Cummins inc. (CMI)
Income statement / Yearly
Dec'19Dec'18Dec'17Dec'16Dec'15Dec'14Dec'13Dec'12Dec'11Dec'10Dec'09Dec'08Dec'07
NET SALES (a) (Note 3)

23,571

23,771

20,428

17,509

19,110

19,221

17,301

17,334

18,048

13,226

10,800

14,342

13,048

Cost of sales

17,591

18,034

15,328

13,051

14,163

14,360

13,021

12,918

13,459

10,058

8,631

11,402

10,492

GROSS MARGIN

5,980

5,737

5,100

4,458

4,947

4,861

4,280

4,416

4,589

3,168

2,169

2,940

2,556

OPERATING EXPENSES AND INCOME
Selling, general and administrative expenses

2,454

2,437

2,429

2,099

2,092

2,095

1,817

1,808

1,837

1,487

1,239

1,450

1,296

Research, development and engineering expenses

1,001

902

754

637

735

754

713

728

629

414

362

422

329

Income (Loss) from Equity Method Investments

330

394

357

301

315

370

361

384

416

351

214

253

205

Severance Costs

119

0

0

-

-

-

-

-

-

-

-

-

-

Loss Contingency, Loss in Period

-

-

-

138

60

0

-

-

-

-

-

-

-

Impairment of light-duty diesel assets (Note 19)

-

-

-

-

211

0

0

-

-

-

-

-

-

Restructuring actions and other charges (Note 20)

-

-

-

-

90

-

-

-

-

-

99

37

-

Gain on sale of businesses (Note 2)

-

-

-

-

-

-

-

-

121

-

-

-

-

Other operating (expense) income, net

-36

-6

60

-5

-17

-17

-10

-10

21

-16

-1

-12

22

OPERATING INCOME

2,700

2,786

2,334

1,880

2,057

2,365

2,101

2,254

2,681

1,602

682

1,272

1,158

Interest income

46

35

18

23

24

23

27

25

34

21

8

18

36

Interest expense

109

114

81

69

65

64

41

32

44

40

35

42

58

Other income, net

197

46

94

96

9

110

32

24

0

34

-15

-70

33

INCOME BEFORE INCOME TAXES

2,834

2,753

2,365

1,930

2,025

2,434

2,119

2,271

2,671

1,617

640

1,178

1,169

Income Tax Expense (Benefit)

566

566

1,371

474

555

698

531

533

725

477

156

360

381

CONSOLIDATED NET INCOME

2,268

2,187

994

1,456

1,470

1,736

1,588

1,738

1,946

1,140

484

818

788

Less: Net income attributable to noncontrolling interests

8

46

-5

62

71

85

105

93

98

100

56

63

49

NET INCOME ATTRIBUTABLE TO CUMMINS INC.

2,260

2,141

999

1,394

1,399

1,651

1,483

1,645

1,848

1,040

428

755

739

EARNINGS PER COMMON SHARE ATTRIBUTABLE TO CUMMINS INC.
Basic (in dollars per share)

14.54

13.20

5.99

8.25

7.86

9.04

7.93

8.69

9.58

5.29

2.17

3.87

3.72

Diluted (in dollars per share)

14.48

13.15

5.97

8.23

7.84

9.02

7.91

8.67

9.55

5.28

2.16

3.84

3.70

WEIGHTED AVERAGE COMMON SHARES OUTSTANDING
Sales to nonconsolidated equity investees

1,191

1,267

1,174

1,028

1,209

-

-

-

-

-

-

-

-