Debt (Tables)

12 Months Ended

Dec. 31, 2021

Debt Disclosure [Abstract]

Summary of Debt and Finance Leases

The following is a summary of our debt and finance leases as of December 31, 2021 (in millions):

						Unpaid		Unused
	Net Carrying Value					Principal		Committed		Contractual		Contractual
	Current			Long-Term		Balance		Amount (1)		Interest Rates		Maturity Date
Recourse debt:
2022 Notes	$		29	$	—	$	29	$	—	2.375	%	March 2022
2024 Notes			1		89		91		—	2.00	%	May 2024
Credit Agreement			—		1,250		1,250		920	3.3	%	July 2023
Solar Bonds		0			7		7		—	4.0-5.8	%	January 2022 - January 2031
Total recourse debt			30		1,346		1,377		920
Non-recourse debt:
Automotive Asset-backed Notes			1,007		1,706		2,723		—	0.1%-5.5	%	September 2022-September 2025
Solar Asset and Loan-backed Notes			27		800		844		—	2.9%-7.7	%	September 2024-September 2049
Cash Equity Debt			24		388		422		—	5.3-5.8	%	July 2033-January 2035
Automotive Lease-backed Credit Facilities			—		—		—		167	Not applicable		September 2023
Other Loans			—		14		14		21	5.1	%	February 2033
Total non-recourse debt			1,058		2,908		4,003		188
Total debt			1,088		4,254	$	5,380	$	1,108
Finance leases			501		991
Total debt and finance leases	$		1,589	$	5,245

The following is a summary of our debt and finance leases as of December 31, 2020 (in millions):

					Unpaid		Unused
	Net Carrying Value				Principal		Committed		Contractual		Contractual
	Current		Long-Term		Balance		Amount (1)		Interest Rates		Maturity Date
Recourse debt:
2021 Notes	$	419	$	—	$	422	$	—	1.25	%	March 2021
2022 Notes		115		366		503		—	2.375	%	March 2022
2024 Notes		171		856		1,282		—	2.00	%	May 2024
2025 Notes		—		1,785		1,800		—	5.30	%	August 2025
Credit Agreement		—		1,895		1,895		278	3.3	%	July 2023
Solar Bonds and other Loans		4		49		55		—	3.6%-5.8	%	January 2021 - January 2031
Total recourse debt		709		4,951		5,957		278
Non-recourse debt:
Automotive Asset-backed Notes		777		921		1,705		—	0.6%-7.9	%	August 2021-August 2024
Solar Asset and Loan-backed Notes		52		1,209		1,293		—	3.0%-7.7	%	September 2024-September 2049
China Loan Agreements		—		616		616		1,372	4.0	%	June 2021-December 2024
Cash Equity Debt		18		408		439		—	5.3%-5.8	%	July 2033-January 2035
Warehouse Agreement		37		257		294		806	1.7%-1.8	%	September 2022
Solar Term Loan		151		—		151		—	3.7	%	January 2021
Automotive Lease-backed Credit Facility		14		19		33		153	1.9%-5.9	%	September 2022-November 2022
Solar Revolving Credit Facility and    other Loans		—		81		81		23	2.7%-5.1	%	June 2022-February 2033
Total non-recourse debt		1,049		3,511		4,612		2,354
Total debt		1,758		8,462	$	10,569	$	2,632
Finance leases		374		1,094
Total debt and finance leases	$	2,132	$	9,556

(1)There are no restrictions on draw-down or use for general corporate purposes with respect to any available committed funds under our credit facilities, except certain specified conditions prior to draw-down, including pledging to our lenders sufficient amounts of qualified receivables, inventories, leased vehicles and our interests in those leases, solar energy systems and the associated customer contracts or various other assets and as may be described below.

Schedule of Interest Expense

The following table presents the interest expense related to the contractual interest coupon, the amortization of debt issuance costs and the amortization of debt discounts on our convertible senior notes with cash conversion features, which include the 2021 Notes, the 2022 Notes and the 2024 Notes (in millions):

	Year Ended December 31,
	2021		2020		2019
Contractual interest coupon	$	12	$	73	$	65
Amortization of debt issuance costs		5		7		7
Amortization of debt discounts (1)		—		173		148
Losses on extinguishment of debt (1)		—		105		—
Total	$	17	$	358	$	220

(1)Under the modified retrospective method of adoption of ASU 2020-06, there was neither amortization of debt discounts, nor losses on extinguishment of debt recognized for the year ended December 31, 2021. Refer to discussion above for further details.

Schedule of Future Principal Maturities of Debt

The future scheduled principal maturities of debt as of December 31, 2021 were as follows (in millions):

	Recourse debt		Non-recourse debt		Total
2022	$	30	$	1,065	$	1,095
2023		1,250		1,206		2,456
2024		90		970		1,060
2025		4		174		178
2026		—		64		64
Thereafter		3		524		527
Total	$	1,377	$	4,003	$	5,380