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SEC Filings
10-K
TERRAFORM POWER, INC. filed this Form 10-K on 07/21/2017
Entire Document
 

The following table presents changes to the Company's previously reported consolidated balance sheet as of December 31, 2015 included in the Company's 2015 Annual Report on Form 10-K:
(In thousands)
Balance Sheet Caption
 
As Reported
 
Recast Adjustments
 
As Recasted
Renewable energy facilities, net
 
$
5,802,380

 
$
31,854

 
$
5,834,234

Other assets
 
119,960

 
383

 
120,343

Change in total assets
 
 
 
$
32,237

 
 
 
 
 
 
 
 
 
Current portion of long-term debt and financing lease obligations1
 
$
2,014,331

 
$
23,588

 
$
2,037,919

Accounts payable, accrued expenses and other current liabilities
 
150,721

 
2,325

 
153,046

Due to SunEdison, net
 
20,274

 
6,324

 
26,598

Change in total liabilities
 

 
$
32,237

 

———
(1)
There is a $17.6 million difference between the as reported amount per the table above and the current portion of long-term debt and financing lease obligations amount reported in the Company's 2015 Annual Report on Form 10-K due to the reclassification of the current portion of deferred financing costs, net amount reported in the 2015 Form 10-K to current portion of long-term debt and financing lease obligations within the consolidated balance sheet included in this Form 10-K. This reclassification was made per the Company's adoption of ASU No. 2015-03 as of January 1, 2016, which requires retrospective application for annual and interim reporting periods beginning on or after December 15, 2015. Refer to Note 2. Summary of Significant Accounting Policies for further discussion.

The following table presents changes to the Company's previously reported consolidated statement of cash flows for the year ended December 31, 2015 included in the Company's 2015 Annual Report on Form 10-K:
(In thousands)
Statement of Cash Flows Caption
 
As Reported
 
Recast Adjustments
 
As Recasted
Cash flows from investing activities:
 
 
 
 
 
 
Cash paid to third parties for renewable energy facility construction
 
$
(617,649
)
 
$
(29,912
)
 
$
(647,561
)
Change in net cash used in investing activities
 
 
 
(29,912
)
 
 
 
 
 
 
 
 
 
Cash flows from financing activities:
 
 
 
 
 
 
Borrowings of non-recourse long-term debt
 
1,425,033

 
25,674

 
1,450,707

Principal payments on non-recourse long-term debt
 
(515,514
)
 
(2,086
)
 
(517,600
)
Due to SunEdison, net
 
(145,247
)
 
6,324

 
(138,923
)
Change in net cash provided by financing activities
 
 
 
29,912

 
 
 
 
 
 
 
 
 
Net increase in cash and cash equivalents
 
160,442

 

 
160,442

Effect of exchange rate changes on cash and cash equivalents
 
(2,401
)
 

 
(2,401
)
Cash and cash equivalents at beginning of period
 
468,554

 

 
468,554

Cash and cash equivalents at end of period
 
$
626,595

 
$

 
$
626,595


Acquisitions of Renewable Energy Facilities from SunEdison

The assets and liabilities transferred to the Company for the acquisitions of renewable energy facilities relate to interests under common control with SunEdison, and accordingly, have been recorded at historical cost. The difference between the cash purchase price and historical cost of the net assets acquired is recorded as a contribution or distribution from SunEdison.



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