8. Equity Investments

At December 31, 2018 the Company had a 38% ownership in XPS Logisti-K Systems, S.A.P.I. de C.V. (“Logisti-K”), a Mexican based third party logistics business with the remaining 62% interest is owned by management of Logisti-K, and a 30% neutral investment in Dylka (Distribuciones Logisti-K S.A. de C. V. (“Dylka”), an intra-Mexican carrier with the remaining 70% interest owned by the management of Dylka with these shareholders also representing 42% ownership of Logisti-K. The Company had provided the combined companies a $5.0 million working capital loan. At December 31, 2018, the outstanding amount of the working capital loan was $4.9 million plus accrued interest. On January 17, 2019, we sold our investments in Logisti-K and Dylka in conjunction with the sale of Xpress Internacional and entered into promissory notes for the working capital loan plus interest. The notes have scheduled monthly payments and mature in April 2029. As of December 31, 2019, Logisti-K and Dylka were in compliance with the terms of the notes.

During 2011 and 2012, the Company obtained common unit ownership interests in DriverTech, LLC (DriverTech). DriverTech is a provider of onboard computers designed for in-cab use and related software for the trucking industry. The Company owns 20.73% and certain members of management of the Company own 12.00%. The remaining 67.27% is owned by other investors. The carrying value of our investment in DriverTech was $0 at December 31, 2019 and 2018, respectively.

In conjunction with the sale of Arnold Transportation, Inc. (Arnold) to Parker Global Enterprises, Inc. (Parker), the Company received common stock representing 45% of the outstanding equity interests of Parker. The investment in Parker is accounted for under the equity method of accounting and was initially recognized at fair value of $10.4 million on January 2, 2013. The carrying amount of the Company’s investment in Parker was $0 as of December 31, 2019 and 2018. In February 2020, we sold our interest in Parker to the management of Parker.

In April 2015, we sold our interest in XGS and received common stock representing 10% of the outstanding equity interests of XGS valued at $0.2 million, and $5.0 million preferred stock. The investment in XGS was accounted for under the equity method of accounting and was initially recognized at fair value of $5.2 million on April 13, 2015. During December 2018, the Company’s residual 10% investment along with our preferred stock was extinguished and we recognized an impairment charge of $0.9 million.

Summarized financial information for the Company’s equity investments aggregated as of December 31, 2019, 2018 and 2017 is as follows (in thousands):


	As of December 31,
(in thousands)	2019		2018
Current assets		12,976		23,325
Non-current assets		14,704		29,297
Total Assets		27,680		52,622

Current liabilities		34,302		54,733
Non-current liabilities		62,058		83,085
Total Liabilities		96,360		137,818
Net Liabilities	$	(68,680)	$	(85,196)


	For the Years Ended December 31,
	2019		2018		2017
Total operating revenue	$	115,501	$	158,414	$	243,311
Operating expenses		122,459		151,523		247,384
Operating income (loss)		(6,958)		6,891		(4,073)
Net loss	$	(12,512)	$	(3,679)	$	(12,023)