Cummins Engine Company, Inc. Consolidated Statement of Cash Flows The accompanying notes are an integral part of this statement. 21 Millions 2000 1999 1998 Cash flows from operating activities: Net earnings (loss) $ 8 $160 $(21) Adjustments to reconcile net earnings (loss) to  net cash from operating activities: Depreciation and amortization 240 233 199 Restructuring and other special charges 132 38 110 Equity in (earnings) losses of joint ventures and alliances 9 35 38 Receivables 54 (200) (10) Proceeds from sale of receivables 219 - - Inventories 9 (60) (26) Accounts payable and accrued expenses (241) 162 56 Deferred income taxes 2 (31) (65) Other (44) (30) (10) Total adjustments 380 147 292 388 307 271 Cash flows from investing activities: Property, plant and equipment: Additions (228) (215) (271) Disposals 11 22 7 Investments in joint ventures and alliances (53) (36) (22)  Acquisitions and dispositions of business activities (42) 57 (468) Other - 6 2 (312) (166) (752) Net cash provided by (used in) operating and investing activities 76  141 (481) Cash flows from financing activities: Proceeds from borrowings 1 28 711 Payments on borrowings (65) (90) (161) Net borrowings (payments) under short-term credit agreements 49 49 (30) Repurchases of common stock (16) (34) (14) Dividend payments (50) (47) (46) Other (5) (11) 11 (86) (105) 471 Effect of exchange rate changes on cash (2) - (1)  Net change in cash and cash equivalents (12) 36 (11) Cash and cash equivalents at beginning of year 74 38 49 Cash and cash equivalents at end of year $6 2 $7 4 $3 8 Cash payments during the year for: Interest $8 8 $8 2 $5 6 Income taxes 73 56 73