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Leases (Tables)

6 Months Ended

Jun. 30, 2019

Schedule of Operating and Financing Leases Presented in Balance Sheets

The balances for the operating and finance leases where we are the lessee are presented as follows (in thousands) within our consolidated balance sheet:

	June 30, 2019
Operating leases:
Operating lease right-of-use assets	$	1,248,277

Accrued liabilities and other	$	220,092
Other long-term liabilities		1,030,797
Total operating lease liabilities	$	1,250,889

Finance leases:
Solar energy systems, net	$	31,288
Property, plant and equipment, net		1,620,995
Total finance lease assets	$	1,652,283

Current portion of long-term debt and finance leases	$	331,257
Long-term debt and finance leases, net of current portion		1,328,554
Total finance lease liabilities	$	1,659,811

Schedule of Components of Lease Expense and Other Information Related to Leases

The components of lease expense are as follows (in thousands) within our consolidated statements of operations:

	Three Months Ended		Six Months Ended
	June 30, 2019		June 30, 2019
Operating lease expense:
Operating lease expense (1)	$	106,101	$	207,338

Finance lease expense:
Amortization of leased assets	$	75,060	$	132,325
Interest on lease liabilities		26,906		50,467
Total finance lease expense	$	101,966	$	182,792

Total lease expense	$	208,067	$	390,130

(1)	Includes short-term leases and variable lease costs, which are immaterial.

Other information related to leases where we are the lessee is as follows (in thousands):

	June 30, 2019
Weighted-average remaining lease term:
Operating leases	6.6 years
Finance leases	4.4 years

Weighted-average discount rate:
Operating leases		6.4	%
Finance leases		6.6	%

Supplemental Cash Flow Information Related to Leases

Supplemental cash flow information related to leases where we are the lessee is as follows (in thousands):

	Six Months Ended
	June 30, 2019
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash outflows from operating leases	$	170,405
Operating cash outflows from finance leases (interest payments)	$	49,067
Financing cash outflows from finance leases	$	142,571
Leased assets obtained in exchange for new finance lease liabilities	$	468,723
Leased assets obtained in exchange for new operating lease liabilities	$	119,267

Schedule of Maturities of Operating and Finance Lease Liabilities

As of June 30, 2019, the maturities of our operating and finance lease liabilities (excluding short-term leases) are as follows (in thousands):

	Operating		Finance
	Leases		Leases
Six months ending December 31, 2019	$	147,583	$	237,862
2020		279,622		372,881
2021		247,142		654,080
2022		198,809		559,243
2023		166,428		10,297
Thereafter		517,982		17,223
Total minimum lease payments		1,557,566		1,851,586
Less: Interest		306,677		191,775
Present value of lease obligations		1,250,889		1,659,811
Less: Current portion		220,092		331,257
Long-term portion of lease obligations	$	1,030,797	$	1,328,554

Future Minimum Lease Payments Under Non-Cancellable Leases

As previously reported in our Annual Report on Form 10-K for the year ended December 31, 2018 and under legacy lease accounting (ASC 840), future minimum lease payments under non-cancellable leases as of December 31, 2018 are as follows (in thousands):

	Operating		Finance
	Leases		Leases
2019	$	275,654	$	416,952
2020		256,931		503,545
2021		230,406		506,197
2022		182,911		23,828
2023		157,662		4,776
Thereafter		524,590		5,938
Total minimum lease payments	$	1,628,154		1,461,236
Less: Interest				122,340
Present value of lease obligations				1,338,896
Less: Current portion				345,714
Long-term portion of lease obligations			$	993,182

Maturities of Operating Lease Receivables from Customers

As of June 30, 2019, maturities of our operating lease receivables from customers for each of the next five years and thereafter were as follows (in thousands):

Six months ending December 31, 2019	$	278,034
2020		493,508
2021		343,819
2022		207,032
2023		187,467
Thereafter		2,460,362
Total	$	3,970,222

Future Minimum Lease Payments to be Received from Customers under Non-cancellable Operating Leases ASC 840

As previously reported in our Annual Report on Form 10-K for the year ended December 31, 2018 and under legacy lease accounting (ASC 840), future minimum lease payments to be received from customers under non-cancellable leases as of December 31, 2018 are as follows (in thousands):

2019	$	501,625
2020		418,299
2021		270,838
2022		186,807
2023		188,809
Thereafter		2,469,732
Total	$	4,036,110