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SEC Filings

10-K
TERRAFORM GLOBAL, INC. filed this Form 10-K on 06/15/2017
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received $6.7 million in cash proceeds from this arrangement, which is classified as other income in the income statement for the year ended December 31, 2016. The Company has not received, and does not expect to receive, any additional cash proceeds from this arrangement going forward.
BioTherm
In August 2015, the Company paid $65.6 million in cash for the interests in the Aries and Konkoonsies solar power plants and the Klipheuwel wind power plant, as well as certain additional rights. In addition to the cash consideration, the Company provided 544,055 shares of its Class A common stock as consideration for the interests in the three power plants. In accordance with the funding arrangements, during the first and third quarters of 2016, the Company received $2.3 million and $1.8 million, respectively, from the escrow account holding the purchase consideration for the Aries and Konkoonsies solar power plants. Additionally, the escrow account increased by $0.2 million during 2016 due to dividends paid on the Class A common stock. In aggregate, this reduced the outstanding balance of the escrow account from $20.3 million as of December 31, 2015 to $16.4 million as of December 31, 2016. Cash paid to the escrow account is reported as non-current restricted cash in the Company’s consolidated balance sheet. Also, in the first and fourth quarters of 2016 the Company received a $1.4 million and a $1.1 million distribution, respectively, from BioTherm with respect to the Klipheuwel wind power plant. The remaining paid consideration of $42.4 million in cash and the August 2015 fair value of the 544,055 shares are reported as a deposit for acquisitions on the Company’s consolidated balance sheet as of December 31, 2016.
During the first quarter of 2017, the Company received $1.3 million from the escrow account holding the purchase consideration for the Aries and Konkoonsies solar power plants. Additionally, in the first quarter of 2017, the Company received a $1.2 million distribution from BioTherm with respect to the Klipheuwel wind power plant. The completion of the BioTherm transaction remains subject to obtaining consents from the project lenders. See Note 4 - Acquisitions for additional details related to this acquisition.
7. ASSET RETIREMENT OBLIGATIONS AND OTHER LIABILITIES
Activity in asset retirement obligations for the years ended December 31, 2016 and 2015 is as follows:
 
Year Ended December 31,
(In thousands)
2016
 
2015
Balance at the beginning of the year
$
8,629

 
$
5,049

     Additional obligations
1,141

 
863

Assumed through acquisition
1,113

 
3,690

     Accretion expense
639

 
369

Foreign currency translation adjustment
(1,212
)
 
(1,342
)
Balance at the end of the year
$
10,310

 
$
8,629

The Company does not have any assets that are legally restricted for the purpose of settling its asset retirement obligations as of December 31, 2016 or 2015. Additionally, there were no revisions of the estimated cash flows for the Company's asset retirement obligations for the years ended December 31, 2016, 2015 and 2014.
As of December 31, 2016, $19.5 million of the $119.2 million balance of accrued expenses and other current liabilities on the Company’s consolidated balance sheet is comprised of an EPC payable to a contractor due in November 2016. As of December 31, 2015, this payable was included in other long-term liabilities on the Company’s consolidated balance sheet. Subsequent to December 31, 2016, the Company paid $19.5 million encompassing the full value of the contractor payable that existed as of December 31, 2016.
8. INTANGIBLE ASSETS
The following table presents the gross carrying amount and accumulated amortization of intangible assets as of December 31, 2016:


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