Note 7 - Redeemable Noncontrolling Interests

6 Months Ended

Jun. 30, 2022

Notes to Financial Statements

Redeemable Noncontrolling Interest Disclosure [Text Block]

Hydro-Québec holds 45% redeemable noncontrolling interest in Dana TM4 Inc., Dana TM4 USA, LLC, Dana (Beijing) Electric Motor Co., Ltd., Dana TM4 Italia S.r.l., Ashwoods Innovations Ltd., Dana TM4 India Private Limited and Dana TM4 (Sweden) AB (together Dana TM4). Hydro-Québec may put all, and not less than all, of its ownership interests in Dana TM4 to Dana at fair value. 

Redeemable noncontrolling interests reflected as of the balance sheet date are the greater of the redeemable noncontrolling interest balances adjusted for comprehensive income items and distributions or the redemption value. Redeemable noncontrolling interest adjustments of redemption value are recorded in retained earnings. We estimate the fair value of the redemption value using an income based approach based on discounted cash flow projections. In determining fair value using discounted cash flow projections, we make significant assumptions and estimates about the extent and timing of future cash flows, including revenue growth rates, projected EBITDA, discount rates and terminal growth rates. 

Reconciliation of changes in redeemable noncontrolling interests —

	Three Months Ended						Six Months Ended
	June 30,						June 30,
	2022			2021			2022			2021
Balance, beginning of period	$	200		$	182		$	198		$	180
Capital contribution from redeemable noncontrolling interest		5			2			7			3
Adjustment to redemption value		1			4			2			8
Other					(1	)					(1	)
Comprehensive income (loss) adjustments:
Net loss attributable to redeemable noncontrolling interests		(1	)		(4	)		(2	)		(8	)
Other comprehensive income (loss) attributable to redeemable noncontrolling interests		(6	)		11			(6	)		12
Balance, end of period	$	199		$	194		$	199		$	194