First Solar (FSLR) 10-Q30 Apr 212021 Q1 Quarterly reportFinancial data

Company Profile

Document

Document - shares	3 Months Ended
Document - shares	Mar. 31, 2021	Apr. 23, 2021
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2021
Document Transition Report	false
Entity File Number	001-33156
Entity Registrant Name	First Solar, Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	20-4623678
Entity Address, Address Line One	350 West Washington Street, Suite 600
Entity Address, City or Town	Tempe
Entity Address, State or Province	AZ
Entity Address, Postal Zip Code	85281
City Area Code	602
Local Phone Number	414-9300
Title of 12(b) Security	Common stock, $0.001 par value
Trading Symbol	FSLR
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		106,311,829
Entity Central Index Key	0001274494
Amendment Flag	false
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q1
Current Fiscal Year End Date	--12-31

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Net sales	$ 803,374	$ 532,124
Cost of sales	618,607	441,786
Gross profit	184,767	90,338
Operating expenses:
Selling, general and administrative	52,087	58,587
Research and development	19,873	25,613
Production start-up	11,354	4,482
Total operating expenses	83,314	88,682
Gain on sales of businesses, net	150,895	0
Operating income	252,348	1,656
Foreign currency loss, net	(2,595)	(398)
Interest income	956	9,330
Interest expense, net	(2,996)	(6,789)
Other income (expense), net	8,448	(2,222)
Income before taxes and equity in earnings	256,161	1,577
Income tax (expense) benefit	(46,490)	89,215
Equity in earnings, net of tax	0	(88)
Net income	$ 209,671	$ 90,704
Net income per share:
Basic	$ 1.98	$ 0.86
Diluted	$ 1.96	$ 0.85
Weighted-average number of shares used in per share calculations:
Basic	106,088	105,595
Diluted	106,890	106,386

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Net income	$ 209,671	$ 90,704
Other comprehensive income, net of tax:
Foreign currency translation adjustments	(9,716)	(8,064)
Unrealized (loss) gain on marketable securities and restricted marketable securities, net of tax of $1,121, and $389	(16,590)	2,852
Unrealized gain on derivative instruments, net of tax of $(637), and $(79)	3,382	896
Other comprehensive loss	(22,924)	(4,316)
Comprehensive income	186,747	86,388
Supplemental Income Statement Elements [Abstract]
Unrealized (loss) gain on marketable securities and restricted marketable securities, tax	1,121	389
Unrealized gain on derivative instruments, tax	$ (637)	$ (79)

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Current assets:
Cash and cash equivalents	$ 972,879	$ 1,227,002
Marketable securities (amortized cost of $562,880 and $519,844 and allowance for credit losses of $138 and $121 at March 31, 2021 and December 31, 2020, respectively)	562,735	520,066
Accounts receivable trade	795,923	269,095
Accounts Receivable Trade, Allowance for credit losses	(5,827)	(3,009)
Accounts receivable trade, net	790,096	266,086
Accounts receivable, unbilled	27,280	26,673
Accounts receivable, unbilled, allowance for credit losses	(276)	(303)
Accounts receivable, unbilled, net	27,004	26,370
Inventories	550,270	567,587
Project assets	6,984	0
Assets held for sale	0	155,685
Prepaid expenses and other current assets	226,922	251,739
Total current assets	3,136,890	3,014,535
Property, plant and equipment, net	2,397,986	2,402,285
PV solar power systems, net	236,416	243,396
Project assets	284,201	373,377
Deferred tax assets, net	106,803	104,099
Restricted marketable securities (amortized cost of $247,628 and allowance for credit losses of $13 at December 31, 2020)	0	265,280
Goodwill	14,462	14,462
Intangibles assets, net	53,404	56,138
Inventories	205,096	201,229
Other assets	673,652	434,130
Total assets	7,108,910	7,108,931
Current liabilities:
Accounts payable	186,087	183,349
Income taxes payable	15,351	14,571
Accrued expenses	217,483	310,467
Current portion of long-term debt	2,453	41,540
Deferred revenue	206,530	188,813
Liabilities held for sale	0	25,621
Other current liabilities	41,437	83,037
Total current liabilities	669,341	847,398
Accrued solar module collection and recycling liability	128,135	130,688
Long-term debt	254,447	237,691
Other liabilities	362,207	372,226
Total liabilities	1,414,130	1,588,003
Commitments and contingencies
Stockholders' equity:
Common stock, $0.001 par value per share; 500,000,000 shares authorized; 106,310,928 and 105,980,466 shares issued and outstanding at March 31, 2021 and December 31, 2020, respectively	106	106
Additional paid-in capital	2,853,891	2,866,786
Accumulated earnings	2,925,433	2,715,762
Accumulated other comprehensive loss	(84,650)	(61,726)
Total stockholders' equity	5,694,780	5,520,928
Total liabilities and stockholders' equity	$ 7,108,910	$ 7,108,931

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Common Stock, Par or Stated Value Per Share	$ 0.001	$ 0.001
Common Stock, Shares Authorized	500,000,000	500,000,000
Common Stock, Shares Issued	106,310,928	105,980,466
Common Stock, Shares Outstanding	106,310,928	105,980,466
Marketable securities, Amortized Cost	$ 562,880	$ 519,844
Marketable Securities, Allowance for Credit Loss	138	121
Restricted Debt Securities [Member]
Marketable securities, Amortized Cost	0	247,628
Marketable Securities, Allowance for Credit Loss	$ 0	$ 13

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Stockholders' Equity Statement - USD ($) $ in Thousands	Total	Cumulative effect adjustment for the adoption of ASU 2016-13	Common Stock [Member]	Additional Paid-in Capital [Member]	Accumulated Earnings [Member]	Accumulated Earnings [Member]Cumulative effect adjustment for the adoption of ASU 2016-13	Accumulated Other Comprehensive (Loss) Income [Member]
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest \| Accounting Standards Update 2016-13		$ (9,213)				$ (9,213)
Common stock, shares, beginning balance at Dec. 31, 2019			105,449,000
Stockholders' equity, beginning balance at Dec. 31, 2019	$ 5,096,767		$ 105	$ 2,849,376	$ 2,326,620		$ (79,334)
Net income	90,704				90,704
Other comprehensive loss	(4,316)						(4,316)
Common stock issued for share-based compensation, shares			733,000
Common stock issued for share-based compensation	1		$ 1	0
Tax withholding related to vesting of restricted stock, shares			(276,000)
Tax withholding related to vesting of restricted stock	(12,679)		$ 0	(12,679)
Share-based compensation expense	7,358			7,358
Common stock, shares, ending balance at Mar. 31, 2020			105,906,000
Stockholders' equity, ending balance at Mar. 31, 2020	$ 5,168,622		$ 106	2,844,055	2,408,111		(83,650)
Common stock, shares, beginning balance at Dec. 31, 2020	105,980,466		105,980,000
Stockholders' equity, beginning balance at Dec. 31, 2020	$ 5,520,928		$ 106	2,866,786	2,715,762		(61,726)
Net income	209,671				209,671
Other comprehensive loss	(22,924)						(22,924)
Common stock issued for share-based compensation, shares			536,000
Common stock issued for share-based compensation	0		$ 0	0
Tax withholding related to vesting of restricted stock, shares			(205,000)
Tax withholding related to vesting of restricted stock	(15,689)		$ 0	(15,689)
Share-based compensation expense	$ 2,794			2,794
Common stock, shares, ending balance at Mar. 31, 2021	106,310,928		106,311,000
Stockholders' equity, ending balance at Mar. 31, 2021	$ 5,694,780		$ 106	$ 2,853,891	$ 2,925,433		$ (84,650)

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Cash flows from operating activities:
Net income	$ 209,671	$ 90,704
Adjustments to reconcile net income to cash used in operating activities:
Depreciation, amortization and accretion	63,205	56,279
Impairments and net losses on disposal of long-lived assets	4,501	1,288
Share-based compensation	3,115	7,204
Deferred income taxes	(11,538)	(80,404)
Gain on sales of businesses, net	(150,895)	0
Gains on sales of marketable securities and restricted marketable securities	(11,696)	(15,088)
Other, net	1,412	16,676
Changes in operating assets and liabilities:
Accounts receivable, trade and unbilled	(320,461)	242,680
Prepaid expenses and other current assets	(42,750)	(13,387)
Inventories	12,602	(48,896)
Project assets and PV solar power systems	59,623	(50,756)
Other assets	(20,814)	(54,925)
Income tax receivable and payable	33,278	(9,425)
Accounts payable	7,853	(38,161)
Accrued expenses and other liabilities	(115,190)	(609,218)
Accrued solar module collection and recycling liability	(1,394)	565
Net cash used in operating activities	(279,478)	(504,864)
Cash flows from investing activities:
Purchases of property, plant and equipment	(90,155)	(112,546)
Purchases of marketable securities and restricted marketable securities	(292,308)	(405,794)
Proceeds from sales and maturities of marketable securities and restricted marketable securities	508,289	628,936
Proceeds from sales of businesses	145,969	0
Other investing activities	43	(14,150)
Net cash provided by investing activities	271,838	96,446
Cash flows from financing activities:
Repayment of long-term debt	(37,378)	(325)
Proceeds from borrowings under long-term debt, net of discounts and issuance costs	21,616	0
Payments of tax withholdings for restricted shares	(15,689)	(12,679)
Other financing activities	0	(436)
Net cash used in financing activities	(31,451)	(13,440)
Effect of exchange rate changes on cash, cash equivalents and restricted cash	(652)	(5,774)
Net decrease in cash, cash equivalents and restricted cash	(39,743)	(427,632)
Cash, cash equivalents and restricted cash, beginning of the period	1,273,594	1,446,510
Cash, cash equivalents and restricted cash, end of the period	1,233,851	1,018,878
Supplemental disclosure of noncash investing and financing activities:
Property, plant and equipment acquisitions funded by liabilities	76,095	76,298
Proceeds to be received from sales of businesses	$ 156,965	$ 0

1. Basis of Presentation

1. Basis of Presentation	3 Months Ended
1. Basis of Presentation	Mar. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	1. Basis of Presentation The accompanying unaudited condensed consolidated financial statements of First Solar, Inc. and its subsidiaries in this Quarterly Report have been prepared in accordance with generally accepted accounting principles in the United States of America (“U.S. GAAP”) for interim financial information and pursuant to the instructions to Form 10-Q and Article 10 of Regulation S-X of the Securities and Exchange Commission (the “SEC”). Accordingly, these interim financial statements do not include all of the information and footnotes required by U.S. GAAP for annual financial statements. In the opinion of First Solar management, all adjustments (consisting only of normal recurring adjustments) considered necessary for a fair statement have been included. Certain prior period balances have been reclassified to conform to the current period presentation. The preparation of condensed consolidated financial statements in conformity with U.S. GAAP requires us to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Despite our intention to establish accurate estimates and reasonable assumptions, actual results could differ materially from such estimates and assumptions. Operating results for the three months ended March 31, 2021 are not necessarily indicative of the results that may be expected for the year ending December 31, 2021 or for any other period. The condensed consolidated balance sheet at December 31, 2020 has been derived from the audited consolidated financial statements at that date, but does not include all of the information and footnotes required by U.S. GAAP for complete financial statements. These interim financial statements and notes should be read in conjunction with the audited financial statements and notes thereto for the year ended December 31, 2020 included in our Annual Report on Form 10-K, which has been filed with the SEC. Unless expressly stated or the context otherwise requires, the terms “the Company,” “we,” “us,” “our,” and “First Solar” refer to First Solar, Inc. and its consolidated subsidiaries, and the term “condensed consolidated financial statements” refers to the accompanying unaudited condensed consolidated financial statements contained in this Quarterly Report.

2. Sales of Businesses

2. Sales of Businesses	3 Months Ended
2. Sales of Businesses	Mar. 31, 2021
Discontinued Operations and Disposal Groups [Abstract]
Disposal Groups, Disclosure	2. Sales of Businesses Sale of North American O&M operations Following an evaluation of the long-term cost structure, competitiveness, and risk-adjusted returns of our O&M services business, we received an offer to purchase certain portions of the business and determined it was in the best interest of our stockholders to pursue the transaction. Accordingly, in August 2020, we entered into an agreement with a subsidiary of Clairvest Group, Inc. (“Clairvest”) for the sale of our North American O&M operations. On March 31, 2021, we completed the transaction for a closing purchase price of $151.5 million, subject to certain customary post-closing adjustments, of which $146.0 million was received on March 31, 2021. As a result of this transaction, we recognized a gain of $119.2 million, net of transaction costs, which was included in “Gain on sales of businesses, net” in our condensed consolidated statements of operations. The assets and liabilities associated with this business were classified as held for sale in our condensed consolidated balance sheet as of December 31, 2020. Sale of U.S. project development business Following a separate evaluation of the long-term cost structure, competitiveness, and risk-adjusted returns of our U.S. project development business, we determined it was also in the best interest of our stockholders to pursue the sale of this business. In January 2021, we entered into an agreement with Leeward Renewable Energy Development, LLC (“Leeward”), a subsidiary of the Ontario Municipal Employees Retirement System, for the sale of our U.S. project development business, which included developing, contracting for the construction of, and selling utility-scale PV solar power systems in the United States. The transaction included our approximately 10 GW AC utility-scale solar project pipeline, including the advanced-stage Horizon, Madison, Ridgely, Rabbitbrush, and Oak Trail projects, which are expected to commence construction in the next two years; the 30MW AC Barilla Solar project, which is operational; and certain other equipment. In addition, Leeward agreed to certain module purchase commitments. On March 31, 2021, we completed the transaction for an aggregate purchase price of $284.0 million, subject to certain customary post-closing adjustments. Such purchase price included $151.4 million for the sale of the U.S. project development business; $100.5 million for the sale of 299 MW DC of solar modules, which is presented in “Net sales” on our condensed consolidated statements of operations; and $32.1 million of advanced payments for 93 MW DC of solar modules not yet delivered, which is included in “Deferred revenue” on our condensed consolidated balance sheet as of March 31, 2021. Proceeds from the transaction were received in early April 2021. We recognized a gain of $31.8 million, net of transaction costs, from the sale of our U.S. project development business, which is included in “Gain on sales of businesses, net” in our condensed consolidated statements of operations. The assets and liabilities associated with this business were classified as held for sale in our condensed consolidated balance sheet as of December 31, 2020.

3. Cash, Cash Equivalents, and

3. Cash, Cash Equivalents, and Marketable Securities	3 Months Ended
3. Cash, Cash Equivalents, and Marketable Securities	Mar. 31, 2021
Cash, Cash Equivalents, and Short-term Investments [Abstract]
Cash, Cash Equivalents, and Marketable Securities	3. Cash, Cash Equivalents, and Marketable Securities Cash, cash equivalents, and marketable securities consisted of the following at March 31, 2021 and December 31, 2020 (in thousands): March 31, December 31, Cash and cash equivalents: Cash $ 972,877 $ 1,227,000 Money market funds 2 2 Total cash and cash equivalents 972,879 1,227,002 Marketable securities: Foreign debt 194,101 214,254 U.S. debt 18,764 14,543 Time deposits 349,870 291,269 Total marketable securities 562,735 520,066 Total cash, cash equivalents, and marketable securities $ 1,535,614 $ 1,747,068 The following table provides a reconciliation of cash, cash equivalents, and restricted cash reported within our condensed consolidated balance sheets as of March 31, 2021 and December 31, 2020 to the total of such amounts as presented in the condensed consolidated statements of cash flows (in thousands): Balance Sheet Line Item March 31, December 31, Cash and cash equivalents Cash and cash equivalents $ 972,879 $ 1,227,002 Restricted cash – current Prepaid expenses and other current assets 2,212 1,745 Restricted cash – noncurrent Other assets 258,760 44,847 Total cash, cash equivalents, and restricted cash $ 1,233,851 $ 1,273,594 During the three months ended March 31, 2021, we sold marketable securities for proceeds of $5.5 million and realized gains of less than $0.1 million on such sales. During the three months ended March 31, 2020, we sold marketable securities for proceeds of $130.8 million and realized losses of less than $0.1 million on such sales. See Note 8. “Fair Value Measurements” to our condensed consolidated financial statements for information about the fair value of our marketable securities. The following tables summarize the unrealized gains and losses related to our available-for-sale marketable securities, by major security type, as of March 31, 2021 and December 31, 2020 (in thousands): As of March 31, 2021 Amortized Unrealized Unrealized Allowance for Credit Losses Fair Foreign debt $ 193,860 $ 268 $ 21 $ 6 $ 194,101 U.S. debt 19,020 18 272 2 18,764 Time deposits 350,000 — — 130 349,870 Total $ 562,880 $ 286 $ 293 $ 138 $ 562,735 As of December 31, 2020 Amortized Unrealized Unrealized Allowance for Credit Losses Fair Foreign debt $ 213,949 $ 367 $ 46 $ 16 $ 214,254 U.S. debt 14,521 22 — — 14,543 Time deposits 291,374 — — 105 291,269 Total $ 519,844 $ 389 $ 46 $ 121 $ 520,066 The following table presents the change in the allowance for credit losses related to our available-for-sale marketable securities for the three months ended March 31, 2021 and 2020 (in thousands): Three Months Ended 2021 2020 Allowance for credit losses, beginning of period $ 121 $ — Cumulative-effect adjustment for the adoption of ASU 2016-13 — 207 Provision for credit losses, net 122 180 Sales and maturities of marketable securities (105) (172) Allowance for credit losses, end of period $ 138 $ 215 The contractual maturities of our marketable securities as of March 31, 2021 were as follows (in thousands): Fair One year or less $ 458,537 One year to two years 94,472 Two years to three years — Three years to four years — Four years to five years 4,950 More than five years 4,776 Total $ 562,735

4. Restricted Marketable Securi

4. Restricted Marketable Securities	3 Months Ended
4. Restricted Marketable Securities	Mar. 31, 2021
Debt Securities, Available-for-sale, Restricted [Abstract]
Restricted marketable securities	4. Restricted Marketable Securities Restricted marketable securities consisted of the following as of March 31, 2021 and December 31, 2020 (in thousands): March 31, December 31, Foreign government obligations $ — $ 149,700 U.S. government obligations — 115,580 Total restricted marketable securities $ — $ 265,280 Our restricted marketable securities represent long-term marketable securities held in custodial accounts to fund the estimated future cost of collecting and recycling modules covered under our solar module collection and recycling program. As of March 31, 2021 and December 31, 2020, such custodial accounts also included noncurrent restricted cash balances of $254.7 million and $0.7 million, respectively, which were reported within “Other assets.” As necessary, we fund any incremental amounts for our estimated collection and recycling obligations on an annual basis based on the estimated costs of collecting and recycling covered modules, estimated rates of return on our restricted marketable securities, and an estimated solar module life of 25 years, less amounts already funded in prior years. We have established a trust under which estimated funds are put into custodial accounts with an established and reputable bank, for which First Solar, Inc.; First Solar Malaysia Sdn. Bhd.; and First Solar Manufacturing GmbH are grantors. Trust funds may be disbursed for qualified module collection and recycling costs (including capital and facility related recycling costs), payments to customers for assuming collection and recycling obligations, and reimbursements of any overfunded amounts. Investments in the trust must meet certain investment quality criteria comparable to highly rated government or agency bonds. During the three months ended March 31, 2021, we sold all our restricted marketable securities for proceeds of $258.9 million and realized gains of $11.7 million on such sales. We intend to reinvest such proceeds and continue to evaluate investments that support the estimated costs of our solar module collection and recycling program. During the three months ended March 31, 2020, we sold certain restricted marketable securities for proceeds of $115.2 million, realized gains of $15.1 million on such sales, and repurchased $114.5 million of restricted marketable securities as part of our ongoing management of the custodial accounts. See Note 8. “Fair Value Measurements” to our condensed consolidated financial statements for information about the fair value of our restricted marketable securities. The following table summarizes the unrealized gains and losses related to our restricted marketable securities, by major security type, as of December 31, 2020 (in thousands): As of December 31, 2020 Amortized Unrealized Unrealized Allowance for Credit Losses Fair Foreign government obligations $ 131,980 $ 17,720 $ — $ — $ 149,700 U.S. government obligations 115,648 133 188 13 115,580 Total $ 247,628 $ 17,853 $ 188 $ 13 $ 265,280 The following table presents the change in the allowance for credit losses related to our restricted marketable securities for the three months ended March 31, 2021 and 2020 (in thousands): Three Months Ended 2021 2020 Allowance for credit losses, beginning of period $ 13 $ — Cumulative-effect adjustment for the adoption of ASU 2016-13 — 54 Provision for credit losses, net 16 1 Sales of restricted marketable securities (29) (25) Allowance for credit losses, end of period $ — $ 30

