Investment in Affiliates

The Company has several investments in non-consolidated affiliates that are accounted for using the equity method of accounting. As of June 2, 2018, the Company owns 50% of each of Red River Valley Egg Farm, LLC, Specialty Eggs, LLC, and Southwest Specialty, LLC. Investment in affiliates are included in “Other Investments” in the accompanying Consolidated Balance Sheets and totaled $64.2 million and $62.8 million at June 2, 2018 and at June 3, 2017, respectively.

Equity in income of affiliates of $3.5 million, $1.4 million, and $5.0 million from these entities has been included in the Consolidated Statements of Operations for fiscal 2018, 2017, and 2016, respectively.

The condensed consolidated financial information for the Company's unconsolidated joint ventures was as follows:



	For the fiscal year ended
	June 2, 2018	June 3, 2017	May 28, 2016
Net sales	137,612	86,072	91,320
Net income	7,071	2,804	10,090
Total assets	134,056	131,871	100,700
Total liabilities	5,859	6,543	5,697
Total equity	128,197	125,328	95,003

The Company is a member of Eggland’s Best, Inc. (“EB”), which is a cooperative. At June 2, 2018 and June 3, 2017, “Other Investments” as shown on the Company’s Consolidated Balance Sheet includes the cost of the Company’s investment in EB plus any qualified written allocations. The Company cannot exert significant influence over EB’s operating and financial activities; therefore, the Company accounts for this investment using the cost method. The carrying value of this investment at June 2, 2018 and June 3, 2017 was $2.6 million and $2.9 million, respectively.

The Company regularly transacts business with its cost and equity method affiliates. The following relates to the Company’s transactions with these unconsolidated affiliates (in thousands):

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	For the fiscal year ended
	June 2, 2018		June 3, 2017		May 28, 2016
Sales to affiliates	$	59,295	$	59,073	$	61,094
Purchases from affiliates	81,043		73,713		79,419
Dividends from affiliates	4,664		6,581		4,550



	June 2, 2018		June 3, 2017
Accounts receivable from affiliates	$	4,603	$	4,643
Accounts payable to affiliates	3,525		3,617