Quarterly report pursuant to Section 13 or 15(d)

Consolidated Balance Sheets (Parenthetical)

v3.22.2.2
Consolidated Balance Sheets (Parenthetical) - USD ($)
$ in Thousands
Sep. 30, 2022
Dec. 31, 2021
Allowance for doubtful accounts $ 12,452 $ 11,035
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) 212,954,000 208,176,000
Common stock, shares outstanding (in shares) 212,954,000 208,176,000
Total assets [1] $ 18,568,058 $ 16,483,252
Solar energy systems, net 10,573,591 9,459,696
Cash 672,083 617,634
Restricted cash 283,822 232,649
Accounts receivable, net 218,837 146,037
Inventories 589,094 506,819
Prepaid expenses and other current assets 116,192 44,580
Other assets 1,761,556 1,125,743
Total liabilities [1] 10,514,821 8,910,665
Accounts payable 275,057 288,108
Distributions payable to noncontrolling interests and redeemable noncontrolling interests 38,125 31,582
Accrued expenses and other liabilities 401,141 364,136
Deferred revenue 1,006,985 873,611
Total debt, net 7,985,164 6,502,890
Other liabilities 141,374 190,056
Variable Interest Entities    
Total assets 9,353,167 8,381,220
Solar energy systems, net 8,526,271 7,605,769
Cash 340,122 377,044
Restricted cash 77,423 70,346
Accounts receivable, net 72,125 55,714
Inventories 63,307 93,604
Prepaid expenses and other current assets 9,599 1,519
Other assets 264,320 177,224
Total liabilities 2,138,229 2,152,492
Accounts payable 20,611 26,042
Distributions payable to noncontrolling interests and redeemable noncontrolling interests 38,126 31,582
Accrued expenses and other liabilities 27,994 31,036
Deferred revenue 599,643 530,385
Deferred grants 0 25,634
Total debt, net 1,437,366 1,482,608
Other liabilities $ 14,489 $ 25,205
[1] The Company’s consolidated assets as of September 30, 2022 and December 31, 2021 include $9,353,167 and $8,381,220, 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, 2022 and December 31, 2021 of $8,526,271 and $7,605,769, respectively; cash as of September 30, 2022 and December 31, 2021 of $340,122 and $377,044, respectively; restricted cash as of September 30, 2022 and December 31, 2021 of $77,423 and $70,346, respectively; accounts receivable, net as of September 30, 2022 and December 31, 2021 of $72,125 and $55,714, respectively; inventories as of September 30, 2022 and December 31, 2021 of $63,307 and 93,604, respectively; prepaid expenses and other current assets as of September 30, 2022 and December 31, 2021 of $9,599 and $1,519, respectively; and other assets as of September 30, 2022 and December 31, 2021 of $264,320 and $177,224, respectively. The Company’s consolidated liabilities as of September 30, 2022 and December 31, 2021 include $2,138,229 and $2,152,492, respectively, in liabilities of VIEs whose creditors have no recourse to the Company. These liabilities include accounts payable as of September 30, 2022 and December 31, 2021 of $20,611 and $26,042, respectively; distributions payable to noncontrolling interests and redeemable noncontrolling interests as of September 30, 2022 and December 31, 2021 of $38,126 and $31,582, respectively; accrued expenses and other current liabilities as of September 30, 2022 and December 31, 2021 of $27,994 and $31,036, respectively; deferred revenue as of September 30, 2022 and December 31, 2021 of $599,643 and $530,385, respectively; deferred grants as of September 30, 2022 and December 31, 2021 of $0 and $25,634, respectively; non-recourse debt as of September 30, 2022 and December 31, 2021 of $1,437,366 and $1,482,608, respectively; and other liabilities as of September 30, 2022 and December 31, 2021 of $14,489 and $25,205, respectively.