Condensed Consolidating Financial Information (Tables) | 9 Months Ended |
Sep. 30, 2013 |
Condensed Consolidating Financial Information [Abstract] | ' |
Schedule of Condensed Consolidating Statement of Operations | ' |
Unaudited Condensed Consolidating Statement of Operations |
For the Three Months Ended September 30, 2013 |
(In millions) |
|
| |
| | | | | | | | | | | | | | | | | | | | |
| SunEdison, Inc. | | Guarantor | | Non-Guarantor | | Consolidating | | Total | |
Subsidiaries | Subsidiaries | Adjustments | |
Net sales | $ | 193.9 | | | $ | 224.8 | | | $ | 952.5 | | | $ | (759.7 | ) | | $ | 611.5 | | |
|
Cost of goods sold | 208.1 | | | 221.4 | | | 778.5 | | | (657.1 | ) | | 550.9 | | |
|
Gross profit | (14.2 | ) | | 3.4 | | | 174 | | | (102.6 | ) | | 60.6 | | |
|
Operating expenses: | | | | | | | | | | |
Marketing and administration | 30.2 | | | 23 | | | 37.9 | | | — | | | 91.1 | | |
|
Research and development | 12.7 | | | 3.5 | | | 2.4 | | | — | | | 18.6 | | |
|
Restructuring and impairment (reversals) charges | 0.5 | | | 0.3 | | | (0.8 | ) | | — | | | — | | |
|
Operating (loss) income | (57.6 | ) | | (23.4 | ) | | 134.5 | | | (102.6 | ) | | (49.1 | ) | |
|
Non-operating expense (income): | | | | | | | | | | |
Interest expense | 22.1 | | | 5.5 | | | 17.6 | | | — | | | 45.2 | | |
|
Interest income | — | | | — | | | (0.7 | ) | | — | | | (0.7 | ) | |
|
Other, net | (12.3 | ) | | 6.3 | | | 11.5 | | | — | | | 5.5 | | |
|
Total non-operating expense | 9.8 | | | 11.8 | | | 28.4 | | | — | | | 50 | | |
|
(Loss) income before income taxes, investment in subsidiary (loss) income and equity in loss of joint ventures | (67.4 | ) | | (35.2 | ) | | 106.1 | | | (102.6 | ) | | (99.1 | ) | |
|
Income tax (benefit) expense | (161.0 | ) | | 155.1 | | | 22.8 | | | 0.2 | | | 17.1 | | |
|
Income (loss) before investment in subsidiary income (loss) and equity in income (loss) of joint ventures | 93.6 | | | (190.3 | ) | | 83.3 | | | (102.8 | ) | | (116.2 | ) | |
|
Investment in subsidiary (loss) income | (201.6 | ) | | (83.5 | ) | | — | | | 285.1 | | | — | | |
|
Equity in income of joint ventures, net of tax | — | | | — | | | 4.1 | | | — | | | 4.1 | | |
|
Net (loss) income | (108.0 | ) | | (273.8 | ) | | 87.4 | | | 182.3 | | | (112.1 | ) | |
|
Net (income) loss attributable to noncontrolling interests | — | | | (0.5 | ) | | 4.6 | | | — | | | 4.1 | | |
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Net (loss) income attributable to SunEdison stockholders | $ | (108.0 | ) | | $ | (274.3 | ) | | $ | 92 | | | $ | 182.3 | | | $ | (108.0 | ) | |
|
Unaudited Condensed Consolidating Statement of Operations |
For the Three Months Ended September 30, 2012 |
(In millions) |
|
| |
| | | | | | | | | | | | | | | | | | | | |
| SunEdison, Inc. | | Guarantor | | Non-Guarantor | | Consolidating | | Total | |
Subsidiaries | Subsidiaries | Adjustments | |
Net sales | $ | 189.7 | | | $ | 375.9 | | | $ | 667.2 | | | $ | (631.2 | ) | | $ | 601.6 | | |
|
Cost of goods sold | 204.1 | | | 410.9 | | | 577.2 | | | (677.5 | ) | | 514.7 | | |
|
Gross profit | (14.4 | ) | | (35.0 | ) | | 90 | | | 46.3 | | | 86.9 | | |
|
Operating expenses: | | | | | | | | | | |
Marketing and administration | 26.3 | | | 14.3 | | | 28.3 | | | — | | | 68.9 | | |
|
Research and development | 11.9 | | | 3.7 | | | 1.8 | | | — | | | 17.4 | | |
|
Restructuring and impairment (reversals) charges | 16.2 | | | (1.1 | ) | | (73.4 | ) | | — | | | (58.3 | ) | |
|
Operating (loss) income | (68.8 | ) | | (51.9 | ) | | 133.3 | | | 46.3 | | | 58.9 | | |
|
Non-operating expense (income): | | | | | | | | | | |
Interest expense | 12.4 | | | — | | | 15.6 | | | — | | | 28 | | |
|
Interest income | — | | | — | | | (0.9 | ) | | — | | | (0.9 | ) | |
|
Other, net | (11.0 | ) | | 17.7 | | | (10.8 | ) | | 1.7 | | | (2.4 | ) | |
|
Total non-operating expense | 1.4 | | | 17.7 | | | 3.9 | | | 1.7 | | | 24.7 | | |
|
(Loss) income before income taxes, investment in subsidiary (loss) income and equity in loss of joint ventures | (70.2 | ) | | (69.6 | ) | | 129.4 | | | 44.6 | | | 34.2 | | |
|
Income tax (benefit) expense | (22.2 | ) | | (4.6 | ) | | 24.8 | | | (1.3 | ) | | (3.3 | ) | |
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(Loss) income before investment in subsidiary (loss) income and equity in loss of joint ventures | (48.0 | ) | | (65.0 | ) | | 104.6 | | | 45.9 | | | 37.5 | | |
|
Investment in subsidiary income (loss) | 85 | | | 80.6 | | | — | | | (165.6 | ) | | — | | |
