false2020Q2000146936712/31us-gaap:AccountingStandardsUpdate201613Memberus-gaap:AccountingStandardsUpdate201802Memberus-gaap:OtherAssetsus-gaap:OtherAssetsus-gaap:AccruedLiabilitiesAndOtherLiabilitiesus-gaap:AccruedLiabilitiesAndOtherLiabilitiesP4YP3YP2YP3Y00014693672020-01-012020-06-30xbrli:shares00014693672020-08-06iso4217:USD00014693672020-06-3000014693672019-12-310001469367us-gaap:AssetsLeasedToOthersMember2020-06-300001469367us-gaap:AssetsLeasedToOthersMember2019-12-31iso4217:USDxbrli:shares0001469367us-gaap:VariableInterestEntityPrimaryBeneficiaryMember2020-06-300001469367us-gaap:VariableInterestEntityPrimaryBeneficiaryMember2019-12-310001469367us-gaap:ServiceMember2020-04-012020-06-300001469367us-gaap:ServiceMember2019-04-012019-06-300001469367us-gaap:ServiceMember2020-01-012020-06-300001469367us-gaap:ServiceMember2019-01-012019-06-300001469367us-gaap:ProductMember2020-04-012020-06-300001469367us-gaap:ProductMember2019-04-012019-06-300001469367us-gaap:ProductMember2020-01-012020-06-300001469367us-gaap:ProductMember2019-01-012019-06-3000014693672020-04-012020-06-3000014693672019-04-012019-06-3000014693672019-01-012019-06-300001469367run:RedeemableNoncontrollingInterestMember2020-03-310001469367us-gaap:PreferredStockMember2020-03-310001469367us-gaap:CommonStockMember2020-03-310001469367us-gaap:AdditionalPaidInCapitalMember2020-03-310001469367us-gaap:AccumulatedOtherComprehensiveIncomeMember2020-03-310001469367us-gaap:RetainedEarningsMember2020-03-310001469367us-gaap:ParentMember2020-03-310001469367us-gaap:NoncontrollingInterestMember2020-03-3100014693672020-03-310001469367us-gaap:CommonStockMember2020-04-012020-06-300001469367us-gaap:AdditionalPaidInCapitalMember2020-04-012020-06-300001469367us-gaap:ParentMember2020-04-012020-06-300001469367run:RedeemableNoncontrollingInterestMember2020-04-012020-06-300001469367us-gaap:NoncontrollingInterestMember2020-04-012020-06-300001469367us-gaap:RetainedEarningsMember2020-04-012020-06-300001469367us-gaap:AccumulatedOtherComprehensiveIncomeMember2020-04-012020-06-300001469367run:RedeemableNoncontrollingInterestMember2020-06-300001469367us-gaap:PreferredStockMember2020-06-300001469367us-gaap:CommonStockMember2020-06-300001469367us-gaap:AdditionalPaidInCapitalMember2020-06-300001469367us-gaap:AccumulatedOtherComprehensiveIncomeMember2020-06-300001469367us-gaap:RetainedEarningsMember2020-06-300001469367us-gaap:ParentMember2020-06-300001469367us-gaap:NoncontrollingInterestMember2020-06-300001469367run:RedeemableNoncontrollingInterestMember2019-03-310001469367us-gaap:PreferredStockMember2019-03-310001469367us-gaap:CommonStockMember2019-03-310001469367us-gaap:AdditionalPaidInCapitalMember2019-03-310001469367us-gaap:AccumulatedOtherComprehensiveIncomeMember2019-03-310001469367us-gaap:RetainedEarningsMember2019-03-310001469367us-gaap:ParentMember2019-03-310001469367us-gaap:NoncontrollingInterestMember2019-03-3100014693672019-03-310001469367us-gaap:CommonStockMember2019-04-012019-06-300001469367us-gaap:AdditionalPaidInCapitalMember2019-04-012019-06-300001469367us-gaap:ParentMember2019-04-012019-06-300001469367run:RedeemableNoncontrollingInterestMember2019-04-012019-06-300001469367us-gaap:NoncontrollingInterestMember2019-04-012019-06-300001469367us-gaap:RetainedEarningsMember2019-04-012019-06-300001469367us-gaap:AccumulatedOtherComprehensiveIncomeMember2019-04-012019-06-300001469367run:RedeemableNoncontrollingInterestMember2019-06-300001469367us-gaap:PreferredStockMember2019-06-300001469367us-gaap:CommonStockMember2019-06-300001469367us-gaap:AdditionalPaidInCapitalMember2019-06-300001469367us-gaap:AccumulatedOtherComprehensiveIncomeMember2019-06-300001469367us-gaap:RetainedEarningsMember2019-06-300001469367us-gaap:ParentMember2019-06-300001469367us-gaap:NoncontrollingInterestMember2019-06-3000014693672019-06-300001469367run:RedeemableNoncontrollingInterestMember2019-12-310001469367us-gaap:PreferredStockMember2019-12-310001469367us-gaap:CommonStockMember2019-12-310001469367us-gaap:AdditionalPaidInCapitalMember2019-12-310001469367us-gaap:AccumulatedOtherComprehensiveIncomeMember2019-12-310001469367us-gaap:RetainedEarningsMember2019-12-310001469367us-gaap:ParentMember2019-12-310001469367us-gaap:NoncontrollingInterestMember2019-12-3100014693672019-01-012019-12-310001469367srt:CumulativeEffectPeriodOfAdoptionAdjustmentMemberus-gaap:RetainedEarningsMember2019-12-310001469367srt:CumulativeEffectPeriodOfAdoptionAdjustmentMemberus-gaap:ParentMember2019-12-310001469367srt:CumulativeEffectPeriodOfAdoptionAdjustmentMember2019-12-310001469367us-gaap:CommonStockMember2020-01-012020-06-300001469367us-gaap:AdditionalPaidInCapitalMember2020-01-012020-06-300001469367us-gaap:ParentMember2020-01-012020-06-300001469367run:RedeemableNoncontrollingInterestMember2020-01-012020-06-300001469367us-gaap:NoncontrollingInterestMember2020-01-012020-06-300001469367us-gaap:RetainedEarningsMember2020-01-012020-06-300001469367us-gaap:AccumulatedOtherComprehensiveIncomeMember2020-01-012020-06-300001469367run:RedeemableNoncontrollingInterestMember2018-12-310001469367us-gaap:PreferredStockMember2018-12-310001469367us-gaap:CommonStockMember2018-12-310001469367us-gaap:AdditionalPaidInCapitalMember2018-12-310001469367us-gaap:AccumulatedOtherComprehensiveIncomeMember2018-12-310001469367us-gaap:RetainedEarningsMember2018-12-310001469367us-gaap:ParentMember2018-12-310001469367us-gaap:NoncontrollingInterestMember2018-12-3100014693672018-12-3100014693672018-01-012018-12-310001469367srt:CumulativeEffectPeriodOfAdoptionAdjustmentMemberus-gaap:AccumulatedOtherComprehensiveIncomeMember2018-12-310001469367srt:CumulativeEffectPeriodOfAdoptionAdjustmentMemberus-gaap:RetainedEarningsMember2018-12-310001469367srt:CumulativeEffectPeriodOfAdoptionAdjustmentMember2018-12-310001469367us-gaap:CommonStockMember2019-01-012019-06-300001469367us-gaap:AdditionalPaidInCapitalMember2019-01-012019-06-300001469367us-gaap:ParentMember2019-01-012019-06-300001469367run:RedeemableNoncontrollingInterestMember2019-01-012019-06-300001469367us-gaap:NoncontrollingInterestMember2019-01-012019-06-300001469367us-gaap:RetainedEarningsMember2019-01-012019-06-300001469367us-gaap:AccumulatedOtherComprehensiveIncomeMember2019-01-012019-06-300001469367run:RecourseDebtMember2020-01-012020-06-300001469367run:RecourseDebtMember2019-01-012019-06-300001469367run:NonRecourseDebtMember2020-01-012020-06-300001469367run:NonRecourseDebtMember2019-01-012019-06-300001469367srt:MinimumMember2020-06-300001469367srt:MaximumMember2020-06-30run:InvestmentFundrun:Segmentrun:BusinessActivity0001469367run:CustomerAgreementsMember2020-04-012020-06-300001469367run:CustomerAgreementsMember2019-04-012019-06-300001469367run:CustomerAgreementsMember2020-01-012020-06-300001469367run:CustomerAgreementsMember2019-01-012019-06-300001469367run:IncentivesMember2020-04-012020-06-300001469367run:IncentivesMember2019-04-012019-06-300001469367run:IncentivesMember2020-01-012020-06-300001469367run:IncentivesMember2019-01-012019-06-300001469367run:SolarEnergySystemsMember2020-04-012020-06-300001469367run:SolarEnergySystemsMember2019-04-012019-06-300001469367run:SolarEnergySystemsMember2020-01-012020-06-300001469367run:SolarEnergySystemsMember2019-01-012019-06-300001469367us-gaap:ManufacturedProductOtherMember2020-04-012020-06-300001469367us-gaap:ManufacturedProductOtherMember2019-04-012019-06-300001469367us-gaap:ManufacturedProductOtherMember2020-01-012020-06-300001469367us-gaap:ManufacturedProductOtherMember2019-01-012019-06-300001469367us-gaap:ServiceMemberrun:PaymentsReceivedMember2020-06-300001469367us-gaap:ServiceMemberrun:PaymentsReceivedMember2019-12-310001469367us-gaap:ServiceMemberrun:FinancingMember2020-06-300001469367us-gaap:ServiceMemberrun:FinancingMember2019-12-310001469367us-gaap:ServiceMember2020-06-300001469367us-gaap:ServiceMember2019-12-310001469367us-gaap:ProductMemberrun:PaymentsReceivedMember2020-06-300001469367us-gaap:ProductMemberrun:PaymentsReceivedMember2019-12-310001469367us-gaap:ProductMemberrun:FinancingMember2020-06-300001469367us-gaap:ProductMemberrun:FinancingMember2019-12-310001469367us-gaap:ProductMember2020-06-300001469367us-gaap:ProductMember2019-12-31xbrli:pure0001469367run:SolarEnergySystemsMemberrun:PaymentsUnderCustomerAgreementsMember2020-01-012020-06-300001469367run:SyndicatedWorkingCapitalFacilityMemberus-gaap:CarryingReportedAmountFairValueDisclosureMember2020-06-300001469367run:SyndicatedWorkingCapitalFacilityMemberus-gaap:EstimateOfFairValueFairValueDisclosureMember2020-06-300001469367run:SyndicatedWorkingCapitalFacilityMemberus-gaap:CarryingReportedAmountFairValueDisclosureMember2019-12-310001469367run:SyndicatedWorkingCapitalFacilityMemberus-gaap:EstimateOfFairValueFairValueDisclosureMember2019-12-310001469367run:SeniorDebtMemberus-gaap:CarryingReportedAmountFairValueDisclosureMember2020-06-300001469367run:SeniorDebtMemberus-gaap:EstimateOfFairValueFairValueDisclosureMember2020-06-300001469367run:SeniorDebtMemberus-gaap:CarryingReportedAmountFairValueDisclosureMember2019-12-310001469367run:SeniorDebtMemberus-gaap:EstimateOfFairValueFairValueDisclosureMember2019-12-310001469367us-gaap:SubordinatedDebtMemberus-gaap:CarryingReportedAmountFairValueDisclosureMember2020-06-300001469367us-gaap:SubordinatedDebtMemberus-gaap:EstimateOfFairValueFairValueDisclosureMember2020-06-300001469367us-gaap:SubordinatedDebtMemberus-gaap:CarryingReportedAmountFairValueDisclosureMember2019-12-310001469367us-gaap:SubordinatedDebtMemberus-gaap:EstimateOfFairValueFairValueDisclosureMember2019-12-310001469367run:SecuritizationDebtMemberus-gaap:CarryingReportedAmountFairValueDisclosureMember2020-06-300001469367run:SecuritizationDebtMemberus-gaap:EstimateOfFairValueFairValueDisclosureMember2020-06-300001469367run:SecuritizationDebtMemberus-gaap:CarryingReportedAmountFairValueDisclosureMember2019-12-310001469367run:SecuritizationDebtMemberus-gaap:EstimateOfFairValueFairValueDisclosureMember2019-12-310001469367us-gaap:CarryingReportedAmountFairValueDisclosureMember2020-06-300001469367us-gaap:EstimateOfFairValueFairValueDisclosureMember2020-06-300001469367us-gaap:CarryingReportedAmountFairValueDisclosureMember2019-12-310001469367us-gaap:EstimateOfFairValueFairValueDisclosureMember2019-12-310001469367us-gaap:FairValueInputsLevel1Memberus-gaap:InterestRateSwapMemberus-gaap:FairValueMeasurementsRecurringMember2020-06-300001469367us-gaap:InterestRateSwapMemberus-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMember2020-06-300001469367us-gaap:InterestRateSwapMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMember2020-06-300001469367us-gaap:InterestRateSwapMemberus-gaap:FairValueMeasurementsRecurringMember2020-06-300001469367us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMember2020-06-300001469367us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMember2020-06-300001469367us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMember2020-06-300001469367us-gaap:FairValueMeasurementsRecurringMember2020-06-300001469367us-gaap:FairValueInputsLevel1Memberus-gaap:InterestRateSwapMemberus-gaap:FairValueMeasurementsRecurringMember2019-12-310001469367us-gaap:InterestRateSwapMemberus-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMember2019-12-310