$HASI
HA Sustainable Infrastructure Capital, Inc.

2013 Q4 Form 10-Q Financial Statement

#000119312513433456 Filed on November 08, 2013

View on sec.gov

Income Statement

Concept 2013 Q4 2013 Q3 2012 Q4
Revenue -$4.786M $4.796M $3.275M
YoY Change -246.14% -56.31% 18.79%
Cost Of Revenue $2.920M $2.590M
YoY Change
Gross Profit $6.210M $4.800M
YoY Change
Gross Profit Margin 100.08%
Selling, General & Admin $2.940M $2.850M $1.740M
YoY Change 68.97% -52.89% 2.96%
% of Gross Profit 47.34% 59.38%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $60.00K $60.00K $105.0K
YoY Change -42.86% -45.45% -4.55%
% of Gross Profit 0.97% 1.25%
Operating Expenses $14.00M $2.900M $1.850M
YoY Change 656.76% -52.85% 3.35%
Operating Profit -$7.790M $1.900M
YoY Change
Interest Expense $0.00 $0.00 -$480.0K
YoY Change -100.0% -100.0% -43.53%
% of Operating Profit 0.0%
Other Income/Expense, Net $3.000M $2.902M
YoY Change -38.94%
Pretax Income -$7.786M $1.894M $949.0K
YoY Change -920.44% -69.57% 762.73%
Income Tax -$251.0K $0.00
% Of Pretax Income 0.0%
Net Earnings -$7.330M $1.842M
YoY Change -70.41%
Net Earnings / Revenue 38.41%
Basic Earnings Per Share -$0.48 $0.11
Diluted Earnings Per Share -$0.48 $0.11
COMMON SHARES
Basic Shares Outstanding 15.80M shares 15.80M shares
Diluted Shares Outstanding 15.80M shares

Balance Sheet

Concept 2013 Q4 2013 Q3 2012 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $31.80M $24.20M $8.000M
YoY Change 297.5% 15.79%
Cash & Equivalents $31.85M $24.22M $8.024M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables $191.4M
Other Receivables $0.00
Total Short-Term Assets $56.60M $45.30M $199.4M
YoY Change -71.61% -79.08%
LONG-TERM ASSETS
Property, Plant & Equipment $0.00
YoY Change
Goodwill $3.798M $3.798M $3.798M
YoY Change 0.0% 0.0%
Intangibles $1.706M $1.756M $1.970M
YoY Change -13.4% -14.67%
Long-Term Investments $93.00M $6.200M
YoY Change 11717.03%
Other Assets $49.90M $38.90M $100.0K
YoY Change 49800.0% 1845.0%
Total Long-Term Assets $514.8M $475.3M $13.39M
YoY Change 3746.34% 2877.74%
TOTAL ASSETS
Total Short-Term Assets $56.60M $45.30M $199.4M
Total Long-Term Assets $514.8M $475.3M $13.39M
Total Assets $571.4M $520.6M $212.8M
YoY Change 168.55% 123.97%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $7.300M $5.700M $6.800M
YoY Change 7.35% -6.56%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $7.300M $5.700M $6.800M
YoY Change 7.35% -32.14%
LONG-TERM LIABILITIES
Long-Term Debt $337.0M $271.6M $200.1M
YoY Change 68.42% 32.55%
Other Long-Term Liabilities $74.70M $77.20M
YoY Change
Total Long-Term Liabilities $411.7M $348.8M $200.1M
YoY Change 105.75% 70.23%
TOTAL LIABILITIES
Total Short-Term Liabilities $7.300M $5.700M $6.800M
Total Long-Term Liabilities $411.7M $348.8M $200.1M
Total Liabilities $420.8M $356.6M $206.9M
YoY Change 103.35% 67.17%
SHAREHOLDERS EQUITY
Retained Earnings -$13.86M -$592.0K $5.511M
YoY Change -351.57% -107.01%
Common Stock $160.3M $160.3M
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $146.5M $159.6M $5.900M
YoY Change
Total Liabilities & Shareholders Equity $571.4M $520.6M $212.8M
YoY Change 168.55% 123.97%

