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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Dec. 31, 2020
Dec. 31, 2019
Current assets:    
Cash and cash equivalents $ 1,178,752 $ 668,770
Restricted cash 458,334 526,723
Accounts receivable trade, net of allowance of $29,545 and $40,293 as of December 31, 2019 and 2020, respectively 408,958 436,815
Accounts receivable, unbilled 28,461 15,256
Amounts due from related parties 5,834 31,232
Inventories 695,981 554,070
Value added tax recoverable 102,460 108,920
Advances to suppliers-current, net of allowance of $7,222 and $5,845 as of December 31, 2019 and 2020, respectively 182,146 47,978
Derivative assets 23,351 5,547
Project assets 747,764 604,083
Prepaid expenses and other current assets 353,781 253,542
Total current assets 4,185,822 3,252,936
Restricted cash 2,629 9,927
Property, plant and equipment, net 1,157,731 1,046,035
Solar power systems, net 158,262 52,957
Deferred tax assets 170,656 153,963
Advances to suppliers, net of allowance of $13,059 and $13,855 as of December 31, 2019 and 2020, respectively 97,173 40,897
Prepaid land use rights 62,414 60,836
Investments in affiliates 78,291 152,828
Intangible assets, net 22,429 22,791
Project assets 389,702 483,051
Right-of-use assets 26,793 37,733
Other non-current assets 184,952 153,253
TOTAL ASSETS 6,536,854 5,467,207
Current liabilities:    
Short-term borrowings 1,202,285 933,120
Long-term borrowings on project assets - current 198,794 286,173
Accounts payable 514,742 585,601
Short-term notes payable 710,636 544,991
Amounts due to related parties 314 10,077
Other payables 508,839 446,454
Advances from customers 189,470 134,806
Derivative liabilities 10,755 10,481
Operating lease liabilities 15,204 18,767
Other current liabilities 237,316 121,527
Total current liabilities 3,588,355 3,091,997
Accrued warranty costs 37,732 55,878
Long-term borrowings 446,090 619,477
Convertible notes 223,214  
Derivative liabilities   1,841
Liability for uncertain tax positions 14,729 15,353
Deferred tax liabilities 49,080 56,463
Loss contingency accruals 26,458 28,513
Operating lease liabilities 13,232 20,718
Financing liabilities 81,871 76,575
Other non-current liabilities 163,308 75,334
TOTAL LIABILITIES 4,644,069 4,042,149
Commitments and contingencies (Note 21)
Equity:    
Common shares - no par value: unlimited authorized shares, 59,371,684 and 59,820,384 shares issued and outstanding at December 31, 2019 and 2020, respectively 687,033 703,806
Treasury stock, at cost, 609,516 and nil common shares as of December 31, 2019 and 2020, respectively   (11,845)
Additional paid-in capital (28,236) 17,179
Retained earnings 940,304 793,601
Accumulated other comprehensive loss (28,679) (109,607)
Total Canadian Solar Inc. shareholders' equity 1,570,422 1,393,134
Non-controlling interests in subsidiaries 322,363 31,924
TOTAL EQUITY 1,892,785 1,425,058
TOTAL LIABILITIES AND EQUITY $ 6,536,854 $ 5,467,207