001469367us-gaap:InterestRateSwapMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMember2019-12-310001469367us-gaap:InterestRateSwapMemberus-gaap:FairValueMeasurementsRecurringMember2019-12-310001469367us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMember2019-12-310001469367us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMember2019-12-310001469367us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMember2019-12-310001469367us-gaap:FairValueMeasurementsRecurringMember2019-12-310001469367run:ContingentConsiderationMember2019-12-310001469367run:ContingentConsiderationMember2020-01-012020-06-300001469367run:ContingentConsiderationMember2020-06-300001469367us-gaap:EquipmentMember2020-06-300001469367us-gaap:EquipmentMember2019-12-310001469367run:InvertersMember2020-06-300001469367run:InvertersMember2019-12-310001469367run:SolarEnergySystemsMember2020-06-300001469367run:SolarEnergySystemsMember2019-12-310001469367run:CustomerAgreementsMember2020-06-300001469367run:CustomerAgreementsMember2019-12-310001469367run:IncentivesMember2020-06-300001469367run:IncentivesMember2019-12-310001469367run:SyndicatedWorkingCapitalFacilityMemberrun:RecourseDebtMember2020-06-300001469367run:SyndicatedWorkingCapitalFacilityMembersrt:MinimumMemberrun:RecourseDebtMember2020-06-300001469367srt:MaximumMemberrun:SyndicatedWorkingCapitalFacilityMemberrun:RecourseDebtMember2020-06-300001469367run:RecourseDebtMember2020-06-300001469367run:NonRecourseDebtMemberrun:SeniorDebtMember2020-06-300001469367run:NonRecourseDebtMembersrt:MinimumMemberrun:SeniorDebtMember2020-06-300001469367srt:MaximumMemberrun:NonRecourseDebtMemberrun:SeniorDebtMember2020-06-300001469367us-gaap:SubordinatedDebtMemberrun:NonRecourseDebtMember2020-06-300001469367us-gaap:SubordinatedDebtMemberrun:NonRecourseDebtMembersrt:MinimumMember2020-06-300001469367srt:MaximumMemberus-gaap:SubordinatedDebtMemberrun:NonRecourseDebtMember2020-06-300001469367run:SecuritizationDebtClassAMemberrun:NonRecourseDebtMember2020-06-300001469367run:SecuritizationDebtClassAMemberrun:NonRecourseDebtMembersrt:MinimumMember2020-06-300001469367run:SecuritizationDebtClassAMembersrt:MaximumMemberrun:NonRecourseDebtMember2020-06-300001469367run:SecuritizationDebtClassBMemberrun:NonRecourseDebtMember2020-06-300001469367run:NonRecourseDebtMember2020-06-300001469367run:SyndicatedWorkingCapitalFacilityMemberrun:RecourseDebtMember2019-12-310001469367run:SyndicatedWorkingCapitalFacilityMembersrt:MinimumMemberrun:RecourseDebtMember2019-12-310001469367srt:MaximumMemberrun:SyndicatedWorkingCapitalFacilityMemberrun:RecourseDebtMember2019-12-310001469367run:RecourseDebtMember2019-12-310001469367run:NonRecourseDebtMemberrun:SeniorDebtMember2019-12-310001469367run:NonRecourseDebtMembersrt:MinimumMemberrun:SeniorDebtMember2019-12-310001469367srt:MaximumMemberrun:NonRecourseDebtMemberrun:SeniorDebtMember2019-12-310001469367us-gaap:SubordinatedDebtMemberrun:NonRecourseDebtMember2019-12-310001469367us-gaap:SubordinatedDebtMemberrun:NonRecourseDebtMembersrt:MinimumMember2019-12-310001469367srt:MaximumMemberus-gaap:SubordinatedDebtMemberrun:NonRecourseDebtMember2019-12-310001469367run:SecuritizationDebtClassAMemberrun:NonRecourseDebtMember2019-12-310001469367run:SecuritizationDebtClassAMemberrun:NonRecourseDebtMembersrt:MinimumMember2019-12-310001469367run:SecuritizationDebtClassAMembersrt:MaximumMemberrun:NonRecourseDebtMember2019-12-310001469367run:SecuritizationDebtClassBMemberrun:NonRecourseDebtMember2019-12-310001469367run:NonRecourseDebtMember2019-12-310001469367run:SyndicatedWorkingCapitalFacilityMemberus-gaap:LondonInterbankOfferedRateLIBORMemberrun:RecourseDebtMember2020-01-012020-06-300001469367us-gaap:BaseRateMemberrun:SyndicatedWorkingCapitalFacilityMemberrun:RecourseDebtMember2020-01-012020-06-300001469367us-gaap:FederalFundsEffectiveSwapRateMemberrun:SyndicatedWorkingCapitalFacilityMemberrun:RecourseDebtMember2020-01-012020-06-300001469367run:LiborFloorRateMemberrun:SyndicatedWorkingCapitalFacilityMemberrun:RecourseDebtMember2020-01-012020-06-300001469367run:AggregationFacilityOctober2024Memberrun:TermLoanDueinOctober2024Memberrun:NonRecourseDebtMemberrun:SeniorSecuredRevolvingLetterOfCreditFacilityMember2020-06-300001469367run:AggregationFacilityOctober2024Memberrun:TermLoanDueinOctober2024Memberrun:NonRecourseDebtMemberrun:TermLoanMember2020-06-300001469367us-gaap:LetterOfCreditMemberrun:AggregationFacilityOctober2024Memberrun:TermLoanDueinOctober2024Memberrun:NonRecourseDebtMember2020-06-300001469367run:AggregationFacilityOctober2024Memberus-gaap:LondonInterbankOfferedRateLIBORMemberrun:NonRecourseDebtMemberrun:TermLoanAMember2020-01-012020-06-300001469367us-gaap:BaseRateMemberrun:AggregationFacilityOctober2024Memberrun:NonRecourseDebtMemberrun:TermLoanAMember2020-01-012020-06-300001469367run:TermLoanBMemberrun:AggregationFacilityOctober2024Memberrun:NonRecourseDebtMember2020-06-300001469367run:AggregationFacilityApril2024Memberrun:TermLoanDueinApril2024Memberrun:NonRecourseDebtMemberrun:SeniorSecuredRevolvingLetterOfCreditFacilityMember2020-06-300001469367run:AggregationFacilityApril2024Memberrun:TermLoanDueinApril2024Memberrun:DelayedDrawTermLoanMemberrun:NonRecourseDebtMember2020-06-300001469367run:AggregationFacilityApril2024Memberus-gaap:LetterOfCreditMemberrun:TermLoanDueinApril2024Memberrun:NonRecourseDebtMember2020-06-300001469367run:AggregationFacilityApril2024Memberrun:TermLoanDueinApril2024Memberus-gaap:LondonInterbankOfferedRateLIBORMemberrun:NonRecourseDebtMember2020-01-012020-06-300001469367run:AggregationFacilityApril2024Memberus-gaap:BaseRateMemberrun