VIE Arrangements

3 Months Ended

Mar. 31, 2017

Variable Interest Entity Disclosure [Abstract]

Note 9. VIE Arrangements

The Company consolidated various VIEs at March 31, 2017 and December 31, 2016. The carrying amounts and classification of the VIEs’ assets and liabilities included in the consolidated balance sheets are as follows (in thousands):

	March 31, 2017		December 31, 2016
Assets
Current assets
Cash	$	114,974	$	120,728
Restricted cash		1,631		1,680
Accounts receivable, net		22,916		20,771
Prepaid expenses and other current assets		202		242
Total current assets		139,723		143,421
Solar energy systems, net		2,083,079		1,920,330
Other assets		1,478		1,481
Total assets	$	2,224,280	$	2,065,232

Liabilities
Current liabilities
Accounts payable	$	22,564	$	14,873
Distributions payable to noncontrolling interests and redeemable noncontrolling interests		11,157		10,654
Accrued expenses and other liabilities		1,600		782
Deferred revenue, current portion		28,593		25,827
Deferred grants, current portion		3,641		3,644
Long-term non-recourse debt, current portion		9,813		8,616
Total current liabilities		77,368		64,396
Deferred revenue, net of current portion		405,211		396,858
Deferred grants, net of current portion		104,447		105,390
Long-term non-recourse debt, net of current portion		51,925		50,367
Total liabilities	$	638,951	$	617,011

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 8, 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.