Equity In Net Assets Of Nonconsolidated Affiliates

12 Months Ended

Dec. 31, 2019

Equity Method Investments and Joint Ventures [Abstract]

Equity in Net Assets of Nonconsolidated Affiliates

Nonconsolidated affiliates are entities in which we maintain an equity ownership interest and for which we use the equity method of accounting 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,
	2019		2018		2017
Automotive China equity income	$	1,132	$	1,981	$	1,976
Other joint ventures equity income	136		182		156
Total Equity income	$	1,268	$	2,163	$	2,132

Investments in Nonconsolidated Affiliates



	December 31, 2019		December 31, 2018
Automotive China carrying amount	$	7,044	$	7,779
Other investments carrying amount	1,518		1,436
Total equity in net assets of nonconsolidated affiliates	$	8,562	$	9,215

The carrying amount of our investments in certain joint ventures exceeded our share of the underlying net assets by $4.2 billion and $4.4 billion at December 31, 2019 and 2018 primarily due 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, 2019		December 31, 2018
Automotive China JVs
SAIC General Motors Corp., Ltd. (SGM)	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	%
FAW-GM Light Duty Commercial Vehicle Co., Ltd. (FAW-GM)(a)	—	%	50	%
Other joint ventures
SAIC-GMAC Automotive Finance Company Limited (SAIC-GMAC)	35	%	35	%
SAIC-GMF Leasing Co., Ltd.	35	%	35	%

________


(a)	In 2019, we divested our joint venture FAW-GM.

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%), SAIC-GMAC (20%) and SAIC-GMF Leasing Co., Ltd. (20%). Shanghai Automotive Group Finance Company Ltd., a subsidiary of SAIC, owns 45% of SAIC-GMAC. SAIC Financial Holdings Company, a subsidiary of SAIC, owns 45% of SAIC-GMF Leasing Co., Ltd.

Summarized Financial Data of Nonconsolidated Affiliates



	December 31, 2019						December 31, 2018
	Automotive China JVs		Others		Total		Automotive China JVs		Others		Total
Summarized Balance Sheet Data
Current assets	$	14,035	$	13,319	$	27,354	$	16,506	$	16,234	$	32,740
Non-current assets	14,484		6,680		21,164		14,012		3,870		17,882
Total assets	$	28,519	$	19,999	$	48,518	$	30,518	$	20,104	$	50,622

Current liabilities	$	21,256	$	11,588	$	32,844	$	21,574	$	13,985	$	35,559
Non-current liabilities	968		5,017		5,985		1,689		2,826		4,515
Total liabilities	$	22,224	$	16,605	$	38,829	$	23,263	$	16,811	$	40,074

Noncontrolling interests	$	847	$	1	$	848	$	865	$	1	$	866



	Years Ended December 31,
	2019		2018		2017
Summarized Operating Data
Automotive China JVs' net sales	$	39,123	$	50,316	$	50,065
Others' net sales	1,815		1,721		2,542
Total net sales	$	40,938	$	52,037	$	52,607

Automotive China JVs' net income	$	2,258	$	3,992	$	3,984
Others' net income	477		536		648
Total net income	$	2,735	$	4,528	$	4,632

Transactions with Nonconsolidated Affiliates Our nonconsolidated affiliates are involved in various aspects of the development, production and marketing of trucks, crossovers, cars 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,
	2019		2018		2017
Automotive sales and revenue	$	199	$	406	$	923
Automotive purchases, net	$	1,065	$	1,155	$	674
Dividends received	$	1,852	$	2,022	$	2,000
Operating cash flows	$	913	$	657	$	2,321



	December 31, 2019		December 31, 2018
Accounts and notes receivable, net	$	1,007	$	979
Accounts payable	$	369	$	163
Undistributed earnings	$	2,118	$	2,331