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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Operating activities:      
Net income $ 298,555 $ 109,876 $ 147,246
Adjustments to net income:      
Depreciation and amortization 234,559 282,769 209,118
Accretion of convertible notes 1,302 1,461 388
Loss (gain) on disposal of property, plant and equipment (4,259) 83 (253)
Gain on disposal of solar power systems   (10,091)  
Gain on disposal of investments in affiliates   (10,392) (13,936)
Impairment loss of property, plant and equipment 60,330 6,084 11,854
Impairment loss of project assets 1,674 17,152 369
Impairment loss of investments in affiliates 357 0 24,060
Loss (gain) on change in fair value of derivatives, net 44,489 (23,785) (50,001)
Equity in earnings of affiliates (15,440) (7,256) (10,779)
Allowance for credit losses 5,773 7,615 9,874
Non-cash operating lease expenses 13,208 14,321 19,260
Write-down of inventories 7,475 14,070 42,907
Share-based compensation 9,370 8,808 12,350
Unrealized gain (loss) from sales to affiliates 5,971 35,890 (66)
Derecognition of interest rate swap     4,439
Deferred taxes 16,908 (67,386) (21,439)
Changes in operating assets and liabilities:      
Accounts receivable trade (357,276) (284,785) 65,379
Accounts receivable, unbilled (23,367) (8,783) (12,064)
Amounts due from related parties (4,451) (68,912) 26,828
Inventories (406,343) (518,741) (180,974)
Value added tax recoverable (43,881) (21,873) 2,687
Advances to suppliers (52,893) (30,416) (138,915)
Project assets (302,839) (73,375) (443,730)
Prepaid expenses and other current assets 151,663 (85,754) (72,188)
Other non-current assets (17,350) 20,357 (11,913)
Accounts payable 351,535 11,023 (89,180)
Short-term notes payable 721,039 150,982 120,445
Amounts due to related parties (54) (171) (9,773)
Other payables (417) 126,215 10,386
Advances from customers 209,855 (53,998) 51,683
Operating lease liabilities (14,160) (14,156) (18,917)
Other liabilities 68,492 51,248 160,768
Liability for uncertain tax positions (1,718) (7,281) (623)
Net settlement of derivatives (31,851) 31,886 33,054
Loss contingency accruals (9,625) (10,939) 1,115
Net cash provided by (used in) operating activities 916,631 (408,254) (120,541)
Investing activities:      
Investments in affiliates (19,355) (54,004) (17,758)
Return of capital from affiliates 7,083 2,671  
Proceeds from disposal of investments in affiliates   14,311 33,037
Purchase of property, plant and equipment (627,115) (428,725) (334,781)
Proceeds from disposal of property, plant and equipment 7,479 18,555  
Purchase of solar power systems (882) (775) (160)
Proceeds from disposal of solar power systems 2,302 18,397  
Net cash used in investing activities (630,488) (429,570) (319,662)
Financing activities:      
Proceeds from short-term borrowings 1,387,537 1,742,064 1,667,703
Repayment of short-term borrowings (1,695,563) (1,879,884) (1,561,597)
Proceeds from long-term borrowings 770,368 588,082 207,632
Acquisition of non-controlling interests   (10,719)  
Proceeds from non-controlling interests 15,109 10,003 261,332
Repayment to non-controlling interests   (6,588)  
Net proceeds from issuance of common shares   148,510  
Proceeds from (repayment of) third party financing liabilities (29,595)   6,419
Proceeds from sales-leaseback arrangement   45,693 9,945
Repayments of finance lease obligation (19,217) (23,090) (22,173)
Net proceeds from issuance of convertible notes     222,826
Proceeds from subscription of employee stock ownership plan     36,342
Proceeds from exercise of stock options     1,035
Payments for repurchase of common shares     (5,963)
Net cash provided by financing activities 428,639 614,071 823,501
Effect of exchange rate changes (179,561) 18,320 50,997
Net increase (decrease) in cash, cash equivalents and restricted cash 535,221 (205,433) 434,295
Cash, cash equivalents and restricted cash at the beginning of the year 1,434,282 1,639,715 1,205,420
Cash, cash equivalents and restricted cash at the end of the year 1,969,503 1,434,282 1,639,715
Supplemental disclosure of cash flow information:      
Interest paid (net of amounts capitalized) 76,511 71,006 78,747
Income taxes paid, net of tax refund 77,400 57,396 38,193
Supplemental schedule of non-cash activities:      
Property, plant and equipment costs included in other payables $ 549,883 $ 299,664 $ 244,512