Equity Investments |
7. EQUITY INVESTMENTS
The following table presents the activity of WES’s equity investments for the nine months ended September 30, 2016: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Equity Investments | thousands | Fort Union | | White Cliffs | | Rendezvous | | Mont Belvieu JV | | TEG | | TEP | | FRP | | Total | Balance at December 31, 2015 | $ | 17,122 |
| | $ | 50,439 |
| | $ | 50,913 |
| | $ | 117,089 |
| | $ | 16,283 |
| | $ | 194,803 |
| | $ | 172,238 |
| | $ | 618,887 |
| Investment earnings (loss), net of amortization | (308 | ) | | 10,474 |
| | 1,413 |
| | 18,245 |
| | 529 |
| | 12,239 |
| | 14,209 |
| | 56,801 |
| Contributions | — |
| | 441 |
| | — |
| | — |
| | — |
| | (580 | ) | | — |
| | (139 | ) | Distributions | (787 | ) | | (10,038 | ) | | (2,573 | ) | | (18,274 | ) | | (546 | ) | | (12,427 | ) | | (15,026 | ) | | (59,671 | ) | Distributions in excess of cumulative earnings (1) | (3,354 | ) | | (3,393 | ) | | (1,541 | ) | | (3,963 | ) | | (266 | ) | | (3,720 | ) | | (355 | ) | | (16,592 | ) | Balance at September 30, 2016 | $ | 12,673 |
| | $ | 47,923 |
| | $ | 48,212 |
| | $ | 113,097 |
| | $ | 16,000 |
| | $ | 190,315 |
| | $ | 171,066 |
| | $ | 599,286 |
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| | (1) | Distributions in excess of cumulative earnings, classified as investing cash flows in the consolidated statements of cash flows, is calculated on an individual investment basis. |
During the nine months ended September 30, 2016, an impairment loss was recognized by the managing partner of Fort Union. WES’s 14.81% share of the impairment loss was $3.0 million, which was recorded in Equity income, net – affiliates in the consolidated statements of operations.
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