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Balance Sheet*
Cash Flows&For the Three Months Ended Marc&GFor the Three Months Ended (1)&:Cash and Cash Equivalents and R&uAccumulated Depreciation Accumu$Disaggregated Revenues!:Disaggregated Revenues (1)!TJDisaggregated Revenues (2)!T_Disaggregated Revenues (3)nContract BalancesBuckthorn Renewables LLC&Investments Accounted for by th&Fair Value Accounting under ASC&Fair Value Accounting under (1)&Recurring Fair Value Measuremen&Recurring Fair Value Measur (1)&ADerivative Fair Value Measureme&Derivative Fair Value Measu (1)&Volumetric Underlying Derivativ&5Fair Value of Derivative Instru&+Fair Value of Derivative In (1)&?Fair Value of Derivative In (2)&OAccumulated Other Comprehensive3b
Longterm DebtqNote 8 Segment Reporting#Note 8 Segment Reporting (1)ڽLongterm Debt (1)&For the Three Months Ended (2)&fFor the Three Months Ended (3)
March 31 20190March 31 2019 (1)& ]For the Three Months Ended (4)&For the Three Months Ended (5)&nFor the Three Months Ended (6)December 31 2018)December 31 2018 (1)&SFor the Three Months Ended (7)
IALesseeN
Lessee (1)E_
Lessee (2)o
Lessee (3)&}Introduction Environmental Regu&Introduction Environmental (1)&֛Introduction Environmental (2) Introduction and Overview$Introduction and Overview (1)&gConsolidated Results of Operati&Consolidated Results of Ope (1)#Economic Gross Margin DAEconomic Gross Margin (1):UInterest Expense"fLiquidity PositionxCredit RatingsφCash Flow Discussion&זNet Cash Provided By Operating &,Net Cash Used in Investing Acti&uNet Cash Used in Financing Acti&Derivative Fair Value Measu (2)&Derivative Fair Value Measu (3)ITEM 6 EXHIBITS
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Balance Sheet
Cash Flows!For the Three Months Ended Marc!For the Three Months Ended (1)!Cash and Cash Equivalents and R!Accumulated Depreciation AccumuDisaggregated RevenuesDisaggregated Revenues (1)Disaggregated Revenues (2)Disaggregated Revenues (3)Contract BalancesBuckthorn Renewables LLC!Investments Accounted for by th!Fair Value Accounting under ASC!Fair Value Accounting under (1)!Recurring Fair Value Measuremen!Recurring Fair Value Measur (1)!Derivative Fair Value Measureme!Derivative Fair Value Measu (1)!Volumetric Underlying Derivativ!Fair Value of Derivative Instru!Fair Value of Derivative In (1)!Fair Value of Derivative In (2)!Accumulated Other Comprehensive
Longterm DebtNote 8 Segment ReportingNote 8 Segment Reporting (1)Longterm Debt (1)!For the Three Months Ended (2)!For the Three Months Ended (3)
March 31 2019March 31 2019 (1)!For the Three Months Ended (4)!For the Three Months Ended (5)!For the Three Months Ended (6)December 31 2018December 31 2018 (1)!For the Three Months Ended (7)Lessee
Lessee (1)
Lessee (2)
Lessee (3)!Introduction Environmental Regu!Introduction Environmental (1)!Introduction Environmental (2)Introduction and OverviewIntroduction and Overview (1)!Consolidated Results of Operati!Consolidated Results of Ope (1)Economic Gross MarginEconomic Gross Margin (1)Interest ExpenseLiquidity PositionCredit RatingsCash Flow Discussion!Net Cash Provided By Operating !Net Cash Used in Investing Acti!Net Cash Used in Financing Acti!Derivative Fair Value Measu (2)!Derivative Fair Value Measu (3)ITEM 6 EXHIBITSU }$}$ }1
Clearway Energy LLC10Q
05/07/2019 FORM 10Q
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'Quarterly report pursuant to Section 13/'or 15(d) of the Securities Exchange Actof 1934
1)For the Quarterly Period Ended: March 31,~
o0(Transition report pursuant to Section 13/'or 15(d) of the Securities Exchange Actof 1934$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/6vjF`1=PF0*8X>
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FORM 10QRESULTS OF OPERATIONSGLOSSARY OF TERMSIncome Statement!CONSOLIDATED STATEMENTS OF COMP
Balance Sheet
Cash Flows!For the Three Months Ended Marc!For the Three Months Ended (1)!Cash and Cash Equivalents and R!Accumulated Depreciation AccumuDisaggregated RevenuesDisaggregated Revenues (1)Disaggregated Revenues (2)Disaggregated Revenues (3)Contract BalancesBuckthorn Renewables LLC!Investments Accounted for by th!Fair Value Accounting under ASC!Fair Value Accounting under (1)!Recurring Fair Value Measuremen!Recurring Fair Value Measur (1)!Derivative Fair Value Measureme!Derivative Fair Value Measu (1)!Volumetric Underlying Derivativ!Fair Value of Derivative Instru!Fair Value of Derivative In (1)!Fair Value of Derivative In (2)!Accumulated Other Comprehensive
Longterm DebtNote 8 Segment ReportingNote 8 Segment Reporting (1)Longterm Debt (1)!For the Three Months Ended (2)!For the Three Months Ended (3)
March 31 2019March 31 2019 (1)!For the Three Months Ended (4)!For the Three Months Ended (5)!For the Three Months Ended (6)December 31 2018December 31 2018 (1)!For the Three Months Ended (7)Lessee
Lessee (1)
Lessee (2)
Lessee (3)!Introduction Environmental Regu!Introduction Environmental (1)!Introduction Environmental (2)Introduction and OverviewIntroduction and Overview (1)!Consolidated Results of Operati!Consolidated Results of Ope (1)Economic Gross MarginEconomic Gross Margin (1)Interest ExpenseLiquidity PositionCredit RatingsCash Flow Discussion!Net Cash Provided By Operating !Net Cash Used in Investing Acti!Net Cash Used in Financing Acti!Derivative Fair Value Measu (2)!Derivative Fair Value Measu (3)ITEM 6 EXHIBITSU }2}$ }
Clearway Energy LLC10Q
05/07/2019Clearway Energy LLC
Delaware
320407370$(State or other jurisdiction(I.R.S. Employer)!of incorporation or organization)Identification No.)
2*300 Carnegie Center, Suite 300, Princeton,~
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New Jersey
(Zip Code)0((Address of principal executive offices)$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/.xl`<^:~rJ=PF0*8X>
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FORM 10QClearway Energy LLCGLOSSARY OF TERMSIncome Statement!CONSOLIDATED STATEMENTS OF COMP
Balance Sheet
Cash Flows!For the Three Months Ended Marc!For the Three Months Ended (1)!Cash and Cash Equivalents and R!Accumulated Depreciation AccumuDisaggregated RevenuesDisaggregated Revenues (1)Disaggregated Revenues (2)Disaggregated Revenues (3)Contract BalancesBuckthorn Renewables LLC!Investments Accounted for by th!Fair Value Accounting under ASC!Fair Value Accounting under (1)!Recurring Fair Value Measuremen!Recurring Fair Value Measur (1)!Derivative Fair Value Measureme!Derivative Fair Value Measu (1)!Volumetric Underlying Derivativ!Fair Value of Derivative Instru!Fair Value of Derivative In (1)!Fair Value of Derivative In (2)!Accumulated Other Comprehensive
Longterm DebtNote 8 Segment ReportingNote 8 Segment Reporting (1)Longterm Debt (1)!For the Three Months Ended (2)!For the Three Months Ended (3)
March 31 2019March 31 2019 (1)!For the Three Months Ended (4)!For the Three Months Ended (5)!For the Three Months Ended (6)December 31 2018December 31 2018 (1)!For the Three Months Ended (7)Lessee
Lessee (1)
Lessee (2)
Lessee (3)!Introduction Environmental Regu!Introduction Environmental (1)!Introduction Environmental (2)Introduction and OverviewIntroduction and Overview (1)!Consolidated Results of Operati!Consolidated Results of Ope (1)Economic Gross MarginEconomic Gross Margin (1)Interest ExpenseLiquidity PositionCredit RatingsCash Flow Discussion!Net Cash Provided By Operating !Net Cash Used in Investing Acti!Net Cash Used in Financing Acti!Derivative Fair Value Measu (2)!Derivative Fair Value Measu (3)ITEM 6 EXHIBITSU }$4}
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Clearway Energy LLC10Q
05/07/2019RESULTS OF OPERATIONS .
&CAUTIONARY STATEMENT REGARDING FORWARD~
LOOKING INFORMATIONGLOSSARY OF TERMS~
&
PART I  FINANCIAL INFORMATION~
/'ITEM 1  FINANCIAL STATEMENTS AND NOTES~
,$ITEM 2  MANAGEMENT?S DISCUSSION AND~
3+ANALYSIS OF FINANCIAL CONDITION AND RESULTS
OF OPERATIONS%ITEM 3  QUANTITATIVE AND QUALITATIVE~
%DISCLOSURES ABOUT MARKET RISK( ITEM 4  CONTROLS AND PROCEDURES~
#PART II  OTHER INFORMATION~
"ITEM 1  LEGAL PROCEEDINGS~
ITEM 1A  RISK FACTORS~
%ITEM 2  UNREGISTERED SALES OF EQUITY~
&SECURITIES AND USE OF PROCEEDS0(ITEM 3  DEFAULTS UPON SENIOR SECURITIES~
( ITEM 4  MINE SAFETY DISCLOSURES~
"ITEM 5  OTHER INFORMATION~
ITEM 6  EXHIBITS~
SIGNATURES~
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FORM 10QClearway Energy LLCRESULTS OF OPERATIONSIncome Statement!CONSOLIDATED STATEMENTS OF COMP
Balance Sheet
Cash Flows!For the Three Months Ended Marc!For the Three Months Ended (1)!Cash and Cash Equivalents and R!Accumulated Depreciation AccumuDisaggregated RevenuesDisaggregated Revenues (1)Disaggregated Revenues (2)Disaggregated Revenues (3)Contract BalancesBuckthorn Renewables LLC!Investments Accounted for by th!Fair Value Accounting under ASC!Fair Value Accounting under (1)!Recurring Fair Value Measuremen!Recurring Fair Value Measur (1)!Derivative Fair Value Measureme!Derivative Fair Value Measu (1)!Volumetric Underlying Derivativ!Fair Value of Derivative Instru!Fair Value of Derivative In (1)!Fair Value of Derivative In (2)!Accumulated Other Comprehensive
Longterm DebtNote 8 Segment ReportingNote 8 Segment Reporting (1)Longterm Debt (1)!For the Three Months Ended (2)!For the Three Months Ended (3)
March 31 2019March 31 2019 (1)!For the Three Months Ended (4)!For the Three Months Ended (5)!For the Three Months Ended (6)December 31 2018December 31 2018 (1)!For the Three Months Ended (7)Lessee
Lessee (1)
Lessee (2)
Lessee (3)!Introduction Environmental Regu!Introduction Environmental (1)!Introduction Environmental (2)Introduction and OverviewIntroduction and Overview (1)!Consolidated Results of Operati!Consolidated Results of Ope (1)Economic Gross MarginEconomic Gross Margin (1)Interest ExpenseLiquidity PositionCredit RatingsCash Flow Discussion!Net Cash Provided By Operating !Net Cash Used in Investing Acti!Net Cash Used in Financing Acti!Derivative Fair Value Measu (2)!Derivative Fair Value Measu (3)ITEM 6 EXHIBITSU }0.}$ }8
I
Clearway Energy LLC10Q
05/07/2019GLOSSARY OF TERMS
NRG TSA
.
