| Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | ||
|---|---|---|---|---|---|---|
Cash flows from operating activities: | ||||||
Net income (loss) | ||||||
-2,943 | 6,952 | 14,373 | 13,463 | 17,563 | ||
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities: | ||||||
Depreciation and amortization | ||||||
51,581 | 40,745 | 40,361 | 27,735 | 30,738 | ||
Business Combination, Management Fee Waived | ||||||
-22,600 | 0 | 0 | - | - | ||
Amortization of debt issuance costs, debt premium and original issue discounts | ||||||
1,243 | 1,093 | 1,448 | 1,893 | 1,606 | ||
Impairment of inventory | ||||||
- | - | - | 10,881 | - | ||
General and administrative expense incurred by sponsor | ||||||
- | - | - | - | 475 | ||
General and administrative expense incurred by the Hamlet JV prior to Enviva Port of Wilmington, LLC and Enviva Pellets Sampson, LLC Drop-Downs | ||||||
0 | 0 | 1,343 | 4,087 | 2,364 | ||
General and administrative expense incurred by the First Hancock JV prior to Enviva Port of Wilmington, LLC Drop-Down | ||||||
- | - | - | - | 1,396 | ||
Allocation of income tax expense from Enviva Cottondale Acquisition I, LLC | ||||||
- | - | - | - | 2,663 | ||
Gain (Loss) on Extinguishment of Debt | ||||||
-9,042 | -751 | 0 | -4,438 | -4,699 | ||
Loss on disposal of assets and assets held for sale | ||||||
-3,103 | -2,386 | -5,726 | -2,386 | -2,081 | ||
Unit-based compensation | ||||||
5,410 | 6,229 | 5,014 | 4,230 | 704 | ||
De-designation of foreign currency forwards and options | ||||||
0 | -1,947 | 1,593 | 0 | - | ||
Fair value changes in derivatives | ||||||
-3,701 | 7,464 | 0 | 0 | -23 | ||
Unrealized (losses) gains on foreign currency transactions, net | ||||||
-177 | -23 | 3 | 0 | - | ||
Change in operating assets and liabilities: | ||||||
Accounts and insurance receivables | ||||||
16,330 | -19,230 | 1,317 | 39,218 | 3,577 | ||
Related-party receivables | ||||||
-1,392 | -2,720 | -1,577 | -237 | 176 | ||
Prepaid expenses and other current and long-term assets | ||||||
358 | 182 | 138 | -7,466 | 115 | ||
Inventories | ||||||
1,889 | 7,843 | -5,758 | 8,411 | 22 | ||
Other long-term assets | ||||||
- | - | - | - | 6,051 | ||
Derivatives | ||||||
-1,770 | -4,907 | 1,720 | 1,284 | - | ||
Accounts payable, accrued liabilities and other current liabilities | ||||||
9,287 | 14,916 | -2,331 | 19,379 | 6,718 | ||
Related-party payables | ||||||
-27,933 | 173 | 15,733 | 3,625 | 4,121 | ||
Accrued interest | ||||||
-5,148 | 367 | -1,330 | 4,433 | 105 | ||
Deferred revenue | ||||||
3,887 | 0 | 0 | - | 425 | ||
Operating lease liabilities | ||||||
4,826 | 0 | 0 | - | - | ||
Other long-term liabilities | ||||||
94 | 997 | 1,008 | 464 | 117 | ||
Net cash provided by (used in) operating activities | ||||||
53,860 | 84,053 | 87,095 | 55,804 | 65,857 | ||
Purchases of property, plant and equipment | ||||||
111,269 | 27,132 | 28,744 | 112,887 | 100,216 | ||
Payment in relation to the Hamlet Drop-Down | ||||||
74,700 | 0 | 0 | - | - | ||
Insurance proceeds from property loss | ||||||
0 | 1,130 | 0 | 0 | - | ||
Payment of acquisition related costs | ||||||
- | - | - | - | 3,573 | ||
Proceeds from the sale of property, plant and equipment | ||||||
0 | 0 | 143 | 1,763 | 299 | ||
Other | ||||||
-8,486 | 0 | 0 | - | - | ||
Net cash used in investing activities | ||||||
-177,483 | -26,002 | -28,601 | -111,124 | -103,490 | ||
Cash flows from financing activities: | ||||||
Proceeds from senior secured revolving credit facility, net | ||||||
453,000 | 299,250 | 131,952 | - | - | ||
Principal payments on senior secured revolving credit facility | ||||||
526,000 | 226,250 | 81,000 | - | - | ||
Principal payments on other long-term debt and finance lease obligations | ||||||
358,311 | 46,466 | 1,954 | 204,216 | 199,638 | ||
Principal payments on related-party debt | ||||||
- | - | - | 3,391 | - | ||
Cash paid related to debt issuance costs | ||||||
7,560 | 2,495 | 735 | 7,099 | 6,287 | ||
Termination payment for interest rate swap derivatives | ||||||
- | - | - | - | 146 | ||
Cash restricted for debt service | ||||||
- | - | - | - | -11,640 | ||
IPO proceeds, net | ||||||
- | - | - | - | 215,050 | ||
Distributions, proceeds from contributions and contributions associated with Enviva Pellets Sampson, LLC and Enviva Port of Wilmington, LLC Drop-Downs from our sponsor and Hamlet JV | ||||||
0 | 0 | 44,312 | 39,060 | 297,185 | ||
Proceeds from common unit issuances, net | ||||||
