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CONSOLIDATED BALANCE SHEETS
Dec. 31, 2017
USD ($)
Dec. 31, 2016
USD ($)
Current assets:    
Cash and cash equivalents [1] $ 29,419,000 $ 18,960,000 [2]
Accounts receivable, net of allowance for doubtful accounts of $4.0 million and $2.3 million as of December 31, 2017 and 2016, respectively 158,814,000 112,491,000
Accounts receivable—affiliates 3,661,000 2,624,000
Inventory 4,470,000 3,752,000
Fair value of derivative assets 31,191,000 8,344,000
Customer acquisition costs, net 22,123,000 18,834,000
Customer relationships, net 18,653,000 12,113,000
Prepaid assets 1,028,000 1,361,000
Deposits 7,701,000 7,329,000
Other current assets 19,678,000 12,175,000
Total current assets 296,738,000 197,983,000
Property and equipment, net 8,275,000 4,706,000
Fair value of derivative assets 3,309,000 3,083,000
Customer acquisition costs, net 6,949,000 [3] 6,134,000
Deferred tax assets 34,839,000 21,410,000
Deferred tax assets 24,185,000 54,109,000
Goodwill 120,154,000 79,147,000
Other assets 11,500,000 8,658,000
Total Assets 505,949,000 375,230,000
Current liabilities:    
Accounts payable 77,510,000 52,309,000
Accounts payable—affiliates 4,622,000 3,775,000
Accrued liabilities 33,679,000 36,619,000
Fair value of derivative liabilities 1,637,000 680,000
Current payable pursuant to tax receivable agreement—affiliates 7,500,000 51,287,000
Current payable pursuant to tax receivable agreement—affiliates 5,937,000 0
Current contingent consideration for acquisitions 4,024,000 11,827,000
Current portion of note payable 13,443,000 15,501,000
Convertible subordinated notes to affiliates 0 6,582,000
Other current liabilities 2,675,000 5,476,000
Total current liabilities 151,027,000 184,056,000
Long-term liabilities:    
Fair value of derivative liabilities 492,000 68,000
Payable pursuant to tax receivable agreement—affiliates 26,355,000 49,886,000
Long-term portion of Senior Credit Facility 117,750,000 0
Subordinated debt—affiliate 0 5,000,000
Contingent consideration for acquisitions 626,000 10,826,000
Other long-term liabilities 172,000 1,658,000
Long-term portion of note payable 7,051,000 0
Total liabilities 303,473,000 251,494,000
Commitments and contingencies
Series A Preferred Stock, par value $0.01 per share, 20,000,000 shares authorized, 1,704,339 shares issued and outstanding at December 31, 2017 and zero shares issued and outstanding at December 31, 2016 41,173,000 0
Additional paid-in capital (1) [4] 26,914,000 25,272,000
Accumulated other comprehensive (loss)/income (11,000) 11,000
Retained earnings 11,008,000 4,711,000
Treasury stock, at cost, 99,446 shares at December 31, 2017 and zero shares at December 31, 2016 (2,011,000) 0
Total stockholders' equity 36,248,000 30,330,000
Non-controlling interest in Spark HoldCo, LLC (1) [4] 125,055,000 93,406,000
Total equity 161,303,000 123,736,000
Total Liabilities, Series A Preferred Stock and stockholders' equity 505,949,000 375,230,000
Common Class A    
Common stock [4] 132,000 130,000
Common Class B    
Common stock [4] $ 216,000 $ 206,000
[1] Financial information has been recast to include results attributable to the acquisition of Perigee Energy, LLC by an affiliate on February 3, 2017. See Notes 2 and 3 "Basis of Presentation and Summary of Significant Accounting Policies" and "Acquisitions," respectively, for further discussion.
[2] Financial information has been recast to include results attributable to the acquisition of the Major Energy Companies from an affiliate on April 15, 2016. See Notes 2 and 3 "Basis of Presentation and Summary of Significant Accounting Policies" and "Acquisitions," respectively, for further discussion.
[3] See Note 4 "Equity" for disclosure of our variable interest entity in Spark HoldCo, LLC.
[4] Outstanding shares of common stock, additional paid-in capital and non-controlling interest reflect the two-for-one stock split, which took effect on June 16, 2017. See Note 4 "Equity" for further discussion