United states

TPI COMPOSITES, INC. AND SUBSIDIARIES

Consolidated Statements of Comprehensive Income (Loss)

(In thousands)

 

		Year ended December 31,
		2015				2014				2013
Net income (loss)		$	7,682			$	(6,648	)		$	(1,026	)
Other comprehensive income (loss):
Foreign currency translation adjustments			(2,363	)			(124	)			720
Comprehensive income (loss)			5,319				(6,772	)			(306	)
Comprehensive loss attributable to noncontrolling interest			—				—				2,415
Comprehensive income (loss) attributable to TPI Composites, Inc. and subsidiaries		$	5,319			$	(6,772	)		$	2,109

See accompanying notes to consolidated financial statements.

 

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TPI COMPOSITES, INC. AND SUBSIDIARIES

Consolidated Statements of Changes in Shareholders’ Deficit

(In thousands, except share data)

 

		Common								Paid-in capital				Accumulated other comprehensive income				Accumulated deficit				Total —TPI Composites, Inc. and subsidiaries				Noncontrolling interest				Total
		Shares				Amount
Balance at December 31, 2012			4,238,487			$	—			$	—			$	1,757			$	(149,565	)		$	(147,808	)		$	(2,113	)		$	(149,921	)
Net income (loss)			—				—				—				—				1,279				1,279				(2,305	)			(1,026	)
Other comprehensive income			—				—				—				830				—				830				(110	)			720
Acquisition and tax impact of noncontrolling interest			—				—				—				(125	)			(13,248	)			(13,373	)			4,528				(8,845	)
Share based compensation expense			—				—				36				—				—				36				—				36
Redeemable preferred shares fair value adjustment							—				(36	)			—				(14,113	)			(14,149	)			—				(14,149	)
Balance at December 31, 2013			4,238,487				—				—				2,462				(175,647	)			(173,185	)			—				(173,185	)
Net loss			—				—				—				—				(6,648	)			(6,648	)			—				(6,648	)
Other comprehensive loss			—				—				—				(124	)			—				(124	)			—				(124	)
Common stock warrants			—				—				—				—				845				845				—				845
Acquisition and tax impact of noncontrolling interest			—				—				—				—				760				760				—				760
Beneficial conversion feature in subordinated debt agreement			—				—				—				—				5,189				5,189				—				5,189
Redeemable preferred shares fair value adjustment			—				—				—				—				(13,930	)			(13,930	)			—				(13,930	)
Balance at December 31, 2014			4,238,487				—				—				2,338				(189,431	)			(187,093	)			—				(187,093	)
Net income			—				—				—				—				7,682				7,682				—				7,682
Other comprehensive loss			—				—				—				(2,363	)			—				(2,363	)			—				(2,363	)
Redeemable preferred shares fair value adjustment			—				—				—				—				(9,423	)			(9,423	)			—				(9,423	)
Balance at December 31, 2015			4,238,487			$	—			$	—			$	(25	)		$	(191,172	)		$	(191,197	)		$	—			$	(191,197	)

See accompanying notes to consolidated financial statements.

 

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