XML 29 R15.htm IDEA: XBRL DOCUMENT

Project Assets	9 Months Ended
Jul. 31, 2019
Project Assets [Abstract]
Project Assets	Note 8. Project Assets Project assets as of July 31, 2019 and October 31, 2018 were $156.4 million and $99.6 million, respectively. Project assets as of July 31, 2019 and October 31, 2018 included six and five, respectively, completed, commissioned installations generating power with respect to which the Company has a PPA with an aggregate carrying value of $62.3 million and $28.6 million as of July 31, 2019 and October 31, 2018, respectively. Certain of these assets are the subject of sale-leaseback arrangements with PNC, which are accounted for under the financing method. The increase in project assets between October 31, 2018 and July 31, 2019 is primarily a result of the acquisition of the Bridgeport Fuel Cell Project. Project asset depreciation was approximately $2.4 million and $1.1 million for the three months ended July 31, 2019 and 2018, respectively, and was approximately $4.4 million and $3.1 million for the nine months ended July 31, 2019 and 2018, respectively. The Project assets balance as of July 31, 2019 and October 31, 2018 also includes installations with an aggregate value of $94.1 million and $71.0 million, respectively, which are being developed and constructed by the Company under existing PPAs that have not been placed in service. Project construction costs incurred for the project assets are reported as investing activities in the Consolidated Statements of Cash Flows. The proceeds received from the sale and subsequent leaseback of project assets are classified as a financing obligation within “Current portion of long-term debt” and “Long-term debt and other liabilities” on the Consolidated Balance Sheets (refer to Note 17. “Debt and Financing Obligation” for more information).

Project Assets

9 Months Ended

Jul. 31, 2019

Note 8. Project Assets

Project assets as of July 31, 2019 and October 31, 2018 were $156.4 million and $99.6 million, respectively. Project assets as of July 31, 2019 and October 31, 2018 included six and five, respectively, completed, commissioned installations generating power with respect to which the Company has a PPA with an aggregate carrying value of $62.3 million and $28.6 million as of July 31, 2019 and October 31, 2018, respectively. Certain of these assets are the subject of sale-leaseback arrangements with PNC, which are accounted for under the financing method. The increase in project assets between October 31, 2018 and July 31, 2019 is primarily a result of the acquisition of the Bridgeport Fuel Cell Project. Project asset depreciation was approximately $2.4 million and $1.1 million for the three months ended July 31, 2019 and 2018, respectively, and was approximately $4.4 million and $3.1 million for the nine months ended July 31, 2019 and 2018, respectively.

The Project assets balance as of July 31, 2019 and October 31, 2018 also includes installations with an aggregate value of $94.1 million and $71.0 million, respectively, which are being developed and constructed by the Company under existing PPAs that have not been placed in service.

Project construction costs incurred for the project assets are reported as investing activities in the Consolidated Statements of Cash Flows. The proceeds received from the sale and subsequent leaseback of project assets are classified as a financing obligation within “Current portion of long-term debt” and “Long-term debt and other liabilities” on the Consolidated Balance Sheets (refer to Note 17. “Debt and Financing Obligation” for more information).