EX-99.1 3 selectedfinancialdata-exhi.htm EXHIBIT 99.1 - SELECTED FINANCIAL DATA Selected Financial Data - Exhibit 99.1
Exhibit 99.1                
                                                                        

Item 6 — Selected Financial Data
The following table presents the Company's historical selected financial data, which has been recast to include the Acquired ROFO and EME-NYLD-Eligible Assets, or collectively, the Drop Down Assets, as if the transfers had taken place from the beginning of the financial statements period, or from the date the entities were under common control. The acquisitions are further described in Item 15, Note 3, Business Acquisitions. The table also shows the retrospective effect of the stock split, which is further described in Item — 15, Note 11, Stockholders' Equity. Additionally, for all periods prior to the initial public offering, the data below reflects the Company's accounting predecessor, or NRG Yield, the financial statements of which were prepared on a ''carve-out'' basis from NRG and are intended to represent the financial results of the contracted renewable energy and conventional generation and thermal infrastructure assets in the U.S. that were acquired by NRG Yield LLC on July 22, 2013. For all periods subsequent to the initial public offering, the data below reflects the Company's consolidated financial results.
This historical data should be read in conjunction with the Consolidated Financial Statements and the related notes thereto in Item 15 and Item 7, Management's Discussion and Analysis of Financial Condition and Results of Operations.






 
Fiscal year ended December 31,
(In millions, except per share data)
2014
 
2013
 
2012
 
2011
 
2010
Statement of Income Data:
 
 
 
Operating Revenues
 
 
 
 
 
 
 
 
 
Total operating revenues
$
689

 
$
379

 
$
175

 
$
164

 
$
143

Operating Costs and Expenses
 
 
 
 
 
 
 
 
 
Cost of operations
239

 
144

 
114

 
109

 
102

Depreciation and amortization
166

 
61

 
25

 
22

 
16

General and administrative — affiliate
8

 
7

 
7

 
6

 
5

Acquisition-related transaction and integration costs
4

 

 

 

 

Total operating costs and expenses
417

 
212

 
146

 
137

 
123

Operating Income
272

 
167

 
29

 
27

 
20

Other Income (Expense)
 
 
 
 
 
 
 
 
 
Equity in earnings of unconsolidated affiliates
27

 
22

 
19

 
13

 
1

Other income, net
3

 
3

 
2

 
2

 
3

Interest expense
(186
)
 
(52
)
 
(28
)
 
(19
)
 
(13
)
Total other expense
(156
)
 
(27
)
 
(7
)
 
(4
)
 
(9
)
Income Before Income Taxes
116

 
140

 
22

 
23

 
11

Income tax expense
4

 
8

 
10

 
9

 
4

Net Income
$
112

 
$
132

 
$
12

 
$
14

 
$
7

Less: Pre-acquisition net income of Drop Down Assets
48

 
23

 
 
 
 
 
 
Net Income Excluding Pre-acquisition Net Income of Drop Down Assets
64

 
109

 
 
 


 
 
Less: Predecessor income prior to initial public offering on July 22, 2013

 
54

 
 
 
 
 
 
Less: Net income attributable to NRG
48

 
42

 
 
 
 
 
 
Net Income Attributable to NRG Yield, Inc.
$
16

 
$
13

 
 
 
 
 
 
Earnings Per Share Attributable to NRG Yield, Inc. Class A and Class C Common Stockholders
 
 
 
 
 
 
 
 
 
Earnings per Weighted Average Class A Common Share - Basic and Diluted
$
0.30

 
$
0.29

 
n/a

 
n/a

 
n/a

Earnings per Weighted Average Class C Common Share - Basic and Diluted
$
0.30

 
$
0.29

 
n/a

 
n/a

 
n/a

Dividends per Class A common share (a)
$
1.42

 
$
0.23

 
n/a

 
n/a

 
n/a

Other Financial Data:
 
 
 
 
 
 
 
 
 
  Capital expenditures
33

 
353

 
564

 
373

 
65

Cash Flow Data:
 
 
 
 
 
 
 
 
 
  Net cash provided by (used in):
 
 
 
 
 
 
 
 
 
    Operating activities
$
293

 
$
120

 
$
56

 
$
32

 
$
36

    Investing activities
(1,057
)
 
(515
)
 
(594
)
 
(468
)
 
(200
)
    Financing activities
1,111

 
432

 
536

 
427

 
180

Balance Sheet Data (at period end):
 
 
 
 
 
 
 
 
 
  Cash and cash equivalents
$
406

 
$
59

 
$
22

 
$
24

 
$
33

  Property, plant and equipment, net
4,466

 
2,291

 
2,130

 
863

 
526

  Total assets
6,965

 
3,238

 
2,540

 
1,239

 
784

  Total liabilities
5,080

 
1,986

 
1,538

 
678

 
592

  Total stockholders' equity
1,885

 
1,252

 
1,002

 
561

 
192

(a) Dividends on Class A common shares began after the initial public offering on July 22, 2013.
 
 
 
 
 
 
 
 
 

2