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Equity Investees | 3 Months Ended
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Mar. 31, 2012
Equity Investees [Abstract] |
Equity Investees | 6. Equity Investees We account for our ownership in our joint ventures under the equity method of accounting. The price we pay to acquire an ownership interest in a company may exceed the underlying book value of the capital accounts we acquire. Such excess cost amounts are included within the carrying values of our equity investees. At March 31, 2012 and December 31, 2011, the unamortized excess cost amounts totaled $241.7 million and $97.8 million, respectively. We amortize the excess cost as a reduction in equity earnings in a manner similar to depreciation. The table below reflects information included in our Unaudited Condensed Consolidated Financial Statements related to our equity investees.
|  | Three Months Ended March 31, |
|  | 2012 |  |  | 2011 |
Genesis' share of operating earnings |  | $ | 6,038 |  |  | $ | 4,339 |
Amortization of excess purchase price |  |  | (2,546 | ) |  |  | (1,142 | )
Net equity in earnings |  | $ | 3,492 |  |  | $ | 3,197 |
Distributions received |  | $ | 10,225 |  |  | $ | 6,500 |
The combined balance sheet information and results of operations data of our equity investees were as follows:
|  | March 31, 2012 |  |  | December 31, 2011 |
Balance Sheet Data: |  |  |  |  |  |  |  |
Current assets |  | $ | 65,330 |  |  | $ | 12,732 |
Fixed assets, net |  |  | 734,697 |  |  |  | 441,894 |
Other assets |  |  | 16,736 |  |  |  | 18,000 |
Total assets |  | $ | 816,763 |  |  | $ | 472,626 |
Current liabilities |  | $ | 66,967 |  |  | $ | 5,891 |
Other liabilities |  |  | 108,506 |  |  |  | 8,536 |
Equity |  |  | 641,290 |  |  |  | 458,199 |
Total liabilities and combined equity |  | $ | 816,763 |  |  | $ | 472,626 |
|  | Three Months Ended March 31, |
|  | 2012 |  |  | 2011 |
Income Statement Data: |  |  |  |  |  |  |  |
Revenues |  | $ | 37,518 |  |  | $ | 18,247 |
Operating income |  | $ | 19,396 |  |  | $ | 9,017 |
Net income |  | $ | 18,675 |  |  | $ | 8,950 |

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- Definition The entire disclosure for equity investment, or group of investments, for which combined disclosure is appropriate, including: (a) the name of each investee and percentage of ownership of common stock, (b) accounting policies for investments in common stock, (c) difference between the amount at which the investment is carried and the amount of underlying equity in net assets and the accounting treatment of the difference, (d) the total fair value of each identified investment for which a market value is available, (e) summarized information as to assets, liabilities, and results of operations of the investees (for investments in unconsolidated subsidiaries, common stock of joint ventures, or other investments using the equity method), and (f) material effects of possible conversions, exercises, or contingent issuances of the investee. Other disclosures include (a) the names of any investee in which the investor owns 20 percent or more of the voting stock and investment is not accounted for using the equity method, and the reasons why not, and (b) the names of any investee in which the investor owns less than 20 percent of the voting stock and the investment is accounted for using the equity method, and the reasons why it is. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 323 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6382943&loc=d3e33918-111571 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 323 -SubTopic 10 -Section 35 -Paragraph 32 -URI http://asc.fasb.org/extlink&oid=6903645&loc=d3e32787-111569 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Accounting Principles Board Opinion (APB) -Number 18 -Paragraph 20 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.12) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 323 -SubTopic 10 -Section 35 -Paragraph 35 -URI http://asc.fasb.org/extlink&oid=6903645&loc=d3e32847-111569 + Details
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