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EQUITY, ROYALTY AND INTEREST INCOME FROM INVESTEES

3 Months Ended

Mar. 29, 2020

Equity Method Investments and Joint Ventures [Abstract]

EQUITY, ROYALTY AND INTEREST INCOME FROM INVESTEES

NOTE 5. EQUITY, ROYALTY AND INTEREST INCOME FROM INVESTEES

Equity, royalty and interest income from investees included in our Condensed Consolidated Statements of Net Income for the reporting period was as follows:

						Three months ended
In millions						March 29, 2020						March 31, 2019
Manufacturing entities
Beijing Foton Cummins Engine Co., Ltd.						$	17					$	21
Chongqing Cummins Engine Company, Ltd.						9						12
Dongfeng Cummins Engine Company, Ltd.						8						14
All other manufacturers						55			(1)			27
Distribution entities
Komatsu Cummins Chile, Ltda.						10						6
All other distributors						—						(1)
Cummins share of net income						99						79
Royalty and interest income						30						13
Equity, royalty and interest income from investees						$	129					$	92
(1) Includes $37 million in adjustments related to tax changes within India's 2020-2021 Union Budget of India (India Tax Law Changes) passed in March 2020. See NOTE 6, "INCOME TAXES" for additional information on India Tax Law Changes.

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- References

No definition available.

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- Definition

The entire disclosure for equity method investments and joint ventures. Equity method investments are investments that give the investor the ability to exercise significant influence over the operating and financial policies of an investee. Joint ventures are entities owned and operated by a small group of businesses as a separate and specific business or project for the mutual benefit of the members of the group.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section S99
-Paragraph 4
-Subparagraph (SX 210.3A-04)
-URI http://asc.fasb.org/extlink&oid=116822174&loc=d3e355119-122828

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 323
-URI http://asc.fasb.org/topic&trid=2196965

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