Financial information by segment (Tables)
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12 Months Ended |
Dec. 31, 2017 |
| Financial information by segment [Abstract] |
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| Revenues and Further Adjusted EBITDA, assets and liabilities by operating segments and business sectors |
| a) | The following tables show Revenues and Further Adjusted EBITDA by operating segments and business sectors for the years 2017, 2016 and 2015: |
| | Revenue | | Further Adjusted EBITDA | | | | For the year ended December 31, | | For the year ended December 31, | | Geography | 2017 | | 2016 | | 2015 | | 2017 | | 2016 | | 2015 | | North America | | $ | 332,705 | | | $ | 337,061 | | | $ | 328,139 | | | $ | 282,328 | | | $ | 284,691 | | | $ | 279,559 | | South America | | | 120,797 | | | | 118,764 | | | | 112,480 | | | | 108,766 | | | | 124,599 | | | | 110,905 | | EMEA | | | 554,879 | | | | 515,972 | | | | 350,262 | | | | 388,216 | | | | 354,020 | | | | 233,754 | | Total | | $ | 1,008,381 | | | $ | 971,797 | | | $ | 790,881 | | | $ | 779,310 | | | $ | 763,310 | | | $ | 624,218 | |
| | Revenue | | Further Adjusted EBITDA | | | | For the year ended December 31, | | For the year ended December 31, | | Business sectors | 2017 | | 2016 | | 2015 | | 2017 | | 2016 | | 2015 | | Renewable energy | | $ | 767,226 | | | $ | 724,325 | | | $ | 543,012 | | | $ | 569,193 | | | $ | 538,427 | | | $ | 413,933 | | Efficient natural gas | | | 119,784 | | | | 128,046 | | | | 138,717 | | | | 106,140 | | | | 106,492 | | | | 107,671 | | Electric transmission lines | | | 95,096 | | | | 95,137 | | | | 86,393 | | | | 87,695 | | | | 104,795 | | | | 89,047 | | Water | | | 26,275 | | | | 24,288 | | | | 22,759 | | | | 16,282 | | | | 13,596 | | | | 13,567 | | Total | | $ | 1,008,381 | | | $ | 971,797 | | | $ | 790,881 | | | $ | 779,310 | | | $ | 763,310 | | | $ | 624,218 | |
The reconciliation of segment Further Adjusted EBITDA with the profit/(loss) attributable to the parent company is as follows:
| | | For the year ended December 31, | | | | | 2017 | | | 2016 | | | 2015 | | Loss attributable to the Company | | $ | (111,804 | ) | | $ | (4,855 | ) | | $ | (209,005 | ) | Profit attributable to non-controlling interests | | | 6,917 | | | | 6,522 | | | | 10,819 | | Income tax | | | 119,837 | | | | 1,666 | | | | 23,790 | | Share of profits/(losses) of associates | | | (5,351 | ) | | | (6,646 | ) | | | (7,844 | ) | Dividend from exchangeable preferred equity investment in ACBH (Note 21) | | | 10,383 | | | | 27,948 | | | | 18,400 | | Financial expense, net | | | 448,368 | | | | 405,750 | | | | 526,758 | | Depreciation, amortization, and impairment charges | | | 310,960 | | | | 332,925 | | | | 261,301 | | Total segment Further Adjusted EBITDA | | $ | 779,310 | | | $ | 763,310 | | | $ | 624,219 | |
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| Assets and liabilities by geography |
| b) | The assets and liabilities by operating segments (and business sector) at the end of 2017 and 2016 are as follows: |
Assets and liabilities by geography as of December 31, 2017:
| | | North America | | | South America | | | EMEA | | | Balance as of December 31, 2017 | | Assets allocated | | | | | | | | | | | | | Contracted concessional assets | | | 3,770,169 | | | | 1,100,778 | | | | 4,213,323 | | | | 9,084,270 | | Investments carried under the equity method | | | - | | | | - | | | | 55,784 | | | | 55,784 | | Current financial investments | | | 116,451 | | | | 59,831 | | | | 31,263 | | | | 207,545 | | Cash and cash equivalents (project companies) | | | 149,236 | | | | 42,548 | | | | 329,078 | | | | 520,862 | | Subtotal allocated | | | 4,035,856 | | | | 1,203,157 | | | | 4,629,448 | | | | 9,868,461 | | Unallocated assets | | | | | | | | | | | | | | | | | Other non-current assets | | | | | | | | | | | | | | | 210,378 | | Other current assets (including cash and cash equivalents at holding company level) | | | | | | | | | | | | | | | 413,500 | | Subtotal unallocated | | | | | | | | | | | | | | | 623,878 | | Total assets | | | | | | | | | | | | | | | 10,492,339 | |
