2018 Q4 Form 10-K Financial Statement

#000156768319000014 Filed on February 28, 2019

View on sec.gov

Income Statement

Concept 2018 Q4 2018 2017 Q4
Revenue $229.0M $1.053B $231.0M
YoY Change -0.87% 4.36% -1.7%
Cost Of Revenue $85.00M $327.0M $85.00M
YoY Change 0.0% 0.31% 21.43%
Gross Profit $144.0M $726.0M $146.0M
YoY Change -1.37% 6.3% -17.05%
Gross Profit Margin 62.88% 68.95% 63.2%
Selling, General & Admin $3.000M $20.00M $5.000M
YoY Change -40.0% 5.26% -16.67%
% of Gross Profit 2.08% 2.75% 3.42%
Research & Development $2.000M $3.000M
YoY Change
% of Gross Profit 1.39% 0.41%
Depreciation & Amortization $102.0M $336.0M $106.0M
YoY Change -3.77% 0.6% 8.16%
% of Gross Profit 70.83% 46.28% 72.6%
Operating Expenses $89.00M $354.0M $93.00M
YoY Change -4.3% 8.59% 9.41%
Operating Profit $54.00M $347.0M $20.00M
YoY Change 170.0% 22.61% -120.0%
Interest Expense -$97.00M $306.0M -$59.00M
YoY Change 64.41% -0.33% 31.11%
% of Operating Profit -179.63% 88.18% -295.0%
Other Income/Expense, Net $4.000M -$231.0M $1.000M
YoY Change 300.0% -1.7%
Pretax Income -$46.00M $116.0M -$39.00M
YoY Change 17.95% 141.67% -72.14%
Income Tax $45.00M $62.00M -$81.00M
% Of Pretax Income 53.45%
Net Earnings -$91.00M $48.00M -$97.00M
YoY Change -6.19% -400.0% -15.65%
Net Earnings / Revenue -39.74% 4.56% -41.99%
Basic Earnings Per Share -$0.63 -$0.71
Diluted Earnings Per Share -$629.6K $500.0K -$666.7K
COMMON SHARES
Basic Shares Outstanding
Diluted Shares Outstanding

Balance Sheet

Concept 2018 Q4 2018 2017 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $407.0M $407.0M $148.0M
YoY Change 175.0% 175.0% -54.04%
Cash & Equivalents $407.0M $407.0M $148.0M
Short-Term Investments
Other Short-Term Assets $205.0M $205.0M $187.0M
YoY Change 9.63% 9.63% -5.56%
Inventory $40.00M $40.00M $39.00M
Prepaid Expenses
Receivables $104.0M $104.0M $95.00M
Other Receivables $0.00 $0.00 $13.00M
Total Short-Term Assets $756.0M $756.0M $482.0M
YoY Change 56.85% 56.85% -28.06%
LONG-TERM ASSETS
Property, Plant & Equipment $5.245B $5.245B $5.410B
YoY Change -3.05% -3.05% -2.59%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $1.172B $1.172B $1.178B
YoY Change -0.51% -0.51% 2.26%
Other Assets $106.0M $171.0M $62.00M
YoY Change 70.97% -10.47% -7.46%
Total Long-Term Assets $7.744B $7.744B $8.007B
YoY Change -3.28% -3.28% -3.44%
TOTAL ASSETS
Total Short-Term Assets $756.0M $756.0M $482.0M
Total Long-Term Assets $7.744B $7.744B $8.007B
Total Assets $8.500B $8.500B $8.489B
YoY Change 0.13% 0.13% -5.28%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $45.00M $64.00M $46.00M
YoY Change -2.17% -32.63% 100.0%
Accrued Expenses $101.0M $101.0M $88.00M
YoY Change 14.77% 14.77% 2.33%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $535.0M $535.0M $339.0M
YoY Change 57.82% 57.82% 4.95%
Total Short-Term Liabilities $704.0M $704.0M $540.0M
YoY Change 30.37% 30.37% 6.93%
LONG-TERM LIABILITIES
Long-Term Debt $5.447B $5.447B $5.659B
YoY Change -3.75% -3.75% -1.17%
Other Long-Term Liabilities $108.0M $125.0M $100.0M
YoY Change 8.0% -4.58% 29.87%
Total Long-Term Liabilities $5.572B $5.572B $5.790B
YoY Change -3.77% -3.77% -1.16%
TOTAL LIABILITIES
Total Short-Term Liabilities $704.0M $704.0M $540.0M
Total Long-Term Liabilities $5.572B $5.572B $5.790B
Total Liabilities $6.276B $6.678B $6.330B
YoY Change -0.85% -0.95% -0.52%
SHAREHOLDERS EQUITY
Retained Earnings -$58.00M -$69.00M
YoY Change -15.94% 3350.0%
Common Stock $1.000M $1.000M
YoY Change 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.822B $1.822B $1.747B
YoY Change
Total Liabilities & Shareholders Equity $8.500B $8.500B $8.489B
YoY Change 0.13% 0.13% -5.28%

