Equity Affiliates

9 Months Ended

Sep. 30, 2011

Note 18. Equity Affiliates

Equity Affiliates — At September 30, 2011, we had a number of investments in entities that engage in the manufacture of vehicular parts — primarily axles, driveshafts and wheel-end braking systems — supplied to OEMs.

The following table reflects our ownership percentages and the balances of equity method investments exceeding $5 at September 30, 2011:

	Ownership
	Percentage		Investment
Dongfeng Dana Axle Co., Ltd.		50%	$	140
Bendix Spicer Foundation Brake, LLC		20%		29
Axles India Limited		48%		9
All others as a group	Various			7
Investments in equity affiliates				185
Investment in affiliates carried at cost	Various			5
Investment in affiliates			$	190

The following table presents summarized financial information for GETRAG Corporation:

	Nine Months Ended September 30,
	2011		2010
Sales	$	335	$	282
Gross profit	$	48	$	37
Pre-tax income	$	18	$	12
Net income	$	11	$	6
Parent company equity earnings in affiliate	$	5	$	3

On September 30, 2011, we completed the divestitures of our 49% equity interest in GETRAG Corporation and our 42% equity interest in GETRAG Dana Holding GmbH for $136. The divestitures were effected pursuant to the terms of purchase agreements dated July 21, 2011. A $60 gain was recorded in connection with the divestitures and included in other income, net on Dana’s consolidated statement of operations.

- Definition

The entire disclosure for equity investment, or group of investments, for which combined disclosure is appropriate, including: (a) the name of each investee and percentage of ownership of common stock, (b) accounting policies for investments in common stock, (c) difference between the amount at which the investment is carried and the amount of underlying equity in net assets and the accounting treatment of the difference, (d) the total fair value of each identified investment for which a market value is available, (e) summarized information as to assets, liabilities, and results of operations of the investees (for investments in unconsolidated subsidiaries, common stock of joint ventures, or other investments using the equity method), and (f) material effects of possible conversions, exercises, or contingent issuances of the investee. Other disclosures include (a) the names of any investee in which the investor owns 20 percent or more of the voting stock and investment is not accounted for using the equity method, and the reasons why not, and (b) the names of any investee in which the investor owns less than 20 percent of the voting stock and the investment is accounted for using the equity method, and the reasons why it is.

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