Document_and_Entity_Informatio
Document and Entity Information Document (USD $) | 12 Months Ended | ||
In Millions, except Share data, unless otherwise specified | Dec. 29, 2013 | Feb. 07, 2014 | Jun. 30, 2013 |
Entity Information [Line Items] | ' | ' | ' |
Document Type | '10-K | ' | ' |
Amendment Flag | 'false | ' | ' |
Document Period End Date | 29-Dec-13 | ' | ' |
Entity Registrant Name | 'SUNPOWER CORP | ' | ' |
Entity Central Index Key | '0000867773 | ' | ' |
Current Fiscal Year End Date | '--12-29 | ' | ' |
Entity Well-known Seasoned Issuer | 'Yes | ' | ' |
Entity Voluntary Filers | 'No | ' | ' |
Entity Current Reporting Status | 'Yes | ' | ' |
Entity Filer Category | 'Large Accelerated Filer | ' | ' |
Entity Public Float | ' | ' | $868.50 |
Document Fiscal Year Focus | '2013 | ' | ' |
Document Fiscal Period Focus | 'FY | ' | ' |
Common Stock, Shares, Outstanding | ' | 121,563,739 | ' |
Consolidated_Balance_Sheets
Consolidated Balance Sheets (USD $) | Dec. 29, 2013 | Dec. 30, 2012 | ||
In Thousands, unless otherwise specified | ||||
Current assets: | ' | ' | ||
Cash and cash equivalents | $762,511 | $457,487 | ||
Restricted cash and cash equivalents, current portion | 13,926 | 15,568 | ||
Accounts receivable, net | 360,594 | 398,150 | ||
Costs and estimated earnings in excess of billings | 31,787 | 36,395 | ||
Inventories | 245,575 | 291,386 | ||
Advances to suppliers, current portion | 58,619 | 50,282 | ||
Project assets - plants and land, current portion | 69,196 | 75,911 | ||
Prepaid expenses and other current assets | 646,270 | [1] | 613,053 | [1] |
Total current assets | 2,188,478 | 1,938,232 | ||
Restricted cash and cash equivalents, net of current portion | 17,573 | 31,396 | ||
Restricted long-term marketable securities | 8,892 | 10,885 | ||
Property, plant and equipment, net | 533,387 | 526,914 | ||
Solar power systems leased and to be leased, net | 345,504 | 247,995 | ||
Project assets - plants and land, net of current portion | 6,411 | 7,596 | ||
Advances to suppliers, net of current portion | 324,695 | 301,123 | ||
Long-term financing receivables, net | 175,273 | 67,742 | ||
Other long-term assets | 298,477 | [1] | 209,065 | [1] |
Assets | 3,898,690 | 3,340,948 | ||
Current liabilities: | ' | ' | ||
Accounts payable | 443,969 | [1] | 414,335 | [1] |
Accrued liabilities | 358,157 | 247,372 | ||
Billings in excess of costs and estimated earnings | 308,650 | 225,550 | ||
Short-term debt | 56,912 | 14,700 | ||
Convertible debt, current portion | 455,889 | 0 | ||
Customer advances, current portion | 36,883 | [1] | 59,648 | [1] |
Total current liabilities | 1,660,460 | 961,605 | ||
Long-term debt | 93,095 | 375,661 | ||
Convertible debt, net of current portion | 300,079 | [1] | 438,629 | [1] |
Customer advances, net of current portion | 167,282 | [1] | 236,082 | [1] |
Other long-term liabilities | 523,991 | 335,619 | ||
Total liabilities | 2,744,907 | 2,347,596 | ||
Commitments and contingencies (Note 8) | ' | ' | ||
Equity: | ' | ' | ||
Preferred stock, $0.001 par value; 10,000,000 shares authorized; none issued and outstanding as of both December 29, 2013 and December 31, 2012 | 0 | 0 | ||
Common stock, $0.001 par value, 367,500,000 shares authorized; 126,946,763 shares issued, and 121,535,913 outstanding as of December 29, 2013; 123,315,990 shares issued, and 119,234,280 shares outstanding as of December 30, 2012 | 122 | 119 | ||
Additional paid-in capital | 1,980,778 | 1,931,947 | ||
Accumulated deficit | -806,492 | -902,085 | ||
Accumulated other comprehensive loss | -4,318 | -2,521 | ||
Treasury stock, at cost; 5,410,850 shares of common stock as of December 29, 2013; 4,081,710 shares of common stock as of December 30, 2012 | -53,937 | -34,108 | ||
Total stockholders' equity | 1,116,153 | 993,352 | ||
Noncontrolling interests in subsidiaries | 37,630 | 0 | ||
Total equity | 1,153,783 | 993,352 | ||
Total liabilities and equity | $3,898,690 | $3,340,948 | ||
[1] | The Company has related party balances in connection with transactions made with Total and its affiliates as well as unconsolidated entities in which the Company has a direct equity investment. These related party balances are recorded within the "Prepaid expenses and other current assets," "Other long-term assets," "Accounts payable," "Customer advances, current portion," "Convertible debt, net of current portion," and "Customer advances, net of current portion" financial statement line items in the Consolidated Balance Sheets (see Note 2, Note 4, Note 8, Note 9, and Note 10). |
Consolidated_Balance_Sheets_Pa
Consolidated Balance Sheets Parenthetical (Parentheticals) (USD $) | Dec. 29, 2013 | Dec. 30, 2012 |
Preferred stock, par value | $0.00 | $0.00 |
Preferred stock, shares authorized | 10,000,000 | 10,000,000 |
Preferred stock, shares issued | 0 | 0 |
Preferred stock, shares outstanding | 0 | 0 |
Common stock, par value | $0.00 | $0.00 |
Common stock, shares authorized | 367,500,000 | 367,500,000 |
Common stock, shares issued | 126,946,763 | 123,315,990 |
Common Stock, Shares, Outstanding | 121,535,913 | 119,234,280 |
Common stock held in treasury | 5,410,850 | 4,081,710 |
Consolidated_Statements_of_Ope
Consolidated Statements of Operations (USD $) | 12 Months Ended | ||
In Thousands, except Per Share data, unless otherwise specified | Dec. 29, 2013 | Dec. 30, 2012 | Jan. 01, 2012 |
Income Statement [Abstract] | ' | ' | ' |
Revenue | $2,507,203 | $2,417,501 | $2,374,376 |
Cost of revenue | 2,016,131 | 2,171,103 | 2,148,158 |
Gross margin | 491,072 | 246,398 | 226,218 |
Research and development | 58,080 | 63,456 | 57,775 |
Sales, general and administrative | 271,481 | 310,246 | 331,380 |
Restructuring charges | 2,602 | 100,823 | 21,403 |
Goodwill and other intangible asset impairment | 0 | 59,581 | 349,758 |
Total operating expenses | 332,163 | 534,106 | 760,316 |
Operating income (loss) | 158,909 | -287,708 | -534,098 |
Interest income | 6,017 | 1,091 | 2,337 |
Interest expense | -108,739 | -84,120 | -67,253 |
Gain on share lending arrangement | 0 | 50,645 | 0 |
Other, net | -14,604 | -9,571 | -3,518 |
Other income (expense), net | -117,326 | -41,955 | -68,434 |
Income (Loss) from Continuing Operations before Equity Method Investments, Income Taxes, Extraordinary Items, Noncontrolling Interest | 41,583 | -329,663 | -602,532 |
Provision for income taxes | -11,905 | -21,842 | -17,208 |
Equity in earnings (loss) of unconsolidated investees | 3,872 | -515 | 6,003 |
Net income (loss) | 33,550 | -352,020 | -613,737 |
Net loss attributable to noncontrolling interests | 62,043 | 0 | 0 |
Net income (loss) attributable to stockholders | $95,593 | ($352,020) | ($613,737) |
Basic, EPS | $0.79 | ($3.01) | ($6.28) |
Diluted, EPS | $0.70 | ($3.01) | ($6.28) |
Basic, Weighted Ave. Shares | 120,819 | 117,093 | 97,724 |
Diluted, Weighted Ave. Shares | 138,980 | 117,093 | 97,724 |
Consolidated_Statement_of_Comp
Consolidated Statement of Comprehensive Income (Expense) Statement (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 29, 2013 | Dec. 30, 2012 | Jan. 01, 2012 |
Statement of Comprehensive Income [Abstract] | ' | ' | ' |
Net income (loss) | $33,550 | ($352,020) | ($613,737) |
Translation adjustment | -1,447 | -959 | 1,401 |
Net unrealized loss on derivatives (Note 11) | -562 | -10,716 | -175 |
Income taxes | 212 | 2,012 | 2,276 |
Net change in accumulated other comprehensive income (loss) | -1,797 | -9,663 | 3,502 |
Total comprehensive income (loss) | 31,753 | -361,683 | -610,235 |
Comprehensive loss attributable to noncontrolling interests | 62,043 | 0 | 0 |
Comprehensive income (loss) attributable to stockholders | $93,796 | ($361,683) | ($610,235) |
Consolidated_Statements_of_Equ
Consolidated Statements of Equity (USD $) | 12 Months Ended | |||
In Thousands, unless otherwise specified | Dec. 29, 2013 | Dec. 30, 2012 | Jan. 01, 2012 | Jan. 02, 2011 |
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest | $1,153,783 | $993,352 | $1,274,725 | $1,657,434 |
Net income (loss) attributable to stockholders | 95,593 | -352,020 | -613,737 | ' |
Net change in accumulated other comprehensive income (loss) | -1,797 | -9,663 | 3,502 | ' |
Stock Issued During Period, Value, Stock Options Exercised | 155 | 52 | 4,052 | ' |
Stock Issued During Period, Value, Share-based Compensation, Net of Forfeitures | 0 | 0 | 2 | ' |
Adjustments to Additional Paid in Capital, Warrant Issued | ' | 50,327 | 2,261 | ' |
Adjustments to Additional Paid in Capital, Income Tax Benefit from Share-based Compensation | ' | ' | -2,415 | ' |
Adjustments to Additional Paid in Capital, Share-based Compensation, Requisite Service Period Recognition | 46,215 | 41,646 | 46,880 | ' |
Treasury Stock, Value, Acquired, Cost Method | -19,829 | -5,693 | -11,745 | ' |
Transfer Of Entity Under Common Control | ' | ' | 188,491 | ' |
Private offering of common stock, net of issuance costs | ' | 163,615 | ' | ' |
Cash distribution to Parent in connection with the transfer of entities under common control | ' | -169,637 | ' | ' |
Returned shares from share lending agreement, values | ' | 0 | ' | ' |
Net Income (Loss) Attributable to Noncontrolling Interest | -62,043 | 0 | 0 | ' |
Net income (loss) | 33,550 | -352,020 | -613,737 | ' |
Tax benefit from convertible debt interest deduction | 1,408 | ' | ' | ' |
Tax benefit from stock-based compensation | 1,056 | ' | ' | ' |
Contributions from noncontrolling interests | 100,008 | 0 | 0 | ' |
Noncontrolling Interest, Decrease from Distributions to Noncontrolling Interest Holders | -335 | ' | ' | ' |
Capital Units [Member] | ' | ' | ' | ' |
Shares, Issued | 121,536 | 119,234 | 100,476 | 98,106 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Net of Forfeitures | 48 | 20 | 993 | ' |
Stock Issued During Period, Shares, Share-based Compensation, Gross | 3,583 | 2,844 | 2,161 | ' |
Treasury Stock, Shares, Acquired | -1,329 | -906 | -784 | ' |
Private offering of common stock, net of issuance costs (shares) | ' | 18,600 | ' | ' |
Returned shares from share lending agreement | ' | -1,800 | ' | ' |
Common Stock [Member] | ' | ' | ' | ' |
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest | 122 | 119 | 100 | 98 |
Stock Issued During Period, Value, Stock Options Exercised | 0 | 0 | 1 | ' |
Stock Issued During Period, Value, Share-based Compensation, Net of Forfeitures | 3 | 2 | 2 | ' |
Adjustments to Additional Paid in Capital, Warrant Issued | ' | 0 | 0 | ' |
Adjustments to Additional Paid in Capital, Income Tax Benefit from Share-based Compensation | ' | ' | 0 | ' |
Adjustments to Additional Paid in Capital, Share-based Compensation, Requisite Service Period Recognition | 0 | 0 | 0 | ' |
Treasury Stock, Value, Acquired, Cost Method | 0 | 0 | -1 | ' |
Transfer Of Entity Under Common Control | ' | ' | 0 | ' |
Private offering of common stock, net of issuance costs | ' | 19 | ' | ' |
Cash distribution to Parent in connection with the transfer of entities under common control | ' | 0 | ' | ' |
Returned shares from share lending agreement, values | ' | -2 | ' | ' |
Tax benefit from convertible debt interest deduction | 0 | ' | ' | ' |
Tax benefit from stock-based compensation | 0 | ' | ' | ' |
Contributions from noncontrolling interests | 0 | ' | ' | ' |
Noncontrolling Interest, Decrease from Distributions to Noncontrolling Interest Holders | 0 | ' | ' | ' |
Additional Paid-in Capital [Member] | ' | ' | ' | ' |
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest | 1,980,778 | 1,931,947 | 1,845,965 | 1,606,697 |
Stock Issued During Period, Value, Stock Options Exercised | 155 | 52 | 4,051 | ' |
Stock Issued During Period, Value, Share-based Compensation, Net of Forfeitures | -3 | -2 | 0 | ' |
Adjustments to Additional Paid in Capital, Warrant Issued | ' | 50,327 | 2,261 | ' |
Adjustments to Additional Paid in Capital, Income Tax Benefit from Share-based Compensation | ' | ' | -2,415 | ' |
Adjustments to Additional Paid in Capital, Share-based Compensation, Requisite Service Period Recognition | 46,215 | 41,646 | 46,880 | ' |
Treasury Stock, Value, Acquired, Cost Method | 0 | 0 | 0 | ' |
Transfer Of Entity Under Common Control | ' | ' | 188,491 | ' |
Private offering of common stock, net of issuance costs | ' | 163,596 | ' | ' |
Cash distribution to Parent in connection with the transfer of entities under common control | ' | -169,637 | ' | ' |
Returned shares from share lending agreement, values | ' | 0 | ' | ' |
Tax benefit from convertible debt interest deduction | 1,408 | ' | ' | ' |
Tax benefit from stock-based compensation | 1,056 | ' | ' | ' |
Contributions from noncontrolling interests | 0 | ' | ' | ' |
Noncontrolling Interest, Decrease from Distributions to Noncontrolling Interest Holders | 0 | ' | ' | ' |
Treasury Stock [Member] | ' | ' | ' | ' |
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest | -53,937 | -34,108 | -28,417 | -16,673 |
Stock Issued During Period, Value, Stock Options Exercised | 0 | 0 | 0 | ' |
Stock Issued During Period, Value, Share-based Compensation, Net of Forfeitures | 0 | 0 | 0 | ' |
Adjustments to Additional Paid in Capital, Warrant Issued | ' | 0 | 0 | ' |
Adjustments to Additional Paid in Capital, Income Tax Benefit from Share-based Compensation | ' | ' | 0 | ' |
Adjustments to Additional Paid in Capital, Share-based Compensation, Requisite Service Period Recognition | 0 | 0 | 0 | ' |
Treasury Stock, Value, Acquired, Cost Method | -19,829 | -5,693 | -11,744 | ' |
Transfer Of Entity Under Common Control | ' | ' | 0 | ' |
Private offering of common stock, net of issuance costs | ' | 0 | ' | ' |
Cash distribution to Parent in connection with the transfer of entities under common control | ' | 0 | ' | ' |
Returned shares from share lending agreement, values | ' | 2 | ' | ' |
Tax benefit from convertible debt interest deduction | 0 | ' | ' | ' |
Tax benefit from stock-based compensation | 0 | ' | ' | ' |
Contributions from noncontrolling interests | 0 | ' | ' | ' |
Noncontrolling Interest, Decrease from Distributions to Noncontrolling Interest Holders | 0 | ' | ' | ' |
Accumulated Other Comprehensive Income (Loss) [Member] | ' | ' | ' | ' |
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest | -4,318 | -2,521 | 7,142 | 3,640 |
Net change in accumulated other comprehensive income (loss) | -1,797 | -9,663 | 3,502 | ' |
Stock Issued During Period, Value, Stock Options Exercised | 0 | 0 | 0 | ' |
Stock Issued During Period, Value, Share-based Compensation, Net of Forfeitures | 0 | 0 | 0 | ' |
Adjustments to Additional Paid in Capital, Warrant Issued | ' | 0 | 0 | ' |
Adjustments to Additional Paid in Capital, Income Tax Benefit from Share-based Compensation | ' | ' | 0 | ' |
Adjustments to Additional Paid in Capital, Share-based Compensation, Requisite Service Period Recognition | 0 | 0 | 0 | ' |
Treasury Stock, Value, Acquired, Cost Method | 0 | 0 | 0 | ' |
Transfer Of Entity Under Common Control | ' | ' | 0 | ' |
Private offering of common stock, net of issuance costs | ' | 0 | ' | ' |
Cash distribution to Parent in connection with the transfer of entities under common control | ' | 0 | ' | ' |
Returned shares from share lending agreement, values | ' | 0 | ' | ' |
Tax benefit from convertible debt interest deduction | 0 | ' | ' | ' |
Tax benefit from stock-based compensation | 0 | ' | ' | ' |
Contributions from noncontrolling interests | 0 | ' | ' | ' |
Noncontrolling Interest, Decrease from Distributions to Noncontrolling Interest Holders | 0 | ' | ' | ' |
Retained Earnings [Member] | ' | ' | ' | ' |
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest | -806,492 | -902,085 | -550,065 | 63,672 |
Net income (loss) attributable to stockholders | 95,593 | -352,020 | -613,737 | ' |
Net change in accumulated other comprehensive income (loss) | 0 | 0 | ' | ' |
Stock Issued During Period, Value, Stock Options Exercised | 0 | 0 | 0 | ' |
Stock Issued During Period, Value, Share-based Compensation, Net of Forfeitures | 0 | 0 | 0 | ' |
Adjustments to Additional Paid in Capital, Warrant Issued | ' | 0 | 0 | ' |
Adjustments to Additional Paid in Capital, Income Tax Benefit from Share-based Compensation | ' | ' | 0 | ' |
Adjustments to Additional Paid in Capital, Share-based Compensation, Requisite Service Period Recognition | 0 | 0 | 0 | ' |
Treasury Stock, Value, Acquired, Cost Method | 0 | 0 | 0 | ' |
Transfer Of Entity Under Common Control | ' | ' | 0 | ' |
Private offering of common stock, net of issuance costs | ' | 0 | ' | ' |
Cash distribution to Parent in connection with the transfer of entities under common control | ' | 0 | ' | ' |
Returned shares from share lending agreement, values | ' | 0 | ' | ' |
Tax benefit from convertible debt interest deduction | 0 | ' | ' | ' |
Tax benefit from stock-based compensation | 0 | ' | ' | ' |
Contributions from noncontrolling interests | 0 | ' | ' | ' |
Noncontrolling Interest, Decrease from Distributions to Noncontrolling Interest Holders | 0 | ' | ' | ' |
Parent [Member] | ' | ' | ' | ' |
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest | 1,116,153 | 993,352 | 1,274,725 | 1,657,434 |
Net income (loss) attributable to stockholders | 95,593 | -352,020 | -613,737 | ' |
Net change in accumulated other comprehensive income (loss) | -1,797 | -9,663 | 3,502 | ' |
Stock Issued During Period, Value, Stock Options Exercised | 155 | 52 | 4,052 | ' |
Stock Issued During Period, Value, Share-based Compensation, Net of Forfeitures | 0 | 0 | 2 | ' |
Adjustments to Additional Paid in Capital, Warrant Issued | ' | 50,327 | 2,261 | ' |
Adjustments to Additional Paid in Capital, Income Tax Benefit from Share-based Compensation | ' | ' | -2,415 | ' |
Adjustments to Additional Paid in Capital, Share-based Compensation, Requisite Service Period Recognition | 46,215 | 41,646 | 46,880 | ' |
Treasury Stock, Value, Acquired, Cost Method | -19,829 | -5,693 | -11,745 | ' |
Transfer Of Entity Under Common Control | ' | ' | 188,491 | ' |
Private offering of common stock, net of issuance costs | ' | 163,615 | ' | ' |
Cash distribution to Parent in connection with the transfer of entities under common control | ' | -169,637 | ' | ' |
Returned shares from share lending agreement, values | ' | 0 | ' | ' |
Tax benefit from convertible debt interest deduction | 1,408 | ' | ' | ' |
Tax benefit from stock-based compensation | 1,056 | ' | ' | ' |
Contributions from noncontrolling interests | 0 | ' | ' | ' |
Noncontrolling Interest, Decrease from Distributions to Noncontrolling Interest Holders | 0 | ' | ' | ' |
Noncontrolling Interest [Member] | ' | ' | ' | ' |
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest | 37,630 | 0 | 0 | 0 |
Net change in accumulated other comprehensive income (loss) | 0 | 0 | ' | ' |
Stock Issued During Period, Value, Stock Options Exercised | 0 | 0 | 0 | ' |
Stock Issued During Period, Value, Share-based Compensation, Net of Forfeitures | 0 | 0 | 0 | ' |
Adjustments to Additional Paid in Capital, Warrant Issued | ' | 0 | 0 | ' |
Adjustments to Additional Paid in Capital, Income Tax Benefit from Share-based Compensation | ' | ' | 0 | ' |
Adjustments to Additional Paid in Capital, Share-based Compensation, Requisite Service Period Recognition | 0 | 0 | 0 | ' |
Treasury Stock, Value, Acquired, Cost Method | 0 | 0 | 0 | ' |
Transfer Of Entity Under Common Control | ' | ' | 0 | ' |
Private offering of common stock, net of issuance costs | ' | 0 | ' | ' |
Cash distribution to Parent in connection with the transfer of entities under common control | ' | 0 | ' | ' |
Returned shares from share lending agreement, values | ' | 0 | ' | ' |
Net Income (Loss) Attributable to Noncontrolling Interest | -62,043 | ' | ' | ' |
Tax benefit from convertible debt interest deduction | 0 | ' | ' | ' |
Tax benefit from stock-based compensation | 0 | ' | ' | ' |
Contributions from noncontrolling interests | 100,008 | ' | ' | ' |
Noncontrolling Interest, Decrease from Distributions to Noncontrolling Interest Holders | ($335) | ' | ' | ' |
Consolidated_Statements_of_Cas
Consolidated Statements of Cash Flows (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 29, 2013 | Dec. 30, 2012 | Jan. 01, 2012 |
Net income (loss) | $33,550 | ($352,020) | ($613,737) |
Depreciation and amortization | 98,191 | 117,770 | 130,472 |
Stock-based compensation | 45,678 | 42,439 | 46,736 |
Non-cash interest expense | 49,016 | 38,177 | 28,627 |
Goodwill and other intangible asset impairment | 0 | 59,581 | 349,758 |
Loss on retirement of property, plant and equipment | 0 | 77,807 | 0 |
Gain on contract termination | -51,988 | 0 | 0 |
Gain on share lending arrangement | 0 | -50,645 | 0 |
Third-party inventories write-down | 0 | 8,869 | 23,651 |
Project assets write-down related to change in European government incentives | 0 | 0 | 16,053 |
Equity in (earnings) loss of unconsolidated investees | -3,872 | 515 | -6,003 |
Deferred income taxes and other tax liabilities | 1,138 | -4,332 | -14,385 |
Other, net | 4,396 | 3,841 | 2,201 |
Accounts receivable | -53,756 | 11,522 | 23,383 |
Costs and estimated earnings in excess of billings | 4,608 | 18,458 | 41,165 |
Inventories | -6,243 | 28,324 | -81,994 |
Project assets | -22,094 | -23,397 | -34,113 |
Long-term financing receivables, net | -107,531 | -62,415 | -5,165 |
Prepaid expenses and other assets | 39,123 | -73,706 | -177,522 |
Advances to suppliers | -31,909 | -23,883 | -40,492 |
Accounts payable and other accrued liabilities | 120,599 | 91,564 | 46,256 |
Billings in excess of costs and estimated earnings | 83,100 | 54,723 | 121,488 |
Customer advances | -39,577 | 65,711 | 49,317 |
Net cash provided by (used in) operating activities | 162,429 | 28,903 | -94,304 |
Decrease in restricted cash and cash equivalents | 15,465 | 32,591 | 176,744 |
Purchases of property, plant and equipment | -34,054 | -104,786 | -131,512 |
Cash paid for solar power systems, leased and to be leased | -97,235 | -150,446 | -11,631 |
Cash paid for solar power systems | -21,257 | 0 | 0 |
Purchases of marketable securities | -99,928 | -1,436 | -9,180 |
Proceeds from sales or maturities of marketable securities | 100,947 | 0 | 0 |
Proceeds from sales or maturities of available-for-sale securities | 0 | 0 | 43,759 |
Proceeds from sale of equipment to third-party | 645 | 424 | 514 |
Cash received for sale of investment in unconsolidated investees | 0 | 17,403 | 75,346 |
Cash paid for investments in unconsolidated investees | -17,761 | -13,817 | -80,000 |
Net cash provided (used) in investing activities | -153,178 | -220,067 | 64,040 |
Proceeds from issuance of convertible debt, net of issuance costs | 296,283 | 0 | 0 |
Proceeds from issuance of bank loans, net of issuance costs | 0 | 150,000 | 489,221 |
Proceeds from issuance of project loans, net of issuance costs | 82,394 | 27,617 | 0 |
Proceeds from residential lease financing | 96,392 | 60,377 | 0 |
Proceeds from sale-leaseback financing | 73,139 | 0 | 0 |
Proceeds from private offering of common stock, net of issuance costs | 0 | 163,616 | 0 |
Cash increase in connection with the consolidation of an entity under common control | 0 | 0 | 50,443 |
Contributions from noncontrolling interests | 100,008 | 0 | 0 |
Proceeds from recovery of claim in connection with share lending arrangement | 0 | 50,645 | 0 |
Proceeds from warrant transactions | 0 | 0 | 2,261 |
Proceeds from exercise of stock options | 156 | 51 | 4,051 |
Cash paid for repurchase of convertible debt | 0 | -198,608 | 0 |
Repayment of bank loans, project loans and other debt | -290,486 | -154,078 | -377,124 |
Assumption of project loan by customer | -34,850 | 0 | 0 |
Repayment of sale-leaseback financing | -8,804 | 0 | 0 |
Distributions to noncontrolling interests | -335 | 0 | 0 |
Cash distributions to Parent in connection with the transfer of entities under common control | 0 | -169,637 | 0 |
Purchases of stock for tax withholding obligations on vested restricted stock | -19,829 | -5,691 | -11,744 |
Net cash provided by (used in) financing activities | 294,068 | -75,708 | 157,108 |
Effect of exchange rate changes on cash and cash equivalents | 1,705 | -1,259 | -6,646 |
Net increase (decrease) in cash and cash equivalents | 305,024 | -268,131 | 120,198 |
Cash and cash equivalents, beginning of period | 762,511 | 457,487 | 725,618 |
Assignment of residential lease receivables to a third party financial institution | 93,013 | 23,813 | 0 |
Costs of solar power systems, leased and to be leased, sourced from existing inventory | 53,721 | 117,692 | 10,158 |
Costs of solar power systems, leased and to be leased, funded by liabilities | 4,392 | 6,544 | 1,767 |
Costs of solar power systems under sale-leaseback financing arrangements, sourced from project assets | 30,442 | 0 | 0 |
Property, plant and equipment acquisitions funded by liabilities | 5,288 | 6,408 | 10,888 |
Issuance of warrants in connection with the Liquidity Support Agreement | 0 | 50,327 | 0 |
Cash paid for interest, net of amount capitalized | 46,026 | 40,621 | 28,280 |
Cash paid for income taxes | $1,338 | $8,073 | $28,154 |
The_Company_and_Summary_of_Sig
The Company and Summary of Significant Accounting Policies | 12 Months Ended | |
Dec. 29, 2013 | ||
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ' | |
Significant Accounting Policies [Text Block] | ' | |
THE COMPANY AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | ||
The Company | ||
SunPower Corporation (together with its subsidiaries, the "Company" or "SunPower") is a vertically integrated solar products and solutions company that designs, manufactures and delivers high-performance solar systems worldwide, serving as a one-stop shop for residential, commercial, and utility-scale power plant customers. | ||
The Company's President and Chief Executive Officer, as the chief operating decision maker ("CODM"), has organized the Company, manages resource allocations, and measures performance of the Company's activities among three regional segments: (i) the Americas Segment, (ii) the EMEA Segment, and (iii) the APAC Segment. The Americas Segment includes both North and South America. The EMEA Segment includes European countries, as well as the Middle East and Africa. The APAC Segment includes all Asia-Pacific countries. | ||
In fiscal 2011, the Company became a majority owned subsidiary of Total Energies Nouvelles Activités USA, formerly known as Total Gas & Power USA, SAS ("Total"), a subsidiary of Total S.A. ("Total S.A.") (see Note 2). | ||
Basis of Presentation and Preparation | ||
Principles of Consolidation | ||
The consolidated financial statements are prepared in accordance with accounting principles generally accepted in the United States of America ("United States" or "U.S.") and include the accounts of the Company, all of its subsidiaries and special purpose entities, as appropriate under consolidation accounting guidelines. Intercompany transactions and balances have been eliminated in consolidation. The assets of the special purpose entities that the Company sets up related to project financing for customers are not designed to be available to service the general liabilities and obligations of the Company in certain circumstances. | ||
Reclassifications | ||
Certain prior period balances have been reclassified to conform to the current period presentation in the Company's consolidated financial statements and the accompanying notes. Such reclassifications had no effect on previously reported results of operations or accumulated deficit. | ||
Fiscal Years | ||
The Company has a 52-to-53-week fiscal year that ends on the Sunday closest to December 31. Accordingly, every fifth or sixth year will be a 53-week fiscal year. Fiscal 2013, 2012, and 2011 were 52-week fiscal years. Fiscal 2013 ended on December 29, 2013, fiscal 2012 ended on December 30, 2012, and fiscal 2011 ended on January 1, 2012. | ||
Management Estimates | ||
The preparation of the consolidated financial statements in conformity with U.S. generally accepted accounting principles ("U.S. GAAP") requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. Significant estimates in these consolidated financial statements include percentage-of-completion for construction projects; allowances for doubtful accounts receivable and sales returns; inventory and project asset write-downs; stock-based compensation; estimates for future cash flows and economic useful lives of property, plant and equipment and other long-term assets; the fair value and residual value of leased solar power systems; fair value of financial instruments; valuation of certain accrued liabilities such as accrued warranty; and income taxes and tax valuation allowances. Actual results could materially differ from those estimates. | ||
Summary of Significant Accounting Policies | ||
Fair Value of Financial Instruments | ||
The fair value of a financial instrument is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The carrying values of cash and cash equivalents, accounts receivable, and accounts payable approximate their respective fair values due to their short-term maturities. Investments in available-for-sale securities are carried at fair value based on quoted market prices or estimated based on market conditions and risks existing at each balance sheet date. Foreign currency derivatives are carried at fair value based on quoted market prices for financial instruments with similar characteristics. Unrealized gains and losses of the Company’s available-for-sale securities and the effective portion of foreign currency derivatives are excluded from earnings and reported as a component of "Accumulated other comprehensive loss" in the Consolidated Balance Sheets. Additionally, the Company assesses whether an other-than-temporary impairment loss on its available-for-sale securities has occurred due to declines in fair value or other market conditions. Declines in fair value that are considered other-than-temporary and the ineffective portion of foreign currency derivatives are included in "Other, net" in the Consolidated Statements of Operations. | ||
Comprehensive Income (Loss) | ||
Comprehensive income (loss) is defined as the change in equity during a period from non-owner sources. The Company’s comprehensive income (loss) for each period presented is comprised of (i) the Company’s net income (loss); (ii) foreign currency translation adjustment of the Company’s foreign subsidiaries whose assets and liabilities are translated from their respective functional currencies at exchange rates in effect at the balance sheet date, and revenues and expenses are translated at average exchange rates prevailing during the applicable period; and (iii) changes in unrealized gains or losses, net of tax, for the effective portion of derivatives designated as cash flow hedges (see Note 11) and available-for-sale securities carried at their fair value. | ||
Cash Equivalents | ||
Highly liquid investments with original or remaining maturities of ninety days or less at the date of purchase are considered cash equivalents. | ||
Cash in Restricted Accounts | ||
The Company maintains cash and cash equivalents in restricted accounts pursuant to various letters of credit, surety bonds, loan agreements, and other agreements in the normal course of business. The Company also holds debt securities, consisting of Philippine government bonds, which are classified as "Restricted long-term marketable securities" on the Company's Consolidated Balance Sheets as they are maintained as collateral for present and future business transactions within the country (see Note 6). | ||
Short-Term and Long-Term Investments | ||
The Company invests in money market funds and debt securities. In general, investments with original maturities of greater than ninety days and remaining maturities of one year or less are classified as short-term investments, and investments with maturities of more than one year are classified as long-term investments. Investments with maturities beyond one year may be classified as short-term based on their highly liquid nature and because such investments represent the investment of cash that is available for current operations. Despite the long-term maturities, the Company has the ability and intent, if necessary, to liquidate any of these investments in order to meet the Company’s working capital needs within its normal operating cycles. The Company has classified these investments as available-for-sale securities (see Note 6). | ||
Inventories | ||
Inventories are valued at the lower of cost or market value. The Company evaluates the recoverability of its inventories based on assumptions about expected demand and market conditions. The Company’s assumption of expected demand is developed based on its analysis of bookings, sales backlog, sales pipeline, market forecast, and competitive intelligence. The Company’s assumption of expected demand is compared to available inventory, production capacity, available third-party inventory, and growth plans. The Company’s factory production plans, which drive materials requirement planning, are established based on its assumptions of expected demand. The Company responds to reductions in expected demand by temporarily reducing manufacturing output and adjusting expected valuation assumptions as necessary. In addition, expected demand by geography has changed historically due to changes in the availability and size of government mandates and economic incentives. | ||
The Company evaluates the terms of its long-term agreements with suppliers, including joint ventures, for the procurement of polysilicon, ingots, wafers, and solar cells and establishes accruals for estimated losses on adverse purchase commitments as necessary, such as lower of cost of market value adjustments, forfeiture of advanced deposits and liquidated damages. Obligations related to non-cancellable purchase orders for inventories match current and forecasted sales orders that will consume these ordered materials and actual consumption of these ordered materials are compared to expected demand regularly. The Company anticipates total obligations related to long-term supply agreements for inventories will be recovered because quantities are less than management's expected demand for its solar power products. Other market conditions that could affect the realizable value of the Company's inventories and are periodically evaluated by management include historical inventory turnover ratio, anticipated sales price, new product development schedules, the effect new products might have on the sale of existing products, product obsolescence, customer concentrations, and product merchantability, among other factors. If, based on assumptions about expected demand and market conditions, we determine that the cost of inventories exceeds its estimated market value or inventory is excess or obsolete, we record a write-down or accrual, which may be material, equal to the difference between the cost of inventories and the estimated market value. If actual market conditions are more favorable, the Company may have higher gross margin when products that have been previously written down are sold in the normal course of business (see Note 4). | ||
Solar Power Systems Leased and to be Leased | ||
Solar power systems leased to residential customers under operating leases are stated at cost, less accumulated depreciation and are amortized to their estimated residual value over the life of the lease term of up to 20 years. | ||
Solar power systems to be leased represents systems that are under installation or which have not been interconnected, which will be depreciated as solar power systems leased to customers when the respective systems are completed, interconnected and subsequently leased to residential customers under operating leases. | ||
Initial direct costs for operating leases are capitalized and amortized over the term of the related customer lease agreements. | ||
Financing Receivables | ||
Leases are classified as either operating or sales-type leases in accordance with the relevant accounting guidelines. Financing receivables are generated by solar power systems leased to residential customers under sales-type leases. Financing receivables represents gross minimum lease payments to be received from customers and the systems estimated residual value, net of unearned income and allowance for estimated losses. Initial direct costs for sales-type leases are recognized as cost of sales when the solar power systems are placed in service. The Company recognizes an allowance for losses on financing receivables in an amount equal to the probable losses net of recoveries. | ||
Property, Plant and Equipment | ||
Property, plant and equipment are stated at cost, less accumulated depreciation. Depreciation, excluding solar power systems leased to residential customers as described above, is computed using the straight-line method over the estimated useful lives of the assets as presented below. Leasehold improvements are amortized over the shorter of the estimated useful lives of the assets or the remaining term of the lease. Repairs and maintenance costs are expensed as incurred. | ||
Useful Lives | ||
in Years | ||
Buildings | 20 | |
Leasehold improvements | 1 to 20 | |
Manufacturing equipment | 8 to 15 | |
Computer equipment | 2 to 7 | |
Solar power systems | 30 | |
Furniture and fixtures | 3 to 5 | |
Long-Lived Assets | ||
The Company evaluates its long-lived assets, including property, plant and equipment and other intangible assets with finite lives, for impairment whenever events or changes in circumstances indicate that the carrying value of such assets may not be recoverable. Factors considered important that could result in an impairment review include significant under-performance relative to expected historical or projected future operating results, significant changes in the manner of use of acquired assets, and significant negative industry or economic trends. The Company's impairment evaluation of long-lived assets includes an analysis of estimated future undiscounted net cash flows expected to be generated by the assets over their remaining estimated useful lives. If the Company's estimate of future undiscounted net cash flows is insufficient to recover the carrying value of the assets over the remaining estimated useful lives, it records an impairment loss in the amount by which the carrying value of the assets exceeds the fair value. Fair value is generally measured based on either quoted market prices, if available, or discounted cash flow analysis. | ||
Project Assets - Plant and Land | ||
Project assets consist primarily of capitalized costs relating to solar power system projects in various stages of development that the Company incurs prior to the sale of the solar power system to a third-party. These costs include costs for land and costs for developing and constructing a solar power system. Development costs can include legal, consulting, permitting, and other similar costs. Once the Company enters into a definitive sales agreement, it reclassifies these project asset costs to deferred project costs within "Prepaid expenses and other current assets" in its Consolidated Balance Sheet until the Company has met the criteria to recognize the sale of the project asset or solar power project as revenue. The Company releases these project costs to cost of revenue as each respective project asset or solar power system is sold to a customer, since the project is constructed for a customer (matching the underlying revenue recognition method). | ||
The Company reviews project assets for impairment whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. The Company considers the project commercially viable if it is anticipated to be sellable for a profit once it is either fully developed or fully constructed. The Company examines a number of factors to determine if the project will be profitable, including whether there are any environmental, ecological, permitting, or regulatory conditions that have changed for the project since the start of development. Such changes could cause the cost of the project to increase or the selling price of the project to decrease. Due to the development, construction, and sale timeframe of the Company's larger solar projects, it classifies project assets which are not expected to be sold within the next 12 months as "Project assets - plants and land, net of current portion" on the Consolidated Balance Sheets. Once specific milestones have been achieved, the Company determines if the sale of the project assets will occur within the next 12 months from a given balance sheet date and, if so, it then reclassifies the project assets as current. | ||
Product Warranties | ||
The Company generally warrants or guarantees the performance of the solar panels that it manufactures at certain levels of power output for 25 years. In addition, the Company passes through to customers long-term warranties from the original equipment manufacturers ("OEMs") of certain system components, such as inverters. Warranties of 25 years from solar panel suppliers are standard in the solar industry, while inverters typically carry warranty periods ranging from 5 to 10 years. In addition, the Company generally warrants its workmanship on installed systems for periods ranging up to 10 years. The Company maintains reserves to cover the expected costs that could result from these warranties. The Company’s expected costs are generally in the form of product replacement or repair. Warranty reserves are based on the Company’s best estimate of such costs and are recognized as a cost of revenue. The Company continuously monitors product returns for warranty failures and maintains a reserve for the related warranty expenses based on various factors including historical warranty claims, results of accelerated lab testing, field monitoring, vendor reliability estimates, and data on industry averages for similar products. Historically, warranty costs have been within management’s expectations (see Note 8). | ||
Revenue Recognition | ||
Solar Power Products | ||
The Company sells its solar panels and balance of system components primarily to dealers, system integrators and distributors, and recognizes revenue, net of accruals for estimated sales returns, when persuasive evidence of an arrangement exists, delivery of the product has occurred, title and risk of loss has passed to the customer, the sales price is fixed or determinable, collectability of the resulting receivable is reasonably assured, and the risks and rewards of ownership have passed to the customer. Other than standard warranty obligations, there are no rights of return and there are no significant post-shipment obligations, including installation, training or customer acceptance clauses with any of the Company's customers that could have an impact on revenue recognition. The Company's revenue recognition policy is consistent across all geographic areas. | ||
The provision for estimated sales returns on product sales is recorded in the same period the related revenues are recorded. These estimates are based on historical sales returns, analysis of credit memo data, and other known factors. Actual returns could differ from these estimates. | ||
Construction Contracts | ||
Revenue is also composed of Engineering, Procurement and Construction ("EPC") projects which are governed by customer contracts that require the Company to deliver functioning solar power systems and are generally completed within three to twelve months from commencement of construction. Construction on large projects may be completed within eighteen to thirty-six months, depending on the size and location. The Company recognizes revenue from fixed price construction contracts, that do not include land or land rights, using the percentage-of-completion method of accounting. Under this method, revenue arising from fixed-price construction contracts is recognized as work is performed based on the percentage of incurred costs to estimated total forecasted costs. | ||
Incurred costs used in the Company’s percentage-of-completion calculation include all direct material, labor and subcontract costs, and those indirect costs related to contract performance, such as indirect labor, supplies, and tools. Project material costs are included in incurred costs when the project materials have been installed by being permanently attached or fitted to the solar power system as required by the project’s engineering design. | ||
In addition to an EPC deliverable, a limited number of arrangements also include multiple deliverables such as post-installation systems monitoring and maintenance. For contracts with separately priced monitoring and maintenance, the Company recognizes revenue related to such separately priced elements over the contract period. For contracts including monitoring and maintenance not separately priced, the Company determined that post-installation systems monitoring and maintenance qualify as separate units of accounting. Such post-installation monitoring and maintenance are deferred at the time the contract is executed based on the best estimate of selling price on a standalone basis and are recognized to revenue over the contractual term. The remaining EPC revenue is recognized on a percentage-of-completion basis. | ||
In addition, when arrangements include contingent revenue clauses, such as customer termination or put rights for non-performance, the Company defers the contingent revenue if there is a reasonable possibility that such rights or contingencies may be triggered. In certain limited cases, the Company could be required to buy-back a customer’s system at fair value on specified future dates if certain minimum performance thresholds are not met for periods of up to two years. To date, no such repurchase obligations have been required. | ||
Provisions for estimated losses on uncompleted contracts, if any, are recognized in the period in which the loss first becomes probable and reasonably estimable. Contracts may include profit incentives such as milestone bonuses. These profit incentives are included in the contract value when their realization is reasonably assured. | ||
Development Projects | ||
