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Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Jun. 30, 2023
Dec. 31, 2022
Current assets:    
Cash and cash equivalents [1] $ 767,055 $ 348,498
Restricted cash [1] 45,811 51,515
Accounts receivable less allowance for doubtful accounts of $119 as of June 30, 2023 and December 31, 2022 [1] 351,021 250,995
Contract assets 35,182 46,727
Inventories [1] 468,266 268,394
Deferred cost of revenue 53,982 46,191
Loan commitment asset 5,259 0
Prepaid expenses and other current assets [1] 49,823 43,643
Total current assets 1,776,399 1,055,963
Property, plant and equipment, net [1] 606,007 600,414
Operating lease right-of-use assets [1] 132,452 126,955
Restricted cash [1] 109,678 118,353
Deferred cost of revenue 4,407 4,737
Loan commitment asset 47,533 0
Other long-term assets [1] 43,426 40,205
Total assets 2,719,902 1,946,627
Current liabilities:    
Accounts payable [1] 194,503 161,770
Accrued warranty 14,906 17,332
Accrued expenses and other current liabilities [1] 113,848 144,183
Deferred revenue and customer deposits [1] 137,704 159,048
Operating lease liabilities [1] 17,168 16,227
Financing obligations 29,097 17,363
Recourse debt 0 12,716
Non-recourse debt [1] 10,814 13,307
Series B redeemable convertible preferred stock 310,508 0
Total current liabilities 828,548 541,946
Deferred revenue and customer deposits [1] 26,226 56,392
Operating lease liabilities [1] 137,667 132,363
Financing obligations 424,811 442,063
Recourse debt [1] 839,223 273,076
Non-recourse debt [1] 107,793 112,480
Other long-term liabilities 9,399 9,491
Total liabilities 2,373,667 1,567,811
Commitments and contingencies
Stockholders’ equity:    
Common stock: $0.0001 par value; Class A shares - 600,000,000 shares authorized and 193,506,252 shares and 189,864,722 shares issued and outstanding and Class B shares - 600,000,000 shares authorized and 15,675,130 shares and 15,799,968 shares issued and outstanding at June 30, 2023 and December 31, 2022, respectively 20 20
Additional paid-in capital 4,011,900 3,906,491
Accumulated other comprehensive loss (2,053) (1,251)
Accumulated deficit (3,702,111) (3,564,483)
Total equity attributable to Class A and Class B common stockholders 307,756 340,777
Noncontrolling interest 38,479 38,039
Total stockholders’ equity 346,235 378,816
Total liabilities and stockholders’ equity $ 2,719,902 $ 1,946,627
[1] 1We have a variable interest entity related to PPA V (see Note 10 - Portfolio Financings) and a joint venture in the Republic of Korea (see Note 15 - SK ecoplant Strategic Investment), which represent a portion of the consolidated balances recorded within these financial statement line items.