Below are the financial statements of Cummins, including the income statement and balance sheet for the company's latest fiscal year. All figures are accurate, verifiable, and fully traceable to the original annual filing where disclosed.
| All figures in billions of USD | 2024 | 2023 | 2022 |
|---|---|---|---|
| Net sales | 34.1a | 34.07a | 28.07a |
| Cost of sales | -25.66a | -25.82a | -21.36a |
| Gross margin | 8.44a | 8.25a | 6.72a |
| Operating expenses and income | — | — | — |
| Selling, general and administrative expenses | -3.28a | -3.33a | -2.69a |
| Research, development and engineering expenses | -1.46a | -1.5a | -1.28a |
| Equity, royalty and interest income from investees | 0.4a | 0.48a | 0.35a |
| Other operating expense, net | -0.35a | -2.14a | -0.17a |
| Operating income | 3.75a | 1.76a | 2.93a |
| Interest expense | -0.37a | -0.38a | -0.2a |
| Other income, net | 1.52a | 0.24a | 0.09a |
| Income before income taxes | 4.9a | 1.63a | 2.82a |
| Income tax expense | -0.84a | -0.79a | -0.64a |
| Consolidated net income | 4.07a | 0.84a | 2.18a |
| Less: Net income attributable to noncontrolling interests | 0.12a | 0.11a | 0.03a |
| Net income attributable to Cummins Inc. | 3.95a | 0.74a | 2.15a |
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