Business Context and Reporting Period
Company: Algonquin Power & Utilities Corp.
Filing Type: Form 6-K (Report of Foreign Private Issuer)
Date Filed: August 9, 2018
Reporting Period: This filing does not report new operational results for a specific quarter or year. Instead, it serves as an amendment to retrospectively apply a change in reporting currency to the Company's Annual Report on Form 40-F (filed March 8, 2018) covering the years ended December 31, 2017, and 2016.
Key Financial Metrics
This filing does not contain specific revenue, profit, cash flow, margin, debt, or liquidity figures. The document is a procedural filing to reissue previously audited financial statements and Management's Discussion and Analysis (MD&A) to reflect a change in reporting currency from Canadian dollars to U.S. dollars effective January 1, 2018.
Material Changes Versus Prior Period
- Reporting Currency Change: The primary material change is the revision of financial statements to use U.S. dollars as the reporting currency, effective January 1, 2018.
- Retrospective Application: The Company is amending and refiling its 2017 and 2016 financial statements to retrospectively apply this currency change.
- Accounting Principles: The revision includes the adoption of applicable new accounting principles and updates to subsequent events disclosures.
Guidance, Outlook, and Risks
The filing text does not provide new management guidance, outlook, or specific risk factors. It references Note 1(a) of the amended financial statements (Exhibit 99.1) for details regarding the effects of the currency change and accounting principle adoptions. The filing is incorporated by reference into various registration statements (Forms S-8, F-10, and F-3D).
Investor Verification Checklist
- Verify the specific impact of the currency conversion on reported earnings and assets by reviewing the reissued Audited Annual Financial Statements (Exhibit 99.1).
- Review the amended Management's Discussion and Analysis (Exhibit 99.2) for updated commentary on the 2016 and 2017 periods under the new U.S. dollar reporting standard.
- Confirm the details of the "new accounting principles" adopted as mentioned in the Explanatory Note by examining Note 1(a) of the attached financial statements.