Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands |
6 Months Ended |
Jun. 30, 2018 |
Jun. 30, 2017 |
| Operating activities |
|
|
| Net loss |
$ (14,394)
|
$ (12,145)
|
| Adjustments to reconcile net loss to net cash provided by operating activities: |
|
|
| Depreciation, amortization and accretion |
110,431
|
92,258
|
| Contingent liability accretion |
5,716
|
0
|
| Impairment loss |
4,238
|
0
|
| Amortization of financing costs |
2,526
|
3,852
|
| Amortization of debt discount/premium, net |
2,477
|
2,227
|
| Amortization of power purchase agreements, net |
3,894
|
1,489
|
| Loss (gain) on derivatives |
(1,542)
|
10,331
|
| Stock-based compensation |
2,277
|
2,768
|
| Deferred taxes |
10,914
|
9,149
|
| Earnings in unconsolidated investments, net |
(17,470)
|
(31,395)
|
| Distributions from unconsolidated investments |
33,041
|
31,710
|
| Other reconciling items |
(67)
|
(1,017)
|
| Changes in operating assets and liabilities: |
|
|
| Counterparty collateral asset |
23,956
|
9,199
|
| Trade receivables |
(9,689)
|
(7,995)
|
| Prepaid expenses |
899
|
2,202
|
| Other current assets |
6,316
|
(3,638)
|
| Other assets (non-current) |
(1,737)
|
2,561
|
| Accounts payable and other accrued liabilities |
(13,889)
|
31,001
|
| Counterparty collateral liability |
(23,956)
|
(9,199)
|
| Accrued interest |
166
|
8,569
|
| Other current liabilities |
(7,141)
|
4,333
|
| Long-term liabilities |
7,858
|
10,648
|
| Contingent liabilities |
(1,508)
|
275
|
| Derivatives |
228
|
0
|
| Net cash provided by operating activities |
123,544
|
157,183
|
| Investing activities |
|
|
| Cash paid for acquisitions, net of cash and restricted cash acquired |
(157,543)
|
(170,028)
|
| Payment for construction advances/deposits |
(53,727)
|
0
|
| Payment for construction in progress |
(24,644)
|
0
|
| Capital expenditures |
(7,441)
|
(39,087)
|
| Distributions from unconsolidated investments |
4,333
|
8,390
|
| Other assets |
(319)
|
|
| Other assets |
|
7,552
|
| Investment in Pattern Development 2.0 |
(57,055)
|
0
|
| Other investing activities |
0
|
12
|
| Net cash used in investing activities |
(296,396)
|
(193,161)
|
| Financing activities |
|
|
| Dividends paid |
(82,487)
|
(71,544)
|
| Capital distributions - noncontrolling interest |
(21,274)
|
(9,163)
|
| Payment for financing fees |
(6,954)
|
(7,740)
|
| Proceeds from revolving credit facility |
333,000
|
85,000
|
| Repayment of revolving credit facility |
(132,000)
|
(205,000)
|
| Proceeds from long-term debt |
126,775
|
404,395
|
| Repayment of long-term debt |
(34,541)
|
(74,824)
|
| Repayment of note payable - related party |
(909)
|
0
|
| Repayment of short-term debt |
154
|
(3,618)
|
| Net cash provided by financing activities |
181,764
|
117,506
|
| Effect of exchange rate changes on cash, cash equivalents and restricted cash |
(2,388)
|
2,248
|
| Net increase in cash, cash equivalents and restricted cash including cash classified within current assets and liabilities held for sale |
6,524
|
83,776
|
| Add: Net (decrease) in cash classified within current assets and liabilities held for sale |
(13,626)
|
0
|
| Net change in cash, cash equivalents and restricted cash |
(7,102)
|
83,776
|
| Cash, cash equivalents and restricted cash at beginning of period |
137,980
|
109,371
|
| Cash, cash equivalents and restricted cash at end of period |
130,878
|
193,147
|
| Supplemental disclosures |
|
|
| Cash payments for income taxes |
443
|
288
|
| Cash payments for interest expense |
48,721
|
33,666
|
| Business combination: |
|
|
| Assets acquired, net of cash and restricted cash acquired |
627,241
|
665,014
|
| Liabilities assumed |
352,570
|
148,456
|
| Less: Noncontrolling interests |
11,113
|
325,600
|
| Net assets acquired, net of cash and restricted cash acquired |
263,558
|
190,958
|
| Schedule of non-cash activities |
|
|
| Change in property, plant and equipment |
117,103
|
1,110
|
| Change in other assets |
202
|
2,492
|
| Accrual of dividends |
$ 87
|
$ 0
|