| | North America | | | South America | | | EMEA | | | Balance as of December 31, 2017 | | Liabilities allocated | | | | | | | | | | | | | Long-term and short-term project debt | | | 1,821,102 | | | | 876,063 | | | | 2,778,043 | | | | 5,475,208 | | Grants and other liabilities | | | 1,593,048 | | | | 810 | | | | 42,202 | | | | 1,636,060 | | Subtotal allocated | | | 3,414,150 | | | | 876,873 | | | | 2,820,245 | | | | 7,111,268 | | Unallocated liabilities | | | | | | | | | | | | | | | | | Long-term and short-term corporate debt | | | | | | | | | | | | | | | 643,083 | | Other non-current liabilities | | | | | | | | | | | | | | | 657,345 | | Other current liabilities | | | | | | | | | | | | | | | 185,190 | | Subtotal unallocated | | | | | | | | | | | | | | | 1,485,618 | | Total liabilities | | | | | | | | | | | | | | | 8,596,886 | | Equity unallocated | | | | | | | | | | | | | | | 1,895,453 | | Total liabilities and equity unallocated | | | | | | | | | | | | | | | 3,381,071 | | Total liabilities and equity | | | | | | | | | | | | | | | 10,492,339 | |
Assets and liabilities by geography as of December 31, 2016: | | | North America | | | South America | | | EMEA | | | Balance as of December 31, 2016 | | Assets allocated | | | | | | | | | | | | | Contracted concessional assets | | | 3,920,106 | | | | 1,144,712 | | | | 3,859,454 | | | | 8,924,272 | | Investments carried under the equity method | | | - | | | | - | | | | 55,009 | | | | 55,009 | | Current financial investments | | | 136,665 | | | | 62,215 | | | | 29,158 | | | | 228,038 | | Cash and cash equivalents (project companies) | | | 185,970 | | | | 40,015 | | | | 246,671 | | | | 472,656 | | Subtotal allocated | | | 4,242,741 | | | | 1,246,942 | | | | 4,190,291 | | | | 9,679,975 | | Unallocated assets | | | | | | | | | | | | | | | | | Other non-current assets | | | | | | | | | | | | | | | 272,664 | | Other current assets (including cash and cash equivalents at holding company level) | | | | | | | | | | | | | | | 345,160 | | Subtotal unallocated | | | | | | | | | | | | | | | 617,824 | | Total assets | | | | | | | | | | | | | | | 10,297,799 | |
| | North America | | | South America | | | EMEA | | | Balance as of December 31, 2016 | | Liabilities allocated | | | | | | | | | | | | | Long-term and short-term project debt | | | 1,870,861 | | | | 895,316 | | | | 2,564,290 | | | | 5,330,467 | | Grants and other liabilities | | | 1,575,303 | | | | 1,512 | | | | 35,230 | | | | 1,612,045 | | Subtotal allocated | | | 3,446,164 | | | | 896,828 | | | | 2,599,520 | | | | 6,942,512 | | Unallocated liabilities | | | | | | | | | | | | | | | | | Long-term and short-term corporate debt | | | | | | | | | | | | | | | 668,201 | | Other non-current liabilities | | | | | | | | | | | | | | | 546,053 | | Other current liabilities | | | | | | | | | | | | | | | 181,922 | | Subtotal unallocated | | | | | | | | | | | | | | | 1,396,176 | | Total liabilities | | | | | | | | | | | | | | | 8,338,688 | | Equity unallocated | | | | | | | | | | | | | | | 1,959,111 | | Total liabilities and equity unallocated | | | | | | | | | | | | | | | 3,355,287 | | Total liabilities and equity | | | | | | | | | | | | | | | 10,297,799 | |
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| Assets and liabilities by business sectors |
Assets and liabilities by business sectors as of December 31, 2017:
| | | Renewable energy | | | Efficient natural gas | | | Electric transmission lines | | | Water | | | Balance as of December 31, 2017 | | Assets allocated | | | | | | | | | | | | | | | | Contracted concessional assets | | | 7,436,362 | | | | 660,387 | | | | 897,269 | | | | 90,252 | | | | 9,084,270 | | Investments carried under the equity method | | | 12,419 | | | | - | | | | - | | | | 43,365 | | | | 55,784 | | Current financial investments | | | 17,249 | | | | 116,430 | | | | 59,289 | | | | 14,577 | | | | 207,545 | | Cash and cash equivalents (project companies) | | | 452,792 | | | | 39,064 | | | | 15,325 | | | | 13,681 | | | | 520,862 | | Subtotal allocated | | | 7,918,822 | | | | 815,881 | | | | 971,883 | | | | 161,875 | | | | 9,868,461 | | Unallocated assets | | | | | | | | | | | | | | | | | | | | | Other non-current assets | | | | | | | | | | | | | | | | | | | 210,378 | | Other current assets (including cash and cash equivalents at holding company level) | | | | | | | | | | | | | | | | | | | 413,500 | | Subtotal unallocated | | | | | | | | | | | | | | | | | | | 623,878 | | Total assets | | | | | | | | | | | | | | | | | | | 10,492,339 | |