:TermLoanDueinApril2024Memberrun:NonRecourseDebtMember2020-01-012020-06-300001469367run:AggregationFacilityApril2024Memberrun:TermLoanDueinApril2024Memberus-gaap:FederalFundsEffectiveSwapRateMemberrun:NonRecourseDebtMember2020-01-012020-06-300001469367run:AggregationFacilityApril2024Memberrun:TermLoanDueinApril2024Memberrun:LiborFloorRateMemberrun:NonRecourseDebtMember2020-01-012020-06-300001469367run:AggregationFacilityMarch2023Memberus-gaap:LineOfCreditMemberrun:NonRecourseDebtMemberrun:TermLoanDueInMarch2023Member2020-06-300001469367run:AggregationFacilityMarch2023Memberus-gaap:LineOfCreditMemberus-gaap:LondonInterbankOfferedRateLIBORMemberrun:NonRecourseDebtMemberrun:TermLoanDueInMarch2023Member2020-01-012020-06-300001469367run:AggregationFacilityMarch2023Memberus-gaap:LineOfCreditMemberus-gaap:LondonInterbankOfferedRateLIBORMemberrun:NonRecourseDebtMember2020-01-012020-06-300001469367run:AggregationFacilityMarch2023Memberus-gaap:LineOfCreditMemberus-gaap:SubordinatedDebtMemberus-gaap:LondonInterbankOfferedRateLIBORMemberrun:NonRecourseDebtMember2020-01-012020-06-300001469367run:AggregationFacilityMarch2023Memberus-gaap:SubordinatedDebtMemberus-gaap:LondonInterbankOfferedRateLIBORMemberrun:NonRecourseDebtMember2020-01-012020-06-300001469367run:AggregationFacilityMarch2023Memberus-gaap:SubordinatedDebtMemberrun:NonRecourseDebtMembersrt:MinimumMember2020-06-300001469367run:AggregationFacilityMarch2023Membersrt:MaximumMemberus-gaap:SubordinatedDebtMemberrun:NonRecourseDebtMember2020-06-300001469367run:BankTermLoanDueAprilTwentyTwentyTwoMemberrun:SubsidiaryMemberrun:NonRecourseDebtMember2020-06-300001469367run:BankTermLoanDueSeptember2022Memberrun:SubsidiaryMemberrun:NonRecourseDebtMember2020-06-300001469367run:BankTermLoanDueSeptember2022Memberrun:SubsidiaryMemberus-gaap:LondonInterbankOfferedRateLIBORMemberrun:NonRecourseDebtMember2020-06-300001469367run:BankTermLoanDueJanuary2030Memberrun:SubsidiaryMemberrun:NonRecourseDebtMember2020-06-300001469367run:SubsidiaryMemberrun:NonRecourseDebtMemberrun:BankTermLoanDueJuly2030Member2020-06-300001469367run:SubsidiaryMemberrun:NonRecourseDebtMembersrt:MinimumMemberrun:BankTermLoanDueJuly2030Member2020-06-300001469367srt:MaximumMemberrun:SubsidiaryMemberrun:NonRecourseDebtMemberrun:BankTermLoanDueJuly2030Member2020-06-300001469367run:BankTermLoanDueJuly2027Memberrun:SubsidiaryMemberrun:NonRecourseDebtMember2020-06-300001469367run:SubsidiaryMemberrun:NonRecourseDebtMemberrun:BankTermLoanDueNovember2025Member2020-06-300001469367run:LiborFloorRateMemberrun:SubsidiaryMemberrun:NonRecourseDebtMemberrun:BankTermLoanDueNovember2025Member2020-01-012020-06-300001469367run:SubsidiaryMemberus-gaap:LondonInterbankOfferedRateLIBORMemberrun:NonRecourseDebtMemberrun:BankTermLoanDueNovember2025Member2020-01-012020-06-300001469367run:BankLoanDueMarch2024Memberrun:NonRecourseDebtMemberrun:SeniorSecuredRevolvingLetterOfCreditFacilityMember2020-06-300001469367run:BankLoanDueMarch2024Memberus-gaap:LondonInterbankOfferedRateLIBORMemberrun:NonRecourseDebtMemberrun:SeniorSecuredRevolvingLetterOfCreditFacilityMember2020-01-012020-06-300001469367run:AggregationFacilityMemberus-gaap:LondonInterbankOfferedRateLIBORMemberrun:NonRecourseDebtMemberrun:TermLoanMember2020-01-012020-06-300001469367run:SecuritizationDebtMemberrun:SubsidiaryOneMemberrun:NonRecourseDebtMember2020-06-300001469367run:SecuritizationDebtMemberrun:SubsidiaryOneMemberrun:NonRecourseDebtMember2019-12-310001469367run:SecuritizationDebtMemberrun:SubsidiaryOneMemberrun:NonRecourseDebtMember2020-01-012020-06-300001469367run:SecuritizationDebtMemberrun:SubsidiaryTwoMemberrun:NonRecourseDebtMember2020-06-300001469367run:SecuritizationDebtMemberrun:SubsidiaryTwoMemberrun:NonRecourseDebtMember2020-01-012020-06-300001469367run:SecuritizationDebtMemberrun:SubsidiaryThreeMemberrun:NonRecourseDebtMember2020-06-300001469367run:SecuritizationDebtMemberrun:SubsidiaryThreeMemberrun:NonRecourseDebtMember2020-01-012020-06-300001469367run:SecuritizationDebtMemberrun:SubsidiaryFourMemberrun:NonRecourseDebtMember2020-06-300001469367run:SecuritizationDebtMemberrun:SubsidiaryFourMemberrun:NonRecourseDebtMember2020-01-012020-06-300001469367us-gaap:InterestRateSwapMember2020-06-30run:derivative_instrumentrun:Instrument0001469367run:InterestRateSwapContractOneMemberus-gaap:InterestRateSwapMember2020-06-300001469367run:InterestRateSwapContractOneMembersrt:MinimumMemberus-gaap:InterestRateSwapMember2020-06-300001469367run:InterestRateSwapContractOneMembersrt:MaximumMemberus-gaap:InterestRateSwapMember2020-06-300001469367run:InterestRateSwapContractTwoMemberus-gaap:InterestRateSwapMember2020-06-300001469367run:InterestRateSwapContractTwoMembersrt:MinimumMemberus-gaap:InterestRateSwapMember2020-06-300001469367srt:MaximumMemberrun:InterestRateSwapContractTwoMemberus-gaap:InterestRateSwapMember2020-06-300001469367run:InterestRateSwapContractThreeMemberus-gaap:InterestRateSwapMember2020-06-300001469367run:InterestRateSwapContractThreeMembersrt:MinimumMemberus-gaap:InterestRateSwapMember2020-06-300001469367run:InterestRateSwapContractThreeMembersrt:MaximumMemberus-gaap:InterestRateSwapMember2020-06-300001469367run:InterestRateSwapContractFourMemberus-gaap:InterestRateSwapMember2020-06-300001469367run:InterestRateSwapContractFourMembersrt:MinimumMemberus-gaap:InterestRateSwapMember2020-06-300001469367run:InterestRateSwapContractFourMembersrt:MaximumMemberus-gaap:InterestRateSwapMember2020-06-300001469367run:Interestrateswap10312031Memberus-gaap:InterestRateSwapMember2020-06-300001469367srt:MinimumMemberrun:Interestrateswap10312031Memberus-gaap