|
Equity in loss of joint ventures, net of tax | — | | | — | | | 0.9 | | | — | | | 0.9 | | |
|
Net income (loss) | 37 | | | 15.6 | | | 105.5 | | | (119.7 | ) | | 38.4 | | |
|
Net income attributable to noncontrolling interests | — | | | (0.4 | ) | | (1.0 | ) | | — | | | (1.4 | ) | |
|
Net income (loss) attributable to SunEdison stockholders | $ | 37 | | | $ | 15.2 | | | $ | 104.5 | | | $ | (119.7 | ) | | $ | 37 | | |
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Schedule of Condensed Income Statement [Table Text Block] | ' |
Unaudited Condensed Consolidating Statement of Operations |
For the Nine Months Ended September 30, 2013 |
(In millions) |
|
| |
| | | | | | | | | | | | | | | | | | | | |
| SunEdison, Inc. | | Guarantor | | Non-Guarantor | | Consolidating | | Total | |
Subsidiaries | Subsidiaries | Adjustments | |
Net sales | $ | 580.8 | | | $ | 385.2 | | | $ | 2,262.90 | | | $ | (1,772.5 | ) | | $ | 1,456.40 | | |
|
Cost of goods sold | 625.9 | | | 377.4 | | | 2,005.40 | | | (1,711.8 | ) | | 1,296.90 | | |
|
Gross profit | (45.1 | ) | | 7.8 | | | 257.5 | | | (60.7 | ) | | 159.5 | | |
|
Operating expenses: | | | | | | | | | | |
Marketing and administration | 84.9 | | | 62.5 | | | 92.8 | | | — | | | 240.2 | | |
|
Research and development | 36.4 | | | 9.9 | | | 7.8 | | | — | | | 54.1 | | |
|
Restructuring and impairment (reversals) charges | 1.5 | | | 0.3 | | | (7.4 | ) | | — | | | (5.6 | ) | |
|
Operating (loss) income | (167.9 | ) | | (64.9 | ) | | 164.3 | | | (60.7 | ) | | (129.2 | ) | |
|
Non-operating expense (income): | | | | | | | | | | |
Interest expense | 61.8 | | | 13.1 | | | 52.4 | | | — | | | 127.3 | | |
|
Interest income | — | | | — | | | (2.0 | ) | | — | | | (2.0 | ) | |
|
Other, net | (24.1 | ) | | 0.3 | | | 32.8 | | | — | | | 9 | | |
|
Total non-operating expense | 37.7 | | | 13.4 | | | 83.2 | | | — | | | 134.3 | | |
|
(Loss) income before income taxes, investment in subsidiary (loss) income and equity in loss of joint ventures | (205.6 | ) | | (78.3 | ) | | 81.1 | | | (60.7 | ) | | (263.5 | ) | |
|
Income tax (benefit) expense | (225.6 | ) | | 204.6 | | | 70 | | | 1.2 | | | 50.2 | | |
|
Income (loss) before investment in subsidiary (loss) income and equity in loss of joint ventures | 20 | | | (282.9 | ) | | 11.1 | | | (61.9 | ) | | (313.7 | ) | |
|
Investment in subsidiary (loss) income | (320.3 | ) | | (191.2 | ) | | — | | | 511.5 | | | — | | |
|
Equity in loss of joint ventures, net of tax | — | | | — | | | 3.8 | | | — | | | 3.8 | | |
|
Net (loss) income | (300.3 | ) | | (474.1 | ) | | 14.9 | | | 449.6 | | | (309.9 | ) | |
|
Net (income) loss attributable to noncontrolling interests | — | | | (0.8 | ) | | 10.4 | | | — | | | 9.6 | | |
|
Net (loss) income attributable to SunEdison stockholders | $ | (300.3 | ) | | $ | (474.9 | ) | | $ | 25.3 | | | $ | 449.6 | | | $ | (300.3 | ) | |
|
Schedule of Condensed Balance Sheet [Table Text Block] | ' |
Unaudited Condensed Consolidating Statement of Operations |
For the Nine Months Ended September 30, 2012 |
(In millions) |
|
| |
| | | | | | | | | | | | | | | | | | | | |
| SunEdison, Inc. | | Guarantor | | Non-Guarantor | | Consolidating | | Total | |
Subsidiaries | Subsidiaries | Adjustments | |
Net sales | $ | 545.1 | | | $ | 705.5 | | | $ | 2,288.70 | | | $ | (1,610.1 | ) | | $ | 1,929.20 | | |
|
Cost of goods sold | 586.2 | | | 741.3 | | | 2,020.00 | | | (1,645.7 | ) | | 1,701.80 | | |
|
Gross profit | (41.1 | ) | | (35.8 | ) | | 268.7 | | | 35.6 | | | 227.4 | | |
|
Operating expenses: | | | | | | | | | | |
Marketing and administration | 87.6 | | | 66.8 | | | 80.8 | | | — | | | 235.2 | | |
|
Research and development | 37.5 | | | 11.3 | | | 7 | | | — | | | 55.8 | | |
|
Restructuring and impairment (reversals) charges | 15.4 | | | 2.9 | | | (71.3 | ) | | — | | | (53.0 | ) | |
|
Operating (loss) income | (181.6 | ) | | (116.8 | ) | | 252.2 | | | 35.6 | | | (10.6 | ) | |
|
Non-operating expense (income): | | | | | | | | | | |
Interest expense | 35.8 | | | 6.1 | | | 58.4 | | | — | | | 100.3 | | |
|
Interest income | (0.1 | ) | | — | | | (2.7 | ) | | — | | | (2.8 | ) | |
|
Other, net | (39.4 | ) | | 17.1 | | | 14.6 | | | 7.8 | | | 0.1 | | |
|
Total non-operating (income) expense | (3.7 | ) | | 23.2 | | | 70.3 | | | 7.8 | | | 97.6 | | |
|
(Loss) income before income taxes, investment in subsidiary (loss) income and equity in loss of joint ventures | (177.9 | ) | | (140.0 | ) | | 181.9 | | | 27.8 | | | (108.2 | ) | |
