Equity Method Investments

12 Months Ended

Dec. 31, 2015

Equity Method Investments And Joint Ventures [Abstract]

6. Equity Method Investments

As of December 31, 2015, our equity method investments consist of 28.6% interest in Mars, 49.0% interest in Bengal and 36.0% interest in Poseidon.

Equity investments in affiliates comprise the following as of the dates indicated:

	December 31,
	2015		2014
Mars	$	84.0	$	85.7
Bengal		75.6		75.0
Poseidon⁽¹⁾		25.4		—
	$	185.0	$	160.7

⁽¹⁾ We acquired an equity interest in Poseidon on July 1, 2015. For additional information regarding this transaction, see Note 3 - Acquisitions.

Our equity investments in affiliates balance was affected by the following during the periods indicated:

	2015
	Mars		Bengal			Poseidon		Total
Distributions received	$	34.9	$	20.2		$	21.2	$	76.3
Income from equity investments		33.2		20.8			16.1		70.1
Return of investment ⁽¹⁾		1.7		—			5.1		6.8
Income in excess of distributions ⁽²⁾		—		(0.6	)		—		(0.6	)

	2014
	Mars		Bengal			Total
Distributions received	$	5.5	$	2.8		$	8.3
Income from equity investments		3.4		3.3			6.7
Return of investment ⁽¹⁾		2.1		—			2.1
Income in excess of distributions ⁽²⁾		—		(0.5	)		(0.5	)

⁽¹⁾ Distributions received in excess of our income from equity investments is shown as a return of investment in our consolidated statements of cash flows.

⁽²⁾ Income from equity investments in excess of distributions is shown as a reduction to cash flows from operating activities in our consolidated statements of cash flows.

Summarized Financial Information

The following presents aggregated selected balance sheet and income statement data for our equity method investments (on a 100.0% basis):

	December 31, 2015				July 1, 2015 - December 31, 2015
	Mars		Bengal		Poseidon
Statements of Income
Total revenues⁽¹⁾	$	205.9	$	70.3	$	—
Total operating expenses⁽¹⁾		85.7		28.1		—
Operating income⁽¹⁾		120.3		42.2		—
Net income		120.3		42.1		45.9
Balance Sheets
Current assets	$	40.9	$	29.0	$	18.5
Non-current assets		208.2		146.3		249.2
Total assets	$	249.1	$	175.3	$	267.7
Current liabilities		6.4		11.2		22.5
Non-current liabilities		—		0.9		203.5
Equity		242.7		163.2		41.7
Total liabilities and equity	$	249.1	$	175.3	$	267.7

⁽¹⁾ Interest in Poseidon was acquired by the Partnership on July 1, 2015. For 2015, Poseidon total revenue, total operating expenses and operating income (on a 100% basis) was $123.7 million, $28.6 million, and $95.1 million, respectively.

	November 3, 2014 - December 31, 2014
	Mars		Bengal
Statements of Income
Total revenues ⁽¹⁾	$	—	$	—
Total operating expenses ⁽¹⁾		—		—
Operating income ⁽¹⁾		—		—
Net income		11.9		6.6
Balance Sheets
Current assets	$	38.3	$	35.9
Non-current assets		212.1		146.7
Total assets	$	250.4	$	182.6
Current liabilities		6.1		19.0
Non-current liabilities		—		1.2
Equity		244.3		162.4
Total liabilities and equity	$	250.4	$	182.6

⁽¹⁾ Interests in Mars and Bengal were acquired by the Partnership on November 3, 2014. For 2014, Mars total revenue, total operating expenses and operating income (on a 100% basis) was $160.5 million, $73.0 million, and $87.4 million, respectively, and Bengal total revenue, total operating expenses and operating income (on a 100% basis) was $65.9 million, $27.2 million, and $38.7 million, respectively.