Annual report pursuant to Section 13 and 15(d)

Consolidated Balance Sheets (Parenthetical)

v3.20.4
Consolidated Balance Sheets (Parenthetical) - USD ($)
$ in Thousands
Dec. 31, 2020
Dec. 31, 2019
Allowance for doubtful accounts $ 4,861 $ 3,151
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) 201,406,000 118,451,000
Common stock, shares outstanding (in shares) 201,406,000 118,451,000
Total assets [1] $ 14,382,943 $ 5,806,341
Property and equipment, net 62,182 56,708
Cash 519,965 269,577
Restricted cash 188,095 93,504
Accounts receivable, net 95,141 77,728
Inventories 283,045 260,571
Prepaid expenses and other current assets 51,483 32,450
Other assets 681,665 408,403
Total liabilities [1] 7,093,572 4,168,344
Accounts payable 207,441 223,356
Distributions payable to noncontrolling interests and redeemable noncontrolling interests 28,627 16,062
Accrued expenses and other liabilities 325,614 148,497
Deferred revenue 799,276 729,499
Other liabilities 268,684 141,401
Variable Interest Entities    
Total assets 7,190,866 3,521,202
Cash 219,502 133,362
Restricted cash 34,559 2,746
Accounts receivable, net 35,152 21,956
Inventories 23,306 15,721
Prepaid expenses and other current assets 2,629 554
Other assets 127,591 87,151
Total liabilities 1,857,967 774,564
Accounts payable 15,609 11,531
Distributions payable to noncontrolling interests and redeemable noncontrolling interests 28,577 16,012
Accrued expenses and other liabilities 24,660 10,740
Deferred revenue 538,067 482,138
Deferred grants 26,898 28,034
Non-recourse debt 1,192,411 206,476
Other liabilities 31,745 19,633
Solar energy systems, net    
Property and equipment, net 8,202,788 4,492,615
Solar energy systems, net | Variable Interest Entities    
Property and equipment, net $ 6,748,127 $ 3,259,712
[1] The Company’s consolidated assets as of December 31, 2020 and 2019 include $7,190,866 and $3,521,202, 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, 2020 and 2019 were $6,748,127 and $3,259,712, respectively; cash as of December 31, 2020 and 2019 were $219,502 and $133,362, respectively; restricted cash as of December 31, 2020 and 2019 were $34,559 and $2,746, respectively; accounts receivable, net as of December 31, 2020 and 2019 were $35,152 and $21,956, respectively; inventories as of December 31, 2020 and December 31, 2019 of $23,306 and $15,721; prepaid expenses and other current assets as of December 31, 2020 and 2019 were $2,629 and $554, respectively and other assets as of December 31, 2020 and 2019 were $127,591 and $87,151, respectively. The Company’s consolidated liabilities as of December 31, 2020 and 2019 include $1,857,967 and $774,564, respectively, in liabilities of VIEs whose creditors have no recourse to the Company. These liabilities include accounts payable as of December 31, 2020 and 2019 of $15,609 and $11,531, respectively; distributions payable to noncontrolling interests and redeemable noncontrolling interests as of December 31, 2020 and 2019 of $28,577 and $16,012, respectively; accrued expenses and other liabilities as of December 31, 2020 and 2019 of $24,660 and $10,740, respectively; deferred revenue as of December 31, 2020 and 2019 of $538,067 and $482,138, respectively; deferred grants as of December 31, 2020 and 2019 of $26,898 and $28,034, respectively; non-recourse debt as of December 31, 2020 and 2019 of $1,192,411 and $206,476, respectively; and other liabilities as of December 31, 2020 and December 31, 2019 of $31,745 and $19,633, respectively.