PATTERN ENERGY GROUP INC. PEGI Income Statement

Pattern energy group inc. (PEGI)

Income statement / 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
Revenue:
Energy derivative settlements
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	2,591	3,983	2,735	-	2,656	4,809	5,408
Unrealized gain (loss) on energy derivative
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	3,139	-6,549	-7,733	-	6,659	-5,078	-6,803
Related party revenue
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	955	872	803	987	868	949	513	-	202	263	-
Revenues
147,000	119,000	140,000	135,000	113,000	118,000	140,000	112,000	110,377	92,030	107,760	100,833	81,009	91,914	93,438	87,639	90,597	89,697	84,671	64,866	79,418	71,519	64,939	49,617	41,767	57,257	58,712	43,837
Cost of revenue:
Project expense
45,000	41,000	40,000	40,000	38,000	36,000	34,000	35,000	33,563	33,932	33,405	29,100	31,237	31,271	33,246	32,246	32,544	28,848	27,981	25,246	21,166	23,835	16,700	16,074	15,616	14,592	14,492	12,977
Transmission costs
8,000	5,000	6,000	6,000	5,000	6,000	8,000	7,000	6,787	7,421	4,722	70	-	113	113	-	-	-	-	-	-	-	-	-	-	-	-	-
Depreciation, amortization and accretion
82,000	76,000	77,000	83,000	84,000	56,000	55,000	55,000	54,363	52,379	48,518	43,740	44,218	43,693	43,678	43,411	41,379	38,599	34,342	29,056	31,941	30,015	21,284	21,177	21,422	21,194	17,998	22,566
Total cost of revenue
135,000	122,000	123,000	129,000	127,000	98,000	97,000	97,000	94,713	93,732	86,645	72,910	76,229	75,077	77,037	75,657	73,923	67,447	62,323	54,302	53,107	53,850	37,984	37,251	37,038	35,786	32,490	35,543
Gross profit
12,000	-3,000	17,000	6,000	-14,000	20,000	43,000	15,000	15,664	-1,702	21,115	27,923	4,780	16,837	16,401	11,982	16,674	22,250	22,348	10,564	26,311	17,669	26,955	12,366	4,729	21,471	26,222	8,294
Operating expenses:
General and administrative
13,000	12,000	11,000	11,000	11,000	9,000	9,000	11,000	7,031	9,068	11,777	11,124	7,575	9,598	9,265	8,562	4,833	7,218	8,870	6,221	6,570	5,772	6,288	3,903	4,256	214	205	144
Development expense
-	13,000	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Related party general and administrative
6,000	4,000	4,000	4,000	3,000	4,000	4,000	4,000	3,411	3,587	3,576	3,426	2,619	3,553	1,931	1,897	2,273	1,887	1,621	1,808	1,632	1,492	1,383	1,280	-799	3,607	2,699	2,662
Asset Impairment Charges
-	0	0	-	-	3,000	4,000	-	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Total operating expenses
20,000	29,000	15,000	15,000	14,000	16,000	17,000	15,000	10,442	12,655	15,353	14,550	10,194	13,151	11,196	10,459	7,106	9,105	10,491	8,029	8,202	7,264	7,671	5,183	3,457	3,821	2,904	2,806
Operating income (loss)
-8,000	-32,000	2,000	-9,000	-28,000	4,000	26,000	0	5,222	-14,357	5,762	13,373	-5,414	3,686	5,205	1,523	9,568	13,145	11,857	2,535	18,109	10,405	19,284	7,183	1,272	17,650	23,318	5,488
Other income (expense):
Interest expense
33,000	27,000	25,000	26,000	28,000	28,000	28,000	25,000	27,459	27,147	24,839	22,555	15,866	19,798	21,275	21,061	21,105	19,941	18,943	17,918	48,509	17,999	15,807	-14,621	111,783	-14,695	-16,832	-16,642
Interest rate derivative settlements
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1,030	-	-	-	-	-	-
Unrealized loss derivatives
3,000	3,000	-1,000	1,000	0	2,000	9,000	6,000	1,687	-6,288	-4,751	-648	14,685	1,825	-5,879	-13,631	-11,398	-6,091	4,178	-3,400	-9,144	66	-2,942	-3,723	2,593	776	8,202	1,931
Realized loss on designated derivatives
-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	-11,221	-	-	2,052	0	-1,035	-1,017	-	-1,059	-	-
Earnings in unconsolidated investments, net
123,000	-10,000	0	-6,000	-12,000	-4,000	-1,000	18,000	14,569	-3,964	14,519	16,876	14,245	4,685	7,240	3,830	15,351	-9,951	13,801	-3,082	-4,057	-5,002	-3,688	-12,548	2,658	1,845	13,368	-10,025
Related party income
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	605	756	668	876	664	444	628	-	-	-	-
Gain (Loss) on Extinguishment of Debt
