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SEC Filings

10-K
TERRAFORM GLOBAL, INC. filed this Form 10-K on 06/15/2017
Entire Document
 

TERRAFORM GLOBAL, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF CASH FLOWS
(In thousands)
 
Year Ended December 31,
2016
 
2015
 
2014
Cash flows from operating activities:
 
 
 
 
 
Net loss
$
(78,498
)
 
$
(369,682
)
 
$
(5,039
)
Adjustments to reconcile net loss to net cash (used in) provided by operating activities:
 
 
 
 
 
Amortization of deferred financing costs
9,846

 
21,159

 
1,140

Depreciation, accretion and amortization
55,188

 
28,931

 
7,167

Stock-based compensation expense
3,646

 
1,601

 

Change in fair value of interest rate swaps
5,538

 
(5,639
)
 
705

Provision for contingent loss on deposit for acquisitions

 
231,000

 

Loss on disposal of property
2,735

 

 

Gain on previously held equity investment

 
(1,426
)
 

(Gain) Loss on extinguishment of debt
(5,857
)
 
2,298

 

Unrealized gains on foreign currency, net
3,714

 
(21,747
)
 


Deferred tax expense (benefit)
722

 
3,230

 
1,461

Other non-cash items
1,475

 
(763
)
 
 
Changes in operating assets and liabilities:
 
 
 
 
 
Accounts receivable
28

 
3,187

 
(7,533
)
Prepaid expenses and other assets
3,533

 
51,731

 
(656
)
Accounts payable, accrued expenses and other liabilities
(7,272
)
 
56,921

 
(5,512
)
Due to/from SunEdison, net
(9,035
)
 
4,210

 
23,327

Net cash (used in) provided by operating activities
(14,237
)

5,011


15,060

Cash flows from investing activities:
 
 
 
 
 
Capital expenditures
(77,091
)
 
(99,115
)
 
(190,267
)
Change in cash committed for construction

 
40,573

 
(40,305
)
Change in restricted cash
58,356

 
(29,435
)
 
(1,509
)
Cash paid for acquisitions, net of cash acquired
(32,128
)
 
(266,025
)
 

Proceeds from sale of power purchase agreement

 
10,299

 

Cash paid for equity method investment

 
(72,400
)
 

Cash acquired upon FERSA consolidation
8,022

 

 

Returns from BioTherm escrow and deposits
6,595

 

 

Cash paid for deposit for acquisitions

 
(276,400
)
 

Cash paid for settlement of foreign currency contracts

 
(54,524
)
 

Other
(1,000
)
 

 
228

Net cash used in investing activities
(37,246
)

(747,027
)

(231,853
)
Cash flows from financing activities:
 
 
 
 
 
Proceeds from Bridge Facility

 
400,000

 
150,000

Repayments on Bridge Facility

 
(550,000
)
 

Proceeds from Revolver

 
135,000

 

Repayments on Revolver
(135,000
)
 

 

Proceeds from IPO, net of fees

 
623,970

 

Proceeds from Senior Notes, net of discount

 
799,899

 

Repayments on Senior Notes
(35,441
)
 
(6,800
)
 

Repayments of system debt financing
(35,085
)
 
(475,901
)
 
(8,693
)
Proceeds from system debt financing

 
50,476

 
224,023

Net SunEdison investment
50,577

 
73,292

 
5,930

Proceeds from Private Placement, net of fee

 
549,147

 

Proceeds from loans from SunEdison and affiliates

 

 
3,951

Payment of dividends
(30,674
)
 
(19,887
)
 

Payment of deferred financing costs

 
(42,731
)
 
(9,692
)
Net cash (used in) provided by financing activities
(185,623
)

1,536,465


365,519

Net (decrease) increase in cash and cash equivalents
(237,106
)

794,449


148,726

Effect of exchange rate changes on cash and cash equivalents
(4,319
)
 
(22,277
)
 
(1,728
)
Cash and cash equivalents at beginning of period
922,318


150,146


3,148

Cash and cash equivalents at end of period
$
680,893


$
922,318


$
150,146


TERRAFORM GLOBAL, INC. AND SUBSIDIARIES


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