CUMMINS INC. (CMI) FY2026 Q1 Statement of Cash Flows

Income StatementCash FlowBalance Sheet

Statement of Cash Flows

2026-01-01 to 2026-03-31

Swipe to see the full flow
CUMMINS INC. cash flow reconciliation, Jan 1, 2026 through Mar 31, 2026One connected Sankey reconciles operating, investing and financing net cash flows through a shared cash pool, from beginning cash to ending cash. Ribbons flow left to right on one dollar scale. Activity totals are dark gray; beginning and ending cash are blue. Cash basis for beginning and ending balances and net cash change: Cash, cash equivalents, and restricted cash. Intermediate calculation bars are lighter gray. Net income is green for profit and red for loss. Identified asset purchases, sales and maturities are blue in either cash direction. Purple identifies capital transactions such as borrowing, repayments, share issuance and dividends. Free cash flow is a separate comparison, not an added cash flow. Read chart description and values below for full signed amounts, including zero items.Consolidated net income → Net cash from operating activities: $309,000,000.00Consolidated net income → Operating adjustments reconciliation: $371,000,000.00Accounts payable → Operating adjustments reconciliation: $629,000,000.00Depreciation and amortization → Operating adjustments reconciliation: $282,000,000.00Other, net → Operating adjustments reconciliation: $38,000,000.00Pension and OPEB expense (Note 3) → Operating adjustments reconciliation: $19,000,000.00Operating adjustments reconciliation → Accounts and notes receivable: $678,000,000.00Operating adjustments reconciliation → Inventories: $333,000,000.00Operating adjustments reconciliation → Accrued expenses: $167,000,000.00Operating adjustments reconciliation → Equity in income of investees, net of dividends: $86,000,000.00Operating adjustments reconciliation → Other current assets: $50,000,000.00Operating adjustments reconciliation → Pension contributions and OPEB payments (Note 3): $13,000,000.00Operating adjustments reconciliation → Deferred income taxes: $12,000,000.00Investments in marketable securities—liquidations (Note 6) → investing reconciliation: $407,000,000.00Other, net → investing reconciliation: $4,000,000.00investing reconciliation → Investments in marketable securities—acquisitions: $232,000,000.00investing reconciliation → Capital expenditures: $189,000,000.00Net cash used in financing activities → financing reconciliation: $517,000,000.00Proceeds from borrowings → financing reconciliation: $213,000,000.00financing reconciliation → Dividend payments on common stock: $276,000,000.00financing reconciliation → Repurchases of common stock: $243,000,000.00financing reconciliation → Payments on borrowings and finance lease obligations: $108,000,000.00financing reconciliation → Other, net: $99,000,000.00financing reconciliation → Net (payments) borrowings of commercial paper: $4,000,000.00Net cash used in investing activities → investing reconciliation: $10,000,000.00Beginning cash: Cash, cash equivalents, and restricted cash → Cash sources and uses: $2,845,000,000.00Net cash from operating activities → Cash sources and uses: $309,000,000.00Cash sources and uses → Exchange-rate effect: $13,000,000.00Cash sources and uses → Ending cash: Cash, cash equivalents, and restricted cash: $2,614,000,000.00Cash sources and uses → Net cash used in investing activities: $10,000,000.00Cash sources and uses → Net cash used in financing activities: $517,000,000.00Consolidated net income: $680,000,000.00Consolidated net income+$680.00 MDepreciation and amortization: $282,000,000.00Depreciation & amortization+$282.00 MDeferred income taxes: -$12,000,000.00Deferred taxes & credits−$12.00 MEquity in income of investees, net of dividends: -$86,000,000.00Equity-method income, net−$86.00 MPension and OPEB expense (Note 3): $19,000,000.00Pension & benefit plans, net+$19.00 MPension contributions and OPEB payments (Note 3): -$13,000,000.00Pension & retiree contributions−$13.00 MAccounts and notes receivable: -$678,000,000.00Accounts & notes receivable−$678.00 MInventories: -$333,000,000.00Inventories−$333.00 MOther current assets: -$50,000,000.00Other operating assets−$50.00 MAccounts payable: $629,000,000.00Accounts payable+$629.00 MAccrued expenses: -$167,000,000.00Accrued liabilities−$167.00 MOther, net: $38,000,000.00Other operating, net+$38.00 MNet cash from operating activities: $309,000,000.00Operating cash+$309.00 MOperating adjustments reconciliation: $1,339,000,000.00Proceeds from borrowings: $213,000,000.00Long-term debt issued+$213.00 MNet (payments) borrowings of commercial paper: -$4,000,000.00Commercial paper, net−$4.00 MPayments on borrowings and finance lease obligations: -$108,000,000.00Debt & capital securities repaid−$108.00 MDividend payments on common stock: -$276,000,000.00Dividends paid−$276.00 MRepurchases of common stock: -$243,000,000.00Common stock repurchases−$243.00 MOther, net: -$99,000,000.00Other financing, net−$99.00 MNet cash used in financing activities: -$517,000,000.00. Cash required to fund net payments.Financing cash−$517.00 Mfinancing reconciliation: $730,000,000.00Capital expenditures: -$189,000,000.00PP&E purchases−$189.00 MInvestments in marketable securities—acquisitions: -$232,000,000.00Marketable securities purchases−$232.00 MInvestments in marketable securities—liquidations (Note 6): $407,000,000.00Marketable securities proceeds+$407.00 MOther, net: $4,000,000.00Other investing, net+$4.00 MNet cash used in investing activities: -$10,000,000.00. Cash required to fund net payments.Investing cash−$10.00 Minvesting reconciliation: $421,000,000.00Cash sources and uses: $3,154,000,000.00Beginning cash: Cash, cash equivalents, and restricted cash: $2,845,000,000.00Beginning cash$2.85 BEnding cash: Cash, cash equivalents, and restricted cash: $2,614,000,000.00Ending cash$2.61 BExchange-rate effect: -$13,000,000.00FX effect−$13.00 MCASH RECONCILIATIONOperatingflowsInvestingflowsFinancingflowsFree cash flow$120.00 MOperating cash − cash spent on PP&ECash flow / Net income0.45×Operating cash flow ÷ net incomeNet cash change−$231.00 MEnding cash − beginning cash
Chart details

