Name: Cummins Inc. (NYSE:CMI) | Balance Sheet: Assets (Quarterly)
Creator: Stock Analysis on Net

Balance Sheet: Assets
Quarterly Data

The balance sheet provides creditors, investors, and analysts with information on company resources (assets) and its sources of capital (its equity and liabilities). It normally also provides information about the future earnings capacity of a company assets as well as an indication of cash flows that may come from receivables and inventories.

Assets are resources controlled by the company as a result of past events and from which future economic benefits are expected to flow to the entity.

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Cummins Inc., consolidated balance sheet: assets (quarterly data)

US$ in millions

	Mar 31, 2024	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
Cash and cash equivalents	2,541)	2,179)	2,612)	1,802)	1,980)	2,101)	2,499)	2,462)	2,276)	2,592)	2,588)	2,481)	2,958)	3,401)	2,967)	1,751)	1,691)	1,129)	1,560)	1,397)	1,328)
Marketable securities	510)	562)	452)	512)	459)	472)	466)	536)	527)	595)	430)	438)	397)	461)	345)	353)	339)	341)	303)	335)	246)
Cash, cash equivalents and marketable securities	3,051)	2,741)	3,064)	2,314)	2,439)	2,573)	2,965)	2,998)	2,803)	3,187)	3,018)	2,919)	3,355)	3,862)	3,312)	2,104)	2,030)	1,470)	1,863)	1,732)	1,574)
Accounts and notes receivable, net	5,463)	5,583)	5,662)	5,863)	5,834)	5,202)	4,799)	4,156)	4,368)	3,990)	4,152)	4,132)	4,209)	3,820)	3,628)	3,441)	3,505)	3,670)	3,934)	4,179)	4,025)
Inventories	5,758)	5,677)	5,906)	6,026)	5,878)	5,603)	5,543)	4,765)	4,586)	4,355)	4,322)	4,076)	3,753)	3,425)	3,470)	3,655)	3,579)	3,486)	3,821)	3,896)	3,893)
Prepaid expenses and other current assets	1,348)	1,197)	1,280)	1,207)	1,217)	1,073)	1,091)	843)	839)	777)	828)	804)	805)	790)	652)	634)	676)	761)	610)	643)	599)
Current assets	15,620)	15,198)	15,912)	15,410)	15,368)	14,451)	14,398)	12,762)	12,596)	12,309)	12,320)	11,931)	12,122)	11,897)	11,062)	9,834)	9,790)	9,387)	10,228)	10,450)	10,091)
Property, plant and equipment	11,253)	11,674)	11,098)	10,922)	10,629)	10,507)	10,231)	9,374)	9,333)	9,358)	9,156)	9,109)	9,044)	9,011)	8,753)	8,620)	8,578)	8,699)	8,452)	8,424)	8,349)
Accumulated depreciation	(5,242)	(5,425)	(5,297)	(5,199)	(5,039)	(4,986)	(5,030)	(4,985)	(4,952)	(4,936)	(4,971)	(4,935)	(4,848)	(4,756)	(4,666)	(4,553)	(4,450)	(4,454)	(4,396)	(4,347)	(4,283)
Property, plant and equipment, net	6,011)	6,249)	5,801)	5,723)	5,590)	5,521)	5,201)	4,389)	4,381)	4,422)	4,185)	4,174)	4,196)	4,255)	4,087)	4,067)	4,128)	4,245)	4,056)	4,077)	4,066)
Investments and advances related to equity method investees	1,774)	1,800)	1,785)	1,861)	1,860)	1,759)	1,826)	1,544)	1,592)	1,538)	1,543)	1,494)	1,592)	1,441)	1,418)	1,362)	1,304)	1,237)	1,250)	1,274)	1,303)
Goodwill	2,406)	2,499)	2,379)	2,404)	2,365)	2,343)	2,229)	1,391)	1,286)	1,287)	1,289)	1,291)	1,290)	1,293)	1,288)	1,284)	1,283)	1,286)	1,288)	1,125)	1,125)
Other intangible assets, net	2,455)	2,519)	2,518)	2,584)	2,640)	2,687)	2,602)	1,054)	917)	900)	921)	942)	964)	963)	990)	1,017)	965)	1,003)	1,022)	901)	895)
Pension assets	1,187)	1,197)	1,500)	1,523)	1,496)	1,398)	1,536)	1,461)	1,506)	1,488)	1,100)	1,096)	1,085)	1,042)	1,010)	998)	989)	1,001)	970)	960)	939)
Other assets	2,374)	2,543)	2,202)	2,230)	2,114)	2,140)	1,977)	1,876)	1,844)	1,766)	1,705)	1,680)	1,713)	1,733)	1,713)	1,752)	1,617)	1,578)	1,532)	1,467)	1,427)
Long-term assets	16,207)	16,807)	16,185)	16,325)	16,065)	15,848)	15,371)	11,715)	11,526)	11,401)	10,743)	10,677)	10,840)	10,727)	10,506)	10,480)	10,286)	10,350)	10,118)	9,804)	9,755)
Total assets	31,827)	32,005)	32,097)	31,735)	31,433)	30,299)	29,769)	24,477)	24,122)	23,710)	23,063)	22,608)	22,962)	22,624)	21,568)	20,314)	20,076)	19,737)	20,346)	20,254)	19,846)

