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Equity Investments (Tables)
 12 Months Ended
Dec. 31, 2019
Equity Method Investments and Joint Ventures [Abstract]  
Equity Investments Tables
The following tables present the equity-investments activity for the years ended December 31, 2019 and 2018:
thousands
 
Balance at December 31, 2017
 
Acquisitions
 
Equity
income, net
 
Contributions (1)
 
Distributions
 
Distributions in
excess of
cumulative
earnings (2)
 
Balance at December 31, 2018
Fort Union
 
$
7,030

 
$
—

 
$
(1,433
)
 
$
—

 
$
(194
)
 
$
(3,144
)
 
$
2,259

White Cliffs
 
44,945

 
—

 
11,841

 
1,278

 
(11,259
)
 
(3,785
)
 
43,020

Rendezvous
 
42,528

 
—

 
767

 
—

 
(2,709
)
 
(2,745
)
 
37,841

Mont Belvieu JV
 
110,299

 
—

 
29,200

 
—

 
(29,239
)
 
(5,311
)
 
104,949

TEG
 
15,879

 
—

 
4,290

 
3,720

 
(4,368
)
 
(163
)
 
19,358

TEP
 
178,975

 
—

 
37,963

 
11,980

 
(33,552
)
 
(2,168
)
 
193,198

FRP
 
166,555

 
—

 
23,308

 
14,980

 
(23,481
)
 
(4,926
)
 
176,436

Whitethorn LLC
 
—

 
150,563

 
47,088

 
7,069

 
(39,497
)
 
(3,365
)
 
161,858

Cactus II
 
—

 
12,052

 
—

 
94,308

 
—

 
—

 
106,360

Saddlehorn
 
109,227

 
—

 
15,833

 
294

 
(16,017
)
 
(830
)
 
108,507

Panola
 
23,625

 
—

 
2,200

 
—

 
(2,200
)
 
(856
)
 
22,769

Mi Vida
 
64,988

 
—

 
13,734

 
—

 
(14,000
)
 
(91
)
 
64,631

Ranch Westex
 
53,301

 
—

 
10,678

 
—

 
(10,876
)
 
(2,201
)
 
50,902

Total
 
$
817,352

 
$
162,615

 
$
195,469

 
$
133,629

 
$
(187,392
)
 
$
(29,585
)
 
$
1,092,088

thousands
 
Balance at December 31, 2018
 
Acquisitions
 
Equity
income, net
 
Contributions (1)
 
Distributions
 
Distributions in
excess of
cumulative
earnings (2)
 
Balance at December 31, 2019
Fort Union
 
$
2,259

 
$
—

 
$
(2,232
)
 
$
—

 
$
—

 
$
(637
)
 
$
(610
)
White Cliffs
 
43,020

 
—

 
9,500

 
5,414

 
(8,918
)
 
(3,139
)
 
45,877

Rendezvous
 
37,841

 
—

 
769

 
—

 
(2,710
)
 
(2,936
)
 
32,964

Mont Belvieu JV
 
104,949

 
—

 
28,412

 
—

 
(28,451
)
 
(1,874
)
 
103,036

TEG
 
19,358

 
—

 
4,088

 
—

 
(4,110
)
 
(1,137
)
 
18,199

TEP
 
193,198

 
—

 
30,871

 
12,220

 
(32,733
)
 
—

 
203,556

FRP
 
176,436

 
—

 
32,617

 
30,175

 
(31,446
)
 
—

 
207,782

Whitethorn LLC
 
161,858

 
—

 
74,548

 
10,332

 
(74,856
)
 
(10,217
)
 
161,665

Cactus II
 
106,360

 
—

 
10,755

 
56,252

 
(1,202
)
 
—

 
172,165

Saddlehorn
 
108,507

 
—

 
25,524

 
3,550

 
(24,726
)
 
—

 
112,855

Panola
 
22,769

 
—

 
2,136

 
—

 
(2,137
)
 
(985
)
 
21,783

Mi Vida
 
64,631

 
—

 
10,655

 
—

 
(12,077
)
 
(5,402
)
 
57,807

Ranch Westex
 
50,902

 
—

 
6,812

 
—

 
(8,143
)
 
(2,893
)
 
46,678

Red Bluff Express
 
—

 
92,546

 
3,063

 
10,450

 
(3,063
)
 
(1,036
)
 
101,960

Total
 
$
1,092,088

 
$
92,546

 
$
237,518

 
$
128,393

 
$
(234,572
)
 
$
(30,256
)
 
$
1,285,717

(1) 
Includes capitalized interest of $1.4 million and $3.6 million for the years ended December 31, 2018 and 2019, respectively, related to the construction of the Cactus II pipeline.
(2) 
Distributions in excess of cumulative earnings, classified as investing cash flows in the consolidated statements of cash flows, are calculated on an individual-investment basis.
Summarized Equity Investments Financial Information Presented at 100 Percent Tables
The following tables present the summarized combined financial information for equity investments (amounts represent 100% of investee financial information):
 
 
Year Ended December 31,
thousands
 
2019
 
2018
 
2017
Revenues
 
$
1,687,116

 
$
1,300,921

 
$
877,020

Operating income
 
1,107,664

 
876,910

 
542,390

Net income
 
1,108,173

 
874,587

 
540,538

 
 
December 31,
thousands
 
2019
 
2018
Current assets
 
$
433,390

 
$
297,143

Property, plant, and equipment, net
 
5,754,160

 
4,251,020

Other assets
 
175,231

 
81,769

Total assets
 
$
6,362,781

 
$
4,629,932

Current liabilities
 
223,171

 
$
101,729

Non-current liabilities
 
27,024

 
42,431

Equity
 
6,112,586

 
4,485,772

Total liabilities and equity
 
$
6,362,781

 
$
4,629,932