Quarterly report pursuant to Section 13 or 15(d)

Summary of Significant Accounting Policies (Tables)

v3.19.2
Summary of Significant Accounting Policies (Tables)
6 Months Ended
Jun. 30, 2019
Accounting Policies [Abstract]  
Schedule of revenue from external customers
Revenue from external customers for each group of similar products and services is as follows (in thousands):
 
 
Three Months Ended June 30,
 
Six Months Ended June 30,
 
 
2019
 
2018
 
2019
 
2018
Customer agreements
 
$
85,277

 
$
66,658

 
$
163,805

 
$
128,307

Incentives
 
7,162

 
24,947

 
28,484

 
30,288

Customer agreements and incentives
 
92,439

 
91,605

 
192,289

 
158,595

 
 
 
 
 
 
 
 
 
Solar energy systems
 
66,569

 
40,734

 
125,005

 
74,732

Products
 
45,587

 
38,199

 
81,805

 
81,574

Solar energy systems and product sales
 
112,156

 
78,933

 
206,810

 
156,306

Total revenue
 
$
204,595

 
$
170,538

 
$
399,099

 
$
314,901


Cash and restricted cash Cash and restricted cash consist of the following (in thousands):
 
 
Six Months Ended June 30,
 
 
2019
 
2018
Beginning of period:
 
 
 
 
   Cash
 
$
226,625

 
$
202,525

   Restricted cash, current and long-term
 
77,774

 
39,265

Total
 
$
304,399

 
$
241,790

 
 
 
 
 
End of period:
 
 
 
 
   Cash
 
$
299,537

 
$
215,706

   Restricted cash, current and long-term
 
54,330

 
54,697

Total
 
$
353,867

 
$
270,403


Cash and restricted cash Cash and restricted cash consist of the following (in thousands):
 
 
Six Months Ended June 30,
 
 
2019
 
2018
Beginning of period:
 
 
 
 
   Cash
 
$
226,625

 
$
202,525

   Restricted cash, current and long-term
 
77,774

 
39,265

Total
 
$
304,399

 
$
241,790

 
 
 
 
 
End of period:
 
 
 
 
   Cash
 
$
299,537

 
$
215,706

   Restricted cash, current and long-term
 
54,330

 
54,697

Total
 
$
353,867

 
$
270,403


Accounts receivable, net Accounts receivable, net, consists of the following (in thousands):
 
 
June 30, 2019
 
December 31, 2018
Customer receivables
 
$
77,074

 
$
64,180

Other receivables
 
1,451

 
1,466

Rebates receivable
 
1,948

 
3,017

Allowance for doubtful accounts
 
(2,627
)
 
(2,228
)
Total
 
$
77,846

 
$
66,435


Deferred revenue
The opening balance of deferred revenue was $564.9 million as of December 31, 2017. Deferred revenue consists of the following (in thousands):
 
 
June 30, 2019
 
December 31, 2018
Under Customer Agreements:
 
 
 
 
Payments received
 
$
552,227

 
$
538,926

Financing component balance
 
41,341

 
37,801

 
 
593,568

 
576,727

 
 
 
 
 
Under SREC contracts:
 
 
 
 
Payments received
 
107,279

 
12,977

Financing component balance
 
2,584

 
1,921

 
 
109,863

 
14,898

 
 
 
 
 
Total
 
$
703,431

 
$
591,625