Cummins (CMI) Income Statement

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NET SALES (a)	4.19B
Cost of sales	3.11B
GROSS MARGIN	1.08B
Selling, general and administrative expenses	513M
Research, development and engineering expenses	157M
Equity, royalty and interest income from investees (Note 6)	74M
Gain on sale of business (Note 4)
Other operating (expense) income, net	0
OPERATING INCOME	384M
Interest income	6M
Interest expense	16M
Other income (expense), net	8M
INCOME BEFORE INCOME TAXES	382M
Income tax expense	82M
CONSOLIDATED NET INCOME	300M
Less: Net income attributable to noncontrolling interests	11M
NET INCOME ATTRIBUTABLE TO CUMMINS INC.
Basic (in dollars per share)	1.72
Diluted (in dollars per share)	1.72
Basic (in shares)	167.8M
Dilutive effect of stock compensation awards (in shares)	400K
Diluted (in shares)	168.2M
CASH DIVIDENDS DECLARED PER COMMON SHARE (in dollars per share)	1.03

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