VIE Arrangements

3 Months Ended

Mar. 31, 2024

Organization, Consolidation and Presentation of Financial Statements [Abstract]

VIE Arrangements

VIE Arrangements

The Company consolidated various VIEs at March 31, 2024 and December 31, 2023. The carrying amounts and classification of the VIEs’ assets and liabilities included in the consolidated balance sheets are as follows (in thousands):

	March 31, 2024		December 31, 2023
Assets
Current assets
Cash	$	207,883	$	254,522
Restricted cash	40,146		48,169
Accounts receivable, net	94,176		76,249
Inventories	119,803		150,065
Prepaid expenses and other current assets	209,140		161,414
Total current assets	671,148		690,419
Solar energy systems, net	10,871,862		10,469,093
Other assets	430,287		379,028
Total assets	$	11,973,297	$	11,538,540
Liabilities
Current liabilities
Accounts payable	$	6,581	$	12,187
Distributions payable to noncontrolling interests and redeemable noncontrolling interests	34,016		35,181
Accrued expenses and other liabilities	231,302		185,766
Deferred revenue, current portion	57,132		54,103
Non-recourse debt, current portion	217,075		270,460
Total current liabilities	546,106		557,697
Deferred revenue, net of current portion	697,603		654,310
Non-recourse debt, net of current portion	1,172,552		1,189,161
Other liabilities	17,592		16,816
Total liabilities	$	2,433,853	$	2,417,984

The Company holds certain variable interests in nonconsolidated VIEs established as a result of four 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.