Cummins (CMI) 10-Q 2 Nov 23 2023 Q3 Quarterly report Financial data

DOCUMENT COVER Document

DOCUMENT COVER Document	9 Months Ended
	Sep. 30, 2023 $ / shares shares
Cover [Abstract]
Document Type	10-Q
Document Period End Date	Sep. 30, 2023
Entity File Number	1-4949
Entity Registrant Name	CUMMINS INC.
Entity Incorporation, State or Country Code	IN
Entity Tax Identification Number	35-0257090
Entity Address, Address Line One	500 Jackson Street
Entity Address, Address Line Two	Box 3005
Entity Address, City or Town	Columbus
Entity Address, State or Province	IN
Entity Address, Postal Zip Code	47202-3005
City Area Code	812
Local Phone Number	377-5000
Title of 12(b) Security	Common stock, $2.50 par value
Trading Symbol	CMI
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding | shares	141,744,863
Common Stock, Par or Stated Value Per Share | $ / shares	$ 2.50
Entity Central Index Key	0000026172
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q3
Document Quarterly Report	true
Amendment Flag	false
Document Transition Report	false

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF NET INCOME - USD ($) shares in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Income Statement [Abstract]
Net Sales	$ 8,431	$ 7,333	$ 25,522	$ 20,304
Cost of sales	6,360	5,691	19,274	15,404
GROSS MARGIN	2,071	1,642	6,248	4,900
OPERATING EXPENSES AND INCOME
Selling, general and administrative expenses	831	708	2,457	1,945
Research, development and engineering expenses	376	348	1,110	945
Equity, royalty and interest income from investees	118	70	370	261
Other operating expense, net	32	30	78	144
OPERATING INCOME	950	626	2,973	2,127
Interest expense	97	61	283	112
Other income, net	25	43	166	26
INCOME BEFORE INCOME TAXES	878	608	2,856	2,041
Income tax expense (Note 5)	188	199	623	502
CONSOLIDATED NET INCOME	690	409	2,233	1,539
Less: Net income attributable to noncontrolling interests	34	9	67	19
NET INCOME ATTRIBUTABLE TO CUMMINS INC.	$ 656	$ 400	$ 2,166	$ 1,520
EARNINGS PER COMMON SHARE ATTRIBUTABLE TO CUMMINS INC.
Basic (in dollars per share)	$ 4.63	$ 2.83	$ 15.29	$ 10.74
Diluted (in dollars per share)	$ 4.59	$ 2.82	$ 15.19	$ 10.68
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING
Basic (in shares)	141.8	141.1	141.7	141.5
Dilutive effect of stock compensation awards (in shares)	1	0.9	0.9	0.8
Diluted (in shares)	142.8	142	142.6	142.3

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Statement of Comprehensive Income [Abstract]
CONSOLIDATED NET INCOME	$ 690	$ 409	$ 2,233	$ 1,539
Other comprehensive income (loss), net of tax (Note 12)
Change in pension and other postretirement defined benefit plans	3	6	(4)	28
Foreign currency translation adjustments	(163)	(379)	(191)	(620)
Unrealized gain on derivatives	19	41	28	112
Total other comprehensive loss, net of tax	(141)	(332)	(167)	(480)
COMPREHENSIVE INCOME	549	77	2,066	1,059
Less: Comprehensive income (loss) attributable to noncontrolling interests	27	(6)	61	(19)
COMPREHENSIVE INCOME ATTRIBUTABLE TO CUMMINS INC.	$ 522	$ 83	$ 2,005	$ 1,078

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) shares in Millions, $ in Millions	Sep. 30, 2023	Dec. 31, 2022
Statement of Financial Position [Abstract]
Common stock, par value (in dollars per share)	$ 2.50
Common stock, shares authorized	500
Common stock, shares issued	222.5	222.5
Treasury Stock, Common, Shares	80.8	81.2
Current assets
Cash and cash equivalents	$ 2,387	$ 2,020
Restricted Cash	225	81
Marketable securities (Note 6)	452	472
Total cash, cash equivalents, restricted cash and marketable securities	3,064	2,573
Accounts and notes receivable, net	5,662	5,202
Inventories (Note 7)	5,906	5,603
Prepaid expenses and other current assets	1,280	1,073
Total current assets	15,912	14,451
Long-term assets
Property, plant and equipment	11,098	10,507
Accumulated depreciation	(5,297)	(4,986)
Property, plant and equipment, net	5,801	5,521
Investments and advances related to equity method investees	1,785	1,759
Goodwill	2,379	2,343
Other intangible assets, net	2,518	2,687
Pension assets (Note 3)	1,500	1,398
Other assets (Note 8)	2,202	2,140
Total assets	32,097	30,299
Current liabilities
Accounts payable (principally trade)	4,262	4,252
Loans payable (Note 9)	231	210
Commercial paper (Note 9)	1,710	2,574
Current maturities of long-term debt (Note 9)	573	573
Accrued compensation, benefits and retirement costs	884	617
Current portion of accrued product warranty (Note 10)	731	726
Current portion of deferred revenue (Note 2)	1,029	1,004
Other accrued expenses (Note 8)	1,706	1,465
Total current liabilities	11,126	11,421
Long-term liabilities
Long-term debt (Note 9)	4,950	4,498
Deferred revenue (Note 2)	1,011	844
Other liabilities (Note 8)	3,332	3,311
Total liabilities	20,419	20,074
Commitments and contingencies (Note 11)
Redeemable Noncontrolling Interest, Equity, Carrying Amount	0	258
Cummins Inc. shareholders' equity
Common stock, $2.50 par value, 500 shares authorized, 222.5 and 222.5 shares issued	2,558	2,243
Retained earnings	19,520	18,037
Treasury stock, at cost, 80.8 and 81.2 shares	(9,369)	(9,415)
Accumulated other comprehensive loss (Note 12)	(2,051)	(1,890)
Total Cummins Inc. shareholders' equity	10,658	8,975
Noncontrolling interests	1,020	992
Total equity	11,678	9,967
Total liabilities, redeemable noncontrolling interests and equity	$ 32,097	$ 30,299

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
CASH FLOWS FROM OPERATING ACTIVITIES
Consolidated net income	$ 2,233	$ 1,539
Adjustments to reconcile consolidated net income to net cash provided by operating activities
Depreciation and amortization	760	544
Deferred income taxes	(238)	(194)
Equity in income of investees, net of dividends	(100)	(30)
Pension and OPEB expense (Note 3)	4	23
Pension contributions and OPEB payments (Note 3)	(115)	(71)
Russian suspension costs, net of recoveries (Note 14)	0	112
Changes in current assets and liabilities, net of acquisitions
Accounts and notes receivable	(447)	(333)
Inventories	(318)	(597)
Other current assets	(191)	(18)
Accounts payable	43	353
Accrued expenses	543	(124)
Other, net	333	(59)
Net cash provided by operating activities	2,507	1,145
CASH FLOWS FROM INVESTING ACTIVITIES
Capital expenditures	(694)	(453)
Acquisitions of businesses, net of cash acquired (Note 16)	(127)	(3,008)
Investments in marketable securities—acquisitions	(976)	(738)
Investments in marketable securities—liquidations (Note 6)	1,002	819
Other, net	(65)	(116)
Net cash used in investing activities	(860)	(3,496)
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from borrowings	779	2,076
Net (payments) borrowings of commercial paper	(566)	2,080
Payments on borrowings and finance lease obligations	(391)	(1,070)
Dividend payments on common stock	(683)	(633)
Repurchases of common stock	0	(370)
Payments for purchase of redeemable noncontrolling interests (Note 16)	(175)	0
Other, net	(33)	28
Net cash (used in) provided by financing activities	(1,069)	2,111
Effect of exchange rate changes on cash, cash equivalents and restricted cash	(67)	147
Net increase (decrease) in cash, cash equivalents and restricted cash	511	(93)
Cash, cash equivalents and restricted cash at beginning of year	2,101	2,592
CASH, CASH EQUIVALENTS AND RESTRICTED CASH AT END OF PERIOD	$ 2,612	$ 2,499

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY - USD ($) $ in Millions	Total	Redeemable Noncontrolling Interest	Common Stock	Additional Paid-in Capital	Retained Earnings	Treasury Stock, Common	Accumulated Other Comprehensive Loss	Total Cummins Inc. Shareholders' Equity	Noncontrolling Interests	us-gaap_Net Income in Total Equity Excluding Noncontrolling Interest Amount
Statement of Stockholders' Equity [Abstract]
CASH DIVIDENDS DECLARED PER COMMON SHARE (in dollars per share)	$ 4.47
Redeemable noncontrolling interests (Note 16) at Dec. 31, 2021		$ 366
BALANCE AT BEGINNING OF PERIOD at Dec. 31, 2021	$ 9,035		$ 556	$ 1,543	$ 16,741	$ (9,123)	$ (1,571)	$ 8,146	$ 889
Increase (Decrease) in Shareholders' Equity
Net Income (Loss) Attributable to Redeemable Noncontrolling Interest		(18)
CONSOLIDATED NET INCOME	1,539				1,520			1,520	37	$ 1,557
Other comprehensive loss, net of tax (Note 12)	(480)						(442)	(442)	(38)
Issuance of common stock	8			8				8
Repurchases of common stock	(370)					(370)		(370)
Cash dividends on common stock	(633)				(633)			(633)
Distributions to noncontrolling interests	(38)								(38)
Share-based awards	36			(3)		39		36
Acquisition of business	111							0	111
Fair value adjustment of redeemable noncontrolling interests	96	(96)		96				96
Other shareholder transactions	36			14		5		19	17
Balance at End of Period Redeemable Noncontrolling Interest, Equity, Carrying Amount at Sep. 30, 2022		252
BALANCE AT END OF PERIOD at Sep. 30, 2022	$ 9,358		556	1,658	17,628	(9,449)	(2,013)	8,380	978
Statement of Stockholders' Equity [Abstract]
CASH DIVIDENDS DECLARED PER COMMON SHARE (in dollars per share)	$ 1.57
Redeemable noncontrolling interests (Note 16) at Jun. 30, 2022		226
BALANCE AT BEGINNING OF PERIOD at Jun. 30, 2022	$ 9,429		556	1,668	17,450	(9,439)	(1,696)	8,539	890
Increase (Decrease) in Shareholders' Equity
Net Income (Loss) Attributable to Redeemable Noncontrolling Interest		(7)
CONSOLIDATED NET INCOME	409				400			400	16	416
Other comprehensive loss, net of tax (Note 12)	(332)						(317)	(317)	(15)
Issuance of common stock	7			7				7
Repurchases of common stock	(23)					(23)		(23)
Cash dividends on common stock	(222)				(222)			(222)
Distributions to noncontrolling interests	(24)								(24)
Share-based awards	17			4		13		17
Acquisition of business	111							0	111
Fair value adjustment of redeemable noncontrolling interests	(33)	33		(33)				(33)
Other shareholder transactions	12			(12)				(12)
Balance at End of Period Redeemable Noncontrolling Interest, Equity, Carrying Amount at Sep. 30, 2022		252
BALANCE AT END OF PERIOD at Sep. 30, 2022	$ 9,358		556	1,658	17,628	(9,449)	(2,013)	8,380	978
Statement of Stockholders' Equity [Abstract]
CASH DIVIDENDS DECLARED PER COMMON SHARE (in dollars per share)	$ 4.82
Redeemable noncontrolling interests (Note 16) at Dec. 31, 2022	$ 258	258
BALANCE AT BEGINNING OF PERIOD at Dec. 31, 2022	9,967		556	1,687	18,037	(9,415)	(1,890)	8,975	992
Increase (Decrease) in Shareholders' Equity
Net Income (Loss) Attributable to Redeemable Noncontrolling Interest		(20)
CONSOLIDATED NET INCOME	2,233				2,166			2,166	87	2,253
Other comprehensive loss, net of tax (Note 12)	(167)						(161)	(161)	(6)
Issuance of common stock	3			3				3
Cash dividends on common stock	(683)				(683)			(683)
Distributions to noncontrolling interests	(50)								(50)
Share-based awards	41			(1)		42		41
Fair value adjustment of redeemable noncontrolling interests	(33)	33		(33)				(33)
Acquisition of redeemable noncontrolling interests (Note 16)		(271)
Sale of Atmus stock (Note 15)	282			285				285	(3)
Other shareholder transactions	65			61		4		65	0
Balance at End of Period Redeemable Noncontrolling Interest, Equity, Carrying Amount at Sep. 30, 2023	0	0
BALANCE AT END OF PERIOD at Sep. 30, 2023	$ 11,678		556	2,002	19,520	(9,369)	(2,051)	10,658	1,020
Statement of Stockholders' Equity [Abstract]
CASH DIVIDENDS DECLARED PER COMMON SHARE (in dollars per share)	$ 1.68
Redeemable noncontrolling interests (Note 16) at Jun. 30, 2023		0
BALANCE AT BEGINNING OF PERIOD at Jun. 30, 2023	$ 11,356		556	1,976	19,102	(9,380)	(1,917)	10,337	1,019
Increase (Decrease) in Shareholders' Equity
Net Income (Loss) Attributable to Redeemable Noncontrolling Interest
CONSOLIDATED NET INCOME	690				656			656	34	$ 690
Other comprehensive loss, net of tax (Note 12)	(141)						(134)	(134)	(7)
Issuance of common stock	1			1				1
Cash dividends on common stock	(238)				(238)			(238)
Distributions to noncontrolling interests	(26)								(26)
Share-based awards	13			3		10		13
Other shareholder transactions	23			22		1		23	0
Balance at End of Period Redeemable Noncontrolling Interest, Equity, Carrying Amount at Sep. 30, 2023	0	$ 0
BALANCE AT END OF PERIOD at Sep. 30, 2023	$ 11,678		$ 556	$ 2,002	$ 19,520	$ (9,369)	$ (2,051)	$ 10,658	$ 1,020

NATURE OF OPERATIONS AND BASIS

NATURE OF OPERATIONS AND BASIS OF PRESENTATION	9 Months Ended
	Sep. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
NATURE OF OPERATIONS	NOTE 1. NATURE OF OPERATIONS AND BASIS OF PRESENTATION Overview 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. We are a global power leader that designs, manufactures, distributes and services diesel, natural gas, electric and hybrid powertrains and powertrain-related components including filtration, aftertreatment, turbochargers, fuel systems, controls systems, air handling systems, automated transmissions, axles, drivelines, brakes, suspension systems, electric power generation systems, batteries, electrified power systems, electric powertrains, hydrogen production technologies and fuel cell products. We sell our products to original equipment manufacturers (OEMs), distributors, dealers and other customers worldwide. We serve our customers through a service network of approximately 460 wholly-owned, joint venture and independent distributor locations and more than 10,000 Cummins certified dealer locations in approximately 190 countries and territories. Interim Condensed Financial Statements The unaudited Condensed Consolidated Financial Statements reflect all adjustments which, in the opinion of management, are necessary for a fair statement of the results of operations, financial position and cash flows. All such adjustments are of a normal recurring nature. The Condensed Consolidated Financial Statements were prepared in accordance with accounting principles in the United States of America (GAAP) pursuant to the rules and regulations of the Securities and Exchange Commission (SEC) for interim financial information. Certain information and footnote disclosures normally included in annual financial statements were condensed or omitted as permitted by such rules and regulations. These interim condensed consolidated financial statements should be read in conjunction with the Consolidated Financial Statements included in our Annual Report on Form 10-K for the year ended December 31, 2022 . Our interim period financial results for the three and nine month periods presented are not necessarily indicative of results to be expected for any other interim period or for the entire year. The year-end Condensed Consolidated Balance Sheet data was derived from audited financial statements but does not include all required annual disclosures. Reclassifications Certain amounts for prior year periods were reclassified to conform to the current year presentation. Use of Estimates in Preparation of Financial Statements Preparation of financial statements requires management to make estimates and assumptions that affect reported amounts presented and disclosed in our Condensed Consolidated Financial Statements . Significant estimates and assumptions in these Condensed Consolidated Financial Statements require the exercise of judgment. Due to the inherent uncertainty involved in making estimates, actual results reported in future periods may be different from these estimates. Weighted-Average Diluted Shares Outstanding The weighted-average diluted common shares outstanding exclude the anti-dilutive effect of certain stock options. The options excluded from diluted earnings per share were as follows: Three months ended Nine months ended September 30, September 30, 2023 2022 2023 2022 Options excluded 7,267 22,307 8,770 25,290 Related Party Transactions In accordance with the provisions of various joint venture agreements, we may purchase products and components from our joint ventures, sell products and components to our joint ventures and our joint ventures may sell products and components to unrelated parties. The following is a summary of sales to and purchases from nonconsolidated equity investees: Three months ended Nine months ended September 30, September 30, In millions 2023 2022 2023 2022 Sales to nonconsolidated equity investees $ 315 $ 295 $ 1,011 $ 920 Purchases from nonconsolidated equity investees 602 515 1,993 1,270 The following is a summary of accounts receivable from and accounts payable to nonconsolidated equity investees: In millions September 30, December 31, Balance Sheet Location Accounts receivable from nonconsolidated equity investees $ 458 $ 376 Accounts and notes receivable, net Accounts payable to nonconsolidated equity investees 296 292 Accounts payable (principally trade) Supply Chain Financing We currently have supply chain financing programs with financial intermediaries, which provide certain vendors the option to be paid by financial intermediaries earlier than the due date on the applicable invoice. When a vendor utilizes the program and receives an early payment from a financial intermediary, they take a discount on the invoice. We then pay the financial intermediary the face amount of the invoice on the original due date, which generally have 60 to 90 day payment terms. The maximum amount that we could have outstanding under the program was $482 million at September 30, 2023. We do not reimburse vendors for any costs they incur for participation in the program, their participation is completely voluntary and there are no assets pledged as security or other forms of guarantees provided for the committed payment to the finance provider or intermediary. As a result, all amounts owed to the financial intermediaries are presented as accounts payable in our Condensed Consolidated Balance Sheets . Amounts due to the financial intermediaries reflected in accounts payable at September 30, 2023 and December 31, 2022, were $220 million and $331 million, respectively.

