$CMI
CUMMINS INC

2017 Q3 Form 10-Q Financial Statement

#000002617218000039 Filed on July 31, 2018

View on sec.gov

Income Statement

Concept 2017 Q3
Revenue $5.078B
YoY Change 12.15%
Cost Of Revenue $3.827B
YoY Change 14.89%
Gross Profit $1.251B
YoY Change 4.51%
Gross Profit Margin 24.64%
Selling, General & Admin $606.0M
YoY Change 15.65%
% of Gross Profit 48.44%
Research & Development $175.0M
YoY Change 12.9%
% of Gross Profit 13.99%
Depreciation & Amortization $145.0M
YoY Change 10.69%
% of Gross Profit 11.59%
Operating Expenses $781.0M
YoY Change 15.02%
Operating Profit $586.0M
YoY Change 3.35%
Interest Expense $21.00M
YoY Change 31.25%
% of Operating Profit 3.58%
Other Income/Expense, Net $29.00M
YoY Change 61.11%
Pretax Income $599.0M
YoY Change 4.17%
Income Tax $158.0M
% Of Pretax Income 26.38%
Net Earnings $441.0M
YoY Change 3.28%
Net Earnings / Revenue 8.68%
Basic Earnings Per Share $2.53
Diluted Earnings Per Share $2.53
COMMON SHARES
Basic Shares Outstanding 167.3M shares
Diluted Shares Outstanding 167.8M shares

Balance Sheet

Concept 2017 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.467B
YoY Change 14.61%
Cash & Equivalents $1.293B
Short-Term Investments $174.0M
Other Short-Term Assets $600.0M
YoY Change 9.29%
Inventory $2.982B
Prepaid Expenses
Receivables $3.553B
Other Receivables $0.00
Total Short-Term Assets $8.602B
YoY Change 12.74%
LONG-TERM ASSETS
Property, Plant & Equipment $3.787B
YoY Change 2.27%
Goodwill $488.0M
YoY Change 1.46%
Intangibles $339.0M
YoY Change 3.35%
Long-Term Investments $1.162B
YoY Change 8.29%
Other Assets $1.030B
YoY Change -1.06%
Total Long-Term Assets $7.658B
YoY Change 3.63%
TOTAL ASSETS
Total Short-Term Assets $8.602B
Total Long-Term Assets $7.658B
Total Assets $16.26B
YoY Change 8.26%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.300B
YoY Change 26.03%
Accrued Expenses $1.841B
YoY Change 12.6%
Deferred Revenue
YoY Change
Short-Term Debt $188.0M
YoY Change -14.16%
Long-Term Debt Due $45.00M
YoY Change 18.42%
Total Short-Term Liabilities $4.894B
YoY Change 17.93%
LONG-TERM LIABILITIES
Long-Term Debt $1.564B
YoY Change -3.1%
Other Long-Term Liabilities $1.980B
YoY Change -3.93%
Total Long-Term Liabilities $3.544B
YoY Change -3.56%
TOTAL LIABILITIES
Total Short-Term Liabilities $4.894B
Total Long-Term Liabilities $3.544B
Total Liabilities $8.438B
YoY Change 7.83%
SHAREHOLDERS EQUITY
Retained Earnings $11.52B
YoY Change 7.47%
Common Stock $2.184B
YoY Change -0.55%
Preferred Stock
YoY Change
Treasury Stock (at cost) $4.586B
YoY Change 3.71%
Treasury Stock Shares 54.70M shares
Shareholders Equity $7.493B
YoY Change
Total Liabilities & Shareholders Equity $16.26B
YoY Change 8.26%

Cashflow Statement

Concept 2017 Q3
OPERATING ACTIVITIES
Net Income $441.0M
YoY Change 3.28%
Depreciation, Depletion And Amortization $145.0M
YoY Change 10.69%
Cash From Operating Activities $447.0M
YoY Change -5.1%
INVESTING ACTIVITIES
Capital Expenditures -$114.0M
YoY Change -13.64%
Acquisitions
YoY Change
Other Investing Activities -$19.00M
YoY Change -114.73%
Cash From Investing Activities -$133.0M
YoY Change 4333.33%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -380.0M
YoY Change 46.15%
NET CHANGE
Cash From Operating Activities 447.0M
Cash From Investing Activities -133.0M
Cash From Financing Activities -380.0M
Net Change In Cash -66.00M
YoY Change -131.73%
FREE CASH FLOW
Cash From Operating Activities $447.0M
Capital Expenditures -$114.0M
Free Cash Flow $561.0M
YoY Change -6.97%

Facts In Submission

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CY2017Q4 us-gaap Defined Benefit Pension Plan Liabilities Noncurrent
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CY2018Q3 us-gaap Other Liabilities And Deferred Revenue Noncurrent
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CY2017Q4 us-gaap Other Liabilities And Deferred Revenue Noncurrent
OtherLiabilitiesAndDeferredRevenueNoncurrent
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CY2018Q3 us-gaap Liabilities
Liabilities
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CY2017Q4 us-gaap Liabilities
Liabilities
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CY2018Q3 us-gaap Commitments And Contingencies
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CY2017Q4 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
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CY2018Q3 us-gaap Common Stock Value Outstanding
CommonStockValueOutstanding
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CY2017Q4 us-gaap Common Stock Value Outstanding
CommonStockValueOutstanding
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CY2018Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
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CY2017Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
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CY2018Q3 us-gaap Treasury Stock Value
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CY2017Q4 us-gaap Treasury Stock Value
TreasuryStockValue
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CY2018Q3 us-gaap Common Stock Issued Employee Stock Trust
CommonStockIssuedEmployeeStockTrust
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CY2017Q4 us-gaap Common Stock Issued Employee Stock Trust
CommonStockIssuedEmployeeStockTrust
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CY2018Q3 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
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CY2017Q4 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
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CY2018Q3 us-gaap Stockholders Equity
StockholdersEquity
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CY2017Q4 us-gaap Stockholders Equity
StockholdersEquity
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CY2018Q3 us-gaap Minority Interest
MinorityInterest
895000000 USD
CY2017Q4 us-gaap Minority Interest
MinorityInterest
905000000 USD
CY2018Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
8194000000 USD
CY2017Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
8164000000 USD
CY2018Q3 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
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CY2017Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
18075000000 USD
us-gaap Profit Loss
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879000000 USD
us-gaap Profit Loss
ProfitLoss
846000000 USD
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
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us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
284000000 USD
us-gaap Deferred Income Taxes And Tax Credits
DeferredIncomeTaxesAndTaxCredits
-21000000 USD
us-gaap Income Loss From Equity Method Investments Net Of Dividends Or Distributions
IncomeLossFromEquityMethodInvestmentsNetOfDividendsOrDistributions
163000000 USD
us-gaap Deferred Income Taxes And Tax Credits
DeferredIncomeTaxesAndTaxCredits
0 USD
us-gaap Income Loss From Equity Method Investments Net Of Dividends Or Distributions
IncomeLossFromEquityMethodInvestmentsNetOfDividendsOrDistributions
132000000 USD
cmi Pension Contributions Expense Net
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25000000 USD
cmi Pension Contributions Expense Net
