EQUITY INVESTMENTS

9 Months Ended

Sep. 30, 2019

Equity Method Investments and Joint Ventures [Abstract]

8. EQUITY INVESTMENTS

The following table presents earnings (losses) from equity investments for the periods indicated (in thousands):



		Three Months Ended September 30,						Nine Months Ended September 30,
	Segment	2019			2018			2019			2018
VTTI B.V. ⁽¹⁾	Global Marine Terminals	$	—		$	4,375		$	—		$	13,647
Non-cash loss on write-down of investment in VTTI B.V. ⁽²⁾	Global Marine Terminals	—			(300,280		)	—			(300,280		)
West Shore Pipe Line Company	Domestic Pipelines & Terminals	3,457			2,750			8,542			7,542
Muskegon Pipeline LLC	Domestic Pipelines & Terminals	766			353			1,227			1,109
Transport4, LLC	Domestic Pipelines & Terminals	315			164			804			614
South Portland Terminal LLC	Domestic Pipelines & Terminals	454			502			1,218			1,162
South Texas Gateway Terminal LLC ⁽³⁾	Global Marine Terminals	(281		)	(251		)	(864		)	(427		)
Total earnings (loss) from equity investments		$	4,711		$	(292,387	)	$	10,927		$	(276,633	)


(1)	In January 2019, we completed the sale of our 50% equity interest in VTTI. See Note 3 - Acquisitions, Investments and Dispositions for further discussion.


(2)	In September 2018, we recorded our equity investment in VTTI at its estimated fair value, resulting in a non-cash loss.


(3)	In April 2018, we formed the STG Terminal joint venture. See Note 3 - Acquisitions, Investments and Disposition for further discussion.

Summarized combined income statement data for our equity method investments is as follows for the periods indicated (amounts represent 100% of investee income statement data in thousands):



	Three Months Ended September 30,				Nine Months Ended September 30,
	2019		2018		2019		2018
INCOME STATEMENT DATA:
Revenue	$	28,549	$	145,137	$	76,305	$	435,827
Operating income	16,177		42,637		42,650		132,446
Net income	12,374		24,262		32,817		75,394
Net income attributable to investee	12,374		22,748		32,817		70,877