Cashflow Statement

Concept 2018 Q4 2018 2017 Q4
OPERATING ACTIVITIES
Net Income -$91.00M $48.00M -$97.00M
YoY Change -6.19% -400.0% -15.65%
Depreciation, Depletion And Amortization $102.0M $336.0M $106.0M
YoY Change -3.77% 0.6% 8.16%
Cash From Operating Activities $102.0M $498.0M $144.0M
YoY Change -29.17% -3.68% 7.46%
INVESTING ACTIVITIES
Capital Expenditures -$21.00M $83.00M -$88.00M
YoY Change -76.14% -56.32% 2100.0%
Acquisitions $11.00M
YoY Change
Other Investing Activities $11.00M -$11.00M -$71.00M
YoY Change -115.49% 57.14% -987.5%
Cash From Investing Activities -$10.00M -$185.0M -$159.0M
YoY Change -93.71% -58.14% -4075.0%
FINANCING ACTIVITIES
Cash Dividend Paid $238.0M
YoY Change 17.82%
Common Stock Issuance & Retirement, Net $153.0M
YoY Change 350.0%
Debt Paid & Issued, Net $810.0M
YoY Change 143.98%
Cash From Financing Activities 102.0M -$46.00M 8.000M
YoY Change 1175.0% -82.1% -20.0%
NET CHANGE
Cash From Operating Activities 102.0M $498.0M 144.0M
Cash From Investing Activities -10.00M -$185.0M -159.0M
Cash From Financing Activities 102.0M -$46.00M 8.000M
Net Change In Cash 194.0M $267.0M -7.000M
YoY Change -2871.43% -246.7% -104.73%
FREE CASH FLOW
Cash From Operating Activities $102.0M $498.0M $144.0M
Capital Expenditures -$21.00M $83.00M -$88.00M
Free Cash Flow $123.0M $415.0M $232.0M
YoY Change -46.98% 26.91% 68.12%

