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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
11 Months Ended 12 Months Ended
Nov. 30, 2015
Nov. 30, 2017
Nov. 30, 2016
Cash flows from operating activities:      
Net income (loss) $ (24,011) $ 39,245 $ 12,910
Adjustments to reconcile net income (loss) to net cash provided by operating activities:      
Depreciation, amortization and accretion 4,291 28,500 22,880
Unrealized loss (gain) on interest rate swap 611 (706) (1,508)
Interest expense on financing obligation 1,193 0 0
Loss on termination of financing obligation 6,477 0 0
Reserve for rebates receivable 1,338 0 0
Distributions from unconsolidated investees 6,766 43,379 18,075
Equity in earnings of unconsolidated investees (9,055) (43,379) (18,341)
Deferred income taxes 12,491 6,585 18,242
Share-based compensation 112 225 224
Amortization of debt issuance costs 0 983 626
Other, net 328 131 370
Changes in operating assets and liabilities:      
Accounts receivable and financing receivable, net 46 3,801 1,481
Cash grants receivable 146 0 0
Rebates receivable (121) 0 0
Solar power systems to be leased under sales type leases 197 0 0
Prepaid and other assets (4,258) 7,827 (1,435)
Deferred revenue (118) (21) (59)
Accounts payable and other liabilities 5,403 2,098 1,171
Net cash provided by operating activities 1,836 88,668 54,636
Cash flows from investing activities:      
Cash provided by (used in) purchases of property and equipment, net (223,688) (346) 1,167
Cash paid for acquisitions 0 (317,558) (284,797)
Distributions from unconsolidated investees 4,672 36,908 11,629
Net cash used in investing activities (219,016) (280,996) (272,001)
Cash flows from financing activities:      
Proceeds from issuance of Class A shares, net of issuance costs 393,750 0 113,325
Proceeds from issuance of bank loans, net of issuance costs 461,192 284,008 86,567
Repayment of bank loans (264,143) (27,000) 0
Repayment of Short-Term Note to First Solar 0 (1,964) 0
Capital distributions (3,146) (29,252) (20,241)
Cash contributions from noncontrolling interests and redeemable noncontrolling interests - tax equity investors 203,717 28,388 3,671
Cash distributions to noncontrolling interests and redeemable noncontrolling interests - tax equity investors 0 (9,453) (6,179)
Net cash provided by financing activities 273,961 191,595 174,845
Net increase (decrease) in cash and cash equivalents 56,781 (733) (42,520)
Cash and cash equivalents, beginning of period   14,261 56,781
Cash and cash equivalents, end of period 56,781 13,528 14,261
Non-cash transactions:      
Assignment of financing receivables to a third-party financial institution 1,279 0 0
Property and equipment acquisitions funded by liabilities 0 0 19,538
Settlement of related party payable by capital contribution from tax equity investor 0 0 46,837
Predecessor liabilities assumed by SunPower 48,588 0 0
Accrued distributions to noncontrolling interests and redeemable noncontrolling interests - tax equity investors 0 909 975
Issuance by OpCo of OpCo common units, subordinated units and IDRs for acquisition of interests in First Solar Project Entities 408,820 0 0
Issuance by OpCo of promissory note to First Solar in connection with the Stateline Acquisition 0 49,631 0
Supplemental disclosures:      
Cash paid for interest, net of amounts capitalized 437 22,000 11,525
SunPower      
Cash flows from financing activities:      
Capital contributions from SunPower 341,694 0 9,973
Capital distributions (3,163) 0 0
Cash distribution to SunPower for the remaining purchase price payments of initial projects (202,680) 0 0
Non-cash transactions:      
Property and equipment additions funded by SunPower post-IPO 50,683 0 0
SunPower | IPO      
Cash flows from financing activities:      
Capital distributions (371,527) 0 0
First Solar      
Cash flows from financing activities:      
Proceeds from issuance of Short-Term Note to First Solar 1,964 0 0
First Solar | IPO      
Cash flows from financing activities:      
Capital distributions (283,697) 0 0
Sponsors | OpCo Unitholders      
Cash flows from financing activities:      
Capital distributions $ 0 $ (53,132) $ (12,271)