Cummins Inc 10-Q, filed Nov 5, 2026

Cummins Inc (CMI)

10-Q 2026-11-05 For: 2026-09-30

Added on November 05, 2026

About this 10-Q

Cummins Inc filed this 10-Q on November 5, 2026, covering the quarter ended September 30, 2026.

Cummins reported third-quarter net sales of $9.4 billion and diluted earnings per common share of $8.25, versus $8.3 billion and $3.86, as higher sales and gross margin outweighed higher compensation. AI summary

Headline figures

Quarter ended September 30, 2026, as reported in this filing, compared with the same period a year earlier where the filing states it.

Revenue: $9.44B; up 13.5% from $8.32B a year earlier
Net income: $1.17B; up 109.1% from net income of $559M a year earlier
Diluted EPS: $8.25; up 113.7% from $3.86 a year earlier

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Indiana						35-0257090
(State of Incorporation)						(IRS Employer Identification No.)


		Page
	PART I. FINANCIAL INFORMATION
ITEM 1.	Condensed Consolidated Financial Statements (Unaudited)	3
	Condensed Consolidated Statements of Net Income for the three and nine months ended September 30, 2026 and 2025	3
	Condensed Consolidated Statements of Comprehensive Income for the three and nine months ended September 30, 2026 and 2025	4

	Condensed Consolidated Balance Sheets at September 30, 2026 and December 31, 2025	5
	Condensed Consolidated Statements of Cash Flows for the nine months ended September 30, 2026 and 2025	6
	Condensed Consolidated Statements of Changes in Equity for the three and nine months ended September 30, 2026 and 2025	7
	Notes to Condensed Consolidated Financial Statements	9
ITEM 2.	Management’s Discussion and Analysis of Financial Condition and Results of Operations	31
ITEM 3.	Quantitative and Qualitative Disclosures About Market Risk	51
ITEM 4.	Controls and Procedures	51
	PART II. OTHER INFORMATION
ITEM 1.	Legal Proceedings	51
ITEM 1A.	Risk Factors	51
ITEM 2.	Unregistered Sales of Equity Securities and Use of Proceeds	52
ITEM 3.	Defaults Upon Senior Securities	52
ITEM 4.	Mine Safety Disclosures	52
ITEM 5.	Other Information	52
ITEM 6.	Exhibits	53
	Signatures	54



	Three months ended				Nine months ended
	September 30,				September 30,
In millions, except per share amounts	2026		2025		2026		2025
NET SALES (Notes 1 and 2)	$	9,438	$	8,317	$	27,293	$	25,134
Cost of sales	6,823		6,188		19,970		18,569
GROSS MARGIN	2,615		2,129		7,323		6,565

OPERATING EXPENSES AND INCOME
Selling, general and administrative expenses	868		789		2,606		2,339
Research, development and engineering expenses	400		345		1,143		1,046
Equity, royalty and interest income from investees (Note 4)	127		104		429		353



Other operating expense, net (Note 14)	30		247		331		321
OPERATING INCOME	1,444		852		3,672		3,212


Interest expense	81		83		237		247
Other income, net	57		61		212		207
INCOME BEFORE INCOME TAXES	1,420		830		3,647		3,172

Income tax expense (Note 5)	251		271		830		835
CONSOLIDATED NET INCOME	1,169		559		2,817		2,337

Less: Net income attributable to noncontrolling interests	29		23		91		87
NET INCOME ATTRIBUTABLE TO CUMMINS INC.	$	1,140	$	536	$	2,726	$	2,250

EARNINGS PER COMMON SHARE ATTRIBUTABLE TO CUMMINS INC.
Basic	$	8.29	$	3.88	$	19.77	$	16.33
Diluted	$	8.25	$	3.86	$	19.70	$	16.23

WEIGHTED-AVERAGE COMMON SHARES OUTSTANDING
Basic	137.5		138.0		137.9		137.8
Dilutive effect of stock compensation awards	0.6		0.8		0.5		0.8
Diluted	138.1		138.8		138.4		138.6



	Three months ended				Nine months ended
	September 30,				September 30,
In millions	2026		2025		2026		2025
CONSOLIDATED NET INCOME	$	1,169	$	559	$	2,817	$	2,337
Other comprehensive (loss) income, net of tax (Note 12)
Change in pension and other postretirement defined benefit plans	9		8		2		(12)
Foreign currency translation adjustments	(35)		(67)		(121)		247

