Equity (Tables)

12 Months Ended

Dec. 31, 2016

Schedule of Sale of Stock by Subsidiary or Equity Method Investee Disclosure

Subsequent to the IPO through December 31, 2016, the Company and NuDevco owned the following economic interests in Spark HoldCo:



	The Company	NuDevco Retail and Retailco ⁽¹⁾
From the IPO to December 31, 2014	21.82%	78.18%
On December 31, 2015	22.49%	77.51%
On December 31, 2016	38.85%	61.15%
(1) In January 2016, Retailco succeeded to the interest of NuDevco Retail Holdings of its Class B common stock and in equal number of Spark HoldCo units it held pursuant to a series of transfers.

The Company and NuDevco Retail and Retailco owned the following economic interests in Spark HoldCo at December 31, 2015 and December 31, 2016, respectively.



Non-controlling Interest Economic Interest
	The Company		NuDevco Retail and Retailco⁽¹⁾
December 31, 2015	22.49	%	77.51	%
December 31, 2016	38.85	%	61.15	%
(1) In January 2016, Retailco succeeded to the interest of NuDevco Retail Holdings of its Class B common stock and in equal number of Spark HoldCo units it held pursuant to a series of transfers.

Schedule of Noncontrolling Interest

The following table summarizes the portion of net income and income tax expense (benefit) attributable to non-controlling interest (in thousands):



	2016		2015

Net income allocated to non-controlling interest	$	52,300	$	21,779
Income tax expense (benefit) allocated to non-controlling interest	1,071		(331		)
Net income attributable to non-controlling interest	$	51,229	$	22,110

Computation of Earnings Per Share

The following table presents the computation of earnings per share for the years ended December 31, 2016 and 2015 (in thousands, except per share data):



	Year Ended December 31,
	2016			2015
Net income attributable to stockholders of Class A common stock	$	14,444		$	3,865
Basic weighted average Class A common shares outstanding	5,701			3,064
Basic EPS attributable to stockholders	$	2.53		$	1.26

Net income attributable to stockholders of Class A common stock	$	14,444		$	3,865
Effect of conversion of Class B common stock to shares of Class A common stock	—			—
Effect of conversion of convertible subordinated notes into shares of Class B common stock and shares of Class B common stock into shares of Class A common stock	(310		)	(334		)
Diluted net income attributable to stockholders of Class A common stock	$	14,134		$	3,531
Basic weighted average Class A common shares outstanding	5,701			3,064
Effect of dilutive Class B common stock	—			—
Effect of dilutive convertible subordinated notes into shares of Class B common stock and shares of Class B common stock into shares of Class A common stock	505			210
Effect of dilutive restricted stock units	139			53
Diluted weighted average shares outstanding	6,345			3,327

Diluted EPS attributable to stockholders	$	2.23		$	1.06

Schedule of Variable Interest Entities

The following table includes the carrying amounts and classification of the assets and liabilities of Spark HoldCo that are included in the Company's consolidated balance sheet as of December 31, 2016 (in thousands):



	December 31, 2016
Assets
Current assets:
Cash and cash equivalents	$	18,945
Accounts receivable	112,491
Other current assets	65,866
Total current assets	197,302
Non-current assets:
Goodwill	79,147
Other assets	43,991
Total non-current assets	123,138
Total Assets	$	320,440

Liabilities
Current liabilities:
Accounts Payable and Accrued Liabilities	88,547
Intercompany payable with Spark Energy, Inc.	(3,399		)
Current portion of Senior Credit Facility	51,287
Contingent consideration	11,827
Convertible subordinated notes to affiliates	6,582
Other current liabilities	9,932
Total current liabilities	164,776
Long-term liabilities:
Subordinated debt—affiliate	5,000
Contingent consideration	10,826
Other long-term liabilities	68
Total long-term liabilities	15,894
Total Liabilities	$	180,670

- Definition

Tabular disclosure of the significant judgments and assumptions made in determining whether a variable interest (as defined) held by the entity requires the variable interest entity (VIE) (as defined) to be consolidated and (or) disclose information about its involvement with the VIE, individually or in aggregate (as applicable); the nature of restrictions, if any, on the consolidated VIE's assets and on the settlement of its liabilities reported by an entity in its statement of financial position, including the carrying amounts of such assets and liabilities; the nature of, and changes in, the risks associated with involvement in the VIE; how involvement with the VIE affects the entity's financial position, financial performance, and cash flows; the lack of recourse if creditors (or beneficial interest holders) of the consolidated VIE have no recourse to the general credit of the primary beneficiary (if applicable); the terms of arrangements, giving consideration to both explicit arrangements and implicit variable interests, if any, that could require the entity to provide financial support to the VIE, including events or circumstances that could expose the entity to a loss; the methodology used by the entity for determining whether or not it is the primary beneficiary of the variable interest entity; the significant factors considered and judgments made in determining that the power to direct the activities of a VIE that most significantly impact the VIE's economic performance are shared (as defined); the carrying amounts and classification of assets and liabilities of the VIE included in the statement of financial position; the entity's maximum exposure to loss, if any, as a result of its involvement with the VIE, including how the maximum exposure is determined and significant sources of the entity's exposure to the VIE; a comparison of the carrying amounts of the assets and liabilities and the entity's maximum exposure to loss; information about any liquidity arrangements, guarantees, and (or) other commitments by third parties that may affect the fair value or risk of the entity's variable interest in the VIE; whether or not the entity has provided financial support or other support (explicitly or implicitly) to the VIE that it was not previously contractually required to provide or whether the entity intends to provide that support, including the type and amount of the support and the primary reasons for providing the support; and supplemental information the entity determines necessary to provide.

+ References + Details