Investments in and Advances to Affiliates

The Company applies the equity method of accounting for investments in investees over which the Company has the ability to exercise significant influence, including the Company’s 24.9% and 23.2% share ownership in Wilmar as of December 31, 2017 and 2016, respectively. The Company had 56 and 59 unconsolidated domestic and foreign affiliates as of December 31, 2017 and 2016, respectively. The following table summarizes the combined balance sheets as of December 31, 2017 and 2016, and the combined statements of earnings of the Company’s unconsolidated affiliates for the years ended December 31, 2017, 2016, and 2015.



	December 31
(In millions)	2017			2016
Current assets	$	28,200		$	25,145
Non-current assets	21,411			21,347
Current liabilities	(24,209		)	(20,587		)
Non-current liabilities	(4,250		)	(5,830		)
Noncontrolling interests	(981		)	(943		)
Net assets	$	20,171		$	19,132



	Year Ended
	December 31
(In millions)	2017		2016		2015
Net Sales	$	55,908	$	45,296	$	47,980
Gross profit	4,687		4,375		4,530
Net income	1,800		1,119		1,428

The Company’s share of the undistributed earnings of its unconsolidated affiliates as of December 31, 2017 is $2.1 billion. The Company's investment in Wilmar has a carrying value of $3.8 billion as of December 31, 2017, and a market value of $3.6 billion based on market quoted price converted to U.S. dollars at the applicable exchange rate at December 31, 2017. The investment has been in an unrealized loss position for less than 12 months. The Company evaluated the near-term prospects of the investee in relation to the severity and duration of the impairment. Based on that evaluation, the Company does not consider this investment to be other-than-temporarily impaired at December 31, 2017.

The Company provides credit facilities totaling $78 million to four unconsolidated affiliates. Three facilities that are due on demand and bear interest between 3.74% and 4.74% have a total outstanding balance of $32 million. The other facility has no outstanding balance as of December 31, 2017. The outstanding balance is included in other current assets in the accompanying consolidated balance sheet.

As of December 31, 2017, the Company received a $79 million advance payment from an unconsolidated affiliate for sales contracts expected to be executed in May 2018. The amount, which bears interest at 3.26%, is included in accrued expenses and other payables in the accompanying balance sheet.