Quarterly report pursuant to Section 13 or 15(d)

Consolidated Balance Sheets (Parenthetical)

v3.19.3
Consolidated Balance Sheets (Parenthetical) - USD ($)
$ in Thousands
Sep. 30, 2019
Dec. 31, 2018
Allowance for doubtful accounts $ 2,737 $ 2,228
Preferred stock, par value (in dollars per share) $ 0.0001 $ 0.0001
Preferred stock, shares authorized (in shares) 200,000,000 200,000,000
Preferred stock, shares issued (in shares) 0 0
Preferred stock, shares outstanding (in shares) 0 0
Common stock, par value (in dollars per share) $ 0.0001 $ 0.0001
Common stock, shares authorized (in shares) 2,000,000,000 2,000,000,000
Common stock, shares issued (in shares) 117,924,000 113,149,000
Common stock, shares outstanding (in shares) 117,924,000 113,149,000
Total assets [1] $ 5,472,018 $ 4,749,787
Solar energy systems, net 4,333,387 3,820,017
Cash 324,698 226,625
Restricted cash 48,566 77,626
Accounts receivable, net 75,352 66,435
Prepaid expenses and other current assets 8,847 8,563
Other assets 398,278 335,685
Total liabilities [1] 3,889,830 3,340,703
Accounts payable 169,893 131,278
Distributions payable to noncontrolling interests and redeemable noncontrolling interests 16,808 15,847
Accrued expenses and other liabilities 121,720 98,636
Deferred revenue 713,063 591,625
Non-recourse debt 2,045,309 1,748,922
Other liabilities 166,873 48,210
Variable Interest Entities    
Total assets 3,332,199 2,905,295
Solar energy systems, net 3,045,779 2,712,377
Cash 178,289 105,494
Restricted cash 4,544 2,071
Accounts receivable, net 19,208 18,539
Prepaid expenses and other current assets 549 387
Other assets 83,830 66,427
Total liabilities 734,988 660,758
Accounts payable 14,464 12,136
Distributions payable to noncontrolling interests and redeemable noncontrolling interests 16,466 15,797
Accrued expenses and other liabilities 9,676 7,122
Deferred revenue 446,041 396,920
Deferred grants 28,330 29,229
Non-recourse debt 196,113 190,711
Other liabilities $ 23,898 $ 8,843
[1]
The Company’s consolidated assets as of September 30, 2019 and December 31, 2018 include $3,332,199 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 September 30, 2019 and December 31, 2018 of $3,045,779 and $2,712,377, respectively; cash as of September 30, 2019 and December 31, 2018 of $178,289 and $105,494, respectively; restricted cash as of September 30, 2019 and December 31, 2018 of $4,544 and $2,071, respectively; accounts receivable, net as of September 30, 2019 and December 31, 2018 of $19,208 and $18,539, respectively; prepaid expenses and other current assets as of September 30, 2019 and December 31, 2018 of $549 and $387, respectively; and other assets as of September 30, 2019 and December 31, 2018 of $83,830 and $66,427, respectively. The Company’s consolidated liabilities as of September 30, 2019 and December 31, 2018 include $734,988 and $660,758, respectively, in liabilities of VIEs whose creditors have no recourse to the Company. These liabilities include accounts payable as of September 30, 2019 and December 31, 2018 of $14,464 and $12,136, respectively; distributions payable to noncontrolling interests and redeemable noncontrolling interests as of September 30, 2019 and December 31, 2018 of $16,466 and $15,797, respectively; accrued expenses and other current liabilities as of September 30, 2019 and December 31, 2018 of $9,676 and $7,122, respectively; deferred revenue as of September 30, 2019 and December 31, 2018 of $446,041 and $396,920, respectively; deferred grants as of September 30, 2019 and December 31, 2018 of $28,330 and $29,229, respectively; non-recourse debt as of September 30, 2019 and December 31, 2018 of $196,113 and $190,711, respectively; and other liabilities as of September 30, 2019 and December 31, 2018 of $23,898 and $8,843, respectively.