CAFD definition
CAFD means, for any Measurement Period and without duplication, Distributed Cash received by the Borrower minus cash expenses of the Borrower (other than Debt Service Obligations and transaction costs), in each case during such Measurement Period.
CAFD means net cash provided by (used in) operating activities of the Company (i) plus or minus changes in assets and liabilities as reflected (or to be reflected) on Global, Inc.’s statements of cash flows, (ii) minus deposits into (or plus withdrawals from) restricted cash accounts required by project financing arrangements to the extent they decrease (or increase) cash provided by operating activities, (iii) minus cash distributions paid to non-controlling interests in the Company’s projects, if any, (iv) minus scheduled project-level and other debt service payments and repayments in accordance with the related borrowing arrangements, to the extent they are paid from operating cash flows during a period, (v) minus non-expansionary capital expenditures, if any, to the extent they are paid from operating cash flows during a period, (vi) plus cash contributions from SunEdison pursuant to the Interest Payment Agreement, (vii) plus operating costs and expenses paid by SunEdison pursuant to the Management Services Agreement to the extent such costs or expenses exceed the fee payable by the Company pursuant to such agreement but otherwise reduce the Company’s net cash provided by operating activities and (viii) plus or minus operating items as necessary to present the cash flows the Company deems representative of its core business operations, with the approval of the audit committee of Global, Inc.
CAFD means, on a consolidated basis in accordance with GAAP, net cash provided by (used in) operating activities of Holdings, adjusted as follows (without duplication of any increase, decrease, exclusion or other amount): (i) plus or minus changes in assets and liabilities as reflected (or to be reflected) on Holdings’ statement of cash flows, (ii) minus deposits into (or plus withdrawals from) restricted cash accounts required by project financing arrangements to the extent they decrease (or increase) cash provided by operating activities, (iii) minus cash distributions paid to non-controlling interests in Holdings’ projects, if any, (iv) minus scheduled project-level and other debt service payments and repayments in accordance with the related borrowing arrangements, to the extent they are paid from operating cash flows during a period, (v) minus non-expansionary capital expenditures, if any, to the extent they are paid from operating cash flows during a period, (vi) plus cash contributions to the Borrower from SunEdison pursuant to the Interest Payment Agreement, (vii) plus operating costs and expenses paid by SunEdison pursuant to the Management Services Agreement to the extent such costs or expenses exceed the fee payable by Holdings pursuant to such agreement but otherwise reduce Holdings’ net cash provided by operating activities and (viii) plus or minus any other operating items as necessary to present the cash flows Holdings deems representative of its core business operations, with the approval of the audit committee of Holdings; provided that any CAFD attributable to the operations of Unrestricted Subsidiaries will only be included in the foregoing calculation to the extent of any cash dividends or other cash distributions received by Holdings or any of its Restricted Subsidiaries during the period for which CAFD is being calculated (or, without duplication, subsequent to such period but on or prior to the applicable date of determination). Notwithstanding the foregoing, CAFD (w) for the Fiscal Quarter ended June 30, 2014 shall be deemed to be $53.0 million, (x) for the Fiscal Quarter ended September 30, 2014 shall be deemed to be $58.5 million, (y) for the Fiscal Quarter ended December 31, 2014 shall be deemed to be $35.7 million and (z) for each of the Fiscal Quarters ending March 31, 2015 and June 30, 2015, will be deemed to be CAFD for such Fiscal Quarter as determined in accordance with this definition plus $2.0 million.
Examples of CAFD in a sentence
Budget modifications must not be implemented prior to approval by CAFD.
One of the primary objectives of the Corporation is to provide reliable and stable cash flows, and presenting AFFO and CAFD assists readers in assessing our cash flows in comparison to prior periods.
We believe CAFD is useful to investors in evaluating our operating performance because securities analysts and other interested parties use such calculations as a measure of our ability to make quarterly distributions.
However, CAFD has limitations as an analytical tool because it does not include changes in operating assets and liabilities and excludes the effect of certain other cash flow items, all of which could have a material effect on our financial condition and results from operations.
The GAAP measure most directly comparable to CAFD is cash provided by operating activities.
More Definitions of CAFD
CAFD means, for any Testing Period, and without duplication, Distributed Cash minus cash expenses of the Company (other than debt service obligations and transaction costs), in each case during such Testing Period.
CAFD means net cash provided by (used in) operating activities with respect to a particular project pertaining to a Call Right Asset, calculated in accordance with generally accepted accounting principles in the United States (i) plus or minus changes in assets and liabilities as reflected (or to be reflected) on Terra’s statements of cash flows, (ii) minus deposits into (or plus withdrawals from) restricted cash accounts required by project financing arrangements to the extent they decrease (or increase) cash provided by operating activities, (iii) minus cash distributions paid to non-controlling interests, if any, (iv) minus scheduled project-level and other debt service payments and repayments in accordance with the related borrowing arrangements, to the extent they are paid from operating cash flows during a period, (v) minus non-expansionary capital expenditures, if any, to the extent they are paid from operating cash flows during a period and (vi) plus or minus operating items as necessary to present the cash flows Xxxxx xxxxx representative of its core business operations with respect to the relevant Call Right Asset, with the approval of Terra’s audit committee.
CAFD or “Cash Available for Distributions Per Share” means Adjusted EBIDTA less cash interest expense, maintenance capital expenditures, and cash income taxes paid at the end of the applicable Performance Period; divided by the number of outstanding Shares at the end of the applicable Performance Period.
CAFD means, on a consolidated basis in accordance with GAAP, net cash provided by (used in) operating activities of the Company, adjusted as follows (without duplication of any increase, decrease, exclusion or other amount): (i) minus deposits into (or plus withdrawals from) restricted cash accounts required by project financing arrangements to the extent they decrease (or increase) cash provided by operating activities, (ii) minus cash distributions paid to non-controlling interests in the Company’s projects, if any, (iii) minus scheduled project-level and other project-level debt service payments and repayments in accordance with the related borrowing arrangements, to the extent they are paid from operating cash flows during a period, (iv) minus non-expansionary capital expenditures, if any, to the extent they are paid from operating cash flows during a period, (v) plus cash distributions received from unconsolidated investments, to the extent such distributions were derived from operating cash flows and (vi) plus or minus any other operating items necessary to present the cash flows the Company deems representative of its core business operations, with the approval of the audit committee of the Company.
CAFD means, for any period, (a) all cash distributions received by the Company from its Subsidiaries during such period, minus (b) all cash expenses of the Company, including debt service and general and administrative expenses, due and/or payable by the Company during such period.
CAFD or “cash available for distribution” means the cash generated by a Project that remains and is available for distribution at the end of any given period that begins at the date of transfer of such Project to EMYC, after payment of all recurring expenses for the Project on an unleveraged basis.
CAFD means Cash Available for Dividends.