| Schedule of Energy Assets |
Energy assets consist of the following:
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|
|
|
|
|
|
|
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|
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:
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|
|
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|
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:
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|
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:
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|
|
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 |
% |
|