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Equity Method Investments (Tables) | 6 Months Ended
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Jun. 30, 2023
Equity Method Investments and Joint Ventures [Abstract] |
Equity Method Investments | Summarized financial information for Red River on a 100% basis is shown below (in thousands):
| As of June 30, 2023 |  | As of December 31, 2022
Current Assets | $ | 29,766 |  |  | $ | 33,365 |
Non-current Assets | $ | 390,251 |  |  | $ | 394,267 |
Current liabilities | $ | 6,069 |  |  | $ | 5,144 |
| Three Months Ended June 30, |  | Six Months Ended June 30,
| 2023 |  | 2022 |  | 2023 |  | 2022 |  |
Revenues | $ | 18,429 |  |  | $ | 21,449 |  |  | $ | 37,381 |  |  | $ | 44,135 |  |  |
Gross profit | $ | 11,210 |  |  | $ | 13,665 |  |  | $ | 22,697 |  |  | $ | 29,266 |  |  |
Operating income | $ | 12,054 |  |  | $ | 13,493 |  |  | $ | 23,348 |  |  | $ | 28,912 |  |  |
Net income | $ | 12,220 |  |  | $ | 13,481 |  |  | $ | 23,693 |  |  | $ | 28,877 |  |  |
Combined summarized financial information for these two equity method investees on a 100% basis is shown below (in thousands):
| As of June 30, 2023 |  | As of December 31, 2022
Current assets | $ | 21,449 |  |  | $ | 18,888 |
Non-current assets | $ | 226,320 |  |  | $ | 231,898 |
Current liabilities | $ | 2,370 |  |  | $ | 1,973 |
| Three Months Ended June 30, |  | Six Months Ended June 30,
| 2023 |  | 2022 |  | 2023 |  | 2022 |  |
Revenues | $ | 13,025 |  |  | $ | 11,558 |  |  | $ | 25,171 |  |  | $ | 20,453 |  |  |
Gross profit | $ | 8,375 |  |  | $ | 7,220 |  |  | $ | 16,195 |  |  | $ | 11,458 |  |  |
Operating income | $ | 7,278 |  |  | $ | 6,622 |  |  | $ | 13,924 |  |  | $ | 10,190 |  |  |
Net Income | $ | 7,405 |  |  | $ | 6,626 |  |  | $ | 14,151 |  |  | $ | 10,195 |  |  |
The Partnership's investments in these three entities were financed through a combination of cash from operations and borrowings under the DKL Credit Facility. The Partnership's investment balances in these joint ventures were as follows (in thousands):
| As of June 30, 2023 |  | As of December 31, 2022
Red River | $ | 140,940 |  |  | $ | 149,635 |
CP LLC | 60,241 |  |  | 64,056 |
Andeavor Logistics | 41,566 |  |  | 43,331 |
Total Equity Method Investments | $ | 242,747 |  |  | $ | 257,022 |

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- Definition Tabular disclosure of equity method investments including, but not limited to, name of each investee or group of investments, percentage ownership, difference between recorded amount of an investment and the value of the underlying equity in the net assets, and summarized financial information. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 323 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org//1943274/2147481687/323-10-50-3 + Details
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