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EQUITY INVESTMENTS (Tables) | 12 Months Ended
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Jan. 02, 2022
Equity Method Investments and Joint Ventures [Abstract] |
Equity Method Investments | The summarized financial information as of January 2, 2022 and January 3, 2021 and for the fiscal years ended 2021 and 2020 is as follows:
| As of
(In thousands) | January 2, 2022 |  | January 3, 2021
Current assets | $ | 581,048 |  |  | $ | 372,320 |
Non-current assets | 524,831 |  |  | 300,205 |
Current liabilities | 323,664 |  |  | 232,571 |
Non-current liabilities | 321,557 |  |  | 126,648 |
Non-controlling interest | 402,526 |  |  | 197,270 |
| Fiscal Year Ended
(In thousands) | 2021 |  | 2020
Revenue | $ | 1,018,731 |  |  | $ | 419,582 |
Gross profit | 25,204 |  |  | 28,108 |
Loss from operations | (27,427) |  |  | (10,013) |
Net loss | (126,338) |  |  | (13,386) |
Net loss attributable to Huansheng JV | (95,939) |  |  | (14,599) |
Schedule of Related Party Transactions | The below table summarizes our transactions with SunPower subsequent to the Spin-off, in relation to these agreements:
| Fiscal Year Ended
(In thousands) | January 2, 2022 |  | January 3, 2021
Charges from product collaboration agreement | $ | 32,887 |  |  | $ | 10,846 |
Net charges from transition services agreement | 5,217 |  |  | 6,229 |
We had the following balances related to transactions with SunPower as of January 2, 2022 and January 3, 2021:
| As of
(In thousands) | January 2, 2022 |  | January 3, 2021
Accounts receivable | $ | 3,959 |  |  | $ | 31,967 |
Prepaid expenses and other current assets | 13,979 |  |  | 9,665 |
Other receivables, non-current | 1,458 |  |  | 1,458 |
Accounts payable | 2,315 |  |  | 901 |
Accrued liabilities (Note 6) | 8,361 |  |  | 7,942 |
The following related party balances and amounts are associated with transactions entered into with TotalEnergies and its affiliates:
| As of
(In thousands) | January 2, 2022 |  | January 3, 2021
Accounts receivable | $ | 821 |  |  | $ | 1,273 |
Accounts payable(1) | — |  |  | 3,100 |
Contract liabilities, current portion(2) | 31,069 |  |  | 9,405 |
Contract liabilities, net of current portion(2) | 23,840 |  |  | 33,066 |
Refund liabilities (Note 6) | 22,566 |  |  | — |
(1)In connection with obtaining solar module supplies related to one solar project, we incurred charges of $3.1 million, that was paid directly to TotalEnergies in fiscal year 2021. (2)Refer to Note 9. Commitments and Contingencies—Advances from Customers.
| Fiscal Year Ended
(In thousands) | January 2, 2022 |  | January 3, 2021 |  | December 29, 2019
Revenue | $ | 14,733 |  |  | $ | 73,599 |  |  | $ | 33,371 |
Interest expense incurred on the 4.00% debentures acquired by Total(1) | — |  |  | 2,667 |  |  | 4,000 |
(1)Represents TotalEnergies share of the 4.00% debentures issued by SunPower in December 2015. The proceeds were used to finance our solar cell manufacturing facility in the Philippines which relates to our historical business. As such, the related interest expense was reflected in the Consolidated and Combined Statements of Operations prior to Spin-off. The related obligation on the 4.00% debentures were not transferred to us as part of the Spin-off. Related-party transactions with Huansheng JV are as follows:
| As of
(In thousands) | January 2, 2022 |  | January 3, 2021
Accounts payable | $ | 64,498 |  |  | $ | 40,420 |
| Fiscal Year Ended
(In thousands) | January 2, 2022 |  | January 3, 2021
Payments made to investee for products/services | $ | 140,610 |  |  | $ | 267,247 |
Debt Securities, Trading, and Equity Securities, FV-NI |
| As of
(In thousands) | January 2, 2022 |  | January 3, 2021
Equity method investment | $ | 11,230 |  |  | $ | 25,707 |
Equity investments without readily determinable fair value | 4,000 |  |  | 4,000 |
Total equity investments | $ | 15,230 |  |  | $ | 29,707 |

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- Definition Tabular disclosure of equity method investments including, but not limited to, name of each investee or group of investments, percentage ownership, difference between recorded amount of an investment and the value of the underlying equity in the net assets, and summarized financial information. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 323 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=114001798&loc=d3e33918-111571 + Details
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