| Summary of Change in Accounting Principle |
The following financial statement line items for the periods noted were affected by the change in accounting principle.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Balance Sheet Line Items Impacted by Change: |
|
|
|
|
|
|
September 30, 2026 |
|
Prior Method |
|
Effect of Change |
|
New Method |
Energy assets, net |
$ |
2,332,547 |
|
|
$ |
235,145 |
|
|
$ |
2,567,692 |
|
Deferred income tax assets, net |
127,545 |
|
|
(70,761) |
|
|
56,784 |
|
Subtotal - assets |
$ |
2,460,092 |
|
|
$ |
164,384 |
|
|
$ |
2,624,476 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Additional paid-in capital |
381,921 |
|
|
(17,635) |
|
|
364,286 |
|
Retained earnings |
738,762 |
|
|
164,802 |
|
|
903,564 |
|
Non-controlling interests |
381,698 |
|
|
17,217 |
|
|
398,915 |
|
Subtotal - equity |
$ |
1,502,381 |
|
|
$ |
164,384 |
|
|
$ |
1,666,765 |
|
|
|
|
|
|
|
|
June 30, 2026 |
|
As Revised (1)
|
|
Effect of Change |
|
As Adjusted |
Energy assets, net |
$ |
2,236,328 |
|
|
$ |
237,972 |
|
|
$ |
2,474,300 |
|
Deferred income tax assets, net |
97,576 |
|
|
(54,792) |
|
|
42,784 |
|
Subtotal - assets |
$ |
2,333,904 |
|
|
$ |
183,180 |
|
|
$ |
2,517,084 |
|
Additional paid-in capital (1)
|
383,218 |
|
|
(17,636) |
|
|
365,582 |
|
Retained earnings |
688,126 |
|
|
183,557 |
|
|
871,683 |
|
Non-controlling interest (1)
|
296,120 |
|
|
17,259 |
|
|
313,379 |
|
Subtotal - equity |
$ |
1,367,464 |
|
|
$ |
183,180 |
|
|
$ |
1,550,644 |
|
|
(1) See Note 2 for correction of an error.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
March 31, 2026 |
|
Originally Reported |
|
Effect of Change |
|
As Adjusted |
Prepaid expenses and other current assets |
$ |
236,403 |
|
|
$ |
20,823 |
|
|
$ |
257,226 |
|
Energy assets, net |
2,155,837 |
|
|
217,373 |
|
|
2,373,210 |
|
Deferred income tax assets, net |
99,338 |
|
|
(52,533) |
|
|
46,805 |
|
Subtotal - assets |
$ |
2,491,578 |
|
|
$ |
185,663 |
|
|
$ |
2,677,241 |
|
Retained earnings |
678,408 |
|
|
185,977 |
|
|
864,385 |
|
Non-controlling interests |
45,381 |
|
|
(314) |
|
|
45,067 |
|
Subtotal - equity |
$ |
723,789 |
|
|
$ |
185,663 |
|
|
$ |
909,452 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
December 31, 2025 |
|
Originally Reported |
|
Effect of Change |
|
As Adjusted |
Prepaid expenses and other current assets |
$ |
239,865 |
|
|
$ |
20,823 |
|
|
$ |
260,688 |
|
Energy assets, net |
2,081,224 |
|
|
220,200 |
|
|
2,301,424 |
|
Deferred income tax assets, net |
96,868 |
|
|
(53,287) |
|
|
43,581 |
|
Subtotal - assets |
$ |
2,417,957 |
|
|
$ |
187,736 |
|
|
$ |
2,605,693 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Retained earnings |
696,737 |
|
|
187,987 |
|
|
884,724 |
|
Non-controlling interests |
42,666 |
|
|
(251) |
|
|
42,415 |
|
Subtotal - equity |
$ |
739,403 |
|
|
$ |
187,736 |
|
|
$ |
927,139 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Statements of Operations Line Items Impacted by Change: |
