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

Consolidated Results of Operations

The amounts shown in the table below represent the results of TerraForm Power, which consolidates Terra LLC through its controlling interest. The following table illustrates the consolidated results of operations for the years ended December 31, 2018, 2017 and 2016:
 
 
Year Ended December 31,
(In thousands)
 
2018
 
2017
 
2016
Operating revenues, net
 
$
766,570

 
$
610,471

 
$
654,556

Operating costs and expenses:
 
 
 
 
 
 
Cost of operations
 
220,907

 
150,733

 
113,302

Cost of operations - affiliate
 

 
17,601

 
26,683

General and administrative expenses
 
87,722

 
139,874

 
89,995

General and administrative expenses - affiliate
 
16,239

 
13,391

 
14,666

Acquisition costs
 
7,721

 

 
2,743

Acquisition costs - affiliate
 
6,925

 

 

Impairment of goodwill
 

 

 
55,874

Impairment of renewable energy facilities
 
15,240

 
1,429

 
18,951

Depreciation, accretion and amortization expense
 
341,837

 
246,720

 
243,365

Total operating costs and expenses
 
696,591

 
569,748

 
565,579

Operating income
 
69,979

 
40,723

 
88,977

Other expenses (income):
 
 
 
 
 
 
Interest expense, net
 
249,211

 
262,003

 
310,336

Loss on extinguishment of debt, net
 
1,480

 
81,099

 
1,079

Gain on sale of renewable energy facilities
 

 
(37,116
)
 

(Gain) loss on foreign currency exchange, net
 
(10,993
)
 
(6,061
)
 
13,021

Loss on investments and receivables - affiliate
 

 
1,759

 
3,336

Other (income) expenses, net
 
(4,102
)
 
(5,017
)
 
2,218

Total other expenses, net
 
235,596

 
296,667

 
329,990

Loss before income tax (benefit) expense
 
(165,617
)
 
(255,944
)
 
(241,013
)
Income tax (benefit) expense
 
(12,290
)
 
(19,641
)
 
2,734

Net loss
 
(153,327
)
 
(236,303
)
 
(243,747
)
Less: Net income attributable to redeemable non-controlling interests
 
9,209

 
1,596

 
6,482

Less: Net loss attributable to non-controlling interests
 
(174,916
)
 
(77,745
)
 
(126,718
)
Net income (loss) attributable to Class A common stockholders
 
$
12,380

 
$
(160,154
)
 
$
(123,511
)



















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