XML 27 R8.htm IDEA: XBRL DOCUMENT v3.22.0.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Cash flows from operating activities:      
Net income (loss) $ (193,369) $ (179,087) $ (323,466)
Adjustments to reconcile net loss to net cash used in operating activities:      
Depreciation and amortization 53,454 52,279 78,584
Non-cash lease expense 9,708 5,328 0
Write-off of property, plant and equipment, net 0 38 3,117
Write-off of customer financing receivable 0 0 11,302
Impairment of equity method investment 0 4,236 0
Write-off of PPA II and PPA IIIb decommissioned assets 0 0 70,543
Debt make-whole expense 0 0 5,934
Revaluation of derivative contracts 17,532 (497) 2,779
Stock-based compensation expense 73,274 73,893 196,291
Gain on long-term REC purchase contract 0 (72) (53)
Gain on remeasurement of investment (1,966) 0 0
Contingent consideration remeasurement (3,623) 0 0
Interest Expense on Interest Rate Swap Settlement (641) 0 0
Loss on extinguishment of debt 0 11,785 0
Amortization of debt issuance costs and premium, net 3,797 6,455 22,130
Changes in operating assets and liabilities:      
Accounts receivable 8,570 (61,685) 51,952
Contract assets (21,874) 0 0
Inventories (885) (33,004) 18,425
Deferred cost of revenue 17,567 19,910 (21,992)
Customer financing receivable 5,428 5,159 5,520
Prepaid expenses and other current assets 1,520 (3,124) 8,643
Other long-term assets (2,854) 2,904 3,618
Accounts payable 13,132 (620) (11,310)
Accrued warranty 1,481 (241) (6,603)
Accrued expenses and other current liabilities (2,144) 17,753 6,728
Operating lease right-of-use assets and operating lease liabilities (12,953) (2,855) 0
Financing cash flows from finance leases 1,142 0 0
Deferred revenue and customer deposits (22,677) (12,972) 37,146
Other long-term liabilities (4,300) (4,523) 4,376
Net cash (used in) provided by operating activities (60,681) (98,796) 163,770
Cash flows from investing activities:      
Purchase of property, plant and equipment (49,810) (37,913) (51,053)
Net cash acquired from step acquisition 3,114 0 0
Proceeds from maturity of marketable securities 0 0 104,500
Net cash (used in) provided by investing activities (46,696) (37,913) 53,447
Cash flows from financing activities:      
Proceeds from issuance of debt 135,989 300,000 0
Proceeds from issuance of debt to related parties 0 30,000 0
Repayment of debt (123,374) (176,522) (119,277)
Repayment of debt - related parties 0 (2,105) (2,200)
Debt make-whole payment 0 0 (5,934)
Debt issuance costs (1,950) (13,247) 0
Proceeds from financing obligations 16,849 26,279 72,334
Repayment of financing obligations (13,642) (10,756) (8,954)
Contribution from noncontrolling interest 0 6,513 0
Payments to noncontrolling and redeemable noncontrolling interests 0 0 (56,459)
Distributions to noncontrolling interests and redeemable noncontrolling interests (5,838) (7,622) (12,537)
Proceeds from issuance of common stock 89,790 23,491 12,713
Proceeds from issuance of redeemable convertible preferred stock, net 208,551 0 0
Net cash provided by (used in) financing activities 306,375 176,031 (120,314)
Effect of exchange rate changes on cash, cash equivalent and restricted cash (594) 0 0
Net (decrease) increase in cash, cash equivalents and restricted cash 198,404 39,322 96,903
Beginning of period 416,710 377,388 280,485
End of period 615,114 416,710 377,388
Supplemental disclosure of cash flow information:      
Cash paid during the period for interest 68,739 71,651 69,851
Cash paid for amounts included in the measurement of lease liabilities:      
Operating cash flows from operating leases 17,416 2,855 0
Operating cash flows from financing leases 878 61 0
Cash paid during the period for income taxes 576 371 860
Non-cash investing and financing activities:      
Increase in recourse debt, non-current upon adoption of ASU 2020-06, net 121,491 0 0
Liabilities recorded for property, plant and equipment 6,095 7,175 1,745
Operating lease liabilities arising from obtaining right-of-use assets upon adoption of new lease guidance 0 39,775 0
Recognition of operating lease right-of-use asset during the year-to-date period 82,802 12,829 0
Recognition of financing lease right-of-use asset during the year-to-date period 2,210 385 0
Conversion of 6% and 8% convertible promissory notes into additional paid-in capital to related parties 0 0 6,933
Conversion of 10% convertible promissory notes to related party into Class A common stock 0 50,800 0
Accrued distributions to equity investors 0 0 373
Accrued interest for notes 0 1,298 1,812
Adjustment of embedded derivative related to debt extinguishment 0 24,071 0
Convertible Promissory Notes Interest Rate 10% Due December 2021 | Convertible promissory notes      
Non-cash investing and financing activities:      
Conversion of 10% convertible promissory notes into Class A common stock $ 0 $ 252,797 $ 0