VIE Arrangements

3 Months Ended

Mar. 31, 2025

Organization, Consolidation and Presentation of Financial Statements [Abstract]

VIE Arrangements

VIE Arrangements

The Company consolidated various VIEs at March 31, 2025 and December 31, 2024. The carrying amounts and classification of the VIEs’ assets and liabilities included in the consolidated balance sheets are as follows (in thousands):

	March 31, 2025		December 31, 2024
Assets
Current assets
Cash	$	297,876	$	420,756
Restricted cash	55,122		57,892
Accounts receivable, net	99,407		92,259
Inventories	74,392		62,581
Prepaid expenses and other current assets	7,910		7,616
Total current assets	534,707		641,104
Solar energy systems, net	12,616,917		12,062,819
Other assets	643,675		586,293
Total assets	$	13,795,299	$	13,290,216
Liabilities
Current liabilities
Accounts payable	$	5,635	$	5,400
Distributions payable to noncontrolling interests and redeemable noncontrolling interests	37,817		41,465
Accrued expenses and other liabilities	42,689		42,997
Deferred revenue, current portion	65,524		62,278
Non-recourse debt, current portion	55,849		60,292
Total current liabilities	207,514		212,432
Deferred revenue, net of current portion	798,638		764,576
Non-recourse debt, net of current portion	1,322,256		1,347,492
Other liabilities	18,831		18,540
Total liabilities	$	2,347,239	$	2,343,040