‘Important': Huge boost to key Aus sector
The figure is 25,000 higher than the number allowed by Education Minister Jason Clare for the 2025 academic year, but is still 8 per cent lower than the influx of international students after borders opened post-pandemic.
It will also not account for students at TAFE or those who enrol in a public-funded university but previously attended an Australian high school.
Universities will be able to request an increase to their 2025 allocations, but they must be able to show an increased engagement with Southeast Asia - as part of Australia's Southeast Asia Economic Strategy to 2040 - and that they have enough student accommodation to cater to both domestic and international students.
The largest proportion of students from overseas were from China (23 per cent), India (17 per cent) and Nepal (8 per cent).
Mr Clare said international education - worth $51bn to the Australian economy in 2023-24 and employing more than 250,000 workers - was an 'incredibly important export industry', but needed to be sustainably managed.
'International education doesn't just make us money - it makes us friends,' he said.
'This is about making sure international education grows in a way that supports students, universities and the national interest.'
Home Affairs Minister Tony Burke said the government's priority was ensuring the international education sector maintained the 'integrity of the migration system'.
'We are making sure student visa processing supports genuine education outcomes and our strategic priorities – including increasing provision of student accommodation,' he said.
'This is about backing providers who do the right things and giving them the certainty they need to grow sustainably.'
Skills and Training Minister Andrew Giles also welcomed the exclusion of TAFE from the cap, saying it would allow the international VET sector to grow sustainably and better meet skills needs.
'The diverse nationalities of international VET students present an opportunity to strengthen our international partnerships,' he said.
'From today, VET providers can plan recruitment with confidence for 2026, knowing they will continue to enjoy equitable access to student visa processing.'
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Presentation of Non-GAAP Financial Information EBITDA is a non-GAAP measure used in this release and is defined and reconciled to what management believes to be the most comparable GAAP measure in a schedule attached to this release, except for forward-looking measures of EBITDA where a reconciliation to the corresponding GAAP measures is not available due to the variability, complexity and limited visibility of the non-cash items that are excluded from the non-GAAP outlook measure. Cummins presents this information as it believes it is useful to understanding the Company's operating performance, and because EBITDA is a measure used internally to assess the performance of the operating units. Webcast information Cummins management will host a teleconference to discuss these results today at 10 a.m. EDT. This teleconference will be webcast and available on the Investor Relations section of the Cummins website at Participants wishing to view the visuals available with the audio are encouraged to sign-in a few minutes prior to the start of the teleconference. CUMMINS INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF NET INCOME (Unaudited) (a) Three months ended June 30, In millions, except per share amounts 2025 2024 NET SALES $ 8,643 $ 8,796 Cost of sales 6,362 6,603 GROSS MARGIN 2,281 2,193 OPERATING EXPENSES AND INCOME Selling, general and administrative expenses 779 828 Research, development and engineering expenses 357 379 Equity, royalty and interest income from investees 118 103 Other operating expense, net 37 44 OPERATING INCOME 1,226 1,045 Interest expense 87 109 Other income, net 86 41 INCOME BEFORE INCOME TAXES 1,225 977 Income tax expense 297 225 CONSOLIDATED NET INCOME 928 752 Less: Net income attributable to