SEC Filings

Form 10-K
TERRAFORM POWER, INC. filed this Form 10-K on 03/15/2019
Document Outline
Entire Document (16353.8 KB)
Subdocument 1 - 10-K - 10-K
Page 1 - UNITED STATES
Page 2 - DOCUMENTS INCORPORATED BY REFERENCE
Page 3 - TerraForm Power, Inc. and Subsidiaries
Page 4 - CAUTIONARY STATEMENT CONCERNING FORWARD-LOOKING STATEMENTS
Page 5 - GLOSSARY OF TERMS
Page 6 - PART I
Page 7 - Incentive Distribution RightsItem 7. Management s Discussion and Analysis of Financial Condition and
Page 8 - Our Business Strategy
Page 9 - Sponsorship Arrangements
Page 10 - Changes within Our Portfolio
Page 11 - N/A
Page 12 - N/A
Page 13 - Seasonality and Resource Availability
Page 14 - Environmental Matters
Page 15 - Spain
Page 16 - Government Incentives and Legislation
Page 17 - U.S. Tax Reform
Page 18 - Business Segments
Page 19 - Item 1A. Risk Factors.
Page 20 - Counterparties to our PPAs may not fulfill their obligations or may seek to terminate the PPA early,
Page 21 - We may not be able to replace expiring PPAs with contracts on similar terms. If we are unable to rep
Page 22 - We face competition from traditional utilities and renewable energy companies.
Page 23 - A portion of our revenues is attributable to the sale of renewable energy credits and solar renewabl
Page 24 - We may not be able to successfully integrate the operations, technologies and personnel of our Europ
Page 25 - Developers of renewable energy facilities depend on a limited number of suppliers of solar panels, i
Page 26 - Operation of renewable energy facilities involves significant risks and hazards that could have a ma
Page 27 - We are exposed to foreign currency exchange risks because certain of our renewable energy facilities
Page 28 - Our business is subject to substantial governmental regulation and may be adversely affected by chan
Page 29 - Revenues in our Portuguese wind farms are affected by regulation and government incentives.
Page 30 - Revenue from our concessional assets in Uruguay is significantly dependent on long-term fixed rate a
Page 31 - Our international operations require us to comply with anti-corruption laws and regulations of the U
Page 32 - Harming of protected species can result in curtailment of wind power plant operations, monetary fine
Page 33 - Any cyber-attack or other failure of the Company s communications and technology infrastructure and
Page 34 - The seasonality of our operations may affect our liquidity.
Page 35 - Uncertainty regarding LIBOR may adversely affect the interest we pay under certain of our indebtedne
Page 36 - We may not be able to effectively identify or consummate any future acquisitions. Additionally, even
Page 37 - We may not have access to all operating wind and solar acquisitions that Brookfield identifies.
Page 38 - Our payout ratio has recently exceeded our long-term target and, in some periods, our CAFD. If this
Page 39 - Certain of our stockholders have accumulated large concentrations of holdings of our Class A shares,
Page 40 - If securities or industry analysts do not publish or cease publishing research or reports about us,
Page 41 - A significant portion of our assets consists of long-lived assets, the value of which may be reduced
Page 42 - We are a controlled company controlled by Brookfield, whose interest in our business may be differen
Page 43 - Brookfield s sponsorship may create significant conflicts of interest that may be resolved in a mann
Page 44 - If we are deemed to be an investment company, we may be required to institute burdensome compliance
Page 45 - Our ability to use NOLs to offset future income may be limited.
Page 46 - Concentrated solar power
Page 47 - Stock Performance Graph
Page 48 - Item 6. Selected Financial Data.
Page 49 - Item 7. Management s Discussion and Analysis of Financial Condition and Results of Operations.
