VIE Arrangements

9 Months Ended

Sep. 30, 2022

Organization, Consolidation and Presentation of Financial Statements [Abstract]

VIE Arrangements

VIE Arrangements

The Company consolidated various VIEs at September 30, 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):

	September 30, 2022		December 31, 2021
Assets
Current assets
Cash	$	340,122	$	377,044
Restricted cash	77,423		70,346
Accounts receivable, net	72,125		55,714
Inventories	63,307		93,604
Prepaid expenses and other current assets	9,599		1,519
Total current assets	562,576		598,227
Solar energy systems, net	8,526,271		7,605,769
Other assets	264,320		177,224
Total assets	$	9,353,167	$	8,381,220
Liabilities
Current liabilities
Accounts payable	$	20,611	$	26,042
Distributions payable to noncontrolling interests and redeemable noncontrolling interests	38,126		31,582
Accrued expenses and other liabilities	27,994		31,036
Deferred revenue, current portion	47,750		45,956
Deferred grants, current portion	—		997
Non-recourse debt, current portion	35,699		41,284
Total current liabilities	170,180		176,897
Deferred revenue, net of current portion	551,893		484,429
Deferred grants, net of current portion	—		24,637
Non-recourse debt, net of current portion	1,401,667		1,441,324
Other liabilities	14,489		25,205
Total liabilities	$	2,138,229	$	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.