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Consolidated Balance Sheets (Parenthetical) - USD ($)
$ in Thousands
Mar. 31, 2023
Dec. 31, 2022
Allowance for doubtful accounts $ 11,667 $ 13,381
Preferred stock, par value (in dollars per share) $ 0.0001 $ 0.0001
Preferred stock, shares authorized (in shares) 200,000,000 200,000,000
Preferred stock, shares issued (in shares) 0 0
Preferred stock, shares outstanding (in shares) 0 0
Common stock, par value (in dollars per share) $ 0.0001 $ 0.0001
Common stock, shares authorized (in shares) 2,000,000,000 2,000,000,000
Common stock, shares issued (in shares) 215,166,000 214,184,000
Common stock, shares outstanding (in shares) 215,166,000 214,184,000
Total assets [1] $ 19,728,327 $ 19,268,805
Solar energy systems, net 11,368,850 10,988,361
Cash 628,536 740,508
Restricted cash 214,542 212,367
Accounts receivable, net 218,692 214,255
Inventories 887,890 783,904
Prepaid expenses and other current assets 134,612 146,609
Other assets 1,913,615 1,827,518
Total liabilities [1] 11,560,573 11,089,788
Accounts payable 345,968 339,166
Distributions payable to noncontrolling interests and redeemable noncontrolling interests 30,621 32,050
Accrued expenses and other liabilities 381,271 406,466
Deferred revenue 1,098,260 1,095,973
Total debt, net 8,926,504 8,399,149
Other liabilities 170,267 140,290
Variable Interest Entities    
Total assets 10,468,718 10,031,506
Solar energy systems, net 9,227,988 8,968,835
Cash 395,983 457,005
Restricted cash 42,500 44,514
Accounts receivable, net 72,961 66,847
Inventories 414,407 193,836
Prepaid expenses and other current assets 12,003 12,698
Other assets 302,876 287,771
Total liabilities 2,252,395 2,227,002
Accounts payable 18,954 36,315
Distributions payable to noncontrolling interests and redeemable noncontrolling interests 30,622 32,051
Accrued expenses and other liabilities 32,118 32,512
Deferred revenue 632,088 621,457
Total debt, net 1,522,859 1,489,407
Other liabilities $ 15,754 $ 15,260
[1] The Company’s consolidated assets as of March 31, 2023 and December 31, 2022 include $10,468,718 and $10,031,506, respectively, in assets of variable interest entities (“VIEs”) that can only be used to settle obligations of the VIEs. These assets include solar energy systems, net, as of March 31, 2023 and December 31, 2022 of $9,227,988 and $8,968,835, respectively; cash as of March 31, 2023 and December 31, 2022 of $395,983 and $457,005, respectively; restricted cash as of March 31, 2023 and December 31, 2022 of $42,500 and $44,514, respectively; accounts receivable, net as of March 31, 2023 and December 31, 2022 of $72,961 and $66,847, respectively; inventories as of March 31, 2023 and December 31, 2022 of $414,407 and 193,836, respectively; prepaid expenses and other current assets as of March 31, 2023 and December 31, 2022 of $12,003 and $12,698, respectively; and other assets as of March 31, 2023 and December 31, 2022 of $302,876 and $287,771, respectively. The Company’s consolidated liabilities as of March 31, 2023 and December 31, 2022 include $2,252,395 and $2,227,002, respectively, in liabilities of VIEs whose creditors have no recourse to the Company. These liabilities include accounts payable as of March 31, 2023 and December 31, 2022 of $18,954 and $36,315, respectively; distributions payable to noncontrolling interests and redeemable noncontrolling interests as of March 31, 2023 and December 31, 2022 of $30,622 and $32,051, respectively; accrued expenses and other current liabilities as of March 31, 2023 and December 31, 2022 of $32,118 and $32,512, respectively; deferred revenue as of March 31, 2023 and December 31, 2022 of $632,088 and $621,457, respectively; non-recourse debt as of March 31, 2023 and December 31, 2022 of $1,522,859 and $1,489,407, respectively; and other liabilities as of March 31, 2023 and December 31, 2022 of $15,754 and $15,260, respectively.