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us-gaap Other Postretirement Benefits Payments
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us-gaap Other Postretirement Benefits Payments
OtherPostretirementBenefitsPayments
8000000 USD
us-gaap Share Based Compensation
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28000000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
23000000 USD
us-gaap Loss Contingency Accrual Payments
LossContingencyAccrualPayments
65000000 USD
us-gaap Loss Contingency Accrual Payments
LossContingencyAccrualPayments
0 USD
us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
21000000 USD
us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
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us-gaap Increase Decrease In Accounts And Notes Receivable
IncreaseDecreaseInAccountsAndNotesReceivable
555000000 USD
us-gaap Increase Decrease In Accounts And Notes Receivable
IncreaseDecreaseInAccountsAndNotesReceivable
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us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
475000000 USD
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
264000000 USD
us-gaap Increase Decrease In Other Operating Assets
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42000000 USD
us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
-21000000 USD
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
442000000 USD
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
403000000 USD
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
94000000 USD
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
132000000 USD
us-gaap Increase Decrease In Other Noncurrent Assets And Liabilities Net
IncreaseDecreaseInOtherNoncurrentAssetsAndLiabilitiesNet
-5000000 USD
us-gaap Increase Decrease In Other Noncurrent Assets And Liabilities Net
IncreaseDecreaseInOtherNoncurrentAssetsAndLiabilitiesNet
-103000000 USD
us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
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us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
81000000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
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us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
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us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
186000000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
182000000 USD
us-gaap Payments To Develop Software
PaymentsToDevelopSoftware
35000000 USD
us-gaap Payments To Develop Software
PaymentsToDevelopSoftware
40000000 USD
us-gaap Payments To Acquire Equity Method Investments
PaymentsToAcquireEquityMethodInvestments
15000000 USD
us-gaap Payments To Acquire Equity Method Investments
PaymentsToAcquireEquityMethodInvestments
64000000 USD
us-gaap Payments To Acquire Marketable Securities
PaymentsToAcquireMarketableSecurities
143000000 USD
us-gaap Payments To Acquire Marketable Securities
PaymentsToAcquireMarketableSecurities
69000000 USD
us-gaap Proceeds From Sale And Maturity Of Marketable Securities
ProceedsFromSaleAndMaturityOfMarketableSecurities
116000000 USD
us-gaap Proceeds From Sale And Maturity Of Marketable Securities
ProceedsFromSaleAndMaturityOfMarketableSecurities
162000000 USD
us-gaap Payments For Proceeds From Derivative Instrument Investing Activities
PaymentsForProceedsFromDerivativeInstrumentInvestingActivities
9000000 USD
us-gaap Payments For Proceeds From Derivative Instrument Investing Activities
PaymentsForProceedsFromDerivativeInstrumentInvestingActivities
-19000000 USD
us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
-36000000 USD
us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
-14000000 USD
us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
-236000000 USD
us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
-160000000 USD
us-gaap Proceeds From Repayments Of Commercial Paper
ProceedsFromRepaymentsOfCommercialPaper
504000000 USD
us-gaap Proceeds From Repayments Of Commercial Paper
ProceedsFromRepaymentsOfCommercialPaper
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us-gaap Repayments Of Long Term Debt And Capital Securities
RepaymentsOfLongTermDebtAndCapitalSecurities
33000000 USD
us-gaap Repayments Of Long Term Debt And Capital Securities
RepaymentsOfLongTermDebtAndCapitalSecurities
29000000 USD
us-gaap Payments To Minority Shareholders
PaymentsToMinorityShareholders
11000000 USD
us-gaap Payments To Minority Shareholders
PaymentsToMinorityShareholders
10000000 USD
us-gaap Payments Of Dividends
PaymentsOfDividends
355000000 USD
us-gaap Payments Of Dividends
PaymentsOfDividends
343000000 USD
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
379000000 USD
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
120000000 USD
us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
21000000 USD
us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
36000000 USD
us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
-253000000 USD
us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
-544000000 USD
us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents
EffectOfExchangeRateOnCashAndCashEquivalents
-35000000 USD
us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents
EffectOfExchangeRateOnCashAndCashEquivalents
51000000 USD
us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
-51000000 USD
us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
173000000 USD
CY2017Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
1369000000 USD
CY2016Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
1120000000 USD
CY2018Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
1318000000 USD
CY2017Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
1293000000 USD
CY2016Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
7174000000 USD
us-gaap Profit Loss
ProfitLoss
846000000 USD
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
220000000 USD
us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
3000000 USD
us-gaap Stock Issued During Period Value Treasury Stock Reissued
StockIssuedDuringPeriodValueTreasuryStockReissued
13000000 USD
us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
120000000 USD
us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
343000000 USD
us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
10000000 USD
us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
23000000 USD
us-gaap Stockholders Equity Other
StockholdersEquityOther
-16000000 USD
CY2017Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
7822000000 USD
CY2017Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
8164000000 USD
us-gaap New Accounting Pronouncement Or Change In Accounting Principle Effect Of Adoption Quantification
NewAccountingPronouncementOrChangeInAccountingPrincipleEffectOfAdoptionQuantification
30000000 USD
us-gaap Profit Loss
ProfitLoss
879000000 USD
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-187000000 USD
us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
8000000 USD
us-gaap Stock Issued During Period Value Treasury Stock Reissued
StockIssuedDuringPeriodValueTreasuryStockReissued
9000000 USD
us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
379000000 USD
