6. Consolidated Balance Sheet Details (Tables)

9 Months Ended

Sep. 30, 2015

Balance Sheet Related Disclosures [Abstract]

Accounts receivable trade, net

Accounts receivable trade, net consisted of the following at September 30, 2015 and December 31, 2014 (in thousands):



	September 30, 2015			December 31, 2014
Accounts receivable trade, gross	$	328,929		$	142,542
Allowance for doubtful accounts	(2		)	(7,108		)
Accounts receivable trade, net	$	328,927		$	135,434

At September 30, 2015 and December 31, 2014, $20.6 million and $21.4 million, respectively, of our accounts receivable trade, net were secured by letters of credit, bank guarantees, or other forms of financial security issued by creditworthy financial institutions.

Accounts receivable, unbilled and retainage

Accounts receivable, unbilled and retainage consisted of the following at September 30, 2015 and December 31, 2014 (in thousands):



	September 30, 2015		December 31, 2014
Accounts receivable, unbilled	$	219,455	$	41,868
Retainage	21,664		35,103
Accounts receivable, unbilled and retainage	$	241,119	$	76,971

Schedule of Inventories, Current and Noncurrent

Inventories consisted of the following at September 30, 2015 and December 31, 2014 (in thousands):



	September 30, 2015		December 31, 2014
Raw materials	$	158,816	$	157,468
Work in process	25,467		20,829
Finished goods	303,458		442,408
Inventories	$	487,741	$	620,705
Inventories — current	$	379,183	$	505,088
Inventories — noncurrent (1)	$	108,558	$	115,617


(1)	We purchase a critical raw material that is used in our core production process in quantities that exceed anticipated consumption within our operating cycle (which is 12 months). We classify the raw materials that we do not expect to be consumed within our operating cycle as noncurrent.

Scheduel of Prepaid Expenses and Other Current Assets

Prepaid expenses and other current assets consisted of the following at September 30, 2015 and December 31, 2014 (in thousands):



	September 30, 2015		December 31, 2014
Prepaid expenses	$	64,337	$	42,193
Derivative instruments	1,733		9,791
Restricted cash	39,756		74,695
Other current assets	104,573		75,472
Prepaid expenses and other current assets	$	210,399	$	202,151

Schedule of Property, Plant and Equipment, Net

Property, plant and equipment, net consisted of the following at September 30, 2015 and December 31, 2014 (in thousands):



	September 30, 2015			December 31, 2014
Land	$	12,155		$	12,378
Buildings and improvements (1)	411,594			397,087
Machinery and equipment (1)	1,815,151			1,649,363
Office equipment and furniture	141,751			134,268
Leasehold improvements	50,392			50,096
Construction in progress	41,909			154,497
Stored assets (2)	139,507			155,389
Property, plant and equipment, gross	2,612,459			2,553,078
Less: accumulated depreciation	(1,282,405		)	(1,133,090		)
Property, plant and equipment, net	$	1,330,054		$	1,419,988


(1)	In June 2015, we reclassified $15.2 million and $2.5 million from "Assets held for sale" to "Building and improvements" and "Machinery and equipment," respectively, as these assets no longer met the criteria to be classified as held for sale.

(2)

Consists of machinery and equipment (“stored assets”) that were originally purchased for installation in our previously planned manufacturing capacity expansions. We intend to install and place the stored assets into service when such assets are required or beneficial to our existing installed manufacturing capacity or when market demand supports additional or market-specific manufacturing capacity. During the nine months ended September 30, 2015, we transferred $15.9 million of stored assets to our manufacturing facility in Perrysburg, Ohio for use in the production of solar modules. As the remaining stored assets are neither in the condition nor location to produce modules as intended, we will not begin depreciation until such assets are placed into service. The stored assets are evaluated for impairment under a held and used impairment model whenever events or changes in business circumstances arise, including consideration of technological obsolescence, that may indicate that the carrying amount of our long-lived assets may not be recoverable. We ceased the capitalization of interest on our stored assets once they were physically received from the related machinery and equipment vendors.

Schedule of PV Solar Power Systems, Net

PV solar power systems, net consisted of the following at September 30, 2015 and December 31, 2014 (in thousands):



	September 30, 2015			December 31, 2014
PV solar power systems, gross	$	96,532		$	47,727
Accumulated depreciation	(3,112		)	(1,334		)
PV solar power systems, net	$	93,420		$	46,393

Schedule of Capitalized Interest

The components of interest expense and capitalized interest were as follows during the three and nine months ended September 30, 2015 and 2014 (in thousands):



	Three Months Ended September 30,						Nine Months Ended September 30,
	2015			2014			2015			2014
Interest cost incurred	$	(5,697	)	$	(2,415	)	$	(13,923	)	$	(7,451	)
Interest cost capitalized — property, plant and equipment	290			544			1,152			1,566
Interest cost capitalized — project assets	3,632			1,782			9,976			4,456
Interest expense, net	$	(1,775	)	$	(89	)	$	(2,795	)	$	(1,429	)

Schedule of Project Assets and Deferred Project Costs

Project assets and deferred project costs consisted of the following at September 30, 2015 and December 31, 2014 (in thousands):



