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Investments
9 Months Ended
Sep. 30, 2015
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 $6,872 and $6,653 at September 30, 2015 and December 31, 2014, respectively. Equity in earnings of Minda included in the condensed consolidated statements of operations was $160 and $205, for the three months ended September 30, 2015 and 2014, respectively.     Equity in earnings of Minda included in the condensed consolidated statements of operations was $492 and $587 for the nine months ended September 30, 2015 and 2014, respectively.

 

PST Eletrônica Ltda.

 

The Company has a 74% controlling interest in PST. Noncontrolling interest in PST decreased to $14,273 at September 30, 2015 due to comprehensive loss of $8,277 resulting from a proportionate share of its net loss of $1,074 for the nine months ended September 30, 2015 and an unfavorable change in foreign currency translation of $7,203. Noncontrolling interest in PST decreased to $31,383 at September 30, 2014 due to comprehensive loss of $8,157 resulting from 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. Comprehensive loss related to PST noncontrolling interest was $4,080 and $2,294 for the three months ended September 30, 2015 and 2014, respectively.