Equity Method Investment

12 Months Ended

Dec. 31, 2014

Equity Method Investments and Joint Ventures [Abstract]

Equity Method Investment

Note 6: Equity Method Investment

We have a 50% ownership interest in 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,
	2014		2013		2012
	(In thousands)
Current assets	$	44,679	$	49,408	$	46,042
Noncurrent assets		3,320		3,801		4,107
Current liabilities		19,847		21,524		13,132
Noncurrent liabilities		409		447		207
	Years Ended December 31,
	2014		2013		2012
	(In thousands)
Revenues	$	34,322	$	41,257	$	56,564
Gross profit		17,235		27,332		29,067
Operating income		9,147		19,821		22,317
Net income		7,910		17,844		19,408
Net income attributable to Belden		3,955		8,922		9,704

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, 2014 and 2013 is $33.4 million and $38.3 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 $2.6 million, $3.6 million, and $5.7 million to the Hirschmann JV in 2014, 2013, and 2012, respectively. We received $5.7 million, $8.1 million, and $12.5 million in dividends from the Hirschmann JV in 2014, 2013, and 2012, respectively. We had receivables from the Hirschmann JV as of December 31, 2014 and 2013 of $0.5 million and $0.3 million, respectively.