December 31,

December 31,

2016

2015

Assets

Current assets:

Cash and cash equivalents

$

26.0

$

60.3

Restricted cash

9.3

10.4

Accounts receivable - trade, unbilled and other

34.8

36.5

Accounts receivable - related party

40.2

94.1

Current portion of derivative instruments asset

4.1

—

Inventory

14.5

15.2

Prepayments and other current assets

6.3

9.3

Total current assets

135.2

225.8

Property, plant, and equipment, net

613.7

650.9

Equity investment in unconsolidated affiliates

266.8

286.2

Power purchase agreements and intangible assets, net

246.2

308.9

Goodwill

36.1

134.5

Derivative instruments asset

4.6

0.3

Other assets

5.2

8.0

Total assets

$

1,307.8

$

1,614.6

Liabilities

Current liabilities:

Accounts payable

$

3.7

$

6.0

Related party payables

26.3

101.1

Accrued interest

0.3

0.3

Other accrued liabilities

17.5

18.7

Current portion of long-term debt

109.4

13.4

Current portion of derivative instruments liability

6.0

35.1

Other current liabilities

1.8

2.5

Total current liabilities

165.0

177.1

Long-term debt, net of unamortized discount and deferred financing costs

697.0

629.5

Derivative instruments liability

14.8

12.9

Deferred income taxes

69.2

85.8

Power purchase and fuel supply agreement liabilities, net

25.3

27.0

Other long-term liabilities

51.6

280.2

Total liabilities

1,022.9

1,212.5

Commitments and contingencies

Equity

Partners’ capital

1,202.0

1,144.3

Accumulated other comprehensive loss

(146.5

)

(137.5

)

Retained deficit

(991.9

)

(826.0

)

Total APLP Holdings Limited Partnership equity

63.6

180.8

Preferred shares issued by a subsidiary company

221.3

221.3

Total equity

284.9

402.1

Total liabilities and equity

$

1,307.8

$

1,614.6

Years ended December 31,

2016

2015

Project revenue:

Energy sales

$

172.8

$

180.3

Energy capacity revenue

123.0

130.8

Other

73.1

79.4

368.9

390.5

Project expenses:

Fuel

136.8

152.8

Operations and maintenance

94.3

91.3

Depreciation and amortization

106.1

102.4

337.2

346.5

Project other income (expense):

Change in fair value of derivative instruments

36.6

17.1

Equity in earnings of unconsolidated affiliates

35.9

36.7

Interest expense, net

(2.6

)

(3.0

)

Impairment and other income (expense)

(85.5

)

(126.5

)

(15.6

)

(75.7

)

Project income (loss)

16.1

(31.7

)

Administrative and other expenses (income):

Administration

3.0

4.6

Interest, net

98.7

81.5

Foreign exchange loss (gain)

3.3

(26.8

)

Other expense (income)

15.1

(0.6

)

120.1

58.7

Loss from continuing operations before income taxes

(104.0

)

(90.4

)

Income tax benefit

(14.0

)

(29.6

)

Net loss from continuing operations

(90.0

)

(60.8

)

Net income from discontinued operations

—

19.5

Net loss

(90.0

)

(41.3

)

Net loss attributable to noncontrolling interests

—

(11.0

)

Net income attributable to preferred shares of a subsidiary company

8.5

8.8

Net loss attributable to APLP Holdings Limited Partnership

$

(98.5

)

$

(39.1

)

December 31,

2016

2015

Cash flows from operating activities:

Net loss

$

(90.0

)

$

(41.3

)

Adjustments to reconcile to net cash provided by operating activities:

Depreciation and amortization

106.1

112.9

Loss (gain) on sale of assets

0.2

(46.9

)

Stock-based compensation expense

1.9

2.4

Distributions from unconsolidated affiliates

55.3

58.5

Equity in earnings from unconsolidated affiliate

(35.9

)

(36.6

)

Unrealized foreign exchange loss (gain)

3.3

(26.8

)

Change in fair value of derivative instruments

(36.6

)

(17.1

)

Change in deferred income taxes

(16.9

)

(7.6

)

Impairment

85.9

127.9

Change in other operating balances

Accounts receivable

11.6

(15.0

)

Inventory

0.8

2.3

Prepayments, supplies and other assets

43.4

5.2

Accounts payable

(19.8

)

(17.8

)

Accruals and other liabilities

(2.8

)

(7.8

)

Cash flows provided by operating activities

106.5

92.3

Cash flows (used in) provided by investing activities:

Proceeds from asset sales

—

326.3

Contribution to equity investment

—

(0.6

)

Change in restricted cash

1.1

6.5

Capitalized development costs

—

(1.0

)

Reimbursement of costs for third party construction project

4.7

—

Purchase of property, plant and equipment

(7.2

)

(11.0

)

Cash flows (used in) provided by investing activities

(1.4

)

320.2

Cash flows used in financing activities:

Dividends paid to Parent

(250.3

)

(362.9

)

Dividends paid to noncontroling interests

—

(3.7

)

Dividends paid on preferred shares of a subsidiary company

(8.5

)

(8.8

)

Proceeds from senior secured term loan facility, net of discount

682.9

—

Repayment of corporate and project-level debt

(547.3

)

(78.4

)

Deferred financing costs

(16.2

)

—

Cash flows used in financing activities

(139.4

)

(453.8

)

Net decrease in cash and cash equivalents

(34.3

)

(41.3

)

Cash and cash equivalents at beginning of period at discountinued operations

—

3.9

Cash and cash equivalents at beginning of period

60.3

97.7

Cash and cash equivalents at end of period

$

26.0

$

60.3

Supplemental cash flow information

Interest paid

$

54.2

$

45.1

Taxes paid

$

3.5

$

10.5

Accruals for construction

$

1.2

$

0.6