Fair Value (Tables)

6 Months Ended

Jun. 30, 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
June 30, 2022	Level 1		Level 2		Level 3		Total
Assets
Cash equivalents:
Money market funds	$	172,479	$	—	$	—	$	172,479
	$	172,479	$	—	$	—	$	172,479
Liabilities
Derivatives:
Option to acquire a variable number of shares of Class A Common Stock	$	—	$	12,089	$	—	$	12,089
Embedded EPP derivatives	—		—		5,892		5,892
	$	—	$	12,089	$	5,892	$	17,981

	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

Schedule of Change in Level 3 Financial Liabilities

The changes in the Level 3 financial liabilities during the six months ended June 30, 2022 were as follows (in thousands):

	Embedded EPP Derivative Liability
Liabilities at December 31, 2021	$	6,461
Changes in fair value	(569)
Liabilities at June 30, 2022	$	5,892

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):

	June 30, 2022				December 31, 2021
	Net Carrying Value		Fair Value		Net Carrying Value		Fair Value
Customer receivables
Customer financing receivable	$	—	$	—	$	45,269	$	38,334
Debt instruments
Recourse:
10.25% Senior Secured Notes due March 2027	67,124		64,775		68,968		72,573
2.5% Green Convertible Senior Notes due August 2025	223,848		289,271		222,863		356,822
Non-recourse:
7.5% Term Loan due September 2028 (Note 7)	—		—		29,006		35,669
6.07% Senior Secured Notes due March 2030	71,060		73,691		73,262		83,251
3.04% Senior Secured Notes due June 2031	127,229		120,481		132,631		137,983