SEC Filings


8-K
CUMMINS INC filed this Form 8-K on 10/31/2017
Entire Document
 
CUMMINS INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF INCOME
(Unaudited) (a)



 
 
Three months ended
In millions, except per share amounts
 
October 1,
2017
 
October 2,
2016
NET SALES
 
$
5,285

 
$
4,187

Cost of sales
 
3,946

 
3,108

GROSS MARGIN
 
1,339

 
1,079

OPERATING EXPENSES AND INCOME
 
 
 
 
Selling, general and administrative expenses
 
624

 
513

Research, development and engineering expenses
 
213

 
157

Equity, royalty and interest income from investees
 
95

 
74

Loss contingency
 

 
99

Other operating income (expense), net
 
32

 

OPERATING INCOME
 
629

 
384

Interest income
 
4

 
6

Interest expense
 
18

 
16

Other income (expense), net
 
7

 
8

INCOME BEFORE INCOME TAXES
 
622

 
382

Income tax expense
 
165

 
82

CONSOLIDATED NET INCOME
 
457

 
300

Less: Net income attributable to noncontrolling interests
 
4

 
11

NET INCOME ATTRIBUTABLE TO CUMMINS INC.
 
$
453

 
$
289

 
 
 
 
 
EARNINGS PER COMMON SHARE ATTRIBUTABLE TO CUMMINS INC.
 
 
 
 
Basic
 
$
2.72

 
$
1.72

Diluted
 
$
2.71

 
$
1.72

 
 
 
 
 
WEIGHTED AVERAGE SHARES OUTSTANDING
 
 

 
 
Basic
 
166.3

 
167.8

Diluted
 
167.0

 
168.2

 
 
 
 
 
CASH DIVIDENDS DECLARED PER COMMON SHARE
 
$
1.08

 
$
1.025

 
 
 
 
 
(a)  Prepared on an unaudited basis in accordance with accounting principles generally accepted in the United States of America.







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