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Investment in Non-Consolidated Joint Venture
 3 Months Ended
Mar. 31, 2015
Equity Method Investments and Joint Ventures [Abstract]  
Investment in Non-Consolidated Joint Venture

Note 12.     Investment in Non-Consolidated Joint Venture

As part of the acquisition of Autocam, we acquired a 49% investment in a joint venture with an unrelated entity called Wuxi Weifu Autocam Precision Machinery Company, Ltd. (“JV”), a Chinese company located in Wuxi, China.

Below are the components of our JV investment balance at March 31, 2015:

 

January 1, 2015

 $ 34,703   

Capital contributed to the joint venture

   1,372   

Our share of cumulative earnings

   820   
  

 

 

  

March 31, 2015

 $ 36,895   
  

 

 

  

Set forth below is summarized balance sheet information for the JV:

 

     March 31,
2015		      December
31, 2014		  

Current assets

    $ 26,024       $ 24,140   

Non-current assets

    $ 22,700         21,519   
  

 

 

     

 

 

  

Total assets

 $ 48,724    $ 45,659   
  

 

 

     

 

 

  

Current liabilities

 $ 11,776    $ 14,162   
  

 

 

     

 

 

  

Total liabilities

 $ 11,776    $ 14,162   
  

 

 

     

 

 

  

No dividends were declared by the JV during the three months ended March 31, 2015. We had sales to the JV of $20 during the three months ended March 31, 2015. Amounts due to us from the JV were $178 as of March 31, 2015. The JV had net sales in 2014 of $50,466 and net income of $9,004. The JV in the first quarter of 2015 had net sales and net income of $14,195 and $1,523, respectively.