v3.24.2.u1
Condensed Consolidated Statements of Cash Flows (unaudited) - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Cash flows from operating activities    
Net income $ 37,204 $ 7,215
Adjustments to reconcile net income to net cash from operating activities:    
Depreciation, amortization and accretion 33,296 24,335
Non-cash lease transactions (2,289) 499
Deferred tax expense (16,143) 2,011
Amortization of debt discount and financing costs 2,458 1,683
Change in fair value of Alignment Shares liability (37,958) (19,823)
Remeasurement of contingent consideration, net (1,479) 100
Gain on disposal of property, plant and equipment (88) 0
Reclassification of realized gain on cash flow hedge to net income (837) 0
Stock-based compensation (benefit) expense (116) 7,069
Other (1,457) 1,350
Changes in assets and liabilities, excluding the effect of acquisitions    
Accounts receivable (13,163) (9,597)
Due to related parties 16 41
Derivative assets (2,435) 2,676
Other assets (2,683) 1,607
Accounts payable 358 2,924
Interest payable 6,448 3,037
Contract liability 268 243
Other liabilities (2,478) 121
Net cash (used for) provided by operating activities (1,078) 25,491
Cash flows used for investing activities    
Capital expenditures (40,497) (61,982)
Payments to acquire renewable energy businesses, net of cash and restricted cash acquired (119,444) (288,903)
Payments to acquire renewable energy facilities from third parties, net of cash and restricted cash acquired (6,533) (22,433)
Proceeds from disposal of property, plant and equipment 266 0
Net cash used for investing activities (166,208) (373,318)
Cash flows used for financing activities    
Proceeds from issuance of long-term debt 131,895 269,850
Repayment of long-term debt (81,677) (31,068)
Payment of debt issuance costs (1,231) (2,548)
Payment of deferred purchase price payable (3,860) (4,531)
Payment of contingent consideration (5,793) 0
Contributions from noncontrolling interests 4,103 6,274
Redemption of redeemable noncontrolling interests 0 (3,224)
Distributions to noncontrolling interests (2,800) (2,189)
Net cash provided by financing activities 40,637 232,564
Net decrease in cash, cash equivalents, and restricted cash (126,649) (115,263)
Cash, cash equivalents, and restricted cash, beginning of period 218,927 199,398
Cash, cash equivalents, and restricted cash, end of period 92,278 84,135
Supplemental cash flow disclosure    
Cash paid for interest 28,387 15,299
Cash paid for taxes 26 0
Non-cash investing and financing activities    
Asset retirement obligations 1,391 3,943
Debt assumed through acquisitions 0 7,883
Noncontrolling interest assumed through acquisitions 2,100 13,500
Redeemable noncontrolling interest assumed through acquisitions 0 8,100
Accrued distributions to noncontrolling interests 661 0
Acquisitions of property and equipment included in construction payable 0 6,125
Conversion of Alignment Shares into common stock 10 11
Deferred purchase price payable $ 0 $ 7,606