Equity in Net Assets of Non-consolidated Affiliates

3 Months Ended

Mar. 31, 2017

Noncontrolling Interest [Abstract]

Equity in Net Assets of Non-consolidated Affiliates

Equity in Net Assets of Non-consolidated Affiliates

We use the equity method to account for our equity interest in SAIC-GMAC Automotive Finance Company Limited (SAIC-GMAC), a joint venture that conducts auto finance operations in China. The income of SAIC-GMAC is not consolidated into our financial statements; rather, our proportionate share of the earnings is reflected as equity income.

There were no cash dividends received from SAIC-GMAC during the three months ended March 31, 2017. We received cash dividends from SAIC-GMAC of $27 million during the three months ended March 31, 2016. At March 31, 2017 we had undistributed earnings of $189 million related to SAIC-GMAC.