Leases (Tables)

3 Months Ended

Mar. 31, 2021

The following table presents additional information pertaining to the Company’s leases:

	Three Months Ended March 31,
	2021								2020
(in thousands of dollars)	Solar Panel Leases		Ground Leases		Office, equipment, and vehicle leases		Total		Solar Panel Leases		Ground Leases		Office, equipment, and vehicle leases		Total
Finance lease cost:
Amortization of right-of-use assets	$	202	$	—	$	—	$	202	$	204	$	—	$	—	$	204
Interest on lease liabilities		63		—		—		63		79		—		—		79
Operating lease costs		—		436		311		747		—		436		342		778
Variable lease costs		—		45		63		108		—		43		43		86
Total lease costs	$	265	$	481	$	374	$	1,120	$	283	$	479	$	385	$	1,147

Supplemental Cash Flows and Terms

Other information related to leases as of and for the three months ended March 31, 2021 and 2020 are as follows:

(in thousands of dollars)	2021			2020
Cash paid for the amounts included in the measurement of lease liabilities
Operating cash flows used for finance leases	$	63		$	70
Operating cash flows used for operating leases	$	552		$	492
Financing cash flows used for finance leases	$	184		$	173
Weighted average remaining lease term-finance leases (months)		83			95
Weighted average remaining lease term-operating leases (months)		296			306
Weighted average discount rate-finance leases		4.35	%		4.37	%
Weighted average discount rate-operating leases		6.44	%		6.43	%

Future Minimum Payments Against Lease Liabilities Maturity

Future payments against lease liabilities as of March 31, 2021 are as follows:

(in thousands of dollars)	Finance leases			Operating leases			Total
April 1 to December 31, 2021	$	742		$	1,992		$	2,734
2022		988			2,560			3,548
2023		983			2,514			3,497
2024		949			2,429			3,378
2025		929			2,341			3,270
Thereafter		2,072			51,138			53,210
Total undiscounted lease payments		6,663			62,974			69,637
Less imputed interest		(920	)		(32,948	)		(33,868	)
Total lease liabilities	$	5,743		$	30,026		$	35,769

Lessor, Operating Lease, Payments to be Received, Maturity

As of March 31, 2021, the fixed contractual lease payments, including minimum rents and fixed CAM amounts, to be received over the next five years pursuant to the terms of noncancelable operating leases with initial terms greater than one year are included in the table below. The amounts presented assume that no leases are renewed and no renewal options are exercised. Additionally, the table does not include variable lease payments that may be received under certain leases for percentage rents or the reimbursement of operating costs, such as common area expenses, utilities, insurance and real estate taxes. These variable lease payments are recognized in the period when the applicable expenditures are incurred or, in the case of percentage rents, when the sales data is made available.

(in thousands of dollars)
April 1 to December 31, 2021	$	141,799
2022		173,559
2023		153,082
2024		130,665
2025		104,533
Thereafter		283,669
	$	987,307