REVENUE RECOGNITION LONG-TERM C

REVENUE RECOGNITION LONG-TERM CONTRACTS AND DEFERRED AND UNBILLED REVENUE	9 Months Ended
	Sep. 30, 2023
Revenue from Contract with Customer [Abstract]
Revenue from Contract with Customer	NOTE 2. REVENUE FROM CONTRACTS WITH CUSTOMERS Long-term Contracts We have certain arrangements, primarily long-term maintenance agreements, construction contracts, product sales with associated performance obligations extending beyond a year 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 were not satisfied as of September 30, 2023, was $795 million. We expect to recognize the related revenue of $334 million over the next 12 months and $461 million over periods up to 10 years. See NOTE 10, "PRODUCT WARRANTY LIABILITY," for additional disclosures on extended warranty coverage arrangements. Our other contracts generally are for a duration of less than one year, include payment terms that correspond to the timing of costs incurred when providing goods and services to our customers or represent sales-based royalties. Deferred and Unbilled Revenue The following is a summary of our unbilled and deferred revenue and related activity: In millions September 30, December 31, Unbilled revenue $ 296 $ 257 Deferred revenue 2,040 1,848 Disaggregation of Revenue Consolidated Revenue The table below presents our consolidated sales by geographic area. Net sales attributed to geographic areas were based on the location of the customer. Three months ended Nine months ended September 30, September 30, In millions 2023 2022 2023 2022 United States (1) $ 4,886 $ 4,226 $ 14,625 $ 11,471 China 721 601 2,273 1,774 India 374 358 1,198 978 Other international (1) 2,450 2,148 7,426 6,081 Total net sales $ 8,431 $ 7,333 $ 25,522 $ 20,304 (1) We revised $110 million from other international to United States for both the three and nine months ended September 30, 2022. Segment Revenue As previously announced, our Components segment reorganized its reporting structure to carve out the electronics business into the newly formed software and electronics business and combined the turbo technologies and fuel systems businesses into the newly formed engine components business. We started reporting results for the reorganized business in the first quarter of 2023 and reflected these changes for prior periods. On May 26, 2023, with the Atmus Filtration Technologies Inc. (Atmus) initial public offering (IPO), we changed the name of our Components' filtration business to Atmus. See NOTE 15, "FORMATION OF ATMUS AND IPO," to our Condensed Consolidated Financial Statements for additional information. Components segment external sales by business were as follows: Three months ended Nine months ended September 30, September 30, In millions 2023 2022 2023 2022 Axles and brakes $ 1,177 $ 732 $ 3,698 $ 732 Emission solutions 803 748 2,584 2,323 Atmus 324 322 1,007 949 Engine components 263 239 838 702 Automated transmissions 187 159 545 436 Software and electronics 26 20 75 72 Total sales $ 2,780 $ 2,220 $ 8,747 $ 5,214 Engine segment external sales by market were as follows: Three months ended Nine months ended September 30, September 30, In millions 2023 2022 2023 2022 Heavy-duty truck $ 885 $ 751 $ 2,601 $ 2,232 Medium-duty truck and bus 656 583 1,960 1,794 Light-duty automotive 451 465 1,336 1,377 Total on-highway 1,992 1,799 5,897 5,403 Off-highway 244 264 854 801 Total sales $ 2,236 $ 2,063 $ 6,751 $ 6,204 As previously announced, due to the indefinite suspension of operations in Russia, we reorganized the regional management structure of our Distribution segment and moved all Commonwealth of Independent States (CIS) sales into the Europe and Africa and Middle East regions. The Russian portion of prior period CIS sales moved to the Europe region. We started to report results for our new regional management structure in the first quarter of 2023 and reflected these changes for historical periods. Distribution segment external sales by region were as follows: Three months ended Nine months ended September 30, September 30, In millions 2023 2022 2023 2022 North America $ 1,719 $ 1,512 $ 5,195 $ 4,374 Asia Pacific 292 258 796 744 Europe 200 181 607 702 China 110 89 323 270 Africa and Middle East 77 79 219 190 India 66 55 186 155 Latin America 55 58 168 155 Total sales $ 2,519 $ 2,232 $ 7,494 $ 6,590 Distribution segment external sales by product line were as follows: Three months ended Nine months ended September 30, September 30, In millions 2023 2022 2023 2022 Parts $ 991 $ 942 $ 3,054 $ 2,855 Power generation 601 428 1,701 1,266 Engines 507 449 1,490 1,315 Service 420 413 1,249 1,154 Total sales $ 2,519 $ 2,232 $ 7,494 $ 6,590 Power Systems segment external sales by product line were as follows: Three months ended Nine months ended September 30, September 30, In millions 2023 2022 2023 2022 Power generation $ 420 $ 425 $ 1,247 $ 1,232 Industrial 263 226 670 627 Generator technologies 115 122 354 331 Total sales $ 798 $ 773 $ 2,271 $ 2,190

REVENUE RECOGNITION DISAGGREGAT

REVENUE RECOGNITION DISAGGREGATION OF REVENUES	9 Months Ended
	Sep. 30, 2023
Revenue from Contract with Customer [Abstract]
Revenue from Contract with Customer	NOTE 2. REVENUE FROM CONTRACTS WITH CUSTOMERS Long-term Contracts We have certain arrangements, primarily long-term maintenance agreements, construction contracts, product sales with associated performance obligations extending beyond a year 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 were not satisfied as of September 30, 2023, was $795 million. We expect to recognize the related revenue of $334 million over the next 12 months and $461 million over periods up to 10 years. See NOTE 10, "PRODUCT WARRANTY LIABILITY," for additional disclosures on extended warranty coverage arrangements. Our other contracts generally are for a duration of less than one year, include payment terms that correspond to the timing of costs incurred when providing goods and services to our customers or represent sales-based royalties. Deferred and Unbilled Revenue The following is a summary of our unbilled and deferred revenue and related activity: In millions September 30, December 31, Unbilled revenue $ 296 $ 257 Deferred revenue 2,040 1,848 Disaggregation of Revenue Consolidated Revenue The table below presents our consolidated sales by geographic area. Net sales attributed to geographic areas were based on the location of the customer. Three months ended Nine months ended September 30, September 30, In millions 2023 2022 2023 2022 United States (1) $ 4,886 $ 4,226 $ 14,625 $ 11,471 China 721 601 2,273 1,774 India 374 358 1,198 978 Other international (1) 2,450 2,148 7,426 6,081 Total net sales $ 8,431 $ 7,333 $ 25,522 $ 20,304 (1) We revised $110 million from other international to United States for both the three and nine months ended September 30, 2022. Segment Revenue As previously announced, our Components segment reorganized its reporting structure to carve out the electronics business into the newly formed software and electronics business and combined the turbo technologies and fuel systems businesses into the newly formed engine components business. We started reporting results for the reorganized business in the first quarter of 2023 and reflected these changes for prior periods. On May 26, 2023, with the Atmus Filtration Technologies Inc. (Atmus) initial public offering (IPO), we changed the name of our Components' filtration business to Atmus. See NOTE 15, "FORMATION OF ATMUS AND IPO," to our Condensed Consolidated Financial Statements for additional information. Components segment external sales by business were as follows: Three months ended Nine months ended September 30, September 30, In millions 2023 2022 2023 2022 Axles and brakes $ 1,177 $ 732 $ 3,698 $ 732 Emission solutions 803 748 2,584 2,323 Atmus 324 322 1,007 949 Engine components 263 239 838 702 Automated transmissions 187 159 545 436 Software and electronics 26 20 75 72 Total sales $ 2,780 $ 2,220 $ 8,747 $ 5,214 Engine segment external sales by market were as follows: Three months ended Nine months ended September 30, September 30, In millions 2023 2022 2023 2022 Heavy-duty truck $ 885 $ 751 $ 2,601 $ 2,232 Medium-duty truck and bus 656 583 1,960 1,794 Light-duty automotive 451 465 1,336 1,377 Total on-highway 1,992 1,799 5,897 5,403 Off-highway 244 264 854 801 Total sales $ 2,236 $ 2,063 $ 6,751 $ 6,204 As previously announced, due to the indefinite suspension of operations in Russia, we reorganized the regional management structure of our Distribution segment and moved all Commonwealth of Independent States (CIS) sales into the Europe and Africa and Middle East regions. The Russian portion of prior period CIS sales moved to the Europe region. We started to report results for our new regional management structure in the first quarter of 2023 and reflected these changes for historical periods. Distribution segment external sales by region were as follows: Three months ended Nine months ended September 30, September 30, In millions 2023 2022 2023 2022 North America $ 1,719 $ 1,512 $ 5,195 $ 4,374 Asia Pacific 292 258 796 744 Europe 200 181 607 702 China 110 89 323 270 Africa and Middle East 77 79 219 190 India 66 55 186 155 Latin America 55 58 168 155 Total sales $ 2,519 $ 2,232 $ 7,494 $ 6,590 Distribution segment external sales by product line were as follows: Three months ended Nine months ended September 30, September 30, In millions 2023 2022 2023 2022 Parts $ 991 $ 942 $ 3,054 $ 2,855 Power generation 601 428 1,701 1,266 Engines 507 449 1,490 1,315 Service 420 413 1,249 1,154 Total sales $ 2,519 $ 2,232 $ 7,494 $ 6,590 Power Systems segment external sales by product line were as follows: Three months ended Nine months ended September 30, September 30, In millions 2023 2022 2023 2022 Power generation $ 420 $ 425 $ 1,247 $ 1,232 Industrial 263 226 670 627 Generator technologies 115 122 354 331 Total sales $ 798 $ 773 $ 2,271 $ 2,190

PENSION AND OTHER POSTRETIREMEN

PENSION AND OTHER POSTRETIREMENT BENEFITS	9 Months Ended
	Sep. 30, 2023
Retirement Benefits [Abstract]
PENSION AND OTHER POSTRETIREMENT BENEFITS	NOTE 3. PENSIONS AND OTHER POSTRETIREMENT BENEFITS We sponsor funded and unfunded domestic and foreign defined benefit pension and other postretirement benefit (OPEB) plans. Contributions to these plans were as follows: Three months ended Nine months ended September 30, September 30, In millions 2023 2022 2023 2022 Defined benefit pension contributions $ 8 $ 7 $ 102 $ 46 OPEB payments, net 4 9 13 25 Defined contribution pension plans 29 26 102 82 We anticipate making additional defined benefit pension contributions during the remainder of 2023 of $13 million for our U.S. and U.K. qualified and non-qualified pension plans. These contributions may be made from trusts or company funds either to increase pension assets or to make direct benefit payments to plan participants. We expect our 2023 annual net periodic pension cost to be near zero. The components of net periodic pension and OPEB expense (income) under our plans were as follows: Pension U.S. Plans U.K. Plans OPEB Three months ended September 30, In millions 2023 2022 2023 2022 2023 2022 Service cost $ 29 $ 35 $ 4 $ 7 $ — $ — Interest cost 42 27 18 10 2 2 Expected return on plan assets (69) (60) (27) (22) — — Amortization of prior service cost — 1 1 — — — Recognized net actuarial loss (gain) 2 5 — 1 (1) — Net periodic benefit expense (income) $ 4 $ 8 $ (4) $ (4) $ 1 $ 2 Pension U.S. Plans U.K. Plans OPEB Nine months ended September 30, In millions 2023 2022 2023 2022 2023 2022 Service cost $ 87 $ 103 $ 12 $ 23 $ — $ — Interest cost 126 71 53 28 6 4 Expected return on plan assets (207) (164) (79) (62) — — Amortization of prior service cost 1 1 1 — — — Recognized net actuarial loss (gain) 6 17 — 2 (2) — Net periodic benefit expense (income) $ 13 $ 28 $ (13) $ (9) $ 4 $ 4

EQUITY, ROYALTY AND INTEREST IN

EQUITY, ROYALTY AND INTEREST INCOME FROM INVESTEES	9 Months Ended
	Sep. 30, 2023
Equity Method Investments and Joint Ventures [Abstract]
EQUITY, ROYALTY AND INTEREST INCOME FROM INVESTEES	NOTE 4. EQUITY, ROYALTY AND INTEREST INCOME FROM INVESTEES Equity, royalty and interest income from investees included in our Condensed Consolidated Statements of Net Income for the reporting periods was as follows: Three months ended Nine months ended September 30, September 30, In millions 2023 2022 2023 2022 Manufacturing entities Dongfeng Cummins Engine Company, Ltd. $ 15 $ 8 $ 52 $ 35 Beijing Foton Cummins Engine Co., Ltd. 8 6 33 34 Chongqing Cummins Engine Company, Ltd. 7 7 29 23 Tata Cummins, Ltd. 6 5 21 19 All other manufacturers 18 11 69 14 (1) Distribution entities Komatsu Cummins Chile, Ltda. 13 13 40 32 All other distributors 3 3 10 8 Cummins share of net income 70 53 254 165 Royalty and interest income 48 17 116 96 Equity, royalty and interest income from investees $ 118 $ 70 $ 370 $ 261 (1) Includes a $28 million impairment of our joint venture with KAMAZ and $3 million of royalty charges as part of our costs associated with the indefinite suspension of our Russian operations. See NOTE 14, "RUSSIAN OPERATIONS," to our Condensed Consolidated Financial Statements for additional information.

INCOME TAXES

INCOME TAXES	9 Months Ended
	Sep. 30, 2023
Income Tax Disclosure [Abstract]
Income Tax Disclosure	NOTE 5. INCOME TAXES Our effective tax rates for the three and nine months ended September 30, 2023, were 21.4 percent and 21.8 percent, respectively. Our effective tax rates for the three and nine months ended September 30, 2022, were 32.7 percent and 24.6 percent, respectively. The three months ended September 30, 2023, contained net favorable discrete tax items of $5 million, primarily due to $13 million of favorable return to provision adjustments and $1 million of favorable share-based compensation tax benefits, partially offset by $9 million of unfavorable adjustments for uncertain tax positions. The nine months ended September 30, 2023, contained net favorable discrete tax items of $5 million, primarily due to $15 million of favorable return to provision adjustments and $5 million of favorable share-based compensation tax benefit, partially offset by $11 million of unfavorable adjustments for uncertain tax positions and $4 million of other unfavorable adjustments. The three months ended September 30, 2022, contained unfavorable discrete tax items of $57 million, primarily due to $51 million of unfavorable tax costs associated with internal restructuring ahead of the planned separation of Atmus and $10 million of unfavorable return to provision adjustments, partially offset by $4 million of net favorable other discrete tax items.

MARKETABLE SECURITIES

MARKETABLE SECURITIES	9 Months Ended
	Sep. 30, 2023
Investments, Debt and Equity Securities [Abstract]
MARKETABLE SECURITIES	NOTE 6. MARKETABLE SECURITIES A summary of marketable securities, all of which were classified as current, was as follows: September 30, December 31, In millions Cost Gross unrealized gains/(losses) (1) Estimated Cost Gross unrealized gains/(losses) (1) Estimated Equity securities Debt mutual funds $ 236 $ (7) $ 229 $ 238 $ (5) $ 233 Certificates of deposit 191 — 191 209 — 209 Equity mutual funds 24 4 28 25 3 28 Debt securities 4 — 4 2 — 2 Marketable securities $ 455 $ (3) $ 452 $ 474 $ (2) $ 472 (1) Unrealized gains and losses for debt securities are recorded in other comprehensive income while unrealized gains and losses for equity securities are recorded in our Condensed Consolidated Statements of Net Income . All debt securities are classified as available-for-sale. All marketable securities presented use a Level 2 fair value measure. The fair value of Level 2 securities is estimated using actively quoted prices for similar instruments from brokers and observable inputs where available, including market transactions and third-party pricing services, or net asset values provided to investors. We do not currently have any Level 3 securities, and there were no transfers between Level 2 or 3 during the nine months ended September 30, 2023, or the year ended December 31, 2022. A description of the valuation techniques and inputs used for our Level 2 fair value measures is as follows: • Debt mutual funds — The fair value measures for the vast majority of these investments are the daily net asset values published on a regulated governmental website. Daily quoted prices are available from the issuing brokerage and are used on a test basis to corroborate this Level 2 input measure. • Certificates of deposit — These investments provide us with a contractual rate of return and generally range in maturity from three months to five years. The counterparties to these investments are reputable financial institutions with investment grade credit ratings. Since these instruments are not tradable and must be settled directly by us with the respective financial institution, our fair value measure is the financial institution's month-end statement. • Equity mutual funds — The fair value measures for these investments are the net asset values published by the issuing brokerage. Daily quoted prices are available from reputable third-party pricing services and are used on a test basis to corroborate this Level 2 input measure. • Debt securities — The fair value measures for these securities are broker quotes received from reputable firms. These securities are infrequently traded on a national exchange and these values are used on a test basis to corroborate our Level 2 input measure. The proceeds from sales and maturities of marketable securities were as follows: Nine months ended September 30, In millions 2023 2022 Proceeds from sales of marketable securities $ 812 $ 576 Proceeds from maturities of marketable securities 190 243 Investments in marketable securities - liquidations $ 1,002 $ 819

INVENTORIES

INVENTORIES	9 Months Ended
	Sep. 30, 2023
Inventory Disclosure [Abstract]
INVENTORIES	NOTE 7. INVENTORIES Inventories are stated at the lower of cost or net realizable value. Inventories included the following: In millions September 30, December 31, Finished products $ 3,168 $ 2,917 Work-in-process and raw materials 2,988 2,926 Inventories at FIFO cost 6,156 5,843 Excess of FIFO over LIFO (250) (240) Inventories $ 5,906 $ 5,603

SUPPLEMENTAL BALANCE SHEET DATA

SUPPLEMENTAL BALANCE SHEET DATA	9 Months Ended
	Sep. 30, 2023
Balance Sheet Related Disclosures [Abstract]
SUPPLEMENTAL BALANCE SHEET DATA	NOTE 8. SUPPLEMENTAL BALANCE SHEET DATA Other assets included the following: In millions September 30, December 31, Deferred income taxes $ 865 $ 625 Operating lease assets 500 492 Corporate owned life insurance 383 390 Other 454 633 Other assets $ 2,202 $ 2,140 Other accrued expenses included the following: In millions September 30, December 31, Marketing accruals $ 403 $ 316 Income taxes payable 239 173 Other taxes payable 238 224 Current portion of operating lease liabilities 133 132 Other 693 620 Other accrued expenses $ 1,706 $ 1,465 Other liabilities included the following: In millions September 30, December 31, Accrued product warranty (1) $ 806 $ 744 Deferred income taxes 607 649 Pensions 438 445 Operating lease liabilities 373 368 Accrued compensation 192 184 Mark-to-market valuation on interest rate derivatives 155 151 Other postretirement benefits 135 141 Long-term income taxes 120 192 Other long-term liabilities 506 437 Other liabilities $ 3,332 $ 3,311 (1) See NOTE 10, "PRODUCT WARRANTY LIABILITY," to our Condensed Consolidated Financial Statements for additional information.