The Company develops and sells solar power plants which generally include the sale or lease of related real estate. Revenue recognition for these solar power plants require adherence to specific guidance for real estate sales, which provides that if the Company executes a sale of land in connection with an EPC contract requiring the future development of the property, it recognizes revenue and the corresponding costs under the full accrual method when all of the following requirements are met: the sale is consummated, the buyer's initial and any continuing investments are adequate, the resulting receivables are not subject to subordination, the future costs to develop the property can be reasonably estimated and the Company has transferred the customary risk and rewards of ownership to the buyer. In general, a sale is consummated upon the execution of an agreement documenting the terms of the sale and receipt of a minimum initial payment by the buyer to substantiate the transfer of risk to the buyer. Depending on the value of the initial and continuing investment of the buyer, and provided the recovery of the costs of the solar power plant are reasonably assured if the buyer defaults, the Company may defer revenue and profit during construction by aligning its revenue recognition and release of deferred project costs to cost of sales with the receipt of payment from the buyer. At the time it has unconditionally received payment from the buyer, revenue is recognized and deferred project costs are released to cost of sales at the same rate of profit estimated throughout the construction of the project. The Company's revenue recognition methods for solar power plants not involving real estate are accounted for using the percentage-of-completion method. | ||
Residential Leases | ||
The Company offers a solar lease program, in partnership with third-party financial institutions, which allows its residential customers to obtain SunPower systems under lease agreements for terms of up to 20 years. Leases are classified as either operating or sales-type leases in accordance with the relevant accounting guidelines. | ||
For those systems classified as sales-type leases, the net present value of the minimum lease payments, net of executory costs, is recognized as revenue when the lease is placed in service. This net present value as well as the net present value of the residual value of the lease at termination are recorded as financing receivables in the Consolidated Balance Sheets. The difference between the initial net amounts and the gross amounts are amortized to revenue over the lease term using the interest method. The residual values of our solar systems are determined at the inception of the lease applying an estimated system fair value at the end of the lease term. | ||
For those systems classified as operating leases, rental revenue is recognized, net of executory costs, on a straight-line basis over the term of the lease. | ||
Shipping and Handling Costs | ||
The Company records costs related to shipping and handling in cost of revenue. | ||
Stock-Based Compensation | ||
The Company measures and records compensation expense for all share-based payment awards based on estimated fair values. The Company provides share-based awards to its employees, executive officers, and directors through various equity compensation plans including its employee stock option and restricted stock plans. The fair value of stock option awards is measured at the date of grant using a Black-Scholes option pricing model, and the fair value of restricted stock awards and units is based on the market price of the Company's common stock on the date of grant. The Company has not granted stock options since fiscal 2008. | ||
The Company estimates forfeitures at the date of grant. The Company's estimate of forfeitures is based on its historical activity, which it believes is indicative of expected forfeitures. In subsequent periods if the actual rate of forfeitures differs from the Company's estimate, the forfeiture rates may be revised, as necessary. Changes in the estimated forfeiture rates can have a significant effect on share-based compensation expense since the effect of adjusting the rate is recognized in the period the forfeiture estimate is changed. | ||
The Company also grants performance share units to executive officers and certain employees that require it to estimate expected achievement of performance targets over the performance period. This estimate involves judgment regarding future expectations of various financial performance measures. If there are changes in the Company's estimate of the level of financial performance measures expected to be achieved, the related share-based compensation expense may be significantly increased or reduced in the period that its estimate changes. | ||
Advertising Costs | ||
Advertising costs are expensed as incurred. Advertising expense totaled approximately $11.8 million, $9.2 million, and $3.9 million, in fiscal 2013, 2012, and 2011, respectively. | ||
Research and Development Expense | ||
Research and development expense consists primarily of salaries and related personnel costs, depreciation and the cost of solar cell and solar panel materials and services used for the development of products, including experiments and testing. All research and development costs are expensed as incurred. Research and development expense is reported net of contributions under the R&D Agreement with Total and contracts with governmental agencies because such contracts are considered collaborative arrangements. | ||
Translation of Foreign Currency | ||
The Company and certain of its subsidiaries use their respective local currency as their functional currency. Accordingly, foreign currency assets and liabilities are translated using exchange rates in effect at the end of the period. Foreign subsidiaries that use the U.S. dollar as their functional currency remeasure monetary assets and liabilities using exchange rates in effect at the end of the period. Non-monetary assets and liabilities are carried at their historical values. | ||
The Company includes gains or losses from foreign currency transactions in "Other, net" in the Consolidated Statements of Operations with the other hedging activities described in Note 11. | ||
Concentration of Credit Risk | ||
The Company is exposed to credit losses in the event of nonperformance by the counterparties to its financial and derivative instruments. Financial and derivative instruments that potentially subject the Company to concentrations of credit risk are primarily cash and cash equivalents, restricted cash and cash equivalents, investments, accounts receivable, notes receivable, advances to suppliers, foreign currency option contracts, foreign currency forward contracts, bond hedge and warrant transactions, and purchased options. The Company’s investment policy requires cash and cash equivalents, restricted cash and cash equivalents, and investments to be placed with high-quality financial institutions and to limit the amount of credit risk from any one issuer. Similarly, the Company enters into foreign currency derivative contracts and convertible debenture hedge transactions with high-quality financial institutions and limits the amount of credit exposure to any one counterparty. The foreign currency derivative contracts are limited to a time period of less than 15 months, while the purchased options will expire in 2014 and the bond hedge and warrant transactions expire in 2015. The Company regularly evaluates the credit standing of its counterparty financial institutions. | ||
The Company performs ongoing credit evaluations of its customers’ financial condition whenever deemed necessary and generally does not require collateral. The Company maintains an allowance for doubtful accounts based on the expected collectability of all accounts receivable, which takes into consideration an analysis of historical bad debts, specific customer creditworthiness and current economic trends. Qualified customers under our residential lease program are generally required to have a minimum credit score. We believe that our concentration of credit risk is limited because of our large number of customers, credit quality of the customer base, small account balances for most of these customers, and customer geographic diversification. One customer accounted for 31% of accounts receivable as of December 29, 2013 and one customer accounted for 14% of accounts receivable as of December 30, 2012. In addition, one customer accounted for approximately 34% of the Company’s "Costs and estimated earnings in excess of billings" balance as of December 29, 2013 on the Consolidated Balance Sheets as compared to one customer that accounted for approximately 24% of the balance as of December 30, 2012. | ||
The Company has entered into agreements with vendors that specify future quantities and pricing of polysilicon to be supplied for periods up to 10 years. Under certain agreements, the Company is required to make prepayments to the vendors over the terms of the arrangements. | ||
Income Taxes | ||
Deferred tax assets and liabilities are recognized for temporary differences between financial statement and income tax bases of assets and liabilities. Valuation allowances are provided against deferred tax assets when management cannot conclude that it is more likely than not that some portion or all deferred tax assets will be realized. | ||
As applicable, interest and penalties on tax contingencies are included in "Provision for income taxes" in the Consolidated Statements of Operations and such amounts were not material for any periods presented. In addition, foreign exchange gains (losses) may result from estimated tax liabilities, which are expected to be settled in currencies other than the U.S. dollar. | ||
Investments in Equity Interests | ||
Investments in entities in which the Company can exercise significant influence, but does not own a majority equity interest or otherwise control, are accounted for under the equity method. The Company records its share of the results of these entities as "Equity in earnings (loss) of unconsolidated investees" on the Consolidated Statements of Operations. The Company monitors its investments for other-than-temporary impairment by considering factors such as current economic and market conditions and the operating performance of the entities and records reductions in carrying values when necessary. The fair value of privately held investments is estimated using the best available information as of the valuation date, including current earnings trends, undiscounted cash flows, and other company specific information, including recent financing rounds (see Notes 6 and 9). | ||
Noncontrolling Interests | ||
Noncontrolling interests represents the portion of net assets in consolidated subsidiaries that are not attributable, directly or indirectly, to the Company. Beginning in the first quarter of fiscal 2013, the Company has entered into facilities with third-party investors under which the investors are determined to hold noncontrolling interests in entities fully consolidated by the Company. The net assets of the shared entities are attributed to the controlling and noncontrolling interests based on the terms of the governing contractual arrangements. The Company further determined the hypothetical liquidation at book value method ("HLBV Method") to be the appropriate method for attributing net assets to the controlling and noncontrolling interests as this method most closely mirrors the economics of the governing contractual arrangements. Under the HLBV Method, the Company allocates recorded income (loss) to each investor based on the change, during the reporting period, of the amount of net assets each investor is entitled to under the governing contractual arrangements in a liquidation scenario. | ||
Recent Accounting Pronouncements | ||
In July 2013, the Financial Accounting Standards Board ("FASB") amended its guidance related to the presentation of unrecognized tax benefits. The amended guidance specifies when an unrecognized tax benefit or a portion of an unrecognized tax benefit should be presented as a liability versus an offset against a deferred tax asset when a net operating loss carryforward, a similar tax loss or tax credit carryforward exists. The amendment will become effective for the Company in the first quarter of fiscal 2014. The Company does not expect that the requirement will have a material impact on its consolidated financial statements. | ||
In March 2013, the FASB and International Accounting Standards Board ("IASB") issued common disclosure requirements that are intended to enhance comparability between financial statements prepared in accordance with U.S. GAAP and those prepared in accordance with International Financial Reporting Standards ("IFRS"). This new guidance is applicable to companies that have financial instruments or derivatives that are either offset in the balance sheet (presented on a net basis) or subject to an enforceable master netting arrangement or similar arrangement. The requirement does not change the existing offsetting eligibility criteria or the permitted balance sheet presentation for those instruments that meet the eligibility criteria. However, once this disclosure requirement becomes effective, companies will also be required to disclose information about financial instruments and derivatives instruments that have been offset and related arrangements and to provide both net (offset amounts) and gross information in the notes to the financial statements for relevant assets and liabilities that are offset. The disclosure requirement becomes effective retrospectively in the first quarter of the Company's fiscal year 2014. The Company does not expect that the requirement will have a material impact on its consolidated financial statements as it is disclosure only in nature. | ||
In March 2013, the FASB amended its guidance related to foreign currency matters requiring the release of the cumulative translation adjustment into net income when an entity ceases to have a controlling financial interest in a subsidiary or a group of assets within a foreign entity. The amendment will become effective for the Company in the first quarter of fiscal 2014. The Company does not expect that the requirement will have a material impact on its consolidated financial statements. | ||
In February 2013, the FASB amended its disclosure guidance related to the presentation of comprehensive income. The amendment requires reporting of the impact of significant reclassifications out of accumulated other comprehensive income or loss on the line items on the statement of operations, if a reclassification is required in its entirety in one reporting period. The amendment became effective for the Company in the first quarter of fiscal 2013 and did not have a significant impact on its consolidated financial statements. | ||
Other than as described above, there has been no issued accounting guidance not yet adopted by the Company that it believes is material or potentially material to its consolidated financial statements. |
Transactions_with_Total_and_To
Transactions with Total and Total S.A. | 12 Months Ended | ||||||||
Dec. 29, 2013 | |||||||||
Related Party Transactions [Abstract] | ' | ||||||||
Related Party Transactions Disclosure [Text Block] | ' | ||||||||
TRANSACTIONS WITH TOTAL AND TOTAL S.A. | |||||||||
On April 28, 2011, the Company and Total entered into a Tender Offer Agreement (the "Tender Offer Agreement"), pursuant to which, on May 3, 2011, Total commenced a cash tender offer to acquire up to 60% of the Company's outstanding shares of former class A common stock and up to 60% of the Company's outstanding shares of former class B common stock (the "Tender Offer") at a price of $23.25 per share for each class. The offer expired on June 14, 2011 and Total accepted for payment on June 21, 2011 a total of 34,756,682 shares of the Company's former class A common stock and 25,220,000 shares of the Company's former class B common stock, representing 60% of each class of its outstanding common stock as of June 13, 2011, for a total cost of approximately $1.4 billion. | |||||||||
On December 23, 2011, the Company entered into a Stock Purchase Agreement with Total, under which it agreed to acquire 100% of the equity interest of Tenesol S.A. from Total for $165.4 million in cash. The Tenesol acquisition was consummated on January 31, 2012. Contemporaneously with the execution of the Tenesol Stock Purchase Agreement, the Company entered into a Private Placement Agreement with Total, under which Total agreed to purchase, and the Company agreed to issue and sell, 18.6 million shares of the Company's common stock for a purchase price of $8.80 per share, thereby increasing Total's ownership to approximately 66% of the Company's outstanding common stock as of that date. The sale was completed contemporaneously with the closing of the Tenesol acquisition. | |||||||||
Credit Support Agreement | |||||||||
In connection with the Tender Offer, the Company and Total S.A. entered into a Credit Support Agreement (the "Credit Support Agreement") under which Total S.A. agreed to enter into one or more guarantee agreements (each a "Guaranty") with banks providing letter of credit facilities to the Company in support of certain Company businesses and other permitted purposes. Total S.A. will guarantee the payment to the applicable issuing bank of the Company's obligation to reimburse a draw on a letter of credit and pay interest thereon in accordance with the letter of credit facility between such bank and the Company. The Credit Support Agreement became effective on June 28, 2011 (the "CSA Effective Date"). Under the Credit Support Agreement the Company may request that Total S.A. provide a Guaranty in support of the Company's payment obligations with respect to a letter of credit facility. Total S.A. is required to issue and enter into the Guaranty requested by the Company, subject to certain terms and conditions that may be waived by Total S.A., and subject to certain other conditions. | |||||||||
In consideration for the commitments of Total S.A., under the Credit Support Agreement, the Company is required to pay Total S.A. a guarantee fee for each letter of credit that is the subject of a Guaranty and was outstanding for all or part of the preceding calendar quarter. | |||||||||
The Credit Support Agreement will terminate following the fifth anniversary of the CSA Effective Date, after the later of the payment in full of all obligations thereunder and the termination or expiration of each Guaranty provided thereunder. | |||||||||
Affiliation Agreement | |||||||||
In connection with the Tender Offer, the Company and Total entered into an Affiliation Agreement that governs the relationship between Total and the Company following the close of the Tender Offer (the "Affiliation Agreement"). Until the expiration of a standstill period (the "Standstill Period"), and subject to certain exceptions, Total, Total S.A., any of their respective affiliates and certain other related parties (the "Total Group") may not effect, seek, or enter into discussions with any third-party regarding any transaction that would result in the Total Group beneficially owning shares of the Company in excess of certain thresholds, or request the Company or the Company's independent directors, officers or employees, to amend or waive any of the standstill restrictions applicable to the Total Group. The standstill provisions of the Affiliation Agreement do not apply to securities issued in connection with the Liquidity Support Agreement described below. | |||||||||
The Affiliation Agreement imposes certain limitations on the Total Group's ability to seek to effect a tender offer or merger to acquire 100% of the outstanding voting power of the Company and imposes certain limitations on the Total Group's ability to transfer 40% or more of outstanding shares or voting power of the Company to a single person or group that is not a direct or indirect subsidiary of Total S.A. During the Standstill Period, no member of the Total Group may, among other things, solicit proxies or become a participant in an election contest relating to the election of directors to the Company's Board of Directors. | |||||||||
The Affiliation Agreement provides Total with the right to maintain its percentage ownership in connection with any new securities issued by the Company, and Total may also purchase shares on the open market or in private transactions with disinterested stockholders, subject in each case to certain restrictions. | |||||||||
The Affiliation Agreement also imposes certain restrictions with respect to the Company's and the Company's Board of Directors' ability to take certain actions, including specifying certain actions that require approval by the directors other than the directors appointed by Total and other actions that require stockholder approval by Total. | |||||||||
Research & Collaboration Agreement | |||||||||
In connection with the Tender Offer, Total and the Company have entered into a Research & Collaboration Agreement (the "R&D Agreement") that establishes a framework under which the parties engage in long-term research and development collaboration ("R&D Collaboration"). The R&D Collaboration encompasses a number of different projects ("R&D Projects"), with a focus on advancing technology in the area of photovoltaics. The primary purpose of the R&D Collaboration is to: (i) maintain and expand the Company's technology position in the crystalline silicon domain; (ii) ensure the Company's industrial competitiveness; and (iii) guarantee a sustainable position for both the Company and Total to be best-in-class industry players. | |||||||||
The R&D Agreement enables a joint committee (the "R&D Strategic Committee") to identify, plan and manage the R&D Collaboration. Due to the impracticability of anticipating and establishing all of the legal and business terms that are and will be applicable to the R&D Collaboration or to each R&D Project, the R&D Agreement sets forth broad principles applicable to the parties' potential R&D Collaboration, and the R&D Collaboration Committee establishes the particular terms governing each particular R&D Project consistent with the terms set forth in the R&D Agreement. | |||||||||
Liquidity Support Agreement with Total S.A. | |||||||||
The Company is party to an agreement with a customer to construct the California Valley Solar Ranch, a solar park. Part of the debt financing necessary for the customer to pay for the construction of this solar park is being provided by the Federal Financing Bank in reliance on a guarantee of repayment provided by the Department of Energy (the "DOE") under a loan guarantee program. On February 28, 2012, the Company entered into a Liquidity Support Agreement with Total S.A. and the DOE, and a series of related agreements with Total S.A. and Total, under which Total S.A. has agreed to provide the Company, or cause to be provided, additional liquidity under certain circumstances to a maximum amount of $600.0 million ("Liquidity Support Facility"). Total S.A. is required to provide liquidity support to the Company under the facility, and the Company is required to accept such liquidity support from Total S.A., if either the Company's actual or projected unrestricted cash, cash equivalents, and unused borrowing capacity are reduced below $100.0 million, or the Company fails to satisfy any financial covenant under its indebtedness. In either such event, subject to a $600.0 million aggregate limit, Total S.A. is required to provide the Company with sufficient liquidity support to increase the amount of its unrestricted cash, cash equivalents and unused borrowing capacity to above $100.0 million, and to restore compliance with its financial covenants. Total S.A.'s current guarantee of the Company's July 2013 revolving credit facility with Credit Agricole, as further described below, reduces the capacity available under the Liquidity Support Facility by $250.0 million. The Liquidity Support Facility is available until the completion of the solar park, expected to be completed in the beginning of fiscal 2014, and, under certain conditions, up to December 31, 2016, at which time all outstanding guarantees will expire (except for the Total S.A. guarantee of the Credit Agricole facility which will expire on or about January 31, 2014) and all outstanding debt under the facility will become due. The use of the Liquidity Support Facility is not limited to direct obligations related to the solar park, and is available for general corporate purposes, but the Company has agreed to conduct its operations, and use any proceeds from such facility, in ways that minimize the likelihood of Total S.A. being required to provide further support. In connection with the Liquidity Support Agreement, the Company also entered into a Compensation and Funding Agreement with Total S.A., and a Private Placement Agreement and a Revolving Credit and Convertible Loan Agreement with Total, which implement the terms of the Liquidity Support Agreement and Compensation Funding Agreement. | |||||||||
Compensation and Funding Agreement | |||||||||
In connection with the Liquidity Support Agreement, on February 28, 2012, the Company entered into a Compensation and Funding Agreement (the "Compensation and Funding Agreement") with Total S.A., pursuant to which, among other things, the Company and Total S.A. established the parameters for the terms of the Liquidity Support Facility and any liquidity injections that may be required to be provided by Total S.A. to the Company pursuant to the Liquidity Support Agreement. The Company has agreed in the Compensation and Funding Agreement to use commercially reasonable efforts to assist Total S.A. in the performance of its obligations under the Liquidity Support Agreement and to conduct, and to act in good faith in conducting, its affairs in a manner such that Total S.A.'s obligation under the Liquidity Support Agreement to provide liquidity injections will not be triggered or, if triggered, will be minimized. The Company has also agreed to use any cash provided under the facility in such a way as to minimize the need for further liquidity support. The Compensation and Funding Agreement required the Company to issue, in consideration for Total S.A.'s agreement to provide the Liquidity Support Facility, a warrant ("the Upfront Warrant") to Total that is exercisable to purchase a number of shares of the Company's common stock equal to $75.0 million, divided by the volume-weighted average price for the Company's common stock for the 30 trading-day period ending on the trading day immediately preceding the date of the calculation. The Upfront Warrant will be exercisable at any time for seven years after its issuance, provided that, so long as at least $25.0 million of the Company's convertible debt remains outstanding, such exercise will not cause "any person," including Total S.A., to, directly or indirectly, including through one or more wholly-owned subsidiaries, become the "beneficial owner" (as such terms are defined in Rule 13d-3 and Rule 13d-5 under the Securities and Exchange Act of 1934, as amended), of more than 74.99% of the voting power of the Company's common stock at such time, a circumstance which would trigger the repurchase or conversion of the Company's existing convertible debt. On February 28, 2012, the Company issued to Total the Upfront Warrant to purchase 9,531,677 shares of the Company's common stock with an exercise price of $7.8685, subject to adjustment for customary anti-dilution and other events. | |||||||||
Liquidity support may be provided by Total S.A. or through its affiliates in the form of revolving non-convertible debt, convertible debt, equity, guarantees of Company indebtedness or other forms of liquidity support agreed to by the Company, depending on the amount outstanding under the facility immediately prior to provision of the applicable support among other factors. The Company is required to compensate Total S.A. for any liquidity support actually provided, and the form and amount of such compensation depends on the form and amount of support provided, with the amount of compensation generally increasing with the amount of support provided over time. Such compensation is to be provided in a variety of forms including guarantee fees, warrants to purchase common stock, interest on amounts borrowed, and discounts on equity issued. | |||||||||
During the term of the Compensation and Funding Agreement, the Company will make certain cash payments to Total S.A. within 30 days after the end of each calendar quarter for the term of the agreement as follows: (i) quarterly payment of a commitment fee in an amount equal to 0.25% of the unused portion of the $600.0 million Liquidity Support Facility as of the end of such quarter; and (ii) quarterly payment of a guarantee fee in an amount equal to 2.75% per annum of the average amount of the Company's indebtedness that is guaranteed by Total S.A. pursuant to any guaranty issued in accordance with the terms of the Compensation and Funding Agreement during such quarter. Any payment obligations of the Company to Total S.A. under the Compensation and Funding Agreement that are not paid when due shall accrue interest until paid in full at a rate equal to 6-month U.S. LIBOR as in effect from time to time plus 5.00% per annum. | |||||||||
On December 24, 2012, Total S.A. issued a guarantee for the Company's obligations under the September 2011 revolving credit facility with Credit Agricole (the "September 2011 revolving credit facility"). The issuance of the guarantee reduced the capacity available under the Liquidity Support Facility from $600.0 million to $325.0 million. The Company was required to pay Total S.A. an annual guarantee fee of 2.75% of the outstanding amount under the September 2012 revolving credit facility. The guarantee reduced related interest rates and removed certain financial and restrictive covenants under the facility. On July 3, 2013, the Company terminated the September 2011 revolving credit facility after establishing a new revolving credit facility with Credit Agricole (the "July 2013 revolving credit facility"). Total S.A. has issued a guarantee for the Company's obligations under the July 2013 revolving credit facility. The issuance of the guarantee, together with the termination of the similar $275.0 million guaranty of the September 2011 revolving credit facility, as described above, increased the capacity available under the Liquidity Support Facility by $25.0 million. The Company is required to pay Total S.A. an annual guarantee fee of 2.75% of the outstanding amount under the July 2013 revolving credit facility (see Note 10). | |||||||||
0.75% Debentures Due 2018 | |||||||||
On May 29, 2013, the Company issued $300.0 million in principal amount of its 0.75% senior convertible debentures due 2018 (the "0.75% debentures due 2018"). $200.0 million in aggregate principal amount of the 0.75% debentures due 2018 were acquired by Total. The 0.75% debentures due 2018 are convertible into shares of the Company's common stock at any time based on an initial conversion price equal to $24.95 per share, which provides Total the right to acquire up to 8,017,420 shares of the Company's common stock. The applicable conversion rate may adjust in certain circumstances, including a fundamental change, as described in the indenture governing the 0.75% debentures due 2018 (see Note 10). | |||||||||
Related Party Transactions with Total and its Affiliates: | |||||||||
Year Ended | |||||||||
(In thousands) | 2013 | 2012 | |||||||
Research and development expense: | |||||||||
Offsetting contributions received under R&D Agreement | $ | 1,661 | $ | — | |||||
Interest expense: | |||||||||
Guarantee fees incurred under Credit Support Agreement | $ | 8,890 | $ | 6,916 | |||||
Fees incurred under the Compensation and Funding Agreement | $ | 5,533 | $ | 4,952 | |||||
Interest expense incurred on the 0.75% Debentures Due 2018 | $ | 883 | $ | — | |||||
Joint Projects with Total and its Affiliates: | |||||||||
In fiscal 2013, the Company entered into an EPC agreement with Total S.A., Etrion Corporation, and Solventus Energias Renovables to construct a 70 MW solar power plant in Chile. Total S.A., Etrion Corporation, and Solventus Energias Renovables will hold an ownership interest in the solar power plant. The Company has also entered into a long-term fixed price operations and maintenance agreement with the above owners. |
Goodwill_and_Other_Intangible_
Goodwill and Other Intangible Assets | 12 Months Ended |
Dec. 29, 2013 | |
Goodwill and Intangible Assets Disclosure [Abstract] | ' |
Goodwill and Intangible Assets Disclosure [Text Block] | ' |
GOODWILL AND OTHER INTANGIBLE ASSETS | |
Goodwill | |
The Company conducts its annual impairment test of goodwill as of the Sunday closest to the end of the third fiscal quarter of each year. Impairment of goodwill is tested at the Company's reporting unit level. Management determined that the Americas Segment, the EMEA Segment, and the APAC Segment are the reporting units. In estimating the fair value of the reporting units, the Company makes estimates and judgments about its future cash flows using an income approach defined as Level 3 inputs under fair value measurement standards. The income approach, specifically a discounted cash flow analysis, included assumptions for, among others, forecasted revenue, gross margin, operating income, working capital cash flow, perpetual growth rates and long-term discount rates, all of which require significant judgment by management. The sum of the fair values of the Company's reporting units are also compared to its external market capitalization to determine the appropriateness of its assumptions and adjusted, if appropriate. These assumptions took into account the current industry environment and its impact on the Company's business. | |
Based on the impairment test as of September 30, 2012, the Company determined that the carrying value of the Americas and EMEA reporting units exceeded their fair value. As a result, the Company performed the second step of the impairment analysis for the two reporting units discussed above. The Company's calculation of the implied fair value of goodwill included significant assumptions for, among others, the fair values of recognized assets and liabilities and of unrecognized intangible assets, all of which require significant judgment by management. The Company calculated that the implied fair value of goodwill for the two reporting units was zero and therefore recorded a goodwill impairment loss of $46.7 million, representing all of the goodwill associated with these reporting units. As of December 29, 2013 and December 30, 2012, the Company had no remaining goodwill balance. | |
Other Intangible Assets | |
The Company's acquired other intangible assets consist of patents, trade names and purchased technology; and purchased in-process research and development. The Company reviews intangible assets for impairment whenever events or changes in circumstances indicate that the carrying value of such assets may not be recoverable. During the third quarter of fiscal 2012, the Company determined that the carrying value of certain intangible assets in Europe were no longer recoverable based on a discrete evaluation of the nature of the intangible assets, incorporating the effect of declines in regional operating results. As a result, the Company recognized an impairment loss of $12.8 million on its Consolidated Statement of Operations for the year ended December 30, 2012. | |
As of December 29, 2013 and December 30, 2012, the Company's other intangible assets, net of accumulated depreciation, totaled zero and $0.7 million, respectively, within "Other long-term assets" on its Consolidated Balance Sheets. Aggregate amortization expense for other intangible assets totaled $0.7 million, $9.1 million, and $23.4 million for fiscal 2013, 2012 and 2011, respectively. |
Balance_Sheet_Components
Balance Sheet Components | 12 Months Ended | ||||||||||||||||
Dec. 29, 2013 | |||||||||||||||||
Balance Sheet Components [Abstract] | ' | ||||||||||||||||
Supplemental Balance Sheet Disclosures [Text Block] | ' | ||||||||||||||||
BALANCE SHEET COMPONENTS | |||||||||||||||||
As of | |||||||||||||||||
(In thousands) | 2013 | 2012 | |||||||||||||||
Accounts receivable, net: | |||||||||||||||||
Accounts receivable, gross1,2 | $ | 389,152 | $ | 429,977 | |||||||||||||
Less: allowance for doubtful accounts | (26,463 | ) | (26,773 | ) | |||||||||||||
Less: allowance for sales returns | (2,095 | ) | (5,054 | ) | |||||||||||||
$ | 360,594 | $ | 398,150 | ||||||||||||||
1 | Includes short-term financing receivables associated with solar power systems leased of $4.4 million and $4.5 million as of fiscal 2013 and 2012, respectively (see Note 5). | ||||||||||||||||
2 | Includes short-term retainage of $8.3 million and $71.1 million as of fiscal 2013 and fiscal 2012, respectively. Retainage refers to the earned, but unbilled, portion of a construction and development project which is withheld for payment by the customer until certain milestones are met in accordance with the related contract. | ||||||||||||||||
(In thousands) | Balance at Beginning of Period | Charges (Releases) to Expenses / Revenues | Deductions | Balance at End of Period | |||||||||||||
Allowance for doubtful accounts: | |||||||||||||||||
Year ended December 29, 2013 | $ | 26,773 | $ | 8,258 | $ | (8,568 | ) | $ | 26,463 | ||||||||
Year ended December 30, 2012 | 21,039 | 8,898 | (3,164 | ) | 26,773 | ||||||||||||
Year ended January 1, 2012 | 5,967 | 18,398 | (3,326 | ) | 21,039 | ||||||||||||
Allowance for sales returns: | |||||||||||||||||
Year ended December 29, 2013 | 5,054 | (2,959 | ) | — | 2,095 | ||||||||||||
Year ended December 30, 2012 | 8,648 | (3,594 | ) | — | 5,054 | ||||||||||||
Year ended January 1, 2012 | 2,387 | 6,261 | — | 8,648 | |||||||||||||
Valuation allowance for deferred tax assets: | |||||||||||||||||
Year ended December 29, 2013 | 182,322 | (91,751 | ) | — | 90,571 | ||||||||||||
Year ended December 30, 2012 | 129,946 | 52,376 | — | 182,322 | |||||||||||||
Year ended January 1, 2012 | 4,644 | 125,302 | — | 129,946 | |||||||||||||
As of | |||||||||||||||||
(In thousands) | 2013 | 2012 | |||||||||||||||
Inventories: | |||||||||||||||||
Raw materials | $ | 51,905 | $ | 95,227 | |||||||||||||
Work-in-process | 52,756 | 40,048 | |||||||||||||||
Finished goods | 140,914 | 156,111 | |||||||||||||||
$ | 245,575 | $ | 291,386 | ||||||||||||||
Prepaid expenses and other current assets: | |||||||||||||||||
Deferred project costs | $ | 275,389 | $ | 305,980 | |||||||||||||
Bond hedge derivative | 110,477 | — | |||||||||||||||
VAT receivables, current portion | 21,481 | 97,041 | |||||||||||||||
Deferred costs for solar power systems to be leased | 23,429 | 31,419 | |||||||||||||||
Foreign currency derivatives | 4,642 | 1,275 | |||||||||||||||
Other receivables | 112,062 | 104,640 | |||||||||||||||
Other prepaid expenses | 28,629 | 25,230 | |||||||||||||||
Other current assets | 70,161 | 47,468 | |||||||||||||||
$ | 646,270 | $ | 613,053 | ||||||||||||||
Project assets - plants and land: | |||||||||||||||||
Project assets — plants | $ | 64,564 | $ | 61,862 | |||||||||||||
Project assets — land | 11,043 | 21,645 | |||||||||||||||
$ | 75,607 | $ | 83,507 | ||||||||||||||
Project assets - plants and land, current portion | $ | 69,196 | $ | 75,911 | |||||||||||||
Project assets - plants and land, net of current portion | $ | 6,411 | $ | 7,596 | |||||||||||||
As of | |||||||||||||||||
(In thousands) | 2013 | 2012 | |||||||||||||||
Property, plant and equipment, net: | |||||||||||||||||
Manufacturing equipment3 | $ | 538,616 | $ | 531,289 | |||||||||||||
Land and buildings | 26,138 | 20,109 | |||||||||||||||
Leasehold improvements | 229,846 | 221,378 | |||||||||||||||
Solar power systems4 | 82,036 | 12,501 | |||||||||||||||
Computer equipment | 79,519 | 75,438 | |||||||||||||||
Furniture and fixtures | 8,392 | 8,178 | |||||||||||||||
Construction-in-process | 11,724 | 34,110 | |||||||||||||||
976,271 | 903,003 | ||||||||||||||||
Less: accumulated depreciation | (442,884 | ) | (376,089 | ) | |||||||||||||
$ | 533,387 | $ | 526,914 | ||||||||||||||
3 | The Company's mortgage loan agreement with International Finance Corporation ("IFC") is collateralized by certain manufacturing equipment with a net book value of $145.9 million and $152.9 million as of December 29, 2013 and December 30, 2012, respectively. The Company also provided security for advance payments received from a third-party supplier in the form of collateralized manufacturing equipment with a net book value of $16.5 million as of December 30, 2012. | ||||||||||||||||
4 | Includes $52.6 million of solar power systems associated with sale-leaseback transactions under the financing method as of December 29, 2013 (see Note 5). | ||||||||||||||||
Property, plant and equipment, net by geography5: | |||||||||||||||||
Philippines | $ | 321,410 | $ | 367,708 | |||||||||||||
United States | 153,074 | 95,715 | |||||||||||||||
Mexico | 32,705 | 32,409 | |||||||||||||||
Europe | 25,293 | 29,292 | |||||||||||||||
Other | 905 | 1,790 | |||||||||||||||
$ | 533,387 | $ | 526,914 | ||||||||||||||
5 | Property, plant and equipment, net are based on the physical location of the assets. | ||||||||||||||||
Other long-term assets: | |||||||||||||||||
Equity method investments | $ | 131,739 | $ | 111,516 | |||||||||||||
Retainage6 | 88,934 | — | |||||||||||||||
Cost method investments | 12,374 | 14,918 | |||||||||||||||
Long-term debt issuance costs | 10,274 | 38,185 | |||||||||||||||
Bond hedge derivative | — | 2,327 | |||||||||||||||
Other | 55,156 | 42,119 | |||||||||||||||
$ | 298,477 | $ | 209,065 | ||||||||||||||
6 | Retainage refers to the earned, but unbilled, portion of a construction and development project which is withheld for payment by the customer until certain milestones are met in accordance with the related contract. The Company's noncurrent retainage is expected to be collected in 2015 through 2016. | ||||||||||||||||
As of | |||||||||||||||||
(In thousands) | 2013 | 2012 | |||||||||||||||
Accrued liabilities: | |||||||||||||||||
Bond hedge derivatives | $ | 110,477 | $ | — | |||||||||||||
Employee compensation and employee benefits | 50,449 | 40,750 | |||||||||||||||
Deferred revenue | 29,287 | 32,507 | |||||||||||||||
Short-term residential lease financing | 14,436 | 25,153 | |||||||||||||||
Interest payable | 10,971 | 9,672 | |||||||||||||||
Short-term warranty reserves | 10,426 | 9,054 | |||||||||||||||
Restructuring reserve | 7,134 | 29,477 | |||||||||||||||
VAT payables | 7,089 | 2,049 | |||||||||||||||
Foreign currency derivatives | 6,170 | 4,891 | |||||||||||||||
Other | 111,718 | 93,819 | |||||||||||||||
$ | 358,157 | $ | 247,372 | ||||||||||||||
Other long-term liabilities: | |||||||||||||||||
Deferred revenue | $ | 176,925 | $ | 128,936 | |||||||||||||
Long-term warranty reserves | 138,946 | 107,803 | |||||||||||||||
Long-term sale-leaseback financing | 65,944 | — | |||||||||||||||
Long-term residential lease financing | 31,933 | 11,411 | |||||||||||||||
Unrecognized tax benefits | 28,927 | 35,022 | |||||||||||||||
Embedded conversion option derivatives | — | 2,327 | |||||||||||||||
Other | 81,316 | 50,120 | |||||||||||||||
$ | 523,991 | $ | 335,619 | ||||||||||||||
Accumulated other comprehensive loss: | |||||||||||||||||
Cumulative translation adjustment | $ | (3,766 | ) | $ | (2,319 | ) | |||||||||||
Net unrealized loss on derivatives | (805 | ) | (243 | ) | |||||||||||||
Deferred taxes | 253 | 41 | |||||||||||||||
$ | (4,318 | ) | $ | (2,521 | ) |
Leasing
Leasing | 12 Months Ended | |||||||||||||||||||||||
Dec. 29, 2013 | ||||||||||||||||||||||||
Leases [Abstract] | ' | |||||||||||||||||||||||
Leases of Lessor Disclosure [Text Block] | ' | |||||||||||||||||||||||
LEASING | ||||||||||||||||||||||||
Residential Lease Program | ||||||||||||||||||||||||
The Company offers a solar lease program, in partnership with third-party financial institutions, which allows its residential customers to obtain SunPower systems under lease agreements for terms of up to 20 years. Leases are classified as either operating or sales-type leases in accordance with the relevant accounting guidelines (see Note 1). | ||||||||||||||||||||||||
Operating Leases | ||||||||||||||||||||||||
The following table summarizes "Solar power systems leased and to be leased" under operating leases on the Company's Consolidated Balance Sheets as of December 29, 2013 and December 30, 2012, respectively: | ||||||||||||||||||||||||
As of | ||||||||||||||||||||||||
(In thousands) | 2013 | 2012 | ||||||||||||||||||||||
Solar power systems leased and to be leased, net1: | ||||||||||||||||||||||||
Solar power systems leased | $ | 324,202 | $ | 163,003 | ||||||||||||||||||||
Solar power systems to be leased | 36,645 | 89,423 | ||||||||||||||||||||||
360,847 | 252,426 | |||||||||||||||||||||||
Less: accumulated depreciation | (15,343 | ) | (4,431 | ) | ||||||||||||||||||||
$ | 345,504 | $ | 247,995 | |||||||||||||||||||||
1 | Solar power systems leased and to be leased, net are physically located in the United States. | |||||||||||||||||||||||
The following table presents the Company's minimum future rental receipts on operating leases placed in service as of December 29, 2013: | ||||||||||||||||||||||||
(In thousands) | 2014 | 2015 | 2016 | 2017 | 2018 | Thereafter | Total | |||||||||||||||||
Minimum future rentals on operating leases placed in service1 | $ | 17,202 | 7,931 | 7,962 | 7,993 | 8,026 | 112,627 | $ | 161,741 | |||||||||||||||
1 | Minimum future rentals on operating leases placed in service does not include contingent rentals that may be received from customers under agreements which include performance based incentives. | |||||||||||||||||||||||
Sales-Type Leases | ||||||||||||||||||||||||
As of December 29, 2013 and December 30, 2012, the Company's net investment in sales-type leases presented in "Accounts receivable" and "Long-term financing receivables, net" on the Company's Consolidated Balance Sheets was as follows: | ||||||||||||||||||||||||
As of | ||||||||||||||||||||||||
(In thousands) | 2013 | 2012 | ||||||||||||||||||||||
Financing receivables: | ||||||||||||||||||||||||
Minimum lease payments receivable1 | $ | 217,666 | $ | 91,193 | ||||||||||||||||||||
Unguaranteed residual value | 23,366 | 8,862 | ||||||||||||||||||||||
Unearned income | (61,326 | ) | (27,779 | ) | ||||||||||||||||||||
Net financing receivables | $ | 179,706 | $ | 72,276 | ||||||||||||||||||||
Current | $ | 4,433 | $ | 4,534 | ||||||||||||||||||||
Long-term | $ | 175,273 | $ | 67,742 | ||||||||||||||||||||
1 | Net of allowance for doubtful accounts. | |||||||||||||||||||||||
As of December 29, 2013, future maturities of net financing receivables for sales-type leases are as follows: | ||||||||||||||||||||||||
(In thousands) | 2014 | 2015 | 2016 | 2017 | 2018 | Thereafter | Total | |||||||||||||||||
Scheduled maturities of minimum lease payments receivable1 | $ | 4,433 | 10,086 | 10,222 | 10,362 | 10,508 | 172,055 | $ | 217,666 | |||||||||||||||
1 | Minimum future rentals on sales-type leases placed in service does not include contingent rentals that may be received from customers under agreements which include performance based incentives. | |||||||||||||||||||||||
Third-Party Financing Arrangements | ||||||||||||||||||||||||
