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Transportation Resource Partners Transportation Resource Partners (Tables)
12 Months Ended
Dec. 31, 2019
Investments, Debt and Equity Securities [Abstract]  
Transportation Resource Partners Investments and Commitments
The following table presents ownership and commitment information for Knight's investments in TRP partnerships:
 
December 31, 2019
 
Knight's Ownership
 Interest 1
 
Total Commitment (All Partners)
 
Knight's Contracted Commitment
 
Knight's Remaining Commitment
 
(Dollars in thousands)
TRP – equity investment 2
2.4
%
 
$
260,000

 
$
5,500

 
$

TRP III – equity method investment 3
4.9
%
 
$
245,000

 
$
15,000

 
$
1,715

TRP IV – equity investment 2 4
4.4
%
 
$
116,000

 
$
4,900

 
$
750

TRP Coinvestment NTI – equity method investment 5
8.3
%
 
$
120,000

 
$
10,000

 
$

TRP Coinvestment QLS – equity method investment 5
25.0
%
 
$
39,000

 
$
9,735

 
$

TRP Coinvestment FFR – equity method investment 5 6
7.4
%
 
$
66,555

 
$
4,950

 
$

 
 
 
 
 
 
 
 

1
The Company's share of the results is included within "Other income, net" in the consolidated statements of comprehensive income.
2
In accordance with ASC Topic 321, Investments – Equity Securities, these investments are recorded at cost minus impairment.
3
Management anticipates that the following amounts will be due: $1.7 million in 2020.
4
Management anticipates that the following amounts will be due: $0.1 million in 2020, $0.2 million from 2021 through 2022, $0.2 million from 2023 through 2024, and $0.3 million thereafter.
5
The TRP Coinvestments are unconsolidated majority interests. Management considered the criteria set forth in ASC 323, Investments – Equity Method and Joint Ventures, to establish the appropriate accounting treatment for these investments. This guidance requires the use of the equity method for recording investments in limited partnerships where the "so minor" interest is not met. As such, the investments are being accounted for under the equity method. Knight's ownership interest reflects its ultimate ownership of the portfolio companies underlying the TRP Coinvestment NTI, TRP Coinvestment QLS, and TRP Coinvestment FFR legal entities.
6
The Company entered into the agreement in the first quarter of 2019.
Transportation Resources Partners Carrying Value
Net investment balances included in "Other long-term assets" in the consolidated balance sheets were as follows:
 
December 31,
 
2019
 
2018
 
(in thousands)
TRP – equity investment ¹
$

 
$
211

TRP III – equity method investment
252

 
1,781

TRP IV – equity investment ¹
3,068

 
2,022

TRP Coinvestment NTI – equity method investment
6,225

 
5,547

TRP Coinvestment QLS – equity method investment
16,383

 
11,085

TRP Coinvestment FFR – equity method investment
4,950

 

Total carrying value
$
30,878

 
$
20,646

 
 
 
 
1
In accordance with ASC Topic 321, Investments – Equity Securities, these investments are recorded at cost minus impairment.