Amendment #4 Page 527 of 868 Ale toptent. should corsoliclate certan types of legal ea ties ASU No 2015-02 is effective fa annual penoos ending after Decerrter 15 2015 and for annual periods and intenm periods thereafter with early adoption permitted Managerrere does not beleve that the acketion of ASU No 2015-02 will have a matenal effect on our frenoal Statements In April 2016 the FASB issued ASU 2015.03, inlatestimputabon or !neatest which requres deist issuance costs to be presented as a area deduction from the carrying anon[ of the related today The new standard is effects* for annual wads beginning after December 31 believe that Ire adopecn of the gadance we have a material mead on on finance! statements 3. Property and equipment Property and equunent consists el the foliowirg thousands) 2015 Early adoption Is panned Management dies not As of Do:einem 31, 1014 2013 Land 3 2739 $ 713 Solar energy systems 306 203 184387 Total property and equipment, at cost S 308942 3 185,100 Less acoanuiated deceeciaten (15,804) (8,530) Taal properly and equipment in service, net $ 293,138 $ 178570 Consuuction in progress • soar energy systems 92941 33,447 Total properly and equiprrenl net $ 336079 $ 210017 Ceixeciation expense was $8,924 and $4.672 for the years ended December 31, 2014 end 2013. respecerNy. 4. Asset retirement obligations and other liabilities Act Nay in asset fel remert obigations fa the years ended December 31, 2014 and 2013 Is as follows (ti thOutandt) As of December 31. 2014 2013 Balance at ire begnnng of Ire year C2.5,73 Cre2 Adamant.' odgation 2,930 1.733 Accretion expense 243 113 Effect of exchange rate charges on asset retirement clolgatore (677) S5 Balance at the end of the year S 5 049 S 2 553 Oder baubles of 531,781 and 537.438 as of December 31.2014 and 2013, restecbvely, consist of the noncurrent porbco of a payable to a contractor due December 2016 and bearing interest at 13% 6. Debt