Annual report pursuant to Section 13 and 15(d)

Consolidated Balance Sheets (Parenthetical)

v3.19.3.a.u2
Consolidated Balance Sheets (Parenthetical) - USD ($)
$ in Thousands
Dec. 31, 2019
Dec. 31, 2018
Allowance for doubtful accounts $ 3,151 $ 2,228
Preferred stock, par value (in usd 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 usd 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) 118,451,000 113,149,000
Common stock, shares outstanding (in shares) 118,451,000 113,149,000
Total assets [1] $ 5,806,341 $ 4,749,787
Property and equipment, net 56,708 34,893
Solar energy systems, net   3,820,017
Cash 269,577 226,625
Restricted cash 93,504 77,626
Accounts receivable, net 77,728 66,435
Inventories 260,571 79,467
Prepaid expenses and other current assets 25,984 8,563
Other assets 408,403 335,685
Total liabilities [1] 4,168,344 3,340,703
Accounts payable 223,356 131,278
Distributions payable to noncontrolling interests and redeemable noncontrolling interests 16,062 15,847
Accrued expenses and other liabilities 148,497 98,636
Deferred revenue 729,499 591,625
Other liabilities 141,401 48,210
Variable Interest Entities    
Total assets 3,521,202 2,905,295
Solar energy systems, net   2,712,377
Cash 133,362 105,494
Restricted cash 2,746 2,071
Accounts receivable, net 21,956 18,539
Inventories 15,721 0
Prepaid expenses and other current assets 554 387
Other assets 87,151 66,427
Total liabilities 774,564 660,758
Accounts payable 11,531 12,136
Distributions payable to noncontrolling interests and redeemable noncontrolling interests 16,012 15,797
Accrued expenses and other liabilities 10,740 7,122
Deferred revenue 482,138 396,920
Deferred grants 28,034 29,229
Non-recourse debt 206,476 190,711
Other liabilities 19,633 $ 8,843
Assets Leased to Others    
Property and equipment, net 4,492,615  
Assets Leased to Others | Variable Interest Entities    
Property and equipment, net $ 3,259,712  
[1]
The Company’s consolidated assets as of December 31, 2019 and 2018 include $3,521,202 and $2,905,295, respectively, in assets of variable interest entities, or “VIEs”, that can only be used to settle obligations of the VIEs. Solar energy systems, net, as of December 31, 2019 and 2018 were $3,259,712 and $2,712,377, respectively; cash as of December 31, 2019 and 2018 were $133,362 and $105,494, respectively; restricted cash as of December 31, 2019 and 2018 were $2,746 and $2,071, respectively; accounts receivable, net as of December 31, 2019 and 2018 were $21,956 and $18,539, respectively; inventories as of December 31, 2019 and December 31, 2018 of $15,721 and $0; prepaid expenses and other current assets as of December 31, 2019 and 2018 were $554 and $387, respectively and other assets as of December 31, 2019 and 2018 were $87,151 and $66,427, respectively. The Company’s consolidated liabilities as of December 31, 2019 and 2018 include $774,564 and $660,758, respectively, in liabilities of VIEs whose creditors have no recourse to the Company. These liabilities include accounts payable as of December 31, 2019 and 2018 of $11,531 and $12,136, respectively; distributions payable to noncontrolling interests and redeemable noncontrolling interests as of December 31, 2019 and 2018 of $16,012 and $15,797, respectively; accrued expenses and other liabilities as of December 31, 2019 and 2018 of $10,740 and $7,122, respectively; deferred revenue as of December 31, 2019 and 2018 of $482,138 and $396,920, respectively; deferred grants as of December 31, 2019 and 2018 of $28,034 and $29,229, respectively; non-recourse debt as of December 31, 2019 and 2018 of $206,476 and $190,711, respectively; and other liabilities as of December 31, 2019 and December 31, 2018 of $19,633 and $8,843, respectively.