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Equity Method Investments
12 Months Ended
Dec. 31, 2018
Equity Method Investments and Joint Ventures [Abstract]  
Equity Method Investments Equity Method Investments
For each of the following investments, we have the ability to exercise significant influence over these investments based on certain governance provisions and our participation in the significant activities and decisions that impact the management and economic performance of the investments.
Equity method investments comprise the following as of the dates indicated:  
December 31, 
2018 2017 
Ownership Amount Ownership Amount 
Amberjack – Series A / Series B (1)
75.0% / 50.0% $457.5 —%  $— 
Mars 71.5%  168.9 71.5%  187.4 
Bengal 50.0%  81.5 50.0%  79.7 
Permian Basin 50.0%  72.2 50.0%  49.4 
LOCAP 41.48%  8.2 41.48%  6.9 
Poseidon  36.0%  — 36.0%  2.3 
Proteus 10.0%  16.3 10.0%  17.4 
Endymion 10.0%  18.3 10.0%  19.5 
$822.9 $362.6 
(1) We acquired an interest in Amberjack in the May 2018 Acquisition. The acquisition of this interest has been accounted for prospectively.

Unamortized differences in the basis of the initial investments and our interest in the separate net assets within the financial statements of the investees are amortized into net income over the remaining useful lives of the underlying assets. As of December 31, 2018, 2017 and 2016, the unamortized basis differences included in our equity investments are $40.4 million, $41.4 million and $42.7 million, respectively. For the years ended 2018, 2017 and 2016, the net amortization expense was $3.7 million, $3.8 million and $2.8 million, respectively, which is included in Income from equity method investments.

During the first quarter of 2018, the investment amount for Poseidon was reduced to zero due to distributions received that were in excess of our investment balance and we, therefore, suspended the equity method of accounting. As we have no commitments to provide further financial support to Poseidon, we have recorded excess distributions of $24.4 million in Other income for the year ended December 31, 2018. Once our cumulative share of equity earnings becomes greater than the amount of distributions received, we will resume the equity method of accounting as long as the equity method investment balance remains greater than zero.

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

For the Year Ended December 31, 
2018 2017 2016 
 Distributions Received Income from Equity Method Investments  Impact of Change in Accounting PolicyDistributions Received Income from Equity Method Investments  Purchase Price Adjustment Distributions Received Income from Equity Method Investments  
Amberjack (1)
$104.4 $80.3 $— $— $— $— $— $— 
Mars (2)
119.3 107.7 (6.9)125.9 121.8 — 88.3 79.8 
Bengal 19.0 20.8 — 19.0 22.6 — 19.6 20.2 
Poseidon (3)
33.1 6.4 — 38.4 27.4 — 41.9 29.7 
Other (4)
25.9 19.7 — 15.0 14.8 0.3 8.2 8.4 
$301.7 $234.9 $(6.9)$198.3 $186.6 $0.3 $158.0 $138.1 
(1) We acquired an interest in Amberjack in the May 2018 Acquisition. The acquisition of this interest has been accounted for prospectively.  
(2) We acquired an additional 22.9% interest in Mars in the December 2017 Acquisition.
(3) As stated above, the equity method of accounting has been suspended for Poseidon and excess distributions are recorded in Other income.
(4) Included in Other is the activity associated with our investments in Permian Basin, LOCAP, Proteus and Endymion. We acquired a 41.48% interest in LOCAP in the December 2017 Acquisition. The acquisition of our ownership interests in Proteus and Endymion was effective in the December 2016 Acquisition, for which we were not entitled to a distribution and the related equity investment income was less than $0.1 million.

See Note 4 Acquisitions and Divestiture for additional information regarding the acquisitions of our equity investments. We acquired an additional 22.0% interest in Odyssey on December 1, 2017, which is now being consolidated in our financial statements on a retrospective basis.

