Balance Sheet Components

3 Months Ended

Apr. 03, 2016

Balance Sheet Related Disclosures [Abstract]

Balance Sheet Components

BALANCE SHEET COMPONENTS

	As of
(In thousands)	April 3, 2016			January 3, 2016
Accounts receivable, net:
Accounts receivable, gross1,2	$	196,720		$	207,860
Less: allowance for doubtful accounts	(17,493		)	(15,505		)
Less: allowance for sales returns	(1,784		)	(1,907		)
	$	177,443		$	190,448

¹  Includes short-term financing receivables associated with solar power systems leased of $14.1 million and $12.5 million as of April 3, 2016 and January 3, 2016, respectively (see Note 5).

²  Includes short-term retainage of $15.7 million and $11.8 million as of April 3, 2016 and January 3, 2016, respectively. Retainage refers to the earned, but unbilled, portion of a construction and development project for which payment is deferred by the customer until certain contractual milestones are met.

	As of
(In thousands)	April 3, 2016		January 3, 2016
Inventories:
Raw materials	$	104,177	$	124,297
Work-in-process	108,050		131,258
Finished goods	174,560		126,835
	$	386,787	$	382,390

	As of
(In thousands)	April 3, 2016		January 3, 2016
Prepaid expenses and other current assets:
Deferred project costs	$	117,027	$	67,479
VAT receivables, current portion	12,487		14,697
Deferred costs for solar power systems to be leased	46,032		40,988
Derivative financial instruments	5,819		8,734
Prepaid inventory	50,615		50,615
Other receivables	81,821		78,824
Other prepaid expenses	101,139		98,180
Other current assets	188		—
	$	415,128	$	359,517

	As of
(In thousands)	April 3, 2016		January 3, 2016
Project assets - plants and land:
Project assets — plants	$	664,365	$	479,108
Project assets — land	4,403		5,416
	$	668,768	$	484,524
Project assets - plants and land, current portion	$	662,868	$	479,452
Project assets - plants and land, net of current portion	$	5,900	$	5,072

	As of
(In thousands)	April 3, 2016			January 3, 2016
Property, plant and equipment, net:
Manufacturing equipment1	$	630,085		$	556,963
Land and buildings	32,134			32,090
Leasehold improvements	388,545			244,098
Solar power systems2	141,986			141,075
Computer equipment	109,090			103,443
Furniture and fixtures	11,216			10,640
Construction-in-process	116,828			247,511
	1,429,884			1,335,820
Less: accumulated depreciation	(626,940		)	(604,590		)
	$	802,944		$	731,230

¹  The Company's mortgage loan agreement with International Finance Corporation ("IFC") is collateralized by certain manufacturing equipment with a net book value of $77.2 million and $85.1 million as of April 3, 2016 and January 3, 2016, respectively.

²  Includes $110.4 million of solar power systems associated with sale-leaseback transactions under the financing method as of both April 3, 2016 and January 3, 2016, which are depreciated using the straight-line method to their estimated residual values over the lease terms of up to 20 years (see Note 5).

	As of
(In thousands)	April 3, 2016		January 3, 2016
Property, plant and equipment, net by geography1:
Philippines	$	525,306	$	460,420
United States	204,402		201,419
Mexico	47,932		44,164
Europe	23,178		22,962
Other	2,126		2,265
	$	802,944	$	731,230

¹  Property, plant and equipment, net by geography is based on the physical location of the assets.

	As of
(In thousands)	April 3, 2016		January 3, 2016
Other long-term assets:
Equity method investments	$	177,534	$	186,405
Cost method investments	45,602		36,369
Other	76,131		75,201
	$	299,267	$	297,975

	As of
(In thousands)	April 3, 2016		January 3, 2016
Accrued liabilities:
Employee compensation and employee benefits	41,019		59,476
Deferred revenue	19,393		19,887
Short-term residential lease financing	13,340		7,395
Interest payable	11,828		8,165
Short-term warranty reserves	8,971		16,639
Restructuring reserve	1,614		1,823
VAT payables	2,899		4,225
Derivative financial instruments	10,811		2,316
Inventory payable	50,615		50,615
Liability due to 8point3 Energy Partners	—		9,952
Proceeds from 8point3 Energy Partners attributable to pre-COD projects	4,887		—
Other	118,125		133,004
	$	283,502	$	313,497

	As of
(In thousands)	April 3, 2016		January 3, 2016
Other long-term liabilities:
Deferred revenue	$	178,903	$	179,779
Long-term warranty reserves	157,469		147,488
Long-term sale-leaseback financing	126,230		125,286
Long-term residential lease financing with 8point3 Energy Partners	29,400		29,389
Unrecognized tax benefits	42,839		43,297
Long-term pension liability	13,142		12,014
Derivative financial instruments	948		1,033
Other	13,792		26,271
	$	562,723	$	564,557

	As of
(In thousands)	April 3, 2016			January 3, 2016
Accumulated other comprehensive loss:
Cumulative translation adjustment	$	(9,745	)	$	(11,164	)
Net unrealized gain (loss) on derivatives	(803		)	5,942
Net loss on long-term pension liability adjustment	(2,055		)	(2,055		)
Deferred taxes	4			(746		)
	$	(12,599	)	$	(8,023	)