Unrealized gain (loss) on derivatives	5		(3)		10		(15)
Total other comprehensive (loss) income, net of tax	(21)		(62)		(109)		220
COMPREHENSIVE INCOME	1,148		497		2,708		2,557
Less: Comprehensive income attributable to noncontrolling interests	23		5		59		73
COMPREHENSIVE INCOME ATTRIBUTABLE TO CUMMINS INC.	$	1,125	$	492	$	2,649	$	2,484


In millions, except par value	September 30, 2026		December 31, 2025
ASSETS
Current assets
Cash and cash equivalents	$	3,571	$	2,845

Marketable securities (Note 6)	614		764
Total cash, cash equivalents and marketable securities	4,185		3,609
Accounts and notes receivable, net	6,638		5,818


Inventories (Note 7)	6,811		5,822
Prepaid expenses and other current assets	1,741		1,676
Total current assets	19,375		16,925
Long-term assets
Property, plant and equipment	13,500		12,919
Accumulated depreciation	(6,386)		(5,961)
Property, plant and equipment, net	7,114		6,958
Investments and advances related to equity method investees	2,384		2,133
Goodwill	2,221		2,224
Other intangible assets, net	2,012		2,167
Pension assets	1,011		1,033
Other assets (Note 8)	2,469		2,552
Total assets	$	36,586	$	33,992

LIABILITIES
Current liabilities
Accounts payable (principally trade)	$	4,879	$	3,800
Loans payable (Note 9)	383		313
Commercial paper (Note 9)	348		353
Current maturities of long-term debt (Note 9)	154		94
Accrued compensation, benefits and retirement costs	965		825
Current portion of accrued product warranty (Note 10)	664		693
Current portion of deferred revenue (Note 2)	1,690		1,606

Other accrued expenses (Note 8)	2,049		1,926
Total current liabilities	11,132		9,610
Long-term liabilities
Long-term debt (Note 9)	6,634		6,792


Deferred revenue (Note 2)	1,167		1,054
Other liabilities (Note 8)	3,307		3,128
Total liabilities	$	22,240	$	20,584

Commitments and contingencies (Note 11)



EQUITY
Cummins Inc. shareholders’ equity
Common stock, $2.50 par value, 500 shares authorized, 222.5 and 222.5 shares issued	$	2,649	$	2,673
Retained earnings	24,488		22,616
Treasury stock, at cost, 85.5 and 84.4 shares	(11,451)		(10,662)

Accumulated other comprehensive loss (Note 12)	(2,355)		(2,278)



Total Cummins Inc. shareholders’ equity	13,331		12,349
Noncontrolling interests	1,015		1,059
Total equity	$	14,346	$	13,408
Total liabilities and equity	$	36,586	$	33,992


	Three months ended
In millions, except per share amounts	Common Stock		Additional Paid-in Capital		Retained Earnings		Treasury Stock		Accumulated Other Comprehensive Loss		Total Cummins Inc. Shareholders’ Equity		Noncontrolling Interests		Total Equity
BALANCE AT JUNE 30, 2026	$	556	$	2,070	$	23,650	$	(11,089)	$	(2,340)	$	12,847	$	1,059	$	13,906

Net income					1,140						1,140		29		1,169
Other comprehensive loss, net of tax (Note 12)									(15)		(15)		(6)		(21)
Issuance of common stock			2								2		—		2

Repurchases of common stock							(365)				(365)		—		(365)
Cash dividends on common stock, $2.20 per share					(302)						(302)		—		(302)
Distributions to noncontrolling interests											—		(67)		(67)

Share-based awards			(1)				1				—		—		—





Other shareholder transactions			22				2				24		—		24
BALANCE AT SEPTEMBER 30, 2026	$	556	$	2,093	$	24,488	$	(11,451)	$	(2,355)	$	13,331	$	1,015	$	14,346

BALANCE AT JUNE 30, 2025	$	556	$	2,068	$	22,040	$	(10,708)	$	(2,167)	$	11,789	$	1,084	$	12,873

Net income					536						536		23		559
Other comprehensive loss, net of tax (Note 12)									(44)		(44)		(18)		(62)
Issuance of common stock			1								1		—		1

Cash dividends on common stock, $2.00 per share					(276)						(276)		—		(276)
Distributions to noncontrolling interests											—		(52)		(52)
Share-based awards			8				31				39		—		39





Other shareholder transactions			18				1				19		(3)		16
BALANCE AT SEPTEMBER 30, 2025	$	556	$	2,095	$	22,300	$	(10,676)	$	(2,211)	$	12,064	$	1,034	$	13,098


The accompanying notes are an integral part of the Condensed Consolidated Financial Statements.