Cashflow Statement

Concept 2013 Q4 2013 Q3 2012 Q4
OPERATING ACTIVITIES
Net Income -$7.330M $1.842M
YoY Change -70.41%
Depreciation, Depletion And Amortization $60.00K $60.00K $105.0K
YoY Change -42.86% -45.45% -4.55%
Cash From Operating Activities -$9.390M $2.460M -$1.447M
YoY Change 548.93% -68.13% -121.28%
INVESTING ACTIVITIES
Capital Expenditures -$70.00K $0.00 $0.00
YoY Change -100.0%
Acquisitions
YoY Change
Other Investing Activities -$31.46M -$54.02M -$8.000K
YoY Change 393150.0% -280.25% -99.69%
Cash From Investing Activities -$31.52M -$54.02M $6.030M
YoY Change -622.72% -280.25% -320.88%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 48.54M 60.97M -17.51M
YoY Change -377.26% -449.0% -1002.42%
NET CHANGE
Cash From Operating Activities -9.390M 2.460M -1.447M
Cash From Investing Activities -31.52M -54.02M 6.030M
Cash From Financing Activities 48.54M 60.97M -17.51M
Net Change In Cash 7.630M 9.410M -12.92M
YoY Change -159.04% -53.46% -315.04%
FREE CASH FLOW
Cash From Operating Activities -$9.390M $2.460M -$1.447M
Capital Expenditures -$70.00K $0.00 $0.00
Free Cash Flow -$9.320M $2.460M -$1.447M
YoY Change 544.09% -68.13% -120.82%