|
Income tax (benefit) expense | (68.9 | ) | | 60.9 | | | 35.9 | | | — | | | 27.9 | | |
|
(Loss) income before investment in subsidiary (loss) income and equity in loss of joint ventures | (109.0 | ) | | (200.9 | ) | | 146 | | | 27.8 | | | (136.1 | ) | |
|
Investment in subsidiary (loss) income | (29.8 | ) | | 6.9 | | | — | | | 22.9 | | | — | | |
|
Equity in loss of joint ventures, net of tax | — | | | — | | | (0.9 | ) | | — | | | (0.9 | ) | |
|
Net (loss) income | (138.8 | ) | | (194.0 | ) | | 145.1 | | | 50.7 | | | (137.0 | ) | |
|
Net income attributable to noncontrolling interests | — | | | (0.8 | ) | | (1.0 | ) | | — | | | (1.8 | ) | |
|
Net (loss) income attributable to SunEdison stockholders | $ | (138.8 | ) | | $ | (194.8 | ) | | $ | 144.1 | | | $ | 50.7 | | | $ | (138.8 | ) | |
|
Comprehensive Income (Loss) Note [Text Block] | ' |
Comprehensive Loss |
|
Comprehensive income (loss) represents a measure of all changes in equity that result from recognized transactions and other economic events other than transactions with owners in their capacity as owners. Other comprehensive loss includes foreign currency translations, gains (losses) on available-for-sale securities, gains (losses) on hedging instruments and pension adjustments. |
|
The following table presents the changes in each component of accumulated other comprehensive loss, net of tax: |
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| | | | | | | | | | | | | | | | | | | | |
In millions | Foreign Currency Items (1) | | Available-for-sale Securities | | Hedging Activities | | Pension Plans | | Accumulated Other Comprehensive Loss | |
Balance, December 31, 2012 | $ | 32.3 | | | $ | (7.6 | ) | | $ | (4.3 | ) | | $ | (60.2 | ) | | $ | (39.8 | ) | |
|
Other comprehensive (loss) income before reclassifications | (40.9 | ) | | 0.9 | | | (5.4 | ) | | 1.9 | | | (43.5 | ) | |
|
Amounts reclassified from accumulated other comprehensive income | — | | | — | | | (0.4 | ) | | — | | | (0.4 | ) | |
|
Net current-period other comprehensive (loss) income | (40.9 | ) | | 0.9 | | | (5.8 | ) | | 1.9 | | | (43.9 | ) | |
|
Balance, September 30, 2013 | $ | (8.6 | ) | | $ | (6.7 | ) | | $ | (10.1 | ) | | $ | (58.3 | ) | | $ | (83.7 | ) | |
__________________________ |
| | | | | | | | | | | | | | | | | | | | |
(1) | Excludes foreign currency adjustments as it relates to noncontrolling interests. Refer to the condensed consolidated statements of comprehensive loss. | | | | | | | | | | | | | | | | | | | |
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The following table presents the changes in each component of accumulated other comprehensive loss, net of tax, and the affected line in the condensed consolidated statement of operations for reclassifications: |
| | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | |
| Three Months Ended September 30, 2013 | | Nine Months Ended September 30, 2013 | | | | | | | | | | | | | |
In millions | Net of Tax Amount | | Net of Tax Amount | | | | | | | | | | | | | |
Foreign currency translation adjustments | $ | 8.9 | | | $ | (40.9 | ) | | | | | | | | | | | | | |
| | | | | | | | | | | | |
Unrealized gain on available-for-sale securities | 0.8 | | | 0.9 | | | | | | | | | | | | | | |
| | | | | | | | | | | | |
Unrealized gain (loss) on hedging instruments | 9.7 | | | (5.4 | ) | | | | | | | | | | | | | |
| | | | | | | | | | | | |
Loss on settlements of hedging instruments (1) | — | | | (0.4 | ) | | | | | | | | | | | | | |
| | | | | | | | | | | | |
Actuarial gain | 1.9 | | | 1.9 | | | | | | | | | | | | | | |
| | | | | | | | | | | | |
Other comprehensive income (loss) | $ | 21.3 | | | $ | (43.9 | ) | | | | | | | | | | | | | |
| | | | | | | | | | | | |
__________________________ |
| | | | | | | | | | | | | | | | | | | | |
-1 | These other comprehensive loss components are included in interest expense. | | | | | | | | | | | | | | | | | | | |
Unaudited Condensed Consolidating Statement of Comprehensive Loss |
Three Months Ended September 30, 2013 |
(In millions) |
|
| |
| | | | | | | | | | | | | | | | | | | | |
| SunEdison, Inc. | | Guarantor | | Non-Guarantor | | Consolidating | | Total | |
Subsidiaries | Subsidiaries | Adjustments | |
Net (loss) income | $ | (108.0 | ) | | $ | (273.8 | ) | | $ | 87.4 | | | $ | 182.3 | | | $ | (112.1 | ) | |
|
Other comprehensive income (loss), net of tax: | | | | | | | | | | |
