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Long-term investments | 6 Months Ended
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Jun. 30, 2023
Disclosure Long Term Investments And Notes Receivable [Abstract] |
Long-term investments | Long-term investments Long-term investments consist of the following:
| June 30, |  | December 31,
| 2023 |  | 2022
Long-term investments carried at fair value |  |  |
Atlantica | $ | 1,147,691 |  |  | $ | 1,268,140 |
Atlantica Yield Energy Solutions Canada Inc. | 64,228 |  |  | 74,083 |
Other | 1,799 |  |  | 1,984 |
| $ | 1,213,718 |  |  | $ | 1,344,207 |
Other long-term investments |  |  |
Equity-method investees (a) | $ | 388,516 |  |  | $ | 381,802 |
Development loans receivable from equity-method investees (a) | 91,044 |  |  | 52,923 |
Other | 27,485 |  |  | 27,600 |
| $ | 507,045 |  |  | $ | 462,325 |
Income (loss) from long-term investments for the three and six months ended June 30 is as follows:
| Three months ended June 30 |  | Six months ended June 30
| 2023 |  | 2022 |  | 2023 |  | 2022
Fair value gain (loss) on investments carried at fair value |  |  |  |  |  |
Atlantica | $ | (299,653) |  |  | $ | (137,586) |  |  | $ | (120,449) |  |  | $ | (171,370) |
Atlantica Yield Energy Solutions Canada Inc. | (11,763) |  |  | $ | (5,815) |  |  | (11,567) |  |  | (12,395) |
Other | 6 |  |  | $ | (121) |  |  | (10) |  |  | (264) |
| $ | (311,410) |  |  | $ | (143,522) |  |  | $ | (132,026) |  |  | $ | (184,029) |
Dividend and interest income from investments carried at fair value |  |  |  |  |  |
Atlantica | $ | 21,788 |  |  | $ | 21,543 |  |  | $ | 43,577 |  |  | $ | 43,087 |
Atlantica Yield Energy Solutions Canada Inc. | 4,821 |  |  | 5,397 |  |  | 10,678 |  |  | 12,691 |
Other | 7 |  |  | 12 |  |  | 17 |  |  | 10 |
| $ | 26,616 |  |  | $ | 26,952 |  |  | $ | 54,272 |  |  | $ | 55,788 |
Other long-term investments |  |  |  |  |  |  |
Equity method loss | (2,434) |  |  | (2,918) |  |  | (153) |  |  | (7,449) |
Interest and other income | 9,532 |  |  | 6,108 |  |  | 20,223 |  |  | 11,621 |
| $ | 7,098 |  |  | $ | 3,190 |  |  | $ | 20,070 |  |  | $ | 4,172 |
Loss from long-term investments | $ | (277,696) |  |  | $ | (113,380) |  |  | $ | (57,684) |  |  | $ | (124,069) |
(a)Equity-method investees and development loans receivable from equity investees The Renewable Energy Group has non-controlling interests in operating renewable energy facilities and projects under construction. The Regulated Services Group has non-controlling interest in a power transmission line project under construction and other non-regulated operating entities owned by its utilities. The Liberty Development JV Inc. platform for non-regulated renewable energy, water and other sectors is reported under Corporate. In total, the Company has non-controlling interests in various corporations, partnerships and joint ventures with a total carrying value of $388,516 (December 31, 2022 - $381,802), including investments in variable interest entities ("VIEs") of $121,176 (December 31, 2022 - $122,752). 6.Long-term investments (continued) (a)Equity-method investees and development loans receivable from equity investees (continued) During t he six months ended June 30, 2023, t he Company made capital contributi ons of $10,390 to the Texas Coastal Wind Facilities (Stella, Cranell, East Raymond and West Raymond) and $9,823 to p rojects under construction. Summarized combined information for AQN's investments in partnerships and joint ventures is as follows:
| June 30, |  | December 31,
| 2023 |  | 2022
Total assets | $ | 2,749,895 |  |  | $ | 2,740,132 |
Total liabilities | 1,522,656 |  |  | 1,507,079 |
Net assets | $ | 1,227,239 |  |  | $ | 1,233,053 |
AQN's ownership interest in the entities | 331,600 |  |  | 332,663 |
Difference between investment carrying amount and underlying equity in net assets(a) | 56,916 |  |  | 49,139 |
AQN's investment carrying amount for the entities | $ | 388,516 |  |  | $ | 381,802 |
(a) The difference between the investment carrying amount and the underlying equity in net assets relates primarily to development fees, interest capitalized while the projects are under construction, the fair value of guarantees provided by the Company in regards to the investments and transaction costs. Summarized combined information for AQN's equity method investees (presented at 100%) is as follows:
| Six months ended June 30
| 2023 |  | 2022
Revenue | $ | 49,467 |  |  | $ | 20,455 |
Net income (loss) | $ | 1,836 |  |  | $ | (30,246) |
Other comprehensive loss (a) | $ | (2,807) |  |  | $ | (125,811) |
Net loss attributable to AQN | $ | (153) |  |  | $ | (7,449) |
Other comprehensive loss attributable to AQN (a) | $ | (2,076) |  |  | $ | (67,352) |
(a) Other comprehensive loss represents the Company’s proportion of the change in fair value, recorded in OCI at the investee level, on energy derivative financial instruments designated as a cash flow hedge. 6.Long-term investments (continued) (a)Equity-method investees and development loans receivable from equity investees (continued) Except for Liberty Development Energy Solutions B.V. (“Liberty Development Energy Solutions”), the development projects are considered VIEs due to the level of equity at risk and the disproportionate voting and economic interests of the shareholders. The Company has committed loan and credit support facilities with some of its equity investees. During construction, the Company has agreed to provide cash advances and credit support for the continued development and construction of the equity investees' projects. As of June 30, 2023, t he Company had issued letters of credit and guarantees of performance obligations under: a security of performance for a development opportunity; wind turbine and solar panel supply agreements; interconnection agreements; engineering, procurement and construction agreements; energy purchase agreements; and construction loan agreements. The fair value of the support provided to all equity-investees a s of June 30, 2023 amount s to $9,129 (December 31, 2022 - $8,824). Summarized combined information for AQN's VIEs is as follows:
| June 30, |  | December 31,
| 2023 |  | 2022
AQN's maximum exposure in regards to VIEs |  |  |
Carrying amount | $ | 121,176 |  |  | $ | 122,752 |
Development loans receivable | 91,044 |  |  | 52,923 |
Performance guarantees and other commitments on behalf of VIEs | 674,874 |  |  | 658,224 |
| $ | 887,094 |  |  | $ | 833,899 |
The commi tments are presented on a gross basis assuming no recoverable value in the assets of the VIEs. In addition, as of June 30, 2023, the Company had issued $798,717 in letters of credit and guarantees of performance obligations under energy purchase agreements and decommissioning obligations on behalf of operating equity-method investees that are not considered VIEs.

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