Condensed consolidating financial information (Tables)

3 Months Ended

Mar. 31, 2012

Condensed consolidating financial information

Schedule of consolidating balance sheet

	Guarantor Subsidiaries		Curtis Palmer			Atlantic Power			Eliminations			Consolidated Balance
Assets
Current Assets:
Cash and cash equivalents	$	100,827	$	(78	)	$	5,860		$	—		$	106,609
Restricted cash		27,761		—			—			—			27,761
Accounts receivable		89,392		17,477			2,996			(50,364	)		59,501
Prepayments, supplies, and other		39,555		1,167			1,139			—			41,861
Other current assets		4,055		—			8,856			—			12,911
Total current assets		261,590		18,566			18,851			(50,364	)		248,643
Property, plant, and equipment, net		1,375,605		175,087			—			(1,066	)		1,549,626
Transmission system rights		178,319		—			—			—			178,319
Equity investments in unconsolidated affiliates		5,053,320		—			865,104			(5,441,326	)		477,098
Other intangible assets, net		582,491		166,067			—			(150,925	)		597,633
Goodwill		285,358		58,228			—			—			343,586
Other assets		483,401		—			438,639			(841,235	)		80,805
Total assets	$	8,220,084	$	417,948		$	1,322,594		$	(6,484,916	)	$	3,475,710
Liabilities
Current Liabilities:
Accounts payable and accrued liabilities	$	99,992	$	4,704		$	38,672		$	(50,364	)	$	93,004
Revolving credit facility		22,800					50,000						72,800
Current portion of long-term debt		246,520		—			—			—			246,520
Other current liabilities		51,308		—			13,468			—			64,776
Total current liabilities		420,620		4,704			102,140			(50,364	)		477,100
Long-term debt		714,685		190,000			460,000			—			1,364,685
Convertible debentures		—		—			193,269			—			193,269
Other non-current liabilities		1,214,271		8,135			948			(841,235	)		382,119
Equity
Preferred shares issued by a subsidiary company		221,304		—			—			—			221,304
Common shares		5,094,502		208,991			1,217,893			(5,303,493	)		1,217,893
Accumulated other comprehensive income (loss)		12,216		—			—			—			12,216
Retained deficit		539,619		6,118			(651,656	)		(289,824	)		(395,743	)
Total Atlantic Power Corporation shareholders' equity		5,867,641		215,109			566,237			(5,593,317	)		1,055,670
Noncontrolling interest		2,867		—			—			—			2,867
Total equity		5,870,508		215,109			566,237			(5,593,317	)		1,058,537
Total liabilities and equity	$	8,220,084	$	417,948		$	1,322,594		$	(6,484,916	)	$	3,475,710

Consolidating statement of operations

	Guarantor Subsidiaries			Curtis Palmer			Atlantic Power			Eliminations			Consolidated Balance
Project revenue:
Total project revenue	$	157,118		$	10,617		$	—		$	(125	)	$	167,610
Project expenses:
Fuel		62,099			—			—			—			62,099
Project operations and maintenance		30,067			1,636			(128	)		(75	)		31,500
Depreciation and amortization		32,705			3,763			—			—			36,468
		124,871			5,399			(128	)		(75	)		130,067
Project other income (expense):
Change in fair value of derivative instruments		(58,122	)		—			—			—			(58,122	)
Equity in earnings of unconsolidated affiliates		2,947			—			—			—			2,947
Interest expense, net		(4,325	)		(2,708	)		—			—			(7,033	)
Other income, net		15			—			—			—			15
		(59,485	)		(2,708	)		—			—			(62,193	)
Project income		(27,238	)		2,510			128			(50	)		(24,650	)
Administrative and other expenses (income):
Administration expense		5,134			—			2,699			—			7,833
Interest, net		20,379			—			1,484			173			22,036
Foreign exchange loss		1,133			—			(147	)		—			986
		26,646			—			4,036			173			30,855
Income (loss) from operations before income taxes		(53,884	)		2,510			(3,908	)		(223	)		(55,505	)
Income tax expense (benefit)		(16,291	)		—			—			—			(16,291	)
Net income (loss)		(37,593	)		2,510			(3,908	)		(223	)		(39,214	)
Net loss attributable to noncontrolling interest		(161	)		—			—			—			(161	)
Net income attributable to Preferred share dividends of a subsidiary company		3,239			—			—			—			3,239
Net income (loss) attributable to Atlantic Power Corporation	$	(40,671	)	$	2,510		$	(3,908	)	$	(223	)	$	(42,292	)

Consolidating statement of cash flows

	Guarantor Subsidiaries			Curtis Palmer			Atlantic Power			Eliminations		Consolidated Balance
Net cash provided by operating activities	$	30,019		$	(46	)	$	36,519		$	—	$	66,492
Cash flows used in investing activities:
Acquisitions and investments, net of cash acquired		198			—			(198	)		—		—
Change in restricted cash		(6,349	)		—			—			—		(6,349	)
Biomass development costs		(123	)		—			—			—		(123	)
Purchase of property, plant and equipment		(164,126	)		(17	)		—			—		(164,143	)
Net cash used in investing activities		(170,400	)		(17	)		(198	)		—		(170,615	)
Cash flows provided by financing activities:
Repayment for long-term debt		(2,725	)					—			—		(2,725	)
Deferred finance costs		(10,179	)					—			—		(10,179	)
Proceeds from project-level debt		184,216						—			—		184,216
Payments for revolving credit facility borrowings		(8,000	)		—			—			—		(8,000	)
Proceeds from revolving credit facility borrowings		22,800			—			—			—		22,800
Dividends paid		(3,274	)		—			(32,757	)		—		(36,031	)
Net cash provided by financing activities		182,838			—			(32,757	)		—		150,081
Net increase in cash and cash equivalents		42,457			(63	)		3,564			—		45,958
Cash and cash equivalents at beginning of period		58,370			(15	)		2,296			—		60,651
Cash and cash equivalents at end of period	$	100,827		$	(78	)	$	5,860		$	—	$	106,609