DEBT

DEBT	9 Months Ended
	Sep. 30, 2023
Debt Disclosure [Abstract]
DEBT	NOTE 9. DEBT Loans Payable and Commercial Paper Loans payable, commercial paper and the related weighted-average interest rates were as follows: In millions September 30, December 31, Loans payable (1) $ 231 $ 210 Commercial paper (2) 1,710 2,574 (1) Loans payable consist primarily of notes payable to various domestic and international financial institutions. It is not practicable to aggregate these notes and calculate a quarterly weighted-average interest rate. (2) The weighted-average interest rate, inclusive of all brokerage fees, was 5.48 percent and 4.27 percent at September 30, 2023 and December 31, 2022, respectively. We can issue up to $4.0 billion of unsecured, short-term promissory notes (commercial paper) pursuant to the Board of Directors (the Board) authorized commercial paper programs. These programs facilitate the private placement of unsecured short-term debt through third-party brokers. We intend to use the net proceeds from the commercial paper borrowings for acquisitions and general corporate purposes. Revolving Credit Facilities On June 5, 2023, we entered into an amended and restated 364-day credit agreement that allows us to borrow up to $2.0 billion of unsecured funds at any time prior to June 3, 2024. This credit agreement amended and restated the prior $1.5 billion 364-day credit facility that matured on August 16, 2023. In connection with the 364-day credit agreement, effective June 5, 2023, we terminated our $500 million incremental 364-day credit agreement dated August 17, 2022. We have access to committed credit facilities totaling $4.0 billion, including our $2.0 billion 364-day facility that expires June 3, 2024, and our $2.0 billion five-year facility that expires on August 18, 2026. We intend to maintain credit facilities at the current or higher aggregate amounts by renewing or replacing these facilities at or before expiration. These revolving credit facilities are maintained primarily to provide backup liquidity for our commercial paper borrowings and general corporate purposes. There were no outstanding borrowings under these facilities at September 30, 2023 and December 31, 2022. At September 30, 2023, the $1.7 billion of outstanding commercial paper effectively reduced the $4.0 billion of revolving credit capacity to $2.3 billion. At September 30, 2023, we also had an additional $356 million available for borrowings under our international and other domestic credit facilities. At September 30, 2023, Atmus had no outstanding borrowings under its $400 million revolving credit facility. See "Atmus Credit Agreement" section below for additional details. Long-term Debt A summary of long-term debt was as follows: In millions Interest Rate September 30, December 31, Long-term debt Senior notes, due 2023 (1) 3.65% $ 500 $ 500 Hydrogenics promissory notes, due 2024 and 2025 (2) —% 160 — Term loan, due 2025 (3) (4) Variable 1,350 1,550 Senior notes, due 2025 (5) 0.75% 500 500 Atmus term loan, due 2027 (6) Variable 600 — Debentures, due 2027 6.75% 58 58 Debentures, due 2028 7.125% 250 250 Senior notes, due 2030 (5) 1.50% 850 850 Senior notes, due 2043 4.875% 500 500 Senior notes, due 2050 2.60% 650 650 Debentures, due 2098 (7) 5.65% 165 165 Other debt 56 121 Unamortized discount and deferred issuance costs (75) (64) Fair value adjustments due to hedge on indebtedness (141) (122) Finance leases 100 113 Total long-term debt 5,523 5,071 Less: Current maturities of long-term debt 573 573 Long-term debt $ 4,950 $ 4,498 (1) Senior notes, due 2023, are classified as current maturities of long-term debt. On October 2, 2023, we repaid the $500 million senior notes. See NOTE 19, "SUBSEQUENT EVENTS," to our Condensed Consolidated Financial Statements for additional information. (2) See NOTE 16, "ACQUISITIONS," to our Condensed Consolidated Financial Statements for additional information. (3) During the first nine months of 2023, we paid down $200 million of the term loan, and on October 31, 2023, we repaid an additional $150 million of the term loan. (4) In September 2023, we entered into a series of interest rate swaps in order to trade a portion of the floating rate debt into fixed rate. See "Interest Rate Risk" in NOTE 13, "DERIVATIVES," to our Condensed Consolidated Financial Statements for additional information. (5) In 2021, we entered into a series of interest rate swaps to effectively convert debt from a fixed rate to floating rate. See "Interest Rate Risk" in NOTE 13, "DERIVATIVES," to our Condensed Consolidated Financial Statements for additional information. (6) See "Atmus Credit Agreement" section below for additional information. (7) The effective interest rate is 7.48 percent. Principal payments required on long-term debt during the next five years are as follows: In millions 2023 2024 2025 2026 2027 Principal payments $ 523 (1) $ 106 $ 1,989 $ 50 $ 604 (1) On October 2, 2023, we repaid our $500 million senior notes, due 2023. See NOTE 19, "SUBSEQUENT EVENTS," to our Condensed Consolidated Financial Statements for additional information. Fair Value of Debt Based on borrowing rates currently available to us for bank loans with similar terms and average maturities, considering our risk premium, the fair values and carrying values of total debt, including current maturities, were as follows: In millions September 30, December 31, Fair value of total debt (1) $ 6,939 $ 7,400 Carrying value of total debt 7,464 7,855 (1) The fair value of debt is derived from Level 2 input measures. Atmus Credit Agreement On February 15, 2023, certain of our subsidiaries entered into an amendment to the $1.0 billion credit agreement (Credit Agreement), consisting of a $400 million revolving credit facility and a $600 million term loan facility, in anticipation of the separation of Atmus, which extended the date on which the Credit Agreement terminated from March 30, 2023, to June 30, 2023. On May 26, 2023, Atmus drew down the entire $600 million term loan facility and borrowed $50 million under the revolving credit facility. Borrowings under the Credit Agreement mature in September 2027 (with quarterly payments on the term loan beginning in September 2024) and bear interest at varying rates, depending on the type of loan and, in some cases, the rates of designated benchmarks and the applicable borrower’s election. Generally, U.S. dollar-denominated loans bear interest at adjusted term Secured Overnight Financing Rate (SOFR) (which includes a 0.10 percent credit spread adjustment to term SOFR) for the applicable interest period plus a rate ranging from 1.125 percent to 1.75 percent. The Credit Agreement contains customary events of default and financial and other covenants, including maintaining a net leverage ratio of 4.0 to 1.0 and a minimum interest coverage ratio of 3.0 to 1.0. At September 30, 2023, they had no outstanding borrowings under the revolving credit facility and $600 million outstanding under the term loan facility. See NOTE 15, "FORMATION OF ATMUS AND IPO," to our Condensed Consolidated Financial Statements for additional information.

PRODUCT WARRANTY LIABILITY

PRODUCT WARRANTY LIABILITY	9 Months Ended
	Sep. 30, 2023
Product Warranties Disclosures [Abstract]
PRODUCT WARRANTY LIABILITY	NOTE 10. PRODUCT WARRANTY LIABILITY A tabular reconciliation of the product warranty liability, including the deferred revenue related to our extended warranty coverage and accrued product campaigns, was as follows: Nine months ended September 30, In millions 2023 2022 Balance, beginning of year $ 2,477 $ 2,425 Provision for base warranties issued 458 395 Deferred revenue on extended warranty contracts sold 244 215 Provision for product campaigns issued 17 132 Payments made during period (429) (476) Amortization of deferred revenue on extended warranty contracts (226) (220) Changes in estimates for pre-existing product warranties and campaigns 19 (80) Acquisitions — 144 Foreign currency translation adjustments and other (2) 19 Balance, end of period $ 2,558 $ 2,554 We recognized supplier recoveries of $7 million and $19 million for the three and nine months ended September 30, 2023, compared with $10 million and $33 million for the comparable periods in 2022. Warranty related deferred revenues and warranty liabilities on our Condensed Consolidated Balance Sheets were as follows: In millions September 30, December 31, Balance Sheet Location Deferred revenue related to extended coverage programs Current portion $ 282 $ 290 Current portion of deferred revenue Long-term portion 739 717 Deferred revenue Total $ 1,021 $ 1,007 Product warranty Current portion $ 731 $ 726 Current portion of accrued product warranty Long-term portion 806 744 Other liabilities Total $ 1,537 $ 1,470 Total warranty accrual $ 2,558 $ 2,477

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	9 Months Ended
	Sep. 30, 2023
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	NOTE 11. COMMITMENTS AND CONTINGENCIES Legal Proceedings We are subject to numerous lawsuits and claims arising out of the ordinary course of our business, including actions related to product liability; personal injury; the use and performance of our products; warranty matters; product recalls; patent, trademark or other intellectual property infringement; contractual liability; the conduct of our business; tax reporting in foreign jurisdictions; distributor termination; workplace safety; environmental matters; and asbestos claims. We also have been identified as a potentially responsible party at multiple waste disposal sites under U.S. federal and related state environmental statutes and regulations and may have joint and several liability for any investigation and remediation costs incurred with respect to such sites. We have denied liability with respect to many of these lawsuits, claims and proceedings and are vigorously defending such lawsuits, claims and proceedings. We carry various forms of commercial, property and casualty, product liability and other forms of insurance; however, such insurance may not be applicable or adequate to cover the costs associated with a judgment against us with respect to these lawsuits, claims and proceedings. We do not believe that these lawsuits are material individually or in the aggregate. While we believe we have also established adequate accruals for our expected future liability with respect to pending lawsuits, claims and proceedings, where the nature and extent of any such liability can be reasonably estimated based upon then presently available information, there can be no assurance that the final resolution of any existing or future lawsuits, claims or proceedings will not have a material adverse effect on our business, results of operations, financial condition or cash flows. We conduct significant business operations in Brazil that are subject to the Brazilian federal, state and local labor, social security, tax and customs laws. While we believe we comply with such laws, they are complex, subject to varying interpretations and we are often engaged in litigation regarding the application of these laws to particular circumstances. On June 28, 2022, KAMAZ Publicly Traded Company (KAMAZ) was designated to the List of Specially Designated Nationals and Blocked Persons by the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC). We filed blocked property reports for relevant assets and sought relevant authorizations to extricate ourselves from our relationship with KAMAZ and its subsidiaries, including our unconsolidated joint venture with KAMAZ, in compliance with U.S. and other applicable laws. We received OFAC authorization on May 26, 2023, and from the U.K. Office of Financial Sanctions Implementation on September 15, 2023, which will allow us to finalize the exit of our unconsolidated joint venture with KAMAZ. On April 29, 2019, we announced that we were conducting a formal internal review of our emissions certification process and compliance with emission standards for our pick-up truck applications, following conversations with the Environmental Protection Agency (EPA) and California Air Resources Board (CARB) regarding certification of our engines in model year 2019 RAM 2500 and 3500 trucks. This review is being conducted with external advisors as we strive to ensure the certification and compliance processes for all of our pick-up truck applications are consistent with our internal policies, engineering standards and applicable laws. During conversations with the EPA and CARB about the effectiveness of our pick-up truck applications, the regulators raised concerns that certain aspects of our emissions systems may reduce the effectiveness of our emissions control systems and thereby act as defeat devices. As a result, our internal review focuses, in part, on the regulators’ concerns. We are working closely with the regulators to enhance our emissions systems to improve the effectiveness of all of our pick-up truck applications and to fully address the regulators’ requirements. Based on discussions with the regulators, we have developed a new calibration for the engines in model year 2019 RAM 2500 and 3500 trucks that has been included in all engines shipped since September 2019. During our ongoing discussions, the regulators turned their attention to other model years and other engines, most notably our pick-up truck applications for RAM 2500 and 3500 trucks for model years 2013 through 2018 and Titan trucks for model years 2016 through 2019. Most recently, the regulators have also raised concerns regarding the completeness of our disclosures in our certification applications for RAM 2500 and 3500 trucks for model years 2013 through 2023. We have also been in communication with Environmental and Climate Change Canada regarding similar issues relating to some of these very same platforms. In connection with these and other ongoing discussions with the EPA and CARB, we are developing a new software calibration and will recall model years 2013 through 2018 RAM 2500 and 3500 trucks. We accrued $30 million for the RAM recall during the first quarter of 2022, an amount that reflected our current estimate of the cost of that recall. We are also developing a new software calibration and hardware fix and will recall model years 2016 through 2019 Titan trucks. We accrued $29 million for the Titan recall during the third quarter of 2022, an amount that reflected our current estimate of the cost of that recall. We will continue to work together closely with the relevant regulators to develop and implement recommendations for improvements and seek to reach further resolutions as part of our ongoing commitment to compliance. Based upon our discussions to date with the regulators which are continuing, such resolutions may involve our agreeing to one or more consent decrees and paying civil penalties. Due to the presence of many unknown facts and circumstances, we are not yet able to estimate any further financial impact of these matters. The consequences resulting from our formal review and these regulatory processes likely will have a material adverse impact on our results of operations and cash flows, however we cannot yet reasonably estimate a loss or range of loss. Guarantees and Commitments Periodically, we enter into guarantee arrangements, including guarantees of non-U.S. distributor financings, residual value guarantees on equipment under operating leases and other miscellaneous guarantees of joint ventures or third-party obligations. At September 30, 2023, the maximum potential loss related to these guarantees was $47 million. We have arrangements with certain suppliers that require us to purchase minimum volumes or be subject to monetary penalties. At September 30, 2023, if we were to stop purchasing from each of these suppliers, the aggregate amount of the penalty would be approximately $252 million. These arrangements enable us to secure supplies of critical components and IT services. We do not currently anticipate paying any penalties under these contracts. We enter into physical forward contracts with suppliers of platinum and palladium to purchase certain volumes of the commodities at contractually stated prices for various periods, which generally fall within two years. At September 30, 2023, the total commitments under these contracts were $38 million. These arrangements enable us to guarantee the prices of these commodities, which otherwise are subject to market volatility. We have guarantees with certain customers that require us to satisfactorily honor contractual or regulatory obligations, or compensate for monetary losses related to nonperformance. These performance bonds and other performance-related guarantees were $154 million at September 30, 2023. Indemnifications Periodically, we enter into various contractual arrangements where we agree to indemnify a third-party against certain types of losses. Common types of indemnities include: • product liability and license, patent or trademark indemnifications; • asset sale agreements where we agree to indemnify the purchaser against future environmental exposures related to the asset sold; and • any contractual agreement where we agree to indemnify the counterparty for losses suffered as a result of a misrepresentation in the contract. We regularly evaluate the probability of having to incur costs associated with these indemnities and accrue for expected losses that are probable. Because the indemnifications are not related to specified known liabilities and due to their uncertain nature, we are unable to estimate the maximum amount of the potential loss associated with these indemnifications.

ACCUMULATED OTHER COMPREHENSIVE

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)	9 Months Ended
	Sep. 30, 2023
Equity [Abstract]
ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)	NOTE 12. ACCUMULATED OTHER COMPREHENSIVE LOSS Following are the changes in accumulated other comprehensive income (loss) by component for the three months ended: In millions Change in pension and OPEB plans Foreign currency Unrealized gain Total Noncontrolling Total Balance at June 30, 2023 $ (434) $ (1,581) $ 98 $ (1,917) Other comprehensive income (loss) before reclassifications Before-tax amount 1 (154) 34 (119) $ (7) $ (126) Tax expense — (2) (9) (11) — (11) After-tax amount 1 (156) 25 (130) (7) (137) Amounts reclassified from accumulated other comprehensive income (loss) (1) 2 — (6) (4) — (4) Net current period other comprehensive income (loss) 3 (156) 19 (134) $ (7) $ (141) Balance at September 30, 2023 $ (431) $ (1,737) $ 117 $ (2,051) Balance at June 30, 2022 $ (324) $ (1,426) $ 54 $ (1,696) Other comprehensive income (loss) before reclassifications Before-tax amount — (365) 51 (314) $ (15) $ (329) Tax benefit (expense) — 1 (13) (12) — (12) After-tax amount — (364) 38 (326) (15) (341) Amounts reclassified from accumulated other comprehensive income (1) 6 — 3 9 — 9 Net current period other comprehensive income (loss) 6 (364) 41 (317) $ (15) $ (332) Balance at September 30, 2022 $ (318) $ (1,790) $ 95 $ (2,013) (1) Amounts are net of tax. Reclassifications out of accumulated other comprehensive income (loss) and the related tax effects are immaterial for separate disclosure. Following are the changes in accumulated other comprehensive income (loss) by component for the nine months ended: In millions Change in pension and OPEB plans Foreign currency Unrealized gain (loss) on derivatives Total Noncontrolling Total Balance at December 31, 2022 $ (427) $ (1,552) $ 89 $ (1,890) Other comprehensive income (loss) before reclassifications Before-tax amount (12) (190) 49 (153) $ (6) $ (159) Tax benefit (expense) 2 5 (10) (3) — (3) After-tax amount (10) (185) 39 (156) (6) (162) Amounts reclassified from accumulated other comprehensive income (loss) (1) 6 — (11) (5) — (5) Net current period other comprehensive (loss) income (4) (185) 28 (161) $ (6) $ (167) Balance at September 30, 2023 $ (431) $ (1,737) $ 117 $ (2,051) Balance at December 31, 2021 $ (346) $ (1,208) $ (17) $ (1,571) Other comprehensive income (loss) before reclassifications Before-tax amount 14 (589) 146 (429) $ (38) $ (467) Tax (expense) benefit (3) 7 (35) (31) — (31) After-tax amount 11 (582) 111 (460) (38) (498) Amounts reclassified from accumulated other comprehensive income (1) 17 — 1 18 — 18 Net current period other comprehensive income (loss) 28 (582) 112 (442) $ (38) $ (480) Balance at September 30, 2022 $ (318) $ (1,790) $ 95 $ (2,013) (1) Amounts are net of tax. Reclassifications out of accumulated other comprehensive income (loss) and the related tax effects are immaterial for separate disclosure.

DERIVATIVES

DERIVATIVES	9 Months Ended
	Sep. 30, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Instruments and Hedging Activities Disclosure	NOTE 13. DERIVATIVES We are exposed to financial risk resulting from volatility in foreign exchange rates, interest rates and commodity prices. This risk is closely monitored and managed through the use of physical forward contracts (which are not considered derivatives) and financial derivative instruments including foreign currency forward contracts, commodity swap contracts and interest rate swaps and locks. Financial derivatives are used expressly for hedging purposes and under no circumstances are they used for speculative purposes. When material, we adjust the estimated fair value of our derivative contracts for counterparty or our credit risk. None of our derivative instruments are subject to collateral requirements. Substantially all of our derivative contracts are subject to master netting arrangements, which provide us with the option to settle certain contracts on a net basis when they settle on the same day with the same currency. In addition, these arrangements provide for a net settlement of all contracts with a given counterparty in the event that the arrangement is terminated due to the occurrence of default or a termination event. Foreign Currency Exchange Rate Risk We had foreign currency forward contracts with notional amounts of $4.7 billion and $3.6 billion at September 30, 2023, and December 31, 2022, respectively. The following currencies comprise 87 percent and 88 percent of outstanding foreign currency forward contracts at September 30, 2023, and December 31, 2022, respectively: British pound, Chinese renminbi, Canadian dollar, Euro and Australian dollar. We are further exposed to foreign currency exchange risk as many of our subsidiaries are subject to fluctuations as the functional currencies of the underlying entities are not our U.S. dollar reporting currency. To help minimize movements for certain investments, in the third quarter of 2022 we began entering into foreign exchange forwards designated as net investment hedges for certain of our investments. Under the current terms of our foreign exchange forwards, we agreed with third parties to sell British pound in exchange for U.S. dollar currency at a specified rate at the maturity of the contract. The notional amount of these hedges at September 30, 2023, was $776 million. The following table summarizes the net investment hedge activity in accumulated other comprehensive loss (AOCL): Three months ended Nine months ended September 30, September 30, In millions 2023 2022 2023 2022 Type of Derivative Gain (Loss) Gain (Loss) Reclassified from AOCL into Earnings Gain (Loss) Gain (Loss) Reclassified from AOCL into Earnings Gain (Loss) Gain (Loss) Reclassified from AOCL into Earnings Gain (Loss) Gain (Loss) Reclassified from AOCL into Earnings Foreign exchange forwards $ 22 $ — $ 29 $ — $ (6) $ — $ 29 $ — Interest Rate Risk In September 2023, we entered into a series of interest rate swaps with a total notional value of $500 million in order to trade a portion of the floating rate into a fixed rate on our term loan, due in 2025. The maturity date of the interest rate swaps is August 1, 2025. The weighted-average interest rate of the interest rate swaps is 5.72 percent. We designated the swaps as cash flow hedges. The gains and losses on these derivative instruments are initially recorded in other comprehensive income and reclassified into earnings as interest expense in the Condensed Consolidated Financial Statements as each interest payment is accrued. The interest rate swap activity in AOCL was immaterial for the three and nine months ended September 30, 2023. In 2021, we entered into a series of interest rate swaps to effectively convert our $500 million senior notes, due in 2025, from a fixed rate of 0.75 percent to a floating rate equal to the three-month LIBOR plus a spread. We also entered into a series of interest rate swaps to effectively convert $765 million of our $850 million senior notes, due in 2030, from a fixed rate of 1.50 percent to a floating rate equal to the three-month LIBOR plus a spread. The fallback protocol in our derivative agreements allowed for a transition from LIBOR to SOFR in the third quarter of 2023. We designated the swaps as fair value hedges. The gain or loss on these derivative instruments, as well as the offsetting gain or loss on the hedged item attributable to the hedged risk, are recognized in current income as interest expense. The net swap settlements that accrue each period are also reported in the Condensed Consolidated Financial Statements as interest expense. In March 2023, we settled a portion of our 2021 interest rate swaps with a notional amount of $100 million. The $7 million loss on settlement will be amortized over the remaining term of the related debt. The following table summarizes the gains and losses: Three months ended Nine months ended September 30, September 30, In millions 2023 2022 2023 2022 Type of Swap Gain (Loss) Gain (Loss) on Borrowings Gain (Loss) Gain (Loss) on Borrowings Gain (Loss) Gain (Loss) on Borrowings Gain (Loss) Gain (Loss) on Borrowings Interest rate swaps (1) $ (17) $ 19 $ (47) $ 45 $ (10) $ 13 $ (158) $ 159 (1) The difference between the gain (loss) on swaps and borrowings represents hedge ineffectiveness. In 2019, we entered into $350 million of interest rate lock agreements, and in 2020 we entered into an additional $150 million of lock agreements to reduce the variability of the cash flows of the interest payments on a total of $500 million of fixed rate debt forecast to be issued in 2023 to replace our senior notes at maturity. The terms of the rate locks mirror the time period of the expected fixed rate debt issuance and the expected timing of interest payments on that debt. The gains and losses on these derivative instruments are initially recorded in other comprehensive income and will be released to earnings in interest expense in future periods to reflect the difference in (1) the fixed rates economically locked in at the inception of the hedge and (2) the actual fixed rates established in the debt instrument at issuance. In December 2022, we settled certain rate lock agreements with notional amounts totaling $150 million for $49 million. In February 2023, we settled certain rate lock agreements with notional amounts totaling $100 million for $34 million. In August 2023, we settled all remaining rate lock agreements with notional amounts totaling $250 million for $67 million. The $150 million of gains on settlements will remain in other comprehensive income and will be amortized over the term of the anticipated new debt. The following table summarizes the interest rate lock activity in AOCL: Three months ended Nine months ended September 30, September 30, In millions 2023 2022 2023 2022 Type of Swap Gain (Loss) Gain (Loss) Reclassified from AOCL into Interest Expense Gain (Loss) Gain (Loss) Reclassified from AOCL into Interest Expense Gain (Loss) Gain (Loss) Reclassified from AOCL into Interest Expense Gain (Loss) Gain (Loss) Reclassified from AOCL into Interest Expense Interest rate locks $ 15 $ — $ 21 $ — $ 16 $ — $ 103 $ — Cash Flow Hedging The following table summarizes the effect on our Condensed Consolidated Statements of Net Income for derivative instruments classified as cash flow hedges. The table does not include amounts related to ineffectiveness as it was not material for the periods presented. Three months ended Nine months ended September 30, September 30, In millions 2023 2022 2023 2022 Gain (loss) reclassified from AOCL into income - Net sales (1) $ 7 $ (4) $ 12 $ (2) Gain reclassified from AOCL into income - Cost of sales (1)(2) 1 1 2 — (1) Includes foreign currency forward contracts. (2) Includes commodity swap contracts. Derivatives Not Designated as Hedging Instruments The following table summarizes the effect on our Condensed Consolidated Statements of Net Income for derivative instruments not designated as hedging instruments: Three months ended Nine months ended September 30, September 30, In millions 2023 2022 2023 2022 Gain (loss) recognized in income - Cost of sales (1) $ 1 $ 5 $ (2) $ 7 Loss recognized in income - Other income (expense), net (1) (60) (84) (77) (107) (1) Includes foreign currency forward contracts. Fair Value Amount and Location of Derivative Instruments The following table summarizes the location and fair value of derivative instruments on our Condensed Consolidated Balance Sheets : Derivatives Designated as Hedging Instruments Derivatives Not Designated as Hedging Instruments In millions September 30, December 31, September 30, December 31, Notional amount $ 2,824 $ 3,051 $ 3,968 $ 2,900 Derivative assets Prepaid expenses and other current assets $ 42 $ 18 $ 5 $ 27 Other assets — 80 — — Total derivative assets (1) $ 42 $ 98 $ 5 $ 27 Derivative liabilities Other accrued expenses $ 5 $ 19 $ 21 $ 3 Other liabilities 155 151 — — Total derivative liabilities (1) $ 160 $ 170 $ 21 $ 3 (1) Estimates of the fair value of all derivative assets and liabilities above are derived from Level 2 inputs, which are estimated using actively quoted prices for similar instruments from brokers and observable inputs where available, including market transactions and third-party pricing services, or net asset values provided to investors. We do not currently have any Level 3 input measures and there were no transfers into or out of Level 2 or 3 during the nine months ended September 30, 2023, or the year ended December 31, 2022. We elected to present our derivative contracts on a gross basis in our Condensed Consolidated Balance Sheets . Had we chosen to present on a net basis, we would have derivatives in a net asset position of $9 million and $52 million and derivatives in a net liability position of $143 million and $100 million at September 30, 2023, and December 31, 2022, respectively.

