Summary of Significant Accounting Policies (Tables)
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6 Months Ended |
Jun. 30, 2017 |
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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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2017 |
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2016 |
Allowance for doubtful accounts, beginning of period |
$ |
7,836 |
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|
$ |
3,729 |
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Charges to costs and expenses |
15 |
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|
1,852 |
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Account write-offs and other |
(3,945 |
) |
|
376 |
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Allowance for doubtful accounts, end of period |
$ |
3,906 |
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$ |
5,957 |
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| Estimated Useful Lives of Property and Equipment |
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 |
Included in energy assets are capital lease assets and accumulated depreciation of capital lease assets. Capital lease assets consist of the following:
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As of June 30, |
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As of December 31, |
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2017 |
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2016 |
Capital lease assets |
$ |
26,316 |
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|
$ |
15,640 |
|
Less - accumulated depreciation and amortization |
(1,265 |
) |
|
(744 |
) |
Capital lease assets, net |
$ |
25,051 |
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|
$ |
14,896 |
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| Schedule of Sale Leaseback Transactions |
See below for a summary of solar PV project sales by fiscal quarter under our sale-leaseback agreements:
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Quarter Ended |
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# Solar PV Projects Sold |
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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 |
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Periodic Minimum Lease Payment |
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Periodic Maximum Lease Payment |
June 30, 2016 |
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3 |
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7,467 |
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— |
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|
124 |
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4,266 |
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20 |
|
8 |
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|
389 |
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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 |
|
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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2017 |
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2016 |
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2017 |
|
2016 |
Net income attributable to common shareholders |
$ |
5,831 |
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$ |
1,994 |
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$ |
5,187 |
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$ |
3,048 |
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Basic weighted-average shares outstanding |
45,463,403 |
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46,719,122 |
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45,488,498 |
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46,730,805 |
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Effect of dilutive securities: |
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Stock options |
211,312 |
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74,228 |
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112,968 |
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— |
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Diluted weighted-average shares outstanding |
45,674,715 |
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46,793,350 |
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45,601,466 |
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46,730,805 |
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