XML 49 R7.htm IDEA: XBRL DOCUMENT v3.3.0.814
CONDENSED COMBINED AND CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2015
Sep. 30, 2014
Cash flows from operating activities:    
Net income $ 22,843 [1] $ 7,129
Adjustments to reconcile net income to net cash flows provided by operating activities:    
Depreciation and amortization expense 17,873 [1] 10,324
Deferred income taxes 872 [1] 638
Stock based compensation 1,992 [1] 362
Amortization of deferred financing costs 295 [1] 580
Bad debt expense 6,082 [1] 3,973
Gain (loss) on derivatives, net 6,118 [1] (262)
Current period cash settlements on derivatives, net (15,120) [1] 7,252
Accretion of discount to convertible subordinated notes to affiliate 21 [1] 0
Changes in assets and liabilities:    
Decrease in restricted cash 707 [1] 0
Decrease in accounts receivable 18,566 [1] 9,741
Decrease (increase) in accounts receivable—affiliates (216) [1] 6,310
Decrease (increase) in inventory 2,978 [1] (5,338)
Increase in customer acquisition costs (17,725) [1] (20,366)
Decrease (increase) in prepaid and other current assets 11,110 [1] (4,658)
Increase in intangible assets—customer acquisitions (2,776) [1] 0
Increase in other assets (256) [1] (146)
Decrease in accounts payable and accrued liabilities (14,610) [1] (5,890)
Increase in accounts payable—affiliates 849 [1] 851
Increase (decrease) in other current liabilities (1,534) [1] 1,465
Increase in other non-current liabilities 1,606 [1] 0
Net cash provided by operating activities 39,675 [1] 11,965
Cash flows from investing activities:    
Purchases of property and equipment (1,255) [1] (2,214)
Acquisition of CenStar and Oasis net assets (41,234) [1] 0
Investment in eRex joint venture (330) [1] 0
Net cash used in investing activities (42,819) [1] (2,214)
Cash flows from financing activities:    
Borrowings on credit facilities 52,225 [1] 60,280
Payments on credit facilities (38,000) [1] (38,280)
Member contributions (distributions), net 0 [1] (36,406)
Contributions from NuDevco 129 [1] 0
Proceeds from issuance of Class A common stock 0 [1] 50,220
Distributions of proceeds from Offering to affiliate 0 [1] (47,554)
Payment of Note Payable to NuDevco 0 [1] (50)
Offering costs 0 [1] (2,667)
Issuance of convertible subordinated notes to affiliate 7,075 [1] 0
Restricted stock vesting (265) [1] 0
Payment of dividends to Class A common shareholders (3,333) [1] 0
Payment of distributions to Class B unitholders (11,691) [1] 0
Net cash provided by (used in) financing activities 6,140 [1] (14,457)
Increases (decreases) in cash and cash equivalents 2,996 [1] (4,706)
Cash and cash equivalents—beginning of period 4,359 [1] 7,189
Cash and cash equivalents—end of period 7,355 [1] 2,483
Non cash items:    
Property and equipment purchase accrual 11 [1] 81
CenStar Earnout accrual 500 0
Supplemental Cash Flow Information [Abstract]    
Interest 1,061 [1] 484
Taxes $ 157 [1] $ 150
[1] Financial information has been recast to include results attributable to the acquisition of Oasis Power Holdings LLC on May 12, 2015 from an affiliate. See Note 2 “Basis of Presentation” and Note 3 "Acquisitions" for further discussion.