|
As of September 30, 2022, we held the following equity method investments:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Investment Date |
|
Investee |
|
Carrying Value |
| |
|
|
|
(in millions) |
| Various |
|
Jupiter Equity Holdings LLC |
|
$ |
539 |
|
| Various |
|
Lighthouse Partnerships (1)
|
|
395 |
|
| Various |
|
Phase V Class A LLC |
|
191 |
|
| March 2020 |
|
University of Iowa Energy Collaborative Holdings LLC |
|
128 |
|
| Various |
|
Vivint Solar Asset 3 HoldCo Parent, LLC |
|
110 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Various |
|
Other investees |
|
559 |
|
|
|
Total equity method investments |
|
$ |
1,922 |
|
(1) Represents the total of three equity investments in a portfolio of renewable assets.
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.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Lighthouse Renewable HoldCo LLC |
|
Lighthouse Renewable HoldCo 2 LLC |
|
|
|
Phase V Class A LLC |
|
Vivint Solar Asset 3 Holdco Parent LLC |
|
Other Investments (1)
|
|
Total |
|
|
(in millions) |
| Balance Sheet |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| As of June 30, 2022 |
| Current assets |
|
|
$ |
39 |
|
|
$ |
20 |
|
|
|
|
$ |
63 |
|
|
$ |
21 |
|
|
$ |
596 |
|
|
$ |
739 |
|
| Total assets |
|
|
828 |
|
|
425 |
|
|
|
|
276 |
|
|
397 |
|
|
10,663 |
|
|
12,589 |
|
| Current liabilities |
|
|
65 |
|
|
29 |
|
|
|
|
40 |
|
|
10 |
|
|
600 |
|
|
744 |
|
| Total liabilities |
|
|
315 |
|
|
134 |
|
|
|
|
50 |
|
|
378 |
|
|
4,905 |
|
|
5,782 |
|
| Members' equity |
|
|
513 |
|
|
291 |
|
|
|
|
226 |
|
|
19 |
|
|
5,758 |
|
|
6,807 |
|
| As of December 31, 2021 |
| Current assets |
|
|
102 |
|
|
48 |
|
|
|
|
17 |
|
|
13 |
|
|
725 |
|
|
905 |
|
| Total assets |
|
|
750 |
|
|
472 |
|
|
|
|
198 |
|
|
384 |
|
|
10,264 |
|
|
12,068 |
|
| Current liabilities |
|
|
105 |
|
|
49 |
|
|
|
|
37 |
|
|
12 |
|
|
658 |
|
|
861 |
|
| Total liabilities |
|
|
211 |
|
|
130 |
|
|
|
|
43 |
|
|
379 |
|
|
4,400 |
|
|
5,163 |
|
| Members' equity |
|
|
539 |
|
|
342 |
|
|
|
|
155 |
|
|
5 |
|
|
5,864 |
|
|
6,905 |
|
| Income Statement |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| For the six months ended June 30, 2022 |
| Revenue |
|
|
(30) |
|
|
(33) |
|
|
|
|
4 |
|
|
20 |
|
|
130 |
|
|
91 |
|
| Income (loss) from continuing operations |
|
|
(53) |
|
|
(51) |
|
|
|
|
(1) |
|
|
— |
|
|
(237) |
|
|
(342) |
|
| Net income (loss) |
|
|
(53) |
|
|
(51) |
|
|
|
|
(1) |
|
|
— |
|
|
(237) |
|
|
(342) |
|
| For the six months ended June 30, 2021 |
| Revenue |
|
|
(71) |
|
|
— |
|
|
|
|
1 |
|
|
11 |
|
|
48 |
|
|
(11) |
|
| Income (loss) from continuing operations |
|
|
(88) |
|
|
— |
|
|
|
|
— |
|
|
4 |
|
|
(286) |
|
|
(370) |
|
| Net income (loss) |
|
|
(88) |
|
|
— |
|
|
|
|
— |
|
|
4 |
|
|
(286) |
|
|
(370) |
|
(1) Represents aggregated financial statement information for investments not separately presented.
|