M&A - CUMMINS INC

Form Type: 11-K

Filing Date: 2025-05-22

Corporate Action: Merger

Type: Update

Accession Number: 000002617225000019

Filing Summary: The document is the annual report for the Cummins Retirement and Savings Plan and the Cummins Retirement and Savings Plan for Certain Collectively Bargained Employees, covering the fiscal years ending December 31, 2024, and 2023. It includes audited financial statements, which demonstrate that the net assets available for benefits have increased significantly due to employer and employee contributions as well as investment gains. The report indicates that contributions and investments in the Cummins Inc. Master Retirement Savings Trust saw considerable growth, with a recorded net investment gain of over $1 billion for the fiscal year 2024. Notably, a recent merger effective December 31, 2023, between the Meritor, Inc. Savings Plan and the Cummins Retirement and Savings Plan is highlighted, marking a significant development in the company's retirement solutions. The document elaborates on the asset management structure, participant rights, contribution and matching policies, and the plans' compliance with ERISA regulations. It also ensures transparency in financial reporting with a detailed breakdown of assets held in different financial instruments, including common stock and various investments in collective trusts. The reporting firm, Blue & Co., LLC, has specified that they have remained independent auditors of the plans since 2002, and the financial statements adhere to GAAP guidelines.