Cummins Inc. Form 8-K Summary
Business Context and Reporting Period
This Current Report on Form 8-K was filed by Cummins Inc. on April 10, 2007. The report details the completion of a previously announced two-for-one stock split of the company's Common Stock, par value $2.50 per share. The split was approved by the Board of Directors on March 8, 2007, and distributed to shareholders of record as of March 26, 2007.
Key Financial Metrics
The filing does not report current period revenue, profit, cash flow, margins, debt, or liquidity metrics. Instead, it provides historical weighted-average common shares outstanding and earnings per share (EPS) data adjusted retroactively to reflect the two-for-one stock split.
| Period | Basic Shares (Millions) | Diluted Shares (Millions) | Basic EPS | Diluted EPS |
|---|---|---|---|---|
| 2006 Full Year | 95.3 | 101.6 | $7.51 | $7.10 |
| 2005 Full Year | 88.5 | 102.2 | $6.21 | $5.51 |
| 2004 Full Year | 84.4 | 98.4 | $4.15 | $3.69 |
| 2003 Full Year | 78.6 | 79.0 | $0.69 | $0.68 |
| 2002 Full Year | 77.3 | 77.6 | $1.03 | $1.03 |
Quarterly data for 2006 and 2005 is also provided in the filing, showing adjusted share counts and EPS for each quarter and year-to-date periods.
Material Changes
The primary material change reported is the doubling of the number of outstanding shares and the corresponding halving of the earnings per share figure for all historical periods presented. This adjustment ensures comparability of financial data before and after the stock split.
Guidance, Outlook, and Risks
The filing contains no management commentary, forward-looking guidance, risk factors, or discussion of contingencies. The document is strictly a notification of the stock split execution and the associated historical data restatement.
Investor Verification Checklist
- Verify the record date for the stock split was March 26, 2007.
- Confirm the distribution date of the split shares was April 9, 2007.
- Ensure all historical EPS and share count data in investment models are adjusted to reflect the two-for-one split.
- Note that the filing does not contain updated financial performance metrics for the current quarter or year.