Equity Affiliates

9 Months Ended

Sep. 30, 2012

Note 18. Equity Affiliates

We have 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.

Equity method investments exceeding $5 at September 30, 2012 —

	Ownership
	Percentage		Investment
Dongfeng Dana Axle Co., Ltd.		50%	$	148
Bendix Spicer Foundation Brake, LLC		20%		32
Axles India Limited		48%		8
All others as a group		Various		13
Investments in equity affiliates				201
Investment in affiliates carried at cost		Various		2
Investment in affiliates			$	203

Summarized financial information for DDAC —

	Three Months Ended					Nine Months Ended
	September 30,					September 30,
	2012			2011		2012		2011
Sales	$	150		$	217	$	528	$	719
Gross profit	$	14		$	28	$	54	$	72
Pre-tax income				$	5	$	9	$	27
Net income				$	5	$	8	$	24
Dana's equity earnings in affiliate	$	(1	)	$	1	$	1	$	2

- Definition

The entire disclosure for equity method investments and joint ventures. Equity method investments are investments that give the investor the ability to exercise significant influence over the operating and financial policies of an investee. Joint ventures are entities owned and operated by a small group of businesses as a separate and specific business or project for the mutual benefit of the members of the group.

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