Unconsolidated Investments
 6 Months Ended
Jun. 30, 2018
Equity Method Investments and Joint Ventures [Abstract]  
Unconsolidated Investments
Unconsolidated Investments
The Company's unconsolidated investments consist of the following for the periods presented below (in thousands):
 
 
 
 
 
Percentage of Ownership
 
June 30,
 
December 31,
 
June 30,
 
December 31,
 
2018
 
2017
 
2018
 
2017
South Kent
$
9,538

 
$
6,151

 
50.0
%
 
50.0
%
Grand
7,655

 
6,611

 
45.0
%
 
45.0
%
K2
94,894

 
103,328

 
33.3
%
 
33.3
%
Armow
123,479

 
132,890

 
50.0
%
 
50.0
%
Pattern Development 2.0
107,946


62,243

 
24.0
%

20.9
%
Unconsolidated investments
$
343,512

 
$
311,223

 
 
 
 

Pattern Development 2.0
During the six months ended June 30, 2018, the Company has funded $57.1 million into Pattern Development 2.0 of which approximately $27.0 million was used by Pattern Development 2.0 to fund the purchase of GPI. As of June 30, 2018, the Company has funded $124.4 million in aggregate and holds an approximately 24% ownership interest in Pattern Development 2.0.
Basis Amortization of Unconsolidated Investments
The cost of the Company’s investment in the net assets of unconsolidated investments was higher than the fair value of the Company’s equity interest in the underlying net assets of its unconsolidated investments. The basis differences were primarily attributable to property, plant and equipment, PPAs, and equity method goodwill. The Company amortizes the basis difference attributable to property, plant and equipment, and PPAs over their useful life and contractual life, respectively. The Company does not amortize equity method goodwill. For the three and six months ended June 30, 2018, the Company recorded basis difference amortization for its unconsolidated investments of $2.7 million and $5.4 million, respectively, and for the same periods in 2017, the Company recorded basis difference amortization of $2.8 million and $5.6 million, respectively, in earnings in unconsolidated investments, net on the consolidated statements of operations.
Significant Equity Method Investees
The following table presents summarized statements of operations information for the three and six months ended June 30, 2018 and 2017 as required for the Company's significant equity method investees, South Kent, Grand, K2, Armow and Pattern Development 2.0 pursuant to Regulation S-X Rule 10-01(b)(1) (in thousands):
 
Three months ended June 30,
 
Six months ended June 30,
 
2018
 
2017(1)
 
2018
 
2017(1)
Revenue
$
70,156

 
$
82,744

 
$
179,689

 
$
183,103

Cost of revenue
29,829

 
28,149

 
60,166

 
57,738

Operating expenses
34,589

 
919

 
53,743

 
1,633

Other expense
18,833

 
15,135

 
39,684

 
37,976

Net income (loss)
$
(13,095
)
 
$
38,541

 
$
26,096

 
$
85,756


(1) 
Results for the three and six months ended June 30, 2017 do not include Pattern Development 2.0, which the Company invested in during July 2017.