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SEC Filings

10-Q
TERRAFORM GLOBAL, INC. filed this Form 10-Q on 06/27/2017
Entire Document
 

Corporate expenses include general and administrative expenses, acquisition costs, formation and offering related fees and expenses, interest expense on corporate level indebtedness and stock-based compensation.
The following table reflects summarized financial information concerning the Company’s reportable segments for the three months ended March 31, 2017 and 2016:
 
 
Three Months Ended March 31, 2017
 
Three Months Ended March 31, 2016
(In thousands)
 
Solar
 
Wind
 
Corporate
 
Total
 
Solar
 
Wind
 
Corporate
 
Total
Operating revenues, net
 
$
32,943

 
$
23,541

 
$

 
$
56,484

 
$
28,739

 
$
18,947

 
$

 
$
47,686

Depreciation, accretion and amortization
 
7,142

 
7,959

 

 
15,101

 
5,872

 
8,700

 

 
14,572

Other operating costs and expenses
 
5,133

 
7,794

 
17,381

 
30,308

 
6,443

 
7,429

 
16,549

 
30,421

Interest expense (income), net
 
9,942

 
(117
)
 
20,664

 
30,489

 
12,260

 
(1,767
)
 
23,170

 
33,663

Other non-operating (income) expenses
 
4,129

 
(191
)
 
(23,864
)
 
(19,926
)
 
4,246

 
1,988

 
(31,814
)
 
(25,580
)
Income tax expense (benefit)¹
 

 

 
2,465

 
2,465

 

 

 
858

 
858

Net income (loss)
 
$
6,597

 
$
8,096

 
$
(16,646
)
 
$
(1,953
)
 
$
(82
)
 
$
2,597

 
$
(8,763
)
 
$
(6,248
)

The following table reflects reportable segment assets as of March 31, 2017 and December 31, 2016:
Balance Sheet
 
As of March 31, 2017
 
 
 
As of December 31, 2016
 
 
(In thousands)
 
Solar
 
Wind
 
Corporate
 
Total
 
Solar
 
Wind
 
Corporate
 
Total
Total assets²
 
$
573,894

 
$
359,777

 
$
1,520,729

 
$2,454,400
 
$
556,452

 
$
448,621

 
$
1,443,206

 
$
2,448,279

(1)
Income tax benefit is not allocated to the Company’s Solar and Wind segments.
(2)
Corporate assets include cash and cash equivalents, intercompany accounts receivable, other current assets and other assets.


18. OTHER COMPREHENSIVE INCOME (LOSS)
Comprehensive income (loss) represents a measure of all changes in equity that result from recognized transactions and other economic events other than transactions with owners in their capacity as owners. Other comprehensive income (loss) includes foreign currency translations and gains (losses) on hedging instruments.
The following table presents the changes in each component of accumulated other comprehensive income (loss), net of tax:
(In thousands)
Foreign Currency Translation Adjustments
 
Hedging Activities
 
Accumulated Other Comprehensive Income
Balance as of December 31, 2016
$
13,801

 
$
(2,972
)
 
$
10,829

Other comprehensive income (loss)

12,581

 
(2,468
)
 
10,113

Less: other comprehensive income (loss) attributable to non-controlling interests
5,948

 
(1,653
)
 
4,295

Balance as of March 31, 2017
$
20,434

 
$
(3,787
)
 
$
16,647


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