Print Page  |  Close Window

SEC Filings

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

Year Ended December 31, 2016 Compared to Year Ended December 31, 2015
The following table reflects the changes in cash flows for the comparative periods:
(In thousands)
 
Year Ended December 31,
 
 
 
2016
 
2015
 
Change
Net cash (used in) provided by operating activities
 
(14,237
)
 
5,011

 
$
(19,248
)
Net cash used in investing activities
 
(37,246
)
 
(747,027
)
 
709,781

Net cash (used in) provided by financing activities
 
(185,623
)
 
1,536,465

 
(1,722,088
)
Net Cash (Used In) Provided By Operating Activities
Net cash used in operating activities for the year ended December 31, 2016 was $14.2 million, compared to net cash provided by operating activities for the year ended December 31, 2015 of $5.0 million. The increase in net cash used in operations of $19.2 million was primarily driven by increased corporate costs and costs related to being a public company, increased restructuring and advisory expenditures as a result of the SunEdison Bankruptcy and costs related to standalone organization setup.
Net Cash Used In Investing Activities
Net cash used in investing activities for the year ended December 31, 2016 was $37.2 million, compared to net cash used in operating activities for the year ended December 31, 2015 of $747.0 million. The decrease in net cash used in investing activities of $709.8 million was primarily driven by a decrease in cash paid for acquisitions and a decrease in cash paid for deposits for acquisitions.
Net Cash (Used In) Provided By Financing Activities
Net cash used by financing activities for the year ended December 31, 2016 was $185.6 million, compared to net cash provided by financing activities for the year ended December 31, 2015 of $1,536.5 million. The decrease in net cash provided by financing activities of $1,722.1 million was driven by a $799.9 million decrease in net proceeds from the Senior Notes, a $624.0 million decrease in proceeds from the IPO, a $549.1 million decrease in proceeds from the private placement investments in the Company and a $135.0 million decrease in proceeds from the Revolver, partially offset by $440.8 million of net repayments of project level term debt facilities during 2015.
Year Ended December 31, 2015 Compared to Year Ended December 31, 2014
The following table reflects the changes in cash flows for the comparative periods:
(In thousands)
 
Year Ended December 31,
 
 
 
2015
 
2014
 
Change
Net cash provided by operating activities
 
5,011

 
15,060

 
$
(10,049
)
Net cash used in investing activities
 
(747,027
)
 
(231,853
)
 
(515,174
)
Net cash provided by financing activities
 
1,536,465

 
365,519

 
1,170,946

Net Cash Provided By Operating Activities
Net cash provided by operating activities for the year ended December 31, 2015 was $5.0 million, compared to net cash provided by operating activities for the year ended December 31, 2014 of $15.1 million. The decrease in net cash used in operations of $10.0 million was primarily driven by increased operating costs paid due to additional power plants reaching commercial operation and acquisitions.
Net Cash Used In Investing Activities
Net cash used in investing activities for the year ended December 31, 2015 was $747.0 million, compared to net cash used in operating activities for the year ended December 31, 2014 of $231.9 million. The increase in net cash used in investing activities of $515.2 million was driven by $266.0 million of cash paid for acquisitions, net of cash acquired, related to Honiton, NSM 24, Witkop/Soutpan and Renova (Bahia and Salvador) and $276.4 million of cash paid for deposit for acquisitions, partially offset by other activity.


93