Fair Value (Tables)

3 Months Ended

Mar. 31, 2022

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 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, 2022	Level 1		Level 2		Level 3		Total
Assets
Cash equivalents:
Money market funds	$	247,420	$	—	$	—	$	247,420
	$	247,420	$	—	$	—	$	247,420
Liabilities
Derivatives:
Option to acquire a variable number of shares of Class A Common Stock (Note 18)	$	—	$	16,198	$	—	$	16,198
Embedded EPP derivatives	—		—		5,929		5,929
	$	—	$	16,198	$	5,929	$	22,127

	Fair Value Measured at Reporting Date Using
December 31, 2021	Level 1		Level 2		Level 3		Total
Assets
Cash equivalents:
Money market funds	$	297,034	$	—	$	—	$	297,034
	$	297,034	$	—	$	—	$	297,034
Liabilities
Derivatives:
Option to acquire a variable number of shares of Class A Common Stock	$	—	$	13,200	$	—	$	13,200
Embedded EPP derivatives	—		—		6,461		6,461
	$	—	$	13,200	$	6,461	$	19,661

Change in Level 3 Financial Liabilities

For the three months ended March 31, 2022 and 2021, we recorded the fair value of the embedded EPP derivatives and recognized an unrealized gain of $0.5 million and an unrealized loss of $0.5 million, respectively, in (loss) gain on revaluation of embedded derivatives on our condensed consolidated statements of operations (in thousands in the table below).

	Embedded EPP Derivative Liability
Liabilities at December 31, 2021	$	6,461
Changes in fair value	(532)
Liabilities at March 31, 2022	$	5,929

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

The following table presents the estimated fair values and carrying values of customer receivables and debt instruments (in thousands):

	March 31, 2022				December 31, 2021
	Net Carrying Value		Fair Value		Net Carrying Value		Fair Value
Customer receivables
Customer financing receivables	$	43,880	$	36,273	$	45,269	$	38,334
Debt instruments
Recourse:
10.25% Senior Secured Notes due March 2027	69,056		70,056		68,968		72,573
2.5% Green Convertible Senior Notes due August 2025	223,355		384,330		222,863		356,822
Non-recourse:
7.5% Term Loan due September 2028	28,298		33,377		29,006		35,669
6.07% Senior Secured Notes due March 2030	72,193		78,311		73,262		83,251
3.04% Senior Secured Notes due June 2031	129,910		129,101		132,631		137,983