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended September 30, |
|
Nine Months Ended September 30, |
|
|
|
|
|
|
|
2026 |
|
2026 |
|
|
|
|
|
|
|
Prior Method |
|
Effect of Change |
|
New Method |
|
Prior Method |
|
Effect of Change |
|
New Method |
|
|
|
|
|
|
Cost of revenues |
$ |
468,883 |
|
|
$ |
2,827 |
|
|
$ |
471,710 |
|
|
$ |
1,238,036 |
|
|
$ |
8,481 |
|
|
$ |
1,246,517 |
|
|
|
|
|
|
|
Income tax benefit |
(28,224) |
|
|
15,969 |
|
|
(12,255) |
|
|
(31,271) |
|
|
14,871 |
|
|
(16,400) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income |
$ |
65,598 |
|
|
$ |
(18,796) |
|
|
$ |
46,802 |
|
|
$ |
71,122 |
|
|
$ |
(23,352) |
|
|
$ |
47,770 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net (income) loss attributable to non-controlling interests and redeemable non-controlling interests |
(14,962) |
|
|
41 |
|
|
(14,921) |
|
|
(29,050) |
|
|
166 |
|
|
(28,884) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income attributable to common shareholders |
$ |
50,636 |
|
|
$ |
(18,755) |
|
|
$ |
31,881 |
|
|
$ |
42,072 |
|
|
$ |
(23,186) |
|
|
$ |
18,886 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income per share attributable to common shareholders: |
|
|
|
|
|
|
Basic |
$ |
0.95 |
|
|
$ |
(0.35) |
|
|
$ |
0.60 |
|
|
$ |
0.80 |
|
|
$ |
(0.44) |
|
|
$ |
0.36 |
|
|
|
|
|
|
|
Diluted |
$ |
0.94 |
|
|
$ |
(0.35) |
|
|
$ |
0.59 |
|
|
$ |
0.79 |
|
|
$ |
(0.44) |
|
|
$ |
0.35 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended September 30, |
|
Nine Months Ended September 30, |
|
2025 |
|
2025 |
|
Originally Reported |
|
Effect of Change |
|
As Adjusted |
|
Originally Reported |
|
Effect of Change |
|
As Adjusted |
Cost of revenues |
$ |
441,658 |
|
|
$ |
2,029 |
|
|
$ |
443,687 |
|
|
$ |
1,141,494 |
|
|
$ |
6,088 |
|
|
$ |
1,147,582 |
|
Income tax benefit |
(3,678) |
|
|
(57,472) |
|
|
(61,150) |
|
|
(5,390) |
|
|
(72,688) |
|
|
(78,078) |
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income |
$ |
21,840 |
|
|
$ |
55,444 |
|
|
$ |
77,284 |
|
|
$ |
31,753 |
|
|
$ |
66,600 |
|
|
$ |
98,353 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Net (income) loss attributable to non-controlling interests and redeemable non-controlling interests |
(3,308) |
|
|
63 |
|
|
(3,245) |
|
|
(5,839) |
|
|
189 |
|
|
(5,650) |
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income attributable to common shareholders |
$ |
18,532 |
|
|
$ |
55,507 |
|
|
$ |
74,039 |
|
|
$ |
25,914 |
|
|
$ |
66,789 |
|
|
$ |
92,703 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income per share attributable to common shareholders: |
Basic |
$ |
0.35 |
|
|
$ |
1.05 |
|
|
$ |
1.40 |
|
|
$ |
0.49 |
|
|
$ |
1.27 |
|
|
$ |
1.76 |
|
Diluted |
$ |
0.35 |
|
|
$ |
1.04 |
|
|
$ |
1.39 |
|
|
$ |
0.49 |
|
|
$ |
1.25 |
|
|
$ |
1.74 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended June 30, |