5. Consolidated Balance Sheet D

5. Consolidated Balance Sheet Details	3 Months Ended
5. Consolidated Balance Sheet Details	Mar. 31, 2021
Balance Sheet Related Disclosures [Abstract]
Consolidated Balance Sheet Details	5. Consolidated Balance Sheet Details Accounts receivable trade, net Accounts receivable trade, net consisted of the following at March 31, 2021 and December 31, 2020 (in thousands): March 31, December 31, Accounts receivable trade, gross $ 795,923 $ 269,095 Allowance for credit losses (5,827) (3,009) Accounts receivable trade, net $ 790,096 $ 266,086 At March 31, 2021 and December 31, 2020, $63.6 million and $24.4 million, respectively, of our trade accounts receivable were secured by letters of credit, bank guarantees, surety bonds, or other forms of financial security issued by creditworthy financial institutions. Accounts receivable, unbilled, net Accounts receivable, unbilled, net consisted of the following at March 31, 2021 and December 31, 2020 (in thousands): March 31, December 31, Accounts receivable, unbilled $ 27,280 $ 26,673 Allowance for credit losses (276) (303) Accounts receivable, unbilled, net $ 27,004 $ 26,370 Allowance for credit losses The following tables present the change in the allowances for credit losses related to our accounts receivable for the three months ended March 31, 2021 and 2020 (in thousands): Three Months Ended Accounts receivable, trade 2021 2020 Allowance for credit losses, beginning of period $ 3,009 $ 1,386 Cumulative-effect adjustment for the adoption of ASU 2016-13 — 171 Provision for the credit losses, net 2,915 2,026 Writeoffs (97) (252) Allowance for credit losses, end of period $ 5,827 $ 3,331 Three Months Ended Accounts receivable, unbilled 2021 2020 Allowance for credit losses, beginning of period $ 303 $ — Cumulative-effect adjustment for the adoption of ASU 2016-13 — 459 Provision for credit losses, net (27) 764 Allowance for credit losses, end of period $ 276 $ 1,223 Inventories Inventories consisted of the following at March 31, 2021 and December 31, 2020 (in thousands): March 31, December 31, Raw materials $ 307,883 $ 292,334 Work in process 62,898 64,709 Finished goods 384,585 411,773 Inventories $ 755,366 $ 768,816 Inventories – current $ 550,270 $ 567,587 Inventories – noncurrent $ 205,096 $ 201,229 Prepaid expenses and other current assets Prepaid expenses and other current assets consisted of the following at March 31, 2021 and December 31, 2020 (in thousands): March 31, December 31, Prepaid expenses $ 162,573 $ 160,534 Prepaid income taxes 38,586 71,051 Derivative instruments (1) 7,723 3,315 Restricted cash 2,212 1,745 Other current assets 15,828 15,094 Prepaid expenses and other current assets $ 226,922 $ 251,739 —————————— (1) See Note 6. “Derivative Financial Instruments” to our condensed consolidated financial statements for discussion of our derivative instruments. Property, plant and equipment, net Property, plant and equipment, net consisted of the following at March 31, 2021 and December 31, 2020 (in thousands): March 31, December 31, Land $ 14,362 $ 14,498 Buildings and improvements 692,493 693,762 Machinery and equipment 2,459,941 2,184,236 Office equipment and furniture 143,885 143,685 Leasehold improvements 43,758 41,459 Construction in progress 194,827 419,766 Property, plant and equipment, gross 3,549,266 3,497,406 Accumulated depreciation (1,151,280) (1,095,121) Property, plant and equipment, net $ 2,397,986 $ 2,402,285 Depreciation of property, plant and equipment was $56.8 million and $47.4 million for the three months ended March 31, 2021 and 2020, respectively. PV solar power systems, net Photovoltaic (“PV”) solar power systems, net consisted of the following at March 31, 2021 and December 31, 2020 (in thousands): March 31, December 31, PV solar power systems, gross $ 291,998 $ 298,067 Accumulated depreciation (55,582) (54,671) PV solar power systems, net $ 236,416 $ 243,396 Depreciation of PV solar power systems was $3.0 million and $5.8 million for the three months ended March 31, 2021 and 2020, respectively. Project assets Project assets consisted of the following at March 31, 2021 and December 31, 2020 (in thousands): March 31, December 31, Project assets – development costs, including project acquisition and land costs $ 136,175 $ 176,346 Project assets – construction costs 155,010 197,031 Project assets $ 291,185 $ 373,377 Project assets – current $ 6,984 $ — Project assets – noncurrent $ 284,201 $ 373,377 Other assets Other assets consisted of the following at March 31, 2021 and December 31, 2020 (in thousands): March 31, December 31, Restricted cash $ 258,760 $ 44,847 Operating lease assets (1) 220,689 226,664 Advanced payments for raw materials 95,624 97,883 Accounts receivable, unbilled 53,281 22,722 Indirect tax receivables 17,476 14,849 Other 27,822 27,165 Other assets $ 673,652 $ 434,130 —————————— (1) See Note 7. “Leases” to our condensed consolidated financial statements for discussion of our lease arrangements. Goodwill Goodwill for the relevant reporting unit consisted of the following at March 31, 2021 and December 31, 2020 (in thousands): December 31, Acquisitions (Impairments) March 31, Modules $ 407,827 $ — $ 407,827 Accumulated impairment losses (393,365) — (393,365) Goodwill $ 14,462 $ — $ 14,462 Intangible assets, net The following tables summarize our intangible assets at March 31, 2021 and December 31, 2020 (in thousands): March 31, 2021 Gross Amount Accumulated Amortization Net Amount Developed technology $ 99,964 $ (54,582) $ 45,382 Power purchase agreements 6,486 (1,377) 5,109 Patents 8,173 (5,260) 2,913 Intangible assets, net $ 114,623 $ (61,219) $ 53,404 December 31, 2020 Gross Amount Accumulated Amortization Net Amount Developed technology $ 99,964 $ (52,115) $ 47,849 Power purchase agreements 6,486 (1,296) 5,190 Patents 8,173 (5,074) 3,099 Intangible assets, net $ 114,623 $ (58,485) $ 56,138 Amortization of intangible assets was $2.7 million and $2.6 million for the three months ended March 31, 2021 and 2020, respectively. Accrued expenses Accrued expenses consisted of the following at March 31, 2021 and December 31, 2020 (in thousands): March 31, December 31, Accrued project costs $ 51,852 $ 81,380 Accrued property, plant and equipment 35,951 66,543 Accrued inventory 25,591 25,704 Product warranty liability (1) 22,275 22,278 Accrued compensation and benefits 20,794 51,685 Other 61,020 62,877 Accrued expenses $ 217,483 $ 310,467 —————————— (1) See Note 10. “Commitments and Contingencies” to our condensed consolidated financial statements for discussion of our “Product Warranties.” Other current liabilities Other current liabilities consisted of the following at March 31, 2021 and December 31, 2020 (in thousands): March 31, December 31, Operating lease liabilities (1) $ 16,981 $ 14,006 Derivative instruments (2) 2,938 5,280 Other taxes payable 1,851 30,041 Other 19,667 33,710 Other current liabilities $ 41,437 $ 83,037 —————————— (1) See Note 7. “Leases” to our condensed consolidated financial statements for discussion of our lease arrangements. (2) See Note 6. “Derivative Financial Instruments” to our condensed consolidated financial statements for discussion of our derivative instruments. Other liabilities Other liabilities consisted of the following at March 31, 2021 and December 31, 2020 (in thousands): March 31, December 31, Operating lease liabilities (1) $ 179,698 $ 189,034 Product warranty liability (2) 71,798 72,818 Deferred revenue 54,963 44,919 Deferred tax liabilities, net 14,668 23,671 Other 41,080 41,784 Other liabilities $ 362,207 $ 372,226 —————————— (1) See Note 7. “Leases” to our condensed consolidated financial statements for discussion of our lease arrangements. (2) See Note 10. “Commitments and Contingencies” to our condensed consolidated financial statements for discussion of our “Product Warranties.”

6. Derivative Financial Instrum

6. Derivative Financial Instruments	3 Months Ended
6. Derivative Financial Instruments	Mar. 31, 2021
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Financial Instruments	6. Derivative Financial Instruments As a global company, we are exposed in the normal course of business to interest rate, foreign currency, and commodity price risks that could affect our financial position, results of operations, and cash flows. We use derivative instruments to hedge against these risks and only hold such instruments for hedging purposes, not for speculative or trading purposes. Depending on the terms of the specific derivative instruments and market conditions, some of our derivative instruments may be assets and others liabilities at any particular balance sheet date. We report all of our derivative instruments at fair value and account for changes in the fair value of derivative instruments within “Accumulated other comprehensive loss” if the derivative instruments qualify for hedge accounting. For those derivative instruments that do not qualify for hedge accounting (i.e., “economic hedges”), we record the changes in fair value directly to earnings. See Note 8. “Fair Value Measurements” to our condensed consolidated financial statements for information about the techniques we use to measure the fair value of our derivative instruments. The following tables present the fair values of derivative instruments included in our condensed consolidated balance sheets as of March 31, 2021 and December 31, 2020 (in thousands): March 31, 2021 Prepaid Expenses and Other Current Assets Other Assets Other Current Liabilities Derivatives designated as hedging instruments: Foreign exchange forward contracts $ 330 $ 22 $ 450 Commodity swap contracts 2,283 — — Total derivatives designated as hedging instruments $ 2,613 $ 22 $ 450 Derivatives not designated as hedging instruments: Foreign exchange forward contracts $ 5,110 $ — $ 2,488 Total derivatives not designated as hedging instruments $ 5,110 $ — $ 2,488 Total derivative instruments $ 7,723 $ 22 $ 2,938 December 31, 2020 Prepaid Expenses and Other Current Assets Other Current Liabilities Other Liabilities Derivatives designated as hedging instruments: Foreign exchange forward contracts $ — $ 2,504 $ 341 Commodity swap contracts 1,478 — — Total derivatives designated as hedging instruments $ 1,478 $ 2,504 $ 341 Derivatives not designated as hedging instruments: Foreign exchange forward contracts $ 1,837 $ 2,776 $ — Total derivatives not designated as hedging instruments $ 1,837 $ 2,776 $ — Total derivative instruments $ 3,315 $ 5,280 $ 341 The following table presents the pretax amounts related to derivative instruments designated as cash flow hedges affecting accumulated other comprehensive income (loss) and our condensed consolidated statements of operations for the three months ended March 31, 2021 and 2020 (in thousands): Foreign Exchange Forward Contracts Commodity Swap Contracts Total Balance as of December 31, 2020 $ (3,644) $ 1,472 $ (2,172) Amounts recognized in other comprehensive income (loss) 1,859 1,024 2,883 Amounts reclassified to earnings impacting: Cost of sales 1,129 7 1,136 Balance as of March 31, 2021 $ (656) $ 2,503 $ 1,847 Balance as of December 31, 2019 $ (962) $ — $ (962) Amounts recognized in other comprehensive income (loss) 768 — 768 Amounts reclassified to earnings impacting: Cost of sales 207 — 207 Balance as of March 31, 2020 $ 13 $ — $ 13 During the three months ended March 31, 2021 and 2020, we recognized unrealized losses of $0.1 million and unrealized gains of $0.8 million, respectively, within “Cost of sales” for amounts excluded from effectiveness testing for our foreign exchange forward contracts designated as cash flow hedges. The following table presents gains and losses related to derivative instruments not designated as hedges affecting our condensed consolidated statements of operations for the three months ended March 31, 2021 and 2020 (in thousands): Amount of Gain (Loss) Recognized in Income Three Months Ended Income Statement Line Item 2021 2020 Foreign exchange forward contracts Cost of sales $ 169 $ 106 Foreign exchange forward contracts Foreign currency loss, net 10,296 (275) Interest rate swap contracts Interest expense, net — (2,404) Interest Rate Risk We use interest rate swap contracts to mitigate our exposure to interest rate fluctuations associated with certain of our debt instruments. We do not use such swap contracts for speculative or trading purposes. During the three months ended March 31, 2020, all of our interest rate swap contracts related to project specific debt facilities. Such swap contracts did not qualify for accounting as cash flow hedges in accordance with Accounting Standards Codification (“ASC”) 815 due to our expectation to sell the associated projects before the maturity of their project specific debt financings and corresponding swap contracts. Accordingly, changes in the fair values of these swap contracts were recorded directly to “Interest expense, net.” Foreign Currency Risk Cash Flow Exposure We expect certain of our subsidiaries to have future cash flows that will be denominated in currencies other than the subsidiaries’ functional currencies. Changes in the exchange rates between the functional currencies of our subsidiaries and the other currencies in which they transact will cause fluctuations in the cash flows we expect to receive or pay when these cash flows are realized or settled. Accordingly, we enter into foreign exchange forward contracts to hedge a portion of these forecasted cash flows. As of March 31, 2021 and December 31, 2020, these foreign exchange forward contracts hedged our forecasted cash flows for periods up to 17 months and 20 months, respectively. These foreign exchange forward contracts qualify for accounting as cash flow hedges in accordance with ASC 815, and we designated them as such. We report unrealized gains or losses on such contracts in “Accumulated other comprehensive loss” and subsequently reclassify applicable amounts into earnings when the hedged transaction occurs and impacts earnings. We determined that these derivative financial instruments were highly effective as cash flow hedges as of March 31, 2021 and December 31, 2020. As of March 31, 2021 and December 31, 2020, the notional values associated with our foreign exchange forward contracts qualifying as cash flow hedges were as follows (notional amounts and U.S. dollar equivalents in millions): March 31, 2021 Currency Notional Amount USD Equivalent U.S. dollar (1) $28.8 $28.8 December 31, 2020 Currency Notional Amount USD Equivalent U.S. dollar (1) $43.4 $43.4 —————————— (1) These derivative instruments represent hedges of outstanding payables denominated in U.S. dollars at certain of our foreign subsidiaries whose functional currencies are other than the U.S. dollar. In the following 12 months, we expect to reclassify to earnings $0.7 million of net unrealized loss related to foreign exchange forward contracts that are included in “Accumulated other comprehensive loss” at March 31, 2021 as we realize the earnings effects of the related forecasted transactions. The amount we ultimately record to earnings will depend on the actual exchange rates when we realize the related forecasted transactions. Transaction Exposure and Economic Hedging Many of our subsidiaries have assets and liabilities (primarily cash, receivables, deferred taxes, payables, accrued expenses, and solar module collection and recycling liabilities) that are denominated in currencies other than the subsidiaries’ functional currencies. Changes in the exchange rates between the functional currencies of our subsidiaries and the other currencies in which these assets and liabilities are denominated will create fluctuations in our reported condensed consolidated statements of operations and cash flows. We may enter into foreign exchange forward contracts or other financial instruments to economically hedge assets and liabilities against the effects of currency exchange rate fluctuations. The gains and losses on such foreign exchange forward contracts will economically offset all or part of the transaction gains and losses that we recognize in earnings on the related foreign currency denominated assets and liabilities. We also enter into foreign exchange forward contracts to economically hedge balance sheet and other exposures related to transactions between certain of our subsidiaries and transactions with third parties. Such contracts are considered economic hedges and do not qualify for hedge accounting. Accordingly, we recognize gains or losses from the fluctuations in foreign exchange rates and the fair value of these derivative contracts in “Foreign currency loss, net” on our condensed consolidated statements of operations. As of March 31, 2021 and December 31, 2020, the notional values of our foreign exchange forward contracts that do not qualify for hedge accounting were as follows (notional amounts and U.S. dollar equivalents in millions): March 31, 2021 Transaction Currency Notional Amount USD Equivalent Purchase Australian dollar AUD 3.2 $2.4 Purchase Brazilian real BRL 2.6 $0.5 Purchase Chilean peso CLP 1,590.5 $2.2 Sell Chilean peso CLP 4,214.4 $5.8 Purchase Euro €84.2 $98.7 Sell Euro €144.8 $169.7 Sell Indian rupee INR 355.6 $4.8 Purchase Japanese yen ¥2,403.1 $21.8 Sell Japanese yen ¥19,729.5 $178.8 Purchase Malaysian ringgit MYR 25.4 $6.1 Sell Malaysian ringgit MYR 28.7 $6.9 Sell Mexican peso MXN 34.6 $1.7 Purchase Singapore dollar SGD 5.3 $3.9 December 31, 2020 Transaction Currency Notional Amount USD Equivalent Purchase Australian dollar AUD 3.2 $2.5 Purchase Brazilian real BRL 2.6 $0.5 Sell Canadian dollar CAD 8.9 $7.0 Purchase Chilean peso CLP 2,006.0 $2.8 Sell Chilean peso CLP 4,476.7 $6.3 Purchase Euro €140.0 $172.1 Sell Euro €63.6 $78.2 Sell Indian rupee INR 619.2 $8.4 Purchase Japanese yen ¥1,593.7 $15.5 Sell Japanese yen ¥20,656.6 $200.5 Purchase Malaysian ringgit MYR 69.3 $17.2 Sell Malaysian ringgit MYR 24.9 $6.2 Sell Mexican peso MXN 34.6 $1.7 Purchase Singapore dollar SGD 2.9 $2.2 Commodity Price Risk We use commodity swap contracts to mitigate our exposure to commodity price fluctuations for certain raw materials used in the production of our modules. In August 2020, we entered into a commodity swap contract to hedge a portion of our forecasted cash flows for purchases of aluminum frames for a one-year period. Such swap had an initial notional value based on metric tons of forecasted aluminum purchases, equivalent to $24.9 million, and entitled us to receive a three-month average London Metals Exchange price for aluminum while requiring us to pay certain fixed prices. The notional amount of the commodity swap contract proportionately adjusts with forecasted purchases of aluminum frames. As of March 31, 2021, the notional value associated with this contract was $6.2 million.