96,822 | 241 | 1,938 | 9,300 | - | ||
Payments in relation to the Hamlet JV Drop-Down | ||||||
24,300 | 0 | 0 | - | - | ||
Distributions to unitholders, distribution equivalent rights and incentive distribution rights holder | ||||||
95,659 | 73,518 | 64,325 | 51,376 | 16,883 | ||
Proceeds from debt issuance | ||||||
601,777 | 0 | 0 | 349,500 | 230,140 | ||
Payment to General Partner to purchase affiliate common units for Long-Term Incentive Plan vesting | ||||||
0 | 2,341 | 0 | 0 | - | ||
Payment for withholding tax associated with Long-Term Incentive Plan vesting | ||||||
1,910 | 4,536 | 0 | 0 | - | ||
Payments in relation to the Hamlet JV Drop-Down | ||||||
-99 | 0 | 0 | - | - | ||
Cash paid for redemption premium from early retirement of debt | ||||||
7,544 | 0 | 0 | - | - | ||
Proceeds from contributions from sponsor | ||||||
- | - | - | - | 12,387 | ||
Proceeds from contributions from the First Hancock JV prior to Enviva Pellets Sampson, LLC Drop-Down | ||||||
- | - | - | - | 68,059 | ||
Proceeds from contributions from the First Hancock JV prior to Enviva Port of Wilmington, LLC Drop-Down | ||||||
- | - | - | - | 24,000 | ||
Payment of deferred offering costs | ||||||
- | - | - | - | 1,964 | ||
Net cash (used in) provided by financing activities | ||||||
130,216 | -56,115 | -58,436 | 53,658 | 39,173 | ||
Net (decrease) increase in cash, cash equivalents and restricted cash | ||||||
6,593 | 1,936 | 58 | -1,662 | 1,540 | ||
Non-cash investing and financing activities: | ||||||
Property, plant and equipment acquired included in liabilities | ||||||
3,421 | 8,939 | 2,653 | 14,255 | 23,222 | ||
Property, plant and equipment acquired under finance leases | ||||||
6,493 | 3,512 | 1,956 | 1,753 | 39 | ||
Property, plant and equipment transferred from inventories | ||||||
0 | 2 | 226 | 926 | 319 | ||
Property, plant and equipment capitalized interest | ||||||
2,104 | 158 | 0 | 0 | - | ||
Contribution of Enviva Pellets Cottondale, LLC non-cash assets | ||||||
- | - | - | - | 122,529 | ||
Application of deferred IPO costs to partners' capital | ||||||
- | - | - | - | 5,913 | ||
Related-party long-term debt transferred to third-party long-term debt | ||||||
- | - | - | 14,757 | - | ||
Third-party long-term debt transferred to related-party long-term debt | ||||||
- | - | - | 3,316 | - | ||
Deferred consideration to sponsor included in related-party payable | ||||||
40,000 | 0 | 74,000 | 0 | - | ||
Retained matters from the Hamlet JV included in related-party receivables | ||||||
0 | 0 | 585 | 0 | - | ||
Distributions included in liabilities | ||||||
2,180 | 1,659 | 741 | 955 | 58 | ||
Conversion of subordinated units to common units | ||||||
0 | 78,504 | 0 | 0 | - | ||
Application of short-term deposit to fixed assets | ||||||
0 | 0 | 258 | 0 | - | ||
Transfer of Enviva Port of Wilmington, LLC Drop-Down consideration to short-term | ||||||
0 | 74,000 | 0 | 0 | 5,002 | ||
Debt issuance costs included in accrued liabilities | ||||||
779 | 103 | 0 | 139 | 36 | ||
Distribution of Enviva Pellets Cottondale, LLC assets to sponsor | ||||||
- | - | - | - | 319 | ||
Non-cash adjustments to financed insurance and prepaid expenses | ||||||
- | - | - | - | 105 | ||
Application of sales tax accrual to fixed assets | ||||||
- | - | - | - | 73 | ||
Contribution of tax accounts of sponsor | ||||||
- | - | - | - | 35 | ||
Depreciation capitalized to inventories | ||||||
186 | 567 | -427 | 344 | 211 | ||
Due from the First Hancock JV for Enviva Pellets Sampson, LLC Drop-Down | ||||||
- | - | - | 1,652 | - | ||
Non-cash capital contributions from the First Hancock JV prior to Enviva Pellets Sampson, LLC and Enviva Port of Wilmington, LLC Drop-Downs | ||||||
- | - | - | 8,623 | 1,277 | ||
Non-cash capital contributions from sponsor | ||||||
- | - | - | - | 339 | ||
Non-cash capital contributions from the First Hancock JV prior to Port of Wilmington, LLC Drop-Down | ||||||
- | - | - | - | 906 | ||
Supplemental cash flow information: | ||||||
Interest paid, net of capitalized interest | ||||||
41,190 | 35,222 | 31,513 | 11,191 | 9,935 | ||
Wilmington Dropdown [Member] | ||||||
Business Combination, Consideration Transferred, Equity Interests Issued and Issuable | ||||||
49,700 | 0 | 0 | - | - | ||
Hamlet JV | ||||||
Business Combination, Consideration Transferred, Equity Interests Issued and Issuable | ||||||
50,000 | 0 | 0 | - | - | ||