Deposits and Other Assets |
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| Deposits and Other Assets | 14. Deposits and Other Assets The following table sets forth the components of the Company’s deposits and other assets (in thousands) as of:
_______________________________________________________________ (1)The Company directly holds a 3.6% interest in the Series A Preferred Stock of Zero6 Clean Energy Assets, Inc. (“Zero6”), formerly known as Juhl Clean Energy Assets, Inc., which is not a publicly listed entity with a readily determinable fair value. The Company therefore measures the securities at cost. This ownership interest is also pledged as collateral against two future obligations to Rock County Wind Fuel, LLC (“RCWF”), a Zero6 subsidiary. (2)Deposits provided to a wind project developer and power utility contractor for the design and construction of power generation, transmission, and distribution facilities. These deposits are reimbursable pursuant to the related contractual arrangements, and the Company holds contractual priority liens on the related equipment and constructed facilities. However, as discussed in Note 3, Impairment of Long-Lived Assets, as a result of management's strategic review during the three months ended June 30, 2026, the Company determined that the ATJ-60 project, together with these related development initiatives, would not be advanced. In accordance with ASC 326, Financial Instruments-Credit Losses, the Company assessed the recoverability of the Deposits receivable balance. The expected credit loss was determined based upon the amount that the Company estimated will be reimbursed. During the three and six months ended June 30, 2026, the Company recorded an allowance for credit losses of $39.8 million, representing the portion of the balance not expected to be recovered. The write-off is included in Allowance for credit losses on refundable deposits within operating expenses in the Condensed Consolidated Statement of Operations. (3)Expenditures related to the feedstock agreements.
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