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Investments in Affiliates
 12 Months Ended
Dec. 31, 2014
Investments in Affiliates [Abstract]  
Investments in Affiliates
Investments in Affiliates

Investments in affiliates as of December 31, 2014 and 2013 were as follows (in millions):
 
2014
 
2013
Finance joint ventures
$
389.0

 
$
390.2

Manufacturing joint ventures
19.6

 
16.1

Other affiliates
15.5

 
9.8

 
$
424.1

 
$
416.1



The Company’s manufacturing joint ventures as of December 31, 2014 consisted of GIMA and joint ventures with third-party manufacturers to assemble tractors in Algeria and engines in South America. The other joint ventures represent investments in farm equipment manufacturers, an electronic and software system manufacturer, distributors and licensees.

The Company’s equity in net earnings of affiliates for the years ended December 31, 2014, 2013 and 2012 were as follows (in millions):
 
2014
 
2013
 
2012
Finance joint ventures
$
48.8

 
$
48.8

 
$
48.6

Manufacturing and other joint ventures
4.1

 
(0.6
)
 
4.9

 
$
52.9

 
$
48.2

 
$
53.5



Summarized combined financial information of the Company’s finance joint ventures as of December 31, 2014 and 2013 and for the years ended December 31, 2014, 2013 and 2012 were as follows (in millions):
 
December 31,
 
2014
 
2013
Total assets
$
8,836.4

 
$
9,442.7

Total liabilities
8,042.9

 
8,646.3

Partners’ equity
793.5

 
796.4


 
For the Years Ended December 31,
 
2014
 
2013
 
2012
Revenues
$
383.4

 
$
389.2

 
$
377.8

Costs
234.7

 
239.4

 
226.5

Income before income taxes
$
148.7

 
$
149.8

 
$
151.3



The majority of the assets of the Company’s finance joint ventures represent finance receivables. The majority of the liabilities represent notes payable and accrued interest. Under the various joint venture agreements, Rabobank or its affiliates provide financing to the joint venture companies (Note 14).

At December 31, 2014 and 2013, the Company’s receivables from affiliates were approximately $108.4 million and $124.3 million, respectively. The receivables from affiliates are reflected within Accounts and notes receivable, net within the Company’s Consolidated Balance Sheets.

The portion of the Company’s retained earnings balance that represents undistributed retained earnings of equity method investees was approximately $293.3 million and $276.3 million as of December 31, 2014 and 2013, respectively.