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Investment in Nonconsolidated Affiliates
6 Months Ended
Jun. 30, 2021
Equity Method Investments and Joint Ventures [Abstract]  
Investment in Nonconsolidated Affiliates
7. Investment in Nonconsolidated Affiliates

No significant changes occurred in the Company’s ownership interest in nonconsolidated affiliates since December 31, 2020.

The carrying amount of the Company’s investments in its nonconsolidated affiliates accounted for under the equity method exceeded its share of the underlying net assets by $278 million and $287 million at June 30, 2021 and December 31, 2020.

The following tables present summarized aggregated financial information of the Company’s nonconsolidated affiliates for the three and six months ended June 30, 2021 and 2020. The amounts represent 100% of the interest in the nonconsolidated affiliates and not the Company’s proportionate share:
Three Months Ended June 30, 2021
Statements of IncomeOtomotiv A.S.Anqing TP GoetzeOtherTotal
Sales$94 $52 $136 $282 
Gross profit$29 $14 $29 $72 
Income from continuing operations$25 $14 $15 $54 
Net income$17 $13 $14 $44 
Three Months Ended June 30, 2020
Statements of IncomeOtomotiv A.S.Anqing TP GoetzeOtherTotal
Sales$36 $11 $41 $88 
Gross profit$$$$17 
Income from continuing operations$$$$10 
Net income$$$$11 
Six Months Ended June 30, 2021
Statements of IncomeOtomotiv A.S.Anqing TP GoetzeOtherTotal
Sales$196 $101 $248 $545 
Gross profit$64 $28 $51 $143 
Income from continuing operations$57 $28 $30 $115 
Net income$51 $25 $24 $100 
Six Months Ended June 30, 2020
Statements of IncomeOtomotiv A.S.Anqing TP GoetzeOtherTotal
Sales$120 $41 $146 $307 
Gross profit$32 $11 $26 $69 
Income from continuing operations$27 $11 $11 $49 
Net income$23 $10 $$41 

Refer to Note 16, “Related Party Transactions”, for additional information on balances and transactions with equity method investments.