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Investments
12 Months Ended
Dec. 31, 2014
Investments [Abstract]  
Investments

3. Investments

 

Minda Stoneridge Instruments Ltd.

 

The Company has a 49% interest in Minda, a company based in India that manufactures electronics, instrumentation equipment and sensors for the motorcycle and commercial vehicle markets.  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 consolidated balance sheets, was $6,653 and $5,981 as of December 31, 2014 and 2013, respectively. Equity in earnings of Minda included in the consolidated statements of operations was $815,  $476 and $760 for the years ended December 31, 2014, 2013 and 2012, respectively. 

 

PST Eletrônica Ltda.

 

The Company has a 74% controlling interest in PST for the years ended December 31, 2014, 2013 and 2012. Noncontrolling interest in PST decreased by $16,990 to $22,550 at December 31, 2014 due to a proportionate share of its net loss of $13,483 including goodwill impairment for the year ended December 31, 2014 and an unfavorable change in foreign currency translation of $3,507. Noncontrolling interest in PST decreased by $4,537 to $39,540 at December 31, 2013 due to an unfavorable change in foreign currency translation of $5,706 and a dividend of $212 partially offset by a proportionate share of its net income of $1,377 for the year ended December 31, 2013.  Noncontrolling interest in PST decreased $4,651 for the year ended December 31, 2012 due to an unfavorable change in foreign currency translation of $3,918 and a proportionate share of its net loss of $733.

 

Comprehensive loss related to PST noncontrolling interest was $16,990,  $4,325 and $4,651 for the years ended December 31, 2014, 2013 and 2012, respectively.

 

PST has declared dividends payable to noncontrolling interest and a former shareholder of $10,842 Brazilian real ($4,082) and $13,246 Brazilian real ($5,654) at December 31, 2014 and 2013, respectively.