7. Leases (Notes)

7. Leases (Notes)	3 Months Ended
7. Leases (Notes)	Mar. 31, 2021
Leases [Abstract]
Leases	7. Leases Our lease arrangements include land associated with our systems projects, our corporate and administrative offices, land for our international manufacturing facilities, and certain of our manufacturing equipment. Such leases primarily relate to assets located in the United States, Japan, Malaysia, and Vietnam. The following table presents certain quantitative information related to our lease arrangements for the three months ended March 31, 2021 and 2020, and as of March 31, 2021 and December 31, 2020 (in thousands): Three Months Ended 2021 2020 Operating lease cost $ 4,033 $ 4,178 Variable lease cost 538 666 Short-term lease cost 371 961 Total lease cost $ 4,942 $ 5,805 Payments of amounts included in the measurement of operating lease liabilities $ 4,113 $ 4,897 Lease assets obtained in exchange for operating lease liabilities $ 13,598 $ 17,576 March 31, December 31, Operating lease assets $ 220,689 $ 226,664 Operating lease liabilities – current 16,981 14,006 Operating lease liabilities – noncurrent 179,698 189,034 Weighted-average remaining lease term 20 years 20 years Weighted-average discount rate 2.7 % 2.9 % As of March 31, 2021, the future payments associated with our lease liabilities were as follows (in thousands): Total Lease Liabilities Remainder of 2021 $ 16,317 2022 17,406 2023 16,868 2024 16,493 2025 16,008 2026 14,556 Thereafter 139,512 Total future payments 237,160 Less: interest (40,481) Total lease liabilities $ 196,679

8. Fair Value Measurements

8. Fair Value Measurements	3 Months Ended
8. Fair Value Measurements	Mar. 31, 2021
Fair Value Disclosures [Abstract]
Fair Value Measurements	8. Fair Value Measurements The following is a description of the valuation techniques that we use to measure the fair value of assets and liabilities that we measure and report at fair value on a recurring basis: • Cash Equivalents. At March 31, 2021 and December 31, 2020, our cash equivalents consisted of money market funds. We value our cash equivalents using observable inputs that reflect quoted prices for securities with identical characteristics and classify the valuation techniques that use these inputs as Level 1. • Marketable Securities and Restricted Marketable Securities. At March 31, 2021 and December 31, 2020, our marketable securities consisted of foreign debt, U.S. debt, and time deposits. As of December 31, 2020, our restricted marketable securities consisted of foreign and U.S. government obligations. We value our marketable securities and restricted marketable securities using observable inputs that reflect quoted prices for securities with identical characteristics or quoted prices for securities with similar characteristics and other observable inputs (such as interest rates that are observable at commonly quoted intervals). Accordingly, we classify the valuation techniques that use these inputs as either Level 1 or Level 2 depending on the inputs used. We also consider the effect of our counterparties’ credit standing in these fair value measurements. • Derivative Assets and Liabilities . At March 31, 2021 and December 31, 2020, our derivative assets and liabilities consisted of foreign exchange forward contracts involving major currencies and commodity swap contracts involving major commodity prices. Since our derivative assets and liabilities are not traded on an exchange, we value them using standard industry valuation models. As applicable, these models project future cash flows and discount the amounts to a present value using market-based observable inputs, including interest rate curves, credit risk, foreign exchange rates, forward and spot prices for currencies, and forward prices for commodities. These inputs are observable in active markets over the contract term of the derivative instruments we hold, and accordingly, we classify the valuation techniques as Level 2. In evaluating credit risk, we consider the effect of our counterparties’ and our own credit standing in the fair value measurements of our derivative assets and liabilities, respectively. At March 31, 2021 and December 31, 2020, the fair value measurements of our assets and liabilities measured on a recurring basis were as follows (in thousands): Fair Value Measurements at Reporting March 31, Quoted Prices Significant Significant Unobservable Inputs (Level 3) Assets: Cash equivalents: Money market funds $ 2 $ 2 $ — $ — Marketable securities: Foreign debt 194,101 — 194,101 — U.S. debt 18,764 — 18,764 — Time deposits 349,870 349,870 — — Derivative assets 7,745 — 7,745 — Total assets $ 570,482 $ 349,872 $ 220,610 $ — Liabilities: Derivative liabilities $ 2,938 $ — $ 2,938 $ — Fair Value Measurements at Reporting December 31, Quoted Prices Significant Significant Unobservable Inputs (Level 3) Assets: Cash equivalents: Money market funds $ 2 $ 2 $ — $ — Marketable securities: Foreign debt 214,254 — 214,254 — U.S. debt 14,543 — 14,543 — Time deposits 291,269 291,269 — — Restricted marketable securities 265,280 — 265,280 — Derivative assets 3,315 — 3,315 — Total assets $ 788,663 $ 291,271 $ 497,392 $ — Liabilities: Derivative liabilities $ 5,621 $ — $ 5,621 $ — Fair Value of Financial Instruments At March 31, 2021 and December 31, 2020, the carrying values and fair values of our financial instruments not measured at fair value were as follows (in thousands): March 31, 2021 December 31, 2020 Carrying Fair Carrying Fair Assets: Accounts receivable, unbilled - noncurrent $ 53,281 $ 47,767 $ 22,722 $ 22,096 Liabilities: Long-term debt, including current maturities (1) $ 264,427 $ 262,442 $ 287,149 $ 297,076 —————————— (1) Excludes unamortized discounts and issuance costs. The carrying values in our condensed consolidated balance sheets of our trade accounts receivable, current unbilled accounts receivable, restricted cash, accounts payable, and accrued expenses approximated their fair values due to their nature and relatively short maturities; therefore, we excluded them from the foregoing table. The fair value measurements for our noncurrent unbilled accounts receivable and long-term debt are considered Level 2 measurements under the fair value hierarchy. Credit Risk We have certain financial and derivative instruments that subject us to credit risk. These consist primarily of cash, cash equivalents, marketable securities, accounts receivable, restricted cash, foreign exchange forward contracts, and commodity swap contracts. We are exposed to credit losses in the event of nonperformance by the counterparties to our financial and derivative instruments. We place these instruments with various high-quality financial institutions and limit the amount of credit risk from any one counterparty. We continuously evaluate the credit standing of our counterparty financial institutions. Our net sales are primarily concentrated among a limited number of customers. We monitor the financial condition of our customers and perform credit evaluations whenever considered necessary. Depending upon the sales arrangement, we may require some form of payment security from our customers, including advance payments, parent guarantees, letters of credit, bank guarantees, or surety bonds. We also have power purchase agreements (“PPAs”) that subject us to credit risk in the event our off-take counterparties are unable to fulfill their contractual obligations, which may adversely affect our project assets and certain receivables. Accordingly, we closely monitor the credit standing of existing and potential off-take counterparties to limit such risks.

9. Debt

9. Debt	3 Months Ended
9. Debt	Mar. 31, 2021
Debt Instruments [Abstract]
Debt	9. Debt Our long-term debt consisted of the following at March 31, 2021 and December 31, 2020 (in thousands): Balance (USD) Loan Agreement Currency March 31, December 31, Revolving Credit Facility USD $ — $ — Luz del Norte Credit Facilities USD 185,639 186,230 Japan Credit Facility JPY 34,246 13,813 Tochigi Credit Facility JPY — 39,400 Kyoto Credit Facility JPY 44,542 47,706 Ikeda Credit Facility JPY — — Long-term debt principal 264,427 287,149 Less: unamortized discounts and issuance costs (7,527) (7,918) Total long-term debt 256,900 279,231 Less: current portion (2,453) (41,540) Noncurrent portion $ 254,447 $ 237,691 Revolving Credit Facility Our amended and restated credit agreement with several financial institutions as lenders and JPMorgan Chase Bank, N.A. as administrative agent provides us with a senior secured credit facility (the “Revolving Credit Facility”) with an aggregate borrowing capacity of $500.0 million, which we may increase to $750.0 million, subject to certain conditions. Borrowings under the credit facility bear interest at (i) London Interbank Offered Rate (“LIBOR”), adjusted for Eurocurrency reserve requirements, plus a margin of 2.00% or (ii) a base rate as defined in the credit agreement plus a margin of 1.00% depending on the type of borrowing requested. These margins are also subject to adjustment depending on our consolidated leverage ratio. We had no borrowings under our Revolving Credit Facility as of March 31, 2021 and December 31, 2020 and had issued $3.4 million and $4.3 million, respectively, of letters of credit using availability under the facility. Loans and letters of credit issued under the Revolving Credit Facility are jointly and severally guaranteed by First Solar, Inc.; First Solar Electric, LLC; First Solar Electric (California), Inc.; and First Solar Development, LLC and are secured by interests in substantially all of the guarantors’ tangible and intangible assets other than certain excluded assets. In addition to paying interest on outstanding principal under the Revolving Credit Facility, we are required to pay a commitment fee at a rate of 0.30% per annum, based on the average daily unused commitments under the facility, which may also be adjusted due to changes in our consolidated leverage ratio. We also pay a letter of credit fee based on the applicable margin for Eurocurrency revolving loans on the face amount of each letter of credit and a fronting fee of 0.125%. Our Revolving Credit Facility matures in July 2022. Luz del Norte Credit Facilities In August 2014, Parque Solar Fotovoltaico Luz del Norte SpA (“Luz del Norte”), our indirect wholly-owned subsidiary and project company, entered into credit facilities (the “Luz del Norte Credit Facilities”) with the U.S. International Development Finance Corporation (“DFC”) and the International Finance Corporation (“IFC”) to provide limited-recourse senior secured debt financing for the design, development, financing, construction, testing, commissioning, operation, and maintenance of a 141 MW AC PV solar power plant located near Copiapó, Chile. In March 2017, we amended the terms of the DFC and IFC credit facilities. Such amendments (i) allowed for the capitalization of accrued and unpaid interest through March 15, 2017, along with the capitalization of certain future interest payments as variable rate loans under the credit facilities, (ii) allowed for the conversion of certain fixed rate loans to variable rate loans upon scheduled repayment, (iii) extended the maturity of the DFC and IFC loans until June 2037, and (iv) canceled the remaining borrowing capacity under the DFC and IFC credit facilities with the exception of the capitalization of certain future interest payments. As of March 31, 2021 and December 31, 2020, the balance outstanding on the DFC loans was $139.0 million and $139.4 million, respectively. As of March 31, 2021 and December 31, 2020, the balance outstanding on the IFC loans was $46.6 million and $46.8 million, respectively. The DFC and IFC loans are secured by liens over all of Luz del Norte’s assets and by a pledge of all of the equity interests in the entity. Japan Credit Facility In September 2015, First Solar Japan GK, our wholly-owned subsidiary, entered into a construction loan facility with Mizuho Bank, Ltd. for borrowings up to ¥4.0 billion ($33.4 million) for the development and construction of utility-scale PV solar power plants in Japan (the “Japan Credit Facility”). Borrowings under the facility generally mature within 12 months following the completion of construction activities for each financed project. The facility is guaranteed by First Solar, Inc. and secured by pledges of certain projects’ cash accounts and other rights in the projects. Tochigi Credit Facility In June 2017, First Solar Japan GK, our wholly-owned subsidiary, entered into a term loan facility with Mizuho Bank, Ltd. for borrowings up to ¥7.0 billion ($62.2 million) for the development of utility-scale PV solar power plants in Japan (the “Tochigi Credit Facility”). In March 2021, the credit facility matured and we repaid the remaining $36.8 million principal balance. Kyoto Credit Facility In July 2020, First Solar Japan GK, our wholly-owned subsidiary, entered into a construction loan facility with Mizuho Bank, Ltd. for borrowings up to ¥15.0 billion ($142.8 million), which are intended to be used for the construction of a 38 MW AC PV solar power plant located in Kyoto, Japan (the “Kyoto Credit Facility”). Borrowings under the facility generally mature within 12 months following the completion of construction activities at the project. The facility is guaranteed by First Solar, Inc. and First Solar Japan GK, our wholly-owned subsidiary, and secured by pledges of the project’s cash accounts and certain other assets. Ikeda Credit Facility In March 2021, FS Japan Project B4 GK (“Ikeda”), our indirect wholly-owned subsidiary and project company, entered into a credit agreement (the “Ikeda Credit Facility”) with MUFG Bank, Ltd.; Japan Post Insurance Co., Ltd.; The Shizuoka Bank, Ltd.; The Hyakugo Bank, Ltd.; The Iyo Bank, Ltd.; and The Yamagata Bank, Ltd. for aggregate borrowings up to ¥9.8 billion ($88.6 million) for the development and construction of a 21 MW AC PV solar power plant located in Tochigi, Japan. The credit facility consists of a ¥4.7 billion ($43.1 million) fixed rate term loan facility, a ¥3.8 billion ($34.1 million) variable rate term loan facility, a ¥0.9 billion ($8.2 million) consumption tax facility, and a ¥0.4 billion ($3.2 million) debt service reserve facility. The fixed rate and variable rate term loan facilities mature in April 2040, the consumption tax facility matures in May 2024, and the debt service reserve facility is expected to mature in October 2039. The credit facility is secured by pledges of certain of Ikeda’s assets, accounts, material project documents, and by the equity interests in the entity. Variable Interest Rate Risk Certain of our long-term debt agreements bear interest at prime, LIBOR, Tokyo Interbank Offered Rate (“TIBOR”), or equivalent variable rates. An increase in these variable rates would increase the cost of borrowing under our Revolving Credit Facility and certain project specific debt financings. Our long-term debt borrowing rates as of March 31, 2021 were as follows: Loan Agreement March 31, 2021 Revolving Credit Facility 2.11% Luz del Norte Credit Facilities (1) Fixed rate loans at bank rate plus 3.50% Variable rate loans at 91-Day U.S. Treasury Bill Yield or LIBOR plus 3.50% Japan Credit Facility 1-month TIBOR plus 0.55% Kyoto Credit Facility 1-month TIBOR plus 0.60% Ikeda Credit Facility Fixed rate term loan facility at 1.20% Variable rate term loan facility at 6-month TIBOR plus 0.70% Consumption tax facility at 3-month TIBOR plus 0.50% Debt service reserve facility at 6-month TIBOR plus 1.20% —————————— (1) Outstanding balance comprised of $141.3 million of fixed rate loans and $44.3 million of variable rate loans as of March 31, 2021. Future Principal Payments At March 31, 2021, the future principal payments on our long-term debt were due as follows (in thousands): Total Debt Remainder of 2021 $ 1,810 2022 38,281 2023 6,084 2024 51,563 2025 7,560 2026 7,965 Thereafter 151,164 Total long-term debt future principal payments $ 264,427

10. Commitments and Contingenci

10. Commitments and Contingencies	3 Months Ended
10. Commitments and Contingencies	Mar. 31, 2021
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	10. Commitments and Contingencies Commercial Commitments During the normal course of business, we enter into commercial commitments in the form of letters of credit and surety bonds to provide financial and performance assurance to third parties. As of March 31, 2021, the majority of these commercial commitments supported our systems projects. As of March 31, 2021, the issued and outstanding amounts and available capacities under these commitments were as follows (in millions): Issued and Outstanding Available Capacity Revolving Credit Facility (1) $ 3.4 $ 396.6 Bilateral facilities (2) 112.7 293.3 Surety bonds 56.9 660.0 —————————— (1) Our Revolving Credit Facility provides us with a sub-limit of $400.0 million to issue letters of credit, subject to certain additional limits depending on the currencies of the letters of credit, at a fee based on the applicable margin for Eurocurrency revolving loans and a fronting fee. (2) Of the total letters of credit issued under the bilateral facilities, $1.2 million was secured with cash. Product Warranties When we recognize revenue for module or system sales, we accrue liabilities for the estimated future costs of meeting our limited warranty obligations for both modules and the balance of the systems. We make and revise these estimates based primarily on the number of solar modules under warranty installed at customer locations, our historical experience with and projections of warranty claims, and our estimated per-module replacement costs. We also monitor our expected future module performance through certain quality and reliability testing and actual performance in certain field installation sites. From time to time, we have taken remediation actions with respect to affected modules beyond our limited warranties and may elect to do so in the future, in which case we would incur additional expenses. Such potential voluntary future remediation actions beyond our limited warranty obligations may be material to our condensed consolidated statements of operations if we commit to any such remediation actions. Product warranty activities during the three months ended March 31, 2021 and 2020 were as follows (in thousands): Three Months Ended 2021 2020 Product warranty liability, beginning of period $ 95,096 $ 129,797 Accruals for new warranties issued 2,277 2,285 Settlements (3,226) (6,562) Changes in estimate of product warranty liability (74) (1,019) Product warranty liability, end of period $ 94,073 $ 124,501 Current portion of warranty liability $ 22,275 $ 20,399 Noncurrent portion of warranty liability $ 71,798 $ 104,102 We estimate our limited product warranty liability for power output and defects in materials and workmanship under normal use and service conditions based on return rates for each series of module technology. In general, we expect the return rates for our newer series of module technology to be lower than our older series. We estimate that the return rate for such newer series of module technology will be less than 1%. As of March 31, 2021, a 1% increase in the return rate across all series of module technology would increase our product warranty liability by $108.8 million, and a 1% increase in the return rate for balance of systems (“BoS”) parts would not have a material impact on the associated warranty liability. Performance Guarantees As part of our systems business, we conduct performance testing of a system prior to substantial completion to confirm the system meets its operational and capacity expectations noted in the engineering, procurement, and construction (“EPC”) agreement. In addition, we may provide an energy performance test during the first or second year of a system’s operation to demonstrate that the actual energy generation for the applicable period meets or exceeds the modeled energy expectation, after certain adjustments. If there is an underperformance event with regard to these tests, we may incur liquidated damages as specified in the applicable EPC agreement. In certain instances, a bonus payment may be received at the end of the applicable test period if the system performs above a specified level. As of March 31, 2021 and December 31, 2020, we accrued $2.9 million and $10.2 million, respectively, for our estimated obligations under such arrangements, which were classified as “Other current liabilities” in our condensed consolidated balance sheets. Indemnifications In certain limited circumstances, we have provided indemnifications to customers or other parties, including project tax equity investors, under which we are contractually obligated to compensate such parties for losses they suffer resulting from a breach of a representation, warranty, or covenant; a reduction in tax benefits received, including investment tax credits; the resolution of specific matters associated with a project’s development or construction; or guarantees of a third party’s payment or performance obligations. Project related tax benefits are, in part, based on guidance provided by the Internal Revenue Service and U.S. Treasury Department, which includes assumptions regarding the fair value of qualifying PV solar power systems. For contracts that have such indemnification provisions, we initially recognize a liability under ASC 460 for the estimated premium that would be required by a guarantor to issue the same indemnity in a standalone arm’s-length transaction with an unrelated party. We may base these estimates on the cost of insurance or other instruments that cover the underlying risks being indemnified and may purchase such instruments to mitigate our exposure to potential indemnification payments. We subsequently measure such liabilities at the greater of the initially estimated premium or the contingent liability required to be recognized under ASC 450. We recognize any indemnification liabilities as a reduction of earnings associated with the related transaction. After an indemnification liability is recorded, we derecognize such amount pursuant to ASC 460 depending on the nature of the indemnity, which derecognition typically occurs upon expiration or settlement of the arrangement, and any contingent aspects of the indemnity are accounted for in accordance with ASC 450. As of March 31, 2021 and December 31, 2020, we accrued $6.0 million and $3.2 million of current indemnification liabilities, respectively. As of March 31, 2021, the maximum potential amount of future payments under our indemnifications was $146.8 million, and we held insurance and other instruments allowing us to recover up to $72.0 million of potential amounts paid under the indemnifications. Solar Module Collection and Recycling Liability We previously established a module collection and recycling program, which has since been discontinued, to collect and recycle modules sold and covered under such program once the modules reach the end of their service lives. For legacy customer sales contracts that were covered under this program, we agreed to pay the costs for the collection and recycling of qualifying solar modules, and the end-users agreed to notify us, disassemble their solar power systems, package the solar modules for shipment, and revert ownership rights over the modules back to us at the end of the modules’ service lives. Accordingly, we recorded any collection and recycling obligations within “Cost of sales” at the time of sale based on the estimated cost to collect and recycle the covered solar modules. We estimate the cost of our collection and recycling obligations based on the present value of the expected future cost of collecting and recycling the solar modules, which includes estimates for the cost of packaging materials; the cost of freight from the solar module installation sites to a recycling center; material, labor, and capital costs; and by-product credits for certain materials recovered during the recycling process. We base these estimates on our experience collecting and recycling solar modules and certain assumptions regarding costs at the time the solar modules will be collected and recycled. In the periods between the time of sale and the related settlement of the collection and recycling obligation, we accrete the carrying amount of the associated liability and classify the corresponding expense within “Selling, general and administrative” expense on our condensed consolidated statements of operations. Our module collection and recycling liability was $128.1 million and $130.7 million as of March 31, 2021 and December 31, 2020, respectively. As of March 31, 2021, a 1% increase in the annualized inflation rate used in our estimated future collection and recycling cost per module would increase the liability by $21.2 million, and a 1% decrease in that rate would decrease the liability by $18.3 million. See Note 4. “Restricted Marketable Securities” to our condensed consolidated financial statements for more information about our arrangements for funding this liability. Legal Proceedings We are party to legal matters and claims in the normal course of our operations, which are described in Note 13 within our Annual Report on Form 10-K for the year ended December 31, 2020. While we believe the ultimate outcome of these matters and claims will not have a material adverse effect on our financial position, results of operations, or cash flows, the outcome of such matters and claims is not determinable with certainty, and negative outcomes may adversely affect us. There have been no material changes to these matters since our Annual Report on Form 10-K for the year ended December 31, 2020 was filed with the SEC on February 26, 2021.