noncontrolling interests 38 26 NET INCOME ATTRIBUTABLE TO CUMMINS INC. $ 890 $ 726 EARNINGS PER COMMON SHARE ATTRIBUTABLE TO CUMMINS INC. Basic $ 6.46 $ 5.30 Diluted $ 6.43 $ 5.26 WEIGHTED-AVERAGE COMMON SHARES OUTSTANDING Basic 137.8 137.1 Diluted 138.5 137.9 (a) Prepared on an unaudited basis in accordance with accounting principles generally accepted in the United States of America. Six months ended June 30, In millions, except per share amounts 2025 2024 NET SALES $ 16,817 $ 17,199 Cost of sales 12,381 12,965 GROSS MARGIN 4,436 4,234 OPERATING EXPENSES AND INCOME Selling, general and administrative expenses 1,550 1,667 Research, development and engineering expenses 701 748 Equity, royalty and interest income from investees 249 226 Other operating expense, net 74 77 OPERATING INCOME 2,360 1,968 Interest expense 164 198 Other income, net 146 1,428 INCOME BEFORE INCOME TAXES 2,342 3,198 Income tax expense 564 418 CONSOLIDATED NET INCOME 1,778 2,780 Less: Net income attributable to noncontrolling interests 64 61 NET INCOME ATTRIBUTABLE TO CUMMINS INC. $ 1,714 $ 2,719 EARNINGS PER COMMON SHARE ATTRIBUTABLE TO CUMMINS INC. Basic $ 12.45 $ 19.53 Diluted $ 12.38 $ 19.42 WEIGHTED-AVERAGE COMMON SHARES OUTSTANDING Basic 137.7 139.2 Diluted 138.4 140.0 (a) Prepared on an unaudited basis in accordance with accounting principles generally accepted in the United States of America. CUMMINS INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) (a) In millions, except par value June 30, 2025 December 31, 2024 ASSETS Current assets Cash and cash equivalents $ 2,319 $ 1,671 Marketable securities 755 593 Total cash, cash equivalents and marketable securities 3,074 2,264 Accounts and notes receivable, net 5,874 5,181 Inventories 6,287 5,742 Prepaid expenses and other current assets 1,698 1,565 Total current assets 16,933 14,752 Long-term assets Property, plant and equipment, net 6,540 6,356 Investments and advances related to equity method investees 2,018 1,889 Goodwill 2,433 2,370 Other intangible assets, net 2,395 2,351 Pension assets 1,158 1,189 Other assets 2,782 2,633 Total assets $ 34,259 $ 31,540 LIABILITIES Current liabilities Accounts payable (principally trade) $ 4,151 $ 3,951 Loans payable 336 356 Commercial paper 353 1,259 Current maturities of long-term debt 615 660 Accrued compensation, benefits and retirement costs 657 1,084 Current portion of accrued product warranty 657 679 Current portion of deferred revenue 1,620 1,347 Other accrued expenses 1,926 1,898 Total current liabilities 10,315 11,234 Long-term liabilities Long-term debt 6,807 4,784 Deferred revenue 1,059 1,065 Other liabilities 3,205 3,149 Total liabilities $ 21,386 $ 20,232 EQUITY Cummins Inc. shareholders' equity Common stock, $2.50 par value, 500 shares authorized, 222.5 and 222.5 shares issued $ 2,624 $ 2,636 Retained earnings 22,040 20,828 Treasury stock, at cost, 84.7 and 85.1 shares (10,708 ) (10,748 ) Accumulated other comprehensive loss (2,167 ) (2,445 ) Total Cummins Inc. shareholders' equity 11,789 10,271 Noncontrolling interests 1,084 1,037 Total equity $ 12,873 $ 11,308 Total liabilities and equity $ 34,259 $ 31,540 (a) Prepared on an unaudited basis in accordance with accounting principles generally accepted in the United States of America. CUMMINS INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) (a) Three months ended June 30, In millions 2025 2024 CASH FLOWS FROM OPERATING ACTIVITIES Consolidated net income $ 928 $ 752 Adjustments to reconcile consolidated net income to net cash provided by (used in) operating activities Depreciation and amortization 279 263 Deferred income taxes (113 ) (61 ) Equity in income of investees, net of dividends (18 ) (8 ) Pension and OPEB expense 20 10 Pension contributions and OPEB payments (13 ) (11 ) Changes in current assets and liabilities, net of acquisitions Accounts and notes receivable (186 ) (150 ) Inventories (105 ) (115 ) Other current assets (136 ) 24 Accounts payable (182 ) (64 ) Accrued expenses 243 (1,540 ) Other, net 68 49 Net cash provided