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Equity Method Investments
12 Months Ended
Dec. 31, 2014
Equity Method Investments [Abstract]  
Equity Method Investments
Equity Method Investments

Income (loss) from our equity method investments was $16.2 million, $15.9 million and $(15.0) million in 2014, 2013 and 2012, respectively and our proportionate share in their net assets was $49.0 million and $48.4 million, at December 31, 2014 and 2013, respectively. Our equity method investments are not material to our results of operations or financial position; therefore, summarized financial information is not required to be presented.

In 2013 and 2012, we recorded a net impairment charge of $10.7 million and $29.2 million, respectively, to reduce the carrying value of our equity investment in Egypt to fair value. The civil unrest in Egypt, which began in 2012 and continued into 2013, affected the financial condition and business prospects of our equity investment and we determined that an other-than-temporary impairment had occurred. Accordingly, we recorded an impairment charge in 2013 and 2012 to reflect the reduction in value to our equity investment and record it at fair value at December 31, 2013 and 2012, respectively. The measurement of fair value was based on significant unobservable estimates and assumptions (Level 3 inputs), including expected discounted cash flows. The estimates and assumptions included a weighted average cost of capital of 27% and 22% in 2013 and 2012, respectively, and an expected long-term growth rate of 5% for both years. The impairment charges are included in income (loss) from equity method investments in our income statement. In 2014, the financial condition and business prospects of our equity investment stabilized. Therefore, we determined that there has been no further decline in the fair value of our equity investment below carrying value.