Cummins inc. (CMI)
Income statement / TTM
Mar'20Dec'19Sep'19Jun'19Mar'19Dec'18Sep'18Jul'18Apr'18Dec'17Sep'17Jun'17Mar'17Dec'16Sep'16Jun'16Mar'16Dec'15Sep'15Jun'15Mar'15Dec'14Sep'14Jun'14Mar'14Dec'13Sep'13Jun'13Mar'13Dec'12Sep'12Jun'12Mar'12Dec'11Sep'11Jun'11Mar'11Dec'10Sep'10Jun'10Mar'10Dec'09Sep'09Jun'09Mar'09Sep'08Jun'08
NET SALES (a) (Note 3)

22,578

23,571

24,119

24,294

24,205

23,771

23,121

22,463

21,409

20,428

19,455

18,357

17,807

17,509

17,772

18,205

18,692

19,110

19,434

19,704

19,524

19,221

18,719

18,095

17,785

17,301

17,005

16,857

16,784

17,334

17,963

18,471

18,660

18,048

17,266

16,041

14,608

13,226

12,487

11,616

10,839

10,800

11,093

12,450

0

0

0

Cost of sales

16,836

17,591

17,906

18,024

18,136

18,034

17,554

17,106

16,241

15,328

14,605

13,769

13,273

13,051

13,228

13,532

13,884

14,163

14,426

14,620

14,567

14,360

14,042

13,621

13,363

13,021

12,848

12,739

12,609

12,918

13,272

13,634

13,830

13,459

12,934

12,067

11,084

10,058

9,530

8,986

8,514

8,631

8,877

9,858

0

0

0

GROSS MARGIN

5,742

5,980

6,213

6,270

6,069

5,737

5,567

5,357

5,168

5,100

4,850

4,588

4,534

4,458

4,544

4,673

4,808

4,947

5,008

5,084

4,957

4,861

4,677

4,474

4,422

4,280

4,157

4,118

4,175

4,416

4,691

4,837

4,830

4,589

4,332

3,974

3,524

3,168

2,957

2,630

2,325

2,169

2,216

2,592

0

0

0

OPERATING EXPENSES AND INCOME
Selling, general and administrative expenses

2,407

2,454

2,465

2,469

2,453

2,437

2,437

2,466

2,459

2,429

2,358

2,238

2,156

2,099

2,035

2,052

2,065

2,092

2,152

2,151

2,127

2,095

1,952

1,887

1,858

1,817

1,782

1,774

1,777

1,808

1,914

1,947

1,923

1,837

1,764

1,650

1,541

1,487

1,412

1,341

1,274

1,239

1,279

1,345

0

0

0

Research, development and engineering expenses

1,002

1,001

974

961

929

902

866

850

806

754

705

649

629

637

655

695

706

735

745

746

759

754

748

723

721

713

706

719

729

728

733

711

681

629

573

512

451

414

399

386

369

362

367

381

0

0

0

Income (Loss) from Equity Method Investments

367

330

335

357

371

394

371

376

364

357

368

347

337

301

309

313

319

315

316

337

348

370

374

366

369

361

363

366

362

384

403

411

424

416

405

391

371

351

328

297

257

214

213

225

0

0

0

Loss Contingency, Loss in Period

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Restructuring actions and other charges (Note 20)

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

99

0

0

0

-

-

Gain on sale of businesses (Note 2)

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

Other operating (expense) income, net

-46

-36

-32

-16

-3

-6

6

43

57

60

52

20

2

-5

-14

-16

-16

-17

-18

-13

-19

-17

-14

-28

-12

-10

-19

-9

-11

-10

34

37

29

21

-7

-14

-18

-16

-8

0

-7

-1

-8

-17

0

0

0

OPERATING INCOME

2,535

2,700

3,077

3,181

3,055

2,786

2,641

2,460

2,324

2,334

2,207

1,969

1,950

1,880

1,650

1,823

1,979

2,057

2,409

2,511

2,400

2,365

2,337

2,202

2,200

2,101

2,013

1,982

2,020

2,254

2,534

2,680

2,800

2,681

2,461

2,257

1,885

1,602

1,462

1,174

899

682

680

1,001

0

0

0

Interest income

41

46

47

42

40

35

33

28

23

18

16

18

19

23

22

25

25

24

26

23

23

23

23

23

27

27

26

25

22

25

29

33

36

34

32

29

24

21

17

13

9

8

9

11

0

0

0

Interest expense

100

109

119

123

122

114

106

94

87

81

75

73

68

69

69

69

70

65

64

63

61

64

66

59

52

41

29

30

30

32

35

37

42

44

45

45

41

40

38

36

37

35

36

39

0

0

0

Other income, net

168

197

176

131

102

46

71

62

80

94

129

123

112

96

31

34

8

9

54

62

109

110

75

62

24

32

35

27

40

24

28

22

5

0

-5

11

14

34

20

18

5

-15

-17

-26

0

0

0

INCOME BEFORE INCOME TAXES

2,644

2,834

3,181

3,231

3,075

2,753

2,639

2,456

2,340

2,365

2,277

2,037

2,013

1,930

1,634

1,813

1,942

2,025

2,425

2,533

2,471

2,434

2,369

2,228

2,199

2,119

2,045

2,004

2,052

2,271

2,556

2,698

2,799

2,671

2,443

2,252

1,882

1,617

1,461

1,169

876

640

636

947

0

0

0

Income Tax Expense (Benefit)

