Balance Sheet Components (Tables)

9 Months Ended

Sep. 30, 2019

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Inventory, net

The components of inventory consisted of the following (in thousands):

	September 30,		December 31,
	2019		2018
Raw materials	$	56,787	$	53,273
Work-in-progress	25,429		22,303
Finished goods	58,156		56,900
	$	140,372	$	132,476

Prepaid Expense and Other Current Assets

Prepaid expenses and other current assets consisted of the following (in thousands):

	September 30,		December 31,
	2019		2018
Government incentives receivable	$	928	$	1,001
Prepaid expenses and other current assets	24,711		32,741
	$	25,639	$	33,742

Property, Plant and Equipment, Net

Property, plant and equipment, net consisted of the following (in thousands):

	September 30,			December 31,
	2019			2018
Energy Servers	$	397,482		$	511,485
Computers, software and hardware	20,592			16,536
Machinery and equipment	103,064			99,209
Furniture and fixtures	9,017			4,337
Leasehold improvements	36,244			18,629
Building	40,512			40,512
Construction in progress	8,651			29,084
	615,562			719,792
Less: Accumulated depreciation	(231,185		)	(238,378		)
	$	384,377		$	481,414

Customer Financing Leases, Receivable

The components of investment in sales-type financing leases consisted of the following (in thousands):

	September 30,			December 31,
	2019			2018
Total minimum lease payments to be received	$	94,151		$	100,816
Less: Amounts representing estimated executing costs	(23,203		)	(25,180		)
Net present value of minimum lease payments to be received	70,948			75,636
Estimated residual value of leased assets	1,051			1,051
Less: Unearned income	(3,465		)	(4,011		)
Net investment in sales-type financing leases	68,534			72,676
Less: Current portion	(5,919		)	(5,594		)
Non-current portion of investment in sales-type financing leases	$	62,615		$	67,082

Schedule of Customer Payments from Sales-Type Financing Leases

The future scheduled customer payments from sales-type financing leases were as follows as of September 30, 2019 (in thousands):

	Remainder of 2019		2020		2021		2022		2023		Thereafter
Future minimum lease payments, less interest	$	1,452	$	6,022	$	6,415	$	6,853	$	7,310	$	39,431

Other Long-Term Assets

Other long-term assets consisted of the following (in thousands):

	September 30,		December 31,
	2019		2018
Prepaid and other long-term assets	$	23,574	$	27,086
Equity investment in PPA II assets	27,235		—
Equity-method investments	5,834		6,046
Long-term deposits	1,757		1,660
	$	58,400	$	34,792

Accrued Warranty

Accrued warranty liabilities consisted of the following (in thousands):

	September 30,		December 31,
	2019		2018
Product warranty	$	11,391	$	10,935
Operations and maintenance services agreements	3,904		8,301
	$	15,295	$	19,236

Changes during the current period in the standard product warranty liability were as follows (in thousands):

Balances at December 31, 2018	$	10,935
Accrued warranty, net	7,608
Warranty expenditures during period	(7,152		)
Balances at September 30, 2019	$	11,391

Accrued Other Current Liabilities

Accrued other current liabilities consisted of the following (in thousands):

	September 30,		December 31,
	2019		2018
Liabilities recorded for mandatorily redeemable noncontrolling interest1	$	12,449	$	—
Compensation and benefits	19,834		16,742
Current portion of derivative liabilities	5,366		3,232
Managed services liabilities	3,235		5,091
Accrued installation	7,457		6,859
Sales tax liabilities	5,709		1,700
Interest payable	3,520		4,675
Other	24,580		31,236
	$	82,150	$	69,535

¹ During June 2019, we entered into a PPA II upgrade transaction which included a commitment to mandatorily redeem the noncontrolling interest in DSGH by March 31, 2020 of certain installed PPA II Energy Servers, resulting in the reclassification of mandatorily redeemable noncontrolling interest into accrued other current liabilities on the condensed consolidated balance sheet commencing June 30, 2019. See Note 12 - Power Purchase Agreement Programs - PPA II Upgrade of Energy Servers.

Other Long-Term Liabilities

Accrued other long-term liabilities consisted of the following (in thousands):

	September 30,		December 31,
	2019		2018
Delaware grant	$	10,469	$	10,469
Managed services liabilities	28,315		29,741
Other	17,333		15,727
	$	56,117	$	55,937