Net foreign currency translation adjustment | — | | | — | | | 13.7 | | | — | | | 13.7 | | |
|
Net unrealized gain (loss) on available-for-sale securities | — | | | — | | | 0.8 | | | — | | | 0.8 | | |
|
Unrealized gain on hedging instruments | 0.5 | | | — | | | 9.2 | | | — | | | 9.7 | | |
|
Actuarial gain (loss) and amortization of prior service cost | 1.9 | | | — | | | — | | | — | | | 1.9 | | |
|
Other comprehensive loss, before reclassifications | 2.4 | | | — | | | 23.7 | | | — | | | 26.1 | | |
|
Amounts reclassified out of AOCI(1) | — | | | — | | | — | | | — | | | — | | |
|
Other comprehensive income, net of tax | 2.4 | | | — | | | 23.7 | | | — | | | 26.1 | | |
|
Total comprehensive (loss) income | $ | (105.6 | ) | | $ | (273.8 | ) | | $ | 111.1 | | | $ | 182.3 | | | $ | (86.0 | ) | |
|
Net income attributable to noncontrolling interests | — | | | (0.5 | ) | | 4.6 | | | — | | | 4.1 | | |
|
Net foreign currency translation adjustment attributable to noncontrolling interests | — | | | — | | | (4.8 | ) | | — | | | (4.8 | ) | |
|
Comprehensive (loss) income attributable to SunEdison stockholders | $ | (105.6 | ) | | $ | (274.3 | ) | | $ | 110.9 | | | $ | 182.3 | | | $ | (86.7 | ) | |
|
Unaudited Condensed Consolidating Statement of Comprehensive Loss |
Three Months Ended September 30, 2012 |
(In millions) |
|
| |
| | | | | | | | | | | | | | | | | | | | |
| SunEdison, Inc. | | Guarantor | | Non-Guarantor | | Consolidating | | Total | |
Subsidiaries | Subsidiaries | Adjustments | |
Net income (loss) | $ | 37 | | | $ | 15.6 | | | $ | 105.5 | | | $ | (119.7 | ) | | $ | 38.4 | | |
|
Other comprehensive income (loss), net of tax: | | | | | | | | | | |
Net foreign currency translation adjustment | — | | | — | | | 13.5 | | | — | | | 13.5 | | |
|
Net unrealized loss on available-for-sale securities | — | | | — | | | (2.8 | ) | | — | | | (2.8 | ) | |
|
Unrealized loss on hedging instruments | — | | | — | | | (0.7 | ) | | — | | | (0.7 | ) | |
|
Actuarial gain (loss) and amortization of prior service cost | 0.2 | | | — | | | — | | | — | | | 0.2 | | |
|
Other comprehensive income, net of tax | 0.2 | | | — | | | 10 | | | — | | | 10.2 | | |
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Total comprehensive income (loss) | $ | 37.2 | | | $ | 15.6 | | | $ | 115.5 | | | $ | (119.7 | ) | | $ | 48.6 | | |
|
Net income attributable to noncontrolling interests | — | | | (0.4 | ) | | (1.0 | ) | | — | | | (1.4 | ) | |
|
Net translation adjustment attributable to noncontrolling interests | — | | | — | | | (1.1 | ) | | — | | | (1.1 | ) | |
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Comprehensive income (loss) attributable to SunEdison stockholders | $ | 37.2 | | | $ | 15.2 | | | $ | 113.4 | | | $ | (119.7 | ) | | $ | 46.1 | | |
|
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block] | ' |
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The following table presents the changes in each component of accumulated other comprehensive loss, net of tax, and the affected line in the condensed consolidated statement of operations for reclassifications: |
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| | | | | | | | | | | | | | | | | | | | |
| Three Months Ended September 30, 2013 | | Nine Months Ended September 30, 2013 | | | | | | | | | | | | | |
In millions | Net of Tax Amount | | Net of Tax Amount | | | | | | | | | | | | | |
Foreign currency translation adjustments | $ | 8.9 | | | $ | (40.9 | ) | | | | | | | | | | | | | |
| | | | | | | | | | | | |
Unrealized gain on available-for-sale securities | 0.8 | | | 0.9 | | | | | | | | | | | | | | |
| | | | | | | | | | | | |
Unrealized gain (loss) on hedging instruments | 9.7 | | | (5.4 | ) | | | | | | | | | | | | | |
| | | | | | | | | | | | |
Loss on settlements of hedging instruments (1) | — | | | (0.4 | ) | | | | | | | | | | | | | |
| | | | | | | | | | | | |
Actuarial gain | 1.9 | | | 1.9 | | | | | | | | | | | | | | |
| | | | | | | | | | | | |
Other comprehensive income (loss) | $ | 21.3 | | | $ | (43.9 | ) | | | | | | | | | | | | | |
| | | | | | | | | | | | |
__________________________ |
| | | | | | | | | | | | | | | | | | | | |
-1 | These other comprehensive loss components are included in interest expense. | | | | | | | | | | | | | | | | | | | |
Unaudited Condensed Consolidating Statement of Comprehensive Loss |
Nine Months Ended September 30, 2012 |
(In millions) |
|
| |
| | | | | | | | | | | | | | | | | | | | |
