2013 Q3 Form 10-Q Financial Statement

#000002617213000021 Filed on October 30, 2013

View on sec.gov

Income Statement

Concept 2013 Q3 2012 Q3
Revenue $4.266B $4.118B
YoY Change 3.59% -10.98%
Cost Of Revenue $3.185B $3.076B
YoY Change 3.54% -10.53%
Gross Profit $1.081B $1.042B
YoY Change 3.74% -12.29%
Gross Profit Margin 25.34% 25.3%
Selling, General & Admin $464.0M $456.0M
YoY Change 1.75% -6.75%
% of Gross Profit 42.92% 43.76%
Research & Development $173.0M $186.0M
YoY Change -6.99% 13.41%
% of Gross Profit 16.0% 17.85%
Depreciation & Amortization $105.0M $86.00M
YoY Change 22.09% 2.38%
% of Gross Profit 9.71% 8.25%
Operating Expenses $637.0M $642.0M
YoY Change -0.78% -1.68%
Operating Profit $524.0M $493.0M
YoY Change 6.29% -22.85%
Interest Expense $8.000M $9.000M
YoY Change -11.11% -18.18%
% of Operating Profit 1.53% 1.83%
Other Income/Expense, Net $6.000M -$2.000M
YoY Change -400.0% -75.0%
Pretax Income $528.0M $487.0M
YoY Change 8.42% -22.58%
Income Tax $154.0M $117.0M
% Of Pretax Income 29.17% 24.02%
Net Earnings $374.0M $370.0M
YoY Change 1.08% -21.61%
Net Earnings / Revenue 8.77% 8.98%
Basic Earnings Per Share $1.91 $1.87
Diluted Earnings Per Share $1.90 $1.86
COMMON SHARES
Basic Shares Outstanding 186.0M shares 188.6M shares
Diluted Shares Outstanding 186.5M shares 189.0M shares

Balance Sheet

Concept 2013 Q3 2012 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $2.661B $1.406B
YoY Change 89.26% -2.23%
Cash & Equivalents $2.499B $1.033B
Short-Term Investments $162.0M $261.0M
Other Short-Term Assets $643.0M $639.0M
YoY Change 0.63% 1.91%
Inventory $2.513B $2.570B
Prepaid Expenses
Receivables $2.709B $2.620B
Other Receivables $0.00 $0.00
Total Short-Term Assets $8.526B $7.115B
YoY Change 19.83% 1.27%
LONG-TERM ASSETS
Property, Plant & Equipment $2.948B $2.557B
YoY Change 15.29% 17.94%
Goodwill $457.0M $443.0M
YoY Change 3.16%
Intangibles $362.0M $365.0M
YoY Change -0.82%
Long-Term Investments $966.0M $890.0M
YoY Change 8.54% 7.23%
Other Assets $1.077B $972.0M
YoY Change 10.8% 29.08%
Total Long-Term Assets $5.810B $5.299B
YoY Change 9.64% 22.89%
TOTAL ASSETS
Total Short-Term Assets $8.526B $7.115B
Total Long-Term Assets $5.810B $5.299B
Total Assets $14.34B $12.41B
YoY Change 15.48% 9.49%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.613B $1.460B
YoY Change 10.48% -12.0%
Accrued Expenses $1.326B $1.329B
YoY Change -0.23% -15.67%
Deferred Revenue
YoY Change
Short-Term Debt $15.00M $54.00M
YoY Change -72.22% 12.5%
Long-Term Debt Due $47.00M $77.00M
YoY Change -38.96%
Total Short-Term Liabilities $3.390B $3.309B
YoY Change 2.45% -11.57%
LONG-TERM LIABILITIES
Long-Term Debt $1.731B $653.0M
YoY Change 165.08% -1.8%
Other Long-Term Liabilities $1.751B $1.509B
YoY Change 16.04% 8.8%
Total Long-Term Liabilities $3.482B $2.162B
YoY Change 61.05% 5.36%
TOTAL LIABILITIES
Total Short-Term Liabilities $3.390B $3.309B
Total Long-Term Liabilities $3.482B $2.162B
Total Liabilities $6.872B $5.580B
YoY Change 23.15% -8.93%
SHAREHOLDERS EQUITY
Retained Earnings $8.089B $7.068B
YoY Change 14.45%
Common Stock $2.095B $2.046B
YoY Change 2.39%
Preferred Stock
YoY Change
Treasury Stock (at cost) $2.104B $1.809B
YoY Change 16.31%
Treasury Stock Shares 34.90M shares 32.30M shares
Shareholders Equity $7.096B $6.478B
YoY Change
Total Liabilities & Shareholders Equity $14.34B $12.41B
YoY Change 15.48% 9.49%

Cashflow Statement

Concept 2013 Q3 2012 Q3
OPERATING ACTIVITIES
Net Income $374.0M $370.0M
YoY Change 1.08% -21.61%
Depreciation, Depletion And Amortization $105.0M $86.00M
YoY Change 22.09% 2.38%
Cash From Operating Activities $373.0M $376.0M
YoY Change -0.8% -39.74%
INVESTING ACTIVITIES
Capital Expenditures -$161.0M -$164.0M
YoY Change -1.83% -4.09%
Acquisitions
YoY Change
Other Investing Activities $27.00M -$84.00M
YoY Change -132.14% 147.06%
Cash From Investing Activities -$134.0M -$248.0M
YoY Change -45.97% 20.98%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 817.0M -273.0M
YoY Change -399.27% -16.51%
NET CHANGE
Cash From Operating Activities 373.0M 376.0M
Cash From Investing Activities -134.0M -248.0M
Cash From Financing Activities 817.0M -273.0M
Net Change In Cash 1.056B -145.0M
YoY Change -828.28% -257.61%
FREE CASH FLOW
Cash From Operating Activities $373.0M $376.0M
Capital Expenditures -$161.0M -$164.0M
Free Cash Flow $534.0M $540.0M
YoY Change -1.11% -32.08%

Facts In Submission

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dei Amendment Flag
AmendmentFlag
false
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
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dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2013
dei Document Period End Date
DocumentPeriodEndDate
2013-09-29
dei Document Type
DocumentType
10-Q
dei Entity Central Index Key
EntityCentralIndexKey
0000026172
CY2013Q3 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
187364208 shares
dei Entity Current Reporting Status
EntityCurrentReportingStatus
Yes
dei Entity Filer Category
EntityFilerCategory
Large Accelerated Filer
dei Entity Registrant Name
EntityRegistrantName
CUMMINS INC

Files In Submission

Name View Source Status
0000026172-13-000021-index-headers.html Edgar Link pending
0000026172-13-000021-index.html Edgar Link pending
0000026172-13-000021.txt Edgar Link pending
0000026172-13-000021-xbrl.zip Edgar Link pending
cmi-20130929.xml Edgar Link completed
cmi-20130929.xsd Edgar Link pending
cmi-20130929_cal.xml Edgar Link unprocessable
cmi-20130929_def.xml Edgar Link unprocessable
cmi-20130929_lab.xml Edgar Link unprocessable
cmi-20130929_pre.xml Edgar Link unprocessable
cmi930201310-q.htm Edgar Link pending
cumminsc.jpg Edgar Link pending
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