Quarterly report pursuant to Section 13 or 15(d)

Equity Method Investments

v3.20.2
Equity Method Investments
6 Months Ended
Jun. 30, 2020
Equity Method Investments and Joint Ventures [Abstract]  
Equity Method Investments Equity Method Investments
The following is the summarized balance sheet information for the Company’s interests in the WMS and Santander joint ventures. These equity method investments on an aggregated basis (in thousands):
June 30, 2020 December 31, 2019
Current assets $ 30,676    $ 50,588   
Non-current assets 26,131    25,370   
Current liabilities 6,779    26,593   
Non-current liabilities 9,670    2,207   

The following is the summarized results of operations information for these equity method investments on an aggregated basis for the three and six months ended 2020 and 2019 (in thousands): 
Three Months Ended June 30, Six Months Ended June 30,
2020 2019 2020 2019
Revenue $ 4,271    $ 37,548    $ 35,148    $ 69,589   
Net income (loss) (1,326)   8,077    5,762    14,842   

The carrying values of the Company’s equity interests in WMS and Santander were as follows (in thousands):
June 30, 2020 December 31, 2019
Carrying value in our equity method investments $ 62,284    $ 78,886   

As of June 30, 2020, there was an aggregate difference of $40.0 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 at the time of the EMC Acquisition in total was 14.9 years.