v3.24.1.u1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Operating activities:    
Net loss $ (283,150) $ (335,773)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization, net of amortization of deferred grants 150,520 123,105
Deferred income taxes (2,202) (59,613)
Stock-based compensation expense 28,869 28,266
Interest on pass-through financing obligations 4,756 4,862
Reduction in pass-through financing obligations (9,335) (9,641)
Unrealized (gain) loss on derivatives (55,103) 30,721
Other noncash items 14,639 27,366
Changes in operating assets and liabilities:    
Accounts receivable (1,371) (9,385)
Inventories 47,753 (103,986)
Prepaid expenses and other assets (135,678) (109,454)
Accounts payable 59,641 (1,428)
Accrued expenses and other liabilities 3,395 (26,776)
Deferred revenue 34,173 2,413
Net cash used in operating activities (143,093) (439,323)
Investing activities:    
Payments for the costs of solar energy systems (538,975) (506,314)
Purchases of property and equipment, net 3,531  
Purchases of property and equipment, net   (3,996)
Net cash used in investing activities (535,444) (510,310)
Financing activities:    
Proceeds from state tax credits, net of recapture 0 4,033
Proceeds from line of credit 139,805 143,331
Repayment of line of credit (292,305) (96,236)
Proceeds from issuance of convertible senior notes, net of capped call transaction 444,822 0
Repurchase of convertible senior notes (173,715) 0
Payment of debt fees (47,779) (733)
Proceeds from pass-through financing and other obligations, net 1,808 2,004
Repayment of pass-through financing obligation (20,000) 0
Payment of finance lease obligations (6,732) (4,477)
Contributions received from noncontrolling interests and redeemable noncontrolling interests 164,337 397,750
Distributions paid to noncontrolling interests and redeemable noncontrolling interests (74,834) (63,901)
Acquisition of noncontrolling interest (1,159) (7,175)
Proceeds from transfer of investment tax credits 106,529 0
Payments to redeemable noncontrolling interests and noncontrolling interests of investment tax credits 106,529 0
Net proceeds related to stock-based award activities 1,056 1,328
Net cash provided by financing activities 473,878 839,836
Net change in cash and restricted cash (204,659) (109,797)
Cash and restricted cash, beginning of period 987,838 953,023
Cash and restricted cash, end of period 783,179 843,226
Supplemental disclosures of cash flow information    
Cash paid for interest 136,711 93,988
Cash paid for income taxes 0 0
Supplemental disclosures of noncash investing and financing activities    
Purchases of solar energy systems and property and equipment included in accounts payable and accrued expenses 59,370 69,557
Right-of-use assets obtained in exchange for new finance lease liabilities 14,891 10,175
Non-recourse debt    
Financing activities:    
Proceeds from issuance of non-recourse debt 770,106 514,880
Repayment of non-recourse debt $ (431,532) $ (50,968)

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