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.


	September 30, 2020			December 31, 2019
	Ownership	Investment Amount		Ownership	Investment Amount
Mattox (1)	79.0%	$	166	—	$	—
Amberjack – Series A / Series B	75.0% / 50.0%	395		75.0% / 50.0%	426
Mars	71.5%	156		71.5%	161
Bengal	50.0%	89		50.0%	88
Permian Basin	50.0%	88		50.0%	91
LOCAP	41.48%	12		41.48%	9
Explorer	38.59%	79		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
		$	1,045		$	926

We acquired a 79% 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 recognize equity earnings for Mattox prospectively from the date of acquisition, and record the distributions from Mattox as a reduction to the equity method investment balance.

For the three and nine months ended September 30, 2020, distributions received from equity method investments were $142 million and $412 million, respectively, and for the three and nine months ended September 30, 2019 were $130 million and $341 million, respectively.

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 September 30, 2020 and December 31, 2019, the unamortized basis differences included in our equity investments are $86 million and $92 million, respectively. For the three and nine months ended September 30, 2020 the net amortization expense was $2 million and $6 million, respectively, and for the three and nine months ended September 30, 2019, the net amortization expense was $2 million and $4 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 $7 million and $25 million for the three and nine months ended September 30, 2020, respectively, and $8 million and $25 million for the three and nine months ended September 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 September 30,				Nine Months Ended September 30, 2020
	2020		2019		2020		2019
Mattox (1)	$	15	$	—	$	30	$	—
Amberjack	28		31		86		94
Mars	33		35		92		93
Bengal	5		8		14		18
Explorer (2)	9		20		33		27
Colonial (2)	14		17		59		21
Other (3)	5		4		16		12
	$	109	$	115	$	330	$	265

(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 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 the lease standard, 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 continuing effects of the COVID-19 pandemic, we evaluated whether an impairment indicator existed as of September 30, 2020. 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 September 30, 2020
	Total revenues		Total operating expenses		Operating income		Net income
Statements of Income
Mattox	$	22	$	3	$	19	$	19
Amberjack	69		16		53		54
Mars	68		22		46		46
Bengal	19		9		10		10
Explorer	75		42		33		25
Colonial	319		172		147		89
Poseidon	36		9		27		26
Other (1)	53		30		23		20


	Nine Months Ended September 30, 2020
	Total revenues		Total operating expenses		Operating income		Net income
Statements of Income
Mattox (1)	$	44	$	6	$	38	$	38
Amberjack	219		52		167		167
Mars	201		71		130		130
Bengal	51		24		27		27
Explorer	251		132		119		91
Colonial	1,068		501		567		374
Poseidon	99		26		73		68
Other (2)	167		91		76		68

(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 nine months ended September 30, 2020 were $62 million, $9 million and $53 million, respectively.


	Three Months Ended September 30, 2019
	Total revenues		Total operating expenses		Operating income		Net income
Statements of Income
Amberjack	$	80	$	18	$	62	$	62
Mars	82		32		50		50
Bengal	22		7		15		15
Explorer	122		51		71		55
Colonial	354		190		164		109
Poseidon	31		9		22		20
Other (1)	44		21		23		21


	Nine Months Ended September 30, 2019
	Total revenues		Total operating expenses		Operating income		Net income
Statements of Income
Amberjack	$	235	$	54	$	181	$	182
Mars	212		80		132		133
Bengal	59		23		36		36
Explorer (1)	159		64		95		73
Colonial (2)	442		234		208		136
Poseidon	96		26		70		63
Other (3)	130		76		54		47

(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 nine months ended September 30, 2019 were $344 million, $145 million and $199 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 nine months ended September 30, 2019 were $1,050 million, $520 million and $530 million, respectively.