Equity in Net Assets of Nonconsolidated Affiliates

Nonconsolidated affiliates are entities in which an equity ownership interest is maintained and for which the equity method of accounting is used due to our ability to exert significant influence over decisions relating to their operating and financial affairs. Revenue and expenses of our joint ventures are not consolidated into our financial statements; rather, our proportionate share of the earnings of each joint venture is reflected as Equity income.



	Years Ended December 31,
	2017		2016		2015
Automotive China equity income	$	1,976	$	1,973	$	2,057
Other joint ventures equity income	156		309		136
Total Equity income	$	2,132	$	2,282	$	2,193

Investments in Nonconsolidated Affiliates



	December 31, 2017		December 31, 2016
Automotive China carrying amount	$	7,832	$	7,859
Other investments carrying amount	1,241		1,137
Total equity in net assets of nonconsolidated affiliates	$	9,073	$	8,996

The carrying amount of our investments in certain joint ventures exceeded our share of the underlying net assets by $4.3 billion at December 31, 2017 and 2016 due primarily to goodwill from the application of fresh-start reporting and the purchase of additional interests in nonconsolidated affiliates.

The following table summarizes our direct ownership interests in our China JVs:



	December 31, 2017		December 31, 2016
Automotive China JVs
SAIC General Motors Corp., Ltd. (SGM)	50	%	50	%
FAW-GM Light Duty Commercial Vehicle Co., Ltd. (FAW-GM)	50	%	50	%
Pan Asia Technical Automotive Center Co., Ltd.	50	%	50	%
SAIC General Motors Sales Co., Ltd.	49	%	49	%
SAIC GM Wuling Automobile Co., Ltd. (SGMW)	44	%	44	%
Shanghai OnStar Telematics Co., Ltd. (Shanghai OnStar)	40	%	40	%
SAIC GM (Shenyang) Norsom Motors Co., Ltd. (SGM Norsom)	25	%	25	%
SAIC GM Dong Yue Motors Co., Ltd. (SGM DY)	25	%	25	%
SAIC GM Dong Yue Powertrain Co., Ltd. (SGM DYPT)	25	%	25	%
Shanghai Chengxin Used Car Operation and Management Co., Ltd. (Shanghai Chengxin Used Car)	—	%	33	%
Other joint ventures
SAIC-GMAC	35	%	35	%

SGM is a joint venture we established with Shanghai Automotive Industry Corporation (SAIC) (50%). SGM has interests in three other joint ventures in China: SGM Norsom, SGM DY and SGM DYPT. These three joint ventures are jointly held by SGM (50%), SAIC (25%) and ourselves. These four joint ventures are engaged in the production, import and sale of a range of products under the Buick, Chevrolet and Cadillac brands. SGM also has interests in Shanghai OnStar (20%) and SAIC-GMAC (20%). Shanghai Automotive Group Finance Company Ltd., a subsidiary of SAIC, owns 45% of SAIC-GMAC.

Summarized Financial Data of Nonconsolidated Affiliates



	December 31, 2017						December 31, 2016
	Automotive China JVs		Others		Total		Automotive China JVs		Others		Total
Summarized Balance Sheet Data
Current assets	$	17,370	$	13,484	$	30,854	$	17,325	$	8,383	$	25,708
Non-current assets	14,188		3,409		17,597		12,712		5,991		18,703
Total assets	$	31,558	$	16,893	$	48,451	$	30,037	$	14,374	$	44,411

Current liabilities	$	22,642	$	12,255	$	34,897	$	21,428	$	7,277	$	28,705
Non-current liabilities	1,639		1,903		3,542		1,393		3,898		5,291
Total liabilities	$	24,281	$	14,158	$	38,439	$	22,821	$	11,175	$	33,996

Noncontrolling interests	$	871	$	1	$	872	$	856	$	1	$	857



	Years Ended December 31,
	2017		2016		2015
Summarized Operating Data
Automotive China JVs' net sales	$	50,065	$	47,150	$	44,959
Others' net sales	2,542		2,412		3,571
Total net sales	$	52,607	$	49,562	$	48,530

Automotive China JVs' net income	$	3,984	$	4,117	$	4,290
Others' net income	648		378		435
Total net income	$	4,632	$	4,495	$	4,725

Transactions with Nonconsolidated Affiliates Our nonconsolidated affiliates are involved in various aspects of the development, production and marketing of cars, trucks, crossovers and automobile parts. We enter into transactions with certain nonconsolidated affiliates to purchase and sell component parts and vehicles. The following tables summarize transactions with and balances related to our nonconsolidated affiliates:



	Years Ended December 31,
	2017		2016		2015
Automotive sales and revenue	$	923	$	889	$	1,745
Automotive purchases, net	$	674	$	803	$	7
Dividends received	$	2,000	$	2,120	$	2,047
Operating cash flows	$	2,321	$	2,512	$	3,853



	December 31, 2017		December 31, 2016
Accounts and notes receivable, net	$	780	$	807
Accounts payable	$	534	$	553
Undistributed earnings	$	2,184	$	2,172