Company: ALCE
Filing Date: 2025-06-06
Form Type: 10-K
Source: 0001213900-25-052242
Chunk: 2611

Company: Alternus Clean Energy, Inc.
Filing Date: 2025-06-06
Form: 10-K
Item: Item 8
Chunk 2611
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 of continuing and discontinued operations. The following is a reconciliation of “Cash and
cash equivalents” of continuing operations presented in the Consolidated Balance Sheets and the total cash, cash equivalents, and
restricted cash presented in the Consolidated Statements of Cash Flows:

    Year Ended December 31, 

    2024  
    2023 

    (in thousands) 
  
    Cash and cash equivalents on the Consolidated Balance Sheets 
    $161  
    $4,042 
  
    Cash and cash equivalents of discontinued operations included in current assets of discontinued operations on the Consolidated Balance Sheets 
     -  
     1,361 
  
    Restricted cash of discontinued operations included in current assets of discontinued operations on the Consolidated Balance Sheets 
     -  
     19,161 
  
    Total cash, cash equivalents, and restricted cash on the Consolidated Statements of Cash Flow 
    $161  
    $24,564 

Reclassification of Prior Period Cash Flows

On October 3, 2024, the Company
completed the sale of Solis Bond Company DAC and its subsidiaries in Romania, which met the criteria for classification as a discontinued
operation under ASC 205-20. Consequently, the results of Solis and its Romanian subsidiaries have been presented as discontinued operations
in the consolidated financial statements for all periods presented. As a result, the consolidated statements of cash flows for the year
ended December 31, 2023, have been recast to segregate cash flows from discontinued operations. These reclassifications had no impact
on previously reported net cash flows. The following table summarizes the cash flows attributable to discontinued operations (in thousands):

    Year Ended December 31, 
  
    Discontinued Operations 
    2024  
    2023 
  
    Net cash provided by/(used in) operating activities 
    $95,592  
    $10,173 
  
    Net cash provided by/(used in) investing activities 
     23,088  
     (124)
  
    Net cash provided by/(used in) financing activities 
     (137,729) 
     (17,164)

Accounts Receivable

Accounts receivable are uncollateralized
amounts due from customers under normal trade terms. Accounts receivables are presented net of allowance for doubtful accounts. The Company
establishes an allowance for doubtful customer accounts, through a review of historical losses, customer balances, and