Quarterly report pursuant to Section 13 or 15(d)

Energy Assets (Tables)

v3.20.1
Energy Assets (Tables)
 3 Months Ended
Mar. 31, 2020
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]  
Schedule of Energy Assets
Energy assets consist of the following: 
March 31, December 31,
  2020 2019
Energy assets $ 793,215    $ 767,331   
Less - accumulated depreciation and amortization (196,723)   (187,870)  
Energy assets, net $ 596,492    $ 579,461   
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: 
March 31, December 31,
  2020 2019
Financing lease assets $ 42,402    $ 42,402   
Less - accumulated depreciation and amortization (6,800)   (6,268)  
Financing lease assets, net $ 35,602    $ 36,134   
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, net of current portions and 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  %
Supplemental balance sheet information related to leases at March 31, 2020 and December 31, 2019 is as follows:
March 31, 2020 December 31, 2019
Operating Leases:
Operating lease assets $ 32,444    $ 32,791   
Current operating lease liabilities 5,360    5,802   
Long-term portions of operating lease liabilities 29,104    29,101   
Total operating lease liabilities $ 34,464    $ 34,903   
Weighted-average remaining lease term 11 years 11 years
Weighted-average discount rate 6.4  % 6.3  %
Financing Leases:
Energy assets, net    $ 35,602    $ 36,134   
Current portions of financing lease liabilities 4,906    4,997   
Long-term financing lease liabilities, less current portions and net of deferred financing fees    23,472    23,500   
Total financing lease liabilities $ 28,378    $ 28,497   
Weighted-average remaining lease term 17 years 17 years
Weighted-average discount rate 11.8  % 11.8  %