Cummins Engine Corrects and Replaces Consolidated Statement of Financial Position Table
13 July 2000
Cummins Engine Corrects and Replaces Consolidated Statement of Financial Position Table
Cummins Reports Earnings of $1.62 Per Share for the Second Quarter, the following table corrects and replaces the third table, titled Consolidated Statement of Financial Position.
CUMMINS ENGINE COMPANY, INC.
CONSOLIDATED STATEMENT OF FINANCIAL POSITION
Unaudited
Millions, except per share amounts Jun. 25, Dec. 31,
---------------------------------- 2000 1999
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Assets
Current assets:
Cash and cash equivalents $ 74 $ 74
Receivables, net of allowance of $9 1,138 1,026
Inventories 822 787
Other current assets 294 293
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2,328 2,180
Investments and other assets 346 274
Property, plant and equipment less
accumulated depreciation of $1,542
and $1,490 1,602 1,630
Goodwill, net of amortization of $33
and $28 359 364
Other intangibles, deferred taxes
and deferred charges 258 249
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Total assets $4,893 $4,697
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Liabilities and shareholders' investment
Current liabilities:
Loans payable $ 68 $ 113
Current maturities of long-term debt 9 10
Accounts payable 463 411
Other current liabilities 770 780
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1,310 1,314
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Long-term debt 1,255 1,092
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Other liabilities 788 788
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Minority interest 79 74
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Shareholders' investment:
Common stock, $2.50 par value,
48.7 and 48.3 shares issued 121 121
Additional contributed capital 1,140 1,129
Retained earnings 839 760
Accumulated other comprehensive income (158) (109)
Common stock in treasury, at cost,
7.2 and 6.8 shares (290) (274)
Common stock held in trust for
employee benefit plans, 3.4 shares (158) (163)
Unearned compensation (ESOP) (33) (35)
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1,461 1,429
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Total liabilities and shareholders'
investment $4,893 $4,697
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