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EQUITY METHOD INTERESTS (Tables)
 12 Months Ended
Dec. 31, 2019
Equity Method Investments and Joint Ventures [Abstract]  
Equity Method Investments
The following table presents the activity in the Company’s equity method interests for the year ended December 31, 2019:
 
Gulf Coast Express Pipeline LLC
 
EPIC Crude Holdings, LP
 
Permian Highway Pipeline LLC
 
Breviloba, LLC
 
 
 
 
 
 
 
Total
 
 
 
 
 
 
 
 
 
 
 
(In thousands)
Balance at December 31, 2018
$
91,100

 
$
—

 
$
—

 
$
—

 
$
91,100

Acquisitions
15,274

 
51,810

 
161,081

 
442,460

 
670,625

Contributions
183,915

 
123,750

 
146,580

 
47,107

 
501,352

Distributions
(16,208
)
 
—

 
—

 
(9,108
)
 
(25,316
)
Capitalized interest(1)
—

 
—

 
2,370

 
—

 
2,370

Equity income (loss), net(2)
17,547

 
(11,209
)
 
390

 
12,341

 
19,069

Accumulated other comprehensive loss
—

 
(1,152
)
 
—

 
—

 
(1,152
)
Balance at December 31, 2019
$
291,628

 
$
163,199

 
$
310,421

 
$
492,800

 
$
1,258,048

(1)
Altus’ proportionate share of the Permian Highway Pipeline (PHP) construction costs is funded with the revolving credit facility. Accordingly, Altus capitalized $2.4 million of related interest expense, which is included in the basis of the PHP equity interest.
(2)
The amount of consolidated retained earnings, net of amortized basis differences, which represents undistributed earnings was $1.4 million and $3.4 million from Gulf Coast Express Pipeline LLC and Breviloba, LLC, respectively.
Summarized Financial Information
The following represents aggregated selected income statement and balance sheet data for the Company’s equity method interests (on a 100 percent basis):
 
 
For the Year Ended December 31,
 
 
2019(1)
 
2018(2)
 
 
Gulf Coast Express Pipeline LLC
 
EPIC Crude Holdings, LP
 
Permian Highway Pipeline LLC
 
Breviloba, LLC
 
Gulf Coast Express Pipeline LLC
 
EPIC Crude Holdings, LP
 
Permian Highway Pipeline LLC
 
Breviloba, LLC
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Statements of Income
 
(In thousands)
Revenues
 
$
132,103

 
$
40,756

 
$
—

 
$
129,559

 
$
2,609

 
$
—

 
$
—

 
$
—

Operating expenses
 
24,047

 
108,519

 
93

 
48,190

 
432

 
7,430

 
61

 
674

Operating income (loss)
 
108,056

 
(67,763
)
 
(93
)
 
81,369

 
2,177

 
(7,430
)
 
(61
)
 
(674
)
Net income (loss)
 
109,997

 
(72,535
)
 
1,587

 
81,469

 
3,685

 
(8,939
)
 
(61
)
 
(674
)
Other comprehensive loss
 
—

 
(7,681
)
 
—

 
—

 
—

 
—

 
—

 
—

 
 
As of December 31,
 
 
2019(1)
 
2018(2)
 
 
Gulf Coast Express Pipeline LLC
 
EPIC Crude Holdings, LP
 
Permian Highway Pipeline LLC
 
Breviloba, LLC
 
Gulf Coast Express Pipeline LLC
 
EPIC Crude Holdings, LP
 
Permian Highway Pipeline LLC
 
Breviloba, LLC
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Balance Sheets
 
(In thousands)
Current assets
 
$
72,412

 
$
190,474

 
$
84,999

 
$
93,169

 
$
74,304

 
$
374,307

 
$
2,836

 
$
3

Noncurrent assets
 
1,766,150

 
2,017,669

 
1,252,571

 
1,399,356

 
817,895

 
332,662

 
95,368

 
1,130,998

Total assets
 
$
1,838,562

 
$
2,208,143

 
$
1,337,570

 
$
1,492,525

 
$
892,199

 
$
706,969

 
$
98,204

 
$
1,131,001

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Current liabilities
 
$
48,128

 
$
188,299

 
$
203,657

 
$
37,599

 
$
246,288

 
$
388,664

 
$
8,376

 
$
161,489

Noncurrent liabilities
 
605

 
956,744

 
—

 
1,108

 
—

 
—

 
—

 
1,269

Equity
 
1,789,829

 
1,063,100

 
1,133,913

 
1,453,818

 
645,911

 
318,305

 
89,828

 
968,243

Total liabilities and equity
 
$
1,838,562

 
$
2,208,143

 
$
1,337,570

 
$
1,492,525

 
$
892,199

 
$
706,969

 
$
98,204

 
$
1,131,001

(1)
Although Altus interests in EPIC Crude Holdings, LP, Permian Highway Pipeline LLC, and Breviloba, LLC were acquired in March, May, and July of 2019, respectively, the financial results for all equity method interests are presented for the entire twelve months for both periods for comparability.
(2)
Altus exercised its first pipeline equity option, Gulf Coast Express Pipeline LLC in December 2018; however, the financial results are presented for the entire twelve months for both periods for comparability.
 
December 31, 2019
 
December 31, 2018
In thousands, unless stated
Ownership
 
Amount
 
Ownership
 
Amount
Gulf Coast Express Pipeline LLC
16.0
%
 
$
291,628

 
15.0
%
 
$
91,100

EPIC Crude Holdings, LP
15.0
%
 
163,199

 
—
%
 
—

Permian Highway Pipeline LLC
26.7
%
 
310,421

 
—
%
 
—

Breviloba, LLC
33.0
%
 
492,800

 
—
%
 
—

 
 
 
$
1,258,048

 
 
 
$
91,100