For the quarter ending 2026-03-31, CMI had -$231M decrease in cash & cash equivalents over the period. $120M in free cash flow.
| Cash Flow | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 |
|---|---|---|---|---|
| Consolidated net income | 680 | 620 | 559 | 928 |
| Gain related to divestiture of atmus (note 21) | - | 0 | 0 | 0 |
| Depreciation and amortization | 282 | 280 | 277 | 279 |
| Deferred income taxes | -12 | 18 | 206 | -113 |
| Equity in income of investees, net of dividends | 86 | 17 | -50 | 18 |
| Pension and opeb expense (note 3) | 19 | 19 | 21 | 20 |
| Pension contributions and opeb payments (note 3) | 13 | 17 | 12 | 13 |
| Accounts and notes receivable | 678 | 146 | -177 | 186 |
| Inventories | 333 | -407 | 10 | 105 |
| Other current assets | 50 | -80 | -26 | 136 |
| Accounts payable | 629 | -1 | -295 | -182 |
| Accrued expenses | -167 | 205 | 43 | 243 |
| Other, net | 38 | 86 | 263 | 68 |
| Net cash provided by (used in) operating activities | 309 | 1,534 | 1,305 | 785 |
| Capital expenditures | 189 | 544 | 298 | 231 |
| Investments in and net advances (to) from equity investees | - | 133 | 9 | -6 |
| Acquisition of businesses, net of cash acquired (note 23) | - | 0 | 0 | 0 |
| Investments in marketable securitiesacquisitions | 232 | 494 | 350 | 326 |
| Investments in marketable securitiesliquidations (note 6) | 407 | 319 | 495 | 204 |
| Cash associated with atmus divestiture | - | 0 | 0 | 0 |
| Other, net | -4 | 33 | 69 | 22 |
| Net cash used in investing activities | -10 | -885 | -231 | -369 |
| Proceeds from borrowings | 213 | 103 | 86 | 2,094 |
| Net (payments) borrowings of commercial paper | -4 | 0 | 0 | -1,387 |
| Payments on borrowings and finance lease obligations | 108 | 148 | 617 | 66 |
| Dividend payments on common stock | 276 | 277 | 276 | 251 |
| Payments for purchase of redeemable noncontrolling interests | - | 55 | 0 | 55 |
| Repurchases of common stock | 243 | - | - | - |
| Other, net | -99 | 8 | -20 | -3 |
| Net cash (used in) provided by financing activities | -517 | -369 | -827 | 332 |
| Effect of exchange rate changes on cash and cash equivalents | -13 | -1 | 0 | 39 |
| Net decrease in cash and cash equivalents | -231 | 279 | 247 | 787 |
| Cash and cash equivalents at beginning of year | 2,845 | 2,566 | 2,319 | 1,532 |
| Cash and cash equivalents at end of period | 2,614 | 2,845 | 2,566 | 2,319 |
CUMMINS INC (CMI)
CUMMINS INC (CMI)