Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Cash Flows (Unaudited)

v3.10.0.1
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Operating activities:    
Net loss $ (210,671) $ (231,580)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization, net of amortization of deferred grants 113,711 94,077
Deferred income taxes 6,590 30,697
Stock-based compensation expense 21,983 16,494
Interest on pass-through financing obligations 12,464 9,457
Reduction in pass-through financing obligations (69,842) (13,799)
Other noncash losses and expenses 20,636 15,341
Changes in operating assets and liabilities:    
Accounts receivable (6,063) (8,783)
Inventories (1,551) 4,003
Prepaid and other assets (54,157) (37,152)
Accounts payable 18,289 31,669
Accrued expenses and other liabilities (16,727) (5,288)
Deferred revenue 21,582 30,834
Net cash used in operating activities (143,756) (64,030)
Investing activities:    
Payments for the costs of solar energy systems (571,181) (558,393)
Purchases of property and equipment (3,079) (5,956)
Net cash used in investing activities (574,260) (564,349)
Financing activities:    
Proceeds from state tax credits, net of recapture 10,949 12,785
Payment of debt fees (9,839) (6,332)
Proceeds from pass-through financing and other obligations 286,642 4,639
Payment of finance lease obligations (6,390) (7,585)
Contributions received from noncontrolling interests and redeemable noncontrolling interests 247,704 471,322
Distributions paid to noncontrolling interests and redeemable noncontrolling interests (50,726) (38,761)
Proceeds from exercises of stock options, net of withholding taxes paid on restricted stock units 8,676 (207)
Net cash provided by financing activities 751,359 640,146
Net change in cash and restricted cash 33,343 11,767
Cash and restricted cash, beginning of period 241,790 224,363
Cash and restricted cash, end of period 275,133 236,130
Supplemental disclosures of cash flow information    
Cash paid for interest 55,601 29,383
Cash paid for 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 23,445 29,206
Purchases of solar energy systems included in non-recourse debt 0 12,873
Right-of-use assets obtained in exchange for new finance lease liabilities 9,001 166
Recourse debt    
Financing activities:    
Proceeds from issuance of debt 17,000 125,400
Repayment of debt (17,000) (122,400)
Non-recourse debt    
Financing activities:    
Proceeds from issuance of debt 488,376 294,086
Repayment of debt $ (224,033) $ (92,801)