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Variable Interest Entities And Equity Method Investments | 3 Months Ended
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Mar. 31, 2024
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:
| March 31, 2024 (1) |  | December 31, 2023 (1) |  |  |  |  |  |
| Investment Funds |  | Other VIEs |  | Total VIEs |  | Investment Funds |  | Other VIEs |  | Total VIEs |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents | $ | 1,556 |  |  | $ | 6,529 |  |  | $ | 8,085 |  |  | $ | 5,099 |  |  | $ | 16,780 |  |  | $ | 21,879 |  |  |  |  |  |  |  |  |  |  |
Accounts receivable, net | — |  |  | 4,645 |  |  | 4,645 |  |  | — |  |  | 1,977 |  |  | 1,977 |  |  |  |  |  |  |  |  |  |  |
Costs and estimated earnings in excess of billings | 1,169 |  |  | 14,230 |  |  | 15,399 |  |  | 662 |  |  | 13,409 |  |  | 14,071 |  |  |  |  |  |  |  |  |  |  |
Prepaid expenses and other current assets | 26 |  |  | 3,164 |  |  | 3,190 |  |  | 33 |  |  | 3,749 |  |  | 3,782 |  |  |  |  |  |  |  |  |  |  |
Total VIE current assets | 2,751 |  |  | 28,568 |  |  | 31,319 |  |  | 5,794 |  |  | 35,915 |  |  | 41,709 |  |  |  |  |  |  |  |  |  |  |
Property and equipment, net | — |  |  | — |  |  | — |  |  | — |  |  | 267 |  |  | 267 |  |  |  |  |  |  |  |  |  |  |
Energy assets, net | 77,768 |  |  | 79,394 |  |  | 157,162 |  |  | 79,104 |  |  | 173,808 |  |  | 252,912 |  |  |  |  |  |  |  |  |  |  |
Operating lease assets | 4,708 |  |  | 943 |  |  | 5,651 |  |  | 4,748 |  |  | 12,908 |  |  | 17,656 |  |  |  |  |  |  |  |  |  |  |
Restricted cash, non-current portion | 73 |  |  | — |  |  | 73 |  |  | 73 |  |  | — |  |  | 73 |  |  |  |  |  |  |  |  |  |  |
Other assets | 10 |  |  | 537 |  |  | 547 |  |  | 10 |  |  | 74 |  |  | 84 |  |  |  |  |  |  |  |  |  |  |
Total VIE assets | $ | 85,310 |  |  | $ | 109,442 |  |  | $ | 194,752 |  |  | $ | 89,729 |  |  | $ | 222,972 |  |  | $ | 312,701 |  |  |  |  |  |  |  |  |  |  |
Current portions of long-term debt and financing lease liabilities | $ | 2,180 |  |  | $ | — |  |  | $ | 2,180 |  |  | $ | 2,190 |  |  | $ | 132,427 |  |  | $ | 134,617 |  |  |  |  |  |  |  |  |  |  |
Accounts payable | 1,406 |  |  | 13,940 |  |  | 15,346 |  |  | 1,440 |  |  | 6,490 |  |  | 7,930 |  |  |  |  |  |  |  |  |  |  |
Accrued expenses and other current liabilities | 223 |  |  | 4,908 |  |  | 5,131 |  |  | 241 |  |  | 22,780 |  |  | 23,021 |  |  |  |  |  |  |  |  |  |  |
Current portions of operating lease liabilities | 138 |  |  | 95 |  |  | 233 |  |  | 133 |  |  | 6,953 |  |  | 7,086 |  |  |  |  |  |  |  |  |  |  |
Total VIE current liabilities | 3,947 |  |  | 18,943 |  |  | 22,890 |  |  | 4,004 |  |  | 168,650 |  |  | 172,654 |  |  |  |  |  |  |  |  |  |  |
Long-term debt and financing lease liabilities, net of current portion, unamortized discount and debt issuance costs | 16,754 |  |  | — |  |  | 16,754 |  |  | 17,167 |  |  | — |  |  | 17,167 |  |  |  |  |  |  |  |  |  |  |
Long-term operating lease liabilities, net of current portion | 5,036 |  |  | 897 |  |  | 5,933 |  |  | 5,063 |  |  | 3,823 |  |  | 8,886 |  |  |  |  |  |  |  |  |  |  |
Other liabilities | 301 |  |  | — |  |  | 301 |  |  | 356 |  |  | — |  |  | 356 |  |  |  |  |  |  |  |  |  |  |
Total VIE liabilities | $ | 26,038 |  |  | $ | 19,840 |  |  | $ | 45,878 |  |  | $ | 26,590 |  |  | $ | 172,473 |  |  | $ | 199,063 |  |  |  |  |  |  |  |  |  |  |
(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. On February 9, 2024, we entered into an equity purchase agreement and sold a 40% interest in a consolidated joint venture for $28,864 in cash. During the three months ended March 31, 2024, we acquired the remaining interest in one joint venture when we closed on the phase 2 acquisition of BCE as discussed in Note 6. Equity and Cost 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. During the three months ended March 31, 2024, one of our equity method investments was sold to another company. We received distributions and net proceeds totaling $12,956 and recognized a gain on the sale in the amount of $89, which is included earnings from unconsolidated entities in the condensed consolidated statements of income. The following table provides information about our equity and cost method investments in joint ventures:
|  |  |  |  | As of
|  |  |  |  | March 31, 2024 |  | December 31, 2023
Equity and cost method investments |  |  |  |  | $ | 10,927 |  |  | $ | 18,709 |

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- 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
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