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Equity in Net Assets of Non-consolidated Affiliate
 9 Months Ended
Sep. 30, 2018
Noncontrolling Interest [Abstract]  
Equity in Net Assets of Non-consolidated Affiliate
Equity in Net Assets of Non-consolidated Affiliates
We use the equity method to account for our equity interest in joint ventures. The income of these joint ventures is not consolidated into our financial statements; rather, our proportionate share of the earnings is reflected as equity income.
On August 9, 2018, we made a $51 million capital investment representing a 35% equity interest in the newly-formed joint venture SAIC-GMF Leasing Co. Ltd., which was established to conduct auto leasing operations in China.
We hold a 35% equity interest in SAIC-GMAC Automotive Finance Company Limited (SAIC-GMAC), which conducts auto finance operations in China. The following table presents summarized operating data related to SAIC-GMAC. This data represents that of the entire entity and not our proportionate share:
 
Three Months Ended September 30,
 
Nine Months Ended September 30,
Summarized Operating Data
2018
 
2017
 
2018
 
2017
Finance charge income
$
305

 
$
261

 
$
927

 
$
775

Provision for loan losses
$
4

 
$
2

 
$
13

 
$
(9
)
Interest expense
$
127

 
$
83

 
$
383

 
$
241

Income before income taxes
$
168

 
$
157

 
$
537

 
$
490

Net income
$
126

 
$
118

 
$
403

 
$
368

During the nine months ended September 30, 2018 and 2017, there were no dividends received from SAIC-GMAC. At September 30, 2018 and December 31, 2017, we had undistributed earnings of $456 million and $315 million related to SAIC-GMAC.