Investments in Affiliates

12 Months Ended

Dec. 31, 2016

Equity Method Investments and Joint Ventures [Abstract]

Investments in Affiliates

INVESTMENTS IN AFFILIATES

As part of Delphi’s continuing operations, it has investments in six non-consolidated affiliates accounted for under the equity method of accounting. These affiliates are not publicly traded companies and are located primarily in Asia Pacific and North America. Delphi’s ownership percentages vary generally from approximately 20% to 50%, with the most significant investments in Delphi-TVS Diesel Systems Ltd (of which Delphi owns approximately 50%) and Promotora de Partes Electricas Automotrices, S.A. de C.V. (of which Delphi owns approximately 40%). The aggregate investment in non-consolidated affiliates was $101 million and $94 million at December 31, 2016 and 2015, respectively. Dividends of $17 million, $17 million and $0 for the years ended December 31, 2016, 2015 and 2014, respectively, have been received from non-consolidated affiliates. No impairment charges were recorded for the years ended December 31, 2016, 2015 and 2014.

The following is a summary of the combined financial information of significant affiliates accounted for under the equity method for continuing operations as of December 31, 2016 and 2015 and for the years ended December 31, 2016, 2015 and 2014 (unaudited):

	December 31,
	2016		2015
	(in millions)
Current assets	$	238	$	205
Non-current assets	175		166
Total assets	$	413	$	371
Current liabilities	$	148	$	125
Non-current liabilities	62		67
Shareholders’ equity	203		179
Total liabilities and shareholders’ equity	$	413	$	371

	Year Ended December 31,
	2016		2015		2014
	(in millions)
Net sales	$	633	$	557	$	624
Gross profit	159		139		143
Net income	77		38		41

A summary of transactions with affiliates is shown below:

	Year Ended December 31,
	2016		2015		2014
	(in millions)
Sales to affiliates	$	32	$	42	$	57
Purchases from affiliates	36		48		55