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Consolidated Balance Sheets (Parenthetical) - USD ($)
$ in Thousands
Sep. 30, 2023
Dec. 31, 2022
Accounts receivable, net of allowances for credit losses $ 14,050 $ 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) 217,714,000 214,184,000
Common stock, shares outstanding (in shares) 217,714,000 214,184,000
Total assets [1] $ 20,027,115 $ 19,268,805
Solar energy systems, net 12,528,617 10,988,361
Cash 643,787 740,508
Restricted cash 308,010 212,367
Accounts receivable, net 188,892 214,255
Inventories 661,801 783,904
Prepaid expenses and other current assets 126,028 146,609
Other assets 2,318,376 1,827,518
Total liabilities [1] 12,952,737 11,089,788
Accounts payable 296,453 339,166
Distributions payable to noncontrolling interests and redeemable noncontrolling interests 32,697 32,050
Accrued expenses and other liabilities 381,453 406,466
Deferred revenue 1,154,784 1,095,973
Non-recourse debt 10,237,544 8,399,149
Other liabilities 138,058 140,290
Variable Interest Entities    
Total assets 10,952,422 10,031,506
Solar energy systems, net 9,942,904 8,968,835
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
Other assets 357,603 287,771
Total liabilities 2,267,311 2,227,002
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 662,151 621,457
Non-recourse debt 1,511,087 1,489,407
Other liabilities $ 16,262 $ 15,260
[1] The Company’s consolidated assets as of September 30, 2023 and December 31, 2022 include $10,952,422 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 September 30, 2023 and December 31, 2022 of $9,942,904 and $8,968,835, respectively; cash as of September 30, 2023 and December 31, 2022 of $250,476 and $457,005, respectively; restricted cash as of September 30, 2023 and December 31, 2022 of $47,379 and $44,514, respectively; accounts receivable, net as of September 30, 2023 and December 31, 2022 of $75,584 and $66,847, respectively; inventories as of September 30, 2023 and December 31, 2022 of $264,433 and $193,836, respectively; prepaid expenses and other current assets as of September 30, 2023 and December 31, 2022 of $14,043 and $12,698, respectively; and other assets as of September 30, 2023 and December 31, 2022 of $357,603 and $287,771, respectively. The Company’s consolidated liabilities as of September 30, 2023 and December 31, 2022 include $2,267,311 and $2,227,002, respectively, in liabilities of VIEs whose creditors have no recourse to the Company. These liabilities include accounts payable as of September 30, 2023 and December 31, 2022 of $12,296 and $36,315, respectively; distributions payable to noncontrolling interests and redeemable noncontrolling interests as of September 30, 2023 and December 31, 2022 of $32,698 and $32,051, respectively; accrued expenses and other current liabilities as of September 30, 2023 and December 31, 2022 of $32,817 and $32,512, respectively; deferred revenue as of September 30, 2023 and December 31, 2022 of $662,151 and $621,457, respectively; non-recourse debt as of September 30, 2023 and December 31, 2022 of $1,511,087 and $1,489,407, respectively; and other liabilities as of September 30, 2023 and December 31, 2022 of $16,262 and $15,260, respectively.