Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Cash Flows

v3.22.2.2
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Operating activities:    
Net loss $ (521,731) $ (659,064)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization, net of amortization of deferred grants 331,856 286,001
Deferred income taxes 0 (18,709)
Stock-based compensation expense 88,702 160,754
Interest on pass-through financing obligations 15,079 16,288
Reduction in pass-through financing obligations (31,105) (32,160)
Unrealized gain on derivatives (191,818) (24,677)
Other noncash items 26,368 63,333
Changes in operating assets and liabilities:    
Accounts receivable (87,307) (90,170)
Inventories (82,275) (161,474)
Prepaid and other assets (283,715) (273,948)
Accounts payable (14,763) 120,412
Accrued expenses and other liabilities 72,801 27,953
Deferred revenue 133,788 49,632
Net cash used in operating activities (544,120) (535,829)
Investing activities:    
Payments for the costs of solar energy systems (1,481,556) (1,186,330)
Purchase of equity investment (75,000) 0
Purchases of property and equipment, net (10,820) (11,640)
Net cash used in investing activities (1,567,376) (1,197,970)
Financing activities:    
Proceeds from line of credit 1,018,967 526,980
Repayment of line of credit (724,066) (548,356)
Proceeds from issuance of convertible senior notes, net of capped call transaction 0 371,998
Payment of debt fees (42,282) (42,757)
Proceeds from pass-through financing and other obligations, net 1,451 7,857
Repayment of pass-through financing obligation 0 (18,050)
Payment of finance lease obligations (10,489) (9,243)
Contributions received from noncontrolling interests and redeemable noncontrolling interests 925,550 900,332
Distributions paid to noncontrolling interests and redeemable noncontrolling interests (152,105) (142,036)
Acquisition of noncontrolling interest (37,373) (41,572)
Net proceeds related to stock-based award activities 22,555 23,350
Net cash provided by financing activities 2,217,118 1,966,712
Net change in cash and restricted cash 105,622 232,913
Cash and restricted cash, beginning of period 850,431 708,208
Cash and restricted cash, end of period 956,053 941,121
Supplemental disclosures of cash flow information    
Cash paid for interest 209,723 169,737
Cash paid for income taxes 0 0
Supplemental disclosures of noncash investing and financing activities    
Purchases of solar energy systems and property and equipment included in accounts payable and accrued expenses 52,246 56,818
Right-of-use assets obtained in exchange for new finance lease liabilities 17,000 9,424
Non-recourse debt    
Financing activities:    
Proceeds from issuance of non-recourse debt 2,381,630 1,691,255
Repayment of non-recourse debt $ (1,166,720) $ (753,046)