8. Summarized Financial Information of Equity Affiliates
The table below presents summarized financial information on a combined 100% basis of the companies accounted for by the equity method. Amounts presented include the accounts of the following equity affiliates:
| Abdullah Hashim Industrial Gases & Equipment Co., Ltd. (25%); | INOX Air Products Limited (50%); | |
| Air Products South Africa (Proprietary) Limited (50%); | Kulim Industrial Gases Sdn. Bhd. (50%); | |
| Bangkok Cogeneration Company Limited (49%); | Sapio Produzione Idrogeno Ossigeno S.r.l. (49%); | |
| Bangkok Industrial Gases Co., Ltd. (49%); | SembCorp Air Products (HyCo) Pte. Ltd. (40%); | |
| Chengdu Air & Gas Products Ltd. (50%); | Tecnologia en Nitrogeno S. de R.L. de C.V. (50%); | |
| Daido Air Products Electronics, Inc. (20%); | Tyczka Industrie-Gases GmbH (50%); | |
| Helap S.A. (50%); | WuXi Hi-Tech Gas Co., Ltd. (50%); | |
| High-Tech Gases (Beijing) Co., Ltd. (50%); | and principally, other industrial gas producers. | |
| INFRA Group (40%); |
On 29 May 2012, we purchased 25% of the outstanding shares of Abdullah Hashim Industrial Gases & Equipment Co. Ltd. (AHG) for SAR581.3 million ($155). AHG is a company of the privately-owned Abdullah Hashim Group, based in the Kingdom of Saudi Arabia. AHG is the largest private industrial gases company in Saudi Arabia. It comprises three businesses, including industrial gases, equipment and consumables and refrigerants. The transaction was recorded as an investment in net assets of and advances to equity affiliates in the Merchant Gases segment.
In the third quarter of 2012, we obtained control of DA NanoMaterials and began consolidating its results. Refer to Note 5, Business Combinations, for additional information. The unaudited amounts presented below include the results of DA NanoMaterials for 2011.
| 30 September | 2013 | 2012 | ||||||
| Current assets | $ | 1,307.9 | $ | 1,232.9 | ||||
| Noncurrent assets | 2,396.1 | 2,225.3 | ||||||
| Current liabilities | 795.2 | 726.6 | ||||||
| Noncurrent liabilities | 648.6 | 523.9 | ||||||
| Year Ended 30 September | 2013 | 2012 | 2011 | |||||
| Net sales | $ | 2,845.9 | $ | 2,675.3 | $ | 2,650.5 | ||
| Sales less cost of sales | 1,003.3 | 937.0 | 987.2 | |||||
| Operating income | 547.3 | 529.7 | 537.0 | |||||
| Net income | 360.5 | 347.6 | 351.3 |
Dividends received from equity affiliates were $108.6, $89.0, and $105.9 in 2013, 2012, and 2011, respectively.
The investment in net assets of and advances to equity affiliates as of 30 September 2013 and 2012 included investment in foreign affiliates of $1,191.3 and $1,171.0, respectively.
As of 30 September 2013 and 2012, the amount of investment in companies accounted for by the equity method included goodwill in the amount of $126.4.