The Company has entered into multiple facilities under which solar power systems are financed with third-party investors. Under the terms of certain programs the investors make upfront payments to the Company, which the Company recognizes as a non-recourse liability that will be reduced over the specified term of the program as customer receivables and government incentives are received by the third-party investors. As the non-recourse liability is reduced over time, the Company makes a corresponding reduction in customer and government incentive receivables on its balance sheet. Under this approach, for both operating and sales-type leases the Company continues to account for these arrangements with its residential lease customers in the consolidated financial statements. As of December 29, 2013, and December 30, 2012, the remaining liability to the third-party investors, presented in "Accrued liabilities" and "Other long-term liabilities" on the Company's Consolidated Balance Sheets, was $46.4 million and $36.6 million, respectively (see Note 4). As of December 29, 2013 and December 30, 2012, the Company has pledged solar assets with an aggregate book value of $147.7 million and $252.4 million, respectively, to the third-party investors as security for its obligations under the contractual arrangements. | ||||||||||||||||||||||||
Beginning in the first quarter of fiscal 2013, the Company has entered into facilities with third-party investors under which the parties will invest in entities which hold SunPower solar power systems and leases with residential customers. The Company was determined to hold controlling interests in these less than wholly owned entities and has fully consolidated these entities as a result. The Company accounts for the portion of net assets in the consolidated entities attributable to the investors as "Noncontrolling interests" in its consolidated financial statements (see Note 1). As of December 29, 2013, the Company has entered into a total of five facilities with third-party investors. During fiscal 2013, the Company received $100.0 million in contributions from investors under the related facility agreements. | ||||||||||||||||||||||||
Sale-Leaseback Arrangements | ||||||||||||||||||||||||
The Company enters into sale-leaseback arrangements under which solar power systems are sold to third parties and subsequently leased back over minimum lease terms of up to 20 years. Separately, the Company enters into power purchase agreements ("PPAs") with end customers, who host the leased solar power systems and buy the electricity directly from the Company under PPAs with durations of up to 20 years. At the end of the lease term, the Company has the option to purchase the systems at fair value or may be required to remove the systems and return them to the third parties. | ||||||||||||||||||||||||
The Company has classified its sale-leaseback arrangements of solar power systems not involving integral equipment as operating leases. The deferred profit on the sale of these systems is recognized over the term of the lease. As of December 29, 2013, future minimum lease obligations associated with these systems was $105.0 million, which will be recognized over the minimum lease terms. As of December 29, 2013, future minimum payments to be received from customers under PPAs associated with the solar power systems under sale-leaseback arrangements classified as operating leases was $77.3 million, which will be recognized over the lease terms of up to 20 years. The above future minimum lease payments to be received does not include contingent rentals that may be received from customers under PPAs on the basis of energy produced. | ||||||||||||||||||||||||
Beginning in the first quarter of fiscal 2013, the Company entered into sale-leaseback arrangements under which the systems under the sale-leaseback arrangements have been determined to be integral equipment as defined under the accounting guidance for such transactions. The Company was further determined to have continuing involvement with the solar power systems throughout the lease due to purchase option rights. As a result of such continuing involvement, the Company accounts for each transaction as a financing. Under the financing method, the proceeds received from the sale of the solar power systems are recorded by the Company as financing liabilities and presented within "Other long-term liabilities" in the Company's Consolidated Balance Sheets (see Note 4). The financing liabilities are subsequently reduced by the Company's payments to lease back the solar power systems, less interest expense calculated based on the Company's incremental borrowing rate adjusted to the rate required to prevent negative amortization. The solar power systems under the sale-leaseback arrangements remains on the Company's balance sheet and are classified within "Property, plant and equipment, net" (see Note 4). As of December 29, 2013, future minimum lease obligations for the sale-leaseback arrangements accounted for under the financing method were $63.8 million, which will be recognized over the lease terms of up to 20 years. |
Fair_Value_Measurements
Fair Value Measurements | 12 Months Ended | ||||||||||||||||||||||||
Dec. 29, 2013 | |||||||||||||||||||||||||
Fair Value Disclosures [Abstract] | ' | ||||||||||||||||||||||||
Fair Value Disclosures [Text Block] | ' | ||||||||||||||||||||||||
FAIR VALUE MEASUREMENTS | |||||||||||||||||||||||||
Fair value is estimated by applying the following hierarchy, which prioritizes the inputs used to measure fair value into three levels and bases the categorization within the hierarchy upon the lowest level of input that is available and significant to the fair value measurement (observable inputs are the preferred basis of valuation): | |||||||||||||||||||||||||
• | Level 1 — Quoted prices in active markets for identical assets or liabilities. | ||||||||||||||||||||||||
• | Level 2 — Measurements are inputs that are observable for assets or liabilities, either directly or indirectly, other than quoted prices included within Level 1. | ||||||||||||||||||||||||
• | Level 3 — Prices or valuations that require management inputs that are both significant to the fair value measurement and unobservable. | ||||||||||||||||||||||||
Assets and Liabilities Measured at Fair Value on a Recurring Basis | |||||||||||||||||||||||||
The Company measures certain assets and liabilities at fair value on a recurring basis. There were no transfers between fair value measurement levels during any presented period. The Company did not have any assets or liabilities measured at fair value on a recurring basis requiring Level 3 inputs as of December 29, 2013 or December 30, 2012. | |||||||||||||||||||||||||
The following table summarizes the Company's assets and liabilities measured and recorded at fair value on a recurring basis as of December 29, 2013 and December 30, 2012, respectively: | |||||||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||||||
(In thousands) | Total | Level 1 | Level 2 | Total | Level 1 | Level 2 | |||||||||||||||||||
Assets | |||||||||||||||||||||||||
Cash and cash equivalents: | |||||||||||||||||||||||||
Money market funds1 | $ | 358,001 | $ | 358,001 | $ | — | $ | 117,254 | $ | 117,254 | $ | — | |||||||||||||
Prepaid expenses and other current assets: | |||||||||||||||||||||||||
Debt derivatives (Note 10) | 110,477 | — | 110,477 | — | — | — | |||||||||||||||||||
Foreign currency derivatives (Note 11) | 4,642 | — | 4,642 | 1,275 | — | 1,275 | |||||||||||||||||||
Other long-term assets: | |||||||||||||||||||||||||
Debt derivatives (Note 10) | — | — | — | 2,327 | — | 2,327 | |||||||||||||||||||
Foreign currency derivatives (Note 11) | 588 | — | 588 | — | — | — | |||||||||||||||||||
Total assets | $ | 473,708 | $ | 358,001 | $ | 115,707 | $ | 120,856 | $ | 117,254 | $ | 3,602 | |||||||||||||
Liabilities | |||||||||||||||||||||||||
Accrued liabilities: | |||||||||||||||||||||||||
Debt derivatives (Note 10) | $ | 110,477 | $ | — | $ | 110,477 | $ | — | $ | — | $ | — | |||||||||||||
Foreign currency derivatives (Note 11) | 6,170 | — | 6,170 | 4,891 | — | 4,891 | |||||||||||||||||||
Other long-term liabilities: | |||||||||||||||||||||||||
Debt derivatives (Note 10) | — | — | — | 2,327 | — | 2,327 | |||||||||||||||||||
Foreign currency derivatives (Note 11) | 555 | — | 555 | — | — | — | |||||||||||||||||||
Total liabilities | $ | 117,202 | $ | — | $ | 117,202 | $ | 7,218 | $ | — | $ | 7,218 | |||||||||||||
1 | The Company's cash equivalents consist of money market fund instruments which are classified as available-for-sale and within Level 1 of the fair value hierarchy because they are valued using quoted market prices for identical instruments in active markets. | ||||||||||||||||||||||||
Other financial instruments, including the Company's accounts receivable, accounts payable and accrued liabilities, are carried at cost, which generally approximates fair value due to the short-term nature of these instruments. | |||||||||||||||||||||||||
Available-for-Sale Debt Securities | |||||||||||||||||||||||||
In the second quarter of fiscal 2013, the Company purchased $99.9 million in U.S. government bonds, classified as available-for-sale. The Company valued these bonds based on movements of U.S. Treasury bond rates, which are observable at commonly quoted market intervals, since the time of purchase. Accordingly, the available-for-sale debt securities were categorized in Level 2 of the fair value hierarchy. During the third quarter of fiscal 2013, the Company sold all the bonds held for proceeds totaling $100.0 million. | |||||||||||||||||||||||||
Debt Derivatives | |||||||||||||||||||||||||
The 4.50% Bond Hedge (as defined in Note 10) and the embedded cash conversion option within the 4.50% debentures (as defined in Note 10) are classified as derivative instruments that require mark-to-market treatment with changes in fair value reported in the Company's Consolidated Statements of Operations. The fair values of these derivative instruments were determined utilizing the following Level 1 and Level 2 inputs: | |||||||||||||||||||||||||
As of | |||||||||||||||||||||||||
20131 | 20121 | ||||||||||||||||||||||||
Stock price | $ | 28.91 | $ | 5.49 | |||||||||||||||||||||
Exercise price | $ | 22.53 | $ | 22.53 | |||||||||||||||||||||
Interest rate | 0.33 | % | 0.4 | % | |||||||||||||||||||||
Stock volatility | 57.7 | % | 59.9 | % | |||||||||||||||||||||
Credit risk adjustment | 0.71 | % | 1.07 | % | |||||||||||||||||||||
Maturity date | 18-Feb-15 | 18-Feb-15 | |||||||||||||||||||||||
1 | The valuation model utilizes these inputs to value the right but not the obligation to purchase one share at $22.53. The Company utilized a Black-Scholes valuation model to value the 4.50% Bond Hedge and embedded cash conversion option. The underlying input assumptions were determined as follows: | ||||||||||||||||||||||||
(i) | Stock price. The closing price of the Company's common stock on the last trading day of the quarter. | ||||||||||||||||||||||||
(ii) | Exercise price. The exercise price of the 4.50% Bond Hedge and the embedded cash conversion option. | ||||||||||||||||||||||||
(iii) | Interest rate. The Treasury Strip rate associated with the life of the 4.50% Bond Hedge and the embedded cash conversion option. | ||||||||||||||||||||||||
(iv) | Stock volatility. The volatility of the Company's common stock over the life of the 4.50% Bond Hedge and the embedded cash conversion option. | ||||||||||||||||||||||||
(v) | Credit risk adjustment. Represents the weighted average of the credit default swap rate of the counterparties. | ||||||||||||||||||||||||
Assets and Liabilities Measured at Fair Value on a Non-Recurring Basis | |||||||||||||||||||||||||
The Company measures certain investments and non-financial assets (including project assets, property, plant and equipment, and other intangible assets) at fair value on a non-recurring basis in periods after initial measurement in circumstances when the fair value of such asset is impaired below its recorded cost. Information regarding the Company's other intangible asset balances are disclosed in Note 3. | |||||||||||||||||||||||||
Held-to-Maturity Debt Securities | |||||||||||||||||||||||||
The Company's debt securities, classified as held-to-maturity, consist of Philippine government bonds which are maintained as collateral for present and future business transactions within the country. These bonds have maturity dates of up to 5 years and are classified as "Restricted long-term marketable securities" on the Company's Consolidated Balance Sheets. As of December 29, 2013 and December 30, 2012, these bonds had a carrying value of $8.9 million and $10.9 million respectively. The Company records such held-to-maturity investments at amortized cost based on its ability and intent to hold the securities until maturity. The Company monitors for changes in circumstances and events that would impact its ability and intent to hold such securities until the recorded amortized costs are recovered. No other-than-temporary impairment loss was incurred during any presented period. The held-to-maturity debt securities were categorized in Level 2 of the fair value hierarchy. | |||||||||||||||||||||||||
Equity and Cost Method Investments | |||||||||||||||||||||||||
The Company holds equity investments in non-consolidated entities which are accounted for under the both equity and cost method. The Company monitors these investments, which are included in "Other long-term assets" in its Consolidated Balance Sheets, for impairment and records reductions in the carrying values when necessary. Circumstances that indicate an other-than-temporary decline include Level 2 and Level 3 measurements such as the valuation ascribed to the issuing company in subsequent financing rounds, decreases in quoted market prices, and declines in operations of the issuer. | |||||||||||||||||||||||||
As of December 29, 2013 and December 30, 2012, the Company had $131.7 million and $111.5 million, respectively, in investments accounted for under the equity method (see Note 9). As of December 29, 2013 and December 30, 2012, the Company had $12.4 million and $14.9 million, respectively, in investments accounted for under the cost method. | |||||||||||||||||||||||||
Related Party Transactions with Equity and Cost Method Investees: | |||||||||||||||||||||||||
As of | |||||||||||||||||||||||||
(In thousands) | 2013 | 2012 | |||||||||||||||||||||||
Accounts receivable | $ | 11,780 | $ | 23,713 | |||||||||||||||||||||
Accounts payable | 51,499 | 73,669 | |||||||||||||||||||||||
Other long-term assets: | |||||||||||||||||||||||||
Long-term note receivable | 3,688 | 1,040 | |||||||||||||||||||||||
Year Ended | |||||||||||||||||||||||||
(In thousands) | 2013 | 2012 | 2011 | ||||||||||||||||||||||
Payments made to investees for products/services | $ | 480,802 | $ | 606,301 | $ | 449,149 | |||||||||||||||||||
Restructuring
Restructuring | 12 Months Ended | ||||||||||||||||
Dec. 29, 2013 | |||||||||||||||||
Restructuring and Related Activities [Abstract] | ' | ||||||||||||||||
Restructuring and Related Activities Disclosure [Text Block] | ' | ||||||||||||||||
RESTRUCTURING | |||||||||||||||||
October 2012 Restructuring Plan | |||||||||||||||||
On October 12, 2012, the Company's Board of Directors approved a reorganization (the "October 2012 Plan") to accelerate operating cost reduction and improve overall operating efficiency. In connection with the October 2012 Plan, which is expected to be completed within the first half of fiscal 2014, the Company expects to eliminate approximately 900 positions, primarily in the Philippines, representing approximately 15% of the Company's global workforce. As a result, the Company expects to record restructuring charges totaling $30.0 million to $35.0 million, related to all segments. Such charges are composed of severance benefits, lease and related termination costs, and other associated costs. The Company expects greater than 90% of these charges to be cash. | |||||||||||||||||
Legacy Restructuring Plans | |||||||||||||||||
During fiscal 2012 and 2011, the Company implemented approved restructuring plans, related to all segments, to align with changes in the global solar market which included the consolidation of the Company's Philippine manufacturing operations as well as actions to accelerate operating cost reduction and improve overall operating efficiency. These restructuring activities were substantially complete as of December 29, 2013, as the remaining accrual is primarily attributable to ongoing facility lease obligations. The Company expects to continue to incur restructuring costs as it revises previous estimates in connection with these plans. Revisions to estimates will primarily be due to changes in assumptions associated with lease and related termination costs. | |||||||||||||||||
The following table summarizes the restructuring charges recognized in the Company's Consolidated Statements of Operations: | |||||||||||||||||
Year ended | Cumulative To Date | ||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||
October 2012 Plan: | |||||||||||||||||
Severance and benefits | $ | (776 | ) | $ | 29,053 | $ | — | $ | 28,277 | ||||||||
Lease and related termination costs | 30 | 714 | — | 744 | |||||||||||||
Other costs | 1,987 | 460 | — | 2,447 | |||||||||||||
1,241 | 30,227 | — | 31,468 | ||||||||||||||
Legacy Restructuring Plans: | |||||||||||||||||
Non-cash impairment charges | 443 | 60,153 | — | 60,596 | |||||||||||||
Severance and benefits | 241 | 1,345 | 18,491 | 20,077 | |||||||||||||
Lease and related termination costs | 580 | 3,518 | 688 | 4,786 | |||||||||||||
Other costs | 97 | 5,580 | 2,224 | 7,901 | |||||||||||||
1,361 | 70,596 | 21,403 | 93,360 | ||||||||||||||
Total restructuring charges | $ | 2,602 | $ | 100,823 | $ | 21,403 | $ | 124,828 | |||||||||
The following table summarizes the restructuring reserve activity during the year ended December 29, 2013: | |||||||||||||||||
(In thousands) | 2012 | Charges (Benefits) | Payments | 2013 | |||||||||||||
October 2012 Plan: | |||||||||||||||||
Severance and benefits | $ | 24,439 | $ | (776 | ) | $ | (19,721 | ) | $ | 3,942 | |||||||
Lease and related termination costs | 714 | 30 | (382 | ) | 362 | ||||||||||||
Other costs1 | 358 | 1,987 | (1,431 | ) | 914 | ||||||||||||
Legacy Restructuring Plans: | |||||||||||||||||
Severance and benefits | 60 | 241 | (282 | ) | 19 | ||||||||||||
Lease and related termination costs | 2,436 | 580 | (1,769 | ) | 1,247 | ||||||||||||
Other costs1 | 1,470 | 97 | (917 | ) | 650 | ||||||||||||
Total restructuring liabilities | $ | 29,477 | $ | 2,159 | $ | (24,502 | ) | $ | 7,134 | ||||||||
1 | Other costs primarily represent associated legal services. |
Commitments_and_Contingencies
Commitments and Contingencies | 12 Months Ended | |||||||||||||||||||||||
Dec. 29, 2013 | ||||||||||||||||||||||||
Commitments and Contingencies Disclosure [Abstract] | ' | |||||||||||||||||||||||
Commitments and Contingencies Disclosure [Text Block] | ' | |||||||||||||||||||||||
COMMITMENTS AND CONTINGENCIES | ||||||||||||||||||||||||
Facility and Equipment Lease Commitments | ||||||||||||||||||||||||
The Company leases certain facilities under non-cancellable operating leases from unaffiliated third parties. As of December 29, 2013, future minimum lease payments for facilities under operating leases was $63.0 million, which will be paid over the remaining contractual terms of up to 10 years. The Company additionally leases certain buildings, machinery and equipment under non-cancelable capital leases. As of December 29, 2013, future minimum lease payments for assets under capital leases was $6.6 million, which will be paid over the remaining contractual terms of up to 10 years. | ||||||||||||||||||||||||
Purchase Commitments | ||||||||||||||||||||||||
The Company purchases raw materials for inventory and manufacturing equipment from a variety of vendors. During the normal course of business, in order to manage manufacturing lead times and help assure adequate supply, the Company enters into agreements with contract manufacturers and suppliers that either allow them to procure goods and services based on specifications defined by the Company, or that establish parameters defining the Company's requirements. In certain instances, these agreements allow the Company the option to cancel, reschedule or adjust the Company's requirements based on its business needs prior to firm orders being placed. Consequently, only a portion of the Company's disclosed purchase commitments arising from these agreements are firm, non-cancellable, and unconditional commitments. | ||||||||||||||||||||||||
The Company also has agreements with several suppliers, including some of its non-consolidated investees, for the procurement of polysilicon, ingots, wafers, solar cells, solar panels, and Solar Renewable Energy Credits which specify future quantities and pricing of products to be supplied by the vendors for periods up to 10 years and provide for certain consequences, such as forfeiture of advanced deposits and liquidated damages relating to previous purchases, in the event that the Company terminates the arrangements. | ||||||||||||||||||||||||
Future purchase obligations under non-cancellable purchase orders and long-term supply agreements as of December 29, 2013 are as follows: | ||||||||||||||||||||||||
(In thousands) | 2014 | 2015 | 2016 | 2017 | 2018 | Thereafter | Total1,2 | |||||||||||||||||
Future purchase obligations | $ | 819,732 | 374,393 | 337,092 | 300,468 | 181,553 | 335,542 | $ | 2,348,780 | |||||||||||||||
1 | Total future purchase obligations as of December 29, 2013 include $39.7 million to related parties. | |||||||||||||||||||||||
2 | Total future purchase obligations was comprised of $235.0 million related to non-cancellable purchase orders and $2.1 billion related to long-term supply agreements. | |||||||||||||||||||||||
The Company expects that all obligations related to non-cancellable purchase orders for manufacturing equipment will be recovered through future cash flows of the solar cell manufacturing lines and solar panel assembly lines when such long-lived assets are placed in service. Factors considered important that could result in an impairment review include significant under-performance relative to expected historical or projected future operating results, significant changes in the manner of use of acquired assets, and significant negative industry or economic trends. Obligations related to non-cancellable purchase orders for inventories match current and forecasted sales orders that will consume these ordered materials and actual consumption of these ordered materials are compared to expected demand regularly. The Company anticipates total obligations related to long-term supply agreements for inventories will be recovered because quantities are less than management's expected demand for its solar power products. The terms of the long-term supply agreements are reviewed by management and the Company assesses the need for any accruals for estimated losses on adverse purchase commitments, such as lower of cost or market value adjustments that will not be recovered by future sales prices, forfeiture of advanced deposits and liquidated damages, as necessary. | ||||||||||||||||||||||||
Advances to Suppliers | ||||||||||||||||||||||||
As noted above, the Company has entered into agreements with various vendors that specify future quantities and pricing of products to be supplied. Certain agreements also provide for penalties or forfeiture of advanced deposits in the event the Company terminates the arrangements. Under certain agreements, the Company is required to make prepayments to the vendors over the terms of the arrangements. During fiscal 2013, the Company made additional advance payments totaling $81.2 million in accordance with the terms of existing long-term supply agreements. As of December 29, 2013 and December 30, 2012, advances to suppliers totaled $383.3 million and $351.4 million, respectively, of which $58.6 million and $50.3 million, respectively, is classified as short-term in the Company's Consolidated Balance Sheets. Two suppliers accounted for 77% and 22% of total advances to suppliers as of December 29, 2013, and 76% and 23% as of December 30, 2012. As of December 29, 2013, the Company has future prepayment obligations through fiscal 2014 totaling $65.8 million. | ||||||||||||||||||||||||
Advances from Customers | ||||||||||||||||||||||||
The Company has entered into other agreements with customers who have made advance payments for solar power products and systems. These advances will be applied as shipments of product occur or upon completion of certain project milestones. The estimated utilization of advances from customers as of December 29, 2013 is as follows: | ||||||||||||||||||||||||
(In thousands) | 2014 | 2015 | 2016 | 2017 | 2018 | Thereafter | Total | |||||||||||||||||
Estimated utilization of advances from customers | $ | 36,883 | 18,387 | 22,713 | 27,039 | 27,039 | 72,104 | $ | 204,165 | |||||||||||||||
In fiscal 2010, the Company and its joint venture, AUO SunPower Sdn. Bhd. ("AUOSP"), entered into an agreement under which the Company resells to AUOSP polysilicon purchased from a third-party supplier. Advance payments provided by AUOSP related to such polysilicon are then made by the Company to the third-party supplier. These advance payments are applied as a credit against AUOSP’s polysilicon purchases from the Company. Such polysilicon is used by AUOSP to manufacture solar cells which are sold to the Company on a "cost-plus" basis. As of December 29, 2013 and December 30, 2012, outstanding advance payments received from AUOSP totaled $181.3 million and $190.1 million, respectively, of which $14.0 million and $8.8 million, respectively, is classified as short-term in the Company's Consolidated Balance Sheets, based on projected product shipment dates. | ||||||||||||||||||||||||
In fiscal 2007, the Company entered into an agreement with a supplier under which the Company resold polysilicon procured from different third-party suppliers. Such polysilicon was used by the supplier to manufacture ingots and wafers, which could be sold to the Company or other customers. Under this agreement, the Company received advance payments which were applied as a credit against the supplier's polysilicon purchases from the Company. During the third quarter of fiscal 2013, the Company and the supplier agreed to terminate the agreement resulting in the supplier's forfeiture of the then-outstanding advance payments held by the Company. As a result, the Company recorded a $52.0 million gain within "Cost of revenue" on the Consolidated Statement of Operations to reflect the forfeiture of such advance payments. Additionally, pursuant to the termination of the above agreement, the Company received a 3% equity interest in the supplier that is accounted for under the cost method of accounting. | ||||||||||||||||||||||||
As of December 30, 2012, outstanding advance payments received by the Company under this agreement totaled $56.1 million, of which $8.1 million is classified as short-term in the Company's Consolidated Balance Sheets. As of December 30, 2012, these outstanding advances were fully collateralized by letters of credit totaling $32.0 million; accounts receivable of $7.6 million; and manufacturing equipment with a net book value of $16.5 million. Subsequent to the termination of the above agreement, there were no outstanding advance payments or collateralized assets. | ||||||||||||||||||||||||
Product Warranties | ||||||||||||||||||||||||
The following table summarizes accrued warranty activity for fiscal 2013, 2012, and 2011, respectively: | ||||||||||||||||||||||||
Fiscal Year | ||||||||||||||||||||||||
(In thousands) | 2013 | 2012 | 2011 | |||||||||||||||||||||
Balance at the beginning of the period | $ | 117,172 | $ | 94,323 | $ | 63,562 | ||||||||||||||||||
Accruals for warranties issued during the period | 40,259 | 29,833 | 37,927 | |||||||||||||||||||||
Settlements made during the period | (8,059 | ) | (6,984 | ) | (7,166 | ) | ||||||||||||||||||
Balance at the end of the period | $ | 149,372 | $ | 117,172 | $ | 94,323 | ||||||||||||||||||
Contingent Obligations | ||||||||||||||||||||||||
Projects often require the Company to undertake obligations including: (i) system output performance guarantees; (ii) system maintenance; (iii) penalty payments or customer termination rights if the system the Company is constructing is not commissioned within specified timeframes or other milestones are not achieved; and (iv) system put-rights whereby the Company could be required to buy-back a customer's system at fair value on specified future dates if certain minimum performance thresholds are not met for periods of up to two years. Historically the systems have performed significantly above the performance guarantee thresholds, and there have been no cases in which the Company had to buy back a system. | ||||||||||||||||||||||||
Future Financing Commitments | ||||||||||||||||||||||||
The Company is required to provide certain funding under the joint venture agreement with AU Optronics Singapore Pte. Ltd. ("AUO") and another unconsolidated investee, subject to certain conditions (see Note 9). As of December 29, 2013, the Company has future financing obligations through fiscal 2014 totaling $243.9 million. | ||||||||||||||||||||||||
Liabilities Associated with Uncertain Tax Positions | ||||||||||||||||||||||||
Total liabilities associated with uncertain tax positions were $28.9 million and $35.0 million as of December 29, 2013 and December 30, 2012, respectively, and are included in "Other long-term liabilities" in the Company's Consolidated Balance Sheets as they are not expected to be paid within the next twelve months. Due to the complexity and uncertainty associated with its tax positions, the Company cannot make a reasonably reliable estimate of the period in which cash settlement, if any, would be made for its liabilities associated with uncertain tax positions in other long-term liabilities. | ||||||||||||||||||||||||
Indemnifications | ||||||||||||||||||||||||
The Company is a party to a variety of agreements under which it may be obligated to indemnify the other party with respect to certain matters. Typically, these obligations arise in connection with contracts and license agreements or the sale of assets, under which the Company customarily agrees to hold the other party harmless against losses arising from a breach of warranties, representations and covenants related to such matters as title to assets sold, negligent acts, damage to property, validity of certain intellectual property rights, non-infringement of third-party rights, and certain tax related matters including indemnification to customers under §48(c) solar commercial investment tax credit and Treasury Grant payments under Section 1603 of the American Recovery and Reinvestment Act. In each of these circumstances, payment by the Company is typically subject to the other party making a claim to the Company under the procedures specified in the particular contract. These procedures usually allow the Company to challenge the other party's claims or, in case of breach of intellectual property representations or covenants, to control the defense or settlement of any third party claims brought against the other party. Further, the Company's obligations under these agreements may be limited in terms of activity (typically to replace or correct the products or terminate the agreement with a refund to the other party), duration and/or amounts. In some instances, the Company may have recourse against third parties and/or insurance covering certain payments made by the Company. | ||||||||||||||||||||||||
In certain limited circumstances the Company has provided indemnification to customers and investors under which the Company is contractually obligated to compensate these parties for losses they may suffer as a result of reductions in benefits received under §48(c) solar commercial investment tax credit (“ITC”) and Treasury Grant payments under Section 1603 of the American Recovery and Reinvestment Act (“Cash Grant”). The Company applies for ITC and Cash Grant incentives based on guidance provided by IRS and the Treasury Department, which include assumptions regarding the fair value of the qualified solar power systems, among others. Certain of the Company’s development agreements, sales-leaseback arrangements, and financing arrangements with investors of its residential lease program, incorporate assumptions regarding the future level of incentives to be received, which in some instances may be claimed directly by its customers and investors. Since the Company cannot determine future revisions to the U.S. Treasury guidelines governing system values or how the IRS will evaluate system values used in claiming ITCs, the Company is unable to reliably estimate the maximum potential future payments that it could have to make under the Company’s contractual investor obligation as of each reporting date. In February 2014, the Company received a $75 million indemnification request from a customer relating to a Cash Grant award which was approved by the Treasury Department for an amount less than originally expected. The Company believes the request to be meritless and intends to deny the claim. The Company has further concluded that any payments under indemnification agreements in excess of the amounts already recorded by the Company are not probable as of the reporting date. | ||||||||||||||||||||||||
Legal Matters | ||||||||||||||||||||||||
Derivative actions purporting to be brought on the Company's behalf have been filed in state and federal courts against several of the Company's current and former officers and directors. The actions arise from the Audit Committee's investigation announcement on November 16, 2009 regarding certain unsubstantiated accounting entries. The California state derivative cases were consolidated as In re SunPower Corp. S'holder Derivative Litig., Lead Case No. 1-09-CV-158522 (Santa Clara Sup. Ct.), and co-lead counsel for plaintiffs have been appointed. The complaints assert state-law claims for breach of fiduciary duty, abuse of control, unjust enrichment, gross mismanagement, and waste of corporate assets. Plaintiffs filed a consolidated amended complaint on March 5, 2012. The federal derivative complaints were consolidated as In re SunPower Corp. S'holder Derivative Litig., Master File No. CV-09-05731-RS (N.D. Cal.), and lead plaintiffs and co-lead counsel were appointed on January 4, 2010. The federal complaints assert state-law claims for breach of fiduciary duty, waste of corporate assets, and unjust enrichment, and seek an unspecified amount of damages. Plaintiffs filed a consolidated complaint on May 13, 2011. A Delaware state derivative case, Brenner v. Albrecht, et al., C.A. No. 6514-VCP (Del Ch.), was filed on May 23, 2011 in the Delaware Court of Chancery. The complaint asserts state-law claims for breach of fiduciary duty and contribution and indemnification, and seeks an unspecified amount of damages. On June 29, 2013, the parties to each of the derivative actions entered into an agreement in principle to settle all the derivative actions, and on December 19, 2013, the parties executed a stipulated settlement agreement, providing that the Company institute certain specified corporate governance measures, which were implemented by the Board of Directors on October 22, 2013 in connection with periodic review and update of corporate governance matters, that all claims against all defendants will be released and dismissed with prejudice, and that the Company will not oppose a request by the plaintiffs' counsel for an award of attorneys' fees up to $1 million, one half of which will be paid from the proceeds of directors and officers liability insurance. On January 24, 2014, the parties filed a motion with the court in the consolidated California state derivative cases to approve the stipulated settlement. | ||||||||||||||||||||||||
The Company is also a party to various other litigation matters and claims that arise from time to time in the ordinary course of its business. While the Company believes that the ultimate outcome of such matters will not have a material adverse effect on the Company, their outcomes are not determinable and negative outcomes may adversely affect the Company's financial position, liquidity or results of operations. |
Equity_Method_Investments
Equity Method Investments | 12 Months Ended |
Dec. 29, 2013 | |
Equity Method Investments and Joint Ventures [Abstract] | ' |
Equity Method Investments and Joint Ventures Disclosure [Text Block] | ' |
EQUITY METHOD INVESTMENTS | |
As of December 29, 2013 and December 30, 2012, the Company's carrying value of its equity method investments totaled $131.7 million and $111.5 million, respectively, and is classified as “Other long-term assets” in its Consolidated Balance Sheets. The Company's share of its earnings (loss) from equity method investments is reflected as "Equity in earnings (loss) of unconsolidated investees" in its Consolidated Statement of Operations. | |
Equity Investment in Huaxia CPV (Inner Mongolia) Power Co., Ltd. ("CCPV") | |
In December 2012, the Company entered into an agreement with Tianjin Zhonghuan Semiconductor Co. Ltd., Inner Mongolia Power Group Co. Ltd. and Hohhot Jinqiao City Development Company Co., Ltd. to form CCPV, a jointly owned entity to manufacture and deploy the Company's C-7 Tracker concentrator technology in Inner Mongolia and other regions in China. CCPV is based in Hohhot, Inner Mongolia. The establishment of the entity was subject to approval of the Chinese government, which was received in the fourth quarter of fiscal 2013. In December 2013, the Company made a $16.4 million equity investment in CCPV, for a 25% equity ownership. | |
The Company has concluded that it is not the primary beneficiary of CCPV since, although the Company is obligated to absorb losses and has the right to receive benefits, the Company alone does not have the power to direct the activities of CCPV that most significantly impact its economic performance. The Company accounts for its investment in CCPV using the equity method since the Company is able to exercise significant influence over CCPV due to its board position. | |
Equity Investment in Diamond Energy Pty Ltd. ("Diamond Energy") | |
In October 2012, the Company made a $3.0 million equity investment in Diamond Energy, an alternative energy project developer and clean electricity retailer headquartered in Melbourne, Australia, in exchange for a 25% equity ownership. The Company additionally provided Diamond Energy AUD 2.0 million (or $1.8 million based on the exchange rate as of December 29, 2013) under a five-year convertible note agreement and will receive interest of 1% per annum on the amounts lent to Diamond Energy, to be paid upon conversion or maturity. | |
The Company has concluded that it is not the primary beneficiary of Diamond Energy since, although the Company is obligated to absorb losses and has the right to receive benefits, the Company alone does not have the power to direct the activities of Diamond that most significantly impact its economic performance. The Company accounts for its investment in Diamond using the equity method since the Company is able to exercise significant influence over Diamond due to its board position. | |
Equity Investment and Joint Venture with AUOSP | |
In fiscal 2010, the Company, AUO and AU Optronics Corporation, the ultimate parent company of AUO ("AUO Taiwan"), formed the joint venture AUOSP. The Company and AUO each own 50% of the joint venture AUOSP. AUOSP owns a solar cell manufacturing facility in Malaysia and manufactures solar cells and sells them on a "cost-plus" basis to the Company and AUO. | |
In connection with the joint venture agreement, the Company and AUO also entered into licensing and joint development, supply, and other ancillary transaction agreements. Through the licensing agreement, the Company and AUO licensed to AUOSP, on a non-exclusive, royalty-free basis, certain background intellectual property related to solar cell manufacturing (in the case of the Company), and manufacturing processes (in the case of AUO). Under the seven-year supply agreement with AUOSP, renewable by the Company for one-year periods thereafter, the Company is committed to purchase 80% of AUOSP's total annual output allocated on a monthly basis to the Company. The Company and AUO have the right to reallocate supplies from time to time under a written agreement. In fiscal 2010, the Company and AUOSP entered into an agreement under which the Company will resell to AUOSP polysilicon purchased from a third-party supplier and AUOSP will provide prepayments to the Company related to such polysilicon, which prepayment will then be made by the Company to the third-party supplier. | |
The Company and AUO are not permitted to transfer any of AUOSP's shares held by them, except to each other. In the joint venture agreement, the Company and AUO agreed to each contribute additional amounts through 2014 amounting to $241.0 million, or such lesser amount as the parties may mutually agree. In addition, if AUOSP, the Company or AUO requests additional equity financing to AUOSP, then the Company and AUO will each be required to make additional cash contributions of up to $50.0 million in the aggregate. | |
The Company has concluded that it is not the primary beneficiary of AUOSP since, although the Company and AUO are both obligated to absorb losses or have the right to receive benefits, the Company alone does not have the power to direct the activities of AUOSP that most significantly impact its economic performance. In making this determination the Company considered the shared power arrangement, including equal board governance for significant decisions, elective appointment, and the fact that both parties contribute to the activities that most significantly impact the joint venture's economic performance. The Company accounts for its investment in AUOSP using the equity method as a result of the shared power arrangement. As of December 29, 2013, the Company's maximum exposure to loss as a result of its involvement with AUOSP is limited to the carrying value of its investment. | |
Equity Investment in Woongjin Energy Co., Ltd ("Woongjin Energy") | |
In fiscal 2006, the Company and Woongjin Holdings Co., Ltd. ("Woongjin") formed Woongjin Energy, a jointly owned entity to manufacture monocrystalline silicon ingots in Korea. The Company may supply polysilicon, services, and technical support required for silicon ingot manufacturing to Woongjin Energy. Once manufactured, the Company may purchase the silicon ingots from Woongjin Energy under a nine-year agreement through 2016. There is no obligation or expectation for the Company to provide additional funding to Woongjin Energy. | |
During fiscal 2011, the Company sold 15.5 million shares of Woongjin Energy on the open market, reducing the Company's percentage equity ownership in Woongjin Energy from 31% to 6%. During the first quarter of fiscal 2012, the Company sold its remaining shares of Woongjin Energy on the open market for total proceeds which equaled the remaining investment carrying balance. As a result, the Company's percentage equity ownership and investment carrying balance was reduced to zero. | |
The Company accounted for its former investment in Woongjin Energy using the equity method as the Company was able to exercise significant influence over Woongjin Energy due to its board position and its consumption of a significant portion of their output. |
Debt_and_Credit_Sources
Debt and Credit Sources | 12 Months Ended | ||||||||||||||||||||||||||||||||
Dec. 29, 2013 | |||||||||||||||||||||||||||||||||
Debt Disclosure [Abstract] | ' | ||||||||||||||||||||||||||||||||
Debt Disclosure [Text Block] | ' | ||||||||||||||||||||||||||||||||
DEBT AND CREDIT SOURCES | |||||||||||||||||||||||||||||||||
The following table summarizes the Company's outstanding debt on its Consolidated Balance Sheets: | |||||||||||||||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||||||||||||||
(In thousands) | Face Value | Short-term | Long-term | Total | Face Value | Short-term | Long-term | Total | |||||||||||||||||||||||||
Convertible debt: | |||||||||||||||||||||||||||||||||
0.75% debentures due 2018 | $ | 300,000 | $ | — | $ | 300,000 | $ | 300,000 | $ | — | $ | — | $ | — | $ | — | |||||||||||||||||
4.50% debentures due 20151 | 250,000 | 225,889 | — | 225,889 | 250,000 | — | 208,550 | 208,550 | |||||||||||||||||||||||||
4.75% debentures due 2014 | 230,000 | 230,000 | — | 230,000 | 230,000 | — | 230,000 | 230,000 | |||||||||||||||||||||||||
0.75% debentures due 2015 | 79 | — | 79 | 79 | 79 | — | 79 | 79 | |||||||||||||||||||||||||
IFC mortgage loan | 62,500 | 15,000 | 47,500 | 62,500 | 75,000 | 12,500 | 62,500 | 75,000 | |||||||||||||||||||||||||
CEDA loan | 30,000 | — | 30,000 | 30,000 | 30,000 | — | 30,000 | 30,000 | |||||||||||||||||||||||||
Credit Agricole revolving credit facility | — | — | — | — | 275,000 | — | 275,000 | 275,000 | |||||||||||||||||||||||||
Other debt2 | 50,926 | 41,227 | 9,699 | 50,926 | 1,368 | 134 | 1,234 | 1,368 | |||||||||||||||||||||||||
$ | 923,505 | $ | 512,116 | $ | 387,278 | $ | 899,394 | $ | 861,447 | $ | 12,634 | $ | 807,363 | $ | 819,997 | ||||||||||||||||||
1 | As of December 29, 2013, the 4.50% debentures due 2015 were classified as short-term debt on the Company's Consolidated Balance Sheets as the conversion right was met during the fourth quarter of fiscal 2013. | ||||||||||||||||||||||||||||||||
2 | The balance of Other debt excludes payments related to capital leases which are disclosed in Note 8. "Commitments and Contingencies" to these consolidated financial statements. | ||||||||||||||||||||||||||||||||
As of December 29, 2013 the aggregate future contractual maturities of the Company's outstanding debt, at face value, was as follows: | |||||||||||||||||||||||||||||||||
(In thousands) | 2014 | 2015 | 2016 | 2017 | 2018 | Thereafter | Total | ||||||||||||||||||||||||||
Aggregate future maturities of outstanding debt | $ | 286,227 | 265,583 | 15,568 | 15,550 | 303,077 | 37,500 | $ | 923,505 | ||||||||||||||||||||||||
Convertible Debt | |||||||||||||||||||||||||||||||||
The following table summarizes the Company's outstanding convertible debt: | |||||||||||||||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||||||||||||||
(In thousands) | Carrying Value | Face Value | Fair Value3 | Carrying Value | Face Value | Fair Value3 | |||||||||||||||||||||||||||
Convertible debt: | |||||||||||||||||||||||||||||||||
