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VIE Arrangements
 6 Months Ended
Jun. 30, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
VIE Arrangements VIE Arrangements
The Company consolidated various VIEs at June 30, 2020 and December 31, 2019. The carrying amounts and classification of the VIEs’ assets and liabilities included in the consolidated balance sheets are as follows (in thousands):
June 30, 2020December 31, 2019
Assets
Current assets
Cash$155,239  $133,362  
Restricted cash12,411  2,746  
Accounts receivable, net25,530  21,956  
Inventories94,175  15,721  
Prepaid expenses and other current assets1,480  554  
Total current assets288,835  174,339  
Solar energy systems, net3,557,831  3,259,712  
Other assets102,257  87,151  
Total assets$3,948,923  $3,521,202  
Liabilities
Current liabilities
Accounts payable$14,306  $11,531  
Distributions payable to noncontrolling interests and redeemable noncontrolling interests
17,701  16,012  
Accrued expenses and other liabilities14,095  10,740  
Deferred revenue, current portion40,514  38,265  
Deferred grants, current portion1,011  1,011  
Non-recourse debt, current portion39,361  4,901  
Total current liabilities126,988  82,460  
Deferred revenue, net of current portion465,972  443,873  
Deferred grants, net of current portion26,505  27,023  
Non-recourse debt, net of current portion238,055  201,575  
Other liabilities36,929  19,633  
Total liabilities$894,449  $774,564  
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 six pass-through 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.