Facts In Submission

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dei Trading Symbol
TradingSymbol
HASI
dei Entity Registrant Name
EntityRegistrantName
Hannon Armstrong Sustainable Infrastructure Capital, Inc.
dei Amendment Flag
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dei Entity Filer Category
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dei Document Fiscal Year Focus
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dei Document Type
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dei Document Period End Date
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dei Entity Central Index Key
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us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
hasi Maximum Equity Based Awards Issuable Percentage Of Issued And Outstanding Shares As Of Grant Date
MaximumEquityBasedAwardsIssuablePercentageOfIssuedAndOutstandingSharesAsOfGrantDate
0.075 pure
hasi Real Estate Investment Trust Requirements Code Description
RealEstateInvestmentTrustRequirementsCodeDescription
To qualify as a REIT, the Company must meet a number of organizational and operational requirements, including a requirement that it currently distribute at least 90% of its net taxable income, excluding capital gains, to its shareholders.
hasi Portfolio Receivable Collections
PortfolioReceivableCollections
447000
hasi Payments Of Deferred Financing Costs
PaymentsOfDeferredFinancingCosts
8413000
hasi Number Of Operating Partnership Units Held By Noncontrolling Interest
NumberOfOperatingPartnershipUnitsHeldByNoncontrollingInterest
461180 shares
hasi Fees For Loan Agreement Description
FeesForLoanAgreementDescription
Fees for each Loan Agreement equal to 0.50%, divided by 360, multiplied by the excess of the available borrowing capacity under each Loan Agreement over the actual amount borrowed under such Loan Agreement.
hasi Default Underlying Financing
DefaultUnderlyingFinancing
0.50 pure
hasi Amortizing Government Receivables Maturity Date
AmortizingGovernmentReceivablesMaturityDate
2038-02-28
hasi Payments On Deferred Funding Obligations
PaymentsOnDeferredFundingObligations
6836000
hasi Dividend Paid On Participating Securities
DividendPaidOnParticipatingSecurities
44000
hasi Undistributed Earnings To Participating Securities
UndistributedEarningsToParticipatingSecurities
us-gaap Servicing Asset At Amortized Value Period Increase Decrease
ServicingAssetAtAmortizedValuePeriodIncreaseDecrease
-8000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
2938000
us-gaap Revenues
Revenues
14532000
us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
3651000
us-gaap Gain Loss On Securitization Of Financial Assets
GainLossOnSecuritizationOfFinancialAssets
1972000
us-gaap Profit Loss
ProfitLoss
3691000
us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
142000
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
3691000
us-gaap Payments To Acquire Marketable Securities
PaymentsToAcquireMarketableSecurities
255000
us-gaap Payments To Acquire Finance Receivables
PaymentsToAcquireFinanceReceivables
94482000
us-gaap Unrealized Gain Loss On Investments
UnrealizedGainLossOnInvestments
-40000
us-gaap Investment Income Interest
InvestmentIncomeInterest
8498000
us-gaap Increase Decrease In Accounts Receivable From Securitization
IncreaseDecreaseInAccountsReceivableFromSecuritization
-234000
us-gaap Revenue Other Financial Services
RevenueOtherFinancialServices
13065000
us-gaap Payments To Acquire Investments
PaymentsToAcquireInvestments
2920000
us-gaap Investment Income Net
InvestmentIncomeNet
1467000
us-gaap Other Income
OtherIncome
38000
us-gaap Accretion Amortization Of Discounts And Premiums Investments
AccretionAmortizationOfDiscountsAndPremiumsInvestments
-396000
us-gaap Investment Banking Advisory Brokerage And Underwriting Fees And Commissions
InvestmentBankingAdvisoryBrokerageAndUnderwritingFeesAndCommissions
11093000
us-gaap Repayments Of Other Debt
RepaymentsOfOtherDebt
45713000
us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
-485000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
65000
us-gaap Increase Decrease In Restricted Cash
IncreaseDecreaseInRestrictedCash
-196000
us-gaap Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
44000
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-1886000
us-gaap Interest Expense Other
InterestExpenseOther
204000
us-gaap Investment Income Investment Expense
InvestmentIncomeInvestmentExpense
7031000
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
3276000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
47867000
us-gaap Proceeds From Equity Method Investment Dividends Or Distributions Return Of Capital
ProceedsFromEquityMethodInvestmentDividendsOrDistributionsReturnOfCapital
14294000
us-gaap Share Based Compensation
ShareBasedCompensation
7000
us-gaap Depreciation And Amortization
DepreciationAndAmortization
326000
us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
13304000
us-gaap Servicing Asset At Amortized Value Amortization1
ServicingAssetAtAmortizedValueAmortization1
275000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-37501000
us-gaap Additions To Other Assets Amount
AdditionsToOtherAssetsAmount
us-gaap Other General Expense
OtherGeneralExpense
10841000
us-gaap Proceeds From Repayments Of Lines Of Credit
ProceedsFromRepaymentsOfLinesOfCredit
-1711000
us-gaap Proceeds From Sale And Collection Of Finance Receivables
