|
Consolidated Statements of Operations (USD $) In Thousands, except Share data, unless otherwise specified
|
3 Months Ended |
|
Mar. 31, 2014
|
Mar. 31, 2013
|
| Revenue: |
|
|
| Electricity sales |
$ 53,871 |
$ 45,232 |
| Energy derivative settlements |
2,735 |
5,408 |
| Unrealized loss on energy derivative |
(7,733) |
(6,803) |
| Related party revenue |
445 |
|
| Other revenue |
231 |
|
| Total revenue |
49,549 |
43,837 |
| Cost of revenue: |
|
|
| Project expense |
16,074 |
12,977 |
| Depreciation and accretion |
21,177 |
22,566 |
| Total cost of revenue |
37,251 |
35,543 |
| Gross profit |
12,298 |
8,294 |
| Operating expenses: |
|
|
| General and administrative |
3,903 |
144 |
| Related party general and administrative |
1,280 |
2,662 |
| Total operating expenses |
5,183 |
2,806 |
| Operating income |
7,115 |
5,488 |
| Other income (expense): |
|
|
| Interest expense |
(14,621) |
(16,642) |
| Equity in losses in unconsolidated investments |
(12,548) |
(10,025) |
| Interest rate derivative settlements |
(1,017) |
|
| Unrealized (loss) gain on derivatives |
(3,723) |
1,931 |
| Related party income |
696 |
|
| Other income, net |
167 |
758 |
| Total other expense |
(31,046) |
(23,978) |
| Net loss before income tax |
(23,931) |
(18,490) |
| Tax (benefit) provision |
(2,032) |
294 |
| Net loss |
(21,899) |
(18,784) |
| Net loss attributable to noncontrolling interest |
(7,010) |
(3,579) |
| Net loss attributable to controlling interest |
(14,889) |
(15,205) |
| Unaudited pro forma net loss after tax: |
|
|
| Net loss before income tax |
|
(18,490) |
| Pro forma tax provision |
|
279 |
| Pro forma net loss |
|
$ (18,769) |
|
Class A Common Stock [Member]
|
|
|
| Weighted average number of shares: |
|
|
| Basic and diluted common stock |
35,533,166 |
|
| Earnings per share |
|
|
| Basic and diluted loss per share |
$ (0.20) |
|
| Cash dividends declared per common share |
$ 0.31 |
|
|
Class B Common Stock [Member]
|
|
|
| Weighted average number of shares: |
|
|
| Basic and diluted common stock |
15,555,000 |
|
| Earnings per share |
|
|
| Basic and diluted loss per share |
$ (0.51) |
|
| Cash dividends declared per common share |
|
|