General Motors 2014 Annual Report Download - page 88

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GENERAL MOTORS COMPANY AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)
At December 31, 2014 and 2013 the carrying amount of our investments in certain joint ventures exceeded our share of the
underlying net assets by $3.9 billion and $3.8 billion primarily related to goodwill from the application of fresh-start reporting and
purchase of additional interests in nonconsolidated affiliates.
The following tables present summarized financial data for nonconsolidated affiliates (dollars in millions):
December 31, 2014 December 31, 2013
China JVs Others Total China JVs Others Total
Summarized Balance Sheet Data
Current assets ................................... $ 15,442 $ 2,636 $ 18,078 $ 14,666 $ 2,234 $ 16,900
Non-current assets ................................ 9,758 1,507 11,265 8,187 1,458 9,645
Total assets ..................................... $ 25,200 $ 4,143 $ 29,343 $ 22,853 $ 3,692 $ 26,545
Current liabilities ................................ $ 16,141 $ 2,179 $ 18,320 $ 14,019 $ 1,859 $ 15,878
Non-current liabilities ............................. 931 495 1,426 1,065 511 1,576
Total liabilities .................................. $ 17,072 $ 2,674 $ 19,746 $ 15,084 $ 2,370 $ 17,454
Non-controlling interests .......................... $ 1,043 $ 3 $ 1,046 $ 1,040 $ — $ 1,040
Years Ended December 31,
2014 2013 2012
Summarized Operating Data
China JVs’ net sales ............................................................ $ 43,853 $ 38,767 $ 33,364
Others’ net sales ............................................................... 3,171 1,830 3,963
Total net sales ................................................................ $ 47,024 $ 40,597 $ 37,327
China JVs’ net income .......................................................... $ 4,312 $ 3,685 $ 3,198
Others’ net income (loss) ........................................................ 91 50 (23)
Total net income .............................................................. $ 4,403 $ 3,735 $ 3,175
Transactions with Nonconsolidated Affiliates
Nonconsolidated affiliates are involved in various aspects of the development, production and marketing of cars, trucks and
automobile parts. We purchase component parts and vehicles from certain nonconsolidated affiliates for resale to dealers. We also sell
component parts and vehicles to certain nonconsolidated affiliates. The following tables summarize transactions with nonconsolidated
affiliates (dollars in millions):
Years Ended December 31,
2014 2013 2012
Automotive sales and revenue .................................................... $ 2,762 $ 2,724 $ 2,572
Automotive purchases, net ....................................................... $ 311 $ 724 $ 497
Interest income and other non-operating income, net .................................. $ 23 $ 19 $ 184
Operating cash flows ........................................................... $ 4,321 $ 3,607 $ 3,385
December 31, 2014 December 31, 2013
Accounts and notes receivable, net .................................................. $ 706 $ 756
Accounts payable ............................................................... $ 205 $ 183
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