us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
355000000 USD
us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
11000000 USD
us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
4000000 USD
us-gaap Stockholders Equity Other
StockholdersEquityOther
-32000000 USD
CY2018Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
8194000000 USD
us-gaap Nature Of Operations
NatureOfOperations
<span style="font-family:inherit;font-size:10pt;font-weight:bold;">NOTE 1. NATURE OF OPERATIONS</span><span style="font-family:inherit;font-size:10pt;">Cummins Inc. (“Cummins,” “we,” “our” or “us”) was founded in 1919 as Cummins Engine Company, a corporation in Columbus, Indiana, and one of the first diesel engine manufacturers. In 2001, we changed our name to Cummins Inc. </span><span style="font-family:inherit;font-size:10pt;">We are a global power leader that designs, manufactures, distributes and services diesel and natural gas engines and engine-related component products, including filtration, aftertreatment, turbochargers, fuel systems, controls systems, air handling systems, transmissions, electric power generation systems, batteries and electrified power systems. We sell our products to original equipment manufacturers (OEMs), distributors and other customers worldwide.</span><span style="font-family:inherit;font-size:10pt;"> </span><span style="font-family:inherit;font-size:10pt;">We serve our customers through a network of approximately</span><span style="font-family:inherit;font-size:10pt;"> </span><span style="font-family:inherit;font-size:10pt;"><span>500</span></span><span style="font-family:inherit;font-size:10pt;"> wholly-owned and independent distributor locations and over</span><span style="font-family:inherit;font-size:10pt;"> </span><span style="font-family:inherit;font-size:10pt;"><span>7,500</span></span><span style="font-family:inherit;font-size:10pt;"> </span><span style="font-family:inherit;font-size:10pt;">dealer locations in more than </span><span style="font-family:inherit;font-size:10pt;"><span>190</span></span><span style="font-family:inherit;font-size:10pt;"> countries and territories.</span>
cmi Company Owned And Independent Distributor Locations Number
CompanyOwnedAndIndependentDistributorLocationsNumber
500 location
cmi Dealer Locations Number
DealerLocationsNumber
7500 location
cmi Countries And Territories Number
CountriesAndTerritoriesNumber
190 country
CY2018Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
909394 shares
CY2017Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
6155 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
458130 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
61345 shares
us-gaap Revenue Recognition Sales Of Goods
RevenueRecognitionSalesOfGoods
<span style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Revenue Recognition Sales of Products</span><span style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;"> </span><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">We sell to customers either through long-term arrangements or standalone purchase orders. Our long-term arrangements generally do not include committed volumes until underlying purchase orders are issued. Our performance obligations vary by contract, but may include diesel and natural gas engines and engine-related component products, including filtration, </span></div><div style="line-height:120%;text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">aftertreatment, turbochargers, fuel systems, controls systems, air handling systems, transmissions, electric power generation systems, batteries, parts, maintenance services and extended coverage.</span><span style="font-family:inherit;font-size:10pt;"> </span></div><div style="line-height:120%;text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Typically, we recognize revenue on the products we sell at a point in time, generally in accordance with shipping terms, which reflects the transfer of control to the customer. Since control of construction projects transfer to the customer as the work is performed, revenue on these projects is recognized based on the percentage of inputs incurred to date compared to the total expected cost of inputs, which is reflective of the value transferred to the customer. Revenue is recognized under long-term maintenance and other service agreements over the term of the agreement as underlying services are performed based on the percentage of the cost of services provided to date compared to the total expected cost of services to be provided under the contract. Sales of extended coverage are recognized based on the pattern of expected costs over the extended coverage period or, if such a pattern is unknown, on a straight-line basis over the coverage period as the customer is considered to benefit from our stand ready obligation over the coverage period. In all cases, we believe cost incurred is the most representative depiction of the extent of service performed to date on a particular contract.</span><span style="font-family:inherit;font-size:10pt;"> </span></div><div style="line-height:120%;text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Our arrangements may include the act of shipping products to our customers after the performance obligation related to that product has been satisfied. We have elected to account for shipping and handling as activities to fulfill the promise to transfer goods and have not allocated revenue to the shipping activity. All related shipping and handling costs are accrued at the time of shipment.</span><span style="font-family:inherit;font-size:10pt;"> </span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Our sales arrangements may include the collection of sales and other similar taxes that are then remitted to the related taxing authority. We have elected to present the amounts collected for these taxes net of the related tax expense rather than presenting them as additional revenue.</span><span style="font-family:inherit;font-size:10pt;"> </span></div><div style="line-height:120%;text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">We grant credit limits and terms to customers based upon traditional practices and competitive conditions. Typical terms vary by market, but payments are generally due in 90 days or less from invoicing for most of our product and service sales, while payments on construction and other similar arrangements may be due on an installment basis.</span><span style="font-family:inherit;font-size:10pt;"> </span></div><div style="line-height:120%;text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><span style="font-family:inherit;font-size:10pt;">For contracts where the time between cash collection and performance is less than one year, we have elected to use the practical expedient that allows us to ignore the possible existence of a significant financing component within the contract. For contracts where this time period exceeds one year, generally the timing difference is the result of business concerns other than financing. We do have a limited amount of customer financing for which we charge or impute interest, but such amounts are immaterial to our </span>Condensed Consolidated Statements of Income.
