|12 Months Ended|
Dec. 31, 2019
|Equity Method Investments and Joint Ventures [Abstract]|
Investments accounted for under the equity method of accounting consisted of the following as of December 31, 2019 and 2018:
Our share of undistributed earnings of investments in which our ownership interest is less than 50% was $39.4 million and $48.2 million as of December 31, 2019 and 2018, respectively. We also have an investment in Peregrine of $3.3 million as of December 31, 2019 and 2018, which is accounted for in accordance with the cost method of accounting. Please refer to Note 25—Variable interest entities for further details.
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