June 30,

December 31,

2016

2015

Assets

Current assets:

Cash and cash equivalents

$

24.2

$

60.3

Restricted cash

9.4

10.4

Accounts receivable

142.8

130.6

Current portion of derivative instruments asset

1.6

—

Inventory

15.6

15.2

Prepayments and other current assets

13.3

12.8

Total current assets

206.9

229.3

Property, plant, and equipment, net

644.9

650.9

Equity investment in unconsolidated affiliates

281.0

286.2

Power purchase agreements and intangible assets, net

287.0

308.9

Goodwill

134.5

134.5

Derivative instruments asset

1.1

0.3

Other assets

6.0

8.0

Total assets

$

1,561.4

$

1,618.1

Liabilities

Current liabilities:

Accounts payable

$

5.7

$

6.0

Related party payables

4.8

101.1

Accrued interest

0.3

0.3

Other accrued liabilities

19.7

22.2

Current portion of long-term debt

94.1

13.4

Current portion of derivative instruments liability

21.8

35.1

Other current liabilities

4.4

2.5

Total current liabilities

150.8

180.6

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

753.7

629.5

Derivative instruments liability

17.9

12.9

Deferred income taxes

68.0

85.8

Power purchase and fuel supply agreement liabilities, net

27.0

27.0

Other long-term liabilities

51.4

280.2

Total liabilities

1,068.8

1,216.0

Commitments and contingencies

Equity

Partners’ capital

1,263.0

1,144.3

Accumulated other comprehensive loss

(119.2

)

(137.5

)

Retained deficit

(872.5

)

(826.0

)

Total APLP Holdings Limited Partnership equity

271.3

180.8

Preferred shares issued by a subsidiary company

221.3

221.3

Total equity

492.6

402.1

Total liabilities and equity

$

1,561.4

$

1,618.1

Three months ended
June 30,

Six months ended
June 30,

2016

2015

2016

2015

Project revenue:

Energy sales

$

42.5

$

44.6

$

92.1

$

95.7

Energy capacity revenue

32.3

33.0

60.9

63.5

Other

15.6

17.6

37.7

41.3

90.4

95.2

190.7

200.5

Project expenses:

Fuel

32.1

34.9

67.6

78.1

Operations and maintenance

26.1

31.2

44.8

49.6

Depreciation and amortization

23.6

26.2

46.6

52.3

81.8

92.3

159.0

180.0

Project other income (expense):

Change in fair value of derivative instruments

13.0

5.4

14.1

5.8

Equity in earnings of unconsolidated affiliates

7.6

8.6

18.3

19.4

Interest expense, net

(0.6

)

(0.8

)

(1.3

)

(1.5

)

Other income

0.1

2.3

—

2.2

20.1

15.5

31.1

25.9

Project income

28.7

18.4

62.8

46.4

Administrative and other expenses (income):

Administration

0.6

0.9

0.9

1.9

Interest, net

46.5

20.4

67.0

41.0

Foreign exchange loss (gain)

0.5

2.1

9.6

(12.2

)

Other income

7.2

—

7.1

—

54.8

23.4

84.6

30.7

(Loss) income from continuing operations before income taxes

(26.1

)

(5.0

)

(21.8

)

15.7

Income tax (benefit) expense

(17.3

)

2.9

(15.7

)

(1.7

)

Net (loss) income from continuing operations

(8.8

)

(7.9

)

(6.1

)

17.4

Net income from discontinued operations

—

37.0

—

19.3

Net (loss) income

(8.8

)

29.1

(6.1

)

36.7

Net loss attributable to noncontrolling interests

—

(3.5

)

—

(11.0

)

Net income attributable to preferred shares of a subsidiary company

2.1

2.3

4.2

4.6

Net (loss) income attributable to APLP Holdings Limited Partnership

$

(10.9

)

$

30.3

$

(10.3

)

$

43.1

June

2016

2015

Cash flows from operating activities:

Net (loss) income

$

(6.1

)

$

36.7

Adjustments to reconcile to net cash provided by operating activities:

Depreciation and amortization

46.6

62.6

Loss (gain) on sale of assets

0.2

(47.9

)

Stock-based compensation expense

0.9

1.0

Distributions from unconsolidated affiliates

23.5

27.0

Equity in earnings from unconsolidated affiliate

(18.3

)

(19.2

)

Unrealized foreign exchange loss (gain)

9.9

(12.6

)

Change in fair value of derivative instruments

(14.1

)

(5.1

)

Change in deferred income taxes

(17.5

)

20.4

Change in other operating balances

Accounts receivable

(12.2

)

(10.3

)

Inventory

(0.3

)

2.9

Prepayments, supplies and other assets

33.3

7.6

Accounts payable

(3.3

)

(14.5

)

Accruals and other liabilities

(2.0

)

6.9

Cash flows provided by operating activities

40.6

55.5

Cash flows provided by investing activities:

Proceeds from asset sales

—

339.6

Contribution to equity investment

—

(0.6

)

Change in restricted cash

1.0

4.7

Capitalized development costs

—

(0.8

)

Reimbursement of costs for third party construction project

4.7

—

Purchase of property, plant and equipment

(2.0

)

(4.9

)

Cash flows provided by investing activities

3.7

338.0

Cash flows used in financing activities:

Dividends paid to Parent

(235.2

)

(25.3

)

Dividends paid to noncontroling interests

—

(3.8

)

Dividends paid on preferred shares of a subsidiary company

(4.2

)

(4.6

)

Proceeds from senior secured term loan facility, net of discount

682.9

—

Repayment of corporate and project-level debt

(508.0

)

(81.7

)

Deferred financing costs

(15.9

)

—

Cash flows used in financing activities

(80.4

)

(115.4

)

Net (decrease) increase in cash and cash equivalents

(36.1

)

278.1

Cash and cash equivalents at beginning of period at discountinued operations

—

3.9

Cash and cash equivalents at beginning of period

60.3

97.7

Cash and cash equivalents at end of period

$

24.2

$

379.7

Supplemental cash flow information

Interest paid

$

24.8

$

21.3

Taxes paid

$

1.9

$

2.1

Accruals for construction

$

1.0

—