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,	2014	2013	2012
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
Beijing Lear Dymos Automotive Systems Co., Ltd. (China)	40	40	40
Dymos Lear Automotive India Private Limited (India)	35	35	35
eLumigen, LLC	30	15	—
RevoLaze, LLC	20	20	—
HB Polymer Company, LLC	10	10	—
Tacle Seating USA, LLC	—	49	49
International Automotive Components Group North America, LLC	—	—	23

Summarized group financial information for affiliates accounted for under the equity method as of December 31, 2014 and 2013, and for the years ended December 31, 2014, 2013 and 2012, is shown below (unaudited; in millions):



December 31,	2014		2013
Balance sheet data:
Current assets	$	794.3	$	767.1
Non-current assets	183.4		143.5
Current liabilities	627.6		548.9
Non-current liabilities	5.6		5.8



For the year ended December 31,	2014		2013		2012
Income statement data:
Net sales	$	1,802.7	$	1,686.5	$	6,240.5
Gross profit	129.3		121.9		452.6
Income (loss) before provision for income taxes	117.8		110.1		(109.0		)
Net income (loss) attributable to affiliates	92.9		89.0		(76.1		)

As of December 31, 2014 and 2013, the Company’s aggregate investment in affiliates was $171.5 million and $172.0 million, respectively. In addition, the Company had receivables due from affiliates, including notes and advances, of $75.5 million and $74.2 million and payables due to affiliates of $5.7 million and $8.8 million as of December 31, 2014 and 2013, respectively.

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



For the year ended December 31,	2014		2013		2012
Sales to affiliates	$	214.7	$	145.1	$	93.1
Purchases from affiliates	32.1		41.5		141.9
Management and other fees for services provided to affiliates	24.5		22.3		23.0
Dividends received from affiliates	25.0		17.6		14.4

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.

2014

In April 2014, the Company sold its 49% ownership interest in Tacle Seating USA, LLC. The Company did not recognize a significant gain or loss related to this transaction. Also in 2014, the Company acquired an additional ownership interest in eLumigen, LLC, thereby increasing its ownership interest to 30% from 15%.

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.