0.75% debentures due 2018 | $ | 300,000 | $ | 300,000 | $ | 367,578 | $ | — | $ | — | $ | — | |||||||||||||||||||||
4.50% debentures due 20154 | 225,889 | 250,000 | 343,895 | 208,550 | 250,000 | 228,750 | |||||||||||||||||||||||||||
4.75% debentures due 2014 | 230,000 | 230,000 | 269,252 | 230,000 | 230,000 | 218,960 | |||||||||||||||||||||||||||
0.75% debentures due 2015 | 79 | 79 | 102 | 79 | 79 | 79 | |||||||||||||||||||||||||||
$ | 755,968 | $ | 780,079 | $ | 980,827 | $ | 438,629 | $ | 480,079 | $ | 447,789 | ||||||||||||||||||||||
3 | The fair value of the convertible debt was determined using Level 1 inputs based on quarterly market prices as reported by an independent pricing source. | ||||||||||||||||||||||||||||||||
4 | As of December 29, 2013, the 4.50% debentures due 2015 were classified as short-term debt on the Company's Consolidated Balance Sheets as the conversion right was met during the fourth quarter of fiscal 2013. | ||||||||||||||||||||||||||||||||
The Company's outstanding convertible debentures are senior, unsecured obligations of the Company, ranking equally with all existing and future senior unsecured indebtedness of the Company. | |||||||||||||||||||||||||||||||||
0.75% Debentures Due 2018 | |||||||||||||||||||||||||||||||||
On May 29, 2013, the Company issued $300.0 million in principal amount of its 0.75% debentures due 2018. Interest on the 0.75% debentures due 2018 is payable on June 1 and December 1 of each year, beginning on December 1, 2013. Holders are able to exercise their right to convert the debentures at any time into shares of the Company's common stock at an initial conversion price approximately equal to $24.95 per share. The applicable conversion rate may be subject to adjustment in certain circumstances. The maximum number of shares of the Company's common stock that may be issued through the conversion is 15,633,957, subject to anti-dilution and certain other adjustments. If not earlier converted, the 0.75% debentures due 2018 mature on June 1, 2018. If the Company undergoes a fundamental change, as described in the indenture governing the 0.75% debentures due 2018, holders may require the Company to repurchase all or a portion of their 0.75% debentures due 2018 at a cash repurchase price equal to 100% of the principal amount plus accrued and unpaid interest. If the Company undergoes a non-stock change of control fundamental change, as described in the governing indenture, the 0.75% debentures due 2018 will be subject to redemption at the Company's option, in whole but not in part, for a period of 30 calendar days following a repurchase date relating to the non-stock change of control fundamental change, at a cash redemption price equal to 100% of the principal amount plus accrued and unpaid interest. In the event of certain events of default, Wells Fargo, the trustee, or the holders of a specified amount of then-outstanding 0.75% debentures due 2018 will have the right to declare all amounts then outstanding due and payable. | |||||||||||||||||||||||||||||||||
4.50% Debentures due 2015 | |||||||||||||||||||||||||||||||||
In fiscal 2010, the Company issued $250.0 million in principal amount of its 4.50% senior cash convertible debentures ("4.50% debentures due 2015"). Interest is payable semi-annually, on March 15 and September 15 of each year, at a rate of 4.50% per annum which commenced on September 15, 2010. The 4.50% debentures due 2015 mature on March 15, 2015 unless repurchased or converted in accordance with their terms prior to such date. | |||||||||||||||||||||||||||||||||
The 4.50% debentures due 2015 are convertible only into cash, and not into shares of the Company's common stock (or any other securities). Prior to December 15, 2014, if the weighted average price of the Company's common stock is more than 130% of the then current conversion price for at least 20 out of 30 consecutive trade days ending on the last trading day of the fiscal quarter, then holders of the 4.50% debentures due 2015 have the right to convert the debentures any day in the following fiscal quarter and, thereafter, they will be convertible at any time in the succeeding fiscal quarter, based on an initial conversion price of $22.53 per share of the Company's common stock. The conversion price will be subject to adjustment in certain events, such as distributions of dividends or stock splits. Upon conversion, the Company will deliver an amount of cash calculated by reference to the price of its common stock over the applicable observation period. The Company may not redeem the 4.50% debentures due 2015 prior to maturity. Holders may also require the Company to repurchase all or a portion of their 4.50% debentures due 2015 upon a fundamental change, as defined in the debenture agreement, at a cash repurchase price equal to 100% of the principal amount plus accrued and unpaid interest. In the event of certain events of default, such as the Company's failure to make certain payments or perform or observe certain obligations thereunder, Wells Fargo, the trustee, or holders of a specified amount of then-outstanding 4.50% debentures will have the right to declare all amounts then outstanding due and payable. | |||||||||||||||||||||||||||||||||
The embedded cash conversion option within the 4.50% debentures due 2015 is a derivative instrument that is required to be separated from the 4.50% debentures due 2015 and accounted for separately as a derivative instrument (derivative liability) with changes in fair value reported in the Company's Consolidated Statements of Operations until such transaction settles or expires. The initial fair value liability of the embedded cash conversion option was classified within "Other long-term liabilities" and simultaneously reduced the carrying value of "Convertible debt, net of current portion" in the Company's Consolidated Balance Sheets. | |||||||||||||||||||||||||||||||||
During fiscal 2013 the Company recognized a non-cash loss of $108.2 million recorded in "Other, net" in the Company's Consolidated Statement of Operations related to the change in fair value of the embedded cash conversion option. In fiscal 2012 and 2011, the Company recognized a non-cash gain of $1.6 million, and $34.0 million, respectively, recorded in "Other, net" in the Company's Consolidated Statement of Operations related to the change in fair value of the embedded cash conversion option. | |||||||||||||||||||||||||||||||||
In fiscal 2013, 2012 and 2011, the Company recognized $17.3 million, $15.2 million and $13.4 million of non-cash interest expense, respectively, related to the amortization of the debt discount on the 4.50% debentures. As of December 29, 2013, the remaining unamortized debt discount of $24.1 million will be recognized through March 15, 2015. | |||||||||||||||||||||||||||||||||
Call Spread Overlay with Respect to 4.50% Debentures | |||||||||||||||||||||||||||||||||
Concurrent with the issuance of the 4.50% debentures due 2015, the Company entered into privately negotiated convertible debenture hedge transactions (collectively, the "4.50% Bond Hedge") and warrant transactions (collectively, the "4.50% Warrants" and together with the 4.50% Bond Hedge, the “CSO2015”), with certain of the initial purchasers of the 4.50% cash convertible debentures or their affiliates. The CSO2015 transactions represent a call spread overlay with respect to the 4.50% debentures due 2015, whereby the cost of the 4.50% Bond Hedge purchased by the Company to cover the cash outlay upon conversion of the debentures is reduced by the sales prices of the 4.50% Warrants. Assuming full performance by the counterparties (and 4.50% Warrants strike prices in excess of the conversion price of the 4.50% debentures due 2015), the transactions effectively reduce the Company's potential payout over the principal amount on the 4.50% debentures due 2015 upon conversion of the 4.50% debentures due 2015. | |||||||||||||||||||||||||||||||||
Under the terms of the 4.50% Bond Hedge, the Company bought from affiliates of certain of the initial purchasers options to acquire, at an exercise price of $22.53 per share, subject to customary adjustments for anti-dilution and other events, cash in an amount equal to the market value of up to 11.1 million shares of the Company's common stock. Under the terms of the 4.50% Warrants the Company sold to affiliates of certain of the initial purchasers of the 4.50% cash convertible debentures warrants to acquire, at an exercise price of $24.00 per share, up to 11.1 million shares of the Company's common stock. Each 4.50% Bond Hedge and 4.50% Warrant transaction is a separate transaction, entered into by the Company with each counterparty, and is not part of the terms of the 4.50% debentures due 2015. | |||||||||||||||||||||||||||||||||
The 4.50% Bond Hedge, which is indexed to the Company's common stock, is a derivative instrument that requires mark-to-market accounting treatment due to the cash settlement features until such transactions settle or expire. The initial fair value of the 4.50% Bond Hedge was classified as "Other long-term assets" in the Company's Consolidated Balance Sheets. | |||||||||||||||||||||||||||||||||
During fiscal 2013, the Company recognized a non-cash gain of $108.1 million in "Other, net" in the Company's Consolidated Statement of Operations related to the change in fair value of the 4.50% Bond Hedge. During fiscal 2012 and 2011, the Company recognized a non-cash loss of $1.6 million and $34.0 million, respectively, in "Other, net" in the Company's Consolidated Statement of Operations related to the change in fair value of the 4.50% Bond Hedge. | |||||||||||||||||||||||||||||||||
4.75% Debentures | |||||||||||||||||||||||||||||||||
In May 2009, the Company issued $230.0 million in principal amount of its 4.75% senior convertible debentures ("4.75% debentures due 2014"). Interest on the 4.75% debentures due 2014 is payable on April 15 and October 15 of each year. Holders of the 4.75% debentures due 2014 are able to exercise their right to convert the debentures at any time into shares of the Company's common stock at a conversion price equal to $26.40 per share. The applicable conversion rate may adjust in certain circumstances, including upon a non-stock fundamental change, as described in the indenture governing the 4.75% debentures. If not earlier converted, the 4.75% debentures due 2014 mature on April 15, 2014. Holders may also require the Company to repurchase all or a portion of their 4.75% debentures due 2014 upon a fundamental change at a cash repurchase price equal to 100% of the principal amount plus accrued and unpaid interest. In the event of certain events of default, such as the Company's failure to make certain payments or perform or observe certain obligations thereunder, Wells Fargo, the trustee, or holders of a specified amount of then-outstanding 4.75% debentures due 2014 will have the right to declare all amounts then outstanding due and payable. | |||||||||||||||||||||||||||||||||
Call Spread Overlay with Respect to the 4.75% Debentures | |||||||||||||||||||||||||||||||||
Concurrently with the issuance of the 4.75% debentures due 2014, the Company entered into certain convertible debenture hedge transactions (the "4.75% Bond Hedge") and warrant transactions (the "4.75% Warrants") with affiliates of certain of the underwriters of the 4.75% debentures (together, the "CSO2014"), whereby the cost of the 4.75% Bond Hedges purchased by the Company to cover the potential share outlays upon conversion of the debentures is reduced by the sales prices of the 4.75% Warrants. The CSO2014 are not subject to mark-to-market accounting treatment since they may only be settled by issuance of the Company's common stock. | |||||||||||||||||||||||||||||||||
The 4.75% Bond Hedge allows the Company to purchase up to 8.7 million shares of the Company's common stock. The 4.75% Bond Hedge will be settled on a net share basis. Each 4.75% Bond Hedge and 4.75% Warrant is a separate transaction, entered into by the Company with each counterparty, and is not part of the terms of the 4.75% debentures. Holders of the 4.75% debentures due 2014 do not have any rights with respect to the 4.75% Bond Hedges and 4.75% Warrants. The exercise prices of the 4.75% Bond Hedge are $26.40 per share of the Company's common stock, subject to customary adjustment for anti-dilution and other events. | |||||||||||||||||||||||||||||||||
Under the amended 4.75% Warrants, the Company sold warrants to acquire up to 8.7 million shares of the Company's common stock at an exercise price of $26.40 per share of the Company's common stock, subject to adjustment for certain anti-dilution and other events. The 4.75% Warrants expire in 2014. | |||||||||||||||||||||||||||||||||
1.25% Debentures | |||||||||||||||||||||||||||||||||
In fiscal 2007, the Company issued $200.0 million in principal amount of its 1.25% senior convertible debentures and received net proceeds of $194.0 million. On February 16, 2012, based upon the exercise of the holders' put rights, the Company repurchased the outstanding 1.25% debentures at a cash price of $199.8 million, representing 100% of the principal amount plus accrued and unpaid interest. None of the 1.25% debentures remained issued and outstanding after the repurchase. | |||||||||||||||||||||||||||||||||
July 2007 Share Lending Arrangement | |||||||||||||||||||||||||||||||||
Concurrent with the offering of the Company's 0.75% debentures due 2015, the Company lent 1.8 million shares of its former class A common stock to Credit Suisse International ("CSI"), an affiliate of Credit Suisse Securities (USA) LLC ("Credit Suisse"), one of the underwriters of the 0.75% debentures due 2015. The loaned shares were to be used to facilitate the establishment by investors in the 1.25% debentures due 2012 and the 0.75% debentures due 2015 of hedged positions in the Company's common stock. In connection with the Company's repurchase of 100% of the principal amount of the 1.25% debentures, on February 23, 2012, the 1.8 million shares of the Company's common stock lent to CSI were returned and the share lending agreement was thereby terminated. | |||||||||||||||||||||||||||||||||
Other Debt and Credit Sources | |||||||||||||||||||||||||||||||||
Mortgage Loan Agreement with IFC | |||||||||||||||||||||||||||||||||
On May 6, 2010, the Company entered into a mortgage loan agreement with IFC. Under the loan agreement, the Company may borrow up to $75.0 million during the first two years, and shall repay the amount borrowed, starting 2 years after the date of borrowing, in 10 equal semiannual installments over the following 5 years. On October 3, 2012, IFC granted a temporary waiver of a financial covenant for the fourth quarter of fiscal 2012 through the fourth quarter of fiscal 2013. Subsequent to the waiver, the Company was required to pay interest of LIBOR plus 3% per annum on outstanding borrowings through January 5, 2013; interest of LIBOR plus 4.25% per annum on outstanding borrowings from January 6, 2013 through September 30, 2013; interest of LIBOR plus 5% per annum on outstanding borrowings from October 1, 2013 through January 5, 2014; a front-end fee of 1% on the principal amount of borrowings at the time of borrowing; and a commitment fee of 0.5% per annum on funds available for borrowing and not borrowed. The Company did not utilize the waiver in the fourth quarter of fiscal 2013, and therefore, subsequent to January 5, 2014, the Company is required to pay interest of LIBOR plus 3% per annum on outstanding borrowings; a front-end fee of 1% on the principal amount of borrowings at the time of borrowing; and a commitment fee of 0.5% per annum on funds available for borrowing and not borrowed. The Company may prepay all or a part of the outstanding principal, subject to a 1% prepayment premium. The Company has pledged certain assets as collateral supporting its repayment obligations (see Note 4). Additionally, in accordance with the terms of the agreement, the Company is required to establish a debt service reserve account which shall contain the amount, as determined by IFC, equal to the aggregate principal and interest due on the next succeeding interest payment date after such date. As of December 29, 2013 and December 30, 2012, the Company had restricted cash and cash equivalents of $9.2 million and $6.4 million, respectively, related to the IFC debt service reserve. | |||||||||||||||||||||||||||||||||
Loan Agreement with California Enterprise Development Authority ("CEDA") | |||||||||||||||||||||||||||||||||
On December 29, 2010, the Company borrowed the proceeds of the $30.0 million aggregate principal amount of CEDA's tax-exempt Recovery Zone Facility Revenue Bonds (SunPower Corporation - Headquarters Project) Series 2010 (the "Bonds") maturing April 1, 2031 under a loan agreement with CEDA. The Company's obligations under the loan agreement are contained in a promissory note dated December 29, 2010 issued by the Company to CEDA, which assigned the promissory note, along with all right, title and interest in the loan agreement, to Wells Fargo, as trustee, with respect to the Bonds for the benefit of the holders of the Bonds. The Bonds bear interest at a fixed-rate bonds at 8.50% per annum (which include covenants of, and other restrictions on the Company). Additionally, in accordance with the terms of the loan agreement, the Company is required to keep all loan proceeds on deposit with Wells Fargo, the trustee, until funds are withdrawn by it for use in relation to the design and leasehold improvements of its new corporate headquarters in San Jose, California. As of both December 29, 2013 and December 30, 2012, the Company had restricted cash and cash equivalents of $3.0 million, for design and leasehold improvements and debt service reserves under the CEDA loan agreement. | |||||||||||||||||||||||||||||||||
July 2013 Revolving Credit Facility with Credit Agricole | |||||||||||||||||||||||||||||||||
On July 3, 2013, the Company entered into the July 2013 revolving credit facility with Credit Agricole, as administrative agent, and certain financial institutions, under which the Company may borrow up to $250.0 million until the earliest of: (i) July 3, 2016; (ii) December 31, 2014, if the Company has not repaid, exchanged or repurchased its outstanding 4.50% debentures due 2015 by September 30, 2014 and is not in compliance with certain liquidity requirements as of such date; and (iii) January 31, 2014, if the conditions precedent to the Restructuring (as defined below) have not been met or waived as of such date (the earliest of the above events, the "Maturity Date"). The July 2013 revolving credit facility allows the Company to request increases to the available capacity of the revolving credit facility to an aggregate of $300.0 million, subject to the satisfaction of certain conditions. The July 2013 revolving credit facility includes representations, covenants, and events of default customary for financing transactions of this type. On or about January 31, 2014 (the “Restructuring Date”), (i) the Company's obligations under the July 2013 revolving credit facility will become secured by a pledge of certain accounts receivable and inventory of the Company and certain of its subsidiaries, (ii) certain of the Company's subsidiaries will enter into guaranties of the July 2013 revolving credit facility, and (iii) Total S.A.'s guarantee of the Company's obligations under the July 2013 revolving credit facility will expire (collectively, the “Restructuring”). Amounts borrowed may be repaid and reborrowed until the Maturity Date. | |||||||||||||||||||||||||||||||||
Prior to the Restructuring Date, the Company is required to pay interest on outstanding borrowings under the July 2013 revolving credit facility and fees of (a) with respect to any LIBOR rate loan, 0.60% plus the LIBOR rate divided by a percentage equal to one minus the stated maximum rate of all reserves required to be maintained against "Eurocurrency liabilities" as specified in Regulation D; (b) with respect to any alternative base rate loan, 0.25% plus the greater of (1) the prime rate, (2) the Federal funds rate plus 0.50%, and (3) the one month LIBOR rate plus 1%; (c) a commitment fee of 0.06% per annum on funds available for borrowing and not borrowed; and (d) an upfront fee of 0.20% of the Revolving Loan Commitment. | |||||||||||||||||||||||||||||||||
Following the Restructuring Date, the Company will be required to pay interest on outstanding borrowings under the July 2013 revolving credit facility and fees of (a) with respect to any LIBOR rate loan, an amount ranging from 1.50% to 2.00% (depending on the Company's leverage ratio from time to time) plus the LIBOR rate divided by a percentage equal to one minus the stated maximum rate of all reserves required to be maintained against “Eurocurrency liabilities” as specified in Regulation D; (b) with respect to any alternate base rate loan, an amount ranging from 0.50% to 1.00% (depending on the Company's leverage ratio from time to time) plus the greater of (1) the prime rate, (2) the Federal Funds rate plus 0.50%, and (3) the one-month LIBOR rate plus 1%; and (c) a commitment fee ranging from 0.25% to 0.35% (depending on the Company's leverage ratio from time to time) per annum on funds available for borrowing and not borrowed. | |||||||||||||||||||||||||||||||||
The July 2013 revolving credit facility was entered into in conjunction with the delivery by Total S.A. of a guarantee of the Company's obligations under the related facility. The Company is required to pay Total S.A. an annual guarantee fee of 2.75% of the outstanding amount under the July 2013 revolving credit facility. The issuance of the guarantee, together with the termination of the similar $275.0 million guaranty of the September 2011 revolving credit facility, as described below, increased the capacity available under the Liquidity Support Facility by $25.0 million. | |||||||||||||||||||||||||||||||||
As of December 29, 2013, the Company had no outstanding borrowing under the July 2013 revolving credit facility. | |||||||||||||||||||||||||||||||||
September 2011 Revolving Credit Facility with Credit Agricole | |||||||||||||||||||||||||||||||||
On September 27, 2011, the Company entered into the September 2011 revolving credit facility with Credit Agricole, as administrative agent, and certain financial institutions, under which the Company was able to borrow up to $275.0 million until September 27, 2013. Amounts borrowed were to be repaid and reborrowed until September 27, 2013. | |||||||||||||||||||||||||||||||||
On December 24, 2012, the Company amended the facility to reflect Total S.A.'s guarantee of its obligations under the facility. The facility amendment extended the maturity date to January 31, 2014, reduced interest rates payable and removed certain financial and restrictive covenants. Subsequent to the amendment, the Company was required to pay interest on outstanding borrowings of (a) with respect to any LIBOR loan, 0.6% plus the LIBOR divided by a percentage equal to one minus the stated maximum rate of all reserves required to be maintained against "Eurocurrency liabilities" as specified in Regulation D; and (b) with respect to any alternative base loan, 0.25% plus the greater of (1) the prime rate, (2) the Federal Funds rate plus 0.5%, and (3) the one month LIBOR plus 1%; and a commitment fee equal to 0.06% per annum on funds available for borrowing and not borrowed. | |||||||||||||||||||||||||||||||||
On July 3, 2013, the Company terminated its September 2011 revolving credit facility after establishing the July 2013 revolving credit facility, as described above. There were no outstanding borrowings under the September 2011 revolving credit facility upon termination. | |||||||||||||||||||||||||||||||||
Liquidity Support Agreement with Total S.A. | |||||||||||||||||||||||||||||||||
On February 28, 2012, the Company entered into a Liquidity Support Agreement with Total S.A. and the DOE, and a series of related agreements with Total S.A. and Total, under which Total S.A. has agreed to provide the Company, or cause to be provided, additional liquidity under certain circumstances (see Note 2). As of December 29, 2013, $350.0 million remained available to the Company under the facility. | |||||||||||||||||||||||||||||||||
Other Debt | |||||||||||||||||||||||||||||||||
In order to facilitate the construction and sale of certain solar projects, the Company obtains non-recourse project loans which in certain cases permit customers to assume the loans at the time of sale. These loans are contemplated as part of the structure of the sales transaction and not guaranteed or otherwise supported by SunPower. During fiscal year 2013, the Company entered into two project loans with a consortium of lenders to facilitate the development of two 10 MW utility and power plant projects under construction in Israel. During the fourth quarter of fiscal 2013, the Company sold one of the Israeli projects. The related loan, amounting to ILS 123.1 million (approximately $34.8 million based on the exchange rate at the time of sale), and accrued and unpaid interest was assumed by the customer. In instances where the debt is issued as a form of pre-established customer financing, subsequent debt assumption is reflected as a financing outflow and operating inflow for purposes of the statement of cash flows to reflect the substance of the assumption as a facilitation of customer financing from a third-party. As of December 29, 2013, the Company had outstanding project loan drawn downs of ILS 141.8 million (or approximately $40.7 million based on the exchange rate as of December 29, 2013). | |||||||||||||||||||||||||||||||||
During the second quarter of fiscal 2013, the Company entered into a long-term non-recourse loan agreement with a third-party financial institution to finance a 5.4 MW utility and power plant operating in Arizona. The outstanding balance of the loan as of December 29, 2013 was $9.0 million. | |||||||||||||||||||||||||||||||||
Other debt is further comprised of non-recourse project loans in EMEA which are scheduled to mature through 2028. | |||||||||||||||||||||||||||||||||
August 2011 Letter of Credit Facility with Deutsche Bank | |||||||||||||||||||||||||||||||||
On August 9, 2011, the Company entered into a letter of credit facility agreement with Deutsche Bank, as issuing bank and as administrative agent, and certain financial institutions. Payment of obligations under the letter of credit facility is guaranteed by Total S.A. pursuant to the Credit Support Agreement. The letter of credit facility provides for the issuance, upon request by the Company, of letters of credit by the issuing banks thereunder in order to support certain obligations of the Company, in an aggregate amount not to exceed (a) $725.0 million until December 31, 2012; and (b) $771.0 million for the period from January 1, 2013 through December 31, 2013. Aggregate letter of credit amounts may be increased upon the agreement of the parties but, otherwise, may not exceed (i) $878.0 million for the period from January 1, 2014 through December 31, 2014; (ii) $936.0 million for the period from January 1, 2015 through December 31, 2015; and (iii) $1.0 billion for the period from January 1, 2016 through June 28, 2016. Each letter of credit issued under the letter of credit facility must have an expiration date no later than the second anniversary of the issuance of that letter of credit, provided that up to 15% of the outstanding value of the letters of credit may have an expiration date of between two and three years from the date of issuance. | |||||||||||||||||||||||||||||||||
As of December 29, 2013 and December 30, 2012, letters of credit issued under the August 2011 letter of credit facility with Deutsche Bank totaled $736.0 million and $725.3 million, respectively. | |||||||||||||||||||||||||||||||||
September 2011 Letter of Credit Facility with Deutsche Bank Trust | |||||||||||||||||||||||||||||||||
On September 27, 2011, the Company entered into a letter of credit facility with Deutsche Bank Trust which provides for the issuance, upon request by the Company, of letters of credit to support obligations of the Company in an aggregate amount not to exceed $200.0 million. Each letter of credit issued under the facility is fully cash-collateralized and the Company has entered into a security agreement with Deutsche Bank Trust, granting them a security interest in a cash collateral account established for this purpose. | |||||||||||||||||||||||||||||||||
As of December 29, 2013 and December 30, 2012, letters of credit issued under the Deutsche Bank Trust facility amounted to $2.4 million and $17.5 million, respectively, which were fully collateralized with restricted cash on the Consolidated Balance Sheets. |
Foreign_Currency_Derivatives
Foreign Currency Derivatives | 12 Months Ended | ||||||||||||
Dec. 29, 2013 | |||||||||||||
Derivative Instruments and Hedging Activities Disclosure [Abstract] | ' | ||||||||||||
Derivative Instruments and Hedging Activities Disclosure [Text Block] | ' | ||||||||||||
FOREIGN CURRENCY DERIVATIVES | |||||||||||||
The Company has non-U.S. subsidiaries that operate and sell the Company's products in various global markets, primarily in Europe. As a result, the Company is exposed to risks associated with changes in foreign currency exchange rates. It is the Company's policy to use various techniques, including entering into foreign currency derivative instruments, to manage the exposures associated with forecasted revenues, purchases of foreign sourced equipment and non-U.S. dollar denominated monetary assets and liabilities. The Company does not enter into foreign currency derivative financial instruments for speculative or trading purposes. | |||||||||||||
The Company is required to recognize derivative instruments as either assets or liabilities at fair value in its Balance Sheets. It is the Company's policy to present all derivative fair value amounts gross on its Consolidated Balance Sheets regardless of legal right of offset. The Company utilizes the income approach and mid-market pricing to calculate the fair value of its option and forward contracts based on market volatilities, spot and forward rates, interest rates, and credit default swaps rates from published sources. The following table presents information about the Company's hedge instruments measured at fair value on a recurring basis as of December 29, 2013 and December 30, 2012, all of which utilize Level 2 inputs under the fair value hierarchy: | |||||||||||||
(In thousands) | Balance Sheet Classification | 2013 | 2012 | ||||||||||
Assets | |||||||||||||
Derivatives designated as hedging instruments: | |||||||||||||
Foreign currency option contracts | Prepaid expenses and other current assets | $ | 615 | $ | 519 | ||||||||
Foreign currency forward exchange contracts | Prepaid expenses and other current assets | 35 | — | ||||||||||
Foreign currency option contracts | Other long-term assets | 588 | — | ||||||||||
$ | 1,238 | $ | 519 | ||||||||||
Derivatives not designated as hedging instruments: | |||||||||||||
Foreign currency option contracts | Prepaid expenses and other current assets | $ | 381 | $ | 25 | ||||||||
Foreign currency forward exchange contracts | Prepaid expenses and other current assets | 3,611 | 731 | ||||||||||
$ | 3,992 | $ | 756 | ||||||||||
Liabilities | |||||||||||||
Derivatives designated as hedging instruments: | |||||||||||||
Foreign currency option contracts | Accrued liabilities | $ | 1,595 | $ | 387 | ||||||||
Foreign currency forward exchange contracts | Accrued liabilities | — | 23 | ||||||||||
Foreign currency option contracts | Other long-term liabilities | 555 | — | ||||||||||
$ | 2,150 | $ | 410 | ||||||||||
Derivatives not designated as hedging instruments: | |||||||||||||
Foreign currency option contracts | Accrued liabilities | $ | 386 | $ | 26 | ||||||||
Foreign currency forward exchange contracts | Accrued liabilities | 4,189 | 4,455 | ||||||||||
$ | 4,575 | $ | 4,481 | ||||||||||
Valuations are based on quoted prices in markets that are not active or for which all significant inputs are observable, directly or indirectly. The selection of a particular technique to value an over-the-counter ("OTC") foreign currency derivative depends upon the contractual term of, and specific risks inherent with, the instrument as well as the availability of pricing information in the market. The Company generally uses similar techniques to value similar instruments. Valuation techniques utilize a variety of inputs, including contractual terms, market prices, yield curves, credit curves and measures of volatility. For OTC foreign currency derivatives that trade in liquid markets, such as generic forward and option contracts, inputs can generally be verified and selections do not involve significant management judgment. | |||||||||||||
The following table summarizes the pre-tax amount of unrealized gain or loss recognized in "Accumulated other comprehensive income" ("OCI") in "Stockholders' equity" in the Consolidated Balance Sheets: | |||||||||||||
Year ended | |||||||||||||
(In thousands) | 2013 | 2012 | 2011 | ||||||||||
Derivatives designated as cash flow hedges: | |||||||||||||
Gain (loss) in Accumulated OCI at the beginning of the period | $ | (243 | ) | $ | 10,473 | $ | 10,648 | ||||||
Unrealized gain (loss) recognized in OCI (effective portion) | (168 | ) | (1,720 | ) | (32,224 | ) | |||||||
Less: Loss (gain) reclassified from Accumulated OCI to revenue (effective portion) | (394 | ) | (8,996 | ) | 30,456 | ||||||||
Less: Loss reclassified from OCI to other, net | — | — | 1,593 | ||||||||||
Net loss on derivatives | $ | (562 | ) | $ | (10,716 | ) | $ | (175 | ) | ||||
Gain (loss) in Accumulated OCI at the end of the period | $ | (805 | ) | $ | (243 | ) | $ | 10,473 | |||||
The following table summarizes the amount of gain or loss recognized in "Other, net" in the Consolidated Statements of Operations in the years ended December 29, 2013, December 30, 2012, and January 1, 2012: | |||||||||||||
Year ended | |||||||||||||
(In thousands) | 2013 | 2012 | 2011 | ||||||||||
Derivatives designated as cash flow hedges: | |||||||||||||
Loss recognized in "Other, net" on derivatives (ineffective portion and amount excluded from effectiveness testing) | $ | (3,029 | ) | $ | (1,853 | ) | $ | (18,235 | ) | ||||
Derivatives not designated as hedging instruments: | |||||||||||||
Gain (loss) recognized in "Other, net" | $ | (4,615 | ) | $ | 3,126 | $ | (3,972 | ) | |||||
Foreign Currency Exchange Risk | |||||||||||||
Designated Derivatives Hedging Cash Flow Exposure | |||||||||||||
The Company's cash flow exposure primarily relates to anticipated third party foreign currency revenues and expenses. To protect financial performance, the Company enters into foreign currency forward and option contracts designated as cash flow hedges to hedge certain forecasted revenue transactions denominated in currencies other than their functional currencies. | |||||||||||||
As of December 29, 2013, the Company had designated outstanding cash flow hedge option contracts and forward contracts with an aggregate notional value of $105.9 million and $42.8 million, respectively. As of December 30, 2012, the Company had designated outstanding cash flow hedge option contracts and forward contracts with an aggregate notional value of $71.0 million and $26.4 million, respectively. The Company designates either gross external or intercompany revenue up to its net economic exposure. These derivatives have a maturity of 15 months or less and consist of foreign currency option and forward contracts. The effective portion of these cash flow hedges are reclassified into revenue when third-party revenue is recognized in the Consolidated Statements of Operations. | |||||||||||||
The Company expects to reclassify all of its net gains or losses related to these option and forward contracts that are included in accumulated other comprehensive loss as of December 29, 2013 to revenue in the next 12 months. The Company uses the spot to spot method to measure the effectiveness of its cash flow hedges. Under this method for each reporting period, the change in fair value of the forward contracts attributable to the changes in spot exchange rates (the effective portion) is reported in accumulated other comprehensive income (loss) on its consolidated balance sheet and the remaining change in fair value of the forward contract (the excluded and the ineffective portions, if any) is recognized in other income (expense), net, in its Consolidated Statement of Operations. The premium paid or time value of an option on the date of purchase is recorded as an asset in the Consolidated Balance Sheets. Thereafter, any change in value related to time value is included in "Other, net" in the Consolidated Statements of Operations. | |||||||||||||
Under cash flow hedge accounting rules for foreign currency derivatives, the Company reflects the effective gains and losses on its hedged transactions in accumulated other comprehensive income (loss) and will subsequently reclassify amounts into earnings when the hedged transactions occur. If the Company determines that the anticipated hedged transactions are probable not to occur, the corresponding amounts in OCI would be reclassified into its Consolidated Statement of Operations. During the year ended December 29, 2013, the Company determined that all its anticipated hedged transactions were probable to occur. | |||||||||||||
Non-Designated Derivatives Hedging Transaction Exposure | |||||||||||||
Derivatives not designated as hedging instruments consist of forward and option contracts used to hedge re-measurement of foreign currency denominated monetary assets and liabilities primarily for intercompany transactions, receivables from customers, and payables to third parties. Changes in exchange rates between the Company's subsidiaries' functional currencies and the currencies in which these assets and liabilities are denominated can create fluctuations in the Company's reported consolidated financial position, results of operations and cash flows. The Company enters into forward contracts, which are originally designated as cash flow hedges, and de-designates them upon recognition of the anticipated transaction to protect resulting non-functional currency monetary assets. These forward contracts as well as additional forward contracts are entered into to hedge foreign currency denominated monetary assets and liabilities against the short-term effects of currency exchange rate fluctuations. The Company records its derivative contracts that are not designated as hedging instruments at fair value with the related gains or losses recorded in "Other, net" in the Consolidated Statements of Operations. The gains or losses on these contracts are substantially offset by transaction gains or losses on the underlying balances being hedged. As of December 29, 2013, the Company held option contracts and forward contracts with an aggregate notional value of $9.4 million and $32.1 million, respectively, to hedge balance sheet exposure. The maturity dates of these contracts range from January 2014 to September 2014. The company held option contracts and forward contracts with an aggregate notional value of zero and $121.8 million, respectively, as of December 30, 2012, to hedge balance sheet exposure. | |||||||||||||
Credit Risk | |||||||||||||
The Company's option and forward contracts do not contain any credit-risk-related contingent features. The Company is exposed to credit losses in the event of nonperformance by the counterparties of its option and forward contracts. The Company enters into derivative contracts with high-quality financial institutions and limits the amount of credit exposure to any single counterparty. In addition, the derivative contracts are limited to a time period of 15 months or less and the Company continuously evaluates the credit standing of its counterparties. |
Income_Taxes
Income Taxes | 12 Months Ended | ||||||||||||
Dec. 29, 2013 | |||||||||||||
Income Tax Disclosure [Abstract] | ' | ||||||||||||
Income Tax Disclosure [Text Block] | ' | ||||||||||||
INCOME TAXES | |||||||||||||
The geographic distribution of income (loss) from continuing operations before income taxes and equity earnings of unconsolidated investees and the components of provision for income taxes are summarized below: | |||||||||||||
Year ended | |||||||||||||
(In thousands) | 2013 | 2012 | 2011 | ||||||||||
Geographic distribution of income (loss) from continuing operations before income taxes and equity in earnings of unconsolidated investees: | |||||||||||||
U.S. loss | $ | (32,022 | ) | $ | (140,432 | ) | $ | (431,185 | ) | ||||
Non-U.S. income (loss) | 73,605 | (189,231 | ) | (171,347 | ) | ||||||||
Income (loss) before income taxes and equity in earnings (loss) of unconsolidated investees | $ | 41,583 | $ | (329,663 | ) | $ | (602,532 | ) | |||||
Provision for income taxes: | |||||||||||||
Current tax benefit (expense) | |||||||||||||
Federal | $ | 5,068 | $ | — | $ | (3,105 | ) | ||||||
State | (2,414 | ) | (805 | ) | (317 | ) | |||||||
Foreign | (14,043 | ) | (28,183 | ) | (14,112 | ) | |||||||
Total current tax expense | $ | (11,389 | ) | $ | (28,988 | ) | $ | (17,534 | ) | ||||
Deferred tax benefit (expense) | |||||||||||||
Federal | $ | — | $ | — | $ | — | |||||||
State | — | — | — | ||||||||||
Foreign | (516 | ) | 7,146 | 326 | |||||||||
Total deferred tax benefit | (516 | ) | 7,146 | 326 | |||||||||
Provision for income taxes | $ | (11,905 | ) | $ | (21,842 | ) | $ | (17,208 | ) | ||||
The provision for income taxes differs from the amounts obtained by applying the statutory U.S. federal tax rate to income before taxes as shown below: | |||||||||||||
Year ended | |||||||||||||
(In thousands) | 2013 | 2012 | 2011 | ||||||||||
Statutory rate | 35 | % | 35 | % | 35 | % | |||||||
Tax benefit (expense) at U.S. statutory rate | $ | (14,554 | ) | $ | 115,382 | $ | 210,886 | ||||||
Foreign rate differential | 9,324 | (82,017 | ) | (73,757 | ) | ||||||||
State income taxes, net of benefit | (2,414 | ) | (805 | ) | (317 | ) | |||||||
Goodwill impairment | — | (12,596 | ) | (52,247 | ) | ||||||||
Deemed foreign dividend | (2,511 | ) | — | — | |||||||||
Total investment related costs | — | — | (2,878 | ) | |||||||||
Tax credits (research and development/investment tax credit) | 15,599 | 939 | 4,409 | ||||||||||
Deferred taxes not benefitted | (22,942 | ) | (53,075 | ) | (99,703 | ) | |||||||
Lehman settlement | — | 17,726 | — | ||||||||||
Reserve releases | 10,550 | — | — | ||||||||||
Other, net | (4,957 | ) | (7,396 | ) | (3,601 | ) | |||||||
Total | $ | (11,905 | ) | $ | (21,842 | ) | $ | (17,208 | ) | ||||
As of | |||||||||||||
(In thousands) | 2013 | 2012 | |||||||||||
Deferred tax assets: | |||||||||||||
Net operating loss carryforwards | $ | 84,815 | $ | 118,738 | |||||||||
Research and development credit and California manufacturing credit carryforwards | 26,865 | 11,372 | |||||||||||
Reserves and accruals | 145,382 | 114,125 | |||||||||||
Synthetic debt | 13,595 | 31,921 | |||||||||||
Stock-based compensation stock deductions | 14,752 | 13,147 | |||||||||||
Total deferred tax asset | 285,409 | 289,303 | |||||||||||
Valuation allowance | (90,571 | ) | (182,322 | ) | |||||||||
Total deferred tax asset, net of valuation allowance | 194,838 | 106,981 | |||||||||||
Deferred tax liabilities: | |||||||||||||
Foreign currency derivatives unrealized gains | 184 | 42 | |||||||||||
Other intangible assets and accruals | (44,959 | ) | (32,464 | ) | |||||||||
Fixed asset basis difference | (143,491 | ) | (67,473 | ) | |||||||||
Total deferred tax liabilities | (188,266 | ) | (99,895 | ) | |||||||||
Net deferred tax asset | $ | 6,572 | $ | 7,086 | |||||||||
As of December 29, 2013, the Company had federal net operating loss carryforwards of $298.0 million for tax purposes, of which $34.4 million relate to stock deductions and $160.1 million relate to debt issuance, both of which will benefit equity when realized. These federal net operating loss carryforwards will expire at various dates from 2031 to 2032. As of December 29, 2013, the Company had California state net operating loss carryforwards of approximately $153.6 million for tax purposes, of which $30.0 million relate to stock deductions and $117.7 million relate to debt issuance, both of which will benefit equity when realized. These California net operating loss carryforwards will expire at various dates from 2030 to 2032. The Company also had credit carryforwards of approximately $42.4 million for federal tax purposes and $8.2 million for state tax purposes. These federal credit carryforwards will expire at various dates from 2017 to 2031, and the California credit carryforwards do not expire. The Company’s ability to utilize a portion of the net operating loss and credit carryforwards is dependent upon the Company being able to generate taxable income in future periods and may be limited due to restrictions imposed on utilization of net operating loss and credit carryforwards under federal and state laws upon a change in ownership, such as the transaction with Cypress. | |||||||||||||
The Company is subject to tax holidays in the Philippines where it manufactures its solar power products. The Company's current income tax holidays were granted as manufacturing lines were placed in service and thereafter expire within this fiscal year, and we are in the process of or have applied for extensions and renewals upon expiration. Tax holidays in the Philippines reduce the Company's tax rate to 0% from 30%. Tax savings associated with the Philippines tax holidays were approximately $11.7 million, $9.5 million, and $3.9 million in fiscal 2013, 2012, and 2011, respectively, which provided a diluted net income (loss) per share benefit of $0.08, $0.07, and $0.04, respectively. | |||||||||||||
The Company has a tax ruling in Switzerland where it sells its solar power products. The ruling in Switzerland reduces the Company's tax rate to 11.5% from approximately 24.2%. Tax savings associated with this ruling was approximately $1.5 million, $1.8 million, and $2.3 million in fiscal 2013, 2012, and 2011, respectively, which provided a diluted net income (loss) per share benefit of $0.02, $0.02, and $0.02 in fiscal 2013, 2012, and 2011, respectively. This current tax ruling expires at the end of 2015. | |||||||||||||
As of December 29, 2013, the Company’s foreign subsidiaries have accumulated undistributed earnings of approximately $79.1 million that are intended to be indefinitely reinvested outside the United States and, accordingly, no provision for U.S. federal and state tax has been made for the distribution of these earnings. At December 29, 2013, the amount of the unrecognized deferred tax liability on the indefinitely reinvested earnings was $31.6 million. | |||||||||||||
