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.

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. In addition to our equity ownership in 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 and six months ended June 30, 2014, we received throughput revenue of $0.8 million and $1.3 million, respectively. We recorded a $0.2 million and $0.3 million trade accounts receivable from Double Eagle at December 31, 2013 and June 30, 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 the third quarter of 2014. We receive construction management fees from BridgeTex, which we report as affiliate management fee revenue on our consolidated statements of income.

We received $4.8 million from BridgeTex in 2013 as a deposit for the purchase of emission reduction credits, which were necessary for the operation of BridgeTex's tanks in East Houston, Texas. In second quarter 2014, we transferred these emission reduction credits to BridgeTex and recorded $2.4 million as a reduction of operating expense. We recorded the remaining $2.4 million as an adjustment to our investment in BridgeTex, which will be amortized to earnings of non-controlled entities over the weighted average depreciable lives of the BridgeTex assets.

Also during 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 to earnings of non-controlled entities 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	281,803			4,142			285,945
Other adjustment to investment	—			(650		)	(650		)
Earnings (losses) of non-controlled entities:
Proportionate share of earnings (loss)	(140		)	2,936			2,796
Amortization of excess investment and capitalized interest	—			(375		)	(375		)
Earnings (losses) of non-controlled entities	(140		)	2,561			2,421
Less:
Distributions of earnings from investments in non-controlled entities	—			1,713			1,713
Distributions in excess of earnings of non-controlled entities	—			1,765			1,765
Investment at June 30, 2014	$	528,538		$	116,552		$	645,090

Summarized financial information of our non-controlled entities as of and for the six months ended June 30, 2014 follows (in thousands):



	BridgeTex			All Others		Consolidated
Current assets	$	60,296		$	20,128	$	80,424
Noncurrent assets	907,337			184,876		1,092,213
Total assets	$	967,633		$	205,004	$	1,172,637
Current liabilities	107,742			6,410		114,152
Noncurrent liabilities	—			98		98
Total liabilities	$	107,742		$	6,508	$	114,250
Equity	$	859,891		$	198,496	$	1,058,387

Revenue	$	—		$	18,464	$	18,464
Net income (loss)	$	(280	)	$	5,871	$	5,591