Leases (Tables)

3 Months Ended

Mar. 31, 2019

Leases [Abstract]

Lease, Cost

The following table presents additional information pertaining to the Company’s leases:

	Three Months Ended March 31, 2019
(in thousands of dollars)	Solar Panel Leases		Ground Leases		Office, equipment, and vehicle leases		Total
Finance lease cost:
Amortization of right-of-use assets	$	188	$	—	$	—	$	188
Interest on lease liabilities	76		—		—		76
Operating lease costs	—		439		542		981
Variable lease costs	—		41		45		86
Total lease costs	$	264	$	480	$	587	$	1,331

Supplemental Cash Flows

Other information related to leases as of and for the three months ended March 31, 2019 is as follows:

(in thousands of dollars)
Cash paid for the amounts included in the measurement of lease liabilities
Operating cash flows from finance leases	$	76
Operating cash flows from operating leases	$	593
Financing cash flows from finance leases	$	155
Weighted average remaining lease term-finance leases (months)	108
Weighted average remaining lease term-operating leases (months)	342
Weighted average discount rate-finance leases	4.41		%
Weighted average discount rate-operating leases	6.63		%

Finance Lease, Liability, Maturity

payments against lease liabilities as of March 31, 2019 are as follows:

(in thousands of dollars)	Finance leases			Operating leases			Total
April 1 to December 31, 2019	$	694		$	2,346		$	3,040
2020	925			1,979			2,904
2021	925			1,906			2,831
2022	925			1,625			2,550
2023	925			1,587			2,512
Thereafter	3,923			48,437			52,360
Total undiscounted lease payments	8,317			57,880			66,197
Less imputed interest	(1,462		)	(33,773		)	(35,235		)
Total lease liabilities	$	6,855		$	24,107		$	30,962

Lessee, Operating Lease, Liability, Maturity

payments against lease liabilities as of March 31, 2019 are as follows:

(in thousands of dollars)	Finance leases			Operating leases			Total
April 1 to December 31, 2019	$	694		$	2,346		$	3,040
2020	925			1,979			2,904
2021	925			1,906			2,831
2022	925			1,625			2,550
2023	925			1,587			2,512
Thereafter	3,923			48,437			52,360
Total undiscounted lease payments	8,317			57,880			66,197
Less imputed interest	(1,462		)	(33,773		)	(35,235		)
Total lease liabilities	$	6,855		$	24,107		$	30,962

Schedule of Future Minimum Rental Payments for Operating Leases

Future minimum lease payments under these agreements as of December 31, 2018 were as follows:

Year Ending December 31,	Finance leases		Operating leases		Total
2019	$	925	$	3,007	$	3,932
2020	925		1,845		2,770
2021	925		1,856		2,781
2022	925		1,673		2,598
2023	925		1,593		2,518
Thereafter	3,923		33,959		37,882
	$	8,548	$	43,933	$	52,481

Schedule of Future Minimum Lease Payments for Capital Leases

Future minimum lease payments under these agreements as of December 31, 2018 were as follows:

Year Ending December 31,	Finance leases		Operating leases		Total
2019	$	925	$	3,007	$	3,932
2020	925		1,845		2,770
2021	925		1,856		2,781
2022	925		1,673		2,598
2023	925		1,593		2,518
Thereafter	3,923		33,959		37,882
	$	8,548	$	43,933	$	52,481

Lessor, Operating Lease, Payments to be Received, Maturity

As of March 31, 2019, the fixed contractual lease payments, including minimum rents and fixed CAM amounts, to be received over the next five years pursuant to the terms of noncancellable operating leases with initial terms greater than one year are included in the table below. The amounts presented assume that no leases are renewed and no renewal options are exercised. Additionally, the table does not include variable lease payments that may be received under certain leases for percentage rents or the reimbursement of operating costs, such as common area expenses, utilities, insurance and real estate taxes. These variable lease payments are recognized in the period when the applicable expenditures are incurred or in the case of percentage rents when the sales data is made available.

(in thousands of dollars)
April 1 to December 31, 2019	$	166,726
2020	207,390
2021	190,026
2022	170,143
2023	150,672
Thereafter	523,579
	$	1,408,536