2019 Q3 Form 10-Q Financial Statement

#000143774919021786 Filed on November 06, 2019

View on sec.gov

Income Statement

Concept 2019 Q3 2018 Q4 2018 Q3
Revenue $296.0M $229.0M $292.0M
YoY Change 1.37% -0.87% 8.55%
Cost Of Revenue $84.00M $85.00M $84.00M
YoY Change 0.0% 0.0% 6.33%
Gross Profit $212.0M $144.0M $208.0M
YoY Change 1.92% -1.37% 9.47%
Gross Profit Margin 71.62% 62.88% 71.23%
Selling, General & Admin $7.000M $3.000M $6.000M
YoY Change 16.67% -40.0% 50.0%
% of Gross Profit 3.3% 2.08% 2.88%
Research & Development $1.000M $2.000M $1.000M
YoY Change 0.0%
% of Gross Profit 0.47% 1.39% 0.48%
Depreciation & Amortization $114.0M $102.0M $84.00M
YoY Change 35.71% -3.77% -6.67%
% of Gross Profit 53.77% 70.83% 40.38%
Operating Expenses $120.0M $89.00M $84.00M
YoY Change 42.86% -4.3% 6.33%
Operating Profit $90.00M $54.00M $100.0M
YoY Change -10.0% 170.0% 19.05%
Interest Expense $106.0M -$97.00M $74.00M
YoY Change 43.24% 64.41% 0.0%
% of Operating Profit 117.78% -179.63% 74.0%
Other Income/Expense, Net -$66.00M $4.000M -$40.00M
YoY Change 65.0% 300.0% -11.11%
Pretax Income $24.00M -$46.00M $60.00M
YoY Change -60.0% 17.95% 53.85%
Income Tax -$11.00M $45.00M $11.00M
% Of Pretax Income -45.83% 18.33%
Net Earnings $39.00M -$91.00M $49.00M
YoY Change -20.41% -6.19% 58.06%
Net Earnings / Revenue 13.18% -39.74% 16.78%
Basic Earnings Per Share -$0.63 $0.20
Diluted Earnings Per Share $354.5K -$629.6K $201.9K
COMMON SHARES
Basic Shares Outstanding
Diluted Shares Outstanding

Balance Sheet

Concept 2019 Q3 2018 Q4 2018 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $148.0M $407.0M $232.0M
YoY Change -36.21% 175.0% 29.61%
Cash & Equivalents $148.0M $407.0M $232.0M
Short-Term Investments
Other Short-Term Assets $284.0M $205.0M $188.0M
YoY Change 51.06% 9.63% 16.05%
Inventory $43.00M $40.00M $39.00M
Prepaid Expenses
Receivables $141.0M $104.0M $141.0M
Other Receivables $3.000M $0.00 $3.000M
Total Short-Term Assets $619.0M $756.0M $603.0M
YoY Change 2.65% 56.85% 15.96%
LONG-TERM ASSETS
Property, Plant & Equipment $5.562B $5.245B $5.306B
YoY Change 4.82% -3.05% 1.12%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $1.181B $1.172B $1.182B
YoY Change -0.08% -0.51% -0.08%
Other Assets $109.0M $106.0M $92.00M
YoY Change 18.48% 70.97% 64.29%
Total Long-Term Assets $8.219B $7.744B $7.897B
YoY Change 4.08% -3.28% -0.32%
TOTAL ASSETS
Total Short-Term Assets $619.0M $756.0M $603.0M
Total Long-Term Assets $8.219B $7.744B $7.897B
Total Assets $8.838B $8.500B $8.500B
YoY Change 3.98% 0.13% 0.69%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $117.0M $45.00M $90.00M
YoY Change 30.0% -2.17% 233.33%
Accrued Expenses $149.0M $101.0M $96.00M
YoY Change 55.21% 14.77% 1.05%
Deferred Revenue
YoY Change
Short-Term Debt $1.300B $0.00 $0.00
YoY Change
Long-Term Debt Due $1.965B $535.0M $873.0M
YoY Change 125.09% 57.82% 191.0%
Total Short-Term Liabilities $2.246B $704.0M $1.085B
YoY Change 107.0% 30.37% 121.43%
LONG-TERM LIABILITIES
Long-Term Debt $4.143B $5.447B $4.928B
YoY Change -15.93% -3.75% -10.72%
Other Long-Term Liabilities $115.0M $108.0M $103.0M
YoY Change 11.65% 8.0% 18.39%
Total Long-Term Liabilities $4.546B $5.572B $5.040B
YoY Change -9.8% -3.77% -10.84%
TOTAL LIABILITIES
Total Short-Term Liabilities $2.246B $704.0M $1.085B
Total Long-Term Liabilities $4.546B $5.572B $5.040B
Total Liabilities $6.792B $6.276B $6.125B
YoY Change 10.89% -0.85% -0.29%
SHAREHOLDERS EQUITY
Retained Earnings -$66.00M -$58.00M $13.00M
YoY Change -607.69% -15.94% -45.83%
Common Stock $1.000M $1.000M $1.000M
YoY Change 0.0% 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.748B $1.822B $1.935B
YoY Change
Total Liabilities & Shareholders Equity $8.838B $8.500B $8.500B
YoY Change 3.98% 0.13% 0.69%

