Investments in Foreign Joint Ventures (Tables)

3 Months Ended

Mar. 31, 2014

Summary of Financial Information of Foreign Joint Ventures

Summary financial information of our foreign joint ventures in U.S. dollars was as follows at March 31, 2014 (unaudited) and December 31, 2013 and the three months ended March 31, 2014 and 2013 (in thousands):

	BOMAY				MIEFE				AAG
	2014		2013		2014		2013		2014		2013
Assets:
Total current assets	$	96,995	$	107,257	$	4,273	$	4,287	$	1,558	$	3,695
Total non-current assets		5,006		5,059		115		115		518		823
Total assets	$	102,001	$	112,316	$	4,388	$	4,402	$	2,076	$	4,518
Liabilities and equity:
Total liabilities	$	74,196	$	85,858	$	1,690	$	1,800	$	989	$	2,163
Total joint ventures’ equity		27,805		26,458		2,698		2,602		1,087		2,355
Total liabilities and equity	$	102,001	$	112,316	$	4,388	$	4,402	$	2,076	$	4,518

	Three Months Ended March 31,
	BOMAY				MIEFE				AAG
	2014		2013		2014		2013		2014			2013

Revenue	$	19,604	$	33,509	$	824	$	2,667	$	782		$	3,485
Gross Profit	$	2,935	$	4,288	$	359	$	482	$	109		$	1,556
Earnings	$	1,371	$	2,502	$	94	$	48	$	(73	)	$	891

Summary of Activity in AEIT's Investment in Foreign Joint Ventures

The following is a summary of activity in investments in foreign joint ventures for the three months ended March 31, 2014, (unaudited):

	March 31, 2014
	BOMAY			MIEFE			AAG			TOTAL
	(in thousands)
Investments in foreign joint ventures:
Balance at December 31, 2013	$	10,609		$	1,138		$	1,286		$	13,033
Equity in earnings (loss) in 2014		548			(38	)		(36	)		474
Dividend distributions in 2014	—			—				(830	)		(830	)
Foreign currency translation adjustment		(31	)		8			171			148
Investments, end of period	$	11,126		$	1,108		$	591		$	12,825

Components of investments in foreign joint ventures:
Investment in joint ventures	$	2,033		$	15		$	54		$	2,102
Undistributed earnings		7,693			831			615			9,139
Foreign currency translation		1,400			262			(78	)		1,584
Investments, end of period	$	11,126		$	1,108		$	591		$	12,825