Summary of Significant Accounting Policies (Tables)
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6 Months Ended |
Jun. 30, 2018 |
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| Accounting Policies [Abstract] |
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| Changes in Allowance for Doubtful Accounts |
Changes in the allowance for doubtful accounts are as follows:
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Six Months Ended June 30, |
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2018 |
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2017 |
Allowance for doubtful accounts, beginning of period |
$ |
3,315 |
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$ |
7,836 |
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Charges to costs and expenses |
303 |
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|
15 |
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Account write-offs and other |
(159 |
) |
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(3,945 |
) |
Allowance for doubtful accounts, end of period |
$ |
3,459 |
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$ |
3,906 |
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| Estimated Useful Lives of Property and Equipment |
Included in energy assets are capital lease assets and accumulated depreciation of capital lease assets.
Depreciation and amortization of property and equipment are computed on a straight-line basis over the following estimated useful lives:
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Asset Classification |
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Estimated Useful Life |
Furniture and office equipment |
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Five years |
Computer equipment and software costs |
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Three to five years |
Leasehold improvements |
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Lesser of term of lease or five years |
Automobiles |
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Five years |
Land |
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Unlimited |
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| Schedule of Sale Leaseback Transactions |
A summary of amounts related to sale leasebacks in the Company’s consolidated balance sheets is as follows:
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June 30, |
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December 31, |
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2018 |
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2017 |
Capital lease assets, net |
$ |
36,690 |
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$ |
36,676 |
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Deferred loss, short-term, net |
115 |
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|
118 |
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Deferred loss, long-term, net |
1,975 |
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|
2,054 |
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Total deferred loss |
$ |
2,090 |
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$ |
2,172 |
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Capital lease liabilities, short-term |
4,718 |
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|
4,157 |
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Capital lease liabilities, long-term |
29,425 |
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30,712 |
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Total capital lease liabilities |
$ |
34,143 |
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$ |
34,869 |
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Deferred gain, short-term, net |
318 |
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|
338 |
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Deferred gain, long-term, net |
5,467 |
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5,835 |
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Total deferred gain |
$ |
5,785 |
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$ |
6,173 |
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See below for a summary of solar PV project sales in prior year under our sale-leaseback agreements:
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Quarter Ended |
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# Solar PV Projects Sold (actual #’s)_ |
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Sale Price |
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Deferred Gain Recorded |
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Deferred Loss Recorded |
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Capital Lease Asset/Liability Recorded |
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Initial Lease Term (years) |
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Minimum Lease Payment |
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Maximum Lease Payment |
June 30, 2017 |
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4 |
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$ |
12,671 |
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$ |
932 |
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$ |
144 |
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$ |
5,774 |
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20 |
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$ |
4 |
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$ |
252 |
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| Schedule of Earnings Per Share, Basic and Diluted |
When the effects are not anti-dilutive, diluted earnings per share is calculated using the weighted-average outstanding common shares; the dilutive effect of convertible preferred stock, under the “if converted” method; and the treasury stock method with regard to warrants and stock options; all as determined under the treasury stock method.
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Three Months Ended June 30, |
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Six Months Ended June 30, |
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2018 |
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2017 |
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2018 |
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2017 |
Net income attributable to common shareholders |
$ |
8,702 |
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$ |
5,831 |
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$ |
15,690 |
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$ |
5,187 |
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Basic weighted-average shares outstanding |
45,470,000 |
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45,463,000 |
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45,469,000 |
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45,488,000 |
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Effect of dilutive securities: |
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Stock options |
936,000 |
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212,000 |
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803,000 |
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113,000 |
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Diluted weighted-average shares outstanding |
46,406,000 |
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45,675,000 |
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46,272,000 |
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45,601,000 |
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