XML 43 R32.htm IDEA: XBRL DOCUMENT
v3.22.2.2

SEGMENT INFORMATION | 12 Months Ended
--- | ---
Dec. 31, 2021
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., Ltd., in China. From November 2021, the Company completed the transfer of the China solar power system and project assets from CSI Solar to the Global Energy segment to avoid any potential competition between the Company and its CSI Solar subsidiary, as part of the CSI Solar carve-out listing process. 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, the Company reports its financial performance, including revenue, gross profit and income from operations, based on the following two reportable segments: ​
| ● | Global Energy, which includes all of the Company’s global project development activities for both solar and battery storage project development. The Global Energy segment develops both stand-alone solar and stand-alone battery storage projects, as well as hybrid solar plus storage projects. Its monetization strategies vary between develop-to-sell, build-to-sell, and build-to-own, depending on business strategies and market conditions, with the goal of maximizing returns, accelerating cash turn, and minimizing capital risk.
​
| ● | CSI Solar, which consists of solar module manufacturing and total system solutions, including inverters, solar system kits and EPC (engineering, procurement and construction) services. The CSI Solar segment also includes the Company’s battery storage integration business, delivering bankable, end-to-end, turnkey battery storage solutions for utility scale, commercial and industrial, and residential applications. These storage systems solutions are complemented with long-term service agreements, including future battery capacity augmentation services.
​ The distinction of the two battery storage businesses is that the former, Global Energy, is in the project development business, including sourcing land, interconnection, structuring power purchase agreements and other permits and requirements for battery storage projects, whereas the latter, CSI Solar, is in the system integration business, delivering turnkey battery storage technology solutions. ​ The module and EPC 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 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, 2021
​ | ​ | ​ | ​ | ​ | ​ | Elimination | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | and | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | unallocated | ​ | ​
​ |  | CSI Solar |  | Global Energy |  | items (1) |  | Total
​ | ​ | $ | ​ | $ | ​ | $ | ​ | $
Net revenues |  | 4,371,603 |  | 1,124,083 | ​ | (218,517) | ​ | 5,277,169
Cost of revenues |  | 3,689,126 |  | 930,099 | ​ | (251,368) | ​ | 4,367,857
Gross profit |  | 682,477 |  | 193,984 | ​ | 32,851 | ​ | 909,312
Income from operations (2) | ​ | 74,132 | ​ | 97,179 | ​ | 19,070 | ​ | 190,381
​ ​ 22. SEGMENT INFORMATION (Continued)
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | 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 (2) | ​ | 253,105 | ​ | 53,414 | ​ | (86,089) | ​ | 220,430
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | 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 (2) | ​ | 267,642 | ​ | 18,795 | ​ | (27,558) | ​ | 258,879
(1) | Includes inter-segment elimination, and unallocated corporate costs not considered part of management’s evaluation of reportable segment operating performance.
(2) | Income from operations reflects management’s allocation and estimate as some services are shared by the Company’s two reportable 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,
​ |  | 2019 |  | 2020 |  | 2021
​ | ​ | $ | ​ | $ | ​ | $
The Americas: | ​ | ​ | ​ | ​ | ​ | ​
—United States | ​ | 852,231 | ​ | 696,101 | ​ | 1,590,573
—Brazil |  | 395,303 |  | 284,478 |  | 442,603
—Mexico |  | 94,446 |  | 118,846 |  | 139,611
—Canada |  | 30,330 |  | 100,284 |  | 30,792
—Others | ​ | 29,731 | ​ | 21,396 | ​ | 76,015
​ |  | 1,402,041 |  | 1,221,105 |  | 2,279,594
Asia: | ​ | ​ | ​ | ​ | ​ | ​
—PRC |  | 317,077 |  | 504,656 |  | 1,207,003
—Japan | ​ | 372,687 | ​ | 560,701 | ​ | 509,233
—India |  | 70,893 |  | 61,141 |  | 142,300
—Thailand | ​ | 12,753 | ​ | 6,108 | ​ | 59,451
—Cyprus |  | 2,175 |  | 13,265 |  | 51,038
—Pakistan |  | 10,581 |  | 15,417 |  | 48,838
—Vietnam | ​ | 39,268 | ​ | 289,621 | ​ | 19,956
—United Arab Emirates |  | 43,311 |  | 53,981 |  | 6,168
—Korea |  | 72,552 |  | 25,896 |  | 3,413
—Others | ​ | 76,786 | ​ | 90,054 | ​ | 91,670
​ | ​ | 1,018,083 | ​ | 1,620,840 | ​ | 2,139,070
Europe and other regions: | ​ | ​ | ​ | ​ | ​ | ​
—Germany |  | 109,119 |  | 119,035 |  | 231,995
—Australia | ​ | 313,167 | ​ | 120,403 | ​ | 165,772
—Netherlands | ​ | 68,770 | ​ | 96,372 | ​ | 104,715
—Spain | ​ | 78,228 | ​ | 138,972 | ​ | 100,658
—South Africa | ​ | 93,911 | ​ | 49,375 | ​ | 90,761
—Czech | ​ | 17,717 | ​ | 16,144 | ​ | 34,604
—France |  | 13,516 |  | 29,974 |  | 25,980
—United Kingdom |  | 33,158 |  | 8,842 |  | 7,749
—Others |  | 52,873 |  | 55,433 |  | 96,271
​ | ​ | 780,459 | ​ | 634,550 | ​ | 858,505
Total net revenues | ​ | 3,200,583 | ​ | 3,476,495 | ​ | 5,277,169
​ ​ 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, 2020 and 2021 by geographic region, based on the physical location of the assets: ​
​ | ​ | ​ | ​ | ​
​ |  | At December 31, |  | At December 31,
​ | ​ | 2020 | ​ | 2021
​ | ​ | $ | ​ | $
PRC |  | 1,002,409 |  | 1,230,613
Thailand | ​ | 295,240 | ​ | 266,870
Japan | ​ | 204,515 | ​ | 191,680
Argentina | ​ | 64,208 | ​ | 68,508
Mexico | ​ | 12,388 | ​ | 68,331
United States | ​ | 64,009 | ​ | 65,700
Brazil | ​ | 16,109 | ​ | 63,716
Australia | ​ | 76,330 | ​ | 15,024
Canada |  | 8,898 |  | 7,050
Others |  | 46,432 |  | 55,905
Total long-lived assets |  | 1,790,538 |  | 2,033,397
​ The following table summarizes the Company’s revenues generated from each product or service: ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Years Ended December 31,
​ |  | 2019 |  | 2020 |  | 2021
​ | ​ | $ | ​ | $ | ​ | $
CSI Solar: | ​ | ​ | ​ | ​ | ​ | ​
Solar modules |  | 2,012,059 |  | 2,348,724 |  | 3,328,301
Solar system kits |  | 116,449 |  | 157,656 |  | 302,133
Battery storage solutions | ​ | — | ​ | 7,899 | ​ | 222,655
China energy/EPC (includes electricity sales) | ​ | 58,096 | ​ | 175,388 | ​ | 178,830
Others | ​ | 295,244 | ​ | 60,661 | ​ | 121,167
Global Energy: | ​ | ​ | ​ | ​ | ​ | ​
Solar and battery storage projects |  | 652,050 |  | 654,827 |  | 1,064,178
O&M and asset management services | ​ | 19,750 | ​ | 26,386 | ​ | 35,334
Others (includes electricity sales) |  | 46,935 |  | 44,954 |  | 24,571
Total net revenues |  | 3,200,583 |  | 3,476,495 |  | 5,277,169
​

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 https://asc.fasb.org/extlink&oid=126901519&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 https://asc.fasb.org/extlink&oid=126901519&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 https://asc.fasb.org/extlink&oid=126901519&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 https://asc.fasb.org/extlink&oid=126901519&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 https://asc.fasb.org/extlink&oid=126901519&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 https://asc.fasb.org/extlink&oid=126901519&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 https://asc.fasb.org/extlink&oid=126901519&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 https://asc.fasb.org/extlink&oid=126901519&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 https://asc.fasb.org/extlink&oid=126901519&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 https://asc.fasb.org/extlink&oid=126901519&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 https://asc.fasb.org/extlink&oid=126901519&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 https://asc.fasb.org/extlink&oid=126901519&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 https://asc.fasb.org/extlink&oid=126901519&loc=d3e8721-108599 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI https://asc.fasb.org/topic&trid=2134510 + Details
Name: | us-gaap_SegmentReportingDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration