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Investments
3 Months Ended
Mar. 31, 2014
Investments [Abstract]  
Investments

(12) Investments

 

Minda Stoneridge Instruments Ltd.

 

The Company has a 49% interest in Minda Stoneridge Instruments Ltd. (“Minda”), a company based in India that manufactures electronics, instrumentation equipment and sensors primarily for the motorcycle and commercial vehicle market. The investment is accounted for under the equity method of accounting. 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 $6,417 and $5,981 at March 31, 2014 and December 31, 2013, respectively. Equity in earnings of Minda included in the condensed consolidated statements of operations was $238 and $201, for the three months ended March 31, 2014 and 2013, respectively. 

 

PST Eletrônica Ltda.

 

The Company has a 74% controlling interest in PST. Noncontrolling interest in PST increased by $367 to $39,907 at March 31, 2014 due to a favorable change in foreign currency translation of $1,345, which was partially offset by a proportionate share of its net loss of $978 for the three months ended March 31, 2014. Noncontrolling interest in PST increased by $601 to $44,677 at March 31, 2013 due to a favorable change in foreign currency translation of $647 and a proportionate share of its net income of $165 for the three months ended March 31, 2013, which were partially offset by a dividend of $211. Comprehensive income related to the PST noncontrolling interest was $367 and $812 for the three months ended March 31, 2014 and 2013, respectively.