Cash Flow Statement

Operating Cash Flow

+85%

+33%

10Y

Currency: USD

	Mar-2002	Jun-2002	Sep-2002	Dec-2002	Mar-2003	Jun-2003	Sep-2003	Dec-2003	Mar-2004	Jun-2004	Sep-2004	Dec-2004	Mar-2005	Jun-2005	Sep-2005	Dec-2005	Apr-2006	Jul-2006	Oct-2006	Dec-2006	Apr-2007	Jul-2007	Sep-2007	Dec-2007	Mar-2008	Jun-2008	Sep-2008	Dec-2008	Mar-2009	Jun-2009	Sep-2009	Dec-2009	Mar-2010	Jun-2010	Sep-2010	Dec-2010	Mar-2011	Jun-2011	Sep-2011	Dec-2011	Apr-2012	Jul-2012	Sep-2012	Dec-2012	Mar-2013	Jun-2013	Sep-2013	Dec-2013	Mar-2014	Jun-2014	Sep-2014	Dec-2014	Mar-2015	Jun-2015	Sep-2015	Dec-2015	Apr-2016	Jul-2016	Oct-2016	Dec-2016	Apr-2017	Jul-2017	Oct-2017	Dec-2017	Apr-2018	Jul-2018	Sep-2018	Dec-2018	Mar-2019	Jun-2019	Sep-2019	Dec-2019	Mar-2020	Jun-2020	Sep-2020	Dec-2020	Apr-2021	Jul-2021	Oct-2021	Dec-2021	Mar-2022	Jun-2022	Sep-2022	Dec-2022	Mar-2023	Jun-2023	Sep-2023	Dec-2023	Mar-2024	Jun-2024	Sep-2024	Dec-2024	Mar-2025	Jun-2025	Sep-2025	Dec-2025
Operating Cash Flow
Net Income	(103)	(3)	38	82	77	73	53	50	114	182	274	350	414	473	502	550	588	667	693	715	723	717	730	788	847	943	1 006	818	630	390	253	484	640	840	1 039	1 140	1 335	1 602	1 765	1 946	2 056	2 014	1 912	1 738	1 575	1 521	1 525	1 588	1 634	1 665	1 730	1 736	1 782	1 806	1 759	1 470	1 399	1 330	1 238	1 456	1 528	1 542	1 699	994	914	1 027	1 268	2 187	2 531	2 662	2 580	2 268	2 127	1 711	1 599	1 811	1 894	2 237	2 274	2 164	1 976	2 071	1 939	2 183	2 566	2 596	2 877	840	2 062	2 077	2 230	4 068	2 890	3 066	2 782	2 957
Depreciation & Amortization	224	218	217	219	220	221	221	223	228	242	257	272	284	288	289	295	297	299	301	296	290	290	289	290	297	306	308	314	315	310	319	326	329	333	327	320	320	318	324	325	331	337	344	361	374	390	404	407	414	424	432	455	478	492	508	514	514	519	522	530	541	555	572	583	598	607	606	611	614	618	648	672	683	690	678	673	675	677	671	662	653	653	709	784	869	959	1 000	1 024	1 043	1 049	1 058	1 065	1 069	1 085	1 096	1 105
Change in Deffered Taxes	0	0	0	(74)	0	0	0	(48)	(48)	0	(71)	(51)	(35)	3	43	124	159	144	194	139	119	112	67	60	22	27	29	(1)	(15)	5	(50)	5	39	28	99	56	64	100	121	85	37	(41)	28	116	148	175	103	100	117	(8)	(15)	31	8	56	(52)	(108)	(109)	(43)	72	50	62	48	16	(54)	(91)	(75)	(247)	(97)	(59)	(59)	56	(4)	(26)	(32)	3	7	26	35	58	7	(67)	(122)	(231)	(274)	(246)	(294)	(318)	(457)	(457)	(424)	(325)	(209)	(196)	(248)	(35)	86
Stock-Based Compensation	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	16	0	0	0	18	6	12	20	28	30	33	25	28	26	23	27	20	20	19	21	22	21	29	33	42	44	45	43	36	36	34	36	37	40	39	35	36	31	32	33	24	24	27	28	32	34	35	38	41	43	46	45	53	53	53	52	49	44	33	34	31	35	37	34	37	34	33	36	0	0	0	0	0	0	0	0	0	0	0	0	0
