Stock Analysis on Net
Stock Analysis on Net

Cummins Inc. (NYSE:CMI)

Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
Quarterly Data

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

Microsoft Excel
Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Oct 3, 2021 Jul 4, 2021 Apr 4, 2021 Dec 31, 2020 Sep 27, 2020 Jun 28, 2020 Mar 29, 2020 Dec 31, 2019 Sep 29, 2019 Jun 30, 2019 Mar 31, 2019
Accounts payable, principally trade 13.31 13.28 13.57 14.75 14.03 13.44 13.91 14.50 12.74 13.92 14.03 14.28 12.46 12.04 11.23 13.19 12.84 13.91 14.77 15.21
Loans payable 0.87 0.72 1.32 0.73 0.69 0.73 0.67 1.01 0.88 0.37 0.24 0.41 0.75 0.60 0.54 0.60 0.51 0.51 0.59 0.35
Commercial paper 4.67 5.33 5.10 8.10 8.50 8.04 2.88 1.29 1.32 0.87 0.88 1.38 1.43 1.47 9.98 8.05 3.34 4.43 2.14 3.57
Current maturities of long-term debt 0.37 1.79 1.81 1.81 1.89 0.18 0.27 0.29 0.25 0.24 0.25 0.27 0.27 0.27 0.32 0.16 0.16 0.18 0.23 0.19
Accrued compensation, benefits and retirement costs 3.46 2.75 2.27 1.62 2.04 1.93 1.81 1.70 2.88 2.71 2.52 1.71 2.14 2.01 1.52 1.60 2.84 2.43 2.30 1.83
Current portion of accrued product warranty 2.08 2.28 2.37 2.37 2.40 2.69 3.25 3.31 3.18 3.01 2.92 2.71 2.98 3.00 3.35 3.70 4.07 4.02 3.99 3.84
Current portion of deferred revenue 3.81 3.21 3.20 3.31 3.31 3.09 3.56 3.66 3.61 3.49 3.56 3.37 3.05 2.50 2.57 2.63 2.70 2.68 2.49 2.56
Other accrued expenses 11.73 5.32 5.16 5.24 4.84 5.27 4.99 5.39 5.02 5.14 4.80 4.88 4.92 4.59 4.53 4.84 5.26 4.90 4.54 4.83
Current liabilities 40.32% 34.66% 34.80% 37.93% 37.69% 35.37% 31.34% 31.14% 29.88% 29.75% 29.21% 29.00% 28.00% 26.47% 34.05% 34.78% 31.72% 33.05% 31.05% 32.38%
Long-term debt 15.00 15.42 16.04 14.03 14.85 18.31 14.26 14.52 15.09 15.62 16.01 15.77 15.96 16.73 8.07 7.87 7.99 7.96 8.02 8.09
Deferred revenue 3.02 3.15 2.96 2.98 2.79 2.91 3.48 3.64 3.58 3.62 3.66 3.61 3.71 3.88 4.08 4.17 4.16 3.78 3.58 3.51
Other liabilities 10.72 10.38 10.42 10.44 10.93 11.13 11.48 11.89 11.79 11.97 12.22 12.29 12.60 12.85 13.78 13.24 13.25 12.19 11.94 12.04
Long-term liabilities 28.74% 28.95% 29.41% 27.45% 28.56% 32.35% 29.22% 30.04% 30.47% 31.21% 31.90% 31.67% 32.27% 33.47% 25.93% 25.28% 25.39% 23.93% 23.55% 23.64%
Total liabilities 69.05% 63.62% 64.22% 65.38% 66.25% 67.72% 60.55% 61.18% 60.35% 60.96% 61.11% 60.67% 60.27% 59.94% 59.98% 60.06% 57.11% 56.98% 54.60% 56.03%
Redeemable noncontrolling interests 0.00 0.00 0.00 0.83 0.85 0.85 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Common stock, $2.50 par value 8.01 7.97 7.98 7.09 7.40 7.44 9.90 10.00 10.24 10.46 10.64 10.42 10.63 11.06 11.58 11.63 11.89 11.41 11.39 11.45
Retained earnings 55.78 60.82 60.19 59.19 59.53 59.22 71.29 70.28 70.61 71.78 71.78 68.92 68.15 70.09 72.91 73.36 73.04 70.36 68.61 67.52
Treasury stock, at cost -29.24 -29.19 -29.56 -29.87 -31.07 -31.74 -38.56 -39.02 -38.48 -38.91 -39.09 -35.59 -34.38 -35.68 -38.05 -38.57 -36.61 -33.34 -30.03 -30.79
Common stock held by employee benefits trust, at cost 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 -0.01 -0.01 -0.02 -0.02
Accumulated other comprehensive loss -6.89 -6.39 -6.04 -5.80 -6.24 -6.76 -6.93 -6.28 -6.63 -8.29 -8.53 -8.44 -8.76 -9.77 -11.04 -11.21 -10.28 -10.03 -9.08 -8.76
Total Cummins Inc. shareholders’ equity 27.65% 33.21% 32.57% 30.61% 29.62% 28.15% 35.70% 34.97% 35.74% 35.04% 34.79% 35.31% 35.63% 35.70% 35.40% 35.21% 38.04% 38.39% 40.87% 39.40%
Noncontrolling interests 3.29 3.18 3.21 3.17 3.27 3.29 3.75 3.84 3.91 3.99 4.10 4.02 4.10 4.36 4.62 4.73 4.85 4.63 4.53 4.57
Total equity 30.95% 36.38% 35.78% 33.79% 32.90% 31.44% 39.45% 38.82% 39.65% 39.04% 38.89% 39.33% 39.73% 40.06% 40.02% 39.94% 42.89% 43.02% 45.40% 43.97%
Total liabilities, redeemable noncontrolling interests and equity 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%

Based on: 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-10-03), 10-Q (reporting date: 2021-07-04), 10-Q (reporting date: 2021-04-04), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-27), 10-Q (reporting date: 2020-06-28), 10-Q (reporting date: 2020-03-29), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-29), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).

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 decreased from Q2 2023 to Q3 2023 but then increased from Q3 2023 to Q4 2023 exceeding Q2 2023 level.
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 Q2 2023 to Q3 2023 and from Q3 2023 to Q4 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 decreased from Q2 2023 to Q3 2023 but then increased from Q3 2023 to Q4 2023 exceeding Q2 2023 level.
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 increased from Q2 2023 to Q3 2023 but then decreased significantly from Q3 2023 to Q4 2023.