Investments in Non-Controlled Entities

We own a 50% interest in Texas Frontera, LLC ("Texas Frontera"), which owns approximately one million barrels of refined products storage at our Galena Park, Texas terminal. The storage capacity owned by this joint venture is leased to an affiliate of Texas Frontera under a long-term lease agreement. We receive management fees from Texas Frontera, which we report as affiliate management fee revenue on our consolidated statements of income.

We own a 50% interest in Osage Pipe Line Company, LLC ("Osage"), which owns a 135-mile crude oil pipeline in Oklahoma and Kansas that we operate. We receive management fees from Osage, which we report as affiliate management fee revenue on our consolidated statements of income. Our initial investment in Osage included an excess net investment amount of $21.7 million. Excess investment is the amount by which our initial investment exceeded our proportionate share of the book value of the net assets of the investment. The unamortized excess net investment amount at March 31, 2014 was $15.0 million.

We own a 50% interest in Double Eagle Pipeline LLC ("Double Eagle") which transports condensate from the Eagle Ford shale formation in South Texas via a 195-mile pipeline to our terminal in Corpus Christi, Texas. Double Eagle is operated by an affiliate of the other 50% member of Double Eagle. We receive throughput revenue from Double Eagle that is included in our transportation and terminals revenue on our consolidated statements of income. For the three months ended March 31, 2014, we received throughput revenue of $0.5 million. We recorded a $0.2 million and $0.3 million trade accounts receivable from Double Eagle at December 31, 2013 and March 31, 2014, respectively.

We own a 50% interest in BridgeTex Pipeline Company, LLC ("BridgeTex"), which is in the process of constructing a 450-mile pipeline with related infrastructure to transport crude oil from Colorado City, Texas for delivery to Houston and Texas City, Texas refineries. This pipeline is expected to begin service in mid-2014. We receive construction management fees from BridgeTex, which we report as affiliate management fee revenue on our consolidated statements of income.

During 2013, we received $4.8 million from BridgeTex as a deposit for the purchase of emission reduction credits, which, pending governmental approval, we expect to transfer to BridgeTex during the second quarter of 2014. Also in 2013, we received $1.4 million from BridgeTex for the purchase of easement rights from us, of which $0.7 million was recorded as a reduction of operating expense and $0.7 million was recorded as an adjustment to our investment in BridgeTex, which will be amortized as a reduction of operating expense over the weighted average depreciable lives of the BridgeTex assets.

The operating results from Texas Frontera are included in our marine storage segment and the operating results from Osage, Double Eagle and BridgeTex are included in our crude oil segment as earnings of non-controlled entities.

A summary of our investments in non-controlled entities follows (in thousands):



	BridgeTex			All Others			Consolidated
Investment at December 31, 2013	$	246,875		$	113,977		$	360,852
Additional investment	126,748			950			127,698
Other adjustment to investment	—			(650		)	(650		)
Earnings (losses) of non-controlled entities:
Proportionate share of earnings (loss)	(20		)	674			654
Amortization of excess investment and capitalized interest	—			(188		)	(188		)
Earnings (losses) of non-controlled entities	(20		)	486			466
Less:
Distributions of earnings from investments in non-controlled entities	—			384			384
Distributions in excess of earnings of non-controlled entities	—			687			687
Investment at March 31, 2014	$	373,603		$	113,692		$	487,295

Summarized financial information of our non-controlled entities as of and for the three months ended March 31, 2014 follows (in thousands):



	BridgeTex			All Others		Consolidated
Current assets	$	78,654		$	19,204	$	97,858
Noncurrent assets	634,188			176,514		810,702
Total assets	$	712,842		$	195,718	$	908,560
Current liabilities	101,712			3,224		104,936
Noncurrent liabilities	—			96		96
Total liabilities	$	101,712		$	3,320	$	105,032
Equity	$	611,130		$	192,398	$	803,528

Revenue	$	—		$	6,755	$	6,755
Net income (loss)	$	(40	)	$	1,347	$	1,307