September 30,

December 31,

2017

2016

Assets

Current assets:

Cash and cash equivalents

$

22.3

$

26.0

Restricted cash

5.3

9.3

Accounts receivable - trade, unbilled and other

44.7

34.8

Accounts receivable - related party

36.5

40.2

Current portion of derivative instruments asset

2.6

4.1

Inventory

18.8

14.5

Prepayments and other current assets

12.4

6.3

Total current assets

142.6

135.2

Property, plant, and equipment, net

538.6

613.7

Equity investment in unconsolidated affiliates

199.8

266.8

Power purchase agreements and intangible assets, net

201.6

246.2

Goodwill

36.1

36.1

Derivative instruments asset

2.6

4.6

Other assets

3.4

5.2

Total assets

$

1,124.7

$

1,307.8

Liabilities

Current liabilities:

Accounts payable

$

1.2

$

3.7

Related party payables

33.6

26.3

Accrued interest

7.1

0.3

Other accrued liabilities

16.0

17.5

Current portion of long-term debt

102.0

109.4

Current portion of derivative instruments liability

4.7

6.0

Other current liabilities

2.5

1.8

Total current liabilities

167.1

165.0

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

638.2

697.0

Derivative instruments liability

19.5

14.8

Deferred income taxes

27.1

69.2

Power purchase and fuel supply agreement liabilities, net

24.7

25.3

Other long-term liabilities

54.0

51.6

Total liabilities

930.6

1,022.9

Commitments and contingencies

Equity

Partners’ capital

1,164.3

1,202.0

Accumulated other comprehensive loss

(131.8

)

(146.5

)

Retained deficit

(1,053.6

)

(991.9

)

Total APLP Holdings Limited Partnership equity

(21.1

)

63.6

Preferred shares issued by a subsidiary company

215.2

221.3

Total equity

194.1

284.9

Total liabilities and equity

$

1,124.7

$

1,307.8

Three months ended
September 30,

Six months ended
September 30,

2017

2016

2017

2016

Project revenue:

Energy sales

$

33.3

$

37.5

$

104.9

$

129.7

Energy capacity revenue

29.9

36.1

69.4

97.0

Other

34.2

16.5

131.7

54.2

97.4

90.1

306.0

280.9

Project expenses:

Fuel

22.9

33.5

70.0

101.1

Operations and maintenance

18.0

25.9

57.4

70.7

Depreciation and amortization

29.6

23.4

84.9

70.0

70.5

82.8

212.3

241.8

Project other income (expense):

Change in fair value of derivative instruments

(0.9

)

8.2

(5.1

)

22.4

Equity in earnings (loss) of unconsolidated affiliates

9.3

9.6

(36.1

)

27.9

Interest expense, net

(0.5

)

(0.6

)

(1.7

)

(2.0

)

Other expense

(57.3

)

(84.2

)

(57.2

)

(84.4

)

(49.4

)

(67.0

)

(100.1

)

(36.1

)

Project loss

(22.5

)

(59.7

)

(6.4

)

3.0

Administrative and other expenses:

Administration

1.1

1.3

3.1

2.1

Interest, net

12.9

16.2

41.3

83.2

Foreign exchange loss (gain)

7.0

(2.5

)

13.2

7.1

Other expense

2.8

3.5

10.9

10.8

23.8

18.5

68.5

103.2

Loss before income taxes

(46.3

)

(78.2

)

(74.9

)

(100.2

)

Income tax benefit (expense)

(15.8

)

2.6

(39.1

)

(13.2

)

Net loss

(30.5

)

(80.8

)

(35.8

)

(87.0

)

Net (loss) income attributable to preferred shares of a subsidiary company

(0.8

)

2.1

3.5

6.4

Net loss attributable to APLP Holdings Limited Partnership

$

(29.7

)

$

(82.9

)

$

(39.3

)

$

(93.4

)

September 30,

2017

2016

Cash provided by operating activities:

Net loss

$

(35.8

)

$

(87.0

)

Adjustments to reconcile to net cash provided by operating activities:

Depreciation and amortization

84.9

70.0

Loss on disposal of fixed assets

0.1

—

Loss on sale of assets

—

0.2

Stock-based compensation expense

1.6

1.4

Long-lived asset and goodwill impairment charges

57.3

84.8

Distributions from unconsolidated affiliates

30.9

36.5

Equity in loss (earnings) from unconsolidated affiliate

36.1

(27.9

)

Unrealized foreign exchange loss

12.5

7.3

Change in fair value of derivative instruments

5.1

(22.4

)

Amortization of debt discount and deferred financing costs

—

35.9

Change in deferred income taxes

(42.3

)

(15.8

)

Change in other operating balances

Accounts receivable

(6.2

)

11.1

Inventory

(4.3

)

0.9

Prepayments, supplies and other assets

5.8

(0.9

)

Accounts payable

0.9

(26.9

)

Accruals and other liabilities

3.0

8.5

Cash provided by operating activities

149.6

75.7

Cash (used in) provided by investing activities:

Change in restricted cash

4.0

4.0

Reimbursement of costs for third party construction project

—

4.7

Purchase of property, plant and equipment

(5.7

)

(6.5

)

Cash (used in) provided by investing activities

(1.7

)

2.2

Cash used in financing activities:

Dividends paid to Parent

(57.8

)

(247.2

)

Dividends paid on preferred shares of a subsidiary company

(6.5

)

(6.4

)

Preferred share repurchase

(3.1

)

—

Repayment of debt

(84.2

)

—

Proceeds from senior secured term loan facility, net of discount

—

682.9

Repayment of corporate and project-level debt

—

(530.1

)

Deferred financing costs

—

(16.2

)

Cash used in financing activities

(151.6

)

(117.0

)

Net decrease in cash and cash equivalents

(3.7

)

(39.1

)

Cash and cash equivalents at beginning of period

26.0

60.3

Cash and cash equivalents at end of period

$

22.3

$

21.2

Supplemental cash flow information

Interest paid

$

37.1

$

31.3

Taxes paid

$

2.7

$

2.8

Accruals for construction

$

—

$

0.4