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Condensed Consolidated Statements of Operations - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jul. 04, 2021
Jun. 28, 2020
Jul. 04, 2021
Jun. 28, 2020
Revenues:        
Revenue $ 308,927 $ 217,667 $ 615,325 $ 508,213
Cost of revenues:        
Cost of Revenue 247,896 192,015 504,420 453,377
Gross profit 61,031 25,652 110,905 54,836
Operating expenses:        
Research and development [1] 4,711 5,994 9,726 13,762
Sales, general, and administrative [1] 56,730 36,014 104,474 76,731
Restructuring charges 808 1,259 4,574 2,835
(Gain) loss on sale and impairment of residential lease assets (68) 141 (294) (133)
Gain on business divestitures, net (224) (10,458) (224) (10,458)
Income from transition services agreement, net [1] (1,656) 0 (4,743) 0
Total operating expenses 60,301 32,950 113,513 82,737
Operating income (loss) 730 (7,298) (2,608) (27,901)
Other income (expense), net:        
Interest income 114 174 166 578
Interest expense [1] (7,721) (8,448) (15,686) (17,641)
Other, net 84,071 71,205 40,600 121,643
Other income, net 76,464 62,931 25,080 104,580
Income from continuing operations before income taxes and equity in earnings of unconsolidated investees 77,194 55,633 22,472 76,679
(Provision for) benefit from income taxes [1] (2,425) (1,106) 2,799 (1,991)
Net income from continuing operations 74,769 54,527 25,271 74,688
Loss from discontinued operations before income taxes and equity in losses of unconsolidated investees 0 (33,278) 0 (54,838)
Provision for income taxes from discontinued operations 0 (1,962) 0 (2,946)
Equity in losses of unconsolidated investees 0 (889) 0 (644)
Net loss from discontinued operations, net of taxes 0 (36,129) 0 (58,428)
Net income 74,769 18,398 25,271 16,260
Net loss from continuing operations attributable to noncontrolling interests 438 1,363 1,551 2,742
Net income from discontinued operations attributable to noncontrolling interests 0 (383) 0 (1,055)
Net loss attributable to noncontrolling interests 438 980 1,551 1,687
Net income from continuing operations attributable to stockholders 75,207 55,890 26,822 77,430
Net loss from discontinued operations attributable to stockholders 0 (36,512) 0 (59,483)
Net income attributable to stockholders $ 75,207 $ 19,378 $ 26,822 $ 17,947
Net income (loss) per share attributable to stockholders - basic:        
Continuing operations (in dollars per share) $ 0.44 $ 0.33 $ 0.16 $ 0.46
Discontinued operations (in dollars per share) 0 (0.21) 0 (0.35)
Net income per share - basic (in dollars per share) 0.44 0.12 0.16 0.11
Net income (loss) per share attributable to stockholders - diluted:        
Continuing operations (in dollars per share) 0.40 0.31 0.15 0.44
Discontinued operations (in dollars per share) 0 (0.19) 0 (0.33)
Net income (loss) per share - diluted (in dollars per share) $ 0.40 $ 0.12 $ 0.15 $ 0.11
Weighted-average shares:        
Basic (in shares) 172,640 170,003 171,920 169,413
Diluted (in shares) 194,363 192,040 176,794 179,174
Solar power systems, components, and other        
Revenues:        
Revenue [1] $ 303,408 $ 212,408 $ 604,645 $ 497,697
Cost of revenues:        
Cost of Revenue [1] 246,053 189,868 500,157 448,505
Residential leasing        
Revenues:        
Revenue 1,354 1,329 2,474 2,653
Cost of revenues:        
Cost of Revenue 678 1,217 1,279 2,513
Solar services        
Revenues:        
Revenue 4,165 3,930 8,206 7,863
Cost of revenues:        
Cost of Revenue $ 1,165 $ 930 $ 2,984 $ 2,359
[1] We have related-party transactions with TotalEnergies SE and its affiliates, Maxeon Solar, and unconsolidated entities in which we have a direct equity investment. These related-party transactions are recorded within the "revenue: solar power systems, components, and other," "cost of revenue: solar power systems, components, and other," "operating expenses: research and development," "operating expenses: sales, general and administrative," "operating expenses: income transition services agreement, net," and "other income (expense), net: interest expense," "(provision for) benefit from income taxes" financial statement line items in our unaudited condensed consolidated statements of operations (see Note 2, Note 9, and Note 11).