XML 178 R7.htm IDEA: XBRL DOCUMENT v3.19.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2016
Cash flows from operating activities:      
Net income (loss) $ (259,489) $ (281,265) $ (336,316)
Adjustments to reconcile net loss to net cash used in operating activities:      
Depreciation and Amortization 43,459 46,105 43,100
Write-off of property, plant and equipment, net 939 48 140
Impairment of assets, net 0 0 2,092
PPA I decommissioning, net 0 0 617
Revaluation of derivative contracts 28,471 14,754 1,343
Stock-based compensation 180,284 30,479 28,157
Loss (gain) on long-term REC purchase contract 200 (70) 124
Revaluation of stock warrants (9,108) (2,975) 8,373
Amortization of interest expense from preferred stock warrants 1,066 1,060 1,083
Amortization of debt issuance cost 3,868 3,263 2,802
Amortization of debt discount from embedded derivatives 20,503 42,989 28,925
Changes in operating assets and liabilities:      
Accounts receivable (54,570) 4,849 (701)
Inventories (42,216) (7,105) (209)
Deferred cost of revenue 88,324 (70,979) (84,660)
Customer financing receivable and other 4,878 5,459 (211,659)
Prepaid expenses and other current assets (7,064) (2,175) (8,433)
Other long-term assets 1,897 4,625 (1,020)
Accounts payable 18,307 7,076 4,807
Accrued warranty 2,426 (7,045) (2,986)
Accrued other current liabilities (6,800) 8,599 11,258
Deferred revenue and customer deposits (91,996) 91,893 183,564
Other long-term liabilities 18,204 43,239 46,773
Net cash used in operating activities (58,417) (67,176) (282,826)
Cash flows from investing activities:      
Purchase of property, plant and equipment (14,659) (5,140) (8,979)
Payments for acquisition of intangible assets (3,256) 0 0
Purchase of marketable securities (103,914) (29,043) 0
Proceeds from maturity of marketable securities 27,000 2,250 0
Net cash used in investing activities (94,829) (31,933) (8,979)
Cash flows from financing activities:      
Borrowings from issuance of debt 0 100,000 123,489
Borrowings from issuance of debt to related parties 0 0 25,000
Repayment of debt (18,770) (20,507) (32,192)
Repayment of debt to related parties (1,390) (912) (966)
Debt issuance costs 0 (6,108) (218)
Proceeds from noncontrolling and redeemable noncontrolling interests 0 13,652 209,860
Distributions to noncontrolling and redeemable noncontrolling interests (15,250) (23,659) (45,828)
Proceeds from issuance of common stock 1,521 432 1,238
Proceeds from issuance of convertible preferred stock 0 0 3,000
Proceeds from public offerings, net of underwriting discounts and commissions 292,529 0 0
Payments of initial public offering issuance costs (5,521) (1,092) 0
Net cash provided by financing activities 253,119 61,806 283,383
Net increase (decrease) in cash, cash equivalents, and restricted cash 99,873 (37,303) (8,422)
Beginning of period 180,612 217,915 226,337
End of period 280,485 180,612 217,915
Supplemental disclosure of cash flow information:      
Cash paid during the period for interest 39,465 21,948 20,549
Cash paid during the period for taxes 1,748 616 635
Non-cash investing and financing activities:      
Transfer of inventory to Energy Servers 0 0 217,205
Liabilities recorded for property, plant and equipment 12,236 975 992
Liabilities recorded for intangible assets 3,180 2,138 0
Exercise of warrants 0 0 3,336
Issuance of common stock warrant 0 9,410 0
Reclassification of redeemable convertible preferred stock warrant liability to additional paid-in capital 882 0 0
Conversion of redeemable convertible preferred stock into additional paid-in capital 1,465,841 0 0
Conversion of 8% convertible promissory notes into additional paid-in capital 221,579 0 0
Reclassification of derivative liability into additional paid-in capital 177,208 0 0
Reclassification of prior year prepaid initial public offering costs to additional paid-in capital 4,732 0 0
Issuance of common stock 0 1,981 1,816
Issuance of restricted stock 0 1,254 0
Accrued distributions to Equity Investors 576 576 7,287
Accrued interest and issuance for notes 19,041 29,705 23,987
Accrued interest and issuance for notes to related parties 2,733 4,368 3,856
Issuance of 6% convertible promissory notes $ 0 $ 0 $ 25,000