RUSSIAN OPERATIONS

RUSSIAN OPERATIONS	9 Months Ended
	Sep. 30, 2023
Restructuring and Related Activities [Abstract]
Restructuring, Impairment, and Other Activities Disclosure	NOTE 14. RUSSIAN OPERATIONS On March 17, 2022, the Board indefinitely suspended our operations in Russia due to the ongoing conflict in Ukraine. At the time of suspension, our Russian operations included a wholly-owned distributor in Russia, an unconsolidated joint venture with KAMAZ (a Russian truck manufacturer) and direct sales into Russia from our other business segments. As a result of the indefinite suspension of operations, we evaluated the recoverability of assets in Russia and assessed other potential liabilities. We experienced an inability to collect customer receivables and may be the subject of litigation as a consequence of our indefinite suspension of commercial operations in Russia. The following summarizes the costs (recoveries) associated with the suspension of our Russian operations in our Condensed Consolidated Statements of Net Income: Three months ended Nine months ended In millions September 30, September 30, Statement of Net Income Location Inventory write-downs $ (2) $ 17 Cost of sales Accounts receivable reserves (1) 42 Other operating expense, net Impairment and other joint venture costs — 31 Equity, royalty and interest income from investees Other 4 22 Other operating expense, net Total $ 1 $ 112 For the three and nine months ended September 30, 2023, there were no material additional costs. We will continue to evaluate the situation as conditions evolve and may take additional actions as deemed necessary in future periods.

FORMATION OF ATMUS AND IPO

FORMATION OF ATMUS AND IPO	9 Months Ended
	Sep. 30, 2023
Business Acquisition [Line Items]
Mergers, Acquisitions and Dispositions Disclosures	NOTE 16. ACQUISITIONS Acquisitions for the nine months ended September 30, 2023 and 2022, were as follows: Entity Acquired (Dollars in millions) Date of Acquisition Additional Percent Interest Acquired Payments to Former Owners Acquisition Related Debt Retirements Total Purchase Consideration Type of Acquisition (1) Goodwill Acquired Intangibles Recognized (2) 2023 Hydrogenics Corporation (Hydrogenics) 06/29/23 19% $ 287 $ 48 $ 335 (3) EQUITY $ — $ — Teksid Hierro de Mexico, S.A. de C.V. (Teksid MX) 04/03/23 100% 143 — 143 (4) COMB 18 — 2022 (5) Meritor, Inc. (Meritor) 08/03/22 100% $ 2,613 $ 248 $ 2,861 COMB $ 926 $ 1,610 Jacobs Vehicle Systems (Jacobs) 04/08/22 100% 345 — 345 COMB 108 164 Cummins Westport, Inc. (Westport JV) 02/07/22 50% 42 — 42 COMB — 20 (1) All results from acquired entities were included in segment results subsequent to the acquisition date. Previously consolidated entities were accounted for as equity transactions (EQUITY). Newly consolidated entities were accounted for as business combinations (COMB). (2) Intangible assets acquired in the business combination were mostly customer, technology and trade name related. (3) Hydrogenics entered into three non-interest-bearing promissory notes with $175 million paid on July 31, 2023, and the remaining $160 million due in three installments through 2025. (4) Total purchase consideration included $32 million for the settlement of accounts payable. (5) See N OTE 2, "ACQUISITIONS," of the Notes to the Consolidated Financial Statements of our 2022 Form 10-K for additional information on prior year acquisitions. Hydrogenics Corporation - Redeemable Noncontrolling Interest On June 29, 2023, a share purchase agreement was executed with a 19 percent minority shareholder in one of our businesses, Hydrogenics Corporation (Hydrogenics), whereby we agreed to pay the minority shareholder $335 million for their 19 percent ownership, including the settlement of shareholder loans of $48 million. As part of the share purchase agreement, Hydrogenics entered into three non-interest-bearing promissory notes with $175 million paid on July 31, 2023, and the remaining $160 million due in three installments through 2025. We recorded the non-interest-bearing promissory notes at their present value in our Condensed Consolidated Financial Statements. The long-term amount, net of unamortized debt discount, was $145 million and reflected in long-term debt at September 30, 2023. Prior to the execution of this transaction, the minority shareholder had, among other rights and subject to related obligations and restrictive covenants, rights that were exercisable between September 2022 and September 2026 to require us to (1) purchase such shareholder's shares (put option) at an amount up to the fair market value (calculated pursuant to a process outlined in the shareholders' agreement) and (2) sell to such shareholder Hydrogenics' electrolyzer business at an amount up to the fair market value of the electrolyzer business (calculated pursuant to a process outlined in the shareholders’ agreement). The estimated fair value of the put option was recorded as redeemable noncontrolling interests in our Condensed Consolidated Financial Statements with an offset to additional paid-in capital, and at December 31, 2022, the balance was $258 million. The redeemable noncontrolling interest balance was reduced to zero as of the acquisition date. Teksid Hierro de Mexico, S.A. de C.V. On April 3, 2023, we purchased all of the equity ownership interest of Teksid Hierro de Mexico, S.A. de C.V. (Teksid MX) and Teksid, Inc. from Stellantis N.V. for approximately $143 million (including $32 million for the settlement of accounts payable), subject to certain adjustments set forth in the agreement. Teksid MX operates a cast iron foundry located in Monclova, Mexico, which primarily forges blocks and heads used in our and other manufacturers’ engines. Teksid, Inc. facilitates the commercialization of Teksid MX products in North America. Since we are the primary customer of the foundry, the acquisition is not expected to result in material incremental sales to our business. Approximately $90 million of the purchase price was allocated to property, plant and equipment. The remainder was allocated primarily to working capital assets and liabilities (including approximately $16 million of cash and cash equivalents) and resulted in approximately $18 million of goodwill, none of which is deductible for tax purposes. In the third quarter we finalized the purchase price and made certain other adjustments, which resulted in a $7 million decrease in goodwill. The values assigned to individual assets acquired and liabilities assumed are preliminary based on management’s current best estimate and subject to change as certain matters are finalized. The primary areas that remain open are related to deferred taxes and other tax contingencies. The results of the business were reported in our Engine segment. Pro forma financial information for the acquisition was not presented as the effects are not material to our Condensed Consolidated Financial Statements. Meritor, Inc. During the second quarter of 2023, we finalized our accounting for the Meritor, Inc. acquisition. The primary components of the change were to increase contingent liabilities by $62 million offset by finalization of deferred taxes and tax reserves, with a net increase to goodwill of $26 million. There was no impact to the Condensed Consolidated Statements of Net Income for any of the changes. The following table presents the supplemental consolidated results of the Company for the three and nine months ended September 30, 2022, on an unaudited pro-forma basis as if the acquisition had been consummated on January 1, 2021. The primary adjustments reflected in the pro-forma results related to (1) increase in interest expense for debt used to fund the acquisition, (2) removal of acquisition related costs from 2022 and (3) changes related to purchase accounting primarily related to amortization of intangibles, fixed assets and joint ventures. The unaudited pro forma financial information presented below does not purport to represent the actual results of operations that Cummins and Meritor would have achieved had the companies been combined during the periods presented and was not intended to project the future results of operations that the combined company could achieve after the acquisition. The unaudited pro forma financial information does not reflect any potential cost savings, operating efficiencies, long-term debt pay down estimates, financial synergies or other strategic benefits as a result of the acquisition or any restructuring costs to achieve those benefits. (Unaudited) Three months ended Nine months ended In millions September 30, September 30, Net sales $ 7,734 $ 23,071 Net income 397 1,565
Atmus Filtration Technologies Inc.
Business Acquisition [Line Items]
Mergers, Acquisitions and Dispositions Disclosures	NOTE 15. FORMATION OF ATMUS AND IPO On May 23, 2023, in connection with the Atmus IPO, Cummins issued approximately $350 million of commercial paper with certain lenders. On May 26, 2023, Atmus shares began trading on the New York Stock Exchange under the symbol "ATMU." The IPO was completed on May 30, 2023, whereby Cummins exchanged 19.5 percent (approximately 16 million shares) of its ownership in Atmus, at $19.50 per share, to retire $299 million of the commercial paper as proceeds from the offering through a non-cash transaction. In connection with the completion of the IPO, through a series of asset and equity contributions, we transferred the filtration business to Atmus. In exchange, Atmus transferred consideration of $650 million to Cummins, which consisted primarily of the net proceeds from a term loan facility and revolver executed by Atmus during May 2023. The commercial paper issued and retired through the IPO proceeds, coupled with the $650 million received, is intended to be used for the retirement of our historical debt, dividends and share repurchases. The difference between the commercial paper retired from the IPO, other IPO related fees and the net book value of our divested interest was $285 million and was recorded as an offset to additional paid-in capital. Of our consolidated cash and cash equivalents at September 30, 2023, $130 million is retained by Atmus for its working capital purposes. See NOTE 9 , " DEBT ," to our Condensed Consolidated Financial Statements for additional information. We will continue to consolidate the financial position and results of Atmus, so long as we retain control. The earnings attributable to the divested, noncontrolling interest for the three and nine months ended September 30, 2023, were $7 million and $10 million, respectively. At September 30, 2023, the noncontrolling interest associated with Atmus is reflected in noncontrolling interests in our Condensed Consolidated Balance Sheets. Subject to market conditions, we intend to make a tax-free split-off of Atmus, pursuant to which Cummins will offer its stockholders the option to exchange their shares of Cummins common stock for shares of Atmus common stock in an exchange offer.

ACQUISITIONS

ACQUISITIONS	9 Months Ended
	Sep. 30, 2023
Business Combinations [Abstract]
Mergers, Acquisitions and Dispositions Disclosures	NOTE 16. ACQUISITIONS Acquisitions for the nine months ended September 30, 2023 and 2022, were as follows: Entity Acquired (Dollars in millions) Date of Acquisition Additional Percent Interest Acquired Payments to Former Owners Acquisition Related Debt Retirements Total Purchase Consideration Type of Acquisition (1) Goodwill Acquired Intangibles Recognized (2) 2023 Hydrogenics Corporation (Hydrogenics) 06/29/23 19% $ 287 $ 48 $ 335 (3) EQUITY $ — $ — Teksid Hierro de Mexico, S.A. de C.V. (Teksid MX) 04/03/23 100% 143 — 143 (4) COMB 18 — 2022 (5) Meritor, Inc. (Meritor) 08/03/22 100% $ 2,613 $ 248 $ 2,861 COMB $ 926 $ 1,610 Jacobs Vehicle Systems (Jacobs) 04/08/22 100% 345 — 345 COMB 108 164 Cummins Westport, Inc. (Westport JV) 02/07/22 50% 42 — 42 COMB — 20 (1) All results from acquired entities were included in segment results subsequent to the acquisition date. Previously consolidated entities were accounted for as equity transactions (EQUITY). Newly consolidated entities were accounted for as business combinations (COMB). (2) Intangible assets acquired in the business combination were mostly customer, technology and trade name related. (3) Hydrogenics entered into three non-interest-bearing promissory notes with $175 million paid on July 31, 2023, and the remaining $160 million due in three installments through 2025. (4) Total purchase consideration included $32 million for the settlement of accounts payable. (5) See N OTE 2, "ACQUISITIONS," of the Notes to the Consolidated Financial Statements of our 2022 Form 10-K for additional information on prior year acquisitions. Hydrogenics Corporation - Redeemable Noncontrolling Interest On June 29, 2023, a share purchase agreement was executed with a 19 percent minority shareholder in one of our businesses, Hydrogenics Corporation (Hydrogenics), whereby we agreed to pay the minority shareholder $335 million for their 19 percent ownership, including the settlement of shareholder loans of $48 million. As part of the share purchase agreement, Hydrogenics entered into three non-interest-bearing promissory notes with $175 million paid on July 31, 2023, and the remaining $160 million due in three installments through 2025. We recorded the non-interest-bearing promissory notes at their present value in our Condensed Consolidated Financial Statements. The long-term amount, net of unamortized debt discount, was $145 million and reflected in long-term debt at September 30, 2023. Prior to the execution of this transaction, the minority shareholder had, among other rights and subject to related obligations and restrictive covenants, rights that were exercisable between September 2022 and September 2026 to require us to (1) purchase such shareholder's shares (put option) at an amount up to the fair market value (calculated pursuant to a process outlined in the shareholders' agreement) and (2) sell to such shareholder Hydrogenics' electrolyzer business at an amount up to the fair market value of the electrolyzer business (calculated pursuant to a process outlined in the shareholders’ agreement). The estimated fair value of the put option was recorded as redeemable noncontrolling interests in our Condensed Consolidated Financial Statements with an offset to additional paid-in capital, and at December 31, 2022, the balance was $258 million. The redeemable noncontrolling interest balance was reduced to zero as of the acquisition date. Teksid Hierro de Mexico, S.A. de C.V. On April 3, 2023, we purchased all of the equity ownership interest of Teksid Hierro de Mexico, S.A. de C.V. (Teksid MX) and Teksid, Inc. from Stellantis N.V. for approximately $143 million (including $32 million for the settlement of accounts payable), subject to certain adjustments set forth in the agreement. Teksid MX operates a cast iron foundry located in Monclova, Mexico, which primarily forges blocks and heads used in our and other manufacturers’ engines. Teksid, Inc. facilitates the commercialization of Teksid MX products in North America. Since we are the primary customer of the foundry, the acquisition is not expected to result in material incremental sales to our business. Approximately $90 million of the purchase price was allocated to property, plant and equipment. The remainder was allocated primarily to working capital assets and liabilities (including approximately $16 million of cash and cash equivalents) and resulted in approximately $18 million of goodwill, none of which is deductible for tax purposes. In the third quarter we finalized the purchase price and made certain other adjustments, which resulted in a $7 million decrease in goodwill. The values assigned to individual assets acquired and liabilities assumed are preliminary based on management’s current best estimate and subject to change as certain matters are finalized. The primary areas that remain open are related to deferred taxes and other tax contingencies. The results of the business were reported in our Engine segment. Pro forma financial information for the acquisition was not presented as the effects are not material to our Condensed Consolidated Financial Statements. Meritor, Inc. During the second quarter of 2023, we finalized our accounting for the Meritor, Inc. acquisition. The primary components of the change were to increase contingent liabilities by $62 million offset by finalization of deferred taxes and tax reserves, with a net increase to goodwill of $26 million. There was no impact to the Condensed Consolidated Statements of Net Income for any of the changes. The following table presents the supplemental consolidated results of the Company for the three and nine months ended September 30, 2022, on an unaudited pro-forma basis as if the acquisition had been consummated on January 1, 2021. The primary adjustments reflected in the pro-forma results related to (1) increase in interest expense for debt used to fund the acquisition, (2) removal of acquisition related costs from 2022 and (3) changes related to purchase accounting primarily related to amortization of intangibles, fixed assets and joint ventures. The unaudited pro forma financial information presented below does not purport to represent the actual results of operations that Cummins and Meritor would have achieved had the companies been combined during the periods presented and was not intended to project the future results of operations that the combined company could achieve after the acquisition. The unaudited pro forma financial information does not reflect any potential cost savings, operating efficiencies, long-term debt pay down estimates, financial synergies or other strategic benefits as a result of the acquisition or any restructuring costs to achieve those benefits. (Unaudited) Three months ended Nine months ended In millions September 30, September 30, Net sales $ 7,734 $ 23,071 Net income 397 1,565