11. Revenue from Contracts with

11. Revenue from Contracts with Customers (Notes)	3 Months Ended
11. Revenue from Contracts with Customers (Notes)	Mar. 31, 2021
Revenue from Contract with Customer [Abstract]
Revenue from Contracts with Customers [Text Block]	11. Revenue from Contracts with Customers The following table presents the disaggregation of revenue from contracts with customers for the three months ended March 31, 2021 and 2020 along with the reportable segment for each category (in thousands): Three Months Ended Category Segment 2021 2020 Solar modules Modules $ 534,670 $ 393,681 Solar power systems Systems 226,967 90,076 O&M services Systems 27,235 29,475 Energy generation (1) Systems 14,579 17,973 EPC services (2) Systems (77) 919 Net sales $ 803,374 $ 532,124 —————————— (1) During the three months ended March 31, 2020, the majority of energy generated and sold by our PV solar power systems was accounted for under ASC 840 consistent with the classification of the associated PPAs. (2) For certain of our EPC agreements, we provide an energy performance test during the first or second year of a system’s operation to demonstrate that the actual energy generation for the applicable period meets or exceeds the modeled energy expectation, after certain adjustments. If there is an underperformance event with regard to these tests, we may incur liquidated damages as specified in the applicable EPC agreement. During the three months ended March 31, 2021 we accrued liquidated damages for certain of these arrangements, which we recognized as a reduction to revenue. See Note 10. “Commitments and Contingencies” to our condensed consolidated financial statements for discussion of our performance guarantee arrangements. We recognize revenue for module sales at a point in time following the transfer of control of the modules to the customer, which typically occurs upon shipment or delivery depending on the terms of the underlying contracts. Such contracts may contain provisions that require us to make liquidated damage payments to the customer if we fail to ship or deliver modules by scheduled dates. We recognize these liquidated damages as a reduction of revenue in the period we transfer control of the modules to the customer. For EPC services, or sales of solar power systems with EPC services, we recognize revenue over time using cost based input methods, in which significant judgment is required to evaluate assumptions including the amount of net contract revenues and the total estimated costs to determine our progress toward contract completion. If the estimated total costs on any contract are greater than the net contract revenues, we recognize the entire estimated loss in the period the loss becomes known. The cumulative effect of revisions to estimates related to net contract revenues or costs to complete contracts are recorded in the period in which the revisions to estimates are identified and the amounts can be reasonably estimated. Changes in estimates for sales of systems and EPC services occur for a variety of reasons, including but not limited to (i) construction plan accelerations or delays, (ii) module cost forecast changes, (iii) cost related change orders, or (iv) changes in other information used to estimate costs. Changes in estimates may have a material effect on our condensed consolidated statements of operations. The following table outlines the impact on revenue of net changes in estimated transaction prices and input costs for systems related sales contracts (both increases and decreases) for the three months ended March 31, 2021 and 2020 as well as the number of projects that comprise such changes. For purposes of the table, we only include projects with changes in estimates that have a net impact on revenue of at least $1.0 million during the periods presented. Also included in the table is the net change in estimate as a percentage of the aggregate revenue for such projects. Three Months Ended 2021 2020 Number of projects 4 2 Increase (decrease) in revenue from net changes in transaction prices (in thousands) $ 1,634 $ (762) Increase in revenue from net changes in input cost estimates (in thousands) — 1,885 Net increase in revenue from net changes in estimates (in thousands) $ 1,634 $ 1,123 Net change in estimate as a percentage of aggregate revenue 0.1 % 0.3 % The following table reflects the changes in our contract assets, which we classify as “Accounts receivable, unbilled,” and our contract liabilities, which we classify as “Deferred revenue,” for the three months ended March 31, 2021. As of December 31, 2020, these balances excluded any assets or liabilities classified as held for sale (in thousands): March 31, December 31, Three Month Change Accounts receivable, unbilled (1) $ 80,561 $ 49,395 Allowance for credit losses (276) (303) Accounts receivable, unbilled, net $ 80,285 $ 49,092 $ 31,193 64 % Deferred revenue (2) $ 261,493 $ 233,732 $ 27,761 12 % —————————— (1) Includes $53.3 million and $22.7 million of non-current accounts receivable, unbilled classified as “Other assets” on our condensed consolidated balance sheets as of March 31, 2021 and December 31, 2020, respectively. (2) Includes $55.0 million and $44.9 million of non-current deferred revenue classified as “Other liabilities” on our condensed consolidated balance sheets as of March 31, 2021 and December 31, 2020, respectively. During the three months ended March 31, 2021, our contract assets increased by $31.2 million primarily due to unbilled receivables associated with the sale of certain project assets in the United States that were not part of the sale of our U.S. project development business described in Note 2. “Sales of Businesses.” During the three months ended March 31, 2021, our contract liabilities increased by $27.8 million primarily due to advance payments received for sales of solar modules in the current period, including $32.1 million for solar modules associated with the sale of our U.S. project development business described in Note 2. “Sales of Businesses,” partially offset by the recognition of revenue for sales of solar modules for which payment was received in 2020. During the three months ended March 31, 2021 and 2020, we recognized revenue of $72.0 million and $268.2 million, respectively, that was included in the corresponding contract liability balance at the beginning of the periods. As of March 31, 2021, we had entered into contracts with customers for the future sale of 14.1 GW DC of solar modules for an aggregate transaction price of $4.1 billion. We expect to recognize such amounts as revenue through 2024 as we transfer control of the modules to the customers. While our contracts with customers typically represent firm purchase commitments, these contracts may be subject to amendments made by us or requested by our customers. These amendments may increase or decrease the volume of modules to be sold under the contract, change delivery schedules, or otherwise adjust the expected revenue under these contracts.

12. Share-Based Compensation

12. Share-Based Compensation	3 Months Ended
12. Share-Based Compensation	Mar. 31, 2021
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Abstract]
Share-Based Compensation	12. Share-Based Compensation The following table presents share-based compensation expense recognized in our condensed consolidated statements of operations for the three months ended March 31, 2021 and 2020 (in thousands): Three Months Ended 2021 2020 Cost of sales (1) $ (92) $ 1,212 Selling, general and administrative (1) 4,515 4,709 Research and development (2) (1,308) 1,283 Total share-based compensation expense $ 3,115 $ 7,204 —————————— (1) On March 31, 2021, we completed the sales of our North American O&M operations and U.S. project development business, which resulted in the forfeiture of unvested shares for associates (our term for full and part-time employees) departing the Company as part of the transactions. See Note 2. “Sales of Businesses” to our condensed consolidated financial statements for further information related to these transactions. (2) Effective March 15, 2021, our former Chief Technology Officer retired from the Company, which resulted in the forfeiture of his unvested shares during the three months ended March 31, 2021. Share-based compensation expense capitalized in inventory, project assets, and PV solar power systems was $0.8 million as of March 31, 2021 and $1.1 million as of December 31, 2020. As of March 31, 2021, we had $29.3 million of unrecognized share-based compensation expense related to unvested restricted and performance units, which we expect to recognize over a weighted-average period of approximately 1.7 years. In April 2018, the compensation committee of our board of directors approved a long-term incentive program for key executive officers and associates. The program was intended to incentivize retention of our key executive talent and align the interest of executive management and stockholders. The program consisted of performance units to be earned over an approximately three-year performance period, which ended in December 2020. Vesting of the 2018 grants of performance units was contingent upon the relative attainment of target gross margin, operating expense, and contracted revenue metrics. In February 2021, the compensation committee of our board of directors certified the achievement of the vesting conditions applicable to the grants, which approximated the target level of performance. Accordingly, each participant received one share of common stock for each vested performance unit, net of any tax withholdings. In July 2019, the compensation committee approved additional grants of performance units for key executive officers. Such grants are expected to be earned over a multi-year performance period ending in December 2021. Vesting of the 2019 grants of performance units is contingent upon the relative attainment of target cost per watt, module wattage, gross profit, and operating income metrics. In March 2020, the compensation committee approved additional grants of performance units for key executive officers. Such grants are expected to be earned over a multi-year performance period ending in December 2022. Vesting of the 2020 grants of performance units is contingent upon the relative attainment of contracted revenue, module wattage, and return on capital metrics. Vesting of performance units is also contingent upon the employment of program participants through the applicable vesting dates, with limited exceptions in case of death, disability, a qualifying retirement, or a change-in-control of First Solar. Outstanding performance units are included in the computation of diluted net income per share based on the number of shares that would be issuable if the end of the reporting period were the end of the contingency period.

13. Income Taxes

13. Income Taxes	3 Months Ended
13. Income Taxes	Mar. 31, 2021
Income Tax Disclosure [Abstract]
Income Taxes	13. Income Taxes In March 2020, the Coronavirus Aid, Relief, and Economic Security (CARES) Act (the “CARES Act”) was signed into law. The CARES Act includes a number of federal corporate tax relief provisions that are intended to support the ongoing liquidity of U.S. corporations. Among other provisions, the CARES Act allows net operating losses incurred in 2018, 2019, and 2020 to be carried back to each of the five preceding taxable years. Because changes in tax law are accounted for in the period of enactment, the retroactive effects of such changes were accounted for as a discrete item in the prior period. As a result of the CARES Act, we expect to carry back our 2019 and 2020 net operating losses to our 2016 U.S. corporate income tax return, which will restore certain foreign tax credits we expect to utilize by amending our 2017 and 2018 U.S. corporate income tax returns. Such amended returns will restore other general business credits we expect to utilize in future tax years before the credits expire and eliminate the transition tax liability for accumulated earnings of foreign subsidiaries resulting from the Tax Cuts and Jobs Act. Our effective tax rate was 18% and (5,657)% for the three months ended March 31, 2021 and 2020, respectively. The increase in our effective tax rate was primarily driven by a discrete tax benefit in the prior year associated with the net operating loss carryback provisions of the CARES Act described above and the relative size of our pretax income in the prior period. Our provision for income taxes differed from the amount computed by applying the U.S. statutory federal income tax rate of 21% primarily due to the beneficial impact of the Malaysian tax holiday and Vietnamese tax incentive. Our Malaysian subsidiary has been granted a long-term tax holiday that expires in 2027. The tax holiday, which generally provides for a full exemption from Malaysian income tax, is conditional upon our continued compliance with certain employment and investment thresholds, which we are currently in compliance with and expect to continue to comply with through the expiration of the tax holiday in 2027. In addition, our Vietnamese subsidiary has been granted a tax incentive that provides a two-year tax exemption, which began in 2020, and reduced tax rates through the end of 2025. We account for uncertain tax positions pursuant to the recognition and measurement criteria under ASC 740. It is reasonably possible that $0.4 million of uncertain tax positions will be recognized within the next 12 months due to the expiration of the statute of limitations associated with such positions. We are subject to audit by federal, state, local, and foreign tax authorities. We are currently under examination in India, Malaysia, and the state of California. We believe that adequate provisions have been made for any adjustments that may result from tax examinations. However, the outcome of tax examinations cannot be predicted with certainty. If any issues addressed by our tax examinations are not resolved in a manner consistent with our expectations, we could be required to adjust our provision for income taxes in the period such resolution occurs.

14. Net Income Per Share

14. Net Income Per Share	3 Months Ended
14. Net Income Per Share	Mar. 31, 2021
Earnings Per Share [Abstract]
Net Income (Loss) per Share	14. Net Income per Share The calculation of basic and diluted net income per share for the three months ended March 31, 2021 and 2020 was as follows (in thousands, except per share amounts): Three Months Ended 2021 2020 Basic net income per share Numerator: Net income $ 209,671 $ 90,704 Denominator: Weighted-average common shares outstanding 106,088 105,595 Diluted net income per share Denominator: Weighted-average common shares outstanding 106,088 105,595 Effect of restricted and performance units and stock purchase plan shares 802 791 Weighted-average shares used in computing diluted net income per share 106,890 106,386 Net income per share: Basic $ 1.98 $ 0.86 Diluted $ 1.96 $ 0.85 There were no anti-dilutive common shares for the three months ended March 31, 2021 and 2020.

15. Accumulated Other Comprehen

15. Accumulated Other Comprehensive Loss (Notes)	3 Months Ended
15. Accumulated Other Comprehensive Loss (Notes)	Mar. 31, 2021
Other Comprehensive Income (Loss), Net of Tax [Abstract]
Accumulated Other Comprehensive Loss	15. Accumulated Other Comprehensive Loss The following table presents the changes in accumulated other comprehensive loss, net of tax, for the three months ended March 31, 2021 (in thousands): Foreign Currency Translation Adjustment Unrealized Gain (Loss) on Marketable Securities and Restricted Marketable Securities Unrealized Gain (Loss) on Derivative Instruments Total Balance as of December 31, 2020 $ (76,239) $ 16,630 $ (2,117) $ (61,726) Other comprehensive (loss) income before reclassifications (10,191) (6,015) 2,883 (13,323) Amounts reclassified from accumulated other comprehensive loss 475 (11,696) 1,136 (10,085) Net tax effect — 1,121 (637) 484 Net other comprehensive (loss) income (9,716) (16,590) 3,382 (22,924) Balance as of March 31, 2021 $ (85,955) $ 40 $ 1,265 $ (84,650) The following table presents the pretax amounts reclassified from accumulated other comprehensive loss into our condensed consolidated statements of operations for the three months ended March 31, 2021 and 2020 (in thousands): Comprehensive Income Components Income Statement Line Item Three Months Ended 2021 2020 Foreign currency translation adjustment Other income (expense), net $ (475) $ — Unrealized gain on marketable securities and restricted marketable securities Other income (expense), net 11,696 15,088 Unrealized loss on derivative contracts: Foreign exchange forward contracts Cost of sales (1,129) (207) Commodity swap contracts Cost of sales (7) — Total unrealized loss on derivative contracts (1,136) (207) Total gain reclassified $ 10,085 $ 14,881

16. Segment Reporting

16. Segment Reporting	3 Months Ended
16. Segment Reporting	Mar. 31, 2021
Segment Reporting Information, Profit (Loss) [Abstract]
Segment Reporting	16. Segment Reporting We operate our business in two segments. Our modules segment involves the design, manufacture, and sale of cadmium telluride (“CdTe”) solar modules, which convert sunlight into electricity. Third-party customers of our modules segment include integrators and operators of PV solar power systems. Our second segment is our systems segment, through which we provide power plant solutions in certain markets, which include (i) project development, (ii) EPC services, and (iii) O&M services. We may provide any combination of individual products and services within such capabilities (including, with respect to EPC services, by contracting with third parties) depending upon the customer and market opportunity. Our systems segment customers include utilities, independent power producers, commercial and industrial companies, and other system owners. From time to time, we may temporarily own and operate, or retain interests in, certain of our systems for a period of time based on strategic opportunities or market factors. See Note 20. “Segment and Geographical Information” in our Annual Report on Form 10-K for the year ended December 31, 2020 for additional discussion of our segment reporting. The following tables present certain financial information for our reportable segments for the three months ended March 31, 2021 and 2020 and as of March 31, 2021 and December 31, 2020 (in thousands): Three Months Ended March 31, 2021 Three Months Ended March 31, 2020 Modules Systems Total Modules Systems Total Net sales $ 534,670 $ 268,704 $ 803,374 $ 393,681 $ 138,443 $ 532,124 Gross profit 100,440 84,327 184,767 75,352 14,986 90,338 Depreciation and amortization expense 50,724 3,097 53,821 44,673 6,258 50,931 March 31, 2021 December 31, 2020 Modules Systems Total Modules Systems Total Goodwill $ 14,462 $ — $ 14,462 $ 14,462 $ — $ 14,462

3. Cash, Cash Equivalents, an_2

3. Cash, Cash Equivalents, and Marketable Securities (Tables)	3 Months Ended
	Mar. 31, 2021
Cash, Cash Equivalents, and Short-term Investments [Abstract]
Schedule of Cash, Cash Equivalent, and Marketable Securities	Cash, cash equivalents, and marketable securities consisted of the following at March 31, 2021 and December 31, 2020 (in thousands): March 31, December 31, Cash and cash equivalents: Cash $ 972,877 $ 1,227,000 Money market funds 2 2 Total cash and cash equivalents 972,879 1,227,002 Marketable securities: Foreign debt 194,101 214,254 U.S. debt 18,764 14,543 Time deposits 349,870 291,269 Total marketable securities 562,735 520,066 Total cash, cash equivalents, and marketable securities $ 1,535,614 $ 1,747,068
Reconciliation of Cash, Cash Equivalents, and Restricted Cash	The following table provides a reconciliation of cash, cash equivalents, and restricted cash reported within our condensed consolidated balance sheets as of March 31, 2021 and December 31, 2020 to the total of such amounts as presented in the condensed consolidated statements of cash flows (in thousands): Balance Sheet Line Item March 31, December 31, Cash and cash equivalents Cash and cash equivalents $ 972,879 $ 1,227,002 Restricted cash – current Prepaid expenses and other current assets 2,212 1,745 Restricted cash – noncurrent Other assets 258,760 44,847 Total cash, cash equivalents, and restricted cash $ 1,233,851 $ 1,273,594
Available-for-sale Marketable Securities	The following tables summarize the unrealized gains and losses related to our available-for-sale marketable securities, by major security type, as of March 31, 2021 and December 31, 2020 (in thousands): As of March 31, 2021 Amortized Unrealized Unrealized Allowance for Credit Losses Fair Foreign debt $ 193,860 $ 268 $ 21 $ 6 $ 194,101 U.S. debt 19,020 18 272 2 18,764 Time deposits 350,000 — — 130 349,870 Total $ 562,880 $ 286 $ 293 $ 138 $ 562,735 As of December 31, 2020 Amortized Unrealized Unrealized Allowance for Credit Losses Fair Foreign debt $ 213,949 $ 367 $ 46 $ 16 $ 214,254 U.S. debt 14,521 22 — — 14,543 Time deposits 291,374 — — 105 291,269 Total $ 519,844 $ 389 $ 46 $ 121 $ 520,066
Debt Securities, Available-for-sale, Allowance for Credit Loss	The following table presents the change in the allowance for credit losses related to our available-for-sale marketable securities for the three months ended March 31, 2021 and 2020 (in thousands): Three Months Ended 2021 2020 Allowance for credit losses, beginning of period $ 121 $ — Cumulative-effect adjustment for the adoption of ASU 2016-13 — 207 Provision for credit losses, net 122 180 Sales and maturities of marketable securities (105) (172) Allowance for credit losses, end of period $ 138 $ 215
Available-for-sale Marketable Securities by Maturity	The contractual maturities of our marketable securities as of March 31, 2021 were as follows (in thousands): Fair One year or less $ 458,537 One year to two years 94,472 Two years to three years — Three years to four years — Four years to five years 4,950 More than five years 4,776 Total $ 562,735

4. Restricted Marketable Secu_2

4. Restricted Marketable Securities (Tables)	3 Months Ended
4. Restricted Marketable Securities (Tables)	Mar. 31, 2021
Debt Securities, Available-for-sale, Restricted [Abstract]
Schedule of Restricted Marketable Securities	Restricted marketable securities consisted of the following as of March 31, 2021 and December 31, 2020 (in thousands): March 31, December 31, Foreign government obligations $ — $ 149,700 U.S. government obligations — 115,580 Total restricted marketable securities $ — $ 265,280
Restricted Available-for-sale Marketable Securities	The following table summarizes the unrealized gains and losses related to our restricted marketable securities, by major security type, as of December 31, 2020 (in thousands): As of December 31, 2020 Amortized Unrealized Unrealized Allowance for Credit Losses Fair Foreign government obligations $ 131,980 $ 17,720 $ — $ — $ 149,700 U.S. government obligations 115,648 133 188 13 115,580 Total $ 247,628 $ 17,853 $ 188 $ 13 $ 265,280
Restricted Debt Securities, Available-for-sale, Allowance for Credit Loss	The following table presents the change in the allowance for credit losses related to our restricted marketable securities for the three months ended March 31, 2021 and 2020 (in thousands): Three Months Ended 2021 2020 Allowance for credit losses, beginning of period $ 13 $ — Cumulative-effect adjustment for the adoption of ASU 2016-13 — 54 Provision for credit losses, net 16 1 Sales of restricted marketable securities (29) (25) Allowance for credit losses, end of period $ — $ 30

