Segment and Geographical Information (Tables)

3 Months Ended

Apr. 04, 2021

Reconciliation of Other Significant Reconciling Items from Segments to Consolidated

The following tables present segment results for the three months ended April 4, 2021 for revenue, gross margin, and adjusted EBITDA, each as reviewed by the CODM, and their reconciliation to our condensed consolidated results under U.S. GAAP, as well as information about significant customers and revenue by geography based on the destination of the shipments, and property, plant and equipment, net by segment.


	Three Months Ended
	April 4, 2021						March 29, 2020
(In thousands):	Residential, Light Commercial		Commercial and Industrial Solutions		Others		Residential, Light Commercial		Commercial and Industrial Solutions		Others
Revenue from external customers:
Dev Co	$	231,422	$	58,121	$	966	$	226,630	$	46,748	$	470
Power Co	6,515		8,142		611		5,510		3,863		12,510

Intersegment revenue	—		—		(11)		—		—		19,879
Total segment revenue as reviewed by CODM	$	237,937	$	66,263	$	1,566	$	232,140	$	50,611	$	32,859
Segment gross profit as reviewed by CODM	$	52,921	$	4,211	$	(248)	$	33,505	$	(1,295)	$	(9,455)
Adjusted EBITDA	$	25,053	$	576	$	(614)	$	9,236	$	(7,874)	$	(8,909)

Reconciliation of Operating Profit (Loss) from Segments to Consolidated


Reconciliation of Segment Revenue to Condensed Consolidated GAAP Revenue	Three Months Ended
(In thousands):	April 4, 2021		March 29, 2020
Total segment revenue as reviewed by CODM	$	305,766	$	315,610
Adjustments to segment revenue:
Intersegment elimination	11		(19,879)
Legacy utility and power plant projects	—		207

Construction revenue on solar services contracts	—		(5,392)
Results of operations of legacy business to be exited	621		—
Condensed consolidated GAAP revenue	$	306,398	$	290,546


Reconciliation of Segment Gross Profit to Condensed Consolidated GAAP Gross Profit (Loss)	Three Months Ended
(In thousands):	April 4, 2021		March 29, 2020
Segment gross profit	$	56,884	$	22,755
Adjustments to segment gross profit:
Intersegment elimination	449		13,044
Legacy utility and power plant projects	—		34
Legacy sale-leaseback transactions	—		(20)
Gain on sale and impairment of residential lease assets	494		448

Construction revenue on solar services contracts	—		(4,734)
Stock-based compensation expense	(887)		(559)
Amortization of intangible assets	—		(1,784)



Results of operations of legacy business to be exited	(7,066)		—
Condensed consolidated GAAP gross profit	$	49,874	$	29,184


Reconciliation of Segments EBITDA to Loss before income taxes and equity in losses of unconsolidated investees	Three Months Ended
(In thousands):	April 4, 2021		March 29, 2020
Segment adjusted EBITDA	$	25,015	$	(7,547)
Adjustments to segment adjusted EBITDA:
Legacy utility and power plant projects	—		34
Legacy sale-leaseback transactions	—		(20)
Mark-to-market loss on equity investment	(44,730)		—
Unrealized loss on equity securities	—		47,871
Gain (loss) on sale and impairment of residential lease assets	5,383		722

Construction revenue on solar services contracts	—		(4,734)
Stock-based compensation expense	(5,013)		(4,978)
Amortization of intangible assets	—		(1,786)

Transaction-related costs	(130)		(480)
Business reorganization costs	(954)		—

Restructuring charges	(3,766)		(1,576)
Results of operations of legacy business to be exited	(7,066)		—

Litigation	(5,210)		(485)
Gain on convertible debt repurchased	—		2,956

Net loss attributable to noncontrolling interests	(1,113)		(1,379)
Cash interest expense, net of interest income	(7,914)		(8,867)
Depreciation and amortization	(3,342)		(3,500)
Corporate	(5,882)		4,815
Income (loss) before income taxes and equity in loss of unconsolidated investees	$	(54,722)	$	21,046