INVESTMENTS IN AFFILIATES

As part of Delphi’s continuing operations, it has investments in six non-consolidated affiliates accounted for under the equity method of accounting. These affiliates are not publicly traded companies and are located primarily in China and Mexico. Delphi’s ownership percentages vary generally from approximately 20% to 50%, with the most significant investments in Delphi-TVS Diesel Systems Ltd (of which Delphi owns approximately 50%) and Promotora de Partes Electricas Automotrices, S.A. de C.V. (of which Delphi owns approximately 40%). The aggregate investment in non-consolidated affiliates was $94 million and $98 million at December 31, 2015 and 2014, respectively. Dividends of $17 million, $0 million and $21 million for the years ended December 31, 2015, 2014 and 2013, respectively, have been received from non-consolidated affiliates. No impairment charges were recorded for the years ended December 31, 2015, 2014 and 2013.

The following is a summary of the combined financial information of significant affiliates accounted for under the equity method for continuing operations as of December 31, 2015 and 2014 and for the years ended December 31, 2015, 2014 and 2013 (unaudited):



	December 31,
	2015		2014
	(in millions)
Current assets	$	205	$	216
Non-current assets	166		185
Total assets	$	371	$	401
Current liabilities	$	125	$	128
Non-current liabilities	67		81
Shareholders’ equity	179		192
Total liabilities and shareholders’ equity	$	371	$	401



	Year Ended December 31,
	2015		2014		2013
	(in millions)
Net sales	$	557	$	624	$	674
Gross profit	139		143		141
Net income	38		41		39

A summary of transactions with affiliates is shown below:



	Year Ended December 31,
	2015		2014		2013
	(in millions)
Sales to affiliates	$	42	$	57	$	47
Purchases from affiliates	48		55		54