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
$ millions	2015	2014	2013
Net sales	$5,946	$7,426	$7,799
Gross margin	1,265	1,539	1,719
Net income	521	630	690
Cummins share of net income	$273	$330	$325
Royalty and interest income	42	40	36
Total equity, royalty and interest income from investees	$315	$370	$361
Current assets	$2,458	$2,476
Noncurrent assets	1,539	1,667
Current liabilities	(1,796)	(1,875)
Noncurrent liabilities	(284)	(420)
Net assets	$1,917	$1,848
Cummins share of net assets	$958	$956

(a) What assets and liabilities of unconsolidated affiliates are omitted from Cummins balance sheet as a result of the equity method of accounting for those investments?

Assets = $Answer

million

Liabilities = $Answer

million