WASHINGTON (dpa-AFX) - Cummins, Inc (CMI) on Friday reached a settlement in
principle to resolve U.S. regulatory claims regarding its emissions
certification and compliance process for certain engines primarily used in
pick-up truck applications. The settlements are subject to final regulatory and
judicial approvals.

Cummins expects to record a charge of approximately $2.04 billion in the fourth
quarter of 2023 to resolve these and other related matters involving
approximately one million pick-up truck applications in the U.S.

The charge includes approximately $1.93 billion relating to payments that are
expected to be made in the first half of 2024, and balance related expenses.

The company has cooperated fully with the relevant regulators, already addressed
many of the issues involved, and looks forward to obtaining certainty as it
concludes this lengthy matter.

Cummins conducted an extensive internal review and worked collaboratively with
the regulators for more than four years. The company has seen no evidence that
anyone acted in bad faith and does not admit wrongdoing.

The company has already recalled model year 2019 RAM 2500 and 3500 trucks and
has initiated a recall of model years 2013 through 2018 RAM 2500 and 3500 trucks
and previously accrued a total of $59 million for the estimated costs for
executing these and other related recalls.



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