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Investment in Joint Venture
 9 Months Ended
Sep. 30, 2017
Equity Method Investments and Joint Ventures [Abstract]  
Investment in Joint Venture

Note 12. Investment in Joint Venture

We own a 49% investment in a joint venture located in Wuxi, China, with an unrelated entity called Wuxi Weifu Autocam Precision Machinery Company, Ltd. (the “JV”). The JV is jointly controlled and managed, and we account for it under the equity method.

The following table summarizes activity related to our investment in the JV for the nine months ended September 30, 2017.

 

Balance as of December 31, 2016

    $ 36,008  

Our share of cumulative earnings

      4,481  

Dividends declared and paid by joint venture

      (4,156 ) 

Accretion of basis difference from purchase accounting

      (342 ) 

Foreign currency translation gain

      1,748  
  

 

 

  

Balance as of September 30, 2017

    $ 37,739  
  

 

 

  

 

The following table summarizes balance sheet information of the JV itself.

 

     September 30,
2017		      December 31,
2016		  

Current assets

    $ 41,367      $ 31,295  

Non-current assets

      29,176        22,522  
  

 

 

     

 

 

  

Total assets

    $ 70,543      $ 53,817  
  

 

 

     

 

 

  

Current liabilities

    $ 26,746      $ 13,549  
  

 

 

     

 

 

  

Total liabilities

    $ 26,746      $ 13,549  
  

 

 

     

 

 

  

We recognized sales to the JV of less than $0.1 million and approximately $0.2 million during the three-month and nine-month periods ended September 30, 2017. Amounts due to us from the JV were less than $0.1 million as of September 30, 2017, and are included in accounts receivable.