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Investments
6 Months Ended
Jun. 30, 2014
Investments [Abstract]  
Investments

 

(15) 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 $6,529 and $5,981 at June 30, 2014 and December 31, 2013, respectively. Equity in earnings of Minda included in the condensed consolidated statements of operations was $144 and $96, for the three months ended June 30, 2014 and 2013, respectively. Equity in earnings of Minda included in the condensed consolidated statements of operations was $382 and $297, for the six months ended June 30, 2014 and 2013, respectively.

PST Eletrônica Ltda.

 

The Company has a 74% controlling interest in PST. Noncontrolling interest in PST decreased by $5,862 to $33,678 at June 30, 2014 due to a of proportionate share of its net loss of $8,199 including goodwill impairment for the six months ended June 30, 2014, which was partially offset by a favorable change in foreign currency translation of $2,337. Noncontrolling interest in PST decreased by $2,867 to $41,209 at June 30, 2013 due to an unfavorable change in foreign currency translation of $3,455 and a dividend of $211, partially offset by a proportionate share of its net income of $799 for the six months ended June 30, 2013. Comprehensive loss related to the PST noncontrolling interest was $6,230 and $3,468 for the three months ended June 30, 2014 and 2013, respectively. Comprehensive loss related to the PST noncontrolling interest was $5,863 and $2,656 for the six months ended June 30, 2014 and 2013, respectively.