Quarterly report pursuant to Section 13 or 15(d)

Segment Information

v3.21.4
Segment Information
9 Months Ended
Sep. 30, 2021
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]  
Segment Information
NOTE 20 – Segment Information
The Company’s two reporting segments for the three and nine months ended September 30, 2021 and 2020 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. Below is a reconciliation of EBITDA to income (loss) before income taxes.
Three Months Ended Nine Months Ended
(in thousands)
September 30,
2021
September 30,
2020
September 30,
2021
September 30,
2020
(As Restated) (As Restated)
Income (loss) before income taxes
$ (24,177) $ (602) $ (34,606) $ (1,819)
Interest expense
1,586  —  1,606  — 
Depreciation, amortization and accretion
3,142  34  4,077  101 
EBITDA
$ (19,449) $ (568) $ (28,923) $ (1,718)
The following summarizes selected financial information for the Company’s reporting segments:
(in thousands)
RNG
Power
Corporate and Other
Total
(As Restated) (As Restated)
Three months ended September 30, 2021




Revenue
$ 5,963 $ 5,158 $ 865 $ 11,986
Intersegment revenue
12 (12)
Total revenue
$ 5,963 $ 5,170 $ 853 $ 11,986
Net income (loss)
$ 28 $ (320) $ (23,885) $ (24,177)
EBITDA
$ 1,916 $ 884 $ (22,249) $ (19,449)
Nine months ended September 30, 2021
Revenue
$ 6,785 $ 7,395 $ 4,588 $ 18,768
Intersegment revenue
—  12  (12) — 
Total revenue
$ 6,785 $ 7,407 $ 4,576 $ 18,768
Net income (loss)
$ (1,538) $ (2,150) $ (30,918) $ (34,606)
EBITDA
$ 585 $ (316) $ (29,192) $ (28,923)
September 30, 2021
Goodwill
$ 27,011 $ $ $ 27,011
Three months ended September 30, 2020
Revenue
$ $ $ 1,904 $ 1,904
Intersegment revenue
—  —  —  — 
Total revenue
$ $ $ 1,904 $ 1,904
Net income (loss)
$ (19) $ (5) $ (578) $ (602)
EBITDA
$ (19) $ (5) $ (544) $ (568)
Nine months ended September 30, 2020
Revenue
$ 34 $ $ 4,462 $ 4,496
Intersegment revenue
—  —  —  — 
Total revenue
$ 34 $ $ 4,462 $ 4,496
Net income (loss)
$ (102) $ (5) $ (1,712) $ (1,819)
EBITDA
$ (102) $ (5) $ (1,611) $ (1,718)
December 31, 2020
Goodwill
$ 2,754 $ $ $ 2,754
Aria Energy LLC  
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]  
Segment Information Segment Reporting - Predecessor
For the year-to-date period ended September 14, 2021
(in thousands) RNG Power Corporate and Other Total
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 
Amortization of intangibles and below-market contracts 2,516  177  —  2,693
Gain on disposal of assets —  (1,347) —  (1,347)
Net derivative activity (1,129) —  —  (1,129)
Debt forbearance costs —  —  990  990 
Gain on extinguishment of debt —  (61,411) —  (61,411)
Costs related to sale of equity —  —  18,629  18,629 
Adjusted EBITDA $ 66,900  $ 13,317  $ (10,595) $ 69,622 
For the nine months ended September 30, 2020
(in thousands) RNG Power Corporate and Other Total
Net income (loss) $ 19,308  $ (161) $ (25,218) $ (6,071)
Depreciation, amortization and accretion 6,729  16,592  60  23,381 
Interest expense —  —  14,429  14,429 
EBITDA $ 26,037  $ 16,431  $ (10,729) $ 31,739 
Amortization of intangibles and below-market contracts 2,674  78  —  $ 2,752 
Net derivative activity 61  —  —  61
Debt forbearance costs —  —  907  907
Costs related to sale of equity —  —  196  196
Adjusted EBITDA $ 28,772  $ 16,509  $ (9,626) $ 35,655