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Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2016
Dec. 31, 2015
Current assets:    
Cash and cash equivalents $ 96,586 $ 92,213
Accounts receivable, net 12,658 3,636
Inventories 11,285 631
Prepaid expenses and other current assets 46,683 17,078
Total current assets 167,212 113,558
Restricted cash and cash equivalents 26,853 15,035
Solar energy systems, net 1,458,355 1,102,157
Property and equipment, net 23,199 48,168
Intangible assets, net 1,420 2,031
Goodwill   36,601
Prepaid tax asset, net 419,474 277,496
Other non-current assets, net 29,843 14,024
TOTAL ASSETS [1] 2,126,356 1,609,070
Current liabilities:    
Accounts payable 46,630 49,986
Accounts payable—related party 191 1,905
Distributions payable to non-controlling interests and redeemable non-controlling interests 16,176 11,347
Accrued compensation 20,003 13,758
Current portion of long-term debt 6,252  
Current portion of deferred revenue 19,911 4,968
Current portion of capital lease obligation 5,163 5,489
Accrued and other current liabilities 19,364 29,017
Total current liabilities 133,690 116,470
Long-term debt, net of current portion 750,728 415,850
Deferred revenue, net of current portion 34,379 43,304
Capital lease obligation, net of current portion 5,476 10,055
Deferred tax liability, net 395,218 216,033
Other non-current liabilities 10,355 28,565
Total liabilities [1] 1,329,846 830,277
Commitments and contingencies (Note 18)
Redeemable non-controlling interests 129,676 169,541
Stockholders' equity:    
Common stock, $0.01 par value—1,000,000 authorized, 110,245 shares issued and outstanding as of December 31, 2016; 1,000,000 authorized, 106,576 shares issued and outstanding as of December 31, 2015 1,102 1,066
Additional paid-in capital 542,348 530,646
Accumulated other comprehensive income 7,631  
Retained earnings (accumulated deficit) 5,217 (12,769)
Total stockholders' equity 556,298 518,943
Non-controlling interests 110,536 90,309
Total equity 666,834 609,252
TOTAL LIABILITIES, REDEEMABLE NON-CONTROLLING INTERESTS AND EQUITY $ 2,126,356 $ 1,609,070
[1] The Company’s consolidated assets as of December 31, 2016 and 2015 include $1,303.5 million and $1,005.8 million consisting of assets of variable interest entities, or VIEs, that can only be used to settle obligations of the VIEs. These assets include solar energy systems, net, of $1,273.8 million and $990.6 million as of December 31, 2016 and 2015; cash and cash equivalents of $23.2 million and $12.0 million as of December 31, 2016 and 2015; accounts receivable, net, of $4.0 million and $3.1 million as of December 31, 2016 and 2015; and prepaid expenses and other current assets of $0.8 million and $0.1 million as of December 31, 2016 and 2015. The Company’s consolidated liabilities as of December 31, 2016 and 2015 included $64.2 million and $66.4 million of liabilities of VIEs whose creditors have no recourse to the Company. These liabilities include distributions payable to non-controlling interests and redeemable non-controlling interests of $16.2 million and $11.3 million as of December 31, 2016 and 2015; deferred revenue of $41.7 million and $47.9 million as of December 31, 2016 and 2015; accrued and other current liabilities of $4.5 million and $3.9 million as of December 31, 2016 and 2015; and other non-current liabilities of $1.9 million and $3.3 million as of December 31, 2016 and 2015. For further information see Note 13—Investment Funds.