ProceedsFromSaleAndCollectionOfFinanceReceivables
45174000
us-gaap Proceeds From Sale And Maturity Of Marketable Securities
ProceedsFromSaleAndMaturityOfMarketableSecurities
507000
us-gaap Labor And Related Expense
LaborAndRelatedExpense
6632000
us-gaap Proceeds From Other Debt
ProceedsFromOtherDebt
95291000
us-gaap Proceeds From Collection Of Advance To Affiliate
ProceedsFromCollectionOfAdvanceToAffiliate
50000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
hasi Portfolio Receivable Collections
PortfolioReceivableCollections
630000
CY2013Q2 us-gaap Proceeds From Issuance Initial Public Offering
ProceedsFromIssuanceInitialPublicOffering
9500000
CY2013Q2 hasi Repayments Of Nonrecourse Debt
RepaymentsOfNonrecourseDebt
18500000
CY2013Q3 us-gaap Debt Issuance Costs
DebtIssuanceCosts
8400000
CY2012Q3 us-gaap Unrealized Gain Loss On Investments
UnrealizedGainLossOnInvestments
-83000
CY2012Q3 us-gaap Investment Income Interest
InvestmentIncomeInterest
2927000
CY2012Q3 us-gaap Gain Loss On Securitization Of Financial Assets
GainLossOnSecuritizationOfFinancialAssets
342000
CY2012Q3 us-gaap Profit Loss
ProfitLoss
6225000
CY2012Q3 us-gaap Revenue Other Financial Services
RevenueOtherFinancialServices
10489000
CY2012Q3 us-gaap Investment Income Net
InvestmentIncomeNet
489000
CY2012Q3 us-gaap Other Income
OtherIncome
10000
CY2012Q3 us-gaap Accretion Amortization Of Discounts And Premiums Investments
AccretionAmortizationOfDiscountsAndPremiumsInvestments
-171000
CY2012Q3 us-gaap Investment Banking Advisory Brokerage And Underwriting Fees And Commissions
InvestmentBankingAdvisoryBrokerageAndUnderwritingFeesAndCommissions
10147000
CY2012Q3 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
1436000
CY2012Q3 us-gaap Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
14000
CY2012Q3 us-gaap Interest Expense Other
InterestExpenseOther
61000
CY2012Q3 us-gaap Investment Income Investment Expense
InvestmentIncomeInvestmentExpense
2438000
CY2012Q3 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
1907000
CY2012Q3 us-gaap Depreciation And Amortization
DepreciationAndAmortization
106000
CY2012Q3 us-gaap Additions To Other Assets Amount
AdditionsToOtherAssetsAmount
-29000
CY2012Q3 us-gaap Other General Expense
OtherGeneralExpense
4753000
CY2012Q3 us-gaap Labor And Related Expense
LaborAndRelatedExpense
4139000
CY2012Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
CY2012Q3 hasi Portfolio Receivable Collections
PortfolioReceivableCollections
129000
CY2013Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.11
CY2013Q3 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.06
CY2013Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
15795118 shares
CY2013Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.11
CY2013Q3 us-gaap Income Loss From Continuing Operations Per Basic And Diluted Share
IncomeLossFromContinuingOperationsPerBasicAndDilutedShare
0.11
CY2013Q3 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
15795118 shares
CY2013Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
15795118 shares
CY2013Q3 us-gaap Revenues
Revenues
4796000
CY2013Q3 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
1591000
CY2013Q3 us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
1636000
CY2013Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
1894000
CY2013Q3 us-gaap Unrealized Gain Loss On Investments
UnrealizedGainLossOnInvestments
-258000
CY2013Q3 us-gaap Investment Income Interest
InvestmentIncomeInterest
5180000
CY2013Q3 us-gaap Gain Loss On Securitization Of Financial Assets
GainLossOnSecuritizationOfFinancialAssets
1885000
CY2013Q3 us-gaap Profit Loss
ProfitLoss
1894000
CY2013Q3 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
1760000
CY2013Q3 us-gaap Revenue Other Financial Services
RevenueOtherFinancialServices
2206000
CY2013Q3 us-gaap Investment Income Net
InvestmentIncomeNet
2590000
CY2013Q3 us-gaap Other Income
OtherIncome
4000
CY2013Q3 us-gaap Net Income Loss
NetIncomeLoss
1842000
CY2013Q3 us-gaap Accretion Amortization Of Discounts And Premiums Investments
AccretionAmortizationOfDiscountsAndPremiumsInvestments
-112000
CY2013Q3 us-gaap Investment Banking Advisory Brokerage And Underwriting Fees And Commissions
InvestmentBankingAdvisoryBrokerageAndUnderwritingFeesAndCommissions
321000
CY2013Q3 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
52000
CY2013Q3 us-gaap Investment Income Investment Expense
InvestmentIncomeInvestmentExpense
2590000
CY2013Q3 us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
45000
CY2013Q3 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
866000
CY2013Q3 us-gaap Depreciation And Amortization
DepreciationAndAmortization
61000
CY2013Q3 us-gaap Additions To Other Assets Amount
AdditionsToOtherAssetsAmount
CY2013Q3 us-gaap Other General Expense
OtherGeneralExpense
2902000
CY2013Q3 us-gaap Labor And Related Expense
LaborAndRelatedExpense
1979000
CY2013Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
CY2013Q3 hasi Portfolio Receivable Collections
PortfolioReceivableCollections
76000
CY2013Q3 hasi Number Of Operating Partnership Units Held By Noncontrolling Interest
NumberOfOperatingPartnershipUnitsHeldByNoncontrollingInterest
462375 shares
CY2013Q3 hasi Dividend Paid On Participating Securities
DividendPaidOnParticipatingSecurities
44000
CY2013Q3 hasi Undistributed Earnings To Participating Securities
UndistributedEarningsToParticipatingSecurities
-38000

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