Annual report pursuant to Section 13 and 15(d)

VIE Arrangements

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VIE Arrangements
12 Months Ended
Dec. 31, 2019
Variable Interest Entity Disclosure [Abstract]  
VIE Arrangements VIE Arrangements
The Company consolidated various VIEs at December 31, 2019 and 2018. The carrying amounts and classification of the VIEs’ assets and liabilities included in the consolidated balance sheets are as follows (in thousands):
 
 
December 31,
 
 
2019
 
2018
Assets
 
 
 
 
Current assets
 
 
 
 
Cash
 
$
133,362

 
$
105,494

Restricted cash
 
2,746

 
2,071

Accounts receivable, net
 
21,956

 
18,539

Inventories
 
15,721

 

Prepaid expenses and other current assets
 
554

 
387

Total current assets
 
174,339

 
126,491

Solar energy systems, net
 
3,259,712

 
2,712,377

Other assets
 
87,151

 
66,427

Total assets
 
$
3,521,202

 
$
2,905,295

Liabilities
 
 
 
 
Current liabilities
 
 
 
 
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, current portion
 
38,265

 
29,102

Deferred grants, current portion
 
1,011

 
982

Non-recourse debt, current portion
 
4,901

 
4,217

Total current liabilities
 
82,460

 
69,356

Deferred revenue, net of current portion
 
443,873

 
367,818

Deferred grants, net of current portion
 
27,023

 
28,247

Non-recourse debt, net of current portion
 
201,575

 
186,494

Other liabilities
 
19,633

 
8,843

Total liabilities
 
$
774,564

 
$
660,758


The Company holds a variable interest in an entity that provides the noncontrolling interest with a right to terminate the leasehold interests in all of the leased projects on the tenth anniversary of the effective date of the master lease. In this circumstance, the Company would be required to pay the noncontrolling interest an amount equal to the fair market value, as defined in the governing agreement of all leased projects as of that date.
The Company holds certain variable interests in nonconsolidated VIEs established as a result of six pass-through Fund arrangements as further explained in Note 14, Pass-Through Financing Obligations. The Company does not have material exposure to losses as a result of its involvement with the VIEs in excess of the amount of the pass-through financing obligation recorded in the Company’s consolidated financial statements. The Company is not considered the primary beneficiary of these VIEs.