Meritor Acquisition and 2022 Financial Results
Table of Contents
CUMMINS INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF CASH FLOWS
In millions
CASH FLOWS FROM OPERATING ACTIVITIES
Consolidated net income
Adjustments to reconcile consolidated net income to net cash provided by operating activities
Depreciation and amortization
Deferred income taxes (Note 5)
Equity in income of investees, net of dividends
Pension and OPEB expense (Note 11)
Pension contributions and OPEB payments (Note 11)
Russian suspension costs, net of recoveries (Note 23)
Restructuring payments
Loss (gain) on corporate owned life insurance
Foreign currency remeasurement and transaction exposure
Changes in current assets and liabilities, net of acquisitions
Accounts and notes receivable
Inventories
Other current assets
Accounts payable
Accrued expenses
Changes in other liabilities
Other, net
Net cash provided by operating activities
CASH FLOWS FROM INVESTING ACTIVITIES
Capital expenditures
Acquisitions of businesses, net of cash acquired (Note 2)
Investments in marketable securities-acquisitions
Investments in marketable securities liquidations (Note 6)
Other, net
Net cash used in investing activities
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from borrowings (Note 13)
Net borrowings (payments) of commercial paper (Note 13)
Payments on borrowings and finance lease obligations
Dividend payments on common stock (Note 17)
Repurchases of common stock (Note 17)
Other, net
Net cash provided by (used in) financing activities
Net (decrease) increase in cash and cash equivalents
EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS
Cash and cash equivalents at beginning of year
CASH AND CASH EQUIVALENTS AT END OF PERIOD
The accompanying notes are an integral part of our Consolidated Financial Statements.
68
2022
Years ended December 31,
2021
2020
S
2,183
$
2,164 $
1,811
784
662
673
(274)
7
7
64
(83)
(105)
24
83
108
(85)
(102)
(121)
111
(1)
(110)
102
-
(57)
(27)
37
2
(697)
(174)
(51)
(567)
(945)
46
(109)
2
(39)
538
217
288
(170)
541
121
(1)
(6)
189
86
(146)
(40)
1,962
2,256
2,722
(916)
(734)
(528)
(3,191)
(1,073)
(806)
(593)
1,151
673
469
(143)
(6)
(67)
(4,172)
(873)
(719)
2,103
79
2,014
2,261
(10)
(337)
(1,550)
(73)
(73)
(855)
(809)
(782)
(374)
(1,402)
(641)
84
1,669
(12)
99
(2,227)
280
50
35
(11)
(491)
(809)
2,272
2,592
3,401
1,129
$
2,101
$
2,592
$
3,401View entire presentation