Fair Value (Tables)

9 Months Ended

Sep. 30, 2022

Fair Value Disclosures [Abstract]

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis

The tables below set forth, by level, our financial assets that are accounted for at fair value for the respective periods. The table does not include assets and liabilities that are measured at historical cost or any basis other than fair value (in thousands):

	Fair Value Measured at Reporting Date Using
September 30, 2022	Level 1		Level 2		Level 3		Total
Assets
Cash equivalents:
Money market funds	$	453,396	$	—	$	—	$	453,396
	$	453,396	$	—	$	—	$	453,396
Liabilities
Derivatives:
Embedded EPP derivatives	—		—		5,838		5,838
	$	—	$	—	$	5,838	$	5,838

	Fair Value Measured at Reporting Date Using
December 31, 2021	Level 1		Level 2		Level 3		Total
Assets
Cash equivalents:
Money market funds	$	297,034	$	—	$	—	$	297,034
	$	297,034	$	—	$	—	$	297,034
Liabilities
Derivatives:
Option to acquire a variable number of shares of Class A Common Stock	$	—	$	13,200	$	—	$	13,200
Embedded EPP derivatives	—		—		6,461		6,461
	$	—	$	13,200	$	6,461	$	19,661

Schedule of Change in Level 3 Financial Liabilities

The changes in the Level 3 financial liabilities during the nine months ended September 30, 2022, were as follows (in thousands):

	Embedded EPP Derivative Liability
Liabilities at December 31, 2021	$	6,461
Changes in fair value	(623)
Liabilities at September 30, 2022	$	5,838

Schedule of Fair Values and Carrying Values of Customer Receivables and Debt Instruments

The following table presents the estimated fair values and carrying values of customer receivables and debt instruments (in thousands):

	September 30, 2022				December 31, 2021
	Net Carrying Value		Fair Value		Net Carrying Value		Fair Value
Customer receivables
Customer financing receivable	$	—	$	—	$	45,269	$	38,334
Debt instruments
Recourse:
10.25% Senior Secured Notes due March 2027	63,194		59,939		68,968		72,573
2.5% Green Convertible Senior Notes due August 2025	224,340		319,822		222,863		356,822
Non-recourse:
7.5% Term Loan due September 2028 (Note 7)	—		—		29,006		35,669
6.07% Senior Secured Notes due March 2030	68,899		70,085		73,262		83,251
3.04% Senior Secured Notes due June 2031	125,999		115,294		132,631		137,983