CUMMINS INC. cash flow reconciliation, Jan 1, 2026 through Mar 31, 2026

Cash flows for Jan 1, 2026 through Mar 31, 2026. Cash basis: Cash, cash equivalents, and restricted cash. Beginning cash: Dec 31, 2025. Ending cash: Mar 31, 2026. Beginning and ending cash are dated balances. Positive cash flows add cash; negative cash flows reduce it.

Beginning cash on Dec 31, 2025
2,845,000,000 US dollars. Beginning cash: Cash, cash equivalents, and restricted cash
Operating activities
309,000,000 US dollars. Net cash provided.
Consolidated net income
680,000,000 US dollars
Depreciation and amortization
282,000,000 US dollars
Deferred income taxes
negative 12,000,000 US dollars
Equity in income of investees, net of dividends
negative 86,000,000 US dollars
Pension and OPEB expense (Note 3)
19,000,000 US dollars
Pension contributions and OPEB payments (Note 3)
negative 13,000,000 US dollars
Accounts and notes receivable
negative 678,000,000 US dollars
Inventories
negative 333,000,000 US dollars
Other current assets
negative 50,000,000 US dollars
Accounts payable
629,000,000 US dollars
Accrued expenses
negative 167,000,000 US dollars
Other, net
38,000,000 US dollars
Investing activities
negative 10,000,000 US dollars. Net cash used.
Capital expenditures
negative 189,000,000 US dollars
Investments in marketable securities—acquisitions
negative 232,000,000 US dollars
Investments in marketable securities—liquidations (Note 6)
407,000,000 US dollars
Other, net
4,000,000 US dollars
Financing activities
negative 517,000,000 US dollars. Net cash used.
Proceeds from borrowings
213,000,000 US dollars
Net (payments) borrowings of commercial paper
negative 4,000,000 US dollars
Payments on borrowings and finance lease obligations
negative 108,000,000 US dollars
Dividend payments on common stock
negative 276,000,000 US dollars
Repurchases of common stock
negative 243,000,000 US dollars
Other, net
negative 99,000,000 US dollars
Operating adjustment reconciliation
1,339,000,000 US dollars. Intermediate calculation joining the operating reconciliation branches. Its gross amount includes any portion of net income routed through this junction. It is not an additional cash source or use.
financing gross reconciliation
730,000,000 US dollars. Gross amount at the activity's junction before offsetting its receipts and deductions. It is not an additional cash source or use.
investing gross reconciliation
421,000,000 US dollars. Gross amount at the activity's junction before offsetting its receipts and deductions. It is not an additional cash source or use.
Exchange-rate effect
negative 13,000,000 US dollars
Ending cash on Mar 31, 2026
2,614,000,000 US dollars. Ending cash: Cash, cash equivalents, and restricted cash
Cash sources and uses
3,154,000,000 US dollars. Opening cash plus net sources, equal to net uses plus ending cash.
Net cash change
negative 231,000,000 US dollars. Ending cash minus beginning cash.
Cash flow / Net income
0.45×. Operating cash flow divided by reconciliation net income for the same period. Black from 0.90× through 1.10×; green above 1.10×; red below 0.90×. Color uses the unrounded ratio.
Operating cash flow
309,000,000 US dollars. Operating cash flow used in the free cash flow calculation.
Cash purchases of property, plant and equipment
189,000,000 US dollars. These cash purchases are already included in investing activities above.
Free cash flow
120,000,000 US dollars. A supplemental measure; finance-lease payments are excluded from this definition.

Chart connections

  • Beginning cash plus operating, investing and financing cash flows plus the exchange-rate effect equals ending cash. Negative amounts reduce cash.
  • Financing contributions meet at a reconciliation junction before connecting to the net cash total.
  • Investing contributions meet at a reconciliation junction before connecting to the net cash total.
  • Operating reconciliation adjustments are not all independent cash receipts.
  • Net income exceeds operating cash. The diagram allocates $309.00M of net income directly to operating cash and $371.00M to the adjustment junction, where it combines with other additions to reconcile deductions. This is an accounting presentation, not a tracing of cash receipts.
  • Each activity has one net cash bar connected to the shared cash pool. Positive activity totals enter the pool; negative activity totals leave the pool to fund that activity's net payments. The central pool does not assign a particular funding source to a particular payment.
  • The intermediate calculation bars include both sides of the displayed activity breakdowns; they are not additional cash flows.
  • Operating cash flow minus cash purchases of property, plant and equipment equals free cash flow: 309,000,000 US dollars minus 189,000,000 US dollars equals 120,000,000 US dollars.
CUMMINS INC. (CMI) FY2026 Q1 Statement of Cash Flows Sankey chart
Free to share unchanged, with credit to Plicit.ai · CC BY-NC-ND 4.0Download PNG

Newsletter

Get the teardowns by email

Subscribe if you want the public-company teardowns in your inbox when they're released.

Product waitlist

Health Check and Teardown for your own company

A health check uncovers insights of your private books, not a public ticker. Join this list to get notified as soon as we go-live!