VIE Arrangements

3 Months Ended

Mar. 31, 2022

Organization, Consolidation and Presentation of Financial Statements [Abstract]

VIE Arrangements

VIE Arrangements

The Company consolidated various VIEs at March 31, 2022 and December 31, 2021. The carrying amounts and classification of the VIEs’ assets and liabilities included in the consolidated balance sheets are as follows (in thousands):

	March 31, 2022		December 31, 2021
Assets
Current assets
Cash	$	306,124	$	377,044
Restricted cash	66,918		70,346
Accounts receivable, net	72,691		55,714
Inventories	98,023		93,604
Prepaid expenses and other current assets	1,585		1,519
Total current assets	545,341		598,227
Solar energy systems, net	7,888,322		7,605,769
Other assets	206,311		177,224
Total assets	$	8,639,974	$	8,381,220
Liabilities
Current liabilities
Accounts payable	$	27,488	$	26,042
Distributions payable to noncontrolling interests and redeemable noncontrolling interests	30,661		31,582
Accrued expenses and other liabilities	25,302		31,036
Deferred revenue, current portion	42,776		45,956
Deferred grants, current portion	—		997
Non-recourse debt, current portion	34,558		41,284
Total current liabilities	160,785		176,897
Deferred revenue, net of current portion	490,856		484,429
Deferred grants, net of current portion	—		24,637
Non-recourse debt, net of current portion	1,419,336		1,441,324
Other liabilities	16,197		25,205
Total liabilities	$	2,087,174	$	2,152,492

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.