Equity Investments And Membership Interests In Joint Ventures

3 Months Ended

Mar. 31, 2012

Equity Investments And Membership Interests In Joint Ventures [Abstract]

Equity Investments and Membership Interests in Joint Ventures

6. Equity Investments and Membership Interests in Joint Ventures

The Company accounts for its investments and membership interests in joint ventures under the equity method of accounting if the Company has the ability to exercise significant influence, but not control, over the entity. Below are the equity method investments reflected in the condensed consolidated balance sheets:

	Knight Hawk	DKRW	Dominion	Tenaska	Millennium	Tongue
	Holdings,	Advanced	Terminal	Trailblazer	Bulk	River
	LLC	Fuels, LLC	Associates	Partners, LLC	Terminals, LLC	Railroad, LLC
In thousands	("KH")	("DKRW")	("DTA")	("Tenaska")	("MBT")	("TRR")	Total
Balance at December 31, 2011	$ 135,225	$ 19,715	$ 16,086	$ 15,266	$ 26,324	$ 12,989	$ 225,605
Investments in affiliates	-	-	-	-	-	-	-
Advances to (distributions from) affiliates, net	(1,801)	-	925	-	2,562	675	2,361
Equity in comprehensive income (loss)	5,243	(879)	(1,254)	-	(557)	-	2,553
Balance at March 31, 2012	$ 138,667	$ 18,836	$ 15,757	$ 15,266	$ 28,329	$ 13,664	$ 230,519
Notes receivable from investees:
Balance at December 31, 2011	$ -	$ 30,751	$ -	$ 5,059	$ -	$ -	$ 35,810
Balance at March 31, 2012	$ -	$ 33,561	$ -	$ 5,031	$ -	$ -	$ 38,592

Summarized financial information of the Company's equity method investees follows:

(In thousands)	Three Months Ended March 31,
	2012			2011
Condensed combined income statement information:
Revenues	$	51,743	$	44,470
Gross profit		2,475		6,084
Income from operations		(376)		3,643
Net income (loss)		(2,437)		2,283
		March 31, 2012		December 31, 2011
Condensed combined balance sheet information:
Current assets	$	94,811	$	94,645
Noncurrent assets		361,918		332,124
Total assets	$	456,729	$	426,769
Current liabilities	$	62,260	$	51,953
Noncurrent liabilities		125,350		120,494
Equity		268,918		254,161
Noncontrolling interest		201		161
Total liabilities and equity	$	456,729	$	426,769

The Company may be required to make future contingent payments of up to $73.0 million related to development financing for certain of its equity investees. The Company’s obligation to make these payments, as well as the timing of any payments required, is contingent upon a number of factors, including project development progress, receipt of permits and construction financing.