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Equity (Tables)

12 Months Ended

Dec. 31, 2020

The Company and affiliates owned the following economic interests in Spark HoldCo at December 31, 2020 and December 31, 2019, respectively.


	The Company		Affiliated Owners



















December 31, 2020	41.53	%	58.47	%
December 31, 2019	41.04	%	58.96	%

Schedule of Net Income 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):


	Year Ended December 31,
	2020		2019		2018

Net income (loss) allocated to non-controlling interest	$	44,277	$	7,604	$	(12,140)
Income tax expense allocated to non-controlling interest	5,349		1,841		1,066
Net income (loss) attributable to non-controlling interest	$	38,928	$	5,763	$	(13,206)

Computation of Earnings (Loss) Per Share

The following table presents the computation of basic and diluted income (loss) per share for the years ended December 31, 2020, 2019, and 2018 (in thousands, except per share data):


	Year Ended December 31,
	2020		2019		2018
Net income (loss) attributable to Spark Energy, Inc. stockholders	$	29,290	$	8,450	$	(1,186)
Less: Dividend on Series A preferred stock	7,441		8,091		8,109
Net income (loss) attributable to stockholders of Class A common stock	$	21,849	$	359	$	(9,295)

Basic weighted average Class A common shares outstanding	14,555		14,286		13,390
Basic earnings (loss) per share attributable to stockholders	$	1.50	$	0.03	$	(0.69)

Net income (loss) attributable to stockholders of Class A common stock	$	21,849	$	359	$	(9,295)


Diluted net income (loss) attributable to stockholders of Class A common stock	$	21,849	$	359	$	(9,295)

Basic weighted average Class A common shares outstanding	14,555		14,286		13,390


Effect of dilutive restricted stock units	160		282		—
Diluted weighted average shares outstanding	14,715		14,568		13,390

Diluted earnings (loss) per share attributable to stockholders	$	1.48	$	0.02	$	(0.69)

Carrying Amounts and Classification of Variable Interest Entities

The following table includes the carrying amounts and classification of the assets and liabilities of Spark HoldCo that are included in our consolidated balance sheet as of December 31, 2020 and 2019 (in thousands):


	December 31, 2020		December 31, 2019
Assets
Current assets:
Cash and cash equivalents	$	71,442	$	56,598
Accounts receivable	70,350		113,635
Other current assets	55,575		64,476
Total current assets	197,367		234,709
Non-current assets:
Goodwill	120,343		120,343
Other assets	15,259		37,826
Total non-current assets	135,602		158,169
Total Assets	$	332,969	$	392,878

Liabilities
Current liabilities:
Accounts Payable and Accrued Liabilities	$	61,436	$	86,097


Other current liabilities	43,676		65,863
Total current liabilities	105,112		151,960
Long-term liabilities:
Long-term portion of Senior Credit Facility	100,000		123,000



Other long-term liabilities	256		712
Total long-term liabilities	100,256		123,712
Total Liabilities	$	205,368	$	275,672

- 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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