us-gaap Revenue Recognition Incentives
RevenueRecognitionIncentives
<span style="font-style:italic;font-weight:bold;">Sales Incentives</span><span style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;"> </span><div style="line-height:120%;text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">We provide various sales incentives to both our distribution network and OEM customers. These programs are designed to promote the sale of our products in the channel or encourage the usage of our products by OEM customers. When there is uncertainty surrounding these sales incentives, we may limit the amount of revenue we recognize under a contract until the uncertainty has been resolved. Sales incentives primarily fall into three categories:</span><span style="font-family:inherit;font-size:10pt;"> </span></div><div style="line-height:120%;text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:48px;"/><td/></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:24px;"><span style="font-family:inherit;font-size:10pt;">•</span></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Volume rebates;</span></div></td></tr></table><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:48px;"/><td/></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:24px;"><span style="font-family:inherit;font-size:10pt;">•</span></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Market share rebates; and</span></div></td></tr></table><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:48px;"/><td/></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:24px;"><span style="font-family:inherit;font-size:10pt;">•</span></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Aftermarket rebates.</span></div></td></tr></table><div style="line-height:120%;text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><span style="font-family:inherit;font-size:10pt;">For volume rebates, we provide certain customers with rebate opportunities for attaining specified volumes during a particular quarter or year. We consider the expected amount of these rebates at the time of the original sale as we determine the overall transaction price. We update our assessment of the amount of rebates that will be earned quarterly based on our best estimate of the volume levels the customer will reach during the measurement period. For market share rebates, we provide certain customers with rebate opportunities based on the percentage of their production that utilizes our product. These rebates are typically measured either quarterly or annually and we assess them at least quarterly to determine our current estimates of amounts expected to be earned. These estimates are considered in the determination of transaction price at the time of the original sale based on the current market shares, with adjustments made as the level changes. For aftermarket rebates, we provide incentives to promote sales to certain dealers and end-markets. These rebates are typically paid on a quarterly, or more frequent basis. At the time of the sales, we consider the expected amount of these rebates when determining the overall transaction price. Estimates are adjusted at the end of each quarter based on the amounts yet to be paid. These estimates are based on historical experience with the particular program. </span>
us-gaap Revenue Recognition Sales Returns
RevenueRecognitionSalesReturns
<span style="font-style:italic;font-weight:bold;">Sales Returns</span><span style="font-family:inherit;font-size:10pt;font-weight:bold;"> </span><div style="line-height:120%;text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><span style="font-family:inherit;font-size:10pt;">The initial determination of the transaction price may also be impacted by expected product returns. Rights of return do not exist for the majority of our sales other than for quality issues. We do offer certain return rights in our aftermarket business, where some aftermarket customers are permitted to return small amounts of parts and filters each year, and in our power generation business, which sells portable generators to retail customers. An estimate of future returns is accounted for at the time of sale as a reduction in the overall contract transaction price based on historical return rates.</span>
us-gaap Revenue Recognition Multiple Element Arrangements
RevenueRecognitionMultipleElementArrangements
<span style="font-style:italic;font-weight:bold;">Multiple Performance Obligations</span><span style="font-family:inherit;font-size:10pt;font-weight:bold;"> </span><div style="line-height:120%;text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><span style="font-family:inherit;font-size:10pt;">Our sales arrangements may include multiple performance obligations. We identify each of the material performance obligations in these arrangements and allocate the total transaction price to each performance obligation based on its relative selling price. In most cases, the individual performance obligations are also sold separately and we use that price as the basis for allocating revenue to the included performance obligations. When an arrangement includes multiple performance obligations and invoicing to the customer does not match the allocated portion of the transaction price, unbilled revenue or deferred revenue is recorded reflecting that difference. Unbilled and deferred revenue are discussed in more detail below.</span>
us-gaap Revenue Recognition Long Term Contracts
RevenueRecognitionLongTermContracts
<span style="font-style:italic;font-weight:bold;">Long-term Contracts</span><span style="font-family:inherit;font-size:10pt;font-weight:bold;"> </span><div style="line-height:120%;text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Our long-term maintenance agreements often include a variable component of the transaction price. We are generally compensated under such arrangements on a cost per hour of usage basis. We typically can estimate the expected usage over the life of the contract, but reassess the transaction price each quarter and adjust our recognized revenue accordingly. Certain maintenance agreements apply to generators used to provide standby power, which have limited expectations of usage. These agreements may include monthly minimum payments, providing some certainty to the total transaction price. For these particular contracts that relate to standby power, we limit revenue recognized to date to an amount representing the total minimums earned to date under the contract plus any cumulative billings earned in excess of the minimums. We reassess the estimates of progress and transaction price on a quarterly basis. For prime power arrangements, revenue is not subject to such a constraint and is generally equal to the current estimate on a percentage of completion basis times the total expected revenue under the contract.