Sunrun Inc. RUN Cash Flow

Sunrun inc. (RUN)

CashFlow / TTM

Mar'20	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
Operating activities:
Operating activities:
Net loss
-413,665	-391,022	-353,540	-288,530	-255,672	-260,186	-266,706	-301,997	-303,880	-287,615	-334,921	-327,074	-318,191	-320,839	-291,804	-289,051	-274,189	-248,906	0	0	0
Adjustments to reconcile net loss to net cash (used in) provided by operating activities:
Depreciation and amortization, net of amortization of deferred grants
194,523	187,163	180,916	171,046	163,482	156,007	148,321	141,013	134,925	128,687	119,000	113,583	106,845	98,493	93,884	85,264	77,540	71,373	0	0	0
Deferred income taxes
-8,199	-8,218	2,630	-8,531	-2,242	9,322	-11,754	8,756	15,157	12,353	0	0	0	-	-	-	-	-	-	-	-
Stock-based compensation expense
0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Bonus liability converted to RSUs
0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Stock-based compensation expense
-	-	-	-	-	27,856	27,531	26,895	26,862	22,042	21,191	21,465	20,788	18,723	19,422	18,049	16,412	15,823	0	0	0
Noncash interest expense
-	-	-	-	-	-	-	-	-	-	-	-	-	-	9,672	7,889	7,864	6,997	0	0	0
Bad debt expense
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1,998	0	0	0
Interest on pass-through financing obligations
23,731	24,326	25,099	24,581	22,578	19,205	15,636	13,357	12,610	12,629	13,163	13,012	12,873	12,757	11,585	10,801	11,487	11,959	0	0	0
Reduction in pass-through financing obligations
38,786	39,083	37,968	34,565	29,963	25,005	20,941	20,295	18,771	18,295	44,563	43,564	45,229	44,913	14,870	15,892	16,129	16,780	0	0	0
Other noncash items
35,733	25,780	21,348	20,067	21,306	25,484	29,766	26,450	24,558	24,471	26,892	22,933	19,628	15,705	0	0	0	-	-	-	-
Changes in operating assets and liabilities:
Accounts receivable
3,673	14,864	10,687	19,050	12,071	5,707	6,689	-1,340	6,657	9,409	19,939	16,111	2,103	1,973	335	7,417	6,387	15,517	0	0	0
Inventories
181,430	181,104	13,799	8,525	-11,718	-14,960	32,655	28,560	28,299	27,101	-22,618	-35,463	-35,079	-4,042	33,924	50,293	59,121	47,344	0	0	0
Prepaid and other assets
44,647	81,630	89,096	91,682	98,469	75,924	68,638	69,579	55,137	51,633	84,243	65,533	57,690	52,226	9,058	-4,971	10,308	884	0	0	0
Accounts payable
34,329	67,356	-2,697	40,121	-747	8,848	34,457	12,361	39,212	47,837	13,553	-27,811	-34,590	-40,336	-8,879	18,306	13,911	50,946	0	0	0
Accrued expenses and other liabilities
-17,310	42,081	-3,081	-14,865	30,058	15,286	47,405	47,406	13,468	9,219	11,566	15,139	13,888	24,868	21,614	16,177	16,208	19,168	0	0	0
Deferred revenue
47,139	138,422	0	0	0	-	-	-	-	40,712	0	0	0	-	23,004	30,725	40,952	47,684	0	0	0
Increase (Decrease) in Contract with Customer, Liability
47,139	138,422	127,747	124,398	121,785	27,393	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Net cash (used in) provided by operating activities
-332,787	-204,487	-127,835	-61,355	-5,292	-62,461	-72,807	-104,653	-104,377	-96,103	-136,940	-150,899	-160,226	-200,141	-160,565	-159,077	-180,345	-105,266	0	0	0
Investing activities:
Payments for the costs of solar energy systems
823,668	815,188	829,321	847,833	842,055	806,365	782,151	776,346	772,799	769,363	706,356	685,765	673,383	678,258	716,321	669,553	628,225	594,887	0	0	0
Purchases of property and equipment
25,933	25,345	23,056	16,139	5,947	4,951	5,079	6,254	6,867	7,956	8,103	8,800	10,131	12,544	15,008	16,547	16,103	13,027	0	0	0
Net cash used in investing activities
-852,323	-843,255	-855,099	-863,972	-848,002	-811,316	-787,230	-782,600	-779,666	-777,319	-714,459	-694,565	-688,514	-695,802	-741,329	-696,100	-663,903	-627,489	0	0	0
Financing activities:
Proceeds from state tax credits, net of recapture
