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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Jan. 01, 2023
Jan. 02, 2022
Jan. 03, 2021
Cash flows from operating activities:      
Net income (loss) from continuing operations $ 47,275 $ (47,387) $ 471,822
Adjustments to reconcile net income (loss) to net cash used in operating activities:      
Depreciation and amortization 30,291 11,863 48,660
Amortization of cloud computing arrangements 5,339 72 0
Stock-based compensation 26,434 25,902 24,817
Amortization of debt issuance costs 3,664 5,042 6,562
Equity in (earnings) losses of unconsolidated investees (2,271) 0 586
(Gain) loss on equity investments (114,710) (21,712) (692,100)
(Gain) loss on retirement of convertible debt 0 0 (2,182)
(Gain) loss on sale of investments 0 (1,162) 0
(Gain) loss on business divestitures, net 0 (224) (10,334)
Unrealized (gain) loss on derivatives (2,293) 0 0
Dividend from equity method investees 120 0 0
Deferred income taxes (13,973) 5,688 19,241
(Gain) loss on sale and impairment of residential lease assets 0 (226) 1,024
Other, net: 1,209 (670) 196
Changes in operating assets and liabilities:      
Accounts receivable (59,969) (16,792) 98,466
Contract assets (14,174) 36,260 (12,483)
Inventories (90,227) (5,363) (29,808)
Project assets 295 4,398 (8,187)
Prepaid expenses and other assets (200,687) (32,726) (5,639)
Operating lease right-of-use assets 11,445 11,262 10,552
Advances to suppliers (11,915) (462) 13,482
Accounts payable and other accrued liabilities 120,518 (10,298) (77,135)
Contract liabilities 97,900 9,155 (34,530)
Operating lease liabilities (15,168) (13,010) (10,401)
Net cash (used in) provided by operating activities (180,897) (40,390) (187,391)
Cash flows from investing activities:      
Purchases of property, plant, and equipment (48,807) (10,024) (14,577)
Investments in software development costs (5,690) (3,519) 0
Proceeds from sale of property, plant and equipment 0 900 0
Cash paid for solar power systems 0 (635) (6,528)
Purchases of marketable securities 0 0 (1,338)
Proceeds from maturities of marketable securities 0 0 6,588
Cash outflow upon Maxeon Solar Spin-Off, net of proceeds 0 0 (131,136)
Cash received from sale of investments 0 1,200 0
Proceeds from business divestiture, net of cash 0 10,516 15,418
Cash received from C&I Solutions sale, net of de-consolidated cash 146,303 0 0
Cash paid for acquisitions, net of cash acquired 0 (124,200) 0
Cash paid for equity investments under the Dealer Accelerator Program and other (30,920) 0 0
Proceeds from sale of equity investment 440,108 177,780 253,039
Proceeds from return of capital from equity investments 0 2,276 7,724
Cash paid for investments in unconsolidated investees (8,173) 0 0
Dividend from equity method investee, in excess of cumulative earnings 150 0 0
Net cash provided by (used in) investing activities 492,971 54,294 129,190
Cash flows from financing activities:      
Proceeds from bank loans and other debt 146,211 152,081 216,483
Repayment of bank loans and other debt (182,340) (180,869) (227,677)
Proceeds from issuance of non-recourse residential and commercial financing, net of issuance costs 0 0 14,789
Repayment of non-recourse residential and commercial financing 0 (9,798) (9,044)
Contributions from noncontrolling interests attributable to residential projects 0 0 22
Distributions to noncontrolling interests attributable to residential projects (9,201) 0 (1,392)
Repayment of convertible debt 0 (62,757) (334,732)
Proceeds from issuance of Maxeon Solar green convertible debt 0 0 200,000
Payments for financing leases (1,432) (2) 0
Receipt of contingent asset of a prior business combination 0 0 2,245
Settlement of contingent consideration arrangement of a prior business combination 0 0 (776)
Issuance of common stock to executive 0 2,998 0
Equity offering costs paid 0 0 (928)
Purchases of stock for tax withholding obligations on vested restricted stock (11,405) (9,762) (12,842)
Net cash (used in) provided by financing activities (58,167) (108,109) (153,852)
Effect of exchange rate changes on cash, cash equivalents, and restricted cash 0 0 200
Net increase (decrease) in cash, cash equivalents, and restricted cash 253,907 (94,205) (211,853)
Cash, cash equivalents, restricted cash and restricted cash equivalents, beginning of period 152,599 246,804 458,657
Cash, cash equivalents, restricted cash and restricted cash equivalents, end of period 406,506 152,599 246,804
Reconciliation of cash, cash equivalents, and restricted cash to the consolidated balance sheets, including discontinued operations:      
Cash and cash equivalents 377,026 127,130 232,765
Restricted cash and cash equivalents, current portion 10,668 4,874 5,518
Restricted cash and cash equivalents, net of current portion 18,812 20,595 8,521
Total cash, cash equivalents, and restricted cash 406,506 152,599 246,804
Supplemental disclosure of non-cash activities:      
Costs of solar power systems funded by liabilities 0 0 635
Property, plant and equipment acquisitions funded by liabilities (including financing leases) 12,380 1,368 866
Right-of-use assets obtained in exchange for lease obligations 14,452 20,838 22,794
Net working capital settlement related to C&I Solutions sale 7,005 0 0
Deconsolidation of right-of-use assets and lease obligations 0 3,340 0
Debt repaid in sale of commercial projects 0 5,585 0
Assumption of liabilities in connection with business divestitures 0 0 9,056
Holdbacks in connection with business divestitures 0 0 7,199
Costs of solar power systems sourced from existing inventory 0 0 1,018
Fair value of contingent consideration for business combination 0 11,100 0
Supplemental cash flow disclosures:      
Cash paid for interest 21,064 25,289 31,704
Cash paid for income taxes $ 7,437 $ 22,825 $ 18,708