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

Basic and diluted loss per share of the Company's Class A common stock for the years ended December 31, 2016, 2015 and 2014 was calculated as follows:
 
 
Year Ended December 31,
(In thousands, except per share amounts)
 
2016
 
2015
 
2014
Basic and diluted loss per share1:
 
 
 
 
 
 
Net loss attributable to Class A common stockholders
 
$
(129,847
)
 
$
(79,886
)
 
$
(25,617
)
Less: accretion of redeemable non-controlling interest
 
(3,962
)
 

 

Less: dividends paid on Class A shares and participating RSAs
 

 
(74,377
)
 

Undistributed loss attributable to Class A shares
 
$
(133,809
)
 
$
(154,263
)
 
$
(25,617
)
 
 
 
 
 
 
 
Weighted average basic and diluted Class A shares outstanding
 
90,815

 
65,883

 
29,602

 
 
 
 
 
 
 
Distributed earnings per share
 
$

 
$
1.09

 
$

Undistributed loss per share
 
(1.47
)
 
(2.34
)
 
(0.87
)
Basic and diluted loss per share
 
$
(1.47
)
 
$
(1.25
)
 
$
(0.87
)
———
(1)
The computations for diluted loss per share of the Company's Class A common stock for the year ended December 31, 2016 exclude 459,800 of unvested RSAs and 1,622,953 of unvested RSUs because the effect would have been anti-dilutive. The computations for diluted loss per share of the Company's Class A common stock for the year ended December 31, 2015 exclude 1,334,158 of unvested RSAs, 3,208,394 of unvested RSUs and 56,250 vested and exercisable options to purchase the Company's shares because the effect would have been anti-dilutive, and the computations for diluted loss per share of the Company's Class A common stock for the year ended December 31, 2014 exclude 3,485,155 of unvested RSAs, 825,943 of unvested RSUs and 150,000 options to purchase the Company's shares because the effect would have been anti-dilutive.

18. NON-CONTROLLING INTERESTS

Non-controlling Interests

Non-controlling interests represent the portion of net assets in consolidated entities that are not owned by the Company. The following table presents the non-controlling interest balances reported in stockholders’ equity in the consolidated balance sheets as of December 31, 2016 and 2015:
(In thousands)
 
December 31, 2016
 
December 31, 2015
SunEdison's non-controlling interest in Terra LLC
 
$
660,799

 
$
897,409

Non-controlling interests in renewable energy facilities
 
804,243

 
858,117

Total non-controlling interests
 
$
1,465,042

 
$
1,755,526


As of December 31, 2016, TerraForm Power owned 65.7% of Terra LLC and consolidated the results of Terra LLC through its controlling interest, with SunEdison's 34.3% interest shown as a non-controlling interest.

Non-controlling Interest Buyout

On March 31, 2015, the Company completed the buyout of approximately 92% of one of the partners' tax equity ownership interest in the Company's Kaheawa Wind Power I facility. The value associated with the buyout was deemed to be the fair value of the non-controlling interest as of the acquisition date. The cash paid for this buyout was $54.7 million.



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