|
2026 |
|
2025 |
|
Originally Reported |
|
Effect of Change |
|
As Adjusted |
|
Originally Reported |
|
Effect of Change |
|
As Adjusted |
Cost of revenues |
$ |
424,157 |
|
|
$ |
2,827 |
|
|
$ |
426,984 |
|
|
$ |
398,926 |
|
|
$ |
2,029 |
|
|
$ |
400,955 |
|
Income tax provision (benefit) |
137 |
|
|
(343) |
|
|
(206) |
|
|
(2,900) |
|
|
(39,293) |
|
|
(42,193) |
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income (loss) |
$ |
19,907 |
|
|
$ |
(2,484) |
|
|
$ |
17,423 |
|
|
$ |
15,518 |
|
|
$ |
37,264 |
|
|
$ |
52,782 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Net (income) loss attributable to non-controlling interests and redeemable non-controlling interests |
(10,189) |
|
|
63 |
|
|
(10,126) |
|
|
(2,654) |
|
|
63 |
|
|
(2,591) |
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income (loss) attributable to common shareholders |
$ |
9,718 |
|
|
$ |
(2,421) |
|
|
$ |
7,297 |
|
|
$ |
12,864 |
|
|
$ |
37,327 |
|
|
$ |
50,191 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income (loss) per share attributable to common shareholders: |
Basic |
$ |
0.18 |
|
|
$ |
(0.04) |
|
|
$ |
0.14 |
|
|
$ |
0.24 |
|
|
$ |
0.71 |
|
|
$ |
0.95 |
|
Diluted |
$ |
0.18 |
|
|
$ |
(0.04) |
|
|
$ |
0.14 |
|
|
$ |
0.24 |
|
|
$ |
0.71 |
|
|
$ |
0.95 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Six Months Ended June 30, |
|
2026 |
|
2025 |
|
Originally Reported |
|
Effect of Change |
|
As Adjusted |
|
Originally Reported |
|
Effect of Change |
|
As Adjusted |
Cost of revenues |
$ |
769,153 |
|
|
$ |
5,654 |
|
|
$ |
774,807 |
|
|
$ |
699,836 |
|
|
$ |
4,059 |
|
|
$ |
703,895 |
|
Income tax benefit |
(3,047) |
|
|
(1,098) |
|
|
(4,145) |
|
|
(1,712) |
|
|
(15,216) |
|
|
(16,928) |
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income (loss) |
$ |
5,524 |
|
|
$ |
(4,556) |
|
|
$ |
968 |
|
|
$ |
9,912 |
|
|
$ |
11,157 |
|
|
$ |
21,069 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Net (income) loss attributable to non-controlling interests and redeemable non-controlling interests |
(14,089) |
|
|
126 |
|
|
(13,963) |
|
|
(2,531) |
|
|
126 |
|
|
(2,405) |
|
|
|
|
|
|
|
|
|
|
|
|
|
Net (loss) income attributable to common shareholders |
$ |
(8,565) |
|
|
$ |
(4,430) |
|
|
$ |
(12,995) |
|
|
$ |
7,381 |
|
|
$ |
11,283 |
|
|
$ |
18,664 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Net (loss) income per share attributable to common shareholders: |
Basic |
$ |
(0.16) |
|
|
$ |
(0.08) |
|
|
$ |
(0.24) |
|
|
$ |
0.14 |
|
|
$ |
0.21 |
|
|
$ |
0.35 |
|
Diluted |
$ |
(0.16) |
|
|
$ |
(0.08) |
|
|
$ |
(0.24) |
|
|
$ |
0.14 |
|
|
$ |
0.21 |
|
|
$ |
0.35 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended March 31, |
|
2026 |
|
2025 |
|
Originally Reported |
|
Effect of Change |
|
As Adjusted |
|
Originally Reported |
|
Effect of Change |
|
As Adjusted |
Cost of revenues |
$ |
344,996 |
|
|
$ |
2,827 |
|
|
$ |
347,823 |
|
|
$ |
300,910 |
