| | December 31, | | ||||
| | 2017 | | 2016 | | ||
| | (in thousands) | | ||||
Associates | | $ | 5,286,487 | | | 4,853,325 | |
Joint ventures | | | 310,800 | | | 325,012 | |
| | $ | 5,597,287 | | | 5,178,337 | |