Quarterly report pursuant to Section 13 or 15(d)

Energy Assets (Tables)

v3.19.2
Energy Assets (Tables)
6 Months Ended
Jun. 30, 2019
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]  
Schedule of Energy Assets
Energy assets consist of the following: 
 
June 30,
 
December 31,
 
2019
 
2018
Energy assets
$
670,030

 
$
619,708

Less - accumulated depreciation and amortization
(177,349
)
 
(159,756
)
Energy assets, net
$
492,681

 
$
459,952

Schedule of Financing Lease Assets
Included in energy assets are financing lease assets and accumulated depreciation of financing lease assets. Financing lease assets consist of the following: 
 
June 30,
 
December 31,
 
2019
 
2018
Financing lease assets
$
42,402

 
$
42,402

Less - accumulated depreciation and amortization
(5,203
)
 
(4,139
)
Financing lease assets, net
$
37,199

 
$
38,263

Supplemental balance sheet information related to leases at June 30, 2019 is as follows:
 
June 30, 2019
Operating Leases:
 
Operating lease assets

$
32,051

Current operating lease liabilities
5,807

Long-term portions of operating lease liabilities
28,308

Total operating lease liabilities
$
34,115

Weighted-average remaining lease term
10 years

Weighted-average discount rate
6.3
%
 
 
Financing Leases:
 
Energy assets, net
$
37,199

Current portions of financing lease liabilities
5,044

Long-term financing lease liabilities, less current portions and net of deferred financing fees
26,100

Total financing lease liability
$
31,144

Weighted-average remaining lease term
17 years

Weighted-average discount rate
11.8
%
These adjustments are detailed as follows:
 
As of January 1, 2019
 
As Reported
 
842 Adjustment
 
Adjusted Balances
Operating Leases:
 
 
 
 
 
Operating lease assets
$

 
$
31,639

 
$
31,639

Current portions of operating lease 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 financing lease liabilities
4,956

 

 
4,956

Long-term 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
%