32,097 | 31,735 | 31,433 | 30,299 | 29,769 | |||
Income Statement (P&L) ($ in millions)Annual | Quarterly
| 3/31/2024 Q1 | 12/31/2023 Q4 | 9/30/2023 Q3 | 6/30/2023 Q2 | 3/31/2023 Q1 | 12/31/2022 Q4 | 9/30/2022 Q3 | ||
|---|---|---|---|---|---|---|---|---|
| Revenues | 8,543 | 8,431 | 8,638 | 8,453 | 7,770 | 7,333 | ||
| Cost of revenue | (6,542) | (6,360) | (6,490) | (6,424) | (5,951) | (5,691) | ||
| Gross profit: | 2,001 | 2,071 | 2,148 | 2,029 | 1,819 | 1,642 | ||
| Operating expenses | (1,266) | (1,207) | (1,257) | (1,103) | (1,075) | (1,056) | ||
| Other operating expense, net | (2,060) | (32) | (27) | (19) | (30) | (30) | ||
| Other undisclosed operating income | 113 | 118 | 133 | 119 | 88 | 70 | ||
| Operating income (loss): | (1,212) | 950 | 997 | 1,026 | 802 | 626 | ||
| Nonoperating income (expense) | 44 | 25 | 51 | 101 | (73) | 43 | ||
| Gain (loss), foreign currency transaction, before tax | 11 | (136) | ||||||
| Other nonoperating income | 25 | 51 | 90 | 63 | 43 | |||
| Interest and debt expense | (92) | (97) | (99) | (87) | (87) | (61) | ||
| Income (loss) from continuing operations before equity method investments, income taxes: | (1,260) | 878 | 949 | 1,040 | 642 | 608 | ||
| Other undisclosed income (loss) from continuing operations before income taxes | 30 | (11) | 136 | |||||
| Income (loss) from continuing operations before income taxes: | (1,230) | 878 | 949 | 1,029 | 778 | 608 | ||
| Income tax expense | (163) | (188) | (212) | (223) | (134) | (199) | ||
| Income (loss) from continuing operations: | (1,393) | 690 | 737 | 806 | 644 | 409 | ||
| Income before gain (loss) on sale of properties: | ✕ | ✕ | ✕ | ✕ | ✕ | ✕ | 409 | |
| Net income (loss): | (1,393) | 690 | 737 | 806 | 644 | 409 | ||
| Net loss attributable to noncontrolling interest | (38) | (34) | (17) | (16) | (13) | (9) | ||
| Net income (loss) available to common stockholders, diluted: | (1,431) | 656 | 720 | 790 | 631 | 400 | ||
Comprehensive Income ($ in millions)Annual | Quarterly
| 3/31/2024 Q1 | 12/31/2023 Q4 | 9/30/2023 Q3 | 6/30/2023 Q2 | 3/31/2023 Q1 | 12/31/2022 Q4 | 9/30/2022 Q3 | ||
|---|---|---|---|---|---|---|---|---|
| Net income (loss): | (1,393) | 690 | 737 | 806 | 644 | 409 | ||
| Other comprehensive income (loss) | (152) | (141) | (96) | 70 | 121 | (332) | ||
| Comprehensive income (loss): | (1,545) | 549 | 641 | 876 | 765 | 77 | ||
| Comprehensive income (loss), net of tax, attributable to noncontrolling interest | (41) | (27) | (15) | (19) | (11) | 6 | ||
| Comprehensive income (loss), net of tax, attributable to parent: | (1,586) | 522 | 626 | 857 | 754 | 83 | ||
Statements Sources
The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.