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Equity
 9 Months Ended
Sep. 30, 2022
Equity [Abstract]  
Equity
4. Equity

Non-controlling Interest

We hold an economic interest and are the sole managing member in Spark HoldCo, with affiliates of our Founder holding the remaining economic interests in Spark HoldCo. As a result, we consolidate the financial position and results of operations of Spark HoldCo, and reflect the economic interests owned by these affiliates as a non-controlling interest. The Company and affiliates owned the following economic interests in Spark HoldCo at September 30, 2022 and December 31, 2021, respectively.

The CompanyAffiliated Owners
September 30, 202244.45 %55.55 %
December 31, 202144.12 %55.88 %

The following table summarizes the portion of net income and income tax expense attributable to non-controlling interest (in thousands):
Three Months Ended September 30,Nine Months Ended September 30,
2022202120222021
Net (loss) income allocated to non-controlling interest$(3,909)$21,959 $23,432 $18,884 
Income tax expense allocated to non-controlling interest78 2,185 1,451 4,726 
Net (loss) income attributable to non-controlling interest$(3,987)$19,774 $21,981 $14,158 

Class A Common Stock and Class B Common Stock
Holders of the Company's Class A common stock and Class B common stock vote together as a single class on all matters presented to our stockholders for their vote or approval, except as otherwise required by applicable law or by our certificate of incorporation.

Conversion of Class B Common Stock to Class A Common Stock

In July 2021, holders of Class B common stock exchanged 800,000 of their Spark HoldCo units (together with a corresponding number of shares of Class B common stock) for shares of Class A common stock at an exchange ratio of one share of Class A common stock for each Spark HoldCo unit (and corresponding share of Class B common stock) exchanged.

Dividends on Class A Common Stock

Dividends declared for the Company's Class A common stock are reported as a reduction of retained earnings, or a reduction of additional paid in capital to the extent retained earnings are exhausted. During the nine months ended September 30, 2022, we paid $8.6 million in dividends to the holders of the Company's Class A common stock. This dividend represented a quarterly rate of $0.18125 per share on each share of Class A common stock.

In order to pay our stated dividends to holders of our Class A common stock, our subsidiary, Spark HoldCo is required to make corresponding distributions to holders of its units, including those holders that own our Class B common stock (our non-controlling interest holder). As a result, during the nine months ended September 30, 2022, Spark HoldCo made corresponding distributions of $10.8 million to our non-controlling interest holders.


Earnings Per Share

Basic earnings per share (“EPS”) is computed by dividing net income attributable to stockholders (the numerator) by the weighted-average number of Class A common shares outstanding for the period (the denominator). Class B common shares are not included in the calculation of basic earnings per share because they are not participating securities and have no economic interests. Diluted earnings per share is similarly calculated except that the denominator is increased by potentially dilutive securities.

The following table presents the computation of basic and diluted income per share for the three and nine months ended September 30, 2022 and 2021 (in thousands, except per share data):
Three Months Ended September 30,Nine Months Ended September 30,
2022202120222021
Net (loss) income attributable to Via Renewables, Inc. stockholders$(881)$14,883 $16,710 $17,735 
Less: Dividend on Series A Preferred Stock2,026 1,951 5,677 5,853 
Net (loss) income attributable to stockholders of Class A common stock$(2,907)$12,932 $11,033 $11,882 
Basic weighted average Class A common shares outstanding15,858 15,572 15,754 14,965 
Basic (loss) income per share attributable to stockholders$(0.18)$0.83 $0.70 $0.79 
Net (loss) income attributable to stockholders of Class A common stock$(2,907)$12,932 $11,033 $11,882 
Diluted net (loss) income attributable to stockholders of Class A common stock$(2,907)$12,932 $11,033 $11,882 
Basic weighted average Class A common shares outstanding15,858 15,572 15,754 14,965 
Effect of dilutive restricted stock units— 114 109 134 
Diluted weighted average shares outstanding15,858 15,686 15,863 15,099 
Diluted (loss) income per share attributable to stockholders$(0.18)$0.82 $0.70 $0.79 

The computation of diluted earnings per share for the three and nine months ended September 30, 2022 and 2021, respectively, excludes 20.0 million shares of Class B common stock because the effect of their conversion was antidilutive. The Company's outstanding shares of Series A Preferred Stock were not included in the calculation of diluted earnings per share because they contain only contingent redemption provisions that have not occurred.

Variable Interest Entity

Spark HoldCo is a variable interest entity due to its lack of rights to participate in significant financial and operating decisions and its inability to dissolve or otherwise remove its management. Spark HoldCo owns all of the outstanding membership interests in each of our operating subsidiaries except VES. We are the sole managing member of Spark HoldCo, manage Spark HoldCo's operating subsidiaries through this managing membership interest, and are considered the primary beneficiary of Spark HoldCo. The assets of Spark HoldCo cannot be used to settle our obligations except through distributions to us, and the liabilities of Spark HoldCo cannot be settled by us except through contributions to Spark HoldCo. The following table includes the carrying amounts and classification of the assets and liabilities of Spark HoldCo that are included in our condensed consolidated balance sheet as of September 30, 2022 and December 31, 2021 (in thousands):
September 30, 2022December 31, 2021
Assets
Current assets:
   Cash and cash equivalents$39,977 $68,703 
   Accounts receivable56,651 66,676 
   Other current assets76,567 56,392 
   Total current assets173,195 191,771 
Non-current assets:
   Goodwill120,343 120,343 
   Other assets14,622 16,758 
   Total non-current assets134,965 137,101 
   Total Assets$308,160 $328,872 
Liabilities
Current liabilities:
   Accounts payable and accrued liabilities$40,230 $62,538 
   Other current liabilities47,678 49,328 
   Total current liabilities87,908 111,866 
Long-term liabilities:
   Long-term portion of Senior Credit Facility93,000 135,000 
   Subordinated debt — affiliate
20,000 — 
   Other long-term liabilities5,830 145 
   Total long-term liabilities118,830 135,145 
   Total Liabilities$206,738 $247,011