March 31,

December 31,

2017

2016

Assets

Current assets:

Cash and cash equivalents

$

25.9

$

26.0

Restricted cash

5.6

9.3

Accounts receivable - trade, unbilled and other

35.6

34.8

Accounts receivable - related party

37.7

40.2

Current portion of derivative instruments asset

3.7

4.1

Inventory

14.8

14.5

Prepayments and other current assets

10.4

6.3

Total current assets

133.7

135.2

Property, plant, and equipment, net

599.4

613.7

Equity investment in unconsolidated affiliates

272.2

266.8

Power purchase agreements and intangible assets, net

236.6

246.2

Goodwill

36.1

36.1

Derivative instruments asset

4.1

4.6

Other assets

4.2

5.2

Total assets

$

1,286.3

$

1,307.8

Liabilities

Current liabilities:

Accounts payable

$

2.9

$

3.7

Related party payables

25.7

26.3

Accrued interest

2.6

0.3

Other accrued liabilities

17.1

17.5

Current portion of long-term debt

114.4

109.4

Current portion of derivative instruments liability

4.5

6.0

Other current liabilities

9.7

1.8

Total current liabilities

176.9

165.0

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

668.2

697.0

Derivative instruments liability

17.2

14.8

Deferred income taxes

68.0

69.2

Power purchase and fuel supply agreement liabilities, net

24.9

25.3

Other long-term liabilities

51.9

51.6

Total liabilities

1,007.1

1,022.9

Commitments and contingencies

Equity

Partners’ capital

1,209.7

1,202.0

Accumulated other comprehensive loss

(144.5

)

(146.5

)

Retained deficit

(1,007.3

)

(991.9

)

Total APLP Holdings Limited Partnership equity

57.9

63.6

Preferred shares issued by a subsidiary company

221.3

221.3

Total equity

279.2

284.9

Total liabilities and equity

$

1,286.3

$

1,307.8

Three months ended
March 31,

2017

2016

Project revenue:

Energy sales

$

34.2

$

49.6

Energy capacity revenue

16.2

28.6

Other

41.8

22.0

92.2

100.2

Project expenses:

Fuel

25.9

35.5

Operations and maintenance

18.2

18.6

Depreciation and amortization

27.7

22.9

71.8

77.0

Project other income (expense):

Change in fair value of derivative instruments

(1.6

)

1.1

Equity in earnings of unconsolidated affiliates

9.1

10.7

Interest expense, net

(0.6

)

(0.7

)

Other expense

—

(0.2

)

6.9

10.9

Project income

27.3

34.1

Administrative and other expenses:

Administration

4.1

0.3

Interest, net

14.9

20.5

Foreign exchange loss

1.9

9.0

Other expense

0.8

—

21.7

29.8

Income before income taxes

5.6

4.3

Income tax (benefit) expense

(0.3

)

1.6

Net income

5.9

2.7

Net income attributable to preferred shares of a subsidiary company

2.1

2.0

Net income attributable to APLP Holdings Limited Partnership

$

3.8

$

0.7

March 31,

2017

2016

Cash provided by operating activities:

Net income

$

5.9

$

2.7

Adjustments to reconcile to net cash provided by operating activities:

Depreciation and amortization

27.7

22.9

Loss on sale of assets

—

0.2

Stock-based compensation expense

0.4

0.5

Distributions from unconsolidated affiliates

3.7

4.3

Equity in earnings from unconsolidated affiliate

(9.1

)

(10.7

)

Unrealized foreign exchange loss

1.7

9.0

Change in fair value of derivative instruments

1.6

(1.1

)

Change in deferred income taxes

(1.2

)

—

Change in other operating balances

Accounts receivable

1.6

(8.6

)

Inventory

(0.3

)

2.8

Prepayments, supplies and other assets

(1.1

)

(2.8

)

Accounts payable

(2.8

)

6.3

Accruals and other liabilities

10.6

(0.5

)

Cash provided by operating activities

38.7

25.0

Cash provided by investing activities:

Change in restricted cash

3.7

5.9

Reimbursement of costs for third party construction project

—

4.7

Purchase of property, plant and equipment

(1.9

)

(0.7

)

Cash provided by investing activities

1.8

9.9

Cash used in financing activities:

Dividends paid to Parent

(11.1

)

(18.4

)

Dividends paid on preferred shares of a subsidiary company

(2.1

)

(2.0

)

Repayment of debt

(27.4

)

(27.5

)

Cash used in financing activities

(40.6

)

(47.9

)

Net decrease in cash and cash equivalents

(0.1

)

(13.0

)

Cash and cash equivalents at beginning of period

26.0

60.3

Cash and cash equivalents at end of period

$

25.9

$

47.3

Supplemental cash flow information

Interest paid

$

11.6

$

7.8

Taxes paid

$

0.9

$

0.9

Accruals for construction

$

—

$

0.3