XML 60 R19.htm IDEA: XBRL DOCUMENT v2.4.0.8
Investments
9 Months Ended
Sep. 30, 2013
Investments [Astract]  
Investments

(13) Investments

 

Minda Stoneridge Instruments Ltd.

 

The Minda Stoneridge Instruments Ltd. ("Minda") joint venture at September 30, 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 $5,817 and $6,215 at September 30, 2013 and December 31, 2012, respectively. Equity in earnings of Minda included in the condensed consolidated statements of operations was $99 and $207, for the three months ended September 30, 2013 and 2012, respectively. For the nine months ended September 30, 2013 and 2012, equity in earnings of Minda was $396 and $443, respectively.

 

PST Eletrônica Ltda.

 

The Company had a 74% controlling interest in PST for the three and nine months ended September 30, 2013 and 2012. Noncontrolling interest in PST decreased by $2,653 to $41,243 at September 30, 2013 due to a change in foreign currency translation of $3,706 and a dividend of $211  partially offset by a proportionate share of its net income of $1,264 for the nine months ended September 30, 2013. Comprehensive income related to the PST noncontrolling interest was $214 and $85 for the three months ended September 30, 2013 and 2012, respectively. Comprehensive loss related to the PST noncontrolling interest was $2,442 and $4,893 for the nine months ended September 30, 2013 and 2012, respectively.