CMI · 10-Q · 2026Q2 · Full report

Outstanding Indebtedness

CUMMINS INC · 2026-08-04 · Importance 42 · Surprise 14 · In source text

Total debt was $7.695 billion at June 30, 2026, compared with $7.552 billion at December 31, 2025. Debt represented 35.6% of total capital, down from 36.0% at year-end 2025. Cummins maintained two unsecured revolving facilities totaling $4.0 billion, with maturities in June 2028 and June 2030, and had no borrowings under those facilities at June 30, 2026.

Key facts

• The 5-year credit facility for $2.0 billion maturing June 2030 and the 3-year credit facility for $2.0 billion maturing June 2028 are maintained primarily to provide backup liquidity for our commercial paper borrowings and general corporate purposes. source
• In the first half of 2026, we entered into a series of interest rate swaps to convert $350 million of our senior notes, due in 2054, from a fixed rate of 5.45 percent to a floating rate equal to the daily SOFR plus a spread. source
• Required annual long-term debt principal payments range from $63 million to $864 million over the next five years (including the remainder of 2026). source
• In the first half of 2026 Cummins entered into interest rate swaps to convert $350 million of senior notes due in 2054 from fixed 5.45% to floating SOFR plus a spread source
• Total debt was $7,695 million at June 30, 2026 and $7,552 million at December 31, 2025. source
• Total debt as a percent of total capital was 35.6% at June 30, 2026 and 36.0% at December 31, 2025. source
• At June 30, 2026, we had $348 million of commercial paper outstanding, which effectively reduced our available capacity under our revolving credit facilities to $3.7 billion. source
• We had $348 million of commercial paper outstanding at June 30, 2026 that matures in less than one year. source

Impact estimates