CUMMINS INC. CMI Cash Flow

Cummins inc. (CMI)

CashFlow / TTM

Mar'20	Dec'19	Sep'19	Jun'19	Mar'19	Dec'18	Sep'18	Jul'18	Apr'18	Dec'17	Sep'17	Jun'17	Mar'17	Dec'16	Sep'16	Jun'16	Mar'16	Dec'15	Sep'15	Jun'15	Mar'15	Dec'14	Sep'14	Jun'14	Mar'14	Dec'13	Sep'13	Jun'13	Mar'13	Dec'12	Sep'12	Jun'12	Mar'12	Dec'11	Sep'11	Jun'11	Mar'11	Dec'10	Sep'10	Jun'10	Mar'10	Dec'09	Sep'09	Jun'09	Mar'09
CASH FLOWS FROM OPERATING ACTIVITIES
Consolidated net income
2,127,000	2,268,000	2,580,000	2,662,000	2,531,000	2,187,000	1,268,000	1,027,000	914,000	994,000	1,699,000	1,542,000	1,528,000	1,456,000	1,238,000	1,330,000	1,399,000	1,470,000	1,759,000	1,806,000	1,782,000	1,736,000	1,730,000	1,665,000	1,634,000	1,588,000	1,525,000	1,521,000	1,575,000	1,738,000	1,912,000	2,014,000	2,056,000	1,946,000	1,765,000	1,602,000	1,335,000	1,140,000	1,039,000	840,000	640,000	484,000	0	0	0
Adjustments to reconcile consolidated net income to net cash provided by operating activities
Depreciation and amortization
683,000	672,000	648,000	618,000	614,000	611,000	606,000	607,000	598,000	583,000	572,000	555,000	541,000	530,000	522,000	519,000	514,000	514,000	508,000	492,000	478,000	455,000	432,000	424,000	414,000	407,000	404,000	390,000	374,000	361,000	344,000	337,000	331,000	325,000	324,000	318,000	320,000	320,000	327,000	333,000	329,000	326,000	0	0	0
Gains on fair value adjustment for consolidated investees (Note 18)
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	12,000	0	0	0	-	-	-	-	-	-	-	-	12,000	0	0	0	-	-	-	-
Deferred income taxes
-26,000	-4,000	56,000	-59,000	-59,000	-97,000	-247,000	-75,000	-91,000	-54,000	16,000	48,000	62,000	50,000	72,000	-43,000	-109,000	-108,000	-52,000	56,000	8,000	31,000	-15,000	-8,000	117,000	100,000	103,000	175,000	148,000	116,000	28,000	-41,000	37,000	85,000	121,000	100,000	64,000	56,000	99,000	28,000	39,000	5,000	0	0	0
Equity in income of investees, net of dividends
28,000	14,000	-19,000	-27,000	62,000	93,000	113,000	154,000	135,000	123,000	118,000	91,000	81,000	46,000	62,000	55,000	31,000	36,000	65,000	60,000	101,000	100,000	67,000	113,000	78,000	62,000	62,000	47,000	-8,000	15,000	81,000	50,000	20,000	23,000	45,000	96,000	156,000	147,000	128,000	86,000	82,000	-23,000	0	0	0
Pension and OPEB expense (Note 4)
0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Payment for Pension and Other Postretirement Benefits
0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Pension contributions under (in excess of) expense, net (Note 4)
-	-	-	-	-	-	0	0	0	-	63,000	130,000	119,000	92,000	338,000	167,000	173,000	127,000	-113,000	-143,000	-144,000	-148,000	-140,000	-131,000	-128,000	-82,000	-90,000	-94,000	-95,000	-68,000	-134,000	-136,000	-134,000	-131,000	-108,000	-82,000	-82,000	-151,000	-101,000	-137,000	-144,000	-36,000	0	0	0
Other postretirement benefits payments in excess of expense, net (Note 4)
-	-	-	-	-	-	-	-	0	-	13,000	16,000	27,000	25,000	21,000	25,000	23,000	23,000	24,000	29,000	28,000	28,000	67,000	54,000	41,000	25,000	-25,000	-29,000	-25,000	-21,000	-37,000	-28,000	-30,000	-31,000	-23,000	-38,000	-39,000	-35,000	-28,000	-15,000	-17,000	-24,000	0	0	0
Stock-based compensation expense
44,000	49,000	52,000	53,000	53,000	53,000	45,000	46,000	43,000	41,000	38,000	35,000	34,000	32,000	28,000	27,000	24,000	24,000	33,000	32,000	31,000	36,000	35,000	39,000	40,000	37,000	36,000	34,000	36,000	36,000	43,000	45,000	44,000	42,000	33,000	29,000	21,000	22,000	21,000	19,000	20,000	20,000	0	0	0
Loss contingency payments
-	-	-	-	-	-	-	-	-	0	0	0	0	-	-	0	0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	16,000	0	0	0
Payments for Restructuring
