v3.25.2
2. Cash, Cash Equivalents, and Marketable Securities (Notes)
 6 Months Ended
Jun. 30, 2025
Cash, Cash Equivalents, and Short-Term Investments [Abstract]  
Cash, Cash Equivalent, and Marketable Security
2. Cash, Cash Equivalents, and Marketable Securities

Cash, cash equivalents, and marketable securities consisted of the following at June 30, 2025 and December 31, 2024 (in thousands):
June 30,
2025		December 31,
2024
Cash and cash equivalents:
Cash$1,085,499 $1,094,796 
Money market funds39,241 526,580 
Total cash and cash equivalents1,124,740 1,621,376 
Marketable securities:
Time deposits20,025 162,836 
U.S. debt9,073 8,747 
Total marketable securities29,098 171,583 
Total cash, cash equivalents, and marketable securities$1,153,838 $1,792,959 
The following table provides a reconciliation of cash, cash equivalents, restricted cash, and restricted cash equivalents reported within our condensed consolidated balance sheets as of June 30, 2025 and December 31, 2024 to the total of such amounts as presented in the condensed consolidated statements of cash flows (in thousands):
Balance Sheet Line ItemJune 30,
2025		December 31,
2024
Cash and cash equivalentsCash and cash equivalents$1,124,740 $1,621,376 
Restricted cash – current
Other current assets48,257 8,262 
Restricted cash – noncurrent
Other assets3,606 3,613 
Restricted cash equivalents – noncurrentOther assets3,480 4,972 
Total cash, cash equivalents, restricted cash, and restricted cash equivalents$1,180,083 $1,638,223 

Restricted cash and restricted cash equivalents consist of deposits held by various banks to secure certain of our letters of credit, as well as deposits held in custodial accounts to fund the estimated future costs of our solar module collection and recycling obligations. Restricted cash also consists of collections from customers on behalf of factors that have purchased the related receivables.

During the three months ended June 30, 2024, we sold marketable securities for proceeds of $67.5 million and realized a gain of less than $0.1 million on such sales. See Note 8. “Fair Value Measurements” to our condensed consolidated financial statements for information about the fair value of our marketable securities. The following tables summarize the unrealized gains and losses related to our available-for-sale marketable securities, by major security type, as of June 30, 2025 and December 31, 2024 (in thousands):
 As of June 30, 2025
Amortized
Cost		Unrealized
Gains		Unrealized
Losses		Fair
Value
Time deposits$20,025 $— $— $20,025 
U.S. debt10,000 — 927 9,073 
Total$30,025 $— $927 $29,098 
 As of December 31, 2024
Amortized
Cost		Unrealized
Gains		Unrealized
Losses		Fair
Value
Time deposits$162,836 $— $— $162,836 
U.S. debt10,000 — 1,253 8,747 
Total$172,836 $— $1,253 $171,583 

The contractual maturities of our marketable securities as of June 30, 2025 were as follows (in thousands):
Fair
Value
Within one year
$24,893 
After one year through five years
— 
After five years through ten years
4,205 
Total$29,098