:InterestRateSwapMember2020-06-300001469367srt:MaximumMemberrun:Interestrateswap10312031Memberus-gaap:InterestRateSwapMember2020-06-300001469367run:Interestrateswap10312031Member2020-06-300001469367us-gaap:InterestRateSwapMemberrun:InterestRateSwapContractFiveMember2020-06-300001469367srt:MinimumMemberrun:InterestRateSwapContractFiveMemberus-gaap:InterestRateSwapMember2020-06-300001469367srt:MaximumMemberrun:InterestRateSwapContractFiveMemberus-gaap:InterestRateSwapMember2020-06-300001469367us-gaap:InterestRateSwapMemberrun:InterestRateSwapContractSixMember2020-06-300001469367srt:MinimumMemberus-gaap:InterestRateSwapMemberrun:InterestRateSwapContractSixMember2020-06-300001469367srt:MaximumMemberus-gaap:InterestRateSwapMemberrun:InterestRateSwapContractSixMember2020-06-300001469367run:InterestRateSwapContractSevenMemberus-gaap:InterestRateSwapMember2020-06-300001469367us-gaap:InterestRateSwapMemberrun:InterestRateSwapContractEightMember2020-06-300001469367srt:MinimumMemberrun:InterestRateSwapContractEightMemberus-gaap:InterestRateSwapMember2020-06-300001469367srt:MaximumMemberrun:InterestRateSwapContractEightMemberus-gaap:InterestRateSwapMember2020-06-300001469367run:InterestRateSwapContractNineMemberus-gaap:InterestRateSwapMember2020-06-300001469367run:InterestRateSwapContractNineMembersrt:MinimumMemberus-gaap:InterestRateSwapMember2020-06-300001469367srt:MaximumMemberrun:InterestRateSwapContractNineMemberus-gaap:InterestRateSwapMember2020-06-300001469367us-gaap:AssetsLeasedToOthersMembersrt:MinimumMember2020-06-300001469367us-gaap:AssetsLeasedToOthersMembersrt:MaximumMember2020-06-30run:fund0001469367us-gaap:VariableInterestEntityPrimaryBeneficiaryMember2020-01-012020-06-300001469367us-gaap:RestrictedStockUnitsRSUMember2019-12-310001469367us-gaap:RestrictedStockUnitsRSUMember2020-01-012020-06-300001469367us-gaap:RestrictedStockUnitsRSUMember2020-06-300001469367run:EmployeeStockPurchasePlanMember2017-05-012017-05-30run:purchase_period0001469367run:EmployeeStockPurchasePlanMember2017-05-300001469367run:CostOfOperatingLeasesAndIncentivesMember2020-04-012020-06-300001469367run:CostOfOperatingLeasesAndIncentivesMember2019-04-012019-06-300001469367run:CostOfOperatingLeasesAndIncentivesMember2020-01-012020-06-300001469367run:CostOfOperatingLeasesAndIncentivesMember2019-01-012019-06-300001469367run:CostOfSolarEnergySystemsAndProductSalesMember2020-04-012020-06-300001469367run:CostOfSolarEnergySystemsAndProductSalesMember2019-04-012019-06-300001469367run:CostOfSolarEnergySystemsAndProductSalesMember2020-01-012020-06-300001469367run:CostOfSolarEnergySystemsAndProductSalesMember2019-01-012019-06-300001469367us-gaap:SellingAndMarketingExpenseMember2020-04-012020-06-300001469367us-gaap:SellingAndMarketingExpenseMember2019-04-012019-06-300001469367us-gaap:SellingAndMarketingExpenseMember2020-01-012020-06-300001469367us-gaap:SellingAndMarketingExpenseMember2019-01-012019-06-300001469367us-gaap:ResearchAndDevelopmentExpenseMember2020-04-012020-06-300001469367us-gaap:ResearchAndDevelopmentExpenseMember2019-04-012019-06-300001469367us-gaap:ResearchAndDevelopmentExpenseMember2020-01-012020-06-300001469367us-gaap:ResearchAndDevelopmentExpenseMember2019-01-012019-06-300001469367us-gaap:GeneralAndAdministrativeExpenseMember2020-04-012020-06-300001469367us-gaap:GeneralAndAdministrativeExpenseMember2019-04-012019-06-300001469367us-gaap:GeneralAndAdministrativeExpenseMember2020-01-012020-06-300001469367us-gaap:GeneralAndAdministrativeExpenseMember2019-01-012019-06-300001469367us-gaap:LetterOfCreditMembersrt:MinimumMember2020-01-012020-06-300001469367us-gaap:LetterOfCreditMembersrt:MaximumMember2020-01-012020-06-300001469367us-gaap:LetterOfCreditMembersrt:MinimumMember2019-01-012019-12-310001469367us-gaap:LetterOfCreditMembersrt:MaximumMember2019-01-012019-12-310001469367us-gaap:SettledLitigationMember2020-06-300001469367us-gaap:EmployeeStockOptionMember2020-04-012020-06-300001469367us-gaap:EmployeeStockOptionMember2019-04-012019-06-300001469367us-gaap:EmployeeStockOptionMember2020-01-012020-06-300001469367us-gaap:EmployeeStockOptionMember2019-01-012019-06-300001469367us-gaap:RestrictedStockUnitsRSUMember2020-04-012020-06-300001469367us-gaap:RestrictedStockUnitsRSUMember2019-04-012019-06-300001469367us-gaap:RestrictedStockUnitsRSUMember2020-01-012020-06-300001469367us-gaap:RestrictedStockUnitsRSUMember2019-01-012019-06-300001469367run:OmniEnergyLLCMember2019-07-012019-07-310001469367run:OmniEnergyLLCMember2019-07-310001469367run:OmniEnergyLLCMemberus-gaap:CustomerRelationshipsMember2019-07-310001469367run:OmniEnergyLLCMemberus-gaap:CustomerRelationshipsMember2019-07-012019-07-310001469367run:VivintSolarMemberus-gaap:SubsequentEventMemberus-gaap:CommonStockMember2020-07-062020-07-060001469367run:VivintSolarMemberus-gaap:SubsequentEventMember2020-07-060001469367us-gaap:SubsequentEventMember2020-07-060001469367run:VivintSolarMemberus-gaap:SubsequentEventMembersrt:MinimumMember2020-07-060001469367run:VivintSolarMemberus-gaap:SubsequentEventMembersrt:MaximumMember2020-07-060001469367us-gaap:SubsequentEventMemberrun:SKESCoLtdMemberus-gaap:CommonStockMember2020-07-292020-07-290001469367us-gaap:SubsequentEventMemberrun:SKESCoLtdMemberus-gaap:CommonStockMember2020-07-290001469367us-gaap:SubsequentEventMemberrun:SunrunSKESCoLtdAndOtherAffiliatedEntitiesMemberrun:HomeElectrificationJointVentureMember2020-07-290001469367us-gaap:SubsequentEventMemberrun:HomeElectrificationJointVentureMemberrun:SKESCoLtdMember2020-07-292020-07-290001469367us-gaap:SubsequentEventMemberrun:HomeElectrificationJointVentureMember2020-07-292020-07-29



UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 10-Q


(Mark One)
QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the quarterly period ended June 30, 2020
OR
TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
Commission File Number: 001-37511 
Sunrun Inc.
(Exact name of registrant as specified in its charter)

Delaware26-2841711
(State or other jurisdiction of
incorporation or organization)
(I.R.S. Employer
Identification No.)

225 Bush Street, Suite 1400
San Francisco, California 94104
(Address of principal executive offices and Zip Code)

(415) 580-6900
(Registrant’s telephone number, including area code) 


Securities registered pursuant to Section 12(b) of the Act:
Title of each classTrading Symbol(s)Name of each exchange on which registered
Common Stock, $0.0001 par value per shareRUNNasdaq Global Select Market

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.    Yes      No  

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).    Yes      No  

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definition of “large accelerated filer”, “accelerated filer”, “smaller reporting company”, and “emerging growth company” in Rule 12b-2 of the Exchange Act.
Large accelerated filerAccelerated filer
     
Non-accelerated filerSmaller reporting company
     
Emerging growth company


If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.  

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).    Yes      No  
As of August 6, 2020, the number of shares of the registrant’s common stock outstanding was 123,174,691.




Table of Contents

Page
Item 1
Item 2.
Item 3.
Item 4.
Item 1.
Item 1A.
Item 2.
Item 5.
Item 6.