Other Non-Cash Items	108	(23)	23	(111)	(65)	(67)	(133)	(83)	(89)	(50)	(25)	(8)	4	(6)	4	28	21	(25)	(42)	(152)	(183)	(172)	(198)	(262)	(265)	(267)	(242)	(27)	148	144	135	41	(256)	(243)	(236)	(338)	(260)	(283)	(254)	(265)	(265)	(223)	(254)	(81)	(107)	(179)	(169)	(165)	(219)	(256)	(270)	(326)	(307)	(225)	(188)	187	192	134	235	(160)	(118)	(76)	(170)	596	589	530	552	(77)	(14)	40	(94)	(91)	(218)	(273)	(184)	(252)	(209)	(93)	(72)	(29)	216	209	155	189	(118)	(239)	(94)	(207)	(1 469)	(1 374)	(1 447)	(1 372)	14	12	63	(31)
Cash Taxes Paid	0	31	26	30	42	39	40	50	51	59	85	87	94	93	90	95	106	120	129	165	168	231	264	294	0	0	0	349	0	0	0	128	0	0	0	312	0	0	0	532	0	0	0	32	0	0	0	30	0	0	0	65	0	0	0	0	0	0	0	430	0	0	0	622	0	0	0	699	0	0	0	691	0	0	0	432	0	0	0	521	0	0	0	903	0	0	0	1 181	0	0	0	1 175	0	0	0	1 074
Cash Interest Paid	0	70	52	52	80	62	73	90	95	101	107	113	118	120	115	114	107	108	103	100	96	75	71	57	0	0	0	45	0	0	0	31	0	0	0	42	0	0	0	47	0	0	0	691	0	0	0	380	0	0	0	659	0	0	0	0	0	0	0	68	0	0	0	82	0	0	0	114	0	0	0	109	0	0	0	88	0	0	0	111	0	0	0	184	0	0	0	374	0	0	0	334	0	0	0	308
Change in Working Capital	(164)	(62)	(127)	77	1	(32)	83	16	87	121	78	51	(171)	(241)	(207)	(237)	(225)	(125)	(158)	(158)	(240)	(306)	(138)	(66)	59	51	(89)	(117)	(52)	53	335	281	435	285	(203)	(172)	(491)	(414)	(201)	(18)	(153)	(361)	(538)	(602)	(51)	188	215	159	(22)	5	267	370	215	5	(18)	2	163	294	181	63	38	(42)	(21)	158	(229)	(165)	15	(246)	(165)	(136)	143	336	582	222	322	483	296	464	(265)	(548)	(697)	(747)	(695)	(920)	(778)	(845)	(141)	2 766	2 568	1 085	8	(2 065)	(2 569)	(1 071)	(397)	(496)
Cash from Operating Activities	65 N/A	130 +100%	151 +16%	193 +28%	159 -18%	121 -24%	150 +24%	158 +5%	292 +85%	447 +53%	513 +15%	614 +20%	496 -19%	517 +4%	631 +22%	760 +20%	840 +11%	960 +14%	988 +3%	840 -15%	709 -16%	641 -10%	750 +17%	810 +8%	960 +19%	1 060 +10%	1 012 -5%	987 -2%	1 026 +4%	902 -12%	992 +10%	1 137 +15%	1 187 +4%	1 243 +5%	1 026 -17%	1 006 -2%	968 -4%	1 323 +37%	1 755 +33%	2 073 +18%	2 006 -3%	1 726 -14%	1 492 -14%	1 532 +3%	1 939 +27%	2 095 +8%	2 078 -1%	2 089 +1%	1 924 -8%	1 830 -5%	2 144 +17%	2 266 +6%	2 176 -4%	2 134 -2%	2 009 -6%	2 065 +3%	2 159 +5%	2 234 +3%	2 248 +1%	1 939 -14%	2 051 +6%	2 027 -1%	2 096 +3%	2 277 +9%	1 781 -22%	1 924 +8%	2 194 +14%	2 378 +8%	2 907 +22%	3 125 +7%	3 333 +7%	3 181 -5%	3 148 -1%	2 318 -26%	2 418 +4%	2 722 +13%	2 682 -1%	3 320 +24%	2 666 -20%	2 256 -15%	2 081 -8%	2 064 -1%	1 877 -9%	1 962 +5%	2 293 +17%	2 177 -5%	3 324 +53%	3 966 +19%	3 747 -6%	2 413 -36%	1 524 -37%	1 487 -2%	1 208 -19%	2 844 +135%	3 509 +23%	3 621 +3%
Investing Cash Flow
