v3.21.2
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Operating activities:    
Net loss $ (659,064) $ (329,499)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization, net of amortization of deferred grants 286,001 156,257
Deferred income taxes (18,709) (30,424)
Stock-based compensation expense 160,754 37,544
Interest on pass-through financing obligations 16,288 17,480
Reduction in pass-through financing obligations (32,160) (28,907)
Other noncash items 38,656 31,247
Changes in operating assets and liabilities:    
Accounts receivable (90,170) 2,727
Inventories (161,474) 82,604
Prepaid and other assets (273,948) (37,958)
Accounts payable 120,412 (57,513)
Accrued expenses and other liabilities 27,953 (25,964)
Deferred revenue 49,632 15,647
Net cash used in operating activities (535,829) (166,759)
Investing activities:    
Payments for the costs of solar energy systems (1,186,330) (619,012)
Purchase of equity method investment 0 (65,356)
Purchases of property and equipment, net (11,640) (2,384)
Net cash used in investing activities (1,197,970) (686,752)
Financing activities:    
Proceeds from state tax credits, net of recapture 0 6,027
Proceeds from line of credit 526,980 126,950
Repayment of line of credit (548,356) (141,525)
Proceeds from issuance of convertible senior notes, net of capped call transaction 371,998 0
Payment of debt fees (42,757) (8,353)
Proceeds from pass-through financing and other obligations 7,857 5,728
Early repayment of pass-through financing obligation (18,050) 0
Payment of finance lease obligations (9,243) (7,763)
Contributions received from noncontrolling interests and redeemable noncontrolling interests 900,332 611,855
Distributions paid to noncontrolling interests and redeemable noncontrolling interests (142,036) (62,541)
Acquisition of noncontrolling interest (41,572) 0
Net proceeds related to stock-based award activities 23,350 31,839
Proceeds from shares issued in connection with a subscription agreement 0 75,000
Net cash provided by financing activities 1,966,712 871,796
Net change in cash and restricted cash 232,913 18,285
Cash and restricted cash, beginning of period 708,208 363,229
Cash and restricted cash, end of period 941,121 381,514
Supplemental disclosures of cash flow information    
Cash paid for interest 169,737 85,503
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 56,818 82,301
Right-of-use assets obtained in exchange for new finance lease liabilities 9,424 1,092
Purchase Of Solar Energy Systems Included In Non-Resource Debt 37,000 0
Non-recourse debt    
Financing activities:    
Proceeds from issuance of non-recourse debt 1,691,255 442,950
Repayment of non-recourse debt $ (753,046) $ (208,371)

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