5. Consolidated Balance Sheet_2

5. Consolidated Balance Sheet Details (Tables)	3 Months Ended
5. Consolidated Balance Sheet Details (Tables)	Mar. 31, 2021
Balance Sheet Related Disclosures [Abstract]
Schedule of Accounts Receivable	Accounts receivable trade, net Accounts receivable trade, net consisted of the following at March 31, 2021 and December 31, 2020 (in thousands): March 31, December 31, Accounts receivable trade, gross $ 795,923 $ 269,095 Allowance for credit losses (5,827) (3,009) Accounts receivable trade, net $ 790,096 $ 266,086 At March 31, 2021 and December 31, 2020, $63.6 million and $24.4 million, respectively, of our trade accounts receivable were secured by letters of credit, bank guarantees, surety bonds, or other forms of financial security issued by creditworthy financial institutions. Accounts receivable, unbilled, net Accounts receivable, unbilled, net consisted of the following at March 31, 2021 and December 31, 2020 (in thousands): March 31, December 31, Accounts receivable, unbilled $ 27,280 $ 26,673 Allowance for credit losses (276) (303) Accounts receivable, unbilled, net $ 27,004 $ 26,370
Schedule of Allowance for Credit Loss	The following tables present the change in the allowances for credit losses related to our accounts receivable for the three months ended March 31, 2021 and 2020 (in thousands): Three Months Ended Accounts receivable, trade 2021 2020 Allowance for credit losses, beginning of period $ 3,009 $ 1,386 Cumulative-effect adjustment for the adoption of ASU 2016-13 — 171 Provision for the credit losses, net 2,915 2,026 Writeoffs (97) (252) Allowance for credit losses, end of period $ 5,827 $ 3,331 Three Months Ended Accounts receivable, unbilled 2021 2020 Allowance for credit losses, beginning of period $ 303 $ — Cumulative-effect adjustment for the adoption of ASU 2016-13 — 459 Provision for credit losses, net (27) 764 Allowance for credit losses, end of period $ 276 $ 1,223
Schedule of Inventories, Current and Noncurrent	Inventories consisted of the following at March 31, 2021 and December 31, 2020 (in thousands): March 31, December 31, Raw materials $ 307,883 $ 292,334 Work in process 62,898 64,709 Finished goods 384,585 411,773 Inventories $ 755,366 $ 768,816 Inventories – current $ 550,270 $ 567,587 Inventories – noncurrent $ 205,096 $ 201,229
Schedule of Prepaid Expenses and Other Current Assets	Prepaid expenses and other current assets consisted of the following at March 31, 2021 and December 31, 2020 (in thousands): March 31, December 31, Prepaid expenses $ 162,573 $ 160,534 Prepaid income taxes 38,586 71,051 Derivative instruments (1) 7,723 3,315 Restricted cash 2,212 1,745 Other current assets 15,828 15,094 Prepaid expenses and other current assets $ 226,922 $ 251,739 —————————— (1) See Note 6. “Derivative Financial Instruments” to our condensed consolidated financial statements for discussion of our derivative instruments.
Schedule of Property, Plant and Equipment, Net	Property, plant and equipment, net consisted of the following at March 31, 2021 and December 31, 2020 (in thousands): March 31, December 31, Land $ 14,362 $ 14,498 Buildings and improvements 692,493 693,762 Machinery and equipment 2,459,941 2,184,236 Office equipment and furniture 143,885 143,685 Leasehold improvements 43,758 41,459 Construction in progress 194,827 419,766 Property, plant and equipment, gross 3,549,266 3,497,406 Accumulated depreciation (1,151,280) (1,095,121) Property, plant and equipment, net $ 2,397,986 $ 2,402,285
Schedule of PV Solar Power Systems, Net	Photovoltaic (“PV”) solar power systems, net consisted of the following at March 31, 2021 and December 31, 2020 (in thousands): March 31, December 31, PV solar power systems, gross $ 291,998 $ 298,067 Accumulated depreciation (55,582) (54,671) PV solar power systems, net $ 236,416 $ 243,396
Schedule of Project Assets	Project assets consisted of the following at March 31, 2021 and December 31, 2020 (in thousands): March 31, December 31, Project assets – development costs, including project acquisition and land costs $ 136,175 $ 176,346 Project assets – construction costs 155,010 197,031 Project assets $ 291,185 $ 373,377 Project assets – current $ 6,984 $ — Project assets – noncurrent $ 284,201 $ 373,377
Schedule of Other Assets, Noncurrent	Other assets consisted of the following at March 31, 2021 and December 31, 2020 (in thousands): March 31, December 31, Restricted cash $ 258,760 $ 44,847 Operating lease assets (1) 220,689 226,664 Advanced payments for raw materials 95,624 97,883 Accounts receivable, unbilled 53,281 22,722 Indirect tax receivables 17,476 14,849 Other 27,822 27,165 Other assets $ 673,652 $ 434,130 —————————— (1) See Note 7. “Leases” to our condensed consolidated financial statements for discussion of our lease arrangements.
Schedule of Goodwill	Goodwill for the relevant reporting unit consisted of the following at March 31, 2021 and December 31, 2020 (in thousands): December 31, Acquisitions (Impairments) March 31, Modules $ 407,827 $ — $ 407,827 Accumulated impairment losses (393,365) — (393,365) Goodwill $ 14,462 $ — $ 14,462
Schedule of Intangible Assets, Net	The following tables summarize our intangible assets at March 31, 2021 and December 31, 2020 (in thousands): March 31, 2021 Gross Amount Accumulated Amortization Net Amount Developed technology $ 99,964 $ (54,582) $ 45,382 Power purchase agreements 6,486 (1,377) 5,109 Patents 8,173 (5,260) 2,913 Intangible assets, net $ 114,623 $ (61,219) $ 53,404 December 31, 2020 Gross Amount Accumulated Amortization Net Amount Developed technology $ 99,964 $ (52,115) $ 47,849 Power purchase agreements 6,486 (1,296) 5,190 Patents 8,173 (5,074) 3,099 Intangible assets, net $ 114,623 $ (58,485) $ 56,138
Schedule of Accrued Expenses	Accrued expenses consisted of the following at March 31, 2021 and December 31, 2020 (in thousands): March 31, December 31, Accrued project costs $ 51,852 $ 81,380 Accrued property, plant and equipment 35,951 66,543 Accrued inventory 25,591 25,704 Product warranty liability (1) 22,275 22,278 Accrued compensation and benefits 20,794 51,685 Other 61,020 62,877 Accrued expenses $ 217,483 $ 310,467 —————————— (1) See Note 10. “Commitments and Contingencies” to our condensed consolidated financial statements for discussion of our “Product Warranties.”
Schedule of Other Current Liabilities	Other current liabilities consisted of the following at March 31, 2021 and December 31, 2020 (in thousands): March 31, December 31, Operating lease liabilities (1) $ 16,981 $ 14,006 Derivative instruments (2) 2,938 5,280 Other taxes payable 1,851 30,041 Other 19,667 33,710 Other current liabilities $ 41,437 $ 83,037 —————————— (1) See Note 7. “Leases” to our condensed consolidated financial statements for discussion of our lease arrangements. (2) See Note 6. “Derivative Financial Instruments” to our condensed consolidated financial statements for discussion of our derivative instruments.
Schedule of Other Liabilities	Other liabilities consisted of the following at March 31, 2021 and December 31, 2020 (in thousands): March 31, December 31, Operating lease liabilities (1) $ 179,698 $ 189,034 Product warranty liability (2) 71,798 72,818 Deferred revenue 54,963 44,919 Deferred tax liabilities, net 14,668 23,671 Other 41,080 41,784 Other liabilities $ 362,207 $ 372,226 —————————— (1) See Note 7. “Leases” to our condensed consolidated financial statements for discussion of our lease arrangements. (2) See Note 10. “Commitments and Contingencies” to our condensed consolidated financial statements for discussion of our “Product Warranties.”

6. Derivative Financial Instr_2

6. Derivative Financial Instruments (Tables)	3 Months Ended
6. Derivative Financial Instruments (Tables)	Mar. 31, 2021
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value	The following tables present the fair values of derivative instruments included in our condensed consolidated balance sheets as of March 31, 2021 and December 31, 2020 (in thousands): March 31, 2021 Prepaid Expenses and Other Current Assets Other Assets Other Current Liabilities Derivatives designated as hedging instruments: Foreign exchange forward contracts $ 330 $ 22 $ 450 Commodity swap contracts 2,283 — — Total derivatives designated as hedging instruments $ 2,613 $ 22 $ 450 Derivatives not designated as hedging instruments: Foreign exchange forward contracts $ 5,110 $ — $ 2,488 Total derivatives not designated as hedging instruments $ 5,110 $ — $ 2,488 Total derivative instruments $ 7,723 $ 22 $ 2,938 December 31, 2020 Prepaid Expenses and Other Current Assets Other Current Liabilities Other Liabilities Derivatives designated as hedging instruments: Foreign exchange forward contracts $ — $ 2,504 $ 341 Commodity swap contracts 1,478 — — Total derivatives designated as hedging instruments $ 1,478 $ 2,504 $ 341 Derivatives not designated as hedging instruments: Foreign exchange forward contracts $ 1,837 $ 2,776 $ — Total derivatives not designated as hedging instruments $ 1,837 $ 2,776 $ — Total derivative instruments $ 3,315 $ 5,280 $ 341
Schedule of Derivative Instruments, Effect on Other Comprehensive Income (Loss) [Table Text Block]	The following table presents the pretax amounts related to derivative instruments designated as cash flow hedges affecting accumulated other comprehensive income (loss) and our condensed consolidated statements of operations for the three months ended March 31, 2021 and 2020 (in thousands): Foreign Exchange Forward Contracts Commodity Swap Contracts Total Balance as of December 31, 2020 $ (3,644) $ 1,472 $ (2,172) Amounts recognized in other comprehensive income (loss) 1,859 1,024 2,883 Amounts reclassified to earnings impacting: Cost of sales 1,129 7 1,136 Balance as of March 31, 2021 $ (656) $ 2,503 $ 1,847 Balance as of December 31, 2019 $ (962) $ — $ (962) Amounts recognized in other comprehensive income (loss) 768 — 768 Amounts reclassified to earnings impacting: Cost of sales 207 — 207 Balance as of March 31, 2020 $ 13 $ — $ 13
Schedule of Derivative Instruments, Gain (Loss) [Table Text Block]	The following table presents gains and losses related to derivative instruments not designated as hedges affecting our condensed consolidated statements of operations for the three months ended March 31, 2021 and 2020 (in thousands): Amount of Gain (Loss) Recognized in Income Three Months Ended Income Statement Line Item 2021 2020 Foreign exchange forward contracts Cost of sales $ 169 $ 106 Foreign exchange forward contracts Foreign currency loss, net 10,296 (275) Interest rate swap contracts Interest expense, net — (2,404)
Schedule of Notional Amounts of Outstanding Derivative Positions [Table Text Block]	As of March 31, 2021 and December 31, 2020, the notional values associated with our foreign exchange forward contracts qualifying as cash flow hedges were as follows (notional amounts and U.S. dollar equivalents in millions): March 31, 2021 Currency Notional Amount USD Equivalent U.S. dollar (1) $28.8 $28.8 December 31, 2020 Currency Notional Amount USD Equivalent U.S. dollar (1) $43.4 $43.4 —————————— (1) These derivative instruments represent hedges of outstanding payables denominated in U.S. dollars at certain of our foreign subsidiaries whose functional currencies are other than the U.S. dollar.
Schedule of Notional Value of Foreign Exchange Forward Derivatives [Table Text Block]	As of March 31, 2021 and December 31, 2020, the notional values of our foreign exchange forward contracts that do not qualify for hedge accounting were as follows (notional amounts and U.S. dollar equivalents in millions): March 31, 2021 Transaction Currency Notional Amount USD Equivalent Purchase Australian dollar AUD 3.2 $2.4 Purchase Brazilian real BRL 2.6 $0.5 Purchase Chilean peso CLP 1,590.5 $2.2 Sell Chilean peso CLP 4,214.4 $5.8 Purchase Euro €84.2 $98.7 Sell Euro €144.8 $169.7 Sell Indian rupee INR 355.6 $4.8 Purchase Japanese yen ¥2,403.1 $21.8 Sell Japanese yen ¥19,729.5 $178.8 Purchase Malaysian ringgit MYR 25.4 $6.1 Sell Malaysian ringgit MYR 28.7 $6.9 Sell Mexican peso MXN 34.6 $1.7 Purchase Singapore dollar SGD 5.3 $3.9 December 31, 2020 Transaction Currency Notional Amount USD Equivalent Purchase Australian dollar AUD 3.2 $2.5 Purchase Brazilian real BRL 2.6 $0.5 Sell Canadian dollar CAD 8.9 $7.0 Purchase Chilean peso CLP 2,006.0 $2.8 Sell Chilean peso CLP 4,476.7 $6.3 Purchase Euro €140.0 $172.1 Sell Euro €63.6 $78.2 Sell Indian rupee INR 619.2 $8.4 Purchase Japanese yen ¥1,593.7 $15.5 Sell Japanese yen ¥20,656.6 $200.5 Purchase Malaysian ringgit MYR 69.3 $17.2 Sell Malaysian ringgit MYR 24.9 $6.2 Sell Mexican peso MXN 34.6 $1.7 Purchase Singapore dollar SGD 2.9 $2.2

7. Leases (Tables)

7. Leases (Tables)	3 Months Ended
7. Leases (Tables)	Mar. 31, 2021
Leases [Abstract]
Schedule of operating lease cost and related information	The following table presents certain quantitative information related to our lease arrangements for the three months ended March 31, 2021 and 2020, and as of March 31, 2021 and December 31, 2020 (in thousands): Three Months Ended 2021 2020 Operating lease cost $ 4,033 $ 4,178 Variable lease cost 538 666 Short-term lease cost 371 961 Total lease cost $ 4,942 $ 5,805 Payments of amounts included in the measurement of operating lease liabilities $ 4,113 $ 4,897 Lease assets obtained in exchange for operating lease liabilities $ 13,598 $ 17,576 March 31, December 31, Operating lease assets $ 220,689 $ 226,664 Operating lease liabilities – current 16,981 14,006 Operating lease liabilities – noncurrent 179,698 189,034 Weighted-average remaining lease term 20 years 20 years Weighted-average discount rate 2.7 % 2.9 %
Operating lease liability maturity	As of March 31, 2021, the future payments associated with our lease liabilities were as follows (in thousands): Total Lease Liabilities Remainder of 2021 $ 16,317 2022 17,406 2023 16,868 2024 16,493 2025 16,008 2026 14,556 Thereafter 139,512 Total future payments 237,160 Less: interest (40,481) Total lease liabilities $ 196,679

8. Fair Value Measurements (Tab

8. Fair Value Measurements (Tables)	3 Months Ended
8. Fair Value Measurements (Tables)	Mar. 31, 2021
Fair Value Disclosures [Abstract]
Fair value of assets and liabilities measured on a recurring basis	At March 31, 2021 and December 31, 2020, the fair value measurements of our assets and liabilities measured on a recurring basis were as follows (in thousands): Fair Value Measurements at Reporting March 31, Quoted Prices Significant Significant Unobservable Inputs (Level 3) Assets: Cash equivalents: Money market funds $ 2 $ 2 $ — $ — Marketable securities: Foreign debt 194,101 — 194,101 — U.S. debt 18,764 — 18,764 — Time deposits 349,870 349,870 — — Derivative assets 7,745 — 7,745 — Total assets $ 570,482 $ 349,872 $ 220,610 $ — Liabilities: Derivative liabilities $ 2,938 $ — $ 2,938 $ — Fair Value Measurements at Reporting December 31, Quoted Prices Significant Significant Unobservable Inputs (Level 3) Assets: Cash equivalents: Money market funds $ 2 $ 2 $ — $ — Marketable securities: Foreign debt 214,254 — 214,254 — U.S. debt 14,543 — 14,543 — Time deposits 291,269 291,269 — — Restricted marketable securities 265,280 — 265,280 — Derivative assets 3,315 — 3,315 — Total assets $ 788,663 $ 291,271 $ 497,392 $ — Liabilities: Derivative liabilities $ 5,621 $ — $ 5,621 $ —
Carrying value and fair value of financial instruments not measured at fair value	At March 31, 2021 and December 31, 2020, the carrying values and fair values of our financial instruments not measured at fair value were as follows (in thousands): March 31, 2021 December 31, 2020 Carrying Fair Carrying Fair Assets: Accounts receivable, unbilled - noncurrent $ 53,281 $ 47,767 $ 22,722 $ 22,096 Liabilities: Long-term debt, including current maturities (1) $ 264,427 $ 262,442 $ 287,149 $ 297,076 —————————— (1) Excludes unamortized discounts and issuance costs.

9. Debt (Tables)

9. Debt (Tables)	3 Months Ended
9. Debt (Tables)	Mar. 31, 2021
Debt Instruments [Abstract]
Schedule of Long-term Debt Instruments	Our long-term debt consisted of the following at March 31, 2021 and December 31, 2020 (in thousands): Balance (USD) Loan Agreement Currency March 31, December 31, Revolving Credit Facility USD $ — $ — Luz del Norte Credit Facilities USD 185,639 186,230 Japan Credit Facility JPY 34,246 13,813 Tochigi Credit Facility JPY — 39,400 Kyoto Credit Facility JPY 44,542 47,706 Ikeda Credit Facility JPY — — Long-term debt principal 264,427 287,149 Less: unamortized discounts and issuance costs (7,527) (7,918) Total long-term debt 256,900 279,231 Less: current portion (2,453) (41,540) Noncurrent portion $ 254,447 $ 237,691
Schedule of Borrowing Rate on Debt	Our long-term debt borrowing rates as of March 31, 2021 were as follows: Loan Agreement March 31, 2021 Revolving Credit Facility 2.11% Luz del Norte Credit Facilities (1) Fixed rate loans at bank rate plus 3.50% Variable rate loans at 91-Day U.S. Treasury Bill Yield or LIBOR plus 3.50% Japan Credit Facility 1-month TIBOR plus 0.55% Kyoto Credit Facility 1-month TIBOR plus 0.60% Ikeda Credit Facility Fixed rate term loan facility at 1.20% Variable rate term loan facility at 6-month TIBOR plus 0.70% Consumption tax facility at 3-month TIBOR plus 0.50% Debt service reserve facility at 6-month TIBOR plus 1.20% —————————— (1) Outstanding balance comprised of $141.3 million of fixed rate loans and $44.3 million of variable rate loans as of March 31, 2021.
Schedule of Maturities of Long-term Debt	At March 31, 2021, the future principal payments on our long-term debt were due as follows (in thousands): Total Debt Remainder of 2021 $ 1,810 2022 38,281 2023 6,084 2024 51,563 2025 7,560 2026 7,965 Thereafter 151,164 Total long-term debt future principal payments $ 264,427

10. Commitments and Contingen_2

10. Commitments and Contingencies (Tables)	3 Months Ended
10. Commitments and Contingencies (Tables)	Mar. 31, 2021
Commitments and Contingencies Disclosure [Abstract]
Schedule of Product Warranty Liability	Product warranty activities during the three months ended March 31, 2021 and 2020 were as follows (in thousands): Three Months Ended 2021 2020 Product warranty liability, beginning of period $ 95,096 $ 129,797 Accruals for new warranties issued 2,277 2,285 Settlements (3,226) (6,562) Changes in estimate of product warranty liability (74) (1,019) Product warranty liability, end of period $ 94,073 $ 124,501 Current portion of warranty liability $ 22,275 $ 20,399 Noncurrent portion of warranty liability $ 71,798 $ 104,102

11. Revenue from Contracts wi_2

11. Revenue from Contracts with Customers (Tables)	3 Months Ended
11. Revenue from Contracts with Customers (Tables)	Mar. 31, 2021
Revenue from Contract with Customer [Abstract]
Disaggregation of Revenue, by Type of Revenue [Table Text Block]	The following table presents the disaggregation of revenue from contracts with customers for the three months ended March 31, 2021 and 2020 along with the reportable segment for each category (in thousands): Three Months Ended Category Segment 2021 2020 Solar modules Modules $ 534,670 $ 393,681 Solar power systems Systems 226,967 90,076 O&M services Systems 27,235 29,475 Energy generation (1) Systems 14,579 17,973 EPC services (2) Systems (77) 919 Net sales $ 803,374 $ 532,124 —————————— (1) During the three months ended March 31, 2020, the majority of energy generated and sold by our PV solar power systems was accounted for under ASC 840 consistent with the classification of the associated PPAs. (2) For certain of our EPC agreements, we provide an energy performance test during the first or second year of a system’s operation to demonstrate that the actual energy generation for the applicable period meets or exceeds the modeled energy expectation, after certain adjustments. If there is an underperformance event with regard to these tests, we may incur liquidated damages as specified in the applicable EPC agreement. During the three months ended March 31, 2021 we accrued liquidated damages for certain of these arrangements, which we recognized as a reduction to revenue. See Note 10. “Commitments and Contingencies” to our condensed consolidated financial statements for discussion of our performance guarantee arrangements.
Changes in Estimates Systems Business [Table Text Block]	The following table outlines the impact on revenue of net changes in estimated transaction prices and input costs for systems related sales contracts (both increases and decreases) for the three months ended March 31, 2021 and 2020 as well as the number of projects that comprise such changes. For purposes of the table, we only include projects with changes in estimates that have a net impact on revenue of at least $1.0 million during the periods presented. Also included in the table is the net change in estimate as a percentage of the aggregate revenue for such projects. Three Months Ended 2021 2020 Number of projects 4 2 Increase (decrease) in revenue from net changes in transaction prices (in thousands) $ 1,634 $ (762) Increase in revenue from net changes in input cost estimates (in thousands) — 1,885 Net increase in revenue from net changes in estimates (in thousands) $ 1,634 $ 1,123 Net change in estimate as a percentage of aggregate revenue 0.1 % 0.3 %
Changes in Contract Assets and Liabilities [Table Text Block]	The following table reflects the changes in our contract assets, which we classify as “Accounts receivable, unbilled,” and our contract liabilities, which we classify as “Deferred revenue,” for the three months ended March 31, 2021. As of December 31, 2020, these balances excluded any assets or liabilities classified as held for sale (in thousands): March 31, December 31, Three Month Change Accounts receivable, unbilled (1) $ 80,561 $ 49,395 Allowance for credit losses (276) (303) Accounts receivable, unbilled, net $ 80,285 $ 49,092 $ 31,193 64 % Deferred revenue (2) $ 261,493 $ 233,732 $ 27,761 12 % —————————— (1) Includes $53.3 million and $22.7 million of non-current accounts receivable, unbilled classified as “Other assets” on our condensed consolidated balance sheets as of March 31, 2021 and December 31, 2020, respectively. (2) Includes $55.0 million and $44.9 million of non-current deferred revenue classified as “Other liabilities” on our condensed consolidated balance sheets as of March 31, 2021 and December 31, 2020, respectively.

