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Investments
12 Months Ended
Dec. 31, 2015
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 $6,929 and $6,653 as of December 31, 2015 and 2014, respectively. Equity in earnings of Minda included in the consolidated statements of operations was $608,  $815 and $476 for the years ended December 31, 2015, 2014 and 2013, respectively. 

 

PST Eletrônica Ltda.

 

The Company has a 74% controlling interest in PST for the years ended December 31, 2015, 2014 and 2013. Noncontrolling interest in PST decreased by $9,240 to $13,310 at December 31, 2015 due to a proportionate share of its net loss of $2,207 for the year ended December 31, 2015 and an unfavorable change in foreign currency translation of $7,033. 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 $4,541 for the year ended 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.

 

Comprehensive loss related to PST noncontrolling interest was $9,240,  $16,990 and $4,329 for the years ended December 31, 2015, 2014 and 2013, respectively.

 

PST has dividends payable declared in previous years to noncontrolling interest of $10,842 Brazilian real ($2,777) and $10,842 Brazilian real ($4,082) at December 31, 2015 and 2014, respectively.