Annual report pursuant to Section 13 and 15(d)

VIE Arrangements

v3.22.4
VIE Arrangements
 12 Months Ended
Dec. 31, 2022
Variable Interest Entity Disclosure [Abstract]  
VIE Arrangements VIE Arrangements
The Company consolidated various VIEs at December 31, 2022 and 2021. The carrying amounts and classification of the VIEs’ assets and liabilities included in the consolidated balance sheets are as follows (in thousands):
December 31,
2022 2021
Assets
Current assets
Cash
 $ 457,005  $ 377,044 
Restricted cash
 44,514  70,346 
Accounts receivable, net
 66,847  55,714 
Inventories 193,836  93,604 
Prepaid expenses and other current assets
 12,698  1,519 
Total current assets
 774,900  598,227 
Solar energy systems, net
 8,968,835  7,605,769 
Other assets
 287,771  177,224 
Total assets
 $ 10,031,506  $ 8,381,220 
Liabilities
Current liabilities
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, current portion
 49,037  45,956 
Deferred grants, current portion
 —  997 
Non-recourse debt, current portion 39,894  41,284 
Total current liabilities
 189,809  176,897 
Deferred revenue, net of current portion
 572,420  484,429 
Deferred grants, net of current portion
 —  24,637 
Non-recourse debt, net of current portion 1,449,513  1,441,324 
Other liabilities 15,260  25,205 
Total liabilities
 $ 2,227,002  $ 2,152,492 
The Company holds certain variable interests in nonconsolidated VIEs established as a result of six pass-through Fund arrangements as further explained in Note 13, 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.