Honeywell 2003 Annual Report Download - page 382
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investment securities on the sales of these businesses. Our Advanced Circuits
and PFC businesses had a higher deductible tax basis than book basis which
resulted in an after-tax gain. The sales of these businesses reduced net sales
and increased segment profit in 2002 compared with 2001 by approximately $500
and $31 million, respectively.
NOTE 5--OTHER (INCOME) EXPENSE
Years Ended December 31,
------------------------
(Dollars in Millions) 2003 2002 2001
----------------------------------------------------------------------------------
Interest income and other ............................. $(109) $(68) $(50)
Minority interests .................................... 7 8 24
Foreign exchange loss ................................. 121 56 9
----------------------------------------------------------------------------------
$ 19 $(4) $(17)
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