(8) INVESTMENTS IN UNCONSOLIDATED AFFILIATES

At September 30, 2016 and December 31, 2015, our investments in unconsolidated affiliates include a 42.5% Class A ownership interest in Battleground Oil Specialty Terminal Company LLC (“BOSTCO”) and a 50% ownership interest in Frontera Brownsville LLC (“Frontera”). BOSTCO is a terminal facility located on the Houston Ship Channel that encompasses approximately 7.1 million barrels of distillate, residual and other black oil product storage. Class A and Class B ownership interests share in cash distributions on a 96.5% and 3.5% basis, respectively. Class B ownership interests do not have voting rights and are not required to make capital investments. Frontera is a terminal facility located in Brownsville, Texas that encompasses approximately 1.5 million barrels of light petroleum product storage, as well as related ancillary facilities.

The following table summarizes our investments in unconsolidated affiliates:


	Percentage of				Carrying value
	ownership				(in thousands)
	September 30,		December 31,		September 30,		December 31,
	2016		2015		2016		2015
BOSTCO	42.5	%	42.5	%	$	219,646	$	223,214
Frontera	50	%	50	%		23,556		23,486
Total investments in unconsolidated affiliates					$	243,202	$	246,700

At September 30, 2016 and December 31, 2015, our investment in BOSTCO includes approximately $7.3 million and $7.4 million, respectively, of excess investment related to a one time buy-in fee to acquire our 42.5% interest and capitalization of interest on our investment during the construction of BOSTCO. Excess investment is the amount by which our investment exceeds our proportionate share of the book value of the net assets of BOSTCO.

Earnings from investments in unconsolidated affiliates were as follows (in thousands):


	Three months ended				Nine months ended
	September 30,				September 30,
	2016		2015		2016		2015
BOSTCO	$	1,885	$	1,670	$	4,794	$	8,244
Frontera		1,075		521		2,146		1,520
Total earnings from investments in unconsolidated affiliates	$	2,960	$	2,191	$	6,940	$	9,764

Additional capital investments in unconsolidated affiliates were as follows (in thousands):


	Three months ended				Nine months ended
	September 30,				September 30,
	2016		2015		2016		2015
BOSTCO	$	—	$	4,226	$	2,125	$	4,226
Frontera		—		—		100		—
Additional capital investments in unconsolidated affiliates	$	—	$	4,226	$	2,225	$	4,226

Cash distributions received from unconsolidated affiliates were as follows (in thousands):


	Three months ended				Nine months ended
	September 30,				September 30,
	2016		2015		2016		2015
BOSTCO	$	3,546	$	6,555	$	10,487	$	13,363
Frontera		911		955		2,176		2,099
Cash distributions received from unconsolidated affiliates	$	4,457	$	7,510	$	12,663	$	15,462

The summarized financial information of our unconsolidated affiliates was as follows (in thousands):

Balance sheets:


	BOSTCO				Frontera
	September 30,		December 31,		September 30,		December 31,
	2016		2015		2016		2015
Current assets	$	21,634	$	21,079	$	6,089	$	4,156
Long-term assets		488,609		500,982		42,505		44,194
Current liabilities		(10,577)		(15,064)		(1,482)		(1,376)
Net assets	$	499,666	$	506,997	$	47,112	$	46,974

Statements of operations:


	BOSTCO				Frontera
	Three months ended				Three months ended
	September 30,				September 30,
	2016		2015		2016		2015
Revenue	$	17,033	$	15,273	$	5,232	$	4,227
Expenses		(12,178)		(11,081)		(3,082)		(3,185)
Net earnings	$	4,855	$	4,192	$	2,150	$	1,042


	BOSTCO				Frontera
	Nine months ended				Nine months ended
	September 30,				September 30,
	2016		2015		2016		2015
Revenue	$	49,907	$	54,127	$	13,608	$	12,118
Expenses		(36,668)		(33,705)		(9,316)		(9,078)
Net earnings	$	13,239	$	20,422	$	4,292	$	3,040