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):
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):
The carrying values of the Company’s equity interests in WMS and Santander were as follows (in thousands):
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.
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.
Reference 1: http://www.xbrl.org/2003/role/disclosureRef