|
|
$ |
2,029 |
|
|
$ |
302,939 |
|
Income tax (benefit) provision |
(3,184) |
|
|
(755) |
|
|
(3,939) |
|
|
1,188 |
|
|
24,077 |
|
|
25,265 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Net (loss) income |
$ |
(14,383) |
|
|
$ |
(2,072) |
|
|
$ |
(16,455) |
|
|
$ |
(5,606) |
|
|
$ |
(26,106) |
|
|
$ |
(31,712) |
|
|
|
|
|
|
|
|
|
|
|
|
|
Net (income) loss attributable to non-controlling interests and redeemable non-controlling interests |
(3,900) |
|
|
63 |
|
|
(3,837) |
|
|
123 |
|
|
63 |
|
|
186 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Net (loss) income attributable to common shareholders |
$ |
(18,283) |
|
|
$ |
(2,009) |
|
|
$ |
(20,292) |
|
|
$ |
(5,483) |
|
|
$ |
(26,043) |
|
|
$ |
(31,526) |
|
|
|
|
|
|
|
|
|
|
|
|
|
Net (loss) income per share attributable to common shareholders: |
Basic |
$ |
(0.35) |
|
|
$ |
(0.04) |
|
|
$ |
(0.39) |
|
|
$ |
(0.10) |
|
|
$ |
(0.50) |
|
|
$ |
(0.60) |
|
Diluted |
$ |
(0.35) |
|
|
$ |
(0.04) |
|
|
$ |
(0.39) |
|
|
$ |
(0.10) |
|
|
$ |
(0.50) |
|
|
$ |
(0.60) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Supplemental Information: Three Months and Year Ended 2025 Statements of Operations Line Items Impacted by Change |
|
Three Months Ended December 31, 2025 (1)
|
|
Year Ended December 31, 2025 |
|
Originally Recognized |
|
Effect of Change |
|
As Adjusted |
|
Originally Reported |
|
Effect of Change |
|
As Adjusted |
Cost of revenues |
$ |
486,619 |
|
|
$ |
2,666 |
|
|
$ |
489,285 |
|
|
$ |
1,628,113 |
|
|
$ |
8,753 |
|
|
$ |
1,636,866 |
|
Income tax benefit |
(6,310) |
|
|
(65,177) |
|
|
(71,487) |
|
|
(11,700) |
|
|
(137,865) |
|
|
(149,565) |
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income |
$ |
24,922 |
|
|
$ |
62,511 |
|
|
$ |
87,433 |
|
|
$ |
56,675 |
|
|
$ |
129,112 |
|
|
$ |
185,787 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Net (income) loss attributable to non-controlling interests and redeemable non-controlling interests |
(6,552) |
|
|
63 |
|
|
(6,489) |
|
|
(12,391) |
|
|
251 |
|
|
(12,140) |
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income attributable to common shareholders |
$ |
18,370 |
|
|
$ |
62,574 |
|
|
$ |
80,944 |
|
|
$ |
44,284 |
|
|
$ |
129,363 |
|
|
$ |
173,647 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income per share attributable to common shareholders: |
Basic |
$ |
0.35 |
|
|
$ |
1.15 |
|
|
$ |
1.50 |
|
|
$ |
0.84 |
|
|
$ |
2.40 |
|
|
$ |
3.24 |
|
Diluted |
$ |
0.34 |
|
|
$ |
1.17 |
|
|
$ |
1.51 |
|
|
$ |
0.83 |
|
|
$ |
2.40 |
|
|
$ |
3.23 |
|
|
|
|
|
|
|
|
|
|
|
|
|
(1) The information for the three months ended December 31, 2025 has been derived from the Company's annual financial information and previously reported quarterly information and has been adjusted to reflect the application of the accounting change.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Statements of Cash Flows Line Items Impacted by Change: |