-351	2,253	849	2,782	13,540	10,887	11,937	11,036	336	13,773	12,785	13,129	13,267	9,081	8,791	8,688	8,734	4,685	0	0	0
Payment of debt fees
26,033	28,687	24,769	23,178	23,623	24,849	17,899	18,570	18,272	14,392	6,459	6,419	4,372	13,741	0	0	0	-	-	-	-
Proceeds from pass-through financing and other obligations
9,117	9,140	40,685	124,192	217,365	217,082	185,202	101,331	6,275	6,221	6,444	6,304	7,749	16,047	70,063	89,892	103,737	129,121	0	0	0
Early repayment of pass-through financing obligation
0	-	0	0	0	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Payment of finance lease obligations
13,871	13,919	13,084	11,389	9,913	9,025	8,641	8,655	9,200	9,836	10,676	11,605	12,393	12,759	11,852	9,798	7,367	4,854	0	0	0
Contributions received from noncontrolling interests and redeemable noncontrolling interests
730,669	711,914	668,938	507,990	353,692	345,147	371,303	458,844	575,960	594,921	622,657	637,466	581,163	573,542	482,187	359,663	371,307	275,704	0	0	0
Distributions paid to noncontrolling interests and redeemable noncontrolling interests
77,199	76,654	80,565	80,704	81,582	78,398	66,495	63,196	56,906	54,530	50,554	45,920	42,443	39,542	36,238	33,277	31,202	28,737	0	0	0
Acquisition of noncontrolling interest
0	4,600	4,600	4,600	4,600	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from exercises of stock options, net of withholding taxes paid on restricted stock units
-14,616	-16,196	-8,420	-5,094	-12,329	-12,592	7,434	4,334	608	-1,035	2,867	3,323	6,749	7,364	5,064	4,777	2,038	3,548	0	0	0
Offering costs paid related to initial public offering
-	-	-	-	-	-	-	-	-	-	-	-	-	-437	0	0	0	-	-	-	-
Change in restricted cash
-	-	-	-	-	-	-	-	-	-	-	-	-	-	2,345	3,075	3,936	8,751	0	0	0
Net cash provided by financing activities
1,241,424	1,106,572	1,081,213	1,008,791	919,900	936,386	899,040	924,711	905,433	890,849	862,755	853,892	845,068	899,145	846,365	945,787	947,088	784,465	0	0	0
Net change in cash and restricted cash
56,314	58,830	98,279	83,464	66,606	62,609	39,003	37,458	21,390	17,427	11,356	8,428	-3,672	3,202	-55,529	90,610	102,840	51,710	0	0	0
Supplemental disclosures of cash flow information
Cash paid for interest
107,849	99,472	89,808	80,586	79,925	76,313	68,412	58,269	49,293	42,194	37,798	32,949	30,857	26,191	21,990	19,512	15,644	11,954	0	0	0
Cash paid for income taxes
0	0	0	0	0	0	0	0	0	0	0	0	0	-	-	-	-	-	-	-	-
Supplemental disclosures of noncash investing and financing activities
Purchases of solar energy systems and property and equipment included in accounts payable and accrued expenses
71,080	51,719	62,638	55,246	34,239	27,169	13,864	16,813	14,390	19,625	24,882	28,245	25,246	18,547	30,274	26,659	12,454	15,850	0	0	0
Purchases of solar energy systems included in non-recourse debt
-	-	-	-	-	-	-	-	-	12,873	0	0	0	-	-	-	-	-	-	-	-
Distributions payable to noncontrolling interests and redeemable noncontrolling interests
-	-	-	-	-	-	-	-	-	-	-	0	0	-	10,737	10,196	9,575	8,144	0	0	0
Right-of-use assets obtained in exchange for new finance lease liabilities
14,551	17,914	22,691	23,124	17,746	14,302	9,485	4,218	673	650	490	2,141	5,719	12,961	21,033	27,215	26,593	21,556	0	0	0
Recourse debt
Proceeds from issuance of debt
188,925	185,450	140,000	70,000	55,000	17,000	0	81,000	115,000	170,400	0	292,400	374,800	458,400	0	0	0	-	-	-	-
Repayment of debt
190,000	192,965	147,965	77,965	62,965	17,000	0	81,000	115,400	167,400	0	287,800	318,400	411,400	0	0	0	-	-	-	-
Non-recourse debt
Proceeds from issuance of debt
1,191,648	1,181,549	1,174,218	1,271,561	1,066,296	980,544	0	799,513	806,481	748,806	0	345,445	267,491	335,666	0	0	0	-	-	-	-
Repayment of debt
584,257	670,508	681,661	782,391	609,720	517,594	0	326,610	364,981	362,763	0	91,363	25,820	23,076	20,949	22,585	13,244	11,774	0	0	0