Equity Method Investments

In March 2015, we entered into two joint ventures that have constructed separate crude oil pipeline systems and related ancillary assets, which are serving third parties and subsidiaries of Delek. We own a 50% membership interest in the entity formed with an affiliate of Plains All American Pipeline, L.P. ("CP LLC") to operate one of these pipeline systems and a 33% membership interest in the entity formed with Rangeland Energy II, LLC ("Rangeland RIO") to operate the other pipeline system. The pipeline system constructed by Rangeland RIO was completed and began operations in September 2016. The pipeline system constructed by CP LLC was completed and began operations in January 2017.

The Partnership's investments in these two entities were financed through a combination of cash from operations and borrowings under the Second Amended and Restated Credit Agreement. As of December 31, 2017, the Partnership's investment balance in these joint ventures was $106.5 million.

We do not consolidate any part of the assets or liabilities or operating results of our equity method investees. Our share of net income or loss of the investees will increase or decrease, as applicable, the carrying value of our investments in unconsolidated affiliates. With respect to CP LLC and Rangeland RIO, we determined that these entities do not represent variable interest entities and consolidation was not required. We have the ability to exercise significant influence over each of these joint ventures through our participation in the management committees, which make all significant decisions. However, since all significant decisions require the consent of the other investor(s) without regard to economic interest, we have determined that we have joint control and have applied the equity method of accounting. Our investment in these joint ventures is reflected in our pipelines and transportation segment.

Summarized Financial Information

Combined summarized financial information for our equity method investees is shown below (in thousands):



	Year Ended		Year Ended
	December 31, 2017		December 31, 2016
Current assets	$	12,671	$	7,760
Non-current assets	$	244,329	$	237,516
Current liabilities	$	1,798	$	4,512



	Year Ended		Year Ended			Year Ended
	December 31, 2017		December 31, 2016			December 31, 2015
Revenues	$	28,805	$	2,217		$	—
Gross profit	$	28,805	$	2,217		$	—
Net Income/loss	$	10,714	$	(3,641	)	$	(1,967	)