Quarterly report pursuant to Section 13 or 15(d)

VIE Arrangements

v3.10.0.1
VIE Arrangements
9 Months Ended
Sep. 30, 2018
Variable Interest Entity Disclosure [Abstract]  
VIE Arrangements
VIE Arrangements
The Company consolidated various VIEs at September 30, 2018 and December 31, 2017. The carrying amounts and classification of the VIEs’ assets and liabilities included in the consolidated balance sheets are as follows (in thousands):
 
 
September 30, 2018
 
December 31, 2017
Assets
 
 
 
 
Current assets
 
 
 
 
Cash
 
$
106,492

 
$
118,352

Restricted cash
 
4,944

 
2,699

Accounts receivable, net
 
19,123

 
18,786

Prepaid expenses and other current assets
 
387

 
917

Total current assets
 
130,946

 
140,754

Solar energy systems, net
 
2,587,296

 
2,385,329

Other assets
 
65,155

 
42,295

Total assets
 
$
2,783,397

 
$
2,568,378

Liabilities
 
 
 
 
Current liabilities
 
 
 
 
Accounts payable
 
$
8,442

 
$
15,929

Distributions payable to noncontrolling interests and redeemable noncontrolling interests
 
15,337

 
13,526

Accrued expenses and other liabilities
 
6,568

 
5,200

Deferred revenue, current portion
 
28,034

 
28,695

Deferred grants, current portion
 
1,016

 
1,021

Non-recourse debt, current portion
 
2,755

 
11,179

Total current liabilities
 
62,152

 
75,550

Deferred revenue, net of current portion
 
360,936

 
381,066

Deferred grants, net of current portion
 
28,489

 
29,385

Non-recourse debt, net of current portion
 
192,539

 
190,106

Other liabilities
 
8,790

 
1,848

Total liabilities
 
$
652,906

 
$
677,955


The Company holds a variable interest in an entity that provides the noncontrolling interest with a right to terminate the leasehold interests in all of the leased projects on the tenth anniversary of the effective date of the master lease. In this circumstance, the Company would be required to pay the noncontrolling interest an amount equal to the fair market value, as defined in the governing agreement of all leased projects as of that date.
The Company holds certain variable interests in nonconsolidated VIEs established as a result of five pass-through financing obligation Fund arrangements as further explained in Note 10, 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.