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Equity Method Investment
 3 Months Ended
Mar. 31, 2020
Equity Method Investments and Joint Ventures [Abstract]  
Equity Method Investment Equity Method Investment
As of March 31, 2020, the Company has one equity method investment, which is Zenuity, a 50% ownership joint venture with Volvo cars.
During the first quarter of 2020, Veoneer contributed SEK 150 million (approximately $16 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, 2020 and 2019 was $18 million and $17 million, respectively. As of March 31, 2020 and December 31, 2019, the Company’s equity investment in Zenuity was $79 million and $87 million, respectively.
Certain unaudited summarized income statement information of Zenuity, for the three months ended March 31, 2020 and 2019, is shown below:
Three Months Ended March 31
(Dollars in millions)20202019
Net sales$1  $—  
Gross profit—  —  
Operating loss(37) (34) 
Loss before income taxes(36) (34) 
Net loss(37) (34)