XML 16 R2.htm IDEA: XBRL DOCUMENT v3.24.1.u1
CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Dec. 31, 2023
Dec. 31, 2022
Current assets:    
Cash and cash equivalents $ 1,938,689 $ 981,434
Restricted cash 999,933 978,116
Accounts receivable trade, net 904,943 970,950
Accounts receivable, unbilled 101,435 57,770
Inventories 1,179,641 1,524,095
Value added tax recoverable 162,737 158,773
Advances to suppliers, net 193,818 253,484
Derivative assets 9,282 17,516
Project assets 280,793 385,964
Prepaid expenses and other current assets 283,600 267,941
Total current assets 6,095,453 5,644,657
Restricted cash 7,810 9,953
Property, plant and equipment, net 3,088,442 1,826,643
Solar power systems, net 951,513 364,816
Deferred tax assets, net 263,458 229,226
Advances to suppliers, net 132,218 65,352
Investments in affiliates 236,928 115,784
Intangible assets, net 19,727 17,530
Project assets 576,793 438,529
Right-of-use assets 237,007 103,600
Amounts due from related parties 32,313 33,489
Other non-current assets 254,098 187,549
TOTAL ASSETS 11,895,760 9,037,128
Current liabilities:    
Short-term borrowings 1,805,198 1,443,816
Accounts payable 813,677 805,300
Short-term notes payable 878,285 1,493,399
Other payables 1,359,679 853,040
Advances from customers 392,308 334,943
Derivative liabilities 6,702 25,359
Operating lease liabilities 20,204 9,810
Total current liabilities 5,864,391 5,258,768
Long-term borrowings 1,265,965 813,406
Green bonds and convertible notes 389,033 257,615
Liability for uncertain tax positions 5,701 5,730
Deferred tax liabilities 82,828 66,630
Operating lease liabilities 116,846 25,714
Other non-current liabilities 465,752 302,571
TOTAL LIABILITIES 8,190,516 6,730,434
Commitments and contingencies (Note 21)
Equity:    
Common shares - no par value: unlimited authorized shares, 64,506,055 and 66,158,741 shares issued and outstanding at December 31, 2022 and 2023, respectively 835,543 835,543
Additional paid-in capital 292,737 1,127
Retained earnings 1,549,707 1,275,520
Accumulated other comprehensive loss (118,744) (170,551)
Total Canadian Solar Inc. shareholders' equity 2,559,243 1,941,639
Non-controlling interests 1,146,001 365,055
TOTAL EQUITY 3,705,244 2,306,694
TOTAL LIABILITIES AND EQUITY 11,895,760 9,037,128
Related party    
Current assets:    
Amounts due from related parties 40,582 48,614
Current liabilities:    
Other current liabilities 511 89
Non-related party    
Current liabilities:    
Other current liabilities $ 587,827 $ 293,012