(5) Investments in Affiliates and Other Related Party Transactions

The Company’s beneficial ownership in affiliates accounted for under the equity method is shown below:


December 31,	2013			2012			2011
Shanghai Lear STEC Automotive Parts Co., Ltd. (China)		55	%		55	%		55	%
Beijing BAI Lear Automotive Systems Co., Ltd. (China)		50			50			50
Beijing Lear Automotive Electronics and Electrical Products Co., Ltd. (China)		50			50			50
Dong Kwang Lear Yuhan Hoesa (Korea)		50			50			50
Industrias Cousin Freres, S.L. (Spain)		50			50			50
Jiangxi Jiangling Lear Interior Systems Co., Ltd. (China)		50			50			50
Lear Dongfeng Automotive Seating Co., Ltd. (China)		50			50			50
Changchun Lear FAWSN Automotive Electrical and Electronics Co., Ltd. (China)		49			49			49
Changchun Lear FAWSN Automotive Seat Systems Co., Ltd. (China)		49			49			49
Honduras Electrical Distribution Systems S. de R.L. de C.V. (Honduras)		49			49			49
Kyungshin-Lear Sales and Engineering LLC		49			49			49
Tacle Seating USA, LLC		49			49			49
Beijing Lear Dymos Automotive Systems Co., Ltd. (China)		40			40			40
Dymos Lear Automotive India Private Limited (India)		35			35			35
RevoLaze, LLC		20			—			—
eLumigen, LLC		15			—			—
HB Polymer Company, LLC		10			—			—
International Automotive Components Group North America, LLC		—			23			23

Summarized group financial information for affiliates accounted for under the equity method as of December 31, 2013 and 2012, and for the years ended December 31, 2013, 2012 and 2011, is shown below (unaudited; in millions):


December 31,	2013		2012
Balance sheet data:
Current assets	$	767.1	$	1,729.8
Non-current assets		143.5		875.3
Current liabilities		548.9		1,395.0
Non-current liabilities		5.8		703.9


For the year ended December 31,	2013		2012			2011
Income statement data:
Net sales	$	1,686.5	$	6,240.5		$	5,754.5
Gross profit		121.9		452.6			466.6
Income (loss) before provision for income taxes		110.1		(109.0	)		91.5
Net income (loss) attributable to affiliates		89.0		(76.1	)		56.7

As of December 31, 2013 and 2012, the Company’s aggregate investment in affiliates was $172.0 million and $177.8 million, respectively. In addition, the Company had receivables due from affiliates, including notes and advances, of $74.2 million and $45.4 million and payables due to affiliates of $8.8 million and $22.7 million as of December 31, 2013 and 2012, respectively.

A summary of transactions with affiliates and other related parties is shown below (in millions):


For the year ended December 31,	2013		2012		2011
Sales to affiliates	$	145.1	$	93.1	$	96.2
Purchases from affiliates		41.5		141.9		134.0
Management and other fees for services provided to affiliates		22.3		23.0		13.8
Dividends received from affiliates		17.6		14.4		43.6

The Company’s investment in Shanghai Lear STEC Automotive Parts Co., Ltd. is accounted for under the equity method as the result of certain approval rights granted to the minority shareholders, including approval of the annual budget, business plan and the appointment or dismissal of management. The Company’s investments in eLumigen, LLC and HB Polymer Company, LLC are accounted for under the equity method as the Company’s interests in these entities are similar to partnership interests.

2013

In March 2013, the Company completed the sale of its 22.88% ownership interest in International Automotive Components Group North America, LLC for net proceeds of $49.6 million. The Company did not recognize a significant gain or loss related to this transaction. Also in 2013, the Company established investments in RevoLaze, LLC, eLumigen, LLC and HB Polymer Company, LLC.

2011

In March 2011, the Company acquired an additional 44% of TS Lear Automotive Sdn Bhd., an affiliate previously accounted for under the equity method, thereby increasing its ownership interest to 90%. The acquisition was accounted for as a purchase, and the assets purchased and liabilities assumed are reflected in the consolidated balance sheet as of December 31, 2011. Also in 2011, the Company established Changchun Lear FAWSN Automotive Seat Systems Co., Ltd., a joint venture with Changchun FAW Sihuan Group Corporation and Jilin Shouxin Industry Group Stock Company Limited, to manufacture and supply automotive seat assembly systems in China.