	Nine months ended
In millions, except per share amounts	Common Stock		Additional Paid-in Capital		Retained Earnings		Treasury Stock		Accumulated Other Comprehensive Loss		Total Cummins Inc. Shareholders’ Equity		Noncontrolling Interests		Total Equity
BALANCE AT DECEMBER 31, 2025	$	556	$	2,117	$	22,616	$	(10,662)	$	(2,278)	$	12,349	$	1,059	$	13,408

Net income					2,726						2,726		91		2,817
Other comprehensive loss, net of tax (Note 12)									(77)		(77)		(32)		(109)
Issuance of common stock			3								3		—		3
Repurchases of common stock							(833)				(833)		—		(833)
Cash dividends on common stock, $6.20 per share					(854)						(854)		—		(854)
Distributions to noncontrolling interests											—		(103)		(103)
Share-based awards			(28)				40				12		—		12




Other shareholder transactions			1				4				5		—		5
BALANCE AT SEPTEMBER 30, 2026	$	556	$	2,093	$	24,488	$	(11,451)	$	(2,355)	$	13,331	$	1,015	$	14,346

BALANCE AT DECEMBER 31, 2024	$	556	$	2,080	$	20,828	$	(10,748)	$	(2,445)	$	10,271	$	1,037	$	11,308

Net income					2,250						2,250		87		2,337
Other comprehensive income (loss), net of tax (Note 12)									234		234		(14)		220
Issuance of common stock			2								2		—		2
Cash dividends on common stock, $5.64 per share					(778)						(778)		—		(778)
Distributions to noncontrolling interests											—		(84)		(84)
Share-based awards			(10)				67				57		—		57



Other shareholder transactions			23				5				28		8		36
BALANCE AT SEPTEMBER 30, 2025	$	556	$	2,095	$	22,300	$	(10,676)	$	(2,211)	$	12,064	$	1,034	$	13,098

The accompanying notes are an integral part of the Condensed Consolidated Financial Statements.


	Pension
	U.S. Plans				U.K. Plans				OPEB
	Three months ended September 30,
In millions	2026		2025		2026		2025		2026		2025
Service cost	$	35	$	34	$	4	$	4	$	—	$	—
Interest cost	45		43		19		20		2		2
Expected return on plan assets	(71)		(67)		(25)		(23)		—		—

Recognized net actuarial loss (gain)	3		2		9		7		(2)		(1)
Net periodic benefit expense	$	12	$	12	$	7	$	8	$	—	$	1

	Pension
	U.S. Plans				U.K. Plans				OPEB
	Nine months ended September 30,
In millions	2026		2025		2026		2025		2026		2025
Service cost	$	104	$	100	$	11	$	11	$	—	$	—
Interest cost	133		130		58		58		4		5
Expected return on plan assets	(211)		(201)		(75)		(68)		—		—
Amortization of prior service cost	1		1		1		1		—		—
Recognized net actuarial loss (gain)	8		7		26		20		(4)		(4)
Net periodic benefit expense	$	35	$	37	$	21	$	22	$	—	$	1


In millions	Interest Rate	September 30, 2026		December 31, 2025
Long-term debt



Debentures, due 2027	6.75%	$	58	$	58
Debentures, due 2028	7.125%	250		250
Senior notes, due 2028	4.25%	300		300
Senior notes, due 2029	4.90%	500		500
Senior notes, due 2030 (1)	1.50%	850		850
Senior notes, due 2031	4.70%	700		700
Senior notes, due 2034	5.15%	750		750
Senior notes, due 2035	5.30%	1,000		1,000
Senior notes, due 2043	4.875%	500		500
Senior notes, due 2050	2.60%	650		650
Senior notes, due 2054 (1)	5.45%	1,000		1,000
Debentures, due 2098 (2)	5.65%	165		165

Other debt		166		175

Unamortized discount and deferred issuance costs		(85)		(91)
Fair value adjustments due to hedge on indebtedness		(144)		(57)
Finance leases		128		136
Total long-term debt		6,788		6,886
Less: Current maturities of long-term debt		154		94
Long-term debt		$	6,634	$	6,792

(1) We entered into interest rate swaps on the noted debt instruments to effectively convert from a fixed rate to a floating rate. See "Interest Rate Risk" in NOTE 13, “DERIVATIVES,” for additional information.
(2) The effective interest rate is 7.48 percent.



