XML 62 R32.htm IDEA: XBRL DOCUMENT
v3.21.1

SEGMENT INFORMATION | 12 Months Ended
--- | ---
Dec. 31, 2020
SEGMENT INFORMATION |
SEGMENT INFORMATION | 22. SEGMENT INFORMATION The Company uses the management approach to determine operating segments. The management approach considers the internal organization and reporting used by the Company’s chief operating decision maker (“CODM”) for making decisions, allocating resources and assessing performance. The Company’s CODM has been identified as the Chief Executive Officer of the Company, since he reviews consolidated and segment results when making decisions about allocating resources and assessing performance of the Company. From 2016 through the third quarter of 2020, the Company had been operating in two principal businesses: MSS and Energy. The MSS business comprised primarily the design, development, manufacture and sale of solar modules, other solar power products and solar system kits. The MSS business also provided engineering, procurement and construction (EPC) services. The Energy business comprised primarily the development and sale of solar projects, operating solar power projects, the sale of electricity and operating and maintenance (O&M) services. The module sales from the Company’s MSS business to its Energy business were on terms and conditions similar to sales to third parties. ​ 22. SEGMENT INFORMATION (Continued) In July 2020, the Company reached a strategic decision to pursue a listing of its subsidiary, CSI Solar Co, in China. To align with the objective of ASC 280, Segment Reporting (“Topic 280”) and present the Company’s disaggregated financial information consistent with the management approach, beginning from the fourth quarter of 2020, the Company reports its financial performance, including revenue, gross profit and income from operations, based on the following two reportable segments: ​
| ● | CSI Solar, which includes solar modules, solar system kits, battery energy storage solutions, China energy (including solar projects, EPC services and electricity revenue in China), and other materials, components and services (including EPC); and
​
| ● | Global Energy, which includes global solar and energy storage power projects (excludes China), O&M and asset management services, global electricity revenue (excludes China), as well as other development services.
​ The module sales from the Company’s CSI Solar business to its Global Energy business are on terms and conditions similar to sales to third parties. Comparative period financial information for 2018 and 2019 by reportable segment has been recast to conform to current presentation. ​ The Company continually monitors and reviews its segment reporting structure in accordance with Topic 280 to determine whether any changes have occurred that would impact its reportable segments. ​ The Company’s CODM reviews net revenue and gross profit and does not review balance sheet information by segment. ​ The following table summarizes the Company’s revenues, gross profit and income from operations generated from each segment: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Years Ended December 31, 2020
​ | ​ | ​ | ​ | ​ | ​ | Elimination | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | and | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | unallocated | ​ | ​
​ |  | CSI Solar |  | Global Energy |  | items (1) |  | Total
​ | ​ | $ | ​ | $ | ​ | $ | ​ | $
Net revenues |  | 3,105,044 |  | 726,167 | ​ | (354,716) | ​ | 3,476,495
Cost of revenues |  | 2,496,153 |  | 577,052 | ​ | (286,624) | ​ | 2,786,581
Gross profit |  | 608,891 |  | 149,115 | ​ | (68,092) | ​ | 689,914
Income from operations | ​ | 253,105 | ​ | 53,414 | ​ | (86,089) | ​ | 220,430
​ ​ 22. SEGMENT INFORMATION (Continued)
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Years Ended December 31, 2019
​ | ​ | ​ | ​ | ​ | ​ | Elimination | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | and | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | unallocated | ​ | ​
​ |  | CSI Solar |  | Global Energy |  | items (1) |  | Total
​ | ​ | $ | ​ | $ | ​ | $ | ​ | $
Net revenues |  | 2,591,154 |  | 718,735 | ​ | (109,306) | ​ | 3,200,583
Cost of revenues |  | 1,977,502 |  | 604,856 | ​ | (100,272) | ​ | 2,482,086
Gross profit |  | 613,652 |  | 113,879 | ​ | (9,034) | ​ | 718,497
Income from operations | ​ | 267,642 | ​ | 18,795 | ​ | (27,558) | ​ | 258,879
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Years Ended December 31, 2018
​ | ​ | ​ | ​ | ​ | ​ | Elimination | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | and | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | unallocated | ​ | ​
​ |  | CSI Solar |  | Global Energy |  | items (1) |  | Total
​ | ​ | $ | ​ | $ | ​ | $ | ​ | $
Net revenues |  | 2,448,057 |  | 1,427,245 | ​ | (130,790) | ​ | 3,744,512
Cost of revenues |  | 1,941,539 |  | 1,184,724 | ​ | (156,833) | ​ | 2,969,430
Gross profit |  | 506,518 |  | 242,521 | ​ | 26,043 | ​ | 775,082
Income from operations | ​ | 182,488 | ​ | 171,876 | ​ | 10,293 | ​ | 364,657
| (1) | Includes inter-segment elimination, and unallocated corporate costs not considered part of management’s evaluation of reportable segment operating performance.