</span></div><div style="line-height:120%;text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><span style="font-family:inherit;font-size:10pt;">Most of our contracts are for a period of less than one year. We have certain long-term maintenance agreements, construction contracts and extended warranty coverage arrangements that span a period in excess of one year. The aggregate amount of the transaction price for long-term maintenance agreements and construction contracts allocated to performance obligations that have not been satisfied as of</span><span style="font-family:inherit;font-size:10pt;"> </span><span style="font-family:inherit;font-size:10pt;">July 1, 2018,</span><span style="font-family:inherit;font-size:10pt;"> was </span><span style="font-family:inherit;font-size:10pt;"><span>$676 million</span></span><span style="font-family:inherit;font-size:10pt;">. We expect to recognize the related revenue of </span><span style="font-family:inherit;font-size:10pt;"><span>$247 million</span></span><span style="font-family:inherit;font-size:10pt;"> over the next </span><span style="font-family:inherit;font-size:10pt;"><span>12 months</span></span><span style="font-family:inherit;font-size:10pt;"> and </span><span style="font-family:inherit;font-size:10pt;"><span>$429 million</span></span><span style="font-family:inherit;font-size:10pt;"> over periods up to </span><span style="font-family:inherit;font-size:10pt;"><span>10 years</span></span><span style="font-family:inherit;font-size:10pt;">. See </span><span style="font-family:inherit;font-size:10pt;">NOTE 10</span><span style="font-family:inherit;font-size:10pt;"> ,"</span><span style="font-family:inherit;font-size:10pt;">PRODUCT WARRANTY LIABILITY</span><span style="font-family:inherit;font-size:10pt;">," for additional disclosures on extended warranty coverage arrangements. Our other contracts generally are for a duration of less than one year or include payment terms that correspond to the value we are providing our customers.</span>
CY2018Q3 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
676000000 USD
CY2018Q3 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
247000000 USD
us-gaap Revenue Remaining Performance Obligation Expected Timing Of Satisfaction Period
RevenueRemainingPerformanceObligationExpectedTimingOfSatisfactionPeriod
P12M
CY2018Q3 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
429000000 USD
us-gaap Revenue Remaining Performance Obligation Expected Timing Of Satisfaction Period
RevenueRemainingPerformanceObligationExpectedTimingOfSatisfactionPeriod
P10Y
us-gaap Revenue Recognition Deferred Revenue
RevenueRecognitionDeferredRevenue
<span style="font-style:italic;font-weight:bold;">Deferred and Unbilled Revenue</span><span style="font-family:inherit;font-size:10pt;font-weight:bold;"> </span><div style="line-height:120%;text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><span style="font-family:inherit;font-size:10pt;">The timing of our billing does not always match the timing of our revenue recognition. We record deferred revenue when we are entitled to bill a customer in advance of when we are permitted to recognize revenue. Deferred revenue may arise in construction contracts, where billings may occur in advance of performance or in accordance with specific milestones. Deferred revenue may also occur in long-term maintenance contracts, where billings are often based on usage of the underlying equipment, which generally follows a predictable pattern that often will result in the accumulation of collections in advance of our performance of the related maintenance services. Finally, deferred revenue exists in our extended coverage contracts, where the cash is collected prior to the commencement of the coverage period. Deferred revenue is included in our </span><span style="font-style:italic;">Condensed Consolidated Balance Sheets</span><span style="font-family:inherit;font-size:10pt;"> </span><span style="font-family:inherit;font-size:10pt;">as a component of current liabilities for those expected to be recognized in revenue in a period of less than one year and long-term liabilities for those expected to be recognized as revenue in a period beyond one year. Deferred revenue is recognized as revenue as (or when) control of the underlying product, project or service passes to the customer under the related contract.</span>
CY2018Q3 us-gaap Contract With Customer Asset Gross
ContractWithCustomerAssetGross
56000000 USD
CY2018Q1 us-gaap Contract With Customer Asset Gross
ContractWithCustomerAssetGross
6000000 USD
CY2018Q3 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
1101000000 USD
CY2018Q1 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
1052000000 USD
us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
-206000000 USD
CY2018Q1 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
0 USD
CY2018Q3 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
16000000 USD
CY2017Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
16000000 USD
CY2018Q3 us-gaap Sales Revenue Net
SalesRevenueNet
6132000000 USD
us-gaap Sales Revenue Net
SalesRevenueNet
11702000000 USD
CY2018Q3 us-gaap Equity Method Investment Summarized Financial Information Net Income Loss
EquityMethodInvestmentSummarizedFinancialInformationNetIncomeLoss
96000000 USD
CY2017Q3 us-gaap Equity Method Investment Summarized Financial Information Net Income Loss
EquityMethodInvestmentSummarizedFinancialInformationNetIncomeLoss
86000000 USD
us-gaap Equity Method Investment Summarized Financial Information Net Income Loss
EquityMethodInvestmentSummarizedFinancialInformationNetIncomeLoss
194000000 USD
us-gaap Equity Method Investment Summarized Financial Information Net Income Loss
EquityMethodInvestmentSummarizedFinancialInformationNetIncomeLoss
181000000 USD
CY2018Q3 us-gaap Royalty Revenue
RoyaltyRevenue
14000000 USD
CY2017Q3 us-gaap Royalty Revenue
RoyaltyRevenue
12000000 USD
us-gaap Royalty Revenue
RoyaltyRevenue
31000000 USD
us-gaap Royalty Revenue
RoyaltyRevenue
25000000 USD
CY2018Q3 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
110000000 USD
CY2017Q3 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
98000000 USD
us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
225000000 USD
us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
206000000 USD
CY2018Q3 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.225
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.290
us-gaap Income Tax Expense Benefit Continuing Operations Adjustment Of Deferred Tax Asset Liability
