XML 79 R41.htm IDEA: XBRL DOCUMENT v3.19.3.a.u2
Investment in Nonconsolidated Affiliates (Tables)
 12 Months Ended
Dec. 31, 2019
Equity Method Investments and Joint Ventures [Abstract]  
Equity Method Investments
The Company's investments in its nonconsolidated affiliates were as follows:
 
At December 31
 
2019
 
2018
Investments in nonconsolidated affiliates
$
518

 
$
544


The following tables present summarized aggregated financial information of the Company’s nonconsolidated affiliates as of and for the year ended December 31, 2019:
 
Year Ended December 31, 2019
Statements of Income
Otomotiv A.S.
 
Anqing TP Goetze
 
Other
 
Total
Sales
$
349

 
$
151

 
$
479

 
$
979

Gross profit
$
79

 
$
44

 
$
89

 
$
212

Income from continuing operations
$
63

 
$
38

 
$
47

 
$
148

Net income
$
60

 
$
35

 
$
41

 
$
136


 
December 31, 2019
Balance Sheets
Otomotiv A.S.
 
Anqing TP Goetze
 
Other
 
Total
Current assets
$
102

 
$
151

 
$
244

 
$
497

Noncurrent assets
$
106

 
$
139

 
$
186

 
$
431

Current liabilities
$
30

 
$
45

 
$
112

 
$
187

Noncurrent liabilities
$
69

 
$
—

 
$
16

 
$
85


The following tables present summarized aggregated financial information of the Company’s nonconsolidated affiliates as of and for the year ended December 31, 2018:
 
Year Ended December 31, 2018
Statements of Income
Otomotiv A.S.
 
Anqing TP Goetze
 
Other
 
Total
Sales
$
92

 
$
41

 
$
137

 
$
270

Gross profit
$
23

 
$
13

 
$
33

 
$
69

Income from continuing operations
$
26

 
$
13

 
$
10

 
$
49

Net income
$
22

 
$
12

 
$
8

 
$
42


 
December 31, 2018
Balance Sheets
Otomotiv A.S.
 
Anqing TP Goetze
 
Other
 
Total
Current assets
$
129

 
$
164

 
$
249

 
$
542

Noncurrent assets
$
300

 
$
132

 
$
200

 
$
632

Current liabilities
$
70

 
$
40

 
$
131

 
$
241

Noncurrent liabilities
$
82

 
$
—

 
$
11

 
$
93


The following table represents the activity from the Company’s investments in its nonconsolidated affiliates:
 
Year Ended December 31
 
2019
 
2018
 
2017
Equity earnings (losses) of nonconsolidated affiliates, net of tax
$
43

 
$
18

 
$
(1
)
Cash dividends received from nonconsolidated affiliates
$
53

 
$
2

 
$
—


The Company's ownership interest in affiliates accounted for under the equity method is as follows:
 
At December 31
 
2019
 
2018
Anqing TP Goetze Piston Ring Company Limited (China)
35.7
%
 
35.7
%
Anqing TP Powder Metallurgy Co., Ltd (China)
20.0
%
 
20.0
%
Dongsuh Federal-Mogul Industrial Co. Ltd. (Korea)
50.0
%
 
50.0
%
Farloc Argentina SAIC Y F (Argentina)
23.9
%
 
23.9
%
Federal-Mogul Powertrain Otomotiv A.S. (Turkey)
50.0
%
 
50.0
%
Federal-Mogul TP Liner Europe Otomotiv Ltd. Sti. (Turkey)
25.0
%
 
25.0
%
Federal-Mogul TP Liners, Inc. (USA)
46.0
%
 
46.0
%
Frenos Hidraulicos Automotrices, S.A. de C.V. (Mexico)
49.0
%
 
49.0
%
JURID do Brasil Sistemas Automotivos Ltda. (Brazil)
19.9
%
 
19.9
%
KB Autosys Co., Ltd. (Korea)
33.6
%
 
33.6
%
Montagewerk Abgastechnik Emden GmbH (Germany)(a)
50.0
%
 
50.0
%

 
(a) This nonconsolidated affiliate was the only equity method investment not acquired as part of the Federal-Mogul Acquisition.