EQUITY METHOD INVESTMENTS

12 Months Ended

Dec. 31, 2015

Equity Method Investment Summarized Financial Information Equity [Abstract]

NOTE 8—EQUITY METHOD INVESTMENTS

Our consolidated net income includes our proportionate share of the net income or loss of our equity method investees. We do not have any investments accounted for under the equity method that are considered individually material. None of the equity method investees are listed on a stock exchange.

Summarized 100 percent balance sheet information for investments in equity method investees, combined, are set forth below:

	December 31, 2015		December 31, 2014
	(In thousands)
Current Assets	$	133,171	$	228,846
Noncurrent Assets		189,536		211,448
Total Assets	$	322,707	$	440,294
Current Liabilities	$	176,165	$	265,997
Noncurrent Liabilities		112,162		126,722
Total Liabilities	$	288,327	$	392,719

Summarized 100 percent income statement information for investments in equity method investees, combined, are set forth below:

	December 31, 2015			December 31, 2014			December 31, 2013
	(In thousands)
Revenues	$	107,795		$	294,408		$	569,574
Cost of operations		105,465			275,015			529,237
Gross Profit		2,330			19,393			40,337
Net Income (loss)		(38,245	)		(28,773	)		1,036

Our share of income taxes incurred directly by an equity company is reported in equity in earnings of equity method investee, and as such is not included in income taxes in our consolidated financial statements.

The difference between our carrying value and the underlying equity in the net assets of our equity investments are assigned to the investment’s assets and liabilities based on an analysis of the factors giving rise to the basis difference. The amortization of the basis difference is included in Loss from investments in unconsolidated affiliates in the Consolidated Statements of Operations.