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CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($)
$ in Thousands
Jun. 30, 2015
Dec. 31, 2014
Current assets:    
Cash and cash equivalents $ 116,610 $ 152,154
Restricted cash 5,764 2,534
Accounts receivable (net of allowances for doubtful accounts of $1,045 and $703 as of June 30, 2015 and December 31, 2014, respectively) 49,619 43,189
Grants receivable   5,183
Inventories 37,804 23,914
Prepaid expenses and other current assets 16,698 9,560
Deferred tax assets, current 2,559 3,048
Total current assets 229,054 239,582
Restricted cash 7,390 6,012
Solar energy systems, net 1,695,728 1,480,223
Property and equipment, net 27,229 22,195
Intangible assets, net 24,808 13,111
Goodwill 87,555 51,786
Prepaid tax asset 142,785 109,381
Other assets 26,201 13,342
Total assets [1] 2,240,750 1,935,632
Current liabilities:    
Accounts payable 69,566 51,166
Distributions payable to noncontrolling interests and redeemable noncontrolling interests 6,463 6,764
Accrued expenses and other liabilities 42,833 25,445
Deferred revenue, current portion 51,929 44,398
Deferred grants, current portion 14,002 13,754
Capital lease obligation, current portion 3,928 1,593
Long-term debt, current portion 1,824 2,602
Lease pass-through financing obligation, current portion 3,321 5,161
Total current liabilities 193,866 150,883
Deferred revenue, net of current portion 510,346 467,726
Deferred grants, net of current portion 219,380 226,801
Capital lease obligation, net of current portion 7,210 5,761
Line of credit 140,024 48,597
Long-term debt, net of current portion 195,874 188,052
Lease pass-through financing obligation, net of current portion 203,392 180,224
Other liabilities 3,431 2,424
Deferred tax liabilities 145,344 112,597
Total liabilities [1] 1,618,867 1,383,065
Redeemable noncontrolling interests 151,288 135,948
Stockholders’ equity:    
Common stock, $0.0001 par value—authorized, 125,047 and 119,547 shares as of June 30, 2015 and December 31, 2014, respectively; issued and outstanding, 26,503 and 24,429 shares as of June 30, 2015 and December 31, 2014, respectively 2 2
Additional paid-in capital 411,890 383,860
Accumulated other comprehensive loss 1,425  
Accumulated deficit (69,458) (59,003)
Total stockholders’ equity 343,864 324,864
Noncontrolling interests 126,731 91,755
Total equity 470,595 416,619
Total liabilities, redeemable noncontrolling interests and total equity 2,240,750 1,935,632
Convertible Preferred Stock    
Stockholders’ equity:    
Convertible preferred stock, $0.0001 par value—authorized, 57,028 shares as of June 30, 2015 and December 31, 2014, respectively; issued and outstanding, 54,841 and 54,841 shares as of June 30, 2015 and December 31, 2014, respectively; aggregate liquidation value of $305,883 as of June 30, 2015 and December 31, 2014, respectively $ 5 $ 5
[1] The Company’s consolidated assets as of June 30, 2015 and December 31, 2014 include $1,202,608 (unaudited) and $986,878, respectively, in assets of variable interest entities, or VIEs, that can only be used to settle obligations of the VIEs. Solar energy systems, net, as of June 30, 2015 and December 31, 2014 were $1,113,088 (unaudited) and $942,655, respectively; cash and cash equivalents as of June 30, 2015 and December 31, 2014 were $72,983 (unaudited) and $29,099, respectively; restricted cash as of June 30, 2015 and December 31, 2014 were $729 (unaudited) and $593, respectively; accounts receivable, net as of June 30, 2015 and December 31, 2014 were $15,609 (unaudited) and $14,351. respectively; prepaid expenses and other current assets as of June 30, 2015 and December 31, 2014 were $199 (unaudited) and $180, respectively. The Company’s consolidated liabilities as of June 30, 2015 and December 31, 2014 include $504,377 (unaudited) and $474,348, respectively, in liabilities of VIEs whose creditors have no recourse to the Company. These liabilities include accounts payable as of June 30, 2015 and December 31, 2014 of $16,765 (unaudited) and $9,057, respectively; distributions payable to noncontrolling interests and redeemable noncontrolling interests as of June 30, 2015 and December 31, 2014 of $6,413 (unaudited) and $6,426, respectively; accrued expenses and other liabilities as of June 30, 2015 and December 31, 2014 of $162 (unaudited) and $340, respectively; deferred revenue as of June 30, 2015 and December 31, 2014 of $329,114 (unaudited) and $301,792, respectively; deferred grants as of June 30, 2015 and December 31, 2014 of $119,704 (unaudited) and $123,351, respectively; and long-term debt as of June 30, 2015 and December 31, 2014 of $32,219 (unaudited) and $33,382, respectively