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Investments
6 Months Ended
Jun. 30, 2016
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 $7,085 and $6,929 at June 30, 2016 and December 31, 2015, respectively. Equity in earnings of Minda included in the condensed consolidated statements of operations was $153 and $143, for the three months ended June 30, 2016 and 2015, respectively.     Equity in earnings of Minda included in the condensed consolidated statements of operations was $296 and $332, for the six months ended June 30, 2016 and 2015, respectively.

 





PST Eletrônica Ltda.

 

The Company has a 74% controlling interest in PST. Noncontrolling interest in PST increased to $14,171 at June 30, 2016 due to comprehensive income of $861 resulting from a favorable change in foreign currency translation of $2,567 partially offset by a proportionate share of its net loss of $1,706 for the six months ended June 30, 2016. Noncontrolling interest in PST decreased to $18,353 at June 30, 2015 due to comprehensive loss of $4,197 resulting from a proportionate share of its net loss of $1,005 and an unfavorable change in foreign currency translation of $3,192 for the six months ended June 30, 2015. Comprehensive income related to PST noncontrolling interest was $801 and $32 for the three months ended June 30, 2016 and 2015, respectively.



PST has dividends payable declared in previous years to noncontrolling interest of $10,842 Brazilian real ($3,378) at June 30, 2016.