SEC Filings


8-K
CUMMINS INC filed this Form 8-K on 02/06/2018
Entire Document
 
CUMMINS INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED BALANCE SHEETS
(Unaudited) (a)


In millions, except par value
 
December 31,
2017
 
December 31,
2016
ASSETS
 
 
 
 
Current assets
 
 
 
 
Cash and cash equivalents
 
$
1,369

 
$
1,120

Marketable securities
 
198

 
260

Total cash, cash equivalents and marketable securities
 
1,567

 
1,380

Accounts and notes receivable, net
 
3,618

 
3,025

Inventories
 
3,166

 
2,675

Prepaid expenses and other current assets
 
577

 
627

Total current assets
 
8,928

 
7,707

Long-term assets
 
 
 
 
Property, plant and equipment, net
 
3,927

 
3,800

Investments and advances related to equity method investees
 
1,156

 
946

Goodwill
 
1,082

 
480

Other intangible assets, net
 
973

 
332

Pension assets
 
1,043

 
731

Other assets
 
966

 
1,015

Total assets
 
$
18,075

 
$
15,011

 
 
 
 
 
LIABILITIES
 
 
 
 
Current liabilities
 
 
 
 
Accounts payable (principally trade)
 
$
2,579

 
$
1,854

Loans payable
 
57

 
41

Commercial paper
 
298

 
212

Accrued compensation, benefits and retirement costs
 
811

 
412

Current portion of accrued product warranty
 
454

 
333

Current portion of deferred revenue
 
500

 
468

Other accrued expenses
 
915

 
970

Current maturities of long-term debt
 
63

 
35

Total current liabilities
 
5,677

 
4,325

Long-term liabilities
 
 
 
 
Long-term debt
 
1,588

 
1,568

Postretirement benefits other than pensions
 
289

 
329

Pensions
 
330

 
326

Other liabilities and deferred revenue
 
2,027

 
1,289

Total liabilities
 
$
9,911

 
$
7,837

 
 
 
 
 
EQUITY
 
 
 
 
Cummins Inc. shareholders’ equity
 
 
 
 
Common stock, $2.50 par value, 500 shares authorized, 222.4 and 222.4 shares issued
 
$
2,210

 
$
2,153

Retained earnings
 
11,464

 
11,040

Treasury stock, at cost, 56.7 and 54.2 shares
 
(4,905
)
 
(4,489
)
Common stock held by employee benefits trust, at cost, 0.5 and 0.7 shares
 
(7
)
 
(8
)
Accumulated other comprehensive loss
 
(1,503
)
 
(1,821
)
Total Cummins Inc. shareholders’ equity
 
7,259

 
6,875

Noncontrolling interests
 
905

 
299

Total equity
 
$
8,164

 
$
7,174

Total liabilities and equity
 
$
18,075

 
$
15,011

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



5