Investments

Investments as of August 31, 2018, and 2017, are as follows:



	2018		2017
	(Dollars in thousands)
Equity method investments:
CF Industries Nitrogen, LLC	$	2,735,073	$	2,756,076
Ventura Foods, LLC	360,150		347,016
Ardent Mills, LLC	205,898		206,529
Other equity method investments	288,016		309,767
Cost method and other investments	122,788		131,605
Total investments	$	3,711,925	$	3,750,993

Joint ventures and other investments in which we have significant ownership and influence but not control, are accounted for in our consolidated financial statements using the equity method of accounting. Our significant equity method investments consist of CF Nitrogen, Ventura Foods, and Ardent Mills, LLC ("Ardent Mills"), which are summarized below.

CF Nitrogen

On February 1, 2016, we invested $2.8 billion in CF Nitrogen, commencing our strategic venture with CF Industries Holdings, Inc. The investment consists of an approximate 10% membership interest (based on product tons) in CF Nitrogen. We also entered into an 80-year supply agreement that entitles us to purchase up to 1.1 million tons of granular urea and 580,000 tons of urea ammonium nitrate ("UAN") annually from CF Nitrogen for ratable delivery. Our purchases under the supply agreement are based on prevailing market prices and we receive semi-annual cash distributions (in January and July of each year) from CF Nitrogen via our membership interest. These distributions are based on actual volumes purchased from CF Nitrogen under the strategic venture and will have the effect of reducing our investment to zero over 80 years on a straight-line basis. We account for this investment using the hypothetical liquidation at book value method, recognizing our share of the earnings and losses of CF Nitrogen based upon our contractual claims on the entity's net assets pursuant to the liquidation provisions of CF Nitrogen's Limited Liability Company Agreement, adjusted for the semi-annual cash distributions. For the years ended August 31, 2018, and 2017, these amounts were $106.9 million and $66.5 million, respectively, and are included as equity income from investments in our Nitrogen Production segment.

The following tables provide aggregate summarized financial information for CF Nitrogen for the balance sheets as of August 31, 2018, and 2017, and the statements of operations for the twelve months ended August 31, 2018, and 2017, and the seven months ended August 31, 2016:



	2018		2017
	(Dollars in thousands)
Current assets	$	576,076	$	394,089
Non-current assets	7,447,594		7,314,629
Current liabilities	215,104		390,206
Non-current liabilities	71		6



	2018		2017		2016
	(Dollars in thousands)
Net sales	$	2,449,695	$	2,051,159	$	1,027,142
Gross profit	423,612		195,142		243,911
Net earnings	401,295		123,965		186,665
Earnings attributable to CHS Inc.	106,895		66,530		74,700

Ventura Foods and Ardent Mills

We have a 50% interest in Venture Foods which is a joint venture that produces and distributes primarily vegetable oil-based products and we have a 12% interest in Ardent Mills, which is a joint venture with Cargill Incorporated ("Cargill") and ConAgra Foods, Inc., which combines the North American flour milling operations of the three parent companies. We account for Ventura Foods and Ardent Mills as equity method investments included in Corporate and Other.

The following tables provide aggregate summarized financial information for our equity method investments in Ventura Foods and Ardent Mills for balance sheets as of August 31, 2018, and 2017, and statements of operations for the twelve months ended August 31, 2018, 2017 and 2016:



	2018		2017
	(Dollars in thousands)
Current assets	$	1,462,590	$	1,483,384
Non-current assets	2,331,295		2,358,434
Current liabilities	671,928		685,462
Non-current liabilities	693,360		765,078



	2018		2017		2016
	(Dollars in thousands)
Net sales	$	5,882,035	$	5,762,849	$	5,694,622
Gross profit	601,927		673,329		677,920
Net earnings	226,776		265,126		265,025
Earnings attributable to CHS Inc.	46,069		60,716		88,936

Our investments in other equity method investees are not significant in relation to our consolidated financial statements, either individually or in the aggregate.