In millions	2026		2027		2028		2029		2030
Principal payments	$	22	$	157	$	634	$	542	$	865



	Three months ended
In millions	Change in pension and OPEB plans		Foreign currency translation adjustment		Unrealized gain (loss) on derivatives		Total attributable to Cummins Inc.		Noncontrolling interests		Total
Balance at June 30, 2026	$	(919)	$	(1,520)	$	99	$	(2,340)
Other comprehensive income (loss) before reclassifications
Before-tax amount	—		(34)		12		(22)		$	(6)	$	(28)
Tax benefit (expense)	—		5		(3)		2		—		2
After-tax amount	—		(29)		9		(20)		(6)		(26)
Amounts reclassified from accumulated other comprehensive income (loss) (1)	9		—		(4)		5		—		5

Net current period other comprehensive income (loss)	9		(29)		5		(15)		$	(6)	$	(21)
Balance at September 30, 2026	$	(910)	$	(1,549)	$	104	$	(2,355)

Balance at June 30, 2025	$	(863)	$	(1,407)	$	103	$	(2,167)
Other comprehensive income (loss) before reclassifications
Before-tax amount	(1)		(45)		2		(44)		$	(18)	$	(62)
Tax benefit (expense)	2		(4)		—		(2)		—		(2)
After-tax amount	1		(49)		2		(46)		(18)		(64)
Amounts reclassified from accumulated other comprehensive income (loss) (1)	7		—		(5)		2		—		2
Net current period other comprehensive income (loss)	8		(49)		(3)		(44)		$	(18)	$	(62)
Balance at September 30, 2025	$	(855)	$	(1,456)	$	100	$	(2,211)

(1) Amounts are net of tax. Reclassifications out of accumulated other comprehensive income (loss) and the related tax effects are immaterial for separate disclosure.


	Derivatives Designated as Hedging Instruments				Derivatives Not Designated as Hedging Instruments
In millions	September 30, 2026		December 31, 2025		September 30, 2026		December 31, 2025
Notional amount	$	5,320	$	3,241	$	3,900	$	4,316

Derivative assets
Prepaid expenses and other current assets (1)	$	43	$	16	$	9	$	39




Derivative liabilities
Other accrued expenses	$	20	$	29	$	3	$	3
Other liabilities	195		72		—		—
Total derivative liabilities (1)	$	215	$	101	$	3	$	3

(1) Estimates of the fair value of all derivative assets and liabilities above are derived from Level 2 inputs, which are estimated using actively quoted prices for similar instruments from brokers and observable inputs where available, including market transactions and third-party pricing services, or net asset values provided to investors. We do not currently have any Level 3 input measures and there were no transfers into or out of Level 2 or 3 during the nine months ended September 30, 2026, or the year ended December 31, 2025.


In millions	Engine		Components		Distribution		Power Systems		Accelera			Total Segments
Three months ended September 30, 2026
External sales	$	2,389	$	2,397	$	3,307	$	1,250	$	95		$	9,438
Intersegment sales	741		459		3		1,039		8			2,250
Total sales	3,130		2,856		3,310		2,289		103			11,688
Cost of goods sold (excluding warranty expenses)	2,338		2,250		2,633		1,521		109			8,851
Warranty expenses	98		57		11		29		12			207
Selling expenses	69		46		168		50		6			339
Administrative expenses	173		136		109		102		9			529
Research, development and engineering expenses	186		85		16		85		28			400
Equity, royalty and interest income (loss) from investees	58		9		29		35		(4)			127
Other income (expense) (1)	19		(8)		22		9		1			43
Add back: Depreciation and amortization (2)	79		125		37		36		8			285
Segment EBITDA	$	422	$	408	$	461	$	582	$	(56)		$	1,817

