Quarterly report pursuant to Section 13 or 15(d)

Consolidated Balance Sheets (Parenthetical)

v3.20.2
Consolidated Balance Sheets (Parenthetical) - USD ($)
$ in Thousands
Sep. 30, 2020
Dec. 31, 2019
Allowance for doubtful accounts $ 2,316 $ 3,151
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
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) 127,552,000 118,451,000
Common stock, shares outstanding (in shares) 127,552,000 118,451,000
Total assets [1] $ 6,306,834 $ 5,806,341
Property and equipment, net 44,567 56,708
Cash 276,052 269,577
Restricted cash 105,314 93,504
Accounts receivable, net 70,654 77,728
Inventories 177,967 260,571
Prepaid expenses and other current assets 15,752 25,984
Other assets 526,239 408,403
Total liabilities [1] 4,378,233 4,168,344
Accounts payable 151,804 223,356
Distributions payable to noncontrolling interests and redeemable noncontrolling interests 18,161 16,062
Accrued expenses and other liabilities 196,444 148,497
Deferred revenue 744,961 729,499
Non-recourse debt 2,484,876 2,254,940
Other liabilities 199,320 141,401
Solar energy systems, net    
Property and equipment, net 4,979,322 4,492,615
Variable Interest Entities    
Total assets 4,136,047 3,521,202
Cash 155,201 133,362
Restricted cash 14,495 2,746
Accounts receivable, net 27,471 21,956
Inventories 51,894 15,721
Prepaid expenses and other current assets 1,583 554
Other assets 112,079 87,151
Total liabilities 875,866 774,564
Accounts payable 25,535 11,531
Distributions payable to noncontrolling interests and redeemable noncontrolling interests 17,776 16,012
Accrued expenses and other liabilities 15,053 10,740
Deferred revenue 514,564 482,138
Deferred grants 27,231 28,034
Non-recourse debt 240,531 206,476
Other liabilities 35,176 19,633
Variable Interest Entities | Solar energy systems, net    
Property and equipment, net $ 3,773,324 $ 3,259,712
[1] The Company’s consolidated assets as of September 30, 2020 and December 31, 2019 include $4,136,047 and $3,521,202, 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, 2020 and December 31, 2019 of $3,773,324 and $3,259,712, respectively; cash as of September 30, 2020 and December 31, 2019 of $155,201 and $133,362, respectively; restricted cash as of September 30, 2020 and December 31, 2019 of $14,495 and $2,746, respectively; accounts receivable, net as of September 30, 2020 and December 31, 2019 of $27,471 and $21,956, respectively; inventories as of September 30, 2020 and December 31, 2019 of $51,894 and 15,721, respectively; prepaid expenses and other current assets as of September 30, 2020 and December 31, 2019 of $1,583 and $554, respectively; and other assets as of September 30, 2020 and December 31, 2019 of $112,079 and $87,151, respectively. The Company’s consolidated liabilities as of September 30, 2020 and December 31, 2019 include $875,866 and $774,564, respectively, in liabilities of VIEs whose creditors have no recourse to the Company. These liabilities include accounts payable as of September 30, 2020 and December 31, 2019 of $25,535 and $11,531, respectively; distributions payable to noncontrolling interests and redeemable noncontrolling interests as of September 30, 2020 and December 31, 2019 of $17,776 and $16,012, respectively; accrued expenses and other current liabilities as of September 30, 2020 and December 31, 2019 of $15,053 and $10,740, respectively; deferred revenue as of September 30, 2020 and December 31, 2019 of $514,564 and $482,138, respectively; deferred grants as of September 30, 2020 and December 31, 2019 of $27,231 and $28,034, respectively; non-recourse debt as of September 30, 2020 and December 31, 2019 of $240,531 and $206,476, respectively; and other liabilities as of September 30, 2020 and December 31, 2019 of $35,176 and $19,633, respectively.