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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended 12 Months Ended
Sep. 27, 2020
Dec. 29, 2019
Sep. 29, 2019
Sep. 27, 2020
Sep. 29, 2019
Dec. 29, 2019
Cash flows from operating activities:            
Net income $ 45,114   $ (19,208) $ 61,374 $ (13,699)  
Adjustments to reconcile net loss to net cash used in operating activities:            
Depreciation and amortization       45,737 62,022  
Non-cash restructuring charges       0 5,874  
Stock-based compensation       18,788 18,927  
Non-cash interest expense       5,495 7,468  
Bad debt expense       998 1,319  
Equity in losses of unconsolidated investees       586 2,050  
Gain on equity investments with readily determinable fair value       (275,645) (129,038)  
Gain on retirement of convertible debt       (3,060) 0  
Gain on sale of assets       0 (21,383)  
Gain on business divestiture 0   0 (10,458) (143,400)  
Gain on sale of investments without determinable fair value       0 (17,275)  
Deferred income taxes       1,639 500  
Impairment of property, plant and equipment       0 777  
Loss on sale and impairment of residential lease assets       815 36,709  
Changes in operating assets and liabilities:            
Accounts receivable       113,029 (47,029)  
Contract assets       (22,771) (18,107)  
Inventories       (12,107) (108,093)  
Project assets       (11,202) (9,238)  
Prepaid expenses and other assets       (4,324) 1,482  
Operating lease right-of-use assets       9,898 6,219  
Long-term financing receivables, net       0 (473)  
Advances to suppliers       16,296 33,292  
Accounts payable and other accrued liabilities       (75,141) 64,009  
Contract liabilities       (53,818) 8,127  
Operating lease liabilities       (8,642) (7,202)  
Net cash used in operating activities       (202,513) (266,162)  
Cash flows from investing activities:            
Purchases of property, plant and equipment       (13,174) (35,100)  
Cash paid for solar power systems       (5,394) (51,826)  
Proceeds from business divestiture, net of de-consolidated cash       (140,132) [1] 0  
Proceeds from business divestiture, net of cash3 [2]       15,418 40,491  
Proceeds from sale of equity investment       119,439 42,957  
Proceeds from maturities of marketable securities       6,588 0  
Purchases of marketable securities       (1,338) 0  
Proceeds from sale of assets       0 39,970  
Cash outflow from sale of residential lease portfolio       0 (16,397)  
Proceeds from return of capital of equity investments with fair value option       7,724 0  
Cash paid for investments in unconsolidated investees       0 (12,400)  
Net cash provided by (used in) investing activities       (10,869) 7,695  
Cash flows from financing activities:            
Proceeds from bank loans and other debt       183,731 231,489  
Repayment of bank loans and other debt       (183,070) (209,095)  
Proceeds from issuance of non-recourse residential and commercial financing, net of issuance costs       13,434 72,259  
Repayment of non-recourse commercial and residential financing       (7,231) (2,959)  
Contributions from noncontrolling interests and redeemable noncontrolling interests attributable to residential projects       22 31,413  
Distributions to noncontrolling interests and redeemable noncontrolling interests attributable to residential projects       (302) (316)  
Cash paid for repurchase of convertible debt       (95,178) 0  
Proceeds from issuance of Maxeon Solar green convertible debt       200,000 0  
Settlement of contingent consideration arrangement, net of cash received       2,245 (2,448)  
Equity offering costs paid       (928) 0  
Payment for prior business combination       0 (9,000)  
Purchases of stock for tax withholding obligations on vested restricted stock       (8,455) (4,657)  
Net cash provided by financing activities       104,268 106,686  
Effect of exchange rate changes on cash, cash equivalents, restricted cash and restricted cash equivalents       222 (1,247)  
Net decrease in cash, cash equivalents, restricted cash and restricted cash equivalents       (108,892) (153,028)  
Cash, cash equivalents, restricted cash and restricted cash equivalents, beginning of period [3]   $ 210,735   458,657 363,763 $ 363,763
Cash, cash equivalents, restricted cash and restricted cash equivalents, end of period [3] 349,765 $ 458,657 210,735 349,765 210,735 $ 458,657
Non-cash transactions:            
Costs of solar power systems sourced from existing inventory       0 29,206  
Costs of solar power systems funded by liabilities       598 3,604  
Property, plant and equipment acquisitions funded by liabilities       36 11,911  
Right-of-use assets obtained in exchange for lease obligations $ 8,362   $ 8,939 21,786 [4] 103,744 [4]  
Derecognition financing obligations upon business divestitures       0 590,884  
Assumption of liabilities in connection with business divestiture [5]       9,056 0  
Holdbacks in connection with business divestiture [5]       7,199 2,425  
Receivables in connection with sale of residential lease assets       0 8,043  
Receivables in connection with sale of residential lease assets       0 69,076  
Holdback related to sale of assets       0 $ 18,300  
Cash received for spin-off       125,000    
Deconsolidation, spin-off cash       265,100    
De-consolidated cash amount       $ 600    
[1] Amount for the nine months ended September 27, 2020 consists of $125 million of cash received from Maxeon Solar under the Separation and Distribution Agreement, net of de-consolidated cash of $265.1 million
[2] Amount for the nine months ended September 27, 2020 is net of de-consolidated cash of $0.6 million
[3] "Cash, cash equivalents, restricted cash and restricted cash equivalents" balance consisted of "cash and cash equivalents", "restricted cash and cash equivalents, current portion" and "restricted cash and cash equivalents, net of current portion" financial statement line items on the condensed consolidated balance sheets for the respective periods.
[4] Amounts for the nine months ended September 29, 2019 include the transition adjustment for the adoption of Accounting Standards Update ("ASU") No. 2016-02, Leases (Topic 842), as amended ("ASC 842") and additional Right-of-Use ("ROU") asset additions.
[5] See Note 5.