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Equity Investments Equity Investments (Tables)
 9 Months Ended
Sep. 27, 2020
Equity Method Investments and Joint Ventures [Abstract]  
Equity Method Investments The carrying value of our equity investments, classified as "other long-term assets" on our condensed consolidated balance sheets, are as follows:
As of
(In thousands)September 27, 2020December 29, 2019
Equity investments with readily determinable fair value:
Enphase Energy, Inc.$331,293 $173,908 
Total equity investments with readily determinable fair value331,293 173,908 
Equity investments without readily determinable fair value:
Project entities122 122 
Other equity investments without readily determinable fair value679 679 
Total equity investments without readily determinable fair value801 801 
Equity investments with fair value option:
SunStrong Capital Holdings, LLC 1 2
7,645 8,000 
SunStrong Partners, LLC 1 2
2,279 9,500 
Total equity investment with fair value option9,924 17,500 
Total equity investments$342,018 $192,209 
1 During the second quarter of fiscal 2020, we received a total of $7.7 million in cash proceeds relating to the SunStrong joint venture. Proceeds of $7.2 million were received from SunStrong Partners and proceeds of $0.5 million were received from SunStrong. The distribution was approved by the SunStrong Board of Directors on June 24, 2020. The distribution reduced our equity investment balance in SunStrong Partners and SunStrong classified in "other long-term assets" on our condensed consolidated balance sheet.
2 During the three months ended September 27, 2020, we contributed a total of $0.1 million additional capital to purchase Class B member units in Ultralight 2 HoldCo, LLC.
Schedule of Other Ownership Interests
The following table presents summarized financial statements for SunStrong, a significant investee, based on unaudited information provided to us by the investee:1
Three Months EndedNine Months Ended
(In thousands)September 27, 2020September 29, 2019September 27, 2020September 29, 2019
Summarized statements of operations information:
Revenue$31,299 $23,288 $90,056 $46,450 
Gross income (loss)1,057 (11,189)(5,839)(12,398)
Net income (loss)13,596 (9,162)35,019 (5,906)

As of
(In thousands)September 27, 2020December 29, 2019
Summarized balance sheet information:
      Current assets$89,684 $225,576 
      Long-term assets1,325,344 1,049,451 
      Current liabilities48,280 125,601 
      Long-term liabilities1,085,962 847,365 
1 Note that amounts are reported one quarter in arrears as permitted by applicable guidance.
Schedule of Related Party Transactions
The following related-party balances and amounts are associated with transactions entered into with Total and its Affiliates. Refer to Note 11. Equity Investments for related-party transactions with unconsolidated entities in which we have a direct equity investment.
As of
(In thousands)September 27, 2020December 29, 2019
Accounts receivable$267 $3,973 
1 Refer to Note 10. Commitments and Contingencies - Advances from Customers.
Three Months EndedNine Months Ended
(In thousands)September 27, 2020September 29, 2019September 27, 2020September 29, 2019
Revenue:
Solar power systems, components, and other$34,465 $112 $98,244 $112 
Cost of revenue:
Solar power systems, components, and other26,177 84 70,501 84 
Other income
     Gain on early retirement of convertible debt104 — 1,954 — 
Interest expense:
Guarantee fees incurred under the Credit Support Agreement— 93 13 244 
Interest expense incurred on the 0.875% debentures due 2021
384 547 1,216 1,641 
Interest expense incurred on the 4.00% debentures due 2023
1,000 1,000 3,000 3,000 
Related-party transactions with investees are as follows:
As of
(In thousands)September 27, 2020December 29, 2019
Accounts receivable$14,284 $23,900 
Accrued liabilities— 7,540 
Contract liabilities$27,938 $29,599 

Three Months EndedNine Months Ended
(In thousands)September 27, 2020September 29, 2019September 27, 2020September 29, 2019
Revenues and fees received from investees for products/services47,378 38,963 146,570 60,369 
The below table summarizes the Company’s transactions with Maxeon Solar for the three and nine months ended September 27, 2020:
Three Months EndedNine Months Ended
(In thousands)September 27, 2020September 27, 2020
Purchases of photovoltaic modules (recorded in cost of revenue)$18,895 $18,895 
Research and development expenses reimbursement $3,638 $3,638 
Income from transition services agreement, net$1,889 $1,889 
The Company had the following balances related to transactions with Maxeon Solar as of September 27, 2020:
(In thousands)September 27, 2020
Prepaid and other current assets$16,017 
Accrued liabilities $2,373 
Accounts payable$18,895