Investments

12 Months Ended

Dec. 31, 2019

Investments, All Other Investments [Abstract]

Investments

Investments

As of December 31, 2019 and December 31, 2018, our investments consist of six investments accounted for under the cost method.

As of December 31, 2017, our equity investments consisted of a 50% owned investment. During the first quarter of 2018, we purchased the remaining outstanding shares of that entity, and we recognized a gain of $20.8 million on the previously held shares. This investment is now eliminated in consolidation.

A summary of our equity and cost method investments, which are included in other assets in the accompanying consolidated balance sheets, is as follows:

(amounts in thousands)	Equity			Cost			Total
Ending balance, December 31, 2017	$	32,745		$	442		$	33,187
Equity earnings	738			—			738
Acquired equity method investment	(33,483		)	—			(33,483		)
Other	—			(76		)	(76		)
Ending balance, December 31, 2018	$	—		$	366		$	366
Additions	—			16			16
Other	—			(13		)	(13		)
Ending balance, December 31, 2019	$	—		$	369		$	369

Loans or advances to affiliates were fully impaired as of December 31, 2019 and December 31, 2018.

The combined results of operations for the equity method investment as of December 31 is summarized below:

(amounts in thousands)	2019		2018			2017
Net sales	$	—	$	91,234		$	354,964
Gross profit	—		18,261			74,399
Net income	—		1,752			6,870
Adjustment for profit (loss) in inventory	—		(138		)	204
Net income attributable to Company	—		738			3,639

Sales to affiliates totaled $16.5 million and $59.3 million in 2018 and 2017, respectively, and purchases from affiliates totaled $1.0 million and $4.0 million for 2018 and 2017, respectively.

No impairments were recorded during fiscal years 2019, 2018, or 2017.