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.


	June 30, 2020				December 31, 2019
	Ownership	Investment Amount		Ownership	Investment Amount
Mattox ⁽¹⁾	79.0%	$	171	—	$	—
Amberjack – Series A / Series B	75.0% / 50.0%	414		75.0% / 50.0%	426
Mars	71.5%	153		71.5%	161
Bengal	50.0%	88		50.0%	88
Permian Basin	50.0%	89		50.0%	91
LOCAP	41.48%	10		41.48%	9
Explorer	38.59%	84		38.59%	88
Poseidon	36.0%	—		36.0%	—
Colonial	16.125%	28		16.125%	30
Proteus	10.0%	14		10.0%	15
Endymion	10.0%	18		10.0%	18
		$	1,069		$	926

We acquired a 79.0% interest in Mattox in the April 2020 Transaction. This investment qualifies for equity method accounting, as we have the ability to exercise significant influence but not control over this investment as of the acquisition date. Upon acquisition, we recorded SGOM’s historical carrying value of the equity interests transferred as a transaction between entities under common control, totaling $174 million. We recorded equity earnings for Mattox prospectively from the date of acquisition. Subsequent to the April 2020 Transaction date, we recorded $15 million equity earnings for Mattox for both the three and six months ended June 30, 2020. We also received second quarter distributions for Mattox in the amount of $18 million and recorded these distributions as a reduction to the equity method investment balance.

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 June 30, 2020 and December 31, 2019, the unamortized basis differences included in our equity investments are $88 million and $92 million, respectively. For the three and six months ended June 30, 2020 the net amortization expense was $2 million and $4 million, respectively, and for the three and six months ended June 30, 2019, the net amortization expense was $1 million and $2 million, respectively.

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 for this investment. Further, we have no commitments to provide further financial support to Poseidon. As such, we have recorded excess distributions in Other income of $9 million and $18 million for the three and six months ended June 30, 2020, respectively, and $9 million and $17 million for the three and six months ended June 30, 2019, respectively. If 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.


	Three Months Ended June 30,						Six Months Ended June 30, 2020
	2020		2019		2020		2019
Mattox⁽¹⁾	$	15	$	—	$	15	$	—
Amberjack	29		31		58		63
Mars	28		29		59		58
Bengal	4		5		9		10
Explorer ⁽²⁾	10		7		24		7
Colonial ⁽²⁾	18		4		45		4
Other⁽³⁾	5		4		11		8
	$	109	$	80	$	221	$	150

⁽²⁾We acquired additional interests in Explorer and Colonial in June 2019. The acquisition of these interests has been accounted for prospectively. Prior to the acquisition date, Explorer and Colonial were accounted for as Other investments without readily determinable fair values and were therefore carried at cost.

The adoption of ASC Topic 606, Revenue from Contracts with Customers, and all related accounting standards updates to such Topic (collectively, “the revenue standard”) for the majority of our equity method investments followed 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 the adoption of the revenue standard on January 1, 2019, we recognized our proportionate share of Amberjack’s cumulative effect transition adjustments as a decrease to opening (deficit) equity in the amount of $9 million under the modified retrospective transition method.

Under ASC Topic 842, Leases, the adoption date for our equity method investments will follow the non-public business entity adoption date of January 1, 2020 or 2021 for their stand-alone financial statements, with the exception of Permian Basin, which adopted on January 1, 2019. There was no material impact on the Partnership’s consolidated financial statements as a result of the adoption of the lease standard by our equity method investees.

We assess our equity method investments for impairment whenever changes in the facts and circumstances indicate a loss in value has occurred, if the loss is deemed to be other than temporary. Due to the changes in market conditions as a result of the continuing effects of the COVID-19 pandemic, as of June 30, 2020, we evaluated whether an impairment indicator existed. Based on our current forecast and expectations of market conditions, we determined that there was no triggering event that required us to update our impairment evaluation of our equity method investments. However, if the facts and circumstances change in the near term and indicate a loss in value that is other than temporary, we will re-evaluate whether the carrying amount of our equity method investments may not be recoverable.

The following tables present aggregated selected unaudited income statement data for our equity method investments on a 100% basis. However, during periods in which an acquisition occurs, the selected unaudited income statement data reflects activity from the date of the acquisition.


	Three Months Ended June 30, 2020
	Total revenues		Total operating expenses		Operating income		Net income
Statements of Income
Mattox⁽¹⁾	$	22	$	3	$	19	$	19
Amberjack	74		17		57		56
Mars	61		21		40		40
Bengal	15		8		7		7
Explorer	80		43		37		28
Colonial	348		166		182		116
Poseidon	30		8		22		20
Other ⁽²⁾	57		29		28		23


	Six Months Ended June 30, 2020
	Total revenues		Total operating expenses		Operating income		Net income
Statements of Income
Mattox⁽¹⁾	$	22	$	3	$	19	$	19
Amberjack	150		36		114		113
Mars	133		49		84		84
Bengal	32		15		17		17
Explorer	176		90		86		66
Colonial	749		329		420		285
Poseidon	63		17		46		42
Other ⁽²⁾	114		56		58		48

⁽¹⁾ Our interest in Mattox was acquired on April 1, 2020. Mattox’s total revenues, total operating expenses and operating income (on a 100% basis) for the six months ended June 30, 2020 were $40 million, $6 million and $34 million, respectively.


	Three Months Ended June 30, 2019
	Total revenues		Total operating expenses		Operating income		Net income
Statements of Income
Amberjack	$	74	$	17	$	57	$	58
Mars	67		26		41		42
Bengal	19		9		10		10
Explorer ⁽¹⁾	37		13		24		18
Colonial ⁽²⁾	88		44		44		27
Poseidon	34		8		26		23
Other⁽³⁾	56		37		19		17

⁽¹⁾ Our additional interest in Explorer was acquired on June 6, 2019. Explorer’s total revenues, total operating expenses and operating income (on a 100% basis) for the three months ended June 30, 2019 were $133 million, $48 million and $85 million, respectively.

⁽²⁾ Our additional interest in Colonial was acquired on June 6, 2019. Colonial’s total revenues, total operating expenses and operating income (on a 100% basis) for the three months ended June 30, 2019 were $325 million, $164 million and $161 million, respectively.


	Six Months Ended June 30, 2019
	Total revenues		Total operating expenses		Operating income		Net income
Statements of Income
Amberjack	$	155	$	36	$	119	$	120
Mars	130		48		82		83
Bengal	37		16		21		21
Explorer ⁽¹⁾	37		13		24		18
Colonial ⁽²⁾	88		44		44		27
Poseidon	65		17		48		43
Other⁽³⁾	86		55		31		26

⁽¹⁾ Our additional interest in Explorer was acquired on June 6, 2019. Explorer’s total revenues, total operating expenses and operating income (on a 100% basis) for the six months ended June 30, 2019 were $222 million, $94 million and $128 million, respectively.

⁽²⁾ Our additional interest in Colonial was acquired on June 6, 2019. Colonial’s total revenues, total operating expenses and operating income (on a 100% basis) for the six months ended June 30, 2019 were $696 million, $330 million and $366 million, respectively.