OPERATING SEGMENTS

OPERATING SEGMENTS	9 Months Ended
	Sep. 30, 2023
Segment Reporting [Abstract]
OPERATING SEGMENTS	NOTE 17. OPERATING SEGMENTS Operating segments under GAAP are defined as components of an enterprise about which separate financial information is available that is evaluated regularly by the Chief Operating Decision Maker (CODM), or decision-making group, in deciding how to allocate resources and in assessing performance. Our CODM is the Chief Executive Officer. Our reportable operating segments consist of Components, Engine, Distribution, Power Systems and Accelera. This reporting structure is organized according to the products and markets each segment serves. The Components segment sells filtration products, aftertreatment systems, turbochargers, electronics, fuel systems, automated transmissions, axles, drivelines, brakes and suspension systems. The Engine segment produces engines (15 liters and smaller) and associated parts for sale to customers in on-highway and various off-highway markets. Our engines are used in trucks of all sizes, buses and recreational vehicles, as well as in various industrial applications, including construction, agriculture, power generation systems and other off-highway applications. The Distribution segment includes wholly-owned and partially-owned distributorships engaged in wholesaling engines, generator sets and service parts, as well as performing service and repair activities on our products and maintaining relationships with various OEMs throughout the world. The Power Systems segment is an integrated power provider, which designs, manufactures and sells engines (16 liters and larger) for industrial applications (including mining, oil and gas, marine and rail), standby and prime power generator sets, alternators and other power components. The Accelera segment designs, manufactures, sells and supports hydrogen production technologies as well as electrified power systems with innovative components and subsystems, including battery, fuel cell and electric powertrain technologies. The Accelera segment is currently in the early stages of commercializing these technologies with efforts primarily focused on the development of our electrolyzers for hydrogen production and electrified power systems and related components and subsystems. We continue to serve all our markets as they adopt electrification and alternative power technologies, meeting the needs of our OEM partners and end customers. We use segment earnings or losses before interest expense, income taxes, depreciation and amortization and noncontrolling interests (EBITDA) as the basis for the CODM to evaluate the performance of each of our reportable operating segments. We believe EBITDA is a useful measure of our operating performance as it assists investors and debt holders in comparing our performance on a consistent basis without regard to financing methods, capital structure, income taxes or depreciation and amortization methods, which can vary significantly depending upon many factors. Segment amounts exclude certain expenses not specifically identifiable to segments. The accounting policies of our operating segments are the same as those applied in our Condensed Consolidated Financial Statements. We prepared the financial results of our operating segments on a basis that is consistent with the manner in which we internally disaggregate financial information to assist in making internal operating decisions. We allocate certain common costs and expenses, primarily corporate functions, among segments differently than we would for stand-alone financial information prepared in accordance with GAAP. These include certain costs and expenses of shared services, such as information technology, human resources, legal, finance and supply chain management. We do not allocate gains or losses of corporate owned life insurance and certain Atmus separation costs to individual segments. EBITDA may not be consistent with measures used by other companies. As previously announced, in March 2023, we rebranded our New Power segment as "Accelera" to better represent our commitment to zero-emission technologies. In addition, we moved our NPROXX joint venture from the Accelera segment to the Engine segment, which adjusted both the equity, royalty and interest income from investees and segment EBITDA line items for the current and prior year. We started to report results for the changes within our operating segments effective January 1, 2023, and reflected these changes in the historical periods presented. Summarized financial information regarding our reportable operating segments for the three and nine months ended September 30, 2023 and 2022 is shown in the table below: In millions Components Engine Distribution Power Systems Accelera Total Segments Three months ended September 30, 2023 External sales $ 2,780 $ 2,236 $ 2,519 $ 798 $ 98 $ 8,431 Intersegment sales 456 695 16 646 5 1,818 Total sales 3,236 2,931 2,535 1,444 103 10,249 Research, development and engineering expenses 93 159 14 60 50 376 Equity, royalty and interest income (loss) from investees 26 62 22 11 (3) 118 Interest income 8 4 9 3 — 24 Segment EBITDA 441 (1) 395 306 234 (114) 1,262 Depreciation and amortization (2) 120 59 28 30 18 255 Three months ended September 30, 2022 External sales $ 2,220 $ 2,063 $ 2,232 $ 773 $ 45 $ 7,333 Intersegment sales 483 716 7 576 5 1,787 Total sales 2,703 2,779 2,239 1,349 50 9,120 Research, development and engineering expenses 87 140 13 62 46 348 Equity, royalty and interest income (loss) from investees 17 27 20 10 (4) 70 Interest income 4 3 4 3 — 14 Russian suspension costs (3) 1 — — — — 1 Segment EBITDA 297 (4) 362 225 193 (95) 982 Depreciation and amortization (2) 95 51 29 30 10 215 Nine months ended September 30, 2023 External sales $ 8,747 $ 6,751 $ 7,494 $ 2,271 $ 259 $ 25,522 Intersegment sales 1,471 2,154 42 1,973 14 5,654 Total sales 10,218 8,905 7,536 4,244 273 31,176 Research, development and engineering expenses 287 441 43 189 150 1,110 Equity, royalty and interest income (loss) from investees 71 198 70 42 (11) 370 Interest income 21 14 24 7 1 67 Segment EBITDA 1,434 (1) 1,277 940 654 (322) 3,983 Depreciation and amortization (2) 368 166 84 91 47 756 Nine months ended September 30, 2022 External sales $ 5,214 $ 6,204 $ 6,590 $ 2,190 $ 106 $ 20,304 Intersegment sales 1,427 2,103 19 1,522 17 5,088 Total sales 6,641 8,307 6,609 3,712 123 25,392 Research, development and engineering expenses 236 365 39 184 121 945 Equity, royalty and interest income (loss) from investees 54 127 (5) 57 31 (8) 261 Interest income 7 8 9 5 — 29 Russian suspension costs (3) 5 33 (6) 55 19 — 112 Segment EBITDA 969 (4) 1,173 632 411 (239) 2,946 Depreciation and amortization (2) 187 151 86 92 25 541 (1) Includes $20 million and $50 million of costs associated with the IPO and separation of Atmus for the three and nine months ended September 30, 2023, respectively. See NOTE 15, "FORMATION OF ATMUS AND IPO," to our Condensed Consolidated Financial Statements for additional information. (2) Depreciation and amortization, as shown on a segment basis, excludes the amortization of debt discount and deferred costs included in the Condensed Consolidated Statements of Net Income as interest expense. The amortization of debt discount and deferred costs was $4 million and $3 million for the nine months ended September 30, 2023 and September 30, 2022, respectively. A portion of depreciation expense is included in research, development and engineering expenses. (3) See NOTE 14, "RUSSIAN OPERATIONS," to our Condensed Consolidated Financial Statements for additional information. (4) Includes $45 million and $56 million of costs related to the acquisition and integration of Meritor and $10 million and $15 million of costs associated with the separation of Atmus for three and nine months ended September 30, 2022, respectively. See NOTE 15, "FORMATION OF ATMUS AND IPO," and NOTE 16 "ACQUISITIONS," to our Condensed Consolidated Financial Statements for additional information. (5) Includes a $28 million impairment of our joint venture with KAMAZ and $3 million of royalty charges as part of our costs associated with the indefinite suspension of our Russian operations. See NOTE 14, "RUSSIAN OPERATIONS," to our Condensed Consolidated Financial Statements for additional information. (6) Includes $31 million of Russian suspension costs reflected in the equity, royalty and interest income (loss) from investees line above. A reconciliation of our segment information to the corresponding amounts in the Condensed Consolidated Statements of Net Income is shown in the table below: Three months ended Nine months ended September 30, September 30, In millions 2023 2022 2023 2022 TOTAL SEGMENT EBITDA $ 1,262 $ 982 $ 3,983 $ 2,946 Intersegment eliminations and other (1) (32) (98) (88) (252) Less: Interest expense 97 61 283 112 Depreciation and amortization 255 215 756 541 INCOME BEFORE INCOME TAXES $ 878 $ 608 $ 2,856 $ 2,041 (1) Intersegment eliminations and other included $6 million and $17 million of costs associated with the IPO and separation of Atmus for the three and nine month periods ended September 30, 2023, respectively and $6 million and $47 million for the comparable periods in 2022, respectively. See NOTE 15, "FORMATION OF ATMUS AND IPO," to our Condensed Consolidated Financial Statements for additional information.

RECENTLY ADOPTED AND RECENTLY I

RECENTLY ADOPTED AND RECENTLY ISSUED ACCOUNTING PRONOUNCEMENTS	9 Months Ended
	Sep. 30, 2023
Accounting Standards Update and Change in Accounting Principle [Abstract]
RECENTLY ADOPTED ACCOUNTING PRONOUNCEMENTS	NOTE 18. RECENTLY ADOPTED ACCOUNTING PRONOUNCEMENTS In September 2022, the Financial Accounting Standards Board issued a standard related to the disclosure of additional information about the use of supplier finance programs. Under the new standard, entities are required to disclose (1) key terms of the programs, (2) the amount outstanding that remains unpaid as of the end of the period, including where amounts are recorded in the balance sheets and (3) an annual rollforward of those obligations, including the amount of obligations confirmed and the amount of obligations subsequently paid. We adopted the new standard on January 1, 2023, on a retrospective basis other than the rollforward, which we currently plan to early adopt on a prospective basis beginning with our 2023 annual financial statements. The adoption did not have a material impact on our financial statements. See "Supply Chain Financing" section in NOTE 1, "NATURE OF OPERATIONS AND BASIS OF PRESENTATION," for additional information.

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	9 Months Ended
	Sep. 30, 2023
Subsequent Events [Abstract]
Subsequent Events	NOTE 19. SUBSEQUENT EVENTS On October 2, 2023, we purchased from the Forvia Group all of the equity ownership of Faurecia's U.S. and Europe commercial vehicle exhaust business for approximately €199 million, subject to certain adjustments set forth in the agreement. This business provides canning and assembly operations for full exhaust systems primarily for the on-highway applications. This acquisition will be included in our Components segment starting in the fourth quarter of 2023. Due to the timing of the acquisition, the initial purchase accounting is not yet complete and will be included in the fourth quarter Form 10-K filing. On October 2, 2023, we repaid our $500 million senior notes, due 2023, using a combination of cash on hand and additional commercial paper borrowings. On October 31, 2023, we repaid $150 million of our term loan, due 2025, using cash on hand.

NATURE OF OPERATIONS AND BASI_2

NATURE OF OPERATIONS AND BASIS OF PRESENTATION (Tables)	9 Months Ended
	Sep. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Options excluded from diluted earnings per share	The options excluded from diluted earnings per share were as follows: Three months ended Nine months ended September 30, September 30, 2023 2022 2023 2022 Options excluded 7,267 22,307 8,770 25,290
Schedule of Related Party Transactions	The following is a summary of sales to and purchases from nonconsolidated equity investees: Three months ended Nine months ended September 30, September 30, In millions 2023 2022 2023 2022 Sales to nonconsolidated equity investees $ 315 $ 295 $ 1,011 $ 920 Purchases from nonconsolidated equity investees 602 515 1,993 1,270 The following is a summary of accounts receivable from and accounts payable to nonconsolidated equity investees: In millions September 30, December 31, Balance Sheet Location Accounts receivable from nonconsolidated equity investees $ 458 $ 376 Accounts and notes receivable, net Accounts payable to nonconsolidated equity investees 296 292 Accounts payable (principally trade)

REVENUE RECOGNITION LONGTERM CO

REVENUE RECOGNITION LONGTERM CONTRACTS AND DEFERRED AND UNBILLED REVENUE (Tables)	9 Months Ended
	Sep. 30, 2023
Revenue from Contract with Customer [Abstract]
Contract with Customer, Contract Asset, Contract Liability, and Receivable	The following is a summary of our unbilled and deferred revenue and related activity: In millions September 30, December 31, Unbilled revenue $ 296 $ 257 Deferred revenue 2,040 1,848

REVENUE RECOGNITION DISAGGREG_2

REVENUE RECOGNITION DISAGGREGATION OF REVENUES (Tables)	9 Months Ended
	Sep. 30, 2023
Disaggregation of Revenue [Line Items]
Revenue from External Customers by Geographic Areas	The table below presents our consolidated sales by geographic area. Net sales attributed to geographic areas were based on the location of the customer. Three months ended Nine months ended September 30, September 30, In millions 2023 2022 2023 2022 United States (1) $ 4,886 $ 4,226 $ 14,625 $ 11,471 China 721 601 2,273 1,774 India 374 358 1,198 978 Other international (1) 2,450 2,148 7,426 6,081 Total net sales $ 8,431 $ 7,333 $ 25,522 $ 20,304 (1) We revised $110 million from other international to United States for both the three and nine months ended September 30, 2022.
Components
Disaggregation of Revenue [Line Items]
Revenue from External Customers by Products and Services	Components segment external sales by business were as follows: Three months ended Nine months ended September 30, September 30, In millions 2023 2022 2023 2022 Axles and brakes $ 1,177 $ 732 $ 3,698 $ 732 Emission solutions 803 748 2,584 2,323 Atmus 324 322 1,007 949 Engine components 263 239 838 702 Automated transmissions 187 159 545 436 Software and electronics 26 20 75 72 Total sales $ 2,780 $ 2,220 $ 8,747 $ 5,214
Engine
Disaggregation of Revenue [Line Items]
Revenue from External Customers by Market	Engine segment external sales by market were as follows: Three months ended Nine months ended September 30, September 30, In millions 2023 2022 2023 2022 Heavy-duty truck $ 885 $ 751 $ 2,601 $ 2,232 Medium-duty truck and bus 656 583 1,960 1,794 Light-duty automotive 451 465 1,336 1,377 Total on-highway 1,992 1,799 5,897 5,403 Off-highway 244 264 854 801 Total sales $ 2,236 $ 2,063 $ 6,751 $ 6,204
Distribution
Disaggregation of Revenue [Line Items]
Revenue from External Customers by Geographic Areas	Distribution segment external sales by region were as follows: Three months ended Nine months ended September 30, September 30, In millions 2023 2022 2023 2022 North America $ 1,719 $ 1,512 $ 5,195 $ 4,374 Asia Pacific 292 258 796 744 Europe 200 181 607 702 China 110 89 323 270 Africa and Middle East 77 79 219 190 India 66 55 186 155 Latin America 55 58 168 155 Total sales $ 2,519 $ 2,232 $ 7,494 $ 6,590
Revenue from External Customers by Products and Services	Distribution segment external sales by product line were as follows: Three months ended Nine months ended September 30, September 30, In millions 2023 2022 2023 2022 Parts $ 991 $ 942 $ 3,054 $ 2,855 Power generation 601 428 1,701 1,266 Engines 507 449 1,490 1,315 Service 420 413 1,249 1,154 Total sales $ 2,519 $ 2,232 $ 7,494 $ 6,590
Power Systems
Disaggregation of Revenue [Line Items]
Revenue from External Customers by Products and Services	Power Systems segment external sales by product line were as follows: Three months ended Nine months ended September 30, September 30, In millions 2023 2022 2023 2022 Power generation $ 420 $ 425 $ 1,247 $ 1,232 Industrial 263 226 670 627 Generator technologies 115 122 354 331 Total sales $ 798 $ 773 $ 2,271 $ 2,190

PENSION AND OTHER POSTRETIREM_2

PENSION AND OTHER POSTRETIREMENT BENEFITS (Tables)	9 Months Ended
	Sep. 30, 2023
Retirement Benefits [Abstract]
Schedule Benefit Plans Disclosures Cash Contributions	Contributions to these plans were as follows: Three months ended Nine months ended September 30, September 30, In millions 2023 2022 2023 2022 Defined benefit pension contributions $ 8 $ 7 $ 102 $ 46 OPEB payments, net 4 9 13 25 Defined contribution pension plans 29 26 102 82
Components of net periodic pension and other postretirement benefit cost	The components of net periodic pension and OPEB expense (income) under our plans were as follows: Pension U.S. Plans U.K. Plans OPEB Three months ended September 30, In millions 2023 2022 2023 2022 2023 2022 Service cost $ 29 $ 35 $ 4 $ 7 $ — $ — Interest cost 42 27 18 10 2 2 Expected return on plan assets (69) (60) (27) (22) — — Amortization of prior service cost — 1 1 — — — Recognized net actuarial loss (gain) 2 5 — 1 (1) — Net periodic benefit expense (income) $ 4 $ 8 $ (4) $ (4) $ 1 $ 2 Pension U.S. Plans U.K. Plans OPEB Nine months ended September 30, In millions 2023 2022 2023 2022 2023 2022 Service cost $ 87 $ 103 $ 12 $ 23 $ — $ — Interest cost 126 71 53 28 6 4 Expected return on plan assets (207) (164) (79) (62) — — Amortization of prior service cost 1 1 1 — — — Recognized net actuarial loss (gain) 6 17 — 2 (2) — Net periodic benefit expense (income) $ 13 $ 28 $ (13) $ (9) $ 4 $ 4

EQUITY, ROYALTY AND INTEREST _2

EQUITY, ROYALTY AND INTEREST INCOME FROM INVESTEES (Tables)	9 Months Ended
	Sep. 30, 2023
Equity Method Investments and Joint Ventures [Abstract]
Equity, royalty and interest income from investees	Equity, royalty and interest income from investees included in our Condensed Consolidated Statements of Net Income for the reporting periods was as follows: Three months ended Nine months ended September 30, September 30, In millions 2023 2022 2023 2022 Manufacturing entities Dongfeng Cummins Engine Company, Ltd. $ 15 $ 8 $ 52 $ 35 Beijing Foton Cummins Engine Co., Ltd. 8 6 33 34 Chongqing Cummins Engine Company, Ltd. 7 7 29 23 Tata Cummins, Ltd. 6 5 21 19 All other manufacturers 18 11 69 14 (1) Distribution entities Komatsu Cummins Chile, Ltda. 13 13 40 32 All other distributors 3 3 10 8 Cummins share of net income 70 53 254 165 Royalty and interest income 48 17 116 96 Equity, royalty and interest income from investees $ 118 $ 70 $ 370 $ 261 (1) Includes a $28 million impairment of our joint venture with KAMAZ and $3 million of royalty charges as part of our costs associated with the indefinite suspension of our Russian operations. See NOTE 14, "RUSSIAN OPERATIONS," to our Condensed Consolidated Financial Statements for additional information.

MARKETABLE SECURITIES (Tables)

MARKETABLE SECURITIES (Tables)	9 Months Ended
	Sep. 30, 2023
Investments, Debt and Equity Securities [Abstract]
Summary of marketable securities	A summary of marketable securities, all of which were classified as current, was as follows: September 30, December 31, In millions Cost Gross unrealized gains/(losses) (1) Estimated Cost Gross unrealized gains/(losses) (1) Estimated Equity securities Debt mutual funds $ 236 $ (7) $ 229 $ 238 $ (5) $ 233 Certificates of deposit 191 — 191 209 — 209 Equity mutual funds 24 4 28 25 3 28 Debt securities 4 — 4 2 — 2 Marketable securities $ 455 $ (3) $ 452 $ 474 $ (2) $ 472 (1) Unrealized gains and losses for debt securities are recorded in other comprehensive income while unrealized gains and losses for equity securities are recorded in our Condensed Consolidated Statements of Net Income .
Schedule of proceeds from sales and maturities	The proceeds from sales and maturities of marketable securities were as follows: Nine months ended September 30, In millions 2023 2022 Proceeds from sales of marketable securities $ 812 $ 576 Proceeds from maturities of marketable securities 190 243 Investments in marketable securities - liquidations $ 1,002 $ 819

INVENTORIES (Tables)

INVENTORIES (Tables)	9 Months Ended
	Sep. 30, 2023
Inventory Disclosure [Abstract]
Inventories	Inventories included the following: In millions September 30, December 31, Finished products $ 3,168 $ 2,917 Work-in-process and raw materials 2,988 2,926 Inventories at FIFO cost 6,156 5,843 Excess of FIFO over LIFO (250) (240) Inventories $ 5,906 $ 5,603

SUPPLEMENTAL BALANCE SHEET DA_2

SUPPLEMENTAL BALANCE SHEET DATA (Tables)	9 Months Ended
	Sep. 30, 2023
Balance Sheet Related Disclosures [Abstract]
Schedule of Other Assets	Other assets included the following: In millions September 30, December 31, Deferred income taxes $ 865 $ 625 Operating lease assets 500 492 Corporate owned life insurance 383 390 Other 454 633 Other assets $ 2,202 $ 2,140
Accrued Expenses	Other accrued expenses included the following: In millions September 30, December 31, Marketing accruals $ 403 $ 316 Income taxes payable 239 173 Other taxes payable 238 224 Current portion of operating lease liabilities 133 132 Other 693 620 Other accrued expenses $ 1,706 $ 1,465
Other Noncurrent Liabilities	Other liabilities included the following: In millions September 30, December 31, Accrued product warranty (1) $ 806 $ 744 Deferred income taxes 607 649 Pensions 438 445 Operating lease liabilities 373 368 Accrued compensation 192 184 Mark-to-market valuation on interest rate derivatives 155 151 Other postretirement benefits 135 141 Long-term income taxes 120 192 Other long-term liabilities 506 437 Other liabilities $ 3,332 $ 3,311 (1) See NOTE 10, "PRODUCT WARRANTY LIABILITY," to our Condensed Consolidated Financial Statements for additional information.

