XML 17 R4.htm IDEA: XBRL DOCUMENT v3.22.1
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Net revenues:      
Net revenues $ 5,277,169 $ 3,476,495 $ 3,200,583
Cost of revenues:      
Cost of revenues 4,367,857 2,786,581 2,482,086
Gross profit 909,312 689,914 718,497
Operating expenses:      
Selling and distribution expenses 398,650 224,243 180,326
General and administrative expenses 308,942 225,597 242,783
Research and development expenses 58,407 45,167 47,045
Other operating income, net (47,068) (25,523) (10,536)
Total operating expenses 718,931 469,484 459,618
Income from operations 190,381 220,430 258,879
Other income (expenses):      
Interest expense (58,153) (71,874) (81,326)
Interest income 11,051 9,306 12,039
Gain (loss) on change in fair value of derivatives, net 23,785 50,001 (22,218)
Foreign exchange gain (loss) (47,234) (64,820) 10,370
Investment income (loss) 18,634 (8,559) 1,929
Other expenses, net (51,917) (85,946) (79,206)
Income before income taxes and equity in earnings of unconsolidated investees 138,464 134,484 179,673
Income tax benefit (expense) (35,844) 1,983 (42,066)
Equity in earnings (loss) of unconsolidated investees 7,256 10,779 28,948
Net income 109,876 147,246 166,555
Less: net income (loss) attributable to non-controlling interests 14,628 543 (5,030)
Net income attributable to Canadian Solar Inc. $ 95,248 $ 146,703 $ 171,585
Earnings per share - basic $ 1.55 $ 2.46 $ 2.88
Shares used in computation - basic 61,614,391 59,575,898 59,633,855
Earnings per share - diluted $ 1.46 $ 2.38 $ 2.83
Shares used in computation - diluted 68,872,102 62,306,819 60,777,696