Fair Value (Tables)

3 Months Ended

Mar. 31, 2024

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 and liabilities 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
March 31, 2024	Level 1		Level 2		Level 3		Total
Assets
Cash equivalents:
Money market funds	$	470,588	$	—	$	—	$	470,588
	$	470,588	$	—	$	—	$	470,588
Liabilities
Derivatives:
Embedded EPP derivatives	$	—	$	—	$	4,218	$	4,218
	$	—	$	—	$	4,218	$	4,218

	Fair Value Measured at Reporting Date Using
December 31, 2023	Level 1		Level 2		Level 3		Total
Assets
Cash equivalents:
Money market funds	$	601,076	$	—	$	—	$	601,076
	$	601,076	$	—	$	—	$	601,076
Liabilities
Derivatives:
Embedded EPP derivatives	$	—	$	—	$	4,376	$	4,376
	$	—	$	—	$	4,376	$	4,376

Schedule of Change in Level 3 Financial Liabilities

The changes in the Level 3 financial liabilities during the three months ended March 31, 2024 were as follows (in thousands):

	Embedded EPP Derivative Liability
Liabilities at December 31, 2023	$	4,376
Changes in fair value	(158)
Liabilities at March 31, 2024	$	4,218

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

	March 31, 2024				December 31, 2023
	Net Carrying Value		Fair Value		Net Carrying Value		Fair Value
Debt instruments
Recourse:
3% Green Convertible Senior Notes due June 2028	$	616,184	$	584,999	$	615,205	$	673,613
2.5% Green Convertible Senior Notes due August 2025	227,293		245,985		226,801		260,820
Non-recourse:
4.6% Term Loan due October 2026	$	2,972	$	2,807	$	3,085	$	2,866
4.6% Term Loan due April 2026	1,486		1,448		1,542		1,479