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v3.22.1

Leases | 3 Months Ended
--- | ---
Mar. 31, 2022
Leases [Abstract] |
Leases | LEASES The table below sets forth supplemental condensed consolidated balance sheet information related to our leases:
| March 31, 2022 |  | December 31, 2021
Operating Leases: |  |  |
Operating lease assets | $ | 39,485 |  |  | $ | 41,982 |
Current portions of operating lease liabilities | $ | 6,134 |  |  | $ | 6,276 |
Long-term portions of operating lease liabilities | 32,854 |  |  | 35,135 |
Total operating lease liabilities | $ | 38,988 |  |  | $ | 41,411 |
Weighted-average remaining lease term | 12 years |  | 12 years
Weighted-average discount rate | 5.7 | % |  | 5.7 | %
Financing Leases: |  |  |
Energy assets | $ | 31,521 |  |  | $ | 31,876 |
Current portions of financing lease liabilities | $ | 3,226 |  |  | $ | 3,125 |
Long-term financing lease liabilities, net of current portion, unamortized discount and debt issuance costs | 15,973 |  |  | 16,101 |
Total financing lease liabilities | $ | 19,199 |  |  | $ | 19,226 |
Weighted-average remaining lease term | 15 years |  | 15 years
Weighted-average discount rate | 12.1 | % |  | 12.1 | %
The costs related to our leases were as follows:
| Three Months Ended March 31, |  |
| 2022 |  | 2021 |  |  |  |
Operating Leases: |  |  |  |  |  |  |
Operating lease costs | $ | 2,291 |  |  | $ | 2,153 |  |  |  |  |
Financing Leases: |  |  |  |  |  |  |
Amortization expense | 355 |  |  | 532 |  |  |  |  |
Interest on lease liabilities | 559 |  |  | 658 |  |  |  |  |
Total lease costs | $ | 3,205 |  |  | $ | 3,343 |  |  |  |  |
Supplemental cash flow information related to our leases was as follows:
| Three Months Ended March 31,
| 2022 |  | 2021
Cash paid for amounts included in the measurement of operating lease liabilities | $ | 1,907 |  |  | $ | 2,423 |
Right-of-use assets (“ROU”) obtained in exchange for new operating lease liabilities | $ | 367 |  |  | $ | 3,773 |
The table below sets forth our estimated minimum future lease obligations under our leases:
| Operating Leases |  | Financing Leases
Year ended December 31, |  |  |
2022 | $ | 6,134 |  |  | $ | 5,124 |
2023 | 7,176 |  |  | 3,676 |
2024 | 5,943 |  |  | 2,565 |
2025 | 4,725 |  |  | 2,213 |
2026 | 2,880 |  |  | 2,054 |
Thereafter | 28,615 |  |  | 19,813 |
Total minimum lease payments | 55,473 |  |  | 35,445 |
Less: interest | 16,485 |  |  | 16,246 |
Present value of lease liabilities | $ | 38,988 |  |  | $ | 19,199 |
Sale-leasebacks In March 2022, we entered into an amendment to our August 2018 long-term financing facility which extended the end date of the agreement from March 31, 2022 to June 30, 2022. We sold and leased back two energy assets for $8,201 in cash proceeds under this agreement during the three months ended March 31, 2022. As of March 31, 2022, approximately $220,367 remained available under this lending commitment. In March 2022, we entered into an amendment to our December 2020 long-term financing facility which extended the end date of the agreement from December 31, 2021 to July 15, 2022. We sold and leased back one energy asset for $4,423 in cash proceeds under this facility during three months ended March 31, 2022. As of March 31, 2022, approximately $11,515 remained available under this lending commitment. These transactions are accounted for as failed sale leasebacks and are classified as long-term financing facilities. See Note 7 for additional information. Net gains from amortization expense recognized in cost of revenues relating to deferred gains and losses in connection with our sale-leaseback agreements were $57 for each of the three months ended March 31, 2022 and 2021
Leases | LEASES The table below sets forth supplemental condensed consolidated balance sheet information related to our leases:
| March 31, 2022 |  | December 31, 2021
Operating Leases: |  |  |
Operating lease assets | $ | 39,485 |  |  | $ | 41,982 |
Current portions of operating lease liabilities | $ | 6,134 |  |  | $ | 6,276 |
Long-term portions of operating lease liabilities | 32,854 |  |  | 35,135 |
Total operating lease liabilities | $ | 38,988 |  |  | $ | 41,411 |
Weighted-average remaining lease term | 12 years |  | 12 years
Weighted-average discount rate | 5.7 | % |  | 5.7 | %
Financing Leases: |  |  |
Energy assets | $ | 31,521 |  |  | $ | 31,876 |
Current portions of financing lease liabilities | $ | 3,226 |  |  | $ | 3,125 |
Long-term financing lease liabilities, net of current portion, unamortized discount and debt issuance costs | 15,973 |  |  | 16,101 |
Total financing lease liabilities | $ | 19,199 |  |  | $ | 19,226 |
Weighted-average remaining lease term | 15 years |  | 15 years
Weighted-average discount rate | 12.1 | % |  | 12.1 | %
The costs related to our leases were as follows:
| Three Months Ended March 31, |  |
| 2022 |  | 2021 |  |  |  |
Operating Leases: |  |  |  |  |  |  |
Operating lease costs | $ | 2,291 |  |  | $ | 2,153 |  |  |  |  |
Financing Leases: |  |  |  |  |  |  |
Amortization expense | 355 |  |  | 532 |  |  |  |  |
Interest on lease liabilities | 559 |  |  | 658 |  |  |  |  |
Total lease costs | $ | 3,205 |  |  | $ | 3,343 |  |  |  |  |
Supplemental cash flow information related to our leases was as follows:
| Three Months Ended March 31,
| 2022 |  | 2021
Cash paid for amounts included in the measurement of operating lease liabilities | $ | 1,907 |  |  | $ | 2,423 |