|
Nine Months Ended September 30, 2026 |
|
Prior Method |
|
Effect of Change |
|
New Method |
Net income |
$ |
71,122 |
|
|
$ |
(23,352) |
|
|
$ |
47,770 |
|
|
|
|
|
|
|
Adjustments to reconcile net loss to net cash flows from operating activities: |
|
|
|
|
|
Depreciation of energy assets, net |
79,326 |
|
|
8,481 |
|
|
87,807 |
|
Deferred income taxes, net |
(31,565) |
|
|
14,871 |
|
|
(16,694) |
|
|
|
|
|
|
|
Changes in operating assets and liabilities: |
|
|
|
|
|
Proceeds from sale of investment tax credits |
(412) |
|
|
20,823 |
|
|
20,411 |
|
|
|
|
|
|
|
Operating cash flows |
(81,074) |
|
|
20,823 |
|
|
(60,251) |
|
|
|
|
|
|
|
Cash flows from investing activities: |
|
|
|
|
|
Proceeds from sale of investment tax credits |
$ |
20,823 |
|
|
$ |
(20,823) |
|
|
$ |
— |
|
|
|
|
|
|
|
Net change in cash |
$ |
54,394 |
|
|
$ |
— |
|
|
$ |
54,394 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Statements of Cash Flows Line Items Impacted by Change: |
|
Nine Months Ended September 30, 2025 |
|
Originally Reported |
|
Effect of Change |
|
As Adjusted |
Net income |
$ |
31,753 |
|
|
$ |
66,600 |
|
|
$ |
98,353 |
|
|
|
|
|
|
|
Adjustments to reconcile net loss to net cash flows from operating activities: |
|
|
|
|
|
Depreciation of energy assets, net |
72,925 |
|
|
6,088 |
|
|
79,013 |
|
Deferred income taxes, net |
(7,808) |
|
|
(72,688) |
|
|
(80,496) |
|
|
|
|
|
|
|
Changes in operating assets and liabilities: |
|
|
|
|
|
Proceeds from sale of investment tax credits |
— |
|
|
70,788 |
|
|
70,788 |
|
|
|
|
|
|
|
Operating cash flows |
(37,465) |
|
|
70,788 |
|
|
33,323 |
|
|
|
|
|
|
|
Cash flows from investing activities: |
|
|
|
|
|
Proceeds from sale of investment tax credits |
$ |
70,788 |
|
|
$ |
(70,788) |
|
|
$ |
— |
|
|
|
|
|
|
|
Net change in cash |
$ |
17,218 |
|
|
$ |
— |
|
|
$ |
17,218 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Statements of Cash Flows Line Items Impacted by Change: |
|
|
|
|
|
Six Months Ended June 30, 2026 |
|
|
|
|
|
Prior Method |
|
Effect of Change |
|
As Adjusted |
|
|
|
|
Net income |
$ |
5,524 |
|
|
$ |
(4,556) |
|
|
$ |
968 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Adjustments to reconcile net loss to net cash flows from operating activities: |
|
|
|
|
|
|
|
|
|
Depreciation of energy assets, net |
57,251 |
|
|
5,654 |
|
|
62,905 |
|
|
|
|
|
Deferred income taxes, net |
(2,486) |
|
|
(1,098) |
|
|
(3,584) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Changes in operating assets and liabilities: |
|
|
|
|
|
|
|
|
|
Proceeds from sale of investment tax credits |
— |
|
|
20,411 |
|
|
20,411 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating cash flows |
$ |
(71,813) |
|
|
$ |
20,411 |
|
|
$ |
(51,402) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash flows from investing activities: |
|
|
|
|
|
|
|
|
|
Proceeds from sale of investment tax credits |
$ |
20,411 |
|
|
$ |
(20,411) |