​ Income from operations is estimated based on the Company’s management accounts as some services are shared by two segments. ​ 22. SEGMENT INFORMATION (Continued) The following table summarizes the Company’s net revenues generated from different geographic locations. The information presented below is based on the location of customers’ headquarters: ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Years Ended December 31,
​ |  | 2018 |  | 2019 |  | 2020
​ | ​ | $ | ​ | $ | ​ | $
Europe and other regions: | ​ | ​ | ​ | ​ | ​ | ​
—Australia | ​ | 232,409 | ​ | 313,167 | ​ | 120,403
—Germany |  | 95,514 |  | 109,119 |  | 119,035
—Spain |  | 58,811 |  | 78,228 |  | 138,972
—Netherlands |  | 83,475 |  | 68,770 |  | 96,372
—South Africa | ​ | 53,739 | ​ | 93,911 | ​ | 49,375
—United Kingdom | ​ | 101,479 | ​ | 33,158 | ​ | 8,842
—Czech |  | 17,411 | ​ | 17,717 | ​ | 16,144
—Others |  | 55,730 |  | 66,389 |  | 85,407
​ |  | 698,568 |  | 780,459 |  | 634,550
The Americas: | ​ | ​ | ​ | ​ | ​ | ​
—United States |  | 999,144 |  | 852,231 |  | 696,101
—Brazil | ​ | 339,964 | ​ | 395,303 | ​ | 284,478
—Mexico |  | 50,004 |  | 94,446 |  | 118,846
—Canada | ​ | 57,478 | ​ | 30,330 | ​ | 100,284
—Others |  | 28,067 |  | 29,731 |  | 21,396
​ |  | 1,474,657 |  | 1,402,041 |  | 1,221,105
Asia: | ​ | ​ | ​ | ​ | ​ | ​
—Japan |  | 483,041 |  | 372,687 |  | 560,701
—PRC |  | 620,520 |  | 317,077 |  | 504,656
—Vietnam | ​ | 4,216 | ​ | 39,268 | ​ | 289,621
—Korea | ​ | 46,697 | ​ | 72,552 | ​ | 25,896
—India |  | 145,873 |  | 70,893 |  | 61,141
—United Arab Emirates | ​ | 104,467 | ​ | 43,311 | ​ | 53,981
—Thailand | ​ | 23,511 | ​ | 12,753 | ​ | 6,108
—Others |  | 142,962 |  | 89,542 |  | 118,736
​ |  | 1,571,287 |  | 1,018,083 |  | 1,620,840
Total net revenues |  | 3,744,512 |  | 3,200,583 |  | 3,476,495
​ ​ 22. SEGMENT INFORMATION (Continued) The following table summarizes the Company’s long-lived assets, including property, plant and equipment, non-current project assets, solar power systems, prepaid land use rights and intangible assets at December 31, 2019 and 2020 by geographic region, based on the physical location of the assets: ​
​ | ​ | ​ | ​ | ​
​ |  | At December 31, |  | At December 31,
​ | ​ | 2019 | ​ | 2020
​ | ​ | $ | ​ | $
PRC |  | 835,991 |  | 1,002,409
Thailand | ​ | 331,931 | ​ | 295,240
Japan | ​ | 259,197 | ​ | 204,515
Australia | ​ | 63,143 | ​ | 76,330
United States | ​ | 60,177 | ​ | 64,009
Canada |  | 14,718 |  | 8,898
Others |  | 100,513 |  | 139,137
Total long-lived assets |  | 1,665,670 |  | 1,790,538
​ The following table summarizes the Company’s revenues generated from each product or service: ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Years Ended December 31,
​ |  | 2018 |  | 2019 |  | 2020
​ | ​ | $ | ​ | $ | ​ | $
CSI Solar: | ​ | ​ | ​ | ​ | ​ | ​
Solar modules |  | 1,847,305 |  | 2,012,059 |  | 2,348,724
Solar system kits |  | 93,253 |  | 116,449 |  | 157,656
Battery storage solutions | ​ | — | ​ | — | ​ | 7,899
China energy (includes electricity sales) | ​ | 245,321 | ​ | 58,096 | ​ | 175,388
Others | ​ | 131,388 | ​ | 295,244 | ​ | 60,661
Global Energy: | ​ | ​ | ​ | ​ | ​ | ​
Solar power projects |  | 1,319,021 |  | 652,050 |  | 654,827
O&M and asset management services | ​ | 13,271 | ​ | 19,750 | ​ | 26,386
Others |  | 94,953 |  | 46,935 |  | 44,954
Total net revenues |  | 3,744,512 |  | 3,200,583 |  | 3,476,495
​

X
- References No definition available. + Details
Name: | us-gaap_SegmentReportingAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8924-108599 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8981-108599 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8721-108599 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9031-108599 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (f) -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8844-108599 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9038-108599 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8736-108599 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9054-108599 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 15 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8657-108599 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8721-108599 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI http://asc.fasb.org/topic&trid=2134510 + Details
Name: | us-gaap_SegmentReportingDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration