XML 14 R3.htm IDEA: XBRL DOCUMENT v3.24.1.u1
Consolidated Balance Sheets (Parenthetical) - USD ($)
$ in Thousands
Mar. 31, 2024
Dec. 31, 2023
Accounts receivable, net of allowances for credit losses $ 16,015 $ 19,042
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) 220,672,000 219,392,000
Beginning balance (in shares) 220,672,000 219,392,000
Total assets [1] $ 20,834,343 $ 20,450,237
Solar energy systems, net 13,422,536 13,028,871
Cash 487,280 678,821
Restricted cash 295,751 308,869
Accounts receivable, net 169,661 172,001
Inventories 411,993 459,746
Prepaid expenses and other current assets 305,921 262,822
Other assets 2,461,720 2,267,652
Total liabilities [1] 14,075,960 13,536,224
Accounts payable 286,923 230,723
Distributions payable to noncontrolling interests and redeemable noncontrolling interests 34,039 35,180
Accrued expenses and other liabilities 538,117 499,225
Deferred revenue 1,230,064 1,196,061
Non-recourse debt 11,148,061 10,671,928
Other liabilities 147,204 190,866
Variable Interest Entities    
Total assets 11,973,297 11,538,540
Solar energy systems, net 10,871,862 10,469,093
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
Other assets 430,287 379,028
Total liabilities 2,433,853 2,417,984
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 754,735 708,413
Non-recourse debt 1,389,627 1,459,621
Other liabilities $ 17,592 $ 16,816
[1] The Company’s consolidated assets as of March 31, 2024 and December 31, 2023 include $11,973,297 and $11,538,540, 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, 2024 and December 31, 2023 of $10,871,862 and $10,469,093, respectively; cash as of March 31, 2024 and December 31, 2023 of $207,883 and $254,522, respectively; restricted cash as of March 31, 2024 and December 31, 2023 of $40,146 and $48,169, respectively; accounts receivable, net as of March 31, 2024 and December 31, 2023 of $94,176 and $76,249, respectively; inventories as of March 31, 2024 and December 31, 2023 of $119,803 and $150,065, respectively; prepaid expenses and other current assets as of March 31, 2024 and December 31, 2023 of $209,140 and $161,414, respectively; and other assets as of March 31, 2024 and December 31, 2023 of $430,287 and $379,028, respectively. The Company’s consolidated liabilities as of March 31, 2024 and December 31, 2023 include $2,433,853 and $2,417,984, respectively, in liabilities of VIEs whose creditors have no recourse to the Company. These liabilities include accounts payable as of March 31, 2024 and December 31, 2023 of $6,581 and $12,187, respectively; distributions payable to noncontrolling interests and redeemable noncontrolling interests as of March 31, 2024 and December 31, 2023 of $34,016 and $35,181, respectively; accrued expenses and other current liabilities as of March 31, 2024 and December 31, 2023 of $231,302 and $185,766, respectively; deferred revenue as of March 31, 2024 and December 31, 2023 of $754,735 and $708,413, respectively; non-recourse debt as of March 31, 2024 and December 31, 2023 of $1,389,627 and $1,459,621, respectively; and other liabilities as of March 31, 2024 and December 31, 2023 of $17,592 and $16,816, respectively.