Capital Expenditures	(162)	(118)	(102)	(90)	(94)	(99)	(127)	(111)	(135)	(134)	(150)	(151)	(204)	(225)	(229)	(186)	(252)	(249)	(264)	(249)	(246)	(255)	(292)	(353)	(463)	(549)	(575)	(625)	(596)	(546)	(470)	(345)	(334)	(300)	(315)	(407)	(444)	(531)	(617)	(682)	(723)	(751)	(760)	(777)	(761)	(770)	(751)	(740)	(735)	(712)	(729)	(798)	(785)	(796)	(780)	(799)	(775)	(746)	(722)	(594)	(618)	(600)	(581)	(587)	(566)	(586)	(662)	(784)	(826)	(839)	(813)	(775)	(729)	(672)	(631)	(575)	(590)	(636)	(672)	(786)	(803)	(827)	(885)	(916)	(994)	(1 055)	(1 113)	(1 213)	(1 189)	(1 208)	(1 187)	(1 208)	(1 201)	(1 192)	(1 231)	(1 235)
Other Items	79	(62)	(82)	(62)	(58)	(21)	(42)	(20)	1	(49)	(8)	(30)	34	46	36	(26)	20	3	(8)	(28)	(66)	(88)	(123)	(162)	(131)	(146)	(169)	(223)	(190)	(55)	(190)	(164)	(229)	(343)	(236)	(244)	(141)	(28)	16	130	147	0	(155)	(205)	(262)	(273)	(57)	(106)	(155)	(186)	(212)	(436)	(387)	(275)	(291)	(119)	(406)	(263)	(309)	(323)	62	(86)	(532)	(465)	(495)	(542)	(123)	(190)	(183)	(310)	(471)	(375)	(449)	(301)	(27)	(144)	(55)	5	12	(87)	(55)	(476)	(3 206)	(3 256)	(3 396)	(3 147)	(423)	(430)	(632)	(635)	(665)	(574)	(421)	(399)	(328)	(496)
Cash from Investing Activities	(83) N/A	(180) -117%	(184) -2%	(152) +17%	(152) N/A	(120) +21%	(169) -41%	(131) +22%	(134) -2%	(183) -37%	(158) +14%	(181) -15%	(170) +6%	(179) -5%	(193) -8%	(212) -10%	(232) -9%	(246) -6%	(272) -11%	(277) -2%	(312) -13%	(343) -10%	(415) -21%	(515) -24%	(594) -15%	(695) -17%	(744) -7%	(848) -14%	(786) +7%	(601) +24%	(660) -10%	(509) +23%	(563) -11%	(643) -14%	(551) +14%	(651) -18%	(585) +10%	(559) +4%	(601) -8%	(552) +8%	(576) -4%	(751) -30%	(915) -22%	(982) -7%	(1 023) -4%	(1 043) -2%	(808) +23%	(846) -5%	(890) -5%	(898) -1%	(941) -5%	(1 234) -31%	(1 172) +5%	(1 071) +9%	(1 071) N/A	(918) +14%	(1 181) -29%	(1 009) +15%	(1 031) -2%	(917) +11%	(556) +39%	(686) -23%	(1 113) -62%	(1 052) +5%	(1 061) -1%	(1 128) -6%	(785) +30%	(974) -24%	(1 009) -4%	(1 149) -14%	(1 284) -12%	(1 150) +10%	(1 178) -2%	(973) +17%	(658) +32%	(719) -9%	(645) +10%	(631) +2%	(660) -5%	(873) -32%	(858) +2%	(1 303) -52%	(4 091) -214%	(4 172) -2%	(4 390) -5%	(4 202) +4%	(1 536) +63%	(1 643) -7%	(1 821) -11%	(1 843) -1%	(1 852) 0%	(1 782) +4%	(1 622) +9%	(1 591) +2%	(1 559) +2%	(1 731) -11%
Financing Cash Flow
Net Issuance of Common Stock	0	(1)	12	15	15	0	40	52	74	124	140	148	133	88	50	(8)	(47)	(76)	(103)	(112)	(91)	(89)	(251)	(322)	(322)	(334)	(186)	(65)	(54)	(20)	60	52	13	(110)	(191)	(183)	(334)	(394)	(540)	(629)	(447)	(452)	(314)	(256)	(248)	(349)	(314)	(381)	(800)	(522)	(697)	(670)	(388)	(754)	(715)	(900)	(1 338)	(1 081)	(995)	(778)	(254)	(203)	(424)	(451)	(563)	(710)	(939)	(1 140)	(1 077)	(861)	(1 067)	(1 271)	(1 721)	(1 721)	(1 015)	(553)	(403)	(1 067)	(1 204)	(1 346)	(1 248)	(610)	(479)	(374)	(72)	(46)	(40)	0	0	0	0	0	0	0	0	0
