Stock Analysis on Net
Stock Analysis on Net

Cummins Inc. (NYSE:CMI)

$24.99

Income Statement

The income statement presents information on the financial results of a company business activities over a period of time. The income statement communicates how much revenue the company generated during a period and what cost it incurred in connection with generating that revenue.

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Cummins Inc., consolidated income statement

US$ in millions

Microsoft Excel
12 months ended: Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Net sales
Cost of sales
Gross margin
Selling, general and administrative expenses
Research, development and engineering expenses
Equity, royalty and interest income from investees
Restructuring actions
Other operating expense, net
Operating income and expenses
Operating income
Interest expense
Other income, net
Income before income taxes
Income tax expense
Consolidated net income
Net income attributable to noncontrolling interests
Net income attributable to Cummins Inc.

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

Income statement item Description The company
Net sales Amount, including tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value-added and excise. Cummins Inc. net sales increased from 2021 to 2022 and from 2022 to 2023.
Operating income The net result for the period of deducting operating expenses from operating revenues. Cummins Inc. operating income increased from 2021 to 2022 but then decreased significantly from 2022 to 2023.
Income before income taxes Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest. Cummins Inc. income before income taxes increased from 2021 to 2022 but then decreased significantly from 2022 to 2023.
Net income attributable to Cummins Inc. The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Cummins Inc. net income attributable to Cummins Inc. increased from 2021 to 2022 but then decreased significantly from 2022 to 2023.