10. Investments
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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 did not have short-term investments as of August 1, 2020. The Company’s short-term investments were $110,000 and $150,000 as of February 1, 2020, and August 3, 2019, respectively.

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The Company’s investments in renewable energy projects are accounted for under the equity method of accounting.  The balance of these investments was $5,110, $3,936, and $17,449 as of August 1, 2020, February 1, 2020, and August 3, 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 $1,291 of investment tax credits during the 26 weeks ended August 1, 2020. The Company contributed capital of $33,339 and received distributions including $17,370 of investment tax credits during the 26 weeks ended August 3, 2019.