VIE Arrangements

12 Months Ended

Dec. 31, 2015

Variable Interest Entity Disclosure [Abstract]

VIE Arrangements

Note 14. VIE Arrangements

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

	December 31,
	2015		2014
Assets
Current assets
Cash	$	44,407	$	29,099
Restricted cash		757		228
Accounts receivable, net		12,965		14,351
Prepaid expenses and other current assets		66		180
Total current assets		58,195		43,858
Restricted cash	$	—	$	365
Solar energy systems, net		1,305,420		942,655
Total Assets	$	1,363,615	$	986,878
Liabilities
Current liabilities
Accounts payable	$	11,025	$	9,057
Distribution payable to noncontrolling interests    and redeemable noncontrolling interests		8,063		6,426
Accrued expenses and other liabilities		175		340
Deferred revenue, current portion		21,344		16,991
Deferred grants, current portion		7,198		7,225
Long-term debt, current portion		1,159		1,437
Total current liabilities		48,964		41,476
Deferred revenue, net of current portion		353,392		284,801
Deferred grants, net of current portion		108,528		116,126
Long-term debt, net of current portion		29,580	$	31,945
Total liabilities	$	540,464	$	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 as further explained in Note 13, Lease Pass-Through Financing Obligations. 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.

In 2013, the Company acquired an investor’s interest in three consolidated VIEs for a total cash consideration of $22.0 million. In these three entities, the Company was contractually required to make payments to the investor so that the investor achieved a specified minimum internal rate of return upon occurrence of certain events. Upon purchase of the investor’s stake in these entities, this obligation was satisfied. This transaction decreased the Company’s additional paid-in-capital, net of the related tax impact, by $2.8 million.