1



Sunrun Inc.
Consolidated Balance Sheets
(In Thousands, Except Share Par Values)
(Unaudited)
June 30, 2020December 31, 2019
Assets
Current assets:
Cash$269,569  $269,577  
Restricted cash84,515  93,504  
Accounts receivable (net of allowances for doubtful accounts of $2,337 and $3,151 as of June 30, 2020 and December 31, 2019, respectively)
60,000  77,728  
State tax credits receivable  6,466  
Inventories210,507  260,571  
Prepaid expenses and other current assets13,649  25,984  
Total current assets638,240  733,830  
Restricted cash148  148  
Solar energy systems, net4,774,425  4,492,615  
Property and equipment, net47,839  56,708  
Intangible assets, net16,892  19,543  
Goodwill95,094  95,094  
Other assets432,404  408,403  
Total assets (1)
$6,005,042  $5,806,341  
Liabilities and total equity
Current liabilities:
Accounts payable$99,895  $223,356  
Distributions payable to noncontrolling interests and redeemable noncontrolling interests
17,751  16,062  
Accrued expenses and other liabilities187,891  148,497  
Deferred revenue, current portion78,750  77,643  
Deferred grants, current portion8,274  8,093  
Finance lease obligations, current portion8,065  10,064  
Non-recourse debt, current portion105,381  35,348  
Pass-through financing obligation, current portion11,292  11,031  
Total current liabilities517,299  530,094  
Deferred revenue, net of current portion663,797  651,856  
Deferred grants, net of current portion213,956  218,568  
Finance lease obligations, net of current portion8,547  12,895  
Recourse debt236,435  239,485  
Non-recourse debt, net of current portion2,081,725  1,980,107  
Pass-through financing obligation, net of current portion326,278  327,974  
Other liabilities227,984  141,401  
Deferred tax liabilities36,834  65,964  
Total liabilities (1)
4,312,855  4,168,344  
Commitments and contingencies (Note 15)
Redeemable noncontrolling interests450,682  306,565  
Stockholders’ equity:
Preferred stock, $0.0001 par value—authorized, 200,000 shares as of June 30, 2020 and December 31, 2019; no shares issued and outstanding as of June 30, 2020 and December 31, 2019
    
Common stock, $0.0001 par value—authorized, 2,000,000 shares as of June 30, 2020 and December 31, 2019; issued and outstanding, 122,307 and 118,451 shares as of June 30, 2020 and December 31, 2019, respectively
12  12  
Additional paid-in capital806,702  766,006  
Accumulated other comprehensive loss(127,264) (52,753) 
Retained earnings208,717  251,466  
Total stockholders’ equity888,167  964,731  
Noncontrolling interests353,338  366,701  
Total equity1,241,505  1,331,432  
Total liabilities, redeemable noncontrolling interests and total equity$6,005,042  $5,806,341  


2







1)The Company’s consolidated assets as of June 30, 2020 and December 31, 2019 include $3,948,923 and $3,521,202, respectively, in assets of variable interest entities (“VIEs”) that can only be used to settle obligations of the VIEs. These assets include solar energy systems, net, as of June 30, 2020 and December 31, 2019 of $3,557,831 and $3,259,712, respectively; cash as of June 30, 2020 and December 31, 2019 of $155,239 and $133,362, respectively; restricted cash as of June 30, 2020 and December 31, 2019 of $12,411 and $2,746, respectively; accounts receivable, net as of June 30, 2020 and December 31, 2019 of $25,530 and $21,956, respectively; inventories as of June 30, 2020 and December 31, 2019 of $94,175 and 15,721, respectively; prepaid expenses and other current assets as of June 30, 2020 and December 31, 2019 of $1,480 and $554, respectively; and other assets as of June 30, 2020 and December 31, 2019 of $102,257 and $87,151, respectively. The Company’s consolidated liabilities as of June 30, 2020 and December 31, 2019 include $894,449 and $774,564, respectively, in liabilities of VIEs whose creditors have no recourse to the Company. These liabilities include accounts payable as of June 30, 2020 and December 31, 2019 of $14,306 and $11,531, respectively; distributions payable to noncontrolling interests and redeemable noncontrolling interests as of June 30, 2020 and December 31, 2019 of $17,701 and $16,012, respectively; accrued expenses and other current liabilities as of June 30, 2020 and December 31, 2019 of $14,095 and $10,740, respectively; deferred revenue as of June 30, 2020 and December 31, 2019 of $506,486 and $482,138, respectively; deferred grants as of June 30, 2020 and December 31, 2019 of $27,516 and $28,034, respectively; non-recourse debt as of June 30, 2020 and December 31, 2019 of $277,416 and $206,476, respectively; and other liabilities as of June 30, 2020 and December 31, 2019 of $36,929 and $19,633, respectively.
The accompanying notes are an integral part of these consolidated financial statements.
3


Sunrun Inc.
Consolidated Statements of Operations
(In Thousands, Except Per Share Amounts)
(Unaudited)
Three Months Ended June 30,Six Months Ended June 30,
2020201920202019
Revenue:
Customer agreements and incentives$106,095  $92,439  $205,219  $192,289  
Solar energy systems and product sales75,199  112,156  186,806  206,810  
Total revenue181,294  204,595  392,025  399,099  
Operating expenses:
Cost of customer agreements and incentives83,422  70,594  161,699  140,087  
Cost of solar energy systems and product sales
63,746  86,348  155,344  164,147  
Sales and marketing69,701  70,038  139,971  125,991  
Research and development4,971  6,555  9,017  12,029  
General and administrative41,756  33,044  69,830  62,107  
Amortization of intangible assets1,167  814  2,650  1,707  
Total operating expenses264,763  267,393  538,511  506,068  
Loss from operations(83,469) (62,798) (146,486) (106,969) 
Interest expense, net50,721  42,309  100,645  83,649  
Other expenses, net148  1,388  98  6,144  
Loss before income taxes(134,338) (106,495) (247,229) (196,762) 
Income tax expense (benefit)211  (1,910) (3,131) (5,271) 
Net loss(134,549) (104,585) (244,098) (191,491) 
Net loss attributable to noncontrolling interests and redeemable noncontrolling interests
(120,987) (103,292) (202,577) (176,336) 
Net loss attributable to common stockholders
$(13,562) $(1,293) $(41,521) $(15,155) 
Net loss per share attributable to common stockholders
Basic$(0.11) $(0.01) $(0.35) $(0.13) 
Diluted$(0.11) $(0.01) $(0.35) $(0.13) 
Weighted average shares used to compute net loss per share attributable to common stockholders
Basic120,279  115,765  120,201  114,843  
Diluted120,279  115,765  120,201  114,843  

The accompanying notes are an integral part of these consolidated financial statements.

