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CUMMINS INC   FYE=12 (December)

Annual - Income Statement - Company Specific

Fiscal period2020201920182017201620152014201320122011
Period End Date12/31/202012/31/201912/31/201812/31/201712/31/201612/31/201512/31/201412/31/201312/31/201212/31/2011
Net Sales19,811.0023,571.0023,771.0020,428.0017,509.0019,110.0019,221.0017,301.0017,334.0018,048.00
Total Revenues19,811.0023,571.0023,771.0020,428.0017,509.0019,110.0019,221.0017,301.0017,334.0018,048.00
Cost of sales14,917.0017,591.0018,034.0015,328.0013,051.0014,163.0014,360.0013,021.0012,918.0013,459.00
Gross Profit4,894.005,980.005,737.005,100.004,458.004,947.004,861.004,280.004,416.004,589.00
Research and engineering expenses906.001,001.00902.00754.00637.00735.00754.00713.00728.00629.00
Selling and administrative expenses2,125.002,454.002,437.002,429.002,099.002,092.002,095.001,817.001,808.001,837.00
Restructuring and other charges--119.00------90.00--------
Other operating income, net(46.00)(36.00)(6.00)60.00(5.00)(17.00)(17.00)(10.00)(10.00)21.00
Investee equity, royalty and other income452.00330.00394.00357.00301.00315.00370.00361.00384.00416.00
Loss contingency--------(138.00)(60.00)--------
Gain on sale of business------------------121.00
Impairment of light-duty diesel assets----------(211.00)--------
Operating Income (loss)2,269.002,700.002,786.002,334.001,880.002,057.002,365.002,101.002,254.002,681.00
Interest expense100.00109.00114.0081.0069.0065.0064.0041.0032.0044.00
Interest income------18.0023.0024.0023.0027.0025.0034.00
Other (income) expense, net169.00243.0081.0094.0096.009.00110.0032.0024.000.00
Loss on early retirement of debt--------------------
Joint ventures and alliances (income) expense--------------------
Earnings before income taxes, minority interests, dividends on preferred securit2,338.002,834.002,753.002,365.001,930.002,025.002,434.002,119.002,271.002,671.00
U.S. earnings (loss)--------995.00365.001,407.001,058.00998.00881.00
Foreign earnings--------935.00190.001,027.001,061.001,273.001,790.00
Current- Foreign358.00282.00348.00289.00213.00147.00197.00192.00299.00524.00
Deferred- Foreign22.0028.00(26.00)(12.00)(7.00)43.00(8.00)33.008.0016.00
Provision for income taxes527.00566.00566.001,371.00474.00555.00698.00531.00533.00725.00
Current:U.S. federal and state162.00288.00303.00355.00211.00(151.00)470.00239.00118.00116.00
Deferred:U.S. federal and state2.00(32.00)(71.00)(42.00)57.00516.0039.0067.00108.0069.00
Current- Impact of tax legislation----153.00349.00------------
Deferred- Impact of tax legislation(17.00)--(141.00)432.00------------
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)1,811.002,268.002,187.00994.001,456.001,470.001,736.001,588.001,738.001,946.00
Less: Net income attributable to noncontrolling interests22.008.0046.00(5.00)62.0071.0085.00105.0093.0098.00
NET INCOME ATTRIBUTABLE TO CUMMINS INC1,789.002,260.002,141.00999.001,394.001,399.001,651.001,483.001,645.001,848.00
Basic:Earnings before cumulative effect of change in accounting principle--------------------
Basic:Cumulative effect of change in accounting principle, net of tax--------------------
Earnings per share:Basic12.0714.5413.205.998.257.869.047.938.699.58
Diluted:Earnings before cumulative effect of change in accounting principle--------------------
Diluted:Cumulative effect of change in accounting principle, net of tax--------------------
Earnings per share:Diluted12.0114.4813.155.978.237.849.027.918.679.55
Weighted Average Shares Outstanding (Basic)148.20155.40162.20166.70169.04178.04182.64186.99189.29192.97
Weighted Average Shares Outstanding (Diluted)149.00156.10162.80167.30169.34178.41183.08187.42189.67193.60