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

Quarterly report pursuant to Section 13 or 15(d)

Variable Interest Entities And Equity Method Investments (Tables)

Variable Interest Entities And Equity Method Investments (Tables)

9 Months Ended

Sep. 30, 2023

Organization, Consolidation and Presentation of Financial Statements [Abstract]

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


	September 30,		December 31,
	2023 (1)		2022 (1)
Cash and cash equivalents	$	8,676	$	10,107
Restricted cash	—		799
Accounts receivable, net	—		590
Costs and estimated earnings in excess of billings	19,754		952
Prepaid expenses and other current assets	3,013		14,322
Total VIE current assets	31,443		26,770
Property and equipment, net	275		89
Energy assets, net	238,425		182,050
Operating lease assets	17,577		4,901
Restricted cash, non-current portion	73		73
Other assets	16,841		30
Total VIE assets	$	304,634	$	213,913
Current portions of long-term debt and financing lease liabilities	$	122,524	$	2,087
Accounts payable	7,966		8,055
Accrued expenses and other current liabilities	13,173		12,559
Current portions of operating lease liabilities	6,658		117
Total VIE current liabilities	150,321		22,818
Long-term debt and financing lease liabilities, net of current portion, unamortized discount and debt issuance costs	17,970		19,177
Long-term operating lease liabilities, net of current portion	9,961		5,159
Other liabilities	1,833		3,575
Total VIE liabilities	$	180,085	$	50,729

(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, 2023		December 31, 2022
Equity method investments	$	16,204	$	10,855

- 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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