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Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Oct. 02, 2022
Jan. 02, 2022
Current assets:    
Cash and cash equivalents $ 396,510 $ 123,735
Restricted cash and cash equivalents, current portion [1] 13,204 691
Short-term investments 138,735 365,880
Accounts receivable, net [2] 178,302 121,268
Contract assets 36,490 25,994
Inventories 228,253 214,432
Advances to suppliers 6,432 462
Prepaid expenses and other current assets [2] 192,392 100,212
Current assets of discontinued operations [2] 0 120,792
Total current assets 1,190,318 1,073,466
Restricted cash and cash equivalents, net of current portion [1] 24,265 14,887
Property, plant and equipment, net 64,784 33,560
Operating lease right-of-use assets 38,295 31,654
Solar power systems leased, net 42,552 45,502
Goodwill 126,338 126,338
Other intangible assets, net 24,312 24,879
Other long-term assets1 [2] 206,630 156,994
Long-term assets of discontinued operations 0 47,526
Total assets 1,717,494 1,554,806
Current liabilities:    
Accounts payable [2] 194,133 138,514
Accrued liabilities [2] 142,714 101,980
Operating lease liabilities, current portion 11,179 10,753
Contract liabilities, current portion [2] 135,497 62,285
Short-term debt 2,185 109,568
Convertible debt, current portion [2] 424,609 0
Current liabilities of discontinued operations [2] 0 86,496
Total current liabilities 910,317 509,596
Long-term 72,567 380
Convertible debt, net of current portion [2] 0 423,677
Operating lease liabilities, net of current portion 31,400 28,566
Contract liabilities, net of current portion 18,344 18,705
Other long-term liabilities [2] 118,242 141,197
Long-term liabilities of discontinued operations [2] 0 42,661
Total liabilities 1,150,870 1,164,782
Commitments and contingencies (Note 9)
Equity:    
Preferred stock, $0.001 par value; 10,000 shares authorized; none issued and outstanding as of October 2, 2022 and January 2, 2022 0 0
Common stock, $0.001 par value, 367,500 shares authorized; 188,125 shares issued and 174,155 shares outstanding as of October 2, 2022; 186,452 shares issued and 173,051 shares outstanding as of January 2, 2022 174 173
Additional paid-in capital 2,845,845 2,714,500
Accumulated deficit (2,073,788) (2,122,212)
Accumulated other comprehensive income 11,097 11,168
Treasury stock, at cost: 13,970 shares of common stock as of October 2, 2022; 13,401 shares of common stock as of January 2, 2022 (225,703) (215,240)
Total stockholders' equity 557,625 388,389
Noncontrolling interests in subsidiaries 8,999 1,635
Total equity 566,624 390,024
Total liabilities and equity $ 1,717,494 $ 1,554,806
[1] Amounts included in the “Restricted cash and cash equivalents, current portion” and “Restricted cash and cash equivalents, net of current portion” financial statement line items on our condensed consolidated balance sheets include cash balances set aside for various financial obligations including loans, distributions, letter of credit facilities, and other projects’ related cash transactions
[2] We have related-party balances for transactions made with TotalEnergies SE and its affiliates, Maxeon Solar Technologies, Ltd. (“Maxeon Solar”), and unconsolidated entities in which we have a direct equity investment. These related-party balances are recorded within the “accounts receivable, net,” “prepaid expenses and other current assets,” “other long-term assets,” “accounts payable,” “accrued liabilities,” “convertible debt, current portion,” “contract liabilities, current portion,” “convertible debt, net of current portion,” “other long-term liabilities,” “current assets of discontinued operations,” “current liabilities of discontinued operations,” and “long-term liabilities of discontinued operations” financial statement line items on our condensed consolidated balance sheets (see Note 3, Note 9, Note 10, Note 11, and Note 12)