Note 11 — Noncontrolling Interests

We are currently participating in two joint ventures, each of which operates in the Power segment. Both joint ventures have been determined to be a VIE and we were determined to be the primary beneficiary as a result of our significant influence over the joint venture operations.

Each joint venture is a partnership, and consequently, the tax effect of our share of the income was recognized by us. The net assets of the joint ventures are restricted for use by the specific project and are not available for our general operations.

The Carlsbad joint venture operating activities began in 2015 and are included in our Consolidated Statements of Income as follows for the years ended December 31 (in thousands):



	2018		2017		2016
Revenue	$	102,868	$	110,669	$	7,254
Net income attributable to noncontrolling interests		9,483		1,780		325

The Carlsbad joint venture made distributions of $9.0 million to the noncontrolling interest and $9.0 million to us during the year ended December 31, 2018. The Carlsbad joint venture made no distributions to the partners during the year ending December 31, 2017. In addition, we did not make any capital contributions to the Carlsbad joint venture during the years ended December 31, 2018 and 2017. The project was substantially complete as of December 31, 2018.

The carrying value of the assets and liabilities associated with the operations of the Carlsbad joint venture are included in our Consolidated Balance Sheets at December 31 as follows (in thousands):


	December 31,		December 31,
	2018		2017
Cash	$	3,117	$	44,308
Accounts receivable	$	4,451	$	15,343
Contract assets	$	8,158	$	—
Accounts payable	$	2,279	$	12,352
Contract liabilities	$	5,946	$	42,743
Due to Primoris	$	1,979	$	—

The Wilmington joint venture operating activities began in 2015 and are included in our Consolidated Statements of Income as follows for the years ended December 31 (in thousands):


	2018		2017		2016
Revenue	$	2,133	$	31,638	$	19,781
Net income attributable to noncontrolling interests		649		2,716		677

The Wilmington joint venture made distributions of $4.1 million to the noncontrolling interest and $4.1 million to us during the year ended December 31, 2018. No distributions were made during the year ended December 31, 2017. In addition, we did not make any capital contributions to the Wilmington joint venture during the years ended December 31, 2018 and 2017. The project is complete, the warranty period expired in October 2018, and dissolution of the joint venture is expected to occur in 2019.

The carrying value of the assets and liabilities associated with the operations of the Wilmington joint venture are included in our Consolidated Balance Sheets at December 31 as follows (in thousands):


	December 31,		December 31,
	2018		2017
Cash	$	10	$	15,948
Accounts receivable	$	—	$	598
Accounts payable	$	—	$	759
Contract liabilities	$	—	$	1,480
Due to Primoris	$	—	$	7,428

The following table summarizes the total balance sheet amounts for the two joint ventures, which are included in our Consolidated Balance Sheets( in thousands):


	Joint Venture		Consolidated
At December 31, 2018	Amounts		Amounts
Cash	$	3,127	$	151,063
Accounts receivable	$	4,451	$	372,695
Contract assets	$	8,158	$	364,245
Accounts payable	$	2,279	$	249,217
Contract liabilities	$	5,946	$	189,539

At December 31, 2017
Cash	$	60,256	$	170,385
Accounts receivable	$	15,941	$	291,589
Accounts payable	$	13,111	$	140,943
Contract liabilities	$	44,223	$	169,377