Page 50 - Factors that Significantly Affect our Results of Operations and Business
Page 51 - Seasonality and resource variability
Page 52 - Renewable energy facility acquisitions and investments
Page 53 - Key Metrics
Page 54 - Consolidated Results of Operations
Page 55 - Year Ended December 31, 2018 Compared to Year Ended December 31, 2017
Page 56 - Note 5. Renewable Energy Facilities
Page 57 - Impairment of Renewable Energy Facilities
Page 58 - Interest Expense, Net
Page 59 - Loss on Investments and Receivables - Affiliate
Page 60 - Year Ended December 31, 2017 Compared to Year Ended December 31, 2016
Page 61 - Costs of Operations
Page 62 - Goodwill Impairment
Page 63 - Loss on Extinguishment of Debt, net
Page 64 - Income Tax (Benefit) Expense
Page 65 - Liquidity Position
Page 66 - Financing Activities
Page 67 - Term Loan
Page 68 - Note 10. Long-term Debt
Page 69 - Cash Flow Discussion
Page 70 - Net Cash Provided by Financing Activities
Page 71 - Business Combinations
Page 72 - Impairment of Renewable Energy Facilities and Intangibles
Page 73 - Depreciable lives of Long-lived Assets
Page 74 - Foreign Currency Risk
Page 75 - Customer Concentration
Page 76 - 2018 Remediation Activities
Page 77 - Material Weaknesses in Internal Control
Page 78 - Changes in Internal Control over Financial Reporting
Page 79 - PART IV
Page 80 - Report of Independent Registered Public Accounting Firm
Page 81 - Report of Independent Registered Public Accounting Firm
Page 82 - Report of Independent Registered Public Accounting Firm
Page 83 - TERRAFORM POWER, INC. AND SUBSIDIARIES
Page 84 - TERRAFORM POWER, INC. AND SUBSIDIARIES
Page 85 - TERRAFORM POWER, INC. AND SUBSIDIARIES
Page 86 - TERRAFORM POWER, INC. AND SUBSIDIARIES
Page 87 - TERRAFORM POWER, INC. AND SUBSIDIARIES
Page 88 - TERRAFORM POWER, INC. AND SUBSIDIARIES
Page 89 - TERRAFORM POWER, INC. AND SUBSIDIARIES
Page 90 - TERRAFORM POWER, INC. AND SUBSIDIARIES
Page 91 - Note 14. Stockholders' EquityNote 19. Related Parties
Page 92 - Reconciliation of Cash and Cash Equivalents and Restricted Cash as Presented in the Consolidated Sta
Page 93 - Finite-Lived Intangibles
Page 94 - Note 7. Goodwill
Page 95 - Asset Retirement Obligations
Page 96 - Note 17.Non-controlling Interests
Page 97 - Regulated Solar and Wind Revenue
Page 98 - Solar and Wind Incentive Revenue
Page 99 - Adoption of ASU 2018-02
Page 100 - Non-controlling Interests and Hypothetical Liquidation at Book Value ( HLBV )
Page 101 - Initial Recognition
Page 102 - Note 13. Fair Value of Financial Instruments
Page 103 - Assets Held for Sale
Page 104 - Recently Adopted Accounting Standards - Additional Guidance Adopted in 2018
Page 105 - Compensation - Stock Compensation (Topic 718): Scope of Modification Accounting
Page 106 - Fair Value Measurement (Topic 820): Disclosure Framework Changes to the Disclosure Requirements for
Page 107 - 3. REVENUE
Page 108 - Topic 606 Adoption Impact on the Consolidated Balance Sheet
Page 109 - Note 13. Fair Value of Financial Instruments
Page 110 - Unaudited Pro Forma Supplementary Data
Page 111 - Acquisitions of Renewable Energy Facilities from SunEdison
Page 112 - 6. ASSET RETIREMENT OBLIGATIONS
Page 113 - 4. Acquisitions and Dispositions
Page 114 - N/A
Page 115 - 9. VARIABLE INTEREST ENTITIES
Page 116 - 10. LONG-TERM DEBT
Page 117 - Revolver
Page 118 - Sponsor Line Agreement
Page 119 - Covenants and Cross-defaults
Page 120 - Non-recourse Long-term Debt
Page 121 - Non-recourse Debt Defaults
Page 122 - 11. INCOME TAXES
Page 123 - Effective Tax Rate
Page 124 - N/A
Page 125 - 12. DERIVATIVES
Page 126 - N/A
Page 127 - N/A
Page 128 - Note 4. Acquisitions and Dispositions
