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Leases
 3 Months Ended
Mar. 31, 2021
Leases [Abstract]  
Leases LEASES
The table below sets forth supplemental condensed consolidated balance sheet information related to our leases:
March 31, 2021December 31, 2020
Operating Leases:
Operating lease assets$41,484 $39,151 
Current portions of operating lease liabilities$5,680 6,106 
Long-term portions of operating lease liabilities37,718 35,300 
Total operating lease liabilities$43,398 $41,406 
Weighted-average remaining lease term12 years12 years
Weighted-average discount rate5.81 %5.94 %
Financing Leases:
Energy assets$33,473 $34,005 
Current portions of financing lease liabilities$4,273 4,273 
Long-term financing lease liabilities, net of current portion, unamortized discount and debt issuance costs19,199 19,227 
Total financing lease liabilities$23,472 $23,500 
Weighted-average remaining lease term16 years16 years
Weighted-average discount rate11.93 %11.94 %
The costs related to our leases were as follows:
Three Months Ended March 31,
20212020
Operating Leases:
Operating lease costs$2,153 $1,826 
Financing Leases:
Amortization expense532 532 
Interest on lease liabilities658 801 
Total lease costs$3,343 $3,159 
Supplemental cash flow information related to our leases was as follows:
Three Months Ended March 31,
20212020
Cash paid for amounts included in the measurement of operating lease liabilities$2,423 $1,927 
Right-of-use assets obtained in exchange for new operating lease liabilities$3,773 $906 
The table below sets forth our estimated minimum future lease obligations under our leases:
 Operating LeasesFinancing Leases
Year ended December 31, 
2021$5,970 $6,736 
20227,853 5,178 
20236,510 3,676 
20245,439 2,565 
20254,431 2,213 
Thereafter32,565 21,866 
Total minimum lease payments62,768 42,234 
Less: interest19,370 18,762 
Present value of lease liabilities$43,398 $23,472 
We have a future lease commitment for a certain ground lease which does not yet meet the criteria for recording a ROU asset or ROU liability. The net present value of this commitment totals $3,000 as of March 31, 2021 and relates to a one-time payment due when specific criteria are met, which we estimate will be during the three months ended September 30, 2021.
Sale-leasebacks
We entered into a fifth amendment dated March 22, 2021 to our August 2018 agreement and increased the maximum funding amount from $150,000 up to $350,000 and extended the end date of the agreement from May 23, 2021 to March 31, 2022. We sold and leased back one energy asset for $1,087 in cash under this facility during the three months ended March 31, 2021. As of March 31, 2021, approximately $310,618 remained available under this lending commitment. These transactions are accounted for as failed sales and are classified as long-term financing facilities. See Note 7 for additional information.
Net gains from amortization expense in cost of revenues related to deferred gains and losses in connection with our sale-leaseback agreements were $57 and $55 for the three months ended March 31, 2021 and 2020, respectively.
Leases LEASES
The table below sets forth supplemental condensed consolidated balance sheet information related to our leases:
March 31, 2021December 31, 2020
Operating Leases:
Operating lease assets$41,484 $39,151 
Current portions of operating lease liabilities$5,680 6,106 
Long-term portions of operating lease liabilities37,718 35,300 
Total operating lease liabilities$43,398 $41,406 
Weighted-average remaining lease term12 years12 years
Weighted-average discount rate5.81 %5.94 %
Financing Leases:
Energy assets$33,473 $34,005 
Current portions of financing lease liabilities$4,273 4,273 
Long-term financing lease liabilities, net of current portion, unamortized discount and debt issuance costs19,199 19,227 
Total financing lease liabilities$23,472 $23,500 
Weighted-average remaining lease term16 years16 years
Weighted-average discount rate11.93 %11.94 %
The costs related to our leases were as follows:
Three Months Ended March 31,
20212020
Operating Leases:
Operating lease costs$2,153 $1,826 
Financing Leases:
Amortization expense532 532 
Interest on lease liabilities658 801 
Total lease costs$3,343 $3,159 
Supplemental cash flow information related to our leases was as follows:
Three Months Ended March 31,
20212020
Cash paid for amounts included in the measurement of operating lease liabilities$2,423 $1,927 
Right-of-use assets obtained in exchange for new operating lease liabilities$3,773 $906 
The table below sets forth our estimated minimum future lease obligations under our leases:
 Operating LeasesFinancing Leases
Year ended December 31, 
2021$5,970 $6,736 
20227,853 5,178 
20236,510 3,676 
20245,439 2,565 
20254,431 2,213 
Thereafter32,565 21,866 
Total minimum lease payments62,768 42,234 
Less: interest19,370 18,762 
Present value of lease liabilities$43,398 $23,472 
We have a future lease commitment for a certain ground lease which does not yet meet the criteria for recording a ROU asset or ROU liability. The net present value of this commitment totals $3,000 as of March 31, 2021 and relates to a one-time payment due when specific criteria are met, which we estimate will be during the three months ended September 30, 2021.
