Cummins Inc. (CMI) financial statements (2022 and earlier)

Company profile

Business Address 500 JACKSON ST
COLUMBUS, IN 47202-3005
State of Incorp. IN
Fiscal Year End December 31
SIC 351 - Engines And Turbines (benchmarking)
More info Complete financial analysis Financial benchmarking

Balance sheet (Statement of financial position) ($ in millions)

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments, including:3,1873,8621,4701,5251,5671,3801,811
Cash and cash equivalents2,5923,4011,1291,3031,3691,1201,711
Short-term investments595      
Other undisclosed cash, cash equivalents, and short-term investments 461341222198260100
Receivables5263,9923,8613,9833,7703,2172,996
Inventory, net of allowances, customer advances and progress billings4,3553,4253,4863,7593,1662,6752,707
Inventory4,3553,4253,4863,7593,1662,6752,707
Other undisclosed current assets4,241618570551425435433
Total current assets:12,30911,8979,3879,8188,9287,7077,947
Noncurrent Assets
Nontrade receivables 232366  
Property, plant and equipment4,4224,2554,2454,0963,9273,8003,745
Long-term investments and receivables1,5381,4411,2371,2221,156946975
Long-term investments1,5381,4411,2371,2221,156946975
Intangible assets, net (including goodwill)2,1872,2562,2892,0352,055812810
Goodwill1,2871,2931,2861,1261,082480482
Intangible assets, net (excluding goodwill)9009631,003909973332328
Other noncurrent assets1,7661,7331,5789629661,015922
Defined benefit plan, assets for plan benefits731735
Other undisclosed noncurrent assets1,4881,0199789231,037  
Total noncurrent assets:11,40110,72710,3509,2449,1477,3047,187
TOTAL ASSETS:23,71022,62419,73719,06218,07515,01115,134
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities5,0014,4984,1854,4504,7593,5693,337
Accounts payable3,0212,8202,5342,8222,5791,8541,706
Accrued liabilities1,1901,1121,0398521,3691,3031,222
Employee-related liabilities683484560679811412409
Taxes payable107825297   
Deferred revenue855691533
Debt58055479187941828839
Deferred revenue and credits500468403
Other undisclosed current liabilities6485927511,055  24
Total current liabilities:7,0846,3356,2606,3845,6774,3253,803
Noncurrent Liabilities
Long-term debt and lease obligation, including:3,5793,6101,5761,5971,5881,5681,576
Capital lease obligations1321218881
Operating lease, liability  370
Other undisclosed long-term debt and lease obligation3,5793,6101,2061,4651,4671,4801,495
Liabilities, other than long-term debt3,6463,6903,4361,8712,3651,9442,005
Deferred revenue and credits604589583
Accounts payable and accrued liabilities684672645740466336327
Deferred revenue850840821
Deferred compensation liability, classified   173151151199
Deferred tax liabilities, net263391  
Liability, pension and other postretirement and postemployment benefits604630591532619655647
Other liabilities1,5081,5481,379163134213249
Other undisclosed noncurrent liabilities   951281  
Total noncurrent liabilities:7,2257,3005,0124,4194,2343,5123,581
Total liabilities:14,30913,63511,27210,8039,9117,8377,384
Stockholders' equity
Stockholders' equity attributable to parent, including:8,4748,0627,5077,3487,2596,8757,406
Common stock    2,2102,1532,178
Treasury stock, value(9,123)(7,779)(7,225)(6,028)(4,905)(4,489)(3,735)
Accumulated other comprehensive loss(1,571)(1,982)(2,028)(1,807)(1,503)(1,821)(1,348)
Retained earnings16,74115,41914,41612,91711,46411,04010,322
Other undisclosed stockholders' equity attributable to parent2,4272,4042,3442,266(7)(8)(11)
Stockholders' equity attributable to noncontrolling interest927927958911905299344
Total stockholders' equity:9,4018,9898,4658,2598,1647,1747,750
TOTAL LIABILITIES AND EQUITY:23,71022,62419,73719,06218,07515,01115,134

Income statement (P&L) ($ in millions)

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
Revenues24,02119,81123,57123,77120,42817,50919,110
Revenue, net20,42817,50919,110
Cost of revenue(18,326)(14,917)(17,591)(18,034)(15,338)(13,057)(14,163)
Gross profit:5,6954,8945,9805,7375,0904,4524,947
Operating expenses(3,464)(3,031)(3,574)(3,339)(3,142)(2,682)(3,128)
Other operating income (expense), net(31)(46)(36)(6)65(5)(77)
Other undisclosed operating income506452330394352163315
Operating income:2,7062,2692,7002,7862,3651,9282,057
Nonoperating income15616924381817133
Investment income, nonoperating  4635182324
Other nonoperating income1561691974663489
Interest and debt expense(111)(100)(109)(114)(81)(69)(65)
Income from continuing operations before income taxes:2,7512,3382,8342,7532,3651,9302,025
Income tax expense(587)(527)(566)(566)(1,371)(474)(555)
Net income:2,1641,8112,2682,1879941,4561,470
Net income (loss) attributable to noncontrolling interest(33)(22)(8)(46)5(62)(71)
Net income available to common stockholders, diluted:2,1311,7892,2602,1419991,3941,399

Comprehensive Income ($ in millions)

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
Net income:2,1641,8112,2682,1879941,4561,470
Other comprehensive income (loss)40636(226)(333)338(490)(285)
Comprehensive income:2,5701,8472,0421,8541,3329661,185
Comprehensive loss, net of tax, attributable to noncontrolling interest(28)(12)(3)(17)(15)(45)(56)
Comprehensive income, net of tax, attributable to parent:2,5421,8352,0391,8371,3179211,129

Statements sources

The financial statements are based on the company's filings with the 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.

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