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Equity In Net Assets Of Nonconsolidated Affiliates | 12 Months Ended
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Dec. 31, 2021
Equity Method Investments and Joint Ventures [Abstract] |
Equity in Net Assets of Nonconsolidated Affiliates | 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,
| 2021 |  | 2020 |  | 2019
Automotive China equity income | $ | 1,098 |  |  | $ | 512 |  |  | $ | 1,132 |
Other joint ventures equity income | 203 |  |  | 162 |  |  | 136 |
Total Equity income | $ | 1,301 |  |  | $ | 674 |  |  | $ | 1,268 |
Investments in Nonconsolidated Affiliates
| December 31, 2021 |  | December 31, 2020
Automotive China carrying amount | $ | 7,156 |  |  | $ | 6,599 |
Other investments carrying amount | 2,521 |  |  | 1,807 |
Total equity in net assets of nonconsolidated affiliates | $ | 9,677 |  |  | $ | 8,406 |
The carrying amount of our investments in certain joint ventures exceeded our share of the underlying net assets by $4.3 billion and $4.2 billion at December 31, 2021 and 2020 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, 2021 |  | December 31, 2020
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. (SGMS) | 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 | %
Other joint ventures |  |  |
SAIC-GMAC Automotive Finance Company Limited (SAIC-GMAC) | 35 | % |  | 35 | %
SAIC-GMF Leasing Co., Ltd. | 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%), 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, 2021 |  | December 31, 2020
| Automotive China JVs |  | Others |  | Total |  | Automotive China JVs |  | Others |  | Total
Summarized Balance Sheet Data |  |  |  |  |  |  |  |  |  |  |
Current assets | $ | 18,176 |  |  | $ | 18,166 |  |  | $ | 36,342 |  |  | $ | 17,604 |  |  | $ | 16,844 |  |  | $ | 34,448 |
Non-current assets | 13,948 |  |  | 10,042 |  |  | 23,990 |  |  | 14,875 |  |  | 8,634 |  |  | 23,509 |
Total assets | $ | 32,124 |  |  | $ | 28,208 |  |  | $ | 60,332 |  |  | $ | 32,479 |  |  | $ | 25,478 |  |  | $ | 57,957 |
Current liabilities | $ | 24,320 |  |  | $ | 17,141 |  |  | $ | 41,461 |  |  | $ | 25,633 |  |  | $ | 14,808 |  |  | $ | 40,441 |
Non-current liabilities | 1,223 |  |  | 5,607 |  |  | 6,830 |  |  | 1,163 |  |  | 6,654 |  |  | 7,817 |
Total liabilities | $ | 25,543 |  |  | $ | 22,748 |  |  | $ | 48,291 |  |  | $ | 26,796 |  |  | $ | 21,462 |  |  | $ | 48,258 |
Noncontrolling interests | $ | 867 |  |  | $ | — |  |  | $ | 867 |  |  | $ | 824 |  |  | $ | 1 |  |  | $ | 825 |
| Years Ended December 31,
| 2021 |  | 2020 |  | 2019
Summarized Operating Data |  |  |  |  |
Automotive China JVs' net sales | $ | 42,776 |  |  | $ | 38,736 |  |  | $ | 39,123 |
Others' net sales | 2,017 |  |  | 1,850 |  |  | 1,815 |
Total net sales | $ | 44,793 |  |  | $ | 40,586 |  |  | $ | 40,938 |
Automotive China JVs' net income | $ | 2,109 |  |  | $ | 1,239 |  |  | $ | 2,258 |
Others' net income | 587 |  |  | 436 |  |  | 477 |
Total net income | $ | 2,696 |  |  | $ | 1,675 |  |  | $ | 2,735 |
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,
| 2021 |  | 2020 |  | 2019
Automotive sales and revenue | $ | 227 |  |  | $ | 235 |  |  | $ | 199 |
Automotive purchases, net | $ | 1,551 |  |  | $ | 165 |  |  | $ | 1,065 |
Dividends received | $ | 783 |  |  | $ | 1,198 |  |  | $ | 1,852 |
Operating cash flows | $ | (616) |  |  | $ | 1,473 |  |  | $ | 913 |
| December 31, 2021 |  | December 31, 2020
Accounts and notes receivable, net | $ | 1,004 |  |  | $ | 954 |
Accounts payable | $ | 555 |  |  | $ | 494 |
Undistributed earnings | $ | 2,111 |  |  | $ | 1,594 |

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- Definition The entire disclosure for equity method investments and joint ventures. Equity method investments are investments that give the investor the ability to exercise significant influence over the operating and financial policies of an investee. Joint ventures are entities owned and operated by a small group of businesses as a separate and specific business or project for the mutual benefit of the members of the group. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 323 -URI http://asc.fasb.org/topic&trid=2196965 + Details
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