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Investments (Tables) | 12 Months Ended
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Dec. 31, 2016
Investments [Abstract] |
Investment Balances | The following table details our investment balances at December 31, 2016 and 2015 (in thousands):
|  | December 31,
|  | 2016 |  | 2015
Joint ventures(a) |  | $ | 429,794 |  |  | $ | 411,119 |
Nonmarketable securities |  | 169 |  |  | 208 |
Marketable equity securities |  | 27,570 |  |  | 24,257 |
Total |  | $ | 457,533 |  |  | $ | 435,584 |
(a) | Balance at December 31, 2015 excludes our investment in Magnifin Magnesiaprodukte GmbH & Co. KG (“Magnifin”) and two investments included in the sale of the Chemetall Surface Treatment business, which are included in Assets held for sale. Refer to Note 3, “Divestitures,” for additional information.
Ownership Positions in Significant Unconsolidated Investments | Our ownership positions in significant unconsolidated investments are shown below:
|  |  | December 31,
|  |  | 2016 |  | 2015 |  | 2014
* |  | Windfield Holdings Pty. Ltd. - a joint venture with Sichuan Tianqi Lithium Industries, Inc., that mines lithium ore and produces lithium concentrate | 49 | % |  | 49 | % |  | — | %
* |  | Nippon Aluminum Alkyls - a joint venture with Mitsui Chemicals, Inc. that produces aluminum alkyls | 50 | % |  | 50 | % |  | 50 | %
* |  | Magnifin Magnesiaprodukte GmbH & Co. KG - a joint venture with Radex Heraklith Industriebeteiligung AG that produces specialty magnesium hydroxide products(a) | — | % |  | 50 | % |  | 50 | %
* |  | Nippon Ketjen Company Limited - a joint venture with Sumitomo Metal Mining Company Limited that produces refinery catalysts | 50 | % |  | 50 | % |  | 50 | %
* |  | Eurecat S.A. - a joint venture with IFP Investissements for refinery catalysts regeneration services | 50 | % |  | 50 | % |  | 50 | %
* |  | Fábrica Carioca de Catalisadores S.A. - a joint venture with Petrobras Quimica S.A. - PETROQUISA that produces catalysts and includes catalysts research and product development activities | 50 | % |  | 50 | % |  | 50 | %
(a) | On February 1, 2016, we sold our investment in Magnifin as part of the sale of the minerals-based flame retardants and specialty chemicals business. Refer to Note 3, “Divestitures,” for additional information.
Summary of Assets, Liabilities and Results of Operations for Significant Unconsolidated Joint Ventures | The following summary lists our assets, liabilities and results of operations for our significant unconsolidated joint ventures presented herein (in thousands):
|  | December 31,
|  | 2016 |  | 2015
Summary of Balance Sheet Information: |  |  |  |
Current assets |  | $ | 383,203 |  |  | $ | 331,630 |
Noncurrent assets |  | 913,643 |  |  | 935,790 |
Total assets |  | $ | 1,296,846 |  |  | $ | 1,267,420 |
Current liabilities |  | $ | 138,474 |  |  | $ | 106,966 |
Noncurrent liabilities |  | 319,801 |  |  | 339,604 |
Total liabilities |  | $ | 458,275 |  |  | $ | 446,570 |
|  | Year Ended December 31,
|  | 2016 |  | 2015 |  | 2014
Summary of Statements of Income Information: |  |  |  |  |  |
Net sales |  | $ | 590,980 |  |  | $ | 560,376 |  |  | $ | 499,394 |
Gross profit |  | $ | 267,241 |  |  | $ | 253,569 |  |  | $ | 164,063 |
Income before income taxes |  | $ | 189,016 |  |  | $ | 157,501 |  |  | $ | 101,983 |
Net income |  | $ | 126,872 |  |  | $ | 111,491 |  |  | $ | 71,466 |

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