Print Page  Close Window

SEC Filings
10-K
TERRAFORM POWER, INC. filed this Form 10-K on 03/07/2018
Entire Document
 

Utility that are aggregated into the Solar reportable segment and Northeast Wind, Central Wind and Hawaii Wind that are aggregated into the Wind reportable segment. The operating segments have been aggregated as they have similar economic characteristics and meet all of the aggregation criteria. Corporate expenses include general and administrative expenses, acquisition costs, interest expense on corporate-level indebtedness, stock-based compensation, depreciation, accretion and amortization expense and loss on extinguishment of corporate-level indebtedness. All net operating revenues for the years ended December 31, 2017, 2016 and 2015 were earned by the Company's reportable segments from external customers in the United States (including Puerto Rico), Canada, the United Kingdom and Chile.

The following table reflects summarized financial information concerning the Company’s reportable segments for the years ended December 31, 2017, 2016 and 2015:
 
 
Year Ended December 31, 2017
(In thousands)
 
Solar
 
Wind
 
Corporate
 
Total
Operating revenues, net
 
$
337,233

 
$
273,238

 
$

 
$
610,471

Depreciation, accretion and amortization expense
 
108,695

 
135,785

 
2,240

 
246,720

Other operating costs and expenses
 
66,642

 
105,817

 
150,569

 
323,028

Interest expense, net
 
70,439

 
77,398

 
114,166

 
262,003

Loss on extinguishment of debt, net
 

 
3,151

 
77,948

 
81,099

Gain on sale of renewable energy facilities
 
(37,116
)
 

 

 
(37,116
)
Other non-operating expenses (income), net
 
717

 
499

 
(10,535
)
 
(9,319
)
Income tax benefit1
 

 

 
(23,080
)
 
(23,080
)
Net income (loss)
 
$
127,856

 
$
(49,412
)
 
$
(311,308
)
 
$
(232,864
)
Cash Flows
 
 
 
 
 
 
 
 
Capital expenditures
 
$
302

 
$
7,670

 
$
420

 
$
8,392

Balance Sheet
 
 
 
 
 
 
 
 
Total assets2
 
2,897,036

 
3,400,858

 
89,127

 
6,387,021

 
 
Year Ended December 31, 2016
(In thousands)
 
Solar
 
Wind
 
Corporate
 
Total
Operating revenues, net
 
$
377,488

 
$
277,068

 
$

 
$
654,556

Depreciation, accretion and amortization expense
 
115,050

 
126,735

 
1,580

 
243,365

Other operating costs and expenses
 
140,459

 
91,613

 
90,142

 
322,214

Interest expense, net
 
97,123

 
85,744

 
127,469

 
310,336

Other non-operating (income) expenses, net
 
(1,017
)
 
1,126

 
19,545

 
19,654

Income tax expense1
 

 

 
494

 
494

Net income (loss)
 
$
25,873

 
$
(28,150
)
 
$
(239,230
)
 
$
(241,507
)
Cash Flows
 
 
 
 
 
 
 
 
Capital expenditures
 
$
32,132

 
$
12,177

 
$
1,560

 
$
45,869

Balance Sheet
 
 
 
 
 
 
 
 
Total assets2
 
3,595,387

 
3,609,471

 
501,007

 
7,705,865



149