Valuation Allowance | |||||||||||||
The Company’s valuation allowance is related to deferred tax assets in the United States and France, and was determined by assessing both positive and negative evidence. When determining whether it is more likely than not that deferred assets are recoverable, with such assessment being required on a jurisdiction by jurisdiction basis, management believes that sufficient uncertainty exists with regard to the realizability of these assets such that a valuation allowance is necessary. Factors considered in providing a valuation allowance include the lack of a significant history of consistent profits, the lack of consistent profitability in the solar industry, and the lack of carryback capacity to realize these assets, and other factors. Based on the absence of sufficient positive objective evidence, management is unable to assert that it is more likely than not that the Company will generate sufficient taxable income to realize these remaining net deferred tax assets. Should the Company achieve a certain level of profitability in the future, it may be in a position to reverse the valuation allowance which would result in a non-cash income statement benefit. The change in valuation allowance for fiscal 2013, 2012, and 2011 was $91.8 million, $52.4 million, and $125.3 million, respectively. | |||||||||||||
Unrecognized Tax Benefits | |||||||||||||
Current accounting guidance contains a two-step approach to recognizing and measuring uncertain tax positions. The first step is to evaluate the tax position for recognition by determining if the weight of available evidence indicates that it is more likely than not that the position will be sustained on audit, including resolution of related appeals or litigation processes, if any. The second step is to measure the tax benefit as the largest amount that is more than 50% likely of being realized upon ultimate settlement. | |||||||||||||
A reconciliation of the beginning and ending amounts of unrecognized tax benefits during fiscal 2013, 2012, and 2011 is as follows: | |||||||||||||
Year ended | |||||||||||||
(In thousands) | 2013 | 2012 | 2011 | ||||||||||
Balance, beginning of year | $ | 62,932 | $ | 33,565 | $ | 23,649 | |||||||
Additions for tax positions related to the current year | 2,053 | 708 | 2,535 | ||||||||||
Additions (reductions) for tax positions from prior years | (24,535 | ) | 32,493 | 7,381 | |||||||||
Reductions for tax positions from prior years/statute of limitations expirations | (12,431 | ) | (2,684 | ) | — | ||||||||
Foreign exchange (gain) loss | 1,599 | (1,150 | ) | — | |||||||||
Balance at the end of the period | $ | 29,618 | $ | 62,932 | $ | 33,565 | |||||||
As of December 29, 2013, the Company had net unrecognized tax benefits of $29.6 million, $25.9 million of which would result in a reduction of the Company's effective tax rate. | |||||||||||||
Management believes that events that could occur in the next 12 months and cause a change in unrecognized tax benefits include, but are not limited to, the following: | |||||||||||||
• | commencement, continuation or completion of examinations of the Company’s tax returns by the U.S. or foreign taxing authorities; and | ||||||||||||
• | expiration of statutes of limitation on the Company’s tax returns. | ||||||||||||
The calculation of unrecognized tax benefits involves dealing with uncertainties in the application of complex global tax regulations. Uncertainties include, but are not limited to, the impact of legislative, regulatory and judicial developments, transfer pricing and the application of withholding taxes. Management regularly assesses the Company’s tax positions in light of legislative, bilateral tax treaty, regulatory and judicial developments in the countries in which the Company does business. Management determined that an estimate of the range of reasonably possible change in the amounts of unrecognized tax benefits within the next 12 months cannot be made. | |||||||||||||
Classification of Interests and Penalties | |||||||||||||
The Company accrues interest and penalties on tax contingencies which are classified as "Provision for income taxes" in the Consolidated Statements of Operations. Accrued interest as of December 29, 2013 and December 30, 2012 was approximately $2.6 million and $3.0 million, respectively. Accrued penalties were not material for any of the periods presented. | |||||||||||||
Tax Years and Examination | |||||||||||||
The Company files tax returns in each jurisdiction in which it is registered to do business. In the U.S. and many of the state jurisdictions, and in many foreign countries in which the Company files tax returns, a statute of limitations period exists. After a statute of limitations period expires, the respective tax authorities may no longer assess additional income tax for the expired period. Similarly, the Company is no longer eligible to file claims for refund for any tax that it may have overpaid. The following table summarizes the Company’s major tax jurisdictions and the tax years that remain subject to examination by these jurisdictions as of December 29, 2013: | |||||||||||||
Tax Jurisdictions | Tax Years | ||||||||||||
United States | 2010 and onward | ||||||||||||
California | 2005 and onward | ||||||||||||
Switzerland | 2010 and onward | ||||||||||||
Philippines | 2007 and onward | ||||||||||||
France | 2011 and onward | ||||||||||||
Italy | 2009 and onward | ||||||||||||
Additionally, the 2005 U.S. corporate tax return and 2004 and prior California tax returns are not open for assessment. The tax authorities can adjust net operating loss and research and development carryovers that were generated. | |||||||||||||
The Italian authorities are currently examining the Company's 2009/2010 federal income tax returns. The Company does not expect the examination to result in a material assessment outside of existing reserves. If a material assessment in excess of current reserves results, the amount that the assessment exceeds current reserves will be a current period charge to earnings. |
Common_Stock
Common Stock | 12 Months Ended | ||||||
Dec. 29, 2013 | |||||||
Equity [Abstract] | ' | ||||||
Stockholders' Equity Note Disclosure [Text Block] | ' | ||||||
COMMON STOCK | |||||||
Common Stock | |||||||
Voting Rights - Common Stock | |||||||
All common stock holders are entitled to one vote per share on all matters submitted to be voted on by the Company's stockholders, subject to the preferences applicable to any preferred stock outstanding. | |||||||
Dividends - Common Stock | |||||||
All common stock holders are entitled to receive equal per share dividends when and if declared by the Board of Directors, subject to the preferences applicable to any preferred stock outstanding. The Company's credit facilities place restrictions on the Company and its subsidiaries’ ability to pay cash dividends. | |||||||
Shares Reserved for Future Issuance | |||||||
The Company had shares of common stock reserved for future issuance as follows: | |||||||
(In thousands) | 29-Dec-13 | 30-Dec-12 | |||||
Equity compensation plans | 3,963 | 3,566 | |||||
Net_Income_Loss_Per_Share_of_C
Net Income (Loss) Per Share of Common Stock | 12 Months Ended | ||||||||||||
Dec. 29, 2013 | |||||||||||||
Earnings Per Share [Abstract] | ' | ||||||||||||
Earnings Per Share [Text Block] | ' | ||||||||||||
NET INCOME (LOSS) PER SHARE | |||||||||||||
The Company calculates net income (loss) per share by dividing earnings allocated to common stockholders by the weighted average number of common shares outstanding for the period. | |||||||||||||
Diluted weighted average shares is computed using basic weighted average shares plus any potentially dilutive securities outstanding during the period using the treasury-stock-type method and the if-converted method, except when their effect is anti-dilutive. Potentially dilutive securities include stock options, restricted stock units, the Upfront Warrants held by Total, warrants associated with the CSO2015 and CSO2014, and senior convertible debentures. | |||||||||||||
The following table presents the calculation of basic and diluted net income (loss) per share: | |||||||||||||
Year ended | |||||||||||||
(In thousands, except per share amounts) | 2013 | 2012 | 2011 | ||||||||||
Basic net income (loss) per share: | |||||||||||||
Numerator | |||||||||||||
Net income (loss) attributable to stockholders | $ | 95,593 | $ | (352,020 | ) | $ | (613,737 | ) | |||||
Denominator | |||||||||||||
Basic weighted-average common shares | 120,819 | 117,093 | 97,724 | ||||||||||
Basic net income (loss) per share | $ | 0.79 | $ | (3.01 | ) | $ | (6.28 | ) | |||||
Diluted net income (loss) per share: | |||||||||||||
Numerator | |||||||||||||
Net income (loss) attributable to stockholders | $ | 95,593 | $ | (352,020 | ) | $ | (613,737 | ) | |||||
Add: Interest expense incurred on the 0.75% debentures due 2018, net of tax | 1,295 | — | — | ||||||||||
Net income (loss) available to common stockholders | $ | 96,888 | $ | (352,020 | ) | $ | (613,737 | ) | |||||
Denominator | |||||||||||||
Basic weighted-average common shares | 120,819 | 117,093 | 97,724 | ||||||||||
Effect of dilutive securities: | |||||||||||||
Stock options | 109 | — | — | ||||||||||
Restricted stock units | 5,010 | — | — | ||||||||||
Upfront Warrants (held by Total) | 5,090 | — | — | ||||||||||
Warrants (under the CSO2015) | 590 | — | — | ||||||||||
Warrants (under the CSO2014) | 292 | — | — | ||||||||||
0.75% debentures due 2018 | 7,070 | — | — | ||||||||||
Dilutive weighted-average common shares | 138,980 | 117,093 | 97,724 | ||||||||||
Dilutive net income (loss) per share | $ | 0.7 | $ | (3.01 | ) | $ | (6.28 | ) | |||||
The Upfront Warrants allow Total to acquire up to 9,531,677 shares of the Company's common stock at an exercise price of $7.8685. Holders of the Warrants under the CSO2015 and CSO2014, may acquire up to 11.1 million and 8.7 million shares, respectively, of the Company's common stock at an exercise price of $24.00 and $26.40, respectively. If the market price per share of the Company's common stock for the period exceeds the established strike price of the respective warrants, they will have a dilutive effect on its diluted net income per share using the treasury-stock-type method. | |||||||||||||
Holders of the Company's 0.75% debentures due 2018 and the 4.75% debentures due 2014 may convert the debentures into shares of the Company's common stock, at the applicable conversion rate, at any time on or prior to maturity. These debentures are included in the calculation of diluted net income per share if their inclusion is dilutive under the if-converted method. | |||||||||||||
Holders of the Company's 4.50% debentures due 2015 may, under certain circumstances at their option, convert the debentures into cash, and not into shares of the Company's common stock (or any other securities). Therefore, the 4.50% debentures due 2015 are excluded from the net income per share calculation. | |||||||||||||
The following is a summary of outstanding anti-dilutive potential common stock which was excluded from income (loss) per diluted share in the following periods: | |||||||||||||
Year ended | |||||||||||||
(In thousands) | 2013 | 20121 | 20111 | ||||||||||
Stock options | 194 | 363 | 425 | ||||||||||
Restricted stock units | 1,600 | 6,287 | 1,943 | ||||||||||
Upfront Warrants (held by Total) | — | * | n/a | ||||||||||
Warrants (under the CSO2015) | — | * | * | ||||||||||
Warrants (under the CSO2014) | — | * | * | ||||||||||
0.75% debentures due 2018 | — | n/a | n/a | ||||||||||
4.75% debentures due 2014 | 8,712 | 8,712 | 8,712 | ||||||||||
1 | As a result of the net loss per share for fiscal 2012 and 2011, the inclusion of all potentially dilutive stock options, restricted stock units, and common shares under noted warrants and convertible debt would be anti-dilutive. Therefore, those stock options, restricted stock units and shares were excluded from the computation of the weighted-average shares for diluted net loss per share for such period. | ||||||||||||
* The Company's average stock price during the period did not exceed the exercise price of the related warrants during the period. |
StockBack_Compensation
Stock-Back Compensation | 12 Months Ended | |||||||||||||
Dec. 29, 2013 | ||||||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ' | |||||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Text Block] | ' | |||||||||||||
STOCK-BASED COMPENSATION | ||||||||||||||
The following table summarizes the consolidated stock-based compensation expense by line item in the Consolidated Statements of Operations: | ||||||||||||||
Year ended | ||||||||||||||
(In thousands) | 2013 | 2012 | 2011 | |||||||||||
Cost of Americas revenue | $ | 5,150 | $ | 6,181 | $ | 5,974 | ||||||||
Cost of EMEA revenue | 2,660 | 3,851 | 6,183 | |||||||||||
Cost of APAC revenue | 3,006 | 1,578 | 1,030 | |||||||||||
Research and development | 5,414 | 5,005 | 6,166 | |||||||||||
Sales, general and administrative | 29,448 | 25,824 | 25,772 | |||||||||||
Restructuring charges | — | — | 1,611 | |||||||||||
Total stock-based compensation expense | $ | 45,678 | $ | 42,439 | $ | 46,736 | ||||||||
The following table summarizes the consolidated stock-based compensation expense by type of awards: | ||||||||||||||
Year ended | ||||||||||||||
(In thousands) | 2013 | 2012 | 2011 | |||||||||||
Employee stock options | $ | — | $ | 649 | $ | 1,658 | ||||||||
Restricted stock units | 46,215 | 40,996 | 45,223 | |||||||||||
Change in stock-based compensation capitalized in inventory | (537 | ) | 794 | (145 | ) | |||||||||
Total stock-based compensation expense | $ | 45,678 | $ | 42,439 | $ | 46,736 | ||||||||
As of December 29, 2013, the total unrecognized stock-based compensation related to outstanding restricted stock units was $73.9 million, which the Company expects to recognize over a weighted-average period of 1.9 years. | ||||||||||||||
Equity Incentive Programs | ||||||||||||||
Stock-based Incentive Plans | ||||||||||||||
The Company has three stock incentive plans: the 1996 Stock Plan ("1996 Plan"), the Third Amended and Restated 2005 SunPower Corporation Stock Incentive Plan ("2005 Plan") and the PowerLight Corporation Common Stock Option and Common Stock Purchase Plan ("PowerLight Plan"). The PowerLight Plan was assumed by the Company by way of the acquisition of PowerLight in fiscal 2007. Under the terms of all three plans, the Company may issue incentive or non-statutory stock options or stock purchase rights to directors, employees and consultants to purchase common stock. The 2005 Plan was adopted by the Company’s Board of Directors in August 2005, and was approved by shareholders in November 2005. The 2005 Plan replaced the 1996 Plan and allows not only for the grant of options, but also for the grant of stock appreciation rights, restricted stock grants, restricted stock units and other equity rights. The 2005 Plan also allows for tax withholding obligations related to stock option exercises or restricted stock awards to be satisfied through the retention of shares otherwise released upon vesting. The PowerLight Plan was adopted by PowerLight’s Board of Directors in October 2000. | ||||||||||||||
In May 2008, the Company’s stockholders approved an automatic annual increase available for grant under the 2005 Plan, beginning in fiscal 2009. The automatic annual increase is equal to the lower of three percent of the outstanding shares of all classes of the Company’s common stock measured on the last day of the immediately preceding fiscal quarter, 6.0 million shares, or such other number of shares as determined by the Company’s Board of Directors. As of December 29, 2013, approximately 4.0 million shares were available for grant under the 2005 Plan. Subsequent to the automatic annual increase effective December 30, 2013, shares available for grant will increase to approximately 7.6 million. No new awards are being granted under the 1996 Plan or the PowerLight Plan. | ||||||||||||||
Incentive stock options may be granted at no less than the fair value of the common stock on the date of grant. Non-statutory stock options and stock purchase rights may be granted at no less than 85% of the fair value of the common stock at the date of grant. The options and rights become exercisable when and as determined by the Company’s Board of Directors, although these terms generally do not exceed ten years for stock options. Under the 1996 and 2005 Plans, the options typically vest over five years with a one-year cliff and monthly vesting thereafter. Under the PowerLight Plan, the options typically vest over five years with yearly cliff vesting. Under the 2005 Plan, the restricted stock grants and restricted stock units typically vest in three equal installments annually over three years. | ||||||||||||||
The majority of shares issued are net of the minimum statutory withholding requirements that the Company pays on behalf of its employees. During fiscal 2013, 2012, and 2011, the Company withheld 1,329,140, 905,953 shares, and 784,427 shares, respectively, to satisfy the employees' tax obligations. The Company pays such withholding requirements in cash to the appropriate taxing authorities. Shares withheld are treated as common stock repurchases for accounting and disclosure purposes and reduce the number of shares outstanding upon vesting. | ||||||||||||||
Restricted Stock and Stock Options | ||||||||||||||
The following table summarizes the Company’s non-vested restricted stock activities: | ||||||||||||||
Restricted Stock Units | ||||||||||||||
Shares | Weighted-Average | |||||||||||||
(in thousands) | Grant Date Fair | |||||||||||||
Value Per Share1 | ||||||||||||||
Outstanding as of January 2, 2011 | 6,112 | $ | 18.36 | |||||||||||
Granted | 5,349 | 11.79 | ||||||||||||
Vested2 | (2,255 | ) | 22.32 | |||||||||||
Forfeited | (1,836 | ) | 14.86 | |||||||||||
Outstanding as of January 1, 2012 | 7,370 | 13.25 | ||||||||||||
Granted | 5,638 | 5.93 | ||||||||||||
Vested2 | (2,844 | ) | 13.94 | |||||||||||
Forfeited | (1,588 | ) | 11.52 | |||||||||||
Outstanding as of December 30, 2012 | 8,576 | 8.53 | ||||||||||||
Granted | 5,607 | 15.88 | ||||||||||||
Vested2 | (3,583 | ) | 9.48 | |||||||||||
Forfeited | (1,008 | ) | 10.1 | |||||||||||
Outstanding as of December 29, 2013 | 9,592 | $ | 12.26 | |||||||||||
1 | The Company estimates the fair value of its restricted stock awards and units at its stock price on the grant date. | |||||||||||||
2 | Restricted stock awards and units vested include shares withheld on behalf of employees to satisfy the minimum statutory tax withholding requirements. | |||||||||||||
The following table summarizes the Company’s outstanding options as of December 29, 2013: | ||||||||||||||
Outstanding Stock Options | ||||||||||||||
Shares | Weighted-Average | Weighted-Average | Aggregate | |||||||||||
(in thousands)1 | Exercise Price | Remaining Contractual | Intrinsic Value | |||||||||||
Per Share | Term (in years) | (in thousands) | ||||||||||||
Outstanding and exercisable as of December 29, 2013 | 320 | $ | 30.87 | 2.78 | $ | 3,269 | ||||||||
The intrinsic value of options exercised in fiscal 2013, 2012, and 2011 were $0.8 million, $0.1 million, and $16.4 million, respectively. There were no stock options granted in fiscal 2013, 2012, and 2011. | ||||||||||||||
The aggregate intrinsic value in the preceding table represents the total pre-tax intrinsic value, based on the Company’s closing stock price of $28.91 at December 29, 2013, which would have been received by the option holders had all option holders exercised their options as of that date. The total number of in-the-money options exercisable was 0.2 million shares as of December 29, 2013. |
Segment_Information
Segment Information | 12 Months Ended | ||||||||||||
Dec. 29, 2013 | |||||||||||||
Segment Reporting [Abstract] | ' | ||||||||||||
Segment Reporting Disclosure [Text Block] | ' | ||||||||||||
SEGMENT INFORMATION | |||||||||||||
The Company's President and Chief Executive Officer, as the CODM, has organized the Company, manages resource allocations and measures performance of the Company's activities among three regional segments: (i) the Americas Segment, (ii) the EMEA Segment, and (iii) the APAC Segment. The Americas Segment includes both North and South America. The EMEA Segment includes European countries, as well as the Middle East and Africa. The APAC segment includes all Asia-Pacific countries. | |||||||||||||
The CODM assesses the performance of the three regional segments using information about their revenue and gross margin after certain adjustments to reflect the substance of the revenue transactions for certain utility and power plant projects, and adding back certain non-cash expenses such as stock-based compensation expense and interest expense, as well as other items including gain on contract termination, loss on change in European government incentives, accelerated depreciation associated with the Company's manufacturing step reduction program, and amortization of other intangible assets. The CODM does not review asset information by segment. | |||||||||||||
The following tables present information by segment, including revenue, cost of revenue, gross margin, and depreciation. Revenue is based on the destination of the shipments. | |||||||||||||
Year ended | |||||||||||||
(In thousands): | 2013 | 2012 | 2011 | ||||||||||
Revenue | |||||||||||||
Americas | $ | 1,676,472 | $ | 1,696,348 | $ | 1,266,347 | |||||||
EMEA | 450,659 | 489,484 | 924,337 | ||||||||||
APAC | 380,072 | 231,669 | 183,692 | ||||||||||
Total Revenue | 2,507,203 | 2,417,501 | 2,374,376 | ||||||||||
Cost of revenue | |||||||||||||
Americas | 1,299,701 | 1,415,417 | 1,131,771 | ||||||||||
EMEA | 419,416 | 559,993 | 868,330 | ||||||||||
APAC | 297,014 | 195,693 | 148,057 | ||||||||||
Total cost of revenue | 2,016,131 | 2,171,103 | 2,148,158 | ||||||||||
Gross margin | $ | 491,072 | $ | 246,398 | $ | 226,218 | |||||||
Year ended | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Revenue by region (in thousands): | |||||||||||||
Americas (as reviewed by CODM) | $ | 1,772,260 | $ | 1,901,159 | $ | 1,452,770 | |||||||
Utility and power plant projects | (95,788 | ) | (204,811 | ) | (186,423 | ) | |||||||
Americas | $ | 1,676,472 | $ | 1,696,348 | $ | 1,266,347 | |||||||
EMEA (as reviewed by CODM) | $ | 450,659 | $ | 489,291 | $ | 923,688 | |||||||
Other | — | 193 | 649 | ||||||||||
EMEA | $ | 450,659 | $ | 489,484 | $ | 924,337 | |||||||
APAC (as reviewed by CODM) | $ | 379,400 | $ | 231,669 | $ | 183,692 | |||||||
Other | 672 | — | — | ||||||||||
APAC | $ | 380,072 | $ | 231,669 | $ | 183,692 | |||||||
Cost of revenue by region (in thousands): | |||||||||||||
Americas (as reviewed by CODM) | $ | 1,336,445 | $ | 1,486,554 | $ | 1,250,471 | |||||||
Utility and power plant projects | (18,450 | ) | (97,648 | ) | (147,037 | ) | |||||||
Stock-based compensation expense | 5,150 | 6,181 | 5,974 | ||||||||||
Non-cash interest expense | 1,203 | 1,024 | 1,194 | ||||||||||
Gain on contract termination | (25,604 | ) | — | — | |||||||||
Other | 957 | 19,306 | 21,169 | ||||||||||
Americas | $ | 1,299,701 | $ | 1,415,417 | $ | 1,131,771 | |||||||
EMEA (as reviewed by CODM) | $ | 425,470 | $ | 543,823 | $ | 827,858 | |||||||
Stock-based compensation expense | 2,660 | 3,851 | 6,183 | ||||||||||
Non-cash interest expense | 495 | 526 | 1,148 | ||||||||||
Gain on contract termination | (9,395 | ) | — | — | |||||||||
Other | 186 | 11,793 | 33,141 | ||||||||||
EMEA | $ | 419,416 | $ | 559,993 | $ | 868,330 | |||||||
APAC (as reviewed by CODM) | $ | 310,025 | $ | 187,748 | $ | 144,138 | |||||||
Stock-based compensation expense | 3,006 | 1,578 | 1,030 | ||||||||||
Non-cash interest expense | 713 | 292 | 222 | ||||||||||
Gain on contract termination | (16,988 | ) | — | — | |||||||||
Other | 258 | 6,075 | 2,667 | ||||||||||
APAC | $ | 297,014 | $ | 195,693 | $ | 148,057 | |||||||
Gross margin by region: | |||||||||||||
Americas (as reviewed by CODM) | 25 | % | 22 | % | 14 | % | |||||||
EMEA (as reviewed by CODM) | 6 | % | (11 | )% | 10 | % | |||||||
APAC (as reviewed by CODM) | 18 | % | 19 | % | 22 | % | |||||||
Americas | 22 | % | 17 | % | 11 | % | |||||||
EMEA | 7 | % | (14 | )% | 6 | % | |||||||
APAC | 22 | % | 16 | % | 19 | % | |||||||
Year ended | |||||||||||||
Depreciation by region (in thousands): | 2013 | 2012 | 2011 | ||||||||||
Americas | $ | 46,843 | $ | 59,120 | $ | 50,352 | |||||||
EMEA | 22,380 | 33,047 | 47,896 | ||||||||||
APAC | 28,223 | 16,489 | 8,852 | ||||||||||
Year ended | |||||||||||||
(As a percentage of total revenue): | 2013 | 2012 | 2011 | ||||||||||
Significant Customers: | Business Segment | ||||||||||||
MidAmerican Energy Holdings Company | Americas | 25 | % | * | * | ||||||||
NRG Solar, Inc. | Americas | 17 | % | 35 | % | * | |||||||
* denotes less than 10% during the period | |||||||||||||
Year ended | |||||||||||||
Revenue by Significant Category (in thousands): | 2013 | 2012 | 2011 | ||||||||||
Solar power products | $ | 917,960 | $ | 985,436 | $ | 1,349,023 | |||||||
Solar power systems1 | 1,399,972 | 1,318,269 | 1,010,572 | ||||||||||
Residential leases | 137,054 | 68,914 | 3,045 | ||||||||||
Other revenue2 | 52,217 | 44,882 | 11,736 | ||||||||||
$ | 2,507,203 | $ | 2,417,501 | $ | 2,374,376 | ||||||||
1 | Solar power systems represents revenue recognized in connection with our construction and development contracts. | ||||||||||||
2 | Other revenue includes revenue related to our solar power services and solutions, such as post-installation systems monitoring and maintenance in connection with construction contracts, and commercial PPA agreements. |
Subsequent_Events_Notes
Subsequent Events (Notes) | 12 Months Ended |
Dec. 29, 2013 | |
Subsequent Events [Abstract] | ' |
Subsequent Events [Text Block] | ' |
SUBSEQUENT EVENTS | |
On January 31, 2014, the Restructuring Date occurred under the July 2013 revolving credit facility. As a result, (i) our obligations under the July 2013 revolving credit facility became secured by a pledge of certain accounts receivable and inventory; (ii) certain of our subsidiaries entered into guaranties of the July 2013 revolving credit facility; and (iii) Total S.A.'s guarantee of our obligations under the July 2013 revolving credit facility expired. |
The_Company_and_Summary_of_Sig1
The Company and Summary of Significant Accounting Policies (Policies) | 12 Months Ended | |
Dec. 29, 2013 | ||
Accounting Policies [Abstract] | ' | |
Consolidation, Policy [Policy Text Block] | ' | |
Principles of Consolidation | ||
The consolidated financial statements are prepared in accordance with accounting principles generally accepted in the United States of America ("United States" or "U.S.") and include the accounts of the Company, all of its subsidiaries and special purpose entities, as appropriate under consolidation accounting guidelines. Intercompany transactions and balances have been eliminated in consolidation. The assets of the special purpose entities that the Company sets up related to project financing for customers are not designed to be available to service the general liabilities and obligations of the Company in certain circumstances. | ||
Reclassification, Policy [Policy Text Block] | ' | |
Reclassifications | ||
Certain prior period balances have been reclassified to conform to the current period presentation in the Company's consolidated financial statements and the accompanying notes. Such reclassifications had no effect on previously reported results of operations or accumulated deficit. | ||
Fiscal Period, Policy [Policy Text Block] | ' | |
Fiscal Years | ||
The Company has a 52-to-53-week fiscal year that ends on the Sunday closest to December 31. Accordingly, every fifth or sixth year will be a 53-week fiscal year. Fiscal 2013, 2012, and 2011 were 52-week fiscal years. Fiscal 2013 ended on December 29, 2013, fiscal 2012 ended on December 30, 2012, and fiscal 2011 ended on January 1, 2012. | ||
Use of Estimates, Policy [Policy Text Block] | ' | |
Management Estimates | ||
The preparation of the consolidated financial statements in conformity with U.S. generally accepted accounting principles ("U.S. GAAP") requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. Significant estimates in these consolidated financial statements include percentage-of-completion for construction projects; allowances for doubtful accounts receivable and sales returns; inventory and project asset write-downs; stock-based compensation; estimates for future cash flows and economic useful lives of property, plant and equipment and other long-term assets; the fair value and residual value of leased solar power systems; fair value of financial instruments; valuation of certain accrued liabilities such as accrued warranty; and income taxes and tax valuation allowances. Actual results could materially differ from those estimates. | ||
Fair Value of Financial Instruments, Policy [Policy Text Block] | ' | |
Fair Value of Financial Instruments | ||
The fair value of a financial instrument is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The carrying values of cash and cash equivalents, accounts receivable, and accounts payable approximate their respective fair values due to their short-term maturities. Investments in available-for-sale securities are carried at fair value based on quoted market prices or estimated based on market conditions and risks existing at each balance sheet date. Foreign currency derivatives are carried at fair value based on quoted market prices for financial instruments with similar characteristics. Unrealized gains and losses of the Company’s available-for-sale securities and the effective portion of foreign currency derivatives are excluded from earnings and reported as a component of "Accumulated other comprehensive loss" in the Consolidated Balance Sheets. Additionally, the Company assesses whether an other-than-temporary impairment loss on its available-for-sale securities has occurred due to declines in fair value or other market conditions. Declines in fair value that are considered other-than-temporary and the ineffective portion of foreign currency derivatives are included in "Other, net" in the Consolidated Statements of Operations. | ||
Comprehensive Income, Policy [Policy Text Block] | ' | |
Comprehensive Income (Loss) | ||
Comprehensive income (loss) is defined as the change in equity during a period from non-owner sources. The Company’s comprehensive income (loss) for each period presented is comprised of (i) the Company’s net income (loss); (ii) foreign currency translation adjustment of the Company’s foreign subsidiaries whose assets and liabilities are translated from their respective functional currencies at exchange rates in effect at the balance sheet date, and revenues and expenses are translated at average exchange rates prevailing during the applicable period; and (iii) changes in unrealized gains or losses, net of tax, for the effective portion of derivatives designated as cash flow hedges (see Note 11) and available-for-sale securities carried at their fair value. | ||
Cash and Cash Equivalents, Policy [Policy Text Block] | ' | |
Cash Equivalents | ||
Highly liquid investments with original or remaining maturities of ninety days or less at the date of purchase are considered cash equivalents. | ||
Cash and Cash Equivalents, Restricted Cash and Cash Equivalents, Policy [Policy Text Block] | ' | |
Cash in Restricted Accounts | ||
The Company maintains cash and cash equivalents in restricted accounts pursuant to various letters of credit, surety bonds, loan agreements, and other agreements in the normal course of business. | ||
Investment, Policy [Policy Text Block] | ' | |
Short-Term and Long-Term Investments | ||
The Company invests in money market funds and debt securities. In general, investments with original maturities of greater than ninety days and remaining maturities of one year or less are classified as short-term investments, and investments with maturities of more than one year are classified as long-term investments. Investments with maturities beyond one year may be classified as short-term based on their highly liquid nature and because such investments represent the investment of cash that is available for current operations. Despite the long-term maturities, the Company has the ability and intent, if necessary, to liquidate any of these investments in order to meet the Company’s working capital needs within its normal operating cycles. The Company has classified these investments as available-for-sale securities (see Note 6). | ||
Inventory, Policy [Policy Text Block] | ' | |
Inventories | ||
Inventories are valued at the lower of cost or market value. The Company evaluates the recoverability of its inventories based on assumptions about expected demand and market conditions. The Company’s assumption of expected demand is developed based on its analysis of bookings, sales backlog, sales pipeline, market forecast, and competitive intelligence. The Company’s assumption of expected demand is compared to available inventory, production capacity, available third-party inventory, and growth plans. The Company’s factory production plans, which drive materials requirement planning, are established based on its assumptions of expected demand. The Company responds to reductions in expected demand by temporarily reducing manufacturing output and adjusting expected valuation assumptions as necessary. In addition, expected demand by geography has changed historically due to changes in the availability and size of government mandates and economic incentives. | ||
The Company evaluates the terms of its long-term agreements with suppliers, including joint ventures, for the procurement of polysilicon, ingots, wafers, and solar cells and establishes accruals for estimated losses on adverse purchase commitments as necessary, such as lower of cost of market value adjustments, forfeiture of advanced deposits and liquidated damages. Obligations related to non-cancellable purchase orders for inventories match current and forecasted sales orders that will consume these ordered materials and actual consumption of these ordered materials are compared to expected demand regularly. The Company anticipates total obligations related to long-term supply agreements for inventories will be recovered because quantities are less than management's expected demand for its solar power products. Other market conditions that could affect the realizable value of the Company's inventories and are periodically evaluated by management include historical inventory turnover ratio, anticipated sales price, new product development schedules, the effect new products might have on the sale of existing products, product obsolescence, customer concentrations, and product merchantability, among other factors. If, based on assumptions about expected demand and market conditions, we determine that the cost of inventories exceeds its estimated market value or inventory is excess or obsolete, we record a write-down or accrual, which may be material, equal to the difference between the cost of inventories and the estimated market value. If actual market conditions are more favorable, the Company may have higher gross margin when products that have been previously written down are sold in the normal course of business (see Note 4). | ||
Lease, Policy [Policy Text Block] | ' | |
Solar Power Systems Leased and to be Leased | ||
Solar power systems leased to residential customers under operating leases are stated at cost, less accumulated depreciation and are amortized to their estimated residual value over the life of the lease term of up to 20 years. | ||
Solar power systems to be leased represents systems that are under installation or which have not been interconnected, which will be depreciated as solar power systems leased to customers when the respective systems are completed, interconnected and subsequently leased to residential customers under operating leases. | ||
Initial direct costs for operating leases are capitalized and amortized over the term of the related customer lease agreements. | ||
Finance, Loans and Leases Receivable, Policy [Policy Text Block] | ' | |
Financing Receivables | ||
Leases are classified as either operating or sales-type leases in accordance with the relevant accounting guidelines. Financing receivables are generated by solar power systems leased to residential customers under sales-type leases. Financing receivables represents gross minimum lease payments to be received from customers and the systems estimated residual value, net of unearned income and allowance for estimated losses. Initial direct costs for sales-type leases are recognized as cost of sales when the solar power systems are placed in service. The Company recognizes an allowance for losses on financing receivables in an amount equal to the probable losses net of recoveries. | ||
Property, Plant and Equipment, Policy [Policy Text Block] | ' | |
Property, Plant and Equipment | ||
Property, plant and equipment are stated at cost, less accumulated depreciation. Depreciation, excluding solar power systems leased to residential customers as described above, is computed using the straight-line method over the estimated useful lives of the assets as presented below. Leasehold improvements are amortized over the shorter of the estimated useful lives of the assets or the remaining term of the lease. Repairs and maintenance costs are expensed as incurred. | ||
Useful Lives | ||
in Years | ||
Buildings | 20 | |
Leasehold improvements | 1 to 20 | |
Manufacturing equipment | 8 to 15 | |
Computer equipment | 2 to 7 | |
Solar power systems | 30 | |
Furniture and fixtures | 3 to 5 | |
Long-lived assets, policy [Policy Text Block] | ' | |
Long-Lived Assets | ||
The Company evaluates its long-lived assets, including property, plant and equipment and other intangible assets with finite lives, for impairment whenever events or changes in circumstances indicate that the carrying value of such assets may not be recoverable. Factors considered important that could result in an impairment review include significant under-performance relative to expected historical or projected future operating results, significant changes in the manner of use of acquired assets, and significant negative industry or economic trends. The Company's impairment evaluation of long-lived assets includes an analysis of estimated future undiscounted net cash flows expected to be generated by the assets over their remaining estimated useful lives. If the Company's estimate of future undiscounted net cash flows is insufficient to recover the carrying value of the assets over the remaining estimated useful lives, it records an impairment loss in the amount by which the carrying value of the assets exceeds the fair value. Fair value is generally measured based on either quoted market prices, if available, or discounted cash flow analysis. | ||
Project Assets [Policy Text Block] | ' | |
Project Assets - Plant and Land | ||
Project assets consist primarily of capitalized costs relating to solar power system projects in various stages of development that the Company incurs prior to the sale of the solar power system to a third-party. These costs include costs for land and costs for developing and constructing a solar power system. Development costs can include legal, consulting, permitting, and other similar costs. Once the Company enters into a definitive sales agreement, it reclassifies these project asset costs to deferred project costs within "Prepaid expenses and other current assets" in its Consolidated Balance Sheet until the Company has met the criteria to recognize the sale of the project asset or solar power project as revenue. The Company releases these project costs to cost of revenue as each respective project asset or solar power system is sold to a customer, since the project is constructed for a customer (matching the underlying revenue recognition method). | ||
The Company reviews project assets for impairment whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. The Company considers the project commercially viable if it is anticipated to be sellable for a profit once it is either fully developed or fully constructed. The Company examines a number of factors to determine if the project will be profitable, including whether there are any environmental, ecological, permitting, or regulatory conditions that have changed for the project since the start of development. Such changes could cause the cost of the project to increase or the selling price of the project to decrease. Due to the development, construction, and sale timeframe of the Company's larger solar projects, it classifies project assets which are not expected to be sold within the next 12 months as "Project assets - plants and land, net of current portion" on the Consolidated Balance Sheets. Once specific milestones have been achieved, the Company determines if the sale of the project assets will occur within the next 12 months from a given balance sheet date and, if so, it then reclassifies the project assets as current. | ||
Standard Product Warranty, Policy [Policy Text Block] | ' | |
Product Warranties | ||
The Company generally warrants or guarantees the performance of the solar panels that it manufactures at certain levels of power output for 25 years. In addition, the Company passes through to customers long-term warranties from the original equipment manufacturers ("OEMs") of certain system components, such as inverters. Warranties of 25 years from solar panel suppliers are standard in the solar industry, while inverters typically carry warranty periods ranging from 5 to 10 years. In addition, the Company generally warrants its workmanship on installed systems for periods ranging up to 10 years. The Company maintains reserves to cover the expected costs that could result from these warranties. The Company’s expected costs are generally in the form of product replacement or repair. Warranty reserves are based on the Company’s best estimate of such costs and are recognized as a cost of revenue. The Company continuously monitors product returns for warranty failures and maintains a reserve for the related warranty expenses based on various factors including historical warranty claims, results of accelerated lab testing, field monitoring, vendor reliability estimates, and data on industry averages for similar products. Historically, warranty costs have been within management’s expectations (see Note 8). | ||
Revenue Recognition, Policy [Policy Text Block] | ' | |
Revenue Recognition | ||
Solar Power Products | ||
The Company sells its solar panels and balance of system components primarily to dealers, system integrators and distributors, and recognizes revenue, net of accruals for estimated sales returns, when persuasive evidence of an arrangement exists, delivery of the product has occurred, title and risk of loss has passed to the customer, the sales price is fixed or determinable, collectability of the resulting receivable is reasonably assured, and the risks and rewards of ownership have passed to the customer. Other than standard warranty obligations, there are no rights of return and there are no significant post-shipment obligations, including installation, training or customer acceptance clauses with any of the Company's customers that could have an impact on revenue recognition. The Company's revenue recognition policy is consistent across all geographic areas. | ||
The provision for estimated sales returns on product sales is recorded in the same period the related revenues are recorded. These estimates are based on historical sales returns, analysis of credit memo data, and other known factors. Actual returns could differ from these estimates. | ||
Construction Contracts | ||
Revenue is also composed of Engineering, Procurement and Construction ("EPC") projects which are governed by customer contracts that require the Company to deliver functioning solar power systems and are generally completed within three to twelve months from commencement of construction. Construction on large projects may be completed within eighteen to thirty-six months, depending on the size and location. The Company recognizes revenue from fixed price construction contracts, that do not include land or land rights, using the percentage-of-completion method of accounting. Under this method, revenue arising from fixed-price construction contracts is recognized as work is performed based on the percentage of incurred costs to estimated total forecasted costs. | ||
Incurred costs used in the Company’s percentage-of-completion calculation include all direct material, labor and subcontract costs, and those indirect costs related to contract performance, such as indirect labor, supplies, and tools. Project material costs are included in incurred costs when the project materials have been installed by being permanently attached or fitted to the solar power system as required by the project’s engineering design. | ||
In addition to an EPC deliverable, a limited number of arrangements also include multiple deliverables such as post-installation systems monitoring and maintenance. For contracts with separately priced monitoring and maintenance, the Company recognizes revenue related to such separately priced elements over the contract period. For contracts including monitoring and maintenance not separately priced, the Company determined that post-installation systems monitoring and maintenance qualify as separate units of accounting. Such post-installation monitoring and maintenance are deferred at the time the contract is executed based on the best estimate of selling price on a standalone basis and are recognized to revenue over the contractual term. The remaining EPC revenue is recognized on a percentage-of-completion basis. | ||
In addition, when arrangements include contingent revenue clauses, such as customer termination or put rights for non-performance, the Company defers the contingent revenue if there is a reasonable possibility that such rights or contingencies may be triggered. In certain limited cases, the Company could be required to buy-back a customer’s system at fair value on specified future dates if certain minimum performance thresholds are not met for periods of up to two years. To date, no such repurchase obligations have been required. | ||
Provisions for estimated losses on uncompleted contracts, if any, are recognized in the period in which the loss first becomes probable and reasonably estimable. Contracts may include profit incentives such as milestone bonuses. These profit incentives are included in the contract value when their realization is reasonably assured. | ||
