Quarterly report pursuant to Section 13 or 15(d)

Variable Interest Entities And Equity Method Investments

v3.22.1
Variable Interest Entities And Equity Method Investments
 3 Months Ended
Mar. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Variable Interest Entities And Equity Method Investments VARIABLE INTEREST ENTITIES AND EQUITY METHOD INVESTMENTS
Variable Interest Entities
The table below presents a summary of amounts related to our consolidated investment funds and joint venture, which we determined meet the definition of a variable interest entity (“VIE”), as of:
March 31, December 31,
2022 (1)
2021 (1)
Cash and cash equivalents $ 5,434  $ 4,915 
Restricted cash 776  822 
Accounts receivable, net 790  656 
Costs and estimated earnings in excess of billings 1,884  1,421 
Prepaid expenses and other current assets 159  151 
Total VIE current assets 9,043  7,965 
Property and equipment, net 1,266  1,266 
Energy assets, net 119,310  108,498 
Operating lease assets 6,225  6,271 
Restricted cash, net of current portion 435  418 
Other assets 36  36 
Total VIE assets $ 136,315  $ 124,454 
Current portions of long-term debt and financing lease liabilities $ 2,196  $ 2,210 
Accounts payable 94  47 
Accrued expenses and other current liabilities 548  643 
Current portions of operating lease liabilities 147  142 
Total VIE current liabilities 2,985  3,042 
Long-term debt and financing lease liabilities, net of current portion, unamortized discount and debt issuance costs 20,499  20,952 
Long-term operating lease liabilities, net of current portion 6,630  6,558 
Other liabilities 676  573 
Total VIE liabilities $ 30,790  $ 31,125 
(1) The amounts in the above table are reflected in Note 1 on our condensed consolidated balance sheets.
See Note 13 for additional information on the call and put options related to our investment funds.
Non-controlling Interest
Non-controlling interest represents the equity owned by the other joint venture member of a consolidated joint venture. During the three months ended March 31, 2022, the other joint venture member contributed $6,335 to this joint venture which was formed for a specific project. The project did not generate any earnings or losses during the three months ended March 31, 2022.
Equity Method Investments
Unconsolidated joint ventures are accounted for under the equity method. For these unconsolidated joint ventures, our investment balances are included in other assets on the condensed consolidated balance sheets and our pro rata share of net income or loss is included in operating income.

The following table provides information about our equity method investments in joint ventures:
As of
March 31, 2022 December 31, 2021
Equity method investments $ 9,839  $ 9,206 
Three Months Ended March 31,
March 31, 2022 March 31, 2021
Earnings (loss) recognized $ 637  $ (62)