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Investments
9 Months Ended
Sep. 30, 2014
Investments [Abstract]  
Investments

 

(14) 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 $6,564 and $5,981 at September 30, 2014 and December 31, 2013, respectively. Equity in earnings of Minda included in the condensed consolidated statements of operations was $205 and $99, for the three months ended September 30, 2014 and 2013, respectively. Equity in earnings of Minda included in the condensed consolidated statements of operations was $587 and $396, for the nine months ended September 30, 2014 and 2013, respectively.

 

PST Eletrônica Ltda.

 

The Company has a 74% controlling interest in PST. Noncontrolling interest in PST decreased by $8,157 to $31,383 at September 30, 2014 due to a proportionate share of its net loss of $7,039 including goodwill impairment for the nine months ended September 30, 2014 and an unfavorable change in foreign currency translation of $1,118. Noncontrolling interest in PST decreased by $2,623 to $41,243 at September 30, 2013 due to an unfavorable 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 loss related to the PST noncontrolling interest was $2,294 for the three months ended September 30, 2014 and comprehensive income was $214 or the three months ended September 30, 2013. Comprehensive loss related to the PST noncontrolling interest was $8,157 and $2,442 for the nine months ended September 30, 2014 and 2013, respectively.