Facts In Submission

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71000000 USD
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30000000 USD
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540000000 USD
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534000000 USD
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389000000 USD
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646000000 USD
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447000000 USD
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406000000 USD
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MinorityInterestDecreaseFromRedemptions
250000000 USD
CY2018 us-gaap Minority Interest Decrease From Redemptions
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CY2017 us-gaap Net Cash Provided By Used In Financing Activities
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CY2018 us-gaap Net Cash Provided By Used In Financing Activities
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CY2016 us-gaap Net Cash Provided By Used In Investing Activities
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-131000000 USD
CY2017 us-gaap Net Cash Provided By Used In Investing Activities
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-442000000 USD
CY2018 us-gaap Net Cash Provided By Used In Investing Activities
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-185000000 USD
CY2016 us-gaap Net Cash Provided By Used In Operating Activities
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577000000 USD
CY2017 us-gaap Net Cash Provided By Used In Operating Activities
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517000000 USD
CY2018 us-gaap Net Cash Provided By Used In Operating Activities
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498000000 USD
CY2016 us-gaap Net Income Loss Attributable To Noncontrolling Interest
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-51000000 USD
CY2017 us-gaap Net Income Loss Attributable To Noncontrolling Interest
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-15000000 USD
CY2018 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
2000000 USD
CY2016 us-gaap Net Income Loss Available To Common Stockholders Basic
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57000000 USD
CY2017Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
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-3000000 USD
CY2017Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
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CY2017Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
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CY2017Q4 us-gaap Net Income Loss Available To Common Stockholders Basic
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CY2017 us-gaap Net Income Loss Available To Common Stockholders Basic
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CY2018Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
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CY2018Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
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CY2018Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
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21000000 USD
CY2018Q4 us-gaap Net Income Loss Available To Common Stockholders Basic
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CY2018 us-gaap Net Income Loss Available To Common Stockholders Basic
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48000000 USD
CY2018Q4 us-gaap Non Recourse Debt
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CY2016 us-gaap Noncontrolling Interest Increase From Sale Of Parent Equity Interest
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CY2017 us-gaap Noncontrolling Interest Increase From Sale Of Parent Equity Interest
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CY2017 us-gaap Nonoperating Income Expense
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-235000000 USD
CY2018 us-gaap Nonoperating Income Expense
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CY2017Q4 us-gaap Notes And Loans Receivable Net Current
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CY2018Q4 us-gaap Notes And Loans Receivable Net Current
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CY2017Q3 us-gaap Operating Income Loss
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CY2017Q4 us-gaap Operating Income Loss
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CY2017 us-gaap Operating Income Loss
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CY2018Q1 us-gaap Operating Income Loss
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CY2018 us-gaap Operating Income Loss
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CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due In Four Years
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CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due In Three Years
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CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due In Two Years
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13000000 USD
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due Thereafter
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CY2017 us-gaap Operating Leases Income Statement Contingent Revenue
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CY2018 us-gaap Operating Leases Income Statement Contingent Revenue
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CY2018 us-gaap Payments Of Capital Distribution
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CY2018 us-gaap Operating Leases Income Statement Lease Revenue
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CY2018Q4 us-gaap Other Accrued Liabilities Current
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CY2017Q4 us-gaap Other Assets
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CY2018Q4 us-gaap Other Assets
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CY2017Q4 us-gaap Other Assets Noncurrent
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CY2018Q4 us-gaap Other Assets Noncurrent
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CY2017 us-gaap Other Comprehensive Income Loss Derivatives Qualifying As Hedges Net Of Tax
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CY2018 us-gaap Other Comprehensive Income Loss Derivatives Qualifying As Hedges Net Of Tax
