v3.26.3
4. Consolidated Balance Sheet Details (Tables)
 9 Months Ended
Sep. 30, 2026
Balance Sheet Related Disclosures [Abstract]  
Schedule of Accounts Receivable Trade, Net
Accounts receivable trade, net consisted of the following at September 30, 2026 and December 31, 2025 (in thousands):
September 30,
2026		December 31,
2025
Accounts receivable trade, gross (1)$1,607,128 $1,307,307 
Allowance for credit losses(16,104)(13,267)
Accounts receivable trade, net$1,591,024 $1,294,040 
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(1)See Note 10. “Other Financing Arrangements” to our condensed consolidated financial statements for discussion of our various factoring arrangements.
Schedule of Inventories, Current and Noncurrent
Inventories consisted of the following at September 30, 2026 and December 31, 2025 (in thousands):
September 30,
2026		December 31,
2025
Raw materials$391,823 $429,675 
Work in process196,053 105,325 
Finished goods725,605 439,196 
Inventories$1,313,481 $974,196 
Inventories – current$1,138,584 $736,734 
Inventories – noncurrent$174,897 $237,462 
Schedule of Other Current Assets
Other current assets consisted of the following at September 30, 2026 and December 31, 2025 (in thousands):
September 30,
2026		December 31,
2025
Spare maintenance materials and parts$293,457 $278,767 
Indirect tax receivables122,634 124,045 
Advance payments for raw materials76,549 64,319 
Operating supplies53,027 57,427 
Insurance receivable for accrued litigation (1)45,000 21,800 
Prepaid expenses32,529 34,961 
Restricted cash1,386 — 
Derivative instruments (2)1,140 4,001 
Prepaid income taxes741 9,772 
Other40,821 48,011 
Other current assets$667,284 $643,103 
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(1)See Note 11. “Commitments and Contingencies” to our condensed consolidated financial statements for discussion of our legal proceedings.

(2)See Note 6. “Derivative Financial Instruments” to our condensed consolidated financial statements for discussion of our derivative instruments.
Schedule of Property, Plant and Equipment, Net
Property, plant and equipment, net consisted of the following at September 30, 2026 and December 31, 2025 (in thousands):
September 30,
2026		December 31,
2025
Land$39,483 $39,578 
Buildings and improvements 1,937,203 1,929,051 
Machinery and equipment 5,810,126 5,746,979 
Office equipment and furniture173,874 162,070 
Leasehold improvements34,035 34,136 
Construction in progress611,461 321,524 
Property, plant and equipment, gross8,606,182 8,233,338 
Accumulated depreciation(2,972,308)(2,557,544)
Property, plant and equipment, net$5,633,874 $5,675,794 
Schedule of Other Assets
Other assets consisted of the following at September 30, 2026 and December 31, 2025 (in thousands):
September 30,
2026		December 31,
2025
Advance payments for raw materials$311,144 $319,783 
Lease assets (1)255,357 196,058 
Income tax receivables110,067 110,067 
Project assets25,530 25,721 
Restricted cash equivalents13,230 6,900 
Prepaid expenses12,923 17,180 
Restricted cash2,321 3,617 
Accounts receivable, trade— 16,000 
Other (2)69,925 64,343 
Other assets$800,497 $759,669 
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(1)See Note 7. “Leases” to our condensed consolidated financial statements for discussion of our lease arrangements.
(2)During 2023, we entered into a power purchase agreement with Cleantech Solar (“Cleantech”), a leading provider of renewable energy solutions in India and Southeast Asia, and Cleantech committed to construct certain photovoltaic (“PV”) solar and wind power-generating assets to supply electricity to our manufacturing facility in India.

During 2024, we purchased ownership interests in two subsidiaries of Cleantech. These subsidiaries own certain of the power-generating assets that supply electricity to our facility, and we account for our investments in these subsidiaries using the equity method. As of September 30, 2026, the carrying amount of our investments in these subsidiaries was $6.8 million.
During the three and nine months ended September 30, 2026, we purchased $1.5 million and $4.1 million of electricity, respectively, from these subsidiaries. During the three and nine months ended September 30, 2025, we purchased $1.3 million and $2.5 million of electricity, respectively, from these subsidiaries.
Schedule of Accrued Expenses
Accrued expenses consisted of the following at September 30, 2026 and December 31, 2025 (in thousands):
September 30,
2026		December 31,
2025
Accrued property, plant and equipment$88,084 $109,030 
Accrued compensation and benefits70,163 67,023 
Accrued freight68,323 51,707 
Product warranty liability (1)58,917 59,266 
Accrued taxes57,423 58,601 
Accrued inventory 8,411 69,093 
Other78,758 104,694 
Accrued expenses$430,079 $519,414 
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(1)See Note 11. “Commitments and Contingencies” to our condensed consolidated financial statements for discussion of our product warranties.
Schedule of Other Current Liabilities
Other current liabilities consisted of the following at September 30, 2026 and December 31, 2025 (in thousands):
September 30,
2026		December 31,
2025
Accrued litigation (1)$45,000 $21,800 
Lease liabilities (2)17,496 18,090 
Derivative instruments (3)839 2,357 
Other65,010 48,811 
Other current liabilities$128,345 $91,058 
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(1)See Note 11. “Commitments and Contingencies” to our condensed consolidated financial statements for discussion of our legal proceedings.

(2)See Note 7. “Leases” to our condensed consolidated financial statements for discussion of our lease arrangements.

(3)See Note 6. “Derivative Financial Instruments” to our condensed consolidated financial statements for discussion of our derivative instruments.
Schedule of Other Liabilities
Other liabilities consisted of the following at September 30, 2026 and December 31, 2025 (in thousands):
September 30,
2026		December 31,
2025
Lease liabilities (1)$199,810 $138,673 
Deferred tax liabilities, net58,349 69,691 
Other taxes payable52,699 51,711 
Product warranty liability (2)12,986 20,142 
Other13,481 15,370 
Other liabilities$337,325 $295,587 
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(1)See Note 7. “Leases” to our condensed consolidated financial statements for discussion of our lease arrangements.

(2)See Note 11. “Commitments and Contingencies” to our condensed consolidated financial statements for discussion of our product warranties.