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Equity Investees | 12 Months Ended
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Dec. 31, 2018
Equity Method Investments and Joint Ventures [Abstract] |
Equity Investees | Equity Investees We account for our ownership in our joint ventures under the equity method of accounting (see Note 2 for a description of these investments). The price we pay to acquire an ownership interest in a company may exceed or be less than the underlying book value of the capital accounts we acquire. At December 31, 2018 and 2017, the unamortized differences in carrying value totaled $366.4 million and $382.4 million, respectively. We amortize the differences in carrying value as a change in equity earnings. In the first quarter of 2016, we purchased the remaining 50% interest in Deepwater Gateway, LLC for approximately $26.0 million (including adjustments for working capital), increasing our ownership interest to 100%. Consequently, we now consolidate Deepwater Gateway, LLC instead of accounting for our interest under the equity method. The following table presents information included in our Consolidated Financial Statements related to our equity investees.
| Year Ended December 31,
| 2018 |  | 2017 |  | 2016
Genesis’ share of operating earnings | $ | 59,255 |  |  | $ | 66,814 |  |  | $ | 63,805 |
Amortization of differences attributable to Genesis' carrying value of equity investments | (15,629 | ) |  | (15,768 | ) |  | (15,861 | )
Net equity in earnings | $ | 43,626 |  |  | $ | 51,046 |  |  | $ | 47,944 |
Distributions received | $ | 71,714 |  |  | $ | 82,898 |  |  | $ | 87,220 |
The following tables present the combined balance sheet information for the last two years and income statement data for the last three years for our equity investees (on a 100% basis) including the effects of the change in our ownership interest due to the Deepwater acquisition as previously discussed:
| December 31,
| 2018 |  | 2017
BALANCE SHEET DATA: |  |  |
Assets |  |  |
Current assets | $ | 34,005 |  |  | $ | 34,381 |
Fixed assets, net | 346,864 |  |  | 362,214 |
Other assets | 15,469 |  |  | 14,927 |
Total assets | $ | 396,338 |  |  | $ | 411,522 |
Liabilities and equity |  |  |
Current liabilities | $ | 18,897 |  |  | $ | 23,289 |
Other liabilities | 250,742 |  |  | 249,610 |
Equity | 126,699 |  |  | 138,623 |
Total liabilities and equity | $ | 396,338 |  |  | $ | 411,522 |
| Year Ended December 31,
| 2018 |  | 2017 |  | 2016
INCOME STATEMENT DATA: |  |  |  |  |
Revenues | $ | 180,056 |  |  | $ | 191,078 |  |  | $ | 193,038 |
Operating Income | $ | 129,160 |  |  | $ | 139,604 |  |  | $ | 122,836 |
Net Income | $ | 115,669 |  |  | $ | 134,479 |  |  | $ | 118,175 |
Poseidon's revolving credit facility Borrowings under Poseidon’s revolving credit facilities, which was amended and restated in February 2015, are primarily used to fund spending on capital projects. The February 2015 credit facility is non-recourse to Poseidon’s owners and secured by its assets. The February 2015 credit facility contains customary covenants such as restrictions on debt levels, liens, guarantees, mergers, sale of assets and distributions to owners. A breach of any of these covenants could result in acceleration of the maturity date of Poseidon’s debt. Poseidon was in compliance with the terms of its credit agreement for all periods presented in these consolidated financial statements.

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- References No definition available. + Details
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- Definition The entire disclosure for equity method investments and joint ventures. Equity method investments are investments that give the investor the ability to exercise significant influence over the operating and financial policies of an investee. Joint ventures are entities owned and operated by a small group of businesses as a separate and specific business or project for the mutual benefit of the members of the group. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 323 -URI http://asc.fasb.org/topic&trid=2196965 + Details
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