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Variable Interest Entity | 9 Months Ended
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Sep. 30, 2018
Variable Interest Entity [Abstract] |
Variable Interest Entity | Note 12—Variable Interest Entity Citizens Choice Energy, LLC (“CCE”), is a REP that resells electricity and natural gas to residential and small business customers in the State of New York. The Company does not own any interest in CCE. Since 2011, the Company has provided CCE with substantially all of the cash required to fund its operations. The Company determined that it has the power to direct the activities of CCE that most significantly impact its economic performance and it has the obligation to absorb losses of CCE that could potentially be significant to CCE on a stand-alone basis. The Company therefore determined that it is the primary beneficiary of CCE, and as a result, the Company consolidates CCE within its GRE segment. The net income or loss incurred by CCE was attributed to noncontrolling interests in the accompanying consolidated statements of operations. The Company has an option to purchase 100% of the issued and outstanding limited liability company interests of CCE for one dollar plus the forgiveness of $0.5 million that the Company loaned to CCE in October 2015. The option expires on October 22, 2023. Net loss related to CCE and aggregate net funding repaid to (provided by) the Company were as follows:
|  | Three Months Ended September 30, |  |  | Nine Months Ended September 30, |
|  | 2018 |  |  | 2017 |  |  | 2018 |  |  | 2017 |
|  | (in thousands) |
Net (loss) income |  | $ | (392 | ) |  | $ | 312 |  |  | $ | (913 | ) |  | $ | (21 | )
Aggregate funding (provided by) repaid to the Company, net |  | $ | (479 | ) |  | $ | 173 |  |  | $ | (422 | ) |  | $ | 202 |
Summarized combined balance sheet amounts related to CCE was as follows:
|  | September 30, 2018 |  |  | December 31, 2017 |
|  | (in thousands) |
Assets |  |  |  |  |  |
Cash and cash equivalents |  | $ | 51 |  |  | $ | 52 |
Restricted cash |  |  | 7 |  |  |  | 31 |
Trade accounts receivable |  |  | 576 |  |  |  | 1,031 |
Prepaid expenses |  |  | 402 |  |  |  | 451 |
Other current assets |  |  | 29 |  |  |  | 31 |
Other assets |  |  | 358 |  |  |  | 439 |
Total assets |  | $ | 1,423 |  |  | $ | 2,035 |
Liabilities and noncontrolling interests |  |  |  |  |  |  |  |
Current liabilities |  | $ | 576 |  |  | $ | 698 |
Due to IDT Energy |  |  | 1,562 |  |  |  | 1,140 |
Noncontrolling interests |  |  | (715 | ) |  |  | 197 |
Total liabilities and noncontrolling interests |  | $ | 1,423 |  |  | $ | 2,035 |
The assets of CCE may only be used to settle obligations of CCE, and may not be used for other consolidated entities. The liabilities of CCE are non-recourse to the general credit of the Company’s other consolidated entities.

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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 -Publisher FASB -Name Accounting Standards Codification -Topic 810 -URI http://asc.fasb.org/topic&trid=2197479 + Details
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