|
|
$ |
— |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net change in cash |
$ |
64,085 |
|
|
$ |
— |
|
|
$ |
64,085 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Six Months Ended June 30, 2025 |
|
|
|
Originally Reported |
|
Effect of Change |
|
As Adjusted |
|
|
Net income |
$ |
9,912 |
|
|
$ |
11,157 |
|
|
$ |
21,069 |
|
|
|
|
|
|
|
|
|
|
|
Adjustments to reconcile net loss to net cash flows from operating activities: |
|
|
|
Depreciation of energy assets, net |
46,839 |
|
|
4,059 |
|
|
50,898 |
|
|
|
Deferred income taxes, net |
(2,916) |
|
|
(15,216) |
|
|
(18,132) |
|
|
|
|
|
|
|
Changes in operating assets and liabilities: |
|
|
|
|
|
|
|
Proceeds from sale of investment tax credits |
— |
|
|
70,788 |
|
|
70,788 |
|
|
|
|
|
|
|
|
|
|
|
Operating cash flows |
(55,177) |
|
|
70,788 |
|
|
15,611 |
|
|
|
|
|
|
|
|
|
|
|
Cash flows from investing activities: |
|
|
|
|
|
|
|
Proceeds from sale of investment tax credits |
$ |
70,788 |
|
|
$ |
(70,788) |
|
|
$ |
— |
|
|
|
|
|
|
|
|
|
|
|
Net change in cash |
$ |
(6,361) |
|
|
$ |
— |
|
|
$ |
(6,361) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Statements of Cash Flows Line Items Impacted by Change: |
|
Three Months Ended March 31, 2026 |
|
Originally Reported |
|
Effect of Change |
|
As Adjusted |
Net income |
$ |
(14,383) |
|
|
$ |
(2,072) |
|
|
$ |
(16,455) |
|
|
|
|
|
|
|
Adjustments to reconcile net loss to net cash flows from operating activities: |
|
|
|
|
|
Depreciation of energy assets, net |
28,199 |
|
|
2,827 |
|
|
31,026 |
|
Deferred income taxes, net |
(1,895) |
|
|
(755) |
|
|
(2,650) |
|
|
|
|
|
|
|
Changes in operating assets and liabilities: |
|
|
|
|
|
Proceeds from sale of investment tax credits |
— |
|
|
— |
|
|
— |
|
|
|
|
|
|
|
Operating cash flows |
$ |
35,396 |
|
|
$ |
— |
|
|
$ |
35,396 |
|
|
|
|
|
|
|
Cash flows from investing activities: |
|
|
|
|
|
Proceeds from sale of investment tax credits |
$ |
— |
|
|
$ |
— |
|
|
$ |
— |
|
|
|
|
|
|
|
Net change in cash |
$ |
186,515 |
|
|
$ |
— |
|
|
$ |
186,515 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended March 31, 2025 |
|
Originally Reported |
|
Effect of Change |
|
As Adjusted |
Net income |
$ |
(5,606) |
|
|
$ |
(26,106) |
|
|
$ |
(31,712) |
|
|
|
|
|
|
|
Adjustments to reconcile net loss to net cash flows from operating activities: |
|
|
|
Depreciation of energy assets, net |
22,842 |
|
|
2,029 |
|
|
24,871 |
|
Deferred income taxes, net |
1,188 |
|
|
24,077 |
|
|
25,265 |
|
|
|
|
|
Changes in operating assets and liabilities: |
|
|
|
|
|
Proceeds from sale of investment tax credits |
— |
|
|
— |
|
|
— |
|
|
|
|
|
|
|
Operating cash flows |
(28,304) |
|
|
— |
|
|
(28,304) |
|
|
|
|
|
|
|
Cash flows from investing activities: |
|
|
|
|
|
Proceeds from sale of investment tax credits |
$ |
— |
|
|
$ |
— |
|
|
$ |
— |
|
|
|
|
|
|
|
Net change in cash |
$ |
(31,605) |
|
|
$ |
— |
|
|
$ |
(31,605) |
|
|