Page 129 - Note 2. Summary of Significant Accounting Policies
Page 130 - Foreign Currency Contracts
Page 131 - Note 12. Derivatives
Page 132 - Nonrecurring Fair Value Measurements
Page 133 - Issuance of Class A Common Stock to Affiliates
Page 134 - Issuance of Shares upon Final Resolution of Chamblee Class Action
Page 135 - 15. STOCK-BASED COMPENSATION
Page 136 - Restricted Stock Units
Page 137 - Stock Options
Page 138 - 17. NON-CONTROLLING INTERESTS
Page 139 - N/A
Page 140 - CONSOLIDATED STATEMENTS OF OPERATIONS
Page 141 - Note 2. Summary of Significant Accounting Policies
Page 142 - Guarantee Agreements
Page 143 - Whistleblower Complaint By Francisco Perez Gundin
Page 144 - Chile Project Arbitration
Page 145 - 19. RELATED PARTIES
Page 146 - Relationship Agreement
Page 147 - Amended and Restated Terra LLC Agreement
Page 148 - Recovery of Short-swing Profit Claim
Page 149 - SunEdison Matters
Page 150 - Historical Engineering, Procurement and Construction Contracts and Module Warranties
Page 151 - Note 18. Commitments and Contingencies
Page 152 - N/A
Page 153 - Operating Revenues, net
Page 154 - Long-lived Assets, Net
Page 155 - 21. ACCUMULATED OTHER COMPREHENSIVE INCOME
Page 156 - 22. QUARTERLY FINANCIAL INFORMATION (UNAUDITED)
Page 157 - 23. SUBSEQUENT EVENTS
Page 158 - N/A
Page 159 - N/A
Page 160 - N/A
Page 161 - N/A
Page 162 - SIGNATURES
Subdocument 2 - EX-4.2 - EXHIBIT 4.2
Page 1 - Exhibit 4.3
Page 2 - N/A
Page 3 - Transferability of IDRsTransferring HolderOffer NoticeSection 3.8Section 7.4Section 3.8Section 3.8Se
Page 4 - EXHIBIT C SCHEDULE OF MEMBERS
Page 5 - N/A
Subdocument 3 - EX-10.3 - EXHIBIT 10.3
Page 1 - N/A
Subdocument 4 - EX-10.12 - EXHIBIT 10.12
Page 1 - Exhibit 10.12
Page 2 - First Amendment
Page 3 - 1.2Amendments to Section 6.1: Indebtedness
Page 4 - provided
Page 5 - B. Due Authorization.
Page 6 - G. Absence of Default
Page 7 - B. Headings.
Subdocument 5 - EX-10.13 - EXHIBIT 10.13
Page 1 - Exhibit 10.13
Page 2 - New Lender
Page 3 - N/A
Page 4 - Consolidated ReturnHoldings Group
Page 5 - Borrower Covenants
Page 6 - N/A
Page 7 - IN WITNESS WHEREOF
Subdocument 6 - EX-21.1 - EXHIBIT 21.1
Page 1 - Exhibit 21.1
Page 2 - Each entity marked with a * is a Guarantor
Page 3 - Each entity marked with a * is a Guarantor
Page 4 - Each entity marked with a * is a Guarantor
Page 5 - Each entity marked with a * is a Guarantor
Page 6 - Each entity marked with a * is a Guarantor
Page 7 - Each entity marked with a * is a Guarantor
Page 8 - Each entity marked with a * is a Guarantor
Page 9 - Each entity marked with a * is a Guarantor
Page 10 - Each entity marked with a * is a Guarantor
Page 11 - Each entity marked with a * is a Guarantor
Page 12 - Each entity marked with a * is a Guarantor
Page 13 - Each entity marked with a * is a Guarantor
Page 14 - Each entity marked with a * is a Guarantor
Page 15 - Each entity marked with a * is a Guarantor
Page 16 - Each entity marked with a * is a Guarantor
Page 17 - Each entity marked with a * is a Guarantor
Page 18 - Each entity marked with a * is a Guarantor
Page 19 - Each entity marked with a * is a Guarantor
Page 20 - Each entity marked with a * is a Guarantor
Page 21 - Each entity marked with a * is a Guarantor
Subdocument 7 - EX-23.1 - EXHIBIT 23.1
Page 1 - N/A
Subdocument 8 - EX-23.2 - EXHIBIT 23.2
Page 1 - Exhibit 23.2
Page 2 - N/A
Subdocument 9 - EX-23.3 - EXHIBIT 23.3
Page 1 - N/A
Subdocument 10 - EX-23.4 - EXHIBIT 23.4
Page 1 - N/A
Subdocument 11 - EX-31.1 - EXHIBIT 31.1
Page 1 - N/A
Subdocument 12 - EX-31.2 - EXHIBIT 31.2
Page 1 - N/A
Subdocument 13 - EX-32 - EXHIBIT 32
Page 1 - N/A
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