12. Share-Based Compensation (T

12. Share-Based Compensation (Tables)	3 Months Ended
12. Share-Based Compensation (Tables)	Mar. 31, 2021
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Abstract]
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Table Text Block]	The following table presents share-based compensation expense recognized in our condensed consolidated statements of operations for the three months ended March 31, 2021 and 2020 (in thousands): Three Months Ended 2021 2020 Cost of sales (1) $ (92) $ 1,212 Selling, general and administrative (1) 4,515 4,709 Research and development (2) (1,308) 1,283 Total share-based compensation expense $ 3,115 $ 7,204 —————————— (1) On March 31, 2021, we completed the sales of our North American O&M operations and U.S. project development business, which resulted in the forfeiture of unvested shares for associates (our term for full and part-time employees) departing the Company as part of the transactions. See Note 2. “Sales of Businesses” to our condensed consolidated financial statements for further information related to these transactions. (2) Effective March 15, 2021, our former Chief Technology Officer retired from the Company, which resulted in the forfeiture of his unvested shares during the three months ended March 31, 2021.

14. Net Income Per Share (Table

14. Net Income Per Share (Tables)	3 Months Ended
14. Net Income Per Share (Tables)	Mar. 31, 2021
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted	The calculation of basic and diluted net income per share for the three months ended March 31, 2021 and 2020 was as follows (in thousands, except per share amounts): Three Months Ended 2021 2020 Basic net income per share Numerator: Net income $ 209,671 $ 90,704 Denominator: Weighted-average common shares outstanding 106,088 105,595 Diluted net income per share Denominator: Weighted-average common shares outstanding 106,088 105,595 Effect of restricted and performance units and stock purchase plan shares 802 791 Weighted-average shares used in computing diluted net income per share 106,890 106,386 Net income per share: Basic $ 1.98 $ 0.86 Diluted $ 1.96 $ 0.85

15. Accumulated Other Compreh_2

15. Accumulated Other Comprehensive Loss (Tables)	3 Months Ended
15. Accumulated Other Comprehensive Loss (Tables)	Mar. 31, 2021
Other Comprehensive Income (Loss), Net of Tax [Abstract]
Schedule of Accumulated Other Comprehensive Loss	The following table presents the changes in accumulated other comprehensive loss, net of tax, for the three months ended March 31, 2021 (in thousands): Foreign Currency Translation Adjustment Unrealized Gain (Loss) on Marketable Securities and Restricted Marketable Securities Unrealized Gain (Loss) on Derivative Instruments Total Balance as of December 31, 2020 $ (76,239) $ 16,630 $ (2,117) $ (61,726) Other comprehensive (loss) income before reclassifications (10,191) (6,015) 2,883 (13,323) Amounts reclassified from accumulated other comprehensive loss 475 (11,696) 1,136 (10,085) Net tax effect — 1,121 (637) 484 Net other comprehensive (loss) income (9,716) (16,590) 3,382 (22,924) Balance as of March 31, 2021 $ (85,955) $ 40 $ 1,265 $ (84,650)
Reclassification out of Accumulated Other Comprehensive Loss	The following table presents the pretax amounts reclassified from accumulated other comprehensive loss into our condensed consolidated statements of operations for the three months ended March 31, 2021 and 2020 (in thousands): Comprehensive Income Components Income Statement Line Item Three Months Ended 2021 2020 Foreign currency translation adjustment Other income (expense), net $ (475) $ — Unrealized gain on marketable securities and restricted marketable securities Other income (expense), net 11,696 15,088 Unrealized loss on derivative contracts: Foreign exchange forward contracts Cost of sales (1,129) (207) Commodity swap contracts Cost of sales (7) — Total unrealized loss on derivative contracts (1,136) (207) Total gain reclassified $ 10,085 $ 14,881

16. Segment Reporting (Tables)

16. Segment Reporting (Tables)	3 Months Ended
16. Segment Reporting (Tables)	Mar. 31, 2021
Segment Reporting Information, Profit (Loss) [Abstract]
Schedule of Segment Reporting Information, by Segment	The following tables present certain financial information for our reportable segments for the three months ended March 31, 2021 and 2020 and as of March 31, 2021 and December 31, 2020 (in thousands): Three Months Ended March 31, 2021 Three Months Ended March 31, 2020 Modules Systems Total Modules Systems Total Net sales $ 534,670 $ 268,704 $ 803,374 $ 393,681 $ 138,443 $ 532,124 Gross profit 100,440 84,327 184,767 75,352 14,986 90,338 Depreciation and amortization expense 50,724 3,097 53,821 44,673 6,258 50,931 March 31, 2021 December 31, 2020 Modules Systems Total Modules Systems Total Goodwill $ 14,462 $ — $ 14,462 $ 14,462 $ — $ 14,462

2. Sales of Businesses (Details

2. Sales of Businesses (Details) - USD ($) $ in Thousands	3 Months Ended
2. Sales of Businesses (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Proceeds from sales of businesses	$ 145,969	$ 0
Net sales	803,374	532,124
Module sales, advanced payments	206,530		$ 188,813
Gain on sales of businesses, net	150,895	0
Solar Modules [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Net sales	534,670	$ 393,681
North American Operations and Maintenance Business
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Purchase price, sale of business	151,500
Proceeds from sales of businesses	146,000
Gain on sales of businesses, net	119,200
U.S. Project Development Business
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Purchase price, sale of business	151,400
Purchase price, sale of U.S. Project Development business and modules	284,000
Gain on sales of businesses, net	31,800
U.S. Project Development Business \| Solar Modules [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Net sales	100,500
Module sales, advanced payments	$ 32,100

3. Cash, Cash Equivalents, an_3

3. Cash, Cash Equivalents, and Marketable Securities (Details) - Cash, Cash Equivalents, and Marketable Securities - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020	Dec. 31, 2019
Cash, Cash Equivalents, and Marketable Securities [Line Items]
Cash and cash equivalents	$ 972,879		$ 1,227,002
Marketable securities	562,735		520,066
Total cash, cash equivalents, and marketable securities	1,535,614		1,747,068
Restricted cash - current	2,212		1,745
Restricted cash - noncurrent	258,760		44,847
Cash, cash equivalents, and restricted cash	1,233,851	$ 1,018,878	1,273,594	$ 1,446,510
Marketable Securities, Sale Proceeds	5,500	$ 130,800
Marketable Securities, Realized Gain	100
Foreign debt [Member]
Cash, Cash Equivalents, and Marketable Securities [Line Items]
Marketable securities	194,101		214,254
U.S. debt [Member]
Cash, Cash Equivalents, and Marketable Securities [Line Items]
Marketable securities	18,764		14,543
Time deposits [Member]
Cash, Cash Equivalents, and Marketable Securities [Line Items]
Marketable securities	349,870		291,269
Cash [Member]
Cash, Cash Equivalents, and Marketable Securities [Line Items]
Cash and cash equivalents	972,877		1,227,000
Money market funds [Member]
Cash, Cash Equivalents, and Marketable Securities [Line Items]
Cash and cash equivalents	$ 2		$ 2

3. Cash, Cash Equivalents, an_4

3. Cash, Cash Equivalents, and Marketable Securities (Details) - Marketable Securities - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Mar. 31, 2021	Jan. 01, 2021	Dec. 31, 2020	Jan. 01, 2020
Debt Securities, Available-for-sale [Line Items]
Debt Securities, Available-for-sale, Amortized Cost			$ 562,880		$ 519,844
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax			286		389
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax			293		46
Marketable Securities, Allowance for Credit Loss	$ 138	$ 215	138		121
Marketable securities			562,735		520,066
Debt Securities, Available-for-sale, Allowance for Credit Loss [Line Items]
Debt Securities, Available-for-sale, Allowance for Credit Loss, Beginning Balance	121	0
Debt Securities, Available-for-sale, Allowance for Credit Loss, Cumulative-Effect Adjustment for the Adoption of ASU 2016-13				$ 0		$ 207
Debt Securities, Available-for-sale, Allowance for Credit Loss, Period Increase (Decrease)	122	180
Debt Securities, Available-for-sale, Allowance for Credit Loss, Securities Sold	(105)	(172)
Debt Securities, Available-for-sale, Allowance for Credit Loss, Ending Balance	138	215
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Rolling within One Year			458,537
Debt securities, Available-for-sale, Debt Maturities, Rolling Year One Through Two			94,472
Debt securities, Available-for-sale, Debt Maturities, Rolling Year Two Through Three			0
Debt Securities, Available-for-sale, Maturities, Rolling Year Three Through Four			0
Debt Securities, Available-for-sale, Maturities, Rolling Year Four Through Five			4,950
Debt Securities, Available-for-sale, Maturities, Rolling Year More Than Five			4,776
Marketable Securities, Realized Loss		$ (100)
Foreign debt [Member]
Debt Securities, Available-for-sale [Line Items]
Debt Securities, Available-for-sale, Amortized Cost			193,860		213,949
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax			268		367
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax			21		46
Marketable Securities, Allowance for Credit Loss	16		6		16
Marketable securities			194,101		214,254
Debt Securities, Available-for-sale, Allowance for Credit Loss [Line Items]
Debt Securities, Available-for-sale, Allowance for Credit Loss, Beginning Balance	16
Debt Securities, Available-for-sale, Allowance for Credit Loss, Ending Balance	6
U.S. debt [Member]
Debt Securities, Available-for-sale [Line Items]
Debt Securities, Available-for-sale, Amortized Cost			19,020		14,521
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax			18		22
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax			272		0
Marketable Securities, Allowance for Credit Loss	0		2		0
Marketable securities			18,764		14,543
Debt Securities, Available-for-sale, Allowance for Credit Loss [Line Items]
Debt Securities, Available-for-sale, Allowance for Credit Loss, Beginning Balance	0
Debt Securities, Available-for-sale, Allowance for Credit Loss, Ending Balance	2
Time deposits [Member]
Debt Securities, Available-for-sale [Line Items]
Debt Securities, Available-for-sale, Amortized Cost			350,000		291,374
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax			0		0
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax			0		0
Marketable Securities, Allowance for Credit Loss	105		130		105
Marketable securities			$ 349,870		$ 291,269
Debt Securities, Available-for-sale, Allowance for Credit Loss [Line Items]
Debt Securities, Available-for-sale, Allowance for Credit Loss, Beginning Balance	105
Debt Securities, Available-for-sale, Allowance for Credit Loss, Ending Balance	$ 130

4. Restricted Marketable Secu_3

4. Restricted Marketable Securities (Details) - Restricted Marketable Securities - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020	Dec. 31, 2019
Debt Securities, Available-for-sale [Line Items]
Restricted marketable securities	$ 0		$ 265,280
Restricted cash - noncurrent	$ 258,760		44,847
Product minimum service life	25 years
Gains on sales of marketable securities and restricted marketable securities	$ 11,696	$ 15,088
Marketable Securities, Allowance for Credit Loss	138	215	121	$ 0
Cash Held In Trust [Member]
Debt Securities, Available-for-sale [Line Items]
Restricted cash - noncurrent	254,700		700
Restricted Debt Securities [Member]
Debt Securities, Available-for-sale [Line Items]
Restricted marketable securities	0		265,280
Proceeds from sale of restricted marketable securities	258,900	115,200
Gains on sales of marketable securities and restricted marketable securities	11,700	15,100
Payments to Acquire Restricted Marketable Securities		114,500
Marketable Securities, Allowance for Credit Loss	0	$ 30	13	$ 0
Restricted Debt Securities [Member] \| Foreign government obligations [Member]
Debt Securities, Available-for-sale [Line Items]
Restricted marketable securities	0		149,700
Marketable Securities, Allowance for Credit Loss			0
Restricted Debt Securities [Member] \| US Government Debt Securities [Member]
Debt Securities, Available-for-sale [Line Items]
Restricted marketable securities	$ 0		115,580
Marketable Securities, Allowance for Credit Loss			$ 13

4. Restricted Marketable Secu_4

4. Restricted Marketable Securities (Details) - Available for sale - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Mar. 31, 2021	Jan. 01, 2021	Dec. 31, 2020	Jan. 01, 2020
Debt Securities, Available-for-sale [Line Items]
Debt Securities, Available-for-sale, Amortized Cost			$ 562,880		$ 519,844
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax			286		389
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax			293		46
Marketable Securities, Allowance for Credit Loss	$ 138	$ 215	138		121
Restricted marketable securities			0		265,280
Restricted available for sale securities, allowance for credit losses [Line Items]
Debt Securities, Available-for-sale, Allowance for Credit Loss, Beginning Balance	121	0
Cumulative effect adjustment for the adoption of ASU 2016-13				$ 0		$ (207)
Debt Securities, Available-for-sale, Allowance for Credit Loss, Period Increase (Decrease)	122	180
Debt Securities, Available-for-sale, Allowance for Credit Loss, Securities Sold	(105)	(172)
Debt Securities, Available-for-sale, Allowance for Credit Loss, Ending Balance	138	215
Restricted Debt Securities [Member]
Debt Securities, Available-for-sale [Line Items]
Debt Securities, Available-for-sale, Amortized Cost			0		247,628
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax					17,853
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax					188
Marketable Securities, Allowance for Credit Loss	13	30	0		13
Restricted marketable securities			0		265,280
Restricted available for sale securities, allowance for credit losses [Line Items]
Debt Securities, Available-for-sale, Allowance for Credit Loss, Beginning Balance	13	0
Cumulative effect adjustment for the adoption of ASU 2016-13				$ 0		$ (54)
Debt Securities, Available-for-sale, Allowance for Credit Loss, Period Increase (Decrease)	16	1
Debt Securities, Available-for-sale, Allowance for Credit Loss, Securities Sold	(29)	(25)
Debt Securities, Available-for-sale, Allowance for Credit Loss, Ending Balance	0	$ 30
Foreign government obligations [Member] \| Restricted Debt Securities [Member]
Debt Securities, Available-for-sale [Line Items]
Debt Securities, Available-for-sale, Amortized Cost					131,980
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax					17,720
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax					0
Marketable Securities, Allowance for Credit Loss	0				0
Restricted marketable securities			0		149,700
Restricted available for sale securities, allowance for credit losses [Line Items]
Debt Securities, Available-for-sale, Allowance for Credit Loss, Beginning Balance	0
US Government Debt Securities [Member] \| Restricted Debt Securities [Member]
Debt Securities, Available-for-sale [Line Items]
Debt Securities, Available-for-sale, Amortized Cost					115,648
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax					133
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax					188
Marketable Securities, Allowance for Credit Loss	13				13
Restricted marketable securities			$ 0		$ 115,580
Restricted available for sale securities, allowance for credit losses [Line Items]
Debt Securities, Available-for-sale, Allowance for Credit Loss, Beginning Balance	$ 13

5. Consolidated Balance Sheet_3

5. Consolidated Balance Sheet Details (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Jan. 01, 2021	Dec. 31, 2020	Jan. 01, 2020	Dec. 31, 2019
Accounts receivable, trade, and unbilled
Accounts receivable trade, gross	$ 795,923			$ 269,095
Accounts Receivable Trade, Allowance for credit losses	(5,827)	$ (3,331)		(3,009)		$ (1,386)
Accounts receivable trade, net	790,096			266,086
Secured accounts receivable	63,600			24,400
Accounts receivable, unbilled	27,280			26,673
Accounts receivable, unbilled, allowance for credit losses	(276)	(1,223)		(303)		0
Accounts receivable, unbilled, net	27,004			26,370
Allowance for Credit Loss [Abstract]
Accounts Receivable, Allowance for Credit Loss, Cumulative-effect adjustment for adoption of ASU 2016-13			$ 0		$ (171)
Accounts Receivable Trade, Provision for the credit losses, net	(2,915)	(2,026)
Accounts Receivable Trade, Writeoffs	97	252
Accounts Receivable Trade, Allowance for credit losses	(5,827)	(3,331)		(3,009)		(1,386)
Accounts receivable, unbilled, allowance for credit losses	(276)	(1,223)		(303)		$ 0
Accounts Receivable, Unbilled, Allowance for Credit Loss, Cumulative-effect adjustment for adoption of ASU 2016-13			$ 0		$ (459)
Accounts Receivable, Unbilled, Allowance for Credit Loss, Period Increase (Decrease)	27	(764)
Inventories and balance of systems parts
Raw materials	307,883			292,334
Work in process	62,898			64,709
Finished goods	384,585			411,773
Inventories	755,366			768,816
Inventories - current	550,270			567,587
Inventories - noncurrent	205,096			201,229
Prepaid expenses and other current assets
Prepaid expenses	162,573			160,534
Prepaid income taxes	38,586			71,051
Derivative instruments	7,723			3,315
Restricted cash	2,212			1,745
Other current assets	15,828			15,094
Prepaid expenses and other current assets	226,922			251,739
Property, plant and equipment, net
Property, plant and equipment, gross	3,549,266			3,497,406
Accumulated depreciation	(1,151,280)			(1,095,121)
Property, plant and equipment, net	2,397,986			2,402,285
PV solar power systems, net
PV solar power systems, gross	291,998			298,067
Accumulated depreciation	(55,582)			(54,671)
PV solar power systems, net	236,416			243,396
Project assets
Project assets - development costs, including project acquisition and land costs	136,175			176,346
Project assets - construction costs	155,010			197,031
Total project assets	291,185			373,377
Project assets - current	6,984			0
Project assets - noncurrent	284,201			373,377
Other assets
Restricted cash - noncurrent	258,760			44,847
Operating lease assets	220,689			226,664
Advanced payments for raw materials	95,624			97,883
Accounts receivable, unbilled - noncurrent	53,281			22,722
Indirect tax receivables	17,476			14,849
Other	27,822			27,165
Other assets	673,652			434,130
Goodwill
Goodwill	14,462			14,462
Goodwill, period increase (decrease)	0
Intangibles assets, net
Intangible assets, gross	114,623			114,623
Intangible assets, accumulated amortization	(61,219)			(58,485)
Intangibles assets, net	53,404			56,138
Amortization of intangible assets	2,700	2,600
Accrued expenses
Accrued project assets	51,852			81,380
Accrued property, plant and equipment	35,951			66,543
Accrued inventory	25,591			25,704
Product warranty liability	22,275			22,278
Accrued compensation and benefits	20,794			51,685
Other	61,020			62,877
Accrued expenses	217,483			310,467
Other current liabilities
Operating lease liabilities, current	16,981			14,006
Derivative instruments	2,938			5,280
Other taxes payable, current	1,851			30,041
Other	19,667			33,710
Other current liabilities	41,437			83,037
Other liabilities
Operating lease liabilities, noncurrent	179,698			189,034
Product warranty liability	71,798			72,818
Deferred revenue, noncurrent	54,963			44,919
Deferred income tax liabilities, net	14,668			23,671
Other	41,080			41,784
Other liabilities	362,207			372,226
Developed Technology [Member]
Intangibles assets, net
Intangible assets, gross	99,964			99,964
Intangible assets, accumulated amortization	(54,582)			(52,115)
Intangibles assets, net	45,382			47,849
Power Purchase Agreements [Member]
Intangibles assets, net
Intangible assets, gross	6,486			6,486
Intangible assets, accumulated amortization	(1,377)			(1,296)
Intangibles assets, net	5,109			5,190
Patents [Member]
Intangibles assets, net
Intangible assets, gross	8,173			8,173
Intangible assets, accumulated amortization	(5,260)			(5,074)
Intangibles assets, net	2,913			3,099
Modules Segment [Member]
Goodwill
Goodwill, Gross	407,827			407,827
Accumulated impairment loss	(393,365)			(393,365)
Goodwill	14,462			14,462
Goodwill from acquisition	0
Goodwill impairment	0
Property, Plant and Equipment [Member]
Property, plant and equipment, net
Depreciation	56,800	47,400
PV solar power systems [Member]
Property, plant and equipment, net
Depreciation	3,000	$ 5,800
Land [Member]
Property, plant and equipment, net
Property, plant and equipment, gross	14,362			14,498
Building and improvements [Member]
Property, plant and equipment, net
Property, plant and equipment, gross	692,493			693,762
Machinery and equipment [Member]
Property, plant and equipment, net
Property, plant and equipment, gross	2,459,941			2,184,236
Office equipment and furniture [Member]
Property, plant and equipment, net
Property, plant and equipment, gross	143,885			143,685
Leasehold improvements [Member]
Property, plant and equipment, net
Property, plant and equipment, gross	43,758			41,459
Construction in progress [Member]
Property, plant and equipment, net
Property, plant and equipment, gross	$ 194,827			$ 419,766

