Investments in Affiliates

12 Months Ended

Dec. 31, 2020

Equity Method Investments And Joint Ventures [Abstract]

Note 16. Investments in Affiliates

The Company holds investments in companies where it, directly or indirectly, owns 20% to 50% of the voting stock, or has the ability to exercise significant influence over the operating and financial policies of the investee.

The following table sets forth the jurisdiction, carrying value, and ownership percentages of the Company’s investments in affiliates at December 31, 2020 and 2019.

		December 31, 2020			December 31, 2019
Investee	Jurisdiction	Carrying Value		Ownership	Carrying Value		Ownership
Chemours-Mitsui Fluorochemicals Company, Ltd.	Japan	$	104	50.0%	$	96	50.0%
The Chemours Chenguang Fluoromaterials Company Limited	China		32	50.0%		33	50.0%
Changshu 3F Zhonghao New Chemical Materials Co., Ltd.	China		31	10.0%		33	10.0%
		$	167		$	162

The following table sets forth the changes in the Company’s investments in affiliates for the years ended December 31, 2020, 2019, and 2018.

	Year Ended December 31,
	2020			2019			2018
Balance at January 1,	$	162		$	160		$	173
Equity in earnings of affiliates		23			29			43
Dividends		(25	)		(28	)		(58	)
Currency translation and other		7			1			2
Balance at December 31,	$	167		$	162		$	160

The Company engages in transactions with its equity method investees in the ordinary course of business. For the years ended December 31, 2020, 2019, and 2018, net sales to the Company’s equity method investees amounted to $98, $135, and $143, respectively, and purchases from the Company’s equity method investees amounted to $133, $249, and $125, respectively.