v3.24.3
Equity Method Investments (Tables)
 9 Months Ended
Sep. 30, 2024
Equity Method Investments and Joint Ventures [Abstract]  
Schedule of Equity Method Investments
As of September 30, 2024, we held the following equity method investments:
InvesteeCarrying Value
 (in millions)
Jupiter Equity Holdings LLC$579 
Daggett Renewable HoldCo LLC445 
Lighthouse Renewable HoldCo 2 LLC350 
CarbonCount Holdings 1 LLC84 
Other equity method investments1,895 
Total equity method investments$3,353 
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. Certain of our equity method investments have the unrealized mark-to-market losses on energy hedges at the project level that do not qualify for hedge accounting. These unrealized mark-to-market losses, which resulted from rising energy prices, are recorded in the revenue line of the projects’ statements of operations. As these swaps are settled, the projects will sell power at the higher market price, offsetting the loss recognized on the energy hedges.
Jupiter Equity Holdings LLCDaggett Renewable Holdco LLC
Other Investments (1)
Total
(in millions)
Balance Sheet
As of June 30, 2024
Current assets$59 $68 $1,036 $1,163 
Total assets2,906 1,141 16,540 20,587 
Current liabilities316 13 907 1,236 
Total liabilities546 454 8,718 9,718 
Members' equity2,360 687 7,822 10,869 
As of December 31, 2023
Current assets52 35 898 985 
Total assets2,950 677 14,965 18,592 
Current liabilities205 10 715 930 
Total liabilities500 262 7,898 8,660 
Members' equity2,450 415 7,067 9,932 
Income Statement
For the six months ended June 30, 2024
Revenue6 31 489 526 
Income (loss) from continuing operations(95)1 (102)(196)
Net income (loss)(95)1 (102)(196)
For the six months ended June 30, 2023
Revenue59 2 386 447 
Income (loss) from continuing operations(27)2 (61)(86)
Net income (loss)(27)2 (61)(86)
(1)     Represents aggregated financial statement information for investments not separately presented.