v3.23.3
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Operating activities:    
Net loss $ (2,147,435) $ (521,731)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization, net of amortization of deferred grants 388,645 331,856
Goodwill impairment 1,158,000 0
Deferred income taxes (11,093) 0
Stock-based compensation expense 84,226 88,702
Interest on pass-through financing obligations 14,642 15,079
Reduction in pass-through financing obligations (30,532) (31,105)
Unrealized gain on derivatives (80,121) (191,818)
Other noncash items 142,434 26,368
Changes in operating assets and liabilities:    
Accounts receivable 9,986 (87,307)
Inventories 122,103 (82,275)
Prepaid and other assets (334,190) (283,715)
Accounts payable (56,271) (14,763)
Accrued expenses and other liabilities (24,487) 72,801
Deferred revenue 59,360 133,788
Net cash used in operating activities (704,733) (544,120)
Investing activities:    
Payments for the costs of solar energy systems (1,935,721) (1,481,556)
Purchase of equity investment 0 (75,000)
Purchases of property and equipment, net (16,298) (10,820)
Net cash used in investing activities (1,952,019) (1,567,376)
Financing activities:    
Proceeds from state tax credits, net of recapture 4,033 0
Proceeds from line of credit 651,398 1,018,967
Repayment of line of credit (639,308) (724,066)
Payment of debt fees (46,930) (42,282)
Proceeds from pass-through financing and other obligations, net 6,712 1,451
Payment of finance lease obligations (16,795) (10,489)
Contributions received from noncontrolling interests and redeemable noncontrolling interests 1,112,541 925,550
Distributions paid to noncontrolling interests and redeemable noncontrolling interests (173,536) (152,105)
Acquisition of noncontrolling interest (46,274) (37,373)
Net proceeds related to stock-based award activities 14,152 22,555
Net cash provided by financing activities 2,655,674 2,217,118
Net change in cash and restricted cash (1,078) 105,622
Cash and restricted cash, beginning of period 953,023 850,431
Cash and restricted cash, end of period 951,945 956,053
Supplemental disclosures of cash flow information    
Cash paid for interest 313,027 209,723
Cash paid for income taxes 0 0
Supplemental disclosures of noncash investing and financing activities    
Purchases of solar energy systems and property and equipment included in accounts payable and accrued expenses 74,885 52,246
Right-of-use assets obtained in exchange for new finance lease liabilities 64,308 17,000
Non-recourse debt    
Financing activities:    
Proceeds from issuance of non-recourse debt 3,189,480 2,381,630
Repayment of non-recourse debt $ (1,399,799) $ (1,166,720)

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