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Investments | 12 Months Ended
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Dec. 31, 2019
Investments, Debt and Equity Securities [Abstract] |
Investments |
9. | INVESTMENTS
|  | 2019 |  |  | 2018 |
Equity method investments [a] |  | $ | 1,107 |  |  | $ | 1,862 |
Private equity investments |  |  | 95 |  |  |  | 323 |
Other |  |  | 8 |  |  |  | 4 |
|  | $ | 1,210 |  |  | $ | 2,189 |
[a] | The ownership percentages and carrying value s of the Company’s principal equity method investments at December 31 were as follows [in millions, except percentages]:
|  |  |  |  | 2019 |  |  | 2018 |
Litens Automotive Partnership [i] |  |  | 76.7 | % |  | $ | 212 |  |  | $ | 188 |
Getrag (Jiangxi) Transmission Co., Ltd [i] |  |  | 66.7 | % |  | $ | 540 |  |  | $ | 1,107 |
Getrag Ford Transmission GmbH |  |  | 50.0 | % |  | $ | 100 |  |  | $ | 268 |
Dongfeng Getrag Transmission Co. Ltd [“DGT”] [ii] |  |  | 50.0 | % |  | $ | 47 |  |  | $ | 72 |
Hubei HAPM MAGNA Seating Systems Co., Ltd. |  |  | 49.9 | % |  | $ | 113 |  |  | $ | 117 |
[i] | The Company accounts for its investments under the equity method of accounting as a result of significant participating rights that prevent control.
[ii] | DGT is a variable interest entity [“VIE”] and depends on the Company and the Dongfeng Motor Group Company for any additional cash needs. The Company cannot make key operating decisions considered to be most significant to the VIE, and is therefore not considered to be the primary beneficiary. The Company’s known maximum exposure to loss approximated the carrying value of our investment balance as at December 31, 2019.
A summary of the total financial results, as reported by the Company’s equity method investees, in the aggregate, at December 31 was as follows: Summarized Balance Sheets
|  | 2019 |  |  | 2018 |
Current assets |  | $ | 1,680 |  |  | $ | 1,914 |
Non-current assets |  | $ | 3,573 |  |  | $ | 3,870 |
Current liabilities |  | $ | 1,266 |  |  | $ | 1,500 |
Long-term liabilities |  | $ | 994 |  |  | $ | 1,131 |
Summarized Income Statements
|  | 2019 |  |  | 2018 |
Sales |  | $ | 4,142 |  |  | $ | 5,133 |
Cost of goods sold & expenses |  |  | 3,949 |  |  |  | 4,765 |
Net income |  | $ | 193 |  |  | $ | 368 |
Sales to equity method investees were approximately $113 million and $379 million for the years ended December 31, 2019 and 2018, respectively.

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