Annual report pursuant to Section 13 and 15(d)

Equity Method Investments

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Equity Method Investments
 12 Months Ended
Dec. 31, 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. During the years ended December 31, 2021, 2020, and 2019 we recognized income (loss) of $126 million, $48 million, and $64 million respectively, from our equity method investments. We describe our accounting for the non-controlling equity investments in Note 2.
The following is a summary of the consolidated balance sheets and income statements of the entities in which we have a significant equity method investment. These amounts are presented on the underlying investees’ accounting basis. In certain instances, adjustment to these equity values may be necessary in order to reflect our basis in these investments. As described in Note 2, any difference between the amount of our investment and the amount of our share of underlying equity is generally amortized over the life of the assets and liabilities to which the differences relate.
Vivint Solar Asset 3 Borrower, LLC
Rosie Targetco, LLC
Other Investments (1)
Total
Balance Sheet in millions
As of September 30, 2021
Current assets $ 20  $ 13  $ 754  $ 787 
Total assets 406  282  11,188  11,876 
Current liabilities 16  5  741  762 
Total liabilities 383  101  4,558  5,042 
Members’ equity 23  181  6,630  6,834 
As of December 31, 2020
Current assets 86  25  671  782 
Total assets 303  299  9,637  10,239 
Current liabilities 3  19  631  653 
Total liabilities 139  118  3,845  4,102 
Members’ equity 164  181  5,792  6,137 
Income Statement
For the nine months ended September 30, 2021
Revenue 20  11  65  96 
Income from continuing operations 3  (2) (493) (492)
Net income 3  (2) (493) (492)
For the year ended December 31, 2020
Revenue 2  1  367  370 
Income from continuing operations (2) (5) (232) (239)
Net income (2) (5) (232) (239)
For the year ended December 31, 2019
Revenue —  —  273  273 
Income from continuing operations —  —  (97) (97)
Net income —  —  (97) (97)
(1)Represents aggregated financial statement information for investments not separately presented.