CONSOLIDATED BALANCE SHEETS - USD ($) shares in Millions, $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Statement of Financial Position [Abstract]
Common stock, par value (in dollars per share)	$ 2.50
Common stock, shares authorized	500.0
Common stock, shares issued	222.5	222.5
Treasury Stock, Common, Shares	80.7	81.2
Current assets
Cash and cash equivalents	$ 2,179	$ 2,101
Marketable securities	562	472
Cash, cash equivalents and marketable securities	2,741	2,573
Accounts and notes receivable, net
Trade and other	5,583	5,202
Inventories (Note 7)	5,677	5,603
Prepaid expenses and other current assets	1,197	1,073
Total current assets	15,198	14,451
Long-term assets
Property, plant and equipment, net (Note 8)	6,249	5,521
Investments and advances related to equity method investees (Note 4)	1,800	1,759
Goodwill (Note 10)	2,499	2,343
Other intangible assets, net (Note 10)	2,519	2,687
Pension assets (Note 11)	1,197	1,398
Other assets	2,543	2,140
Total assets	32,005	30,299
Current liabilities
Accounts payable (principally trade)	4,260	4,252
Loans payable (Note 13)	280	210
Commercial paper (Note 13)	1,496	2,574
Current maturities of long-term debt (Note 13)	118	573
Accrued compensation, benefits and retirement costs	1,108	617
Current portion of accrued product warranty (Note 14)	667	726
Current portion of deferred revenue (Note 3)	1,220	1,004
Other accrued expenses (Note 12)	3,754	1,465
Total current liabilities	12,903	11,421
Long-term liabilities
Long-term debt (Note 13)	4,802	4,498
Deferred revenue (Note 3)	966	844
Other liabilities	3,430	3,311
Total liabilities	22,101	20,074
Commitments and contingencies (Note 15)
Redeemable Noncontrolling Interest, Equity, Carrying Amount	0	258
Cummins Inc. shareholders’ equity (Note 16)
Common stock, $2.50 par value, 500 shares authorized, 222.5 and 222.5 shares issued	2,564	2,243
Retained earnings	17,851	18,037
Treasury stock, at cost, 80.7 and 81.2 shares	(9,359)	(9,415)
Accumulated other comprehensive loss (Note 17)	(2,206)	(1,890)
Total Cummins Inc. shareholders' equity	8,850	8,975
Noncontrolling interests (Note 18)	1,054	992
Total equity	9,904	9,967
Total liabilities, redeemable noncontrolling interests and equity	$ 32,005	$ 30,299

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- Definition

Carrying value as of the balance sheet date of liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).