| SunEdison, Inc. | | Guarantor | | Non-Guarantor | | Consolidating | | Total | |
Subsidiaries | Subsidiaries | Adjustments | |
Net (loss) income | $ | (138.8 | ) | | $ | (194.0 | ) | | $ | 145.1 | | | $ | 50.7 | | | $ | (137.0 | ) | |
|
Other comprehensive (loss) income, net of tax: | | | | | | | | | | |
Net foreign currency translation adjustment | — | | | — | | | 2.7 | | | — | | | 2.7 | | |
|
Net unrealized loss on available-for-sale securities | — | | | — | | | (1.5 | ) | | — | | | (1.5 | ) | |
|
Unrealized loss on hedging instruments | — | | | — | | | (0.8 | ) | | — | | | (0.8 | ) | |
|
Actuarial gain (loss) and amortization of prior service cost | 1.6 | | | — | | | (10.5 | ) | | — | | | (8.9 | ) | |
|
Other comprehensive income (loss), net of tax | 1.6 | | | — | | | (10.1 | ) | | — | | | (8.5 | ) | |
|
Total comprehensive (loss) income | $ | (137.2 | ) | | $ | (194.0 | ) | | $ | 135 | | | $ | 50.7 | | | $ | (145.5 | ) | |
|
Net income attributable to noncontrolling interests | — | | | (0.8 | ) | | (1.0 | ) | | — | | | (1.8 | ) | |
|
Net translation adjustment attributable to noncontrolling interests | — | | | — | | | (1.0 | ) | | — | | | (1.0 | ) | |
|
Comprehensive (loss) income attributable to SunEdison stockholders | $ | (137.2 | ) | | $ | (194.8 | ) | | $ | 133 | | | $ | 50.7 | | | $ | (148.3 | ) | |
|
|
|
Unaudited Condensed Consolidating Statement of Comprehensive Loss |
Nine Months Ended September 30, 2013 |
(In millions) |
|
| |
| | | | | | | | | | | | | | | | | | | | |
| SunEdison, Inc. | | Guarantor | | Non-Guarantor | | Consolidating | | Total | |
Subsidiaries | Subsidiaries | Adjustments | |
Net (loss) income | $ | (300.3 | ) | | $ | (474.1 | ) | | $ | 14.9 | | | $ | 449.6 | | | $ | (309.9 | ) | |
|
Other comprehensive (loss) income, net of tax: | | | | | | | | | | |
Net foreign currency translation adjustment | — | | | — | | | (38.7 | ) | | — | | | (38.7 | ) | |
|
Net unrealized gain on available-for-sale securities | — | | | — | | | 0.9 | | | — | | | 0.9 | | |
|
Unrealized gain (loss) on hedging instruments | 0.1 | | | — | | | (5.5 | ) | | — | | | (5.4 | ) | |
|
Actuarial gain (loss) and amortization of prior service cost | 1.9 | | | — | | | — | | | — | | | 1.9 | | |
|
Other comprehensive income (loss), before reclassifications | 2 | | | — | | | (43.3 | ) | | — | | | (41.3 | ) | |
|
Amounts reclassified out of AOCI(1) | — | | | — | | | (0.4 | ) | | — | | | (0.4 | ) | |
|
Other comprehensive income (loss), net of tax | 2 | | | — | | | (43.7 | ) | | — | | | (41.7 | ) | |
|
Total comprehensive (loss) income | $ | (298.3 | ) | | $ | (474.1 | ) | | $ | (28.8 | ) | | $ | 449.6 | | | $ | (351.6 | ) | |
|
Net loss (income) attributable to noncontrolling interests | — | | | (0.8 | ) | | 10.4 | | | — | | | 9.6 | | |
|
Net foreign currency translation adjustment attributable to noncontrolling interests | — | | | — | | | (2.2 | ) | | — | | | (2.2 | ) | |
|
Comprehensive (loss) income attributable to SunEdison stockholders | $ | (298.3 | ) | | $ | (474.9 | ) | | $ | (20.6 | ) | | $ | 449.6 | | | $ | (344.2 | ) | |
|
|
(1) Amounts reclassified out of AOCI relate to settlements of hedging instruments and are recognized in interest expense in the condensed consolidating statement of operations. See Note 10. |
Schedule of Condensed Consolidating Balance Sheet | ' |
Unaudited Condensed Consolidating Balance Sheet |
September 30, 2013 |
(In millions) |
|
| |
| | | | | | | | | | | | | | | | | | | | |
| SunEdison, Inc. | | Guarantor | | Non-Guarantor | | Consolidating | | Total | |
Subsidiaries | Subsidiaries | Adjustments | |
LIABILITIES AND STOCKHOLDERS’ EQUITY | | | | | | | | | | |
Current liabilities: | | | | | | | | | | |
Current portion of long-term debt and short term borrowing | $ | — | | | $ | — | | | $ | 19.7 | | | $ | — | | | $ | 19.7 | | |
|
Short-term solar energy system financing and capital lease obligations | — | | | 0.2 | | | 261.4 | | | — | | | 261.6 | | |
|
Accounts payable | 26.2 | | | 23.2 | | | 618.1 | | | — | | | 667.5 | | |
|
Accrued liabilities | 17.9 | | | 112.6 | | | 278.1 | | | — | | | 408.6 | | |
|
Contingent consideration payable related to acquisitions | — | | | 26.8 | | | — | | | — | | | 26.8 | | |
|
Deferred revenue for solar energy systems | — | | | 27.3 | | | 92.9 | | | — | | | 120.2 | | |
|
Customer and other deposits | 7.6 | | | 0.5 | | | 26.7 | | | — | | | 34.8 | | |
|
