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Investments (Tables) | 12 Months Ended
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Dec. 31, 2017
Investments [Abstract] |
Investment Balances | The following table details our investment balances at December 31, 2017 and 2016 (in thousands):
|  | December 31,
|  | 2017 |  | 2016
Joint ventures |  | $ | 499,756 |  |  | $ | 429,794 |
Nonmarketable securities |  | 3,655 |  |  | 169 |
Marketable equity securities |  | 30,653 |  |  | 27,570 |
Total |  | $ | 534,064 |  |  | $ | 457,533 |
Ownership Positions in Significant Unconsolidated Investments | Our ownership positions in significant unconsolidated investments are shown below:
|  |  | December 31,
|  |  | 2017 |  | 2016 |  | 2015
* |  | Windfield Holdings Pty. Ltd. - a joint venture with Sichuan Tianqi Lithium Industries, Inc., that mines lithium ore and produces lithium concentrate | 49 | % |  | 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 | %
* |  | 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 Axens Group 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,
|  | 2017 |  | 2016
Summary of Balance Sheet Information: |  |  |  |
Current assets |  | $ | 503,043 |  |  | $ | 383,203 |
Noncurrent assets |  | 1,041,519 |  |  | 913,643 |
Total assets |  | $ | 1,544,562 |  |  | $ | 1,296,846 |
Current liabilities |  | $ | 133,670 |  |  | $ | 138,474 |
Noncurrent liabilities |  | 405,662 |  |  | 319,801 |
Total liabilities |  | $ | 539,332 |  |  | $ | 458,275 |
|  | Year Ended December 31,
|  | 2017 |  | 2016 |  | 2015
Summary of Statements of Income Information: |  |  |  |  |  |
Net sales |  | $ | 687,561 |  |  | $ | 590,980 |  |  | $ | 560,376 |
Gross profit |  | $ | 353,577 |  |  | $ | 267,241 |  |  | $ | 253,569 |
Income before income taxes |  | $ | 267,805 |  |  | $ | 189,016 |  |  | $ | 157,501 |
Net income |  | $ | 184,777 |  |  | $ | 126,872 |  |  | $ | 111,491 |

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