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Investments in Affiliates and Other Related Party Transactions
 12 Months Ended
Dec. 31, 2021
Equity Method Investments and Joint Ventures [Abstract]  
Investments in Affiliates and Other Related Party Transactions Investments in Affiliates and Other Related Party Transactions
The Company's beneficial ownership in affiliates accounted for under the equity method is shown below:
December 31,202120202019
Beijing BHAP Lear Automotive Systems Co., Ltd. (China)50%50%50%
Guangzhou Lear Automotive Components Co., Ltd. (China)505050
Jiangxi Jiangling Lear Interior Systems Co., Ltd. (China)505050
Lear Dongfeng Automotive Seating Co., Ltd. (China)505050
Changchun Lear FAWSN Automotive Seat Systems Co., Ltd. (China)494949
Honduras Electrical Distribution Systems S. de R.L. de C.V. (Honduras)494949
Kyungshin-Lear Sales and Engineering LLC494949
Shenyang Jinbei Lear Automotive Seating Co. Ltd. (China)49——
Beijing Lear Hyundai Transys Co., Ltd. (China)
404040
Hyundai Transys Lear Automotive Private Limited (India)353535
Techstars Corporate Partner 2017 LLC343438
RevoLaze, LLC202020
Maniv Mobility II A, L.P.798
Autotech Fund II, L.P. 446
Trucks Venture Fund 2, L.P.534
Summarized group financial information for affiliates accounted for under the equity method as of December 31, 2021 and 2020, and for the years ended December 31, 2021, 2020 and 2019, is shown below (unaudited; in millions):
December 31,20212020
Balance sheet data:
Current assets$1,217.5 $1,136.3 
Non-current assets239.5 194.4 
Current liabilities921.7 901.7 
Non-current liabilities6.7 6.2 
For the year ended December 31,202120202019
Income statement data:
Net sales$1,833.6 $1,597.5 $1,670.0 
Gross profit50.1 83.0 89.2 
Income before provision for income taxes104.5 73.8 85.7 
Net income attributable to affiliates80.5 44.8 53.5 
A summary of amounts recorded in the Company's consolidated balance sheets related to its affiliates is shown below (in millions):
December 31,20212020
Aggregate investment in affiliates$184.7 $142.9 
Receivables due from affiliates (including notes and advances)143.0 142.0 
Payables due to affiliates0.7 1.6 
A summary of transactions with affiliates accounted for under the equity method and other related parties is shown below (in millions):
For the year ended December 31,202120202019
Sales to affiliates$676.6 $656.4 $647.2 
Purchases from affiliates4.4 1.9 1.6 
Management and other fees for services provided to affiliates38.5 28.3 35.5 
Dividends received from affiliates26.8 24.6 23.3 
The Company has certain investments with beneficial ownership interests of less than 20% that are accounted for under the equity method as the Company's beneficial ownership interests in these entities are similar to partnership interests.
2021
In 2021, the Company acquired a 49% interest in Shenyang Jinbei Lear Automotive Seating Co. Ltd. ("Shenyang Jinbei") for $41.3 million. The investment is accounted for under the equity method as the Company does not control Shenyang Jinbei but does have the ability to exercise significant influence over certain operating and financial policies of Shenyang Jinbei. The acquisition cost is classified within cash flows used in investing activities in the accompanying consolidated statement of cash flows for the year ended December 31, 2021.
2019
In 2019, the Company deconsolidated Guangzhou Automobile Group Component Co., Ltd. ("GACC") as it no longer controls this entity. As a result, the carrying values of the assets and liabilities of GACC are not reflected in the consolidated balance sheet as of December 31, 2019 In addition, the Company recorded a gain of $4.0 million related to the excess of the estimated fair value over the carrying value of its interest in GACC immediately prior to deconsolidation. The gain is included in other expense, net in the accompanying consolidated statement of income for the year ended December 31, 2019.
For further information related to acquired assets measured at fair value, see Note 16, "Financial Instruments."