CMI (Cummins) Long-Term Capital Lease Obligation : $414 Mil (As of Mar. 2025)

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What is Cummins Long-Term Capital Lease Obligation?

Cummins's Long-Term Capital Lease Obligation for the quarter that ended in Mar. 2025 was $414 Mil.

Cummins's quarterly Long-Term Capital Lease Obligation increased from Sep. 2024 ($393 Mil) to Dec. 2024 ($409 Mil) and increased from Dec. 2024 ($409 Mil) to Mar. 2025 ($414 Mil).

Cummins's annual Long-Term Capital Lease Obligation increased from Dec. 2022 ($368 Mil) to Dec. 2023 ($374 Mil) and increased from Dec. 2023 ($374 Mil) to Dec. 2024 ($409 Mil).

Cummins Long-Term Capital Lease Obligation Historical Data

The historical data trend for Cummins's Long-Term Capital Lease Obligation can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

Cummins Long-Term Capital Lease Obligation Chart

Cummins Annual Data

Trend

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Dec24

Long-Term Capital Lease Obligation

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325.00

326.00

368.00

374.00

409.00

Cummins Quarterly Data
	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24	Jun24	Sep24	Dec24	Mar25
Long-Term Capital Lease Obligation	Get a 7-Day Free Trial															332.00	333.00	393.00	409.00	414.00

Cummins (NYSE:CMI) Long-Term Capital Lease Obligation Explanation

Long-Term Capital Lease Obligation are the amount due for long-term asset lease agreements that are nearly equivalent to asset purchases. Capital lease obligations are installment payments that constitute a payment of principal plus interest for the capital lease. The Short-Term Capital Lease Obligation is the portion of a Long-Term Capital Lease Obligation that is due over the next year.

Under US Generally Accepted Accounting Principles (GAAP), a capital lease is essentially equivalent to a purchase by the lessee if it meets the following criteria:

1. Ownership of the asset is transferred to the lessee at the end of the lease term;
2. The lease contains a bargain purchase option to buy the equipment at less than fair market value;
3. The lease term equals or exceeds 75% of the asset's estimated useful life;
4. The present value of the lease payments equals or exceeds 90% of the total original cost of the equipment.

Cummins Long-Term Capital Lease Obligation Related Terms

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Cummins Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Industrials » Industrial Products » Cummins Inc (NYSE:CMI) » Definitions » Long-Term Capital Lease Obligation

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Address

500 Jackson Street, Box 3005, Columbus, IN, USA, 47202-3005

Website

https://www.cummins.com

Cummins is a leading manufacturer of diesel and other engines used in heavy- and medium-duty commercial trucks, off-highway equipment, and locomotives, in addition to prime power and standby generators. The company also sells powertrain components, which include filtration products, transmissions, turbochargers, aftertreatment systems, and fuel systems. Sales are approximately 60% US and Canada and 40% rest of world. Much of Cummins' foreign sales (China, India, and so forth) are through joint ventures. The company operates 650 distributors and over 19,000 dealer locations across 190 countries. Cummins' business model is unique as it competes with many of its heavy-duty truck manufacturer customers, who also make their own engines.

Executives

Mark Andrew Smith	officer: VP - Operations Finance	500 JACKSON STREET, COLUMBUS IN 47201
Jennifer Rumsey	officer: Chief Technical Officer	500 JACKSON STREET, COLUMBUS IN 47201
Sharon R Barner	officer: VP - General Counsel	500 JACKSON STREET, COLUMBUS IN 47201
Di Leo Allen Bruno V	director	INTERNATIONAL BUSINESS MACHINES CORP., C/O SEC'Y'S OFFICE, ONE NEW ORCHARD ROAD, ARMONK NY 10504
Donald G Jackson	officer: VP and Treasurer	500 JACKSON STREET, COLUMBUS IN 47201
Tony Satterthwaite	officer: President - Distribution	1400 73RD AVENUE NE, MINNEAPOLIS MN 55432
Jeffrey T Wiltrout	officer: VP - Corporate Strategy	500 JACKSON STREET, COLUMBUS IN 47201
Marvin Boakye	officer: VP - Chief Human Resources Off	PO BOX 99900, LOUISVILLE KY 40269
Daniel William Fisher	director	2526 SPRUCE MEADOWS DRIVE, BROOMFIELD CO 80023
Sherry A Aaholm	officer: Chief Information Officer	500 JACKSON STREET, COLUMBUS IN 47201
Luther E Peters	officer: VP - Corporate Controller	500 JACKSON STREET, COLUMBUS IN 47201
Jonathan David Wood	officer: Vice President & CTO	500 JACKSON STREET, COLUMBUS IN 47201
Georgia R Nelson	director	C/O TOWER AUTOMOTIVE INC, 27175 HAGGERTY ROAD, NOVI MI 48377-3626
Franklin R Changdiaz	director	500 JACKSON ST., M/C 60701, COLUMBUS IN 47201
Norman Thomas Linebarger	officer: President-Power Gen.