Net Issuance of Debt	(269)	40	13	167	46	54	59	(128)	(99)	(62)	(88)	(18)	(265)	(273)	(276)	(292)	(65)	(85)	(67)	(309)	(376)	(377)	(389)	(141)	(33)	(45)	(23)	(43)	(60)	(59)	(81)	(23)	40	63	125	80	19	10	(98)	(104)	(124)	(107)	(72)	(70)	(56)	(37)	940	911	866	834	(122)	(39)	2	2	(43)	(73)	83	132	258	179	90	(102)	213	44	272	620	214	457	97	(320)	128	(163)	890	1 489	1 329	1 614	518	10	(244)	(32)	95	579	3 313	2 814	2 683	2 312	(471)	(1 054)	(163)	439	501	915	541	601	37	454
Cash Paid for Dividends	(50)	(50)	(50)	(50)	(50)	(50)	(50)	(50)	(51)	(51)	(53)	(53)	(54)	(55)	(55)	(56)	(56)	(56)	(61)	(66)	(71)	(76)	(82)	(89)	(95)	(102)	(112)	(122)	(132)	(142)	(142)	(141)	(141)	(140)	(155)	(172)	(188)	(204)	(230)	(255)	(281)	(305)	(323)	(340)	(358)	(377)	(399)	(420)	(440)	(460)	(485)	(512)	(537)	(563)	(594)	(622)	(652)	(675)	(675)	(676)	(677)	(686)	(693)	(701)	(708)	(713)	(716)	(718)	(719)	(721)	(743)	(761)	(777)	(791)	(781)	(782)	(784)	(788)	(801)	(809)	(819)	(826)	(841)	(855)	(870)	(889)	(905)	(921)	(938)	(945)	(957)	(969)	(981)	(1 002)	(1 028)	(1 055)
Other	21	25	13	(1)	(2)	(13)	(4)	(23)	(21)	(14)	(15)	(11)	(13)	(15)	(17)	(16)	(20)	(21)	(19)	(21)	(21)	(19)	(30)	(24)	(13)	(7)	1	(7)	(22)	(24)	(23)	(29)	(7)	(8)	(10)	8	(19)	(19)	(29)	(37)	(24)	(34)	(26)	(28)	(22)	(18)	(27)	(58)	(73)	(83)	(87)	(122)	(114)	(101)	(107)	(55)	(83)	(93)	(68)	(138)	(100)	(70)	(64)	34	37	20	7	1	4	44	44	100	94	99	134	1	(30)	(57)	(114)	(40)	(7)	(39)	(30)	84	62	80	(95)	(202)	(214)	(261)	(88)	(119)	(140)	(155)	(149)	(171)
Cash from Financing Activities	(7) N/A	14 N/A	(12) N/A	131 N/A	9 -93%	6 -33%	45 +650%	(149) N/A	(97) +35%	(3) +97%	(16) -433%	66 N/A	(199) N/A	(255) -28%	(298) -17%	(372) -25%	(188) +49%	(238) -27%	(250) -5%	(508) -103%	(559) -10%	(561) 0%	(752) -34%	(576) +23%	(463) +20%	(488) -5%	(320) +34%	(237) +26%	(268) -13%	(245) +9%	(186) +24%	(141) +24%	(95) +33%	(195) -105%	(231) -18%	(267) -16%	(522) -96%	(607) -16%	(897) -48%	(1 025) -14%	(876) +15%	(898) -3%	(735) +18%	(694) +6%	(684) +1%	(781) -14%	200 N/A	52 -74%	(447) N/A	(231) +48%	(1 391) -502%	(1 343) +3%	(1 037) +23%	(1 416) -37%	(1 459) -3%	(1 650) -13%	(1 990) -21%	(1 717) +14%	(1 480) +14%	(1 413) +5%	(941) +33%	(1 061) -13%	(968) +9%	(1 074) -11%	(962) +10%	(783) +19%	(1 434) -83%	(1 400) +2%	(1 695) -21%	(1 858) -10%	(1 638) +12%	(2 095) -28%	(1 514) +28%	(924) +39%	(333) +64%	280 N/A	(699) N/A	(1 902) -172%	(2 363) -24%	(2 227) +6%	(1 979) +11%	(896) +55%	1 963 N/A	1 669 -15%	1 803 +8%	1 457 -19%	(1 511) N/A	(2 177) -44%	(1 315) +40%	(767) +42%	(544) +29%	(173) +68%	(580) -235%	(556) +4%	(1 140) -105%	(772) +32%
Change in Cash