&Transition Services Agreement dated as5of August 31, 2018 by and between NRG Energy,Inc. and the Company
OECD
2
*The Organization for Economic Cooperationand DevelopmentOCI/OCL'Other comprehensive income/lossO&M!Operation and MaintenancePG&E( Pacific Gas and Electric CompanyPG&E Bankruptcy1)On January 29, 2019, PG&E Corporation and.&Pacific Gas and Electric Company filed0(voluntary petitions for relief under the.&Bankruptcy Code in the U.S. Bankruptcy5Court for the Northern District of CaliforniaPPA Power Purchase Agreement
RENOM2*Clearway Renewable Operation & MaintenanceLLCROFORight of First Offer
RPV HoldcoRPV Holdco 1 LLCRTO( Regional Transmission OriginatorSEC/'U.S. Securities and Exchange CommissionSenior Notes/'Collectively, the 2024 Senior Notes andthe 2026 Senior NotesDX lznb>dU
gAM !"#$%&'()*+,./0123456789:;<=>? SPP Solar Power Partners!Tax Act!%!Tax Cuts and Jobs Act of 2017."&Wind TE Holdco Noncontrolling interest""#Thermal Business##%The Company's thermal business, which$$1$)consists of thermal infrastructure assets%%4%,that provide steam, hot water and/or chilled&&1&)water, and in some instances electricity,''/''to commercial businesses, universities,(((( hospitals and governmental units)TSA)%)Transition Services Agreement*UPMC Thermal Project*3*+The University of Pittsburgh Medical Center++1+)Thermal Project, a 73 MWt district energy,,0,(system that allows ECP to provide steam,4,chilled water and 7.5 MW of emergency backup...power service to UPMC/U.S./ /United States of America0U.S. DOE0!0U.S. Department of Energy1Utah Solar Portfolio131+Collection consists of Four Brothers Solar,2202(LLC, Granite Mountain Holdings, LLC, and3343,Iron Springs Holdings, LLC, which are equity4434+investments owned by Four Brothers Capital,55/5'LLC, Granite Mountain Capital, LLC, and6606(Iron Springs Capital, LLC, respectively,7777/and are part of the March 2017 Drop Down Assets8818)acquisition that closed on March 27, 20179Utility Scale Solar909(Solar power projects, typically 20 MW or::3:+greater in size (on an alternating current,;;.;&or AC, basis), that are interconnected<<<%into the transmission or distribution==/='grid to sell power at a wholesale level>VaR>>
Value at Risk?VIE? ?Variable Interest EntityDl}3=am!Xdz./M@ABCDEFGH@Wind TE Holdco@3@+Wind TE Holdco LLC, an 814 net MW portfolioAAAof twelve wind projectsBBBCCCDE$F____________________________1G)Created by Morningstar Document Research.0H(http://documentresearch.morningstar.com/=hD =PF0*8X>
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FORM 10QClearway Energy LLCRESULTS OF OPERATIONSGLOSSARY OF TERMS!CONSOLIDATED STATEMENTS OF COMP
Balance Sheet
Cash Flows!For the Three Months Ended Marc!For the Three Months Ended (1)!Cash and Cash Equivalents and R!Accumulated Depreciation AccumuDisaggregated RevenuesDisaggregated Revenues (1)Disaggregated Revenues (2)Disaggregated Revenues (3)Contract BalancesBuckthorn Renewables LLC!Investments Accounted for by th!Fair Value Accounting under ASC!Fair Value Accounting under (1)!Recurring Fair Value Measuremen!Recurring Fair Value Measur (1)!Derivative Fair Value Measureme!Derivative Fair Value Measu (1)!Volumetric Underlying Derivativ!Fair Value of Derivative Instru!Fair Value of Derivative In (1)!Fair Value of Derivative In (2)!Accumulated Other Comprehensive
Longterm DebtNote 8 Segment ReportingNote 8 Segment Reporting (1)Longterm Debt (1)!For the Three Months Ended (2)!For the Three Months Ended (3)
March 31 2019March 31 2019 (1)!For the Three Months Ended (4)!For the Three Months Ended (5)!For the Three Months Ended (6)December 31 2018December 31 2018 (1)!For the Three Months Ended (7)Lessee
Lessee (1)
Lessee (2)
Lessee (3)!Introduction Environmental Regu!Introduction Environmental (1)!Introduction Environmental (2)Introduction and OverviewIntroduction and Overview (1)!Consolidated Results of Operati!Consolidated Results of Ope (1)Economic Gross MarginEconomic Gross Margin (1)Interest ExpenseLiquidity PositionCredit RatingsCash Flow Discussion!Net Cash Provided By Operating !Net Cash Used in Investing Acti!Net Cash Used in Financing Acti!Derivative Fair Value Measu (2)!Derivative Fair Value Measu (3)ITEM 6 EXHIBITSU }8}$
$
Clearway Energy LLC10Q
05/07/2019Income Statement
$
Three months ended March 31,
(In millions)~
~
Operating Revenues
Total operating revenues~
f
~
$Operating Costs and ExpensesCost of operations~
R~
f%Depreciation and amortization~
R~
F"General and administrative~
~
)!Transaction and integration costs~
~
Development costs~
*"Total operating costs and expenses~
~
Operating Income~
~
Other Income (Expense)7/Equity in earnings of unconsolidated affiliates~
~
Other income, net~
~
Interest expense~
n~
2 Total other expense, net~
~
FNet (Loss) Income~
*~
1)Less: Loss attributable to noncontrolling~
~
n interests2*Net (Loss) Income Attributable to Clearway~
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FORM 10QClearway Energy LLCRESULTS OF OPERATIONSGLOSSARY OF TERMSIncome Statement
Balance Sheet
Cash Flows!For the Three Months Ended Marc!For the Three Months Ended (1)!Cash and Cash Equivalents and R!Accumulated Depreciation AccumuDisaggregated RevenuesDisaggregated Revenues (1)Disaggregated Revenues (2)Disaggregated Revenues (3)Contract BalancesBuckthorn Renewables LLC!Investments Accounted for by th!Fair Value Accounting under ASC!Fair Value Accounting under (1)!Recurring Fair Value Measuremen!Recurring Fair Value Measur (1)!Derivative Fair Value Measureme!Derivative Fair Value Measu (1)!Volumetric Underlying Derivativ!Fair Value of Derivative Instru!Fair Value of Derivative In (1)!Fair Value of Derivative In (2)!Accumulated Other Comprehensive
Longterm DebtNote 8 Segment ReportingNote 8 Segment Reporting (1)Longterm Debt (1)!For the Three Months Ended (2)!For the Three Months Ended (3)
March 31 2019March 31 2019 (1)!For the Three Months Ended (4)!For the Three Months Ended (5)!For the Three Months Ended (6)December 31 2018December 31 2018 (1)!For the Three Months Ended (7)Lessee
Lessee (1)
Lessee (2)
Lessee (3)!Introduction Environmental Regu!Introduction Environmental (1)!Introduction Environmental (2)Introduction and OverviewIntroduction and Overview (1)!Consolidated Results of Operati!Consolidated Results of Ope (1)Economic Gross MarginEconomic Gross Margin (1)Interest ExpenseLiquidity PositionCredit RatingsCash Flow Discussion!Net Cash Provided By Operating !Net Cash Used in Investing Acti!Net Cash Used in Financing Acti!Derivative Fair Value Measu (2)!Derivative Fair Value Measu (3)ITEM 6 EXHIBITSU }0}$
Clearway Energy LLC10Q
05/07/2019>6CONSOLIDATED STATEMENTS OF COMPREHENSIVE (LOSS) INCOME
$
Three months ended March 31,
(In millions)~
~
Net (Loss) Income~
*~
'
Other Comprehensive (Loss) Gain
%Unrealized (loss) gain on derivatives~
~
R'Other comprehensive (loss) gain~
~
R#Comprehensive (Loss) Income~
"~
Z%Less: Comprehensive loss attributable~
~
n#to noncontrolling interests0(Comprehensive (Loss) Income Attributable~
6~
to Clearway Energy LLC$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/6FmaUI=hKymK?=PF0*8X>
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FORM 10QClearway Energy LLCRESULTS OF OPERATIONSGLOSSARY OF TERMSIncome Statement!CONSOLIDATED STATEMENTS OF COMP
Cash Flows!For the Three Months Ended Marc!For the Three Months Ended (1)!Cash and Cash Equivalents and R!Accumulated Depreciation AccumuDisaggregated RevenuesDisaggregated Revenues (1)Disaggregated Revenues (2)Disaggregated Revenues (3)Contract BalancesBuckthorn Renewables LLC!Investments Accounted for by th!Fair Value Accounting under ASC!Fair Value Accounting under (1)!Recurring Fair Value Measuremen!Recurring Fair Value Measur (1)!Derivative Fair Value Measureme!Derivative Fair Value Measu (1)!Volumetric Underlying Derivativ!Fair Value of Derivative Instru!Fair Value of Derivative In (1)!Fair Value of Derivative In (2)!Accumulated Other Comprehensive
Longterm DebtNote 8 Segment ReportingNote 8 Segment Reporting (1)Longterm Debt (1)!For the Three Months Ended (2)!For the Three Months Ended (3)
March 31 2019March 31 2019 (1)!For the Three Months Ended (4)!For the Three Months Ended (5)!For the Three Months Ended (6)December 31 2018December 31 2018 (1)!For the Three Months Ended (7)Lessee
Lessee (1)
Lessee (2)
Lessee (3)!Introduction Environmental Regu!Introduction Environmental (1)!Introduction Environmental (2)Introduction and OverviewIntroduction and Overview (1)!Consolidated Results of Operati!Consolidated Results of Ope (1)Economic Gross MarginEconomic Gross Margin (1)Interest ExpenseLiquidity PositionCredit RatingsCash Flow Discussion!Net Cash Provided By Operating !Net Cash Used in Investing Acti!Net Cash Used in Financing Acti!Derivative Fair Value Measu (2)!Derivative Fair Value Measu (3)ITEM 6 EXHIBITSU }7}$
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Clearway Energy LLC10Q
05/07/2019
Balance Sheet
(In millions)
March 31, 2019
December 31, 2018ASSETS(unaudited)Current Assets!
Cash and cash equivalents~
~
^
Restricted cash~
~
#Accounts receivable  trade~
n~
'Accounts receivable  affiliate~
2~
Inventory~
~
,$Prepayments and other current assets~
n~
vTotal current assets~
J~
*"Property, plant and equipment, net~
S~
QOther Assets( Equity investments in affiliates~
~
RIntangible assets, net~
~
Derivative instruments ~
" Right of use assets, net~
 Other noncurrent assets~
~
Total other assets~
v(~
*&Total Assets~
j~
'LIABILITIES AND MEMBERS' EQUITYCurrent Liabilities4,Current portion of longterm debt  external~
~
Dll~rfi+kDt^8v !"#$%&'()*+,./0123456789:;5 Current portion of longterm debt  affiliate  ~
^ !Accounts payable  trade~
!!!~
!!$"Accounts payable  affiliate~
"""~
"R"#Derivative instruments~
#.##~
## $Accrued interest expense~
$$$~
$$6%.Accrued expenses and other current liabilities~
%%%~
%%!&Total current liabilities~
&&&~
&
&'Other Liabilities'''!(Longterm debt  external~
(ZA((~
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)))~
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*~**~
*F*#+Longterm lease liabilities~
+++ ++%,Other noncurrent liabilities~
,,,~
,,%Total noncurrent liabilities~
F~
V.Total Liabilities~
.b..~
.a.%/Commitments and Contingencies///0Members' Equity0001Contributed capital~
1V11~
1R1/2'(Accumulated deficit) retained earnings~
222~
2Z2,3$Accumulated other comprehensive loss~
3F33~
3R34Noncontrolling interest~
4:44~
4"45Total Members' Equity~
5 55~
5"56%Total Liabilities and Members? Equity~
6j66~
6678$9____________________________1:)Created by Morningstar Document Research.0;(http://documentresearch.morningstar.com/<$ZqCq)F=PF0*8X>
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FORM 10QClearway Energy LLCRESULTS OF OPERATIONSGLOSSARY OF TERMSIncome Statement!CONSOLIDATED STATEMENTS OF COMP
Balance Sheet!For the Three Months Ended Marc!For the Three Months Ended (1)!Cash and Cash Equivalents and R!Accumulated Depreciation AccumuDisaggregated RevenuesDisaggregated Revenues (1)Disaggregated Revenues (2)Disaggregated Revenues (3)Contract BalancesBuckthorn Renewables LLC!Investments Accounted for by th!Fair Value Accounting under ASC!Fair Value Accounting under (1)!Recurring Fair Value Measuremen!Recurring Fair Value Measur (1)!Derivative Fair Value Measureme!Derivative Fair Value Measu (1)!Volumetric Underlying Derivativ!Fair Value of Derivative Instru!Fair Value of Derivative In (1)!Fair Value of Derivative In (2)!Accumulated Other Comprehensive
Longterm DebtNote 8 Segment ReportingNote 8 Segment Reporting (1)Longterm Debt (1)!For the Three Months Ended (2)!For the Three Months Ended (3)
March 31 2019March 31 2019 (1)!For the Three Months Ended (4)!For the Three Months Ended (5)!For the Three Months Ended (6)December 31 2018December 31 2018 (1)!For the Three Months Ended (7)Lessee
Lessee (1)
Lessee (2)
Lessee (3)!Introduction Environmental Regu!Introduction Environmental (1)!Introduction Environmental (2)Introduction and OverviewIntroduction and Overview (1)!Consolidated Results of Operati!Consolidated Results of Ope (1)Economic Gross MarginEconomic Gross Margin (1)Interest ExpenseLiquidity PositionCredit RatingsCash Flow Discussion!Net Cash Provided By Operating !Net Cash Used in Investing Acti!Net Cash Used in Financing Acti!Derivative Fair Value Measu (2)!Derivative Fair Value Measu (3)ITEM 6 EXHIBITSU }8}$
>
Clearway Energy LLC10Q
05/07/2019
Cash Flows
$
Three months ended March 31,~
~
(In millions),
$Cash Flows from Operating Activities
Net (loss) income~
*~
.&Adjustments to reconcile net income to2*net cash provided by operating activities:7/Equity in earnings of unconsolidated affiliates~
~
4,Distributions from unconsolidated affiliates~
.~
6%Depreciation and amortization~
R~
F'Amortization of financing costs~
~
5Amortization of intangibles and outofmarket~
F~
F contracts)!Changes in derivative instruments~
r~
,$Loss on disposal of asset components~
~
2*Changes in prepaid and accrued liabilities~
v~
