Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands |
9 Months Ended |
Sep. 30, 2016 |
Sep. 30, 2015 |
| Operating activities |
|
|
| Net loss |
$ (55,744)
|
$ (51,734)
|
| Adjustments to reconcile net loss to net cash provided by operating activities: |
|
|
| Depreciation and accretion |
130,782
|
102,108
|
| Amortization of financing costs |
5,242
|
5,581
|
| Amortization of debt discount/premium, net |
3,147
|
798
|
| Amortization of power purchase agreements, net |
2,278
|
1,175
|
| Loss on derivatives, net |
29,757
|
793
|
| Stock-based compensation |
4,362
|
3,234
|
| Deferred taxes |
3,681
|
340
|
| Earnings in unconsolidated investments |
(15,755)
|
(813)
|
| Distributions from unconsolidated investments |
377
|
0
|
| Realized loss on derivatives, net |
0
|
10,192
|
| Early extinguishment of debt |
0
|
3,958
|
| Other reconciling items |
44
|
1,221
|
| Changes in operating assets and liabilities: |
|
|
| Funds deposited by counterparty |
(46,643)
|
0
|
| Trade receivables |
6,078
|
5,657
|
| Prepaid expenses |
(1,005)
|
3,994
|
| Other current assets |
(3,554)
|
(6,583)
|
| Other assets (non-current) |
865
|
(2,022)
|
| Accounts payable and other accrued liabilities |
(2,658)
|
4,180
|
| Counterparty deposit liability |
46,643
|
0
|
| Related party receivable/payable |
164
|
506
|
| Accrued interest |
(6,017)
|
1,970
|
| Other current liabilities |
492
|
764
|
| Long-term liabilities |
4,835
|
83
|
| Increase in restricted cash |
(1,972)
|
(2,120)
|
| Net cash provided by operating activities |
105,399
|
83,282
|
| Investing activities |
|
|
| Cash paid for acquisitions, net of cash acquired |
(4,024)
|
(406,284)
|
| Decrease in restricted cash |
23,293
|
41,820
|
| Increase in restricted cash |
(79)
|
(33,890)
|
| Capital expenditures |
(31,554)
|
(315,954)
|
| Distributions from unconsolidated investments |
40,066
|
23,494
|
| Other assets |
1,619
|
4,650
|
| Other investing activities |
(136)
|
0
|
| Net cash provided by (used in) investing activities |
29,185
|
(686,164)
|
| Financing activities |
|
|
| Proceeds from public offering, net of issuance costs |
286,583
|
317,822
|
| Proceeds from issuance of convertible senior notes, net of issuance costs |
0
|
219,557
|
| Repurchase of shares for employee tax withholding |
(64)
|
(331)
|
| Dividends paid |
(85,159)
|
(63,455)
|
| Payment for deferred equity issuance costs |
0
|
(1,940)
|
| Buyout of noncontrolling interest |
0
|
(121,224)
|
| Capital contributions - noncontrolling interest |
0
|
193,064
|
| Capital distributions - noncontrolling interest |
(11,771)
|
(4,382)
|
| Decrease in restricted cash |
41,054
|
41,429
|
| Increase in restricted cash |
(36,027)
|
(41,184)
|
| Refund of deposit for letters of credit |
0
|
3,425
|
| Payment for deferred financing costs |
(134)
|
(8,445)
|
| Proceeds from revolving credit facility |
20,000
|
295,000
|
| Repayment of revolving credit facility |
(340,000)
|
(100,000)
|
| Proceeds from construction loans |
0
|
294,502
|
| Repayment of long-term debt |
(39,322)
|
(405,036)
|
| Payment for interest rate derivatives |
0
|
(11,061)
|
| Other financing activities |
(569)
|
0
|
| Net cash provided by (used in) financing activities |
(165,409)
|
607,741
|
| Effect of exchange rate changes on cash and cash equivalents |
1,750
|
(3,319)
|
| Net change in cash and cash equivalents |
(29,075)
|
1,540
|
| Cash and cash equivalents at beginning of period |
94,808
|
101,656
|
| Cash and cash equivalents at end of period |
65,733
|
103,196
|
| Supplemental disclosures |
|
|
| Cash payments for income taxes |
233
|
293
|
| Cash payments for interest expense, net of capitalized interest |
59,172
|
49,239
|
| Acquired property, plant and equipment from acquisitions |
0
|
579,712
|
| Schedule of non-cash activities |
|
|
| Change in property, plant and equipment |
6,132
|
20,744
|
| Non-cash increase in additional paid-in capital from buyout of noncontrolling interests |
0
|
16,715
|
| Equity issuance costs paid in prior period related to current period offerings |
$ 0
|
$ 433
|