Equity Method Investment

9 Months Ended

Sep. 30, 2020

Equity Method Investments and Joint Ventures [Abstract]

Equity Method Investment

Equity Method Investment

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 $94 and $96 at September 30, 2020 and December 31, 2019, respectively. 

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

	September 30, 2020		December 31, 2019
Current assets	$	2,657	$	2,482
Noncurrent assets	310		395
Total assets	$	2,967	$	2,877
Current liabilities	377		321
Equity of Charah	5,095		5,078
Equity of joint venture partner	(2,505)		(2,522)
Total liabilities and members’ equity	$	2,967	$	2,877

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

	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2020		2019		2020		2019
Revenue	$	2,353	$	2,647	$	5,377	$	7,400
Net income	1,252		1,334		2,495		3,767
Charah Solutions’ share of net income	625		667		1,247		1,884

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

	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2020		2019		2020		2019
Opening balance	$	4,851	$	5,218	$	5,078	$	5,060
Distributions	(381)		(591)		(1,230)		(1,650)
Share of net income	625		667		1,247		1,884
Closing balance	$	5,095	$	5,294	$	5,095	$	5,294