2 unchanged sentences
SHAREHOLDERS' EQUITY," to the Consolidated Financial Statements .
+Added: At December 31, 2021, there were approximately 2,525 holders of record of Cummins Inc.'s $2.50 par value common stock.
The following information is provided pursuant to Item 703 of Regulation S-K:
10 unchanged sentences
(in millions) (2)
−Removed: September 28 - November 1 — $ — — $ 2,085
−Removed: November 2 - November 29 — — — 2,085
+Added: October 4 - November 7 263,999 $ 232.40 263,999 $ 704
November 8 - December 5 91,173 221.23 91,173 684
+Added: December 6 - December 31 426,672 215.99 426,672 2,592
Total 781,844 222.14 781,844
1 unchanged sentence
(2) Shares repurchased under our Key Employee Stock Investment Plan only occur in the event of a participant default, which cannot be predicted, and were excluded from this column.
+Added: In December 2021, the Board of Directors (the Board) authorized the acquisition of up to $2.0 billion of additional common stock upon completion of the 2019 repurchase plan.
In December 2019, the Board authorized the acquisition of up to $2.0 billion of additional common stock upon completion of the 2018 repurchase plan.
−Removed: In October 2018, the Board authorized the acquisition of up to $2.0 billion of additional common stock.
−Removed: During the three months ended December 31, 2020, we repurchased $85 million of common stock under the 2018 authorization, completing this program, and repurchased $6 million of common stock under the 2019 authorization.
+Added: During the three months ended December 31, 2021, we repurchased $174 million of common stock under the 2019 authorization.
The dollar value remaining available for future purchases under the 2019 program at December 31, 2021, was $592 million.
1 unchanged sentence
We hold participants’ shares as security for the loans and would, in effect, repurchase shares only if the participant defaulted in repayment of the loan.
−Removed: Shares associated with participants' sales are sold as open-market transactions via a third-party broker as of May 1, 2020.
+Added: Shares associated with participants' sales are sold as open-market transactions via a third-party broker.
Performance Graph (Unaudited)
2 unchanged sentences
Our peer group includes BorgWarner Inc., Caterpillar, Inc., Daimler AG, Deere & Company, Donaldson Company Inc., Eaton Corporation, Emerson Electric Co., Fortive Corporation, W.W.
−Removed: Grainger Inc., Honeywell International, Illinois Tool Works Inc., Navistar, PACCAR, Parker-Hannifin Corporation, Textron Inc.
−Removed: and Volvo AB (Fortive Corporation is excluded from the peer index in the following graph as the company was founded after December 31, 2015).
+Added: Grainger Inc., Honeywell International, Illinois Tool Works Inc., PACCAR, Parker-Hannifin Corporation, Textron Inc.
+Added: and Volvo AB.
Each of the measures of cumulative total return assumes reinvestment of dividends.
5 unchanged sentences
FISCAL YEAR ENDING DECEMBER 31, 2021
−Removed: Selected Financial Data
−Removed: The selected financial information presented below for each of the last five years ended December 31, beginning with 2020, was derived from our Consolidated Financial Statements .
−Removed: This information should be read in conjunction with our Consolidated Financial Statements and related notes and "Management's Discussion and Analysis of Financial Condition and Results of Operations."
−Removed: In millions, except per share amounts 2020 2019 2018 2017 2016
−Removed: For the years ended December 31,
−Removed: Net sales $ 19,811 $ 23,571 $ 23,771 $ 20,428 $ 17,509
−Removed: Net income attributable to Cummins Inc.
−Removed: 1,789 2,260 2,141 999 1,394
−Removed: Earnings per common share attributable to Cummins Inc.
−Removed: Basic $ 12.07 $ 14.54 $ 13.20 $ 5.99 $ 8.25
−Removed: Diluted 12.01 14.48 13.15 5.97 8.23
−Removed: Cash dividends declared per share 5.28 4.90 4.44 4.21 4.00
−Removed: At December 31,
−Removed: Total assets 22,624 19,737 19,062 18,075 15,011
−Removed: Long-term debt 3,610 1,576 1,597 1,588 1,568
−Removed: (1) For the year ended December 31, 2019, net income attributable to Cummins Inc.
−Removed: was reduced by $119 million due to restructuring actions ($90 million after-tax).
−Removed: For the year ended December 31, 2018, net income attributable to Cummins Inc.
−Removed: was reduced by $39 million due to Tax Legislation.
−Removed: For the year ended December 31, 2017, net income attributable to Cummins Inc.
−Removed: was reduced by $777 million due to Tax Legislation.
−Removed: For the year ended December 31, 2016, net income attributable to Cummins Inc.
−Removed: included a $138 million charge for a loss contingency ($74 million net of favorable variable compensation impact after-tax).
−Removed: (2) For the year ended December 31, 2019, results for basic and diluted earnings per share were reduced by $0.58 per share and $0.57 per share, respectively, due to restructuring actions.
−Removed: For the year ended December 31, 2018, results for basic and diluted earnings per share were reduced by $0.24 per share due to Tax Legislation.
−Removed: For the year ended December 31, 2017, results for basic and diluted earnings per share were reduced by $4.66 per share and $4.65 per share, respectively, due to Tax Legislation.
−Removed: For the year ended December 31, 2016, results for basic and diluted earnings per share were reduced by $0.44 per share due to a loss contingency charge.
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.