Intercompany (receivable) payable and short-term notes | (907.1 | ) | | 989.3 | | | (82.2 | ) | | — | | | — | | |
|
Total current liabilities | (855.4 | ) | | 1,179.90 | | | 1,214.70 | | | — | | | 1,539.20 | | |
|
Long-term debt, less current portion | 746.6 | | | — | | | 9.5 | | | — | | | 756.1 | | |
|
Long-term solar energy system financing and capital lease obligations, less current portion | — | | | 9.7 | | | 2,071.20 | | | — | | | 2,080.90 | | |
|
Customer and other deposits | 156.3 | | | — | | | 9.1 | | | — | | | 165.4 | | |
|
Deferred revenue for solar energy systems | — | | | 30.1 | | | 71.6 | | | — | | | 101.7 | | |
|
Non-solar energy system deferred revenue | — | | | — | | | 3.5 | | | — | | | 3.5 | | |
|
Long-term intercompany notes (receivable) payable | (68.4 | ) | | (94.5 | ) | | 162.9 | | | — | | | — | | |
|
Other liabilities | 35 | | | 10.4 | | | 289.3 | | | — | | | 334.7 | | |
|
Total liabilities | 14.1 | | | 1,135.60 | | | 3,831.80 | | | — | | | 4,981.50 | | |
|
Redeemable noncontrolling interests | — | | | — | | | — | | | — | | | — | | |
|
Total SunEdison stockholders’ equity | 487 | | | (519.5 | ) | | 759.2 | | | (239.7 | ) | | 487 | | |
|
Noncontrolling interests | — | | | 0.6 | | | 95.9 | | | — | | | 96.5 | | |
|
Total stockholders’ equity | 487 | | | (518.9 | ) | | 855.1 | | | (239.7 | ) | | 583.5 | | |
|
Total liabilities and stockholders’ equity | $ | 501.1 | | | $ | 616.7 | | | $ | 4,686.90 | | | $ | (239.7 | ) | | $ | 5,565.00 | | |
|
Unaudited Condensed Consolidating Balance Sheet |
September 30, 2013 |
(In millions) |
|
| |
| | | | | | | | | | | | | | | | | | | | |
| SunEdison, Inc. | | Guarantor | | Non-Guarantor | | Consolidating | | Total | |
Subsidiaries | Subsidiaries | Adjustments | |
ASSETS | | | | | | | | | | |
Current assets: | | | | | | | | | | |
Cash and cash equivalents | $ | 131.5 | | | $ | 99.3 | | | $ | 409.5 | | | $ | — | | | $ | 640.3 | | |
|
Restricted cash | — | | | 1.8 | | | 115.3 | | | — | | | 117.1 | | |
|
Accounts receivable, net | 59.8 | | | 29.8 | | | 245.7 | | | — | | | 335.3 | | |
|
Inventories | 22.8 | | | 22.8 | | | 191.1 | | | (28.9 | ) | | 207.8 | | |
|
Solar energy systems held for development and sale | — | | | — | | | 410.6 | | | (53.9 | ) | | 356.7 | | |
|
Prepaid expenses and other current assets | 29.7 | | | 49.7 | | | 166.7 | | | — | | | 246.1 | | |
|
Total current assets | 243.8 | | | 203.4 | | | 1,538.90 | | | (82.8 | ) | | 1,903.30 | | |
|
Investments in subsidiaries | 110.2 | | | 69.3 | | | — | | | (179.5 | ) | | — | | |
|
Property, plant and equipment, net: | | | | | | | | | | |
Non-solar energy systems, net | 65 | | | 282.7 | | | 853 | | | (48.9 | ) | | 1,151.80 | | |
|
Solar energy systems, net | — | | | 1.2 | | | 1,812.20 | | | 71.5 | | | 1,884.90 | | |
|
Restricted cash | — | | | 1.7 | | | 57.3 | | | — | | | 59 | | |
|
Other assets | 82.1 | | | 58.4 | | | 425.5 | | | — | | | 566 | | |
|
Total assets | $ | 501.1 | | | $ | 616.7 | | | $ | 4,686.90 | | | $ | (239.7 | ) | | $ | 5,565.00 | | |
|
Unaudited Condensed Consolidating Balance Sheet |
December 31, 2012 |
(In millions) |
|
| |
| | | | | | | | | | | | | | | | | | | | |
| SunEdison, Inc. | | Guarantor | | Non-Guarantor | | Consolidating | | Total | |
Subsidiaries | Subsidiaries | Adjustments | |
ASSETS | | | | | | | | | | |
Current assets: | | | | | | | | | | |
Cash and cash equivalents | $ | 65.1 | | | $ | 60 | | | $ | 447.5 | | | $ | — | | | $ | 572.6 | | |
|
Restricted cash | — | | | — | | | 72.4 | | | — | | | 72.4 | | |
|
Accounts receivable, net | 62 | | | 23.7 | | | 134.7 | | | — | | | 220.4 | | |
|
Inventories | 18.4 | | | 70.6 | | | 200 | | | (41.2 | ) | | 247.8 | | |
|
Solar energy systems held for development and sale | — | | | 0.3 | | | 213.7 | | | (80.2 | ) | | 133.8 | | |
|
Prepaid expenses and other current assets | 24.9 | | | 40.1 | | | 147.4 | | | — | | | 212.4 | | |
|
Total current assets | 170.4 | | | 194.7 | | | 1,215.70 | | | (121.4 | ) | | 1,459.40 | | |
|
Investments in subsidiaries | 498.2 | | | 564.2 | | | — | | | (1,062.4 | ) | | — | | |
|
Property, plant and equipment, net: | | | | | | | | | | |
Non-solar energy systems, net | 57.2 | | | 294.4 | | | 913.8 | | | (52.3 | ) | | 1,213.10 | | |
|
Solar energy systems, net | — | | | 3 | | | 1,361.30 | | | 95.6 | | | 1,459.90 | | |
|
Restricted cash | — | | | 1.7 | | | 48.5 | | | — | | | 50.2 | | |
|
Other assets | 36.7 | | | 175.3 | | | 350.7 | | | — | | | 562.7 | | |
|