Interest income (3)	$	12	$	11	$	7	$	6	$	1		$	37

Three months ended September 30, 2025
External sales	$	1,922	$	1,986	$	3,170	$	1,126	$	113		$	8,317
Intersegment sales	683		343		2		870		8			1,906
Total sales	2,605		2,329		3,172		1,996		121			10,223
Cost of goods sold (excluding warranty expenses)	2,030		1,868		2,489		1,357		172		(4)	7,916
Warranty expenses	97		29		5		37		18			186
Selling expenses	57		43		151		42		7			300
Administrative expenses	141		132		93		105		18			489
Research, development and engineering expenses	159		70		14		62		40			345
Equity, royalty and interest income (loss) from investees	54		7		23		26		(6)			104
Other income (expense) (1)	15		(24)		17		2		(209)		(4)	(199)
Add back: Depreciation and amortization (2)	71		122		32		36		13			274
Segment EBITDA	$	261	$	292	$	492	$	457	$	(336)	(4)	$	1,166

Interest income (3)	$	11	$	8	$	6	$	4	$	—		$	29


	Three months ended				Favorable/				Nine months ended				Favorable/
	September 30,				(Unfavorable)				September 30,				(Unfavorable)
In millions	2026		2025		Amount		Percent		2026		2025		Amount		Percent
United States and Canada	$	5,730	$	4,972	$	758	15	%	$	16,098	$	15,215	$	883	6	%
International	3,708		3,345		363		11	%	11,195		9,919		1,276		13	%
Total net sales	$	9,438	$	8,317	$	1,121	13	%	$	27,293	$	25,134	$	2,159	9	%


	Three months ended September 30,
Reportable Segments	2026						2025							Percent change
			Percent						Percent					2026 vs. 2025
In millions	Sales		of Total		EBITDA		Sales		of Total		EBITDA			Sales		EBITDA
Engine	$	3,130	27	%	$	422	$	2,605	25	%	$	261		20	%	62	%
Components	2,856		24	%	408		2,329		23	%	292			23	%	40	%
Distribution	3,310		28	%	461		3,172		31	%	492			4	%	(6)	%
Power Systems	2,289		20	%	582		1,996		20	%	457			15	%	27	%
Accelera	103		1	%	(56)		121		1	%	(336)		(1)	(15)	%	83	%
Total segments	11,688		100	%	1,817		10,223		100	%	1,166			14	%	56	%
Intersegment eliminations	(2,250)				(31)		(1,906)				21			18	%	NM

Total	$	9,438			$	1,786	$	8,317			$	1,187		13	%	50	%

“NM” - not meaningful information
(1) Included a $210 million goodwill impairment charge and a $30 million inventory write-down. See NOTE 14, “ACCELERA ACTIONS,” to our Condensed Consolidated Financial Statements for additional information.


	Three months ended				Nine months ended
	September 30,				September 30,
In millions	2026		2025		2026		2025
Heavy-duty truck	$	803	$	540	$	2,105	$	1,921
Medium-duty truck and bus	767		533		2,152		1,909
Light-duty automotive	496		583		1,434		1,490
Total on-highway	2,066		1,656		5,691		5,320
Off-highway	323		266		1,013		804
Total sales	$	2,389	$	1,922	$	6,704	$	6,124


	Three months ended				Nine months ended
	September 30,				September 30,
In millions	2026		2025		2026		2025
Drivetrain and braking systems	$	1,107	$	916	$	3,144	$	3,066
Emission solutions	837		702		2,497		2,270
Components and software	308		281		968		888
Automated transmissions	145		87		357		327

Total sales	$	2,397	$	1,986	$	6,966	$	6,551


	Three months ended				Nine months ended
	September 30,				September 30,
In millions	2026		2025		2026		2025
North America	$	2,302	$	2,200	$	6,823	$	6,373
Asia Pacific	367		311		1,013		831
Europe	285		273		888		865
China	143		121		393		357
India	95		93		271		256
Africa and Middle East	69		74		195		193
Latin America	46		98		153		231
Total sales	$	3,307	$	3,170	$	9,736	$	9,106


	Three months ended				Nine months ended
	September 30,				September 30,
In millions	2026		2025		2026		2025
Power generation	$	1,328	$	1,246	$	3,976	$	3,536
Parts	1,049		1,014		3,190		3,051
Service	482		494		1,385		1,349
Engines	448		416		1,185		1,170
Total sales	$	3,307	$	3,170	$	9,736	$	9,106