DEBT (Tables)

DEBT (Tables)	9 Months Ended
	Sep. 30, 2023
Debt Disclosure [Abstract]
Schedule of Short-term Debt	Loans payable, commercial paper and the related weighted-average interest rates were as follows: In millions September 30, December 31, Loans payable (1) $ 231 $ 210 Commercial paper (2) 1,710 2,574 (1) Loans payable consist primarily of notes payable to various domestic and international financial institutions. It is not practicable to aggregate these notes and calculate a quarterly weighted-average interest rate. (2) The weighted-average interest rate, inclusive of all brokerage fees, was 5.48 percent and 4.27 percent at September 30, 2023 and December 31, 2022, respectively.
Summary of long-term debt	A summary of long-term debt was as follows: In millions Interest Rate September 30, December 31, Long-term debt Senior notes, due 2023 (1) 3.65% $ 500 $ 500 Hydrogenics promissory notes, due 2024 and 2025 (2) —% 160 — Term loan, due 2025 (3) (4) Variable 1,350 1,550 Senior notes, due 2025 (5) 0.75% 500 500 Atmus term loan, due 2027 (6) Variable 600 — Debentures, due 2027 6.75% 58 58 Debentures, due 2028 7.125% 250 250 Senior notes, due 2030 (5) 1.50% 850 850 Senior notes, due 2043 4.875% 500 500 Senior notes, due 2050 2.60% 650 650 Debentures, due 2098 (7) 5.65% 165 165 Other debt 56 121 Unamortized discount and deferred issuance costs (75) (64) Fair value adjustments due to hedge on indebtedness (141) (122) Finance leases 100 113 Total long-term debt 5,523 5,071 Less: Current maturities of long-term debt 573 573 Long-term debt $ 4,950 $ 4,498 (1) Senior notes, due 2023, are classified as current maturities of long-term debt. On October 2, 2023, we repaid the $500 million senior notes. See NOTE 19, "SUBSEQUENT EVENTS," to our Condensed Consolidated Financial Statements for additional information. (2) See NOTE 16, "ACQUISITIONS," to our Condensed Consolidated Financial Statements for additional information. (3) During the first nine months of 2023, we paid down $200 million of the term loan, and on October 31, 2023, we repaid an additional $150 million of the term loan. (4) In September 2023, we entered into a series of interest rate swaps in order to trade a portion of the floating rate debt into fixed rate. See "Interest Rate Risk" in NOTE 13, "DERIVATIVES," to our Condensed Consolidated Financial Statements for additional information. (5) In 2021, we entered into a series of interest rate swaps to effectively convert debt from a fixed rate to floating rate. See "Interest Rate Risk" in NOTE 13, "DERIVATIVES," to our Condensed Consolidated Financial Statements for additional information. (6) See "Atmus Credit Agreement" section below for additional information. (7) The effective interest rate is 7.48 percent.
Principal repayments on long-term debt	Principal payments required on long-term debt during the next five years are as follows: In millions 2023 2024 2025 2026 2027 Principal payments $ 523 (1) $ 106 $ 1,989 $ 50 $ 604 (1) On October 2, 2023, we repaid our $500 million senior notes, due 2023. See NOTE 19, "SUBSEQUENT EVENTS," to our Condensed Consolidated Financial Statements for additional information.
Fair value and carrying value of total debt	Based on borrowing rates currently available to us for bank loans with similar terms and average maturities, considering our risk premium, the fair values and carrying values of total debt, including current maturities, were as follows: In millions September 30, December 31, Fair value of total debt (1) $ 6,939 $ 7,400 Carrying value of total debt 7,464 7,855 (1) The fair value of debt is derived from Level 2 input measures.

PRODUCT WARRANTY LIABILITY (Tab

PRODUCT WARRANTY LIABILITY (Tables)	9 Months Ended
	Sep. 30, 2023
Product Warranties Disclosures [Abstract]
Summary of activity in the product warranty account	A tabular reconciliation of the product warranty liability, including the deferred revenue related to our extended warranty coverage and accrued product campaigns, was as follows: Nine months ended September 30, In millions 2023 2022 Balance, beginning of year $ 2,477 $ 2,425 Provision for base warranties issued 458 395 Deferred revenue on extended warranty contracts sold 244 215 Provision for product campaigns issued 17 132 Payments made during period (429) (476) Amortization of deferred revenue on extended warranty contracts (226) (220) Changes in estimates for pre-existing product warranties and campaigns 19 (80) Acquisitions — 144 Foreign currency translation adjustments and other (2) 19 Balance, end of period $ 2,558 $ 2,554
Warranty related deferred revenue and the long-term portion of the warranty liability	Warranty related deferred revenues and warranty liabilities on our Condensed Consolidated Balance Sheets were as follows: In millions September 30, December 31, Balance Sheet Location Deferred revenue related to extended coverage programs Current portion $ 282 $ 290 Current portion of deferred revenue Long-term portion 739 717 Deferred revenue Total $ 1,021 $ 1,007 Product warranty Current portion $ 731 $ 726 Current portion of accrued product warranty Long-term portion 806 744 Other liabilities Total $ 1,537 $ 1,470 Total warranty accrual $ 2,558 $ 2,477

ACCUMULATED OTHER COMPREHENSI_2

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Tables)	9 Months Ended
	Sep. 30, 2023
Equity [Abstract]
Changes in accumulated other comprehensive loss by component	Following are the changes in accumulated other comprehensive income (loss) by component for the three months ended: In millions Change in pension and OPEB plans Foreign currency Unrealized gain Total Noncontrolling Total Balance at June 30, 2023 $ (434) $ (1,581) $ 98 $ (1,917) Other comprehensive income (loss) before reclassifications Before-tax amount 1 (154) 34 (119) $ (7) $ (126) Tax expense — (2) (9) (11) — (11) After-tax amount 1 (156) 25 (130) (7) (137) Amounts reclassified from accumulated other comprehensive income (loss) (1) 2 — (6) (4) — (4) Net current period other comprehensive income (loss) 3 (156) 19 (134) $ (7) $ (141) Balance at September 30, 2023 $ (431) $ (1,737) $ 117 $ (2,051) Balance at June 30, 2022 $ (324) $ (1,426) $ 54 $ (1,696) Other comprehensive income (loss) before reclassifications Before-tax amount — (365) 51 (314) $ (15) $ (329) Tax benefit (expense) — 1 (13) (12) — (12) After-tax amount — (364) 38 (326) (15) (341) Amounts reclassified from accumulated other comprehensive income (1) 6 — 3 9 — 9 Net current period other comprehensive income (loss) 6 (364) 41 (317) $ (15) $ (332) Balance at September 30, 2022 $ (318) $ (1,790) $ 95 $ (2,013) (1) Amounts are net of tax. Reclassifications out of accumulated other comprehensive income (loss) and the related tax effects are immaterial for separate disclosure. Following are the changes in accumulated other comprehensive income (loss) by component for the nine months ended: In millions Change in pension and OPEB plans Foreign currency Unrealized gain (loss) on derivatives Total Noncontrolling Total Balance at December 31, 2022 $ (427) $ (1,552) $ 89 $ (1,890) Other comprehensive income (loss) before reclassifications Before-tax amount (12) (190) 49 (153) $ (6) $ (159) Tax benefit (expense) 2 5 (10) (3) — (3) After-tax amount (10) (185) 39 (156) (6) (162) Amounts reclassified from accumulated other comprehensive income (loss) (1) 6 — (11) (5) — (5) Net current period other comprehensive (loss) income (4) (185) 28 (161) $ (6) $ (167) Balance at September 30, 2023 $ (431) $ (1,737) $ 117 $ (2,051) Balance at December 31, 2021 $ (346) $ (1,208) $ (17) $ (1,571) Other comprehensive income (loss) before reclassifications Before-tax amount 14 (589) 146 (429) $ (38) $ (467) Tax (expense) benefit (3) 7 (35) (31) — (31) After-tax amount 11 (582) 111 (460) (38) (498) Amounts reclassified from accumulated other comprehensive income (1) 17 — 1 18 — 18 Net current period other comprehensive income (loss) 28 (582) 112 (442) $ (38) $ (480) Balance at September 30, 2022 $ (318) $ (1,790) $ 95 $ (2,013) (1) Amounts are net of tax. Reclassifications out of accumulated other comprehensive income (loss) and the related tax effects are immaterial for separate disclosure.

DERIVATIVES (Tables)

DERIVATIVES (Tables)	9 Months Ended
	Sep. 30, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Derivative Instruments, Effect on Other Comprehensive Income (Loss)	The following table summarizes the net investment hedge activity in accumulated other comprehensive loss (AOCL): Three months ended Nine months ended September 30, September 30, In millions 2023 2022 2023 2022 Type of Derivative Gain (Loss) Gain (Loss) Reclassified from AOCL into Earnings Gain (Loss) Gain (Loss) Reclassified from AOCL into Earnings Gain (Loss) Gain (Loss) Reclassified from AOCL into Earnings Gain (Loss) Gain (Loss) Reclassified from AOCL into Earnings Foreign exchange forwards $ 22 $ — $ 29 $ — $ (6) $ — $ 29 $ — The following table summarizes the interest rate lock activity in AOCL: Three months ended Nine months ended September 30, September 30, In millions 2023 2022 2023 2022 Type of Swap Gain (Loss) Gain (Loss) Reclassified from AOCL into Interest Expense Gain (Loss) Gain (Loss) Reclassified from AOCL into Interest Expense Gain (Loss) Gain (Loss) Reclassified from AOCL into Interest Expense Gain (Loss) Gain (Loss) Reclassified from AOCL into Interest Expense Interest rate locks $ 15 $ — $ 21 $ — $ 16 $ — $ 103 $ —
Schedule of Interest Rate Derivatives	The following table summarizes the gains and losses: Three months ended Nine months ended September 30, September 30, In millions 2023 2022 2023 2022 Type of Swap Gain (Loss) Gain (Loss) on Borrowings Gain (Loss) Gain (Loss) on Borrowings Gain (Loss) Gain (Loss) on Borrowings Gain (Loss) Gain (Loss) on Borrowings Interest rate swaps (1) $ (17) $ 19 $ (47) $ 45 $ (10) $ 13 $ (158) $ 159 (1) The difference between the gain (loss) on swaps and borrowings represents hedge ineffectiveness.
Derivative Instruments, Gain (Loss)	The following table summarizes the effect on our Condensed Consolidated Statements of Net Income for derivative instruments classified as cash flow hedges. The table does not include amounts related to ineffectiveness as it was not material for the periods presented. Three months ended Nine months ended September 30, September 30, In millions 2023 2022 2023 2022 Gain (loss) reclassified from AOCL into income - Net sales (1) $ 7 $ (4) $ 12 $ (2) Gain reclassified from AOCL into income - Cost of sales (1)(2) 1 1 2 — (1) Includes foreign currency forward contracts. (2) Includes commodity swap contracts.
Derivatives Not Designated as Hedging Instruments	The following table summarizes the effect on our Condensed Consolidated Statements of Net Income for derivative instruments not designated as hedging instruments: Three months ended Nine months ended September 30, September 30, In millions 2023 2022 2023 2022 Gain (loss) recognized in income - Cost of sales (1) $ 1 $ 5 $ (2) $ 7 Loss recognized in income - Other income (expense), net (1) (60) (84) (77) (107) (1) Includes foreign currency forward contracts.
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value	The following table summarizes the location and fair value of derivative instruments on our Condensed Consolidated Balance Sheets : Derivatives Designated as Hedging Instruments Derivatives Not Designated as Hedging Instruments In millions September 30, December 31, September 30, December 31, Notional amount $ 2,824 $ 3,051 $ 3,968 $ 2,900 Derivative assets Prepaid expenses and other current assets $ 42 $ 18 $ 5 $ 27 Other assets — 80 — — Total derivative assets (1) $ 42 $ 98 $ 5 $ 27 Derivative liabilities Other accrued expenses $ 5 $ 19 $ 21 $ 3 Other liabilities 155 151 — — Total derivative liabilities (1) $ 160 $ 170 $ 21 $ 3 (1) Estimates of the fair value of all derivative assets and liabilities above are derived from Level 2 inputs, which are estimated using actively quoted prices for similar instruments from brokers and observable inputs where available, including market transactions and third-party pricing services, or net asset values provided to investors. We do not currently have any Level 3 input measures and there were no transfers into or out of Level 2 or 3 during the nine months ended September 30, 2023, or the year ended December 31, 2022.

RUSSIAN OPERATIONS (Tables)

RUSSIAN OPERATIONS (Tables)	9 Months Ended
	Sep. 30, 2023
Restructuring and Related Activities [Abstract]
Restructuring and Related Costs	The following summarizes the costs (recoveries) associated with the suspension of our Russian operations in our Condensed Consolidated Statements of Net Income: Three months ended Nine months ended In millions September 30, September 30, Statement of Net Income Location Inventory write-downs $ (2) $ 17 Cost of sales Accounts receivable reserves (1) 42 Other operating expense, net Impairment and other joint venture costs — 31 Equity, royalty and interest income from investees Other 4 22 Other operating expense, net Total $ 1 $ 112

ACQUISITIONS (Tables)

ACQUISITIONS (Tables)	9 Months Ended
	Sep. 30, 2023
Business Acquisition [Line Items]
Schedule of Business Acquisitions, by Acquisition	Acquisitions for the nine months ended September 30, 2023 and 2022, were as follows: Entity Acquired (Dollars in millions) Date of Acquisition Additional Percent Interest Acquired Payments to Former Owners Acquisition Related Debt Retirements Total Purchase Consideration Type of Acquisition (1) Goodwill Acquired Intangibles Recognized (2) 2023 Hydrogenics Corporation (Hydrogenics) 06/29/23 19% $ 287 $ 48 $ 335 (3) EQUITY $ — $ — Teksid Hierro de Mexico, S.A. de C.V. (Teksid MX) 04/03/23 100% 143 — 143 (4) COMB 18 — 2022 (5) Meritor, Inc. (Meritor) 08/03/22 100% $ 2,613 $ 248 $ 2,861 COMB $ 926 $ 1,610 Jacobs Vehicle Systems (Jacobs) 04/08/22 100% 345 — 345 COMB 108 164 Cummins Westport, Inc. (Westport JV) 02/07/22 50% 42 — 42 COMB — 20 (1) All results from acquired entities were included in segment results subsequent to the acquisition date. Previously consolidated entities were accounted for as equity transactions (EQUITY). Newly consolidated entities were accounted for as business combinations (COMB). (2) Intangible assets acquired in the business combination were mostly customer, technology and trade name related. (3) Hydrogenics entered into three non-interest-bearing promissory notes with $175 million paid on July 31, 2023, and the remaining $160 million due in three installments through 2025. (4) Total purchase consideration included $32 million for the settlement of accounts payable. (5) See N OTE 2, "ACQUISITIONS," of the Notes to the Consolidated Financial Statements of our 2022 Form 10-K for additional information on prior year acquisitions.
Meritor Inc.
Business Acquisition [Line Items]
Business Acquisition, Pro Forma Information	The unaudited pro forma financial information does not reflect any potential cost savings, operating efficiencies, long-term debt pay down estimates, financial synergies or other strategic benefits as a result of the acquisition or any restructuring costs to achieve those benefits. (Unaudited) Three months ended Nine months ended In millions September 30, September 30, Net sales $ 7,734 $ 23,071 Net income 397 1,565

OPERATING SEGMENTS (Tables)

OPERATING SEGMENTS (Tables)	9 Months Ended
	Sep. 30, 2023
Segment Reporting [Abstract]
Financial information regarding reportable operating segments	Summarized financial information regarding our reportable operating segments for the three and nine months ended September 30, 2023 and 2022 is shown in the table below: In millions Components Engine Distribution Power Systems Accelera Total Segments Three months ended September 30, 2023 External sales $ 2,780 $ 2,236 $ 2,519 $ 798 $ 98 $ 8,431 Intersegment sales 456 695 16 646 5 1,818 Total sales 3,236 2,931 2,535 1,444 103 10,249 Research, development and engineering expenses 93 159 14 60 50 376 Equity, royalty and interest income (loss) from investees 26 62 22 11 (3) 118 Interest income 8 4 9 3 — 24 Segment EBITDA 441 (1) 395 306 234 (114) 1,262 Depreciation and amortization (2) 120 59 28 30 18 255 Three months ended September 30, 2022 External sales $ 2,220 $ 2,063 $ 2,232 $ 773 $ 45 $ 7,333 Intersegment sales 483 716 7 576 5 1,787 Total sales 2,703 2,779 2,239 1,349 50 9,120 Research, development and engineering expenses 87 140 13 62 46 348 Equity, royalty and interest income (loss) from investees 17 27 20 10 (4) 70 Interest income 4 3 4 3 — 14 Russian suspension costs (3) 1 — — — — 1 Segment EBITDA 297 (4) 362 225 193 (95) 982 Depreciation and amortization (2) 95 51 29 30 10 215 Nine months ended September 30, 2023 External sales $ 8,747 $ 6,751 $ 7,494 $ 2,271 $ 259 $ 25,522 Intersegment sales 1,471 2,154 42 1,973 14 5,654 Total sales 10,218 8,905 7,536 4,244 273 31,176 Research, development and engineering expenses 287 441 43 189 150 1,110 Equity, royalty and interest income (loss) from investees 71 198 70 42 (11) 370 Interest income 21 14 24 7 1 67 Segment EBITDA 1,434 (1) 1,277 940 654 (322) 3,983 Depreciation and amortization (2) 368 166 84 91 47 756 Nine months ended September 30, 2022 External sales $ 5,214 $ 6,204 $ 6,590 $ 2,190 $ 106 $ 20,304 Intersegment sales 1,427 2,103 19 1,522 17 5,088 Total sales 6,641 8,307 6,609 3,712 123 25,392 Research, development and engineering expenses 236 365 39 184 121 945 Equity, royalty and interest income (loss) from investees 54 127 (5) 57 31 (8) 261 Interest income 7 8 9 5 — 29 Russian suspension costs (3) 5 33 (6) 55 19 — 112 Segment EBITDA 969 (4) 1,173 632 411 (239) 2,946 Depreciation and amortization (2) 187 151 86 92 25 541 (1) Includes $20 million and $50 million of costs associated with the IPO and separation of Atmus for the three and nine months ended September 30, 2023, respectively. See NOTE 15, "FORMATION OF ATMUS AND IPO," to our Condensed Consolidated Financial Statements for additional information. (2) Depreciation and amortization, as shown on a segment basis, excludes the amortization of debt discount and deferred costs included in the Condensed Consolidated Statements of Net Income as interest expense. The amortization of debt discount and deferred costs was $4 million and $3 million for the nine months ended September 30, 2023 and September 30, 2022, respectively. A portion of depreciation expense is included in research, development and engineering expenses. (3) See NOTE 14, "RUSSIAN OPERATIONS," to our Condensed Consolidated Financial Statements for additional information. (4) Includes $45 million and $56 million of costs related to the acquisition and integration of Meritor and $10 million and $15 million of costs associated with the separation of Atmus for three and nine months ended September 30, 2022, respectively. See NOTE 15, "FORMATION OF ATMUS AND IPO," and NOTE 16 "ACQUISITIONS," to our Condensed Consolidated Financial Statements for additional information. (5) Includes a $28 million impairment of our joint venture with KAMAZ and $3 million of royalty charges as part of our costs associated with the indefinite suspension of our Russian operations. See NOTE 14, "RUSSIAN OPERATIONS," to our Condensed Consolidated Financial Statements for additional information. (6) Includes $31 million of Russian suspension costs reflected in the equity, royalty and interest income (loss) from investees line above.
Reconciliation of segment information	A reconciliation of our segment information to the corresponding amounts in the Condensed Consolidated Statements of Net Income is shown in the table below: Three months ended Nine months ended September 30, September 30, In millions 2023 2022 2023 2022 TOTAL SEGMENT EBITDA $ 1,262 $ 982 $ 3,983 $ 2,946 Intersegment eliminations and other (1) (32) (98) (88) (252) Less: Interest expense 97 61 283 112 Depreciation and amortization 255 215 756 541 INCOME BEFORE INCOME TAXES $ 878 $ 608 $ 2,856 $ 2,041 (1) Intersegment eliminations and other included $6 million and $17 million of costs associated with the IPO and separation of Atmus for the three and nine month periods ended September 30, 2023, respectively and $6 million and $47 million for the comparable periods in 2022, respectively. See NOTE 15, "FORMATION OF ATMUS AND IPO," to our Condensed Consolidated Financial Statements for additional information.