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CY2016 us-gaap Other Comprehensive Income Loss Derivatives Qualifying As Hedges Tax
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CY2017 us-gaap Other Comprehensive Income Loss Derivatives Qualifying As Hedges Tax
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CY2018 us-gaap Other Comprehensive Income Loss Derivatives Qualifying As Hedges Tax
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CY2016 us-gaap Other Comprehensive Income Loss Net Of Tax
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13000000 USD
CY2017 us-gaap Other Comprehensive Income Loss Net Of Tax
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10000000 USD
CY2018 us-gaap Other Comprehensive Income Loss Net Of Tax
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22000000 USD
CY2016 us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Net Of Tax
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13000000 USD
CY2017 us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Net Of Tax
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10000000 USD
CY2018 us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Net Of Tax
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22000000 USD
CY2017Q4 us-gaap Other Liabilities Noncurrent
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100000000 USD
CY2018Q4 us-gaap Other Liabilities Noncurrent
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108000000 USD
CY2016 us-gaap Other Nonoperating Income Expense
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CY2017 us-gaap Other Nonoperating Income Expense
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4000000 USD
CY2018 us-gaap Other Nonoperating Income Expense
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8000000 USD
CY2016 us-gaap Payments For Proceeds From Other Investing Activities
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CY2017 us-gaap Payments For Proceeds From Other Investing Activities
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CY2016 us-gaap Payments Of Debt Issuance Costs
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15000000 USD
CY2017 us-gaap Payments Of Debt Issuance Costs
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12000000 USD
CY2018 us-gaap Payments Of Debt Issuance Costs
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CY2016 us-gaap Payments Of Dividends
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CY2017 us-gaap Payments Of Dividends
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CY2018 us-gaap Payments Of Dividends
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238000000 USD
CY2016 us-gaap Payments To Acquire Businesses And Interest In Affiliates
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83000000 USD
CY2017 us-gaap Payments To Acquire Businesses And Interest In Affiliates
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73000000 USD
CY2018 us-gaap Payments To Acquire Businesses And Interest In Affiliates
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34000000 USD
CY2016 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
0 USD
CY2017 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
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0 USD
CY2018 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
11000000 USD
CY2016 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
20000000 USD
CY2017 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
190000000 USD
CY2018 us-gaap Payments To Acquire Property Plant And Equipment
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83000000 USD
CY2018Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2018Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
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0.01
CY2018Q4 us-gaap Preferred Stock Shares Authorized
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10000000 shares
CY2018Q4 us-gaap Preferred Stock Shares Issued
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0 shares
CY2017Q4 us-gaap Preferred Stock Value
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0 USD
CY2018Q4 us-gaap Preferred Stock Value
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0 USD
CY2017Q4 us-gaap Prepaid Expense And Other Assets Current
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19000000 USD
CY2018Q4 us-gaap Prepaid Expense And Other Assets Current
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29000000 USD
CY2016 us-gaap Proceeds From Equity Method Investment Dividends Or Distributions Return Of Capital
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28000000 USD
CY2017 us-gaap Proceeds From Equity Method Investment Dividends Or Distributions Return Of Capital
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47000000 USD
CY2018 us-gaap Proceeds From Equity Method Investment Dividends Or Distributions Return Of Capital
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45000000 USD
CY2016 us-gaap Proceeds From Issuance Of Common Stock
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0 USD
CY2017 us-gaap Proceeds From Issuance Of Common Stock
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34000000 USD
CY2018 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
153000000 USD
CY2016 us-gaap Proceeds From Issuance Of Long Term Debt
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740000000 USD
CY2017 us-gaap Proceeds From Issuance Of Long Term Debt
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210000000 USD
CY2018 us-gaap Proceeds From Issuance Of Long Term Debt
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827000000 USD
CY2018Q3 us-gaap Proceeds From Issuance Or Sale Of Equity
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75000000 USD
CY2016 us-gaap Proceeds From Lines Of Credit
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60000000 USD
CY2017 us-gaap Proceeds From Lines Of Credit
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55000000 USD
CY2018 us-gaap Proceeds From Lines Of Credit
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35000000 USD
CY2016 us-gaap Proceeds From Minority Shareholders
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5000000 USD
CY2017 us-gaap Proceeds From Minority Shareholders
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13000000 USD
CY2018 us-gaap Proceeds From Minority Shareholders
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91000000 USD
CY2016 us-gaap Profit Loss