Cashflow Statement

Concept 2019 Q3 2018 Q4 2018 Q3
OPERATING ACTIVITIES
Net Income $39.00M -$91.00M $49.00M
YoY Change -20.41% -6.19% 58.06%
Depreciation, Depletion And Amortization $114.0M $102.0M $84.00M
YoY Change 35.71% -3.77% -6.67%
Cash From Operating Activities $224.0M $102.0M $215.0M
YoY Change 4.19% -29.17% 5.39%
INVESTING ACTIVITIES
Capital Expenditures -$104.0M -$21.00M -$17.00M
YoY Change 511.76% -76.14% -59.52%
Acquisitions
YoY Change
Other Investing Activities $15.00M $11.00M $8.000M
YoY Change 87.5% -115.49% -115.69%
Cash From Investing Activities -$89.00M -$10.00M -$9.000M
YoY Change 888.89% -93.71% -90.32%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -34.00M 102.0M -86.00M
YoY Change -60.47% 1175.0% -2.27%
NET CHANGE
Cash From Operating Activities 224.0M 102.0M 215.0M
Cash From Investing Activities -89.00M -10.00M -9.000M
Cash From Financing Activities -34.00M 102.0M -86.00M
Net Change In Cash 101.0M 194.0M 120.0M
YoY Change -15.83% -2871.43% 421.74%
FREE CASH FLOW
Cash From Operating Activities $224.0M $102.0M $215.0M
Capital Expenditures -$104.0M -$21.00M -$17.00M
Free Cash Flow $328.0M $123.0M $232.0M
YoY Change 41.38% -46.98% -5.69%

