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was $146 million for 2000 compared to $141 million in 1999. Interest expense was up in 2000 due to higher average interest rates on short-term borrowings and additional short-term debt used to repurchase $759 million of our common stock under our share repurchase program, mostly during the fourth quarter of 2000. These increases offset the benefits from our lower borrowings earlier in 2000 due to the use of the proceeds from the sale of Ingersoll-Dresser Pump and Dresser-Rand to repay short-term debt.
of $25 million in 2000 declined $49 million from 1999. Interest income in 1999 included settlement of income tax issues in the United States and United Kingdom and imputed interest income on the note receivable from the sale of our ownership in M-I L.L.C.
were $5 million in 2000, down from a loss of $8 million in 1999. The losses in 2000 were primarily in Asia Pacific currencies and the euro. Losses in 1999 occurred primarily in Russian and Latin American currencies.
was a net loss of $1 million in 2000 compared to $19 million in 1999. The net loss in 1999 includes a $26 million charge in the second quarter relating to an impairment of Halliburton KBRs net investment in Bufete Industriale, S.A. de C.V., a large specialty engineering, procurement and construction company in Mexico.
on continuing operations in 2000 was $129 million for an effective tax rate of 38.5%, compared to 37.8% in 1999. Excluding our special charges and related taxes, the effective rate was 38.8% in 1999.
was $18 million in 2000 compared to $17 million in 1999.
was $98 million in 2000 and $124 million in 1999.
resulting from the sale of our 51% interest in Dresser-Rand was $215 million after-tax or $0.48 per diluted share, in 2000. In 1999 we recorded a gain on the sale of our 49% interest in Ingersoll-Dresser Pump of $159 million after-tax, or $0.36 diluted share.
in 1999 of $19 million after-tax, or $0.04 per diluted share, reflects our adoption of Statement of Position 98-5, Reporting on the Costs of Start-Up Activities. See Note 12.
was $501 million or $1.12 per diluted share, in 2000 and $438 million, or $0.99 per diluted share, in 1999.
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