Effect of Foreign Exchange Rates	(2)	1	0	2	4	4	5	6	4	2	4	4	3	(1)	(2)	(8)	(5)	(2)	0	6	7	11	14	18	22	19	0	(53)	(65)	(44)	(32)	17	3	(15)	7	5	33	30	(29)	(35)	(16)	(43)	26	29	(66)	(34)	(4)	35	108	136	17	(87)	(148)	(106)	(119)	(87)	(70)	(223)	(174)	(200)	(147)	(32)	24	98	127	12	(43)	(70)	(82)	(39)	(73)	(110)	(93)	(67)	(20)	(11)	(71)	(57)	(22)	35	74	116	162	50	(2)	(92)	(164)	(68)	(50)	(15)	(7)	(40)	(15)	32	23	56
Net Change in Cash	(27) N/A	(35) -30%	(45) -29%	174 N/A	20 -89%	11 -45%	31 +182%	(116) N/A	65 N/A	263 +305%	343 +30%	503 +47%	130 -74%	82 -37%	138 +68%	168 +22%	415 +147%	474 +14%	466 -2%	61 -87%	(155) N/A	(252) -63%	(403) -60%	(263) +35%	(75) +71%	(104) -39%	(52) +50%	(151) -190%	(93) +38%	12 N/A	114 +850%	504 +342%	532 +6%	390 -27%	251 -36%	93 -63%	(106) N/A	187 N/A	228 +22%	461 +102%	538 +17%	34 -94%	(132) N/A	(115) +13%	166 N/A	237 +43%	1 466 +519%	1 330 -9%	695 -48%	837 +20%	(171) N/A	(398) -133%	(181) +55%	(459) -154%	(640) -39%	(590) +8%	(1 082) -83%	(715) +34%	(437) +39%	(591) -35%	407 N/A	248 -39%	39 -84%	249 +538%	(115) N/A	25 N/A	(68) N/A	(66) +3%	121 N/A	79 -35%	338 +328%	(174) N/A	363 N/A	354 -2%	1 407 +297%	2 272 +61%	1 267 -44%	730 -42%	(379) N/A	(809) -113%	(682) +16%	(19) +97%	(89) -368%	(491) -452%	(296) +40%	(660) -123%	113 N/A	78 -31%	561 +619%	(212) N/A	(879) -315%	(508) +42%	(1 009) -99%	729 N/A	833 +14%	1 174 +41%
Free Cash Flow
Free Cash Flow	(97) N/A	12 N/A	49 +308%	103 +110%	65 -37%	22 -66%	23 +5%	47 +104%	157 +234%	313 +99%	363 +16%	463 +28%	292 -37%	292 N/A	402 +38%	574 +43%	588 +2%	711 +21%	724 +2%	591 -18%	463 -22%	386 -17%	458 +19%	457 0%	497 +9%	511 +3%	437 -14%	362 -17%	430 +19%	356 -17%	522 +47%	792 +52%	853 +8%	943 +11%	711 -25%	599 -16%	524 -13%	792 +51%	1 138 +44%	1 391 +22%	1 283 -8%	975 -24%	732 -25%	755 +3%	1 178 +56%	1 325 +12%	1 327 +0%	1 349 +2%	1 189 -12%	1 118 -6%	1 415 +27%	1 468 +4%	1 391 -5%	1 338 -4%	1 229 -8%	1 266 +3%	1 384 +9%	1 488 +8%	1 526 +3%	1 345 -12%	1 433 +7%	1 427 0%	1 515 +6%	1 690 +12%	1 215 -28%	1 338 +10%	1 532 +14%	1 594 +4%	2 081 +31%	2 286 +10%	2 520 +10%	2 406 -5%	2 419 +1%	1 646 -32%	1 787 +9%	2 147 +20%	2 092 -3%	2 684 +28%	1 994 -26%	1 470 -26%	1 278 -13%	1 237 -3%	992 -20%	1 046 +5%	1 299 +24%	1 122 -14%	2 211 +97%	2 753 +25%	2 558 -7%	1 205 -53%	337 -72%	279 -17%	7 -97%	1 652 +23 500%	2 278 +38%	2 386 +5%

Income Statement Balance Sheet Cash Flow Statement

Cummins Inc
NYSE:CMI

Cash Flow Statement

Cash Flow Statement
Cummins Inc

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Cummins Inc NYSE:CMI

Cash Flow Statement

Cash Flow Statement Cummins Inc

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Cummins Inc
NYSE:CMI

Cash Flow Statement
Cummins Inc