PATTERN ENERGY GROUP INC. PEGI Cash Flow

Pattern energy group inc. (PEGI)

CashFlow / Quarterly

Dec'19	Sep'19	Jun'19	Mar'19	Dec'18	Sep'18	Jun'18	Mar'18	Dec'17	Sep'17	Jun'17	Mar'17	Dec'16	Sep'16	Jun'16	Mar'16	Dec'15	Sep'15	Jun'15	Mar'15	Dec'14	Sep'14	Jun'14	Mar'14	Dec'13	Sep'13	Jun'13	Mar'13
Operating activities
Net loss
40,000	-71,000	-30,000	-46,000	-23,000	-31,000	-2,000	-13,000	-21,479	-48,376	-14,684	2,539	3,744	-11,050	-15,646	-29,048	-3,873	-35,332	5,657	-22,059	-15,986	-9,281	7,167	-21,899	-19,375	4,243	43,988	-18,784
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation, amortization and accretion
94,000	85,000	84,000	90,000	92,000	63,000	63,000	62,000	58,670	64,072	48,518	43,740	58,218	43,693	43,678	43,411	41,268	38,267	34,785	29,056	31,941	30,015	21,284	21,177	21,422	21,194	17,998	22,566
Amortization of financing costs
-	-	-	-	-	-	-	-	-	-	1,994	1,858	-	1,744	1,752	1,746	1,854	1,945	1,893	1,743	2,063	1,398	1,453	1,395	1,388	1,357	1,841	2,230
Amortization of debt discount/premium, net
-	-	-	-	-	-	-	-	-	-	1,125	1,102	-	1,073	1,042	1,032	862	798	0	0	-	-	-	-	-	-	-	-
Amortization of power purchase agreements, net
-	-	-	-	-	-	-	-	-	-	753	736	-	771	754	753	771	1,175	0	0	-	-	-	-	-	-	-	-
Loss on derivatives
3,000	2,000	-5,000	-5,000	-7,000	1,000	6,000	-4,000	1,869	-7,538	-7,981	-2,350	7,757	2,452	-14,452	-17,757	-12,647	-460	-864	531	2,196	3,205	-9,491	-11,456	-1,358	7,435	3,124	-4,872
Share-based Payment Arrangement, Noncash Expense
1,000	2,000	1,000	1,000	1,000	2,000	1,000	1,000	915	1,317	1,783	985	638	1,585	1,582	1,195	1,228	1,245	1,174	815	977	953	1,642	533	500	0	0	0
Deferred taxes
32,000	1,000	2,000	3,000	2,000	3,000	4,000	7,000	5,867	-16	4,456	4,693	4,319	1,194	1,344	1,143	4,154	-2,276	3,494	-878	4,453	-3,538	4,065	-2,032	11,347	595	-7,688	292
Earnings in unconsolidated investments, net
123,000	-10,000	0	-6,000	-12,000	-4,000	-1,000	18,000	13,569	-3,964	14,519	16,876	14,245	4,685	7,553	3,517	15,367	-9,906	13,801	-3,082	-4,057	-5,002	-3,688	-12,548	2,658	1,845	13,368	-10,025
Distributions from unconsolidated investments
21,000	5,000	7,000	7,000	5,000	10,000	19,000	14,000	10,907	11,383	15,223	16,487	14,623	0	377	0	-	-	-	-	-	-	-	-	-	-	-	-
Other reconciling items
-	-	-	-	-	-	-	-	-2,953	-1,030	-578	-439	-4,044	1,009	-181	-784	0	51	816	354	-	-	-	-	-	-	-	-
Changes in operating assets and liabilities:
Counterparty collateral asset
0	1,000	5,000	0	0	0	12,000	12,000	3,895	906	7,541	1,658	2,643	2,837	11,697	-61,177	0	0	0	0	-	-	-	-	-	-	-	-
Trade receivables
-1,000	-4,000	-5,000	23,000	-1,000	-10,000	4,000	6,000	7,139	-5,134	-437	8,432	-1,922	-9,831	6,968	-3,215	7,911	-10,581	5,212	-288	3,000	-8,640	7,538	6,357	786	2,423	-7,709	13,221
Reimbursable interconnection receivable
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	488	416
Prepaid expenses
-	-	-	-	-	-	-	-	-	5,389	-1,256	-946	-	4,405	-2,040	-1,360	2,722	-887	1,982	-5,089	17,239	7,114	-16,226	-4,027	3,628	-8,723	12,981	-865
Other current assets
-2,000	12,000	3,000	6,000	-3,000	-5,000	-5,000	-2,000	4,210	6,152	-445	4,083	291	789	4,034	-1,114	-4,365	6,917	-216	-118	-	-	-	-	-	-	-	-
Other assets (non-current)
3,000	-10,000	7,000	11,000	2,000	2,000	1,000	1,000	457	104	431	-2,992	-135	974	-2,075	236	314	1,923	19	80	146	198	183	122	208	124	119	115
Accounts payable and other accrued liabilities
-18,000	6,000	-27,000	15,000	6,000	9,000	7,000	-19,000	1,611	-14,612	35,419	-4,418	-342	6,973	9,040	-18,671	536	3,565	1,303	-688	2,025	1,294	5,369	-5,021	-1,826	3,908	1,769	-815
Counterparty collateral liability
0	-1,000	-5,000	0	0	0	-12,000	-12,000	-3,895	-906	-7,541	-1,658	-2,643	-2,837	-11,697	61,177	0	0	0	0	-	-	-	-	-	-	-	-
Other current liabilities
4,000	0	26,000	-31,000	35,000	-2,000	2,000	-9,000	8,350	2,317	5,308	-975	1,189	1,244	785	-1,218	-249	-387	558	593	-	-	-	-	-	-	-	-
Other long-term liabilities
3,000	-3,000	5,000	-2,000	-27,000	-1,000	4,000	4,000	6,431	3,921	7,376	3,272	2,048	-1,401	4,649	1,704	2,613	-1,187	124	1,146	-	-	-	-	-	-	-	-
Related party receivable/payable
