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Note 9. Consolidated Balance Sheet Details (Tables)

12 Months Ended

Dec. 31, 2018

Balance Sheet Related Disclosures [Abstract]

Accounts receivable trade, net consisted of the following at December 31, 2018 and 2017 (in thousands):



	2018			2017
Accounts receivable trade, gross	$	129,644		$	213,776
Allowance for doubtful accounts	(1,362		)	(1,979		)
Accounts receivable trade, net	$	128,282		$	211,797

At December 31, 2018 and 2017, $8.5 million and $16.8 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 December 31, 2018 and 2017 (in thousands):



	2018		2017
Accounts receivable, unbilled	$	441,666	$	172,594
Retainage	16,500		2,014
Accounts receivable, unbilled and retainage	$	458,166	$	174,608

Schedule of Inventory, Current and Noncurrent

Inventories consisted of the following at December 31, 2018 and 2017 (in thousands):



	2018		2017
Raw materials	$	224,329	$	148,968
Work in process	41,294		14,085
Finished goods	252,372		122,594
Inventories	$	517,995	$	285,647
Inventories – current	$	387,912	$	172,370
Inventories – noncurrent	$	130,083	$	113,277

Schedule of Prepaid Expenses and Other Current Assets

Prepaid expenses and other current assets consisted of the following at December 31, 2018 and 2017 (in thousands):



	2018		2017
Prepaid expenses	$	90,981	$	41,447
Prepaid income taxes	59,319		31,944
Indirect tax receivables	26,327		26,553
Restricted cash	19,671		11,120
Derivative instruments	2,364		4,303
Other current assets	44,399		42,535
Prepaid expenses and other current assets	$	243,061	$	157,902

Schedule of Property, Plant and Equipment, Net

Property, plant and equipment, net consisted of the following at December 31, 2018 and 2017 (in thousands):



	2018			2017
Land	$	14,382		$	8,181
Buildings and improvements	567,605			424,266
Machinery and equipment	1,826,434			1,059,103
Office equipment and furniture	178,011			157,512
Leasehold improvements	49,055			48,951
Construction in progress	405,581			641,263
Property, plant and equipment, gross	3,041,068			2,339,276
Accumulated depreciation	(1,284,857		)	(1,184,739		)
Property, plant and equipment, net	$	1,756,211		$	1,154,537

Schedule of PV Solar Power Systems, Net

PV solar power systems, net consisted of the following at December 31, 2018 and 2017 (in thousands):



	2018			2017
PV solar power systems, gross	$	343,061		$	451,045
Accumulated depreciation	(34,421		)	(33,937		)
PV solar power systems, net	$	308,640		$	417,108

Schedule of Capitalized Interest

The cost of constructing project assets includes interest costs incurred during the construction period. The components of interest expense and capitalized interest were as follows during the years ended December 31, 2018, 2017, and 2016 (in thousands):



	2018			2017			2016
Interest cost incurred	$	(31,752	)	$	(27,457	)	$	(26,157	)
Interest cost capitalized – property, plant and equipment	—			—			1,878
Interest cost capitalized – project assets	5,831			1,692			3,741
Interest expense, net	$	(25,921	)	$	(25,765	)	$	(20,538	)

Schedule of Project Assets

Project assets consisted of the following at December 31, 2018 and 2017 (in thousands):



	2018		2017
Project assets – development costs, including project acquisition and land costs	$	298,070	$	250,590
Project assets – construction costs	200,359		252,127
Project assets	498,429		502,717
Project assets – current	$	37,930	$	77,931
Project assets – noncurrent	$	460,499	$	424,786

Schedule of Other Assets, Noncurrent

Other assets consisted of the following at December 31, 2018 and 2017 (in thousands):



	2018		2017
Deferred rent	$	27,249	$	26,760
Indirect tax receivables	22,487		15,253
Notes receivable (1)	8,017		10,495
Income taxes receivable	4,444		4,454
Other	33,495		28,570
Other assets	$	95,692	$	85,532

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(1)

In April 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 bears interest at 8.0% per annum, payable quarterly, with the full amount due in December 2026. As of December 31, 2018 and 2017, the balance outstanding on the credit facility was €7.0 million ($8.0 million and $8.4 million, respectively).

Schedule of Accrued Expenses

Accrued expenses consisted of the following at December 31, 2018 and 2017 (in thousands):



	2018		2017
Accrued project costs	$	147,162	$	55,834
Accrued property, plant and equipment	89,905		133,433
Accrued inventory	53,075		24,830
Accrued compensation and benefits	41,937		73,985
Product warranty liability (1)	27,657		28,767
Other	81,844		49,978
Accrued expenses	$	441,580	$	366,827

——————————


(1)	See Note 15. “Commitments and Contingencies” to our consolidated financial statements for discussion of our “Product warranty liability.”

Schedule of Other Current Liabilities

Other current liabilities consisted of the following at December 31, 2018 and 2017 (in thousands):



	2018		2017
Derivative instruments	$	7,294	$	27,297
Contingent consideration (1)	665		6,162
Financing liability (2)	—		5,161
Indemnification liabilities (1)	—		2,876
Other	6,421		7,261
Other current liabilities	$	14,380	$	48,757

——————————


(1)	See Note 15. “Commitments and Contingencies” to our consolidated financial statements for discussion of our “Contingent consideration” and “Indemnification liabilities” arrangements.


(2)	See Note 12. “Equity Method Investments” to our consolidated financial statements for discussion of the financing liabilities associated with our leaseback of the Maryland Solar project.

Schedule of Other Liabilities

Other liabilities consisted of the following at December 31, 2018 and 2017 (in thousands):



	2018		2017
Product warranty liability (1)	$	193,035	$	195,507
Other taxes payable	83,058		89,724
Transition tax liability (2)	77,016		93,233
Deferred revenue	48,014		63,257
Derivative instruments	9,205		5,932
Contingent consideration (1)	2,250		3,153
Commercial letter of credit liability (1)	—		43,396
Financing liability (3)	—		29,822
Other	55,261		44,430
Other liabilities	$	467,839	$	568,454

——————————


(1)	See Note 15. “Commitments and Contingencies” to our consolidated financial statements for discussion of our “Product warranty liability,” “Contingent consideration,” and “Commercial letter of credit liability” arrangements.


(2)	See Note 19. “Income Taxes” to our consolidated financial statements for discussion of the one-time transition tax on accumulated earnings of foreign subsidiaries as a result of the Tax Act.


(3)	See Note 12. “Equity Method Investments” to our consolidated financial statements for discussion of the financing liabilities associated with our leaseback of the Maryland Solar project.