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Fair Value of Financial Instruments (Tables)
12 Months Ended
Dec. 31, 2016
Fair Value Disclosures [Abstract]  
Schedule of Fair Value Hierarchy of Financial Assets Carried at Fair Value

 

As of December 31, 2016 and 2015, the fair value hierarchy for our financial assets and financial liabilities that are carried at fair value was as follows, and unrealized gains (losses) on financial assets and liabilities presented in the table below for all periods presented were less than $1.0 million (in thousands):

 

 

 

December 31, 2016

 

 

December 31, 2015

 

 

 

Fair Value

 

 

Level I

 

 

Level II

 

 

Level III

 

 

Fair Value

 

 

Level I

 

 

Level II

 

 

Level III

 

Money market funds

 

$

2,226,322

 

 

$

2,226,322

 

 

$

 

 

$

 

 

$

297,810

 

 

$

297,810

 

 

$

 

 

$

 

U.S. treasury bills

 

 

 

 

 

 

 

 

 

 

 

 

 

 

16,664

 

 

 

16,664

 

 

 

 

 

 

 

Interest rate swaps

 

 

1,490

 

 

 

 

 

 

1,490

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total

 

$

2,227,812

 

 

$

2,226,322

 

 

$

1,490

 

 

$

 

 

$

314,474

 

 

$

314,474

 

 

$

 

 

$

 

 

Schedule of Estimated Fair Values and their Carrying Values

The following table presents their estimated fair values and their carrying values (in thousands):  

 

 

 

December 31, 2016

 

 

December 31, 2015

 

 

 

Carrying Value

 

 

Fair Value

 

 

Carrying Value

 

 

Fair Value

 

MyPower customer notes receivable

 

$

513,002

 

 

$

513,002

 

 

 

 

 

 

 

Convertible senior notes

 

 

2,957,288

 

 

 

3,205,641

 

 

$

2,505,868

 

 

$

3,423,257

 

Participation interest

 

 

16,713

 

 

 

15,025

 

 

 

 

 

 

 

Solar asset-backed notes

 

 

442,764

 

 

 

428,551

 

 

 

 

 

 

 

Solar loan-backed notes

 

 

137,024

 

 

 

132,129