VIE Arrangements

9 Months Ended

Sep. 30, 2021

Organization, Consolidation and Presentation of Financial Statements [Abstract]

VIE Arrangements

VIE Arrangements

The Company consolidated various VIEs at September 30, 2021 and December 31, 2020. The carrying amounts and classification of the VIEs’ assets and liabilities included in the consolidated balance sheets are as follows (in thousands):

	September 30, 2021		December 31, 2020
Assets
Current assets
Cash	$	311,416	$	219,502
Restricted cash	48,293		34,559
Accounts receivable, net	58,102		35,152
Inventories	50,226		23,306
Prepaid expenses and other current assets	2,607		2,629
Total current assets	470,644		315,148
Solar energy systems, net	7,252,540		6,748,127
Other assets	160,048		127,591
Total assets	$	7,883,232	$	7,190,866
Liabilities
Current liabilities
Accounts payable	$	28,824	$	15,609
Distributions payable to noncontrolling interests and redeemable noncontrolling interests	33,350		28,577
Accrued expenses and other liabilities	28,723		24,660
Deferred revenue, current portion	42,793		44,906
Deferred grants, current portion	999		1,007
Non-recourse debt, current portion	59,257		31,594
Total current liabilities	193,946		146,353
Deferred revenue, net of current portion	466,149		493,161
Deferred grants, net of current portion	24,945		25,891
Non-recourse debt, net of current portion	1,389,908		1,160,817
Other liabilities	25,477		31,745
Total liabilities	$	2,100,425	$	1,857,967

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.