Consolidated Statements of Cash Flows - USD ($) $ in Thousands |
12 Months Ended |
Dec. 31, 2015 |
Dec. 31, 2014 |
Dec. 31, 2013 |
| Cash flows from operating activities: |
|
|
|
| Net loss |
$ (371,009)
|
$ (5,039)
|
$ (2,277)
|
| Adjustments to reconcile net loss to net cash provided by (used in) operating activities: |
|
|
|
| Amortization of deferred financing costs |
21,159
|
1,140
|
772
|
| Depreciation, accretion and amortization |
28,769
|
7,167
|
4,785
|
| Stock-based compensation expense |
1,601
|
0
|
0
|
| Change in fair value of interest rate swaps |
(5,639)
|
705
|
(158)
|
| Provision for contingent loss on deposit for acquisitions |
231,000
|
0
|
0
|
| Gain on previously held equity investment |
(1,426)
|
0
|
0
|
| Loss on extinguishment of debt |
(2,298)
|
0
|
0
|
| Unrealized gains on foreign currency, net |
(21,383)
|
0
|
|
| Deferred tax expense (benefit) |
3,230
|
1,461
|
(1,956)
|
| Other non-cash items |
(763)
|
|
|
| Changes in operating assets and liabilities: |
|
|
|
| Accounts receivable |
3,187
|
(7,533)
|
(2,766)
|
| Prepaid expenses and other assets |
54,328
|
(656)
|
(3,518)
|
| Accounts payable, accrued expenses and other liabilities |
61,072
|
(5,512)
|
3,892
|
| Due to/from SunEdison, net |
3,197
|
23,327
|
(15,746)
|
| Net cash provided by (used in) by operating activities |
9,621
|
15,060
|
(16,972)
|
| Cash flows from investing activities: |
|
|
|
| Capital expenditures |
(94,253)
|
(190,267)
|
(60,312)
|
| Change in cash committed for construction |
40,573
|
(40,305)
|
(2,120)
|
| Change in restricted cash |
(29,435)
|
(1,509)
|
(38,776)
|
| Cash paid for acquisitions, net of cash acquired |
(266,025)
|
0
|
0
|
| Cash paid for equity method investment |
(72,400)
|
0
|
0
|
| Cash paid for deposit for acquisitions |
(276,400)
|
0
|
0
|
| Cash paid for settlement of foreign currency contracts |
(54,524)
|
0
|
0
|
| Other |
0
|
228
|
(745)
|
| Net cash used in investing activities |
(752,464)
|
(231,853)
|
(101,953)
|
| Cash flows from financing activities: |
|
|
|
| Proceeds from Bridge Facility |
400,000
|
150,000
|
0
|
| Repayments on Bridge Facility |
(550,000)
|
0
|
0
|
| Proceeds from Revolver |
135,000
|
0
|
0
|
| Proceeds from IPO, net of fees |
623,970
|
0
|
0
|
| Proceeds from 2022 Senior Notes, net of discount |
799,899
|
0
|
0
|
| Repayments on 2022 Senior Notes |
(6,800)
|
0
|
0
|
| Repayments of system debt financing |
(475,901)
|
(8,693)
|
(4,922)
|
| Proceeds from system debt financing |
50,476
|
224,023
|
89,025
|
| Net SunEdison investment |
73,786
|
5,930
|
48,066
|
| Proceeds from Private Placement, net of fee |
549,147
|
0
|
0
|
| Proceeds from loans from SunEdison and affiliates |
0
|
3,951
|
2,580
|
| Payment of dividends |
(19,887)
|
0
|
0
|
| Payment of deferred financing costs |
(42,731)
|
(9,692)
|
(16,110)
|
| Net cash provided by financing activities |
1,536,959
|
365,519
|
118,639
|
| Net increase in cash and cash equivalents |
794,116
|
148,726
|
(286)
|
| Effect of exchange rate changes on cash and cash equivalents |
(22,316)
|
(1,728)
|
(576)
|
| Cash and cash equivalents at beginning of period |
150,146
|
3,148
|
4,010
|
| Cash and cash equivalents at end of period |
921,946
|
150,146
|
3,148
|
| Supplemental disclosures: |
|
|
|
| Cash paid for interest, net of amounts capitalized of $1,780, $1,623 and $633, respectively |
73,837
|
22,754
|
8,784
|
| Schedule of non-cash activities: |
|
|
|
| Additions to power plants in due to SunEdison, net |
5,265
|
2,100
|
14,801
|
| Additions of asset retirement obligation (“ARO”) assets and liabilities |
863
|
2,930
|
1,733
|
| ARO assets and obligations from acquisitions |
3,690
|
0
|
0
|
| Decrease in due to SunEdison, net in exchange for equity |
76,362
|
0
|
0
|
| Long-term debt assumed in connection with acquisitions |
470,963
|
0
|
0
|
| Viability Gap Funding subsidies receivable |
17,910
|
0
|
0
|
| Class A Common Stock |
|
|
|
| Schedule of non-cash activities: |
|
|
|
| Issuance of Class A common stock in connection with acquisitions of power plants |
189,384
|
0
|
0
|
| Class B Common Stock |
|
|
|
| Schedule of non-cash activities: |
|
|
|
| Non-controlling interest in Global LLC (Class B units) issued in connection with the initial public offering |
$ 463,859
|
$ 0
|
$ 0
|