Vivint solar, inc. (VSLR)
CashFlow / Yearly
Dec'19Dec'18Dec'17Dec'16Dec'15Dec'14Dec'13
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss

-423,320

-279,563

8,470

-242,537

-253,265

-165,919

-56,470

Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization

81,930

69,634

61,164

46,821

24,924

8,523

1,984

Excess tax detriment from stock-based compensation

-

-

-

1,713

-

-

-

Non-cash contributions for services

-

-

-

-

-

-

160

Deferred income taxes

151,548

106,862

-52,828

174,090

107,466

74,848

30,927

Amortization of intangible assets

-

-

-

901

13,172

15,042

14,595

Impairment of goodwill and intangible assets

-

-

-

36,601

4,506

-

-

Stock-based compensation

16,418

13,163

12,917

10,614

25,604

23,687

294

Loss on solar energy systems and property and equipment

17,493

7,400

6,858

6,432

1,024

-

-

Noncash interest and other expense

8,841

17,006

9,422

7,161

3,724

6,712

2,930

Reduction in lease pass-through financing obligation

4,654

4,433

4,515

4,239

231

-

-

Losses on interest rate swaps

4,377

148

-359

1,591

-

-

-

Changes in operating assets and liabilities:
Accounts receivable, net

10,107

-5,458

7,007

9,022

1,799

1,018

512

Inventories

7,319

-9,340

11,312

10,654

-143

195

-

Prepaid expenses and other current assets

5,998

-2,805

-10,864

32,526

576

10,486

3,605

Prepaid tax asset, net

-

-

86,409

141,978

165,586

81,172

30,738

Other non-current assets, net

182,108

7,828

5,502

6,078

5,268

8,451

741

Accounts payable

-1

1,898

-285

2,698

1,636

1,905

1,425

Accounts payablerelated party

-

-

-

-1,714

-227

-935

2,592

Accrued compensation

8,349

4,762

495

5,567

-892

-1,073

10,367

Deferred revenue

14,623

-926

16,756

6,018

43,492

3,387

1,340

Accrued and other liabilities

15,515

8,915

6,699

-10,541

12,909

-773

4,579

Net cash used in operating activities

-323,167

-45,655

-33,854

-165,690

-189,244

-135,918

-20,873

CASH FLOWS FROM INVESTING ACTIVITIES:
Payments for the cost of solar energy systems

314,932

331,716

276,651

405,635

540,399

383,522

134,138

Payments for property and equipment

1,984

543

672

2,785

6,307

3,505

-

Proceeds from disposals of solar energy systems and property and equipment

3,453

3,379

2,428

913

-

-

-

Proceeds from tax credits and U.S. Treasury grants

-

-

-

-

-

190

10,116

Purchase of intangible assets

2,373

223

-

291

1,221

370

-

Change in restricted cash and cash equivalents

-

-

-

11,818

8,519

1,516

3,500

Proceeds from state tax credits

-

-

3,720

5,169

-

-

-

Payment in connection with business acquisition, net of cash acquired

-

-

-

-

-

12,040

-

Net cash used in investing activities

-315,836

-329,103

-271,175

-414,447

-556,446

-400,763

-127,522

Proceeds from investment by non-controlling interests and redeemable non-controlling interests

384,371

300,742

213,728

277,848

292,729

339,512

123,154

Distributions paid to non-controlling interests and redeemable non-controlling interests

51,881

54,732

47,289

32,134

25,541

8,751

2,284

Proceeds from long-term debt

563,480

984,425

356,750

589,246

310,850

105,000

-

Payments on long-term debt

279,054

700,143

172,495

233,244

-

-

-

Payments for debt issuance and deferred offering costs

16,053

21,209

13,917

16,774

6,011

-

-

Proceeds from lease pass-through financing obligation

3,661

3,609

3,581

2,388

7,228

-

-

Principal payments on finance lease obligations

1,480

3,323

4,467

5,657

5,363

2,623

987

Payments on revolving lines of credit

-

-

-

-

-

-

2,000

Proceeds from revolving lines of creditrelated party

-

-

-

-

-

154,500

83,482

Payments on revolving lines of creditrelated party

-

-

-

-

-

200,192

60,000

Payments for deferred offering costs

-

-

-

-

-

8,066

-

Net proceeds from issuance of common stock

1,003

1,347

637

2,837

649

412,912

-

Net cash provided by financing activities

604,047

510,716

336,528

584,510

576,254

792,292

142,783

Proceeds from short-term debt

-

-

-

-

-

75,500

-

Payments on short-term debt

-

-

-

-

-

75,500

-

Excess tax benefits from stock-based compensation

-

-

-

-

1,713

-

-

Capital contribution from Parent

-

-

-

-

-

-

1,418

NET DECREASE IN CASH AND CASH EQUIVALENTS, INCLUDING RESTRICTED AMOUNTS

-34,956

135,958

31,499

4,373

-169,436

255,611

-5,612

SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION:
Cash paid for interest, net

74,534

42,928

51,127

23,733

8,469

4,473

206

Cash recovered from income taxes, net

2,118

11,194

33,245

-15,905

-67,135

4,350

4

NONCASH INVESTING AND FINANCING ACTIVITIES:
Accrued distributions to non-controlling interests and redeemable non-controlling interests

-

-

-261

-4,829

-4,567

5,204

1,450

Change in fair value of interest rate swaps

-

-

-

14,317

-

-

-

Costs of solar energy systems included in changes in accounts payable, accrued compensation and accrued and other liabilities

60,178

8,503

610

-4,508

-6,589

25,990

19,946

Right-of-use assets obtained in exchange for new operating lease liabilities

12,217

-

-

-

-

-

-

Right-of-use assets obtained in exchange for new finance lease liabilities

9,482

1,622

874

1,947

11,363

8,541

4,749

Costs of lessor-financed tenant improvements

-

-

-

7,850

-

-

-

Property acquired under build-to-suit agreements

-

-

-

2,896

25,560

-

-

Sale-leaseback of property under build-to-suit agreements

-

-

-

28,456

-

-

-

Solar energy system sales
Receivable for state tax credits recorded as a reduction to solar energy system costs

-

-

102

-

-

-

-