VIE Arrangements

9 Months Ended

Sep. 30, 2015

Variable Interest Entity Disclosure [Abstract]

11.	VIE Arrangements

The Company consolidated various VIEs at September 30, 2015 and December 31, 2014. The carrying amounts and classification of the VIEs’ assets and liabilities included in the consolidated balance sheets are as follows (in thousands):

	September 30, 2015		December 31, 2014
Assets
Current assets
Cash and cash equivalents	$	68,890	$	29,099
Restricted cash		324		228
Accounts receivable, net		15,882		14,351
Prepaid expenses and other current assets		130		180
Total current assets		85,226		43,858
Restricted cash	$	418	$	365
Solar energy systems, net		1,232,009		942,655
Total Assets	$	1,317,653	$	986,878

Liabilities
Current liabilities
Accounts payable	$	15,364	$	9,057
Distribution payable to noncontrolling interests and redeemable noncontrolling interests		7,174		6,426
Accrued expenses and other liabilities		188		340
Deferred revenue, current portion		19,651		16,991
Deferred grants, current portion		7,213		7,225
Long-term debt, current portion		1,125		1,437
Total current liabilities		50,715		41,476
Deferred revenue, net of current portion		328,181		284,801
Deferred grants, net of current portion		110,522		116,126
Long-term debt, net of current portion		30,395	$	31,945
Total liabilities	$	519,813	$	474,348

The Company holds a variable interest in an entity that provides the noncontrolling interest with a right to terminate the leasehold interests in all of the leased projects on the tenth anniversary of the effective date of the master lease. In this circumstance, the Company would be required to pay the noncontrolling interest an amount equal to the fair market value, as defined in the governing agreement of all leased projects as of that date.

The Company holds certain variable interests in nonconsolidated VIEs established as a result of five lease pass-through Fund arrangements. 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 financing liability recorded in the Company’s consolidated financial statements. The Company is not considered the primary beneficiary of the VIEs.