Note 19 - Equity Affiliates

3 Months Ended

Mar. 31, 2020

Notes to Financial Statements

Equity Method Investments and Joint Ventures Disclosure [Text Block]

Note 19. Equity Affiliates

We have a number of investments in entities that engage in the manufacture and supply of vehicular parts (primarily axles, driveshafts, wheel-end braking systems) and motors for electric vehicles and industrial applications.

The decrease in equity method investments from the prior period is due in large part to our acquisition of a controlling financial interest in Ashwoods Innovations Ltd. (Ashwoods) on February 5, 2020. Originally acquired as part of the ODS acquisition, the minority shareholders in this entity had substantive participating rights that allowed them to effectively participate in the decisions made in the ordinary course of business that were significant to its operations. Upon acquiring Curtis Instruments, Inc.'s (Curtis) 35.4% ownership interest in Ashwoods, we had a 97.8% ownership interest in Ashwoods. During March 2020, we acquired the remaining noncontrolling interest in Ashwoods held by employee shareholders. See Note 2 for additional information.

Equity method investments exceeding $5 at March 31, 2020 — 

	Ownership Percentage	Investment
Dongfeng Dana Axle Co., Ltd. (DDAC)	50%	$	95
Bendix Spicer Foundation Brake, LLC	20%		56
Axles India Limited	48%		10
Taiway Ltd.	28%		5
All others as a group			10
Investments in equity affiliates			176
Investments in affiliates carried at cost			2
Investments in affiliates		$	178