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-513	572	-565	-75	-36	898	155	-481	8	85	198
Accrued interest
-	-	-	-	-	-	-	-	-	-12,453	11,294	-2,725	-	-5,839	6,057	-6,235	2,519	1,281	3,063	-2,374	2,294	-906	-866	855	-890	622	-855	1,090
Contingent liabilities
-	-	-	-	-	-	-	-	-	-	275	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Derivatives
-	-	-	-	-	-	-	-	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net cash provided by operating activities
49,000	43,000	67,000	8,000	49,000	106,000	96,000	28,000	58,670	2,147	113,431	43,752	56,629	37,395	55,255	14,721	34,567	34,682	32,361	16,239	26,548	23,078	44,417	16,405	9,757	26,738	33,266	8,391
Investing activities
Payments to Acquire Businesses, Net of Cash Acquired
255,000	64,000	0	7,000	140,000	60,000	22,000	193,000	67,671	59,301	169,753	275	131,976	4,024	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Capital expenditures
105,000	96,000	23,000	40,000	52,000	43,000	25,000	61,000	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-120,965	9,903	43,884	67,178
Proceeds from sale of investments
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	7,200	7,054
Decrease in restricted cash
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	16,543	4,235	21,042	-	22,545	1,016	300	2,785	60,839	2,115	778
Increase in restricted cash
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	26,924	1,911	5,055	-	10,404	1	1	2	66,591	13,973	3
Payment for property, plant and equipment
-	-	-	-	-	-	-	-	-	5,208	37,759	1,328	-	5,601	1,869	24,084	-	-	-	-	-	-	-	-	-	-	-	-
Deferred development costs
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	528
Distributions from unconsolidated investments
115,000	4,000	5,000	7,000	5,000	1,000	4,000	0	1,789	2,821	4,185	4,205	1,934	8,292	11,960	19,814	14,746	9,647	7,771	6,076	-	-	-	-	0	0	0	10,463
Other assets
-	-	-	-	-	-	-	-	-	-	-	-83	-	-	-	-	385,108	-221,149	152,543	63,956	100,891	18,071	858	-314	-	-	-	-
Investment in Pattern Development 2.0
-	-	-	-	-	-	-	-	-	60,000	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Contribution to unconsolidated investments
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	440	597	1,283	941	2,213	0	6,524
Reimbursable interconnection receivable
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	623	623	-	1	-1	1,418	0	43,041	1,447	5,227
Other assets
-	-	-	0	-	-	-	17,000	-	-	-	-	2,864	-27	38	125	3	0	0	0	-	-	-	-	-	-	-	-
Other assets (non-current)
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	618	-	618	676	446
Net cash used in investing activities
-258,000	-155,000	-18,000	-40,000	-30,000	-46,000	-26,000	-271,000	-5,194	-121,645	-195,846	2,685	-129,971	275	10,091	-4,395	-72,911	-92,618	-552,276	-41,270	-208,483	7,975	-163,412	1,366	-30,162	39,139	124,133	-60,719
Financing activities
Proceeds from common share offering
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-390	121,231	-332	196,923	-77	-1,109	288,078	-135	-	-	-	0
Repurchase of shares for employee tax withholding
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	21	29	281	313	325	29	26	-	-	-	0
Dividends paid
41,000	41,000	41,000	42,000	41,000	42,000	41,000	41,000	37,057	36,399	36,022	35,522	34,841	29,062	28,386	27,711	27,127	24,285	23,592	15,578	15,240	14,934	11,088	11,082	-	-	-	0
Capital contributions - Pattern Development
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	5,661	5,564	21,454
Capital distributions - Pattern Development
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	6,712	68,709	23,465
Capital contributions - noncontrolling interests
4,000	19,000	0	5,000	95,000	3,000	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Capital distributions - noncontrolling interests
8,000	12,000	10,000	11,000	9,000	8,000	12,000	9,000	6,299	4,538	6,516	2,647	6,229	3,584	4,270	3,917	3,500	2,871	763	748	-	-	-	-	866	2,594	-1,336	168
Decrease in restricted cash
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	22,897	9,769	8,763	-	0	8,840	4,668	6,035	107,891	8,763	0
Increase in restricted cash
