Investment in Non-Consolidated Joint Venture

6 Months Ended

Jun. 30, 2017

Equity Method Investments and Joint Ventures [Abstract]

Investment in Non-Consolidated Joint Venture

Note 11. Investment in Non-Consolidated Joint Venture

As part of the Autocam acquisition, we own a 49% investment in a joint venture with an unrelated entity called Wuxi Weifu Autocam Precision Machinery Company, Ltd. (the “JV”), a Chinese company located in Wuxi, China. The JV is jointly controlled and managed, and it is being accounted for under the equity method.

Below are the components of our JV investment balance and activity for the six months ended June 30, 2017:

Balance as of December 31, 2016	$	36,008
Our share of earnings		3,165
Accretion of basis difference from purchase accounting		(228	)
Foreign currency translation gain		908
Balance as of June 30, 2017	$	39,853

The following table summarizes balance sheet information for the JV:

	June 30,		December 31,
	2017		2016
Current assets	$	40,712	$	31,295
Non-current assets		24,386		22,522
Total assets	$	65,098	$	53,817
Current liabilities	$	16,522	$	13,549
Non-current liabilities		6		—
Total liabilities	$	16,528	$	13,549

We had sales to the JV of approximately $0.1 and $0.1 million during the three and six months ended June 30, 2017. Amounts due to us from the JV were $0.1 million as of June 30, 2017.