EQUITY INVESTMENTS

3 Months Ended

Mar. 31, 2015

6. EQUITY INVESTMENTS

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

	Three Months Ended
	March 31,
	2015			2014
Muskegon Pipeline LLC	$	87		$	249
Transport4, LLC	(32		)	67
West Shore Pipe Line Company	1,778			660
South Portland Terminal LLC	301			290
Total earnings from equity investments	$	2,134		$	1,266

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

	Three Months Ended
	March 31,
	2015			2014
Revenue	$	21,472		$	19,694
Costs and expenses	(9,738		)	(11,422		)
Non-operating expense	(4,296		)	(2,721		)
Net income	$	7,438		$	5,551

- Definition

The entire disclosure for equity method investments and joint ventures. Equity method investments are investments that give the investor the ability to exercise significant influence over the operating and financial policies of an investee. Joint ventures are entities owned and operated by a small group of businesses as a separate and specific business or project for the mutual benefit of the members of the group.

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