4


Sunrun Inc.
Consolidated Statements of Comprehensive Loss
(In Thousands)
(Unaudited)
Three Months Ended June 30,Six Months Ended June 30,
2020201920202019
Net loss attributable to common stockholders
$(13,562) $(1,293) $(41,521) $(15,155) 
Other comprehensive (loss) income:
Unrealized loss on derivatives, net of income taxes
(2,632) (26,109) (75,175) (43,122) 
Interest income (expense) on derivatives recognized into earnings, net of income taxes
419  21  664  (968) 
Other comprehensive loss
(2,213) (26,088) (74,511) (44,090) 
Comprehensive loss$(15,775) $(27,381) $(116,032) $(59,245) 

5


Sunrun Inc.
Consolidated Statements of Redeemable Noncontrolling Interests and Equity
Three Months Ended June 30, 2020 and 2019
(In Thousands)
(Unaudited)

Three Months Ended June 30, 2020
Redeemable
Noncontrolling
Interests
Preferred StockCommon StockAdditional
Paid-In
Capital
Accumulated
Other
Comprehensive
Loss
Retained
Earnings
Total
Stockholders'
Equity
Noncontrolling
Interests
Total
Equity
SharesAmountSharesAmount
Balance at March 31, 2020
$415,693    $  120,123  $12  $775,233  $(125,051) $222,279  $872,473  $326,191  $1,198,664  
Exercise of stock options
—  —  —  388  —  2,709  —  —  2,709  —  2,709  
Issuance of restricted stock units
—  —  —  1,467  —  2,504  —  —  2,504  —  2,504  
Shares issued in connection with the Employee Stock Purchase Plan
—  —  —  329  —  3,737  —  —  3,737  —  3,737  
Stock-based compensation
—  —  —  —  —  22,519  —  —  22,519  —  22,519  
Contributions from noncontrolling interests and redeemable noncontrolling interests
169,048  —  —  —  —  —  —  —  —  34,997  34,997  
Distributions to noncontrolling interests and redeemable noncontrolling interests
(8,013) —  —  —  —  —  —  —  —  (12,909) (12,909) 
Net (loss) income
(126,046) —  —  —  —  —  —  (13,562) (13,562) 5,059  (8,503) 
Other comprehensive loss, net of taxes
—  —  —  —  —  —  (2,213) —  (2,213) —  (2,213) 
Balance at June 30, 2020
$450,682    $  122,307  $12  $806,702  $(127,264) $208,717  $888,167  $353,338  $1,241,505  

Three Months Ended June 30, 2019
Redeemable
Noncontrolling
Interests
Preferred StockCommon StockAdditional
Paid-In
Capital
Accumulated
Other
Comprehensive
Loss
Retained
Earnings
Total
Stockholders'
Equity
Noncontrolling
Interests
Total
Equity
SharesAmountSharesAmount
Balance at March 31, 2019
$137,616    $  114,739  $11  $730,126  $(21,866) $216,269  $924,540  $377,571  $1,302,111  
Exercise of stock options
—  —  —  1,642  —  10,938  —  —  10,938  —  10,938  
Issuance of restricted stock units, net of tax withholdings
—  —  —  232  —  (2,732) —  —  (2,732) (2,732) 
Shares issued in connection with the Employee Stock Purchase Plan
—  —  —  586  —  3,397  —  —  3,397  3,397  
Stock-based compensation
—  —  —  —  —  6,783  —  —  6,783  6,783  
Contributions from noncontrolling interests and redeemable noncontrolling interests
170,164  —  —  —  —  —  —  —  —  7,998  7,998  
Distributions to noncontrolling interests and redeemable noncontrolling interests
(3,552) —  —  —  —  —  —  —  —  (14,424) (14,424) 
Net loss
(25,689) —  —  —  —  —  (1,293) (1,293) (77,603) (78,896) 
Other comprehensive loss, net of taxes
—  —  —  —  —  —  (26,088) —  (26,088) —  (26,088) 
Balance at June 30, 2019
$278,539    $  117,199  $11  $748,512  $(47,954) $214,976  $915,545  $293,542  $1,209,087  


6


Sunrun Inc.
Consolidated Statements of Redeemable Noncontrolling Interests and Equity
Six Months Ended June 30, 2020 and 2019
(In Thousands)
(Unaudited)

Six Months Ended June 30, 2020
Redeemable
Noncontrolling
Interests
Preferred StockCommon StockAdditional
Paid-In
Capital
Accumulated
Other
Comprehensive
Loss
Retained
Earnings
Total
Stockholders'
Equity
Noncontrolling
Interests
Total
Equity
SharesAmountSharesAmount
Balance at December 31, 2019
$306,565    $  118,451  $12  $766,006  $(52,753) $251,466  $964,731  $366,701  $1,331,432  
Cumulative effect of adoption of new ASU (No. 2016-13)
—  —  —  —  —  —  —  (1,228) (1,228) —  (1,228) 
Exercise of stock options
—  —  —  1,397  —  8,658  —  —  8,658  —  8,658  
Issuance of restricted stock units, net of tax withholdings
—  —  —  2,130  —  (1,026) —  —  (1,026) —  (1,026) 
Shares issued in connection with the Employee Stock Purchase Plan
—  —  —  329  —  3,737  —  —  3,737  —  3,737  
Stock-based compensation
—  —  —  —  —  29,327  —  —  29,327  —  29,327  
Contributions from noncontrolling interests and redeemable noncontrolling interests
319,952  —  —  —  —  —  —  —  —  54,997  54,997  
Distributions to noncontrolling interests and redeemable noncontrolling interests
(15,097) —  —  —  —  —  —  —  —  (26,521) (26,521) 
Net loss
(160,738) —  —  —  —  —  —  (41,521) (41,521) (41,839) (83,360) 
Acquisition of noncontrolling interest
—  —  —  —  —  —  —  —  —    
Other comprehensive loss, net of taxes
—