XML 26 R7.htm IDEA: XBRL DOCUMENT v3.19.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2016
CASH FLOWS FROM OPERATING ACTIVITIES:      
Net income (loss) $ 29,318 $ (8,580) $ 31,368
Adjustments to reconcile net income (loss) to net cash provided by operating activities:      
Depreciation and amortization of property and equipment 106,666 89,124 66,591
Loss on disposal of property and equipment 1,206 569 1,994
Deferred income taxes 1,943 (981) 0
Amortization of debt issuance costs 1,636 1,303 922
Bad debt expense 207 423 383
Loss on extinguishment of debt 0 2,065 0
Equity in net losses of investments 331 1,077 5,764
Equity-based compensation 35,733 84,790 5,935
Amortization of portfolio energy credits 2,467 169 872
Amortization of Notes Receivable Discount (Premium) 0 0 (267)
Other than Temporary Impairment Losses, Investments, Portion Recognized in Earnings, Net 0 0 7,696
Changes in operating assets and liabilities:      
Accounts receivable (187) (6,435) (1,101)
Prepaid expenses (1,744) (1,116) 187
Other current assets (231) (261) (122)
Other assets (5,353) (1,221) (463)
Accounts payable (312) 5,079 (238)
Accrued salaries and benefits 47 991 3,144
Accrued expenses 3,309 (2,435) 4,353
Accrued impact fee expense 0 (27,018) 27,018
Deferred revenue 2,196 6,006 10,605
Customer deposits 1,328 1,695 1,360
Other long-term liabilities (230) (143) 64
Net cash provided by operating activities 178,330 145,101 166,065
CASH FLOWS FROM INVESTING ACTIVITIES:      
Acquisition of property and equipment (275,524) (402,561) (287,097)
Acquisition of intangible asset (25) (32) 0
Purchase of portfolio energy credits 2,608 169 872
Proceeds from sale of property and equipment     0
Proceeds from sale of property and equipment 62 100  
Purchase of equity method investment 0 (211) (468)
Payments to Acquire Notes Receivable 0 0 (3,000)
Purchase of equity method investment 0 0 1,500
Net cash used in investing activities (278,095) (402,451) (292,001)
CASH FLOWS FROM FINANCING ACTIVITIES:      
Dividends paid to Class A common stockholders (60,644) 0 0
Payments Related to Tax Withholding for Share-based Compensation, RSUs 1,232 0 0
Payments Related to Tax Withholding for Share-based Compensation, Options 0 0 (290)
Proceeds from borrowings 0 976,000 189,000
Repayments of Long-term Debt, Long-term Capital Lease Obligations, and Capital Securities 6,333 854,991 10,000
Proceeds from Issuance Initial Public Offering 0 572,432 0
Payments of Debt Issuance Costs 0 8,968 1,005
Proceeds from (Payments for) Deposits Applied to Debt Retirements (996) 598 0
Settlement of unit option loans (314) 0 0
Payments for Repurchase of Stock Options 0 0 (15,148)
Dividends paid to Class A common stockholders (2,835) (503) 0
Distributions paid to non-controlling interest/members (11,615) (185,265) (28,100)
Net cash (used in) provided by financing activities (83,341) 499,303 134,457
NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS (183,106) 241,953 8,521
CASH AND CASH EQUIVALENTS—Beginning of year 264,666 22,713 14,192
CASH AND CASH EQUIVALENTS—End of year 81,560 264,666 22,713
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION:      
Cash paid for interest, net of amounts capitalized 24,841 23,494 8,415
SUPPLEMENTAL DISCLOSURES OF NON-CASH INVESTING AND FINANCING INFORMATION:      
Increase (decrease) in liabilities incurred to acquire property and equipment 8,807 (53,455) 51,413
(Settlement of) liability incurred upon acquisition of capital lease asset (1,976) 0 4,000
Settlement of Liabilities Incurred to Acquire Capital Assets 2,543 0 0
Dividends payable on unvested restricted stock units 126 0 0
Distributions used for payment of unit option loans and related interest 2 173 10
Decrease in noncontrolling interest as a result of exchanges for Class A common stock (53,403) 0 0
Recognition of liabilities under tax receivable agreement 52,535 0 0
Increase in deferred tax asset as a result of exchanges for Class A common stock 29,512 0 0
Distributions declared but not paid 0 152 757
Noncash Net Settlement of Stock Options 0 0 744
Forgiveness of Note Receivable in Exchange for Capital Lease Asset $ 0 $ 0 $ 2,100