Quarterly report pursuant to Section 13 or 15(d)

Energy Assets (Tables)

v3.19.1
Energy Assets (Tables)
3 Months Ended
Mar. 31, 2019
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]  
Schedule of Energy Assets
Energy assets consist of the following: 
 
March 31,
 
December 31,
 
2019
 
2018
Energy assets
$
644,978

 
$
619,708

Less - accumulated depreciation and amortization
(168,396
)
 
(159,756
)
Energy assets, net
$
476,582

 
$
459,952

Schedule of Finance Lease Assets
Included in energy assets are financing lease assets and accumulated depreciation of financing lease assets. Financing lease assets consist of the following: 
 
March 31, 2019
 
December 31, 2018
 
 
Financing lease assets
$
42,402

 
$
42,402

Less - accumulated depreciation and amortization
(4,671
)
 
(4,139
)
Financing lease assets, net
$
37,731

 
$
38,263

Supplemental balance sheet information related to leases at March 31, 2019 are as follows:
 
March 31, 2019
Operating Leases:
 
Operating lease assets

$
30,350

Current operating lease liabilities
5,082

Long-term portions of operating lease liabilities
27,305

Total operating lease liabilities
$
32,387

Weighted-average remaining lease term
10 years

Weighted-average discount rate
6.1
%
 
 
Financing Leases:
 
Energy assets, net
$
37,731

Current portions of long-term debt and financing lease liabilities

4,958

Long-term debt and financing lease liabilities, less current portions and net of deferred financing fees
28,379

Total financing lease liability
$
33,337

Weighted-average remaining lease term
18 years

Weighted-average discount rate
11.7
%
These adjustments are detailed as follows:
 
As of January 1, 2019
 
As Reported
842 Adjustment
Adjusted Balances
Operating Leases:
 
 
 
Operating lease right-of-use asset

$

$
31,639

$
31,639

Current portions of operating lease right-of-use liabilities

5,084

5,084

Long-term portions of operating lease liabilities

28,480

28,480

Total operating lease liabilities
$

$
33,564

$
33,564

Weighted-average remaining lease term
 
 
10 years

Weighted-average discount rate
 
 
6.0
%
 
 
 
 
Financing Leases:
 
 
 
Energy assets, net
$
38,263

$

$
38,263

Current portions of long-term debt and financing lease liabilities

4,956


4,956

Long-term debt and financing lease liabilities, less current portions and net of deferred financing fees
28,407


28,407

Total financing lease liabilities
$
33,363

$

$
33,363

Weighted-average remaining lease term
 
 
18 years

Weighted-average discount rate
 
 
11.7
%