XML 29 R20.htm IDEA: XBRL DOCUMENT v3.23.3

Variable Interest Entities And Equity Method Investments

9 Months Ended

Sep. 30, 2023

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 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.

See Note 14 for additional information on the call and put options related to our investment funds.

Non-controlling Interests

Non-controlling interests represents the equity owned by the other joint venture members of consolidated joint ventures. During the nine months ended September 30, 2023, joint venture members contributed $957 to joint ventures. One JV member was refunded $20,521, net of adjustments, from debt proceeds received from the JV’s Non-recourse Construction Credit Facility, 6.54%, due July 2024.

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 earnings from unconsolidated entities on the condensed consolidated statements of income.

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

X

- References

No definition available.

+ Details

Name:	us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Definition

The entire disclosure for a variable interest entity (VIE), including but not limited to, judgments and assumptions in determining whether to consolidate and in identifying the primary beneficiary, gain (loss) recognized on the initial consolidation of the VIE, terms of arrangements, amounts and classification of the VIE's assets and liabilities, and the entity's maximum exposure to loss.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 810
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//810/tableOfContent

+ Details

Name:	us-gaap_VariableInterestEntityDisclosureTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration