26172--2/27/2009--CUMMINS_INC

related topics
{condition, economic, financial}
{product, liability, claim}
{customer, product, revenue}
{operation, international, foreign}
{cost, regulation, environmental}
{financial, litigation, operation}
{capital, credit, financial}
{cost, operation, labor}
{investment, property, distribution}
{competitive, industry, competition}
Our consolidated operating results and financial condition may be adversely impacted by worldwide economic conditions and credit tightening. The North American and European automotive industries are in distress and with further deterioration could adversely impact our business. Deterioration in the automotive markets could impact the business plan for our light-duty engine products currently under development The current deterioration of the credit and capital markets may adversely impact our ability to obtain financing on acceptable terms or obtain funding under our revolving credit facility. Our manufacturing operations are dependent upon third-party suppliers, making us vulnerable to supply shortages. Our products are subject to substantial government regulation. Variability in material and commodity costs could adversely affect our results of operations and financial condition. We are subject to currency exchange rate and other related risks. Deteriorating market conditions could diminish our pension plan asset performance which could adversely impact our equity and our cash flow. We are exposed to political, economic and other risks that arise from operating a multinational business. Our products are subject to recall for performance related issues. We cannot assure that our truck manufacturers and OEM customers will continue to outsource their engine supply needs. Our operations are subject to extensive environmental laws and regulations. We face risks through our equity method investments in companies that we do not control. We face reputational and legal risk from affiliations with joint venture partners. We may be adversely impacted by work stoppages and other labor matters. Our business is exposed to risks of product liability claims. We face significant competition in the markets we serve. Our business is affected by the cyclical nature of the markets we serve.

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