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-4,113	-	-	-	0	-	-	-	-	-	-
Net earnings (loss) on transactions
-9,000	-3,000	-2,000	0	71,000	1,000	-2,000	-1,000	585	-466	-807	-312	353	-314	-72	33	-737	-74	-1,305	-1,284	-	-68	14,537	-	-	-	7,200	-
Other income (expense), net
-2,000	-1,000	0	-2,000	-2,000	-3,000	-2,000	-4,000	-560	7	-27	580	703	177	564	1,556	351	128	-1,084	-324	-318	145	439	167	373	321	1,044	758
Total other expense
82,000	-38,000	-28,000	-33,000	23,000	-32,000	-24,000	-6,000	-20,178	-37,858	-15,905	-6,059	14,120	-13,425	-19,422	-29,273	-9,174	-50,658	-2,597	-25,340	-29,454	-23,224	-8,052	-31,114	-9,302	-12,812	12,982	-23,978
Net loss before income tax
74,000	-70,000	-26,000	-42,000	-5,000	-28,000	2,000	-6,000	-14,956	-52,215	-10,143	7,314	8,706	-9,739	-14,217	-27,750	394	-37,513	9,260	-22,805	-11,345	-12,819	11,232	-23,931	-8,030	4,838	36,300	-18,490
Income Tax Expense (Benefit)
34,000	1,000	4,000	4,000	18,000	3,000	4,000	7,000	6,523	-3,839	4,541	4,775	4,962	1,311	1,429	1,298	4,267	-2,181	3,603	-746	4,641	-3,538	4,065	-2,032	11,345	595	-7,688	294
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest
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
Net loss attributable to noncontrolling interests
-17,000	-20,000	-23,000	-16,000	-9,000	-18,000	-35,000	-149,000	-13,434	-18,548	-28,904	-3,114	-10,162	-7,037	-12,423	-5,378	-6,327	-5,927	-8,660	-2,160	4,406	-2,073	-4,032	-7,010	-6,197	3,248	-359	-3,579
Net income (loss) attributable to Pattern Energy
57,000	-51,000	-7,000	-30,000	-14,000	-13,000	33,000	136,000	-8,045	-29,828	14,220	5,653	13,906	-4,013	-3,223	-23,670	2,454	-29,405	14,317	-19,899	-20,392	-7,208	11,199	-14,889	-13,178	995	44,347	-15,205
Net (loss) income attributable to Pattern Energy
57,000	-51,000	-7,000	-30,000	-14,000	-13,000	33,000	136,000	-8,045	-29,828	14,220	5,653	-	-4,013	-3,223	-	-	-	-	-	-	-7,208	11,199	-14,889	-13,178	995	44,347	-15,205
Net income (loss) attributable to common shareholders
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-29,688	-11,239	-26,068	-	-	-	-
Weighted average number of common shares outstanding
Weighted average number of shares - Basic and diluted (in shares)
-	-	-	-	-	-	-	-	-	-	-	-	-	81,531	74,443	74,437	-	72,789	-	65,892	-	-	-	-	-	-	-	-
Basic (in shares)
97,636	97,600	97,609	97,568	97,477	97,460	97,459	97,428	95,218	87,370	87,065	87,062	-	-	-	-	-	-	68,943	-	-	-	-	-	-	-	-	-
Diluted (in shares)
97,636	97,600	97,609	97,568	90,084	97,460	97,496	105,564	94,997	87,370	87,217	87,131	-	-	74,443	74,437	-	-	69,147	-	-	-	-	-	-	-	-	-
Net income (loss) per share attributable to Pattern Energy
Basic and diluted
-	-	-	-	-	-	-	-	-	-	-	-	-	-0.05	-0.04	-0.32	-	-0.40	-	-0.30	-	-	-	-	-	-	-	-
Basic (in dollars per share)
0.56	-0.53	-0.07	-0.31	-0.15	-0.13	0.34	1.39	-0.08	-0.34	0.16	0.06	-	-	-	-	-	-	0.21	-	-	-	-	-	-	-	-	-
Diluted (in dollars per share)
0.56	-0.53	-0.07	-0.31	-0.08	-0.13	0.34	1.32	-0.08	-0.34	0.16	0.06	-	-	-	-	-	-	0.21	-	-	-	-	-	-	-	-	-
Dividends declared per Class A common share (in dollars per share)
-	-	-	-	-	-	-	-	-	0.42	0.42	0.41	-	0.40	0.39	0.38	-	0.36	0.35	0.34	-	-	-	-	-	-	-	-
Unaudited pro forma net income after tax:
Net income before income tax
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	4,838	36,300	-18,490
Pro forma tax benefit
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-2,906	395	279
Pro forma net income
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	7,744	35,905	-18,769
Electricity Sales [Member]
Revenues
144,000	115,000	135,000	123,000	110,000	116,000	136,000	102,000	108,023	89,807	105,736	98,434	79,048	89,919	91,370	85,663	89,023	88,256	82,871	64,125	70,494	64,251	66,053	53,871	48,263	37,950	47,351	45,232
Other Revenue [Member]
Revenues
3,000	4,000	5,000	12,000	3,000	2,000	4,000	10,000	2,354	2,223	2,024	2,399	1,961	1,995	2,068	1,976	4,204	486	928	-62	6,103	670	503	231	-	9,790	11,367	-