Cummins(CMI) - 2022 Q4 - Annual Report

LIQUIDITY AND CAPITAL RESOURCES Cash Flows Net cash provided by operating activities decreased $294 million, primarily due to higher working capital requirements of$646 million, partially offset by lower equity earnings, net of dividends of $147 million and Russian suspension costs of$111 million. The higher working capital requirements resulted in a cash outflow of $1.0 billion compared to a cash outflow of$359 million in the comparable period in 2021, mainly due to decreased accrued expenses (as a resu ...