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Equity in Net Assets of Affiliated Companies (Notes) | 12 Months Ended
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Dec. 31, 2021
Equity Method Investment, Summarized Financial Information [Abstract] |
EQUITY IN NET ASSETS OF AFFILIATED COMPANIES | EQUITY IN NET ASSETS OF AFFILIATED COMPANIES We use the equity method of accounting for our investments in entities over which we do not have control, but over whose operating and financial policies we are able to exercise significant influence. Our carrying value and ownership percentages of our equity method investments at December 31 were as follows (in millions, except percentages):
| Investment Balance |  | Ownership Percentage
| 2020 |  | 2021 |  | 2021
Argo AI, LLC (see Note 22) | $ | 2,368 |  |  | $ | 2,042 |  |  | 41 | %
Changan Ford Automobile Corporation, Limited (a) | 691 |  |  | 860 |  |  | 50 |
Jiangling Motors Corporation, Limited (a) (b) | 592 |  |  | 468 |  |  | 32 |
AutoAlliance (Thailand) Co., Ltd. | 428 |  |  | 391 |  |  | 50 |
Ford Otomotiv Sanayi Anonim Sirketi | 328 |  |  | 278 |  |  | 41 |
Ford Sollers Netherlands B.V. (see Note 21) | 75 |  |  | 108 |  |  | 49 |
FFS Finance South Africa (Pty) Limited | 76 |  |  | 70 |  |  | 50 |
Ionity Holding GmbH & Co. KG | 52 |  |  | 41 |  |  | 20 |
Getrag Ford Transmissions GmbH (a) (b) (See Note 22) | 131 |  |  | — |  |  | 50 |
Other | 160 |  |  | 287 |  |  | Various
Total | $ | 4,901 |  |  | $ | 4,545 |  |  |
__________ (a)In 2020, Changan Ford Automobile Corporation, Limited, Jiangling Motors Corporation, Limited, and Getrag Ford Transmissions GmbH recorded restructuring charges, our share of which was $15 million, $40 million, and $91 million, respectively. These charges are included in Equity in net income/(loss) of affiliated companies. (b)In 2021, Jiangling Motors Corporation, Limited, and Getrag Ford Transmission GmbH recorded restructuring charges, our share of which was $10 million and $40 million, respectively. These charges are included in Equity in net income/(loss) of affiliated companies. We recorded $244 million, $180 million, and $452 million of dividends from these affiliated companies for the years ended December 31, 2019, 2020, and 2021, respectively. In the ordinary course of business, we buy/sell various products and services including vehicles, parts, and components to/from our equity method investees. In addition, we receive royalty income. Transactions with equity method investees reported for the years ended or at December 31 were as follows (in millions):
| For the years ended December 31,
Income Statement | 2019 |  | 2020 |  | 2021
Sales | $ | 3,541 |  |  | $ | 4,126 |  |  | $ | 4,777 |
Purchases | 10,106 |  |  | 8,439 |  |  | 9,245 |
Royalty income | 250 |  |  | 381 |  |  | 458 |
Balance Sheet | 2020 |  | 2021
Receivables | $ | 795 |  |  | $ | 724 |
Payables | 928 |  |  | 1,035 |

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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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