Total assets experienced a significant expansion over the analyzed period, growing from 19,846 million US dollars in March 2019 to 31,827 million US dollars by March 2024. This growth trajectory was characterized by a steady increase through 2021, followed by a sharp acceleration in the second half of 2022, indicating a substantial increase in the company's asset base.

Current Asset Trends: Current assets rose from 10,091 million US dollars to 15,620 million US dollars. A notable spike in liquidity occurred during 2020, where cash, cash equivalents, and marketable securities peaked at 3,862 million US dollars in December 2020, before stabilizing between 2,300 million and 3,100 million US dollars in subsequent years. Accounts and notes receivable showed a consistent upward trend, particularly accelerating after September 2022, reaching 5,463 million US dollars by March 2024. Inventories also exhibited a steady climb, increasing from 3,893 million US dollars in early 2019 to a peak of 6,026 million US dollars in June 2023, suggesting an expansion in operational scale or strategic inventory buffering.
Long-term Asset Composition: Long-term assets grew from 9,755 million US dollars to 16,207 million US dollars. Property, plant and equipment, net, remained relatively stable until late 2022, when it jumped from 4,422 million US dollars in December 2021 to 6,011 million US dollars by March 2024. The most pronounced change occurred in intangible assets and goodwill; combined, these items surged in the third quarter of 2022, with goodwill rising from approximately 1,300 million US dollars to 2,229 million US dollars and other intangible assets increasing from 1,054 million US dollars to 2,602 million US dollars. This pattern is indicative of a major acquisition or strategic business combination during that period.
Other Asset Components: Investments and advances related to equity method investees showed a gradual increase, moving from 1,303 million US dollars in 2019 to 1,774 million US dollars by 2024. Pension assets demonstrated volatility, generally trending upward from 939 million US dollars to a peak of 1,523 million US dollars in June 2023, before settling at 1,187 million US dollars by the end of the period.

The overall financial structure reveals a shift toward a more asset-intensive balance sheet. The simultaneous increase in net property, plant and equipment, goodwill, and intangible assets suggests that growth was driven by both organic capital expenditures and significant inorganic expansion. Additionally, the rise in receivables and inventories indicates an increase in working capital requirements associated with higher revenue levels or changing market dynamics.

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Cummins Inc. (NYSE:CMI)

Balance Sheet: AssetsQuarterly Data

Assets: Selected Items

Current Assets: Selected Items

Balance Sheet: Assets
Quarterly Data