Total assets | $ | 762.5 | | | $ | 1,233.30 | | | $ | 3,890.00 | | | $ | (1,140.5 | ) | | $ | 4,745.30 | | |
|
|
|
Unaudited Condensed Consolidating Balance Sheet |
December 31, 2012 |
(In millions) |
|
| |
| | | | | | | | | | | | | | | | | | | | |
| SunEdison, Inc. | | Guarantor | | Non-Guarantor | | Consolidating | | Total | |
Subsidiaries | Subsidiaries | Adjustments | |
LIABILITIES AND STOCKHOLDERS’ EQUITY | | | | | | | | | | |
Current liabilities: | | | | | | | | | | |
Current portion of long-term debt and short term borrowing | $ | — | | | $ | — | | | $ | 3.4 | | | $ | — | | | $ | 3.4 | | |
|
Short-term solar energy system financing and capital lease obligations | — | | | 0.2 | | | 97.6 | | | — | | | 97.8 | | |
|
Accounts payable | 11.9 | | | 67 | | | 398.1 | | | — | | | 477 | | |
|
Accrued liabilities | 32.8 | | | 42.5 | | | 267.7 | | | — | | | 343 | | |
|
Contingent consideration payable related to acquisitions | — | | | 23.1 | | | — | | | — | | | 23.1 | | |
|
Deferred revenue for solar energy systems | — | | | 40.7 | | | 72.4 | | | — | | | 113.1 | | |
|
Customer and other deposits | 10.9 | | | 0.4 | | | 65.9 | | | — | | | 77.2 | | |
|
Intercompany (receivable) payable and short-term notes | (651.0 | ) | | 764.3 | | | (113.3 | ) | | — | | | — | | |
|
Total current liabilities | (595.4 | ) | | 938.2 | | | 791.8 | | | — | | | 1,134.60 | | |
|
Long-term debt, less current portion | 746.1 | | | — | | | 12.6 | | | — | | | 758.7 | | |
|
Long-term solar energy system financing and capital lease obligations, less current portion | — | | | 9.8 | | | 1,498.60 | | | — | | | 1,508.40 | | |
|
Customer and other deposits | 87.8 | | | — | | | 96.7 | | | — | | | 184.5 | | |
|
Deferred revenue for solar energy systems | — | | | 45.8 | | | 100.2 | | | — | | | 146 | | |
|
Non-solar energy system deferred revenue | — | | | — | | | 29.2 | | | — | | | 29.2 | | |
|
Long-term intercompany notes (receivable) payable | (45.4 | ) | | (96.2 | ) | | 141.6 | | | — | | | — | | |
|
Other liabilities | (5.9 | ) | | 112 | | | 200.4 | | | — | | | 306.5 | | |
|
Total liabilities | 187.2 | | | 1,009.60 | | | 2,871.10 | | | — | | | 4,067.90 | | |
|
Redeemable noncontrolling interests | — | | | — | | | 11.3 | | | — | | | 11.3 | | |
|
Total SunEdison stockholders’ equity | 575.3 | | | 223.7 | | | 916.8 | | | (1,140.5 | ) | | 575.3 | | |
|
Noncontrolling interests | — | | | — | | | 90.8 | | | — | | | 90.8 | | |
|
Total stockholders’ equity | 575.3 | | | 223.7 | | | 1,007.60 | | | (1,140.5 | ) | | 666.1 | | |
|
Total liabilities and stockholders’ equity | $ | 762.5 | | | $ | 1,233.30 | | | $ | 3,890.00 | | | $ | (1,140.5 | ) | | $ | 4,745.30 | | |
|
Condensed Consolidating Statement of Cash Flows | ' |
Unaudited Condensed Consolidating Statement of Cash Flows |
For the Nine Months Ended September 30, 2012 |
(In millions) |
|
|
| | | | | | | | | | | | | | | | | | | | |
| SunEdison, Inc. | | Guarantor | | Non-Guarantor | | Consolidating | | Total |
Subsidiaries | Subsidiaries | Adjustments |
Cash flows from operating activities: | | | | | | | | | |
Net cash used in operating activities | $ | (100.2 | ) | | $ | 28.9 | | | $ | (152.5 | ) | | $ | (59.6 | ) | | $ | (283.4 | ) |
|
Cash flows from investing activities: | | | | | | | | | |
|
Capital expenditures | (14.7 | ) | | (16.3 | ) | | (69.3 | ) | | — | | | (100.3 | ) |
|
Construction of solar energy systems | — | | | — | | | (243.3 | ) | | 50.1 | | | (193.2 | ) |
|
Purchases of cost and equity method investments | (3.8 | ) | | — | | | (31.4 | ) | | — | | | (35.2 | ) |
|
Net proceeds from (used in) equity method investments | 7.2 | | | — | | | (4.2 | ) | | — | | | 3 | |
|
Change in restricted cash | — | | | (2.1 | ) | | 0.8 | | | — | | | (1.3 | ) |
|
Equity infusions or investments in subsidiaries | (44.0 | ) | | | (6.7 | ) | | 50.7 | | | — | | | — | |
|
Receipts to vendors for deposits and loans | — | | | — | | | 4.8 | | | — | | | 4.8 | |
|
Other | 1.9 | | | — | | | (11.5 | ) | | 9.5 | | | (0.1 | ) |
|
Net cash used in investing activities | (53.4 | ) | | (25.1 | ) | | (303.4 | ) | | 59.6 | | | (322.3 | ) |
|
| | | | | | | | | |
Cash flows from financing activities: | | | | | | | | | |
Cash paid for contingent consideration for acquisitions | — | | | (3.8 | ) | | (54.2 | ) | | — | | | (58.0 | ) |
|
Proceeds from solar energy system financing and capital lease obligations | — | | | 8.4 | | | 711.9 | | | — | | | 720.3 | |
|
