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Investments
 6 Months Ended
Jun. 30, 2012
Equity Method Investments and Joint Ventures [Abstract]  
Equity Method Investments and Joint Ventures Disclosure [Text Block]

(13)   Investments

 

PST Eletrônica Ltda.

 

The Company has a 74% controlling interest in PST, a Brazilian electronic system provider focused on security convenience and infotainment devices and services primarily for the South American vehicle and motorcycle industries, and since the acquisition of the controlling interest on December 31, 2011 has been a consolidated subsidiary of the Company as of and for the three and six months ended June 30, 2012.

 

Prior to the acquisition of the controlling interest on December 31, 2011, PST was an unconsolidated joint venture accounted for under the equity method of accounting. As of December 31, 2011, PST became a consolidated subsidiary of the Company, see Note 3.

  

Condensed financial information of PST is as follows:

 

    Three months ended     Six months ended  
    June 30,     June 30,  
    2011     2011  
             
Net sales   $ 62,696     $ 115,934  
Cost of goods sold   $ 36,743     $ 65,352  
                 
Total income before income taxes   $ 3,968     $ 7,900  
The Company's share of income before income taxes   $ 1,984     $ 3,950  

 

Equity in earnings of PST included in the Company’s condensed consolidated statements of operations was $1,595 and $3,104 for the three and six months ended June 30, 2011, respectively.

 

Minda Stoneridge Instruments Ltd.

 

The Minda Stoneridge Instruments Ltd. (“Minda”) joint venture at June 30, 2012 is an unconsolidated joint venture and is accounted for under the equity method of accounting. The Company has a 49% interest in Minda, a company based in India that manufactures electronics, instrumentation equipment and sensors primarily for the motorcycle and commercial vehicle markets. The Company’s investment in Minda recorded as a component of investments and other long-term assets, net on the condensed consolidated balance sheets, was $6,303 and $6,391 at June 30, 2012 and December 31, 2011, respectively. Equity in earnings of Minda included in the condensed consolidated statements of operations was $97 and $213, for the three months ended June 30, 2012 and 2011, respectively. For the six months ended June 30, 2012 and 2011, equity in earnings of Minda was $236 and $620, respectively.