IncomeTaxExpenseBenefitContinuingOperationsAdjustmentOfDeferredTaxAssetLiability
74000000 USD
us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
0.45
cmi Tax Cutsand Jobs Actof2017 Incomplete Accounting Provisional Income Tax Expense Gross
TaxCutsandJobsActof2017IncompleteAccountingProvisionalIncomeTaxExpenseGross
80000000 USD
CY2018Q3 cmi Current Tax Cutsand Jobs Actof2017 Incomplete Accounting Provisional Income Tax Expense
CurrentTaxCutsandJobsActof2017IncompleteAccountingProvisionalIncomeTaxExpense
45000000 USD
CY2018Q3 us-gaap Deferred Other Tax Expense Benefit
DeferredOtherTaxExpenseBenefit
35000000 USD
CY2017Q3 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.264
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.262
cmi Tax Cutsand Jobs Actof2017 Incomplete Accounting Transition Taxfor Accumulated Foreign Earnings Provisional Income Tax Expense
TaxCutsandJobsActof2017IncompleteAccountingTransitionTaxforAccumulatedForeignEarningsProvisionalIncomeTaxExpense
40000000 USD
cmi Tax Cutsand Jobs Actof2017 Incomplete Accounting Withholding Taxeson Earningsfor Possible Future Distribution Provisional Income Tax Expense
TaxCutsandJobsActof2017IncompleteAccountingWithholdingTaxesonEarningsforPossibleFutureDistributionProvisionalIncomeTaxExpense
5000000 USD
cmi Current Tax Cutsand Jobs Actof2017 Incomplete Accounting Provisional Income Tax Expense
CurrentTaxCutsandJobsActof2017IncompleteAccountingProvisionalIncomeTaxExpense
45000000 USD
CY2018Q3 us-gaap Available For Sale Securities Amortized Cost
AvailableForSaleSecuritiesAmortizedCost
212000000 USD
CY2018Q3 us-gaap Available For Sale Securities Accumulated Gross Unrealized Gain Loss Before Tax
AvailableForSaleSecuritiesAccumulatedGrossUnrealizedGainLossBeforeTax
2000000 USD
CY2018Q3 us-gaap Available For Sale Securities
AvailableForSaleSecurities
214000000 USD
CY2017Q4 us-gaap Available For Sale Securities Amortized Cost
AvailableForSaleSecuritiesAmortizedCost
195000000 USD
CY2017Q4 us-gaap Available For Sale Securities Accumulated Gross Unrealized Gain Loss Before Tax
AvailableForSaleSecuritiesAccumulatedGrossUnrealizedGainLossBeforeTax
3000000 USD
CY2017Q4 us-gaap Available For Sale Securities
AvailableForSaleSecurities
198000000 USD
CY2018Q3 us-gaap Proceeds From Sale Of Available For Sale Securities
ProceedsFromSaleOfAvailableForSaleSecurities
12000000 USD
CY2017Q3 us-gaap Proceeds From Sale Of Available For Sale Securities
ProceedsFromSaleOfAvailableForSaleSecurities
12000000 USD
us-gaap Proceeds From Sale Of Available For Sale Securities
ProceedsFromSaleOfAvailableForSaleSecurities
81000000 USD
us-gaap Proceeds From Sale Of Available For Sale Securities
ProceedsFromSaleOfAvailableForSaleSecurities
44000000 USD
CY2018Q3 us-gaap Proceeds From Maturities Prepayments And Calls Of Held To Maturity Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfHeldToMaturitySecurities
22000000 USD
CY2017Q3 us-gaap Proceeds From Maturities Prepayments And Calls Of Held To Maturity Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfHeldToMaturitySecurities
3000000 USD
us-gaap Proceeds From Maturities Prepayments And Calls Of Held To Maturity Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfHeldToMaturitySecurities
35000000 USD
us-gaap Proceeds From Maturities Prepayments And Calls Of Held To Maturity Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfHeldToMaturitySecurities
118000000 USD
CY2018Q3 us-gaap Proceeds From Sale And Maturity Of Marketable Securities
ProceedsFromSaleAndMaturityOfMarketableSecurities
34000000 USD
CY2017Q3 us-gaap Proceeds From Sale And Maturity Of Marketable Securities
ProceedsFromSaleAndMaturityOfMarketableSecurities
15000000 USD
us-gaap Proceeds From Sale And Maturity Of Marketable Securities
ProceedsFromSaleAndMaturityOfMarketableSecurities
116000000 USD
us-gaap Proceeds From Sale And Maturity Of Marketable Securities
ProceedsFromSaleAndMaturityOfMarketableSecurities
162000000 USD
CY2018Q3 us-gaap Inventory Finished Goods
InventoryFinishedGoods
2329000000 USD
CY2017Q4 us-gaap Inventory Finished Goods
InventoryFinishedGoods
2078000000 USD
CY2018Q3 us-gaap Inventory Work In Process And Raw Materials
InventoryWorkInProcessAndRawMaterials
1355000000 USD
CY2017Q4 us-gaap Inventory Work In Process And Raw Materials
InventoryWorkInProcessAndRawMaterials
1216000000 USD
CY2018Q3 us-gaap Fifo Inventory Amount
FIFOInventoryAmount
3684000000 USD
CY2017Q4 us-gaap Fifo Inventory Amount
FIFOInventoryAmount
3294000000 USD
CY2018Q3 us-gaap Inventory Lifo Reserve
InventoryLIFOReserve
125000000 USD
CY2017Q4 us-gaap Inventory Lifo Reserve
InventoryLIFOReserve
128000000 USD
CY2018Q3 us-gaap Inventory Net
InventoryNet
3559000000 USD
CY2017Q4 us-gaap Inventory Net
InventoryNet
3166000000 USD
CY2018Q3 us-gaap Short Term Bank Loans And Notes Payable
ShortTermBankLoansAndNotesPayable
55000000 USD
CY2017Q4 us-gaap Short Term Bank Loans And Notes Payable
ShortTermBankLoansAndNotesPayable
57000000 USD
CY2018Q3 us-gaap Commercial Paper
CommercialPaper
802000000 USD
CY2017Q4 us-gaap Commercial Paper
CommercialPaper
298000000 USD
CY2018Q3 us-gaap Line Of Credit Facility Maximum Borrowing Capacity
LineOfCreditFacilityMaximumBorrowingCapacity
2750000000 USD
CY2018Q3 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
2462000000 USD
CY2018Q3 us-gaap Debt Instrument Unamortized Discount
DebtInstrumentUnamortizedDiscount
53000000 USD
CY2017Q4 us-gaap Debt Instrument Unamortized Discount
DebtInstrumentUnamortizedDiscount
54000000 USD
CY2018Q3 us-gaap Interest Rate Fair Value Hedge Liability At Fair Value
InterestRateFairValueHedgeLiabilityAtFairValue
18000000 USD
CY2017Q4 us-gaap Interest Rate Fair Value Hedge Liability At Fair Value
InterestRateFairValueHedgeLiabilityAtFairValue
35000000 USD
CY2018Q3 us-gaap Capital Lease Obligations Noncurrent
CapitalLeaseObligationsNoncurrent
112000000 USD
CY2017Q4 us-gaap Capital Lease Obligations Noncurrent
CapitalLeaseObligationsNoncurrent
121000000 USD
CY2018Q3 us-gaap Debt And Capital Lease Obligations
DebtAndCapitalLeaseObligations
1605000000 USD
CY2017Q4 us-gaap Debt And Capital Lease Obligations
DebtAndCapitalLeaseObligations
1651000000 USD
CY2018Q3 us-gaap Long Term Debt Current
LongTermDebtCurrent
49000000 USD
CY2017Q4 us-gaap Long Term Debt Current
LongTermDebtCurrent
63000000 USD
CY2018Q3 us-gaap Long Term Debt And Capital Lease Obligations
LongTermDebtAndCapitalLeaseObligations
1556000000 USD
CY2017Q4 us-gaap Long Term Debt And Capital Lease Obligations
LongTermDebtAndCapitalLeaseObligations
1588000000 USD
CY2018Q3 us-gaap Long Term Debt Maturities Repayments Of Principal Remainder Of Fiscal Year
LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear
30000000 USD
CY2018Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
50000000 USD