0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Life Insurance, Corporate or Bank Owned, Change in Value
0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
(Gain) loss on corporate owned life insurance
-	-	-	-	-	-26,000	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Foreign currency remeasurement and transaction exposure
181,000	105,000	73,000	-21,000	5,000	46,000	17,000	-19,000	-98,000	-71,000	-45,000	-21,000	30,000	55,000	35,000	46,000	-5,000	-26,000	-28,000	-23,000	3,000	13,000	28,000	-5,000	-19,000	-17,000	-10,000	4,000	15,000	0	-34,000	-17,000	-10,000	-4,000	11,000	-4,000	-26,000	-13,000	-18,000	7,000	-13,000	-41,000	0	0	0
Excess tax benefits on stock-based awards
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	13,000	12,000	14,000	5,000	6,000	7,000	6,000	10,000	0	0	0	-	-	-	-
Changes in current assets and liabilities
Accounts and notes receivable
-437,000	-195,000	35,000	120,000	281,000	363,000	215,000	575,000	520,000	508,000	875,000	501,000	372,000	265,000	-154,000	-277,000	-281,000	-103,000	16,000	194,000	133,000	89,000	168,000	204,000	351,000	148,000	195,000	62,000	-193,000	-87,000	0	0	0	-	0	0	0	-	0	0	0	-	0	0	0
Inventories
-227,000	-291,000	-16,000	345,000	543,000	695,000	779,000	618,000	464,000	407,000	255,000	167,000	152,000	4,000	-179,000	-176,000	-194,000	-150,000	133,000	160,000	219,000	256,000	142,000	85,000	4,000	46,000	-129,000	-223,000	0	32,000	0	0	0	-	0	0	0	-	0	0	0	-	0	0	0
Other current assets
83,000	95,000	14,000	105,000	151,000	162,000	84,000	75,000	29,000	12,000	152,000	154,000	101,000	-14,000	146,000	-20,000	-17,000	151,000	-140,000	-15,000	-19,000	-1,000	-24,000	-2,000	-56,000	-212,000	-176,000	-201,000	-126,000	60,000	0	0	0	-	0	0	0	-	0	0	0	-	0	0	0
Accounts payable
-305,000	-310,000	-168,000	8,000	222,000	302,000	539,000	678,000	589,000	639,000	654,000	448,000	377,000	188,000	23,000	-84,000	-170,000	-130,000	-124,000	52,000	89,000	244,000	227,000	142,000	261,000	163,000	141,000	-7,000	-200,000	-256,000	0	0	0	-	0	0	0	-	0	0	0	-	0	0	0
Accrued expenses
-140,000	-112,000	21,000	83,000	415,000	371,000	290,000	345,000	136,000	383,000	453,000	146,000	-2,000	-195,000	-352,000	-414,000	-474,000	-226,000	-147,000	27,000	228,000	168,000	62,000	-39,000	-199,000	-246,000	-262,000	-428,000	-460,000	-514,000	0	0	0	-	0	0	0	-	0	0	0	-	0	0	0
Changes in other liabilities
-204,000	-240,000	-125,000	-190,000	-112,000	-75,000	-182,000	-143,000	-220,000	-241,000	-189,000	-174,000	-170,000	-200,000	-261,000	-288,000	-311,000	-292,000	-317,000	-299,000	-291,000	-282,000	-248,000	-427,000	-308,000	-211,000	-515,000	-217,000	-196,000	-214,000	200,000	184,000	144,000	139,000	129,000	125,000	128,000	133,000	149,000	148,000	148,000	155,000	0	0	0
Other, net
-242,000	-127,000	-193,000	-156,000	-67,000	-164,000	-30,000	123,000	224,000	173,000	109,000	62,000	-44,000	-51,000	-62,000	-31,000	-4,000	36,000	50,000	9,000	49,000	-20,000	2,000	78,000	48,000	25,000	12,000	-21,000	-52,000	47,000	37,000	-7,000	18,000	3,000	60,000	135,000	86,000	78,000	20,000	-8,000	2,000	1,000	0	0	0
Net cash (used in) provided by operating activities
3,148,000	3,181,000	3,333,000	3,125,000	2,907,000	2,378,000	2,194,000	1,924,000	1,781,000	2,277,000	2,096,000	2,027,000	2,051,000	1,939,000	2,248,000	2,234,000	2,159,000	2,065,000	2,009,000	2,134,000	2,176,000	2,266,000	2,144,000	1,830,000	1,924,000	2,089,000	2,078,000	2,095,000	1,939,000	1,532,000	1,492,000	1,726,000	2,006,000	2,073,000	1,755,000	1,323,000	968,000	1,006,000	1,026,000	1,243,000	1,187,000	1,137,000	0	0	0
CASH FLOWS FROM INVESTING ACTIVITIES
Capital expenditures