rfor tolling agreements( Changes in other working capital~
"~
.1)Net Cash Provided by Operating Activities~
~
,$Cash Flows from Investing Activities3+Acquisition of interest in Oahu Partnership~
/'Acquisition of the Buckthorn Solar Drop ~
ZD(lui (u?Lx}
u @ !"#$%&'()*+,./0123456789:;<=
Down Asset/!'Buyout of Wind TE Holdco noncontrolling~
!!! !!"interest#Capital expenditures~
###~
##+$#Cash receipts from notes receivable $$$~
$$0%(Return of investment from unconsolidated~
%:%%~
%:%&
affiliates0'(Investments in unconsolidated affiliates~
'''~
''
(Other~
(((~
(()%Net Cash Used in Investing Activities~
)))~
)R),*$Cash Flows from Financing Activities***+%Net contributions from noncontrolling~
+N++~
+z+, interests!Payments of distributions~
f~
&3.+Proceeds from the revolving credit facility ...~
.R.//'Proceeds from the issuance of longterm~
///~
/:/0debt  external.1&Payments for longterm debt  external~
111~
11/2'Payments for longterm debt  affiliate~
222 223%Net Cash Used in Financing Activities~
333~
33.4&Net Decrease in Cash, Cash Equivalents~
444~
4B45and Restricted Cash6%Cash, Cash Equivalents and Restricted~
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FORM 10QClearway Energy LLCRESULTS OF OPERATIONSGLOSSARY OF TERMSIncome Statement!CONSOLIDATED STATEMENTS OF COMP
Balance Sheet
Cash Flows!For the Three Months Ended (1)!Cash and Cash Equivalents and R!Accumulated Depreciation AccumuDisaggregated RevenuesDisaggregated Revenues (1)Disaggregated Revenues (2)Disaggregated Revenues (3)Contract BalancesBuckthorn Renewables LLC!Investments Accounted for by th!Fair Value Accounting under ASC!Fair Value Accounting under (1)!Recurring Fair Value Measuremen!Recurring Fair Value Measur (1)!Derivative Fair Value Measureme!Derivative Fair Value Measu (1)!Volumetric Underlying Derivativ!Fair Value of Derivative Instru!Fair Value of Derivative In (1)!Fair Value of Derivative In (2)!Accumulated Other Comprehensive
Longterm DebtNote 8 Segment ReportingNote 8 Segment Reporting (1)Longterm Debt (1)!For the Three Months Ended (2)!For the Three Months Ended (3)
March 31 2019March 31 2019 (1)!For the Three Months Ended (4)!For the Three Months Ended (5)!For the Three Months Ended (6)December 31 2018December 31 2018 (1)!For the Three Months Ended (7)Lessee
Lessee (1)
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Lessee (3)!Introduction Environmental Regu!Introduction Environmental (1)!Introduction Environmental (2)Introduction and OverviewIntroduction and Overview (1)!Consolidated Results of Operati!Consolidated Results of Ope (1)Economic Gross MarginEconomic Gross Margin (1)Interest ExpenseLiquidity PositionCredit RatingsCash Flow Discussion!Net Cash Provided By Operating !Net Cash Used in Investing Acti!Net Cash Used in Financing Acti!Derivative Fair Value Measu (2)!Derivative Fair Value Measu (3)ITEM 6 EXHIBITSU }U5}$
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Clearway Energy LLC10Q
05/07/20191)For the Three Months Ended March 31, 2019
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FORM 10QClearway Energy LLCRESULTS OF OPERATIONSGLOSSARY OF TERMSIncome Statement!CONSOLIDATED STATEMENTS OF COMP
Balance Sheet
Cash Flows!For the Three Months Ended Marc!Cash and Cash Equivalents and R!Accumulated Depreciation AccumuDisaggregated RevenuesDisaggregated Revenues (1)Disaggregated Revenues (2)Disaggregated Revenues (3)Contract BalancesBuckthorn Renewables LLC!Investments Accounted for by th!Fair Value Accounting under ASC!Fair Value Accounting under (1)!Recurring Fair Value Measuremen!Recurring Fair Value Measur (1)!Derivative Fair Value Measureme!Derivative Fair Value Measu (1)!Volumetric Underlying Derivativ!Fair Value of Derivative Instru!Fair Value of Derivative In (1)!Fair Value of Derivative In (2)!Accumulated Other Comprehensive
Longterm DebtNote 8 Segment ReportingNote 8 Segment Reporting (1)Longterm Debt (1)!For the Three Months Ended (2)!For the Three Months Ended (3)
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Clearway Energy LLC10Q
05/07/20191)For the Three Months Ended March 31, 2018
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FORM 10QClearway Energy LLCRESULTS OF OPERATIONSGLOSSARY OF TERMSIncome Statement!CONSOLIDATED STATEMENTS OF COMP
Balance Sheet
Cash Flows!For the Three Months Ended Marc!For the Three Months Ended (1)!Accumulated Depreciation AccumuDisaggregated RevenuesDisaggregated Revenues (1)Disaggregated Revenues (2)Disaggregated Revenues (3)Contract BalancesBuckthorn Renewables LLC!Investments Accounted for by th!Fair Value Accounting under ASC!Fair Value Accounting under (1)!Recurring Fair Value Measuremen!Recurring Fair Value Measur (1)!Derivative Fair Value Measureme!Derivative Fair Value Measu (1)!Volumetric Underlying Derivativ!Fair Value of Derivative Instru!Fair Value of Derivative In (1)!Fair Value of Derivative In (2)!Accumulated Other Comprehensive
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March 31 2019March 31 2019 (1)!For the Three Months Ended (4)!For the Three Months Ended (5)!For the Three Months Ended (6)December 31 2018December 31 2018 (1)!For the Three Months Ended (7)Lessee
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05/07/20196.Cash and Cash Equivalents, and Restricted Cash
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FORM 10QClearway Energy LLCRESULTS OF OPERATIONSGLOSSARY OF TERMSIncome Statement!CONSOLIDATED STATEMENTS OF COMP
Balance Sheet
Cash Flows!For the Three Months Ended Marc!For the Three Months Ended (1)!Cash and Cash Equivalents and RDisaggregated RevenuesDisaggregated Revenues (1)Disaggregated Revenues (2)Disaggregated Revenues (3)Contract BalancesBuckthorn Renewables LLC!Investments Accounted for by th!Fair Value Accounting under ASC!Fair Value Accounting under (1)!Recurring Fair Value Measuremen!Recurring Fair Value Measur (1)!Derivative Fair Value Measureme!Derivative Fair Value Measu (1)!Volumetric Underlying Derivativ!Fair Value of Derivative Instru!Fair Value of Derivative In (1)!Fair Value of Derivative In (2)!Accumulated Other Comprehensive
Longterm DebtNote 8 Segment ReportingNote 8 Segment Reporting (1)Longterm Debt (1)!For the Three Months Ended (2)!For the Three Months Ended (3)
March 31 2019March 31 2019 (1)!For the Three Months Ended (4)!For the Three Months Ended (5)!For the Three Months Ended (6)December 31 2018December 31 2018 (1)!For the Three Months Ended (7)Lessee
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Clearway Energy LLC10Q
05/07/2019:2Accumulated Depreciation, Accumulated Amortization
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Balance Sheet
Cash Flows!For the Three Months Ended Marc!For the Three Months Ended (1)!Cash and Cash Equivalents and R!Accumulated Depreciation AccumuDisaggregated Revenues (1)Disaggregated Revenues (2)Disaggregated Revenues (3)Contract BalancesBuckthorn Renewables LLC!Investments Accounted for by th!Fair Value Accounting under ASC!Fair Value Accounting under (1)!Recurring Fair Value Measuremen!Recurring Fair Value Measur (1)!Derivative Fair Value Measureme!Derivative Fair Value Measu (1)!Volumetric Underlying Derivativ!Fair Value of Derivative Instru!Fair Value of Derivative In (1)!Fair Value of Derivative In (2)!Accumulated Other Comprehensive
Longterm DebtNote 8 Segment ReportingNote 8 Segment Reporting (1)Longterm Debt (1)!For the Three Months Ended (2)!For the Three Months Ended (3)
March 31 2019March 31 2019 (1)!For the Three Months Ended (4)!For the Three Months Ended (5)!For the Three Months Ended (6)December 31 2018December 31 2018 (1)!For the Three Months Ended (7)Lessee
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Clearway Energy LLC10Q
05/07/2019Disaggregated Revenues
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Balance Sheet
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Clearway Energy LLC10Q
05/07/2019Disaggregated Revenues
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Balance Sheet
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Longterm DebtNote 8 Segment ReportingNote 8 Segment Reporting (1)Longterm Debt (1)!For the Three Months Ended (2)!For the Three Months Ended (3)
March 31 2019March 31 2019 (1)!For the Three Months Ended (4)!For the Three Months Ended (5)!For the Three Months Ended (6)December 31 2018December 31 2018 (1)!For the Three Months Ended (7)Lessee
Lessee (1)
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Clearway Energy LLC10Q
05/07/2019Disaggregated Revenues
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Balance Sheet
Cash Flows!For the Three Months Ended Marc!For the Three Months Ended (1)!Cash and Cash Equivalents and R!Accumulated Depreciation AccumuDisaggregated RevenuesDisaggregated Revenues (1)Disaggregated Revenues (2)Disaggregated Revenues (3)Buckthorn Renewables LLC!Investments Accounted for by th!Fair Value Accounting under ASC!Fair Value Accounting under (1)!Recurring Fair Value Measuremen!Recurring Fair Value Measur (1)!Derivative Fair Value Measureme!Derivative Fair Value Measu (1)!Volumetric Underlying Derivativ!Fair Value of Derivative Instru!Fair Value of Derivative In (1)!Fair Value of Derivative In (2)!Accumulated Other Comprehensive
Longterm DebtNote 8 Segment ReportingNote 8 Segment Reporting (1)Longterm Debt (1)!For the Three Months Ended (2)!For the Three Months Ended (3)
March 31 2019March 31 2019 (1)!For the Three Months Ended (4)!For the Three Months Ended (5)!For the Three Months Ended (6)December 31 2018December 31 2018 (1)!For the Three Months Ended (7)Lessee
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Clearway Energy LLC10Q
05/07/2019Contract Balances
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Balance Sheet
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Clearway Energy LLC10Q
05/07/2019!Buckthorn Renewables, LLC
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Alta Wind TE Holdco
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Balance Sheet
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Longterm DebtNote 8 Segment ReportingNote 8 Segment Reporting (1)Longterm Debt (1)!For the Three Months Ended (2)!For the Three Months Ended (3)
March 31 2019March 31 2019 (1)!For the Three Months Ended (4)!For the Three Months Ended (5)!For the Three Months Ended (6)December 31 2018December 31 2018 (1)!For the Three Months Ended (7)Lessee
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Clearway Energy LLC10Q
05/07/2019VNInvestments Accounted for by the Equity Method and Variable Interest Entities,
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Maximum exposure to loss Four Brothers Solar, LLC~
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FORM 10QClearway Energy LLCRESULTS OF OPERATIONSGLOSSARY OF TERMSIncome Statement!CONSOLIDATED STATEMENTS OF COMP
Balance Sheet
Cash Flows!For the Three Months Ended Marc!For the Three Months Ended (1)!Cash and Cash Equivalents and R!Accumulated Depreciation AccumuDisaggregated RevenuesDisaggregated Revenues (1)Disaggregated Revenues (2)Disaggregated Revenues (3)Contract BalancesBuckthorn Renewables LLC!Investments Accounted for by th!Fair Value Accounting under (1)!Recurring Fair Value Measuremen!Recurring Fair Value Measur (1)!Derivative Fair Value Measureme!Derivative Fair Value Measu (1)!Volumetric Underlying Derivativ!Fair Value of Derivative Instru!Fair Value of Derivative In (1)!Fair Value of Derivative In (2)!Accumulated Other Comprehensive
Longterm DebtNote 8 Segment ReportingNote 8 Segment Reporting (1)Longterm Debt (1)!For the Three Months Ended (2)!For the Three Months Ended (3)
March 31 2019March 31 2019 (1)!For the Three Months Ended (4)!For the Three Months Ended (5)!For the Three Months Ended (6)December 31 2018December 31 2018 (1)!For the Three Months Ended (7)Lessee
Lessee (1)
Lessee (2)
Lessee (3)!Introduction Environmental Regu!Introduction Environmental (1)!Introduction Environmental (2)Introduction and OverviewIntroduction and Overview (1)!Consolidated Results of Operati!Consolidated Results of Ope (1)Economic Gross MarginEconomic Gross Margin (1)Interest ExpenseLiquidity PositionCredit RatingsCash Flow Discussion!Net Cash Provided By Operating !Net Cash Used in Investing Acti!Net Cash Used in Financing Acti!Derivative Fair Value Measu (2)!Derivative Fair Value Measu (3)ITEM 6 EXHIBITSU }}$
Clearway Energy LLC10Q
05/07/2019+#Fair Value Accounting under ASC 820
As of March 31, 2019
As of December 31, 2018Carrying Amount
Fair Value Carrying Amount
Fair Value
(In millions)
Liabilities:
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FORM 10QClearway Energy LLCRESULTS OF OPERATIONSGLOSSARY OF TERMSIncome Statement!CONSOLIDATED STATEMENTS OF COMP
Balance Sheet
