v3.25.4

Fair Value (Tables) | 12 Months Ended
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Dec. 31, 2025
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
December 31, 2025 |  | Level 1 |  | Level 2 |  | Level 3 |  | Total
Assets |  |  |  |  |  |  |  |
Cash equivalents: |  |  |  |  |  |  |  |
Money market funds |  | $ | 2,386,583 |  |  | $ | — |  |  | $ | — |  |  | $ | 2,386,583 |
Liabilities |  |  |  |  |  |  |  |
Derivatives: |  |  |  |  |  |  |  |
Embedded EPP derivatives |  | $ | — |  |  | $ | — |  |  | $ | 5,607 |  |  | $ | 5,607 |
|  | Fair Value Measured at Reporting Date Using
December 31, 2024 |  | Level 1 |  | Level 2 |  | Level 3 |  | Total
Assets |  |  |  |  |  |  |  |
Cash equivalents: |  |  |  |  |  |  |  |
Money market funds |  | $ | 749,358 |  |  | $ | — |  |  | $ | — |  |  | $ | 749,358 |
Liabilities |  |  |  |  |  |  |  |
Derivatives: |  |  |  |  |  |  |  |
Embedded EPP derivatives |  | $ | — |  |  | $ | — |  |  | $ | 5,070 |  |  | $ | 5,070 |
Schedule of Change in Level 3 Financial Liabilities | The changes in the Level 3 financial liabilities during the years ended December 31, 2025, 2024 and 2023, were as follows (in thousands):
| Embedded EPP Derivative Liability
Liabilities at December 31, 2023 | $ | 4,376 |
Changes in fair value | 694 |
Liabilities at December 31, 2024 | 5,070 |
Changes in fair value | 537 |
Liabilities at December 31, 2025 | $ | 5,607 |
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):
|  | December 31, 2025 |  | December 31, 2024
|  | Net Carrying Value |  | Fair Value |  | Net Carrying Value |  | Fair Value
Debt instruments |  |  |  |  |  |  |  |
Recourse: |  |  |  |  |  |  |  |
0% Convertible Senior Notes due November 2030 |  | $ | 2,442,091 |  |  | $ | 2,140,536 |  |  | $ | — |  |  | $ | — |
3.0% Green Convertible Senior Notes due June 2029 1 |  | 73,473 |  |  | 313,740 |  |  | 391,239 |  |  | 532,789 |
3.0% Green Convertible Senior Notes due June 2028 1 |  | 98,162 |  |  | 456,764 |  |  | 619,111 |  |  | 872,344 |
2.5% Green Convertible Senior Notes due August 2025 |  | — |  |  | — |  |  | 114,385 |  |  | 163,875 |
Non-recourse: |  |  |  |  |  |  |  |
4.6% Term Loan due October 2026 |  | 2,769 |  |  | 3,009 |  |  | 2,705 |  |  | 2,856 |
4.6% Term Loan due April 2026 |  | $ | 1,384 |  |  | $ | 1,550 |  |  | $ | 1,352 |  |  | $ | 1,482 |
1 The increase in fair value primarily reflects the rise in the Company’s stock price.

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- Definition Tabular disclosure of the fair value of financial instruments, including financial assets and financial liabilities, and the measurements of those instruments, assets, and liabilities. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Name Accounting Standards Codification -Section 55 -Paragraph 10 -SubTopic 10 -Topic 825 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482881/825-10-55-10 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 825 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 13 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482907/825-10-50-13 Reference 3: http://www.xbrl.org/2003/role/exampleRef -Topic 825 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 12 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482881/825-10-55-12 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 825 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482907/825-10-50-12 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 825 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 11 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482907/825-10-50-11 + Details
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- Definition Tabular disclosure of the fair value measurement of liabilities using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets), and gains or losses recognized in other comprehensive income (loss) and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs) by class of liability. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-3 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 + Details
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- Definition Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 + Details
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