666,000	700,000	743,000	765,000	746,000	709,000	585,000	510,000	497,000	506,000	501,000	524,000	541,000	531,000	663,000	686,000	715,000	744,000	727,000	745,000	736,000	743,000	668,000	646,000	669,000	676,000	683,000	699,000	678,000	690,000	669,000	673,000	657,000	622,000	571,000	488,000	408,000	364,000	276,000	262,000	293,000	310,000	0	0	0
Investments in internal use software
63,000	75,000	70,000	74,000	80,000	75,000	77,000	76,000	69,000	81,000	80,000	76,000	77,000	63,000	59,000	60,000	60,000	55,000	53,000	51,000	49,000	55,000	61,000	66,000	66,000	64,000	68,000	71,000	83,000	87,000	91,000	78,000	66,000	60,000	46,000	43,000	36,000	43,000	39,000	38,000	41,000	35,000	0	0	0
Proceeds from disposals of property, plant and equipment
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	55,000	48,000	45,000	42,000	10,000	0	0	0
Investments in and advances to equity investees
17,000	20,000	44,000	40,000	31,000	37,000	4,000	17,000	62,000	66,000	83,000	88,000	36,000	41,000	27,000	7,000	42,000	7,000	30,000	66,000	44,000	60,000	69,000	49,000	24,000	42,000	-10,000	34,000	89,000	70,000	69,000	101,000	65,000	81,000	89,000	21,000	12,000	2,000	15,000	5,000	19,000	3,000	0	0	0
Acquisitions of businesses, net of cash acquired (Note 21)
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	117,000	272,000	258,000	357,000	436,000	268,000	206,000	220,000	147,000	145,000	337,000	227,000	215,000	0	0	0	-	-	-	-	104,000	77,000	71,000	71,000	2,000	0	0	0
Investments in marketable securities—acquisitions
490,000	495,000	419,000	484,000	422,000	368,000	404,000	268,000	235,000	194,000	137,000	168,000	213,000	478,000	554,000	488,000	478,000	282,000	237,000	269,000	286,000	275,000	271,000	354,000	369,000	418,000	488,000	528,000	548,000	561,000	624,000	644,000	774,000	729,000	801,000	826,000	791,000	823,000	757,000	720,000	495,000	431,000	0	0	0
Investments in marketable securities—liquidations (Note 7)
381,000	389,000	329,000	368,000	352,000	331,000	346,000	220,000	201,000	266,000	233,000	231,000	418,000	306,000	333,000	352,000	234,000	270,000	248,000	312,000	299,000	336,000	408,000	424,000	446,000	525,000	543,000	585,000	588,000	585,000	653,000	687,000	800,000	750,000	810,000	755,000	716,000	690,000	616,000	480,000	365,000	335,000	0	0	0
Cash flows from derivatives not designated as hedges
93,000	44,000	132,000	119,000	74,000	102,000	-11,000	-48,000	-127,000	-76,000	29,000	62,000	100,000	102,000	73,000	18,000	22,000	-8,000	-3,000	13,000	15,000	14,000	-16,000	-28,000	-36,000	-1,000	16,000	12,000	29,000	-12,000	9,000	23,000	11,000	18,000	-4,000	-26,000	-17,000	-2,000	-5,000	15,000	-4,000	18,000	0	0	0
Other, net
16,000	-9,000	-12,000	-15,000	-42,000	-36,000	-54,000	-27,000	-26,000	-5,000	-10,000	-21,000	-13,000	-12,000	8,000	25,000	17,000	16,000	7,000	-15,000	-12,000	-9,000	28,000	29,000	24,000	25,000	-49,000	-53,000	-43,000	-44,000	-3,000	3,000	5,000	-1,000	0	0	0	-	-	-	-	-	-	-	-
Net cash used in investing activities
-1,178,000	-1,150,000	-1,284,000	-1,149,000	-1,009,000	-974,000	-785,000	-1,128,000	-1,061,000	-1,052,000	-1,113,000	-686,000	-556,000	-917,000	-1,031,000	-1,009,000	-1,181,000	-918,000	-1,071,000	-1,071,000	-1,172,000	-1,234,000	-941,000	-898,000	-890,000	-846,000	-808,000	-1,043,000	-1,023,000	-982,000	-915,000	-751,000	-576,000	-552,000	-601,000	-559,000	-585,000	-651,000	-551,000	-643,000	-563,000	-509,000	0	0	0
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from borrowings
-	-	-	-	-	-	-	-	-	-	-	-	-	111,000	131,000	141,000	147,000	44,000	40,000	50,000	50,000	55,000	56,000	1,019,000	1,011,000	1,004,000	987,000	20,000	52,000	64,000	95,000	113,000	101,000	127,000	147,000	189,000	182,000	214,000	228,000	151,000	139,000	76,000	0	0	0
