Quarterly report pursuant to Section 13 or 15(d)

Segment Reporting - Predecessor

v3.22.2.2
Segment Reporting - Predecessor
 6 Months Ended
Jun. 30, 2022
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]  
Segment Reporting - Predecessor
NOTE 19 – Segment Information
The Company’s two reporting segments for the three and six months ended June 30, 2022 and 2021 are RNG and Power. The Company’s chief operating decision maker evaluates the performance of its segments based on operational measures including revenues, net income and EBITDA.
The following summarizes selected financial information for the Company’s reporting segments:
(in thousands)
RNG
 Power
Corporate and Other
Total
Three months ended June 30, 2022




Revenue and other income
 $ 58,781 $ 15,092 $ 3,346 $ 77,219
Intersegment revenue
 — 1,366 (1,366) —
Total revenue and other income
 58,781 16,458 1,980 77,219
Equity investment income, net
 2,506 187 — 2,693
Net income (loss)
 11,050 1,629 19,945 32,624
Interest expense
 1,468  —  2,244  3,712 
Depreciation, amortization and accretion
 10,966 2,573 191 13,730
Income tax expense — — 129 129
EBITDA
 $ 23,484 $ 4,202 $ 22,509 $ 50,195
Six months ended June 30, 2022
Revenue and other income
 $ 97,620 $ 31,941 $ 4,555 $ 134,116
Intersegment revenue
 —  2,777  (2,777) — 
Total revenue and other income
 97,620 34,718 1,778 134,116
Equity investment income, net
 3,544  578  —  4,122 
Net income (loss)
 24,426 3,274 (28,248) (548)
Interest expense
 1,995 — 4,371 6,366
Depreciation, amortization and accretion
 20,073 5,731 415 26,219
Income tax expense — — 129 129
EBITDA
 $ 46,494 $ 9,005 $ (23,333) $ 32,166
June 30, 2022
Goodwill
 $ 29,835  $ — $ — $ 29,835
Three months ended June 30, 2021
Revenue and other income
 $ 822 $ 2,237 $ 2,068 $ 5,127
Intersegment revenue
 —  —  —  — 
Total revenue and other income
 822 2,237 2,068 5,127
Net income (loss)
 (476) (1,830) (5,624) (7,930)
Interest expense
 13  —  —  13
Depreciation, amortization and accretion
 202 630 54 886
EBITDA
 $ (261) $ (1,200) $ (5,570) $ (7,031)
Six months ended June 30, 2021
Revenue and other income
 $ 822 $ 2,237 $ 3,722 $ 6,781
Intersegment revenue
 —  —  —  — 
Total revenue and other income
 822 2,237 3,722 6,781
Net income (loss)
 (1,566) (1,830) (7,033) (10,429)
Interest expense
 19  —  —  19 
Depreciation, amortization and accretion
 215  630  90  935 
EBITDA
 $ (1,332) $ (1,200) $ (6,943) $ (9,475)
December 31, 2021
Goodwill
 $ 29,211  $ —  $ —  $ 29,211 
Aria Energy LLC  
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]  
Segment Reporting - Predecessor Segment Reporting - Predecessor
(in thousands) RNG Power Corporate and Other Total
Three months ended June 30, 2021
Total revenue $ 28,716 $ 12,347 $ — $ 41,063
Net income (loss) 21,823 63,422 (9,195) 76,050
Depreciation, amortization and accretion 2,284  3,325  12  5,621 
Interest expense —  —  4,355  4,355 
EBITDA $ 24,107  $ 66,747  $ (4,828) $ 86,026 
Six Months Ended June 30, 2021
Total Revenue $ 54,669 $ 27,931 $ — $ 82,600
Net income (loss) 38,773 64,925 (18,938) 84,760
Depreciation, amortization and accretion 4,559  6,728  27  11,314 
Interest expense —  —  8,676  8,676 
EBITDA $ 43,332  $ 71,653  $ (10,235) $ 104,750