Ameresco, Inc. Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Investment Funds and Equity Method Investments (Tables)

Investment Funds and Equity Method Investments (Tables)

9 Months Ended

Sep. 30, 2021

Organization, Consolidation and Presentation of Financial Statements [Abstract]

The table below presents a summary of amounts related to our investment funds, which we determined meet the definition of a variable interest entity (“VIE”) as of:


	September 30,		December 31,
	2021 (1)		2020 (1)
Cash and cash equivalents	$	5,088	$	5,828
Restricted cash	—		3,185
Accounts receivable, net	862		834
Costs and estimated earnings in excess of billings	1,952		968
Prepaid expenses and other current assets	19		120
Total VIE current assets	7,921		10,935
Property and equipment, net	1,266		1,266
Energy assets, net	110,153		143,133
Operating lease assets	6,318		6,439
Restricted cash, net of current portion	400		331
Other assets	30		94
Total VIE assets	$	126,088	$	162,198
Current portions of long-term debt and financing lease liabilities	$	2,224	$	2,230
Accounts payable	100		311
Accrued expenses and other current liabilities	481		1,092
Current portions of operating lease liabilities	137		125
Total VIE current liabilities	2,942		3,758
Long-term debt and financing lease liabilities, net of current portion, unamortized discount and debt issuance costs	21,749		22,822
Long-term operating lease liabilities, net of current portion	6,178		6,220
Other liabilities	355		535
Total VIE liabilities	$	31,224	$	33,335

(1) The amounts in the above table are reflected in Note 1 on our condensed consolidated balance sheets.

Schedule of Equity Method Investments

The following table provides information about our equity method investments in joint ventures:


					As of
					September 30, 2021		December 31, 2020
Equity method investments					$	1,065	$	1,189

	Three Months Ended September 30,				Nine Months Ended September 30,
	September 30, 2021		September 30, 2020		September 30, 2021		September 30, 2020
Expense recognized	$	25	$	50	$	128	$	127

- Definition

Tabular disclosure of the significant judgments and assumptions made in determining whether a variable interest (as defined) held by the entity requires the variable interest entity (VIE) (as defined) to be consolidated and (or) disclose information about its involvement with the VIE, individually or in aggregate (as applicable); the nature of restrictions, if any, on the consolidated VIE's assets and on the settlement of its liabilities reported by an entity in its statement of financial position, including the carrying amounts of such assets and liabilities; the nature of, and changes in, the risks associated with involvement in the VIE; how involvement with the VIE affects the entity's financial position, financial performance, and cash flows; the lack of recourse if creditors (or beneficial interest holders) of the consolidated VIE have no recourse to the general credit of the primary beneficiary (if applicable); the terms of arrangements, giving consideration to both explicit arrangements and implicit variable interests, if any, that could require the entity to provide financial support to the VIE, including events or circumstances that could expose the entity to a loss; the methodology used by the entity for determining whether or not it is the primary beneficiary of the variable interest entity; the significant factors considered and judgments made in determining that the power to direct the activities of a VIE that most significantly impact the VIE's economic performance are shared (as defined); the carrying amounts and classification of assets and liabilities of the VIE included in the statement of financial position; the entity's maximum exposure to loss, if any, as a result of its involvement with the VIE, including how the maximum exposure is determined and significant sources of the entity's exposure to the VIE; a comparison of the carrying amounts of the assets and liabilities and the entity's maximum exposure to loss; information about any liquidity arrangements, guarantees, and (or) other commitments by third parties that may affect the fair value or risk of the entity's variable interest in the VIE; whether or not the entity has provided financial support or other support (explicitly or implicitly) to the VIE that it was not previously contractually required to provide or whether the entity intends to provide that support, including the type and amount of the support and the primary reasons for providing the support; and supplemental information the entity determines necessary to provide.

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