v3.20.2
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Operating activities:    
Net loss $ (329,499) $ (304,025)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization, net of amortization of deferred grants 156,257 138,620
Deferred income taxes (30,424) (102)
Stock-based compensation expense 37,544 19,420
Interest on pass-through financing obligations 17,480 18,358
Reduction in pass-through financing obligations (28,907) (29,408)
Other noncash items 31,247 16,500
Changes in operating assets and liabilities:    
Accounts receivable 2,727 (11,043)
Inventories 82,604 (30,310)
Prepaid and other assets (37,958) (67,329)
Accounts payable (57,513) 6,744
Accrued expenses and other liabilities (25,964) 14,531
Deferred revenue 15,647 121,936
Net cash used in operating activities (166,759) (106,108)
Investing activities:    
Payments for the costs of solar energy systems (619,012) (594,137)
Business acquisition 0 (2,722)
Purchase of equity method investment (65,356) 0
Purchases of property and equipment, net (2,384) (21,184)
Net cash used in investing activities (686,752) (618,043)
Financing activities:    
Proceeds from state tax credits, net of recapture 6,027 911
Payment of debt fees (8,353) (9,759)
Proceeds from pass-through financing and other obligations 5,728 7,223
Early repayment of pass-through financing obligation 0 (7,597)
Payment of finance lease obligations (7,763) (10,449)
Contributions received from noncontrolling interests and redeemable noncontrolling interests 611,855 571,495
Distributions paid to noncontrolling interests and redeemable noncontrolling interests (62,541) (52,893)
Acquisition of noncontrolling interest 0 (4,600)
Net proceeds related to stock-based award activities 31,839 12,848
Proceeds from shares issued in connection with a subscription agreement 75,000 0
Net cash provided by financing activities 871,796 793,164
Net change in cash and restricted cash 18,285 69,013
Cash and restricted cash, beginning of period 363,229 304,399
Cash and restricted cash, end of period 381,514 373,412
Supplemental disclosures of cash flow information    
Cash paid for interest 85,503 69,096
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 82,301 58,914
Right-of-use assets obtained in exchange for new finance lease liabilities 1,092 17,390
Recourse debt    
Financing activities:    
Proceeds from issuance of debt 126,950 140,000
Repayment of debt (141,525) (147,965)
Non-recourse debt    
Financing activities:    
Proceeds from issuance of debt 442,950 682,050
Repayment of debt $ (208,371) $ (388,100)

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