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Investments (Tables) | 12 Months Ended
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Dec. 31, 2020
Investments [Abstract] |
Investment Balances | The following table details our investment balances at December 31, 2020 and 2019 (in thousands):
|  | December 31,
|  | 2020 |  | 2019
Joint ventures |  | $ | 604,964 |  |  | $ | 534,430 |
Nonmarketable securities |  | 14,171 |  |  | 11,746 |
Marketable equity securities |  | 37,109 |  |  | 33,637 |
Total |  | $ | 656,244 |  |  | $ | 579,813 |
Ownership Positions in Significant Unconsolidated Investments | Our ownership positions in significant unconsolidated investments are shown below:
|  |  | December 31,
|  |  | 2020 |  | 2019 |  | 2018
* |  | 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 | %
* |  | 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 | %
Summary of Assets, Liabilities and Results of Operations for Significant Unconsolidated Joint Ventures | The following summary lists the assets, liabilities and results of operations for our significant unconsolidated joint ventures presented herein (in thousands):
|  | December 31,
|  | 2020 |  | 2019
Summary of Balance Sheet Information: |  |  |  |
Current assets |  | $ | 449,441 |  |  | $ | 473,426 |
Noncurrent assets |  | 1,590,204 |  |  | 1,404,765 |
Total assets |  | $ | 2,039,645 |  |  | $ | 1,878,191 |
Current liabilities |  | $ | 116,136 |  |  | $ | 201,792 |
Noncurrent liabilities |  | 769,114 |  |  | 583,839 |
Total liabilities |  | $ | 885,250 |  |  | $ | 785,631 |
|  | Year Ended December 31,
|  | 2020 |  | 2019 |  | 2018
Summary of Statements of Income Information: |  |  |  |  |  |
Net sales |  | $ | 597,082 |  |  | $ | 910,891 |  |  | $ | 829,590 |
Gross profit |  | $ | 266,026 |  |  | $ | 496,150 |  |  | $ | 456,518 |
Income before income taxes |  | $ | 225,436 |  |  | $ | 384,690 |  |  | $ | 332,632 |
Net income |  | $ | 157,628 |  |  | $ | 229,733 |  |  | $ | 225,791 |

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