Intangible Assets

6 Months Ended

Jun. 30, 2016

Finite-Lived Intangible Assets, Net [Abstract]

Intangible Assets

INTANGIBLE ASSETS

The following table presents the gross carrying amount and accumulated amortization of intangible assets as of June 30, 2016:

(In thousands, except weighted average amortization period)	Remaining Weighted Average Amortization Period (Years)	Gross Carrying Amount		Accumulated Amortization			Accumulated Currency Translation Adjustment			Net Book Value
In-place value of market rate revenue contracts	19	$	84,643	$	(3,537	)	$	(11,052	)	$	70,054

The following table presents the gross carrying amount and accumulated amortization of intangibles as of December 31, 2015:

(In thousands, except weighted average amortization period)	Remaining Weighted Average Amortization Period (Years)	Gross Carrying Amount		Accumulated Amortization			Accumulated Currency Translation Adjustment			Net Book Value
In-place value of market rate revenue contracts	20	$	84,643	$	(1,632	)	$	(12,381	)	$	70,630

As of June 30, 2016, the Company had PPAs that were obtained through acquisitions (see Note 3 - Acquisitions). Revenue contracts are amortized on a straight line basis over the useful life of the agreements, which range from 20 to 25 years as of June 30, 2016. Amortization expense related to the revenue contracts is recognized in the unaudited condensed consolidated statements of operations as either a reduction or increase of revenue when the contract rate is above or below market rates (favorable or unfavorable) or within depreciation, accretion and amortization expense when the contract rate is equal to market rates (in-place). The amortization expense for the three and six months ended June 30, 2016 was $1.0 million and $1.9 million, respectively. For the three and six month periods ended June 30, 2016, $0.2 million and $0.4 million, respectively, was recorded as a reduction of revenue and $0.8 million and $1.5 million, respectively, was recorded within the depreciation, accretion, and amortization line item in the consolidated statement of operations.