517

566

601

569

544

566

1,371

1,429

1,426

1,371

578

495

485

474

396

483

543

555

666

727

689

698

639

563

565

531

520

483

477

533

644

684

743

725

678

650

547

477

422

329

236

156

195

306

0

0

0

CONSOLIDATED NET INCOME

2,127

2,268

2,580

2,662

2,531

2,187

1,268

1,027

914

994

1,699

1,542

1,528

1,456

1,238

1,330

1,399

1,470

1,759

1,806

1,782

1,736

1,730

1,665

1,634

1,588

1,525

1,521

1,575

1,738

1,912

2,014

2,056

1,946

1,765

1,602

1,335

1,140

1,039

840

640

484

441

641

0

0

0

Less: Net income attributable to noncontrolling interests

19

8

41

53

52

46

-20

-22

-14

-5

48

55

59

62

61

62

66

71

77

81

82

85

91

94

95

105

105

104

103

93

88

90

96

98

103

109

101

100

91

80

70

56

54

56

0

0

0

NET INCOME ATTRIBUTABLE TO CUMMINS INC.

2,108

2,260

2,539

2,609

2,479

2,141

1,288

1,049

928

999

1,651

1,487

1,469

1,394

1,177

1,268

1,333

1,399

1,682

1,725

1,700

1,651

1,639

1,571

1,539

1,483

1,420

1,417

1,472

1,645

1,824

1,924

1,960

1,848

1,662

1,493

1,234

1,040

948

760

570

428

387

585

0

0

0

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

3.42

2.04

3.99

4.29

4.22

3.61

4.29

3.33

1.97

-1.62

2.72

2.53

2.36

2.25

1.72

2.41

1.87

0.94

2.15

2.63

2.14

2.45

2.32

2.44

1.83

2.32

1.91

2.20

1.50

1.96

1.87

2.47

2.39

2.87

2.35

2.61

1.75

1.84

1.45

1.25

0.75

1.37

0.48

0.28

0.04

1.18

1.50

Diluted (in dollars per share)

3.41

2.04

3.97

4.27

4.20

3.59

4.28

3.32

1.96

-1.63

2.71

2.53

2.36

2.24

1.72

2.40

1.87

0.94

2.14

2.62

2.14

2.44

2.32

2.43

1.83

2.32

1.90

2.20

1.49

1.96

1.86

2.47

2.38

2.85

2.35

2.60

1.75

1.84

1.44

1.25

0.75

1.36

0.48

0.28

0.04

1.17

1.49

WEIGHTED AVERAGE COMMON SHARES OUTSTANDING
Basic (in shares)

149

-

155

157

157

-

161

163

164

-

166

167

167

-

167

168

171

-

177

179

180

-

182

182

184

-

186

187

188

-

188

189

190

-

192

193

195

-

195

196

198

-

197

197

196

194

195

Dilutive effect of stock compensation awards (in shares)

0

-

0

0

0

-

0

0

0

-

0

0

0

-

0

0

0

-

0

0

0

-

0

0

0

-

0

0

0

-

0

0

0

-

0

0

0

-

0

0

0

-

0

0

0

1

1

Diluted (in shares)

149

-

156

158

157

-

161

164

165

-

167

167

168

-

168

169

172

-

177

179

181

-

182

183

184

-

186

188

188

-

189

190

190

-

192

194

196

-

196

197

198

-

197

197

197

196

196

CASH DIVIDENDS DECLARED PER COMMON SHARE (in dollars per share)

-

-

-

-

-

-

-

-

-

-

1.08

1.02

1.02

-

1.02

0.97

0.97

-

0.97

0.78

0.78

-

0.78

0.62

0.62

-

0.62

0.50

0.50

-

0.50

0.40

0.40

-

0.40

0.26

0.26

-

0.26

0.17

0.17

-

0.17

0.17

0.17

0.17

0.12

Sales to nonconsolidated equity investees

1,163

1,191

1,198

1,232

1,255

1,267

1,290

1,261

1,204

1,174

1,070

1,060

1,053

1,028

1,046

1,045

1,126

1,209

0

0

0

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-