March 31, 

December 31, 

2020

2019

Assets

Current assets:

Cash and cash equivalents

$

13.8

$

26.1

Restricted cash

0.5

7.7

Accounts receivable - trade, unbilled and other

32.3

30.0

Accounts receivable - related party

31.4

34.0

Current portion of derivative instruments asset

 —

0.7

Inventory

15.8

18.6

Insurance Receivable

6.1

13.5

Prepayments and other current assets

7.2

5.5

Total current assets

107.1

136.1

Property, plant, and equipment, net

491.4

503.1

Equity investments in unconsolidated affiliates

103.7

96.6

Power purchase agreements and intangible assets, net

137.5

144.3

Goodwill

21.4

21.4

Deferred income taxes

9.3

9.9

Other assets

1.4

2.9

Total assets

$

871.8

$

914.3

Liabilities

Current liabilities:

Accounts payable

$

3.7

$

7.8

Related party payables

31.9

29.8

Accrued interest

2.4

0.4

Other accrued liabilities

10.7

15.4

Current portion of long-term debt

78.5

76.4

Current portion of derivative instruments liability

12.4

8.8

Other current liabilities

0.8

0.8

Total current liabilities

140.4

139.4

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

436.3

473.5

Derivative instruments liability

16.5

15.9

Deferred income taxes

24.3

23.9

Power purchase and fuel supply agreement liabilities, net

18.5

19.8

Other long-term liabilities

52.2

54.2

Total liabilities

688.2

726.7

Commitments and contingencies

Equity

Partners' capital

1,160.2

1,159.6

Accumulated other comprehensive loss

(149.1)

(139.1)

Retained deficit

(996.3)

(1,015.6)

Total APLP Holdings Limited Partnership equity

14.8

4.9

Preferred shares issued by a subsidiary company

168.8

182.7

Total equity

183.6

187.6

Total liabilities and equity

$

871.8

$

914.3

Three Months Ended March 31, 

2020

2019

Project revenue:

Energy sales

$

40.7

$

37.0

Energy capacity revenue

28.0

30.2

Other 

4.1

5.8

72.8

73.0

Project expenses:

Fuel

19.6

20.0

Operations and maintenance

20.0

16.2

Depreciation and amortization

15.6

16.1

55.2

52.3

Project other income (expense):

Change in fair value of derivative instruments

(5.6)

(2.4)

Equity in earnings of unconsolidated affiliates

13.7

12.9

Interest expense, net

(0.3)

(0.3)

7.8

10.2

Project income

25.4

30.9

Administrative and other expenses:

Administration

1.2

1.4

Interest expense, net

9.1

9.1

Foreign exchange (gain) loss

(13.1)

3.2

Other expense

3.8

3.5

1.0

17.2

Income before income taxes

24.4

13.7

Income tax expense

1.5

0.7

Net income

22.9

13.0

Net loss attributable to preferred shares of a subsidiary company

(5.8)

(6.5)

Net income attributable to APLP Holdings Limited Partnership

$

$

Three Months Ended March 31, 

2020

2019

Cash flows from operating activities:

Net income

$

22.9

$

13.0

Adjustments to reconcile net income to net cash provided by operating activities:

Depreciation and amortization

15.6

16.1

Gain on purchase and cancellation of convertible debentures

 —

0.6

Stock-based compensation expense

0.3

 —

Distributions from unconsolidated affiliates

6.0

5.8

Equity in earnings from unconsolidated affiliates

(13.7)

(12.9)

Unrealized foreign exchange (gain) loss

(13.1)

3.2

Change in fair value of derivative instruments

5.6

2.4

Change in deferred income taxes

0.3

(0.6)

Amortization of debt discount and deferred financing costs

1.7

1.5

Non-cash lease expense

0.2

0.1

Change in other operating balances

Accounts receivable

0.4

5.0

Inventory

2.8

2.7

Prepayments and other assets

(0.3)

(0.3)

Accounts payable

(2.1)

6.0

Accruals and other liabilities

(2.4)

(1.2)

Cash flows provided by operating activities

24.2

41.4

Cash flows (used in) provided by investing activities:

Proceeds from asset sales

 —

1.5

Insurance proceeds

 —

Purchase of property, plant and equipment

(9.9)

(0.3)

Cash flows (used in) provided by investing activities

(2.5)

1.2

Cash flows used in financing activities:

Dividends paid to Parent

(9.3)

(14.1)

Deferred financing costs

(1.5)

 —

Dividends paid on preferred shares of a subsidiary company

(1.7)

(1.8)

Repurchase of preferred shares of a subsidiary company

(6.4)

(7.7)

Cash payments for vested LTIP units withheld for taxes

(0.7)

 —

Repayment of corporate and project-level debt

(21.6)

(15.8)

Cash flows used in financing activities

(41.2)

(39.4)

Net (decrease) increase in cash, restricted cash and cash equivalents

(19.5)

3.2

Cash, restricted cash and cash equivalents at beginning of period

33.8

24.5

Cash, restricted cash and cash equivalents at end of period

$

14.3

$

27.7

Supplemental cash flow information

Interest paid

$

5.6

$

5.6

Income taxes paid, net

$

0.7

$

0.8

Accruals for construction in progress

$

0.3

$

 —