Development Projects | ||
The Company develops and sells solar power plants which generally include the sale or lease of related real estate. Revenue recognition for these solar power plants require adherence to specific guidance for real estate sales, which provides that if the Company executes a sale of land in connection with an EPC contract requiring the future development of the property, it recognizes revenue and the corresponding costs under the full accrual method when all of the following requirements are met: the sale is consummated, the buyer's initial and any continuing investments are adequate, the resulting receivables are not subject to subordination, the future costs to develop the property can be reasonably estimated and the Company has transferred the customary risk and rewards of ownership to the buyer. In general, a sale is consummated upon the execution of an agreement documenting the terms of the sale and receipt of a minimum initial payment by the buyer to substantiate the transfer of risk to the buyer. Depending on the value of the initial and continuing investment of the buyer, and provided the recovery of the costs of the solar power plant are reasonably assured if the buyer defaults, the Company may defer revenue and profit during construction by aligning its revenue recognition and release of deferred project costs to cost of sales with the receipt of payment from the buyer. At the time it has unconditionally received payment from the buyer, revenue is recognized and deferred project costs are released to cost of sales at the same rate of profit estimated throughout the construction of the project. The Company's revenue recognition methods for solar power plants not involving real estate are accounted for using the percentage-of-completion method. | ||
Residential Leases | ||
The Company offers a solar lease program, in partnership with third-party financial institutions, which allows its residential customers to obtain SunPower systems under lease agreements for terms of up to 20 years. Leases are classified as either operating or sales-type leases in accordance with the relevant accounting guidelines. | ||
For those systems classified as sales-type leases, the net present value of the minimum lease payments, net of executory costs, is recognized as revenue when the lease is placed in service. This net present value as well as the net present value of the residual value of the lease at termination are recorded as financing receivables in the Consolidated Balance Sheets. The difference between the initial net amounts and the gross amounts are amortized to revenue over the lease term using the interest method. The residual values of our solar systems are determined at the inception of the lease applying an estimated system fair value at the end of the lease term. | ||
For those systems classified as operating leases, rental revenue is recognized, net of executory costs, on a straight-line basis over the term of the lease. | ||
Shipping and Handling Cost, Policy [Policy Text Block] | ' | |
Shipping and Handling Costs | ||
The Company records costs related to shipping and handling in cost of revenue. | ||
Share-based Compensation, Option and Incentive Plans Policy [Policy Text Block] | ' | |
Stock-Based Compensation | ||
The Company measures and records compensation expense for all share-based payment awards based on estimated fair values. The Company provides share-based awards to its employees, executive officers, and directors through various equity compensation plans including its employee stock option and restricted stock plans. The fair value of stock option awards is measured at the date of grant using a Black-Scholes option pricing model, and the fair value of restricted stock awards and units is based on the market price of the Company's common stock on the date of grant. The Company has not granted stock options since fiscal 2008. | ||
The Company estimates forfeitures at the date of grant. The Company's estimate of forfeitures is based on its historical activity, which it believes is indicative of expected forfeitures. In subsequent periods if the actual rate of forfeitures differs from the Company's estimate, the forfeiture rates may be revised, as necessary. Changes in the estimated forfeiture rates can have a significant effect on share-based compensation expense since the effect of adjusting the rate is recognized in the period the forfeiture estimate is changed. | ||
The Company also grants performance share units to executive officers and certain employees that require it to estimate expected achievement of performance targets over the performance period. This estimate involves judgment regarding future expectations of various financial performance measures. If there are changes in the Company's estimate of the level of financial performance measures expected to be achieved, the related share-based compensation expense may be significantly increased or reduced in the period that its estimate changes. | ||
Advertising Costs, Policy [Policy Text Block] | ' | |
Advertising Costs | ||
Advertising costs are expensed as incurred. Advertising expense totaled approximately $11.8 million, $9.2 million, and $3.9 million, in fiscal 2013, 2012, and 2011, respectively. | ||
Research and Development Expense, Policy [Policy Text Block] | ' | |
Research and Development Expense | ||
Research and development expense consists primarily of salaries and related personnel costs, depreciation and the cost of solar cell and solar panel materials and services used for the development of products, including experiments and testing. All research and development costs are expensed as incurred. Research and development expense is reported net of contributions under the R&D Agreement with Total and contracts with governmental agencies because such contracts are considered collaborative arrangements. | ||
Foreign Currency Transactions and Translations Policy [Policy Text Block] | ' | |
Translation of Foreign Currency | ||
The Company and certain of its subsidiaries use their respective local currency as their functional currency. Accordingly, foreign currency assets and liabilities are translated using exchange rates in effect at the end of the period. Foreign subsidiaries that use the U.S. dollar as their functional currency remeasure monetary assets and liabilities using exchange rates in effect at the end of the period. Non-monetary assets and liabilities are carried at their historical values. | ||
The Company includes gains or losses from foreign currency transactions in "Other, net" in the Consolidated Statements of Operations with the other hedging activities described in Note 11. | ||
Concentration Risk, Credit Risk, Policy [Policy Text Block] | ' | |
Concentration of Credit Risk | ||
The Company is exposed to credit losses in the event of nonperformance by the counterparties to its financial and derivative instruments. Financial and derivative instruments that potentially subject the Company to concentrations of credit risk are primarily cash and cash equivalents, restricted cash and cash equivalents, investments, accounts receivable, notes receivable, advances to suppliers, foreign currency option contracts, foreign currency forward contracts, bond hedge and warrant transactions, and purchased options. The Company’s investment policy requires cash and cash equivalents, restricted cash and cash equivalents, and investments to be placed with high-quality financial institutions and to limit the amount of credit risk from any one issuer. Similarly, the Company enters into foreign currency derivative contracts and convertible debenture hedge transactions with high-quality financial institutions and limits the amount of credit exposure to any one counterparty. The foreign currency derivative contracts are limited to a time period of less than 15 months, while the purchased options will expire in 2014 and the bond hedge and warrant transactions expire in 2015. The Company regularly evaluates the credit standing of its counterparty financial institutions. | ||
The Company performs ongoing credit evaluations of its customers’ financial condition whenever deemed necessary and generally does not require collateral. The Company maintains an allowance for doubtful accounts based on the expected collectability of all accounts receivable, which takes into consideration an analysis of historical bad debts, specific customer creditworthiness and current economic trends. Qualified customers under our residential lease program are generally required to have a minimum credit score. We believe that our concentration of credit risk is limited because of our large number of customers, credit quality of the customer base, small account balances for most of these customers, and customer geographic diversification. One customer accounted for 31% of accounts receivable as of December 29, 2013 and one customer accounted for 14% of accounts receivable as of December 30, 2012. In addition, one customer accounted for approximately 34% of the Company’s "Costs and estimated earnings in excess of billings" balance as of December 29, 2013 on the Consolidated Balance Sheets as compared to one customer that accounted for approximately 24% of the balance as of December 30, 2012. | ||
The Company has entered into agreements with vendors that specify future quantities and pricing of polysilicon to be supplied for periods up to 10 years. Under certain agreements, the Company is required to make prepayments to the vendors over the terms of the arrangements. | ||
Income Tax, Policy [Policy Text Block] | ' | |
Income Taxes | ||
Deferred tax assets and liabilities are recognized for temporary differences between financial statement and income tax bases of assets and liabilities. Valuation allowances are provided against deferred tax assets when management cannot conclude that it is more likely than not that some portion or all deferred tax assets will be realized. | ||
As applicable, interest and penalties on tax contingencies are included in "Provision for income taxes" in the Consolidated Statements of Operations and such amounts were not material for any periods presented. In addition, foreign exchange gains (losses) may result from estimated tax liabilities, which are expected to be settled in currencies other than the U.S. dollar. | ||
Equity Method Investments, Policy [Policy Text Block] | ' | |
Investments in Equity Interests | ||
Investments in entities in which the Company can exercise significant influence, but does not own a majority equity interest or otherwise control, are accounted for under the equity method. The Company records its share of the results of these entities as "Equity in earnings (loss) of unconsolidated investees" on the Consolidated Statements of Operations. The Company monitors its investments for other-than-temporary impairment by considering factors such as current economic and market conditions and the operating performance of the entities and records reductions in carrying values when necessary. The fair value of privately held investments is estimated using the best available information as of the valuation date, including current earnings trends, undiscounted cash flows, and other company specific information, including recent financing rounds (see Notes 6 and 9). | ||
Consolidation, Subsidiaries or Other Investments, Consolidated Entities, Policy [Policy Text Block] | ' | |
Noncontrolling Interests | ||
Noncontrolling interests represents the portion of net assets in consolidated subsidiaries that are not attributable, directly or indirectly, to the Company. Beginning in the first quarter of fiscal 2013, the Company has entered into facilities with third-party investors under which the investors are determined to hold noncontrolling interests in entities fully consolidated by the Company. The net assets of the shared entities are attributed to the controlling and noncontrolling interests based on the terms of the governing contractual arrangements. The Company further determined the hypothetical liquidation at book value method ("HLBV Method") to be the appropriate method for attributing net assets to the controlling and noncontrolling interests as this method most closely mirrors the economics of the governing contractual arrangements. Under the HLBV Method, the Company allocates recorded income (loss) to each investor based on the change, during the reporting period, of the amount of net assets each investor is entitled to under the governing contractual arrangements in a liquidation scenario. |
The_Company_and_Summary_of_Sig2
The Company and Summary of Significant Accounting Policies (Tables) | 12 Months Ended | ||||||||
Dec. 29, 2013 | |||||||||
Accounting Policies [Abstract] | ' | ||||||||
Property, Plant and Equipment [Table Text Block] | ' | ||||||||
Useful Lives | |||||||||
in Years | |||||||||
Buildings | 20 | ||||||||
Leasehold improvements | 1 to 20 | ||||||||
Manufacturing equipment | 8 to 15 | ||||||||
Computer equipment | 2 to 7 | ||||||||
Solar power systems | 30 | ||||||||
Furniture and fixtures | 3 to 5 | ||||||||
As of | |||||||||
(In thousands) | 2013 | 2012 | |||||||
Property, plant and equipment, net: | |||||||||
Manufacturing equipment3 | $ | 538,616 | $ | 531,289 | |||||
Land and buildings | 26,138 | 20,109 | |||||||
Leasehold improvements | 229,846 | 221,378 | |||||||
Solar power systems4 | 82,036 | 12,501 | |||||||
Computer equipment | 79,519 | 75,438 | |||||||
Furniture and fixtures | 8,392 | 8,178 | |||||||
Construction-in-process | 11,724 | 34,110 | |||||||
976,271 | 903,003 | ||||||||
Less: accumulated depreciation | (442,884 | ) | (376,089 | ) | |||||
$ | 533,387 | $ | 526,914 | ||||||
3 | The Company's mortgage loan agreement with International Finance Corporation ("IFC") is collateralized by certain manufacturing equipment with a net book value of $145.9 million and $152.9 million as of December 29, 2013 and December 30, 2012, respectively. The Company also provided security for advance payments received from a third-party supplier in the form of collateralized manufacturing equipment with a net book value of $16.5 million as of December 30, 2012. | ||||||||
4 | Includes $52.6 million of solar power systems associated with sale-leaseback transactions under the financing method as of December 29, 2013 (see Note 5). |
Transactions_with_Total_and_To1
Transactions with Total and Total S.A. (Tables) | 12 Months Ended | ||||||||||||
Dec. 29, 2013 | |||||||||||||
Related Party Transaction [Line Items] | ' | ||||||||||||
Schedule of Related Party Transactions [Table Text Block] | ' | ||||||||||||
Related Party Transactions with Total and its Affiliates: | |||||||||||||
Year Ended | |||||||||||||
(In thousands) | 2013 | 2012 | |||||||||||
Research and development expense: | |||||||||||||
Offsetting contributions received under R&D Agreement | $ | 1,661 | $ | — | |||||||||
Interest expense: | |||||||||||||
Guarantee fees incurred under Credit Support Agreement | $ | 8,890 | $ | 6,916 | |||||||||
Fees incurred under the Compensation and Funding Agreement | $ | 5,533 | $ | 4,952 | |||||||||
Interest expense incurred on the 0.75% Debentures Due 2018 | $ | 883 | $ | — | |||||||||
Related Party Transactions with Equity and Cost Method Investees: | |||||||||||||
As of | |||||||||||||
(In thousands) | 2013 | 2012 | |||||||||||
Accounts receivable | $ | 11,780 | $ | 23,713 | |||||||||
Accounts payable | 51,499 | 73,669 | |||||||||||
Other long-term assets: | |||||||||||||
Long-term note receivable | 3,688 | 1,040 | |||||||||||
Year Ended | |||||||||||||
(In thousands) | 2013 | 2012 | 2011 | ||||||||||
Payments made to investees for products/services | $ | 480,802 | $ | 606,301 | $ | 449,149 | |||||||
Balance_Sheet_Components_Table
Balance Sheet Components (Tables) | 12 Months Ended | ||||||||||||||||
Dec. 29, 2013 | |||||||||||||||||
Balance Sheet Related Disclosures [Abstract] | ' | ||||||||||||||||
Accounts Receivable Trade [Table Text Block] | ' | ||||||||||||||||
As of | |||||||||||||||||
(In thousands) | 2013 | 2012 | |||||||||||||||
Accounts receivable, net: | |||||||||||||||||
Accounts receivable, gross1,2 | $ | 389,152 | $ | 429,977 | |||||||||||||
Less: allowance for doubtful accounts | (26,463 | ) | (26,773 | ) | |||||||||||||
Less: allowance for sales returns | (2,095 | ) | (5,054 | ) | |||||||||||||
$ | 360,594 | $ | 398,150 | ||||||||||||||
1 | Includes short-term financing receivables associated with solar power systems leased of $4.4 million and $4.5 million as of fiscal 2013 and 2012, respectively (see Note 5). | ||||||||||||||||
2 | Includes short-term retainage of $8.3 million and $71.1 million as of fiscal 2013 and fiscal 2012, respectively. Retainage refers to the earned, but unbilled, portion of a construction and development project which is withheld for payment by the customer until certain milestones are met in accordance with the related contract. | ||||||||||||||||
Schedule of Valuation and Qualifying Accounts Disclosure [Text Block] | ' | ||||||||||||||||
(In thousands) | Balance at Beginning of Period | Charges (Releases) to Expenses / Revenues | Deductions | Balance at End of Period | |||||||||||||
Allowance for doubtful accounts: | |||||||||||||||||
Year ended December 29, 2013 | $ | 26,773 | $ | 8,258 | $ | (8,568 | ) | $ | 26,463 | ||||||||
Year ended December 30, 2012 | 21,039 | 8,898 | (3,164 | ) | 26,773 | ||||||||||||
Year ended January 1, 2012 | 5,967 | 18,398 | (3,326 | ) | 21,039 | ||||||||||||
Allowance for sales returns: | |||||||||||||||||
Year ended December 29, 2013 | 5,054 | (2,959 | ) | — | 2,095 | ||||||||||||
Year ended December 30, 2012 | 8,648 | (3,594 | ) | — | 5,054 | ||||||||||||
Year ended January 1, 2012 | 2,387 | 6,261 | — | 8,648 | |||||||||||||
Valuation allowance for deferred tax assets: | |||||||||||||||||
Year ended December 29, 2013 | 182,322 | (91,751 | ) | — | 90,571 | ||||||||||||
Year ended December 30, 2012 | 129,946 | 52,376 | — | 182,322 | |||||||||||||
Year ended January 1, 2012 | 4,644 | 125,302 | — | 129,946 | |||||||||||||
Schedule of Inventory, Current [Table Text Block] | ' | ||||||||||||||||
As of | |||||||||||||||||
(In thousands) | 2013 | 2012 | |||||||||||||||
Inventories: | |||||||||||||||||
Raw materials | $ | 51,905 | $ | 95,227 | |||||||||||||
Work-in-process | 52,756 | 40,048 | |||||||||||||||
Finished goods | 140,914 | 156,111 | |||||||||||||||
$ | 245,575 | $ | 291,386 | ||||||||||||||
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Table Text Block] | ' | ||||||||||||||||
Prepaid expenses and other current assets: | |||||||||||||||||
Deferred project costs | $ | 275,389 | $ | 305,980 | |||||||||||||
Bond hedge derivative | 110,477 | — | |||||||||||||||
VAT receivables, current portion | 21,481 | 97,041 | |||||||||||||||
Deferred costs for solar power systems to be leased | 23,429 | 31,419 | |||||||||||||||
Foreign currency derivatives | 4,642 | 1,275 | |||||||||||||||
Other receivables | 112,062 | 104,640 | |||||||||||||||
Other prepaid expenses | 28,629 | 25,230 | |||||||||||||||
Other current assets | 70,161 | 47,468 | |||||||||||||||
$ | 646,270 | $ | 613,053 | ||||||||||||||
Investments In Power And Distribution Projects [Table Text Block] | ' | ||||||||||||||||
Project assets - plants and land: | |||||||||||||||||
Project assets — plants | $ | 64,564 | $ | 61,862 | |||||||||||||
Project assets — land | 11,043 | 21,645 | |||||||||||||||
$ | 75,607 | $ | 83,507 | ||||||||||||||
Project assets - plants and land, current portion | $ | 69,196 | $ | 75,911 | |||||||||||||
Project assets - plants and land, net of current portion | $ | 6,411 | $ | 7,596 | |||||||||||||
Property, Plant and Equipment [Table Text Block] | ' | ||||||||||||||||
Useful Lives | |||||||||||||||||
in Years | |||||||||||||||||
Buildings | 20 | ||||||||||||||||
Leasehold improvements | 1 to 20 | ||||||||||||||||
Manufacturing equipment | 8 to 15 | ||||||||||||||||
Computer equipment | 2 to 7 | ||||||||||||||||
Solar power systems | 30 | ||||||||||||||||
Furniture and fixtures | 3 to 5 | ||||||||||||||||
As of | |||||||||||||||||
(In thousands) | 2013 | 2012 | |||||||||||||||
Property, plant and equipment, net: | |||||||||||||||||
Manufacturing equipment3 | $ | 538,616 | $ | 531,289 | |||||||||||||
Land and buildings | 26,138 | 20,109 | |||||||||||||||
Leasehold improvements | 229,846 | 221,378 | |||||||||||||||
Solar power systems4 | 82,036 | 12,501 | |||||||||||||||
Computer equipment | 79,519 | 75,438 | |||||||||||||||
Furniture and fixtures | 8,392 | 8,178 | |||||||||||||||
Construction-in-process | 11,724 | 34,110 | |||||||||||||||
976,271 | 903,003 | ||||||||||||||||
Less: accumulated depreciation | (442,884 | ) | (376,089 | ) | |||||||||||||
$ | 533,387 | $ | 526,914 | ||||||||||||||
3 | The Company's mortgage loan agreement with International Finance Corporation ("IFC") is collateralized by certain manufacturing equipment with a net book value of $145.9 million and $152.9 million as of December 29, 2013 and December 30, 2012, respectively. The Company also provided security for advance payments received from a third-party supplier in the form of collateralized manufacturing equipment with a net book value of $16.5 million as of December 30, 2012. | ||||||||||||||||
4 | Includes $52.6 million of solar power systems associated with sale-leaseback transactions under the financing method as of December 29, 2013 (see Note 5). | ||||||||||||||||
Schedule of Disclosure on Geographic Areas, Long-Lived Assets in Individual Foreign Countries by Country [Table Text Block] | ' | ||||||||||||||||
Property, plant and equipment, net by geography5: | |||||||||||||||||
Philippines | $ | 321,410 | $ | 367,708 | |||||||||||||
United States | 153,074 | 95,715 | |||||||||||||||
Mexico | 32,705 | 32,409 | |||||||||||||||
Europe | 25,293 | 29,292 | |||||||||||||||
Other | 905 | 1,790 | |||||||||||||||
$ | 533,387 | $ | 526,914 | ||||||||||||||
5 | Property, plant and equipment, net are based on the physical location of the assets. | ||||||||||||||||
Schedule of Other Assets, Noncurrent [Table Text Block] | ' | ||||||||||||||||
Other long-term assets: | |||||||||||||||||
Equity method investments | $ | 131,739 | $ | 111,516 | |||||||||||||
Retainage6 | 88,934 | — | |||||||||||||||
Cost method investments | 12,374 | 14,918 | |||||||||||||||
Long-term debt issuance costs | 10,274 | 38,185 | |||||||||||||||
Bond hedge derivative | — | 2,327 | |||||||||||||||
Other | 55,156 | 42,119 | |||||||||||||||
$ | 298,477 | $ | 209,065 | ||||||||||||||
6 | Retainage refers to the earned, but unbilled, portion of a construction and development project which is withheld for payment by the customer until certain milestones are met in accordance with the related contract. The Company's noncurrent retainage is expected to be collected in 2015 through 2016. | ||||||||||||||||
Schedule of Accrued Liabilities [Table Text Block] | ' | ||||||||||||||||
As of | |||||||||||||||||
(In thousands) | 2013 | 2012 | |||||||||||||||
Accrued liabilities: | |||||||||||||||||
Bond hedge derivatives | $ | 110,477 | $ | — | |||||||||||||
Employee compensation and employee benefits | 50,449 | 40,750 | |||||||||||||||
Deferred revenue | 29,287 | 32,507 | |||||||||||||||
Short-term residential lease financing | 14,436 | 25,153 | |||||||||||||||
Interest payable | 10,971 | 9,672 | |||||||||||||||
Short-term warranty reserves | 10,426 | 9,054 | |||||||||||||||
Restructuring reserve | 7,134 | 29,477 | |||||||||||||||
VAT payables | 7,089 | 2,049 | |||||||||||||||
Foreign currency derivatives | 6,170 | 4,891 | |||||||||||||||
Other | 111,718 | 93,819 | |||||||||||||||
$ | 358,157 | $ | 247,372 | ||||||||||||||
Other Noncurrent Liabilities [Table Text Block] | ' | ||||||||||||||||
Other long-term liabilities: | |||||||||||||||||
Deferred revenue | $ | 176,925 | $ | 128,936 | |||||||||||||
Long-term warranty reserves | 138,946 | 107,803 | |||||||||||||||
Long-term sale-leaseback financing | 65,944 | — | |||||||||||||||
Long-term residential lease financing | 31,933 | 11,411 | |||||||||||||||
Unrecognized tax benefits | 28,927 | 35,022 | |||||||||||||||
Embedded conversion option derivatives | — | 2,327 | |||||||||||||||
Other | 81,316 | 50,120 | |||||||||||||||
$ | 523,991 | $ | 335,619 | ||||||||||||||
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block] | ' | ||||||||||||||||
Accumulated other comprehensive loss: | |||||||||||||||||
Cumulative translation adjustment | $ | (3,766 | ) | $ | (2,319 | ) | |||||||||||
Net unrealized loss on derivatives | (805 | ) | (243 | ) | |||||||||||||
Deferred taxes | 253 | 41 | |||||||||||||||
$ | (4,318 | ) | $ | (2,521 | ) |
Leasing_Tables
Leasing (Tables) | 12 Months Ended | |||||||||||||||||||||||
Dec. 29, 2013 | ||||||||||||||||||||||||
Leasing, Related Disclosures [Abstract] | ' | |||||||||||||||||||||||
Schedule of Property Subject to or Available for Operating Lease [Table Text Block] | ' | |||||||||||||||||||||||
The following table summarizes "Solar power systems leased and to be leased" under operating leases on the Company's Consolidated Balance Sheets as of December 29, 2013 and December 30, 2012, respectively: | ||||||||||||||||||||||||
As of | ||||||||||||||||||||||||
(In thousands) | 2013 | 2012 | ||||||||||||||||||||||
Solar power systems leased and to be leased, net1: | ||||||||||||||||||||||||
Solar power systems leased | $ | 324,202 | $ | 163,003 | ||||||||||||||||||||
Solar power systems to be leased | 36,645 | 89,423 | ||||||||||||||||||||||
360,847 | 252,426 | |||||||||||||||||||||||
Less: accumulated depreciation | (15,343 | ) | (4,431 | ) | ||||||||||||||||||||
$ | 345,504 | $ | 247,995 | |||||||||||||||||||||
1 | Solar power systems leased and to be leased, net are physically located in the United States. | |||||||||||||||||||||||
Minimum Future Rental Receipts on Operating Leases Placed in Service [Table Text Block] | ' | |||||||||||||||||||||||
The following table presents the Company's minimum future rental receipts on operating leases placed in service as of December 29, 2013: | ||||||||||||||||||||||||
(In thousands) | 2014 | 2015 | 2016 | 2017 | 2018 | Thereafter | Total | |||||||||||||||||
Minimum future rentals on operating leases placed in service1 | $ | 17,202 | 7,931 | 7,962 | 7,993 | 8,026 | 112,627 | $ | 161,741 | |||||||||||||||
1 | Minimum future rentals on operating leases placed in service does not include contingent rentals that may be received from customers under agreements which include performance based incentives. | |||||||||||||||||||||||
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block] | ' | |||||||||||||||||||||||
As of December 29, 2013 and December 30, 2012, the Company's net investment in sales-type leases presented in "Accounts receivable" and "Long-term financing receivables, net" on the Company's Consolidated Balance Sheets was as follows: | ||||||||||||||||||||||||
As of | ||||||||||||||||||||||||
(In thousands) | 2013 | 2012 | ||||||||||||||||||||||
Financing receivables: | ||||||||||||||||||||||||
Minimum lease payments receivable1 | $ | 217,666 | $ | 91,193 | ||||||||||||||||||||
Unguaranteed residual value | 23,366 | 8,862 | ||||||||||||||||||||||
Unearned income | (61,326 | ) | (27,779 | ) | ||||||||||||||||||||
Net financing receivables | $ | 179,706 | $ | 72,276 | ||||||||||||||||||||
Current | $ | 4,433 | $ | 4,534 | ||||||||||||||||||||
Long-term | $ | 175,273 | $ | 67,742 | ||||||||||||||||||||
1 | Net of allowance for doubtful accounts. | |||||||||||||||||||||||
Future Maturities of Net Financing Receivables for Sales-type Leases [Table Text Block] | ' | |||||||||||||||||||||||
As of December 29, 2013, future maturities of net financing receivables for sales-type leases are as follows: | ||||||||||||||||||||||||
(In thousands) | 2014 | 2015 | 2016 | 2017 | 2018 | Thereafter | Total | |||||||||||||||||
Scheduled maturities of minimum lease payments receivable1 | $ | 4,433 | 10,086 | 10,222 | 10,362 | 10,508 | 172,055 | $ | 217,666 | |||||||||||||||
1 | Minimum future rentals on sales-type leases placed in service does not include contingent rentals that may be received from customers under agreements which include performance based incentives. |
Fair_Value_Measurements_Tables
Fair Value Measurements (Tables) | 12 Months Ended | ||||||||||||||||||||||||
Dec. 29, 2013 | |||||||||||||||||||||||||
Fair Value Disclosures [Abstract] | ' | ||||||||||||||||||||||||
Fair Value, by Balance Sheet Grouping [Table Text Block] | ' | ||||||||||||||||||||||||
The following table summarizes the Company's assets and liabilities measured and recorded at fair value on a recurring basis as of December 29, 2013 and December 30, 2012, respectively: | |||||||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||||||
(In thousands) | Total | Level 1 | Level 2 | Total | Level 1 | Level 2 | |||||||||||||||||||
Assets | |||||||||||||||||||||||||
Cash and cash equivalents: | |||||||||||||||||||||||||
Money market funds1 | $ | 358,001 | $ | 358,001 | $ | — | $ | 117,254 | $ | 117,254 | $ | — | |||||||||||||
Prepaid expenses and other current assets: | |||||||||||||||||||||||||
Debt derivatives (Note 10) | 110,477 | — | 110,477 | — | — | — | |||||||||||||||||||
Foreign currency derivatives (Note 11) | 4,642 | — | 4,642 | 1,275 | — | 1,275 | |||||||||||||||||||
Other long-term assets: | |||||||||||||||||||||||||
Debt derivatives (Note 10) | — | — | — | 2,327 | — | 2,327 | |||||||||||||||||||
Foreign currency derivatives (Note 11) | 588 | — | 588 | — | — | — | |||||||||||||||||||
Total assets | $ | 473,708 | $ | 358,001 | $ | 115,707 | $ | 120,856 | $ | 117,254 | $ | 3,602 | |||||||||||||
Liabilities | |||||||||||||||||||||||||
Accrued liabilities: | |||||||||||||||||||||||||
Debt derivatives (Note 10) | $ | 110,477 | $ | — | $ | 110,477 | $ | — | $ | — | $ | — | |||||||||||||
Foreign currency derivatives (Note 11) | 6,170 | — | 6,170 | 4,891 | — | 4,891 | |||||||||||||||||||
Other long-term liabilities: | |||||||||||||||||||||||||
Debt derivatives (Note 10) | — | — | — | 2,327 | — | 2,327 | |||||||||||||||||||
Foreign currency derivatives (Note 11) | 555 | — | 555 | — | — | — | |||||||||||||||||||
Total liabilities | $ | 117,202 | $ | — | $ | 117,202 | $ | 7,218 | $ | — | $ | 7,218 | |||||||||||||
1 | The Company's cash equivalents consist of money market fund instruments which are classified as available-for-sale and within Level 1 of the fair value hierarchy because they are valued using quoted market prices for identical instruments in active markets. | ||||||||||||||||||||||||
Other financial instruments, including the Company's accounts receivable, accounts payable and accrued liabilities, are carried at cost, which generally approximates fair value due to the short-term nature of these instruments. | |||||||||||||||||||||||||
Fair Value, Measurement Inputs, Disclosure [Text Block] | ' | ||||||||||||||||||||||||
The fair values of these derivative instruments were determined utilizing the following Level 1 and Level 2 inputs: | |||||||||||||||||||||||||
As of | |||||||||||||||||||||||||
20131 | 20121 | ||||||||||||||||||||||||
Stock price | $ | 28.91 | $ | 5.49 | |||||||||||||||||||||
Exercise price | $ | 22.53 | $ | 22.53 | |||||||||||||||||||||
Interest rate | 0.33 | % | 0.4 | % | |||||||||||||||||||||
Stock volatility | 57.7 | % | 59.9 | % | |||||||||||||||||||||
Credit risk adjustment | 0.71 | % | 1.07 | % | |||||||||||||||||||||
Maturity date | 18-Feb-15 | 18-Feb-15 | |||||||||||||||||||||||
1 | The valuation model utilizes these inputs to value the right but not the obligation to purchase one share at $22.53. The Company utilized a Black-Scholes valuation model to value the 4.50% Bond Hedge and embedded cash conversion option. The underlying input assumptions were determined as follows: | ||||||||||||||||||||||||
(i) | Stock price. The closing price of the Company's common stock on the last trading day of the quarter. | ||||||||||||||||||||||||
(ii) | Exercise price. The exercise price of the 4.50% Bond Hedge and the embedded cash conversion option. | ||||||||||||||||||||||||
(iii) | Interest rate. The Treasury Strip rate associated with the life of the 4.50% Bond Hedge and the embedded cash conversion option. | ||||||||||||||||||||||||
(iv) | Stock volatility. The volatility of the Company's common stock over the life of the 4.50% Bond Hedge and the embedded cash conversion option. | ||||||||||||||||||||||||
(v) | Credit risk adjustment. Represents the weighted average of the credit default swap rate of the counterparties. | ||||||||||||||||||||||||
Schedule of Related Party Transactions [Table Text Block] | ' | ||||||||||||||||||||||||
Related Party Transactions with Total and its Affiliates: | |||||||||||||||||||||||||
Year Ended | |||||||||||||||||||||||||
(In thousands) | 2013 | 2012 | |||||||||||||||||||||||
Research and development expense: | |||||||||||||||||||||||||
Offsetting contributions received under R&D Agreement | $ | 1,661 | $ | — | |||||||||||||||||||||
Interest expense: | |||||||||||||||||||||||||
Guarantee fees incurred under Credit Support Agreement | $ | 8,890 | $ | 6,916 | |||||||||||||||||||||
Fees incurred under the Compensation and Funding Agreement | $ | 5,533 | $ | 4,952 | |||||||||||||||||||||
Interest expense incurred on the 0.75% Debentures Due 2018 | $ | 883 | $ | — | |||||||||||||||||||||
Related Party Transactions with Equity and Cost Method Investees: | |||||||||||||||||||||||||
As of | |||||||||||||||||||||||||
(In thousands) | 2013 | 2012 | |||||||||||||||||||||||
Accounts receivable | $ | 11,780 | $ | 23,713 | |||||||||||||||||||||
Accounts payable | 51,499 | 73,669 | |||||||||||||||||||||||
Other long-term assets: | |||||||||||||||||||||||||
Long-term note receivable | 3,688 | 1,040 | |||||||||||||||||||||||
Year Ended | |||||||||||||||||||||||||
(In thousands) | 2013 | 2012 | 2011 | ||||||||||||||||||||||
Payments made to investees for products/services | $ | 480,802 | $ | 606,301 | $ | 449,149 | |||||||||||||||||||
Restructuring_Tables
Restructuring (Tables) | 12 Months Ended | ||||||||||||||||
Dec. 29, 2013 | |||||||||||||||||
Restructuring and Related Activities [Abstract] | ' | ||||||||||||||||
Restructuring and Related Costs [Table Text Block] | ' | ||||||||||||||||
The following table summarizes the restructuring charges recognized in the Company's Consolidated Statements of Operations: | |||||||||||||||||
Year ended | Cumulative To Date | ||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||
October 2012 Plan: | |||||||||||||||||
Severance and benefits | $ | (776 | ) | $ | 29,053 | $ | — | $ | 28,277 | ||||||||
Lease and related termination costs | 30 | 714 | — | 744 | |||||||||||||
Other costs | 1,987 | 460 | — | 2,447 | |||||||||||||
1,241 | 30,227 | — | 31,468 | ||||||||||||||
Legacy Restructuring Plans: | |||||||||||||||||
Non-cash impairment charges | 443 | 60,153 | — | 60,596 | |||||||||||||
Severance and benefits | 241 | 1,345 | 18,491 | 20,077 | |||||||||||||
Lease and related termination costs | 580 | 3,518 | 688 | 4,786 | |||||||||||||
Other costs | 97 | 5,580 | 2,224 | 7,901 | |||||||||||||
1,361 | 70,596 | 21,403 | 93,360 | ||||||||||||||
Total restructuring charges | $ | 2,602 | $ | 100,823 | $ | 21,403 | $ | 124,828 | |||||||||
Schedule of Restructuring Reserve by Type of Cost [Table Text Block] | ' | ||||||||||||||||
The following table summarizes the restructuring reserve activity during the year ended December 29, 2013: | |||||||||||||||||
(In thousands) | 2012 | Charges (Benefits) | Payments | 2013 | |||||||||||||
October 2012 Plan: | |||||||||||||||||
Severance and benefits | $ | 24,439 | $ | (776 | ) | $ | (19,721 | ) | $ | 3,942 | |||||||
Lease and related termination costs | 714 | 30 | (382 | ) | 362 | ||||||||||||
Other costs1 | 358 | 1,987 | (1,431 | ) | 914 | ||||||||||||
Legacy Restructuring Plans: | |||||||||||||||||
Severance and benefits | 60 | 241 | (282 | ) | 19 | ||||||||||||
Lease and related termination costs | 2,436 | 580 | (1,769 | ) | 1,247 | ||||||||||||
Other costs1 | 1,470 | 97 | (917 | ) | 650 | ||||||||||||
Total restructuring liabilities | $ | 29,477 | $ | 2,159 | $ | (24,502 | ) | $ | 7,134 | ||||||||
1 | Other costs primarily represent associated legal services. |
Commitments_and_Contingencies_
Commitments and Contingencies (Tables) | 12 Months Ended | |||||||||||||||||||||||
Dec. 29, 2013 | ||||||||||||||||||||||||
Commitments and Contingencies Disclosures [Abstract] | ' | |||||||||||||||||||||||
Unrecorded Unconditional Purchase Obligations Disclosure [Table Text Block] | ' | |||||||||||||||||||||||
Future purchase obligations under non-cancellable purchase orders and long-term supply agreements as of December 29, 2013 are as follows: | ||||||||||||||||||||||||
(In thousands) | 2014 | 2015 | 2016 | 2017 | 2018 | Thereafter | Total1,2 | |||||||||||||||||
Future purchase obligations | $ | 819,732 | 374,393 | 337,092 | 300,468 | 181,553 | 335,542 | $ | 2,348,780 | |||||||||||||||
1 | Total future purchase obligations as of December 29, 2013 include $39.7 million to related parties. | |||||||||||||||||||||||
2 | Total future purchase obligations was comprised of $235.0 million related to non-cancellable purchase orders and $2.1 billion related to long-term supply agreements. | |||||||||||||||||||||||
Schedule Of Estimated Utilization Of Advances From Customers [Table Text Block] | ' | |||||||||||||||||||||||
The estimated utilization of advances from customers as of December 29, 2013 is as follows: | ||||||||||||||||||||||||
(In thousands) | 2014 | 2015 | 2016 | 2017 | 2018 | Thereafter | Total | |||||||||||||||||
Estimated utilization of advances from customers | $ | 36,883 | 18,387 | 22,713 | 27,039 | 27,039 | 72,104 | $ | 204,165 | |||||||||||||||
Schedule of Product Warranty Liability [Table Text Block] | ' | |||||||||||||||||||||||
The following table summarizes accrued warranty activity for fiscal 2013, 2012, and 2011, respectively: | ||||||||||||||||||||||||
Fiscal Year | ||||||||||||||||||||||||
(In thousands) | 2013 | 2012 | 2011 | |||||||||||||||||||||
Balance at the beginning of the period | $ | 117,172 | $ | 94,323 | $ | 63,562 | ||||||||||||||||||
Accruals for warranties issued during the period | 40,259 | 29,833 | 37,927 | |||||||||||||||||||||
Settlements made during the period | (8,059 | ) | (6,984 | ) | (7,166 | ) | ||||||||||||||||||
Balance at the end of the period | $ | 149,372 | $ | 117,172 | $ | 94,323 | ||||||||||||||||||
Debt_and_Credit_Sources_Tables
Debt and Credit Sources (Tables) | 12 Months Ended | ||||||||||||||||||||||||||||||||
Dec. 29, 2013 | |||||||||||||||||||||||||||||||||
Debt Instruments [Abstract] | ' | ||||||||||||||||||||||||||||||||
Schedule of Debt [Table Text Block] | ' | ||||||||||||||||||||||||||||||||
The following table summarizes the Company's outstanding debt on its Consolidated Balance Sheets: | |||||||||||||||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||||||||||||||
(In thousands) | Face Value | Short-term | Long-term | Total | Face Value | Short-term | Long-term | Total | |||||||||||||||||||||||||
Convertible debt: | |||||||||||||||||||||||||||||||||
0.75% debentures due 2018 | $ | 300,000 | $ | — | $ | 300,000 | $ | 300,000 | $ | — | $ | — | $ | — | $ | — | |||||||||||||||||
4.50% debentures due 20151 | 250,000 | 225,889 | — | 225,889 | 250,000 | — | 208,550 | 208,550 | |||||||||||||||||||||||||
4.75% debentures due 2014 | 230,000 | 230,000 | — | 230,000 | 230,000 | — | 230,000 | 230,000 | |||||||||||||||||||||||||
0.75% debentures due 2015 | 79 | — | 79 | 79 | 79 | — | 79 | 79 | |||||||||||||||||||||||||
IFC mortgage loan | 62,500 | 15,000 | 47,500 | 62,500 | 75,000 | 12,500 | 62,500 | 75,000 | |||||||||||||||||||||||||
CEDA loan | 30,000 | — | 30,000 | 30,000 | 30,000 | — | 30,000 | 30,000 | |||||||||||||||||||||||||
Credit Agricole revolving credit facility | — | — | — | — | 275,000 | — | 275,000 | 275,000 | |||||||||||||||||||||||||
Other debt2 | 50,926 | 41,227 | 9,699 | 50,926 | 1,368 | 134 | 1,234 | 1,368 | |||||||||||||||||||||||||
$ | 923,505 | $ | 512,116 | $ | 387,278 | $ | 899,394 | $ | 861,447 | $ | 12,634 | $ | 807,363 | $ | 819,997 | ||||||||||||||||||
1 | As of December 29, 2013, the 4.50% debentures due 2015 were classified as short-term debt on the Company's Consolidated Balance Sheets as the conversion right was met during the fourth quarter of fiscal 2013. | ||||||||||||||||||||||||||||||||
2 | The balance of Other debt excludes payments related to capital leases which are disclosed in Note 8. "Commitments and Contingencies" to these consolidated financial statements. | ||||||||||||||||||||||||||||||||
Schedule Of Maturities Of Debt [Table Text Block] | ' | ||||||||||||||||||||||||||||||||
As of December 29, 2013 the aggregate future contractual maturities of the Company's outstanding debt, at face value, was as follows: | |||||||||||||||||||||||||||||||||
(In thousands) | 2014 | 2015 | 2016 | 2017 | 2018 | Thereafter | Total | ||||||||||||||||||||||||||
Aggregate future maturities of outstanding debt | $ | 286,227 | 265,583 | 15,568 | 15,550 | 303,077 | 37,500 | $ | 923,505 | ||||||||||||||||||||||||
Schedule of Long-term Debt Instruments [Table Text Block] | ' | ||||||||||||||||||||||||||||||||
The following table summarizes the Company's outstanding convertible debt: | |||||||||||||||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||||||||||||||
(In thousands) | Carrying Value | Face Value | Fair Value3 | Carrying Value | Face Value | Fair Value3 | |||||||||||||||||||||||||||
Convertible debt: | |||||||||||||||||||||||||||||||||
0.75% debentures due 2018 | $ | 300,000 | $ | 300,000 | $ | 367,578 | $ | — | $ | — | $ | — | |||||||||||||||||||||
4.50% debentures due 20154 | 225,889 | 250,000 | 343,895 | 208,550 | 250,000 | 228,750 | |||||||||||||||||||||||||||
4.75% debentures due 2014 | 230,000 | 230,000 | 269,252 | 230,000 | 230,000 | 218,960 | |||||||||||||||||||||||||||
0.75% debentures due 2015 | 79 | 79 | 102 | 79 | 79 | 79 | |||||||||||||||||||||||||||
$ | 755,968 | $ | 780,079 | $ | 980,827 | $ | 438,629 | $ | 480,079 | $ | 447,789 | ||||||||||||||||||||||
3 | The fair value of the convertible debt was determined using Level 1 inputs based on quarterly market prices as reported by an independent pricing source. | ||||||||||||||||||||||||||||||||
4 | As of December 29, 2013, the 4.50% debentures due 2015 were classified as short-term debt on the Company's Consolidated Balance Sheets as the conversion right was met during the fourth quarter of fiscal 2013. |
Foreign_Currency_Derivatives_T
Foreign Currency Derivatives (Tables) | 12 Months Ended | ||||||||||||
Dec. 29, 2013 | |||||||||||||
Derivative Instruments and Hedging Activities Disclosures [Abstract] | ' | ||||||||||||
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value [Table Text Block] | ' | ||||||||||||
The following table presents information about the Company's hedge instruments measured at fair value on a recurring basis as of December 29, 2013 and December 30, 2012, all of which utilize Level 2 inputs under the fair value hierarchy: | |||||||||||||
(In thousands) | Balance Sheet Classification | 2013 | 2012 | ||||||||||
Assets | |||||||||||||
Derivatives designated as hedging instruments: | |||||||||||||
Foreign currency option contracts | Prepaid expenses and other current assets | $ | 615 | $ | 519 | ||||||||
Foreign currency forward exchange contracts | Prepaid expenses and other current assets | 35 | — | ||||||||||
Foreign currency option contracts | Other long-term assets | 588 | — | ||||||||||
$ | 1,238 | $ | 519 | ||||||||||
Derivatives not designated as hedging instruments: | |||||||||||||
Foreign currency option contracts | Prepaid expenses and other current assets | $ | 381 | $ | 25 | ||||||||
Foreign currency forward exchange contracts | Prepaid expenses and other current assets | 3,611 | 731 | ||||||||||
$ | 3,992 | $ | 756 | ||||||||||
Liabilities | |||||||||||||
Derivatives designated as hedging instruments: | |||||||||||||
Foreign currency option contracts | Accrued liabilities | $ | 1,595 | $ | 387 | ||||||||
Foreign currency forward exchange contracts | Accrued liabilities | — | 23 | ||||||||||
Foreign currency option contracts | Other long-term liabilities | 555 | — | ||||||||||
$ | 2,150 | $ | 410 | ||||||||||
Derivatives not designated as hedging instruments: | |||||||||||||
Foreign currency option contracts | Accrued liabilities | $ | 386 | $ | 26 | ||||||||
Foreign currency forward exchange contracts | Accrued liabilities | 4,189 | 4,455 | ||||||||||
$ | 4,575 | $ | 4,481 | ||||||||||
Schedule of Derivative Instruments, Effect on Other Comprehensive Income (Loss) [Table Text Block] | ' | ||||||||||||
The following table summarizes the pre-tax amount of unrealized gain or loss recognized in "Accumulated other comprehensive income" ("OCI") in "Stockholders' equity" in the Consolidated Balance Sheets: | |||||||||||||
Year ended | |||||||||||||
(In thousands) | 2013 | 2012 | 2011 | ||||||||||
Derivatives designated as cash flow hedges: | |||||||||||||
Gain (loss) in Accumulated OCI at the beginning of the period | $ | (243 | ) | $ | 10,473 | $ | 10,648 | ||||||
Unrealized gain (loss) recognized in OCI (effective portion) | (168 | ) | (1,720 | ) | (32,224 | ) | |||||||
Less: Loss (gain) reclassified from Accumulated OCI to revenue (effective portion) | (394 | ) | (8,996 | ) | 30,456 | ||||||||
Less: Loss reclassified from OCI to other, net | — | — | 1,593 | ||||||||||
Net loss on derivatives | $ | (562 | ) | $ | (10,716 | ) | $ | (175 | ) | ||||
Gain (loss) in Accumulated OCI at the end of the period | $ | (805 | ) | $ | (243 | ) | $ | 10,473 | |||||
Derivative Instruments, Gain (Loss) [Table Text Block] | ' | ||||||||||||
The following table summarizes the amount of gain or loss recognized in "Other, net" in the Consolidated Statements of Operations in the years ended December 29, 2013, December 30, 2012, and January 1, 2012: | |||||||||||||
Year ended | |||||||||||||
(In thousands) | 2013 | 2012 | 2011 | ||||||||||
Derivatives designated as cash flow hedges: | |||||||||||||
Loss recognized in "Other, net" on derivatives (ineffective portion and amount excluded from effectiveness testing) | $ | (3,029 | ) | $ | (1,853 | ) | $ | (18,235 | ) | ||||
Derivatives not designated as hedging instruments: | |||||||||||||
Gain (loss) recognized in "Other, net" | $ | (4,615 | ) | $ | 3,126 | $ | (3,972 | ) | |||||
Income_Taxes_Tables
Income Taxes (Tables) | 12 Months Ended | ||||||||||||
Dec. 29, 2013 | |||||||||||||
Income Tax Disclosure [Abstract] | ' | ||||||||||||
Schedule of Income before Income Tax and Components of Income Tax Expense (Benefit) [Table Text Block] | ' | ||||||||||||
The geographic distribution of income (loss) from continuing operations before income taxes and equity earnings of unconsolidated investees and the components of provision for income taxes are summarized below: | |||||||||||||