Net borrowings (payments) of commercial paper (Note 9)
908,000	-120,000	102,000	-368,000	116,000	482,000	286,000	668,000	319,000	86,000	241,000	-66,000	224,000	212,000	0	0	0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Payments on borrowings and finance lease obligations
96,000	96,000	55,000	46,000	56,000	62,000	76,000	64,000	65,000	60,000	45,000	59,000	159,000	163,000	168,000	178,000	73,000	76,000	86,000	86,000	87,000	94,000	100,000	78,000	88,000	90,000	87,000	121,000	134,000	145,000	183,000	218,000	230,000	237,000	253,000	200,000	168,000	143,000	101,000	90,000	98,000	97,000	0	0	0
Net borrowings under short-term credit agreements
63,000	53,000	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-3,000	0	0	0	-	-	-	-	6,000	8,000	21,000	5,000	9,000	-2,000	2,000	-1,000	-2,000	0	0	0
Distributions to noncontrolling interests
33,000	33,000	33,000	32,000	32,000	30,000	30,000	30,000	30,000	29,000	52,000	51,000	65,000	65,000	56,000	59,000	58,000	49,000	66,000	65,000	71,000	83,000	74,000	79,000	69,000	75,000	65,000	58,000	59,000	62,000	56,000	62,000	57,000	56,000	57,000	50,000	48,000	28,000	39,000	28,000	26,000	34,000	0	0	0
Dividend payments on common stock
777,000	761,000	743,000	721,000	719,000	718,000	716,000	713,000	708,000	701,000	693,000	686,000	677,000	676,000	675,000	675,000	652,000	622,000	594,000	563,000	537,000	512,000	485,000	460,000	440,000	420,000	399,000	377,000	358,000	340,000	323,000	305,000	281,000	255,000	230,000	204,000	188,000	172,000	155,000	140,000	141,000	141,000	0	0	0
Repurchases of common stock
1,721,000	1,271,000	1,067,000	861,000	1,077,000	1,140,000	939,000	710,000	563,000	451,000	424,000	203,000	254,000	778,000	995,000	1,081,000	1,338,000	900,000	715,000	754,000	388,000	670,000	697,000	522,000	800,000	381,000	314,000	349,000	248,000	256,000	314,000	452,000	447,000	629,000	546,000	452,000	392,000	241,000	0	0	0	-	-	-	-
Excess tax benefits on stock-based awards
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	13,000	12,000	14,000	5,000	6,000	7,000	6,000	10,000	0	0	0	-	-	-	-
Other, net
142,000	133,000	113,000	111,000	57,000	67,000	39,000	55,000	73,000	69,000	90,000	81,000	63,000	25,000	0	0	0	-	-	8,000	50,000	15,000	0	4,000	-36,000	17,000	48,000	54,000	52,000	45,000	17,000	16,000	19,000	14,000	22,000	24,000	23,000	26,000	22,000	14,000	14,000	6,000	0	0	0
Net cash used in financing activities
-1,514,000	-2,095,000	-1,638,000	-1,858,000	-1,695,000	-1,400,000	-1,434,000	-783,000	-962,000	-1,074,000	-968,000	-1,061,000	-941,000	-1,413,000	-1,480,000	-1,717,000	-1,990,000	-1,650,000	-1,459,000	-1,416,000	-1,037,000	-1,343,000	-1,391,000	-231,000	-447,000	52,000	200,000	-781,000	-684,000	-694,000	-735,000	-898,000	-876,000	-1,025,000	-897,000	-607,000	-522,000	-267,000	-231,000	-195,000	-95,000	-141,000	0	0	0
EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS
-93,000	-110,000	-73,000	-39,000	-82,000	-70,000	-43,000	12,000	127,000	98,000	24,000	-32,000	-147,000	-200,000	-174,000	-223,000	-70,000	-87,000	-119,000	-106,000	-148,000	-87,000	17,000	136,000	108,000	35,000	0	0	0	-	-	-	-16,000	-35,000	-29,000	30,000	33,000	5,000	7,000	-15,000	3,000	17,000	0	0	0
Net increase in cash and cash equivalents
363,000	-174,000	338,000	79,000	121,000	-66,000	-68,000	25,000	-115,000	249,000	39,000	248,000	407,000	-591,000	-437,000	-715,000	-1,082,000	-590,000	-640,000	-459,000	-181,000	-398,000	-171,000	837,000	695,000	1,330,000	1,466,000	237,000	166,000	-115,000	-132,000	34,000	538,000	461,000	228,000	187,000	-106,000	93,000	251,000	390,000	532,000	504,000	0	0	0