Annual report pursuant to Section 13 and 15(d)

Consolidated Balance Sheets (Parenthetical)

v3.22.4
Consolidated Balance Sheets (Parenthetical) - USD ($)
$ in Thousands
Dec. 31, 2022
Dec. 31, 2021
Allowance for doubtful accounts $ 13,381 $ 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) 214,184,000 208,176,000
Common stock, shares outstanding (in shares) 214,184,000 208,176,000
Total assets [1] $ 19,268,805 $ 16,483,252
Solar energy systems, net 10,988,361 9,459,696
Cash 740,508 617,634
Restricted cash 212,367 232,649
Accounts receivable (net of allowances for credit losses of $13,381 and $11,035    as of December 31, 2022 and 2021, respectively) 214,255 146,037
Inventories 783,904 506,819
Prepaid expenses and other current assets 146,609 44,580
Other assets 1,827,518 1,125,743
Total liabilities [1] 11,089,788 8,910,665
Accounts payable 339,166 288,108
Distributions payable to noncontrolling interests and redeemable noncontrolling interests 32,050 31,582
Accrued expenses and other liabilities 406,466 364,136
Deferred revenue 1,095,973 873,611
Total debt, net 8,399,149 6,502,890
Other liabilities 140,290 190,056
Variable Interest Entities    
Total assets 10,031,506 8,381,220
Solar energy systems, net 8,968,835 7,605,769
Cash 457,005 377,044
Restricted cash 44,514 70,346
Accounts receivable (net of allowances for credit losses of $13,381 and $11,035    as of December 31, 2022 and 2021, respectively) 66,847 55,714
Inventories 193,836 93,604
Prepaid expenses and other current assets 12,698 1,519
Other assets 287,771 177,224
Total liabilities 2,227,002 2,152,492
Accounts payable 36,315 26,042
Distributions payable to noncontrolling interests and redeemable noncontrolling interests 32,051 31,582
Accrued expenses and other liabilities 32,512 31,036
Deferred revenue 621,457 530,385
Deferred grants 0 25,634
Other liabilities 15,260 25,205
Variable Interest Entities | Recourse    
Total debt, net $ 1,489,407 $ 1,482,608
[1] The Company’s consolidated assets as of December 31, 2022 and 2021 include $10,031,506 and $8,381,220, respectively, in assets of variable interest entities, or “VIEs”, that can only be used to settle obligations of the VIEs. Solar energy systems, net, as of December 31, 2022 and 2021 were $8,968,835 and $7,605,769, respectively; cash as of December 31, 2022 and 2021 were $457,005 and $377,044, respectively; restricted cash as of December 31, 2022 and 2021 were $44,514 and $70,346, respectively; accounts receivable, net as of December 31, 2022 and 2021 were $66,847 and $55,714, respectively; inventories as of December 31, 2022 and  2021 of $193,836 and $93,604, respectively; prepaid expenses and other current assets as of December 31, 2022 and 2021 were $12,698 and $1,519, respectively and other assets as of December 31, 2022 and 2021 were $287,771 and $177,224, respectively. The Company’s consolidated liabilities as of December 31, 2022 and 2021 include $2,227,002 and $2,152,492, respectively, in liabilities of VIEs whose creditors have no recourse to the Company. These liabilities include accounts payable as of December 31, 2022 and 2021 of $36,315 and $26,042, respectively; distributions payable to noncontrolling interests and redeemable noncontrolling interests as of December 31, 2022 and 2021 of $32,051 and $31,582, respectively; accrued expenses and other liabilities as of December 31, 2022 and 2021 of $32,512 and $31,036, respectively; deferred revenue as of December 31, 2022 and 2021 of $621,457 and $530,385, respectively; deferred grants as of December 31, 2022 and 2021 of $0 and $25,634, respectively; non-recourse debt as of December 31, 2022 and 2021 of $1,489,407 and $1,482,608, respectively; and other liabilities as of December 31, 2022 and 2021 of $15,260 and $25,205, respectively.