Note 21 - Equity Affiliates

12 Months Ended

Dec. 31, 2023

Notes to Financial Statements

Equity Method Investments and Joint Ventures Disclosure [Text Block]

Note 21. Equity Affiliates

We have a number of investments in entities that engage in the manufacture and supply of vehicular parts (primarily axles, axle housing and driveshafts).

Dividends received from equity affiliates were $3, $32 and $18 in 2023, 2022 and 2021.

Equity method investments exceeding $5 at  December 31, 2023 —

	Ownership Percentage	Investment
Dongfeng Dana Axle Co., Ltd. (DDAC)	50%	$	52
ROC-Spicer, Ltd. (ROC-Spicer)	50%		22
Axles India Limited (AIL)	48%		14
Tai Ya Investment (HK) Co., Limited (Tai Ya)	50%		5
All others as a group			6
Investments in equity affiliates			99
Investments in affiliates carried at cost			24
Investments in affiliates		$	123

Our equity method investment in ROC-Spicer and Tai Ya are included in the net assets of our Light Vehicle operating segment. Our equity method investments in DDAC and AIL are included in the net assets of our Commercial Vehicle operating segment.

The carrying value of our equity method investments at  December 31, 2023 was $5 more than our share of the affiliates’ book values. The basis differences relate to our DDAC and ROC-Spicer investments and are primarily attributable to goodwill and property, plant and equipment.