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NOTE 4. 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 periods was as follows:
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Three months ended |
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Nine months ended |
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| In millions |
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October 3,
2021 |
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September 27,
2020 |
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October 3,
2021 |
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September 27,
2020 |
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| Manufacturing entities |
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| Beijing Foton Cummins Engine Co., Ltd. |
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$ |
23
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$ |
30 |
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$ |
108
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|
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$ |
81 |
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| Dongfeng Cummins Engine Company, Ltd. |
|
11
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|
20 |
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63
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|
54 |
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| Chongqing Cummins Engine Company, Ltd. |
|
8
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|
|
7 |
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|
28
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|
|
27 |
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| All other manufacturers |
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27
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|
|
22 |
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(1) |
117
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|
100 |
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(1)(2) |
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| Distribution entities |
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| Komatsu Cummins Chile, Ltda. |
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8
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6 |
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23
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23 |
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| All other distributors |
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2
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1 |
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6
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1 |
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| Cummins share of net income |
|
79
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|
|
86 |
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|
345
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|
|
286 |
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| Royalty and interest income |
|
15
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|
|
12 |
|
|
52
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|
|
56 |
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| Equity, royalty and interest income from investees |
|
$ |
94
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|
|
$ |
98 |
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$ |
397
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$ |
342 |
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(1) Includes impairment charges of $10 million and $13 million for the three and nine months ended September 27, 2020, respectively, for a joint venture in the Power Systems segment.
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(2) Includes $37 million in favorable adjustments related to tax changes within India's 2020-2021 Union Budget of India (India Tax Law Change) passed in March 2020.
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