4.INVESTMENT IN TERMINAL JOINT VENTURE

The Company accounts for its 35 percent ownership interest in the related party Terminal Joint Venture using the equity method of accounting. The Company records its share of income in the Terminal Joint Venture in operating costs within the Ocean Transportation segment due to operations of the Terminal Joint Venture being an integral part of the Company’s Ocean Transportation business. The Company’s investment in the Terminal Joint Venture was $93.2 million and $82.4 million at December 31, 2017 and 2016, respectively.

The Company’s share of income recorded in the Consolidated Statements of Income and Comprehensive Income, and dividends received by the Company during the years ended December 31, 2017, 2016 and 2015 is as follows:


	Years Ended December 31,
Terminal Joint Venture (in millions)	2017		2016		2015
Company Share of Net Income	$	28.2	$	15.8	$	16.5
Distributions Received	$	17.5	$	—	$	14.0

The Company’s Ocean Transportation segment operating costs include $181.3 million, $177.8 million and $174.1 million for the years ended December 31, 2017, 2016 and 2015, respectively, for terminal services provided by SSAT. Accounts payable and accrued liabilities in the Consolidated Balance Sheets include $22.8 million and $16.7 million for terminal services payable to the Terminal Joint Venture at December 31, 2017 and 2016, respectively.

A summary of unaudited condensed financial information for the Terminal Joint Venture at December 31, 2017 and 2016 is as follows:


	As of December 31,
Condensed Balance Sheets (Unaudited) (in millions)	2017		2016
Current assets	$	181.0	$	147.7
Non-current assets		161.8		138.5
Total Assets	$	342.8	$	286.2

Current liabilities	$	65.3	$	48.9
Non-current liabilities		23.8		14.8
Equity		253.7		222.5
Total Liabilities and Equity	$	342.8	$	286.2


	Years Ended December 31,
Condensed Statements of Operating Income and Net Income (Unaudited) (in millions)	2017		2016		2015
Operating revenue	$	933.5	$	740.9	$	621.0
Operating costs and expenses		850.2		706.5		610.2
Operating income		83.3		34.4		10.8
Net Income (1)	$	80.9	$	45.1	$	44.9

(1)Includes earnings from equity method investments held by the Terminal Joint Venture less earnings allocated to non-controlling interests.