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Investment in Nonconsolidated Affiliates
 9 Months Ended
Sep. 30, 2021
Equity Method Investments and Joint Ventures [Abstract]  
Investment in Nonconsolidated Affiliates
7. Investment in Nonconsolidated Affiliates

No significant changes occurred in the Company’s ownership interest in nonconsolidated affiliates since December 31, 2020.

The carrying amount of the Company’s investments in its nonconsolidated affiliates accounted for under the equity method exceeded its share of the underlying net assets by $272 million and $287 million at September 30, 2021 and December 31, 2020.

The following tables present summarized aggregated financial information of the Company’s nonconsolidated affiliates. The amounts represent 100% of the interest in the nonconsolidated affiliates and not the Company’s proportionate share:
Three Months Ended September 30,
20212020
Statements of IncomeOtomotiv A.S.Anqing TP GoetzeOtherTotalOtomotiv A.S.Anqing TP GoetzeOtherTotal
Sales$76 $46 $95 $217 $73 $72 $140 $285 
Gross profit$19 $12 $19 $50 $21 $17 $27 $65 
Income from continuing operations$17 $12 $7 $36 $16 $18 $9 $43 
Net income$12 $10 $4 $26 $11 $16 $8 $35 
Nine Months Ended September 30,
20212020
Statements of IncomeOtomotiv A.S.Anqing TP GoetzeOtherTotalOtomotiv A.S.Anqing TP GoetzeOtherTotal
Sales$272 $147 $343 $762 $193 $113 $286 $592 
Gross profit$83 $40 $70 $193 $53 $28 $53 $134 
Income from continuing operations$74 $40 $37 $151 $43 $29 $20 $92 
Net income$63 $35 $28 $126 $34 $26 $16 $76 


The following table is a summary of transactions with the Company's nonconsolidated affiliates:

Three Months Ended    September 30,Nine Months Ended    September 30,
2021202020212020
Net sales$18 $26 $58 $63 
Purchases$87 $80 $310 $205 
Royalty and other income (expense)$2 $8 $9 $15 

The following table is a summary of amounts due to and from the Company's nonconsolidated affiliates:

September 30,
2021		December 31,
2020
Receivables$10 $17 
Payables and accruals$65 $86