Analyzing and Interpreting Disclosures on Equity Method Investments Cummins Inc. (CMI) reports investments in affiliated companies, consisting mainly of investments in nine manufacturing joint ventures. Cummins reports those investments on its balance sheet at $958 million, and provides the following financial information of its investee companies in a footnote to its 10-K report: Equity Investee Financial Summary As of and for the years ended December 31 2015 2014 2013 $ millions Net sales Gross margin Net income Cummins' share of net income Royalty and interest income $5,946 $7,426 $7,799 1,719 690 $325 36 1,265 521 $273 42 1,539 630 $330 40 Total equity, royalty and interest income from investees $315 $370 $361 Analyzing and Interpreting Disclosures on Equity Method Investments Cummins Inc. (CMI) reports investments in affiliated companies, consisting mainly of investments in nine manufacturing joint ventures. Cummins reports those investments on its balance sheet at $958 million, and provides the following financial information of its investee companies in a footnote to its 10-K report: Equity Investee Financial Summary As of and for the years ended December 31 2015 2014 2013 $ millions Net sales Gross margin Net income Cummins' share of net income Royalty and interest income $5,946 $7,426 $7,799 1,719 690 $325 36 1,265 521 $273 42 1,539 630 $330 40 Total equity, royalty and interest income from investees $315 $370 $361