XML 25 R32.htm IDEA: XBRL DOCUMENT v3.20.1
Investment in Nonconsolidated Affiliates (Tables)
3 Months Ended
Mar. 31, 2020
Equity Method Investments and Joint Ventures [Abstract]  
Equity Method Investments
The following tables present summarized aggregated financial information of the Company's nonconsolidated affiliates for the three months ended March 31, 2020 and 2019. The amounts represent 100% of the interest in the nonconsolidated affiliates and not the Company's proportionate share:
 
Three Months Ended March 31, 2020
Statements of Income
Otomotiv A.S.
 
Anqing TP Goetze
 
Other
 
Total
Sales
$
96

 
$
30

 
$
105

 
$
231

Gross profit
$
26

 
$
6

 
$
20

 
$
52

Income from continuing operations
$
23

 
$
7

 
$
9

 
$
39

Net income
$
18

 
$
6

 
$
6

 
$
30


 
Three Months Ended March 31, 2019
Statements of Income
Otomotiv A.S.
 
Anqing TP Goetze
 
Other
 
Total
Sales
$
91

 
$
39

 
$
125

 
$
255

Gross profit
$
21

 
$
16

 
$
23

 
$
60

Income from continuing operations
$
19

 
$
11

 
$
13

 
$
43

Net income
$
18

 
$
9

 
$
11

 
$
38


The Company's ownership interest in affiliates accounted for under the equity method is as follows:
 
March 31, 2020
 
December 31, 2019
Anqing TP Goetze Piston Ring Company Limited (China)
35.7
%
 
35.7
%
Anqing TP Powder Metallurgy Co., Ltd (China)
20.0
%
 
20.0
%
Dongsuh Federal-Mogul Industrial Co. Ltd. (Korea)
50.0
%
 
50.0
%
Farloc Argentina SAIC Y F (Argentina)
23.9
%
 
23.9
%
Federal-Mogul Powertrain Otomotiv A.S. (Turkey)
50.0
%
 
50.0
%
Federal-Mogul TP Liner Europe Otomotiv Ltd. Sti. (Turkey)
25.0
%
 
25.0
%
Federal-Mogul TP Liners, Inc. (USA)
46.0
%
 
46.0
%
Frenos Hidraulicos Automotrices, S.A. de C.V. (Mexico)
49.0
%
 
49.0
%
JURID do Brasil Sistemas Automotivos Ltda. (Brazil)
19.9
%
 
19.9
%
KB Autosys Co., Ltd. (Korea)
33.6
%
 
33.6
%
Montagewerk Abgastechnik Emden GmbH (Germany)
50.0
%
 
50.0
%

The Company's investments in its nonconsolidated affiliates at March 31, 2020 and December 31, 2019 is as follows:
 
March 31, 2020
 
December 31, 2019
Investments in nonconsolidated affiliates
$
509

 
$
518


The following table represents the activity from the Company's investments in its nonconsolidated affiliates for the three months ended March 31, 2020 and 2019:
 
Three Months Ended March 31,
 
2020
 
2019
Equity in earnings (losses) of nonconsolidated affiliates, net of tax
$
13

 
$
16

Cash dividends received from nonconsolidated affiliates
$
13

 
$
15