Revenue from Contracts with Customers (Tables)

3 Months Ended

Mar. 31, 2020

Revenue from Contract with Customer [Abstract]

The table below presents the Company’s revenue disaggregated by revenue source (in thousands):


	Three Months Ended
	March 31,
	2019		2020
Volume-related (1)	$	74,528	$	75,060
Station construction sales		3,170		5,522
AFTC (2)		—		5,424
Total revenue	$	77,698	$	86,006

⁽¹⁾

Includes changes in fair value of derivative instruments related to the Company’s commodity swap and customer fueling contracts associated with the Company’s Zero Now truck financing program. The amounts are classified as revenue because the Company’s commodity swap contracts are used to economically offset the risk associated with the diesel-to-natural gas price spread resulting from customer fueling contracts under the Company’s Zero Now truck financing program. See Note 6 for more information about these derivative instruments. For the three months ended March 31, 2019, changes in the fair value of commodity swaps amounted to a loss of $5.0 million. For the three months ended March 31, 2020, changes in the fair value of commodity swaps and customer fueling contracts amounted to a gain of $9.4 million and a loss of $3.8 million, respectively.

⁽²⁾

Represents a federal alternative fuels excise tax credit that we refer to as “AFTC,” which had previously expired but on December 20, 2019 was retroactively extended for vehicle fuel sales made beginning January 1, 2018 through December 31, 2020. See Note 19 for more information.

Summary of contract balances

As of December 31, 2019 and March 31, 2020, the Company’s contract balances were as follows (in thousands):


	December 31,		March 31,
	2019		2020
Accounts receivable, net	$	61,760	$	58,685

Contract assets - current	$	455	$	927
Contract assets - non-current		3,777		3,840
Contract assets - total	$	4,232	$	4,767

Contract liabilities - current	$	5,329	$	5,781
Contract liabilities - non-current		6,339		3,401
Contract liabilities - total	$	11,668	$	9,182