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2000000 USD
CY2017Q1 us-gaap Profit Loss
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CY2017Q2 us-gaap Profit Loss
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CY2017Q3 us-gaap Profit Loss
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31000000 USD
CY2017Q4 us-gaap Profit Loss
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CY2017 us-gaap Profit Loss
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-24000000 USD
CY2018Q1 us-gaap Profit Loss
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CY2018Q2 us-gaap Profit Loss
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96000000 USD
CY2018Q3 us-gaap Profit Loss
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49000000 USD
CY2018Q4 us-gaap Profit Loss
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CY2018 us-gaap Profit Loss
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54000000 USD
CY2017Q4 us-gaap Property Plant And Equipment Gross
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CY2018Q4 us-gaap Property Plant And Equipment Gross
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6835000000 USD
CY2017Q4 us-gaap Property Plant And Equipment Net
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5410000000 USD
CY2018Q4 us-gaap Property Plant And Equipment Net
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5245000000 USD
CY2018Q4 us-gaap Purchase Obligation
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36000000 USD
CY2018Q4 us-gaap Purchase Obligation Due In Next Twelve Months
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11000000 USD
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366000000 USD
CY2017 us-gaap Repayments Of Lines Of Credit
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0 USD
CY2018 us-gaap Repayments Of Lines Of Credit
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90000000 USD
CY2016 us-gaap Repayments Of Long Term Debt
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269000000 USD
CY2017 us-gaap Repayments Of Long Term Debt
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332000000 USD
CY2018 us-gaap Repayments Of Long Term Debt
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810000000 USD
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176000000 USD
CY2017Q4 us-gaap Restricted Cash And Cash Equivalents
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168000000 USD
CY2018Q4 us-gaap Restricted Cash And Cash Equivalents
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176000000 USD
CY2017Q4 us-gaap Retained Earnings Accumulated Deficit
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-69000000 USD
CY2018Q4 us-gaap Retained Earnings Accumulated Deficit
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-58000000 USD
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57000000 USD
CY2018Q4 us-gaap Retained Earnings Undistributed Earnings From Equity Method Investees
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87000000 USD
CY2018 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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245000000 USD
CY2016 us-gaap Revenues
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CY2017Q1 us-gaap Revenues
Revenues
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CY2017Q2 us-gaap Revenues
Revenues
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CY2017Q3 us-gaap Revenues
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269000000 USD
CY2017Q4 us-gaap Revenues
Revenues
231000000 USD
CY2017 us-gaap Revenues
Revenues
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CY2018Q1 us-gaap Revenues
Revenues
225000000 USD
CY2018Q2 us-gaap Revenues
Revenues
307000000 USD
CY2018Q3 us-gaap Revenues
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292000000 USD
CY2018Q4 us-gaap Revenues
Revenues
229000000 USD
CY2018 us-gaap Revenues
Revenues
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CY2018Q3 us-gaap Sale Of Stock Number Of Shares Issued In Transaction
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3916449 shares
CY2018Q3 us-gaap Sale Of Stock Number Of Shares Issued In Transaction
SaleOfStockNumberOfSharesIssuedInTransaction
3916449 shares
CY2018 us-gaap Sale Of Stock Number Of Shares Issued In Transaction
SaleOfStockNumberOfSharesIssuedInTransaction
4492473 shares
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34000000 USD
CY2018 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
153000000 USD
CY2015Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
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2903000000 USD
CY2016Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
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2624000000 USD
CY2017Q4 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
CY2016 us-gaap Unrealized Gain Loss On Derivatives
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13000000 USD
CY2017 us-gaap Unrealized Gain Loss On Derivatives
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10000000 USD
CY2018 us-gaap Unrealized Gain Loss On Derivatives
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22000000 USD
CY2018Q4 us-gaap Unrecognized Tax Benefits
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0 USD
CY2018Q4 us-gaap Unrecorded Unconditional Purchase Obligation Balance On Fifth Anniversary
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3000000 USD
CY2018Q4 us-gaap Unrecorded Unconditional Purchase Obligation Balance On Fourth Anniversary
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3000000 USD
CY2018Q4 us-gaap Unrecorded Unconditional Purchase Obligation Balance On Second Anniversary
UnrecordedUnconditionalPurchaseObligationBalanceOnSecondAnniversary
3000000 USD
CY2018Q4 us-gaap Unrecorded Unconditional Purchase Obligation Balance On Third Anniversary
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3000000 USD
CY2018Q4 us-gaap Unrecorded Unconditional Purchase Obligation Due After Five Years
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13000000 USD
CY2016 us-gaap Utilities Operating Expense Purchased Power Under Long Term Contracts
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32000000 USD
CY2017 us-gaap Utilities Operating Expense Purchased Power Under Long Term Contracts
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34000000 USD
CY2018 us-gaap Utilities Operating Expense Purchased Power Under Long Term Contracts
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39000000 USD