Cash Flows!For the Three Months Ended Marc!For the Three Months Ended (1)!Cash and Cash Equivalents and R!Accumulated Depreciation AccumuDisaggregated RevenuesDisaggregated Revenues (1)Disaggregated Revenues (2)Disaggregated Revenues (3)Contract BalancesBuckthorn Renewables LLC!Investments Accounted for by th!Fair Value Accounting under ASC!Recurring Fair Value Measuremen!Recurring Fair Value Measur (1)!Derivative Fair Value Measureme!Derivative Fair Value Measu (1)!Volumetric Underlying Derivativ!Fair Value of Derivative Instru!Fair Value of Derivative In (1)!Fair Value of Derivative In (2)!Accumulated Other Comprehensive
Longterm DebtNote 8 Segment ReportingNote 8 Segment Reporting (1)Longterm Debt (1)!For the Three Months Ended (2)!For the Three Months Ended (3)
March 31 2019March 31 2019 (1)!For the Three Months Ended (4)!For the Three Months Ended (5)!For the Three Months Ended (6)December 31 2018December 31 2018 (1)!For the Three Months Ended (7)Lessee
Lessee (1)
Lessee (2)
Lessee (3)!Introduction Environmental Regu!Introduction Environmental (1)!Introduction Environmental (2)Introduction and OverviewIntroduction and Overview (1)!Consolidated Results of Operati!Consolidated Results of Ope (1)Economic Gross MarginEconomic Gross Margin (1)Interest ExpenseLiquidity PositionCredit RatingsCash Flow Discussion!Net Cash Provided By Operating !Net Cash Used in Investing Acti!Net Cash Used in Financing Acti!Derivative Fair Value Measu (2)!Derivative Fair Value Measu (3)ITEM 6 EXHIBITSU }1}$
Clearway Energy LLC10Q
05/07/2019+#Fair Value Accounting under ASC 820
As of March 31, 2019
As of December 31, 2018Level 2Level 3 Level 2
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FORM 10QClearway Energy LLCRESULTS OF OPERATIONSGLOSSARY OF TERMSIncome Statement!CONSOLIDATED STATEMENTS OF COMP
Balance Sheet
Cash Flows!For the Three Months Ended Marc!For the Three Months Ended (1)!Cash and Cash Equivalents and R!Accumulated Depreciation AccumuDisaggregated RevenuesDisaggregated Revenues (1)Disaggregated Revenues (2)Disaggregated Revenues (3)Contract BalancesBuckthorn Renewables LLC!Investments Accounted for by th!Fair Value Accounting under ASC!Fair Value Accounting under (1)!Recurring Fair Value Measur (1)!Derivative Fair Value Measureme!Derivative Fair Value Measu (1)!Volumetric Underlying Derivativ!Fair Value of Derivative Instru!Fair Value of Derivative In (1)!Fair Value of Derivative In (2)!Accumulated Other Comprehensive
Longterm DebtNote 8 Segment ReportingNote 8 Segment Reporting (1)Longterm Debt (1)!For the Three Months Ended (2)!For the Three Months Ended (3)
March 31 2019March 31 2019 (1)!For the Three Months Ended (4)!For the Three Months Ended (5)!For the Three Months Ended (6)December 31 2018December 31 2018 (1)!For the Three Months Ended (7)Lessee
Lessee (1)
Lessee (2)
Lessee (3)!Introduction Environmental Regu!Introduction Environmental (1)!Introduction Environmental (2)Introduction and OverviewIntroduction and Overview (1)!Consolidated Results of Operati!Consolidated Results of Ope (1)Economic Gross MarginEconomic Gross Margin (1)Interest ExpenseLiquidity PositionCredit RatingsCash Flow Discussion!Net Cash Provided By Operating !Net Cash Used in Investing Acti!Net Cash Used in Financing Acti!Derivative Fair Value Measu (2)!Derivative Fair Value Measu (3)ITEM 6 EXHIBITSU }U}$
Clearway Energy LLC10Q
05/07/2019)!Recurring Fair Value Measurements
As of March 31, 2019
As of December 31, 2018Fair Value (a)
Fair Value (a)
(In millions)Level 2Level 3
Total
Level 2
Derivative assets:
Interest rate contracts~
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FORM 10QClearway Energy LLCRESULTS OF OPERATIONSGLOSSARY OF TERMSIncome Statement!CONSOLIDATED STATEMENTS OF COMP
Balance Sheet
Cash Flows!For the Three Months Ended Marc!For the Three Months Ended (1)!Cash and Cash Equivalents and R!Accumulated Depreciation AccumuDisaggregated RevenuesDisaggregated Revenues (1)Disaggregated Revenues (2)Disaggregated Revenues (3)Contract BalancesBuckthorn Renewables LLC!Investments Accounted for by th!Fair Value Accounting under ASC!Fair Value Accounting under (1)!Recurring Fair Value Measuremen!Derivative Fair Value Measureme!Derivative Fair Value Measu (1)!Volumetric Underlying Derivativ!Fair Value of Derivative Instru!Fair Value of Derivative In (1)!Fair Value of Derivative In (2)!Accumulated Other Comprehensive
Longterm DebtNote 8 Segment ReportingNote 8 Segment Reporting (1)Longterm Debt (1)!For the Three Months Ended (2)!For the Three Months Ended (3)
March 31 2019March 31 2019 (1)!For the Three Months Ended (4)!For the Three Months Ended (5)!For the Three Months Ended (6)December 31 2018December 31 2018 (1)!For the Three Months Ended (7)Lessee
Lessee (1)
Lessee (2)
Lessee (3)!Introduction Environmental Regu!Introduction Environmental (1)!Introduction Environmental (2)Introduction and OverviewIntroduction and Overview (1)!Consolidated Results of Operati!Consolidated Results of Ope (1)Economic Gross MarginEconomic Gross Margin (1)Interest ExpenseLiquidity PositionCredit RatingsCash Flow Discussion!Net Cash Provided By Operating !Net Cash Used in Investing Acti!Net Cash Used in Financing Acti!Derivative Fair Value Measu (2)!Derivative Fair Value Measu (3)ITEM 6 EXHIBITSU }a/}$
Clearway Energy LLC10Q
05/07/2019)!Recurring Fair Value Measurements
(In millions)
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FORM 10QClearway Energy LLCRESULTS OF OPERATIONSGLOSSARY OF TERMSIncome Statement!CONSOLIDATED STATEMENTS OF COMP
Balance Sheet
Cash Flows!For the Three Months Ended Marc!For the Three Months Ended (1)!Cash and Cash Equivalents and R!Accumulated Depreciation AccumuDisaggregated RevenuesDisaggregated Revenues (1)Disaggregated Revenues (2)Disaggregated Revenues (3)Contract BalancesBuckthorn Renewables LLC!Investments Accounted for by th!Fair Value Accounting under ASC!Fair Value Accounting under (1)!Recurring Fair Value Measuremen!Recurring Fair Value Measur (1)!Derivative Fair Value Measu (1)!Volumetric Underlying Derivativ!Fair Value of Derivative Instru!Fair Value of Derivative In (1)!Fair Value of Derivative In (2)!Accumulated Other Comprehensive
Longterm DebtNote 8 Segment ReportingNote 8 Segment Reporting (1)Longterm Debt (1)!For the Three Months Ended (2)!For the Three Months Ended (3)
March 31 2019March 31 2019 (1)!For the Three Months Ended (4)!For the Three Months Ended (5)!For the Three Months Ended (6)December 31 2018December 31 2018 (1)!For the Three Months Ended (7)Lessee
Lessee (1)
Lessee (2)
Lessee (3)!Introduction Environmental Regu!Introduction Environmental (1)!Introduction Environmental (2)Introduction and OverviewIntroduction and Overview (1)!Consolidated Results of Operati!Consolidated Results of Ope (1)Economic Gross MarginEconomic Gross Margin (1)Interest ExpenseLiquidity PositionCredit RatingsCash Flow Discussion!Net Cash Provided By Operating !Net Cash Used in Investing Acti!Net Cash Used in Financing Acti!Derivative Fair Value Measu (2)!Derivative Fair Value Measu (3)ITEM 6 EXHIBITSU }}$ }}$} }
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Clearway Energy LLC10Q
05/07/2019*"Derivative Fair Value Measurements
March 31, 2019
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FORM 10QClearway Energy LLCRESULTS OF OPERATIONSGLOSSARY OF TERMSIncome Statement!CONSOLIDATED STATEMENTS OF COMP
Balance Sheet
Cash Flows!For the Three Months Ended Marc!For the Three Months Ended (1)!Cash and Cash Equivalents and R!Accumulated Depreciation AccumuDisaggregated RevenuesDisaggregated Revenues (1)Disaggregated Revenues (2)Disaggregated Revenues (3)Contract BalancesBuckthorn Renewables LLC!Investments Accounted for by th!Fair Value Accounting under ASC!Fair Value Accounting under (1)!Recurring Fair Value Measuremen!Recurring Fair Value Measur (1)!Derivative Fair Value Measureme!Volumetric Underlying Derivativ!Fair Value of Derivative Instru!Fair Value of Derivative In (1)!Fair Value of Derivative In (2)!Accumulated Other Comprehensive
Longterm DebtNote 8 Segment ReportingNote 8 Segment Reporting (1)Longterm Debt (1)!For the Three Months Ended (2)!For the Three Months Ended (3)
March 31 2019March 31 2019 (1)!For the Three Months Ended (4)!For the Three Months Ended (5)!For the Three Months Ended (6)December 31 2018December 31 2018 (1)!For the Three Months Ended (7)Lessee
Lessee (1)
Lessee (2)
Lessee (3)!Introduction Environmental Regu!Introduction Environmental (1)!Introduction Environmental (2)Introduction and OverviewIntroduction and Overview (1)!Consolidated Results of Operati!Consolidated Results of Ope (1)Economic Gross MarginEconomic Gross Margin (1)Interest ExpenseLiquidity PositionCredit RatingsCash Flow Discussion!Net Cash Provided By Operating !Net Cash Used in Investing Acti!Net Cash Used in Financing Acti!Derivative Fair Value Measu (2)!Derivative Fair Value Measu (3)ITEM 6 EXHIBITSU }I"}y
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Clearway Energy LLC10Q
05/07/2019*"Derivative Fair Value Measurements $
Significant Observable Input
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FORM 10QClearway Energy LLCRESULTS OF OPERATIONSGLOSSARY OF TERMSIncome Statement!CONSOLIDATED STATEMENTS OF COMP
Balance Sheet
Cash Flows!For the Three Months Ended Marc!For the Three Months Ended (1)!Cash and Cash Equivalents and R!Accumulated Depreciation AccumuDisaggregated RevenuesDisaggregated Revenues (1)Disaggregated Revenues (2)Disaggregated Revenues (3)Contract BalancesBuckthorn Renewables LLC!Investments Accounted for by th!Fair Value Accounting under ASC!Fair Value Accounting under (1)!Recurring Fair Value Measuremen!Recurring Fair Value Measur (1)!Derivative Fair Value Measureme!Derivative Fair Value Measu (1)!Fair Value of Derivative Instru!Fair Value of Derivative In (1)!Fair Value of Derivative In (2)!Accumulated Other Comprehensive
Longterm DebtNote 8 Segment ReportingNote 8 Segment Reporting (1)Longterm Debt (1)!For the Three Months Ended (2)!For the Three Months Ended (3)
March 31 2019March 31 2019 (1)!For the Three Months Ended (4)!For the Three Months Ended (5)!For the Three Months Ended (6)December 31 2018December 31 2018 (1)!For the Three Months Ended (7)Lessee
Lessee (1)
Lessee (2)
Lessee (3)!Introduction Environmental Regu!Introduction Environmental (1)!Introduction Environmental (2)Introduction and OverviewIntroduction and Overview (1)!Consolidated Results of Operati!Consolidated Results of Ope (1)Economic Gross MarginEconomic Gross Margin (1)Interest ExpenseLiquidity PositionCredit RatingsCash Flow Discussion!Net Cash Provided By Operating !Net Cash Used in Investing Acti!Net Cash Used in Financing Acti!Derivative Fair Value Measu (2)!Derivative Fair Value Measu (3)ITEM 6 EXHIBITSU }}I } $
Clearway Energy LLC10Q
05/07/20195Volumetric Underlying Derivative Transactions
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FORM 10QClearway Energy LLCRESULTS OF OPERATIONSGLOSSARY OF TERMSIncome Statement!CONSOLIDATED STATEMENTS OF COMP
Balance Sheet
Cash Flows!For the Three Months Ended Marc!For the Three Months Ended (1)!Cash and Cash Equivalents and R!Accumulated Depreciation AccumuDisaggregated RevenuesDisaggregated Revenues (1)Disaggregated Revenues (2)Disaggregated Revenues (3)Contract BalancesBuckthorn Renewables LLC!Investments Accounted for by th!Fair Value Accounting under ASC!Fair Value Accounting under (1)!Recurring Fair Value Measuremen!Recurring Fair Value Measur (1)!Derivative Fair Value Measureme!Derivative Fair Value Measu (1)!Volumetric Underlying Derivativ!Fair Value of Derivative In (1)!Fair Value of Derivative In (2)!Accumulated Other Comprehensive
Longterm DebtNote 8 Segment ReportingNote 8 Segment Reporting (1)Longterm Debt (1)!For the Three Months Ended (2)!For the Three Months Ended (3)
March 31 2019March 31 2019 (1)!For the Three Months Ended (4)!For the Three Months Ended (5)!For the Three Months Ended (6)December 31 2018December 31 2018 (1)!For the Three Months Ended (7)Lessee
Lessee (1)
Lessee (2)
Lessee (3)!Introduction Environmental Regu!Introduction Environmental (1)!Introduction Environmental (2)Introduction and OverviewIntroduction and Overview (1)!Consolidated Results of Operati!Consolidated Results of Ope (1)Economic Gross MarginEconomic Gross Margin (1)Interest ExpenseLiquidity PositionCredit RatingsCash Flow Discussion!Net Cash Provided By Operating !Net Cash Used in Investing Acti!Net Cash Used in Financing Acti!Derivative Fair Value Measu (2)!Derivative Fair Value Measu (3)ITEM 6 EXHIBITSU }$4}$
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Clearway Energy LLC10Q
05/07/2019,$Fair Value of Derivative Instruments
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FORM 10QClearway Energy LLCRESULTS OF OPERATIONSGLOSSARY OF TERMSIncome Statement!CONSOLIDATED STATEMENTS OF COMP
Balance Sheet
Cash Flows!For the Three Months Ended Marc!For the Three Months Ended (1)!Cash and Cash Equivalents and R!Accumulated Depreciation AccumuDisaggregated RevenuesDisaggregated Revenues (1)Disaggregated Revenues (2)Disaggregated Revenues (3)Contract BalancesBuckthorn Renewables LLC!Investments Accounted for by th!Fair Value Accounting under ASC!Fair Value Accounting under (1)!Recurring Fair Value Measuremen!Recurring Fair Value Measur (1)!Derivative Fair Value Measureme!Derivative Fair Value Measu (1)!Volumetric Underlying Derivativ!Fair Value of Derivative Instru!Fair Value of Derivative In (2)!Accumulated Other Comprehensive
