Quarterly report pursuant to Section 13 or 15(d)

Goodwill and Intangible Assets (Tables)

v3.22.2.2
Goodwill and Intangible Assets (Tables)
9 Months Ended
Sep. 30, 2022
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Finite-Lived Intangible Assets
Intangible assets consist of the following as of September 30, 2022 and December 31, 2021:
(in thousands)
September 30, 2022
Gross Carrying
Amount
Accumulated
Amortization
Net
Biogas rights agreements
$ 994,170  $ 31,387  $ 962,783 
Electricity off-take agreements 28,631  3,202  25,429 
O&M contracts
8,620  604  8,016 
RNG purchase contract 10,290  6,956  3,334 
Trade names and customer relationships
500  275  225 
Total
$ 1,042,211  $ 42,424  $ 999,787 
(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 September 30, 2022 and December 31, 2021:
September 30, 2022
Gross Liability
Accumulated
Amortization
Net
Gas off-take agreements
$ 146,990  $ 15,490  $ 131,500 
Power off-take agreement 1,140  14  1,126 
Total $ 148,130  $ 15,504  $ 132,626 
December 31, 2021
Gross Liability
Accumulated
Amortization
Net
Gas off-take agreements
$ 146,990  $ 4,360  $ 142,630