Year ended | |||||||||||||
(In thousands) | 2013 | 2012 | 2011 | ||||||||||
Geographic distribution of income (loss) from continuing operations before income taxes and equity in earnings of unconsolidated investees: | |||||||||||||
U.S. loss | $ | (32,022 | ) | $ | (140,432 | ) | $ | (431,185 | ) | ||||
Non-U.S. income (loss) | 73,605 | (189,231 | ) | (171,347 | ) | ||||||||
Income (loss) before income taxes and equity in earnings (loss) of unconsolidated investees | $ | 41,583 | $ | (329,663 | ) | $ | (602,532 | ) | |||||
Provision for income taxes: | |||||||||||||
Current tax benefit (expense) | |||||||||||||
Federal | $ | 5,068 | $ | — | $ | (3,105 | ) | ||||||
State | (2,414 | ) | (805 | ) | (317 | ) | |||||||
Foreign | (14,043 | ) | (28,183 | ) | (14,112 | ) | |||||||
Total current tax expense | $ | (11,389 | ) | $ | (28,988 | ) | $ | (17,534 | ) | ||||
Deferred tax benefit (expense) | |||||||||||||
Federal | $ | — | $ | — | $ | — | |||||||
State | — | — | — | ||||||||||
Foreign | (516 | ) | 7,146 | 326 | |||||||||
Total deferred tax benefit | (516 | ) | 7,146 | 326 | |||||||||
Provision for income taxes | $ | (11,905 | ) | $ | (21,842 | ) | $ | (17,208 | ) | ||||
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | ' | ||||||||||||
The provision for income taxes differs from the amounts obtained by applying the statutory U.S. federal tax rate to income before taxes as shown below: | |||||||||||||
Year ended | |||||||||||||
(In thousands) | 2013 | 2012 | 2011 | ||||||||||
Statutory rate | 35 | % | 35 | % | 35 | % | |||||||
Tax benefit (expense) at U.S. statutory rate | $ | (14,554 | ) | $ | 115,382 | $ | 210,886 | ||||||
Foreign rate differential | 9,324 | (82,017 | ) | (73,757 | ) | ||||||||
State income taxes, net of benefit | (2,414 | ) | (805 | ) | (317 | ) | |||||||
Goodwill impairment | — | (12,596 | ) | (52,247 | ) | ||||||||
Deemed foreign dividend | (2,511 | ) | — | — | |||||||||
Total investment related costs | — | — | (2,878 | ) | |||||||||
Tax credits (research and development/investment tax credit) | 15,599 | 939 | 4,409 | ||||||||||
Deferred taxes not benefitted | (22,942 | ) | (53,075 | ) | (99,703 | ) | |||||||
Lehman settlement | — | 17,726 | — | ||||||||||
Reserve releases | 10,550 | — | — | ||||||||||
Other, net | (4,957 | ) | (7,396 | ) | (3,601 | ) | |||||||
Total | $ | (11,905 | ) | $ | (21,842 | ) | $ | (17,208 | ) | ||||
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | ' | ||||||||||||
As of | |||||||||||||
(In thousands) | 2013 | 2012 | |||||||||||
Deferred tax assets: | |||||||||||||
Net operating loss carryforwards | $ | 84,815 | $ | 118,738 | |||||||||
Research and development credit and California manufacturing credit carryforwards | 26,865 | 11,372 | |||||||||||
Reserves and accruals | 145,382 | 114,125 | |||||||||||
Synthetic debt | 13,595 | 31,921 | |||||||||||
Stock-based compensation stock deductions | 14,752 | 13,147 | |||||||||||
Total deferred tax asset | 285,409 | 289,303 | |||||||||||
Valuation allowance | (90,571 | ) | (182,322 | ) | |||||||||
Total deferred tax asset, net of valuation allowance | 194,838 | 106,981 | |||||||||||
Deferred tax liabilities: | |||||||||||||
Foreign currency derivatives unrealized gains | 184 | 42 | |||||||||||
Other intangible assets and accruals | (44,959 | ) | (32,464 | ) | |||||||||
Fixed asset basis difference | (143,491 | ) | (67,473 | ) | |||||||||
Total deferred tax liabilities | (188,266 | ) | (99,895 | ) | |||||||||
Net deferred tax asset | $ | 6,572 | $ | 7,086 | |||||||||
Summary of Income Tax Contingencies [Table Text Block] | ' | ||||||||||||
A reconciliation of the beginning and ending amounts of unrecognized tax benefits during fiscal 2013, 2012, and 2011 is as follows: | |||||||||||||
Year ended | |||||||||||||
(In thousands) | 2013 | 2012 | 2011 | ||||||||||
Balance, beginning of year | $ | 62,932 | $ | 33,565 | $ | 23,649 | |||||||
Additions for tax positions related to the current year | 2,053 | 708 | 2,535 | ||||||||||
Additions (reductions) for tax positions from prior years | (24,535 | ) | 32,493 | 7,381 | |||||||||
Reductions for tax positions from prior years/statute of limitations expirations | (12,431 | ) | (2,684 | ) | — | ||||||||
Foreign exchange (gain) loss | 1,599 | (1,150 | ) | — | |||||||||
Balance at the end of the period | $ | 29,618 | $ | 62,932 | $ | 33,565 | |||||||
Summary of Income Tax Examinations [Table Text Block] | ' | ||||||||||||
The following table summarizes the Company’s major tax jurisdictions and the tax years that remain subject to examination by these jurisdictions as of December 29, 2013: | |||||||||||||
Tax Jurisdictions | Tax Years | ||||||||||||
United States | 2010 and onward | ||||||||||||
California | 2005 and onward | ||||||||||||
Switzerland | 2010 and onward | ||||||||||||
Philippines | 2007 and onward | ||||||||||||
France | 2011 and onward | ||||||||||||
Italy | 2009 and onward |
Common_Stock_Tables
Common Stock (Tables) | 12 Months Ended | ||||||
Dec. 29, 2013 | |||||||
Equity [Abstract] | ' | ||||||
Schedule of Common Stock Reserved For Future Issuance [Table Text Block] | ' | ||||||
The Company had shares of common stock reserved for future issuance as follows: | |||||||
(In thousands) | 29-Dec-13 | 30-Dec-12 | |||||
Equity compensation plans | 3,963 | 3,566 | |||||
Net_Income_Loss_Per_Share_of_C1
Net Income (Loss) Per Share of Common Stock (Tables) | 12 Months Ended | ||||||||||||
Dec. 29, 2013 | |||||||||||||
Earnings Per Share [Abstract] | ' | ||||||||||||
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | ' | ||||||||||||
The following table presents the calculation of basic and diluted net income (loss) per share: | |||||||||||||
Year ended | |||||||||||||
(In thousands, except per share amounts) | 2013 | 2012 | 2011 | ||||||||||
Basic net income (loss) per share: | |||||||||||||
Numerator | |||||||||||||
Net income (loss) attributable to stockholders | $ | 95,593 | $ | (352,020 | ) | $ | (613,737 | ) | |||||
Denominator | |||||||||||||
Basic weighted-average common shares | 120,819 | 117,093 | 97,724 | ||||||||||
Basic net income (loss) per share | $ | 0.79 | $ | (3.01 | ) | $ | (6.28 | ) | |||||
Diluted net income (loss) per share: | |||||||||||||
Numerator | |||||||||||||
Net income (loss) attributable to stockholders | $ | 95,593 | $ | (352,020 | ) | $ | (613,737 | ) | |||||
Add: Interest expense incurred on the 0.75% debentures due 2018, net of tax | 1,295 | — | — | ||||||||||
Net income (loss) available to common stockholders | $ | 96,888 | $ | (352,020 | ) | $ | (613,737 | ) | |||||
Denominator | |||||||||||||
Basic weighted-average common shares | 120,819 | 117,093 | 97,724 | ||||||||||
Effect of dilutive securities: | |||||||||||||
Stock options | 109 | — | — | ||||||||||
Restricted stock units | 5,010 | — | — | ||||||||||
Upfront Warrants (held by Total) | 5,090 | — | — | ||||||||||
Warrants (under the CSO2015) | 590 | — | — | ||||||||||
Warrants (under the CSO2014) | 292 | — | — | ||||||||||
0.75% debentures due 2018 | 7,070 | — | — | ||||||||||
Dilutive weighted-average common shares | 138,980 | 117,093 | 97,724 | ||||||||||
Dilutive net income (loss) per share | $ | 0.7 | $ | (3.01 | ) | $ | (6.28 | ) | |||||
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share [Table Text Block] | ' | ||||||||||||
The following is a summary of outstanding anti-dilutive potential common stock which was excluded from income (loss) per diluted share in the following periods: | |||||||||||||
Year ended | |||||||||||||
(In thousands) | 2013 | 20121 | 20111 | ||||||||||
Stock options | 194 | 363 | 425 | ||||||||||
Restricted stock units | 1,600 | 6,287 | 1,943 | ||||||||||
Upfront Warrants (held by Total) | — | * | n/a | ||||||||||
Warrants (under the CSO2015) | — | * | * | ||||||||||
Warrants (under the CSO2014) | — | * | * | ||||||||||
0.75% debentures due 2018 | — | n/a | n/a | ||||||||||
4.75% debentures due 2014 | 8,712 | 8,712 | 8,712 | ||||||||||
1 | As a result of the net loss per share for fiscal 2012 and 2011, the inclusion of all potentially dilutive stock options, restricted stock units, and common shares under noted warrants and convertible debt would be anti-dilutive. Therefore, those stock options, restricted stock units and shares were excluded from the computation of the weighted-average shares for diluted net loss per share for such period. | ||||||||||||
* The Company's average stock price during the period did not exceed the exercise price of the related warrants during the period. |
StockBack_Compensation_Tables
Stock-Back Compensation (Tables) | 12 Months Ended | |||||||||||||
Dec. 29, 2013 | ||||||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ' | |||||||||||||
Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Table Text Block] | ' | |||||||||||||
The following table summarizes the consolidated stock-based compensation expense by line item in the Consolidated Statements of Operations: | ||||||||||||||
Year ended | ||||||||||||||
(In thousands) | 2013 | 2012 | 2011 | |||||||||||
Cost of Americas revenue | $ | 5,150 | $ | 6,181 | $ | 5,974 | ||||||||
Cost of EMEA revenue | 2,660 | 3,851 | 6,183 | |||||||||||
Cost of APAC revenue | 3,006 | 1,578 | 1,030 | |||||||||||
Research and development | 5,414 | 5,005 | 6,166 | |||||||||||
Sales, general and administrative | 29,448 | 25,824 | 25,772 | |||||||||||
Restructuring charges | — | — | 1,611 | |||||||||||
Total stock-based compensation expense | $ | 45,678 | $ | 42,439 | $ | 46,736 | ||||||||
Schedule of Compensation Cost for Share-based Payment Arrangements, Allocation of Share-based Compensation Costs by Plan [Table Text Block] | ' | |||||||||||||
The following table summarizes the consolidated stock-based compensation expense by type of awards: | ||||||||||||||
Year ended | ||||||||||||||
(In thousands) | 2013 | 2012 | 2011 | |||||||||||
Employee stock options | $ | — | $ | 649 | $ | 1,658 | ||||||||
Restricted stock units | 46,215 | 40,996 | 45,223 | |||||||||||
Change in stock-based compensation capitalized in inventory | (537 | ) | 794 | (145 | ) | |||||||||
Total stock-based compensation expense | $ | 45,678 | $ | 42,439 | $ | 46,736 | ||||||||
Schedule Of Nonvested Share Activity [Table Text Block] | ' | |||||||||||||
The following table summarizes the Company’s non-vested restricted stock activities: | ||||||||||||||
Restricted Stock Units | ||||||||||||||
Shares | Weighted-Average | |||||||||||||
(in thousands) | Grant Date Fair | |||||||||||||
Value Per Share1 | ||||||||||||||
Outstanding as of January 2, 2011 | 6,112 | $ | 18.36 | |||||||||||
Granted | 5,349 | 11.79 | ||||||||||||
Vested2 | (2,255 | ) | 22.32 | |||||||||||
Forfeited | (1,836 | ) | 14.86 | |||||||||||
Outstanding as of January 1, 2012 | 7,370 | 13.25 | ||||||||||||
Granted | 5,638 | 5.93 | ||||||||||||
Vested2 | (2,844 | ) | 13.94 | |||||||||||
Forfeited | (1,588 | ) | 11.52 | |||||||||||
Outstanding as of December 30, 2012 | 8,576 | 8.53 | ||||||||||||
Granted | 5,607 | 15.88 | ||||||||||||
Vested2 | (3,583 | ) | 9.48 | |||||||||||
Forfeited | (1,008 | ) | 10.1 | |||||||||||
Outstanding as of December 29, 2013 | 9,592 | $ | 12.26 | |||||||||||
1 | The Company estimates the fair value of its restricted stock awards and units at its stock price on the grant date. | |||||||||||||
2 | Restricted stock awards and units vested include shares withheld on behalf of employees to satisfy the minimum statutory tax withholding requirements. | |||||||||||||
Schedule of Share-based Compensation, Stock Options, Outstanding [Table Text Block] | ' | |||||||||||||
The following table summarizes the Company’s outstanding options as of December 29, 2013: | ||||||||||||||
Outstanding Stock Options | ||||||||||||||
Shares | Weighted-Average | Weighted-Average | Aggregate | |||||||||||
(in thousands)1 | Exercise Price | Remaining Contractual | Intrinsic Value | |||||||||||
Per Share | Term (in years) | (in thousands) | ||||||||||||
Outstanding and exercisable as of December 29, 2013 | 320 | $ | 30.87 | 2.78 | $ | 3,269 | ||||||||
Segment_Information_Tables
Segment Information (Tables) | 12 Months Ended | ||||||||||||
Dec. 29, 2013 | |||||||||||||
Segment Reporting [Abstract] | ' | ||||||||||||
Schedule of Segment Reporting Information, by Segment [Table Text Block] | ' | ||||||||||||
The following tables present information by segment, including revenue, cost of revenue, gross margin, and depreciation. Revenue is based on the destination of the shipments. | |||||||||||||
Year ended | |||||||||||||
(In thousands): | 2013 | 2012 | 2011 | ||||||||||
Revenue | |||||||||||||
Americas | $ | 1,676,472 | $ | 1,696,348 | $ | 1,266,347 | |||||||
EMEA | 450,659 | 489,484 | 924,337 | ||||||||||
APAC | 380,072 | 231,669 | 183,692 | ||||||||||
Total Revenue | 2,507,203 | 2,417,501 | 2,374,376 | ||||||||||
Cost of revenue | |||||||||||||
Americas | 1,299,701 | 1,415,417 | 1,131,771 | ||||||||||
EMEA | 419,416 | 559,993 | 868,330 | ||||||||||
APAC | 297,014 | 195,693 | 148,057 | ||||||||||
Total cost of revenue | 2,016,131 | 2,171,103 | 2,148,158 | ||||||||||
Gross margin | $ | 491,072 | $ | 246,398 | $ | 226,218 | |||||||
Year ended | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Revenue by region (in thousands): | |||||||||||||
Americas (as reviewed by CODM) | $ | 1,772,260 | $ | 1,901,159 | $ | 1,452,770 | |||||||
Utility and power plant projects | (95,788 | ) | (204,811 | ) | (186,423 | ) | |||||||
Americas | $ | 1,676,472 | $ | 1,696,348 | $ | 1,266,347 | |||||||
EMEA (as reviewed by CODM) | $ | 450,659 | $ | 489,291 | $ | 923,688 | |||||||
Other | — | 193 | 649 | ||||||||||
EMEA | $ | 450,659 | $ | 489,484 | $ | 924,337 | |||||||
APAC (as reviewed by CODM) | $ | 379,400 | $ | 231,669 | $ | 183,692 | |||||||
Other | 672 | — | — | ||||||||||
APAC | $ | 380,072 | $ | 231,669 | $ | 183,692 | |||||||
Cost of revenue by region (in thousands): | |||||||||||||
Americas (as reviewed by CODM) | $ | 1,336,445 | $ | 1,486,554 | $ | 1,250,471 | |||||||
Utility and power plant projects | (18,450 | ) | (97,648 | ) | (147,037 | ) | |||||||
Stock-based compensation expense | 5,150 | 6,181 | 5,974 | ||||||||||
Non-cash interest expense | 1,203 | 1,024 | 1,194 | ||||||||||
Gain on contract termination | (25,604 | ) | — | — | |||||||||
Other | 957 | 19,306 | 21,169 | ||||||||||
Americas | $ | 1,299,701 | $ | 1,415,417 | $ | 1,131,771 | |||||||
EMEA (as reviewed by CODM) | $ | 425,470 | $ | 543,823 | $ | 827,858 | |||||||
Stock-based compensation expense | 2,660 | 3,851 | 6,183 | ||||||||||
Non-cash interest expense | 495 | 526 | 1,148 | ||||||||||
Gain on contract termination | (9,395 | ) | — | — | |||||||||
Other | 186 | 11,793 | 33,141 | ||||||||||
EMEA | $ | 419,416 | $ | 559,993 | $ | 868,330 | |||||||
APAC (as reviewed by CODM) | $ | 310,025 | $ | 187,748 | $ | 144,138 | |||||||
Stock-based compensation expense | 3,006 | 1,578 | 1,030 | ||||||||||
Non-cash interest expense | 713 | 292 | 222 | ||||||||||
Gain on contract termination | (16,988 | ) | — | — | |||||||||
Other | 258 | 6,075 | 2,667 | ||||||||||
APAC | $ | 297,014 | $ | 195,693 | $ | 148,057 | |||||||
Gross margin by region: | |||||||||||||
Americas (as reviewed by CODM) | 25 | % | 22 | % | 14 | % | |||||||
EMEA (as reviewed by CODM) | 6 | % | (11 | )% | 10 | % | |||||||
APAC (as reviewed by CODM) | 18 | % | 19 | % | 22 | % | |||||||
Americas | 22 | % | 17 | % | 11 | % | |||||||
EMEA | 7 | % | (14 | )% | 6 | % | |||||||
APAC | 22 | % | 16 | % | 19 | % | |||||||
Year ended | |||||||||||||
Depreciation by region (in thousands): | 2013 | 2012 | 2011 | ||||||||||
Americas | $ | 46,843 | $ | 59,120 | $ | 50,352 | |||||||
EMEA | 22,380 | 33,047 | 47,896 | ||||||||||
APAC | 28,223 | 16,489 | 8,852 | ||||||||||
Schedule of Revenue by Major Customers by Reporting Segments [Table Text Block] | ' | ||||||||||||
Year ended | |||||||||||||
(As a percentage of total revenue): | 2013 | 2012 | 2011 | ||||||||||
Significant Customers: | Business Segment | ||||||||||||
MidAmerican Energy Holdings Company | Americas | 25 | % | * | * | ||||||||
NRG Solar, Inc. | Americas | 17 | % | 35 | % | * | |||||||
* denotes less than 10% during the period | |||||||||||||
Revenue from External Customers by Products and Services [Table Text Block] | ' | ||||||||||||
Year ended | |||||||||||||
Revenue by Significant Category (in thousands): | 2013 | 2012 | 2011 | ||||||||||
Solar power products | $ | 917,960 | $ | 985,436 | $ | 1,349,023 | |||||||
Solar power systems1 | 1,399,972 | 1,318,269 | 1,010,572 | ||||||||||
Residential leases | 137,054 | 68,914 | 3,045 | ||||||||||
Other revenue2 | 52,217 | 44,882 | 11,736 | ||||||||||
$ | 2,507,203 | $ | 2,417,501 | $ | 2,374,376 | ||||||||
1 | Solar power systems represents revenue recognized in connection with our construction and development contracts. | ||||||||||||
2 | Other revenue includes revenue related to our solar power services and solutions, such as post-installation systems monitoring and maintenance in connection with construction contracts, and commercial PPA agreements. |
The_Company_and_Summary_of_Sig3
The Company and Summary of Significant Accounting Policies (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 29, 2013 | Dec. 30, 2012 | Jan. 01, 2012 |
Advertising Expense | $11.80 | $9.20 | $3.90 |
Number of Weeks Fiscal Year | '52 | '52 | '52 |
The_Company_and_Summary_of_Sig4
The Company and Summary of Significant Accounting Policies Property, Plant & Equipment, Estimated Useful Life (Details) | 12 Months Ended |
Dec. 29, 2013 | |
Building [Member] | Maximum [Member] | ' |
Property, Plant and Equipment [Line Items] | ' |
Property, Plant and Equipment, Useful Life | '20 years |
Leasehold Improvements [Member] | Maximum [Member] | ' |
Property, Plant and Equipment [Line Items] | ' |
Property, Plant and Equipment, Useful Life | '20 years |
Leasehold Improvements [Member] | Minimum [Member] | ' |
Property, Plant and Equipment [Line Items] | ' |
Property, Plant and Equipment, Useful Life | '1 year |
Machinery and Equipment [Member] | Maximum [Member] | ' |
Property, Plant and Equipment [Line Items] | ' |
Property, Plant and Equipment, Useful Life | '15 years |
Machinery and Equipment [Member] | Minimum [Member] | ' |
Property, Plant and Equipment [Line Items] | ' |
Property, Plant and Equipment, Useful Life | '8 years |
Computer Equipment [Member] | Maximum [Member] | ' |
Property, Plant and Equipment [Line Items] | ' |
Property, Plant and Equipment, Useful Life | '7 years |
Computer Equipment [Member] | Minimum [Member] | ' |
Property, Plant and Equipment [Line Items] | ' |
Property, Plant and Equipment, Useful Life | '2 years |
Solar Power Systems [Member] | Maximum [Member] | ' |
Property, Plant and Equipment [Line Items] | ' |
Property, Plant and Equipment, Useful Life | '30 years |
Furniture and Fixtures [Member] | Maximum [Member] | ' |
Property, Plant and Equipment [Line Items] | ' |
Property, Plant and Equipment, Useful Life | '5 years |
Furniture and Fixtures [Member] | Minimum [Member] | ' |
Property, Plant and Equipment [Line Items] | ' |
Property, Plant and Equipment, Useful Life | '3 years |
The_Company_and_Summary_of_Sig5
The Company and Summary of Significant Accounting Policies Concetration of Credit Risk (Details) | 12 Months Ended | |
Dec. 29, 2013 | Dec. 30, 2012 | |
Accounts Receivable [Member] | ' | ' |
Concentration Risk [Line Items] | ' | ' |
Concentration Risk, Percentage | 31.00% | 14.00% |
Costs and Estimated Earnings in Excess of Billings [Member] | ' | ' |
Concentration Risk [Line Items] | ' | ' |
Concentration Risk, Percentage | 34.00% | 24.00% |
Transactions_with_Total_and_To2
Transactions with Total and Total S.A. (Details) (USD $) | 12 Months Ended | |||
Dec. 29, 2013 | Dec. 30, 2012 | Jan. 01, 2012 | Jun. 13, 2011 | |
Transactions with Total [Line Items] | ' | ' | ' | ' |
Offsetting contributions received under R&D Agreement | $1,661,000 | $0 | ' | ' |
Tender Offer Agreement Date | 28-Apr-11 | ' | ' | ' |
Tender Offer Agreement, Percentage of Outstanding Share Acquired | 60.00% | ' | ' | ' |
Tender Offer Agreement Purchase Price Per Share | 23.25 | ' | ' | ' |
Tender Offer Agreement, Expiration Date | 14-Jun-11 | ' | ' | ' |
Tender Offer Agreement, Payment Date | 21-Jun-11 | ' | ' | ' |
Tender Offer Agreement Outstanding Shares Calculation Date | ' | ' | ' | 'June 13, 2011 |
Tender Offer, Actual Tendered Shares, Total Costs | 1,400,000,000 | ' | ' | ' |
Stock Purchase Agreement with Total, Date | 23-Dec-11 | ' | ' | ' |
Business Acquisition, Transaction Costs | ' | ' | 165,400,000 | ' |
Business Acquisition, Effective Date of Acquisition | ' | 31-Jan-12 | ' | ' |
Sale of Stock, Number of Shares Issued in Transaction | ' | 18,600,000 | ' | ' |
Sale of Stock, Price Per Share | ' | $8.80 | ' | ' |
Sale of Stock, Percentage of Ownership after Transaction | ' | 66.00% | ' | ' |
Guarantee fees incurred under Credit Support Agreement | 8,890,000 | 6,916,000 | ' | ' |
Fees incurred under the Compensation and Funding Agreement | 5,533,000 | 4,952,000 | ' | ' |
Interest expense incurred on the 0.75% Debentures Due 2018 | 883,000 | 0 | ' | ' |
Affiliation Agreement [Abstract] | ' | ' | ' | ' |
Liquidity Support Agreement, Incremental Available Capacity | 25,000,000 | ' | ' | ' |
Liquidity Support Facility, Upfront Warrant, Numerator For Warrant Shares Calculation | 75,000,000 | ' | ' | ' |
Liquidity Support Facility, Warrant Term | '7 years | ' | ' | ' |
Liquidity Support Facility, Warrant, Minimum Amount of Outstanding Convertible Debt Required to be Outstanding | 25,000,000 | ' | ' | ' |
Credit Support Agreement, Date | 28-Jun-11 | ' | ' | ' |
Liquidity Support Facility, Warrant, Maximum Ownership Percentage Allowed | 74.99% | ' | ' | ' |
Liquidity Support Facility, Maximum Capacity | 600,000,000 | ' | ' | ' |
Liquidity Support Facility, Unrestricted Cash, Cash Equivalents and Unused Borrowing Capacity, Threshold for Liquidity Support | 100,000,000 | ' | ' | ' |
Face Value | 923,505,000 | 861,447,000 | ' | ' |
Liquidity Support Facility, Basis Spread LIBOR Rate | 5.00% | ' | ' | ' |
Liquidity Support Facility, Warrant Issued, Exercise Price Per Share | $7.87 | ' | ' | ' |
Liquidity Support Facility Time Period After Calendar Quarter For Required Cash Payments | '30 days | ' | ' | ' |
Liquidity Support Facility, Unused Capacity, Commitment Fee Percentage | 0.25% | ' | ' | ' |
0.75% debentures due 2018 [Abstract] | ' | ' | ' | ' |
0.75% debentures acquired by Total, Face Value | 200,000,000 | ' | ' | ' |
Common Class A [Member] | ' | ' | ' | ' |
Transactions with Total [Line Items] | ' | ' | ' | ' |
Tender Offer Agreement, Percentage of Outstanding Share Acquired | 60.00% | ' | ' | ' |
Tender Offer, Actual Tendered Shares - Class A stocks | 34,756,682 | ' | ' | ' |
Common Class B [Member] | ' | ' | ' | ' |
Transactions with Total [Line Items] | ' | ' | ' | ' |
Tender Offer Agreement, Percentage of Outstanding Share Acquired | 60.00% | ' | ' | ' |
Tender Offer, Actual Tendered Shares - Class A stocks | 25,220,000 | ' | ' | ' |
0.75% debentures due 2018 [Member] | ' | ' | ' | ' |
Affiliation Agreement [Abstract] | ' | ' | ' | ' |
Face Value | 300,000,000 | 0 | ' | ' |
0.75% debentures due 2018 [Abstract] | ' | ' | ' | ' |
Debt Instrument, Issuance Date | 29-May-13 | ' | ' | ' |
Credit Agricole [Member] | July 2013 Credit Agricole Syndicated Revolver [Member] | Line of Credit [Member] | ' | ' | ' | ' |
Affiliation Agreement [Abstract] | ' | ' | ' | ' |
Line of Credit Facility, Current Borrowing Capacity | $250,000,000 | ' | ' | ' |
Total [Member] | Total Liquidity Support Agreement [Member] | Liquidity Support [Member] | ' | ' | ' | ' |
Affiliation Agreement [Abstract] | ' | ' | ' | ' |
Line of Credit Facility, Initiation Date | 28-Feb-12 | ' | ' | ' |
Liquidity Support Facility, Guarantee Fee, Percent of Average Guaranteed Debt | 2.75% | ' | ' | ' |
Bond Hedge [Member] | 0.75% debentures due 2018 [Member] | ' | ' | ' | ' |
0.75% debentures due 2018 [Abstract] | ' | ' | ' | ' |
Exercise price | 24.95 | ' | ' | ' |
Goodwill_and_Other_Intangible_1
Goodwill and Other Intangible Assets (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 29, 2013 | Dec. 30, 2012 | Jan. 01, 2012 |
Goodwill and Other Intangible Assets [Abstract] | ' | ' | ' |
Goodwill, Impairment Loss | ' | $46.70 | ' |
Impairment of Intangible Assets (Excluding Goodwill) | ' | 12.8 | ' |
Intangible Assets, Net (Excluding Goodwill) | 0 | 0.7 | ' |
Amortization of Intangible Assets | $0.70 | $9.10 | $23.40 |
Balance_Sheet_Components_Detai
Balance Sheet Components (Details) (USD $) | 12 Months Ended | ||||
Dec. 29, 2013 | Dec. 30, 2012 | Jan. 01, 2012 | |||
Balance Sheet Components [Abstract] | ' | ' | ' | ||
Goodwill, Impairment Loss | ' | $46,700,000 | ' | ||
Accounts receivable, net: | ' | ' | ' | ||
Accounts receivable, gross | 389,152,000 | [1],[2] | 429,977,000 | [1],[2] | ' |
Allowance for doubtful accounts, beginning | 26,773,000 | 21,039,000 | ' | ||
Less: allowance for sales returns | -2,095,000 | -5,054,000 | -8,648,000 | ||
Accounts receivable, net | 360,594,000 | 398,150,000 | ' | ||
Inventory Disclosure [Abstract] | ' | ' | ' | ||
Raw materials | 51,905,000 | 95,227,000 | ' | ||
Work-in-process | 52,756,000 | 40,048,000 | ' | ||
Finished goods | 140,914,000 | 156,111,000 | ' | ||
Inventories | 245,575,000 | 291,386,000 | ' | ||
Prepaid Expense and Other Assets, Current [Abstract] | ' | ' | ' | ||
Deferred project costs | 275,389,000 | 305,980,000 | ' | ||
VAT receivables, current portion | 21,481,000 | 97,041,000 | ' | ||
Deferred costs for solar power systems to be leased | 23,429,000 | 31,419,000 | ' | ||
Other receivables | 112,062,000 | 104,640,000 | ' | ||
Other prepaid expenses | 28,629,000 | 25,230,000 | ' | ||
Other current assets | 70,161,000 | 47,468,000 | ' | ||
Prepaid expenses and other current assets | 646,270,000 | [3] | 613,053,000 | [3] | ' |
Project Assets [Abstract] | ' | ' | ' | ||
Project assets b plants | 64,564,000 | 61,862,000 | ' | ||
Project assets b land | 11,043,000 | 21,645,000 | ' | ||
Project assets - plants and land | 75,607,000 | 83,507,000 | ' | ||
Project assets - plants and land, current portion | 69,196,000 | 75,911,000 | ' | ||
Project assets - plants and land, net of current portion | 6,411,000 | 7,596,000 | ' | ||
Property, plant and equipment, net: | ' | ' | ' | ||
Manufacturing equipment | 538,616,000 | [4] | 531,289,000 | [4] | ' |
Land and buildings | 26,138,000 | 20,109,000 | ' | ||
Leasehold improvements | 229,846,000 | 221,378,000 | ' | ||
Solar power systems | 82,036,000 | [5] | 12,501,000 | [5] | ' |
Computer equipment | 79,519,000 | 75,438,000 | ' | ||
Furniture and fixtures | 8,392,000 | 8,178,000 | ' | ||
Construction-in-process | 11,724,000 | 34,110,000 | ' | ||
Property, plant and equipment, gross | 976,271,000 | 903,003,000 | ' | ||
Less: accumulated depreciation | -442,884,000 | -376,089,000 | ' | ||
Property, plant and equipment, net | 533,387,000 | 526,914,000 | ' | ||
Property, plant and equipment, net by geography5: | ' | ' | ' | ||
Philippines | 321,410,000 | 367,708,000 | ' | ||
United States | 153,074,000 | 95,715,000 | ' | ||
Mexico | 32,705,000 | 32,409,000 | ' | ||
Europe | 25,293,000 | 29,292,000 | ' | ||
Other | 905,000 | 1,790,000 | ' | ||
Property, plant and equipment, net | 533,387,000 | 526,914,000 | ' | ||
Other Assets, Noncurrent [Abstract] | ' | ' | ' | ||
Equity method investments | 131,739,000 | 111,516,000 | ' | ||
Retainage | 88,934,000 | [6] | 0 | [6] | ' |
Cost method investments | 12,374,000 | 14,918,000 | ' | ||
Long-term debt issuance costs | 10,274,000 | 38,185,000 | ' | ||
Other | 55,156,000 | 42,119,000 | ' | ||
Other long-term assets | 298,477,000 | [3] | 209,065,000 | [3] | ' |
Accrued Liabilities, Current [Abstract] | ' | ' | ' | ||
Employee compensation and employee benefits | 50,449,000 | 40,750,000 | ' | ||
Deferred revenue | 29,287,000 | 32,507,000 | ' | ||
Short-term residential lease financing | 14,436,000 | 25,153,000 | ' | ||
Interest payable | 10,971,000 | 9,672,000 | ' | ||
Short-term warranty reserves | 10,426,000 | 9,054,000 | ' | ||
Restructuring reserve | 7,134,000 | 29,477,000 | ' | ||
VAT payables | 7,089,000 | 2,049,000 | ' | ||
Other | 111,718,000 | 93,819,000 | ' | ||
Accrued liabilities | 358,157,000 | 247,372,000 | ' | ||
Other Liabilities, Noncurrent [Abstract] | ' | ' | ' | ||
Deferred revenue | 176,925,000 | 128,936,000 | ' | ||
Long-term warranty reserves | 138,946,000 | 107,803,000 | ' | ||
Long-term sale-leaseback financing | 65,944,000 | 0 | ' | ||
Long-term residential lease financing | 31,933,000 | 11,411,000 | ' | ||
Unrecognized tax benefits | 28,927,000 | 35,022,000 | ' | ||
Other | 81,316,000 | 50,120,000 | ' | ||
Other long-term liabilities | 523,991,000 | 335,619,000 | ' | ||
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] | ' | ' | ' | ||
Cumulative translation adjustment | -3,766,000 | -2,319,000 | ' | ||
Net unrealized loss on derivatives | -805,000 | -243,000 | 10,473,000 | ||
Deferred taxes | 253,000 | 41,000 | ' | ||
Accumulated other comprehensive loss | -4,318,000 | -2,521,000 | ' | ||
Allowance for Doubtful Accounts Receivable [Roll Forward] | ' | ' | ' | ||
Allowance for doubtful accounts, beginning | 26,773,000 | 21,039,000 | ' | ||
Provision for Doubtful Accounts | 8,258,000 | 8,898,000 | ' | ||
Allowance for Doubtful Accounts Receivable, Write-offs | -8,568,000 | -3,164,000 | ' | ||
Allowance for doubtful accounts, end | 26,463,000 | 26,773,000 | 21,039,000 | ||
Movement in Valuation Allowances and Reserves [Roll Forward] | ' | ' | ' | ||
Allowance for sales returns, beginning | 5,054,000 | 8,648,000 | ' | ||
Provision for Sales Returns | -2,959,000 | -3,594,000 | ' | ||
Deductions from allowance for sales returns | 0 | 0 | ' | ||
Allowance for sales returns, end | 2,095,000 | 5,054,000 | 8,648,000 | ||
Valuation Allowances and Reserves, Balance | 182,322,000 | 129,946,000 | 4,644,000 | ||
Valuation Allowances and Reserves, Charged to Cost and Expense | -91,751,000 | 52,376,000 | 125,302,000 | ||
Valuation Allowances and Reserves, Deductions | 0 | 0 | 0 | ||
Valuation Allowances and Reserves, Balance | $90,571,000 | $182,322,000 | $129,946,000 | ||
[1] | 1B Includes short-term financing receivables associated with solar power systems leased of $4.4 million and $4.5 million as of fiscal 2013 and 2012, respectively (see Note 5). | ||||
[2] | 2B Includes short-term retainage of $8.3 million and $71.1 million as of fiscal 2013 and fiscal 2012, respectively. Retainage refers to the earned, but unbilled, portion of a construction and development project which is withheld for payment by the customer until certain milestones are met in accordance with the related contract. | ||||
[3] | The Company has related party balances in connection with transactions made with Total and its affiliates as well as unconsolidated entities in which the Company has a direct equity investment. These related party balances are recorded within the "Prepaid expenses and other current assets," "Other long-term assets," "Accounts payable," "Customer advances, current portion," "Convertible debt, net of current portion," and "Customer advances, net of current portion" financial statement line items in the Consolidated Balance Sheets (see Note 2, Note 4, Note 8, Note 9, and Note 10). | ||||
[4] | 3B The Company's mortgage loan agreement with International Finance Corporation ("IFC") is collateralized by certain manufacturing equipment with a net book value of $145.9 million and $152.9 million as of DecemberB 29, 2013 and DecemberB 30, 2012, respectively. The Company also provided security for advance payments received from a third-party supplier in the form of collateralized manufacturing equipment with a net book value of $16.5 million as of DecemberB 30, 2012. | ||||
[5] | 4B Includes $52.6 million of solar power systems associated with sale-leaseback transactions under the financing method as of DecemberB 29, 2013 (see Note 5). | ||||
[6] | Retainage refers to the earned, but unbilled, portion of a construction and development project which is withheld for payment by the customer until certain milestones are met in accordance with the related contract. The Company's noncurrent retainage is expected to be collected in 2015 through 2016. |
Leasing_Details
Leasing (Details) (USD $) | 12 Months Ended | |||
Dec. 29, 2013 | Dec. 30, 2012 | |||
Solar power systems leased and to be leased [Abstract] | ' | ' | ||
Solar power systems leased, gross | $324,202,000 | $163,003,000 | ||
Solar power systems to be leased, gross | 36,645,000 | 89,423,000 | ||
Solar Power Systems Leased And To Be Leased, Gross | 360,847,000 | 252,426,000 | ||
Accumulated depreciation - residential lease | -15,343,000 | -4,431,000 | ||
Solar Power Systems Leased And To Be Leased, Net | 345,504,000 | 247,995,000 | ||
Operating Leases, Future Minimum Payments Receivable [Abstract] | ' | ' | ||
2014 | 17,202,000 | ' | ||
2015 | 7,931,000 | ' | ||
2016 | 7,962,000 | ' | ||
2017 | 7,993,000 | ' | ||
2018 | 8,026,000 | ' | ||
Thereafter | 112,627,000 | ' | ||
Operating Leases, Future Minimum Payments Receivable | 161,741,000 | ' | ||
Financing receivables: | ' | ' | ||
Financing Receivable, Gross | 217,666,000 | [1] | 91,193,000 | [1] |
Unguaranteed residual value | 23,366,000 | 8,862,000 | ||
Unearned Income | -61,326,000 | -27,779,000 | ||
Financing Receivable, Net | 179,706,000 | 72,276,000 | ||
Current | 4,433,000 | 4,534,000 | ||
Long-term | 175,273,000 | 67,742,000 | ||
Capital Leases, Future Minimum Payments Receivable, Fiscal Year Maturity [Abstract] | ' | ' | ||
2014 | 4,433,000 | ' | ||
2015 | 10,086,000 | ' | ||
2016 | 10,222,000 | ' | ||
2017 | 10,362,000 | ' | ||
2018 | 10,508,000 | ' | ||
Thereafter | 172,055,000 | ' | ||
Financing Receivable, Gross | 217,666,000 | [1] | 91,193,000 | [1] |
Third-Party Financing Arrangements [Abstract] | ' | ' | ||
Non-Recourse Debt | 46,400,000 | 36,600,000 | ||
Pledged Solar Assets, book value | 147,700,000 | 252,400,000 | ||
Sale-Leaseback [Abstract] | ' | ' | ||
Sale Leaseback, Minimum Lease Obligation (Integral Equipment) | 105,000,000 | ' | ||
Future Minimum Sublease Rentals, Sale Leaseback Transactions | 77,300,000 | ' | ||
Lease Term - Sale Leaseback (Non-integral Equipment) | '20 years | ' | ||
Lease Term - Sale Leaseback (Integral Equipment) | '20 years | ' | ||
Sale Leaseback, Minimum Lease Obligation (Non-Integral Equipment) | $63,800,000 | ' | ||
[1] | 1B Net of allowance for doubtful accounts. |
Fair_Value_Measurements_Detail
Fair Value Measurements (Details) (USD $) | 12 Months Ended | ||||
In Thousands, except Per Share data, unless otherwise specified | Dec. 29, 2013 | Dec. 30, 2012 | Jan. 01, 2012 | ||
Fair Value Disclosures [Abstract] | ' | ' | ' | ||
Restricted long-term marketable securities | $8,892 | $10,885 | ' | ||
Equity method investments | 131,739 | 111,516 | ' | ||
Cost method investments | 12,374 | 14,918 | ' | ||
Fair Value Inputs, Liabilities, Quantitative Information [Line Items] | ' | ' | ' | ||
Stock price | $28.91 | ' | ' | ||
Related Party Transactions [Abstract] | ' | ' | ' | ||
Accounts receivable | 11,780 | 23,713 | ' | ||
Accounts payable | 51,499 | 73,669 | ' | ||
Long-term note receivable | 3,688 | 1,040 | ' | ||
Payments made to investees for products/services | 480,802 | 606,301 | 449,149 | ||
4.5% Bond Hedge [Member] | ' | ' | ' | ||
Fair Value Inputs, Liabilities, Quantitative Information [Line Items] | ' | ' | ' | ||
Stock price | $28.91 | [1] | $5.49 | [1] | ' |
Exercise price | 22.53 | [1] | ' | ' | |
Interest rate | 0.33% | [1] | 0.40% | [1] | ' |
Stock Volatility | 57.70% | [1] | 59.90% | [1] | ' |
Credit Risk Adjustment | 0.71% | [1] | 1.07% | [1] | ' |
Maturity Date | 18-Feb-15 | [1] | 18-Feb-15 | [1] | ' |
Fair Value, Measurements, Recurring [Member] | ' | ' | ' | ||
Cash and cash equivalents: | ' | ' | ' | ||
Money market funds | 358,001 | [2] | 117,254 | [2] | ' |
Prepaid expenses and other current assets: | ' | ' | ' | ||
Debt derivatives (Note 10) | 110,477 | 0 | ' | ||
Foreign currency derivatives | 4,642 | 1,275 | ' | ||
Other long-term assets: | ' | ' | ' | ||
Debt derivatives (Note 10) | 0 | 2,327 | ' | ||
Derivative Asset, Noncurrent | 588 | 0 | ' | ||
Total assets | 473,708 | 120,856 | ' | ||
Accrued liabilities: | ' | ' | ' | ||
Bond hedge derivatives | 110,477 | 0 | ' | ||
Foreign currency derivatives | 6,170 | 4,891 | ' | ||
Other long-term liabilities: | ' | ' | ' | ||
Embedded conversion option derivatives | 0 | 2,327 | ' | ||
Foreign currency derivatives | 555 | 0 | ' | ||
Total liabilities | 117,202 | 7,218 | ' | ||
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ' | ' | ' | ||
Cash and cash equivalents: | ' | ' | ' | ||
Money market funds | 358,001 | [2] | 117,254 | [2] | ' |
Prepaid expenses and other current assets: | ' | ' | ' | ||
Debt derivatives (Note 10) | 0 | 0 | ' | ||
Foreign currency derivatives | 0 | 0 | ' | ||
Other long-term assets: | ' | ' | ' | ||
Debt derivatives (Note 10) | 0 | 0 | ' | ||
Derivative Asset, Noncurrent | 0 | 0 | ' | ||
Total assets | 358,001 | 117,254 | ' | ||
Accrued liabilities: | ' | ' | ' | ||
Bond hedge derivatives | 0 | 0 | ' | ||
Foreign currency derivatives | 0 | 0 | ' | ||
Other long-term liabilities: | ' | ' | ' | ||
Embedded conversion option derivatives | 0 | 0 | ' | ||
Foreign currency derivatives | 0 | 0 | ' | ||
Total liabilities | 0 | 0 | ' | ||
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ' | ' | ' | ||
Cash and cash equivalents: | ' | ' | ' | ||
Money market funds | 0 | [2] | 0 | [2] | ' |
Prepaid expenses and other current assets: | ' | ' | ' | ||
Debt derivatives (Note 10) | 110,477 | 0 | ' | ||
Foreign currency derivatives | 4,642 | 1,275 | ' | ||
Other long-term assets: | ' | ' | ' | ||
Debt derivatives (Note 10) | 0 | 2,327 | ' | ||
Derivative Asset, Noncurrent | 588 | 0 | ' | ||
Total assets | 115,707 | 3,602 | ' | ||
Accrued liabilities: | ' | ' | ' | ||
Bond hedge derivatives | 110,477 | 0 | ' | ||
Foreign currency derivatives | 6,170 | 4,891 | ' | ||
Other long-term liabilities: | ' | ' | ' | ||
Embedded conversion option derivatives | 0 | 2,327 | ' | ||
Foreign currency derivatives | 555 | 0 | ' | ||
Total liabilities | $117,202 | $7,218 | ' | ||
[1] | The valuation model utilizes these inputs to value the right but not the obligation to purchase one share at $22.53. The Company utilized a Black-Scholes valuation model to value the 4.50% Bond Hedge and embedded cash conversion option. The underlying input assumptions were determined as follows:(i)Stock price. The closing price of the Company's common stock on the last trading day of the quarter.(ii)Exercise price. The exercise price of the 4.50% Bond Hedge and the embedded cash conversion option.(iii)Interest rate. The Treasury Strip rate associated with the life of the 4.50% Bond Hedge and the embedded cash conversion option.(iv)Stock volatility. The volatility of the Company's common stock over the life of the 4.50% Bond Hedge and the embedded cash conversion option.(v)Credit risk adjustment. Represents the weighted average of the credit default swap rate of the counterparties. | ||||
[2] | 1B The Company's cash equivalents consist of money market fund instruments which are classified as available-for-sale and within Level 1 of the fair value hierarchy because they are valued using quoted market prices for identical instruments in active markets. |
Restructuring_Details
Restructuring (Details) (USD $) | 12 Months Ended | ||||
Dec. 29, 2013 | Dec. 30, 2012 | Jan. 01, 2012 | |||
Restructuring Cost and Reserve [Line Items] | ' | ' | ' | ||
Restructuring Charge, Net of Non-cash Impairment | $2,159,000 | ' | ' | ||
Restructuring Reserve [Roll Forward] | ' | ' | ' | ||
Restructuring Reserve, beginning | 29,477,000 | ' | ' | ||
Restructuring Charges | 2,602,000 | 100,823,000 | 21,403,000 | ||
Payments for Restructuring | -24,502,000 | ' | ' | ||
Restructuring Reserve, end | 7,134,000 | 29,477,000 | ' | ||
Restructuring Charges | -2,602,000 | -100,823,000 | -21,403,000 | ||
Restructuring and Related Cost, Expected Percentage of Costs to be Settled With Cash | 90.00% | ' | ' | ||
Restructuring Charges [Abstract] | ' | ' | ' | ||
Restructuring and Related Cost, Cost Incurred to Date | 124,828,000 | ' | ' | ||
October 2012 Restructuring Plan [Member] | ' | ' | ' | ||
Restructuring Reserve [Roll Forward] | ' | ' | ' | ||
Restructuring Charges | 1,241,000 | 30,227,000 | 0 | ||
Restructuring Charges | -1,241,000 | -30,227,000 | 0 | ||
Restructuring Charges [Abstract] | ' | ' | ' | ||
Restructuring and Related Cost, Cost Incurred to Date | 31,468,000 | ' | ' | ||
Restructuring and Related Activities, Initiation Date | 12-Oct-12 | ' | ' | ||
Restructuring and Related Cost, Number of Positions Eliminated | 900 | ' | ' | ||
Restructuring And Related Cost Number Of Positions Eliminated Percent Of Workforce | $0.15 | ' | ' | ||
Legacy Restructuring Plans [Member] | ' | ' | ' | ||
Restructuring Reserve [Roll Forward] | ' | ' | ' | ||
Restructuring Charges | 1,361,000 | 70,596,000 | 21,403,000 | ||
Restructuring Charges | -1,361,000 | -70,596,000 | -21,403,000 | ||
Restructuring Charges [Abstract] | ' | ' | ' | ||
Restructuring and Related Cost, Cost Incurred to Date | 93,360,000 | ' | ' | ||
Employee Severance [Member] | October 2012 Restructuring Plan [Member] | ' | ' | ' | ||
Restructuring Reserve [Roll Forward] | ' | ' | ' | ||
Restructuring Reserve, beginning | 24,439,000 | ' | ' | ||
Restructuring Charges | -776,000 | 29,053,000 | 0 | ||
Payments for Restructuring | -19,721,000 | ' | ' | ||
Restructuring Reserve, end | 3,942,000 | 24,439,000 | ' | ||
Restructuring Charges | 776,000 | -29,053,000 | 0 | ||
Restructuring Charges [Abstract] | ' | ' | ' | ||
Restructuring and Related Cost, Cost Incurred to Date | 28,277,000 | ' | ' | ||
Employee Severance [Member] | Legacy Restructuring Plans [Member] | ' | ' | ' | ||
Restructuring Reserve [Roll Forward] | ' | ' | ' | ||
Restructuring Reserve, beginning | 60,000 | ' | ' | ||
Restructuring Charges | 241,000 | 1,345,000 | 18,491,000 | ||
Payments for Restructuring | -282,000 | ' | ' | ||
Restructuring Reserve, end | 19,000 | 60,000 | ' | ||
Restructuring Charges | -241,000 | -1,345,000 | -18,491,000 | ||
Restructuring Charges [Abstract] | ' | ' | ' | ||
Restructuring and Related Cost, Cost Incurred to Date | 20,077,000 | ' | ' | ||
Facility Closing [Member] | October 2012 Restructuring Plan [Member] | ' | ' | ' | ||
Restructuring Reserve [Roll Forward] | ' | ' | ' | ||
Restructuring Reserve, beginning | 714,000 | ' | ' | ||
Restructuring Charges | 30,000 | 714,000 | 0 | ||
Payments for Restructuring | -382,000 | ' | ' | ||
Restructuring Reserve, end | 362,000 | 714,000 | ' | ||
Restructuring Charges | -30,000 | -714,000 | 0 | ||
Restructuring Charges [Abstract] | ' | ' | ' | ||
Restructuring and Related Cost, Cost Incurred to Date | 744,000 | ' | ' | ||
Facility Closing [Member] | Legacy Restructuring Plans [Member] | ' | ' | ' | ||
Restructuring Reserve [Roll Forward] | ' | ' | ' | ||
Restructuring Reserve, beginning | 2,436,000 | ' | ' | ||
Restructuring Charges | 580,000 | 3,518,000 | 688,000 | ||
Payments for Restructuring | -1,769,000 | ' | ' | ||
Restructuring Reserve, end | 1,247,000 | 2,436,000 | ' | ||
Restructuring Charges | -580,000 | -3,518,000 | -688,000 | ||
Restructuring Charges [Abstract] | ' | ' | ' | ||
Restructuring and Related Cost, Cost Incurred to Date | 4,786,000 | ' | ' | ||
Non-cash impairment charges [Member] | Legacy Restructuring Plans [Member] | ' | ' | ' | ||
Restructuring Reserve [Roll Forward] | ' | ' | ' | ||
Restructuring Charges | 443,000 | 60,153,000 | 0 | ||
Restructuring Charges | -443,000 | -60,153,000 | 0 | ||
Restructuring Charges [Abstract] | ' | ' | ' | ||
Restructuring and Related Cost, Cost Incurred to Date | 60,596,000 | ' | ' | ||
Other Restructuring [Member] | October 2012 Restructuring Plan [Member] | ' | ' | ' | ||
Restructuring Reserve [Roll Forward] | ' | ' | ' | ||
Restructuring Reserve, beginning | 358,000 | [1] | ' | ' | |
Restructuring Charges | 1,987,000 | [1] | 460,000 | 0 | |
Payments for Restructuring | -1,431,000 | [1] | ' | ' | |
Restructuring Reserve, end | 914,000 | [1] | 358,000 | [1] | ' |
Restructuring Charges | -1,987,000 | [1] | -460,000 | 0 | |
Restructuring Charges [Abstract] | ' | ' | ' | ||
Restructuring and Related Cost, Cost Incurred to Date | 2,447,000 | ' | ' | ||
Other Restructuring [Member] | Legacy Restructuring Plans [Member] | ' | ' | ' | ||
Restructuring Reserve [Roll Forward] | ' | ' | ' | ||
Restructuring Reserve, beginning | 1,470,000 | [1] | ' | ' | |
Restructuring Charges | 97,000 | [1] | 5,580,000 | 2,224,000 | |
Payments for Restructuring | -917,000 | [1] | ' | ' | |
Restructuring Reserve, end | 650,000 | [1] | 1,470,000 | [1] | ' |
Restructuring Charges | -97,000 | [1] | -5,580,000 | -2,224,000 | |
Restructuring Charges [Abstract] | ' | ' | ' | ||
Restructuring and Related Cost, Cost Incurred to Date | 7,901,000 | ' | ' | ||
Minimum [Member] | October 2012 Restructuring Plan [Member] | ' | ' | ' | ||
Restructuring Charges [Abstract] | ' | ' | ' | ||
Restructuring and Related Cost, Expected Cost | 30,000,000 | ' | ' | ||
Maximum [Member] | October 2012 Restructuring Plan [Member] | ' | ' | ' | ||
Restructuring Charges [Abstract] | ' | ' | ' | ||
Restructuring and Related Cost, Expected Cost | $35,000,000 | ' | ' | ||
[1] | 1B Other costs primarily represent associated legal services |
Commitments_and_Contingencies_1
Commitments and Contingencies (Details) (USD $) | 12 Months Ended | ||||
Dec. 29, 2013 | Dec. 30, 2012 | Jan. 01, 2012 | |||
Capital Lease Obligations [Abstract] | ' | ' | ' | ||
Capital Lease Obligations | $6,600,000 | ' | ' | ||
Leases, Operating [Abstract] | ' | ' | ' | ||
Operating Leases, Future Minimum Payments Due | 63,000,000 | ' | ' | ||
Purchase Obligation, Fiscal Year Maturity [Abstract] | ' | ' | ' | ||
2014 | 819,732,000 | ' | ' | ||
2015 | 374,393,000 | ' | ' | ||
2016 | 337,092,000 | ' | ' | ||
2017 | 300,468,000 | ' | ' | ||
2018 | 181,553,000 | ' | ' | ||
Thereafter | 335,542,000 | ' | ' | ||
Total | 2,348,780,000 | ' | ' | ||
Total obligations related to non-cancellable purchase orders | 235,000,000 | ' | ' | ||
Long-term Supply Agreements with Suppliers | 2,100,000,000 | ' | ' | ||
Purchase Commitments Supply And Price Period | '10 | ' | ' | ||
Commitments To Non-Consolidated Joint Ventures | 39,700,000 | ' | ' | ||
Advances to Suppliers [Abstract] | ' | ' | ' | ||
Advance payments made to Supplier | 81,200,000 | ' | ' | ||
Advances to Suppliers | 383,300,000 | 351,400,000 | ' | ||
Advances to suppliers, current portion | 58,619,000 | 50,282,000 | ' | ||
Advance To Suppliers Due Year One | 65,800,000 | ' | ' | ||
Advances From Customer, Maturity Profile [Abstract] | ' | ' | ' | ||
2014 | 36,883,000 | ' | ' | ||
2015 | 18,387,000 | ' | ' | ||
2016 | 22,713,000 | ' | ' | ||
2017 | 27,039,000 | ' | ' | ||
2018 | 72,104,000 | ' | ' | ||
Thereafter | 27,039,000 | ' | ' | ||
Total | 204,165,000 | ' | ' | ||
