Terraform power, inc. (TERP)
CashFlow / TTM
Mar'20Dec'19Sep'19Jun'19Mar'19Dec'18Sep'18Jun'18Mar'18Dec'17Sep'17Jun'17Mar'17Dec'16Sep'16Jun'16Mar'16Dec'15Sep'15Jun'15Mar'15Dec'14Sep'14Jun'14Mar'14
Cash flows from operating activities:
Net loss

-237,774

-206,585

-145,548

-102,286

-113,071

-153,327

-264,780

-282,083

-256,343

-236,303

-232,093

-223,450

-266,515

-243,747

-262,180

-232,051

-157,980

-208,135

-114,934

-119,547

-164,502

-81,923

0

0

0

Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation, accretion and amortization expense

449,532

434,110

424,265

413,576

383,216

341,837

299,858

258,095

251,323

246,720

251,378

247,536

245,345

243,365

225,642

211,321

188,426

161,310

133,342

102,920

69,930

41,280

0

0

0

Amortization of favorable and unfavorable rate revenue contracts, net

40,705

39,940

37,934

38,054

38,088

38,767

39,595

39,619

39,566

39,576

39,550

39,418

39,543

40,219

33,833

20,606

16,143

5,304

2,231

8,442

3,854

4,190

0

0

0

Impairment of renewable energy facilities

-

-

-

-

-

15,240

15,240

15,240

16,669

1,429

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Loss on disposal of renewable energy facilities

16,527

15,483

-298

2,849

4,298

6,231

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Amortization of deferred financing costs, debt premiums and discounts, net

15,235

14,224

10,760

10,894

10,778

11,009

11,969

17,974

21,774

23,729

24,310

18,954

20,045

24,160

21,300

30,741

28,073

27,028

34,258

23,442

33,014

25,793

0

0

0

Unrealized loss on interest rate swaps

-3,242

-14,036

-39,279

-26,124

-18,422

-4,497

7,266

4,355

-9,078

-6,847

-9,192

-8,997

-9,894

-11,773

-7,274

-4,800

3,241

-1,413

855

-1,814

-4,302

0

0

0

0

Unrealized loss (gain) on commodity contract derivatives, net

0

-

0

0

0

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Recognition of deferred revenue

-

-

-

-

-

1,320

8,072

13,098

14,715

18,238

18,529

18,223

18,192

16,527

14,014

13,310

12,158

9,909

5,469

1,105

267

258

0

0

0

Non-cash incentive revenue

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

Non-cash interest expense

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

Stock-based compensation expense

661

492

564

387

417

257

9,890

11,651

14,269

16,778

9,251

8,813

7,545

6,059

6,952

8,097

9,004

13,125

14,250

13,261

10,931

5,787

0

0

0

Loss (gain) on modification and extinguishment of debt, net

-36,089

-26,953

4,188

5,543

4,063

-1,480

0

0

0

-

-

-

-

-

-

-

-

-16,156

-17,332

928

-12,403

7,635

0

0

0

Gain on foreign currency exchange, net

0

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Gain on foreign currency exchange, net

-

-

-

-

-

-

-

-

5,552

5,583

-4,171

-9,346

-19,709

-15,795

-17,423

-24,101

-4,808

-22,343

-18,152

-13,921

-25,694

-11,920

0

0

0

Deferred taxes

35,582

6,983

-19,640

-19,079

-18,273

-14,891

-22,915

-21,790

-21,486

-19,911

7,493

5,591

3,192

2,615

-13,252

-12,700

-13,435

-13,497

2,064

3,019

-4,322

-4,773

0

0

0

Loss on investments and receivables - affiliate

-

-

-

-

-

-

-

-

-

-

-

-

-

3,336

16,924

16,924

16,924

16,079

0

0

0

-

-

-

-

Charges to allowance for doubtful accounts

0

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Other, net

500

231

85

-315

-2,969

0

-6,117

-4,324

3,183

254

6,233

7,550

1,968

2,542

11,682

9,912

9,396

9,395

0

0

0

-

-

-

0

Changes in assets and liabilities, excluding the effect of acquisitions:
Accounts receivable

