Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Cash Flows (Unaudited)

v3.4.0.3
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2016
Mar. 31, 2015
Operating activities:    
Net loss $ (77,803) $ (52,520)
Adjustments to reconcile net loss to net cash used in operating activities:    
Noncash losses 1,321  
Depreciation and amortization, net of amortization of deferred grants 21,596 15,429
Bad debt expense 336 457
Interest on lease pass-through financing 3,002 3,474
Noncash interest expense 3,502 2,635
Stock-based compensation expense 3,809 3,220
Reduction in lease pass-through financing obligations (4,236) (4,887)
Changes in operating assets and liabilities:    
Accounts receivable 3,595 (5,535)
Inventories (23,314) (11,537)
Prepaid and other assets (4,355) 5,069
Accounts payable (10,103) 26,932
Accrued expenses and other liabilities (317) 2,643
Deferred revenue 5,572 12,304
Net cash used in operating activities (77,395) (2,316)
Investing activities:    
Payments for the costs of solar energy systems, leased and to be leased (164,629) (131,291)
Purchases of property and equipment (5,023) (1,947)
Net cash used in investing activities (169,652) (133,238)
Financing activities:    
Proceeds from grants and state tax credits, net of recapture 9,202 5,153
Proceeds from recourse debt 141,000  
Repayment of recourse debt (147,000)  
Proceeds from issuance of non-recourse debt 106,400  
Repayment of non-recourse debt (2,160) (690)
Payment of debt fees (9,369)  
Proceeds from lease pass-through financing obligations 9,746 35,130
Contributions received from noncontrolling interests and redeemable noncontrolling interests 154,944 59,341
Distributions paid to noncontrolling interests and redeemable noncontrolling interests (9,986) (7,521)
Proceeds from exercises of stock options, net of withholding taxes on restricted stock units 452 1,058
Offering costs paid related to initial public offering (437)  
Payment of capital lease obligation (3,115) (602)
Change in restricted cash 1,819 (2,996)
Net cash provided by financing activities 251,496 88,873
Net increase (decrease) in cash 4,449 (46,681)
Cash, beginning of period 203,864 152,154
Cash, end of period 208,313 105,473
Supplemental disclosures of cash flow information    
Cash paid for interest 4,681 991
Supplemental disclosures of noncash investing and financing activities    
Costs of solar energy systems and property and equipment included in accounts payable and accrued expenses 15,769 19,165
Distributions payable to noncontrolling interests and redeemable noncontrolling interests 7,368 5,937
Vehicles acquired under capital leases $ 7,318 $ 2,281