VIE Arrangements

9 Months Ended

Sep. 30, 2023

Organization, Consolidation and Presentation of Financial Statements [Abstract]

VIE Arrangements

VIE Arrangements

The Company consolidated various VIEs at September 30, 2023 and December 31, 2022. The carrying amounts and classification of the VIEs’ assets and liabilities included in the consolidated balance sheets are as follows (in thousands):

	September 30, 2023		December 31, 2022
Assets
Current assets
Cash	$	250,476	$	457,005
Restricted cash	47,379		44,514
Accounts receivable, net	75,584		66,847
Inventories	264,433		193,836
Prepaid expenses and other current assets	14,043		12,698
Total current assets	651,915		774,900
Solar energy systems, net	9,942,904		8,968,835
Other assets	357,603		287,771
Total assets	$	10,952,422	$	10,031,506
Liabilities
Current liabilities
Accounts payable	$	12,296	$	36,315
Distributions payable to noncontrolling interests and redeemable noncontrolling interests	32,698		32,051
Accrued expenses and other liabilities	32,817		32,512
Deferred revenue, current portion	50,219		49,037
Non-recourse debt, current portion	256,230		39,894
Total current liabilities	384,260		189,809
Deferred revenue, net of current portion	611,932		572,420
Non-recourse debt, net of current portion	1,254,857		1,449,513
Other liabilities	16,262		15,260
Total liabilities	$	2,267,311	$	2,227,002

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.