Quarterly report pursuant to Section 13 or 15(d)

Equity Method Investments

v3.21.2
Equity Method Investments
 9 Months Ended
Sep. 30, 2021
Equity Method Investments and Joint Ventures [Abstract]  
Equity Method Investments Equity Method Investments
We have non-controlling unconsolidated equity investments in renewable energy and energy efficiency projects as well as in a joint venture that owns land with long-term triple net lease agreements to several solar projects. We recognized income (loss) from our equity method investments of approximately $(7) million and $70 million during the three and nine months ended September 30, 2021, respectively, compared to $17 million and $33 million during the three and nine months ended September 30, 2020, respectively.
We describe our accounting for non-controlling equity investments in Note 2 to our financial statements in this Form 10-Q. The following is a summary of the consolidated financial position and results of operations of the significant entities accounted for using the equity method.
SunStrong Capital Holdings LLC
Rosie Target Co, LLC (1)
Lighthouse Renewable HoldCo LLC (1)
Summit Ridge Capital Holdings, LLC Vivint Solar Asset 3 Holdco Parent LLC
Other Investments (2)
Total
(in millions)
Balance Sheet
As of June 30, 2021
Current assets $ 87  $ 11  $ 11  $ 51  $ 60  $ 636  $ 856 
Total assets 1,624  282  482  407  441  7,900  11,136 
Current liabilities 63  5  41  58  8  587  762 
Total liabilities 1,282  101  130  357  353  2,586  4,809 
Members' equity 342  181  352  50  88  5,314  6,327 
As of December 31, 2020
Current assets 92  25  22  18  86  539  782 
Total assets 1,532  299  497  268  303  7,340  10,239 
Current liabilities 48  19  22  43  3  518  653 
Total liabilities 1,217  118  87  243  139  2,298  4,102 
Members' equity 315  181  410  25  164  5,042  6,137 
Income Statement
For the six months ended June 30, 2021
Revenue 67  6  (71) 6  11  4  23 
Income (loss) from continuing operations 2  (3) (88) (5) 4  (283) (373)
Net income (loss) 2  (3) (88) (5) 4  (283) (373)
For the six months ended June 30, 2020
Revenue 61  —  —  1  —  118  180 
Income (loss) from continuing operations (4) —  —  (2) —  (1) (7)
Net income (loss) (4) —  —  (2) —  (1) (7)
(1)     Component of the Lighthouse Partnerships described in Note 6 to our financial statements in this Form 10-Q.
(2)     Represents aggregated financial statement information for investments not separately presented.