6. Derivative Financial Instr_3

6. Derivative Financial Instruments (Details) - Summary - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Prepaid Expenses and Other Current Assets [Member]
Derivatives, Fair Value [Line Items]
Derivative Assets (Liabilities), at Fair Value, Net	$ 7,723	$ 3,315
Prepaid Expenses and Other Current Assets [Member] \| Designated as Hedging Instrument [Member]
Derivatives, Fair Value [Line Items]
Derivative Asset, Fair Value, Gross Asset	2,613	1,478
Prepaid Expenses and Other Current Assets [Member] \| Not Designated as Hedging Instrument [Member]
Derivatives, Fair Value [Line Items]
Derivative Asset, Fair Value, Gross Asset	5,110	1,837
Other Assets [Member]
Derivatives, Fair Value [Line Items]
Derivative Assets (Liabilities), at Fair Value, Net	22
Other Assets [Member] \| Designated as Hedging Instrument [Member]
Derivatives, Fair Value [Line Items]
Derivative Asset, Fair Value, Gross Asset	22
Other Assets [Member] \| Not Designated as Hedging Instrument [Member]
Derivatives, Fair Value [Line Items]
Derivative Asset, Fair Value, Gross Asset	0
Other Current Liabilities [Member]
Derivatives, Fair Value [Line Items]
Derivative Assets (Liabilities), at Fair Value, Net	(2,938)	(5,280)
Other Current Liabilities [Member] \| Designated as Hedging Instrument [Member]
Derivatives, Fair Value [Line Items]
Derivative Liability, Fair Value, Gross Liability	450	2,504
Other Current Liabilities [Member] \| Not Designated as Hedging Instrument [Member]
Derivatives, Fair Value [Line Items]
Derivative Liability, Fair Value, Gross Liability	2,488	2,776
Other Liabilities [Member]
Derivatives, Fair Value [Line Items]
Derivative Assets (Liabilities), at Fair Value, Net		(341)
Other Liabilities [Member] \| Designated as Hedging Instrument [Member]
Derivatives, Fair Value [Line Items]
Derivative Liability, Fair Value, Gross Liability		341
Other Liabilities [Member] \| Not Designated as Hedging Instrument [Member]
Derivatives, Fair Value [Line Items]
Derivative Liability, Fair Value, Gross Liability		0
Foreign exchange forward contracts [Member] \| Prepaid Expenses and Other Current Assets [Member] \| Designated as Hedging Instrument [Member]
Derivatives, Fair Value [Line Items]
Derivative Asset, Fair Value, Gross Asset	330	0
Foreign exchange forward contracts [Member] \| Prepaid Expenses and Other Current Assets [Member] \| Not Designated as Hedging Instrument [Member]
Derivatives, Fair Value [Line Items]
Derivative Asset, Fair Value, Gross Asset	5,110	1,837
Foreign exchange forward contracts [Member] \| Other Assets [Member] \| Designated as Hedging Instrument [Member]
Derivatives, Fair Value [Line Items]
Derivative Asset, Fair Value, Gross Asset	22
Foreign exchange forward contracts [Member] \| Other Assets [Member] \| Not Designated as Hedging Instrument [Member]
Derivatives, Fair Value [Line Items]
Derivative Asset, Fair Value, Gross Asset	0
Foreign exchange forward contracts [Member] \| Other Current Liabilities [Member] \| Designated as Hedging Instrument [Member]
Derivatives, Fair Value [Line Items]
Derivative Liability, Fair Value, Gross Liability	450	2,504
Foreign exchange forward contracts [Member] \| Other Current Liabilities [Member] \| Not Designated as Hedging Instrument [Member]
Derivatives, Fair Value [Line Items]
Derivative Liability, Fair Value, Gross Liability	2,488	2,776
Foreign exchange forward contracts [Member] \| Other Liabilities [Member] \| Designated as Hedging Instrument [Member]
Derivatives, Fair Value [Line Items]
Derivative Liability, Fair Value, Gross Liability		341
Foreign exchange forward contracts [Member] \| Other Liabilities [Member] \| Not Designated as Hedging Instrument [Member]
Derivatives, Fair Value [Line Items]
Derivative Liability, Fair Value, Gross Liability		0
Commodity swap contracts \| Prepaid Expenses and Other Current Assets [Member] \| Designated as Hedging Instrument [Member]
Derivatives, Fair Value [Line Items]
Derivative Asset, Fair Value, Gross Asset	2,283	1,478
Commodity swap contracts \| Other Assets [Member] \| Designated as Hedging Instrument [Member]
Derivatives, Fair Value [Line Items]
Derivative Asset, Fair Value, Gross Asset	0
Commodity swap contracts \| Other Current Liabilities [Member] \| Designated as Hedging Instrument [Member]
Derivatives, Fair Value [Line Items]
Derivative Liability, Fair Value, Gross Liability	$ 0	0
Commodity swap contracts \| Other Liabilities [Member] \| Designated as Hedging Instrument [Member]
Derivatives, Fair Value [Line Items]
Derivative Liability, Fair Value, Gross Liability		$ 0

6. Derivative Financial Instr_4

6. Derivative Financial Instruments (Details) - Hedging Relationship - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020	Dec. 31, 2019
Designated as Hedging Instrument [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Balance in accumulated other comprehensive income (loss)	$ 1,847	$ 13	$ (2,172)	$ (962)
Amounts recognized in other comprehensive income (loss)	2,883	768
Designated as Hedging Instrument [Member] \| Cost of sales
Derivative Instruments, Gain (Loss) [Line Items]
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net	1,136	207
Foreign exchange forward contracts [Member] \| Designated as Hedging Instrument [Member] \| Cash Flow Hedging [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Balance in accumulated other comprehensive income (loss)	(656)	13	(3,644)	(962)
Amounts recognized in other comprehensive income (loss)	1,859	768
Foreign exchange forward contracts [Member] \| Designated as Hedging Instrument [Member] \| Cash Flow Hedging [Member] \| Cost of sales
Derivative Instruments, Gain (Loss) [Line Items]
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net	1,129	207
Derivative Instruments, Gain (Loss) Recognized in Income, Amount Excluded from Effectiveness Testing, Net	(100)	800
Foreign exchange forward contracts [Member] \| Not Designated as Hedging Instrument [Member] \| Cost of sales
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, Gain (Loss) on Derivative, Net	169	106
Foreign exchange forward contracts [Member] \| Not Designated as Hedging Instrument [Member] \| Foreign currency loss, net
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, Gain (Loss) on Derivative, Net	10,296	(275)
Commodity swap contracts \| Designated as Hedging Instrument [Member] \| Cash Flow Hedging [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Balance in accumulated other comprehensive income (loss)	2,503	0	$ 1,472	$ 0
Amounts recognized in other comprehensive income (loss)	1,024	0
Commodity swap contracts \| Designated as Hedging Instrument [Member] \| Cash Flow Hedging [Member] \| Cost of sales
Derivative Instruments, Gain (Loss) [Line Items]
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net	7	0
Interest rate swap contract [Member] \| Not Designated as Hedging Instrument [Member] \| Interest expense, net
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, Gain (Loss) on Derivative, Net	$ 0	$ (2,404)

6. Derivative Financial Instr_5

6. Derivative Financial Instruments (Details) - Risk Management - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Mar. 31, 2021	Dec. 31, 2020	Aug. 31, 2020
Foreign exchange forward contracts [Member]
Derivatives, Fair Value [Line Items]
Maximum length of time hedged in foreign currency cash flow hedge	17 months	20 months
Foreign exchange forward contracts [Member] \| Cash Flow Hedging [Member]
Derivatives, Fair Value [Line Items]
Foreign Currency Cash Flow Hedge Gain (Loss) to be Reclassified During Next 12 Months	$ (0.7)
Foreign exchange forward contracts [Member] \| Cash Flow Hedging [Member] \| United States of America, Dollars
Derivatives, Fair Value [Line Items]
Derivative, Notional Amount	28.8	$ 43.4
Commodity swap contracts \| Cash Flow Hedging [Member]
Derivatives, Fair Value [Line Items]
Derivative, Notional Amount	6.2		$ 24.9
Cash Flow Hedge Gain (Loss) to be Reclassified within Twelve Months	$ 2.5

6. Derivative Financial Instr_6

6. Derivative Financial Instruments (Details) - Transaction Exposure - Foreign exchange forward contracts [Member] - Not Designated as Hedging Instrument [Member] € in Millions, ₨ in Millions, ¥ in Millions, RM in Millions, R$ in Millions, $ in Millions, $ in Millions, $ in Millions, $ in Millions, $ in Millions, $ in Millions

3 Months Ended

12 Months Ended

Mar. 31, 2021USD ($)

Dec. 31, 2020USD ($)

Mar. 31, 2021AUD ($)

Mar. 31, 2021BRL (R$)

Mar. 31, 2021CLP ($)

Mar. 31, 2021EUR (€)

Mar. 31, 2021INR (₨)

Mar. 31, 2021JPY (¥)

Mar. 31, 2021MYR (RM)

Mar. 31, 2021MXN ($)

Mar. 31, 2021SGD ($)

Dec. 31, 2020AUD ($)

Dec. 31, 2020BRL (R$)

Dec. 31, 2020CLP ($)

Dec. 31, 2020EUR (€)

Dec. 31, 2020INR (₨)

Dec. 31, 2020JPY (¥)

Dec. 31, 2020MYR (RM)

Dec. 31, 2020MXN ($)

Dec. 31, 2020SGD ($)

Dec. 31, 2020CAD ($)

Australia, Dollars

Derivative [Line Items]

Derivative, Currency Bought

Australian dollar

Brazil, Brazil Real

Derivative [Line Items]

Derivative, Currency Bought

Brazilian real

Canada, Dollars

Derivative [Line Items]

Derivative, Currency Sold

Canadian dollar

Chile, Pesos

Derivative [Line Items]

Derivative, Currency Bought

Chilean peso

Derivative, Currency Sold

Chilean peso

Euro Member Countries, Euro

Derivative [Line Items]

Derivative, Currency Bought

Euro

Derivative, Currency Sold

Euro

India, Rupees

Derivative [Line Items]

Derivative, Currency Sold

Indian rupee

Japan, Yen

Derivative [Line Items]

Derivative, Currency Bought

Japanese yen

Derivative, Currency Sold

Japanese yen

Malaysia, Ringgits

Derivative [Line Items]

Derivative, Currency Bought

Malaysian ringgit

Derivative, Currency Sold

Malaysian ringgit

Mexico, Pesos

Derivative [Line Items]

Derivative, Currency Sold

Mexican peso

Singapore, Dollars

Derivative [Line Items]

Derivative, Currency Bought

Singapore dollar

Long [Member] | Australia, Dollars

Derivative [Line Items]

Derivative, Notional Amount

$ 2.4

$ 2.5

$ 3.2

Long [Member] | Brazil, Brazil Real

Derivative [Line Items]

Derivative, Notional Amount

0.5

R$ 2.6

Long [Member] | Chile, Pesos

Derivative [Line Items]

Derivative, Notional Amount

2.2

2.8

$ 1,590.5

$ 2,006

Long [Member] | Euro Member Countries, Euro

Derivative [Line Items]

Derivative, Notional Amount

98.7

172.1

€ 84.2

€ 140

Long [Member] | Japan, Yen

Derivative [Line Items]

Derivative, Notional Amount

21.8

15.5

¥ 2,403.1

¥ 1,593.7

Long [Member] | Malaysia, Ringgits

Derivative [Line Items]

Derivative, Notional Amount

6.1

17.2

RM 25.4

RM 69.3

Long [Member] | Singapore, Dollars

Derivative [Line Items]

Derivative, Notional Amount

3.9

2.2

$ 5.3

$ 2.9

Short [Member] | Canada, Dollars

Derivative [Line Items]

Derivative, Notional Amount

$ 8.9

Short [Member] | Chile, Pesos

Derivative [Line Items]

Derivative, Notional Amount

5.8

6.3

$ 4,214.4

$ 4,476.7

Short [Member] | Euro Member Countries, Euro

Derivative [Line Items]

Derivative, Notional Amount

169.7

78.2

€ 144.8

€ 63.6

Short [Member] | India, Rupees

Derivative [Line Items]

Derivative, Notional Amount

4.8

8.4

₨ 355.6

₨ 619.2

Short [Member] | Japan, Yen

Derivative [Line Items]

Derivative, Notional Amount

178.8

200.5

¥ 19,729.5

¥ 20,656.6

Short [Member] | Malaysia, Ringgits

Derivative [Line Items]

Derivative, Notional Amount

6.9

6.2

RM 28.7

RM 24.9

Short [Member] | Mexico, Pesos

Derivative [Line Items]

Derivative, Notional Amount

$ 1.7

$ 34.6

7. Leases (Details)

7. Leases (Details) - USD ($) $ in Thousands	3 Months Ended
7. Leases (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020
Leases [Abstract]
Operating lease cost	$ 4,033	$ 4,178
Variable lease cost	538	666
Short-term lease cost	371	961
Total lease cost	4,942	5,805
Payments of amounts included in the measurement of operating lease liabilities	4,113	4,897
Lease assets obtained in exchange for operating lease liabilities	13,598	$ 17,576
Operating lease assets	220,689		$ 226,664
Operating lease liabilities, current	16,981		14,006
Operating lease liabilities, noncurrent	$ 179,698		$ 189,034
Weighted-average remaining lease term	20 years		20 years
Weighted-average discount rate	2.70%		2.90%
Operating lease liabilities, future payments, remainder of 2021	$ 16,317
Operating lease liabilities, future payments, due 2022	17,406
Operating lease liabilities, future payments, due 2023	16,868
Operating lease liabilities, future payments, due 2024	16,493
Operating lease liabilities, future payments, due 2025	16,008
Operating lease liabilities, future payments, due 2026	14,556
Operating lease liabilities, future payments, due after 2026	139,512
Total future payments	237,160
Less: interest	(40,481)
Total lease liabilities	$ 196,679
Lessee, Lease, Description [Line Items]
Operating Lease, Liability, Current, Statement of Financial Position [Extensible List]	Other current liabilities		Other current liabilities
Operating Lease, Liability, Noncurrent, Statement of Financial Position [Extensible List]	Other liabilities		Other liabilities

8. Fair Value Measurements (Det

8. Fair Value Measurements (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Assets:
Marketable securities	$ 562,735	$ 520,066
Restricted marketable securities	0	265,280
Foreign debt [Member]
Assets:
Marketable securities	194,101	214,254
U.S. debt [Member]
Assets:
Marketable securities	18,764	14,543
Time deposits [Member]
Assets:
Marketable securities	349,870	291,269
Fair Value, Measurements, Recurring [Member]
Assets:
Restricted marketable securities		265,280
Derivative assets	7,745	3,315
Total assets	570,482	788,663
Liabilities:
Derivative liabilities	2,938	5,621
Fair Value, Measurements, Recurring [Member] \| Foreign debt [Member]
Assets:
Marketable securities	194,101	214,254
Fair Value, Measurements, Recurring [Member] \| U.S. debt [Member]
Assets:
Marketable securities	18,764	14,543
Fair Value, Measurements, Recurring [Member] \| Time deposits [Member]
Assets:
Marketable securities	349,870	291,269
Fair Value, Measurements, Recurring [Member] \| Money market funds [Member]
Assets:
Cash equivalents	2	2
Fair Value, Measurements, Recurring [Member] \| Fair Value, Inputs, Level 1 [Member]
Assets:
Restricted marketable securities		0
Derivative assets	0	0
Total assets	349,872	291,271
Liabilities:
Derivative liabilities	0	0
Fair Value, Measurements, Recurring [Member] \| Fair Value, Inputs, Level 1 [Member] \| Foreign debt [Member]
Assets:
Marketable securities	0	0
Fair Value, Measurements, Recurring [Member] \| Fair Value, Inputs, Level 1 [Member] \| U.S. debt [Member]
Assets:
Marketable securities	0	0
Fair Value, Measurements, Recurring [Member] \| Fair Value, Inputs, Level 1 [Member] \| Time deposits [Member]
Assets:
Marketable securities	349,870	291,269
Fair Value, Measurements, Recurring [Member] \| Fair Value, Inputs, Level 1 [Member] \| Money market funds [Member]
Assets:
Cash equivalents	2	2
Fair Value, Measurements, Recurring [Member] \| Fair Value, Inputs, Level 2 [Member]
Assets:
Restricted marketable securities		265,280
Derivative assets	7,745	3,315
Total assets	220,610	497,392
Liabilities:
Derivative liabilities	2,938	5,621
Fair Value, Measurements, Recurring [Member] \| Fair Value, Inputs, Level 2 [Member] \| Foreign debt [Member]
Assets:
Marketable securities	194,101	214,254
Fair Value, Measurements, Recurring [Member] \| Fair Value, Inputs, Level 2 [Member] \| U.S. debt [Member]
Assets:
Marketable securities	18,764	14,543
Fair Value, Measurements, Recurring [Member] \| Fair Value, Inputs, Level 2 [Member] \| Time deposits [Member]
Assets:
Marketable securities	0	0
Fair Value, Measurements, Recurring [Member] \| Fair Value, Inputs, Level 2 [Member] \| Money market funds [Member]
Assets:
Cash equivalents	0	0
Fair Value, Measurements, Recurring [Member] \| Fair Value, Inputs, Level 3 [Member]
Assets:
Restricted marketable securities		0
Derivative assets	0	0
Total assets	0	0
Liabilities:
Derivative liabilities	0	0
Fair Value, Measurements, Recurring [Member] \| Fair Value, Inputs, Level 3 [Member] \| Foreign debt [Member]
Assets:
Marketable securities	0	0
Fair Value, Measurements, Recurring [Member] \| Fair Value, Inputs, Level 3 [Member] \| U.S. debt [Member]
Assets:
Marketable securities	0	0
Fair Value, Measurements, Recurring [Member] \| Fair Value, Inputs, Level 3 [Member] \| Time deposits [Member]
Assets:
Marketable securities	0	0
Fair Value, Measurements, Recurring [Member] \| Fair Value, Inputs, Level 3 [Member] \| Money market funds [Member]
Assets:
Cash equivalents	$ 0	$ 0

8. Fair Value Measurements (D_2

8. Fair Value Measurements (Details) - Balance Sheet Grouping - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]
Accounts receivable, unbilled - noncurrent	$ 53,281	$ 22,722
Financial Instruments, Financial Liabilities, Balance Sheet Groupings [Abstract]
Long-term debt, including current maturities	264,427
Reported Value Measurement [Member]
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]
Accounts receivable, unbilled - noncurrent	53,281	22,722
Financial Instruments, Financial Liabilities, Balance Sheet Groupings [Abstract]
Long-term debt, including current maturities	264,427	287,149
Estimate of Fair Value Measurement [Member]
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]
Accounts receivable, unbilled - noncurrent	47,767	22,096
Financial Instruments, Financial Liabilities, Balance Sheet Groupings [Abstract]
Long-term debt, including current maturities	$ 262,442	$ 297,076