NATURE OF OPERATIONS AND BASI_3

NATURE OF OPERATIONS AND BASIS OF PRESENTATION (Details) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023 USD ($) shares	Sep. 30, 2022 USD ($) shares	Sep. 30, 2023 USD ($) country location shares	Sep. 30, 2022 USD ($) shares	Dec. 31, 2022 USD ($)
Nature of Operations [Line Items]
Company Owned and Independent Distributor Locations Number | location			460
Countries and Territories Number | country			190
Options excluded (in shares) | shares	7,267	22,307	8,770	25,290
Net Sales	$ 8,431	$ 7,333	$ 25,522	$ 20,304
Accounts and notes receivable, net	5,662		5,662		$ 5,202
Accounts payable (principally trade)	4,262		4,262		4,252
Supply Chain Financing, Program Maximum	482		482
SupplierFinanceProgramObligationCurrent	220		220		331
Related Party
Nature of Operations [Line Items]
Net Sales	315	295	1,011	920
Related Party Transaction, Purchases from Related Party	602	$ 515	1,993	$ 1,270
Accounts and notes receivable, net	458		458		376
Accounts payable (principally trade)	$ 296		$ 296		$ 292
Minimum
Nature of Operations [Line Items]
Dealer Locations Number | location			10,000
Supplier Finance Program, Payment Timing, Period	60 days		60 days
Maximum
Nature of Operations [Line Items]
Supplier Finance Program, Payment Timing, Period	90 days		90 days

REVENUE RECOGNITION LONGTERM _2

REVENUE RECOGNITION LONGTERM CONTRACTS AND DEFERRED AND UNBILLED REVENUE (Details 1) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, Remaining Performance Obligation, Amount	$ 795		$ 795
Unbilled revenue	296		296		$ 257
Deferred revenue	2,040		2,040		$ 1,848
Contract with Customer, Liability, Revenue Recognized	126	$ 123	510	$ 539
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-10-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, Remaining Performance Obligation, Amount	$ 334		$ 334
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period	12 months		12 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-10-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, Remaining Performance Obligation, Amount	$ 461		$ 461
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period	10 years		10 years

REVENUE RECOGNITION DISAGGREG_3

REVENUE RECOGNITION DISAGGREGATION OF REVENUES (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Disaggregation of Revenue [Line Items]
Net Sales	$ 8,431	$ 7,333	$ 25,522	$ 20,304
Axles and brakes (CBU business)
Disaggregation of Revenue [Line Items]
Net Sales	1,177	732	3,698	732
Emission solutions (CBU business)
Disaggregation of Revenue [Line Items]
Net Sales	803	748	2,584	2,323
ATMUS - Filtration
Disaggregation of Revenue [Line Items]
Net Sales	324	322	1,007	949
Engine Components (CBU business)
Disaggregation of Revenue [Line Items]
Net Sales	263	239	838	702
Automated Transmissions (CBU business)
Disaggregation of Revenue [Line Items]
Net Sales	187	159	545	436
Software and electronics (CBU business)
Disaggregation of Revenue [Line Items]
Net Sales	26	20	75	72
Heavy-duty truck (EBU market)
Disaggregation of Revenue [Line Items]
Net Sales	885	751	2,601	2,232
Medium-duty truck and bus (EBU market)
Disaggregation of Revenue [Line Items]
Net Sales	656	583	1,960	1,794
Light-duty automotive (EBU market)
Disaggregation of Revenue [Line Items]
Net Sales	451	465	1,336	1,377
On-highway (EBU market)
Disaggregation of Revenue [Line Items]
Net Sales	1,992	1,799	5,897	5,403
Off-highway (EBU market)
Disaggregation of Revenue [Line Items]
Net Sales	244	264	854	801
Parts (DBU product line)
Disaggregation of Revenue [Line Items]
Net Sales	991	942	3,054	2,855
Power Generation (DBU product line)
Disaggregation of Revenue [Line Items]
Net Sales	601	428	1,701	1,266
Engines (DBU product line)
Disaggregation of Revenue [Line Items]
Net Sales	507	449	1,490	1,315
Service (DBU product line)
Disaggregation of Revenue [Line Items]
Net Sales	420	413	1,249	1,154
Power Generation (PSBU product line)
Disaggregation of Revenue [Line Items]
Net Sales	420	425	1,247	1,232
Industrial (PSBU product line)
Disaggregation of Revenue [Line Items]
Net Sales	263	226	670	627
Generator technologies (PSBU product line)
Disaggregation of Revenue [Line Items]
Net Sales	115	122	354	331
Components
Disaggregation of Revenue [Line Items]
Net Sales	3,236	2,703	10,218	6,641
Engine
Disaggregation of Revenue [Line Items]
Net Sales	2,931	2,779	8,905	8,307
Distribution
Disaggregation of Revenue [Line Items]
Net Sales	2,535	2,239	7,536	6,609
Power Systems
Disaggregation of Revenue [Line Items]
Net Sales	1,444	1,349	4,244	3,712
External Sales | Components
Disaggregation of Revenue [Line Items]
Net Sales	2,780	2,220	8,747	5,214
External Sales | Engine
Disaggregation of Revenue [Line Items]
Net Sales	2,236	2,063	6,751	6,204
External Sales | Distribution
Disaggregation of Revenue [Line Items]
Net Sales	2,519	2,232	7,494	6,590
External Sales | Power Systems
Disaggregation of Revenue [Line Items]
Net Sales	798	773	2,271	2,190
UNITED STATES
Disaggregation of Revenue [Line Items]
Net Sales	4,886	4,226	14,625	11,471
UNITED STATES | Revision of Prior Period, Adjustment
Disaggregation of Revenue [Line Items]
Net Sales				110
CHINA
Disaggregation of Revenue [Line Items]
Net Sales	721	601	2,273	1,774
CHINA | Distribution
Disaggregation of Revenue [Line Items]
Net Sales	110	89	323	270
INDIA
Disaggregation of Revenue [Line Items]
Net Sales	374	358	1,198	978
INDIA | Distribution
Disaggregation of Revenue [Line Items]
Net Sales	66	55	186	155
OTHER INTERNATIONAL
Disaggregation of Revenue [Line Items]
Net Sales	2,450	2,148	7,426	6,081
NORTH AMERICA | Distribution
Disaggregation of Revenue [Line Items]
Net Sales	1,719	1,512	5,195	4,374
ASIA PACIFIC | Distribution
Disaggregation of Revenue [Line Items]
Net Sales	292	258	796	744
EUROPE | Distribution
Disaggregation of Revenue [Line Items]
Net Sales	200	181	607	702
AFRICA AND MIDDLE EAST | Distribution
Disaggregation of Revenue [Line Items]
Net Sales	77	79	219	190
LATIN AMERICA | Distribution
Disaggregation of Revenue [Line Items]
Net Sales	$ 55	$ 58	$ 168	$ 155

PENSION AND OTHER POSTRETIREM_3

PENSION AND OTHER POSTRETIREMENT BENEFITS (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Oct. 01, 2023
Pension and other postretirement benefits
Defined contribution pension plans	$ 29	$ 26	$ 102	$ 82
Pension Plan
Pension and other postretirement benefits
Defined Benefit Plan, Plan Assets, Contributions by Employer	8	7	102	46
Other Postretirement Benefits Plan
Pension and other postretirement benefits
Defined Benefit Plan, Plan Assets, Contributions by Employer	4	9	13	25
Components of Net Periodic Benefit Cost
Service cost	0	0	0	0
Interest cost	2	2	6	4
Expected return on plan assets	0	0	0	0
Amortization of prior service cost	0	0	0	0
Recognized net actuarial loss	(1)	0	(2)	0
Net periodic benefit cost	1	2	4	4
Estimate | Pension Plan
Pension and other postretirement benefits
Defined Benefit Plan, Expected Future Employer Contributions, Remainder of Fiscal Year					$ 13
Net periodic pension cost					$ 0
UNITED STATES | Pension Plan
Components of Net Periodic Benefit Cost
Service cost	29	35	87	103
Interest cost	42	27	126	71
Expected return on plan assets	(69)	(60)	(207)	(164)
Amortization of prior service cost	0	1	1	1
Recognized net actuarial loss	2	5	6	17
Net periodic benefit cost	4	8	13	28
UNITED KINGDOM | Pension Plan
Components of Net Periodic Benefit Cost
Service cost	4	7	12	23
Interest cost	18	10	53	28
Expected return on plan assets	(27)	(22)	(79)	(62)
Amortization of prior service cost	1	0	1	0
Recognized net actuarial loss		1		2
Net periodic benefit cost	$ (4)	$ (4)	$ (13)	$ (9)

EQUITY, ROYALTY AND INTEREST _3

EQUITY, ROYALTY AND INTEREST INCOME FROM INVESTEES (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Oct. 01, 2023
Schedule of Equity Method Investments [Line Items]
Equity, royalty and interest income from investees	$ 118	$ 70	$ 370	$ 261
Impairment of Equity Method Investment		0		31
Minimum | Estimate
Schedule of Equity Method Investments [Line Items]
Total Investment by All Partners					$ 2,000
Maximum | Estimate
Schedule of Equity Method Investments [Line Items]
Total Investment by All Partners					$ 3,000
Dongfeng Cummins Engine Company Ltd
Schedule of Equity Method Investments [Line Items]
Equity, royalty and interest income from investees	15	8	52	35
Beijing Foton Cummins Engine Company
Schedule of Equity Method Investments [Line Items]
Equity, royalty and interest income from investees	8	6	33	34
Chongqing Cummins Engine Company, Ltd.
Schedule of Equity Method Investments [Line Items]
Equity, royalty and interest income from investees	7	7	29	23
Tata Cummins, Ltd.
Schedule of Equity Method Investments [Line Items]
Equity, royalty and interest income from investees	6	5	21	19
All other manufacturers
Schedule of Equity Method Investments [Line Items]
Equity, royalty and interest income from investees	18	11	69	14
Komatsu Cummins Chile, Ltda. (Distribution)
Schedule of Equity Method Investments [Line Items]
Equity, royalty and interest income from investees	13	13	40	32
All other distributors
Schedule of Equity Method Investments [Line Items]
Equity, royalty and interest income from investees	3	3	10	8
Cummin's Share of Equity Earnings
Schedule of Equity Method Investments [Line Items]
Equity, royalty and interest income from investees	$ 70	53	$ 254	165
Joint Venture with KAMAZ
Schedule of Equity Method Investments [Line Items]
Impairment of Equity Method Investment				28
Royalty charges
Schedule of Equity Method Investments [Line Items]
Impairment of Equity Method Investment				3
Battery Joint Venture Commitment
Schedule of Equity Method Investments [Line Items]
Equity Method Investment, Ownership Percentage	30%		30%
Partners Investment Ownership Percentage	10%		10%
Royalty and interest income
Schedule of Equity Method Investments [Line Items]
Equity, royalty and interest income from investees	$ 48	$ 17	$ 116	$ 96

INCOME TAXES (Details)

INCOME TAXES (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Income Tax Disclosure [Abstract]
Effective tax rate (as a percent)	21.40%	32.70%	21.80%	24.60%
Discrete Tax Expense (Benefit)	$ (5)	$ 57	$ (5)	$ 52
Income Tax Provision to Return Adjustment	(13)	10	(15)	10
Share-Based Payment Arrangement, Expense, Tax Benefit	1		5
Unrecognized Tax Benefits, Period Increase (Decrease)	$ 9		11
Other Discrete Tax Expenses		(4)	$ 4
Tax costs associated with internal restructuring		$ 51		69
Income Tax Expense (Benefit), Continuing Operations, Adjustment of Deferred Tax (Asset) Liability				$ (27)

MARKETABLE SECURITIES (Details)

MARKETABLE SECURITIES (Details) - USD ($) $ in Millions	9 Months Ended		12 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022
Schedule of Available-for-sale Securities
Debt Securities, Available-for-sale, Amortized Cost	$ 4		$ 2
Debt Securities, Available for sale, Unrealized Gain (Loss)	0		0
Debt Securities, Available-for-sale	4		2
Debt Securities, Trading, and Equity Securities, FV-NI, Cost	455		474
Marketable Securities, Unrealized Gain / (Loss)	(3)		(2)
Marketable securities (Note 6)	452		472
Proceeds from Sale of Held-to-maturity Securities	812	$ 576
Proceeds from Maturity of Marketable Securities	190	243
Proceeds from sales and maturities of marketable securities	1,002	$ 819
Debt Mutual Funds
Schedule of Available-for-sale Securities
Equity Securities, cost	236		238
Equity Securities, Unrealized Gain (Loss)	(7)		(5)
Equity Securities, Fair Value	229		233
Certificates of deposit
Schedule of Available-for-sale Securities
Equity Securities, cost	191		209
Equity Securities, Unrealized Gain (Loss)	0		0
Equity Securities, Fair Value	191		209
Equity mutual funds
Schedule of Available-for-sale Securities
Equity Securities, cost	24		25
Equity Securities, Unrealized Gain (Loss)	4		3
Equity Securities, Fair Value	$ 28		$ 28
Minimum | Certificates of deposit
Schedule of Available-for-sale Securities
Maturities of Time Deposits, Description	three months
Maximum | Certificates of deposit
Schedule of Available-for-sale Securities
Maturities of Time Deposits, Description	five years

INVENTORIES (Details)

INVENTORIES (Details) - USD ($) $ in Millions	Sep. 30, 2023	Dec. 31, 2022
Inventory Disclosure [Abstract]
Finished products	$ 3,168	$ 2,917
Work-in-process and raw materials	2,988	2,926
Inventories at FIFO cost	6,156	5,843
Excess of FIFO over LIFO	(250)	(240)
Total inventories	$ 5,906	$ 5,603

SUPPLEMENTAL BALANCE SHEET DA_3

SUPPLEMENTAL BALANCE SHEET DATA (Details) - USD ($) $ in Millions	Sep. 30, 2023	Dec. 31, 2022
Balance Sheet Related Disclosures [Abstract]
Deferred income taxes	$ 865	$ 625
Operating lease assets	500	492
Corporate owned life insurance	383	390
Other Assets, Miscellaneous, Noncurrent	454	633
Other assets	2,202	2,140
Marketing accruals	403	316
Income taxes payable	239	173
Other taxes payable	238	224
Current portion of operating lease liabilities	133	132
Other Accrued Liabilities, Current	693	620
Other accrued expenses	1,706	1,465
Long-term portion of accrued product warranty	806	744
Deferred income taxes	607	649
Pensions	438	445
Operating lease liabilities	373	368
Accrued compensation	192	184
Mark-to-market valuation on interest rate derivatives	155	151
Liability, Other Postretirement Defined Benefit Plan	135	141
Long-term income taxes	120	192
Other Accrued Liabilities, Noncurrent	506	437
Other liabilities	$ 3,332	$ 3,311

DEBT (Details)

DEBT (Details) $ in Millions			9 Months Ended		12 Months Ended
	Oct. 31, 2023 USD ($)	Oct. 02, 2023 USD ($)	Sep. 30, 2023 USD ($) Rate	Sep. 30, 2022 USD ($)	Dec. 31, 2022 USD ($) Rate	Jun. 05, 2023 USD ($)	May 26, 2023 USD ($)	Aug. 17, 2022 USD ($)	Aug. 18, 2021 USD ($)
Debt Instruments
Loans payable			$ 231		$ 210
Commercial paper			1,710		2,574
Line of Credit Facility, Maximum Borrowing Capacity			4,000
Line of Credit Facility, Remaining Borrowing Capacity			2,300
Other Long-term Debt			56		121
Unamortized discount and deferred issuance costs			(75)		(64)
Fair value adjustments due to hedge on indebtedness			(141)		(122)
Finance Lease, Liability			100		113
Total long-term debt			5,523		5,071
Current maturities of long-term debt			573		573
Long-term debt			4,950		4,498
Repayment of Long-Term Debt			(391)	$ (1,070)
Principal payments
2023			523
2024			106
2025			1,989
2026			50
2027			604
Fair value
Fair value of total debt			6,939		7,400
Carrying value of total debt			7,464		7,855
Senior notes, due 2023 (1)
Debt Instruments
Unsecured Debt			$ 500		500
Debt instrument interest rate (as a percent) | Rate			3.65%
Senior notes, due 2023 (1) | Subsequent Event
Debt Instruments
Repayment of Long-Term Debt		$ (500)
Hydrogenics promissory notes, due 2024 and 2025 (2)
Debt Instruments
Unsecured Debt			$ 160		0
Term loan, due 2025 (3) (4)
Debt Instruments
Unsecured Debt			1,350		1,550
Repayment of Long-Term Debt			(200)
Term loan, due 2025 (3) (4) | Subsequent Event
Debt Instruments
Repayment of Long-Term Debt	$ (150)
Senior notes, due 2025 (5)
Debt Instruments
Unsecured Debt			$ 500		500
Debt instrument interest rate (as a percent) | Rate			0.75%
Atmus term loan, due 2027 (6)
Debt Instruments
Unsecured Debt			$ 600				$ 600
Debentures, due 2027
Debt Instruments
Unsecured Debt			$ 58		58
Debt instrument interest rate (as a percent) | Rate			6.75%
Debentures, due 2028
Debt Instruments
Unsecured Debt			$ 250		250
Debt instrument interest rate (as a percent) | Rate			7.125%
Senior Notes 1.50 Percent, Due 2030
Debt Instruments
Unsecured Debt			$ 850		850
Debt instrument interest rate (as a percent) | Rate			1.50%
Senior notes, due 2043
Debt Instruments
Unsecured Debt			$ 500		500
Debt instrument interest rate (as a percent) | Rate			4.875%
Senior notes, due 2050
Debt Instruments
Unsecured Debt			$ 650		650
Debt instrument interest rate (as a percent) | Rate			2.60%
Debentures, due 2098 (7)
Debt Instruments
Unsecured Debt			$ 165		$ 165
Effective interest rate (as a percent) | Rate			7.48%
Debt instrument interest rate (as a percent) | Rate			5.65%
Filtration Facilities
Debt Instruments
Line of Credit Facility, Maximum Borrowing Capacity			$ 1,000
Fair value
Credit spread adjustment to Term SOFR			0.10%
Filtration Facilities | Minimum
Fair value
Debt Instrument, Basis Spread on Variable Rate			1.125%
Filtration Facilities | Maximum
Fair value
Debt Instrument, Basis Spread on Variable Rate			1.75%
Filtration revolving credit facility
Debt Instruments
Line of Credit Facility, Maximum Borrowing Capacity			$ 400
Atmus revolving credit facility, due 2027 (6)
Debt Instruments
Unsecured Debt							$ 50
Commercial Paper
Debt Instruments
Weighted Average Interest Rate (as a percent) | Rate			5.48%		4.27%
Line of Credit Facility, Maximum Borrowing Capacity			$ 4,000
International and Other Lines of Credit
Debt Instruments
Line of Credit Facility, Remaining Borrowing Capacity			$ 356
1-year revolving credit agreement
Debt Instruments
Line of Credit Facility, Maximum Borrowing Capacity						$ 2,000		$ 1,500
Incremental Domestic Line of Credit
Debt Instruments
Line of Credit Facility, Maximum Borrowing Capacity								$ 500
5-Year Revolving Credit Facility
Debt Instruments
Line of Credit Facility, Maximum Borrowing Capacity									$ 2,000
Filtration Facilities
Fair value
Leverage Ratio			4
Interest Coverage Ratio			3

PRODUCT WARRANTY LIABILITY (Det

PRODUCT WARRANTY LIABILITY (Details 1) Warranty Footnote Disclosure - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022
Product Warranties Disclosures [Abstract]
Balance, beginning of year			$ 2,477	$ 2,425
Provision for base warranties issued			458	395
Deferred revenue on extended warranty contracts sold			244	215
Provision for product campaigns issued			17	132
Payments made during period			(429)	(476)
Amortization of deferred revenue on extended warranty contracts			(226)	(220)
Changes in estimates for pre-existing product warranties and campaigns			19	(80)
Acquisitions			0	144
Foreign currency translation adjustments and other			(2)	19
Balance, end of period	$ 2,558	$ 2,554	2,558	2,554
Supplier recoveries	7	$ 10	19	$ 33
Product Warranty Liability
Current portion of warranty related deferred revenue	1,029		1,029		$ 1,004
Long term portion of warranty related deferred revenue	1,011		1,011		844
Deferred Revenue Related to extended coverage, Total	1,021		1,021		1,007
Current portion of accrued product warranty	731		731		726
Long-term portion of accrued product warranty	806		806		744
Standard Product Warranty Accrual	1,537		1,537		1,470
Current portion of deferred revenue
Product Warranty Liability
Current portion of warranty related deferred revenue	282		282		290
Deferred revenue
Product Warranty Liability
Long term portion of warranty related deferred revenue	739		739		717
Current portion of accrued product warranty
Product Warranty Liability
Current portion of accrued product warranty	731		731		726
Other liabilities
Product Warranty Liability
Long-term portion of accrued product warranty	$ 806		$ 806		$ 744