Longterm DebtNote 8 Segment ReportingNote 8 Segment Reporting (1)Longterm Debt (1)!For the Three Months Ended (2)!For the Three Months Ended (3)
March 31 2019March 31 2019 (1)!For the Three Months Ended (4)!For the Three Months Ended (5)!For the Three Months Ended (6)December 31 2018December 31 2018 (1)!For the Three Months Ended (7)Lessee
Lessee (1)
Lessee (2)
Lessee (3)!Introduction Environmental Regu!Introduction Environmental (1)!Introduction Environmental (2)Introduction and OverviewIntroduction and Overview (1)!Consolidated Results of Operati!Consolidated Results of Ope (1)Economic Gross MarginEconomic Gross Margin (1)Interest ExpenseLiquidity PositionCredit RatingsCash Flow Discussion!Net Cash Provided By Operating !Net Cash Used in Investing Acti!Net Cash Used in Financing Acti!Derivative Fair Value Measu (2)!Derivative Fair Value Measu (3)ITEM 6 EXHIBITSU }'}$
Clearway Energy LLC10Q
05/07/2019,$Fair Value of Derivative Instruments
As of March 31, 20196
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Derivative Instruments
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Balance Sheet
Cash Flows!For the Three Months Ended Marc!For the Three Months Ended (1)!Cash and Cash Equivalents and R!Accumulated Depreciation AccumuDisaggregated RevenuesDisaggregated Revenues (1)Disaggregated Revenues (2)Disaggregated Revenues (3)Contract BalancesBuckthorn Renewables LLC!Investments Accounted for by th!Fair Value Accounting under ASC!Fair Value Accounting under (1)!Recurring Fair Value Measuremen!Recurring Fair Value Measur (1)!Derivative Fair Value Measureme!Derivative Fair Value Measu (1)!Volumetric Underlying Derivativ!Fair Value of Derivative Instru!Fair Value of Derivative In (1)!Accumulated Other Comprehensive
Longterm DebtNote 8 Segment ReportingNote 8 Segment Reporting (1)Longterm Debt (1)!For the Three Months Ended (2)!For the Three Months Ended (3)
March 31 2019March 31 2019 (1)!For the Three Months Ended (4)!For the Three Months Ended (5)!For the Three Months Ended (6)December 31 2018December 31 2018 (1)!For the Three Months Ended (7)Lessee
Lessee (1)
Lessee (2)
Lessee (3)!Introduction Environmental Regu!Introduction Environmental (1)!Introduction Environmental (2)Introduction and OverviewIntroduction and Overview (1)!Consolidated Results of Operati!Consolidated Results of Ope (1)Economic Gross MarginEconomic Gross Margin (1)Interest ExpenseLiquidity PositionCredit RatingsCash Flow Discussion!Net Cash Provided By Operating !Net Cash Used in Investing Acti!Net Cash Used in Financing Acti!Derivative Fair Value Measu (2)!Derivative Fair Value Measu (3)ITEM 6 EXHIBITSU }y#}$
Clearway Energy LLC10Q
05/07/2019,$Fair Value of Derivative Instruments
As of December 31, 20186
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Balance Sheet
Cash Flows!For the Three Months Ended Marc!For the Three Months Ended (1)!Cash and Cash Equivalents and R!Accumulated Depreciation AccumuDisaggregated RevenuesDisaggregated Revenues (1)Disaggregated Revenues (2)Disaggregated Revenues (3)Contract BalancesBuckthorn Renewables LLC!Investments Accounted for by th!Fair Value Accounting under ASC!Fair Value Accounting under (1)!Recurring Fair Value Measuremen!Recurring Fair Value Measur (1)!Derivative Fair Value Measureme!Derivative Fair Value Measu (1)!Volumetric Underlying Derivativ!Fair Value of Derivative Instru!Fair Value of Derivative In (1)!Fair Value of Derivative In (2)
Longterm DebtNote 8 Segment ReportingNote 8 Segment Reporting (1)Longterm Debt (1)!For the Three Months Ended (2)!For the Three Months Ended (3)
March 31 2019March 31 2019 (1)!For the Three Months Ended (4)!For the Three Months Ended (5)!For the Three Months Ended (6)December 31 2018December 31 2018 (1)!For the Three Months Ended (7)Lessee
Lessee (1)
Lessee (2)
Lessee (3)!Introduction Environmental Regu!Introduction Environmental (1)!Introduction Environmental (2)Introduction and OverviewIntroduction and Overview (1)!Consolidated Results of Operati!Consolidated Results of Ope (1)Economic Gross MarginEconomic Gross Margin (1)Interest ExpenseLiquidity PositionCredit RatingsCash Flow Discussion!Net Cash Provided By Operating !Net Cash Used in Investing Acti!Net Cash Used in Financing Acti!Derivative Fair Value Measu (2)!Derivative Fair Value Measu (3)ITEM 6 EXHIBITSU }7}$
Clearway Energy LLC10Q
05/07/2019,$Accumulated Other Comprehensive Loss
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Balance Sheet
Cash Flows!For the Three Months Ended Marc!For the Three Months Ended (1)!Cash and Cash Equivalents and R!Accumulated Depreciation AccumuDisaggregated RevenuesDisaggregated Revenues (1)Disaggregated Revenues (2)Disaggregated Revenues (3)Contract BalancesBuckthorn Renewables LLC!Investments Accounted for by th!Fair Value Accounting under ASC!Fair Value Accounting under (1)!Recurring Fair Value Measuremen!Recurring Fair Value Measur (1)!Derivative Fair Value Measureme!Derivative Fair Value Measu (1)!Volumetric Underlying Derivativ!Fair Value of Derivative Instru!Fair Value of Derivative In (1)!Fair Value of Derivative In (2)!Accumulated Other ComprehensiveNote 8 Segment ReportingNote 8 Segment Reporting (1)Longterm Debt (1)!For the Three Months Ended (2)!For the Three Months Ended (3)
March 31 2019March 31 2019 (1)!For the Three Months Ended (4)!For the Three Months Ended (5)!For the Three Months Ended (6)December 31 2018December 31 2018 (1)!For the Three Months Ended (7)Lessee
Lessee (1)
Lessee (2)
Lessee (3)!Introduction Environmental Regu!Introduction Environmental (1)!Introduction Environmental (2)Introduction and OverviewIntroduction and Overview (1)!Consolidated Results of Operati!Consolidated Results of Ope (1)Economic Gross MarginEconomic Gross Margin (1)Interest ExpenseLiquidity PositionCredit RatingsCash Flow Discussion!Net Cash Provided By Operating !Net Cash Used in Investing Acti!Net Cash Used in Financing Acti!Derivative Fair Value Measu (2)!Derivative Fair Value Measu (3)ITEM 6 EXHIBITSU }6}$ } '}
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05/07/2019Longterm Debt,
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FORM 10QClearway Energy LLCRESULTS OF OPERATIONSGLOSSARY OF TERMSIncome Statement!CONSOLIDATED STATEMENTS OF COMP
Balance Sheet
Cash Flows!For the Three Months Ended Marc!For the Three Months Ended (1)!Cash and Cash Equivalents and R!Accumulated Depreciation AccumuDisaggregated RevenuesDisaggregated Revenues (1)Disaggregated Revenues (2)Disaggregated Revenues (3)Contract BalancesBuckthorn Renewables LLC!Investments Accounted for by th!Fair Value Accounting under ASC!Fair Value Accounting under (1)!Recurring Fair Value Measuremen!Recurring Fair Value Measur (1)!Derivative Fair Value Measureme!Derivative Fair Value Measu (1)!Volumetric Underlying Derivativ!Fair Value of Derivative Instru!Fair Value of Derivative In (1)!Fair Value of Derivative In (2)!Accumulated Other Comprehensive
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FORM 10QClearway Energy LLCRESULTS OF OPERATIONSGLOSSARY OF TERMSIncome Statement!CONSOLIDATED STATEMENTS OF COMP
Balance Sheet
Cash Flows!For the Three Months Ended Marc!For the Three Months Ended (1)!Cash and Cash Equivalents and R!Accumulated Depreciation AccumuDisaggregated RevenuesDisaggregated Revenues (1)Disaggregated Revenues (2)Disaggregated Revenues (3)Contract BalancesBuckthorn Renewables LLC!Investments Accounted for by th!Fair Value Accounting under ASC!Fair Value Accounting under (1)!Recurring Fair Value Measuremen!Recurring Fair Value Measur (1)!Derivative Fair Value Measureme!Derivative Fair Value Measu (1)!Volumetric Underlying Derivativ!Fair Value of Derivative Instru!Fair Value of Derivative In (1)!Fair Value of Derivative In (2)!Accumulated Other Comprehensive
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Balance Sheet
Cash Flows!For the Three Months Ended Marc!For the Three Months Ended (1)!Cash and Cash Equivalents and R!Accumulated Depreciation AccumuDisaggregated RevenuesDisaggregated Revenues (1)Disaggregated Revenues (2)Disaggregated Revenues (3)Contract BalancesBuckthorn Renewables LLC!Investments Accounted for by th!Fair Value Accounting under ASC!Fair Value Accounting under (1)!Recurring Fair Value Measuremen!Recurring Fair Value Measur (1)!Derivative Fair Value Measureme!Derivative Fair Value Measu (1)!Volumetric Underlying Derivativ!Fair Value of Derivative Instru!Fair Value of Derivative In (1)!Fair Value of Derivative In (2)!Accumulated Other Comprehensive
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05/07/2019Longterm Debt *
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05/07/20191)For the Three Months Ended March 31, 2019
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FORM 10QClearway Energy LLCRESULTS OF OPERATIONSGLOSSARY OF TERMSIncome Statement!CONSOLIDATED STATEMENTS OF COMP
Balance Sheet
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05/07/20191)For the Three Months Ended March 31, 2019
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05/07/2019March 31, 2019
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05/07/2019March 31, 2019
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05/07/20191)For the Three Months Ended March 31, 2019
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FORM 10QClearway Energy LLCRESULTS OF OPERATIONSGLOSSARY OF TERMSIncome Statement!CONSOLIDATED STATEMENTS OF COMP
Balance Sheet
Cash Flows!For the Three Months Ended Marc!For the Three Months Ended (1)!Cash and Cash Equivalents and R!Accumulated Depreciation AccumuDisaggregated RevenuesDisaggregated Revenues (1)Disaggregated Revenues (2)Disaggregated Revenues (3)Contract BalancesBuckthorn Renewables LLC!Investments Accounted for by th!Fair Value Accounting under ASC!Fair Value Accounting under (1)!Recurring Fair Value Measuremen!Recurring Fair Value Measur (1)!Derivative Fair Value Measureme!Derivative Fair Value Measu (1)!Volumetric Underlying Derivativ!Fair Value of Derivative Instru!Fair Value of Derivative In (1)!Fair Value of Derivative In (2)!Accumulated Other Comprehensive
Longterm DebtNote 8 Segment ReportingNote 8 Segment Reporting (1)Longterm Debt (1)!For the Three Months Ended (2)!For the Three Months Ended (3)
March 31 2019March 31 2019 (1)!For the Three Months Ended (4)!For the Three Months Ended (6)December 31 2018December 31 2018 (1)!For the Three Months Ended (7)Lessee
Lessee (1)
Lessee (2)
Lessee (3)!Introduction Environmental Regu!Introduction Environmental (1)!Introduction Environmental (2)Introduction and OverviewIntroduction and Overview (1)!Consolidated Results of Operati!Consolidated Results of Ope (1)Economic Gross MarginEconomic Gross Margin (1)Interest ExpenseLiquidity PositionCredit RatingsCash Flow Discussion!Net Cash Provided By Operating !Net Cash Used in Investing Acti!Net Cash Used in Financing Acti!Derivative Fair Value Measu (2)!Derivative Fair Value Measu (3)ITEM 6 EXHIBITSU }8}$
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Clearway Energy LLC10Q
05/07/20191)For the Three Months Ended March 31, 2018
Clearway Energy LLC
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Clearway Energy Operating LLC
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FORM 10QClearway Energy LLCRESULTS OF OPERATIONSGLOSSARY OF TERMSIncome Statement!CONSOLIDATED STATEMENTS OF COMP
Balance Sheet
Cash Flows!For the Three Months Ended Marc!For the Three Months Ended (1)!Cash and Cash Equivalents and R!Accumulated Depreciation AccumuDisaggregated RevenuesDisaggregated Revenues (1)Disaggregated Revenues (2)Disaggregated Revenues (3)Contract BalancesBuckthorn Renewables LLC!Investments Accounted for by th!Fair Value Accounting under ASC!Fair Value Accounting under (1)!Recurring Fair Value Measuremen!Recurring Fair Value Measur (1)!Derivative Fair Value Measureme!Derivative Fair Value Measu (1)!Volumetric Underlying Derivativ!Fair Value of Derivative Instru!Fair Value of Derivative In (1)!Fair Value of Derivative In (2)!Accumulated Other Comprehensive
Longterm DebtNote 8 Segment ReportingNote 8 Segment Reporting (1)Longterm Debt (1)!For the Three Months Ended (2)!For the Three Months Ended (3)
March 31 2019March 31 2019 (1)!For the Three Months Ended (4)!For the Three Months Ended (5)December 31 2018December 31 2018 (1)!For the Three Months Ended (7)Lessee
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Clearway Energy LLC10Q
05/07/20191)For the Three Months Ended March 31, 2018
Clearway Energy LLC
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NonGuarantor Subsidiaries
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FORM 10QClearway Energy LLCRESULTS OF OPERATIONSGLOSSARY OF TERMSIncome Statement!CONSOLIDATED STATEMENTS OF COMP