The adoption date of the new revenue standard for the majority of our equity method investments will follow the non-public business entity adoption date of January 1, 2019 for their stand-alone financial statements, with the exception of Mars and Permian Basin which adopted on January 1, 2018. As a result of adoption, we recognized our proportionate share of the Mars cumulative effect transition adjustment as a decrease to opening equity in the amount of $6.9 million under the modified retrospective transition method, related to its transportation and dedication agreements which resulted in a deferral of revenue. The cumulative effect transition adjustment for Permian Basin was not material. 
Summarized Financial Information
The following presents aggregated selected balance sheet and income statement data for our equity method investments (on a 100% basis):
 
For the Year Ended December 31, 2018 
Total revenues Total operating expenses Operating income Net income 
Statements of Income 
Amberjack (1)
$204.0 $47.3 $156.7 $156.8 
Mars241.3 87.4 153.9 153.9 
Bengal69.2 28.1 41.1 41.1 
Poseidon115.5 34.6 80.9 73.0 
Other (2)
152.2 67.0 85.2 75.8 

As of December 31, 2018 
Current assets Non-current assets Total assets Current liabilities Non-current liabilities Equity (deficit) Total liabilities and equity (deficit) 
Balance Sheets 
Amberjack (1)
$45.8 $846.2 $892.0 $4.3 $4.2 $883.5 $892.0 
Mars53.1 178.2 231.3 5.4 18.4 207.5 231.3 
Bengal27.1 155.4 182.5 8.7 — 173.8 182.5 
Poseidon18.9 203.0 221.9 15.9 242.9 (36.9)221.9 
Other (2)
49.7 875.7 925.4 64.5 455.5 405.4 925.4 
(1) Our interest in Amberjack was acquired on May 11, 2018. Amberjack total revenues, total operating expenses and operating income (on a 100% basis) was $294.9 million, $73.5 million and $221.4 million, respectively.
(2) Included in Other is the activity associated with our investments in Permian Basin, LOCAP, Proteus and Endymion.

For the Year Ended December 31, 2017 
Total revenues Total operating expenses Operating income Net income 
Statements of Income 
Mars$255.5 $81.9 $173.6 $173.6 
Bengal72.8 28.1 44.7 44.8 
Poseidon117.1 32.6 84.5 78.5 
Other (1)
123.7 46.2 77.5 66.0 
As of December 31, 2017 
Current assets Non-current assets Total assets Current liabilities Non-current liabilities Equity (deficit) Total liabilities and equity (deficit) 
Balance Sheets 
Mars$47.6 $187.5 $235.1 $5.1 $— $230.0 $235.1 
Bengal25.0 156.6 181.6 10.5 0.3 170.8 181.6 
Poseidon18.7 218.6 237.3 17.6 237.4 (17.7)237.3 
Other (1)
91.6 625.3 716.9 98.9 244.7 373.3 716.9 
(1) Included in Other is the activity associated with our investments in Permian Basin, LOCAP, Proteus and Endymion. Interest in Permian Basin was acquired by us on October 17, 2017 and is pro-rated in above table. For the year ended December 31, 2017, Permian Basin total revenue, total operating expenses and operating income (on a 100% basis) was $8.3 million, $5.0 million and $3.3 million, respectively.


For the Year Ended December 31, 2016 
Total revenues Total operating expenses Operating income Net income 
Statements of Income 
Mars$229.8 $83.0 $146.8 $146.8 
Bengal69.5 28.7 40.8 40.2 
Poseidon120.3 30.7 89.6 84.9 
Other (1)
52.0 17.4 34.6 20.9 

As of December 31, 2016 
Current assets Non-current assets Total assets Current liabilities Non-current liabilities Equity Total liabilities and equity 
Balance Sheets 
Mars$40.0 $197.5 $237.5 $5.1 $— $232.4 $237.5 
Bengal34.0 147.5 181.5 16.8 0.7 164.0 181.5 
Poseidon17.1 233.6 250.7 20.7 219.7 10.3 250.7 
Other (1)
42.5 395.4 437.9 43.9 100.8 293.2 437.9 
(1) Interests in Proteus and Endymion were acquired by us on December 27, 2016, and is pro-rated in above table. For 2016, Proteus total revenue, total operating expenses and operating income (on a 100% basis) was $24.7 million, $11.7 million and $13.0 million, respectively. For 2016, Endymion total revenue, total operating expenses and operating income (on a 100% basis) was $28.1 million, $12.3 million and $15.8 million, respectively.
Capital Contributions
In accordance with the Member Interest Purchase Agreement entered into in conjunction with the acquisition of Permian Basin in October 2017, we will make capital contributions for our pro rata interest in Permian Basin to fund capital and other expenditures, as approved by supermajority (75%) vote of the members. We made capital contributions of $28.0 million in 2018.