CY2016 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
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0 USD
CY2017 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
0 USD
CY2018 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
-20000000 USD
CY2015Q4 us-gaap Valuation Allowances And Reserves Balance
ValuationAllowancesAndReservesBalance
0 USD
CY2016Q4 us-gaap Valuation Allowances And Reserves Balance
ValuationAllowancesAndReservesBalance
16000000 USD
CY2017Q4 us-gaap Valuation Allowances And Reserves Balance
ValuationAllowancesAndReservesBalance
10000000 USD
CY2018Q4 us-gaap Valuation Allowances And Reserves Balance
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15000000 USD
CY2016 us-gaap Valuation Allowances And Reserves Charged To Cost And Expense
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0 USD
CY2017 us-gaap Valuation Allowances And Reserves Charged To Cost And Expense
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-6000000 USD
CY2018 us-gaap Valuation Allowances And Reserves Charged To Cost And Expense
ValuationAllowancesAndReservesChargedToCostAndExpense
5000000 USD
CY2016 us-gaap Valuation Allowances And Reserves Charged To Other Accounts
ValuationAllowancesAndReservesChargedToOtherAccounts
16000000 USD
CY2017 us-gaap Valuation Allowances And Reserves Charged To Other Accounts
ValuationAllowancesAndReservesChargedToOtherAccounts
0 USD
CY2018 us-gaap Valuation Allowances And Reserves Charged To Other Accounts
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0 USD
CY2018 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-bottom:12px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Concentrations of Credit Risk</font></div><div style="line-height:120%;padding-bottom:12px;text-align:justify;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Financial instruments which potentially subject the Company to concentrations of credit risk consist primarily of accounts receivable, notes receivable and derivative instruments, which are concentrated within entities engaged in the energy and financial industry. These industry concentrations may impact the overall exposure to credit risk, either positively or negatively, in that the customers may be similarly affected by changes in economic, industry or other conditions. In addition, many of the Company's projects have only one customer. See Item 1A, Risk Factors, </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">Risks related to the PG&amp;E Bankruptcy </font><font style="font-family:inherit;font-size:10pt;">for a discussion on the Company&#8217;s dependence on major customers</font><font style="font-family:inherit;font-size:10pt;color:#1f497d;">.</font><font style="font-family:inherit;font-size:10pt;"> See </font><font style="font-family:inherit;font-size:10pt;">Note 6</font><font style="font-family:inherit;font-size:10pt;">, </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">Fair Value of Financial Instruments</font><font style="font-family:inherit;font-size:10pt;font-style:italic;"> </font><font style="font-family:inherit;font-size:10pt;">for a further discussion of derivative concentrations and </font><font style="font-family:inherit;font-size:10pt;">Note 13</font><font style="font-family:inherit;font-size:10pt;">, </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">Segment Reporting</font><font style="font-family:inherit;font-size:10pt;">, for concentration of counterparties.</font></div></div>
CY2018 us-gaap Guarantees Indemnifications And Warranties Policies
GuaranteesIndemnificationsAndWarrantiesPolicies
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-bottom:12px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Guarantees</font></div><div style="line-height:120%;padding-bottom:12px;text-align:justify;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Company enters into various contracts that include indemnification and guarantee provisions as a routine part of its business activities. Examples of these contracts include operation and maintenance agreements, service agreements, commercial sales arrangements and other types of contractual agreements with vendors and other third parties, as well as affiliates. These contracts generally indemnify the counterparty for tax, environmental liability, litigation and other matters, as well as breaches of representations, warranties and covenants set forth in these agreements. Because many of the guarantees and indemnities the Company issues to third parties and affiliates do not limit the amount or duration of its obligations to perform under them, there exists a risk that the Company may have obligations in excess of the amounts agreed upon in the contracts mentioned above. For those guarantees and indemnities that do not limit the liability exposure, the Company may not be able to estimate what the liability would be, until a claim is made for payment or performance, due to the contingent nature of these contracts.</font></div></div>
CY2018 us-gaap Use Of Estimates
UseOfEstimates
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-bottom:12px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Use of Estimates</font></div><div style="line-height:120%;padding-bottom:12px;text-align:justify;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">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. They also impact the reported amounts of net earnings during the reporting periods. Actual results could be different from these estimates.</font></div><div style="line-height:120%;padding-bottom:12px;text-align:justify;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In recording transactions and balances resulting from business operations, the Company uses estimates based on the best information available. Estimates are used for such items as plant depreciable lives, tax provisions, uncollectible accounts, environmental liabilities, acquisition accounting and legal costs incurred in connection with recorded loss contingencies, among others. In addition, estimates are used to test long-lived assets for impairment and to determine the fair value of impaired assets. As better information becomes available or actual amounts are determinable, the recorded estimates are revised. Consequently, operating results can be affected by revisions to prior accounting estimates.</font></div></div>

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