Sale-leasebacks
We entered into a fifth amendment dated March 22, 2021 to our August 2018 agreement and increased the maximum funding amount from $150,000 up to $350,000 and extended the end date of the agreement from May 23, 2021 to March 31, 2022. We sold and leased back one energy asset for $1,087 in cash under this facility during the three months ended March 31, 2021. As of March 31, 2021, approximately $310,618 remained available under this lending commitment. These transactions are accounted for as failed sales and are classified as long-term financing facilities. See Note 7 for additional information.
Net gains from amortization expense in cost of revenues related to deferred gains and losses in connection with our sale-leaseback agreements were $57 and $55 for the three months ended March 31, 2021 and 2020, respectively.
Leases LEASES
The table below sets forth supplemental condensed consolidated balance sheet information related to our leases:
March 31, 2021December 31, 2020
Operating Leases:
Operating lease assets$41,484 $39,151 
Current portions of operating lease liabilities$5,680 6,106 
Long-term portions of operating lease liabilities37,718 35,300 
Total operating lease liabilities$43,398 $41,406 
Weighted-average remaining lease term12 years12 years
Weighted-average discount rate5.81 %5.94 %
Financing Leases:
Energy assets$33,473 $34,005 
Current portions of financing lease liabilities$4,273 4,273 
Long-term financing lease liabilities, net of current portion, unamortized discount and debt issuance costs19,199 19,227 
Total financing lease liabilities$23,472 $23,500 
Weighted-average remaining lease term16 years16 years
Weighted-average discount rate11.93 %11.94 %
The costs related to our leases were as follows:
Three Months Ended March 31,
20212020
Operating Leases:
Operating lease costs$2,153 $1,826 
Financing Leases:
Amortization expense532 532 
Interest on lease liabilities658 801 
Total lease costs$3,343 $3,159 
Supplemental cash flow information related to our leases was as follows:
Three Months Ended March 31,
20212020
Cash paid for amounts included in the measurement of operating lease liabilities$2,423 $1,927 
Right-of-use assets obtained in exchange for new operating lease liabilities$3,773 $906 
The table below sets forth our estimated minimum future lease obligations under our leases:
 Operating LeasesFinancing Leases
Year ended December 31, 
2021$5,970 $6,736 
20227,853 5,178 
20236,510 3,676 
20245,439 2,565 
20254,431 2,213 
Thereafter32,565 21,866 
Total minimum lease payments62,768 42,234 
Less: interest19,370 18,762 
Present value of lease liabilities$43,398 $23,472 
We have a future lease commitment for a certain ground lease which does not yet meet the criteria for recording a ROU asset or ROU liability. The net present value of this commitment totals $3,000 as of March 31, 2021 and relates to a one-time payment due when specific criteria are met, which we estimate will be during the three months ended September 30, 2021.
Sale-leasebacks
We entered into a fifth amendment dated March 22, 2021 to our August 2018 agreement and increased the maximum funding amount from $150,000 up to $350,000 and extended the end date of the agreement from May 23, 2021 to March 31, 2022. We sold and leased back one energy asset for $1,087 in cash under this facility during the three months ended March 31, 2021. As of March 31, 2021, approximately $310,618 remained available under this lending commitment. These transactions are accounted for as failed sales and are classified as long-term financing facilities. See Note 7 for additional information.
Net gains from amortization expense in cost of revenues related to deferred gains and losses in connection with our sale-leaseback agreements were $57 and $55 for the three months ended March 31, 2021 and 2020, respectively.