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Equity Method Investment
 3 Months Ended
Mar. 31, 2019
Equity Method Investments and Joint Ventures [Abstract]  
Equity Method Investment
Equity Method Investment
As of March 31, 2019, the Company has one equity method investment in Zenuity a 50% joint venture ownership with Volvo cars.
At the end of the first quarter of 2018, Veoneer contributed SEK 600 million (approximately $71 million) in cash (representing 50% of the total contribution, with the remainder made by Volvo Cars) into Zenuity to support its future operating cash flow needs.
The profit and loss attributed to the investment is shown in the line item Loss from equity method investment in the Unaudited Condensed Consolidated Statements of Operations. Veoneer’s share of Zenuity’s loss for the three months ended March 31, 2019 and 2018 was $17 million and $14 million, respectively. As of March 31, 2019 and December 31, 2018, the Company’s equity investment in Zenuity amounted to $81 million and $101 million, respectively, after consideration of foreign exchange movements.
Certain Unaudited Summarized Income Statement information of Zenuity, for the three months ended March 31, 2019 and 2018, is shown below:
 
Three Months Ended March 31
 
2019
 
2018
Net sales
$
—

 
$
1

Gross profit
—

 
—

Operating loss
(34
)
 
(28
)
Loss before income taxes
(34
)
 
(28
)
Net loss
$
(34
)
 
$
(28
)