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CY2018Q4 us-gaap Operating Lease Right Of Use Asset
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CY2019Q3 us-gaap Assets
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CY2018Q4 us-gaap Assets
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CY2018Q4 us-gaap Liabilities Current
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CY2019Q3 us-gaap Long Term Debt And Capital Lease Obligations
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CY2018Q4 us-gaap Other Liabilities Noncurrent
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CY2019Q3 us-gaap Liabilities Noncurrent
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CY2018Q4 us-gaap Liabilities Noncurrent
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CY2019Q3 us-gaap Liabilities
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CY2018Q4 us-gaap Liabilities
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CY2019Q3 us-gaap Commitments And Contingencies
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CY2018Q4 us-gaap Commitments And Contingencies
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CY2019Q3 us-gaap Preferred Stock Value
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CY2018Q4 us-gaap Preferred Stock Value
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CY2018Q4 us-gaap Additional Paid In Capital
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CY2019Q3 us-gaap Minority Interest
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CY2018Q4 us-gaap Minority Interest
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CY2019Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
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CY2018Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
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2224000000 USD
CY2019Q3 us-gaap Liabilities And Stockholders Equity
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CY2018Q4 us-gaap Liabilities And Stockholders Equity
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us-gaap Profit Loss
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us-gaap Profit Loss
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us-gaap Equity Method Investment Dividends Or Distributions
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us-gaap Equity Method Investment Dividends Or Distributions
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us-gaap Depreciation Amortization And Accretion Net
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285000000 USD
us-gaap Depreciation Amortization And Accretion Net
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cwen Operating Lease Rightofuse Asset Amortization
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5000000 USD
cwen Operating Lease Rightofuse Asset Amortization
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us-gaap Amortization Of Financing Costs And Discounts
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us-gaap Amortization Of Financing Costs And Discounts
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19000000 USD
cwen Amortization Of Intangibles And Out Of Market Contracts
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52000000 USD
cwen Amortization Of Intangibles And Out Of Market Contracts
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52000000 USD
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us-gaap Asset Impairment Charges
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us-gaap Asset Impairment Charges
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us-gaap Increase Decrease In Income Taxes
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us-gaap Gain Loss On Sale Of Property Plant Equipment
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us-gaap Gain Loss On Sale Of Property Plant Equipment
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cwen Increase Decrease In Prepaid And Accrued Liabilities For Tolling Agreements
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cwen Increase Decrease In Prepaid And Accrued Liabilities For Tolling Agreements
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us-gaap Net Cash Provided By Used In Operating Activities
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us-gaap Payments To Acquire Businesses Net Of Cash Acquired
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100000000 USD
us-gaap Payments To Acquire Businesses Net Of Cash Acquired
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us-gaap Payments To Acquire Limited Partnership Interests
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us-gaap Payments To Acquire Limited Partnership Interests
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cwen Payments To Acquire Business Under Common Control
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us-gaap Payments To Acquire Additional Interest In Subsidiaries
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us-gaap Proceeds From Issuance Of Common Stock
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us-gaap Proceeds From Issuance Of Common Stock
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us-gaap Repayments Of Lines Of Credit
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CY2018Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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CY2018Q2 us-gaap Profit Loss
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CY2018Q3 us-gaap Profit Loss
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CY2018Q3 us-gaap Adjustments To Additional Paid In Capital Other
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CY2018Q3 cwen Common Stock Dividends And Distributions
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CY2018Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
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CY2019Q3 cwen Power Generation Capacity Megawatts
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CY2019Q3 us-gaap Short Term Borrowings
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us-gaap Use Of Estimates
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<p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; margin: 0pt; text-align: justify;"><i><b>Use of Estimates</b></i></p> <p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; margin: 0pt; text-align: justify;"> </p> <p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; margin: 0pt; text-align: justify; text-indent: 27pt;">The preparation of consolidated financial statements in accordance with GAAP requires management to make estimates and assumptions. These estimates and assumptions impact the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities as of the date of the consolidated financial statements, and the reported amounts of revenues and expenses during the reporting period. Actual results could be different from these estimates.</p>
CY2019Q3 us-gaap Cash And Cash Equivalents At Carrying Value
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CY2019Q3 us-gaap Restricted Cash
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CY2018Q4 us-gaap Restricted Cash
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CY2018Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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CY2019Q3 us-gaap Loans And Leases Receivable Net Reported Amount
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110000000 USD
CY2019Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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397000000 USD
CY2019Q3 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
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1830000000 USD
CY2018Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
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1590000000 USD
CY2019Q3 us-gaap Finite Lived Intangible Assets Accumulated Amortization
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361000000 USD
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CY2019Q3 us-gaap Revenues
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us-gaap Capitalized Contract Cost Amortization
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cwen Revenue Marktomarket Hedging Activities
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us-gaap Revenues
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CY2018Q3 us-gaap Revenues
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us-gaap Capitalized Contract Cost Amortization
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CY2019Q3 us-gaap Accounts Receivable Net
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CY2019Q3 cwen Accounts Receivable Reclassified To Noncurrent Assets
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CY2019Q3 cwen Percentage Of Cash Available For Distributions
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CY2019Q3 cwen Percentage Of Cash Available For Distributions
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us-gaap Equity Method Investment Summarized Financial Information Revenue
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55000000 USD
CY2019Q3 cwen Equity Method Investment Summarized Financial Information Operating Income Loss Total
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14000000 USD
CY2018Q3 cwen Equity Method Investment Summarized Financial Information Operating Income Loss Total
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P24Y
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