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SEC Filings

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

The following tables reflect summarized financial information concerning the Company’s reportable segments for the three and nine months ended September 30, 2017 and 2016:
 
 
Three Months Ended September 30, 2017
 
Three Months Ended September 30, 2016
(In thousands)
 
Solar
 
Wind
 
Corporate
 
Total
 
Solar
 
Wind
 
Corporate
 
Total
Operating revenues, net
 
$
29,384

 
$
38,043

 
$

 
$
67,427

 
$
27,963

 
$
27,092

 
$

 
$
55,055

Depreciation, accretion and amortization
 
7,452

 
8,783

 

 
16,235

 
6,736

 
6,638

 

 
13,374

Other operating costs and expenses
 
4,392

 
8,887

 
50,149

 
63,428

 
3,682

 
6,629

 
16,434

 
26,745

Interest expense (income), net
 
10,805

 
(39
)
 
18,355

 
29,121

 
9,179

 
(227
)
 
24,207

 
33,159

Other non-operating expenses (income)
 
11,925

 
1,679

 
(20,740
)
 
(7,136
)
 
13,961

 
2,656

 
(19,106
)
 
(2,489
)
Income tax expense¹
 

 

 
2,490

 
2,490

 

 

 
2,121

 
2,121

Net (loss) income
 
$
(5,190
)
 
$
18,733

 
$
(50,254
)
 
$
(36,711
)
 
$
(5,595
)
 
$
11,396

 
$
(23,656
)
 
$
(17,855
)

 
 
Nine Months Ended September 30, 2017
 
Nine Months Ended September 30, 2016
(In thousands)
 
Solar
 
Wind
 
Corporate
 
Total
 
Solar
 
Wind
 
Corporate
 
Total
Operating revenues, net
 
$
90,883

 
$
95,530

 
$

 
$
186,413

 
$
85,580

 
$
73,591

 
$

 
$
159,171

Depreciation, accretion and amortization
 
21,672

 
30,873

 

 
52,545

 
19,117

 
21,854

 

 
40,971

Other operating costs and expenses
 
14,662

 
25,025

 
86,110

 
125,797

 
14,955

 
19,957

 
48,359

 
83,271

Interest expense (income), net
 
30,873

 
(254
)
 
57,959

 
88,578

 
31,813

 
(2,276
)
 
66,260

 
95,797

Other non-operating expenses (income)
 
21,331

 
3,124

 
(55,993
)
 
(31,538
)
 
32,510

 
5,698

 
(85,694
)
 
(47,486
)
Income tax expense¹
 

 

 
7,440

 
7,440

 

 

 
5,040

 
5,040

Net income (loss)
 
$
2,345

 
$
36,762

 
$
(95,516
)
 
$
(56,409
)
 
$
(12,815
)
 
$
28,358

 
$
(33,965
)
 
$
(18,422
)

The following table reflects reportable segment assets as of September 30, 2017 and December 31, 2016:
Balance Sheet
 
As of September 30, 2017
 
As of December 31, 2016
(In thousands)
 
Solar
 
Wind
 
Corporate
 
Total
 
Solar
 
Wind
 
Corporate
 
Total
Total assets²
 
$
531,044

 
$
377,035

 
$
1,521,164

 
$
2,429,243

 
$
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.

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