Quarterly report pursuant to Section 13 or 15(d)

Other Non-Current Assets

v3.19.3
Other Non-Current Assets
 9 Months Ended
Sep. 30, 2019
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]  
Other Non-Current Assets
NOTE 5 — OTHER NON-CURRENT ASSETS
Other non-current assets consist of the following (in thousands):
 
September 30, 2019
 
December 31, 2018
Land lease and purchase options
$
4,822

 
$
4,115

Permitting costs
12,838

 
12,585

Right of use asset - leases (Note 14)
16,381

 
—

Other
2,612

 
1,959

Total other non-current assets
$
36,653

 
$
18,659


Land Lease and Purchase Options
We hold lease and purchase option agreements (the “Options”) for certain tracts of land and associated river frontage that provide for four or five-year terms. Upon exercise of the Options, the leases are subject to maximum terms of 60 years, inclusive of various renewals which are at our sole discretion. Costs of the Options will be amortized over the life of the lease once obtained, or capitalized into the land if purchased.
Permitting Costs
Permitting costs primarily represent the purchase of wetland credits in connection with our permit application to the USACE in 2017 and 2018. These wetland credits will be applied to our permit in accordance with the Clean Water Act and the Rivers and Harbors Act, which require us to mitigate the impact to Louisiana wetlands caused by the construction of the Driftwood Project. In May 2019, we received the USACE permit. The permitting costs will be transferred to construction in progress upon reaching FID.