Equity Method Investment

12 Months Ended

Dec. 31, 2013

Equity Method Investments And Joint Ventures [Abstract]

Equity Method Investment

Note 6: Equity Method Investment

We have a 50% ownership interest in Xuzhou Hirschmann Electronics Co., Ltd. (the Hirschmann JV), which we acquired in connection with our 2007 acquisition of Hirschmann Automation and Control GmbH. The Hirschmann JV is an entity located in China that supplies load-moment indicators to the industrial crane market. We account for this investment using the equity method of accounting. The results of our equity method investment in the Hirschmann JV are analyzed separately from the results of our operating segments, and they are not included in the corporate expense allocation.

Summary financial information for the Hirschmann JV is as follows:

			December 31,
	2013		2012		2011
	(In thousands)
Current assets	$	49,408	$	46,042	$	63,879
Noncurrent assets		3,801		4,107		4,020
Current liabilities		21,524		13,132		26,914
Noncurrent liabilities		447		207		205
	Years Ended December 31,
	2013		2012		2011
	(In thousands)
Revenues	$	41,257	$	56,564	$	69,431
Gross profit		27,332		29,067		34,100
Operating income		19,821		22,317		27,771
Net income		17,844		19,408		26,338
Net income attributable to Belden		8,922		9,704		13,169

The carrying value recorded in other long-lived assets on our Consolidated Balance Sheets of our investment in the Hirschmann JV as of December 31, 2013 and 2012 is $38.3 million and $35.4 million, respectively. The difference between this carrying value and our share of the Hirschmann JV’s net assets is primarily attributable to goodwill.

We had sales of $3.6 million, $5.7 million, and $19.4 million to the Hirschmann JV in 2013, 2012, and 2011, respectively. We received $8.1 million, $12.5 million, and $10.9 million in dividends from the Hirschmann JV in 2013, 2012, and 2011, respectively. We had receivables from the Hirschmann JV as of December 31, 2013 and 2012 of $0.3 million and $2.4 million, respectively.