Annual report pursuant to Section 13 and 15(d)

Equity Method Investments

v3.8.0.1
Equity Method Investments
12 Months Ended
Dec. 31, 2016
Equity Method Investments and Joint Ventures [Abstract]  
Equity Method Investments
Equity Method Investments

In connection with the EMC Acquisition, the Company acquired 49% interests in WMS and Santander. Following is the summarized financial information for such equity method investments on an aggregated basis from the EMC Acquisition Date through December 31, 2016 (in thousands):

 
December 31, 2016
Current assets
$
30,837

Non-current assets
21,822

Current liabilities
20,455

Non-current liabilities
1,307


 
Year Ended
 
December 31, 2016
Revenue
$
64,637

Operating expenses
51,240

Net income
13,397



As of December 31, 2016, there was an aggregate difference of $141.1 million between the carrying amounts of these investments and the amounts of underlying equity in net assets in these investments. The difference was determined by applying the acquisition method of accounting in connection with the EMC Acquisition and is being amortized ratably over the life of the related acquired intangible assets. The weighted-average life of the intangible assets in total was 14.9 years. There were no equity method investments as of and for the year ended December 31, 2015.