Equity (Tables)

6 Months Ended

Jun. 30, 2019

The Company and affiliates owned the following economic interests in Spark HoldCo at December 31, 2018 and June 30, 2019, respectively.



	The Company		Affiliated Owners
December 31, 2018	40.53	%	59.47	%
June 30, 2019	41.04	%	58.96	%

Summary of Net Income (Loss) and Income Tax Expense (Benefit) Attributable to Non-controlling Interest

The following table summarizes the portion of net income (loss) and income tax expense (benefit) attributable to non-controlling interest (in thousands):



	Three Months Ended June 30,					Six Months Ended June 30,
	2019			2018		2019			2018

Net (loss) income allocated to non-controlling interest	$	(18,888	)	$	15,523	$	(17,895	)	$	(15,586	)
Income tax (benefit) expense allocated to non-controlling interest	(519		)	381		(1,489		)	(2		)
Net (loss) income attributable to non-controlling interest	$	(18,369	)	$	15,142	$	(16,406	)	$	(15,584	)

Computation of Basic and Diluted Income (Loss) Per Share

The following table presents the computation of basic and diluted income (loss) per share for the three and six months ended June 30, 2019 and 2018 (in thousands, except per share data):



	Three Months Ended June 30,					Six Months Ended June 30,
	2019			2018		2019			2018
Net (loss) income attributable to Spark Energy, Inc. stockholders	$	(7,115	)	$	8,785	$	(6,333	)	$	(2,320	)
Less: Dividend on Series A preferred stock	2,027			2,027		4,054			4,054
Net (loss) income attributable to stockholders of Class A common stock	$	(9,142	)	$	6,758	$	(10,387	)	$	(6,374	)

Basic weighted average Class A common shares outstanding	14,246			13,229		14,191			13,183
Basic (loss) income per share attributable to stockholders	$	(0.64	)	$	0.51	$	(0.73	)	$	(0.48	)

Net (loss) income attributable to stockholders of Class A common stock	$	(9,142	)	$	6,758	$	(10,387	)	$	(6,374	)
Effect of conversion of Class B common stock to shares of Class A common stock	(16,557		)	—		(15,242		)	(11,601		)
Diluted net (loss) income attributable to stockholders of Class A common stock	$	(25,699	)	$	6,758	$	(25,629	)	$	(17,975	)

Basic weighted average Class A common shares outstanding	14,246			13,229		14,191			13,183
Effect of dilutive Class B common stock	20,800			—		20,800			21,485
Effect of dilutive restricted stock units	—			17		—			—
Diluted weighted average shares outstanding	35,046			13,246		34,991			34,668

Diluted (loss) income per share attributable to stockholders	$	(0.73	)	$	0.51	$	(0.73	)	$	(0.52	)

Carrying Amounts and Classification of Assets and Liabilities

The following table includes the carrying amounts and classification of the assets and liabilities of Spark HoldCo that are included in our condensed consolidated balance sheet as of June 30, 2019 and December 31, 2018 (in thousands):



	June 30, 2019		December 31, 2018
Assets
Current assets:
Cash and cash equivalents	$	27,486	$	36,724
Accounts receivable	103,680		150,866
Other current assets	66,726		92,963
Total current assets	197,892		280,553
Non-current assets:
Goodwill	120,343		120,343
Other assets	40,468		47,159
Total non-current assets	160,811		167,502
Total Assets	$	358,703	$	448,055

Liabilities
Current liabilities:
Accounts payable and accrued liabilities	$	72,251	$	79,692
Contingent consideration	1,328		1,328
Other current liabilities	54,839		59,330
Total current liabilities	128,418		140,350
Long-term liabilities:
Long-term portion of Senior Credit Facility	94,000		129,500
Subordinated debt — affiliate	—		10,000
Other long-term liabilities	4,838		319
Total long-term liabilities	98,838		139,819
Total Liabilities	$	227,256	$	280,169

- Definition

Tabular disclosure of the significant judgments and assumptions made in determining whether a variable interest (as defined) held by the entity requires the variable interest entity (VIE) (as defined) to be consolidated and (or) disclose information about its involvement with the VIE, individually or in aggregate (as applicable); the nature of restrictions, if any, on the consolidated VIE's assets and on the settlement of its liabilities reported by an entity in its statement of financial position, including the carrying amounts of such assets and liabilities; the nature of, and changes in, the risks associated with involvement in the VIE; how involvement with the VIE affects the entity's financial position, financial performance, and cash flows; the lack of recourse if creditors (or beneficial interest holders) of the consolidated VIE have no recourse to the general credit of the primary beneficiary (if applicable); the terms of arrangements, giving consideration to both explicit arrangements and implicit variable interests, if any, that could require the entity to provide financial support to the VIE, including events or circumstances that could expose the entity to a loss; the methodology used by the entity for determining whether or not it is the primary beneficiary of the variable interest entity; the significant factors considered and judgments made in determining that the power to direct the activities of a VIE that most significantly impact the VIE's economic performance are shared (as defined); the carrying amounts and classification of assets and liabilities of the VIE included in the statement of financial position; the entity's maximum exposure to loss, if any, as a result of its involvement with the VIE, including how the maximum exposure is determined and significant sources of the entity's exposure to the VIE; a comparison of the carrying amounts of the assets and liabilities and the entity's maximum exposure to loss; information about any liquidity arrangements, guarantees, and (or) other commitments by third parties that may affect the fair value or risk of the entity's variable interest in the VIE; whether or not the entity has provided financial support or other support (explicitly or implicitly) to the VIE that it was not previously contractually required to provide or whether the entity intends to provide that support, including the type and amount of the support and the primary reasons for providing the support; and supplemental information the entity determines necessary to provide.

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