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EQUITY INVESTMENTS (Tables)
 12 Months Ended
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, 2022January 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)20212020
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, 2022January 3, 2021
Charges from product collaboration agreement$32,887 $10,846 
Net charges from transition services agreement5,217 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, 2022January 3, 2021
Accounts receivable$3,959 $31,967 
Prepaid expenses and other current assets13,979 9,665 
Other receivables, non-current1,458 1,458 
Accounts payable2,315 901 
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, 2022January 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, 2022January 3, 2021December 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, 2022January 3, 2021
Accounts payable$64,498 $40,420 
Fiscal Year Ended
(In thousands)January 2, 2022January 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, 2022January 3, 2021
Equity method investment
$11,230 $25,707 
Equity investments without readily determinable fair value4,000 4,000 
Total equity investments$15,230 $29,707