Sunrun Inc. RUN Balance Sheet

Sunrun inc. (RUN)

Balance Sheet / Quarterly

Mar'20	Dec'19	Sep'19	Jun'19	Mar'19	Dec'18	Sep'18	Jun'18	Mar'18	Dec'17	Sep'17	Jun'17	Mar'17	Dec'16	Sep'16	Jun'16	Mar'16	Dec'15	Sep'15	Jun'15	Dec'14
Assets
Current assets:
Cash
286	269	324	299	245	226	242	215	203	202	216	211	203	206	207	207	208	203	263	116	152
Restricted cash
79	93	48	54	64	77	32	54	40	39	14	15	12	11	11	10	9	9	8	5	2
Accounts receivable (net of allowances for doubtful accounts of $3,128 and $3,151 as of March 31, 2020 and December 31, 2019, respectively)
65	77	75	77	67	66	65	123	111	60	73	64	54	60	51	56	56	60	53	49	43
State tax credits receivable
7	6	0	0	0	2	0	0	11	11	11	0	-	13	-	-	-	9	-	-	5
Grants receivable
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	9	-	-
Inventories
257	260	109	89	76	79	95	81	87	94	63	52	59	67	85	88	94	71	51	37	23
Prepaid expenses and other current assets
10	25	8	8	9	8	9	9	6	9	13	12	11	9	12	12	13	5	8	16	9
Deferred tax assets, current
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	4	2	-
Total current assets
707	733	567	530	463	461	446	484	459	416	391	356	341	369	368	374	382	359	398	229	236
Restricted cash
0	0	0	0	0	0	0	0	-	0	5	5	6	6	6	6	6	8	7	7	6
Solar energy systems, net
4,644	4,492	4,333	4,149	3,976	3,820	3,618	3,437	3,285	3,161	3,147	2,951	2,790	2,629	2,461	2,282	2,137	1,992	1,837	1,695	1,484
Property and equipment, net
52	56	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Property, Plant and Equipment, Net
-	-	56	50	35	34	33	32	33	36	38	41	44	48	52	53	51	44	34	27	22
Intangible assets, net
18	19	21	8	9	10	11	12	13	14	15	16	17	18	19	20	21	22	23	24	13
Goodwill
95	95	95	87	87	87	87	87	87	87	87	87	87	87	87	87	87	87	87	87	51
Prepaid tax asset
-	-	-	-	-	-	-	-	-	-	0	0	-	378	323	278	222	190	170	142	109
Other assets
420	408	398	380	367	335	336	244	221	246	31	29	31	34	35	33	31	29	23	26	9
Total assets
5,938	5,806	5,472	5,207	4,939	4,749	4,533	4,299	4,101	3,963	3,717	3,489	3,319	3,572	3,356	3,136	2,941	2,734	2,583	2,240	1,932
Liabilities and total equity
Current liabilities:
Accounts payable
159	223	169	153	105	131	136	85	99	115	108	75	65	66	88	93	93	104	97	69	51
Distributions payable to noncontrolling interests and redeemable noncontrolling interests
17	16	16	16	15	15	15	15	15	13	14	13	11	10	9	8	7	8	7	6	6
Accrued expenses and other liabilities
118	148	121	104	103	98	85	98	92	97	54	52	48	59	57	52	53	49	45	42	25
Deferred revenue, current portion
78	77	61	59	55	47	46	45	43	42	74	70	74	70	67	65	65	59	52	51	44
Deferred grants, current portion
8	8	7	8	7	7	8	8	8	8	7	8	8	8	14	14	14	13	13	14	13
Finance lease obligations, current portion
9	10	11	11	9	9	8	7	6	7	7	8	9	10	11	11	10	8	6	3	1
Recourse debt, current portion
-	-	-	239	-	-	-	-	-	-	247	247	-	-	-	-	-	-	-	-	-
Non-recourse debt, current portion
71	35	29	35	26	35	27	24	28	21	22	18	15	14	12	6	5	4	1	1	2
Solar asset-backed notes, current portion
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	2	-	-
Pass-through financing obligation, current portion
11	11	10	10	11	26	55	38	5	5	6	5	5	5	5	4	4	3	2	3	5
Total current liabilities
474	530	429	637	336	372	383	322	300	311	544	500	238	244	266	256	256	252	231	193	150
Deferred revenue, net of current portion
660	651	651	643	637	544	539	534	528	522	581	578	578	583	582	579	577	559	524	510	467
Deferred grants, net of current portion
217	218	214	217	219	221	220	223	225	227	231	222	224	226	208	212	216	220	224	219	226
Finance lease obligations, net of current portion
11	12	14	14	10	9	7	5	4	5	7	8	10	12	15	16	17	15	11	7	5
Recourse debt
237	239	239	0	239	247	247	247	247	247	0	0	247	244	244	242	191	197	133	140	48
Non-recourse debt, net of current portion
2,128	1,980	1,776	1,688	1,558	1,466	1,290	1,226	1,108	1,026	846	761	686	639	558	505	436	333	224	195	188
Solar asset-backed notes, net of current portion
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	106	-	-
Pass-through financing obligation, net of current portion
327	327	329	329	329	337	306	221	132	132	137	139	138	137	138	139	143	153	124	203	180
Other liabilities
229	141	166	113	84	48	37	39	33	42	10	10	5	5	11	12	8	7	4	3	2
Deferred tax liabilities
37	65	67	73	84	93	98	103	96	83	68	54	41	415	334	278	222	190	174	145	109
Total liabilities
4,324	4,168	3,889	3,719	3,499	3,340	3,131	2,924	2,676	2,598	2,427	2,275	2,170	2,510	2,359	2,244	2,068	1,927	1,760	1,618	1,380
Commitments and contingencies (Note 15)
-	-	-	-	-	-	0	0	0	-	0	0	0	0	0	0	0	0	-	-	0
Redeemable noncontrolling interests
415	306	336	278	137	126	117	129	133	123	176	163	142	137	150	163	138	147	176	151	135
Stockholders’ equity:
Preferred stock, $0.0001 par value—authorized, 200,000 shares as of March 31, 2020 and December 31, 2019; no shares issued and outstanding as of March 31, 2020 and December 31, 2019
0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	-	0
Common stock, $0.0001 par value—authorized, 2,000,000 shares as of March 31, 2020 and December 31, 2019; issued and outstanding, 120,123 and 118,451 shares as of March 31, 2020 and December 31, 2019, respectively
0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Additional paid-in capital
775	766	755	748	730	722	712	704	693	682	684	679	672	668	660	654	646	642	636	411	383
Accumulated other comprehensive loss
-125	-52	-72	-47	-21	-3	18	16	10	-4	-3	-3	0	0	-5	-5	-6	-0	-2	1	-
Retained earnings
222	251	243	214	216	229	235	238	230	202	73	45	20	4	-24	-41	-74	-87	-72	-69	-59
Total stockholders’ equity
872	964	926	915	924	948	966	958	934	881	753	721	693	672	630	606	565	554	561	343	324
Noncontrolling interests
326	366	318	293	377	334	317	286	356	358	359	328	313	251	214	121	169	105	84	126	91
Total equity
1,198	1,331	1,245	1,209	1,302	1,282	1,284	1,245	1,291	1,240	1,113	1,050	1,006	924	845	728	735	659	646	470	416
Total liabilities, redeemable noncontrolling interests and total equity
5,938	5,806	5,472	5,207	4,939	4,749	4,533	4,299	4,101	3,963	3,717	3,489	3,319	3,572	3,356	3,136	2,941	2,734	2,583	2,240	1,932