Balance Sheet
Cash Flows!For the Three Months Ended Marc!For the Three Months Ended (1)!Cash and Cash Equivalents and R!Accumulated Depreciation AccumuDisaggregated RevenuesDisaggregated Revenues (1)Disaggregated Revenues (2)Disaggregated Revenues (3)Contract BalancesBuckthorn Renewables LLC!Investments Accounted for by th!Fair Value Accounting under ASC!Fair Value Accounting under (1)!Recurring Fair Value Measuremen!Recurring Fair Value Measur (1)!Derivative Fair Value Measureme!Derivative Fair Value Measu (1)!Volumetric Underlying Derivativ!Fair Value of Derivative Instru!Fair Value of Derivative In (1)!Fair Value of Derivative In (2)!Accumulated Other Comprehensive
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March 31 2019March 31 2019 (1)!For the Three Months Ended (4)!For the Three Months Ended (5)!For the Three Months Ended (6)December 31 2018 (1)!For the Three Months Ended (7)Lessee
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Clearway Energy LLC10Q
05/07/2019December 31, 2018
Clearway Energy LLC
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Clearway Energy Operating LLC
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FORM 10QClearway Energy LLCRESULTS OF OPERATIONSGLOSSARY OF TERMSIncome Statement!CONSOLIDATED STATEMENTS OF COMP
Balance Sheet
Cash Flows!For the Three Months Ended Marc!For the Three Months Ended (1)!Cash and Cash Equivalents and R!Accumulated Depreciation AccumuDisaggregated RevenuesDisaggregated Revenues (1)Disaggregated Revenues (2)Disaggregated Revenues (3)Contract BalancesBuckthorn Renewables LLC!Investments Accounted for by th!Fair Value Accounting under ASC!Fair Value Accounting under (1)!Recurring Fair Value Measuremen!Recurring Fair Value Measur (1)!Derivative Fair Value Measureme!Derivative Fair Value Measu (1)!Volumetric Underlying Derivativ!Fair Value of Derivative Instru!Fair Value of Derivative In (1)!Fair Value of Derivative In (2)!Accumulated Other Comprehensive
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Clearway Energy LLC10Q
05/07/2019December 31, 2018
Clearway Energy LLC
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NonGuarantor Subsidiaries
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Clearway Energy Operating LLC
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FORM 10QClearway Energy LLCRESULTS OF OPERATIONSGLOSSARY OF TERMSIncome Statement!CONSOLIDATED STATEMENTS OF COMP
Balance Sheet
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March 31 2019March 31 2019 (1)!For the Three Months Ended (4)!For the Three Months Ended (5)!For the Three Months Ended (6)December 31 2018December 31 2018 (1)Lessee
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Clearway Energy LLC10Q
05/07/20191)For the Three Months Ended March 31, 2018
Clearway Energy LLC
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FORM 10QClearway Energy LLCRESULTS OF OPERATIONSGLOSSARY OF TERMSIncome Statement!CONSOLIDATED STATEMENTS OF COMP
Balance Sheet
Cash Flows!For the Three Months Ended Marc!For the Three Months Ended (1)!Cash and Cash Equivalents and R!Accumulated Depreciation AccumuDisaggregated RevenuesDisaggregated Revenues (1)Disaggregated Revenues (2)Disaggregated Revenues (3)Contract BalancesBuckthorn Renewables LLC!Investments Accounted for by th!Fair Value Accounting under ASC!Fair Value Accounting under (1)!Recurring Fair Value Measuremen!Recurring Fair Value Measur (1)!Derivative Fair Value Measureme!Derivative Fair Value Measu (1)!Volumetric Underlying Derivativ!Fair Value of Derivative Instru!Fair Value of Derivative In (1)!Fair Value of Derivative In (2)!Accumulated Other Comprehensive
Longterm DebtNote 8 Segment ReportingNote 8 Segment Reporting (1)Longterm Debt (1)!For the Three Months Ended (2)!For the Three Months Ended (3)
March 31 2019March 31 2019 (1)!For the Three Months Ended (4)!For the Three Months Ended (5)!For the Three Months Ended (6)December 31 2018December 31 2018 (1)!For the Three Months Ended (7)
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Clearway Energy LLC10Q
05/07/2019Lessee
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FORM 10QClearway Energy LLCRESULTS OF OPERATIONSGLOSSARY OF TERMSIncome Statement!CONSOLIDATED STATEMENTS OF COMP
Balance Sheet
Cash Flows!For the Three Months Ended Marc!For the Three Months Ended (1)!Cash and Cash Equivalents and R!Accumulated Depreciation AccumuDisaggregated RevenuesDisaggregated Revenues (1)Disaggregated Revenues (2)Disaggregated Revenues (3)Contract BalancesBuckthorn Renewables LLC!Investments Accounted for by th!Fair Value Accounting under ASC!Fair Value Accounting under (1)!Recurring Fair Value Measuremen!Recurring Fair Value Measur (1)!Derivative Fair Value Measureme!Derivative Fair Value Measu (1)!Volumetric Underlying Derivativ!Fair Value of Derivative Instru!Fair Value of Derivative In (1)!Fair Value of Derivative In (2)!Accumulated Other Comprehensive
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March 31 2019March 31 2019 (1)!For the Three Months Ended (4)!For the Three Months Ended (5)!For the Three Months Ended (6)December 31 2018December 31 2018 (1)!For the Three Months Ended (7)Lessee
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05/07/2019Lessee +
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FORM 10QClearway Energy LLCRESULTS OF OPERATIONSGLOSSARY OF TERMSIncome Statement!CONSOLIDATED STATEMENTS OF COMP
Balance Sheet
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Clearway Energy LLC10Q
05/07/2019Lessee
(In millions)
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FORM 10QClearway Energy LLCRESULTS OF OPERATIONSGLOSSARY OF TERMSIncome Statement!CONSOLIDATED STATEMENTS OF COMP
Balance Sheet
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Longterm DebtNote 8 Segment ReportingNote 8 Segment Reporting (1)Longterm Debt (1)!For the Three Months Ended (2)!For the Three Months Ended (3)
March 31 2019March 31 2019 (1)!For the Three Months Ended (4)!For the Three Months Ended (5)!For the Three Months Ended (6)December 31 2018December 31 2018 (1)!For the Three Months Ended (7)Lessee
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Clearway Energy LLC10Q
05/07/2019Lessee
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Balance Sheet
Cash Flows!For the Three Months Ended Marc!For the Three Months Ended (1)!Cash and Cash Equivalents and R!Accumulated Depreciation AccumuDisaggregated RevenuesDisaggregated Revenues (1)Disaggregated Revenues (2)Disaggregated Revenues (3)Contract BalancesBuckthorn Renewables LLC!Investments Accounted for by th!Fair Value Accounting under ASC!Fair Value Accounting under (1)!Recurring Fair Value Measuremen!Recurring Fair Value Measur (1)!Derivative Fair Value Measureme!Derivative Fair Value Measu (1)!Volumetric Underlying Derivativ!Fair Value of Derivative Instru!Fair Value of Derivative In (1)!Fair Value of Derivative In (2)!Accumulated Other Comprehensive
Longterm DebtNote 8 Segment ReportingNote 8 Segment Reporting (1)Longterm Debt (1)!For the Three Months Ended (2)!For the Three Months Ended (3)
March 31 2019March 31 2019 (1)!For the Three Months Ended (4)!For the Three Months Ended (5)!For the Three Months Ended (6)December 31 2018December 31 2018 (1)!For the Three Months Ended (7)Lessee
Lessee (1)
Lessee (2)
Lessee (3)!Introduction Environmental (1)!Introduction Environmental (2)Introduction and OverviewIntroduction and Overview (1)!Consolidated Results of Operati!Consolidated Results of Ope (1)Economic Gross MarginEconomic Gross Margin (1)Interest ExpenseLiquidity PositionCredit RatingsCash Flow Discussion!Net Cash Provided By Operating !Net Cash Used in Investing Acti!Net Cash Used in Financing Acti!Derivative Fair Value Measu (2)!Derivative Fair Value Measu (3)ITEM 6 EXHIBITSU }0}$
Clearway Energy LLC10Q
05/07/2019YQIntroduction, Environmental, RegulatorySummary of Significant Accounting Policies
(In millions)
Conventional Generation
Renewables
TotalEnergy revenue~
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FORM 10QClearway Energy LLCRESULTS OF OPERATIONSGLOSSARY OF TERMSIncome Statement!CONSOLIDATED STATEMENTS OF COMP
Balance Sheet
Cash Flows!For the Three Months Ended Marc!For the Three Months Ended (1)!Cash and Cash Equivalents and R!Accumulated Depreciation AccumuDisaggregated RevenuesDisaggregated Revenues (1)Disaggregated Revenues (2)Disaggregated Revenues (3)Contract BalancesBuckthorn Renewables LLC!Investments Accounted for by th!Fair Value Accounting under ASC!Fair Value Accounting under (1)!Recurring Fair Value Measuremen!Recurring Fair Value Measur (1)!Derivative Fair Value Measureme!Derivative Fair Value Measu (1)!Volumetric Underlying Derivativ!Fair Value of Derivative Instru!Fair Value of Derivative In (1)!Fair Value of Derivative In (2)!Accumulated Other Comprehensive
Longterm DebtNote 8 Segment ReportingNote 8 Segment Reporting (1)Longterm Debt (1)!For the Three Months Ended (2)!For the Three Months Ended (3)
March 31 2019March 31 2019 (1)!For the Three Months Ended (4)!For the Three Months Ended (5)!For the Three Months Ended (6)December 31 2018December 31 2018 (1)!For the Three Months Ended (7)Lessee
Lessee (1)
Lessee (2)
Lessee (3)!Introduction Environmental Regu!Introduction Environmental (2)Introduction and OverviewIntroduction and Overview (1)!Consolidated Results of Operati!Consolidated Results of Ope (1)Economic Gross MarginEconomic Gross Margin (1)Interest ExpenseLiquidity PositionCredit RatingsCash Flow Discussion!Net Cash Provided By Operating !Net Cash Used in Investing Acti!Net Cash Used in Financing Acti!Derivative Fair Value Measu (2)!Derivative Fair Value Measu (3)ITEM 6 EXHIBITSU }}$
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05/07/2019YQIntroduction, Environmental, RegulatorySummary of Significant Accounting Policies
(In millions)
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FORM 10QClearway Energy LLCRESULTS OF OPERATIONSGLOSSARY OF TERMSIncome Statement!CONSOLIDATED STATEMENTS OF COMP
Balance Sheet
Cash Flows!For the Three Months Ended Marc!For the Three Months Ended (1)!Cash and Cash Equivalents and R!Accumulated Depreciation AccumuDisaggregated RevenuesDisaggregated Revenues (1)Disaggregated Revenues (2)Disaggregated Revenues (3)Contract BalancesBuckthorn Renewables LLC!Investments Accounted for by th!Fair Value Accounting under ASC!Fair Value Accounting under (1)!Recurring Fair Value Measuremen!Recurring Fair Value Measur (1)!Derivative Fair Value Measureme!Derivative Fair Value Measu (1)!Volumetric Underlying Derivativ!Fair Value of Derivative Instru!Fair Value of Derivative In (1)!Fair Value of Derivative In (2)!Accumulated Other Comprehensive
Longterm DebtNote 8 Segment ReportingNote 8 Segment Reporting (1)Longterm Debt (1)!For the Three Months Ended (2)!For the Three Months Ended (3)
March 31 2019March 31 2019 (1)!For the Three Months Ended (4)!For the Three Months Ended (5)!For the Three Months Ended (6)December 31 2018December 31 2018 (1)!For the Three Months Ended (7)Lessee
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05/07/2019YQIntroduction, Environmental, RegulatorySummary of Significant Accounting Policies
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Balance Sheet
Cash Flows!For the Three Months Ended Marc!For the Three Months Ended (1)!Cash and Cash Equivalents and R!Accumulated Depreciation AccumuDisaggregated RevenuesDisaggregated Revenues (1)Disaggregated Revenues (2)Disaggregated Revenues (3)Contract BalancesBuckthorn Renewables LLC!Investments Accounted for by th!Fair Value Accounting under ASC!Fair Value Accounting under (1)!Recurring Fair Value Measuremen!Recurring Fair Value Measur (1)!Derivative Fair Value Measureme!Derivative Fair Value Measu (1)!Volumetric Underlying Derivativ!Fair Value of Derivative Instru!Fair Value of Derivative In (1)!Fair Value of Derivative In (2)!Accumulated Other Comprehensive
Longterm DebtNote 8 Segment ReportingNote 8 Segment Reporting (1)Longterm Debt (1)!For the Three Months Ended (2)!For the Three Months Ended (3)
March 31 2019March 31 2019 (1)!For the Three Months Ended (4)!For the Three Months Ended (5)!For the Three Months Ended (6)December 31 2018December 31 2018 (1)!For the Three Months Ended (7)Lessee
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Lessee (2)
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Clearway Energy LLC10Q
05/07/2019!Introduction and Overview
Projects
Percentage Ownership
Net Capacity (MW) (a)
Offtake Counterparty
ExpirationConventional
El Segundo~
%~
"Southern California Edison ~
GenConn Devon
~
%
~
~
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Connecticut Light & Power
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GenConn Middletown~
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Marsh Landing~
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Walnut Creek~
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~
