Note 9. VIE Arrangements

The Company consolidated various VIEs at June 30, 2016 and December 31, 2015. The carrying amounts and classification of the VIEs’ assets and liabilities included in the consolidated balance sheets are as follows (in thousands):

	June 30, 2016		December 31, 2015
Assets
Current assets
Cash	$	53,415	$	44,407
Restricted cash		283		757
Accounts receivable, net		18,627		12,965
Prepaid expenses and other current assets		47		66
Total current assets		72,372		58,195
Solar energy systems, net		1,579,222		1,305,420
Total Assets	$	1,651,594	$	1,363,615

Liabilities
Current liabilities
Accounts payable	$	11,045	$	11,025
Distribution payable to noncontrolling interests and redeemable noncontrolling interests		8,465		8,063
Accrued expenses and other liabilities		86		175
Deferred revenue, current portion		22,706		21,344
Deferred grants, current portion		7,192		7,198
Long-term non-recourse debt, current portion		1,247		1,159
Total current liabilities		50,741		48,964
Deferred revenue, net of current portion		375,377		353,392
Deferred grants, net of current portion		104,843		108,528
Long-term non-recourse debt, net of current portion		28,350		29,580
Total liabilities	$	559,311	$	540,464

The Company holds a variable interest in an entity that provides the noncontrolling interest with a right to terminate the leasehold interests in all of the leased projects on the tenth anniversary of the effective date of the master lease. In this circumstance, the Company would be required to pay the noncontrolling interest an amount equal to the fair market value, as defined in the governing agreement of all leased projects as of that date.

The Company holds certain variable interests in nonconsolidated VIEs established as a result of five lease pass-through Fund arrangements as further explained in Note 8, Lease Pass-Through Financing Obligations. The Company does not have material exposure to losses as a result of its involvement with the VIEs in excess of the amount of the financing liability recorded in the Company’s consolidated financial statements. The Company is not considered the primary beneficiary of the VIEs.