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Investment in Unconsolidated Affiliates
 12 Months Ended
Dec. 26, 2020
Equity Method Investments and Joint Ventures [Abstract]  
Investment in Unconsolidated Affiliates Investments in Unconsolidated Affiliates
Tecumseh

The Company owns a 50 percent interest in an unconsolidated affiliate that acquired Tecumseh.  The Company also owns a 50 percent interest in a second unconsolidated affiliate that provides financing to Tecumseh.  Tecumseh is a global manufacturer of hermetically sealed compressors for residential and specialty air conditioning, household refrigerators and freezers, and commercial refrigeration applications, including air conditioning and refrigeration compressors, as well as condensing units, heat pumps, and complete refrigeration systems.

The following tables present summarized financial information derived from the Company’s equity method investees’ combined consolidated financial statements, which are prepared in accordance with U.S. GAAP.
 
(In thousands)20202019
Current assets$167,451 $198,559 
Noncurrent assets78,241 87,218 
Current liabilities120,202 147,801 
Noncurrent liabilities50,020 51,219 
Net sales$384,919 $488,270 
Gross profit50,347 58,494 
Net loss(20,892)(44,053)

The Company’s loss from unconsolidated affiliates, net of foreign tax, for 2020 and 2019 included net losses of $10.4 million and $22.0 million, respectively, for Tecumseh.

Mueller Middle East

On December 30, 2015, the Company entered into a joint venture agreement with Cayan Ventures and Bahrain Mumtalakat Holding Company to build a copper tube mill in Bahrain. The business operates and brands its products under the Mueller Industries family of brands. The Company has invested approximately $5.0 million of cash to date and is the technical and marketing lead with a 40 percent ownership in the joint venture.

The Company’s loss from unconsolidated affiliates, net of foreign tax, for 2020 and 2019 included net gains of $0.2 million and net losses of $2.6 million, respectively, for Mueller Middle East.

Mueller Middle East manufactures and sells copper coils to certain Mueller subsidiaries. For the year ended December 26, 2020, total sales to Mueller subsidiaries were approximately $37.4 million.