Quarterly report pursuant to Section 13 or 15(d)

Consolidated Balance Sheets (Parenthetical)

v3.21.1
Consolidated Balance Sheets (Parenthetical) - USD ($)
$ in Thousands
Mar. 31, 2021
Dec. 31, 2020
Allowance for doubtful accounts $ 6,015 $ 4,861
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
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) 203,562,000 201,406,000
Common stock, shares outstanding (in shares) 203,562,000 201,406,000
Total assets [1] $ 14,885,961 $ 14,382,943
Property and equipment, net 58,168 62,182
Cash 649,493 519,965
Restricted cash 163,792 188,095
Accounts receivable, net 125,499 95,141
Inventories 289,772 283,045
Prepaid expenses and other current assets 40,098 51,483
Other assets 801,270 681,665
Total liabilities [1] 7,493,365 7,093,572
Accounts payable 212,230 207,441
Distributions payable to noncontrolling interests and redeemable noncontrolling interests 27,726 28,627
Accrued expenses and other liabilities 312,566 325,614
Deferred revenue 807,131 799,276
Total debt, net 5,274,225 4,796,145
Other liabilities 193,168 268,684
Solar energy systems, net    
Property and equipment, net 8,460,443 8,202,788
Variable Interest Entities    
Total assets 7,574,849 7,190,866
Cash 246,928 219,502
Restricted cash 45,877 34,559
Accounts receivable, net 51,552 35,152
Inventories 40,843 23,306
Prepaid expenses and other current assets 582 2,629
Other assets 150,514 127,591
Total liabilities 2,017,294 1,857,967
Accounts payable 20,124 15,609
Distributions payable to noncontrolling interests and redeemable noncontrolling interests 27,676 28,577
Accrued expenses and other liabilities 24,324 24,660
Deferred revenue 552,553 538,067
Deferred grants 26,594 26,898
Total debt, net 1,342,007 1,192,411
Other liabilities 24,016 31,745
Variable Interest Entities | Solar energy systems, net    
Property and equipment, net $ 7,038,553 $ 6,748,127
[1] The Company’s consolidated assets as of March 31, 2021 and December 31, 2020 include $7,574,849 and $7,190,866, 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 March 31, 2021 and December 31, 2020 of $7,038,553 and $6,748,127, respectively; cash as of March 31, 2021 and December 31, 2020 of $246,928 and $219,502, respectively; restricted cash as of March 31, 2021 and December 31, 2020 of $45,877 and $34,559, respectively; accounts receivable, net as of March 31, 2021 and December 31, 2020 of $51,552 and $35,152, respectively; inventories as of March 31, 2021 and December 31, 2020 of $40,843 and 23,306, respectively; prepaid expenses and other current assets as of March 31, 2021 and December 31, 2020 of $582 and $2,629, respectively; and other assets as of March 31, 2021 and December 31, 2020 of $150,514 and $127,591, respectively. The Company’s consolidated liabilities as of March 31, 2021 and December 31, 2020 include $2,017,294 and $1,857,967, respectively, in liabilities of VIEs whose creditors have no recourse to the Company. These liabilities include accounts payable as of March 31, 2021 and December 31, 2020 of $20,124 and $15,609, respectively; distributions payable to noncontrolling interests and redeemable noncontrolling interests as of March 31, 2021 and December 31, 2020 of $27,676 and $28,577, respectively; accrued expenses and other current liabilities as of March 31, 2021 and December 31, 2020 of $24,324 and $24,660, respectively; deferred revenue as of March 31, 2021 and December 31, 2020 of $552,553 and $538,067, respectively; deferred grants as of March 31, 2021 and December 31, 2020 of $26,594 and $26,898, respectively; non-recourse debt as of March 31, 2021 and December 31, 2020 of $1,342,007 and $1,192,411, respectively; and other liabilities as of March 31, 2021 and December 31, 2020 of $24,016 and $31,745, respectively.