Energy Assets (Tables)
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9 Months Ended |
Sep. 30, 2020 |
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| Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract] |
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| Schedule of Energy Assets |
Energy assets consist of the following:
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September 30, 2020 |
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December 31, 2019 |
| Energy assets |
$ |
885,148 |
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$ |
767,331 |
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| Less - accumulated depreciation and amortization |
(215,009) |
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(187,870) |
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| Energy assets, net |
$ |
670,139 |
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$ |
579,461 |
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| Schedule of Financing Lease Assets |
Included in the above energy assets are financing lease assets and associated accumulated depreciation and amortization, as follows:
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September 30, 2020 |
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December 31, 2019 |
| Financing lease assets |
$ |
42,402 |
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$ |
42,402 |
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| Less - accumulated depreciation and amortization |
(7,865) |
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(6,268) |
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| Financing lease assets, net |
$ |
34,537 |
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$ |
36,134 |
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Supplemental balance sheet information related to leases at September 30, 2020 and December 31, 2019 is as follows:
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September 30, 2020 |
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December 31, 2019 |
| Operating Leases: |
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| Operating lease assets |
$ |
36,336 |
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$ |
32,791 |
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| Current operating lease liabilities |
6,010 |
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5,802 |
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| Long-term portions of operating lease liabilities |
32,509 |
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29,101 |
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| Total operating lease liabilities |
$ |
38,519 |
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$ |
34,903 |
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| Weighted-average remaining lease term |
11 years |
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11 years |
| Weighted-average discount rate |
6.0 |
% |
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6.3 |
% |
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| Financing Leases: |
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| Energy assets, net |
$ |
34,537 |
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$ |
36,134 |
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| Current portions of financing lease liabilities |
4,746 |
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4,997 |
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| Long-term financing lease liabilities, less current portions and net of deferred financing fees |
21,352 |
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23,500 |
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| Total financing lease liabilities |
$ |
26,098 |
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$ |
28,497 |
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| Weighted-average remaining lease term |
16 years |
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17 years |
| Weighted-average discount rate |
11.9 |
% |
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11.8 |
% |
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| Schedule of Depreciation and Amortization Expense of Energy Assets |
Depreciation and amortization expense on the above energy assets, net of deferred grant amortization, included in the condensed consolidated statements of income is as follows:
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Three Months Ended September 30, |
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Nine Months Ended September 30, |
| Location |
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2020 |
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2019 |
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2020 |
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2019 |
| Cost of revenues |
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$ |
9,547 |
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$ |
8,843 |
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$ |
28,496 |
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$ |
26,338 |
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| Schedule of Depreciation and Amortization Expense of Energy Assets, Finance Lease Assets |
Included in the above depreciation and amortization expense on energy assets is depreciation and amortization on financing lease assets, as follows:
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Three Months Ended September 30, |
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Nine Months Ended September 30, |
| Location |
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2020 |
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2019 |
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2020 |
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2019 |
| Cost of revenues |
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$ |
533 |
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$ |
533 |
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$ |
1,597 |
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$ |
1,597 |
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The costs related to the Company’s leases are as follows:
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Three Months Ended September 30, |
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Nine Months Ended September 30, |
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2020 |
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2019 |
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2020 |
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2019 |
| Operating Lease: |
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| Operating lease costs |
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$ |
2,001 |
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$ |
1,913 |
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$ |
5,933 |
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$ |
5,660 |
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| Financing Lease: |
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| Amortization expense |
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533 |
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533 |
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1,597 |
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1,597 |
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| Interest on lease liabilities |
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723 |
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854 |
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2,282 |
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2,750 |
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| Total lease costs |
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$ |
3,257 |
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$ |
3,300 |
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$ |
9,812 |
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$ |
10,007 |
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| Schedule of Capitalized Interest |
The Company capitalized interest costs as follows:
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Three Months Ended September 30, |
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Nine Months Ended September 30, |
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2020 |
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2019 |
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2020 |
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2019 |
| Capitalized interest |
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$ |
1,096 |
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$ |
632 |
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$ |
2,870 |
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$ |
2,210 |
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