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Variable interest entity (Tables)
12 Months Ended
Dec. 31, 2016
Equity Method Investments and Joint Ventures [Abstract]  
Equity Method Investments
The following table summarizes items included in Medallion's consolidated statements of operations, which are not recorded in the Company's consolidated financial statements, for the periods presented:
 
 
For the years ended December 31,
(in thousands)
 
2016(1)
 
2015(2)
 
2014
Total revenues
 
$
56,075

 
$
38,306

 
$
4,623

Gross profit(3)
 
55,821

 
30,869

 
4,623

Net income (loss)(4)
 
19,601

 
13,409

 
(333
)
_____________________________________________________________________________
(1)
Medallion's consolidated statement of operations for the year ended December 31, 2016 was unaudited as of February 16, 2017.
(2)
Medallion's audited consolidated statement of operations for the year ended December 31, 2015 was finalized after the filing of the Company's Annual Report on Form 10-K for the year ended December 31, 2015.
(3)
Medallion's pipeline did not become operational until 2015, accordingly no costs of goods sold were recorded for the year ended December 31, 2014.
(4)
As Medallion's financial statements are unaudited at the time of filing the Company's Annual Report on Form 10-K, the Company's proportionate share of Medallion's net income (loss) reflected in the Company's consolidated statements of operations for the years ended December 31, 2016, 2015 and 2014 includes immaterial prior period Medallion audit adjustments.
    
The following table summarizes items included in Medallion's consolidated balance sheets, which are not recorded in the Company's consolidated financial statements:
 
 
As of December 31,
(in thousands)
 
2016(1)
 
2015(2)
Assets:
 
 
 
 
Current assets
 
$
51,390

 
$
82,145

Noncurrent assets
 
460,995

 
352,121

Total assets
 
$
512,385

 
$
434,266

Liabilities:
 
 
 
 
Current liabilities
 
$
14,523

 
$
41,772

Noncurrent liabilities
 

 

Total liabilities
 
$
14,523

 
$
41,772

_____________________________________________________________________________
(1)
Medallion's consolidated balance sheet as of December 31, 2016 was unaudited as of February 16, 2017.
(2)
Medallion's audited consolidated balance sheet as of December 31, 2015 was finalized after the filing of the Company's Annual Report on Form 10-K for the year ended December 31, 2015.