by (used in) operating activities 785 (851 ) CASH FLOWS FROM INVESTING ACTIVITIES Capital expenditures (231 ) (240 ) Investments in and net advances to equity investees 6 (52 ) Investments in marketable securities—acquisitions (326 ) (334 ) Investments in marketable securities—liquidations 204 254 Other, net (22 ) (28 ) Net cash used in investing activities (369 ) (400 ) CASH FLOWS FROM FINANCING ACTIVITIES Proceeds from borrowings 2,094 84 Net (payments) borrowings of commercial paper (1,387 ) 972 Payments on borrowings and finance lease obligations (66 ) (475 ) Dividend payments on common stock (251 ) (230 ) Payments for purchase of redeemable noncontrolling interests (55 ) — Other, net (3 ) (43 ) Net cash provided by financing activities 332 308 EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS 39 (8 ) Net increase (decrease) in cash and cash equivalents 787 (951 ) Cash and cash equivalents at beginning of period 1,532 ... 2,541 CASH AND CASH EQUIVALENTS AT END OF PERIOD $ 2,319 $ 1,590 (a) Prepared on an unaudited basis in accordance with accounting principles generally accepted in the United States of America. Six months ended June 30, In millions 2025 2024 CASH FLOWS FROM OPERATING ACTIVITIES Consolidated net income $ 1,778 $ 2,780 Adjustments to reconcile consolidated net income to net cash provided by (used in) operating activities Gain related to divestiture of Atmus — (1,333 ) Depreciation and amortization 548 528 Deferred income taxes (138 ) (99 ) Equity in income of investees, net of dividends (88 ) (86 ) Pension and OPEB expense 39 19 Pension contributions and OPEB payments (26 ) (59 ) Changes in current assets and liabilities, net of acquisitions and divestiture Accounts and notes receivable (643 ) (161 ) Inventories (436 ) (469 ) Other current assets (172 ) (151 ) Accounts payable 148 263 Accrued expenses (244 ) (1,933 ) Other, net 16 126 Net cash provided by (used in) operating activities 782 (575 ) CASH FLOWS FROM INVESTING ACTIVITIES Capital expenditures (393 ) (409 ) Investments in and net advances to equity investees (54 ) (55 ) Acquisition of businesses, net of cash acquired (12 ) (58 ) Investments in marketable securities—acquisitions (783 ) (713 ) Investments in marketable securities—liquidations 636 685 Cash associated with Atmus divestiture — (174 ) Other, net (9 ) (82 ) Net cash used in investing activities (615 ) (806 ) CASH FLOWS FROM FINANCING ACTIVITIES Proceeds from borrowings 2,146 2,482 Net (payments) borrowings of commercial paper (906 ) 85 Payments on borrowings and finance lease obligations (210 ) (1,223 ) Dividend payments on common stock (502 ) (469 ) Payments for purchase of redeemable noncontrolling interests (55 ) — Other, net (49 ) (68 ) Net cash provided by financing activities 424 807 EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS 57 (15 ) Net increase (decrease) in cash and cash equivalents 648 (589 ) Cash and cash equivalents at beginning of year 1,671 2,179 CASH AND CASH EQUIVALENTS AT END OF PERIOD $ 2,319 $ 1,590 (a) Prepared on an unaudited basis in accordance with accounting principles generally accepted in the United States of America. 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AND SUBSIDIARIES SEGMENT INFORMATION (Unaudited) In millions Engine Components Distribution PowerSystems Accelera TotalSegments IntersegmentEliminations(1) Total Three months ended June 30, 2025 External sales $ 2,162 $ 2,295 $ 3,034 $ 1,054 $ 98 $ 8,643 $ — $ 8,643 Intersegment sales 737 410 7 835 7 1,996 (1,996 ) — Total sales 2,899 2,705 3,041 1,889 105 10,639 (1,996 ) 8,643 Research, development and engineering expenses 151 77 14 69 46 357 — 357 Equity, royalty and interest income (loss) from investees 60 10 26 27 (5 ) 118 — 118 Interest income 8 10 7 4 1 30 — 30 EBITDA (2) 400 397 445 430 (100 ) 1,572 15 1,587 Depreciation and amortization (3) 68 127 32 35 13 275 — 275 EBITDA as a percentage of segment sales 13.8 % 14.7 % 14.6 % 22.8 % NM 14.8 % 18.4 % Three months ended June 30, 2024 External sales $ 2,468 $ 2,518 $ 2,821 $ 888 $ 101 $ 8,796 $ — $ 8,796 Intersegment sales 683 464 8 701 10 1,866 (1,866 ) — Total sales 3,151 2,982 2,829 1,589 111 10,662 (1,866 ) 8,796 Research, development and engineering expenses 167 81 14 63 54 379 — 379 Equity, royalty and interest income (loss) from investees 48 13 24 26 (8 ) 103 — 103 Interest income 7 9 11 3 — 30 — 30 EBITDA (2) 445 406 314 301 (117 ) 1,349 (4 ) 1,345 Depreciation and amortization (3) 61 121 30 32 15 259 — 259 EBITDA as a percentage of segment sales 14.1 % 13.6 % 11.1 % 18.9 % NM 12.7 % 15.3 % "NM" - not meaningful information (1) Included intersegment sales, intersegment profit in inventory and unallocated corporate expenses. There were no significant unallocated corporate expenses for the three months ended June 30, 2025 and 2024. (2) EBITDA is defined as earnings or losses before interest expense, income taxes, depreciation and amortization and noncontrolling interests. We believe EBITDA is a useful measure of our operating performance as it assists investors and debt holders in comparing our performance on a consistent basis without regard to financing methods, capital structure, income taxes or depreciation and amortization methods, which can vary significantly depending upon many factors. (3) Depreciation and amortization, as shown on a segment basis, excludes the amortization of debt discount and deferred costs included in our Condensed Consolidated Statements of Net Income as interest expense. A portion of depreciation expense is included in research, development and engineering expenses. In millions Engine Components Distribution PowerSystems Accelera TotalSegments IntersegmentEliminations(1) Total Six months ended June 30, 2025 External sales $ 4,202 $ 4,565 $ 5,936 $ 1,926 $ 188 $ 16,817 $ — $ 16,817 Intersegment sales 1,468 810 12 1,612 20 3,922 (3,922 ) — Total sales 5,670 5,375 5,948 3,538 208 20,739 (3,922 ) 16,817 Research, development and engineering expenses 306 152 28 126 89 701 — 701 Equity, royalty and interest income (loss) from investees 133 17 54 56 (11 ) 249 — 249 Interest income 18 17 12 8 1 56 — 56 EBITDA (2) 858 779 821 819 (186 ) 3,091 (44 ) 3,047 Depreciation and amortization (3) 135 249 64 68 25 541 — 541 EBITDA as a percentage of total sales 15.1 % 14.5 % 13.8 % 23.1 % NM 14.9 % 18.1 % Six months ended June 30, 2024 External sales $ 4,708 $ 5,360 $ 5,350 $ 1,596 $ 185 $ 17,199 $ — $ 17,199 Intersegment sales 1,371 954 14 1,382 19 3,740 (3,740 ) — Total sales 6,079 6,314 5,364 2,978 204 20,939 (3,740 ) 17,199 Research, development and engineering expenses 321 165 28 123 109 746 2 748 Equity, royalty and interest income (loss) from investees 105 39 48 45 (11 ) 226 — 226 Interest income 14 17 22 6 — 59 — 59 EBITDA (2) 859 879 (4 ) 608 538 (218 ) 2,666 1,251 3,917 Depreciation and amortization (3) 119 246 61 66 29 521 — 521 EBITDA as a percentage of total sales 14.1 % 13.9 % 11.3 % 18.1 % NM 12.7 % 22.8 % (1) Included intersegment sales, intersegment profit in inventory and unallocated corporate expenses. 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The amortization of debt discount and deferred costs was $7 million and $7 million for the six months ended June 30, 2025 and 2024, respectively. A portion of depreciation expense is included in research, development and engineering expenses. (4) Included $21 million of costs associated with the divestiture of Atmus for the six months ended June 30, 2024. CUMMINS INC. AND SUBSIDIARIES SELECT FOOTNOTE DATA (Unaudited) EQUITY, ROYALTY AND INTEREST INCOME FROM INVESTEES Equity, royalty and interest income from investees included in our Condensed Consolidated Statements of Net Income for the reporting periods was as follows: Three months ended Six months ended June 30, June 30, In millions 2025 2024 2025 2024 Manufacturing entities Chongqing Cummins Engine Company, Ltd. $ 22 $ 21 $ 45 $ 36 Dongfeng Cummins Engine Company, Ltd. 19 15 39 37 Beijing Foton Cummins Engine Co., Ltd. 15 10 30 23 Tata Cummins, Ltd. 7 7 17 16 All other manufacturers 14 11 21 34 Distribution entities Komatsu Cummins Chile, Ltda. 15 14 29 27 All other distributors 4 2 12 7 Cummins share of net income 96 80 193 180 Royalty and interest income 22 23 56 46 Equity, royalty and interest income from investees $ 118 $ 103 $ 249 $ 226 INCOME TAXES Our effective tax rate for 2025 is expected to approximate 24.5 percent, excluding any discrete items that may arise and potential adjustments for the "One Big Beautiful Bill Act" signed into law on July 4, 2025. Our effective tax rates for the three and six months ended June 30, 2025, were 24.2 percent and 24.1 percent, respectively. Our effective tax rates for the three and six months ended June 30, 2024, were 23.0 percent and 13.1 percent, respectively. The three months ended June 30, 2025, contained net favorable discrete tax items of $3 million, or $0.02 per diluted share, primarily due to $4 million of favorable adjustments for uncertain tax positions, partially offset by $1 million of other unfavorable tax items. The six months ended June 30, 2025, contained net favorable discrete tax items of $10 million, or $0.07 per diluted share, primarily due to $8 million of favorable adjustments for share-based compensation tax benefits and $5 million of favorable adjustments for uncertain tax positions, partially offset by $3 million of other unfavorable tax items. The three months ended June 30, 2024, contained favorable discrete tax items of $9 million, or $0.07 per share, primarily due to share-based compensation tax benefits. The six months ended June 30, 2024, contained favorable discrete tax items primarily due to the $1.3 billion non-taxable gain on the Atmus split-off. Other discrete tax items were $30 million, or $0.21 per share, primarily due to adjustments related to audit settlements and share-based compensation tax benefits. On July 4, 2025, the "One Big Beautiful Bill Act" was signed into law, enacting significant changes to U.S. federal income tax rules affecting corporations, such as the ability to immediately deduct domestic research and development costs, restoration of elective 100 percent bonus depreciation for qualified property and changes related to the international tax provisions. We are currently assessing the impact to our consolidated financial statements. CUMMINS INC. AND SUBSIDIARIES FINANCIAL MEASURES THAT SUPPLEMENT GAAP (Unaudited) Reconciliation of Non GAAP measures - Earnings before interest, income taxes, depreciation and amortization and noncontrolling interests (EBITDA) We believe EBITDA is a useful measure of our operating performance as it assists investors and debt holders in comparing our performance on a consistent basis without regard to financing methods, capital structure, income taxes or depreciation and amortization methods, which can vary significantly depending upon many factors. We believe EBITDA excluding special items is a useful measure of our operating performance without regard to the impact of the gain recognized and the related costs for the divestiture of Atmus and restructuring actions. This statement excludes forward looking measures of EBITDA where a reconciliation to the corresponding accounting principles generally accepted in the United States (GAAP) measures is not available due to the variability, complexity and limited visibility of non-cash items that are excluded from the non-GAAP outlook measure. EBITDA is not in accordance with, or an alternative for, GAAP and may not be consistent with measures used by other companies. It should be considered supplemental data; however, the amounts included in the EBITDA calculation are derived from amounts included in the Condensed Consolidated Statements of Net Income. Below is a reconciliation of net income attributable to Cummins Inc. to EBITDA for each of the applicable periods: Three months ended Six months ended June 30, June 30, In millions 2025 2024 2025 2024 Net income attributable to Cummins Inc. $ 890 $ 726 $ 1,714 $ 2,719 Net income attributable to Cummins Inc., as a percentage of net sales 