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SEC Filings

10-Q
TERRAFORM GLOBAL, INC. filed this Form 10-Q on 11/08/2017
Entire Document
 

PART I - Financial Information

Item 1. Financial Statements

TERRAFORM GLOBAL, INC. AND SUBSIDIARIES
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(In thousands, except per share data)
 
Three Months Ended September 30,
Nine Months Ended September 30,
 
2017
 
2016
2017
 
2016
Operating revenues, net
$
67,427

 
$
55,055

$
186,413

 
$
159,171

Operating costs and expenses:
 
 
 
 
 
 
Cost of operations
11,407

 
10,291

34,441

 
32,320

General and administrative
19,006

 
16,315

58,341

 
40,724

Acquisition, formation and related costs
15

 
139

15

 
10,227

Depreciation, accretion and amortization
16,235

 
13,374

52,545

 
40,971

Costs associated with shareholder litigation
33,000

 

33,000

 

Total operating costs and expenses
79,663

 
40,119

178,342

 
124,242

Operating (loss) income
(12,236
)
 
14,936

8,071

 
34,929

Other expense (income):
 
 
 
 
 
 
(Gain) loss on the extinguishment of debt
(36
)
 
5

6,731

 
(5,730
)
Interest expense, net
29,121

 
33,159

88,578

 
95,797

(Gain) loss on foreign currency exchange
(7,114
)
 
4,268

(30,051
)
 
(21,963
)
Other income, net
14

 
(6,762
)
(8,218
)
 
(19,793
)
Total other expenses, net
21,985

 
30,670

57,040

 
48,311

Loss before income tax expense
(34,221
)
 
(15,734
)
(48,969
)
 
(13,382
)
Income tax expense
2,490

 
2,121

7,440

 
5,040

Net loss
(36,711
)
 
(17,855
)
(56,409
)
 
(18,422
)
Less: loss attributable to non-controlling interests
(13,416
)
 
(4,944
)
(21,020
)
 
(1,976
)
Net loss attributable to TerraForm Global, Inc. Class A common stockholders
$
(23,295
)
 
$
(12,911
)
$
(35,389
)
 
$
(16,446
)
 
 
 
 
 
 
 
Weighted average number of shares:
 
 
 
 
 
 
Class A common stock - Basic and Diluted
111,847

 
107,686

112,487

 
107,135

Loss per share:
 
 
 
 
 
 
Class A common stock - Basic and Diluted
$
(0.21
)
 
$
(0.12
)
$
(0.31
)
 
$
(0.15
)
See accompanying notes to unaudited condensed consolidated financial statements.

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