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VARIABLE INTEREST ENTITIES AND EQUITY METHOD INVESTMENTS | 3 Months Ended
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Mar. 31, 2025
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, 2025 (1) |  | December 31, 2024 (1) |  |  |  |  |  |
| Investment Funds |  | Other VIEs |  | Total VIEs |  | Investment Funds |  | Other VIEs |  | Total VIEs |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents | $ | 57 |  |  | $ | 18,182 |  |  | $ | 18,239 |  |  | $ | 89 |  |  | $ | 8,691 |  |  | $ | 8,780 |  |  |  |  |  |  |  |  |  |  |
Accounts receivable, net | — |  |  | 4,795 |  |  | 4,795 |  |  | — |  |  | 14,607 |  |  | 14,607 |  |  |  |  |  |  |  |  |  |  |
Unbilled revenue | 348 |  |  | 32,155 |  |  | 32,503 |  |  | 230 |  |  | 4,040 |  |  | 4,270 |  |  |  |  |  |  |  |  |  |  |
Prepaid expenses and other current assets | 30 |  |  | 3,370 |  |  | 3,400 |  |  | 30 |  |  | 1,293 |  |  | 1,323 |  |  |  |  |  |  |  |  |  |  |
Income taxes receivable | — |  |  | 1,203 |  |  | 1,203 |  |  | — |  |  | 672 |  |  | 672 |  |  |  |  |  |  |  |  |  |  |
Project development costs, net | — |  |  | 1,824 |  |  | 1,824 |  |  | — |  |  | 5,795 |  |  | 5,795 |  |  |  |  |  |  |  |  |  |  |
Total VIE current assets | 435 |  |  | 61,529 |  |  | 61,964 |  |  | 349 |  |  | 35,098 |  |  | 35,447 |  |  |  |  |  |  |  |  |  |  |
Energy assets, net | 23,155 |  |  | 82,814 |  |  | 105,969 |  |  | 23,538 |  |  | 98,876 |  |  | 122,414 |  |  |  |  |  |  |  |  |  |  |
Deferred income tax assets, net | — |  |  | 2,530 |  |  | 2,530 |  |  | — |  |  | — |  |  | — |  |  |  |  |  |  |  |  |  |  |
Intangible assets, net | — |  |  | — |  |  | — |  |  | — |  |  | 20 |  |  | 20 |  |  |  |  |  |  |  |  |  |  |
Right-of-use assets, net | 468 |  |  | — |  |  | 468 |  |  | 471 |  |  | — |  |  | 471 |  |  |  |  |  |  |  |  |  |  |
Other assets | — |  |  | 103 |  |  | 103 |  |  | — |  |  | 196 |  |  | 196 |  |  |  |  |  |  |  |  |  |  |
Total VIE assets | $ | 24,058 |  |  | $ | 146,976 |  |  | $ | 171,034 |  |  | $ | 24,358 |  |  | $ | 134,190 |  |  | $ | 158,548 |  |  |  |  |  |  |  |  |  |  |
Current portions of long-term debt and financing lease liabilities | $ | — |  |  | $ | 13,473 |  |  | $ | 13,473 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  |  |  |  |  |  |  |  |  |
Accounts payable | 27 |  |  | 17,401 |  |  | 17,428 |  |  | 27 |  |  | 5,140 |  |  | 5,167 |  |  |  |  |  |  |  |  |  |  |
Accrued expenses and other current liabilities | 32 |  |  | 364 |  |  | 396 |  |  | 25 |  |  | 577 |  |  | 602 |  |  |  |  |  |  |  |  |  |  |
Current portions of operating lease liabilities | 13 |  |  | — |  |  | 13 |  |  | 13 |  |  | — |  |  | 13 |  |  |  |  |  |  |  |  |  |  |
Deferred revenue | — |  |  | 15,428 |  |  | 15,428 |  |  | — |  |  | 10,063 |  |  | 10,063 |  |  |  |  |  |  |  |  |  |  |
Income taxes payable | — |  |  | 546 |  |  | 546 |  |  | — |  |  | 526 |  |  | 526 |  |  |  |  |  |  |  |  |  |  |
Total VIE current liabilities | 72 |  |  | 47,212 |  |  | 47,284 |  |  | 65 |  |  | 16,306 |  |  | 16,371 |  |  |  |  |  |  |  |  |  |  |
Long-term operating lease liabilities, net of current portion | 487 |  |  | — |  |  | 487 |  |  | 500 |  |  | — |  |  | 500 |  |  |  |  |  |  |  |  |  |  |
Total VIE liabilities | $ | 559 |  |  | $ | 47,212 |  |  | $ | 47,771 |  |  | $ | 565 |  |  | $ | 16,306 |  |  | $ | 16,871 |  |  |  |  |  |  |  |  |  |  |
(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 agreement to sell a 40% interest in an energy asset, thus forming a joint venture, and we received $28,864 in cash. We also received additional contributions totaling $6,543 during the year ended December 31, 2024 and $2,863 during the three months ended March 31, 2025. 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 loss. The following table provides information about our equity and cost method investments in joint ventures:
|  |  |  |  | As of
|  |  |  |  | March 31, 2025 |  | December 31, 2024
Equity and cost method investments |  |  |  |  | $ | 17,376 |  |  | $ | 16,987 |

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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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