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INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2020

INCOME TAXES

Schedule of provision for income taxes

​

​	​	​	​	​	​	​
​	​	Years Ended December 31,
​		2018		2019		2020
​	​	$	​	$	​	$
Income (loss) before income taxes	​	​	​	​	​	​
Canada		10,570		(61,880)		(31,896)
United States	​	61,377	​	8,319	​	(113,262)
PRC including Hong Kong and Taiwan	​	178,050	​	204,632	​	189,398
Japan	​	27,555	​	29,335	​	50,642
Other		26,848		28,215		50,381
​		304,400		208,621		145,263
Current tax expense (benefit)	​	​	​	​	​	​
Canada		(1,846)		(3,420)		36,226
United States	​	(14,786)	​	(4,803)	​	(71,421)
PRC including Hong Kong and Taiwan	​	27,285	​	44,622	​	30,276
Japan	​	5,325	​	13,229	​	18,941
Other		2,397		7,057		8,233
​		18,375		56,685		22,255
Deferred tax expense (benefit)	​	​	​	​	​	​
Canada		12,117		(6,558)		(10,792)
United States	​	32,696	​	(2,412)	​	23,173
PRC including Hong Kong and Taiwan	​	2,653	​	(5,333)	​	(17,998)
Japan	​	(3,381)	​	(2,953)	​	(10,571)
Other		(491)		2,637		(8,050)
​		43,594		(14,619)		(24,238)
Total income tax expense (benefit)	​	​	​	​	​	​
Canada		10,271		(9,978)		25,434
United States	​	17,910	​	(7,215)	​	(48,248)
PRC including Hong Kong and Taiwan	​	29,938	​	39,289	​	12,278
Japan	​	1,944	​	10,276	​	8,370
Other		1,906		9,694		183
​		61,969		42,066		(1,983)

Schedule of movement and balance of the Company's liability for uncertain tax positions (excluding interest and penalties)

​

​	​	​	​	​	​	​
​	​	Years Ended December 31,
​		2018		2019		2020
​	​	$	​	$	​	$
Beginning balance		6,181		15,730		10,557
Addition for tax positions related to the current year		9,806		11		—
Reductions for tax positions from prior years/Statute of limitations expirations		—		(5,720)		(1,011)
Foreign exchange effect	​	(257)	​	536	​	82
Ending balance		15,730		10,557		9,628

Schedule of components of the deferred tax assets and liabilities

​

​	​	​	​	​
​		At December 31,		At December 31,
​	​	2019	​	2020
​	​	$	​	$
Deferred tax assets:	​	​	​	​
Accrued warranty costs		8,326		8,699
Bad debt allowance		10,324		3,218
Inventory write-down		1,128		3,121
Future deductible expenses	​	20,731	​	24,454
Depreciation and impairment difference of property, plant and equipment and solar power systems		23,380		30,138
Accrued liabilities related to antidumping, countervailing and other duty costs and true-up charges		496		406
Government subsidies	​	8,927	​	16,461
Net operating losses carry-forward		112,710		85,850
Unrealized foreign exchange loss and capital loss	​	7,064	​	1,221
Interest limitation	​	2,767	​	1,956
Others		26,415		30,958
Total deferred tax assets, gross		222,268		206,482
Valuation allowance		(70,627)		(50,118)
Total deferred tax assets, net of valuation allowance		151,641		156,364
​	​	​	​	​
Deferred tax liabilities:	​	​	​	​
Derivative assets		217		996
Depreciation difference of property, plant and equipment		18,789		17,027
Insurance recoverable	​	15,771	​	785
Unrealized foreign exchange gain		10,984	​	10,746
Others		8,380		5,234
Total deferred tax liabilities		54,141		34,788
Net deferred tax assets	​	97,500	​	121,576
Analysis as:	​	​	​	​
Deferred tax assets	​	153,963	​	170,656
Deferred tax liabilities		(56,463)		(49,080)
Net deferred tax assets		97,500		121,576

Schedule of movement of the valuation allowance

​

​	​	​	​	​	​	​
​	​	Years Ended December 31,
​		2018		2019		2020
​	​	$	​	$	​	$
Beginning balance		65,399		76,522		70,627
Additions (reversals)		11,051		(6,156)		(21,585)
Foreign exchange effect		72		261		1,076
Ending balance		76,522		70,627		50,118

Schedule of reconciliation between the provision for income tax computed by applying Canadian federal and provincial statutory tax rates to income before income taxes and the actual provision and benefit for income taxes

​

​	​	​	​	​	​	​	​
​	​	Years Ended December 31,
​		2018		2019		2020
Combined federal and provincial income tax rate		27	%	27	%	27	%
Effect of permanent difference	​	(11)	%	(1)	%	4	%
Effect of different tax rate on earnings in other jurisdictions	​	—	%	3	%	(6)	%
Effect of tax holiday	​	(1)	%	(4)	%	(1)	%
Unrecognized tax provision	​	4	%	(3)	%	(13)	%
Change in valuation allowance	​	7	%	(3)	%	(14)	%
Effect of change in tax rate	​	(3)	%	(1)	%	2	%
Others	​	(3)	%	2	%	—	%
​	​	20	%	20	%	(1)	%

Schedule of aggregate amount and per share effect of the tax holiday

​

​	​	​	​	​	​	​
​	​	Years Ended December 31,
​		2018		2019		2020
​	​	(In Thousands of U.S. Dollars, except per share data)
The aggregate amount		3,089		7,956		1,287
Per share — basic		0.05		0.13		0.02
Per share — diluted		0.05		0.13		0.02

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Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years.

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Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets.

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Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations.

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Tabular disclosure of the change in unrecognized tax benefits.

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Tabular disclosure of the income tax exemptions and reductions which have been granted by taxing authorities for a specified period, applicable term of the exemptions and reductions, estimated dollar value of tax benefits, and per share benefits.

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Tabular disclosure of valuation allowances to reduce deferred tax assets to net realizable value, including identification of the deferred tax asset more likely than not will not be fully realized and the corresponding amount of the valuation allowance.

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