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Cummins Company Overview. Indiana University Kelley School of Business September 20th, 2005. Cummins…. Global Fortune 500 Company Design, manufacture and market diesel and alternative fuel engines, filtration and exhaust systems, power generation systems and related components - PowerPoint PPT Presentation
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CumminsCummins
Company OverviewCompany Overview
Indiana UniversityIndiana UniversityKelley School of BusinessKelley School of Business
September 20th, 2005September 20th, 2005
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Cummins…...Cummins…...
Global Fortune 500 Company
Design, manufacture and market diesel and alternative fuel engines, filtration and exhaust systems, power generation systems and related components
Largest independent engine manufacturer
Industry leader in engine and manufacturing technologies
Rich history of innovation
Company culture committed to Corporate Responsibility and making a positive impact on the communities in which we operate
3
APPLICATIONS…......
4
Diversified Revenue BaseDiversified Revenue Base .
Revenue by Business Unit and Geographic Region2004 Revenues: $8.4 Billion
2004: $8.4 billion
Mexico, 3%
Canada, 7%
Australia / New Zealand,
4%
Brazil / Latin America, 4%Africa / Middle
East, 4%
Europe / CIS, 14%
Asia, 14%
United States, 52%
Filtration & Other15%
Power Gen19%
EBU57%
International Distributor
9%
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Record Shareholder ValueRecord Shareholder Value
Data as of Dec. 31, 2004
15.7%
10.9%
Peer group: Caterpillar, Navistar, Ingersoll-Rand, Paccar, Eaton, ArvinMeritor, Deere, Dana, CNH
12/31/2003 3/31/2003 6/30/2003 9/30/2003 12/31/200450
75
100
125
150
175
200
Sto
ck P
rice
In
dex
CMI S&P 500 Peer Avg.
74.6%
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Confident About Our FutureConfident About Our Future
Strengthening U.S. Economy
Robust Truck Demand
Invested in Right Technology
Secured Business Through Long-Term Agreements
Positioned Well in Emerging Markets
Global Growth in Power Generation
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Cummins CultureCummins Culture
What's our personality? Decisive, Driven to win, Agile, Passionate, Caring
Values: What do we value? Integrity: Strive to do what is right and do what we say we will do Innovation: Apply the creative ingenuity necessary to make us
better, faster, first Delivering Superior Results: Exceed expectations, consistently Corporate Responsibility: Serve and improve the communities in
which we live Diversity: Embrace the diverse perspectives of all people and
honor with both dignity and respect Global Involvement: Seek a world view and act without
boundaries
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“In the search for character and commitment, we must rid ourselves of our inherited, even cherished, biases and prejudices. Character, ability and intelligence are not concentrated in one sex over the other, nor in persons with certain accents, or in certain races, or in persons holding degrees from some universities over others.”
“When we indulge ourselves in such irrational prejudices, we damage ourselves most of all and ultimately assure ourselves of failure in competition with those more open and less biased.”
– J. Irwin Miller, former Cummins Chairman and CEO.
External RecognitionExternal Recognition
2004 -- #1 Corporate Citizen2004 -- #1 Corporate Citizen
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Financial Development ProgramFinancial Development Program
Mission Attract, and retain outstanding finance/accounting college hires
via a cross functional and structured progression plan aimed at developing the candidates to be future Cummins’ business leaders
Objectives Attract candidates with the following target profile:
MBAA/MPA/Undergraduates
Major in accounting / finance
– GPA of 3.0 +
Offer a broad accounting / finance exposure by rotating them through four key finance areas
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Financial Development ProgramFinancial Development Program
As a part of the FDP program, the candidates will be a part of :
– Rotations in 4 key areas: – Cummins Business Services (shared service center)
– Internal Controls
– Planning, Forecasting & Reporting
– Plant Finance
– Training in pre-identified areas and in areas based on individual needs
Opportunity for international experience
Teamed with Finance Professional mentor
Program to be monitored by a panel of Finance Professionals
Direct career placement for candidates after completion
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PFR
6 Months
Objectives:
Typical Areas: Forecasting, reporting
:
Gain expertise in Planning, Forecasting, & Reporting roles
Training-Systems
Objectives:
Audit experience
Understand the CMI controls environment
Foundation in FIN Policies & GAAP
Training:-SOX d-base
-Acctg Policy
Internal Audit and Controls
Typical Areas: Guest auditor, Sox walkthru testing
’testing
6 Months
CBS
Objectives:
Typical Areas: AR, AP, GL
:
Strong grounding in CBS transactional work
6 Months
Plant roles
Objectives:
Gain plant experience in product costing, capital planning, physical inventory
Training:
-RFA-Systems
6 Months
Typical Areas: Inventory, Plant accounting, reporting :
Prdt costing, etc.
Panel Review
Final presentation to FDP panel
Final performance review
Career placement
Objectives:
Rotation In 4 Key Areas
Ongoing activities: Mentorship & Panel involvement in presentations and next roles
Training
-Account recon
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Questions ?Questions ?
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CAREER PROFILE – FINANCECAREER PROFILE – FINANCEDean Cantrell – Director Treasury Services
Director – Investor Relations 2004 - present
Director- Treasury Services 2002- 2004
Controller - Marine Business 2000-2002
Finance Manager - Columbus Engine Plant 1998-2000
MI& A - Financial Analyst 1996-1998
MBA - Kelley School of Business 1996