Joint Venture

Kreher Steel Company, LLC is a 50% owned joint venture of the Company. Kreher is a national distributor and processor of carbon and alloy steel bar products, headquartered in Melrose Park, Illinois.

The following information summarizes the Company’s participation in the joint venture as of and for the year ended December 31:



	2015			2014		2013
Equity in earnings (losses) of joint venture	$	(1,426	)	$	7,691	$	6,987
Investment in joint venture	35,690			37,443		41,879
Sales to joint venture	284			188		198
Purchases from joint venture	49			224		86

The following information summarizes financial data for this joint venture as of and for the year ended December 31:



	2015			2014		2013
Revenues	$	160,104		$	259,487	$	230,351
Net income (loss)	(2,876		)	15,555		13,720
Current assets	66,645			93,679		82,827
Non-current assets	22,777			26,377		25,615
Current liabilities	7,792			11,896		10,548
Non-current liabilities	11,287			35,469		16,103
Members’ equity	70,343			72,691		81,791
Capital expenditures	2,176			3,042		1,789
Depreciation and amortization	2,390			2,294		2,217