	September 30, 2015		December 31, 2014
Project assets — land	$	27,229	$	20,170
Project assets — development costs including project acquisition costs	383,210		359,203
Project assets — construction costs	619,997		408,402
Project assets	1,030,436		787,775
Deferred project costs — current	98,421		29,354
Deferred project costs — noncurrent	—		22,573
Deferred project costs	98,421		51,927
Total project assets and deferred project costs	$	1,128,857	$	839,702

Schedule of Other Assets, Noncurrent

Other assets consisted of the following at September 30, 2015 and December 31, 2014 (in thousands):



	September 30, 2015		December 31, 2014
Notes receivable (1)	$	12,111	$	12,096
Income taxes receivable	4,058		4,850
Deferred rent	23,433		23,823
Other	25,571		20,901
Other assets	$	65,173	$	61,670

(1)

On April 8, 2009, we entered into a credit facility agreement with a solar power project entity of one of our customers for an available amount of €17.5 million to provide financing for a PV solar power system. The credit facility replaced a bridge loan that we had made to this entity. The credit facility bears interest at 8.0% per annum payable quarterly with the full amount due on December 31, 2026. As of September 30, 2015 and December 31, 2014, the balance on the credit facility was €7.0 million ($7.9 million and $8.5 million, respectively, at the balance sheet dates). On February 7, 2014, we entered into a convertible loan agreement with a strategic entity for an available amount of up to $5.0 million. The loan bears interest at 8.0% per annum. As of September 30, 2015 and December 31, 2014, the balance outstanding on the convertible loan was $4.3 million and $3.5 million, respectively.

Schedule of Goodwill

Goodwill, summarized by relevant reporting unit, consisted of the following as of September 30, 2015 and December 31, 2014 (in thousands):



	December 31, 2014			Acquisitions		September 30, 2015
CdTe components	$	403,420		$	—	$	403,420
Crystalline silicon components	6,097			—		6,097
Systems	68,833			—		68,833
Accumulated impairment losses	(393,365		)	—		(393,365		)
Total	$	84,985		$	—	$	84,985

Schedule of Other Intangibles, Net

The following tables summarize our intangible assets at September 30, 2015 and December 31, 2014 (in thousands):



	September 30, 2015
	Gross Amount		Accumulated Amortization			Net Amount
Patents	$	5,523	$	(1,610	)	$	3,913
Developed technology	114,614		(6,057		)	108,557
Total	$	120,137	$	(7,667	)	$	112,470



	December 31, 2014
	Gross Amount		Accumulated Amortization			Net Amount
Patents	5,347		$	(1,208	)	$	4,139
Developed technology	2,757		(460		)	2,297
In-process research and development	112,800		—			112,800
Total	$	120,904	$	(1,668	)	$	119,236

Schedule of Accrued Expenses

Accrued expenses consisted of the following at September 30, 2015 and December 31, 2014 (in thousands):



	September 30, 2015		December 31, 2014
Accrued compensation and benefits	$	57,641	$	43,072
Accrued property, plant and equipment	12,077		30,723
Accrued inventory and balance of systems parts	58,471		36,233
Accrued project assets and deferred project costs	163,164		113,012
Product warranty liability (1)	48,311		69,656
Accrued expenses in excess of normal product warranty liability and related expenses (1)	6,383		7,800
Other	66,120		87,660
Accrued expenses	$	412,167	$	388,156


(1)	See Note 12. “Commitments and Contingencies” to our condensed consolidated financial statements for further discussion of “Product warranty liability” and “Accrued expenses in excess of normal product warranty liability and related expenses.”

Schedule of Other Current Liabilities

Other current liabilities

Other current liabilities consisted of the following at September 30, 2015 and December 31, 2014 (in thousands):



	September 30, 2015		December 31, 2014
Deferred revenue	$	9,199	$	21,879
Derivative instruments	10,299		7,657
Contingent consideration (1)	4,132		36,817
Financing liability (2)	5,289		—
Other	14,116		22,349
Other current liabilities	$	43,035	$	88,702


(1)	See Note 12. “Commitments and Contingencies” to our condensed consolidated financial statements for further discussion.


(2)	See Note 9. “Investments in Unconsolidated Affiliates and Joint Ventures” to our condensed consolidated financial statements for further discussion of the financing liabilities associated with our leaseback of the Maryland Solar project.

Schedule of Other Liabilities

Other liabilities

Other liabilities consisted of the following at September 30, 2015 and December 31, 2014 (in thousands):



	September 30, 2015		December 31, 2014
Product warranty liability (1)	$	184,759	$	153,401
Other taxes payable	54,523		82,555
Derivative instruments	15,364		9,041
Contingent consideration (1)	7,237		17,077
Liability in excess of normal product warranty liability and related expenses (1)	20,111		23,139
Financing liability (2)	37,207		—
Other	45,308		35,333
Other liabilities	$	364,509	$	320,546


(1)	See Note 12. “Commitments and Contingencies” to our condensed consolidated financial statements for further discussion on “Product warranty liability,” “Contingent consideration,” and “Liability in excess of normal product warranty liability and related expenses.”


(2)	See Note 9. “Investments in Unconsolidated Affiliates and Joint Ventures” to our condensed consolidated financial statements for further discussion of the financing liabilities associated with our leaseback of the Maryland Solar project.