CY2018Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
12000000 USD
CY2018Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
8000000 USD
CY2018Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
8000000 USD
CY2018Q3 us-gaap Long Term Debt Fair Value
LongTermDebtFairValue
2668000000 USD
CY2017Q4 us-gaap Long Term Debt Fair Value
LongTermDebtFairValue
2301000000 USD
CY2017Q4 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
2006000000 USD
CY2017Q4 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
1687000000 USD
CY2016Q4 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
1414000000 USD
us-gaap Standard Product Warranty Accrual Warranties Issued
StandardProductWarrantyAccrualWarrantiesIssued
222000000 USD
us-gaap Standard Product Warranty Accrual Warranties Issued
StandardProductWarrantyAccrualWarrantiesIssued
182000000 USD
us-gaap Deferred Revenue Additions
DeferredRevenueAdditions
139000000 USD
us-gaap Deferred Revenue Additions
DeferredRevenueAdditions
101000000 USD
us-gaap Product Liability Accrual Period Expense
ProductLiabilityAccrualPeriodExpense
403000000 USD
us-gaap Product Liability Accrual Period Expense
ProductLiabilityAccrualPeriodExpense
57000000 USD
us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
212000000 USD
us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
199000000 USD
us-gaap Recognition Of Deferred Revenue
RecognitionOfDeferredRevenue
-118000000 USD
us-gaap Recognition Of Deferred Revenue
RecognitionOfDeferredRevenue
-109000000 USD
us-gaap Extended Product Warranty Accrual Preexisting Increase Decrease
ExtendedProductWarrantyAccrualPreexistingIncreaseDecrease
10000000 USD
us-gaap Extended Product Warranty Accrual Preexisting Increase Decrease
ExtendedProductWarrantyAccrualPreexistingIncreaseDecrease
74000000 USD
us-gaap Standard And Extended Product Warranty Accrual Foreign Currency Translation Gain Loss
StandardAndExtendedProductWarrantyAccrualForeignCurrencyTranslationGainLoss
-6000000 USD
us-gaap Standard And Extended Product Warranty Accrual Foreign Currency Translation Gain Loss
StandardAndExtendedProductWarrantyAccrualForeignCurrencyTranslationGainLoss
1000000 USD
us-gaap Other Expenses
OtherExpenses
5000000 USD
us-gaap Other Expenses
OtherExpenses
0 USD
CY2018Q3 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
2130000000 USD
CY2017Q3 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
1521000000 USD
CY2018Q3 us-gaap Deferred Revenue
DeferredRevenue
786000000 USD
CY2017Q4 us-gaap Deferred Revenue
DeferredRevenue
767000000 USD
CY2018Q3 us-gaap Accrual For Taxes Other Than Income Taxes Current And Noncurrent
AccrualForTaxesOtherThanIncomeTaxesCurrentAndNoncurrent
178000000 USD
CY2017Q4 us-gaap Accrual For Taxes Other Than Income Taxes Current And Noncurrent
AccrualForTaxesOtherThanIncomeTaxesCurrentAndNoncurrent
197000000 USD
CY2018Q3 us-gaap Accrued Marketing Costs Current
AccruedMarketingCostsCurrent
169000000 USD
CY2017Q4 us-gaap Accrued Marketing Costs Current
AccruedMarketingCostsCurrent
146000000 USD
CY2018Q3 us-gaap Accrued Income Taxes
AccruedIncomeTaxes
102000000 USD
CY2017Q4 us-gaap Accrued Income Taxes
AccruedIncomeTaxes
77000000 USD
CY2018Q3 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
357000000 USD
CY2017Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
495000000 USD
CY2018Q3 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
806000000 USD
CY2017Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
915000000 USD
CY2018Q3 us-gaap Deferred Revenue Noncurrent
DeferredRevenueNoncurrent
880000000 USD
CY2017Q4 us-gaap Deferred Revenue Noncurrent
DeferredRevenueNoncurrent
466000000 USD
CY2018Q3 us-gaap Product Warranty Accrual Noncurrent
ProductWarrantyAccrualNoncurrent
622000000 USD
CY2017Q4 us-gaap Product Warranty Accrual Noncurrent
ProductWarrantyAccrualNoncurrent
604000000 USD
CY2018Q3 us-gaap Deferred Income Taxes And Other Tax Liabilities Noncurrent
DeferredIncomeTaxesAndOtherTaxLiabilitiesNoncurrent
400000000 USD
CY2017Q4 us-gaap Deferred Income Taxes And Other Tax Liabilities Noncurrent
DeferredIncomeTaxesAndOtherTaxLiabilitiesNoncurrent
391000000 USD
CY2018Q3 us-gaap Taxes Payable Current And Noncurrent
TaxesPayableCurrentAndNoncurrent
252000000 USD
CY2017Q4 us-gaap Taxes Payable Current And Noncurrent
TaxesPayableCurrentAndNoncurrent
281000000 USD
CY2018Q3 us-gaap Deferred Compensation Liability Classified Noncurrent
DeferredCompensationLiabilityClassifiedNoncurrent
152000000 USD
CY2017Q4 us-gaap Deferred Compensation Liability Classified Noncurrent
DeferredCompensationLiabilityClassifiedNoncurrent
151000000 USD
CY2018Q3 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
135000000 USD
CY2017Q4 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
134000000 USD
CY2018Q3 us-gaap Other Liabilities And Deferred Revenue Noncurrent
OtherLiabilitiesAndDeferredRevenueNoncurrent
2441000000 USD
CY2018Q3 us-gaap Unrecorded Unconditional Purchase Obligation Balance Sheet Amount
UnrecordedUnconditionalPurchaseObligationBalanceSheetAmount
82000000 USD
CY2017Q4 us-gaap Other Liabilities And Deferred Revenue Noncurrent
OtherLiabilitiesAndDeferredRevenueNoncurrent
2027000000 USD
CY2017 us-gaap Product Liability Accrual Period Expense
ProductLiabilityAccrualPeriodExpense
36000000 USD
CY2018Q2 us-gaap Product Liability Accrual Period Expense
ProductLiabilityAccrualPeriodExpense
187000000 USD
CY2018Q2 us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
0.87
CY2018Q3 us-gaap Product Liability Accrual Period Expense
ProductLiabilityAccrualPeriodExpense
181000000 USD
CY2018Q3 us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
0.85
CY2018Q3 us-gaap Product Liability Contingency Accrual Present Value
ProductLiabilityContingencyAccrualPresentValue
404000000 USD
CY2018Q3 us-gaap Guarantee Obligations Maximum Exposure
GuaranteeObligationsMaximumExposure
56000000 USD
CY2018Q3 us-gaap Purchase Obligation
PurchaseObligation
62000000 USD
CY2018Q3 us-gaap Guarantee Obligations Current Carrying Value
GuaranteeObligationsCurrentCarryingValue
110000000 USD
CY2017Q3 us-gaap Other Comprehensive Income Loss Before Reclassifications Before Tax
OtherComprehensiveIncomeLossBeforeReclassificationsBeforeTax
105000000 USD
CY2017Q3 us-gaap Other Comprehensive Income Loss Tax Portion Attributable To Parent1
OtherComprehensiveIncomeLossTaxPortionAttributableToParent1
4000000 USD
CY2017Q3 us-gaap Other Comprehensive Income Loss Before Reclassifications Net Of Tax
OtherComprehensiveIncomeLossBeforeReclassificationsNetOfTax
101000000 USD
CY2017Q3 us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax
-17000000 USD
CY2017Q3 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
118000000 USD
CY2018Q3 us-gaap Other Comprehensive Income Loss Before Reclassifications Before Tax
