v3.19.3.a.u2
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Operating activities:      
Net loss $ (391,022) $ (260,186) $ (287,615)
Adjustments to reconcile net loss to net cash used in operating activities:      
Depreciation and amortization, net of amortization of deferred grants 187,163 156,007 128,687
Deferred income taxes (8,218) 9,322 12,353
Stock-based compensation expense 26,306 27,856 22,042
Interest on pass-through financing obligations 24,326 19,205 12,629
Reduction in pass-through financing obligations (39,083) (25,005) (18,295)
Other noncash items 25,780 25,484 24,471
Changes in operating assets and liabilities:      
Accounts receivable (14,864) (5,707) (9,409)
Inventories (181,104) 14,960 (27,101)
Prepaid and other assets (81,630) (75,924) (51,633)
Accounts payable 67,356 8,848 47,837
Accrued expenses and other liabilities 42,081 15,286 9,219
Deferred revenue 138,422 27,393 40,712
Net cash used in operating activities (204,487) (62,461) (96,103)
Investing activities:      
Payments for the costs of solar energy systems (815,188) (806,365) (769,363)
Purchases of property and equipment (25,345) (4,951) (7,956)
Business acquisition (2,722) 0 0
Net cash used in investing activities (843,255) (811,316) (777,319)
Financing activities:      
Proceeds from state tax credits, net of recapture 2,253 10,887 13,773
Payment of debt fees (28,687) (24,849) (14,392)
Proceeds from pass-through financing and other obligations 9,140 217,082 6,221
Extinguishment of pass-through financing and other obligations (7,597) 0 0
Payment of finance lease obligations (13,919) (9,025) (9,836)
Contributions received from noncontrolling interests and redeemable noncontrolling interests 711,914 345,147 594,921
Distributions paid to noncontrolling interests and redeemable noncontrolling interests (76,654) (78,398) (54,530)
Acquisition of noncontrolling interests (4,600) 0 (35,386)
Net proceeds related to stock-based award activities 16,196 12,592 1,035
Repurchase of common stock (5,000) 0 0
Net cash provided by financing activities 1,106,572 936,386 890,849
Net change in cash and restricted cash 58,830 62,609 17,427
Cash and restricted cash, beginning of period 304,399 241,790 224,363
Cash and restricted cash, end of period 363,229 304,399 241,790
Supplemental disclosures of cash flow information      
Cash paid for interest 99,472 76,313 42,194
Cash paid for taxes 0 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 51,719 27,169 19,625
Purchases of solar energy systems included in non-recourse debt 0 0 12,873
Right-of-use assets obtained in exchange for finance lease liabilities 17,914 14,302 650
Recourse Debt      
Financing activities:      
Proceeds from issuance of debt 185,450 17,000 170,400
Repayment of debt (192,965) (17,000) (167,400)
Non Recourse Debt      
Financing activities:      
Proceeds from issuance of debt 1,181,549 980,544 748,806
Repayment of debt $ (670,508) $ (517,594) $ (362,763)

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