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SEC Filings
10-K
TERRAFORM POWER, INC. filed this Form 10-K on 03/15/2019
Entire Document
 

 
 
Year Ended December 31, 2017
(In thousands)
 
Solar
 
Wind
 
Corporate
 
Total
Operating revenues, net
 
$
337,233

 
$
273,238

 
$

 
$
610,471

Depreciation, accretion and amortization expense
 
108,695

 
135,785

 
2,240

 
246,720

Impairment of renewable energy facilities
 
1,429

 

 

 
1,429

Other operating costs and expenses
 
65,213

 
105,817

 
150,569

 
321,599

Operating income (loss)
 
161,896

 
31,636

 
(152,809
)
 
40,723

Interest expense, net
 
70,439

 
77,398

 
114,166

 
262,003

Loss on extinguishment of debt, net
 

 
3,151

 
77,948

 
81,099

Gain on sale of renewable energy facilities
 
(37,116
)
 

 

 
(37,116
)
Other non-operating expenses (income), net
 
717

 
499

 
(10,535
)
 
(9,319
)
Income tax benefit
 

 

 
(19,641
)
 
(19,641
)
Net income (loss)
 
$
127,856

 
$
(49,412
)
 
$
(314,747
)
 
$
(236,303
)
Cash Flows
 
 
 
 
 
 
 
 
Capital expenditures
 
$
302

 
$
7,670

 
$
420

 
$
8,392

Balance Sheet
 
 
 
 
 
 
 
 
Total assets1
 
2,897,036

 
3,400,858

 
89,127

 
6,387,021

 
 
Year Ended December 31, 2016
(In thousands)
 
Solar
 
Wind
 
Corporate
 
Total
Operating revenues, net
 
$
377,488

 
$
277,068

 
$

 
$
654,556

Depreciation, accretion and amortization expense
 
115,050

 
126,735

 
1,580

 
243,365

Impairment of renewable energy facilities
 
18,951

 

 

 
18,951

Other operating costs and expenses
 
121,508

 
91,613

 
90,142

 
303,263

Operating income (loss)
 
121,979

 
58,720

 
(91,722
)
 
88,977

Interest expense, net
 
97,123

 
85,744

 
127,469

 
310,336

Other non-operating expenses, net
 
(1,017
)
 
1,126

 
19,545

 
19,654

Income tax expense
 

 

 
2,734

 
2,734

Net income (loss)
 
$
25,873

 
$
(28,150
)
 
$
(241,470
)
 
$
(243,747
)
Cash Flows
 
 
 
 
 
 
 
 
Capital expenditures
 
$
32,132

 
$
12,177

 
$
1,560

 
$
45,869

———
(1)
As of December 31, 2018 and 2017, respectively.

Operating Revenues, net
The following table reflects operating revenues, net for the years ended December 31, 2018, 2017 and 2016 by specific customers exceeding 10% of total operating revenue:
 
 
 
 
Year Ended December 31,
 
 
 
 
2018
 
2017
 
2016
(In thousands, except for percentages)
 
Segment
 
Amount
 
Percentage
 
Amount
 
Percentage
 
Amount
 
Percentage
Comisión Nacional de los Mercados y la Competencia (CNMC)1
 
Regulated Solar and Wind
 
$
127,912

 
16.7
%
 
N/A

 
N/A

 
N/A

 
N/A

Tennessee Valley Authority2
 
Wind
 
N/A

 
N/A

 
$
79,773

 
13.1
%
 
$
73,068

 
11.2
%
San Diego Gas & Electric2
 
Solar
 
N/A

 
N/A

 
63,905

 
10.5

 
65,709

 
10.0

———


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