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	19,466	9,656	12,062	-	4,668	1,133	7,707	894	9,821	111,402	5,252
Refund of deposit for letters of credit
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-3,425	-	-	-	-	-	-	-	-
Payment for financing fees
4,000	1,000	0	0	2,000	0	1,000	6,000	8,237	23	2,715	5,025	-134	0	134	0	-	-	-	-	11,253	61	-47	589	0	37	212	45
Repayment of note payable - related party
-	-	-	-	-	-	-	-	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from short-term debt
359,000	109,000	69,000	75,000	73,000	156,000	50,000	283,000	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Repayment of short-term debt
264,000	314,000	35,000	41,000	85,000	184,000	98,000	35,000	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from revolving credit facility
-	-	-	-	-	-	-	-	-	238,000	85,000	0	-	0	0	20,000	110,000	45,000	250,000	0	-	-	-	-	-	-	-	-
Repayment of revolving credit facility
-	-	-	-	-	-	-	-	-	45,000	25,000	180,000	-	300,000	20,000	20,000	0	50,000	0	50,000	-	-	-	-	-	-	-	-
Proceeds from construction loans
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	34,568	88,318	158,589	47,595	-	-	-	-	-	-	-	-
Proceeds from long-term debt and other
24,000	353,000	32,000	45,000	61,000	38,000	14,000	113,000	289,605	0	54,395	350,000	0	0	0	0	-	-	-	-	-	-	-	-	0	20,633	39,940	78,047
Repayment of long-term debt and other
13,000	18,000	18,000	8,000	133,000	18,000	16,000	19,000	290,891	117,285	64,498	10,326	8,678	17,060	13,319	8,943	380,887	379,653	16,948	8,435	206,352	30,989	16,266	5,830	123,097	19,468	15,584	6,231
Payment for termination of designated derivatives
-	0	0	3,000	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other financing activities
-2,000	0	0	-1,000	-1,000	-3,000	0	0	-2,288	-94	-1,615	-2,003	-1,366	426	-917	-143	-860	0	4	-4	-	-	-	-	-	-	-	-
Net cash provided by financing activities
310,000	95,000	-24,000	19,000	-41,000	-58,000	-104,000	286,000	-35,226	42,720	3,029	114,477	93,437	-62,697	-67,026	-40,714	35,932	78,919	359,224	169,598	69,163	-33,336	252,139	-20,701	-24,934	41,303	-144,110	64,340
Effect of exchange rate changes on cash, cash equivalents and restricted cash
-1,000	0	3,000	-2,000	-1,000	-1,000	-1,000	-1,000	2,048	1,704	2,248	0	-1,750	-267	180	1,837	-2,182	-723	297	-2,893	-1,176	-1,097	551	-296	-181	134	-358	-742
Net change in cash, cash equivalents and restricted cash
100,000	-17,000	28,000	-15,000	-23,000	15,000	-49,000	42,000	20,298	-75,074	-77,138	160,914	18,345	-25,294	-1,500	-28,551	-4,594	20,260	-160,394	141,674	-113,948	-3,380	133,695	-3,226	-45,520	107,314	12,931	11,270
Supplemental disclosures
Cash payments for income taxes
0	2,000	0	14,000	2,000	0	0	0	-335	47	41	247	-233	78	58	97	49	107	168	18	-	-	-	-	-	-	-	-
Cash payments for interest expense
24,000	31,000	16,000	29,000	18,000	30,000	16,000	33,000	15,900	36,434	11,059	22,607	10,828	22,637	12,331	24,204	13,368	24,792	6,005	18,442	10,736	15,744	14,898	12,398	8,117	15,468	16,331	13,379
Schedule of non-cash activities
Change in fair value of designated interest rate swaps
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-7,266	-	-	-	-	-1,391	2,630	28,431	7,205
Capitalized interest
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	2,372	467	391
Capitalized commitment fee
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	11	28
Change in property, plant and equipment
-28,000	-10,000	61,000	10,000	-2,000	109,000	-5,000	122,000	1,381	-491	154	956	-5,132	4,830	-10,297	11,599	-5,049	-350	44,155	-23,061	49,143	-56,322	-30,832	-9,897	50,740	-14,961	-60,942	-84,118
Accrual of deferred financing costs
-	-	-	-	-	-	-	-	-	-	-	1,640	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-
Transfer of capitalized assets to South Kent joint venture
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	49,275
Change in other assets
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	2,515	-	-	-	-	-	-	-	-
Non-cash distribution to Pattern Development
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-2,465	0	-3,283