OtherComprehensiveIncomeLossBeforeReclassificationsBeforeTax
-341000000 USD
CY2018Q3 us-gaap Other Comprehensive Income Loss Tax Portion Attributable To Parent1
OtherComprehensiveIncomeLossTaxPortionAttributableToParent1
-43000000 USD
CY2018Q3 us-gaap Other Comprehensive Income Loss Before Reclassifications Net Of Tax
OtherComprehensiveIncomeLossBeforeReclassificationsNetOfTax
-298000000 USD
CY2018Q3 us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax
-12000000 USD
CY2018Q3 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-286000000 USD
us-gaap Other Comprehensive Income Loss Before Reclassifications Before Tax
OtherComprehensiveIncomeLossBeforeReclassificationsBeforeTax
196000000 USD
us-gaap Other Comprehensive Income Loss Tax Portion Attributable To Parent1
OtherComprehensiveIncomeLossTaxPortionAttributableToParent1
13000000 USD
us-gaap Other Comprehensive Income Loss Before Reclassifications Net Of Tax
OtherComprehensiveIncomeLossBeforeReclassificationsNetOfTax
183000000 USD
us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax
-37000000 USD
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
220000000 USD
us-gaap Other Comprehensive Income Loss Before Reclassifications Before Tax
OtherComprehensiveIncomeLossBeforeReclassificationsBeforeTax
-220000000 USD
us-gaap Other Comprehensive Income Loss Tax Portion Attributable To Parent1
OtherComprehensiveIncomeLossTaxPortionAttributableToParent1
-8000000 USD
us-gaap Other Comprehensive Income Loss Before Reclassifications Net Of Tax
OtherComprehensiveIncomeLossBeforeReclassificationsNetOfTax
-212000000 USD
us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax
-25000000 USD
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-187000000 USD
CY2018Q3 us-gaap Sales Revenue Net
SalesRevenueNet
6132000000 USD
CY2018Q3 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
219000000 USD
CY2018Q3 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
110000000 USD
CY2018Q3 us-gaap Investment Income Interest
InvestmentIncomeInterest
10000000 USD
CY2018Q3 cmi Segment Reporting Information Income Lossbefore Interest Expense Income Taxes Depreciation Amortizationand Noncontrollinginterests
SegmentReportingInformationIncomeLossbeforeInterestExpenseIncomeTaxesDepreciationAmortizationandNoncontrollinginterests
897000000 USD
CY2018Q3 us-gaap Other Depreciation And Amortization
OtherDepreciationAndAmortization
154000000 USD
CY2017Q3 us-gaap Sales Revenue Net
SalesRevenueNet
5078000000 USD
CY2017Q3 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
175000000 USD
CY2017Q3 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
98000000 USD
CY2017Q3 us-gaap Investment Income Interest
InvestmentIncomeInterest
5000000 USD
CY2017Q3 cmi Segment Reporting Information Income Lossbefore Interest Expense Income Taxes Depreciation Amortizationand Noncontrollinginterests
SegmentReportingInformationIncomeLossbeforeInterestExpenseIncomeTaxesDepreciationAmortizationandNoncontrollinginterests
764000000 USD
CY2017Q3 us-gaap Other Depreciation And Amortization
OtherDepreciationAndAmortization
144000000 USD
us-gaap Sales Revenue Net
SalesRevenueNet
11702000000 USD
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
429000000 USD
us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
225000000 USD
us-gaap Investment Income Interest
InvestmentIncomeInterest
17000000 USD
cmi Segment Reporting Information Income Lossbefore Interest Expense Income Taxes Depreciation Amortizationand Noncontrollinginterests
SegmentReportingInformationIncomeLossbeforeInterestExpenseIncomeTaxesDepreciationAmortizationandNoncontrollinginterests
1597000000 USD
us-gaap Other Depreciation And Amortization
OtherDepreciationAndAmortization
307000000 USD
us-gaap Other Depreciation And Amortization
OtherDepreciationAndAmortization
307000000 USD
us-gaap Sales Revenue Net
SalesRevenueNet
9667000000 USD
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
333000000 USD
us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
206000000 USD
us-gaap Investment Income Interest
InvestmentIncomeInterest
7000000 USD
cmi Segment Reporting Information Income Lossbefore Interest Expense Income Taxes Depreciation Amortizationand Noncontrollinginterests
SegmentReportingInformationIncomeLossbeforeInterestExpenseIncomeTaxesDepreciationAmortizationandNoncontrollinginterests
1469000000 USD
us-gaap Other Depreciation And Amortization
OtherDepreciationAndAmortization
283000000 USD
us-gaap Other Depreciation And Amortization
OtherDepreciationAndAmortization
283000000 USD
us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
1000000 USD
us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
1000000 USD
CY2018Q3 cmi Segment Reporting Information Income Lossbefore Interest Expense Income Taxes Depreciation Amortizationand Noncontrollinginterests
SegmentReportingInformationIncomeLossbeforeInterestExpenseIncomeTaxesDepreciationAmortizationandNoncontrollinginterests
897000000 USD
CY2017Q3 cmi Segment Reporting Information Income Lossbefore Interest Expense Income Taxes Depreciation Amortizationand Noncontrollinginterests
SegmentReportingInformationIncomeLossbeforeInterestExpenseIncomeTaxesDepreciationAmortizationandNoncontrollinginterests
764000000 USD
cmi Segment Reporting Information Income Lossbefore Interest Expense Income Taxes Depreciation Amortizationand Noncontrollinginterests
SegmentReportingInformationIncomeLossbeforeInterestExpenseIncomeTaxesDepreciationAmortizationandNoncontrollinginterests
1597000000 USD
cmi Segment Reporting Information Income Lossbefore Interest Expense Income Taxes Depreciation Amortizationand Noncontrollinginterests
SegmentReportingInformationIncomeLossbeforeInterestExpenseIncomeTaxesDepreciationAmortizationandNoncontrollinginterests
1469000000 USD
CY2018Q3 us-gaap Other Depreciation And Amortization
OtherDepreciationAndAmortization
154000000 USD
CY2017Q3 us-gaap Other Depreciation And Amortization
OtherDepreciationAndAmortization
144000000 USD
us-gaap Other Depreciation And Amortization
OtherDepreciationAndAmortization
307000000 USD
us-gaap Other Depreciation And Amortization
OtherDepreciationAndAmortization
283000000 USD
CY2018Q3 us-gaap Interest Expense
InterestExpense
28000000 USD
CY2017Q3 us-gaap Interest Expense
InterestExpense
21000000 USD
us-gaap Interest Expense
InterestExpense
52000000 USD
us-gaap Interest Expense
InterestExpense
39000000 USD
CY2018Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
715000000 USD
CY2017Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
599000000 USD
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
1238000000 USD
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
1147000000 USD

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