Financial Instruments (Tables)

3 Months Ended

Mar. 31, 2023

Cash and Cash Equivalents [Abstract]

The carrying values of cash, cash equivalents and restricted cash approximate fair values and were as follows (in thousands):


	March 31,		December 31,
	2023		2022
As Held:
Cash	$	319,744	$	226,463
Money market funds	163,701		291,903
	$	483,445	$	518,366
As Reported:
Cash and cash equivalents	$	320,431	$	348,498
Restricted cash	163,014		169,868
	$	483,445	$	518,366

Schedule of Restrictions on Cash and Cash Equivalents

The carrying values of cash, cash equivalents and restricted cash approximate fair values and were as follows (in thousands):


	March 31,		December 31,
	2023		2022
As Held:
Cash	$	319,744	$	226,463
Money market funds	163,701		291,903
	$	483,445	$	518,366
As Reported:
Cash and cash equivalents	$	320,431	$	348,498
Restricted cash	163,014		169,868
	$	483,445	$	518,366

Restricted cash consisted of the following (in thousands):


	March 31,		December 31,
	2023		2022
Current:
Restricted cash	$	46,891	$	50,965
Restricted cash related to PPA Entity1	350		550
	$	47,241	$	51,515
Non-current:
Restricted cash	$	107,773	$	110,353
Restricted cash related to PPA Entity1	8,000		8,000
	115,773		118,353
	$	163,014	$	169,868

1 We have VIE related to PPA V that represents a portion of the condensed consolidated balances recorded within the “restricted cash” and other financial statement line items in the condensed consolidated balance sheets (see Note 10 - Portfolio Financings). In addition, the restricted cash held in the PPA II and PPA IIIb entities as of March 31, 2023, included $33.3 million and $0.7 million of current restricted cash, respectively, and $21.4 million and $6.7 million of non-current restricted cash, respectively. The restricted cash held in the PPA II and PPA IIIb entities as of December 31, 2022, included $40.6 million and $1.2 million of current restricted cash, respectively, and $28.5 million and $6.7 million of non-current restricted cash, respectively. These entities are not considered VIEs.