Item 6. Selected Financial Data

The selected financial information presented below for each of the last five years ended December 31, beginning with 2020, was derived from our Consolidated Financial Statements. This information should be read in conjunction with our Consolidated Financial Statements and related notes and "Management's Discussion and Analysis of Financial Condition and Results of Operations."


In millions, except per share amounts	2020		2019		2018		2017		2016
For the years ended December 31,
Net sales	$	19,811	$	23,571	$	23,771	$	20,428	$	17,509







Net income attributable to Cummins Inc.(1)	1,789		2,260		2,141		999		1,394
Earnings per common share attributable to Cummins Inc.(2)
Basic	$	12.07	$	14.54	$	13.20	$	5.99	$	8.25
Diluted	12.01		14.48		13.15		5.97		8.23
Cash dividends declared per share	5.28		4.90		4.44		4.21		4.00


At December 31,

Total assets	22,624		19,737		19,062		18,075		15,011
Long-term debt	3,610		1,576		1,597		1,588		1,568

(1) For the year ended December 31, 2019, net income attributable to Cummins Inc. was reduced by $119 million due to restructuring actions ($90 million after-tax). For the year ended December 31, 2018, net income attributable to Cummins Inc. was reduced by $39 million due to Tax Legislation. For the year ended December 31, 2017, net income attributable to Cummins Inc. was reduced by $777 million due to Tax Legislation. For the year ended December 31, 2016, net income attributable to Cummins Inc. included a $138 million charge for a loss contingency ($74 million net of favorable variable compensation impact after-tax).
(2) For the year ended December 31, 2019, results for basic and diluted earnings per share were reduced by $0.58 per share and $0.57 per share, respectively, due to restructuring actions. For the year ended December 31, 2018, results for basic and diluted earnings per share were reduced by $0.24 per share due to Tax Legislation. For the year ended December 31, 2017, results for basic and diluted earnings per share were reduced by $4.66 per share and $4.65 per share, respectively, due to Tax Legislation. For the year ended December 31, 2016, results for basic and diluted earnings per share were reduced by $0.44 per share due to a loss contingency charge.

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