v3.3.1.900
Equity method investments in unconsolidated affiliates (Tables)
12 Months Ended
Dec. 31, 2015
Equity method investments in unconsolidated affiliates  
Schedule of equity method investments

 

 

 

 

 

 

 

 

 

 

 

 

Percentage of

 

Carrying value as of

 

 

 

Ownership as of

 

December 31, 

 

Entity name

 

December 31, 2015

 

2015

 

2014

 

Frederickson

    

50.2

%  

$

124.7

    

$

135.0

 

Orlando Cogen, LP

 

50.0

%  

 

8.4

 

 

10.9

 

Koma Kulshan Associates

 

49.8

%  

 

5.4

 

 

5.7

 

Chambers Cogen, LP

 

40.0

%  

 

135.7

 

 

143.3

 

Selkirk Cogen Partners, LP

 

17.7

%  

 

12.0

 

 

12.0

 

Total

 

 

 

$

286.2

 

$

306.9

 

 

Equity (deficit) in earnings (loss) of equity method investments

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Year Ended December 31, 

 

Entity name

 

2015

 

2014

 

2013

 

Chambers Cogen, LP

    

$

6.5

    

$

7.0

    

$

9.6

 

Orlando Cogen, LP

 

 

27.0

 

 

18.6

 

 

3.3

 

Koma Kulshan Associates

 

 

0.4

 

 

0.9

 

 

0.3

 

Frederickson

 

 

2.6

 

 

2.2

 

 

2.1

 

Selkirk Cogen Partners, LP

 

 

0.2

 

 

(3.2)

 

 

8.7

 

Gregory Power Partners, LP(1)

 

 

 —

 

 

 —

 

 

1.6

 

Other

 

 

 —

 

 

 —

 

 

0.2

 

Total

 

 

36.7

 

 

25.5

 

 

25.8

 

Distributions from equity method investments

 

 

(58.5)

 

 

(76.2)

 

 

(40.9)

 

Deficit in earnings of equity method investments, net of distributions

 

$

(21.8)

 

$

(50.7)

 

$

(15.1)

 


(1)

We sold Gregory in August 2013, resulting in a gain on sale of approximately of $30.4 million, which is recorded in gain on sale of equity investments in the consolidated statements of operations for the year ended December 31, 2013.

Summarized financial position information

 

 

 

 

 

 

 

 

 

 

 

 

    

2015

    

2014

    

2013

 

Assets(1)

 

 

 

 

 

 

 

 

 

 

Current assets

 

 

 

 

 

 

 

 

 

 

Chambers

 

$

15.0

 

$

14.4

 

$

11.8

 

Frederickson

 

 

1.8

 

 

1.8

 

 

11.0

 

Orlando

 

 

10.0

 

 

6.3

 

 

7.4

 

Other

 

 

12.2

 

 

12.9

 

 

14.6

 

Non-current assets

 

 

 

 

 

 

 

 

 

 

Chambers

 

 

201.7

 

 

213.4

 

 

224.0

 

Frederickson

 

 

124.0

 

 

134.0

 

 

143.9

 

Orlando

 

 

10.2

 

 

11.3

 

 

12.5

 

Other

 

 

7.5

 

 

7.2

 

 

26.2

 

 

 

$

382.4

 

$

401.3

 

$

451.4

 

Liabilities(1)

 

 

 

 

 

 

 

 

 

 

Current liabilities

 

 

 

 

 

 

 

 

 

 

Chambers

 

$

3.7

 

$

3.5

 

$

4.4

 

Frederickson

 

 

0.7

 

 

0.3

 

 

0.6

 

Orlando

 

 

11.7

 

 

6.5

 

 

5.6

 

Other

 

 

0.6

 

 

1.4

 

 

4.0

 

Non-current liabilities

 

 

 

 

 

 

 

 

 

 

Chambers

 

 

77.3

 

 

81.0

 

 

77.7

 

Frederickson

 

 

0.4

 

 

0.4

 

 

0.4

 

Orlando

 

 

 —

 

 

0.1

 

 

 —

 

Other

 

 

1.8

 

 

1.2

 

 

6.6

 

 

 

$

96.2

 

$

94.4

 

$

99.3

 

 


(1)

Excludes Idaho Wind Partners 1, LLC and Goshen, which were sold in June 2015 as a part of the sale of the Wind Projects.

Summary of operating results

Operating results(1)

    

2015

    

2014

    

2013

 

Revenue

 

 

 

 

 

 

 

 

 

 

Chambers

 

$

48.0

 

$

54.8

 

$

52.7

 

Frederickson

 

 

21.6

 

 

20.6

 

 

20.7

 

Orlando

 

 

54.1

 

 

50.5

 

 

45.6

 

Other

 

 

13.1

 

 

45.3

 

 

72.5

 

 

 

 

136.8

 

 

171.2

 

 

191.5

 

Project expenses

 

 

 

 

 

 

 

 

 

 

Chambers

 

 

39.7

 

 

44.8

 

 

40.6

 

Frederickson

 

 

19.0

 

 

18.4

 

 

18.5

 

Orlando

 

 

27.1

 

 

31.9

 

 

42.3

 

Other

 

 

12.7

 

 

46.8

 

 

59.6

 

 

 

 

98.5

 

 

141.9

 

 

161.0

 

Project other income (expense)

 

 

 

 

 

 

 

 

 

 

Chambers

 

 

(1.8)

 

 

(3.0)

 

 

(2.5)

 

Frederickson

 

 

 —

 

 

 —

 

 

(0.1)

 

Orlando

 

 

 —

 

 

 —

 

 

 —

 

Other

 

 

0.2

 

 

(0.8)

 

 

(2.1)

 

 

 

 

(1.6)

 

 

(3.8)

 

 

(4.7)

 

Project income (loss)

 

 

 

 

 

 

 

 

 

 

Chambers

 

$

6.5

 

$

7.0

 

$

9.6

 

Frederickson

 

 

2.6

 

 

2.2

 

 

2.1

 

Orlando

 

 

27.0

 

 

18.6

 

 

3.3

 

Other

 

 

0.6

 

 

(2.3)

 

 

10.8

 

 

 

 

36.7

 

 

25.5

 

 

25.8

 


1)

Excludes Idaho Wind Partners 1, LLC and Goshen, which were sold in June 2015 as a part of the sale of Wind Projects.