Quarterly report pursuant to Section 13 or 15(d)

Goodwill and Intangible Assets (Tables)

v3.22.2.2
Goodwill and Intangible Assets (Tables)
 6 Months Ended
Jun. 30, 2022
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Finite-Lived Intangible Assets
Intangible assets consist of the following as of June 30, 2022 and December 31, 2021:
(in thousands)
 June 30, 2022
Gross Carrying
Amount
Accumulated
Amortization
Net
Biogas rights agreements
 $ 612,461  $ 22,814  $ 589,647 
Electricity off-take agreements 26,511  2,344  24,167 
O&M contracts
 8,620  460  8,160 
RNG purchase contract 10,290  5,291  4,999 
Trade names and customer relationships
 500  250  250 
Total
 $ 658,382  $ 31,159  $ 627,223 
(in thousands)
 December 31, 2021
Gross Carrying
Amount
Accumulated
Amortization
Net
Biogas rights agreements
 $ 603,868  $ 8,237  $ 595,631 
Electricity off-take agreements 26,511  749  25,762 
O&M contracts
 8,620  173  8,447 
RNG purchase contract 10,290  1,959  8,331 
Trade names and customer relationships
 500  200  300 
Total
 $ 649,789  $ 11,318  $ 638,471 
Schedule of Below-Market Contract Liability The contracts were recorded at fair value and are classified as other long-term liabilities on the Company’s consolidated balance sheets as of June 30, 2022 and December 31, 2021:
June 30, 2022
Gross Liability
Accumulated
Amortization
Net
Gas off-take agreements
 $ 146,990  $ 11,780  $ 135,210 
December 31, 2021
Gross Liability
Accumulated
Amortization
Net
Gas off-take agreements
 $ 146,990  $ 4,360  $ 142,630