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Project Assets
3 Months Ended
Jan. 31, 2020
Project Assets [Abstract]  
Project Assets

Note 6.  Project Assets

Project assets as of January 31, 2020 and October 31, 2019 were $147.9 million and $144.1 million, respectively.  Project assets as of January 31, 2020 and October 31, 2019 included seven completed, commissioned installations generating power with respect to which the Company has a PPA with an aggregate carrying value of $56.3 million and $71.8 million as of January 31, 2020 and October 31, 2019, respectively.  Certain of these assets are the subject of sale-leaseback arrangements with PNC, which are accounted for under the financing method.  Project asset depreciation was approximately $2.6 million and $1.1 million for the three months ended January 31, 2020 and 2019, respectively.

The Project assets balance as of January 31, 2020 and October 31, 2019 also includes installations with an aggregate value of 76.1 million and $84.9 million, respectively, which are being developed and constructed by the Company under existing PPAs that have not been placed in service.

Project construction costs incurred for long-term project assets are reported as investing activities in the Consolidated Statements of Cash Flows. The proceeds received from the sale and subsequent leaseback of project assets are classified as “Cash flows from financing activities” within the Consolidated Statements of Cash Flows and are classified as a financing obligation within “Current portion of long-term debt” and “Long-term debt and other liabilities” on the Consolidated Balance Sheets (refer to Note 16. “Debt and Financing Obligation” for more information).