Quarterly report pursuant to Section 13 or 15(d)

Equity Method Investments

v3.22.1
Equity Method Investments
 3 Months Ended
Mar. 31, 2022
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 $48 million during the three months ended March 31, 2022, compared to $54 million during the three months ended March 31, 2021. We describe our accounting for 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.
Jupiter Equity Holdings LLC Phase V Class A LLC Vivint Solar Asset 3 Holdco Parent LLC
Other Investments (1)
Total
(in millions)
Balance Sheet
As of December 31, 2021
Current assets $ 323  $ 17  $ 13  $ 489  $ 842 
Total assets 3,434  201  384  8,095  12,114 
Current liabilities 188  40  12  472  712 
Total liabilities 687  46  379  4,104  5,216 
Members' equity 2,747  155  5  3,991  6,898 
As of December 31, 2020
Current assets 338  28  86  352  804 
Total assets 3,509  65  303  6,739  10,616 
Current liabilities 248  21  3  395  667 
Total liabilities 502  22  139  3,460  4,123 
Members' equity 3,007  43  164  3,279  6,493 
Income Statement
For the twelve months ended December 31, 2021
Revenue (253) 4  28  393  172 
Income (loss) from continuing operations (450) —  1  (133) (582)
Net income (loss) (450) —  1  (133) (582)
For the twelve months ended December 31, 2020
Revenue (14) —  1  378  365 
Income (loss) from continuing operations (72) —  (2) (164) (238)
Net income (loss) (72) —  (2) (164) (238)
(1)     Represents aggregated financial statement information for investments not separately presented.