Leases (Tables)

3 Months Ended

Mar. 31, 2022

Leases [Abstract]

Lease, Cost

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

	Three Months Ended March 31,
	2022								2021
(in thousands of dollars)	Solar Panel Leases		Ground Leases		Office, equipment, and vehicle leases		Total		Solar Panel Leases		Ground Leases		Office, equipment, and vehicle leases		Total
Finance lease cost:
Amortization of right-of-use assets	$	202	$	—	$	—	$	202	$	202	$	—	$	—	$	202
Interest on lease liabilities		78		—		—		78		63		—		—		63
Operating lease costs		—		585		68		653		—		436		311		747
Variable lease costs		—		46		206		252		—		45		63		108
Total lease costs	$	280	$	631	$	274	$	1,185	$	265	$	481	$	374	$	1,120

Supplemental Cash Flows and Terms

Other information related to leases as of and for the three months ended March 31, 2022 and 2021 are as follows:

(in thousands of dollars)	2022			2021
Cash paid for the amounts included in the measurement of lease liabilities
Operating cash flows used for finance leases	$	63		$	63
Operating cash flows used for operating leases	$	653		$	552
Financing cash flows used for finance leases	$	185		$	184
Weighted average remaining lease term-finance leases (months)		72			83
Weighted average remaining lease term-operating leases (months)		292			296
Weighted average discount rate-finance leases		4.34	%		4.35	%
Weighted average discount rate-operating leases		6.44	%		6.44	%

Future Minimum Payments Against Lease Liabilities Which Recorded in Accrued Expenses and Other Liabilities

Future payments against lease liabilities, which are recorded in Accrued expenses and other liabilities, as of March 31, 2022 are as follows:

(in thousands of dollars)	Finance leases			Operating leases			Total
April 1 to December 31, 2022	$	740		$	1,951		$	2,691
2023		983			2,556			3,539
2024		949			2,471			3,420
2025		929			2,427			3,356
2026		925			2,429			3,354
Thereafter		1,148			48,658			49,806
Total undiscounted lease payments		5,674			60,492			66,166
Less imputed interest		(686	)		(31,147	)		(31,833	)
Total lease liabilities	$	4,988		$	29,345		$	34,333

Lessor, Operating Lease, Payments to be Received, Maturity

As of March 31, 2022, 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 noncancelable 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, 2022	$	138,433
2023		167,308
2024		144,553
2025		115,992
2026		96,854
Thereafter		248,425
	$	911,565