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Investment and Joint Venture
3 Months Ended
Mar. 31, 2013
Equity Method Investments and Joint Ventures [Abstract]  
Equity Method Investments and Joint Ventures Disclosure [Text Block]

(13) Investment and Joint Venture

 

Minda Stoneridge Instruments Ltd.

 

The Minda Stoneridge Instruments Ltd. (“Minda”) joint venture at March 31, 2013 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 market. 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 $6,497 and $6,215 at March 31, 2013 and December 31, 2012, respectively. Equity in earnings of Minda included in the condensed consolidated statements of operations was $201 and $139, for the three months ended March 31, 2013 and 2012, respectively.

 

PST Eletrônica Ltda.

 

The Company has a 74% controlling interest in PST. Noncontrolling interest in PST increased by $601 to $44,677 at March 31, 2013 due to a change in foreign currency translation of $647 and a proportionate share of its net income of $165, which were partially offset by a dividend of $211. Comprehensive income related to the PST noncontrolling interest was $812 and $1,475 for the three months ended March 31, 2013 and 2012, respectively.