VIE Arrangements

The Company consolidated various VIEs at June 30, 2018 and December 31, 2017. The carrying amounts and classification of the VIEs’ assets and liabilities included in the consolidated balance sheets are as follows (in thousands):



	June 30, 2018		December 31, 2017
Assets
Current assets
Cash	$	90,445	$	118,352
Restricted cash	1,044		2,699
Accounts receivable, net	70,108		57,402
Prepaid expenses and other current assets	465		917
Total current assets	162,062		179,370
Solar energy systems, net	2,627,741		2,385,329
Other assets	8,730		3,679
Total assets	$	2,798,533	$	2,568,378
Liabilities
Current liabilities
Accounts payable	$	17,104	$	15,929
Distributions payable to noncontrolling interests and redeemable noncontrolling interests	15,013		13,526
Accrued expenses and other liabilities	6,260		5,200
Deferred revenue, current portion	30,410		28,695
Deferred grants, current portion	1,016		1,021
Non-recourse debt, current portion	2,140		11,179
Total current liabilities	71,943		75,550
Deferred revenue, net of current portion	389,830		381,066
Deferred grants, net of current portion	28,748		29,385
Non-recourse debt, net of current portion	194,044		190,106
Other liabilities	9,454		1,848
Total liabilities	$	694,019	$	677,955

The Company holds a variable interest in an entity that provides the noncontrolling interest with a right to terminate the leasehold interests in all of the leased projects on the tenth anniversary of the effective date of the master lease. In this circumstance, the Company would be required to pay the noncontrolling interest an amount equal to the fair market value, as defined in the governing agreement of all leased projects as of that date.

The Company holds certain variable interests in nonconsolidated VIEs established as a result of five pass-through financing obligation Fund arrangements as further explained in Note 10, Pass-through Financing Obligations. The Company does not have material exposure to losses as a result of its involvement with the VIEs in excess of the amount of the pass-through financing obligation recorded in the Company’s consolidated financial statements. The Company is not considered the primary beneficiary of these VIEs.