	Three months ended				Favorable/ (Unfavorable)	Nine months ended				Favorable/ (Unfavorable)
	September 30,					September 30,
Percent of sales	2026		2025		Percentage Points	2026		2025		Percentage Points
Gross margin	27.7	%	25.6	%	2.1	26.8	%	26.1	%	0.7
Selling, general and administrative expenses	9.2	%	9.5	%	0.3	9.5	%	9.3	%	(0.2)
Research, development and engineering expenses	4.2	%	4.1	%	(0.1)	4.2	%	4.2	%	—


Dollars in millions	September 30, 2026			December 31, 2025
Working capital (1)	$	8,243		$	7,315
Current ratio	1.74			1.76
Accounts and notes receivable, net	$	6,638		$	5,818
Days' sales in receivables	62			60
Inventories	$	6,811		$	5,822
Inventory turnover	4.1			4.2
Accounts payable (principally trade)	$	4,879		$	3,800
Days' payable outstanding	58			58
Total debt	$	7,519		$	7,552
Total debt as a percent of total capital	34.4		%	36.0		%

(1) Working capital included cash and cash equivalents.


	September 30, 2026
In millions	Total		U.S.		International		Primary location of international balances
Cash and cash equivalents	$	3,571	$	1,520	$	2,051	China, Singapore, Australia, Mexico, Romania, Belgium, India and United Kingdom

Marketable securities (1)	614		79		535		India and Brazil
Total	$	4,185	$	1,599	$	2,586
Available credit capacity
Revolving credit facilities (2)	$	3,652

International and other uncommitted domestic credit facilities	$	531




(1) The majority of marketable securities could be liquidated into cash within a few days.
(2) The 5-year credit facility for $2.0 billion and the 3-year credit facility for $2.0 billion, maturing June 2030 and June 2028, respectively, are maintained primarily to provide backup liquidity for our commercial paper borrowings and general corporate purposes. At September 30, 2026, we had $348 million of commercial paper outstanding, which effectively reduced our available capacity under our revolving credit facilities to $3.7 billion.


In millions (except per share amounts) For each quarter ended	Shares Purchased	Average Cost Per Share		Total Cost of Repurchases		Remaining Authorized Capacity
December 2019, $2 billion repurchase program
March 31	0.4	$	539.09	$	218	$	—





December 2021, $2 billion repurchase program
March 31	0.1	519.00		25		1,975
June 30	0.3	623.69		225		1,750
September 30	0.6	600.79		365		1,385

Subtotal	1.0	605.11		615

Total	1.4	586.33		$	833


	Issuer Purchases of Equity Securities
Period	Total Number of Shares Purchased	Average Price Paid per Share		Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs	Approximate Dollar Value of Shares that May Yet Be Purchased Under the Plans or Programs (in millions) (1)
July 1 - July 31	103,635	$	641.67	103,635	$	1,683
August 1 - August 31	338,152	615.92		338,152	1,475
September 1 - September 30	165,035	544.13		165,035	1,385
Total	606,822	600.79		606,822


(1) Shares repurchased under our Key Employee Stock Investment Plan only occur in the event of a participant default, which cannot be predicted, and were excluded from this column.


Exhibit No.						Description of Exhibit










31(a)						Certification Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 (filed herewith).
31(b)						Certification Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 (filed herewith).
32						Certification Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 (filed herewith).
101.INS*						Inline XBRL Instance Document - the instance document does not appear in the Interactive Data File because its XBRL tags are embedded within the Inline XBRL document.
101.SCH*						Inline XBRL Taxonomy Extension Schema Document.
101.CAL*						Inline XBRL Taxonomy Extension Calculation Linkbase Document.
101.DEF*						Inline XBRL Taxonomy Extension Definition Linkbase Document.
101.LAB*						Inline XBRL Taxonomy Extension Label Linkbase Document.
101.PRE*						Inline XBRL Taxonomy Extension Presentation Linkbase Document.
104						Cover Page Interactive Data File (formatted as Inline XBRL and contained in Exhibit 101).


Date:	November 5, 2026	/s/ JENNIFER RUMSEY
		Jennifer Rumsey
		Chair and Chief Executive Officer


Date:	November 5, 2026	/s/ MARK A. SMITH
		Mark A. Smith
		Vice President and Chief Financial Officer