Company: ALCE
Filing Date: 2025-06-06
Form Type: 10-K
Source: 0001213900-25-052242
Chunk: 652

Company: Alternus Clean Energy, Inc.
Filing Date: 2025-06-06
Form: 10-K
Item: Item 1B
Chunk 652
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 actual results could differ from these estimates.

Segments

The Company has two operating
segments, United States Operations and European Operations, and has identified the chief operating decision-making (“CODM”)
group as the CEO of the Company. The CEO regularly reviews the Reporting Packs that contain financial and operational results aggregated
by geography as well as consolidated income statement, balance sheet, and equity of the overall company.

F-11

Cash and Cash Equivalents

The Company considers cash
and highly liquid investments with original maturities of three months or less to be cash and cash equivalents. The Company maintains
cash and cash equivalents with major financial institutions, the largest concentration in the United States, Ireland, Spain, and Italy,
and with ING in Poland. The Company may at times exceed federally insured limits or statutorily insured limits in a foreign jurisdiction.
The Company periodically assesses the financial condition and due to the size and stability of the institutions believes the risk of loss
to be remote.

The Consolidated Statements
of Cash Flows includes the cash flows 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