XML 23 R5.htm IDEA: XBRL DOCUMENT v3.23.4
Consolidated Statements of Operations - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 12 Months Ended
Jan. 01, 2023
Oct. 02, 2022
Jul. 03, 2022
Apr. 03, 2022
Jan. 02, 2022
Oct. 03, 2021
Jul. 04, 2021
Apr. 04, 2021
Jan. 01, 2023
Jan. 02, 2022
Jan. 03, 2021
Income Statement [Abstract]                      
Total revenues $ 497,968 $ 476,393 $ 417,464 $ 350,118 $ 347,715 $ 282,460 $ 259,893 $ 238,290 $ 1,741,943 [1] $ 1,128,358 [1] $ 863,489 [1]
Total cost of revenues1                 1,338,942 876,306 715,019
Gross profit 113,764 116,665 90,727 81,845 66,403 67,926 66,095 51,628 403,001 252,052 148,470
Operating expenses:                      
Research and development [1]                 24,759 15,811 19,222
Sales, general, and administrative [1]                 387,260 236,104 153,820
Restructuring charges (credits)                 244 4,519 2,604
(Gain) loss on sale and impairment of residential lease assets                 0 (294) 45
(Gain) loss on business divestitures, net [1]                 0 (5,290) (10,334)
Expense (income) from transition services agreement, net [1]                 69 (4,255) (6,260)
Total operating expenses                 412,332 246,595 159,097
Operating (loss) income                 (9,331) 5,457 (10,627)
Other income (expense), net:                      
Interest income                 3,200 168 753
Interest expense [1]                 (21,565) (24,032) (28,683)
Other, net                 115,405 22,332 692,335
Other income (expense), net                 97,040 (1,532) 664,405
Income (loss) from continuing operations before income taxes and equity in earnings (losses) of unconsolidated investees                 87,709 3,925 653,778
Benefits from (provision for) income taxes                 8,383 (7,314) (57,817)
Equity in earnings (losses) of unconsolidated investees                 2,272 0 0
Net income (loss) from continuing operations 6,064 140,876 (41,054) (7,522) 37,120 (73,378) 85,816 (52,947) 98,364 (3,389) 595,961
(Loss) income from discontinued operations before income taxes and equity in (losses) earnings of unconsolidated investees [1]                 (51,729) (46,046) (126,811)
Benefits from (provision for) income taxes                 640 2,048 3,258
Equity in (losses) earnings of unconsolidated investees                 0 0 (586)
Net (loss) income from discontinued operations (1,634) (2,037) (21,453) (25,965) (18,043) (11,055) (13,144) (1,756) (51,089) (43,998) (124,139)
Net income (loss)                 47,275 (47,387) 471,822
Net (income) loss from continuing operations attributable to noncontrolling interests                 (4,676) 145 1,187
Net loss (income) from discontinued operations attributable to noncontrolling interests                 250 539 (165)
Net (income) loss attributable to noncontrolling interests                 (4,426) 684 1,022
Net income (loss) from continuing operations attributable to stockholders 5,059 137,651 (41,839) (7,183) 36,944 (73,641) 85,805 (52,352) 93,688 (3,244) 597,148
Net (loss) income from discontinued operations attributable to stockholders (1,634) (2,037) (21,453) (25,715) (18,665) (10,861) (12,695) (1,238) (50,839) (43,459) (124,304)
Net income (loss) attributable to stockholders $ 3,425 $ 135,614 $ (63,292) $ (32,898) $ 18,279 $ (84,502) $ 73,110 $ (53,590) $ 42,849 $ (46,703) $ 472,844
Net income (loss) per share attributable to stockholders - basic:                      
Continuing operations (usd per share) $ 0.03 $ 0.79 $ (0.24) $ (0.04) $ 0.21 $ (0.43) $ 0.50 $ (0.31) $ 0.54 $ (0.02) $ 3.52
Discontinued operations (usd per share) (0.01) (0.01) (0.12) (0.15) (0.11) (0.06) (0.07) (0.01) (0.29) (0.25) (0.73)
Net income (loss) per share - basic (usd per share) 0.02 0.78 (0.36) (0.19) 0.10 (0.49) 0.43 (0.32) 0.25 (0.27) 2.79
Net income (loss) per share attributable to stockholders - diluted:                      
Continuing operations (usd per share) 0.03 0.73 (0.24) (0.04) 0.21 (0.43) 0.50 (0.31) 0.54 (0.02) 3.10
Discontinued operations (usd per share) (0.01) (0.01) (0.12) (0.15) (0.11) (0.06) (0.07) (0.01) (0.29) (0.25) (0.63)
Net income (loss) per share - diluted (usd per share) $ 0.02 $ 0.72 $ (0.36) $ (0.19) $ 0.10 $ (0.49) $ 0.43 $ (0.32) $ 0.25 $ (0.27) $ 2.47
Weighted-average shares:                      
Basic (shares)                 173,919 172,436 169,801
Diluted (shares)                 174,603 175,116 197,242
[1] We have related-party transactions with TotalEnergies SE and its affiliates, Maxeon Solar, and unconsolidated entities in which we have a direct equity investment. These related-party transactions are recorded within the “total revenues,” “total cost of revenues,” “operating expenses: research and development,” “operating expenses: sales, general, and administrative,” “operating expenses: (gain) loss from business divestitures, net,” “operating expenses: expense (income) from transition services agreement, net,” “other income (expense), net: interest expense,” and “(loss) income from discontinued operations before income taxes and equity in (losses) earnings of unconsolidated investees” financial statement line items in our consolidated statements of operations (see Note 4, Note 11, and Note 13).