v3.26.3
Fair Value (Tables)
 9 Months Ended
Sep. 30, 2026
Fair Value Disclosures [Abstract]  
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis
The tables below set forth, by level, our financial assets and liabilities that are accounted for at fair value for the respective periods. The table does not include assets and liabilities that are measured at historical cost or any basis other than fair value (in thousands):
Fair Value Measured at Reporting Date Using
September 30, 2026Level 1Level 2Level 3Total
Assets
Cash equivalents:
Money market funds$2,367,804 $— $— $2,367,804 
Liabilities
Derivatives:
Embedded EPP derivatives$— $— $4,889 $4,889 

Fair Value Measured at Reporting Date Using
December 31, 2025Level 1Level 2Level 3Total
Assets
Cash equivalents:
Money market funds$2,386,583 $— $— $2,386,583 
Liabilities
Derivatives:
Embedded EPP derivatives$— $— $5,607 $5,607 
Schedule of Change in Level 3 Financial Liabilities
The changes in the Level 3 financial liabilities during the nine months ended September 30, 2026, were as follows (in thousands):
Embedded EPP Derivative Liability
Liabilities at December 31, 2025
$5,607 
EPP liability settlement(493)
Changes in fair value(225)
Liabilities at September 30, 2026
$4,889 
Schedule of Fair Values and Carrying Values of Customer Receivables and Debt Instruments The following table presents the estimated fair values and carrying values of debt instruments (in thousands):
September 30, 2026December 31, 2025
Net Carrying
Value		Fair ValueNet Carrying
Value		Fair Value
Debt instruments
Recourse:
0% Convertible Senior Notes due November 20301
$2,450,891 $4,155,551 $2,442,091 $2,140,536 
3.0% Green Convertible Senior Notes due June 20291
22,608 304,704 73,473 313,740 
3.0% Green Convertible Senior Notes due June 20281
— — 98,162 456,764 
Non-recourse:
4.6% Term Loan due October 2026
2,950 3,355 2,769 3,009 
4.6% Term Loan due April 2026
$— $— $1,384 $1,550 
1 The increase in fair value primarily reflects the rise in the Company’s stock price.