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Consolidated Balance Sheets (Parenthetical) - USD ($)
$ in Thousands
Jun. 30, 2023
Dec. 31, 2022
Allowance for doubtful accounts $ 14,485 $ 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) 217,044,000 214,184,000
Common stock, shares outstanding (in shares) 217,044,000 214,184,000
Total assets [1] $ 20,490,638 $ 19,268,805
Solar energy systems, net 11,936,621 10,988,361
Cash 669,094 740,508
Restricted cash 251,836 212,367
Accounts receivable, net 215,411 214,255
Inventories 791,740 783,904
Prepaid expenses and other current assets 154,995 146,609
Other assets 2,075,649 1,827,518
Total liabilities [1] 12,295,521 11,089,788
Accounts payable 328,827 339,166
Distributions payable to noncontrolling interests and redeemable noncontrolling interests 32,103 32,050
Accrued expenses and other liabilities 387,779 406,466
Deferred revenue 1,141,999 1,095,973
Non-recourse debt 9,603,837 8,399,149
Other liabilities 142,782 140,290
Variable Interest Entities    
Total assets 10,881,971 10,031,506
Solar energy systems, net 9,702,082 8,968,835
Cash 346,259 457,005
Restricted cash 43,898 44,514
Accounts receivable, net 86,041 66,847
Inventories 357,224 193,836
Prepaid expenses and other current assets 14,140 12,698
Other assets 332,327 287,771
Total liabilities 2,286,648 2,227,002
Accounts payable 19,907 36,315
Distributions payable to noncontrolling interests and redeemable noncontrolling interests 32,104 32,051
Accrued expenses and other liabilities 35,446 32,512
Deferred revenue 657,581 621,457
Non-recourse debt 1,525,235 1,489,407
Other liabilities $ 16,375 $ 15,260
[1] The Company’s consolidated assets as of June 30, 2023 and December 31, 2022 include $10,881,971 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 June 30, 2023 and December 31, 2022 of $9,702,082 and $8,968,835, respectively; cash as of June 30, 2023 and December 31, 2022 of $346,259 and $457,005, respectively; restricted cash as of June 30, 2023 and December 31, 2022 of $43,898 and $44,514, respectively; accounts receivable, net as of June 30, 2023 and December 31, 2022 of $86,041 and $66,847, respectively; inventories as of June 30, 2023 and December 31, 2022 of $357,224 and 193,836, respectively; prepaid expenses and other current assets as of June 30, 2023 and December 31, 2022 of $14,140 and $12,698, respectively; and other assets as of June 30, 2023 and December 31, 2022 of $332,327 and $287,771, respectively. The Company’s consolidated liabilities as of June 30, 2023 and December 31, 2022 include $2,286,648 and $2,227,002, respectively, in liabilities of VIEs whose creditors have no recourse to the Company. These liabilities include accounts payable as of June 30, 2023 and December 31, 2022 of $19,907 and $36,315, respectively; distributions payable to noncontrolling interests and redeemable noncontrolling interests as of June 30, 2023 and December 31, 2022 of $32,104 and $32,051, respectively; accrued expenses and other current liabilities as of June 30, 2023 and December 31, 2022 of $35,446 and $32,512, respectively; deferred revenue as of June 30, 2023 and December 31, 2022 of $657,581 and $621,457, respectively; non-recourse debt as of June 30, 2023 and December 31, 2022 of $1,525,235 and $1,489,407, respectively; and other liabilities as of June 30, 2023 and December 31, 2022 of $16,375 and $15,260, respectively.