Right-of-use assets (“ROU”) obtained in exchange for new operating lease liabilities | $ | 367 |  |  | $ | 3,773 |
The table below sets forth our estimated minimum future lease obligations under our leases:
| Operating Leases |  | Financing Leases
Year ended December 31, |  |  |
2022 | $ | 6,134 |  |  | $ | 5,124 |
2023 | 7,176 |  |  | 3,676 |
2024 | 5,943 |  |  | 2,565 |
2025 | 4,725 |  |  | 2,213 |
2026 | 2,880 |  |  | 2,054 |
Thereafter | 28,615 |  |  | 19,813 |
Total minimum lease payments | 55,473 |  |  | 35,445 |
Less: interest | 16,485 |  |  | 16,246 |
Present value of lease liabilities | $ | 38,988 |  |  | $ | 19,199 |
Sale-leasebacks In March 2022, we entered into an amendment to our August 2018 long-term financing facility which extended the end date of the agreement from March 31, 2022 to June 30, 2022. We sold and leased back two energy assets for $8,201 in cash proceeds under this agreement during the three months ended March 31, 2022. As of March 31, 2022, approximately $220,367 remained available under this lending commitment. In March 2022, we entered into an amendment to our December 2020 long-term financing facility which extended the end date of the agreement from December 31, 2021 to July 15, 2022. We sold and leased back one energy asset for $4,423 in cash proceeds under this facility during three months ended March 31, 2022. As of March 31, 2022, approximately $11,515 remained available under this lending commitment. These transactions are accounted for as failed sale leasebacks and are classified as long-term financing facilities. See Note 7 for additional information. Net gains from amortization expense recognized in cost of revenues relating to deferred gains and losses in connection with our sale-leaseback agreements were $57 for each of the three months ended March 31, 2022 and 2021
Leases | LEASES The table below sets forth supplemental condensed consolidated balance sheet information related to our leases:
| March 31, 2022 |  | December 31, 2021
Operating Leases: |  |  |
Operating lease assets | $ | 39,485 |  |  | $ | 41,982 |
Current portions of operating lease liabilities | $ | 6,134 |  |  | $ | 6,276 |
Long-term portions of operating lease liabilities | 32,854 |  |  | 35,135 |
Total operating lease liabilities | $ | 38,988 |  |  | $ | 41,411 |
Weighted-average remaining lease term | 12 years |  | 12 years
Weighted-average discount rate | 5.7 | % |  | 5.7 | %
Financing Leases: |  |  |
Energy assets | $ | 31,521 |  |  | $ | 31,876 |
Current portions of financing lease liabilities | $ | 3,226 |  |  | $ | 3,125 |
Long-term financing lease liabilities, net of current portion, unamortized discount and debt issuance costs | 15,973 |  |  | 16,101 |
Total financing lease liabilities | $ | 19,199 |  |  | $ | 19,226 |
Weighted-average remaining lease term | 15 years |  | 15 years
Weighted-average discount rate | 12.1 | % |  | 12.1 | %
The costs related to our leases were as follows:
| Three Months Ended March 31, |  |
| 2022 |  | 2021 |  |  |  |
Operating Leases: |  |  |  |  |  |  |
Operating lease costs | $ | 2,291 |  |  | $ | 2,153 |  |  |  |  |
Financing Leases: |  |  |  |  |  |  |
Amortization expense | 355 |  |  | 532 |  |  |  |  |
Interest on lease liabilities | 559 |  |  | 658 |  |  |  |  |
Total lease costs | $ | 3,205 |  |  | $ | 3,343 |  |  |  |  |
Supplemental cash flow information related to our leases was as follows:
| Three Months Ended March 31,
| 2022 |  | 2021
Cash paid for amounts included in the measurement of operating lease liabilities | $ | 1,907 |  |  | $ | 2,423 |
Right-of-use assets (“ROU”) obtained in exchange for new operating lease liabilities | $ | 367 |  |  | $ | 3,773 |
The table below sets forth our estimated minimum future lease obligations under our leases:
| Operating Leases |  | Financing Leases
Year ended December 31, |  |  |
2022 | $ | 6,134 |  |  | $ | 5,124 |
2023 | 7,176 |  |  | 3,676 |
2024 | 5,943 |  |  | 2,565 |
2025 | 4,725 |  |  | 2,213 |
2026 | 2,880 |  |  | 2,054 |
Thereafter | 28,615 |  |  | 19,813 |
Total minimum lease payments | 55,473 |  |  | 35,445 |
Less: interest | 16,485 |  |  | 16,246 |
Present value of lease liabilities | $ | 38,988 |  |  | $ | 19,199 |
Sale-leasebacks In March 2022, we entered into an amendment to our August 2018 long-term financing facility which extended the end date of the agreement from March 31, 2022 to June 30, 2022. We sold and leased back two energy assets for $8,201 in cash proceeds under this agreement during the three months ended March 31, 2022. As of March 31, 2022, approximately $220,367 remained available under this lending commitment. In March 2022, we entered into an amendment to our December 2020 long-term financing facility which extended the end date of the agreement from December 31, 2021 to July 15, 2022. We sold and leased back one energy asset for $4,423 in cash proceeds under this facility during three months ended March 31, 2022. As of March 31, 2022, approximately $11,515 remained available under this lending commitment. These transactions are accounted for as failed sale leasebacks and are classified as long-term financing facilities. See Note 7 for additional information. Net gains from amortization expense recognized in cost of revenues relating to deferred gains and losses in connection with our sale-leaseback agreements were $57 for each of the three months ended March 31, 2022 and 2021

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