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Agua Caliente~
B %~
Pacific Gas and Electric ~
Alpine~
%~
Pacific Gas and Electric ~
Avenal~
%~
^ Pacific Gas and Electric ~
Avra Valley~
%~
jTucson Electric Power ~
Blythe~
%~
V"Southern California Edison ~
Borrego~
%~
j"San Diego Gas and Electric ~
Buckthorn Solar~
%~
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CVSR~
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Pacific Gas and Electric ~
Desert Sunlight 250~
f %~
"Southern California Edison ~
Desert Sunlight 300~
f %~
. Pacific Gas and Electric ~
Kansas South~
%~
R Pacific Gas and Electric ~
Roadrunner~
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REl Paso Electric ~
TA High Desert~
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Balance Sheet
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March 31 2019March 31 2019 (1)!For the Three Months Ended (4)!For the Three Months Ended (5)!For the Three Months Ended (6)December 31 2018December 31 2018 (1)!For the Three Months Ended (7)Lessee
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Lessee (2)
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Clearway Energy LLC10Q
05/07/2019!Introduction and Overview
Projects
Percentage Ownership
Net Capacity (MW) (a)
Offtake Counterparty
Expiration
Alta X (b)~
%~
&"Southern California Edison ~
Alta XI (b)~
%~
j"Southern California Edison ~
Buffalo Bear
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Elbow Creek (b) (f)~
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NRG Power Marketing LLC ~
Elkhorn Ridge (b) (f)̬P@ %~
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Forward (b) (f)~
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Hardin (b) (f)~
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Laredo Ridge~
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South Trent~
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AEP Energy Partners ~
Spanish Fork (b) (f)~
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Spring Canyon II (b)fffffV@ %~
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Taloga~
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Oklahoma Gas & Electric ~
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Balance Sheet
Cash Flows!For the Three Months Ended Marc!For the Three Months Ended (1)!Cash and Cash Equivalents and R!Accumulated Depreciation AccumuDisaggregated RevenuesDisaggregated Revenues (1)Disaggregated Revenues (2)Disaggregated Revenues (3)Contract BalancesBuckthorn Renewables LLC!Investments Accounted for by th!Fair Value Accounting under ASC!Fair Value Accounting under (1)!Recurring Fair Value Measuremen!Recurring Fair Value Measur (1)!Derivative Fair Value Measureme!Derivative Fair Value Measu (1)!Volumetric Underlying Derivativ!Fair Value of Derivative Instru!Fair Value of Derivative In (1)!Fair Value of Derivative In (2)!Accumulated Other Comprehensive
Longterm DebtNote 8 Segment ReportingNote 8 Segment Reporting (1)Longterm Debt (1)!For the Three Months Ended (2)!For the Three Months Ended (3)
March 31 2019March 31 2019 (1)!For the Three Months Ended (4)!For the Three Months Ended (5)!For the Three Months Ended (6)December 31 2018December 31 2018 (1)!For the Three Months Ended (7)Lessee
Lessee (1)
Lessee (2)
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Clearway Energy LLC10Q
05/07/2019*"Consolidated Results of Operations
$
Three months ended March 31,
(In millions)~
~
ChangeOperating Revenues $
Energy and capacity revenues~
~
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Other revenues~
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~
Total operating revenues~
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*"Total operating costs and expenses~
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Balance Sheet
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Longterm DebtNote 8 Segment ReportingNote 8 Segment Reporting (1)Longterm Debt (1)!For the Three Months Ended (2)!For the Three Months Ended (3)
March 31 2019March 31 2019 (1)!For the Three Months Ended (4)!For the Three Months Ended (5)!For the Three Months Ended (6)December 31 2018December 31 2018 (1)!For the Three Months Ended (7)Lessee
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Lessee (2)
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Clearway Energy LLC10Q
05/07/2019*"Consolidated Results of Operations
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~
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~
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(a)'Thermal MWt sold (in thousands)~
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Balance Sheet
Cash Flows!For the Three Months Ended Marc!For the Three Months Ended (1)!Cash and Cash Equivalents and R!Accumulated Depreciation AccumuDisaggregated RevenuesDisaggregated Revenues (1)Disaggregated Revenues (2)Disaggregated Revenues (3)Contract BalancesBuckthorn Renewables LLC!Investments Accounted for by th!Fair Value Accounting under ASC!Fair Value Accounting under (1)!Recurring Fair Value Measuremen!Recurring Fair Value Measur (1)!Derivative Fair Value Measureme!Derivative Fair Value Measu (1)!Volumetric Underlying Derivativ!Fair Value of Derivative Instru!Fair Value of Derivative In (1)!Fair Value of Derivative In (2)!Accumulated Other Comprehensive
Longterm DebtNote 8 Segment ReportingNote 8 Segment Reporting (1)Longterm Debt (1)!For the Three Months Ended (2)!For the Three Months Ended (3)
March 31 2019March 31 2019 (1)!For the Three Months Ended (4)!For the Three Months Ended (5)!For the Three Months Ended (6)December 31 2018December 31 2018 (1)!For the Three Months Ended (7)Lessee
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Clearway Energy LLC10Q
05/07/2019Economic Gross Margin
(In millions)
Conventional Generation
Renewables
Thermal
Total)!Three months ended March 31, 2019
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Longterm DebtNote 8 Segment ReportingNote 8 Segment Reporting (1)Longterm Debt (1)!For the Three Months Ended (2)!For the Three Months Ended (3)
March 31 2019March 31 2019 (1)!For the Three Months Ended (4)!For the Three Months Ended (5)!For the Three Months Ended (6)December 31 2018December 31 2018 (1)!For the Three Months Ended (7)Lessee
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Clearway Energy LLC10Q
05/07/2019Economic Gross Margin
Segment
Increase (Decrease)
Reason for Increase
(In millions)Renewables:~
3+$7 million marktomarket loss on the Elbow
1
)Creek forward power sale contract entered1)into during the first quarter of 2019, as5well as a decrease of $3 million due to lower2*wind and solar resources, partially offset3+by revenue generated at the Buckthorn Solar,$facility which went COD in July 2018Thermal:~
.&Revenues generated at the UPMC Thermal2*Project, which was completed in the secondquarter of 2018
Conventional:~
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Balance Sheet
Cash Flows!For the Three Months Ended Marc!For the Three Months Ended (1)!Cash and Cash Equivalents and R!Accumulated Depreciation AccumuDisaggregated RevenuesDisaggregated Revenues (1)Disaggregated Revenues (2)Disaggregated Revenues (3)Contract BalancesBuckthorn Renewables LLC!Investments Accounted for by th!Fair Value Accounting under ASC!Fair Value Accounting under (1)!Recurring Fair Value Measuremen!Recurring Fair Value Measur (1)!Derivative Fair Value Measureme!Derivative Fair Value Measu (1)!Volumetric Underlying Derivativ!Fair Value of Derivative Instru!Fair Value of Derivative In (1)!Fair Value of Derivative In (2)!Accumulated Other Comprehensive
Longterm DebtNote 8 Segment ReportingNote 8 Segment Reporting (1)Longterm Debt (1)!For the Three Months Ended (2)!For the Three Months Ended (3)
March 31 2019March 31 2019 (1)!For the Three Months Ended (4)!For the Three Months Ended (5)!For the Three Months Ended (6)December 31 2018December 31 2018 (1)!For the Three Months Ended (7)Lessee
Lessee (1)
Lessee (2)
Lessee (3)!Introduction Environmental Regu!Introduction Environmental (1)!Introduction Environmental (2)Introduction and OverviewIntroduction and Overview (1)!Consolidated Results of Operati!Consolidated Results of Ope (1)Economic Gross MarginEconomic Gross Margin (1)Liquidity PositionCredit RatingsCash Flow Discussion!Net Cash Provided By Operating !Net Cash Used in Investing Acti!Net Cash Used in Financing Acti!Derivative Fair Value Measu (2)!Derivative Fair Value Measu (3)ITEM 6 EXHIBITSU }=}$
Clearway Energy LLC10Q
05/07/2019Interest Expense
(In millions)
Increase (Decrease)3+Change in fair value of interest rate swaps~
%Issuance of Energy Center Minneapolis~
;
3Series E, F, G, H Notes in June 2018 and additional0(interest expense for the Buckthorn Solarprojectlevel debt4,Issuance of the 2025 Senior Notes in October~
0(2018, partially offset by lower interest1)expense due to lower outstanding balances7/on Clearway Energy Operating LLC's intercompany( notes with Clearway Energy, Inc.%Normal amortization for projectlevel~
debt~
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FORM 10QClearway Energy LLCRESULTS OF OPERATIONSGLOSSARY OF TERMSIncome Statement!CONSOLIDATED STATEMENTS OF COMP
Balance Sheet
Cash Flows!For the Three Months Ended Marc!For the Three Months Ended (1)!Cash and Cash Equivalents and R!Accumulated Depreciation AccumuDisaggregated RevenuesDisaggregated Revenues (1)Disaggregated Revenues (2)Disaggregated Revenues (3)Contract BalancesBuckthorn Renewables LLC!Investments Accounted for by th!Fair Value Accounting under ASC!Fair Value Accounting under (1)!Recurring Fair Value Measuremen!Recurring Fair Value Measur (1)!Derivative Fair Value Measureme!Derivative Fair Value Measu (1)!Volumetric Underlying Derivativ!Fair Value of Derivative Instru!Fair Value of Derivative In (1)!Fair Value of Derivative In (2)!Accumulated Other Comprehensive
Longterm DebtNote 8 Segment ReportingNote 8 Segment Reporting (1)Longterm Debt (1)!For the Three Months Ended (2)!For the Three Months Ended (3)
March 31 2019March 31 2019 (1)!For the Three Months Ended (4)!For the Three Months Ended (5)!For the Three Months Ended (6)December 31 2018December 31 2018 (1)!For the Three Months Ended (7)Lessee
Lessee (1)
Lessee (2)
Lessee (3)!Introduction Environmental Regu!Introduction Environmental (1)!Introduction Environmental (2)Introduction and OverviewIntroduction and Overview (1)!Consolidated Results of Operati!Consolidated Results of Ope (1)Economic Gross MarginEconomic Gross Margin (1)Interest ExpenseCredit RatingsCash Flow Discussion!Net Cash Provided By Operating !Net Cash Used in Investing Acti!Net Cash Used in Financing Acti!Derivative Fair Value Measu (2)!Derivative Fair Value Measu (3)ITEM 6 EXHIBITSU }:}$
Clearway Energy LLC10Q
05/07/2019Liquidity Position
(In millions)
March 31, 2019
December 31, 2018"Cash and cash equivalents:3+Clearway Energy LLC, excluding subsidiaries~
~
Subsidiaries
~
B
~
Restricted cash:Operating accounts~
~
R80Reserves, including debt service, distributions,~
~
r2*performance obligations and other reserves3+Total cash, cash equivalents and restricted~
~
cash.&Revolving credit facility availability~
~
Total liquidity~
~
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FORM 10QClearway Energy LLCRESULTS OF OPERATIONSGLOSSARY OF TERMSIncome Statement!CONSOLIDATED STATEMENTS OF COMP
Balance Sheet
Cash Flows!For the Three Months Ended Marc!For the Three Months Ended (1)!Cash and Cash Equivalents and R!Accumulated Depreciation AccumuDisaggregated RevenuesDisaggregated Revenues (1)Disaggregated Revenues (2)Disaggregated Revenues (3)Contract BalancesBuckthorn Renewables LLC!Investments Accounted for by th!Fair Value Accounting under ASC!Fair Value Accounting under (1)!Recurring Fair Value Measuremen!Recurring Fair Value Measur (1)!Derivative Fair Value Measureme!Derivative Fair Value Measu (1)!Volumetric Underlying Derivativ!Fair Value of Derivative Instru!Fair Value of Derivative In (1)!Fair Value of Derivative In (2)!Accumulated Other Comprehensive
Longterm DebtNote 8 Segment ReportingNote 8 Segment Reporting (1)Longterm Debt (1)!For the Three Months Ended (2)!For the Three Months Ended (3)
March 31 2019March 31 2019 (1)!For the Three Months Ended (4)!For the Three Months Ended (5)!For the Three Months Ended (6)December 31 2018December 31 2018 (1)!For the Three Months Ended (7)Lessee
Lessee (1)
Lessee (2)
Lessee (3)!Introduction Environmental Regu!Introduction Environmental (1)!Introduction Environmental (2)Introduction and OverviewIntroduction and Overview (1)!Consolidated Results of Operati!Consolidated Results of Ope (1)Economic Gross MarginEconomic Gross Margin (1)Interest ExpenseLiquidity PositionCash Flow Discussion!Net Cash Provided By Operating !Net Cash Used in Investing Acti!Net Cash Used in Financing Acti!Derivative Fair Value Measu (2)!Derivative Fair Value Measu (3)ITEM 6 EXHIBITSU }y#}}$ }I
Clearway Energy LLC10Q
05/07/2019Credit Ratings
S&P
Moody'sClearway Energy, Inc.
