Quarterly report pursuant to Section 13 or 15(d)

Summary of Significant Accounting Policies (Tables)

v3.19.3
Summary of Significant Accounting Policies (Tables)
9 Months Ended
Sep. 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 September 30,
 
Nine Months Ended September 30,
 
 
2019
 
2018
 
2019
 
2018
Customer agreements
 
$
89,241

 
$
70,864

 
$
253,046

 
$
199,171

Incentives
 
7,008

 
43,708

 
35,492

 
73,996

Customer agreements and incentives
 
96,249

 
114,572

 
288,538

 
273,167

 
 
 
 
 
 
 
 
 
Solar energy systems
 
67,230

 
47,771

 
192,235

 
122,503

Products
 
52,063

 
42,617

 
133,868

 
124,191

Solar energy systems and product sales
 
119,293

 
90,388

 
326,103

 
246,694

Total revenue
 
$
215,542

 
$
204,960

 
$
614,641

 
$
519,861


Cash and restricted cash Cash and restricted cash consist of the following (in thousands):
 
 
Nine Months Ended September 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
 
$
324,698

 
$
242,936

   Restricted cash, current and long-term
 
48,714

 
32,197

Total
 
$
373,412

 
$
275,133


Cash and restricted cash Cash and restricted cash consist of the following (in thousands):
 
 
Nine Months Ended September 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
 
$
324,698

 
$
242,936

   Restricted cash, current and long-term
 
48,714

 
32,197

Total
 
$
373,412

 
$
275,133


Accounts receivable, net Accounts receivable, net, consists of the following (in thousands):
 
 
September 30, 2019
 
December 31, 2018
Customer receivables
 
$
75,108

 
$
64,180

Other receivables
 
1,033

 
1,466

Rebates receivable
 
1,948

 
3,017

Allowance for doubtful accounts
 
(2,737
)
 
(2,228
)
Total
 
$
75,352

 
$
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):
 
 
September 30, 2019
 
December 31, 2018
Under Customer Agreements:
 
 
 
 
Payments received
 
$
558,875

 
$
538,926

Financing component balance
 
43,101

 
37,801

 
 
601,976

 
576,727

 
 
 
 
 
Under SREC contracts:
 
 
 
 
Payments received
 
107,846

 
12,977

Financing component balance
 
3,241

 
1,921

 
 
111,087

 
14,898

 
 
 
 
 
Total
 
$
713,063

 
$
591,625