Quarterly report pursuant to Section 13 or 15(d)

VIE Arrangements

v3.21.2
VIE Arrangements
9 Months Ended
Sep. 30, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
VIE Arrangements VIE Arrangements
The Company consolidated various VIEs at September 30, 2021 and December 31, 2020. The carrying amounts and classification of the VIEs’ assets and liabilities included in the consolidated balance sheets are as follows (in thousands):
September 30, 2021 December 31, 2020
Assets
Current assets
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 
Total current assets 470,644  315,148 
Solar energy systems, net 7,252,540  6,748,127 
Other assets 160,048  127,591 
Total assets $ 7,883,232  $ 7,190,866 
Liabilities
Current liabilities
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, current portion 42,793  44,906 
Deferred grants, current portion 999  1,007 
Non-recourse debt, current portion 59,257  31,594 
Total current liabilities 193,946  146,353 
Deferred revenue, net of current portion 466,149  493,161 
Deferred grants, net of current portion 24,945  25,891 
Non-recourse debt, net of current portion 1,389,908  1,160,817 
Other liabilities 25,477  31,745 
Total liabilities $ 2,100,425  $ 1,857,967 
The Company holds certain variable interests in nonconsolidated VIEs established as a result of six pass-through Fund arrangements as further explained in Note 10, 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.