Quarterly report pursuant to Section 13 or 15(d)

Consolidated Balance Sheets (Parenthetical)

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Consolidated Balance Sheets (Parenthetical) - USD ($)
$ in Thousands
Sep. 30, 2021
Dec. 31, 2020
Allowance for doubtful accounts $ 11,349 $ 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 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) 206,887,000 201,406,000
Common stock, shares outstanding (in shares) 206,887,000 201,406,000
Total assets [1] $ 16,089,669 $ 14,382,943
Solar energy systems, net 9,126,451 8,202,788
Cash 717,593 519,965
Restricted cash 223,380 188,095
Accounts receivable, net 177,826 95,141
Inventories 444,519 283,045
Prepaid expenses and other current assets 31,342 51,483
Other assets 1,013,349 681,665
Total liabilities [1] 8,551,259 7,093,572
Accounts payable 347,068 207,441
Distributions payable to noncontrolling interests and redeemable noncontrolling interests 33,350 28,627
Accrued expenses and other liabilities 364,481 325,614
Deferred revenue 848,518 799,276
Other liabilities 188,784 268,684
Variable Interest Entities    
Total assets 7,883,232 7,190,866
Solar energy systems, net 7,252,540 6,748,127
Cash 311,416 219,502
Restricted cash 48,293 34,559
Accounts receivable, net 58,102 35,152
Inventories 50,226 23,306
Prepaid expenses and other current assets 2,607 2,629
Other assets 160,048 127,591
Total liabilities 2,100,425 1,857,967
Accounts payable 28,824 15,609
Distributions payable to noncontrolling interests and redeemable noncontrolling interests 33,350 28,577
Accrued expenses and other liabilities 28,723 24,660
Deferred revenue 508,942 538,067
Deferred grants 25,944 26,898
Total debt, net 1,449,165 1,192,411
Other liabilities $ 25,477 $ 31,745
[1] The Company’s consolidated assets as of September 30, 2021 and December 31, 2020 include $7,883,232 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 September 30, 2021 and December 31, 2020 of $7,252,540 and $6,748,127, respectively; cash as of September 30, 2021 and December 31, 2020 of $311,416 and $219,502, respectively; restricted cash as of September 30, 2021 and December 31, 2020 of $48,293 and $34,559, respectively; accounts receivable, net as of September 30, 2021 and December 31, 2020 of $58,102 and $35,152, respectively; inventories as of September 30, 2021 and December 31, 2020 of $50,226 and 23,306, respectively; prepaid expenses and other current assets as of September 30, 2021 and December 31, 2020 of $2,607 and $2,629, respectively; and other assets as of September 30, 2021 and December 31, 2020 of $160,048 and $127,591, respectively. The Company’s consolidated liabilities as of September 30, 2021 and December 31, 2020 include $2,100,425 and $1,857,967, respectively, in liabilities of VIEs whose creditors have no recourse to the Company. These liabilities include accounts payable as of September 30, 2021 and December 31, 2020 of $28,824 and $15,609, respectively; distributions payable to noncontrolling interests and redeemable noncontrolling interests as of September 30, 2021 and December 31, 2020 of $33,350 and $28,577, respectively; accrued expenses and other current liabilities as of September 30, 2021 and December 31, 2020 of $28,723 and $24,660, respectively; deferred revenue as of September 30, 2021 and December 31, 2020 of $508,942 and $538,067, respectively; deferred grants as of September 30, 2021 and December 31, 2020 of $25,944 and $26,898, respectively; non-recourse debt as of September 30, 2021 and December 31, 2020 of $1,449,165 and $1,192,411, respectively; and other liabilities as of September 30, 2021 and December 31, 2020 of $25,477 and $31,745, respectively.