Repayments of solar energy system financing and capital lease obligations | — | | | (0.5 | ) | | (183.5 | ) | | — | | | (184.0 | ) |
|
Net repayments of customer deposits related to long-term supply agreements | — | | | — | | | (23.6 | ) | | — | | | (23.6 | ) |
|
Principal payments on long term debt | — | | | — | | | (1.8 | ) | | — | | | (1.8 | ) |
|
(Repayment) collection of intercompany debt | (33.8 | ) | — | | 9.5 | | | 24.3 | | | — | | | — | |
|
Common stock issued and repurchased | (0.1 | ) | | — | | | — | | | — | | | (0.1 | ) |
|
Second lien term loans | 196 | | | — | | | — | | | — | | | 196 | |
|
Proceeds from noncontrolling interests | — | | | — | | | 16.4 | | | — | | | 16.4 | |
|
Debt financing fees | (12.7 | ) | | — | | | (22.5 | ) | | — | | | (35.2 | ) |
|
Net cash provided by financing activities | 149.4 | | | 13.6 | | | 467 | | | — | | | 630 | |
|
Effect of exchange rate changes on cash and cash equivalents | (0.2 | ) | | — | | | (0.1 | ) | | — | | | (0.3 | ) |
|
Net (decrease) increase in cash and cash equivalents | (4.4 | ) | | 17.4 | | | 11 | | | — | | | 24 | |
|
Cash and cash equivalents at beginning of period | 228.9 | | | 58.3 | | | 298.6 | | | — | | | 585.8 | |
|
Cash and cash equivalents at end of period | 224.5 | | | 75.7 | | | 309.6 | | | — | | | $ | 609.8 | |
|
Unaudited Condensed Consolidating Statement of Cash Flows |
For the Nine Months Ended September 30, 2013 |
(In millions) |
| |
| | | | | | | | | | | | | | | | | | | | |
| SunEdison, Inc. | | Guarantor | | Non-Guarantor | | Consolidating | | Total | |
Subsidiaries | Subsidiaries | Adjustments | |
Cash flows from operating activities: | | | | | | | | | | |
Net cash (used in) provided by operating activities | $ | (48.6 | ) | | $ | 5.5 | | | $ | (431.7 | ) | | $ | 167.2 | | | $ | (307.6 | ) | |
|
Cash flows from investing activities: | | | | | | | | | | |
Capital expenditures | (11.4 | ) | | (8.2 | ) | | (81.6 | ) | | — | | | (101.2 | ) | |
|
Construction of solar energy systems | — | | | — | | | (97.1 | ) | | (164.2 | ) | | (261.3 | ) | |
|
Purchases of cost and equity method investments | — | | | (1.5 | ) | | (45.1 | ) | | — | | | (46.6 | ) | |
|
Net proceeds from equity method investments | 68.5 | | | — | | | (0.1 | ) | | — | | | 68.4 | | |
|
Change in restricted cash | — | | | (0.5 | ) | | (16.3 | ) | | — | | | (16.8 | ) | |
|
Cash paid for acquisition, net of cash acquired | — | | | — | | | (7.3 | ) | | — | | | (7.3 | ) | |
|
Receipts from vendors for deposits | — | | | — | | | 0.6 | | | — | | | 0.6 | | |
|
Equity infusions or investments in subsidiaries | (66.8 | ) | | (24.2 | ) | | 91 | | | — | | | — | | |
|
Other | 0.7 | | | (1.3 | ) | | 8.5 | | | (3.0 | ) | | 4.9 | | |
|
Net cash used in investing activities | (9.0 | ) | | (35.7 | ) | | (147.4 | ) | | (167.2 | ) | | (359.3 | ) | |
Cash flows from financing activities: | | | | | | | | | | |
Cash paid for contingent consideration for acquisitions | — | | | (0.8 | ) | | — | | | — | | | (0.8 | ) | |
|
Proceeds from solar energy system financing and capital lease obligations | — | | | — | | | 626.4 | | | — | | | 626.4 | | |
|
Repayments of solar energy system financing and capital lease obligations | — | | | (0.1 | ) | | (64.3 | ) | | — | | | (64.4 | ) | |
|
Net repayments of customer deposits related to long-term supply agreements | — | | | — | | | (51.7 | ) | | — | | | (51.7 | ) | |
|
Principal payments on long term debt | — | | | — | | | (1.4 | ) | | — | | | (1.4 | ) | |
|
Common stock issued and repurchased | 239.6 | | | — | | | — | | | — | | | 239.6 | | |
|
Proceeds from noncontrolling interests | — | | | — | | | 25.9 | | | — | | | 25.9 | | |
|
(Repayment) collection of intercompany debt | (115.0 | ) | | 70.4 | | | 44.6 | | | — | | | — | | |
|
Debt financing fees | — | | | — | | | (25.6 | ) | | — | | | (25.6 | ) | |
|
Other | (0.6 | ) | | — | | | (0.8 | ) | | — | | | (1.4 | ) | |
|
Net cash provided by financing activities | 124 | | | 69.5 | | | 553.1 | | | — | | | 746.6 | | |
|
Effect of exchange rate changes on cash and cash equivalents | — | | | — | | | (12.0 | ) | | — | | | (12.0 | ) | |
|
Net increase (decrease) in cash and cash equivalents | 66.4 | | | 39.3 | | | (38.0 | ) | | — | | | 67.7 | | |
|
Cash and cash equivalents at beginning of period | 65.1 | | | 60 | | | 447.5 | | | — | | | 572.6 | | |
|
Cash and cash equivalents at end of period | $ | 131.5 | | | $ | 99.3 | | | $ | 409.5 | | | $ | — | | | $ | 640.3 | | |
|
| | | | | | | | | | | | | | | | | | | | | |