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LEASE | 12 Months Ended
--- | ---
Dec. 31, 2023
LEASE |
LEASE | 12. LEASE The Company leases manufacturing facilities in various regions where the Company operates. The Company also leases land for construction and operations of solar power systems, and leases office space, office equipment and motor vehicles for its sales and administrative functions. Leased assets are mainly located in the United States, PRC and Europe. The Company capitalizes lease costs to its project assets and solar power systems, when such costs qualify for capitalization as during periods in which activities necessary to get the property ready for its intended use are in progress. The leases considered as ROU assets have various terms of up to 50 years. The Company also has certain leases with terms of 12 months or less, which are not recorded on the consolidated balance sheet. ​ The components of lease expenses were as follows: ​
​ | ​ | ​ | ​ | ​
​ |  | Year ended | ​ | Year ended
​ |  | December 31, 2022 |  | December 31, 2023
​ |  | $ | ​ | $
Finance lease cost: | ​ |  | ​ |
Amortization of ROU assets | ​ | 11,406 | ​ | 49,483
Interest on lease liabilities | ​ | 1,994 | ​ | 5,368
Operating fixed lease cost | ​ | 14,936 | ​ | 24,489
Short-term lease cost | ​ | 1,028 | ​ | 1,824
Total lease cost | ​ | 29,364 | ​ | 81,164
​ Supplemental balance sheet information related to leases was as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | ​ |  | At | ​ | At
​ |  | Balance Sheet Location | ​ | December 31, 2022 |  | December 31, 2023
​ |  | ​ | ​ | $ | ​ | $
Assets: | ​ | ​ | ​ | ​ | ​ | ​
Operating lease assets | ​ | Right-of-use assets | ​ | 35,506 | ​ | 132,786
Land use rights, net | ​ | Right-of use assets | ​ | 68,094 | ​ | 104,221
Total operating lease ROU assets | ​ | ​ | ​ | 103,600 | ​ | 237,007
​ | ​ | ​ | ​ | ​ | ​ | ​
Finance lease assets | ​ | Property, plant and equipment, net | ​ | 41,705 | ​ | 163,553
Total finance lease ROU assets | ​ | ​ | ​ | 41,705 | ​ | 163,553
​ | ​ | ​ | ​ | ​ | ​ | ​
Liabilities: | ​ | ​ | ​ | ​ | ​ | ​
Operating lease | ​ | Operating lease liabilities – current | ​ | 9,810 | ​ | 20,204
Operating lease | ​ | Operating lease liabilities – non-current | ​ | 25,714 | ​ | 116,846
Total operating lease liabilities | ​ | ​ | ​ | 35,524 | ​ | 137,050
​ | ​ | ​ | ​ | ​ | ​ | ​
Finance lease | ​ | Other current liabilities | ​ | 14,697 | ​ | 88,180
Finance lease | ​ | Other non-current liabilities | ​ | 14,372 | ​ | 71,651
Total finance lease liabilities | ​ | ​ | ​ | 29,069 | ​ | 159,831
​ 12. LEASE (Continued) Other supplemental information related to leases was as follows: ​
​ | ​ | ​ | ​ | ​
​ |  | Year ended | ​ | Year ended
​ |  | December 31, 2022 |  | December 31, 2023
​ |  | $ | ​ | $
Cash paid for amounts included in the measurement of lease liabilities | ​ |  | ​ |
Operating cash outflows from finance lease | ​ | (1,994) | ​ | (5,368)
Operating cash outflows from operating lease | ​ | (15,032) | ​ | (19,686)
Financing cash outflows from finance lease | ​ | (20,194) | ​ | (42,319)
ROU assets obtained in exchange of new finance lease liabilities in non-cash transaction | ​ | — | ​ | 167,726
ROU assets obtained in exchange of new operating lease liabilities in non-cash transaction | ​ | 14,393 | ​ | 119,412
ROU assets disposed through early termination of operating leases in non-cash transaction | ​ | (965) | ​ | (3,288)
​
​ | ​ | ​ | ​ | ​ | ​
​ |  | At December 31, |  | At December 31, |
​ |  | 2022 | ​ | 2023 | ​
Weighted average of remaining lease term - finance leases (in years) |  | 1.8 | ​ | 4.0 | ​
Weighted average of remaining lease term - operating leases (in years) |  | 6.6 | ​ | 14.4 | ​
Weighted average of lease discount rate - finance lease |  | 4.9 | % | 5.5 | %
Weighted average of lease discount rate - operating lease |  | 10.4 | % | 5.7 | %
​ As of December 31, 2023, maturities of operating and finance lease liabilities were as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Operating Lease |  | Finance Lease |  | Total Lease
​ | ​ | Payment | ​ | Payment | ​ | Payment
​ | ​ | $ | ​ | $ | ​ | $
Year Ending December 31: | ​ | ​ | ​ | ​ | ​ | ​
2024 |  | 24,927 | ​ | 95,023 | ​ | 119,950
2025 |  | 18,322 | ​ | 30,972 | ​ | 49,294
2026 |  | 15,952 | ​ | 17,411 | ​ | 33,363
2027 |  | 12,351 | ​ | 16,586 | ​ | 28,937
2028 |  | 13,655 | ​ | 15,342 | ​ | 28,997
Thereafter |  | 132,225 | ​ | 3,962 | ​ | 136,187
Total future minimum lease payments |  | 217,432 | ​ | 179,296 | ​ | 396,728
Less: imputed interest |  | 80,382 | ​ | 19,465 | ​ | 99,847
NPV for future minimum lease payments |  | 137,050 | ​ | 159,831 | ​ | 296,881
​ | ​ | ​ | ​ | ​ | ​ | ​
Analysis as: | ​ | ​ | ​ | ​ | ​ | ​
Short-term | ​ | 20,204 | ​ | 88,180 | ​ | 108,384
Long-term | ​ | 116,846 | ​ | 71,651 | ​ | 188,497
Total lease liabilities | ​ | 137,050 | ​ | 159,831 | ​ | 296,881
​

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- Definition The entire disclosure for operating leases of lessee. Includes, but is not limited to, description of operating lease and maturity analysis of operating lease liability. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//842-20/tableOfContent + Details
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