9.Investments

Short-term investments typically consist of certificates of deposit and are carried at cost, which approximates fair value and are recorded in the consolidated balance sheets in short-term investments. The Company’s short-term investments were $110,000, $110,000, and $195,000 as of May 2, 2020, February 1, 2020, and May 4, 2019 consist, respectively.

The Company’s investments in renewable energy projects are accounted for under the equity method of accounting. The balance of these investments was $6,437, $3,936, and $9,977 as of May 2, 2020, February 1, 2020 and May 4, 2019, respectively, and is included in other long-term assets on the consolidated balance sheets. The Company contributed capital of $5,386 and received distributions including $1,250 of investment tax credits during the 13 weeks ended May 2, 2020. The Company contributed capital of $12,736 and received distributions including $4,864 of investment tax credits during the 13 weeks ended May 4, 2019.