Cummins Inc. Enters New Material Definitive Agreement

TL;DR

Cummins just signed a new deal, expect a new financial obligation.

AI Summary

On June 3, 2024, Cummins Inc. entered into a material definitive agreement related to a direct financial obligation. The filing does not provide specific details on the agreement's nature or the dollar amount involved, but it signifies a new financial commitment for the company.

Why It Matters

This filing indicates Cummins Inc. is undertaking a new financial obligation, which could impact its balance sheet and future financial flexibility.

Risk Assessment

Risk Level: medium — The filing indicates a new material definitive agreement and a direct financial obligation, the specifics of which are not yet disclosed, creating some uncertainty.

Key Players & Entities

• Cummins Inc. (company) — Registrant
• June 3, 2024 (date) — Report Date

FAQ

Key Financial Figures

• $2.50 — nge on which registered Common stock, $2.50 par value CMI New York Stock Exchan
• $2.0 billion — amount limitations, in an amount up to $2.0 billion in the aggregate outstanding at any tim
• $1.0 billion — er the 5-Year Credit Agreement by up to $1.0 billion and (b) incremental term loans and/or i
• $1.0 b — r the 364-Day Credit Agreement by up to $1.0 billion, in each case, if certain conditi

Filing Documents

• tm2416225d1_8k.htm (8-K) — 33KB
• tm2416225d1_ex10-1.htm (EX-10.1) — 867KB
• tm2416225d1_ex10-2.htm (EX-10.2) — 812KB
• tm2416225d1_8kimg002.jpg (GRAPHIC) — 8KB
• 0001104659-24-067815.txt ( ) — 2245KB
• cmi-20240603.xsd (EX-101.SCH) — 3KB
• cmi-20240603_lab.xml (EX-101.LAB) — 33KB
• cmi-20240603_pre.xml (EX-101.PRE) — 22KB
• tm2416225d1_8k_htm.xml (XML) — 4KB

01

Item 1.01 Entry into a Material Definitive Agreement. On June 3, 2024, Cummins Inc. (the "Company") entered into a Second Amended and Restated Credit Agreement (the "5-Year Credit Agreement") by and among the Company, certain of its subsidiaries (together with the Company, the "Borrowers"), the lenders named therein (the "5-Year Lenders") and JPMorgan Chase Bank, N.A. ("JPMorgan"), as administrative agent. Under the 5-Year Credit Agreement, which will mature on June 3, 2029 (the "Maturity Date"), the Borrowers may obtain revolving and swingline loans and letters of credit, in each case subject to certain amount limitations, in an amount up to $2.0 billion in the aggregate outstanding at any time prior to the Maturity Date. The 5-Year Credit Agreement amends and restates in its entirety that certain Amended and Restated Credit Agreement, dated as of August 18, 2021, by and among the Company, certain subsidiaries referred to therein, the lenders party thereto and JPMorgan, as administrative agent. On June 3, 2024, the Company also entered into a Sixth Amended and Restated 364-Day Credit Agreement (the "364-Day Credit Agreement" and, together with the 5-Year Credit Agreement, the "Credit Agreements") by and among the Company, the other Borrowers party thereto, the lenders named therein (the "364-Day Lenders" and, together with the 5-Year Lenders, the "Lenders") and JPMorgan, as administrative agent. Under the 364-Day Credit Agreement, the Borrowers may obtain revolving and swingline loans, in each case subject to certain amount limitations, in an amount up to $2.0 billion in the aggregate outstanding at any time prior to June 2, 2025 (the "Commitment Termination Date"). The 364-Day Credit Agreement amends and restates in its entirety that certain Fifth Amended and Restated 364-Day Credit Agreement, dated as of June 5, 2023, by and among the Company, certain subsidiaries referred to therein, the lenders party thereto and JPMorgan, as administrative agent. The borro

03

Item 2.03. Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant. The information included in Item 1.01 above is incorporated herein by reference.

01 Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits . (d) Exhibits. The exhibits listed in the Exhibit Index below are filed as part of this report. Exhibit Index Exhibit Number Description 10.1 Second Amended and Restated Credit Agreement, dated as of June 3, 2024, by and among Cummins Inc., the subsidiary borrowers referred to therein, the Lenders party thereto and JPMorgan Chase Bank, N.A., as Administrative Agent. 10.2 Sixth Amended and Restated 364-Day Credit Agreement, dated as of June 3, 2024, by and among Cummins Inc., the subsidiary borrowers referred to therein, the Lenders party thereto and JPMorgan Chase Bank, N.A., as Administrative Agent. 104 Cover Page Interactive Data File (the cover page Interactive Data File is embedded within the Inline XBRL document). 3 SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Date: June 3, 2024 CUMMINS INC. /s/ Luther E. Peters Luther E. Peters Vice President-Controller (Principal Accounting Officer)