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SEC Filings
10-K
TERRAFORM POWER, INC. filed this Form 10-K on 07/21/2017
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During the year ended December 31, 2015, the Company acquired 10 solar generation facilities with a combined nameplate capacity of 3.8 MW for a purchase price of $19.9 million, net of cash acquired. The facilities are located in Ontario, Canada.

Acquisition Accounting for the 2015 Acquisitions

The acquisition accounting for the First Wind, Northern Lights, Integrys and other solar generation facilities acquisitions was completed as of the fourth quarter of 2015, at which point the provisional fair values became final. The final amounts for these acquisitions are included in the table within the "Acquisition Accounting" section of this footnote below.
    
The acquisition accounting for the Invenergy Wind acquisition was initially completed as of the second quarter of 2016, at which point the provisional fair values became final. However, during the fourth quarter of 2016, management identified immaterial errors in the final opening balance sheet. The errors resulted in an increase of $45.9 million to renewable energy facilities, a decrease of $37.0 million to intangible assets, an increase of $3.0 million to accounts payable, accrued expenses and other current liabilities, an increase of $5.0 million to other long-term liabilities, a decrease of $7.1 million to redeemable non-controlling interest and an increase of $8.0 million to non-controlling interest. The final amounts for this acquisition are included in the table directly below.

The opening balance sheet errors, including the income statement impact, were corrected in the fourth quarter of 2016. The income statement impact resulted in an increase to depreciation expense and a net decrease to amortization expense. If the errors had been corrected in the second quarter of 2016, it would have resulted in a $0.4 million decrease in the net loss for the three and six months ended June 30, 2016 reported in the Form 10-Q for the second quarter of 2016 and a $0.4 million and $0.8 million decrease, respectively, in the net loss for the three and nine months ended September 30, 2016 reported in the Form 10-Q for the third quarter of 2016. Management performed an assessment of the balance sheet and income statement impact on its previously issued second and third quarter filings and determined it to be immaterial.

 
Invenergy Wind
 
2015 Final
(In thousands)
As of June 30, 2016
 
Q4 2016 Corrections
 
As of December 31, 2016
Renewable energy facilities
$
1,477,888

 
$
45,903

 
$
1,523,791

Accounts receivable
25,811

 

 
25,811

Intangible assets
748,300

 
(37,000
)
 
711,300

Restricted cash
31,247

 

 
31,247

Derivative assets
32,311

 

 
32,311

Other assets
20,148

 

 
20,148

Total assets acquired
2,335,705

 
8,903

 
2,344,608

Accounts payable, accrued expenses and other current liabilities
23,195

 
3,041

 
26,236

Long-term debt, including current portion
531,221

 

 
531,221

Deferred income taxes
242

 

 
242

Asset retirement obligations
47,346

 

 
47,346

Other long-term liabilities
6,004

 
5,000

 
11,004

Total liabilities assumed
608,008

 
8,041

 
616,049

Redeemable non-controlling interest
140,635

 
(7,138
)
 
133,497

Non-controlling interest
308,000

 
8,000

 
316,000

Purchase price, net of cash acquired
$
1,279,062

 
$

 
$
1,279,062




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