| VIE Arrangements |
VIE Arrangements The Company consolidated various VIEs at March 31, 2026 and December 31, 2025. The carrying amounts and classification of the VIEs’ assets and liabilities included in the consolidated balance sheets are as follows (in thousands): | | | | | | | | | | | | | | | | | March 31, 2026 | | December 31, 2025 | | Assets | | | | | | Current assets | | | | | | Cash | | $ | 428,960 | | | $ | 539,440 | | | Restricted cash | | 55,906 | | | 59,010 | | | Accounts receivable, net | | 123,482 | | | 118,907 | | | Inventories | | 139,389 | | | 180,841 | | | Prepaid expenses and other current assets | | 6,191 | | | 64,588 | | | Total current assets | | 753,928 | | | 962,786 | | | Energy systems, net | | 14,064,206 | | | 13,777,190 | | | Other assets | | 929,609 | | | 853,713 | | | Total assets | | $ | 15,747,743 | | | $ | 15,593,689 | | | Liabilities | | | | | | Current liabilities | | | | | | Accounts payable | | $ | 5,107 | | | $ | 5,125 | | Distributions payable to noncontrolling interests and redeemable noncontrolling interests | | 47,939 | | | 47,073 | | | Accrued expenses and other liabilities | | 50,921 | | | 110,390 | | | Deferred revenue, current portion | | 80,705 | | | 77,663 | | | | | | | | Non-recourse debt, current portion | | 57,441 | | | 54,129 | | | Total current liabilities | | 242,113 | | | 294,380 | | | Deferred revenue, net of current portion | | 974,853 | | | 947,578 | | | | | | | | Non-recourse debt, net of current portion | | 1,343,476 | | | 1,380,406 | | | Other liabilities | | 21,390 | | | 20,765 | | | Total liabilities | | $ | 2,581,832 | | | $ | 2,643,129 | |
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