Related Party Transaction [Line Items] | ' | ' | ' | ||
Customer advances, current portion | 36,883,000 | [1] | 59,648,000 | [1] | ' |
Movement in Standard Product Warranty Accrual [Roll Forward] | ' | ' | ' | ||
Product Warranties, beginning | 117,172,000 | 94,323,000 | 63,562,000 | ||
Accruals of warranties issued during the period | 40,259,000 | 29,833,000 | 37,927,000 | ||
Settlements made during the period | -8,059,000 | -6,984,000 | -7,166,000 | ||
Product Warranties, end | 149,372,000 | 117,172,000 | 94,323,000 | ||
Loss Contingency [Abstract] | ' | ' | ' | ||
Product Liability Contingency, Accrual, Assumptions | '0 | ' | ' | ||
Future Financing Commitments [Line Items] | ' | ' | ' | ||
Unrecognized Tax Benefits Including Income Tax Penalties And Interest Accrued | 28,927,000 | 35,022,000 | ' | ||
Liabilities Associated with Uncertain Tax Positions [Abstract] | ' | ' | ' | ||
Unrecognized Tax Benefits | 29,618,000 | 62,932,000 | 33,565,000 | ||
AUOSP [Member] | ' | ' | ' | ||
Related Party Transaction [Line Items] | ' | ' | ' | ||
Customer Advances and Deposits | 181,300,000 | 190,100,000 | ' | ||
Customer advances, current portion | 14,000,000 | 8,800,000 | ' | ||
Future Financing Commitments [Line Items] | ' | ' | ' | ||
Future Financing Obligation, Year One | 243,900,000 | ' | ' | ||
Polysilicon Purchaser [Member] | ' | ' | ' | ||
Related Party Transaction [Line Items] | ' | ' | ' | ||
Customer Advances and Deposits | ' | 56,100,000 | ' | ||
Customer advances, current portion | ' | 8,100,000 | ' | ||
Letters of Credit Outstanding, Amount | ' | 32,000,000 | ' | ||
Collateralized Accounts Receivable | ' | 7,600,000 | ' | ||
Collateralized Equipment | ' | $16,500,000 | ' | ||
Supplier Concentration Risk [Member] | Supplier One [Member] | ' | ' | ' | ||
Concentration Risk [Line Items] | ' | ' | ' | ||
Concentration Risk, Percentage | 77.00% | 76.00% | ' | ||
Supplier Concentration Risk [Member] | Supplier Two [Member] | ' | ' | ' | ||
Concentration Risk [Line Items] | ' | ' | ' | ||
Concentration Risk, Percentage | 22.00% | 23.00% | ' | ||
[1] | The Company has related party balances in connection with transactions made with Total and its affiliates as well as unconsolidated entities in which the Company has a direct equity investment. These related party balances are recorded within the "Prepaid expenses and other current assets," "Other long-term assets," "Accounts payable," "Customer advances, current portion," "Convertible debt, net of current portion," and "Customer advances, net of current portion" financial statement line items in the Consolidated Balance Sheets (see Note 2, Note 4, Note 8, Note 9, and Note 10). |
Equity_Method_Investments_Deta
Equity Method Investments (Details) (USD $) | Dec. 29, 2013 | Dec. 30, 2012 | Jan. 01, 2012 | Dec. 29, 2013 | Dec. 29, 2013 | Dec. 30, 2012 | Dec. 29, 2013 | Jan. 01, 2012 | Dec. 29, 2013 |
Share data in Millions, unless otherwise specified | CCPV [Member] | Diamond Energy [Member] | Diamond Energy [Member] | AUOSP [Member] | Woongjin [Member] | Woongjin [Member] | |||
Schedule of Equity Method Investments [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Equity method investments | $131,739,000 | $111,516,000 | ' | ' | ' | ' | ' | ' | ' |
Equity Method Investment, Ownership Percentage | ' | ' | 31.00% | 25.00% | 24.90% | ' | 50.00% | 6.20% | 0.00% |
Payments to Acquire Equity Method Investments | ' | ' | ' | ' | ' | 3,000,000 | ' | ' | ' |
Long-term note receivable | 3,688,000 | 1,040,000 | ' | ' | 2,000,000 | ' | ' | ' | ' |
Interest rate on Long-Term Note Receivable | ' | ' | ' | ' | 1.00% | ' | ' | ' | ' |
Joint Venture Energy Output Committed To Purchase | ' | ' | ' | ' | ' | ' | 80.00% | ' | ' |
Future Financing Obligation, Year One | ' | ' | ' | ' | ' | ' | 241,000,000 | ' | ' |
Potential Additional Financing Obligation If Requested By Joint Venture | ' | ' | ' | ' | ' | ' | $50,000,000 | ' | ' |
Equity Method Investment Shares Sold | ' | ' | ' | ' | ' | ' | ' | 15.5 | ' |
Debt_and_Credit_Sources_Detail
Debt and Credit Sources (Details) (USD $) | 12 Months Ended | ||||
Dec. 29, 2013 | Dec. 30, 2012 | Jan. 01, 2012 | |||
Debt Instrument [Line Items] | ' | ' | ' | ||
Liquidity Support Agreement, Incremental Available Capacity | $25,000,000 | ' | ' | ||
Face Value | 923,505,000 | 861,447,000 | ' | ||
Short-term | 512,116,000 | 12,634,000 | ' | ||
Long-term | 387,278,000 | 807,363,000 | ' | ||
Long-term Debt, Fiscal Year Maturity [Abstract] | ' | ' | ' | ||
2014 | 286,227,000 | ' | ' | ||
2015 | 265,583,000 | ' | ' | ||
2016 | 15,568,000 | ' | ' | ||
2017 | 15,550,000 | ' | ' | ||
2018 | 303,077,000 | ' | ' | ||
Thereafter | 37,500,000 | ' | ' | ||
Face Value | 923,505,000 | 861,447,000 | ' | ||
Convertible Debt [Abstract] | ' | ' | ' | ||
Convertible Debt, Current | 455,889,000 | 0 | ' | ||
Convertible Debt, Noncurrent | 300,079,000 | [1] | 438,629,000 | [1] | ' |
Face Value | 923,505,000 | 861,447,000 | ' | ||
Own-share Lending Arrangement [Abstract] | ' | ' | ' | ||
Own-share Lending Arrangement, Shares, Issued | ' | ' | 1,800,000 | ||
Non-cash interest expense | 49,016,000 | 38,177,000 | 28,627,000 | ||
Carrying Value | 899,394,000 | 819,997,000 | ' | ||
0.75% debentures due 2018 [Member] | ' | ' | ' | ||
Debt Instrument [Line Items] | ' | ' | ' | ||
Face Value | 300,000,000 | 0 | ' | ||
Short-term | 0 | 0 | ' | ||
Long-term | 300,000,000 | 0 | ' | ||
Long-term Debt, Fiscal Year Maturity [Abstract] | ' | ' | ' | ||
Face Value | 300,000,000 | 0 | ' | ||
Convertible Debt [Abstract] | ' | ' | ' | ||
Convertible Debt, Noncurrent | 300,000,000 | 0 | ' | ||
Face Value | 300,000,000 | 0 | ' | ||
Fair Value | 367,578,000 | [2] | 0 | [2] | ' |
Own-share Lending Arrangement [Abstract] | ' | ' | ' | ||
Carrying Value | 300,000,000 | 0 | ' | ||
0.75% debentures due 2018 [Member] | Bond Hedge [Member] | ' | ' | ' | ||
Own-share Lending Arrangement [Abstract] | ' | ' | ' | ||
Exercise price | 24.95 | ' | ' | ||
0.75% debentures due 2018 [Member] | Bond Hedge [Member] | Maximum [Member] | ' | ' | ' | ||
Own-share Lending Arrangement [Abstract] | ' | ' | ' | ||
Option Indexed to Issuer's Equity, Indexed Shares | 15,633,957 | ' | ' | ||
4.50% debentures due 2015 [Member] | ' | ' | ' | ||
Debt Instrument [Line Items] | ' | ' | ' | ||
Face Value | 250,000,000 | [3],[4] | 250,000,000 | [3],[4] | ' |
Short-term | 225,889,000 | [3] | 0 | [3] | ' |
Long-term | 0 | [3] | 208,550,000 | [3] | ' |
Long-term Debt, Fiscal Year Maturity [Abstract] | ' | ' | ' | ||
Face Value | 250,000,000 | [3],[4] | 250,000,000 | [3],[4] | ' |
Convertible Debt [Abstract] | ' | ' | ' | ||
Convertible Debt, Current | 225,889,000 | [4] | 208,550,000 | [4] | ' |
Face Value | 250,000,000 | [3],[4] | 250,000,000 | [3],[4] | ' |
Fair Value | 343,895,000 | [2],[4] | 228,750,000 | [2],[4] | ' |
Own-share Lending Arrangement [Abstract] | ' | ' | ' | ||
Non-cash interest expense | 17,300,000 | 15,200,000 | 13,400,000 | ||
Carrying Value | 225,889,000 | [3] | 208,550,000 | [3] | ' |
4.50% debentures due 2015 [Member] | Cash Conversion Option [Member] | ' | ' | ' | ||
Own-share Lending Arrangement [Abstract] | ' | ' | ' | ||
Exercise price | 22.53 | [5] | ' | ' | |
Derivative, Gain (Loss) on Derivative, Net | 108,200,000 | 1,600,000 | -34,000,000 | ||
4.50% debentures due 2015 [Member] | Bond Hedge [Member] | ' | ' | ' | ||
Own-share Lending Arrangement [Abstract] | ' | ' | ' | ||
Exercise price | 22.53 | ' | ' | ||
Derivative, Gain (Loss) on Derivative, Net | 108,100,000 | 1,600,000 | -34,000,000 | ||
4.50% debentures due 2015 [Member] | Bond Hedge [Member] | Maximum [Member] | ' | ' | ' | ||
Own-share Lending Arrangement [Abstract] | ' | ' | ' | ||
Option Indexed to Issuer's Equity, Indexed Shares | 11,100,000 | ' | ' | ||
4.50% debentures due 2015 [Member] | Warrant [Member] | ' | ' | ' | ||
Own-share Lending Arrangement [Abstract] | ' | ' | ' | ||
Exercise price | 24 | ' | ' | ||
4.75% debentures due 2014 [Member] | ' | ' | ' | ||
Debt Instrument [Line Items] | ' | ' | ' | ||
Face Value | 230,000,000 | 230,000,000 | ' | ||
Short-term | 230,000,000 | 0 | ' | ||
Long-term | 0 | 230,000,000 | ' | ||
Long-term Debt, Fiscal Year Maturity [Abstract] | ' | ' | ' | ||
Face Value | 230,000,000 | 230,000,000 | ' | ||
Convertible Debt [Abstract] | ' | ' | ' | ||
Convertible Debt, Current | 230,000,000 | 230,000,000 | ' | ||
Face Value | 230,000,000 | 230,000,000 | ' | ||
Fair Value | 269,252,000 | [2] | 218,960,000 | [2] | ' |
Own-share Lending Arrangement [Abstract] | ' | ' | ' | ||
Carrying Value | 230,000,000 | 230,000,000 | ' | ||
4.75% debentures due 2014 [Member] | Bond Hedge [Member] | ' | ' | ' | ||
Own-share Lending Arrangement [Abstract] | ' | ' | ' | ||
Exercise price | ' | 26.4 | ' | ||
4.75% debentures due 2014 [Member] | Bond Hedge [Member] | Maximum [Member] | ' | ' | ' | ||
Own-share Lending Arrangement [Abstract] | ' | ' | ' | ||
Option Indexed to Issuer's Equity, Indexed Shares | 8,700,000 | ' | ' | ||
4.75% debentures due 2014 [Member] | Warrant [Member] | ' | ' | ' | ||
Own-share Lending Arrangement [Abstract] | ' | ' | ' | ||
Exercise price | 26.4 | ' | ' | ||
0.75% debentures due 2015 [Member] | ' | ' | ' | ||
Debt Instrument [Line Items] | ' | ' | ' | ||
Face Value | 79,000 | 79,000 | ' | ||
Short-term | 0 | 0 | ' | ||
Long-term | 79,000 | 79,000 | ' | ||
Long-term Debt, Fiscal Year Maturity [Abstract] | ' | ' | ' | ||
Face Value | 79,000 | 79,000 | ' | ||
Convertible Debt [Abstract] | ' | ' | ' | ||
Convertible Debt, Noncurrent | 79,000 | 79,000 | ' | ||
Face Value | 79,000 | 79,000 | ' | ||
Fair Value | 102,000 | [2] | 79,000 | [2] | ' |
Own-share Lending Arrangement [Abstract] | ' | ' | ' | ||
Carrying Value | 79,000 | 79,000 | ' | ||
IFC Mortgage Loan [Member] | ' | ' | ' | ||
Debt Instrument [Line Items] | ' | ' | ' | ||
Debt Instrument, Basis Spread on Variable Rate | 3.00% | ' | ' | ||
Debt Instrument, Basis Spread on Variable Rate, Period Two | 4.25% | ' | ' | ||
Debt Istrument, Basis Spread on Variable Rate, Period Three | 5.00% | ' | ' | ||
Debt Instrument, Borrowing Fee, Percent of Principal | 1.00% | ' | ' | ||
Debt Instrument, Commitment Fee | 0.50% | ' | ' | ||
Debt Instrument, Prepayment Premium | 1.00% | ' | ' | ||
Face Value | 62,500,000 | 75,000,000 | ' | ||
Short-term | 15,000,000 | 12,500,000 | ' | ||
Long-term | 47,500,000 | 62,500,000 | ' | ||
Long-term Debt, Fiscal Year Maturity [Abstract] | ' | ' | ' | ||
Face Value | 62,500,000 | 75,000,000 | ' | ||
Convertible Debt [Abstract] | ' | ' | ' | ||
Face Value | 62,500,000 | 75,000,000 | ' | ||
Own-share Lending Arrangement [Abstract] | ' | ' | ' | ||
Restricted Cash and Cash Equivalents | 9,200,000 | 6,400,000 | ' | ||
Carrying Value | 62,500,000 | 75,000,000 | ' | ||
CEDA Loan [Member] | ' | ' | ' | ||
Debt Instrument [Line Items] | ' | ' | ' | ||
Debt Instrument, Interest Rate, Stated Percentage | 8.50% | ' | ' | ||
Face Value | 30,000,000 | 30,000,000 | ' | ||
Short-term | 0 | 0 | ' | ||
Long-term | 30,000,000 | 30,000,000 | ' | ||
Long-term Debt, Fiscal Year Maturity [Abstract] | ' | ' | ' | ||
Face Value | 30,000,000 | 30,000,000 | ' | ||
Convertible Debt [Abstract] | ' | ' | ' | ||
Face Value | 30,000,000 | 30,000,000 | ' | ||
Own-share Lending Arrangement [Abstract] | ' | ' | ' | ||
Restricted Cash and Cash Equivalents | 3,000,000 | 3,000,000 | ' | ||
Carrying Value | 30,000,000 | 30,000,000 | ' | ||
September 2011 Credit Agricole Syndicated Revolver [Member] | ' | ' | ' | ||
Debt Instrument [Line Items] | ' | ' | ' | ||
Face Value | 0 | 275,000,000 | ' | ||
Short-term | 0 | 0 | ' | ||
Long-term | 0 | 275,000,000 | ' | ||
Long-term Debt, Fiscal Year Maturity [Abstract] | ' | ' | ' | ||
Face Value | 0 | 275,000,000 | ' | ||
Convertible Debt [Abstract] | ' | ' | ' | ||
Face Value | 0 | 275,000,000 | ' | ||
Own-share Lending Arrangement [Abstract] | ' | ' | ' | ||
Carrying Value | 0 | 275,000,000 | ' | ||
September 2011 Credit Agricole Syndicated Revolver [Member] | Line of Credit [Member] | Credit Agricole [Member] | ' | ' | ' | ||
Line of Credit Facility [Abstract] | ' | ' | ' | ||
Line of Credit Facility, Basis Spread | ' | 0.60% | ' | ||
Line of Credit Facilty, Basis Spread on Base Loan Rate | ' | 0.25% | ' | ||
Line of Credit Facility, Basis Spread on Federal Funds | ' | 0.50% | ' | ||
Line of Credit Facility, Basis Spread on Libor Rate | ' | 1.00% | ' | ||
Line of Credit Facility, Unused Capacity, Commitment Fee Percentage | ' | 0.06% | ' | ||
Other Debt [Member] | ' | ' | ' | ||
Debt Instrument [Line Items] | ' | ' | ' | ||
Face Value | 50,926,000 | [6] | 1,368,000 | [6] | ' |
Short-term | 41,227,000 | [6] | 134,000 | [6] | ' |
Long-term | 9,699,000 | [6] | 1,234,000 | [6] | ' |
Long-term Debt, Fiscal Year Maturity [Abstract] | ' | ' | ' | ||
Face Value | 50,926,000 | [6] | 1,368,000 | [6] | ' |
Convertible Debt [Abstract] | ' | ' | ' | ||
Face Value | 50,926,000 | [6] | 1,368,000 | [6] | ' |
Own-share Lending Arrangement [Abstract] | ' | ' | ' | ||
Carrying Value | 50,926,000 | [6] | 1,368,000 | [6] | ' |
1.25% debentures [Member] | ' | ' | ' | ||
Debt Instrument [Line Items] | ' | ' | ' | ||
Face Value | ' | ' | 200,000,000 | ||
Long-term Debt, Fiscal Year Maturity [Abstract] | ' | ' | ' | ||
Face Value | ' | ' | 200,000,000 | ||
Convertible Debt [Abstract] | ' | ' | ' | ||
Face Value | ' | ' | 200,000,000 | ||
Own-share Lending Arrangement [Abstract] | ' | ' | ' | ||
Proceeds from Issuance of Debt | ' | ' | 194,000,000 | ||
Repayments of Long-term Debt | ' | 199,800,000 | ' | ||
July 2013 Credit Agricole Syndicated Revolver [Member] | Line of Credit [Member] | Credit Agricole [Member] | ' | ' | ' | ||
Line of Credit Facility [Abstract] | ' | ' | ' | ||
Line of Credit Facility, Current Borrowing Capacity | 250,000,000 | ' | ' | ||
Line of Credit Facility, Maximum Borrowing Capacity | 300,000,000 | ' | ' | ||
Line of Credit Facility, Basis Spread | 0.60% | ' | ' | ||
Line of Credit Facilty, Basis Spread on Base Loan Rate | 0.25% | ' | ' | ||
Line of Credit Facility, Basis Spread on Federal Funds | 0.50% | ' | ' | ||
Line of Credit Facility, Basis Spread on Libor Rate | 1.00% | ' | ' | ||
Line of Credit Facility, Unused Capacity, Commitment Fee Percentage | 0.06% | ' | ' | ||
Line of Credit Facility, Upfront Fee | 0.20% | ' | ' | ||
Line of Credit Facility, Basis Spread on Federal Funds Rate, Period Two | 0.50% | ' | ' | ||
Line of Credit Facility, Basis Spread on Libor Rate, Period Two | 1.00% | ' | ' | ||
July 2013 Credit Agricole Syndicated Revolver [Member] | Minimum [Member] | Line of Credit [Member] | Credit Agricole [Member] | ' | ' | ' | ||
Line of Credit Facility [Abstract] | ' | ' | ' | ||
Line of Credit Facility, Basis Spread on Base Loan, Period Two | 0.50% | ' | ' | ||
Line of Credit Facility, Unused Capacity, Commitment Fee Percentage, Period Two | 0.25% | ' | ' | ||
Line of Credit Facility, Basis Spread, Period Two | 1.50% | ' | ' | ||
July 2013 Credit Agricole Syndicated Revolver [Member] | Maximum [Member] | Line of Credit [Member] | Credit Agricole [Member] | ' | ' | ' | ||
Line of Credit Facility [Abstract] | ' | ' | ' | ||
Line of Credit Facility, Basis Spread on Base Loan, Period Two | 1.00% | ' | ' | ||
Line of Credit Facility, Unused Capacity, Commitment Fee Percentage, Period Two | 0.35% | ' | ' | ||
Line of Credit Facility, Basis Spread, Period Two | 2.00% | ' | ' | ||
Total Liquidity Support Agreement [Member] | Liquidity Support [Member] | Total [Member] | ' | ' | ' | ||
Line of Credit Facility [Abstract] | ' | ' | ' | ||
Liquidity Support Facility, Guarantee Fee, Percent of Average Guaranteed Debt | 2.75% | ' | ' | ||
Line of Credit Facility, Initiation Date | 28-Feb-12 | ' | ' | ||
Line of Credit Facility, Remaining Borrowing Capacity | 350,000,000 | ' | ' | ||
Israel project loan [Member] | ' | ' | ' | ||
Own-share Lending Arrangement [Abstract] | ' | ' | ' | ||
Carrying Value | 40,700,000 | ' | ' | ||
Combined Project Loan [Member] | ' | ' | ' | ||
Own-share Lending Arrangement [Abstract] | ' | ' | ' | ||
Carrying Value | 9,000,000 | ' | ' | ||
August 2011 Letter of Credit [Member] | Letter of Credit [Member] | Deutsche Bank [Member] | ' | ' | ' | ||
Line of Credit Facility [Abstract] | ' | ' | ' | ||
Letter of Credit Facility, Maximum Borrowing Capacity, in FY 2012. | 725,000,000 | ' | ' | ||
Letter of Credit Facility, Maximum Borrowing Capacity, in 2013. | 771,000,000 | ' | ' | ||
Letter of Credit Facility, Maximum Borrowing Capacity, in 2014. | 878,000,000 | ' | ' | ||
Letter of Credit Facility, Maximum Borrowing Capacity, in 2015. | 936,000,000 | ' | ' | ||
Letter of Credit Facility, Maximum Borrowing Capacity, in 2016. | 1,000,000,000 | ' | ' | ||
Letters of Credit Outstanding, Amount | 736,000,000 | 725,300,000 | ' | ||
September 2011 Letter of Credit [Member] | Letter of Credit [Member] | Deutsche Bank [Member] | ' | ' | ' | ||
Line of Credit Facility [Abstract] | ' | ' | ' | ||
Line of Credit Facility, Maximum Borrowing Capacity | 200,000,000 | ' | ' | ||
Letters of Credit Outstanding, Amount | $2,400,000 | $17,500,000 | ' | ||
[1] | The Company has related party balances in connection with transactions made with Total and its affiliates as well as unconsolidated entities in which the Company has a direct equity investment. These related party balances are recorded within the "Prepaid expenses and other current assets," "Other long-term assets," "Accounts payable," "Customer advances, current portion," "Convertible debt, net of current portion," and "Customer advances, net of current portion" financial statement line items in the Consolidated Balance Sheets (see Note 2, Note 4, Note 8, Note 9, and Note 10). | ||||
[2] | The fair value of the convertible debt was determined using Level 1 inputs based on quarterly market prices as reported by an independent pricing source. | ||||
[3] | 1B As of December 29, 2013, the 4.50% debentures due 2015 were classified as short-term debt on the Company's Consolidated Balance Sheets as the conversion right was met during the fourth quarter of fiscal 2013. | ||||
[4] | As of December 29, 2013, the 4.50% debentures due 2015 were classified as short-term debt on the Company's Consolidated Balance Sheets as the conversion right was met during the fourth quarter of fiscal 2013. | ||||
[5] | The valuation model utilizes these inputs to value the right but not the obligation to purchase one share at $22.53. The Company utilized a Black-Scholes valuation model to value the 4.50% Bond Hedge and embedded cash conversion option. The underlying input assumptions were determined as follows:(i)Stock price. The closing price of the Company's common stock on the last trading day of the quarter.(ii)Exercise price. The exercise price of the 4.50% Bond Hedge and the embedded cash conversion option.(iii)Interest rate. The Treasury Strip rate associated with the life of the 4.50% Bond Hedge and the embedded cash conversion option.(iv)Stock volatility. The volatility of the Company's common stock over the life of the 4.50% Bond Hedge and the embedded cash conversion option.(v)Credit risk adjustment. Represents the weighted average of the credit default swap rate of the counterparties. | ||||
[6] | The balance of Other debt excludes payments related to capital leases which are disclosed in Note 8. "Commitments and Contingencies" to these consolidated financial statements. |
Foreign_Currency_Derivatives_D
Foreign Currency Derivatives (Details) (USD $) | 12 Months Ended | ||
Dec. 29, 2013 | Dec. 30, 2012 | Jan. 01, 2012 | |
Derivative Instruments, Gain (Loss) Recognized in Income, Ineffective Portion and Amount Excluded from Effectiveness Testing, Net [Abstract] | ' | ' | ' |
Derivative Instruments, Loss Recognized in Income, Ineffective Portion and Amount Excluded from Effectiveness Testing | ($3,029,000) | ($1,853,000) | ($18,235,000) |
Gain (Loss) on Foreign Currency Derivative Instruments Not Designated as Hedging Instruments | -4,615,000 | 3,126,000 | -3,972,000 |
Accumulated Other Comprehensive Income [Roll Forward] | ' | ' | ' |
Gain (loss) in Accumulated OCI at the beginning of the period | -243,000 | 10,473,000 | ' |
Unrealized gain (loss) recognized in OCI (effective portion) | -168,000 | -1,720,000 | -32,224,000 |
Less: loss (gain) reclassified from Accumulated OCI to revenue (effective portion) | -394,000 | -8,996,000 | 30,456,000 |
Less: Loss reclassified from OCI to other, net | 0 | 0 | 1,593,000 |
Net loss on derivatives | -562,000 | -10,716,000 | -175,000 |
Gain (loss) in Accumulated OCI at the end of the period | -805,000 | -243,000 | 10,473,000 |
Designated as Hedging Instrument [Member] | ' | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' | ' |
Derivative Asset | 1,238,000 | 519,000 | ' |
Derivative Liability | 2,150,000 | 410,000 | ' |
Designated as Hedging Instrument [Member] | Foreign Exchange Forward [Member] | ' | ' | ' |
Notional Disclosures [Abstract] | ' | ' | ' |
Derivative Asset, Notional Amount | 42,800,000 | 26,400,000 | ' |
Designated as Hedging Instrument [Member] | Foreign Exchange Option [Member] | ' | ' | ' |
Notional Disclosures [Abstract] | ' | ' | ' |
Derivative Asset, Notional Amount | 105,900,000 | 71,000,000 | ' |
Not Designated as Hedging Instrument [Member] | ' | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' | ' |
Derivative Asset | 3,992,000 | 756,000 | ' |
Derivative Liability | 4,575,000 | 4,481,000 | ' |
Not Designated as Hedging Instrument [Member] | Foreign Exchange Forward [Member] | ' | ' | ' |
Notional Disclosures [Abstract] | ' | ' | ' |
Derivative Asset, Notional Amount | 32,100,000 | 121,800,000 | ' |
Not Designated as Hedging Instrument [Member] | Foreign Exchange Option [Member] | ' | ' | ' |
Notional Disclosures [Abstract] | ' | ' | ' |
Derivative Asset, Notional Amount | 9,400,000 | 0 | ' |
Prepaid Expenses and Other Current Assets [Member] | Designated as Hedging Instrument [Member] | Foreign Exchange Forward [Member] | ' | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' | ' |
Foreign currency derivatives | 35,000 | 0 | ' |
Prepaid Expenses and Other Current Assets [Member] | Designated as Hedging Instrument [Member] | Foreign Exchange Option [Member] | ' | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' | ' |
Foreign currency derivatives | 615,000 | 519,000 | ' |
Prepaid Expenses and Other Current Assets [Member] | Not Designated as Hedging Instrument [Member] | Foreign Exchange Forward [Member] | ' | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' | ' |
Foreign currency derivatives | 3,611,000 | 731,000 | ' |
Prepaid Expenses and Other Current Assets [Member] | Not Designated as Hedging Instrument [Member] | Foreign Exchange Option [Member] | ' | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' | ' |
Foreign currency derivatives | 381,000 | 25,000 | ' |
Other Noncurrent Assets [Member] | Designated as Hedging Instrument [Member] | Foreign Exchange Option [Member] | ' | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' | ' |
Derivative Asset, Noncurrent | 588,000 | 0 | ' |
Accrued Liabilities [Member] | Designated as Hedging Instrument [Member] | Foreign Exchange Forward [Member] | ' | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' | ' |
Foreign currency derivatives | 0 | 23,000 | ' |
Accrued Liabilities [Member] | Designated as Hedging Instrument [Member] | Foreign Exchange Option [Member] | ' | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' | ' |
Foreign currency derivatives | 1,595,000 | 387,000 | ' |
Accrued Liabilities [Member] | Not Designated as Hedging Instrument [Member] | Foreign Exchange Forward [Member] | ' | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' | ' |
Foreign currency derivatives | 4,189,000 | 4,455,000 | ' |
Accrued Liabilities [Member] | Not Designated as Hedging Instrument [Member] | Foreign Exchange Option [Member] | ' | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' | ' |
Foreign currency derivatives | 386,000 | 26,000 | ' |
Other Noncurrent Liabilities [Member] | Designated as Hedging Instrument [Member] | Foreign Exchange Option [Member] | ' | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' | ' |
Foreign currency derivatives | $555,000 | $0 | ' |
Income_Taxes_Details
Income Taxes (Details) (USD $) | 12 Months Ended | ||
Dec. 29, 2013 | Dec. 30, 2012 | Jan. 01, 2012 | |
Income (Loss) from Continuing Operations before Equity Method Investments, Income Taxes, Extraordinary Items, Noncontrolling Interest [Abstract] | ' | ' | ' |
Income (Loss) from Continuing Operations before Income Taxes, Domestic | ($32,022,000) | ($140,432,000) | ($431,185,000) |
Income (Loss) from Continuing Operations before Income Taxes, Foreign | 73,605,000 | -189,231,000 | -171,347,000 |
Income (Loss) from Continuing Operations before Equity Method Investments, Income Taxes, Extraordinary Items, Noncontrolling Interest | 41,583,000 | -329,663,000 | -602,532,000 |
Current Income Tax Expense (Benefit), Continuing Operations [Abstract] | ' | ' | ' |
Current Federal Tax Expense (Benefit) | 5,068,000 | 0 | -3,105,000 |
Current State and Local Tax Expense (Benefit) | -2,414,000 | -805,000 | -317,000 |
Current Foreign Tax Expense (Benefit) | -14,043,000 | -28,183,000 | -14,112,000 |
Current Income Tax Expense (Benefit) | -11,389,000 | -28,988,000 | -17,534,000 |
Deferred Income Tax Expense (Benefit), Continuing Operations [Abstract] | ' | ' | ' |
Deferred Federal Income Tax Expense (Benefit) | 0 | 0 | 0 |
Deferred State and Local Income Tax Expense (Benefit) | 0 | 0 | 0 |
Deferred Foreign Income Tax Expense (Benefit) | -516,000 | 7,146,000 | 326,000 |
Deferred Income Tax Expense (Benefit) | -516,000 | 7,146,000 | 326,000 |
Income Tax Expense (Benefit) | -11,905,000 | -21,842,000 | -17,208,000 |
Effective Income Tax Rate Reconciliation, Amount [Abstract] | ' | ' | ' |
Statutory rate | 35.00% | 35.00% | 35.00% |
Tax benefit (expense) at U.S. statutory rate | -14,554,000 | 115,382,000 | 210,886,000 |
Foreign rate differential | 9,324,000 | -82,017,000 | -73,757,000 |
State income taxes, net of benefit | -2,414,000 | -805,000 | -317,000 |
Goodwill impairment | 0 | -12,596,000 | -52,247,000 |
Deemed foreign dividend | -2,511,000 | 0 | 0 |
Total investment related costs | 0 | 0 | -2,878,000 |
Tax credits (research and development/investment tax credit) | 15,599,000 | 939,000 | 4,409,000 |
Deferred taxes not benefitted | -22,942,000 | -53,075,000 | -99,703,000 |
Lehman settlement | 0 | 17,726,000 | 0 |
Reserve releases | 10,550,000 | 0 | 0 |
Other, net | -4,957,000 | -7,396,000 | -3,601,000 |
Components of Deferred Tax Assets [Abstract] | ' | ' | ' |
Net operating loss carryforwards | 84,815,000 | 118,738,000 | ' |
Research and development credit and California manufacturing credit carryforwards | 26,865,000 | 11,372,000 | ' |
Reserves and accruals | 145,382,000 | 114,125,000 | ' |
Synthetic debt | 13,595,000 | 31,921,000 | ' |
Stock-based compensation stock deductions | 14,752,000 | 13,147,000 | ' |
Total deferred tax asset | 285,409,000 | 289,303,000 | ' |
Valuation allowance | -90,571,000 | -182,322,000 | ' |
Total deferred tax asset, net of valuation allowance | 194,838,000 | 106,981,000 | ' |
Components of Deferred Tax Liabilities [Abstract] | ' | ' | ' |
Foreign currency derivatives unrealized gains | 184,000 | 42,000 | ' |
Other intangible assets and accruals | -44,959,000 | -32,464,000 | ' |
Fixed asset basis difference | -143,491,000 | -67,473,000 | ' |
Total deferred tax liabilities | -188,266,000 | -99,895,000 | ' |
Net deferred tax liability | 6,572,000 | 7,086,000 | ' |
Income Tax Holiday [Line Items] | ' | ' | ' |
Undistributed Earnings of Foreign Subsidiaries | 79,100,000 | ' | ' |
Deferred Tax Liabilities, Undistributed Foreign Earnings | 31,600,000 | ' | ' |
Valuation Allowance [Abstract] | ' | ' | ' |
Valuation Allowance, Deferred Tax Asset, Change in Amount | 91,800,000 | -52,400,000 | 125,300,000 |
Income Tax Examination, Penalties and Interest Accrued | 2,600,000 | 3,000,000 | ' |
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward] | ' | ' | ' |
Balance, beginning of year | 62,932,000 | 33,565,000 | ' |
Additions for tax positions related to the current year | 2,053,000 | 708,000 | 2,535,000 |
Additions (reductions) for tax positions from prior years | -24,535,000 | 32,493,000 | 7,381,000 |
Reductions for tax positions from prior years/statute of limitations expirations | -12,431,000 | -2,684,000 | 0 |
Foreign exchange (gain) loss | 1,599,000 | -1,150,000 | 0 |
Balance at the end of the period | 29,618,000 | 62,932,000 | 33,565,000 |
Unrecognized Tax Benefits that Would Impact Effective Tax Rate | 25,900,000 | ' | ' |
State and Local Jurisdiction [Member] | ' | ' | ' |
Operating Loss Carryforwards [Line Items] | ' | ' | ' |
Operating Loss Carryforwards | 153,600,000 | ' | ' |
Tax Credit Carryforward, Amount | 8,200,000 | ' | ' |
State and Local Jurisdiction [Member] | Stock Deductions [Member] | ' | ' | ' |
Operating Loss Carryforwards [Line Items] | ' | ' | ' |
Operating Loss Carryforwards | 30,000,000 | ' | ' |
State and Local Jurisdiction [Member] | Debt Issuances [Member] | ' | ' | ' |
Operating Loss Carryforwards [Line Items] | ' | ' | ' |
Operating Loss Carryforwards | 117,700,000 | ' | ' |
Internal Revenue Service (IRS) [Member] | ' | ' | ' |
Operating Loss Carryforwards [Line Items] | ' | ' | ' |
Operating Loss Carryforwards | 298,000,000 | ' | ' |
Tax Credit Carryforward, Amount | 42,400,000 | ' | ' |
Internal Revenue Service (IRS) [Member] | Stock Deductions [Member] | ' | ' | ' |
Operating Loss Carryforwards [Line Items] | ' | ' | ' |
Operating Loss Carryforwards | 34,400,000 | ' | ' |
Internal Revenue Service (IRS) [Member] | Debt Issuances [Member] | ' | ' | ' |
Operating Loss Carryforwards [Line Items] | ' | ' | ' |
Operating Loss Carryforwards | 160,100,000 | ' | ' |
Philippines [Member] | ' | ' | ' |
Income Tax Holiday [Line Items] | ' | ' | ' |
Income Tax Holiday, Reduction in Tax Rate, Lower End of Range | 0.00% | ' | ' |
Income Tax Holiday, Reduction in Tax Rate, Upper End of Range | 30.00% | ' | ' |
Income Tax Holiday, Aggregate Dollar Amount | 11,700,000 | 9,500,000 | 3,900,000 |
Income Tax Holiday, Income Tax Benefits Per Share | $0.08 | $0.07 | $0.04 |
Switzerland [Member] | ' | ' | ' |
Income Tax Holiday [Line Items] | ' | ' | ' |
Income Tax Holiday, Reduction in Tax Rate, Lower End of Range | 11.50% | ' | ' |
Income Tax Holiday, Reduction in Tax Rate, Upper End of Range | 24.20% | ' | ' |
Income Tax Holiday, Aggregate Dollar Amount | $1,500,000 | $1,800,000 | $2,300,000 |
Income Tax Holiday, Income Tax Benefits Per Share | $0.02 | $0.02 | $0.02 |
Common_Stock_Details
Common Stock (Details) | Dec. 29, 2013 | Dec. 30, 2012 |
In Thousands, unless otherwise specified | ||
Common Stock, Number of Shares, Par Value and Other Disclosures [Abstract] | ' | ' |
Common Stock, Capital Shares Reserved for Future Issuance | 3,963 | 3,566 |
Net_Income_Loss_Per_Share_of_C2
Net Income (Loss) Per Share of Common Stock (Details) (USD $) | 12 Months Ended | ||||
In Thousands, except Share data, unless otherwise specified | Dec. 29, 2013 | Dec. 30, 2012 | Jan. 01, 2012 | ||
Net Income (Loss) Available to Common Stockholders, Diluted [Abstract] | ' | ' | ' | ||
Net income (loss) attributable to stockholders | $95,593 | ($352,020) | ($613,737) | ||
Interest on Convertible Debt, Net of Tax | 1,295 | 0 | 0 | ||
Net Income (Loss) Available to Common Stockholders, Diluted | 96,888 | -352,020 | -613,737 | ||
Weighted Average Number of Shares Outstanding, Diluted [Abstract] | ' | ' | ' | ||
Basic, Weighted Ave. Shares | 120,819,000 | 117,093,000 | 97,724,000 | ||
Stock options | 109,000 | 0 | 0 | ||
Upfront Warrants (held by Total) | 5,090,000 | 0 | 0 | ||
Warrants (under the CSO2015) | 590,000 | 0 | 0 | ||
Warrants (under the CSO2014) | 292,000 | 0 | 0 | ||
0.75% debentures due 2018 | 7,070,000 | 0 | 0 | ||
Diluted, Weighted Ave. Shares | 138,980,000 | 117,093,000 | 97,724,000 | ||
Restricted Stock Units (RSUs) | 5,010,000 | 0 | 0 | ||
Diluted, EPS | $0.70 | ($3.01) | ($6.28) | ||
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items] | ' | ' | ' | ||
Net income (loss) attributable to stockholders | $95,593 | ($352,020) | ($613,737) | ||
Basic, Weighted Ave. Shares | 120,819,000 | 117,093,000 | 97,724,000 | ||
Basic, EPS | $0.79 | ($3.01) | ($6.28) | ||
Stock Option [Member] | ' | ' | ' | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ' | ' | ' | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 194,000 | 363,000 | [1] | 425,000 | [1] |
Restricted Stock Units (RSUs) [Member] | ' | ' | ' | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ' | ' | ' | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 1,600,000 | 6,287,000 | [1] | 1,943,000 | [1] |
Upfront Warrants (held by Total) [Member] | ' | ' | ' | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ' | ' | ' | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 0 | ' | ' | ||
4.75% debentures due 2014 [Member] | ' | ' | ' | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ' | ' | ' | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 8,712,000 | 8,712,000 | [1] | 8,712,000 | [1] |
0.75% debentures due 2018 [Member] | ' | ' | ' | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ' | ' | ' | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 0 | ' | ' | ||
4.50% debentures due 2015 [Member] | Warrant [Member] | ' | ' | ' | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ' | ' | ' | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 0 | ' | ' | ||
4.75% debentures due 2014 [Member] | Warrant [Member] | ' | ' | ' | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ' | ' | ' | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 0 | ' | ' | ||
Warrant [Member] | 4.50% debentures due 2015 [Member] | ' | ' | ' | ||
Dilutive Shares [Line Items] | ' | ' | ' | ||
Exercise price | 24 | ' | ' | ||
Warrant [Member] | 4.75% debentures due 2014 [Member] | ' | ' | ' | ||
Dilutive Shares [Line Items] | ' | ' | ' | ||
Exercise price | 26.4 | ' | ' | ||
Upfront Warrants (held by Total) [Member] | ' | ' | ' | ||
Dilutive Shares [Line Items] | ' | ' | ' | ||
Option Indexed to Issuer's Equity, Indexed Shares | 9,531,677 | ' | ' | ||
Exercise price | 7.8685 | ' | ' | ||
Bond Hedge [Member] | 4.50% debentures due 2015 [Member] | ' | ' | ' | ||
Dilutive Shares [Line Items] | ' | ' | ' | ||
Exercise price | 22.53 | ' | ' | ||
Bond Hedge [Member] | 4.75% debentures due 2014 [Member] | ' | ' | ' | ||
Dilutive Shares [Line Items] | ' | ' | ' | ||
Exercise price | ' | 26.4 | ' | ||
Maximum [Member] | Bond Hedge [Member] | 4.50% debentures due 2015 [Member] | ' | ' | ' | ||
Dilutive Shares [Line Items] | ' | ' | ' | ||
Option Indexed to Issuer's Equity, Indexed Shares | 11,100,000 | ' | ' | ||
Maximum [Member] | Bond Hedge [Member] | 4.75% debentures due 2014 [Member] | ' | ' | ' | ||
Dilutive Shares [Line Items] | ' | ' | ' | ||
Option Indexed to Issuer's Equity, Indexed Shares | 8,700,000 | ' | ' | ||
[1] | As a result of the net loss per share for fiscal 2012 and 2011, the inclusion of all potentially dilutive stock options, restricted stock units, and common shares under noted warrants and convertible debt would be anti-dilutive. Therefore, those stock options, restricted stock units and shares were excluded from the computation of the weighted-average shares for diluted net loss per share for such period. |
StockBack_Compensation_Details
Stock-Back Compensation (Details) (USD $) | 12 Months Ended | ||
Dec. 29, 2013 | Dec. 30, 2012 | Jan. 01, 2012 | |
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized [Abstract] | ' | ' | ' |
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition | '1 year 10 months 10 days | ' | ' |
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized | $73,900,000 | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Additional Disclosures [Abstract] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant | 4,000,000 | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price | $30.87 | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Remaining Contractual Term | '2 years 9 months 11 days | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Intrinsic Value | 3,269,000 | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period, Intrinsic Value | 800,000 | 100,000 | 16,400,000 |
Stock price | $28.91 | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options in the Money, Exercisable, Number | 200,000 | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number | 8,576,000 | 7,370,000 | 6,112,000 |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 5,607,000 | 5,638,000 | 5,349,000 |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period | -3,583,000 | -2,844,000 | -2,255,000 |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeited in Period | -1,008,000 | -1,588,000 | -1,836,000 |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number | 9,592,000 | 8,576,000 | 7,370,000 |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value | $8.53 | $13.25 | $18.36 |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value | $15.88 | $5.93 | $11.79 |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Weighted Average Grant Date Fair Value | $9.48 | $13.94 | $22.32 |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeitures, Weighted Average Grant Date Fair Value | $10.10 | $11.52 | $14.86 |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value | $12.26 | $8.53 | $13.25 |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Stock-based Compensation Expense | 45,678,000 | 42,439,000 | 46,736,000 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number | 320,000 | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Automatic Annual Increase in Number of Shares Available for Grant | 7,600,000 | ' | ' |
Shares Paid for Tax Withholding for Share Based Compensation | 1,329,140 | 905,953 | 784,427 |
Stock Option [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Stock-based Compensation Expense | 0 | 649,000 | 1,658,000 |
Restricted Stock Units (RSUs) [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Stock-based Compensation Expense | 46,215,000 | 40,996,000 | 45,223,000 |
Change in stock-based compensation capitalized in inventory [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Stock-based Compensation Expense | -537,000 | 794,000 | -145,000 |
Americas [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Stock-based Compensation Expense | 5,150,000 | 6,181,000 | 5,974,000 |
EMEA [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Stock-based Compensation Expense | 2,660,000 | 3,851,000 | 6,183,000 |
APAC [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Stock-based Compensation Expense | 3,006,000 | 1,578,000 | 1,030,000 |
Cost of Sales [Member] | Americas [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Stock-based Compensation Expense | 5,150,000 | 6,181,000 | 5,974,000 |
Cost of Sales [Member] | EMEA [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Stock-based Compensation Expense | 2,660,000 | 3,851,000 | 6,183,000 |
Cost of Sales [Member] | APAC [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Stock-based Compensation Expense | 3,006,000 | 1,578,000 | 1,030,000 |
Research and Development Expense [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Stock-based Compensation Expense | 5,414,000 | 5,005,000 | 6,166,000 |
Selling, General and Administrative Expenses [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Stock-based Compensation Expense | 29,448,000 | 25,824,000 | 25,772,000 |
Restructuring Charges [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Stock-based Compensation Expense | $0 | $0 | $1,611,000 |
Segment_Information_Details
Segment Information (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 29, 2013 | Dec. 30, 2012 | Jan. 01, 2012 |
Segment Reporting Information [Line Items] | ' | ' | ' |
Stock-based compensation expense | $45,678 | $42,439 | $46,736 |
APAC | 2,016,131 | 2,171,103 | 2,148,158 |
Revenue | 2,507,203 | 2,417,501 | 2,374,376 |
Gross Profit | 491,072 | 246,398 | 226,218 |
Revenue Reconciliation [Abstract] | ' | ' | ' |
Revenue | 2,507,203 | 2,417,501 | 2,374,376 |
Cost of Revenue Reconciliation [Abstract] | ' | ' | ' |
Gain on contract termination | -51,988 | 0 | 0 |
Gross Profit Margin [Abstract] | ' | ' | ' |
Non-cash interest expense | 49,016 | 38,177 | 28,627 |
Revenue Reconciliation [Abstract] | ' | ' | ' |
Revenue | 2,507,203 | 2,417,501 | 2,374,376 |
Cost of Revenue Reconciliation [Abstract] | ' | ' | ' |
Gain on contract termination | -51,988 | 0 | 0 |
Solar Power Product [Member] | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' |
Revenue | 917,960 | 985,436 | 1,349,023 |
Revenue Reconciliation [Abstract] | ' | ' | ' |
Revenue | 917,960 | 985,436 | 1,349,023 |
Revenue Reconciliation [Abstract] | ' | ' | ' |
Revenue | 917,960 | 985,436 | 1,349,023 |
Solar Power Systems [Member] | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' |
Revenue | 1,399,972 | 1,318,269 | 1,010,572 |
Revenue Reconciliation [Abstract] | ' | ' | ' |
Revenue | 1,399,972 | 1,318,269 | 1,010,572 |
Revenue Reconciliation [Abstract] | ' | ' | ' |
Revenue | 1,399,972 | 1,318,269 | 1,010,572 |
Residential leases [Member] | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' |
Revenue | 137,054 | 68,914 | 3,045 |
Revenue Reconciliation [Abstract] | ' | ' | ' |
Revenue | 137,054 | 68,914 | 3,045 |
Revenue Reconciliation [Abstract] | ' | ' | ' |
Revenue | 137,054 | 68,914 | 3,045 |
other product [Member] | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' |
Revenue | 52,217 | 44,882 | 11,736 |
Revenue Reconciliation [Abstract] | ' | ' | ' |
Revenue | 52,217 | 44,882 | 11,736 |
Revenue Reconciliation [Abstract] | ' | ' | ' |
Revenue | 52,217 | 44,882 | 11,736 |
Americas [Member] | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' |
Stock-based compensation expense | 5,150 | 6,181 | 5,974 |
APAC | 1,299,701 | 1,415,417 | 1,131,771 |
Revenue | 1,676,472 | 1,696,348 | 1,266,347 |
Depreciation | 46,843 | 59,120 | 50,352 |
Revenue Reconciliation [Abstract] | ' | ' | ' |
Revenue as reviewed by CODM | 1,772,260 | 1,901,159 | 1,452,770 |
Revenue, Utility and power Plant Project | -95,788 | -204,811 | -186,423 |
Revenue | 1,676,472 | 1,696,348 | 1,266,347 |
Cost of Revenue Reconciliation [Abstract] | ' | ' | ' |
Cost of Revenue (as reviewed by CODM) | 1,336,445 | 1,486,554 | 1,250,471 |
Cost of Revenue, Utility and Power Plant Project | -18,450 | -97,648 | -147,037 |
Gain on contract termination | -25,604 | 0 | 0 |
Other, Cost of Revenue | 957 | 19,306 | 21,169 |
Gross Profit Margin [Abstract] | ' | ' | ' |
Gross Profit As a Percentage of Total Revenues | 22.47% | 16.56% | 10.63% |
Gross Profit As a Percentage of Total Revenues (as Reviewed by CODM) | 24.59% | 21.81% | 13.93% |
Non-cash interest expense | 1,203 | 1,024 | 1,194 |
Revenue Reconciliation [Abstract] | ' | ' | ' |
Revenue as reviewed by CODM | 1,772,260 | 1,901,159 | 1,452,770 |
Revenue, Utility and power Plant Project | -95,788 | -204,811 | -186,423 |
Revenue | 1,676,472 | 1,696,348 | 1,266,347 |
Cost of Revenue Reconciliation [Abstract] | ' | ' | ' |
Cost of Revenue (as reviewed by CODM) | 1,336,445 | 1,486,554 | 1,250,471 |
Cost of Revenue, Utility and Power Plant Project | -18,450 | -97,648 | -147,037 |
Gain on contract termination | -25,604 | 0 | 0 |
Other, Cost of Revenue | 957 | 19,306 | 21,169 |
Gross Profit Margin [Abstract] | ' | ' | ' |
Gross Profit As a Percentage of Total Revenues | 22.47% | 16.56% | 10.63% |
Gross Profit As a Percentage of Total Revenues (as Reviewed by CODM) | 24.59% | 21.81% | 13.93% |
Americas [Member] | NRG Solar Inc. [Member] | ' | ' | ' |
Revenue, Major Customer [Line Items] | ' | ' | ' |
Revenue As Percentage Of Total Revenues | 17.00% | 35.00% | ' |
Americas [Member] | Mid American Energy Holdings Company [Member] | ' | ' | ' |
Revenue, Major Customer [Line Items] | ' | ' | ' |
Revenue As Percentage Of Total Revenues | 25.00% | ' | ' |
EMEA [Member] | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' |
Stock-based compensation expense | 2,660 | 3,851 | 6,183 |
APAC | 419,416 | 559,993 | 868,330 |
Revenue | 450,659 | 489,484 | 924,337 |
Depreciation | 22,380 | 33,047 | 47,896 |
Revenue Reconciliation [Abstract] | ' | ' | ' |
Revenue as reviewed by CODM | 450,659 | 489,291 | 923,688 |
Other Revenue, Net | 0 | 193 | 649 |
Revenue | 450,659 | 489,484 | 924,337 |
Cost of Revenue Reconciliation [Abstract] | ' | ' | ' |
Cost of Revenue (as reviewed by CODM) | 425,470 | 543,823 | 827,858 |
Gain on contract termination | -9,395 | 0 | 0 |
Other, Cost of Revenue | 186 | 11,793 | 33,141 |
Gross Profit Margin [Abstract] | ' | ' | ' |
Gross Profit As a Percentage of Total Revenues | 6.93% | -14.40% | 5.99% |
Gross Profit As a Percentage of Total Revenues (as Reviewed by CODM) | 5.59% | -11.15% | 10.37% |
Non-cash interest expense | 495 | 526 | 1,148 |
Revenue Reconciliation [Abstract] | ' | ' | ' |
Revenue as reviewed by CODM | 450,659 | 489,291 | 923,688 |
Other Revenue, Net | 0 | 193 | 649 |
Revenue | 450,659 | 489,484 | 924,337 |
Cost of Revenue Reconciliation [Abstract] | ' | ' | ' |
Cost of Revenue (as reviewed by CODM) | 425,470 | 543,823 | 827,858 |
Gain on contract termination | -9,395 | 0 | 0 |
Other, Cost of Revenue | 186 | 11,793 | 33,141 |
Gross Profit Margin [Abstract] | ' | ' | ' |
Gross Profit As a Percentage of Total Revenues | 6.93% | -14.40% | 5.99% |
Gross Profit As a Percentage of Total Revenues (as Reviewed by CODM) | 5.59% | -11.15% | 10.37% |
APAC [Member] | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' |
Stock-based compensation expense | 3,006 | 1,578 | 1,030 |
APAC | 297,014 | 195,693 | 148,057 |
Revenue | 380,072 | 231,669 | 183,692 |
Depreciation | 28,223 | 16,489 | 8,852 |
Revenue Reconciliation [Abstract] | ' | ' | ' |
Revenue as reviewed by CODM | 379,400 | 231,669 | 183,692 |
Other Revenue, Net | 672 | 0 | 0 |
Revenue | 380,072 | 231,669 | 183,692 |
Cost of Revenue Reconciliation [Abstract] | ' | ' | ' |
Cost of Revenue (as reviewed by CODM) | 310,025 | 187,748 | 144,138 |
Gain on contract termination | -16,988 | 0 | 0 |
Other, Cost of Revenue | 258 | 6,075 | 2,667 |
Gross Profit Margin [Abstract] | ' | ' | ' |
Gross Profit As a Percentage of Total Revenues | 21.85% | 15.53% | 19.40% |
Gross Profit As a Percentage of Total Revenues (as Reviewed by CODM) | 18.29% | 18.96% | 21.53% |
Non-cash interest expense | 713 | 292 | 222 |
Revenue Reconciliation [Abstract] | ' | ' | ' |
Revenue as reviewed by CODM | 379,400 | 231,669 | 183,692 |
Other Revenue, Net | 672 | 0 | 0 |
Revenue | 380,072 | 231,669 | 183,692 |
Cost of Revenue Reconciliation [Abstract] | ' | ' | ' |
Cost of Revenue (as reviewed by CODM) | 310,025 | 187,748 | 144,138 |
Gain on contract termination | -16,988 | 0 | 0 |
Other, Cost of Revenue | $258 | $6,075 | $2,667 |
Gross Profit Margin [Abstract] | ' | ' | ' |
Gross Profit As a Percentage of Total Revenues | 21.85% | 15.53% | 19.40% |
Gross Profit As a Percentage of Total Revenues (as Reviewed by CODM) | 18.29% | 18.96% | 21.53% |