Investments in Affiliated Companies

12 Months Ended

Dec. 31, 2023

Investments in Affiliated Companies

Investments in Affiliated Companies

3. Investments in Affiliated Companies

The company owns a 50% interest in two joint ventures with Marubun Corporation (collectively “Marubun/Arrow”) and a 50% interest in one other joint venture. These investments are accounted for using the equity method.

The following table presents the company’s investment in affiliated companies:

(thousands)	2023		2022
Marubun/Arrow	$	50,779	$	54,292
Other		11,962		10,820
	$	62,741	$	65,112

The equity in earnings of affiliated companies consists of the following:

(thousands)	2023		2022		2021
Marubun/Arrow	$	4,452	$	6,289	$	2,684
Other		1,955		1,375		824
	$	6,407	$	7,664	$	3,508

Under the terms of various joint venture agreements, the company is required to pay its pro-rata share of the third-party debt of the joint ventures in the event that the joint ventures are unable to meet their obligations. There were no outstanding borrowings under the third-party debt agreements of the joint ventures as of December 31, 2023 and 2022.