9. Debt (Details)

9. Debt (Details) $ in Thousands, ¥ in Billions	3 Months Ended
9. Debt (Details) $ in Thousands, ¥ in Billions	Mar. 31, 2021USD ($)	Mar. 31, 2021JPY (¥)	Dec. 31, 2020USD ($)	Jul. 31, 2020USD ($)	Jul. 31, 2020JPY (¥)	Jun. 30, 2017USD ($)	Jun. 30, 2017JPY (¥)	Sep. 30, 2015USD ($)	Sep. 30, 2015JPY (¥)
Long-term Debt [Abstract]
Long-term debt, gross	$ 264,427		$ 287,149
Less: unamortized discount and issuance costs	(7,527)		(7,918)
Total long-term debt	256,900		279,231
Less current portion	(2,453)		(41,540)
Noncurrent portion	254,447		237,691
Long-term Debt, Fiscal Year Maturity [Abstract]
Long-term Debt, Maturity, Remainder of Fiscal Year	1,810
Long-Term Debt, Maturity, Year One	38,281
Long-term Debt, Maturity, Year Two	6,084
Long-Term Debt, Maturity, Year Three	51,563
Long-Term Debt, Maturity, Year Four	7,560
Long-Term Debt, Maturity, Year Five	7,965
Long-Term Debt, Maturity, after Year Five	151,164
Total long-term debt future principal payments	$ 264,427
Revolving Credit Facility [Member]
Long-term Debt [Abstract]
Debt instrument, currency	USD
Revolving credit facility	$ 0		0
Line of Credit Facility, Current Borrowing Capacity	500,000
Line of Credit Facility, Maximum Borrowing Capacity	750,000
Letters of Credit Outstanding, Amount	$ 3,400		4,300
Line of Credit Facility, Unused Capacity, Commitment Fee Percentage	0.30%
Fronting fee	0.125%
Debt Instrument, Interest Rate, Stated Percentage	2.11%	2.11%
Debt Instrument, Description of Variable Rate Basis	Borrowings under the credit facility bear interest at (i) London Interbank Offered Rate (“LIBOR”), adjusted for Eurocurrency reserve requirements, plus a margin of 2.00% or (ii) a base rate as defined in the credit agreement plus a margin of 1.00% depending on the type of borrowing requested.
Revolving Credit Facility [Member] \| Minimum [Member]
Long-term Debt [Abstract]
Debt Instrument, Basis Spread on Variable Rate	1.00%
Revolving Credit Facility [Member] \| Maximum [Member]
Long-term Debt [Abstract]
Debt Instrument, Basis Spread on Variable Rate	2.00%
Luz del Norte Credit Facilities [Member]
Long-term Debt [Abstract]
Debt instrument, currency	USD
Long-term debt, gross	$ 185,639		186,230
Luz del Norte Credit Facilities [Member] \| DFC [Member] \| Parque Solar Fotovoltaico Luz del Norte SpA [Member]
Long-term Debt [Abstract]
Long-term debt, gross	139,000		139,400
Luz del Norte Credit Facilities [Member] \| IFC [Member] \| Parque Solar Fotovoltaico Luz del Norte SpA [Member]
Long-term Debt [Abstract]
Long-term debt, gross	$ 46,600		46,800
Luz del Norte Credit Facilities [Member] \| DFC and IFC [Member]
Long-term Debt [Abstract]
Debt Instrument, Description of Fixed Rate Basis	Fixed rate loans at bank rate plus 3.50%
Debt Instrument, Description of Variable Rate Basis	Variable rate loans at 91-Day U.S. Treasury Bill Yield or LIBOR plus 3.50%
Debt Instrument, Basis Spread on Fixed Rate	3.50%
Debt Instrument, Basis Spread on Variable Rate	3.50%
Luz del Norte Credit Facilities [Member] \| Fixed Rate Term Loan Facility [Member] \| DFC and IFC [Member] \| Parque Solar Fotovoltaico Luz del Norte SpA [Member]
Long-term Debt [Abstract]
Long-term debt, gross	$ 141,300
Luz del Norte Credit Facilities [Member] \| Variable Rate Term Loan Facility [Member] \| DFC and IFC [Member] \| Parque Solar Fotovoltaico Luz del Norte SpA [Member]
Long-term Debt [Abstract]
Long-term debt, gross	$ 44,300
Japan Credit Facility [Member]
Long-term Debt [Abstract]
Debt instrument, currency	JPY
Long-term debt, gross	$ 34,246		13,813
Japan Credit Facility [Member] \| Mizuho Bank [Member]
Long-term Debt [Abstract]
Debt Instrument, Description of Variable Rate Basis	1-month TIBOR plus 0.55%
Debt Instrument, Basis Spread on Variable Rate	0.55%
Japan Credit Facility [Member] \| Mizuho Bank [Member] \| First Solar Japan GK [Member]
Long-term Debt [Abstract]
Line of Credit Facility, Current Borrowing Capacity								$ 33,400	¥ 4
Tochigi Credit Facility [Member]
Long-term Debt [Abstract]
Debt instrument, currency	JPY
Long-term debt, gross	$ 0		39,400
Tochigi Credit Facility [Member] \| Mizuho Bank [Member] \| First Solar Japan GK [Member]
Long-term Debt [Abstract]
Line of Credit Facility, Current Borrowing Capacity						$ 62,200	¥ 7
Repayments of Debt	$ 36,800
Kyoto Credit Facility [Member]
Long-term Debt [Abstract]
Debt instrument, currency	JPY
Long-term debt, gross	$ 44,542		47,706
Kyoto Credit Facility [Member] \| Mizuho Bank [Member]
Long-term Debt [Abstract]
Debt Instrument, Description of Variable Rate Basis	1-month TIBOR plus 0.60%
Debt Instrument, Basis Spread on Variable Rate	0.60%
Kyoto Credit Facility [Member] \| Mizuho Bank [Member] \| First Solar Japan GK [Member]
Long-term Debt [Abstract]
Line of Credit Facility, Current Borrowing Capacity				$ 142,800	¥ 15
Ikeda Credit Facility
Long-term Debt [Abstract]
Debt instrument, currency	JPY
Long-term debt, gross	$ 0		$ 0
Ikeda Credit Facility \| MUFG Bank, Ltd.; Japan Post Insurance Co., Ltd.; The Shizuoka Bank, Ltd.; The Hyakugo Bank, Ltd.; The Iyo Bank, Ltd.; and The Yamagata Bank, Ltd. \| FS Japan Project B4 GK
Long-term Debt [Abstract]
Line of Credit Facility, Current Borrowing Capacity	$ 88,600	¥ 9.8
Ikeda Credit Facility \| Fixed Rate Term Loan Facility [Member] \| MUFG Bank, Ltd.; Japan Post Insurance Co., Ltd.; The Shizuoka Bank, Ltd.; The Hyakugo Bank, Ltd.; The Iyo Bank, Ltd.; and The Yamagata Bank, Ltd.
Long-term Debt [Abstract]
Debt Instrument, Description of Fixed Rate Basis	Fixed rate term loan facility at 1.20%
Debt Instrument, Basis Spread on Fixed Rate	1.20%
Ikeda Credit Facility \| Fixed Rate Term Loan Facility [Member] \| MUFG Bank, Ltd.; Japan Post Insurance Co., Ltd.; The Shizuoka Bank, Ltd.; The Hyakugo Bank, Ltd.; The Iyo Bank, Ltd.; and The Yamagata Bank, Ltd. \| FS Japan Project B4 GK
Long-term Debt [Abstract]
Line of Credit Facility, Current Borrowing Capacity	$ 43,100	4.7
Ikeda Credit Facility \| Variable Rate Term Loan Facility [Member] \| MUFG Bank, Ltd.; Japan Post Insurance Co., Ltd.; The Shizuoka Bank, Ltd.; The Hyakugo Bank, Ltd.; The Iyo Bank, Ltd.; and The Yamagata Bank, Ltd.
Long-term Debt [Abstract]
Debt Instrument, Description of Variable Rate Basis	Variable rate term loan facility at 6-month TIBOR plus 0.70%
Debt Instrument, Basis Spread on Variable Rate	0.70%
Ikeda Credit Facility \| Variable Rate Term Loan Facility [Member] \| MUFG Bank, Ltd.; Japan Post Insurance Co., Ltd.; The Shizuoka Bank, Ltd.; The Hyakugo Bank, Ltd.; The Iyo Bank, Ltd.; and The Yamagata Bank, Ltd. \| FS Japan Project B4 GK
Long-term Debt [Abstract]
Line of Credit Facility, Current Borrowing Capacity	$ 34,100	3.8
Ikeda Credit Facility \| Consumption Tax Facility [Member] \| MUFG Bank, Ltd.; Japan Post Insurance Co., Ltd.; The Shizuoka Bank, Ltd.; The Hyakugo Bank, Ltd.; The Iyo Bank, Ltd.; and The Yamagata Bank, Ltd.
Long-term Debt [Abstract]
Debt Instrument, Description of Variable Rate Basis	Consumption tax facility at 3-month TIBOR plus 0.50%
Debt Instrument, Basis Spread on Variable Rate	0.50%
Ikeda Credit Facility \| Consumption Tax Facility [Member] \| MUFG Bank, Ltd.; Japan Post Insurance Co., Ltd.; The Shizuoka Bank, Ltd.; The Hyakugo Bank, Ltd.; The Iyo Bank, Ltd.; and The Yamagata Bank, Ltd. \| FS Japan Project B4 GK
Long-term Debt [Abstract]
Line of Credit Facility, Current Borrowing Capacity	$ 8,200	0.9
Ikeda Credit Facility \| Debt Service Reserve Facility \| MUFG Bank, Ltd.; Japan Post Insurance Co., Ltd.; The Shizuoka Bank, Ltd.; The Hyakugo Bank, Ltd.; The Iyo Bank, Ltd.; and The Yamagata Bank, Ltd.
Long-term Debt [Abstract]
Debt Instrument, Description of Variable Rate Basis	Debt service reserve facility at 6-month TIBOR plus 1.20%
Debt Instrument, Basis Spread on Variable Rate	1.20%
Ikeda Credit Facility \| Debt Service Reserve Facility \| MUFG Bank, Ltd.; Japan Post Insurance Co., Ltd.; The Shizuoka Bank, Ltd.; The Hyakugo Bank, Ltd.; The Iyo Bank, Ltd.; and The Yamagata Bank, Ltd. \| FS Japan Project B4 GK
Long-term Debt [Abstract]
Line of Credit Facility, Current Borrowing Capacity	$ 3,200	¥ 0.4

10. Commitments and Contingen_3

10. Commitments and Contingencies (Details) - Commercial Commitments - USD ($) $ in Millions	Mar. 31, 2021	Dec. 31, 2020
Debt Instrument [Line Items]
Surety Bonds	$ 56.9
Surety Bond Capacity	660
Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Line of Credit Facility, Letter of Credit Sub-Limit	400
Letters of Credit Outstanding, Amount	3.4	$ 4.3
Letters of Credit, Remaining Borrowing Capacity	396.6
Bilateral Facilities [Member]
Debt Instrument [Line Items]
Letters of Credit Outstanding, Amount	112.7
Letters of Credit, Remaining Borrowing Capacity	293.3
Letters of Credit Outstanding, Secured by Cash	$ 1.2

10. Commitments and Contingen_4

10. Commitments and Contingencies (Details) - Product Warranties - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Movement in Standard Product Warranty Accrual [Roll Forward]
Product warranty liability, beginning of period	$ 95,096	$ 129,797
Accruals for new warranties issued	2,277	2,285
Settlements	(3,226)	(6,562)
Changes in estimate of product warranty liability	(74)	(1,019)
Product warranty liability, end of period	94,073	124,501
Current portion of warranty liability	22,275	20,399
Noncurrent portion of warranty liability	$ 71,798	$ 104,102
Estimated Rate of Return for Module Warranty	1.00%
Percentage Point Change in Estimated Rate of Return of Module Warranty	1.00%
Estimated Change in Module Warranty from Sensitivity Analysis	$ 108,800
Percentage Point Change in Estimated Rate of Return of Balance of Systems Warranty	1.00%

10. Commitments and Contingen_5

10. Commitments and Contingencies (Details) - Performance Guarantees - USD ($) $ in Millions	Mar. 31, 2021	Dec. 31, 2020
Commitments and Contingencies Disclosure [Abstract]
Energy Performance Testing Liability	$ 2.9	$ 10.2

10. Commitments and Contingen_6

10. Commitments and Contingencies (Details) - Indemnifications - USD ($) $ in Millions	Mar. 31, 2021	Dec. 31, 2020
Commitments and Contingencies Disclosure [Abstract]
Indemnification liabilities, current	$ 6	$ 3.2
Indemnification liabilities, maximum exposure	146.8
Indemnification liabilities, potential recoveries	$ 72

10. Commitments and Contingen_7

10. Commitments and Contingencies (Details) - Solar Module Collection and Recycling Liability - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Commitments and Contingencies Disclosure [Abstract]
Accrued solar module collection and recycling liability	$ 128,135	$ 130,688
Percentage increase in annualized inflation rate	1.00%
Estimated increase in solar module collection recycling liability from sensitivity analysis	$ 21,200
Percentage decrease in annualized inflation rate	1.00%
Estimated decrease in solar module collection recycling liability from sensitivity analysis	$ 18,300

11. Revenue from Contracts wi_3

11. Revenue from Contracts with Customers (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2021USD ($)Projects	Mar. 31, 2020USD ($)Projects	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)
Revenue from Contracts with Customers [Line Items]
Net sales	$ 803,374	$ 532,124
Project Change in Estimate Disclosure Threshold	$ 1,000
Number of projects with changes in estimates \| Projects	4	2
Increase (decrease) in revenue from net changes in transaction prices	$ 1,634	$ (762)
Increase in revenue from net changes in input cost estimates	0	1,885
Net increase in revenue from net changes in estimates	$ 1,634	$ 1,123
Net change in estimate as a percentage of aggregate revenue	0.10%	0.30%
Accounts receivable, unbilled	$ 80,561		$ 49,395
Accounts receivable, unbilled, allowance for credit losses	(276)	$ (1,223)	(303)	$ 0
Accounts receivable, unbilled, net	80,285		49,092
Contract Asset, Net Change	$ 31,193
Contract Asset, Percent Change	64.00%
Deferred revenue	$ 261,493		233,732
Contract Liability, Net Change	$ 27,761
Contract Liability, Percent Change	12.00%
Unbilled Receivables, Noncurrent	$ 53,281		22,722
Deferred Revenue, Noncurrent	54,963		44,919
Module sales, advanced payments	206,530		$ 188,813
Sales Revenue Net, from Beginning Contract Liability	72,000	268,200
Solar Modules [Member]
Revenue from Contracts with Customers [Line Items]
Net sales	534,670	393,681
Remaining Performance Obligation, Transaction Price	4,100,000
Solar Power Systems [Member]
Revenue from Contracts with Customers [Line Items]
Net sales	226,967	90,076
O&M Services [Member]
Revenue from Contracts with Customers [Line Items]
Net sales	27,235	29,475
Energy Generation [Member]
Revenue from Contracts with Customers [Line Items]
Net sales	14,579	17,973
EPC Services [Member]
Revenue from Contracts with Customers [Line Items]
Net sales	$ (77)	$ 919

12. Share-Based Compensation (D

12. Share-Based Compensation (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Allocated share-based compensation expense	$ 3,115	$ 7,204
Employee service share-based compensation, capitalized in inventory	800		$ 1,100
Restricted and performance stock units [Member]
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Employee service share-based compensation, nonvested awards, total compensation cost not yet recognized	$ 29,300
Employee service share-based compensation, unrecognized compensation costs on nonvested awards, weighted average period of recognition (in years)	1 year 8 months 12 days
Cost of sales [Member]
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Allocated share-based compensation expense	$ (92)	1,212
Selling, general and administrative [Member]
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Allocated share-based compensation expense	4,515	4,709
Research and development [Member]
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Allocated share-based compensation expense	$ (1,308)	$ 1,283

13. Income Taxes (Details)

13. Income Taxes (Details) - USD ($) $ in Millions	3 Months Ended
13. Income Taxes (Details) - USD ($) $ in Millions	Mar. 31, 2021	Mar. 31, 2020
Income Tax Disclosure [Abstract]
Effective income tax rate	18.00%	(5657.00%)
Statutory U.S. federal tax rate	21.00%
Significant Change in Unrecognized Tax Benefits is Reasonably Possible, Amount of Unrecorded Benefit	$ 0.4

14. Net Income Per Share (Detai

14. Net Income Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Earnings Per Share [Abstract]
Net income	$ 209,671	$ 90,704
Weighted-average common shares outstanding	106,088	105,595
Effect of restricted and performance stock units and stock purchase plan shares	802	791
Weighted-average shares used in computing diluted net income per share	106,890	106,386
Net income per share, basic	$ 1.98	$ 0.86
Net income per share, diluted	$ 1.96	$ 0.85
Anti-dilutive shares	0	0

15. Accumulated Other Compreh_3

15. Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Accumulated Other Comprehensive Income (Loss) [Line Items]
Stockholders' equity, beginning balance	$ 5,520,928	$ 5,096,767
Amounts reclassified from accumulated other comprehensive loss	(10,085)	(14,881)
Net other comprehensive income (loss)	(22,924)	(4,316)
Stockholders' equity, ending balance	5,694,780	5,168,622
Other income (expense), net	8,448	(2,222)
Cost of sales	618,607	441,786
Total amount reclassified	256,161	1,577
Total gain reclassified	10,085	14,881
Foreign Currency Translation Adjustment [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Stockholders' equity, beginning balance	(76,239)
Other comprehensive (loss) income before reclassifications	(10,191)
Amounts reclassified from accumulated other comprehensive loss	475
Net tax effect	0
Net other comprehensive income (loss)	(9,716)
Stockholders' equity, ending balance	(85,955)
Total gain reclassified	(475)
Foreign Currency Translation Adjustment [Member] \| Reclassification out of Accumulated Other Comprehensive Loss [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Other income (expense), net	(475)	0
Unrealized Gain (Loss) on Marketable Securities and Restricted Marketable Securities [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Stockholders' equity, beginning balance	16,630
Other comprehensive (loss) income before reclassifications	(6,015)
Amounts reclassified from accumulated other comprehensive loss	(11,696)
Net tax effect	1,121
Net other comprehensive income (loss)	(16,590)
Stockholders' equity, ending balance	40
Total gain reclassified	11,696
Unrealized Gain (Loss) on Marketable Securities and Restricted Marketable Securities [Member] \| Reclassification out of Accumulated Other Comprehensive Loss [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Other income (expense), net	11,696	15,088
Unrealized Gain (Loss) on Derivative Instruments [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Stockholders' equity, beginning balance	(2,117)
Other comprehensive (loss) income before reclassifications	2,883
Amounts reclassified from accumulated other comprehensive loss	1,136
Net tax effect	(637)
Net other comprehensive income (loss)	3,382
Stockholders' equity, ending balance	1,265
Total gain reclassified	(1,136)
Unrealized Gain (Loss) on Derivative Instruments [Member] \| Reclassification out of Accumulated Other Comprehensive Loss [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Total amount reclassified	(1,136)	(207)
Total, Accumulated Other Comprehensive (Loss) Income [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Stockholders' equity, beginning balance	(61,726)	(79,334)
Other comprehensive (loss) income before reclassifications	(13,323)
Amounts reclassified from accumulated other comprehensive loss	(10,085)
Net tax effect	484
Net other comprehensive income (loss)	(22,924)	(4,316)
Stockholders' equity, ending balance	(84,650)	(83,650)
Total gain reclassified	10,085
Foreign exchange forward contracts [Member] \| Unrealized Gain (Loss) on Derivative Instruments [Member] \| Reclassification out of Accumulated Other Comprehensive Loss [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Cost of sales	(1,129)	(207)
Commodity swap contracts \| Unrealized Gain (Loss) on Derivative Instruments [Member] \| Reclassification out of Accumulated Other Comprehensive Loss [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Cost of sales	$ (7)	$ 0

16. Segment Reporting (Details)

16. Segment Reporting (Details) $ in Thousands	3 Months Ended
16. Segment Reporting (Details) $ in Thousands	Mar. 31, 2021USD ($)segments	Mar. 31, 2020USD ($)	Dec. 31, 2020USD ($)
Segment Reporting Information [Line Items]
Number of reportable segments \| segments	2
Net sales	$ 803,374	$ 532,124
Gross profit	184,767	90,338
Depreciation and amortization expense	53,821	50,931
Goodwill	14,462		$ 14,462
Modules Segment [Member]
Segment Reporting Information [Line Items]
Net sales	534,670	393,681
Gross profit	100,440	75,352
Depreciation and amortization expense	50,724	44,673
Goodwill	14,462		14,462
Systems Segment [Member]
Segment Reporting Information [Line Items]
Net sales	268,704	138,443
Gross profit	84,327	14,986
Depreciation and amortization expense	3,097	$ 6,258
Goodwill	$ 0		$ 0