Indebtedness (Tables)

3 Months Ended

Mar. 31, 2020

Debt Disclosure [Abstract]

Schedule of debt

As of March 31, 2020, debt consisted of the following (in thousands, except percentages):

	Carrying Values, net of debt discount						Unused Borrowing Capacity(2)		Interest Rate (1)	Maturity Date
	Current		Long Term		Total
Recourse debt:
Bank line of credit	$	—	$	237,960	$	237,960	$	—	4.04% - 5.10%	April 2022
Total recourse debt	—		237,960		237,960		—
Non-recourse debt:
Senior	31,205		749,810		781,015		291		3.44% - 5.61%	April 2022 - July 2027
Subordinated	12,510		538,267		550,777		—		6.78% - 10.65%	March 2023 - July 2030
Securitization Class A	27,298		832,186		859,484		—		3.61% - 5.31%	July 2024 - February 2055
Securitization Class B	495		8,577		9,072		—		5.38%	July 2024
Total non-recourse debt	71,508		2,128,840		2,200,348		291
Total debt	$	71,508	$	2,366,800	$	2,438,308	$	291

⁽¹⁾  Reflects contractual, unhedged rates. See Note 9, Derivatives for hedge rates.

⁽²⁾ Represents the additional amount the Company could borrow, if any, based on the state of its existing assets as of March 31, 2020. For a description of the amount of capital commitments the Company can draw from as it constructs new assets, please see Item 2. Management’s Discussion and Analysis of Financial Conditions and Result of Operations, Debt and Financing Fund Commitments.

As of December 31, 2019, debt consisted of the following (in thousands, except percentages):

	Carrying Values, net of debt discount						Unused Borrowing Capacity		Interest Rate (1)	Maturity Date
	Current		Long Term		Total
Recourse debt:
Bank line of credit	$	—	$	239,485	$	239,485	$	—	5.09% - 5.38%	April 2022
Total recourse debt	—		239,485		239,485		—
Non-recourse debt:
Senior	8,020		617,499		625,519		14,639		3.94% - 5.61%	April 2022 - July 2027
Subordinated	—		513,938		513,938		—		6.93% - 10.80%	March 2023 - July 2030
Securitization Class A	26,838		839,981		866,819		—		3.61% - 5.31%	July 2024 - February 2055
Securitization Class B	490		8,689		9,179		—		5.38%	July 2024
Total non-recourse debt	35,348		1,980,107		2,015,455		14,639
Total debt	$	35,348	$	2,219,592	$	2,254,940	$	14,639

⁽¹⁾  Reflects contractual, unhedged rates. See Note 9, Derivatives for hedge rates.