BBBa2%5.375% Senior Notes, due 2024
BBBa2%
5.750% Senior Notes, due 2025
BB
Ba2%5.000% Senior Notes, due 2026
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FORM 10QClearway Energy LLCRESULTS OF OPERATIONSGLOSSARY OF TERMSIncome Statement!CONSOLIDATED STATEMENTS OF COMP
Balance Sheet
Cash Flows!For the Three Months Ended Marc!For the Three Months Ended (1)!Cash and Cash Equivalents and R!Accumulated Depreciation AccumuDisaggregated RevenuesDisaggregated Revenues (1)Disaggregated Revenues (2)Disaggregated Revenues (3)Contract BalancesBuckthorn Renewables LLC!Investments Accounted for by th!Fair Value Accounting under ASC!Fair Value Accounting under (1)!Recurring Fair Value Measuremen!Recurring Fair Value Measur (1)!Derivative Fair Value Measureme!Derivative Fair Value Measu (1)!Volumetric Underlying Derivativ!Fair Value of Derivative Instru!Fair Value of Derivative In (1)!Fair Value of Derivative In (2)!Accumulated Other Comprehensive
Longterm DebtNote 8 Segment ReportingNote 8 Segment Reporting (1)Longterm Debt (1)!For the Three Months Ended (2)!For the Three Months Ended (3)
March 31 2019March 31 2019 (1)!For the Three Months Ended (4)!For the Three Months Ended (5)!For the Three Months Ended (6)December 31 2018December 31 2018 (1)!For the Three Months Ended (7)Lessee
Lessee (1)
Lessee (2)
Lessee (3)!Introduction Environmental Regu!Introduction Environmental (1)!Introduction Environmental (2)Introduction and OverviewIntroduction and Overview (1)!Consolidated Results of Operati!Consolidated Results of Ope (1)Economic Gross MarginEconomic Gross Margin (1)Interest ExpenseLiquidity PositionCredit Ratings!Net Cash Provided By Operating !Net Cash Used in Investing Acti!Net Cash Used in Financing Acti!Derivative Fair Value Measu (2)!Derivative Fair Value Measu (3)ITEM 6 EXHIBITSU }1}$
Clearway Energy LLC10Q
05/07/2019Cash Flow Discussion
$
Three months ended March 31,
~
~
Change
(In millions)1
)Net cash provided by operating activities~
~
~
%Net cash used in investing activities~
~
R~
J%Net cash used in financing activities~
~
~
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FORM 10QClearway Energy LLCRESULTS OF OPERATIONSGLOSSARY OF TERMSIncome Statement!CONSOLIDATED STATEMENTS OF COMP
Balance Sheet
Cash Flows!For the Three Months Ended Marc!For the Three Months Ended (1)!Cash and Cash Equivalents and R!Accumulated Depreciation AccumuDisaggregated RevenuesDisaggregated Revenues (1)Disaggregated Revenues (2)Disaggregated Revenues (3)Contract BalancesBuckthorn Renewables LLC!Investments Accounted for by th!Fair Value Accounting under ASC!Fair Value Accounting under (1)!Recurring Fair Value Measuremen!Recurring Fair Value Measur (1)!Derivative Fair Value Measureme!Derivative Fair Value Measu (1)!Volumetric Underlying Derivativ!Fair Value of Derivative Instru!Fair Value of Derivative In (1)!Fair Value of Derivative In (2)!Accumulated Other Comprehensive
Longterm DebtNote 8 Segment ReportingNote 8 Segment Reporting (1)Longterm Debt (1)!For the Three Months Ended (2)!For the Three Months Ended (3)
March 31 2019March 31 2019 (1)!For the Three Months Ended (4)!For the Three Months Ended (5)!For the Three Months Ended (6)December 31 2018December 31 2018 (1)!For the Three Months Ended (7)Lessee
Lessee (1)
Lessee (2)
Lessee (3)!Introduction Environmental Regu!Introduction Environmental (1)!Introduction Environmental (2)Introduction and OverviewIntroduction and Overview (1)!Consolidated Results of Operati!Consolidated Results of Ope (1)Economic Gross MarginEconomic Gross Margin (1)Interest ExpenseLiquidity PositionCredit RatingsCash Flow Discussion!Net Cash Used in Investing Acti!Net Cash Used in Financing Acti!Derivative Fair Value Measu (2)!Derivative Fair Value Measu (3)ITEM 6 EXHIBITSU }:}$
Clearway Energy LLC10Q
05/07/20191)Net Cash Provided By Operating Activities 1
)Changes to net cash provided by operating
(In millions)"activities were driven by:%Decrease in operating income adjusted~
for noncash items4,Decrease in working capital driven primarily~
80by the timing of accounts receivable collections'and payment of accounts payable/'Lower distributions from unconsolidated~
affiliates~
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FORM 10QClearway Energy LLCRESULTS OF OPERATIONSGLOSSARY OF TERMSIncome Statement!CONSOLIDATED STATEMENTS OF COMP
Balance Sheet
Cash Flows!For the Three Months Ended Marc!For the Three Months Ended (1)!Cash and Cash Equivalents and R!Accumulated Depreciation AccumuDisaggregated RevenuesDisaggregated Revenues (1)Disaggregated Revenues (2)Disaggregated Revenues (3)Contract BalancesBuckthorn Renewables LLC!Investments Accounted for by th!Fair Value Accounting under ASC!Fair Value Accounting under (1)!Recurring Fair Value Measuremen!Recurring Fair Value Measur (1)!Derivative Fair Value Measureme!Derivative Fair Value Measu (1)!Volumetric Underlying Derivativ!Fair Value of Derivative Instru!Fair Value of Derivative In (1)!Fair Value of Derivative In (2)!Accumulated Other Comprehensive
Longterm DebtNote 8 Segment ReportingNote 8 Segment Reporting (1)Longterm Debt (1)!For the Three Months Ended (2)!For the Three Months Ended (3)
March 31 2019March 31 2019 (1)!For the Three Months Ended (4)!For the Three Months Ended (5)!For the Three Months Ended (6)December 31 2018December 31 2018 (1)!For the Three Months Ended (7)Lessee
Lessee (1)
Lessee (2)
Lessee (3)!Introduction Environmental Regu!Introduction Environmental (1)!Introduction Environmental (2)Introduction and OverviewIntroduction and Overview (1)!Consolidated Results of Operati!Consolidated Results of Ope (1)Economic Gross MarginEconomic Gross Margin (1)Interest ExpenseLiquidity PositionCredit RatingsCash Flow Discussion!Net Cash Provided By Operating !Net Cash Used in Financing Acti!Derivative Fair Value Measu (2)!Derivative Fair Value Measu (3)ITEM 6 EXHIBITSU }:}$
Clearway Energy LLC10Q
05/07/2019%Net Cash Used in Investing Activities 8
0Changes to net cash used in investing activities
(In millions)were driven by:1)Payment for the Buckthorn Solar Drop Down~
Asset in 2018/'Payment to acquire the Class A interest~
in the Oahu Partnership1)Payment to buy out an existing tax equity~
4,partner of Wind TE Holdco on January 2, 2019.&Lower net investment in unconsolidated~
5affiliates primarily in the DGPV partnershipswith CEG during 2019
Other~
~
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FORM 10QClearway Energy LLCRESULTS OF OPERATIONSGLOSSARY OF TERMSIncome Statement!CONSOLIDATED STATEMENTS OF COMP
Balance Sheet
Cash Flows!For the Three Months Ended Marc!For the Three Months Ended (1)!Cash and Cash Equivalents and R!Accumulated Depreciation AccumuDisaggregated RevenuesDisaggregated Revenues (1)Disaggregated Revenues (2)Disaggregated Revenues (3)Contract BalancesBuckthorn Renewables LLC!Investments Accounted for by th!Fair Value Accounting under ASC!Fair Value Accounting under (1)!Recurring Fair Value Measuremen!Recurring Fair Value Measur (1)!Derivative Fair Value Measureme!Derivative Fair Value Measu (1)!Volumetric Underlying Derivativ!Fair Value of Derivative Instru!Fair Value of Derivative In (1)!Fair Value of Derivative In (2)!Accumulated Other Comprehensive
Longterm DebtNote 8 Segment ReportingNote 8 Segment Reporting (1)Longterm Debt (1)!For the Three Months Ended (2)!For the Three Months Ended (3)
March 31 2019March 31 2019 (1)!For the Three Months Ended (4)!For the Three Months Ended (5)!For the Three Months Ended (6)December 31 2018December 31 2018 (1)!For the Three Months Ended (7)Lessee
Lessee (1)
Lessee (2)
Lessee (3)!Introduction Environmental Regu!Introduction Environmental (1)!Introduction Environmental (2)Introduction and OverviewIntroduction and Overview (1)!Consolidated Results of Operati!Consolidated Results of Ope (1)Economic Gross MarginEconomic Gross Margin (1)Interest ExpenseLiquidity PositionCredit RatingsCash Flow Discussion!Net Cash Provided By Operating !Net Cash Used in Investing Acti!Derivative Fair Value Measu (2)!Derivative Fair Value Measu (3)ITEM 6 EXHIBITSU }I;}$
Clearway Energy LLC10Q
05/07/2019%Net Cash Used in Financing Activities 8
0Changes in net cash used in financing activities
(In millions)were driven by:/'Higher net repayments of longterm debt~
N2
*in 2019 compared to 2018, primarily driven91by the maturity and repayment of the intercompany0(note  due 2019 between Clearway Energy,'Inc. and Clearway Operating LLC3+Lower net contributions from noncontrolling~
*"interests in 2019 compared to 2018.&Net proceeds from the revolving credit~
facility in 2018.&Decrease in distributions paid to unit~
Bholders~
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FORM 10QClearway Energy LLCRESULTS OF OPERATIONSGLOSSARY OF TERMSIncome Statement!CONSOLIDATED STATEMENTS OF COMP
Balance Sheet
Cash Flows!For the Three Months Ended Marc!For the Three Months Ended (1)!Cash and Cash Equivalents and R!Accumulated Depreciation AccumuDisaggregated RevenuesDisaggregated Revenues (1)Disaggregated Revenues (2)Disaggregated Revenues (3)Contract BalancesBuckthorn Renewables LLC!Investments Accounted for by th!Fair Value Accounting under ASC!Fair Value Accounting under (1)!Recurring Fair Value Measuremen!Recurring Fair Value Measur (1)!Derivative Fair Value Measureme!Derivative Fair Value Measu (1)!Volumetric Underlying Derivativ!Fair Value of Derivative Instru!Fair Value of Derivative In (1)!Fair Value of Derivative In (2)!Accumulated Other Comprehensive
Longterm DebtNote 8 Segment ReportingNote 8 Segment Reporting (1)Longterm Debt (1)!For the Three Months Ended (2)!For the Three Months Ended (3)
March 31 2019March 31 2019 (1)!For the Three Months Ended (4)!For the Three Months Ended (5)!For the Three Months Ended (6)December 31 2018December 31 2018 (1)!For the Three Months Ended (7)Lessee
Lessee (1)
Lessee (2)
Lessee (3)!Introduction Environmental Regu!Introduction Environmental (1)!Introduction Environmental (2)Introduction and OverviewIntroduction and Overview (1)!Consolidated Results of Operati!Consolidated Results of Ope (1)Economic Gross MarginEconomic Gross Margin (1)Interest ExpenseLiquidity PositionCredit RatingsCash Flow Discussion!Net Cash Provided By Operating !Net Cash Used in Investing Acti!Net Cash Used in Financing Acti!Derivative Fair Value Measu (3)ITEM 6 EXHIBITSU }U5}$
Clearway Energy LLC10Q
05/07/2019NFDerivative Fair Value Measurements Fair Value of Financial Instruments *
"Derivative Activity (Losses)/Gains
(In millions)2*Fair value of contracts as of December 31,~
~
/
'Contracts realized or otherwise settled~
during the periodChanges in fair value~
4,Fair value of contracts as of March 31, 2019~
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Balance Sheet
Cash Flows!For the Three Months Ended Marc!For the Three Months Ended (1)!Cash and Cash Equivalents and R!Accumulated Depreciation AccumuDisaggregated RevenuesDisaggregated Revenues (1)Disaggregated Revenues (2)Disaggregated Revenues (3)Contract BalancesBuckthorn Renewables LLC!Investments Accounted for by th!Fair Value Accounting under ASC!Fair Value Accounting under (1)!Recurring Fair Value Measuremen!Recurring Fair Value Measur (1)!Derivative Fair Value Measureme!Derivative Fair Value Measu (1)!Volumetric Underlying Derivativ!Fair Value of Derivative Instru!Fair Value of Derivative In (1)!Fair Value of Derivative In (2)!Accumulated Other Comprehensive
Longterm DebtNote 8 Segment ReportingNote 8 Segment Reporting (1)Longterm Debt (1)!For the Three Months Ended (2)!For the Three Months Ended (3)
March 31 2019March 31 2019 (1)!For the Three Months Ended (4)!For the Three Months Ended (5)!For the Three Months Ended (6)December 31 2018December 31 2018 (1)!For the Three Months Ended (7)Lessee
Lessee (1)
Lessee (2)
Lessee (3)!Introduction Environmental Regu!Introduction Environmental (1)!Introduction Environmental (2)Introduction and OverviewIntroduction and Overview (1)!Consolidated Results of Operati!Consolidated Results of Ope (1)Economic Gross MarginEconomic Gross Margin (1)Interest ExpenseLiquidity PositionCredit RatingsCash Flow Discussion!Net Cash Provided By Operating !Net Cash Used in Investing Acti!Net Cash Used in Financing Acti!Derivative Fair Value Measu (2)ITEM 6 EXHIBITSU }*}$
Clearway Energy LLC10Q
05/07/2019NFDerivative Fair Value Measurements Fair Value of Financial Instruments
4
,Fair value of contracts as of March 31, 2019Maturity+#Fair Value Hierarchy (Losses)/Gains1 Year or LessGreater Than Greater Than
Greater Than
Total Fair
1 Year to 3 Years
3 Years to 5 Years
5 Years
Value
(In millions)Level 2~
~
~
~
~
zLevel 3~
~
~
~
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~
~
~
~
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Balance Sheet
Cash Flows!For the Three Months Ended Marc!For the Three Months Ended (1)!Cash and Cash Equivalents and R!Accumulated Depreciation AccumuDisaggregated RevenuesDisaggregated Revenues (1)Disaggregated Revenues (2)Disaggregated Revenues (3)Contract BalancesBuckthorn Renewables LLC!Investments Accounted for by th!Fair Value Accounting under ASC!Fair Value Accounting under (1)!Recurring Fair Value Measuremen!Recurring Fair Value Measur (1)!Derivative Fair Value Measureme!Derivative Fair Value Measu (1)!Volumetric Underlying Derivativ!Fair Value of Derivative Instru!Fair Value of Derivative In (1)!Fair Value of Derivative In (2)!Accumulated Other Comprehensive
Longterm DebtNote 8 Segment ReportingNote 8 Segment Reporting (1)Longterm Debt (1)!For the Three Months Ended (2)!For the Three Months Ended (3)
March 31 2019March 31 2019 (1)!For the Three Months Ended (4)!For the Three Months Ended (5)!For the Three Months Ended (6)December 31 2018December 31 2018 (1)!For the Three Months Ended (7)Lessee
Lessee (1)
Lessee (2)
Lessee (3)!Introduction Environmental Regu!Introduction Environmental (1)!Introduction Environmental (2)Introduction and OverviewIntroduction and Overview (1)!Consolidated Results of Operati!Consolidated Results of Ope (1)Economic Gross MarginEconomic Gross Margin (1)Interest ExpenseLiquidity PositionCredit RatingsCash Flow Discussion!Net Cash Provided By Operating !Net Cash Used in Investing Acti!Net Cash Used in Financing Acti!Derivative Fair Value Measu (2)!Derivative Fair Value Measu (3)U }I }$ }6}$ }$4
!
Clearway Energy LLC10Q
05/07/2019ITEM 6 EXHIBITS
Number
Description
Method of Filing333333$@/'First Amendment to Right of First Offer3+Incorporated herein by reference to Exhibit.&Agreement, dated February 14, 2019, by/'10.1 to the Registrant's Current Report
1
)and between Clearway Energy Group LLC and
/
'on Form 8K filed on February 14, 2019.Clearway Energy, Inc.?@.&Rule 13a14(a)/15d14(a) certificationFiled herewith. of Christopher S. Sotos.333333?@.&Rule 13a14(a)/15d14(a) certificationFiled herewith.of Chad Plotkin.L?@.&Rule 13a14(a)/15d14(a) certificationFiled herewith.of MaryLee Stillwell.~
#Section 1350 Certification.Furnished herewith.101 INSXBRL Instance Document.Filed herewith.101 SCH'XBRL Taxonomy Extension Schema.Filed herewith.101 CAL5XBRL Taxonomy Extension Calculation Linkbase.Filed herewith.101 DEF4,XBRL Taxonomy Extension Definition Linkbase.Filed herewith.101 LAB/'XBRL Taxonomy Extension Label Linkbase.Filed herewith.101 PRE,$XBRL Taxonomy Extension PresentationFiled herewith. Linkbase.$____________________________1)Created by Morningstar Document Research.Dnlpd(7"r6n{o 0 (http://documentresearch.morningstar.com/H=PF0*8X>
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