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424B3
SUNEDISON, INC. filed this Form 424B3 on 09/10/2013
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Table of Contents

SUMMARY CONSOLIDATED FINANCIAL AND OTHER DATA

The following summary consolidated financial data of SunEdison for each of the three years ended December 31, 2012, 2011 and 2010 has been derived from our audited consolidated financial statements and notes thereto, which are incorporated by reference in this prospectus supplement. The summary consolidated financial data for the six months ended June 30, 2013 and 2012 was derived from our unaudited condensed consolidated financial statements and notes thereto, which are incorporated by reference in this prospectus supplement, which in management’s opinion, reflect all adjustments, consisting of only normal and recurring adjustments, necessary for a fair presentation of such information. Results for the interim periods are not necessarily indicative of the results that might be expected for any other interim period or for an entire year. This information should be read in conjunction with “Selected Financial Data,” “Management’s Discussion and Analysis of Financial Condition and Results of Operations” for fiscal 2012 and our consolidated financial statements and notes thereto for fiscal 2012, included in our Annual Report on Form 10-K for the year ended December 31, 2012, and with “Management’s Discussion and Analysis of Financial Condition and Results of Operations” for the second quarter of fiscal 2013 and our unaudited condensed consolidated financial statements and notes thereto for the six months ended June 30, 2013 and 2012, included in our Quarterly Report on Form 10-Q for the quarter ended June 30, 2013, each of which is incorporated by reference in this prospectus supplement.

 

     Six Months Ended
June 30,
    Fiscal Year Ended
December 31,
 
     2013     2012     2012     2011 (1)     2010 (1)  
(in millions, except per share)    (unaudited)                    

Statement of Operations Data:

          

Net sales:

          

Semiconductor Materials segment

   $ 468.8      $ 448.7      $ 917.5      $ 1,023.1      $ 992.6   

Solar Energy segment (2)

     376.1        878.9        1,612.4        1,692.4        1,246.6   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Consolidated net sales

     844.9        1,327.6        2,529.9        2,715.5        2,239.2   

Cost of goods sold

     746.0        1,187.1        2,194.3        2,420.6        1,902.1   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Gross profit

     98.9        140.5        335.6        294.9        337.1   

Operating expenses:

          

Marketing and administration (3)

     149.1        169.4        306.2        352.8        267.0   

Research and development

     35.5        38.4        71.8        87.5        55.6   

Goodwill impairment charges (4)

     —          —          —          440.5        —     

Restructuring (reversals) charges (5)

     (5.6     2.2        (83.5     350.7        5.3   

Gain on receipt of property, plant and equipment (5)

     —          —          (31.7     —          —     

Long-lived asset impairment charges (6)

     —          —          19.6        367.9        —     

Insurance recovery

     —          —          (4.0     (4.0     (11.9
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Total operating expenses

     179.0        210.0        278.4        1,595.4        316.0   

Operating income (loss):

          

Semiconductor Materials segment

     5.0        (16.8     (5.0     (31.1     68.2   

Solar Energy segment

     (36.0     (5.4     162.2        (1,144.0     76.2   

Corporate and other

     (49.1     (47.3     (100.0     (125.4     (123.3
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Consolidated operating income (loss)

     (80.1     (69.5     57.2        (1,300.5     21.1   

Non-operating expense (7)

     84.3        72.9        138.7        83.6        33.6   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Loss before income tax expense (benefit) and equity in (loss) earnings of joint ventures

     (164.4     (142.4     (81.5     (1,384.1     (12.5

Income tax expense (benefit)

     33.1        31.2        64.9        73.1        (53.3
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

(Loss) income before equity in (loss) earnings of joint ventures

     (197.5     (173.6     (146.4     1,457.2     40.8   

Equity in (loss) earnings of joint ventures, net of tax

     (0.3     (1.8     (2.3     (62.8     7.2   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Net (loss) income

     (197.8     (175.4     (148.7     (1,520.0     48.0   

Net income attributable to noncontrolling interests

     5.5        (0.4     (1.9     (16.0     (13.6
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Net (loss) income attributable to SunEdison stockholders (8),(9),(10)

   $ (192.3   $ (175.8   $ (150.6   $ (1,536.0   $ 34.4   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Basic (loss) income per share

   $ (0.85   $ (0.76   $ (0.66   $ (6.68   $ 0.15   

Diluted (loss) income per share

   $ (0.85   $ (0.76   $ (0.66   $ (6.68   $ 0.15   

Weighted-average shares outstanding:

          

Basic

     231.5        230.8        230.9        229.9        226.9   

Diluted

     231.5        230.8        230.9        229.9        230.2   

 

 

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