Unconsolidated Affiliated Companies

9 Months Ended

Sep. 29, 2017

Equity Method Investments and Joint Ventures [Abstract]

Unconsolidated Affiliated Companies

Unconsolidated Affiliated Companies

Unconsolidated affiliated companies are those in which the Company generally owns less than 50 percent of the outstanding voting shares. The Company does not control these companies and accounts for its investments in them on the equity method basis. The unconsolidated affiliated companies primarily manufacture or market wire and cable products in the Latin America and Africa/Asia Pacific segments. The Company’s share of the income of these companies is reported in the Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) under “Equity in net earnings of affiliated companies.” Equity in net earnings of affiliated companies was immaterial for the three and nine fiscal months ended September 29, 2017. For the three and nine fiscal months ended September 30, 2016, equity in net earnings of affiliated companies was $0.3 million and $0.7 million, respectively. The net investment in unconsolidated affiliated companies was $0.2 million and $9.0 million as of September 29, 2017 and December 31, 2016, respectively. As of September 29, 2017, the Company’s ownership percentage was as follows: Colada Continua Chilena, S.A. 41% and Nostag GmbH & Co. KG 33%.