Annual report pursuant to Section 13 and 15(d)

Equity Method Investments (Tables)

v3.22.4
Equity Method Investments (Tables)
 12 Months Ended
Dec. 31, 2022
Equity Method Investments and Joint Ventures [Abstract]  
Schedule of Equity Method Investments As of December 31, 2022, we held the following equity method investments:
Investment Date Investee Carrying Value
    (in millions)
Various Jupiter Equity Holdings, LLC $ 540 
Various
Lighthouse Partnerships (1)
389 
Various Phase V Class A LLC 165 
March 2020 University of Iowa Energy Collaborative Holdings LLC 130 
Various Vivint Solar Asset 3 HoldCo Parent LLC 116 
Various Other investees 530 
Total equity method investments $ 1,870 
(1)Represents the total of three equity investments in a portfolio of a renewable energy projects discussed below.
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 II LLC
Other Investments (1)
Total
Balance Sheet in millions
As of September 30, 2022
Current assets $ 13  $ 712  $ 725 
Total assets 413  11,703  12,116 
Current liabilities 23  748  771 
Total liabilities 132  5,631  5,763 
Members’ equity 281  6,072  6,353 
As of December 31, 2021
Current assets 48  818  866 
Total assets 472  11,124  11,596 
Current liabilities 49  818  867 
Total liabilities 130  4,904  5,034 
Members’ equity 342  6,220  6,562 
Income Statement
For the nine months ended September 30, 2022
Revenue (35)
(2)
 326  291 
Income (loss) from continuing operations (61) (340) (401)
Net income (loss) (61) (340) (401)
For the year ended December 31, 2021
Revenue 1  139  140 
Income (loss) from continuing operations —  (577) (577)
Net income (loss) —  (577) (577)
For the year ended December 31, 2020
Revenue —  343  343 
Income (loss) from continuing operations —  (222) (222)
Net income (loss) —  (222) (222)
(1)Represents aggregated financial statement information for investments not separately presented.
(2)Amount contains $34 million of mark-to-market losses on energy swaps which do not qualify for hedge accounting.