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Mar. 31, 2022	Sep. 30, 2023
Guarantee Obligations
Provision for product campaigns issued	$ 29	$ 30
Guarantor obligations, maximum potential loss			$ 47
Long-term purchase commitment, penalty exposure			252
Total commitments under commodity contracts			38
Performance Bonds and Other Performance Guarantees			$ 154
Maximum
Guarantee Obligations
Forward Contract, Term			two years

ACCUMULATED OTHER COMPREHENSI_3

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance at the beginning of the period			$ (1,890)
Before tax amount	$ (126)	$ (329)	(159)	$ (467)
Tax (expense) benefit	(11)	(12)	(3)	(31)
After tax amount	(137)	(341)	(162)	(498)
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax	(4)	9	(5)	18
Net current period other comprehensive (loss) income	(141)	(332)	(167)	(480)
Balance at the end of the period	(2,051)		(2,051)
Change in pension and OPEB plans
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance at the beginning of the period	(434)	(324)	(427)	(346)
Before tax amount	1	0	(12)	14
Tax (expense) benefit	0	0	2	(3)
After tax amount	1	0	(10)	11
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax	2	6	6	17
Net current period other comprehensive (loss) income	3	6	(4)	28
Balance at the end of the period	(431)	(318)	(431)	(318)
Foreign currency translation adjustment
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance at the beginning of the period	(1,581)	(1,426)	(1,552)	(1,208)
Before tax amount	(154)	(365)	(190)	(589)
Tax (expense) benefit	(2)	1	5	7
After tax amount	(156)	(364)	(185)	(582)
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax	0	0	0	0
Net current period other comprehensive (loss) income	(156)	(364)	(185)	(582)
Balance at the end of the period	(1,737)	(1,790)	(1,737)	(1,790)
Unrealized gain (loss) on derivatives
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance at the beginning of the period	98	54	89	(17)
Before tax amount	34	51	49	146
Tax (expense) benefit	(9)	(13)	(10)	(35)
After tax amount	25	38	39	111
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax	(6)	3	(11)	1
Net current period other comprehensive (loss) income	19	41	28	112
Balance at the end of the period	117	95	117	95
Total attributable to Cummins Inc.
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance at the beginning of the period	(1,917)	(1,696)	(1,890)	(1,571)
Before tax amount	(119)	(314)	(153)	(429)
Tax (expense) benefit	(11)	(12)	(3)	(31)
After tax amount	(130)	(326)	(156)	(460)
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax	(4)	9	(5)	18
Net current period other comprehensive (loss) income	(134)	(317)	(161)	(442)
Balance at the end of the period	(2,051)	(2,013)	(2,051)	(2,013)
Noncontrolling interests
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Before tax amount	(7)	(15)	(6)	(38)
Tax (expense) benefit	0	0	0	0
After tax amount	(7)	(15)	(6)	(38)
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax	0	0	0
Net current period other comprehensive (loss) income	$ (7)	$ (15)	$ (6)	$ (38)

DERIVATIVES (Details)

DERIVATIVES (Details) - USD ($) $ in Millions	3 Months Ended			9 Months Ended		12 Months Ended	21 Months Ended
	Sep. 30, 2023	Mar. 31, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022	Sep. 30, 2023	Dec. 31, 2020	Dec. 31, 2019
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Gain (Loss) on Swaps	$ (17)		$ (47)	$ (10)	$ (158)
Gain (Loss) on Borrowings	19		$ 45	13	$ 159
Derivative Assets (Liabilities), at Fair Value, Net	9			9		$ 52	$ 9
Derivative, Net Liability Position, Aggregate Fair Value	143			143		100	143
Designated as Hedging Instrument
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative, Notional Amount	2,824			2,824		3,051	2,824
Derivative Asset	42			42		98	42
Derivative Liability	160			160		170	160
Not Designated as Hedging Instrument
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative, Notional Amount	3,968			3,968		2,900	3,968
Derivative Asset	5			5		27	5
Derivative Liability	21			21		3	21
Prepaid Expenses and Other Current Assets | Designated as Hedging Instrument
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative Asset	42			42		18	42
Prepaid Expenses and Other Current Assets | Not Designated as Hedging Instrument
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative Asset	5			5		27	5
Other Noncurrent Assets | Designated as Hedging Instrument
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative Asset	0			0		80	0
Other Noncurrent Assets | Not Designated as Hedging Instrument
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative Asset	0			0		0	0
Other accrued expenses | Designated as Hedging Instrument
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative Liability	5			5		19	5
Other accrued expenses | Not Designated as Hedging Instrument
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative Liability	21			21		3	21
Other liabilities | Designated as Hedging Instrument
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative Liability	155			155		151	155
Other liabilities | Not Designated as Hedging Instrument
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative Liability	$ 0			$ 0		0	0
Sales
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative Instrument, Gain (Loss) Reclassified from AOCI into Income, Effective Portion, Statement of Income or Comprehensive Income [Extensible Enumeration]	Revenues		Revenues	Revenues	Revenues
Cost of Sales
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative Instrument, Gain (Loss) Reclassified from AOCI into Income, Effective Portion, Statement of Income or Comprehensive Income [Extensible Enumeration]	Cost of sales		Cost of sales	Cost of sales	Cost of sales
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net	$ 1		$ 5	$ (2)	$ 7
Other Nonoperating Income (Expense)
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net	(60)		(84)	(77)	(107)
Foreign Exchange Forward
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative, Notional Amount	4,700			$ 4,700		$ 3,600	4,700
Foreign Exchange Forward | Foreign currencies | Geographic Concentration Risk
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Concentration Risk, Percentage				87%		88%
Net Investment Hedging
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative, Notional Amount	776			$ 776			776
Gain (Loss)  Recognized in AOCL	22		29	(6)	29
Gain (Loss) Reclassified from AOCL into Earnings	0		0	0	0
Interest Rate Swap
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative, Notional Amount	$ 500			$ 500			$ 500
Derivative, Notional Amount Settled		$ 100
Derivative, Cash Received on Hedge		7
Senior Notes 5.72 Percent, Due in 2025
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative, Swaption Interest Rate	5.72%			5.72%			5.72%
Interest Rate Lock
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative, Notional Amount	$ 500			$ 500			$ 500	$ 150	$ 350
Gain (Loss)  Recognized in AOCL	15		21	16	103
Gain (Loss) Reclassified from AOCL into Earnings	0		$ 0	0	$ 0
Derivative, Notional Amount Settled	250	100				$ 150
Derivative, Cash Received on Hedge	67	$ 34				49	150
Senior notes, due 2025 (5)
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Unsecured Debt	$ 500			$ 500		500	$ 500
Debt instrument interest rate (as a percent)	0.75%			0.75%			0.75%
Senior notes, due 2025 (5) | London Interbank Offered Rate
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Debt Instrument, Description of Variable Rate Basis				LIBOR
Senior Notes 1.50 Percent, Due 2030
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Unsecured Debt	$ 850			$ 850		$ 850	$ 850
Debt instrument interest rate (as a percent)	1.50%			1.50%			1.50%
Senior Notes 1.50 Percent, Due 2030 | Interest Rate Swap
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative, Notional Amount	$ 765			$ 765			$ 765
Senior Notes 1.50 Percent, Due 2030 | London Interbank Offered Rate
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Debt Instrument, Description of Variable Rate Basis				LIBOR

RUSSIAN OPERATIONS (Details)

RUSSIAN OPERATIONS (Details) - USD ($) $ in Millions	3 Months Ended	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Restructuring and Related Activities [Abstract]
Inventory Write-down	$ (2)		$ 17
Accounts Receivable, Allowance for Credit Loss, Writeoff	(1)		42
Impairment of Equity Method Investment	0		31
Other Restructuring Costs	4		22
Russian suspension costs (recoveries)	$ 1	$ 0	$ 112

FORMATION OF ATMUS AND IPO (Det

FORMATION OF ATMUS AND IPO (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Millions			3 Months Ended		9 Months Ended
	May 30, 2023	May 23, 2023	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	May 26, 2023	Dec. 31, 2022
Noncash or Part Noncash Divestitures [Line Items]
Proceeds from Issuance of Commercial Paper		$ 350
Impact on equity of sale of noncontrolling interest in subsidiary					$ 282
Cash and cash equivalents			$ 2,387		2,387			$ 2,020
Net Income (Loss) Attributable to Noncontrolling Interest			34	$ 9	67	$ 19
Additional Paid-in Capital
Noncash or Part Noncash Divestitures [Line Items]
Impact on equity of sale of noncontrolling interest in subsidiary	$ 285				285
Atmus Filtration Technologies Inc.
Noncash or Part Noncash Divestitures [Line Items]
Exchange of stock, percentage of ownership exchanged	19.50%
Sale of Stock, Number of Shares Issued in Transaction	16,000
Sale of Stock, Price Per Share							$ 19.50
Proceeds from Issuance or Sale of Equity	$ 299
Cash Transferred From Subsidiary to Parent	$ 650
Cash and cash equivalents			130		130
Net Income (Loss) Attributable to Noncontrolling Interest			$ 7		$ 10

ACQUISITIONS (Details)

ACQUISITIONS (Details) - USD ($) $ in Millions						3 Months Ended			9 Months Ended
	Jun. 29, 2023	Apr. 03, 2023	Aug. 03, 2022	Apr. 08, 2022	Feb. 07, 2022	Sep. 30, 2023	Jun. 30, 2023	Sep. 30, 2022	Sep. 30, 2022	Jul. 31, 2023	Dec. 31, 2022
Business Acquisition [Line Items]
Goodwill						$ 2,379					$ 2,343
Redeemable Noncontrolling Interest, Equity, Carrying Amount	$ 0					0					258
Accounts payable (principally trade)						4,262					4,252
Hydrogenics promissory notes, due 2024 and 2025 (2)
Business Acquisition [Line Items]
Unsecured Debt						160					$ 0
Hydrogenics Corporation
Business Acquisition [Line Items]
Business Acquisition, Percentage of Voting Interests Acquired	19%
Payments to Acquire Businesses, Gross	$ 287
Payments to Acquire Businesses Liabilities Paid	48
Other Commitment	335
Goodwill	0
Intangible assets	$ 0
Loans Payable										$ 175
Long-Term Debt, net of unamortized debt discount						145
Teskid Hierro de Mexico
Business Acquisition [Line Items]
Business Acquisition, Percentage of Voting Interests Acquired		100%
Payments to Acquire Businesses, Gross		$ 143
Payments to Acquire Businesses Liabilities Paid		0
Total Purchase Consideration		143
Goodwill		18
Intangible assets		0
Accounts payable (principally trade)		32
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment		90
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Cash and Equivalents		$ 16
Goodwill, Purchase Accounting Adjustments						$ 7
Meritor Inc.
Business Acquisition [Line Items]
Business Acquisition, Percentage of Voting Interests Acquired			100%
Payments to Acquire Businesses, Gross			$ 2,613
Payments to Acquire Businesses Liabilities Paid			248
Total Purchase Consideration			2,861
Goodwill			926
Intangible assets			$ 1,610
Goodwill, Purchase Accounting Adjustments							$ 26
Contingent Liability, Purchase Accounting Adjustments							$ 62
Business Acquisition, Pro Forma Revenue								$ 7,734	$ 23,071
Business Acquisition, Pro Forma Net Income (Loss)								$ 397	$ 1,565
Jacobs Vehicle Systems
Business Acquisition [Line Items]
Business Acquisition, Percentage of Voting Interests Acquired				100%
Payments to Acquire Businesses, Gross				$ 345
Payments to Acquire Businesses Liabilities Paid				0
Total Purchase Consideration				345
Goodwill				108
Intangible assets				$ 164
Westport Fuel System Inc.
Business Acquisition [Line Items]
Business Acquisition, Percentage of Voting Interests Acquired					50%
Payments to Acquire Businesses, Gross					$ 42
Payments to Acquire Businesses Liabilities Paid					0
Total Purchase Consideration					42
Goodwill					0
Intangible assets					$ 20

OPERATING SEGMENTS (Details)

OPERATING SEGMENTS (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Segment reporting
Net Sales	$ 8,431	$ 7,333	$ 25,522	$ 20,304
Research, development and engineering expenses	376	348	1,110	945
Income (Loss) from Equity Method Investments	118	70	370	261
Russian suspension costs (recoveries)		1	0	112
Interest expense	97	61	283	112
Depreciation and amortization	255	215	756	541
INCOME BEFORE INCOME TAXES	878	608	2,856	2,041
Amortization of Debt Discount (Premium)			4	3
Impairment of Equity Method Investment		0		31
Joint Venture with KAMAZ
Segment reporting
Impairment of Equity Method Investment				28
Royalty charges
Segment reporting
Impairment of Equity Method Investment				3
Components
Segment reporting
Net Sales	3,236	2,703	10,218	6,641
Research, development and engineering expenses	93	87	287	236
Income (Loss) from Equity Method Investments	26	17	71	54
Interest income	8	4	21	7
Russian suspension costs (recoveries)		1		5
Segment EBITDA	441	297	1,434	969
Depreciation and amortization	120	95	368	187
Atmus separation costs	20	10	50	15
Meritor acquisition and integration costs		45		56
Engine
Segment reporting
Net Sales	2,931	2,779	8,905	8,307
Research, development and engineering expenses	159	140	441	365
Income (Loss) from Equity Method Investments	62	27	198	127
Interest income	4	3	14	8
Russian suspension costs (recoveries)		0		33
Segment EBITDA	395	362	1,277	1,173
Depreciation and amortization	59	51	166	151
Distribution
Segment reporting
Net Sales	2,535	2,239	7,536	6,609
Research, development and engineering expenses	14	13	43	39
Income (Loss) from Equity Method Investments	22	20	70	57
Interest income	9	4	24	9
Russian suspension costs (recoveries)		0		55
Segment EBITDA	306	225	940	632
Depreciation and amortization	28	29	84	86
Power Systems
Segment reporting
Net Sales	1,444	1,349	4,244	3,712
Research, development and engineering expenses	60	62	189	184
Income (Loss) from Equity Method Investments	11	10	42	31
Interest income	3	3	7	5
Russian suspension costs (recoveries)		0		19
Segment EBITDA	234	193	654	411
Depreciation and amortization	30	30	91	92
Accelera
Segment reporting
Net Sales	103	50	273	123
Research, development and engineering expenses	50	46	150	121
Income (Loss) from Equity Method Investments	(3)	(4)	(11)	(8)
Interest income	0	0	1	0
Russian suspension costs (recoveries)		0
Segment EBITDA	(114)	(95)	(322)	(239)
Depreciation and amortization	18	10	47	25
Total Segments
Segment reporting
Net Sales	10,249	9,120	31,176	25,392
Research, development and engineering expenses	376	348	1,110	945
Income (Loss) from Equity Method Investments	118	70	370	261
Interest income	24	14	67	29
Russian suspension costs (recoveries)		1		112
Segment EBITDA	1,262	982	3,983	2,946
Depreciation and amortization	255	215	756	541
Corporate and Other
Segment reporting
Segment EBITDA	(32)	(98)	(88)	(252)
Atmus separation costs	6	6	17	47
External Sales | Components
Segment reporting
Net Sales	2,780	2,220	8,747	5,214
External Sales | Engine
Segment reporting
Net Sales	2,236	2,063	6,751	6,204
External Sales | Distribution
Segment reporting
Net Sales	2,519	2,232	7,494	6,590
External Sales | Power Systems
Segment reporting
Net Sales	798	773	2,271	2,190
External Sales | Accelera
Segment reporting
Net Sales	98	45	259	106
External Sales | Total Segments
Segment reporting
Net Sales	8,431	7,333	25,522	20,304
Intersegment sales | Components
Segment reporting
Net Sales	456	483	1,471	1,427
Intersegment sales | Engine
Segment reporting
Net Sales	695	716	2,154	2,103
Intersegment sales | Distribution
Segment reporting
Net Sales	16	7	42	19
Intersegment sales | Power Systems
Segment reporting
Net Sales	646	576	1,973	1,522
Intersegment sales | Accelera
Segment reporting
Net Sales	5	5	14	17
Intersegment sales | Total Segments
Segment reporting
Net Sales	$ 1,818	$ 1,787	$ 5,654	$ 5,088

RECENTLY ADOPTED AND RECENTLY_2

RECENTLY ADOPTED AND RECENTLY ISSUED ACCOUNTING PRONOUNCEMENTS (Details) - Accounting Standards Update 2022-04	9 Months Ended
	Sep. 30, 2023
Accounting Standards Update and Change in Accounting Principle [Abstract]
New Accounting Pronouncement or Change in Accounting Principle, Description	In September 2022, the Financial Accounting Standards Board issued a standard related to the disclosure of additional information about the use of supplier finance programs. Under the new standard, entities are required to disclose (1) key terms of the programs, (2) the amount outstanding that remains unpaid as of the end of the period, including where amounts are recorded in the balance sheets and (3) an annual rollforward of those obligations, including the amount of obligations confirmed and the amount of obligations subsequently paid. We adopted the new standard on January 1, 2023, on a retrospective basis other than the rollforward, which we currently plan to early adopt on a prospective basis beginning with our 2023 annual financial statements. The adoption did not have a material impact on our financial statements. See "Supply Chain Financing" section in NOTE 1, "NATURE OF OPERATIONS AND BASIS OF PRESENTATION," for additional information.
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
New Accounting Pronouncement or Change in Accounting Principle, Description	In September 2022, the Financial Accounting Standards Board issued a standard related to the disclosure of additional information about the use of supplier finance programs. Under the new standard, entities are required to disclose (1) key terms of the programs, (2) the amount outstanding that remains unpaid as of the end of the period, including where amounts are recorded in the balance sheets and (3) an annual rollforward of those obligations, including the amount of obligations confirmed and the amount of obligations subsequently paid. We adopted the new standard on January 1, 2023, on a retrospective basis other than the rollforward, which we currently plan to early adopt on a prospective basis beginning with our 2023 annual financial statements. The adoption did not have a material impact on our financial statements. See "Supply Chain Financing" section in NOTE 1, "NATURE OF OPERATIONS AND BASIS OF PRESENTATION," for additional information.

SUBSEQUENT EVENT (Details)

SUBSEQUENT EVENT (Details) € in Millions, $ in Millions				9 Months Ended
	Oct. 31, 2023 USD ($)	Oct. 02, 2023 USD ($)	Oct. 02, 2023 EUR (€)	Sep. 30, 2023 USD ($)	Sep. 30, 2022 USD ($)
Subsequent Event [Line Items]
Repayment of Long-Term Debt, Long-Term Lease Obligation, and Capital Security				$ 391	$ 1,070
Term loan, due 2025 (3) (4)
Subsequent Event [Line Items]
Repayment of Long-Term Debt, Long-Term Lease Obligation, and Capital Security				$ 200
Subsequent Event | Term loan, due 2025 (3) (4)
Subsequent Event [Line Items]
Repayment of Long-Term Debt, Long-Term Lease Obligation, and Capital Security	$ 150
Subsequent Event | Senior notes, due 2023 (1)
Subsequent Event [Line Items]
Repayment of Long-Term Debt, Long-Term Lease Obligation, and Capital Security		$ 500
Subsequent Event | Faurecia
Subsequent Event [Line Items]
Total Purchase Consideration | €			€ 199