| | Renewable energy | | | Efficient natural gas | | | Electric transmission lines | | | Water | | | Balance as of December 31, 2017 | | Liabilities allocated | | | | | | | | | | | | | | | | Long-term and short-term project debt | | | 4,162,596 | | | | 579,173 | | | | 698,346 | | | | 35,093 | | | | 5,475,208 | | Grants and other liabilities | | | 1,635,508 | | | | 552 | | | | - | | | | - | | | | 1,636,060 | | Subtotal allocated | | | 5,798,104 | | | | 579,725 | | | | 698,346 | | | | 35,093 | | | | 7,111,268 | | Unallocated liabilities | | | | | | | | | | | | | | | | | | | | | Long-term and short-term corporate debt | | | | | | | | | | | | | | | | | | | 643,083 | | Other non-current liabilities | | | | | | | | | | | | | | | | | | | 657,345 | | Other current liabilities | | | | | | | | | | | | | | | | | | | 185,190 | | Subtotal unallocated | | | | | | | | | | | | | | | | | | | 1,485,618 | | Total liabilities | | | | | | | | | | | | | | | | | | | 8,596,886 | | Equity unallocated | | | | | | | | | | | | | | | | | | | 1,895,453 | | Total liabilities and equity unallocated | | | | | | | | | | | | | | | | | | | 3,381,071 | | Total liabilities and equity | | | | | | | | | | | | | | | | | | | 10,492,339 | |
Assets and liabilities by business sectors as of December 31, 2016: | | | Renewable energy | | | Efficient natural gas | | | Electric transmission lines | | | Water | | | Balance as of December 31, 2016 | | Assets allocated | | | | | | | | | | | | | | | | Contracted concessional assets | | | 7,255,308 | | | | 646,927 | | | | 929,005 | | | | 93,032 | | | | 8,924,272 | | Investments carried under the equity method | | | 12,953 | | | | - | | | | - | | | | 42,056 | | | | 55,009 | | Current financial investments | | | 13,661 | | | | 136,644 | | | | 62,215 | | | | 15,518 | | | | 228,038 | | Cash and cash equivalents (project companies) | | | 420,215 | | | | 30,295 | | | | 11,357 | | | | 10,789 | | | | 472,656 | | Subtotal allocated | | | 7,702,137 | | | | 813,866 | | | | 1,002,577 | | | | 161,395 | | | | 9,679,975 | | Unallocated assets | | | | | | | | | | | | | | | | | | | | | Other non-current assets | | | | | | | | | | | | | | | | | | | 272,664 | | Other current assets (including cash and cash equivalents at holding company level) | | | | | | | | | | | | | | | | | | | 345,160 | | Subtotal unallocated | | | | | | | | | | | | | | | | | | | 617,824 | | Total assets | | | | | | | | | | | | | | | | | | | 10,297,799 | |
| | Renewable energy | | | Efficient natural gas | | | Electric transmission lines | | | Water | | | Balance as of December 31, 2016 | | Liabilities allocated | | | | | | | | | | | | | | | | Long-term and short-term project debt | | | 3,979,096 | | | | 598,256 | | | | 711,517 | | | | 41,598 | | | | 5,330,467 | | Grants and other liabilities | | | 1,611,067 | | | | 239 | | | | 739 | | | | - | | | | 1,612,045 | | Subtotal allocated | | | 5,590,163 | | | | 598,495 | | | | 712,256 | | | | 41,598 | | | | 6,942,512 | | Unallocated liabilities | | | | | | | | | | | | | | | | | | | | | Long-term and short-term corporate debt | | | | | | | | | | | | | | | | | | | 668,201 | | Other non-current liabilities | | | | | | | | | | | | | | | | | | | 546,053 | | Other current liabilities | | | | | | | | | | | | | | | | | | | 181,922 | | Subtotal unallocated | | | | | | | | | | | | | | | | | | | 1,396,176 | | Total liabilities | | | | | | | | | | | | | | | | | | | 8,338,688 | | Equity unallocated | | | | | | | | | | | | | | | | | | | 1,959,111 | | Total liabilities and equity unallocated | | | | | | | | | | | | | | | | | | | 3,355,287 | | Total liabilities and equity | | | | | | | | | | | | | | | | | | | 10,297,799 | |
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| Depreciation, amortization and impairment charges recognized |
| | c) | The amount of depreciation, amortization and impairment charges recognized for the years ended December 31, 2017, 2016 and 2015 are as follows: |
| | | For the year ended December 31, | | Depreciation, amortization and impairment by geography | | 2017 | | | 2016 | | | 2015 | | North America | | | (123,726 | ) | | | (129,478 | ) | | | (129,091 | ) | South America | | | (40,880 | ) | | | (62,387 | ) | | | (41,274 | ) | EMEA | | | (146,354 | ) | | | (141,060 | ) | | | (90,936 | ) | Total | | | (310,960 | ) | | | (332,925 | ) | | | (261,301 | ) |
| | For the year ended December 31, | | Depreciation, amortization and impairment by business sectors | 2017 | | 2016 | | 2015 | | Renewable energy | | | (282,376 | ) | | | (304,235 | ) | | | (232,699 | ) | Electric transmission lines | | | (28,584 | ) | | | (28,690 | ) | | | (28,602 | ) | Total | | | (310,960 | ) | | | (332,925 | ) | | | (261,301 | ) |
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