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Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2022
Dec. 31, 2021
Current assets:    
Cash and cash equivalents [1] $ 348,498 $ 396,035
Restricted cash [1] 51,515 92,540
Accounts receivable less allowance for doubtful accounts of $119 as of December 31, 2022 and 2021 [1] 250,995 87,789
Contract assets 46,727 25,201
Inventories [1] 268,394 143,370
Deferred cost of revenue 46,191 25,040
Customer financing receivable [1] 0 5,784
Prepaid expense and other current assets [1] 43,643 30,661
Total current assets 1,055,963 806,420
Property, plant and equipment, net [1] 600,414 604,106
Operating lease right-of-use assets [1] 126,955 106,660
Customer financing receivable [1] 0 39,484
Restricted cash [1] 118,353 126,539
Deferred cost of revenue 4,737 1,289
Other long-term assets [1] 40,205 41,073
Total assets 1,946,627 1,725,571
Current liabilities:    
Accounts Payable, Current [1] 161,770 72,967
Accrued warranty 17,332 11,746
Accrued expenses and other current liabilities [1] 144,183 114,138
Deferred revenue and customer deposits [1] 159,048 89,975
Operating lease liabilities [1] 16,227 13,101
Financing obligations 17,363 14,721
Recourse debt 12,716 8,348
Non-recourse debt [1] 13,307 17,483
Total current liabilities 541,946 342,479
Deferred revenue And customer deposits [1] 56,392 90,310
Operating lease liabilities [1] 132,363 106,187
Financing obligations 442,063 461,900
Recourse debt 273,076 283,483
Non-recourse debt [1] 112,480 217,416
Other long-term liabilities 9,491 16,772
Total liabilities 1,567,811 1,518,547
Commitments and contingencies (Note 13)
Redeemable convertible preferred stock, Series A: 10,000,000 shares authorized; no shares and 10,000,000 shares issued and outstanding at December 31, 2022 and December 31, 2021, respectively. 0 208,551
Redeemable noncontrolling interest 0 300
Stockholders’ equity (deficit) :    
Common stock: $0.0001 par value; Class A shares - 600,000,000 shares authorized, and 189,864,722 shares and 160,627,544 shares issued and outstanding and Class B shares - 600,000,000 shares authorized and 15,799,968 shares and 15,832,863 shares issued and outstanding at December 31, 2022 and December 31, 2021, respectively. 20 18
Additional paid-in capital 3,906,491 3,219,081
Accumulated other comprehensive loss (1,251) (350)
Accumulated deficit (3,564,483) (3,263,075)
Total stockholders’ equity (deficit) attributable to Class A and Class B common stockholders 340,777 (44,326)
Noncontrolling interest 38,039 42,499
Total stockholders’ equity (deficit) 378,816 (1,827)
Total liabilities, redeemable convertible preferred stock, redeemable noncontrolling interest and stockholders’ equity (deficit) $ 1,946,627 $ 1,725,571
[1] We have variable interest entities related to PPAs (see Note 11 - Portfolio Financings) and joint venture in the Republic of Korea (see Note 17 - SK ecoplant Strategic Investment), which represent a portion of the consolidated balances recorded within these financial statement line items in the consolidated balance sheets.