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Balance Sheet Components (Tables)
6 Months Ended
May 31, 2017
Balance Sheet Related Disclosures [Abstract]  
Net Investment in Sales-type Leases
The Partnership’s net investment in sales-type leases presented in “Accounts receivable and short-term financing receivables, net” and “Long-term financing receivables, net” on the unaudited condensed consolidated balance sheets is as follows:
 
As of
(in thousands)
May 31, 2017
 
November 30, 2016
Minimum lease payment receivable, net (1)
$
97,169

 
$
100,161

Unguaranteed residual value
12,887

 
12,926

Less: unearned income
(29,021
)
 
(30,557
)
Net financing receivables
$
81,035

 
$
82,530

Short-term financing receivables, net (2)
$
2,580

 
$
2,516

Long-term financing receivables, net
$
78,455

 
$
80,014

 
(1)
Allowance for losses on financing receivables was $0.6 million and $0.7 million as of May 31, 2017 and November 30, 2016, respectively.
(2)
Accounts receivable and short-term financing receivables, net on the unaudited condensed consolidated balance sheets includes other trade accounts receivable of $6.0 million and $2.9 million as of May 31, 2017 and November 30, 2016, respectively.
Schedule of Current and Non-Current Assets
 
As of
(in thousands)
May 31, 2017
 
November 30, 2016
Prepaid expense and other current assets
 
 
 
Reimbursable network upgrade costs (1)
$
7,752

 
$
13,870

Other current assets (2)
1,822

 
1,875

Total
$
9,574

 
$
15,745

Property and equipment, net
 
 
 
Utility solar power systems
625,195

 
578,817

Leased solar power systems
137,344

 
137,475

Land
1,020

 
1,020

Construction-in-progress (3)
3,335

 
36,981

 
$
766,894

 
$
754,293

Less: accumulated depreciation
(47,522
)
 
(34,161
)
Total
$
719,372

 
$
720,132

Other long-term assets
 
 
 
Reimbursable network upgrade costs (1)
$
20,709

 
$
21,781

Intangible assets (4)
1,539

 
1,754

Derivative financial instruments
1,530

 
897

Total
$
23,778

 
$
24,432

 
(1)
For the Kingbird Project and the Quinto Project, the construction costs related to the network upgrade of a transmission grid belonging to a utility company are reimbursable by that utility company over five years from the date the project reached commercial operation.
(2)
Other current assets included $0.3 million due from SunPower related to system output performance warranties and system repairs in connection with $0.1 million of system output performance warranty accrual and $0.2 million of system repairs accrual recorded in the “Accounts payable and other current liabilities” line item on the unaudited condensed consolidated balance sheets as of May 31, 2017. Similarly, other current assets included $0.5 million due from SunPower related to system output performance warranties and system repairs in connection with $0.2 million of system output performance warranty accrual and $0.3 million of system repairs accrual recorded in the “Accounts payable and other current liabilities” line item on the consolidated balance sheet as of November 30, 2016.
(3)
Construction-in-progress is the project assets related to the Kern Phase 1(a) Assets.
(4)
Intangible assets represent a customer contract intangible that is amortized on a straight-line basis beginning on COD through the contract term end date of December 31, 2020. Operating revenues were reduced by $0.1 million and $0.2 million in the three and six months ended May 31, 2017, respectively. Operating revenues were not affected by intangible assets in the three and six months ended May 31, 2016.
Schedule of Current Liabilities
 
As of
(in thousands)
May 31, 2017
 
November 30, 2016
Accounts payable and other current liabilities
 
 
 
Trade and accrued accounts payable
$
993

 
$
1,089

Related party payable (1)
7,043

 
20,653

System output performance warranty
64

 
196

Residential lease system repairs accrual
239

 
331

Other short-term liabilities
912

 
1,502

Total
$
9,251

 
$
23,771

 
(1)
Related party payable on the unaudited condensed consolidated balance sheets as of May 31, 2017 consists of (i) $5.8 million related to the purchase price payable to SunPower, which will be funded by tax equity investors for the Kern Phase 1(a) Acquisition and the Kern Phase 2(b) Acquisition; (ii) $0.8 million related to accrued distribution to tax equity investors; and (iii) $0.4 million for accounts payable to related parties associated with O&M, AMA and MSA fees owed to the Sponsors. Related party payable on the consolidated balance sheets as of November 30, 2016 consists of (i) $19.5 million related to the purchase price payable to SunPower for the Kern Phase 1(a) Acquisition, the Kern Phase 1(b) Acquisition, the Kern Phase 2(a) Acquisition and the Macy’s Maryland Acquisition; (ii) $1.0 million related to accrued distribution to tax equity investors; and (iii) $0.1 million for accounts payable to related parties associated with O&M, AMA and MSA fees owed to the Sponsors.