ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Tables)

6 Months Ended

Jun. 30, 2023

Equity [Abstract]

Changes in accumulated other comprehensive loss by component

Following are the changes in accumulated other comprehensive income (loss) by component for the three months ended:

In millions	Change in pension and OPEB plans		Foreign currency translation adjustment		Unrealized gain (loss) on derivatives			Total attributable to Cummins Inc.		Noncontrolling interests		Total
Balance at March 31, 2023	$	(436)	$	(1,473)	$	86		$	(1,823)
Other comprehensive income (loss) before reclassifications
Before-tax amount	—		(111)		18			(93)		$	(2)	$	(95)
Tax benefit (expense)	—		3		(2)			1		—		1
After-tax amount	—		(108)		16			(92)		(2)		(94)
Amounts reclassified from accumulated other comprehensive income (loss) (1)	2		—		(4)			(2)		—		(2)
Net current period other comprehensive income (loss)	2		(108)		12			(94)		$	(2)	$	(96)
Balance at June 30, 2023	$	(434)	$	(1,581)	$	98		$	(1,917)
Balance at March 31, 2022	$	(330)	$	(1,196)	$	11		$	(1,515)
Other comprehensive income (loss) before reclassifications
Before-tax amount	—		(235)		59			(176)		$	(15)	$	(191)
Tax benefit (expense)	1		5		(15)			(9)		—		(9)
After-tax amount	1		(230)		44			(185)		(15)		(200)
Amounts reclassified from accumulated other comprehensive income (loss) (1)	5		—		(1)			4		—		4
Net current period other comprehensive income (loss)	6		(230)		43		(2)	(181)		$	(15)	$	(196)
Balance at June 30, 2022	$	(324)	$	(1,426)	$	54		$	(1,696)
(1) Amounts are net of tax. Reclassifications out of accumulated other comprehensive income (loss) and the related tax effects are immaterial for separate disclosure.
(2) Primarily related to interest rate lock activity. See the Interest Rate Risk section in NOTE 13, "DERIVATIVES," for additional information.

Following are the changes in accumulated other comprehensive income (loss) by component for the six months ended:

In millions	Change in pension and OPEB plans		Foreign currency translation adjustment		Unrealized gain (loss) on derivatives			Total attributable to Cummins Inc.		Noncontrolling interests		Total
Balance at December 31, 2022	$	(427)	$	(1,552)	$	89		$	(1,890)
Other comprehensive income (loss) before reclassifications
Before-tax amount	(13)		(36)		15			(34)		$	1	$	(33)
Tax benefit (expense)	2		7		(1)			8		—		8
After-tax amount	(11)		(29)		14			(26)		1		(25)
Amounts reclassified from accumulated other comprehensive income (loss) (1)	4		—		(5)			(1)		—		(1)
Net current period other comprehensive (loss) income	(7)		(29)		9			(27)		$	1	$	(26)
Balance at June 30, 2023	$	(434)	$	(1,581)	$	98		$	(1,917)
Balance at December 31, 2021	$	(346)	$	(1,208)	$	(17)		$	(1,571)
Other comprehensive income (loss) before reclassifications
Before-tax amount	14		(224)		95			(115)		$	(23)	$	(138)
Tax (expense) benefit	(3)		6		(22)			(19)		—		(19)
After-tax amount	11		(218)		73			(134)		(23)		(157)
Amounts reclassified from accumulated other comprehensive income (loss) (1)	11		—		(2)			9		—		9
Net current period other comprehensive income (loss)	22		(218)		71		(2)	(125)		$	(23)	$	(148)
Balance at June 30, 2022	$	(324)	$	(1,426)	$	54		$	(1,696)
(1) Amounts are net of tax. Reclassifications out of accumulated other comprehensive income (loss) and the related tax effects are immaterial for separate disclosure.
(2) Primarily related to interest rate lock activity. See the Interest Rate Risk section in NOTE 13, "DERIVATIVES," for additional information.