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Equity in Net Assets of Non-consolidated Affiliates
 12 Months Ended
Dec. 31, 2019
Equity Method Investments and Joint Ventures [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 joint ventures. The income of these joint ventures is not consolidated into our financial statements; rather, our proportionate share of the earnings is reflected as equity income.
In August 2018, we made a $51 million capital investment representing a 35% equity interest in the newly-formed joint venture SAIC-GMF Leasing Co. Ltd., which was established to conduct auto leasing operations in China.
The following table presents certain aggregated financial data of our joint ventures:
Summarized Balance Sheet Data
December 31, 2019
 
December 31, 2018
Finance receivables, net
$
18,358

 
$
16,555

Total assets
$
19,594

 
$
19,368

Debt
$
14,321

 
$
13,618

Total liabilities
$
16,352

 
$
16,439

 
Years Ended December 31,
Summarized Operating Data
2019
 
2018
 
2017
Finance charge income
$
1,369

 
$
1,246

 
$
1,053

Income before income taxes
$
630

 
$
696

 
$
661

Net income
$
473

 
$
522

 
$
496


The following table summarizes our direct ownership interests in joint ventures:
Joint Ventures
December 31, 2019
 
December 31, 2018
SAIC-GMAC Automotive Finance Company Limited (SAIC–GMAC)
35
%
 
35
%
SAIC-GMF Leasing Co. Ltd.
35
%
 
35
%

In October 2019, SAIC-GMAC paid a $140 million cash dividend of which our share was $49 million. There were no dividends received from SAIC-GMAC in 2018. At December 31, 2019 and 2018, we had undistributed earnings of $615 million and $498 million related to our non-consolidated affiliates.