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Equity Method Investments
 9 Months Ended
Sep. 30, 2016
Equity Method Investments and Joint Ventures [Abstract]  
Equity Method Investments
Equity Method Investments
The Company has five equity method investments in limited liability companies that own refined coal production plants (the “clean energy investments”), whose activities qualify for income tax credits under Section 45 of the Internal Revenue Code, as amended. In addition, the Company holds a 50% interest in Sagent Agila LLC (“Sagent Agila”), which is accounted for using the equity method of accounting. Sagent Agila was established to allow for the development, manufacturing and distribution of certain generic injectable products in the U.S. market.
The carrying values and respective balance sheet accounts of the Company’s clean energy investments and interest in Sagent Agila is as follows at September 30, 2016 and December 31, 2015, respectively:
(In millions)
September 30, 2016
 
December 31, 2015
Clean Energy Investments:
 
 
 
Other assets
$
337.6

 
$
379.3

Total liabilities
382.0

 
419.3

Other current liabilities
64.1

 
62.3

Other long-term obligations
317.9

 
357.0

Sagent Agila:
 
 
 
Other assets
$
80.0

 
$
96.2


Summarized financial information, in the aggregate, for the Company’s significant equity method investments on a 100% basis for the three and nine months ended September 30, 2016 and 2015 are as follows:
 
Three Months Ended
 
Nine Months Ended
 
September 30,
 
September 30,
(In millions)
2016
 
2015
 
2016
 
2015
Total revenues
$
170.0

 
$
205.7

 
$
418.2

 
$
492.2

Gross (loss) profit
(3.0
)
 
(3.5
)
 
(3.8
)
 
(4.0
)
Operating and non-operating expense
6.3

 
6.9

 
16.3

 
18.7

Net loss
$
(9.3
)
 
$
(10.4
)
 
$
(20.1
)
 
$
(22.7
)

The Company’s net losses from the six equity method investments includes amortization expense related to the excess of the cost basis of the Company’s investment to the underlying assets of each individual investee. For the three months ended September 30, 2016 and 2015, the Company recognized net losses from equity method investments of $29.7 million and $27.8 million, respectively. For the nine months ended September 30, 2016 and 2015, the Company recognized net losses from equity method investments of $85.5 million and $77.5 million, respectively, which was recognized as a component of other expense, net in the Condensed Consolidated Statements of Operations. The Company recognizes the income tax credits and benefits from the clean energy investments as part of its provision for income taxes.