XML 13 R3.htm IDEA: XBRL DOCUMENT v3.24.3
Consolidated Balance Sheets (Parenthetical) - USD ($)
$ in Thousands
Sep. 30, 2024
Dec. 31, 2023
Accounts receivable, net of allowances for credit losses $ 17,024 $ 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) 224,087,000 219,392,000
Common stock, shares outstanding (in shares) 224,087,000 219,392,000
Total assets [1] $ 22,104,323 $ 20,450,237
Solar energy systems, net 14,427,903 13,028,871
Cash 533,863 678,821
Restricted cash 476,606 308,869
Accounts receivable, net 182,513 172,001
Inventories 342,348 459,746
Prepaid expenses and other current assets 67,132 262,822
Other assets 2,817,029 2,267,652
Total liabilities [1] 15,069,930 13,536,224
Accounts payable 244,184 230,723
Distributions payable to noncontrolling interests and redeemable noncontrolling interests 43,871 35,180
Accrued expenses and other liabilities 410,488 499,225
Deferred revenue 1,292,916 1,196,061
Non-recourse debt 12,452,159 10,671,928
Other liabilities 212,091 190,866
Variable Interest Entities    
Total assets 12,715,551 11,538,540
Solar energy systems, net 11,568,737 10,469,093
Cash 375,111 254,522
Restricted cash 52,033 48,169
Accounts receivable, net 96,476 76,249
Inventories 94,883 150,065
Prepaid expenses and other current assets 8,199 161,414
Other assets 520,112 379,028
Total liabilities 2,315,398 2,417,984
Accounts payable 5,816 12,187
Distributions payable to noncontrolling interests and redeemable noncontrolling interests 43,872 35,181
Accrued expenses and other liabilities 38,168 185,766
Deferred revenue 779,372 708,413
Non-recourse debt 1,430,320 1,459,621
Other liabilities $ 17,850 $ 16,816
[1] The Company’s consolidated assets as of September 30, 2024 and December 31, 2023 include $12,715,551 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 September 30, 2024 and December 31, 2023 of $11,568,737 and $10,469,093, respectively; cash as of September 30, 2024 and December 31, 2023 of $375,111 and $254,522, respectively; restricted cash as of September 30, 2024 and December 31, 2023 of $52,033 and $48,169, respectively; accounts receivable, net as of September 30, 2024 and December 31, 2023 of $96,476 and $76,249, respectively; inventories as of September 30, 2024 and December 31, 2023 of $94,883 and $150,065, respectively; prepaid expenses and other current assets as of September 30, 2024 and December 31, 2023 of $8,199 and $161,414, respectively; and other assets as of September 30, 2024 and December 31, 2023 of $520,112 and $379,028, respectively. The Company’s consolidated liabilities as of September 30, 2024 and December 31, 2023 include $2,315,398 and $2,417,984, respectively, in liabilities of VIEs whose creditors have no recourse to the Company. These liabilities include accounts payable as of September 30, 2024 and December 31, 2023 of $5,816 and $12,187, respectively; distributions payable to noncontrolling interests and redeemable noncontrolling interests as of September 30, 2024 and December 31, 2023 of $43,872 and $35,181, respectively; accrued expenses and other current liabilities as of September 30, 2024 and December 31, 2023 of $38,168 and $185,766, respectively; deferred revenue as of September 30, 2024 and December 31, 2023 of $779,372 and $708,413, respectively; non-recourse debt as of September 30, 2024 and December 31, 2023 of $1,430,320 and $1,459,621, respectively; and other liabilities as of September 30, 2024 and December 31, 2023 of $17,850 and $16,816, respectively.