Stock Analysis on Net
Stock Analysis on Net

Cummins Inc. (NYSE:CMI)

Common-Size Balance Sheet: Liabilities and Stockholders’ Equity

Cummins Inc., common-size consolidated balance sheet: liabilities and stockholders’ equity

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Accounts payable, principally trade 13.31 14.03 12.74 12.46 12.84
Loans payable 0.87 0.69 0.88 0.75 0.51
Commercial paper 4.67 8.50 1.32 1.43 3.34
Current maturities of long-term debt 0.37 1.89 0.25 0.27 0.16
Accrued compensation, benefits and retirement costs 3.46 2.04 2.88 2.14 2.84
Current portion of accrued product warranty 2.08 2.40 3.18 2.98 4.07
Current portion of deferred revenue 3.81 3.31 3.61 3.05 2.70
Agreement in Principle 6.06 0.00 0.00 0.00 0.00
Marketing accruals 1.25 1.04 1.28 1.07 0.89
Other taxes payable 0.92 0.74 0.99 1.13 1.16
Income taxes payable 0.76 0.57 0.45 0.36 0.26
Current portion of operating lease liabilities 0.43 0.44 0.54 0.57 0.66
Other 2.32 2.05 1.76 1.79 2.29
Other accrued expenses 11.73% 4.84% 5.02% 4.92% 5.26%
Current liabilities 40.32% 37.69% 29.88% 28.00% 31.72%
Long-term debt 15.00 14.85 15.09 15.96 7.99
Deferred revenue 3.02 2.79 3.58 3.71 4.16
Accrued product warranty 2.43 2.46 2.88 2.97 3.27
Pensions 1.66 1.47 1.82 1.91 1.95
Deferred income taxes 1.66 2.14 1.70 1.44 1.55
Long-term portion of operating lease liabilities 1.17 1.21 1.37 1.44 1.87
Accrued compensation 0.67 0.61 0.75 0.90 1.04
Other postretirement benefits 0.41 0.47 0.73 0.88 1.04
Mark-to-market valuation on interest rate derivatives 0.37 0.50 0.08 0.18 0.06
Long-term income taxes 0.35 0.63 1.11 1.28 1.48
Other long-term liabilities 2.02 1.44 1.35 1.61 0.97
Other liabilities 10.72% 10.93% 11.79% 12.60% 13.25%
Long-term liabilities 28.74% 28.56% 30.47% 32.27% 25.39%
Total liabilities 69.05% 66.25% 60.35% 60.27% 57.11%
Redeemable noncontrolling interests 0.00 0.85 0.00 0.00 0.00
Common stock, $2.50 par value 8.01 7.40 10.24 10.63 11.89
Retained earnings 55.78 59.53 70.61 68.15 73.04
Treasury stock, at cost -29.24 -31.07 -38.48 -34.38 -36.61
Common stock held by employee benefits trust, at cost 0.00 0.00 0.00 0.00 -0.01
Accumulated other comprehensive loss -6.89 -6.24 -6.63 -8.76 -10.28
Total Cummins Inc. shareholders’ equity 27.65% 29.62% 35.74% 35.63% 38.04%
Noncontrolling interests 3.29 3.27 3.91 4.10 4.85
Total equity 30.95% 32.90% 39.65% 39.73% 42.89%
Total liabilities, redeemable noncontrolling interests and equity 100.00% 100.00% 100.00% 100.00% 100.00%

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).

Balance sheet item Description The company
Current liabilities Total obligations incurred as part of normal operations that are expected to be paid during the following twelve months or within one business cycle, if longer. Cummins Inc. current liabilities as a percentage of total liabilities, redeemable noncontrolling interests and equity increased from 2021 to 2022 and from 2022 to 2023.
Long-term liabilities Amount of obligation due after one year or beyond the normal operating cycle, if longer. Cummins Inc. long-term liabilities as a percentage of total liabilities, redeemable noncontrolling interests and equity decreased from 2021 to 2022 but then slightly increased from 2022 to 2023.
Total liabilities Sum of the carrying amounts as of the balance sheet date of all liabilities that are recognized. Liabilities are probable future sacrifices of economic benefits arising from present obligations of an entity to transfer assets or provide services to other entities in the future. Cummins Inc. total liabilities as a percentage of total liabilities, redeemable noncontrolling interests and equity increased from 2021 to 2022 and from 2022 to 2023.
Total Cummins Inc. shareholders’ equity Total of all stockholders’ equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which are attributable to the parent. The amount of the economic entity stockholders’ equity attributable to the parent excludes the amount of stockholders’ equity which is allocable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). This excludes temporary equity and is sometimes called permanent equity. Cummins Inc. total Cummins Inc. shareholders’ equity as a percentage of total liabilities, redeemable noncontrolling interests and equity decreased from 2021 to 2022 and from 2022 to 2023.