Equity Method Investment

6 Months Ended

Jun. 30, 2020

Equity Method Investments and Joint Ventures [Abstract]

Charah has an investment in a company that provides ash management and remarketing services to the electric utility industry. Charah accounts for its investment under the equity method of accounting because Charah has significant influence over the financial and operating policies of the company. Charah had a receivable due from the equity method investment of $72 and $96 at June 30, 2020 and December 31, 2019, respectively.

Summarized balance sheet information of our equity method investment entity is as follows:



	June 30, 2020			December 31, 2019
Current assets	$	2,051		$	2,482
Noncurrent assets	339			395
Total assets	$	2,390		$	2,877
Current liabilities	288			321
Equity of Charah	4,851			5,078
Equity of joint venture partner	(2,749		)	(2,522		)
Total liabilities and members’ equity	$	2,390		$	2,877

Summarized financial performance of our equity method investment entity is as follows:



	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2020		2019		2020		2019
Revenue	$	1,546	$	2,533	$	3,024	$	4,753
Net income	651		1,325		1,243		2,433
Charah Solutions’ share of net income	326		663		622		1,217

The following table reflects our proportional ownership activity in our investment account:



	Three Months Ended						Six Months Ended
	June 30,						June 30,
	2020			2019			2020			2019
Opening balance	$	4,781		$	5,102		$	5,078		$	5,060
Distributions	(256		)	(547		)	(849		)	(1,059		)
Share of net income	326			663			622			1,217
Closing balance	$	4,851		$	5,218		$	4,851		$	5,218