Quarterly report pursuant to Section 13 or 15(d)

Consolidated Balance Sheets (Parenthetical)

v3.19.2
Consolidated Balance Sheets (Parenthetical) - USD ($)
$ in Thousands
Jun. 30, 2019
Dec. 31, 2018
Allowance for doubtful accounts $ 2,627 $ 2,228
Preferred stock, par value (in dollars per share) $ 0.0001 $ 0.0001
Preferred stock, shares authorized 200,000,000 200,000,000
Preferred stock, shares issued 0 0
Preferred stock, shares outstanding 0 0
Common stock, par value (in dollars per share) $ 0.0001 $ 0.0001
Common stock, shares authorized 2,000,000,000 2,000,000,000
Common stock, shares issued 117,199,000 113,149,000
Common stock, shares outstanding 117,199,000 113,149,000
Total assets [1] $ 5,207,380 $ 4,749,787
Solar energy systems, net 4,149,883 3,820,017
Cash 299,537 226,625
Restricted cash 54,182 77,626
Accounts receivable, net 77,846 66,435
Prepaid expenses and other current assets 8,692 8,563
Other assets 380,919 335,685
Total liabilities [1] 3,719,754 3,340,703
Accounts payable 153,206 131,278
Distributions payable to noncontrolling interests and redeemable noncontrolling interests 16,444 15,847
Accrued expenses and other liabilities 104,328 98,636
Deferred revenue 703,431 591,625
Non-recourse debt 1,963,182 1,748,922
Other liabilities 113,992 48,210
Variable Interest Entities    
Total assets 3,163,835 2,905,295
Solar energy systems, net 2,901,211 2,712,377
Cash 167,194 105,494
Restricted cash 681 2,071
Accounts receivable, net 19,762 18,539
Prepaid expenses and other current assets 387 387
Other assets 74,600 66,427
Total liabilities 710,912 660,758
Accounts payable 8,512 12,136
Distributions payable to noncontrolling interests and redeemable noncontrolling interests 16,257 15,797
Accrued expenses and other liabilities 7,742 7,122
Deferred revenue 444,141 396,920
Deferred grants 28,679 29,229
Non-recourse debt 188,088 190,711
Other liabilities $ 17,493 $ 8,843
[1]
The Company’s consolidated assets as of June 30, 2019 and December 31, 2018 include $3,163,835 and $2,905,295, 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, 2019 and December 31, 2018 of $2,901,211 and $2,712,377, respectively; cash as of June 30, 2019 and December 31, 2018 of $167,194 and $105,494, respectively; restricted cash as of June 30, 2019 and December 31, 2018 of $681 and $2,071, respectively; accounts receivable, net as of June 30, 2019 and December 31, 2018 of $19,762 and $18,539, respectively; prepaid expenses and other current assets as of June 30, 2019 and December 31, 2018 of $387 and $387, respectively; and other assets as of June 30, 2019 and December 31, 2018 of $74,600 and $66,427, respectively. The Company’s consolidated liabilities as of June 30, 2019 and December 31, 2018 include $710,912 and $660,758, respectively, in liabilities of VIEs whose creditors have no recourse to the Company. These liabilities include accounts payable as of June 30, 2019 and December 31, 2018 of $8,512 and $12,136, respectively; distributions payable to noncontrolling interests and redeemable noncontrolling interests as of June 30, 2019 and December 31, 2018 of $16,257 and $15,797, respectively; accrued expenses and other current liabilities as of June 30, 2019 and December 31, 2018 of $7,742 and $7,122, respectively; deferred revenue as of June 30, 2019 and December 31, 2018 of $444,141 and $396,920, respectively; deferred grants as of June 30, 2019 and December 31, 2018 of $28,679 and $29,229, respectively; non-recourse debt as of June 30, 2019 and December 31, 2018 of $188,088 and $190,711, respectively; and other liabilities as of June 30, 2019 and December 31, 2018 of $17,493 and $8,843, respectively.