10.3 % 8.3 % 10.2 % 15.8 % Add: Net income attributable to noncontrolling interests 38 26 64 61 Consolidated net income 928 752 1,778 2,780 Add: Interest expense 87 109 164 198 Income tax expense 297 225 564 418 Depreciation and amortization 275 259 541 521 EBITDA $ 1,587 $ 1,345 $ 3,047 $ 3,917 EBITDA, as a percentage of net sales 18.4 % 15.3 % 18.1 % 22.8 % Less: Gain related to the divestiture of Atmus — — — 1,333 Add: Atmus divestiture costs — — — 35 Restructuring actions — — — 29 EBITDA, excluding the impact of the gain recognized and the related costs for the divestiture of Atmus and restructuring actions $ 1,587 $ 1,345 $ 3,047 $ 2,648 EBITDA, excluding the impact of the gain recognized and the related costs for the divestiture of Atmus and restructuring actions, as a percentage of net sales 18.4 % 15.3 % 18.1 % 15.4 % CUMMINS INC. AND SUBSIDIARIES SEGMENT SALES DATA (Unaudited) Engine Segment Sales by Market and Unit Shipments by Engine Classification Sales for our Engine segment by market were as follows: 2025 In millions Q1 Q2 Q3 Q4 YTD Heavy-duty truck $ 921 $ 976 $ — $ — $ 1,897 Medium-duty truck and bus 986 950 — — 1,936 Light-duty automotive 421 486 — — 907 Off-highway 443 487 — — 930 Total sales $ 2,771 $ 2,899 $ — $ — $ 5,670 2024 In millions Q1 Q2 Q3 Q4 YTD Heavy-duty truck $ 1,059 $ 1,184 $ 1,021 $ 980 $ 4,244 Medium-duty truck and bus 995 1,074 1,073 1,024 4,166 Light-duty automotive 438 461 395 301 1,595 Off-highway 436 432 424 415 1,707 Total sales $ 2,928 $ 3,151 $ 2,913 $ 2,720 $ 11,712 Unit shipments by engine classification (including unit shipments to Power Systems and off-highway engine units included in their respective classification) were as follows: 2025 Units (1) Q1 Q2 Q3 Q4 YTD Heavy-duty 26,700 29,600 — — 56,300 Medium-duty 75,200 73,400 — — 148,600 Light-duty 39,100 44,000 — — 83,100 Total units 141,000 147,000 — — 288,000 2024 Units (1) Q1 Q2 Q3 Q4 YTD Heavy-duty 33,600 37,500 32,400 29,400 132,900 Medium-duty 75,800 79,600 79,200 75,700 310,300 Light-duty 54,800 57,200 41,400 36,000 189,400 Total units 164,200 174,300 153,000 141,100 632,600 (1) Unit shipments exclude aftermarket parts. Components Segment Sales by Business Sales for our Components segment by business were as follows: 2025 In millions Q1 Q2 Q3 Q4 YTD Drivetrain and braking systems $ 1,056 $ 1,095 $ — $ — $ 2,151 Emission solutions 902 900 — — 1,802 Components and software 595 587 — — 1,182 Automated transmissions 117 123 — — 240 Total sales $ 2,670 $ 2,705 $ — $ — $ 5,375 2024 In millions Q1 Q2 Q3 Q4 YTD Drivetrain and braking systems $ 1,232 $ 1,256 $ 1,131 $ 1,114 $ 4,733 Emission solutions 971 941 864 825 3,601 Components and software 611 623 581 589 2,404 Automated transmissions 165 162 148 113 588 Atmus (1) 353 — — — 353 Total sales $ 3,332 $ 2,982 $ 2,724 $ 2,641 $ 11,679 (1) Included sales through the March 18, 2024, divestiture. Distribution Segment Sales by Product Line Sales for our Distribution segment by product line were as follows: 2025 In millions Q1 Q2 Q3 Q4 YTD Power generation $ 1,090 $ 1,200 $ — $ — $ 2,290 Parts 1,031 1,015 — — 2,046 Service 416 439 — — 855 Engines 370 387 — — 757 Total sales $ 2,907 $ 3,041 $ — $ — $ 5,948 2024 In millions Q1 Q2 Q3 Q4 YTD Power generation $ 707 $ 954 $ 1,091 $ 1,220 $ 3,972 Parts 1,001 990 1,004 985 3,980 Service 406 448 455 444 1,753 Engines 421 437 402 419 1,679 Total sales $ 2,535 $ 2,829 $ 2,952 $ 3,068 $ 11,384 Power Systems Segment Sales by Product Line Sales for our Power Systems segment by product line were as follows: 2025 In millions Q1 Q2 Q3 Q4 YTD Power generation $ 1,001 $ 1,205 $ — $ — $ 2,206 Industrial 498 506 — — 1,004 Generator technologies 150 178 — — 328 Total sales $ 1,649 $ 1,889 $ — $ — $ 3,538 2024 In millions Q1 Q2 Q3 Q4 YTD Power generation $ 853 $ 987 $ 1,055 $ 1,090 $ 3,985 Industrial 420 478 508 526 1,932 Generator technologies 116 124 124 127 491 Total sales $ 1,389 $ 1,589 $ 1,687 $ 1,743 $ 6,408 View source version on Contacts Melinda KoskiExternal Sign in to access your portfolio
