Equity Investments

12 Months Ended

Dec. 31, 2019

Equity Investments

Equity Investments

5. Equity Investments

At December 31, 2019 the Company’s ownership percentage in affiliates include:

	O-I Ownership
Affiliates	Percentage		Business Type
Empresas Comegua S.A.	49.7	%	Glass container manufacturer
BJC O-I Glass Pte. Ltd.	50	%	Glass container manufacturer
CO Vidrieria SARL ("COV")	50	%	Glass container manufacturer
Rocky Mountain Bottle Company	50	%	Glass container manufacturer
Vetrerie Meridionali SpA ("VeMe")	50	%	Glass container manufacturer
Vetri Speciali SpA	50	%	Specialty glass manufacturer

Summarized information pertaining to the Company’s equity affiliates follows:

	2019		2018		2017
Equity in earnings:
Non-U.S.	$	58	$	52	$	45
U.S.		20		25		32
Total	$	78	$	77	$	77
Dividends received	$	42	$	72	$	48

Summarized combined financial information for equity affiliates is as follows (unaudited):

	2019		2018
At end of year:
Current assets	$	460	$	655
Non-current assets		1,356		1,306
Total assets		1,816		1,961
Current liabilities		303		342
Other liabilities and deferred items		158		242
Total liabilities and deferred items		461		584
Net assets	$	1,355	$	1,377

For the year:	2019		2018		2017
Net sales	$	908	$	972	$	883
Gross profit	$	232	$	234	$	242
Net earnings	$	114	$	184	$	165

In December 2019, the Company sold its 25 percent equity interest in Tata Chemicals (Soda Ash) Partners.

Based on an evaluation of each of the Company’s equity investments for the three years ending December 31, 2019, no investments exceeded the significant subsidiary thresholds per Rule 3-09 of Regulation S-X. As such, separate financial statements for the Company’s equity investments are not required to be filed with the Securities and Exchange Commission.

The Company made purchases of approximately $205 million and $255 million from equity affiliates in 2019 and 2018, respectively, and owed approximately $103 million and $111 million to equity affiliates as of December 31, 2019 and 2018, respectively.