Fiscal period | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
Period End Date | 12/31/2024 | 12/31/2023 | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | 12/31/2017 | 12/31/2016 | 12/31/2015 |
Net Sales | 34,102.00 | 34,065.00 | 28,074.00 | 24,021.00 | 19,811.00 | 23,571.00 | 23,771.00 | 20,428.00 | 17,509.00 | 19,110.00 |
Total Revenues | 34,102.00 | 34,065.00 | 28,074.00 | 24,021.00 | 19,811.00 | 23,571.00 | 23,771.00 | 20,428.00 | 17,509.00 | 19,110.00 |
Cost of sales | 25,663.00 | 25,816.00 | 21,355.00 | 18,326.00 | 14,917.00 | 17,591.00 | 18,034.00 | 15,338.00 | 13,057.00 | 14,163.00 |
Gross Profit | 8,439.00 | 8,249.00 | 6,719.00 | 5,695.00 | 4,894.00 | 5,980.00 | 5,737.00 | 5,090.00 | 4,452.00 | 4,947.00 |
Research and engineering expenses | 1,463.00 | 1,500.00 | 1,278.00 | 1,090.00 | 906.00 | 1,001.00 | 902.00 | 752.00 | 636.00 | 735.00 |
Selling and administrative expenses | 3,275.00 | 3,333.00 | 2,687.00 | 2,374.00 | 2,125.00 | 2,454.00 | 2,437.00 | 2,390.00 | 2,046.00 | 2,092.00 |
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 income | 395.00 | 483.00 | 349.00 | 506.00 | 452.00 | 330.00 | 394.00 | 357.00 | 301.00 | 315.00 |
Loss contingency | -- | -- | -- | -- | -- | -- | -- | (5.00) | (138.00) | -- |
Gain on sale of business | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- |
Impairment of light-duty diesel assets | -- | -- | -- | -- | -- | -- | -- | -- | -- | (211.00) |
Operating Income (loss) | 3,750.00 | 1,761.00 | 2,929.00 | 2,706.00 | 2,269.00 | 2,700.00 | 2,786.00 | 2,365.00 | 1,928.00 | 2,057.00 |
Interest expense | 370.00 | 375.00 | 199.00 | 111.00 | 100.00 | 109.00 | 114.00 | 81.00 | 69.00 | 65.00 |
Interest income | -- | -- | -- | -- | -- | 46.00 | 35.00 | 18.00 | 23.00 | 24.00 |
Other (income) expense, net | 1,523.00 | 240.00 | 89.00 | 156.00 | 169.00 | 197.00 | 46.00 | 63.00 | 48.00 | 9.00 |
Loss on early retirement of debt | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- |
Joint ventures and alliances (income) expense | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- |
Earnings before income taxes, minority interests, dividends on preferred securit | 4,903.00 | 1,626.00 | 2,819.00 | 2,751.00 | 2,338.00 | 2,834.00 | 2,753.00 | 2,365.00 | 1,930.00 | 2,025.00 |
U.S. earnings (loss) | -- | (541.00) | 1,336.00 | -- | -- | -- | 1,239.00 | 397.00 | 995.00 | 1,275.00 |
Foreign earnings | -- | 2,167.00 | 1,483.00 | -- | -- | -- | 1,514.00 | 277.00 | 935.00 | 750.00 |
Current- Foreign | 611.00 | 632.00 | 485.00 | 319.00 | 358.00 | 282.00 | 348.00 | 289.00 | 213.00 | 147.00 |
Deferred- Foreign | 32.00 | 11.00 | (45.00) | 19.00 | 22.00 | 28.00 | (26.00) | (12.00) | (7.00) | 43.00 |
Provision for income taxes | 835.00 | 786.00 | 636.00 | 587.00 | 527.00 | 566.00 | 566.00 | 1,371.00 | 474.00 | 555.00 |
Current:U.S. federal and state | 433.00 | 611.00 | 425.00 | 261.00 | 162.00 | 288.00 | 303.00 | (42.00) | 211.00 | 516.00 |
Deferred:U.S. federal and state | (241.00) | (468.00) | (229.00) | (12.00) | 2.00 | (32.00) | (71.00) | 355.00 | 57.00 | (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) | 4,068.00 | 840.00 | 2,183.00 | 2,164.00 | 1,811.00 | 2,268.00 | 2,187.00 | 994.00 | 1,456.00 | 1,470.00 |
Less: Net income attributable to noncontrolling interests | 122.00 | 105.00 | 32.00 | 33.00 | 22.00 | 8.00 | 46.00 | (5.00) | 62.00 | 71.00 |
NET INCOME ATTRIBUTABLE TO CUMMINS INC | 3,946.00 | 735.00 | 2,151.00 | 2,131.00 | 1,789.00 | 2,260.00 | 2,141.00 | 999.00 | 1,394.00 | 1,399.00 |
Basic:Earnings before cumulative effect of change in accounting principle | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- |
Basic:Cumulative effect of change in accounting principle, net of tax | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- |
Earnings per share:Basic | 28.55 | 5.19 | 15.20 | 14.74 | 12.07 | 14.54 | 13.20 | 5.99 | 8.25 | 7.86 |
Diluted:Earnings before cumulative effect of change in accounting principle | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- |
Diluted:Cumulative effect of change in accounting principle, net of tax | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- |
Earnings per share:Diluted | 28.37 | 5.15 | 15.12 | 14.61 | 12.01 | 14.48 | 13.15 | 5.97 | 8.23 | 7.84 |
Weighted Average Shares Outstanding (Basic) | 138.20 | 141.70 | 141.50 | 144.60 | 148.20 | 155.40 | 162.17 | 166.63 | 169.04 | 178.04 |
Weighted Average Shares Outstanding (Diluted) | 139.10 | 142.70 | 142.30 | 145.90 | 149.00 | 156.10 | 162.77 | 167.27 | 169.34 | 178.41 |