v3.24.3
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Operating activities:    
Net loss $ (955,266) $ (2,147,435)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization, net of amortization of deferred grants 458,533 388,645
Goodwill impairment 0 1,158,000
Deferred income taxes (26,953) (11,093)
Stock-based compensation expense 83,956 84,226
Interest on pass-through financing obligations 8,837 14,642
Reduction in pass-through financing obligations (20,787) (30,532)
Unrealized loss (gain) on derivatives 2,311 (80,121)
Other noncash items 105,259 142,434
Changes in operating assets and liabilities:    
Accounts receivable (20,715) 9,986
Inventories 117,398 122,103
Prepaid expenses and other assets (470,617) (334,190)
Accounts payable 36,379 (56,271)
Accrued expenses and other liabilities 76,406 (24,487)
Deferred revenue 97,465 59,360
Net cash used in operating activities (507,794) (704,733)
Investing activities:    
Payments for the costs of solar energy systems (1,907,667) (1,935,721)
Purchases of property and equipment, net (945) (16,298)
Net cash used in investing activities (1,908,612) (1,952,019)
Financing activities:    
Proceeds from state tax credits, net of recapture 5,203 4,033
Proceeds from line of credit 305,556 651,398
Repayment of line of credit (452,534) (639,308)
Proceeds from issuance of convertible senior notes, net of capped call transaction 444,822 0
Repurchase of convertible senior notes (229,346) 0
Payment of debt fees (93,747) (46,930)
Proceeds from pass-through financing and other obligations, net 4,795 6,712
Repayment of pass-through financing obligation (240,288) 0
Payment of finance lease obligations (20,635) (16,795)
Contributions received from noncontrolling interests and redeemable noncontrolling interests 1,290,486 1,112,541
Distributions paid to noncontrolling interests and redeemable noncontrolling interests (238,388) (173,536)
Acquisition of noncontrolling interest (21,434) (46,274)
Proceeds from transfer of investment tax credits 557,111 0
Payments to redeemable noncontrolling interests and noncontrolling interests of investment tax credits (557,111) 0
Net proceeds related to stock-based award activities 11,953 14,152
Net cash provided by financing activities 2,439,185 2,655,674
Net change in cash and restricted cash 22,779 (1,078)
Cash and restricted cash, beginning of period 987,838 953,023
Cash and restricted cash, end of period 1,010,617 951,945
Supplemental disclosures of cash flow information    
Cash paid for interest 423,839 313,027
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 59,658 74,885
Right-of-use assets obtained in exchange for new finance lease liabilities 35,507 64,308
Non-recourse debt    
Financing activities:    
Proceeds from issuance of non-recourse debt 3,364,956 3,189,480
Repayment of non-recourse debt $ (1,692,214) $ (1,399,799)

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