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CUMMINS INC   FYE=12 (December)

Annual - Income Statement - Company Specific

Fiscal period2024202320222021202020192018201720162015
Period End Date12/31/202412/31/202312/31/202212/31/202112/31/202012/31/201912/31/201812/31/201712/31/201612/31/2015
Net Sales34,102.0034,065.0028,074.0024,021.0019,811.0023,571.0023,771.0020,428.0017,509.0019,110.00
Total Revenues34,102.0034,065.0028,074.0024,021.0019,811.0023,571.0023,771.0020,428.0017,509.0019,110.00
Cost of sales25,663.0025,816.0021,355.0018,326.0014,917.0017,591.0018,034.0015,338.0013,057.0014,163.00
Gross Profit8,439.008,249.006,719.005,695.004,894.005,980.005,737.005,090.004,452.004,947.00
Research and engineering expenses1,463.001,500.001,278.001,090.00906.001,001.00902.00752.00636.00735.00
Selling and administrative expenses3,275.003,333.002,687.002,374.002,125.002,454.002,437.002,390.002,046.002,092.00
Restructuring and other charges----------119.00------90.00
Other operating income, net(346.00)(2,138.00)(174.00)(31.00)(46.00)(36.00)(6.00)65.00(5.00)(77.00)
Investee equity, royalty and other income395.00483.00349.00506.00452.00330.00394.00357.00301.00315.00
Loss contingency--------------(5.00)(138.00)--
Gain on sale of business--------------------
Impairment of light-duty diesel assets------------------(211.00)
Operating Income (loss)3,750.001,761.002,929.002,706.002,269.002,700.002,786.002,365.001,928.002,057.00
Interest expense370.00375.00199.00111.00100.00109.00114.0081.0069.0065.00
Interest income----------46.0035.0018.0023.0024.00
Other (income) expense, net1,523.00240.0089.00156.00169.00197.0046.0063.0048.009.00
Loss on early retirement of debt--------------------
Joint ventures and alliances (income) expense--------------------
Earnings before income taxes, minority interests, dividends on preferred securit4,903.001,626.002,819.002,751.002,338.002,834.002,753.002,365.001,930.002,025.00
U.S. earnings (loss)--(541.00)1,336.00------1,239.00397.00995.001,275.00
Foreign earnings--2,167.001,483.00------1,514.00277.00935.00750.00
Current- Foreign611.00632.00485.00319.00358.00282.00348.00289.00213.00147.00
Deferred- Foreign32.0011.00(45.00)19.0022.0028.00(26.00)(12.00)(7.00)43.00
Provision for income taxes835.00786.00636.00587.00527.00566.00566.001,371.00474.00555.00
Current:U.S. federal and state433.00611.00425.00261.00162.00288.00303.00(42.00)211.00516.00
Deferred:U.S. federal and state(241.00)(468.00)(229.00)(12.00)2.00(32.00)(71.00)355.0057.00(151.00)
Deferred- Impact of tax legislation--------(17.00)----------
Minority interests in earnings of consolidated subsidiaries--------------------
Dividends on preferred securities of subsidiary trust--------------------
Cumulative effect of change in accounting principle--------------------
Consolidated Net Income (Loss)4,068.00840.002,183.002,164.001,811.002,268.002,187.00994.001,456.001,470.00
Less: Net income attributable to noncontrolling interests122.00105.0032.0033.0022.008.0046.00(5.00)62.0071.00
NET INCOME ATTRIBUTABLE TO CUMMINS INC3,946.00735.002,151.002,131.001,789.002,260.002,141.00999.001,394.001,399.00
Basic:Earnings before cumulative effect of change in accounting principle--------------------
Basic:Cumulative effect of change in accounting principle, net of tax--------------------
Earnings per share:Basic28.555.1915.2014.7412.0714.5413.205.998.257.86
Diluted:Earnings before cumulative effect of change in accounting principle--------------------
Diluted:Cumulative effect of change in accounting principle, net of tax--------------------
Earnings per share:Diluted28.375.1515.1214.6112.0114.4813.155.978.237.84
Weighted Average Shares Outstanding (Basic)138.20141.70141.50144.60148.20155.40162.17166.63169.04178.04
Weighted Average Shares Outstanding (Diluted)139.10142.70142.30145.90149.00156.10162.77167.27169.34178.41