Quarterly report pursuant to Section 13 or 15(d)

Segment Reporting - Predecessor

v3.22.2.2
Segment Reporting - Predecessor
9 Months Ended
Sep. 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 nine months ended September 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 September 30, 2022




Revenue and other income
$ 73,857 $ 27,366 $ 3,770 $ 104,993
Intersegment revenue
1,161 (1,161)
Total revenue and other income
73,857 28,527 2,609 104,993
Equity investment income, net
2,547 398 2,945
Net income (loss)
17,762 3,249 (45,246) (24,235)
Interest expense
1,454  —  9,121  10,575 
Depreciation, amortization and accretion
11,104 5,602 266 16,972
Income tax expense 5 6 46 57
EBITDA
$ 30,325 $ 8,857 $ (35,813) $ 3,369
Nine months ended September 30, 2022
Revenue and other income
$ 171,480 $ 59,307 $ 8,322 $ 239,109
Intersegment revenue
—  3,938  (3,938) — 
Total revenue and other income
171,480 63,245 4,384 239,109
Equity investment income, net
6,091  976  —  7,067 
Net income (loss)
42,188 6,523 (73,494) (24,783)
Interest expense
3,448 13,493 16,941
Depreciation, amortization and accretion
31,178 11,333 680 43,191
Income tax expense 5 6 175 186
EBITDA
$ 76,819 $ 17,862 $ (59,146) $ 35,535
September 30, 2022
Goodwill
$ 47,833  $ $ $ 47,833
Three months ended September 30, 2021
Revenue and other income
$ 5,963 $ 5,158 $ 865 $ 11,986
Intersegment revenue
—  12  (12) — 
Total revenue and other income
5,963 5,170 853 11,986
Net income (loss)
28 (320) (23,885) (24,177)
Interest expense
(18) —  1,604  1,586
Depreciation, amortization and accretion
1,906 1,204 32 3,142
EBITDA
$ 1,916 $ 884 $ (22,249) $ (19,449)
Nine months ended September 30, 2021
Revenue and other income
$ 6,785 $ 7,395 $ 4,588 $ 18,768
Intersegment revenue
—  12  (12) — 
Total revenue and other income
6,785 7,407 4,576 18,768
Net income (loss)
(1,538) (2,150) (30,918) (34,606)
Interest expense
—  1,604  1,606 
Depreciation, amortization and accretion
2,121  1,834  122  4,077 
EBITDA
$ 585 $ (316) $ (29,192) $ (28,923)
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
For the period July 1 to September 14, 2021
Total revenue and other income $ 27,668 $ 9,127 $ (1,807) $ 34,988
Net income (loss) 20,293 1,505 (22,332) (534)
Depreciation, amortization and accretion 1,888  2,739  4,634 
Interest expense —  —  2,053  2,053 
EBITDA $ 22,181  $ 4,244  $ (20,272) $ 6,153 
For the year-to-date period ended September 14, 2021
Total Revenue and other income $ 82,338 $ 37,058 $ (1,807) $ 117,589
Net income (loss) 59,066 66,431 (40,977) 84,520
Depreciation, amortization and accretion 6,447  9,467  34  15,948 
Interest expense —  —  10,729  10,729 
EBITDA $ 65,513  $ 75,898  $ (30,214) $ 111,197