-9,202

8,310

871

2,447

-9,921

-12,569

2,837

-21,108

-1,633

2,939

-14,754

-3,928

-6,625

-3,112

-20,378

-12,365

4,782

11,272

32,625

44,146

16,909

3,431

0

0

0

Prepaid expenses and other current assets

13,217

-975

5,388

15,532

10,557

5,512

-14,954

-18,912

-9,169

-803

1,755

-770

-991

8,585

6,445

5,865

-5,217

-12,189

0

0

0

-

-

-

-

Accounts payable, accrued expenses and other current liabilities

-24,937

-17,000

-736

-10,503

-39,759

-18,976

-54,781

-61,727

-43,500

-42,537

-11,949

5,587

11,336

-1,156

9,318

13,313

26,836

19,887

-3,736

1,000

-13,633

4,062

0

0

0

VAT receivable, prepaid expenses and other current assets

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

Due to affiliates, net

3,704

4,215

683

1,957

3,087

3,023

7,927

6,276

3,369

3,968

0

0

0

-

-

-

-

-

-

-

31,689

4,422

0

0

0

Deferred revenue

-

-

-

-

-

-

-

-

-

-

-

-

5,625

4,803

2,815

4,514

12,089

19,383

52,681

63,103

76,210

71,129

0

0

0

Other, net

-14,892

-28,783

-43,032

-38,841

-35,354

-33,822

-9,483

-2,837

-1,084

-29

-2,356

-3,639

-2,048

-3,932

2,454

2,970

-2,271

1,919

406

-5,844

0

0

0

0

0

Restricted cash from operating activities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

-

-

-

Net cash provided by operating activities

329,212

328,444

370,377

354,203

286,111

253,201

125,859

87,395

84,058

67,197

139,258

162,727

191,763

191,809

163,920

173,329

170,143

124,260

162,705

107,291

94,229

84,227

0

0

0

Cash flows from investing activities:
Capital expenditures

14,822

21,184

23,633

22,734

27,093

22,445

16,240

13,657

9,036

8,392

11,643

13,565

16,234

45,869

101,226

237,089

496,907

647,561

943,490

1,046,032

1,201,611

1,122,293

0

0

0

Proceeds from energy rebate and reimbursable interconnection costs

2,687

5,117

5,632

6,353

7,485

8,733

10,282

9,497

29,763

25,679

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from the settlement of foreign currency contracts, net

68,559

29,806

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Payments to acquire businesses, net of cash and restricted cash acquired

811,215

731,782

0

0

0

-

-

-

-

-

-

-

-

4,064

1,277,391

1,277,021

1,438,322

2,432,226

1,448,253

1,613,029

1,628,647

644,890

0

0

0

Other investing activities

-729

0

4,019

2,707

2,272

1,543

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Other investing activities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

8,400

10,000

10,000

10,000

0

0

0

0

Change in restricted cash

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

40,921

-

-373

-18,963

-1,730

-23,635

0

0

0

Acquisition of Saeta business, net of cash and restricted cash acquired

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

26,153

70,960

74,273

71,167

56,088

0

0

0

Net cash used in investing activities

-812,110

-774,633

-715,005

-12,640

-864,165

-858,998

-867,988

-827,999

209,712

206,272

195,213

185,858

-21,872

-49,933

-1,365,036

-1,528,134

-1,937,015

-3,114,340

-2,472,330

-2,724,371

-2,909,695

-1,799,636

0

0

0

Cash flows from financing activities:
Proceeds from issuance of Class A common stock, net of issuance costs

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

921,610

1,258,410

1,692,031

1,112,613

770,421

0

0

0

Change in restricted cash for principal debt service

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1,897

0

0

0

Proceeds from Senior Notes due

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

-

-

0

0

Repayment of term loan

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-

0

0

0

Revolver draws

0

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Revolver repayments

0

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Term Loan principal payments

0

-

0

0

0

-

0

0

-10,995

-

-122,597

-63,925

-17,842

0

490,303

447,192

531,418

517,600

374,034

432,601

356,517

341,191

0

0

0

Revolver repayments

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-

-

-

-

-

-

-

-

Proceeds from borrowings of non-recourse long-term debt

-

-

-

-

-

-

-

-

-

-

-

-

166,497

86,662

1,017,930

1,109,803

1,114,269

1,450,707

710,343

265,197

494,192

471,923

0

0

0

Borrowings of non-recourse long-term debt

0

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Senior Notes prepayment penalties

