VARIABLE INTEREST ENTITIES |
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VARIABLE INTEREST ENTITIES |
6. VARIABLE INTEREST ENTITIES
We evaluate our investments and transactions to identify variable interest entities for which we are the primary beneficiary. We hold a variable interest in the following joint ventures for which we are the primary beneficiary:
During the first quarter of 2020, there were no changes in our variable interest entities.
Sasol-乐天堂fun88(中国区)官方网站 was our 50%-owned joint venture with Sasol that owned and operated a maleic anhydride facility in Moers, Germany. On September 30, 2019, we acquired the 50% noncontrolling interest that we did not own in Sasol-乐天堂fun88(中国区)官方网站. As such, as of September 30, 2019, Sasol-乐天堂fun88(中国区)官方网站 was no longer accounted for as a variable interest entity.
Creditors of these entities have no recourse to our general credit. See 鈥淣ote 7. Debt鈥擠irect and Subsidiary Debt.鈥� As the primary beneficiary of these variable interest entities at March 31, 2020, the joint ventures鈥� assets, liabilities and results of operations are included in our condensed consolidated financial statements.
The following table summarizes the carrying amount of our variable interest entities鈥� assets and liabilities included in our condensed consolidated balance sheet as of March 31, 2020 and our consolidated balance sheet as of December 31, 2019 (dollars in millions):
The revenues, income from continuing operations before income taxes and net cash provided by operating activities for our variable interest entities for the three months ended March 31, 2020 and 2019 are as follows (dollars in millions):
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