Equity Affiliates

12 Months Ended

Dec. 31, 2012

Equity Affiliates

Note 20. 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.

Dividends received from equity affiliates were $3, $4 and $2 in 2012, 2011 and 2010.

Equity method investments exceeding $5 at December 31, 2012 —

	Ownership
	Percentage	Investment
Dongfeng Dana Axle Co., Ltd.	50%	$	148
Bendix Spicer Foundation Brake, LLC	20%		34
Axles India Limited	48%		8
All others as a group	Various		10
Investments in equity affiliates			200
Investment in affiliates carried at cost	Various		2
Investment in affiliates		$	202

The carrying value of our equity method investments at December 31, 2012 was $81 more than our share of the affiliates’ book value, including $47 attributable to goodwill. The difference between the investment carrying value and the amount of underlying equity in assets, excluding the $47 attributable to goodwill, is being amortized on a straight line basis over the underlying assets’ estimated useful lives of five to 45 years.

Summarized financial information for DDAC and other equity affiliates on a combined basis —

	DDAC							Other Equity Affiliates Combined
	2012			2011		2010		2012		2011*		2010
Sales	$	683		$	951	$	1,040	$	522	$	1,134	$	977
Gross profit	$	68		$	100	$	112	$	75	$	162	$	150
Pre-tax income	$	8		$	43	$	30	$	21	$	50	$	36
Net income	$	7		$	36	$	26	$	16	$	36	$	26
Dana's equity earnings in affiliate	$	(1	)	$	8	$	1	$	3	$	13	$	10

* Includes results of GETRAG Entities through September 30, 2011.

					Other Equity
	DDAC				Affiliates Combined
	2012		2011		2012		2011
Current assets	$	487	$	647	$	141	$	179
Noncurrent assets		152		152		71		75
Total assets	$	639	$	799	$	212	$	254
Current liabilities	$	454	$	627	$	89	$	128
Noncurrent liabilities		18		15		23		33
Total liabilities	$	472	$	642	$	112	$	161