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

6,412

6,412

6,412

6,429

0

0

0

0

Principal payments and prepayments on non-recourse long-term debt

0

-

0

0

0

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from the Bridge Facility

-

-

-

-

-

-

0

0

317,000

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Revolver repayments

-

-

-

-

-

-

-

0

589,000

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Debt financing fees paid

39,650

37,597

17,866

15,701

8,381

9,318

27,168

29,889

29,315

29,972

14,706

16,671

15,727

17,436

29,542

28,780

33,505

59,672

54,327

66,363

69,460

54,060

0

0

0

Contributions from non-controlling interests

3,802

6,356

5,562

5,562

5,562

7,685

7,685

7,685

7,685

6,935

8,119

8,354

8,008

16,685

282,361

320,210

354,851

349,736

241,306

207,604

174,694

164,742

0

0

0

Purchase of membership interests and distributions to non-controlling interests

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

58,291

51,777

31,555

16,659

0

0

0

0

Repurchase of non-controlling interests in renewable energy facilities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

63,198

54,694

54,694

54,694

0

0

0

0

Purchase of membership interests and distributions to non-controlling interests

0

-

0

0

0

-

0

0

0

-

0

0

27,304

-

25,873

25,048

21,433

28,145

22,809

18,208

14,207

1,323

0

0

0

Due to/from affiliates, net

-

-

-

-

-

-

-

2,344

814

8,869

6,317

24,682

25,483

32,256

177,724

194,806

244,053

138,923

-62,888

-244,367

-288,371

-199,369

0

0

0

Proceeds from affiliates

-

-

-

-

-

-

-

-

-

7,694

12,699

21,228

20,087

42,463

63,940

79,356

126,663

149,936

127,126

286,633

422,553

405,062

0

0

0

Cash distributions to Class A common stockholders

0

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Cash distributions to Class A common stockholders

-

-

-

-

-

-

-

341,513

313,505

285,497

0

0

0

-

-

-

-

88,705

67,956

41,159

22,374

7,249

0

0

0

Payment to terminate interest rate swaps

-16,331

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Other financing activities

0

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net cash provided by (used in) financing activities

467,323

406,812

193,210

-532,644

747,292

782,501

640,941

396,357

-874,045

-789,513

-477,566

-268,724

-120,608

-187,194

1,252,773

1,678,508

2,328,343

3,238,505

2,687,293

2,992,364

2,747,154

2,183,091

0

0

0

Net increase in cash, cash equivalents and restricted cash

0

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net increase in cash, cash equivalents and restricted cash

-

-

-

-

-

-

-

-

-

-

-

-

49,283

-

51,657

323,703

561,471

248,425

377,668

375,284

-68,312

467,682

0

0

0

Net change in cash, cash equivalents and restricted cash classified within assets held for sale

-

-

-

-

-

-

-

-

-

-

-

-

0

-

-

-

0

-

-

-

0

-

-

-

-

Net (decrease) increase in cash, cash equivalents and restricted cash

-

-

-

-

-

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Effect of exchange rate changes on cash, cash equivalents and restricted cash

-3,758

-3,932

-14,346

-7,485

-12,801

-8,682

-3,826

-2,578

3,401

3,188

-875

-4,642

-10,608

-10,072

-9,499

-7,644

-4,298

-4,946

-1,210

-668

-755

-172

0

0

0

Supplemental Disclosures:
Cash paid for interest

273,776

294,145

291,702

310,177

302,379

250,734

249,213

233,584

219,540

260,685

255,713

260,021

257,488

257,269

223,603

188,864

163,054

114,452

138,229

115,656

92,364

79,867

0

0

0

interest capitalized

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

-

-

-

Cash paid for income taxes

2,179

2,062

3,915

1,984

430

430

667

0

0

0

0

0

0

0

0

0

0

0

0

0

0

-

-

-

0

Schedule of non-cash activities:
Additions of asset retirement obligation (ARO) assets and liabilities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

52,181

59,088

67,468

58,229

34,414

0

0

0

Principal payments on long-term debt from solar renewable energy certificates

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

ARO assets and obligations from acquisitions

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

74,293

42,879

46,475

47,155

29,450

0

0

0

Long-term debt assumed in connection with acquisitions

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

667,384

160,720

578,038

683,633

550,936

0

0

0