SEC Filings

CUMMINS INC filed this Form 10-K on 02/11/2019
Entire Document

Cummins Inc. and its consolidated subsidiaries are hereinafter sometimes referred to as "Cummins," "we," "our," or "us."
Certain parts of this annual report contain forward-looking statements intended to qualify for the safe harbors from liability established by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include those that are based on current expectations, estimates and projections about the industries in which we operate and management’s beliefs and assumptions. Forward-looking statements are generally accompanied by words such as "anticipates," "expects," "forecasts," "intends," "plans," "believes," "seeks," "estimates," "could," "should" or words of similar meaning. These statements are not guarantees of future performance and involve certain risks, uncertainties and assumptions, which we refer to as "future factors," which are difficult to predict. Therefore, actual outcomes and results may differ materially from what is expressed or forecasted in such forward-looking statements. Some future factors that could cause our results to differ materially from the results discussed in such forward-looking statements are discussed below and shareholders, potential investors and other readers are urged to consider these future factors carefully in evaluating forward-looking statements. Readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date hereof. Future factors that could affect the outcome of forward-looking statements include the following:
a sustained slowdown or significant downturn in our markets;
changes in the engine outsourcing practices of significant customers;
the development of new technologies that reduce demand for our current products and services;
increased scrutiny from regulatory agencies, as well as unpredictability in the adoption, implementation and enforcement of emission standards around the world;
product recalls;
policy changes in international trade;
the United Kingdom's decision to end its membership in the European Union;
lower than expected acceptance of new or existing products or services;
a slowdown in infrastructure development and/or depressed commodity prices;
supply shortages and supplier financial risk, particularly from any of our single-sourced suppliers;
exposure to potential security breaches or other disruptions to our information technology systems and data security;
a major customer experiencing financial distress;
the actions of, and income from, joint ventures and other investees that we do not directly control;
our plan to reposition our portfolio of product offerings through exploration of strategic acquisitions and divestitures and related uncertainties of entering such transactions;
failure to realize expected results from our investment in Eaton Cummins Automated Transmission Technologies joint venture;
competitor activity;
increasing competition, including increased global competition among our customers in emerging markets;
foreign currency exchange rate changes;
variability in material and commodity costs;
political, economic and other risks from operations in numerous countries;
changes in taxation;
global legal and ethical compliance costs and risks;
aligning our capacity and production with our demand;
product liability claims;
increasingly stringent environmental laws and regulations;
future bans or limitations on the use of diesel-powered products;
the price and availability of energy;