Summary of Significant Accounting Policies (Tables)
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9 Months Ended |
Sep. 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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Nine Months Ended September 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 |
483 |
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|
68 |
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Account write-offs and other |
(361 |
) |
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(4,088 |
) |
Allowance for doubtful accounts, end of period |
$ |
3,437 |
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$ |
3,816 |
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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. |
| 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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September 30, |
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December 31, |
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2018 |
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2017 |
Capital lease assets, net |
$ |
38,782 |
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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 |
1,946 |
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|
2,054 |
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Total deferred loss |
$ |
2,061 |
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$ |
2,172 |
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Capital lease liabilities, short-term |
4,838 |
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|
4,157 |
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Capital lease liabilities, long-term |
31,897 |
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30,712 |
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Total capital lease liabilities |
$ |
36,735 |
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$ |
34,869 |
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Deferred gain, short-term, net |
344 |
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|
338 |
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Deferred gain, long-term, net |
5,935 |
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|
5,835 |
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Total deferred gain |
$ |
6,279 |
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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 under this facility:
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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 |
September 30, 2018 |
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2 |
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$ |
5,145 |
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$ |
611 |
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$ |
— |
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$ |
2,591 |
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20 |
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$ |
1 |
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$ |
738 |
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September 30, 2017 |
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3 |
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$ |
9,157 |
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$ |
642 |
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$ |
— |
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$ |
4,114 |
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20 |
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$ |
13 |
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$ |
231 |
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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 September 30, |
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Nine Months Ended September 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 |
$ |
10,701 |
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$ |
8,493 |
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$ |
26,391 |
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$ |
13,680 |
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Basic weighted-average shares outstanding |
45,854 |
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45,524 |
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|
45,599 |
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|
45,500 |
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Effect of dilutive securities: |
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Stock options |
1,090 |
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|
247 |
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|
910 |
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164 |
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Diluted weighted-average shares outstanding |
46,944 |
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45,771 |
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46,509 |
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45,664 |
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