Finite-Lived Intangible Assets and Liabilities and Goodwill (Notes)
 3 Months Ended
Mar. 31, 2018
Goodwill and Intangible Assets Disclosure [Abstract]  
Finite-Lived Intangible Assets and Liabilities and Goodwill
6.    Finite-Lived Intangible Assets and Liabilities and Goodwill
Finite-Lived Intangible Assets and Liabilities
The following presents the major components of the finite-lived intangible assets and liabilities (in thousands):
 
 
March 31, 2018
 
 
Weighted Average Remaining Life
 
Gross
 
Accumulated Amortization
 
Net
Intangible assets
 
 
 
 
 
 
 
 
Power purchase agreements
 
16
 
$
229,502

 
$
(19,848
)
 
$
209,654

Industrial revenue bond tax savings
 
24
 
12,778

 
(479
)
 
12,299

Other intangible assets
 
34
 
15,234

 
(1,235
)
 
13,999

Total intangible assets
 
 
 
$
257,514

 
$
(21,562
)
 
$
235,952

Intangible liabilities
 
 
 
 
 
 
 
 
Power purchase agreement
 
15
 
$
60,300

 
$
(9,973
)
 
$
50,327

Leasehold interest
 
23
 
9,252

 
—

 
9,252

Total intangible liabilities
 
 
 
$
69,552

 
$
(9,973
)
 
$
59,579


 
 
December 31, 2017
 
 
Weighted Average Remaining Life
 
Gross
 
Accumulated Amortization
 
Net
Intangible assets
 
 
 
 
 
 
 
 
Power purchase agreement
 
15
 
$
127,084

 
$
(17,611
)
 
$
109,473

Industrial revenue bond tax savings
 
24
 
12,778

 
(351
)
 
12,427

Other intangible assets
 
34
 
15,234

 
(1,086
)
 
14,148

Total intangible assets
 
 
 
$
155,096

 
$
(19,048
)
 
$
136,048

Intangible liability
 
 
 
 
 
 
 
 
Power purchase agreement
 
15
 
$
60,300

 
$
(9,106
)
 
$
51,194


The Company presents amortization of the PPA assets and PPA liabilities as an offset to electricity sales in the consolidated statements of operations, which resulted in net expense of $1.4 million and $0.7 million for the three months ended March 31, 2018 and 2017, respectively. For other intangible assets, the Company includes the amortization in depreciation, amortization and accretion in the consolidated statements of operations and recorded amortization expense of $0.1 million and $0.1 million for the three months ended March 31, 2018 and 2017, respectively.
As part of the 2017 Broadview acquisition, the Company acquired an intangible asset related to future property tax savings resulting from the issuance of industrial revenue bonds during construction of the project. The intangible asset is being amortized to depreciation, amortization and accretion in the consolidated statements of operations. The Company recorded amortization expense of $0.1 million for the three months ended March 31, 2018 related to the industrial revenue bond tax savings intangible asset. The Company did not record any amortization expense for the three months ended March 31, 2017 as the Broadview Project was acquired in May 2017.
As a result of the Japan Acquisition, the Company recorded $103.2 million of intangible PPA assets resulting from market prices that are lower than the contractual prices. In addition, the Company recorded a $9.3 million intangible leasehold interest liability, as a result of higher market prices compared to the contractual prices, which is being amortized to depreciation, amortization and accretion in the consolidated statements of operations.
The following table presents estimated future amortization for the next five years related to the Company's finite-lived intangible assets and liabilities (in thousands):
Year ended December 31,
 
Power purchase agreements, net
 
Industrial revenue bond tax savings
 
Other intangible assets
 
Leasehold interests
2018 (remainder)
 
$
7,597

 
$
385

 
$
454

 
$
(303
)
2019
 
10,011

 
513

 
605

 
(404
)
2020
 
10,049

 
513

 
605

 
(404
)
2021
 
10,011

 
513

 
605

 
(404
)
2022
 
10,011

 
513

 
605

 
(404
)
Thereafter
 
111,648

 
9,862

 
11,125

 
(7,333
)
Goodwill
In connection with the Japan Acquisition, deferred tax liabilities were established for acquisition accounting fair value adjustments as the future accretion of the fair value adjustments represents temporary differences between book income and taxable income. These fair value adjustments resulted in goodwill of $60.3 million being recorded.