The divestiture of Atmus was completed on March 18, 2024, resulting in a decrease in sales and a reduction in certain operating expenses. The company recognized a gain of $1.3 billion from the divestiture.

Cummins continues to invest in new technologies, including hydrogen engine solutions, battery electric, fuel cell electric, and hydrogen production technologies. The company also formed a joint venture, Amplify Cell Technologies LLC, to accelerate battery cell production.

Certain businesses within the Components segment were realigned to combine engine components and software and electronics businesses. The axles and brakes business was rebranded as drivetrain and braking systems.

The divestiture of Atmus was completed on March 18, 2024, and resulted in a gain of $1.3 billion, demonstrating successful execution of a strategic divestiture.

Management continues to invest in new technologies and joint ventures, such as Amplify Cell Technologies LLC, to accelerate battery cell production and the battery supply chain in the U.S.

Management reached settlement agreements with the EPA, CARB, and other agencies to resolve regulatory civil claims regarding emissions certification and compliance. This involved a payment of $1.9 billion in Q2 2024.

The company faces continued scrutiny from regulatory agencies and unpredictability in the adoption, implementation, and enforcement of emission standards around the world.

The company is exposed to risks related to raw material, transportation, and labor price fluctuations and supply shortages, which could impact earnings.

The company's operations are affected by political, economic, and social uncertainty, as well as currency fluctuations and regulatory matters in various countries.

The company faces increasing competition, including global competition, among its customers in emerging markets, which could impact market share and profitability.

The company is developing new technologies that could reduce demand for its current products and services, which could impact its competitive position.

The company faces the risk of failing to meet environmental, social, and governance (ESG) expectations or standards, or achieve its ESG goals, which could impact its competitive position.

Cost of sales includes parts and material consumption, compensation and related expenses, depreciation, and other production-related costs, highlighting the complexity of the cost structure.

Selling, general, and administrative expenses decreased due to lower expenses resulting from the divestiture of Atmus, indicating improved operational efficiency.

Research and development expenses remain consistent as a percentage of net sales, indicating ongoing investment in innovation.

The company continues to invest in new technologies, including hydrogen engine solutions, battery electric, fuel cell electric, and hydrogen production technologies.

The company is also focused on improving current technologies to meet future emission standards, improve fuel economy, and enhance performance.

The company is actively engaged in development activities around hydrogen engine solutions, battery electric, fuel cell electric and hydrogen production technologies, indicating a focus on future-oriented technologies.

The company's debt to capital ratio increased to 41.5% at June 30, 2024, compared to 40.3% at December 31, 2023, primarily due to higher debt balances.

The Board authorized an increase to the quarterly dividend of approximately 8 percent from $1.68 per share to $1.82 per share in July 2024.

The company plans to spend an estimated $1.2 billion to $1.3 billion on capital expenditures in 2024, with over 65% of these expenditures expected to be invested in North America.

The company is subject to evolving environmental and climate change legislation and regulatory initiatives, which could impact its operations.

The company faces the risk of failing to meet environmental, social, and governance (ESG) expectations or standards, or achieve its ESG goals, which could impact its competitive position.

The company is focused on developing new technologies to meet future emission standards around the world and improve fuel economy performance of diesel and natural gas-powered engines.

The company anticipates continued strong demand for medium-duty trucks in North America, indicating a positive market environment for this segment.

The company expects market demand for trucks in India to remain strong, indicating a positive market environment in this region.

The company anticipates a modest weakening in demand for heavy-duty trucks in North America in the second half of 2024, indicating a potential shift in market conditions.