XML 59 R46.htm IDEA: XBRL DOCUMENT v3.24.3
Leases (Tables)
 9 Months Ended
Sep. 30, 2024
Leases [Abstract]  
Schedule of Lease Cost and Additional Information
The following table provides information related to our lease costs (dollars in thousands):

Three Months Ended
September 30,		Nine Months Ended
September 30,
2024202320242023
Operating Lease Cost - Purchased Power & Energy Storage Lease Contracts$89,410 $81,456 $129,738 $117,111 
Operating Lease Cost - Land, Property, and Other Equipment5,110 4,820 14,908 14,394 
Total Operating Lease Cost94,520 86,276 144,646 131,505 
Variable Lease Cost (a)51,835 48,572 121,182 113,296 
Short-term Lease Cost10,604 9,114 19,849 17,918 
Total Lease Cost$156,959 $143,962 $285,677 $262,719 

(a)     Primarily relates to purchased power lease contracts.
The following tables provide other additional information related to operating lease liabilities (dollars in thousands):
Nine Months Ended
September 30, 2024		Nine Months Ended September 30, 2023
Cash paid for amounts included in the measurement of lease liabilities — operating cash flows:$101,213 $89,304 
Right-of-use operating lease assets obtained in exchange for operating lease liabilities:384,593 (a)599,281 (b)

September 30, 2024December 31, 2023
Weighted average remaining lease term12 years10 years
Weighted average discount rate (c)4.90 %4.53 %

(a)    Primarily relates to the three new energy storage operating lease agreements that commenced in 2024.
(b)    Primarily relates to the two purchased power operating lease agreements that were modified in January 2023.
(c)    Most of our lease agreements do not contain an implicit rate that is readily determinable. For these agreements, we use our incremental borrowing rate to measure the present value of lease liabilities. We determine our incremental borrowing rate at lease commencement based on the rate of interest that we would have to pay to borrow, on a collateralized basis over a similar term, an amount equal to the lease payments in a similar economic environment. We use the implicit rate when it is readily determinable.
Schedule of Future Minimum Payments
The following table provides information related to the maturity of our operating lease liabilities (dollars in thousands):
September 30, 2024
YearPurchased Power & Energy Storage Lease ContractsLand, Property & Equipment LeasesTotal
2024 (remaining three months of 2024)$38,470 $4,268 $42,738 
2025158,362 15,144 173,506 
2026172,087 12,829 184,916 
2027198,007 10,280 208,287 
2028201,804 7,718 209,522 
2029205,741 5,647 211,388 
Thereafter1,140,971 61,381 1,202,352 
Total lease commitments2,115,442 117,267 2,232,709 
Less imputed interest555,212 41,359 596,571 
Total lease liabilities$1,560,230 $75,908 $1,636,138