Sunpower (SPWRQ) 10-Q 4 Aug 21 2021 Q2 Quarterly report Financial data

Cover page

Cover page - shares	6 Months Ended
	Jul. 04, 2021	Jul. 30, 2021
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jul. 4, 2021
Document Transition Report	false
Entity File Number	001-34166
Entity Registrant Name	SUNPOWER CORP
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	94-3008969
Entity Address, Address Line One	51 Rio Robles
Entity Address, City or Town	San Jose
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	95134
City Area Code	408
Local Phone Number	240-5500
Title of 12(b) Security	Common Stock, $0.001 par value per share
Trading Symbol	SPWR
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Emerging Growth Company	false
Entity Small Business	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding (in shares)		172,855,274
Amendment Flag	false
Entity Central Index Key	0000867773
Current Fiscal Year End Date	--01-02
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q2

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands		Jul. 04, 2021	Jan. 03, 2021
Current assets:
Cash and cash equivalents		$ 140,462	$ 232,765
Restricted cash and cash equivalents, current portion	[1]	5,818	5,518
Short-term investments		372,820	0
Accounts receivable, net	[2]	110,450	108,864
Contract assets	[2]	89,219	114,506
Inventories		235,843	210,582
Advances to suppliers, current portion		4,995	2,814
Project assets - plants and land, current portion		12,850	21,015
Prepaid expenses and other current assets	[2]	88,890	94,251
Total current assets		1,061,347	790,315
Restricted cash and cash equivalents, net of current portion	[1]	5,347	8,521
Property, plant and equipment, net		32,507	46,766
Operating lease right-of-use assets		55,893	54,070
Solar power systems leased, net		47,385	50,401
Other long-term assets	[2]	344,153	696,409
Total assets		1,546,632	1,646,482
Current liabilities:
Accounts payable	[2]	158,631	166,066
Accrued liabilities	[2]	97,134	121,915
Operating lease liabilities, current portion		12,969	9,736
Contract liabilities, current portion	[2]	65,425	72,424
Short-term debt		74,071	97,059
Convertible debt, current portion	[2]	0	62,531
Total current liabilities		408,230	529,731
Long-term		58,224	56,447
Convertible debt, net of current portion	[2]	423,059	422,443
Operating lease liabilities, net of current portion		35,230	43,608
Contract liabilities, net of current portion	[2]	28,283	30,170
Other long-term liabilities		149,593	157,597
Total liabilities		1,102,619	1,239,996
Commitments and contingencies (Note 8)
Equity:
Preferred stock, $0.001 par value; 10,000 shares authorized; none issued and outstanding as of July 4, 2021 and January 3, 2021		0	0
Common stock, $0.001 par value, 367,500 shares authorized; 186,119 shares issued, and 172,842 shares outstanding as of July 4, 2021; 183,442 shares issued, and 170,428 shares outstanding as of January 3, 2021		172	170
Additional paid-in capital		2,703,647	2,685,920
Accumulated deficit		(2,058,032)	(2,085,246)
Accumulated other comprehensive income		9,389	8,799
Treasury stock, at cost: 13,277 shares of common stock as of July 4, 2021; 13,014 shares of common stock as of January 3, 2021		(211,931)	(205,476)
Total stockholders' equity		443,245	404,167
Noncontrolling interests in subsidiaries		768	2,319
Total equity		444,013	406,486
Total liabilities and equity		$ 1,546,632	$ 1,646,482
[1]	Amounts included in the "Restricted cash and cash equivalents, current portion" and "Restricted cash and cash equivalents, net of current portion" financial statement line items on our unaudited condensed consolidated balance sheets include cash balances set aside for various financial obligations including loans, distributions, letter of credit facilities, and other projects' related cash transactions
[2]	We have related-party balances for transactions made with TotalEnergies SE and its affiliates, Maxeon Solar Technologies, Ltd. ("

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parentheticals) - $ / shares	Jul. 04, 2021	Jan. 03, 2021
Statement of Financial Position [Abstract]
Preferred stock par value (in dollars per share)	$ 0.001	$ 0.001
Preferred stock shares authorized (in shares)	10,000,000	10,000,000
Preferred stock shares issued (in shares)	0	0
Preferred stock shares outstanding (in shares)	0	0
Common stock par value (in dollars per share)	$ 0.001	$ 0.001
Common stock shares authorized (in shares)	367,500,000	367,500,000
Common stock shares issued (in shares)	186,119,000	183,442,000
Common stock shares outstanding (in shares)	172,842,000	170,428,000
Common stock shares held as treasury stock (in shares)	13,277,000	13,014,000

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands		3 Months Ended		6 Months Ended
		Jul. 04, 2021	Jun. 28, 2020	Jul. 04, 2021	Jun. 28, 2020
Revenues:
Revenue		$ 308,927	$ 217,667	$ 615,325	$ 508,213
Cost of revenues:
Cost of Revenue		247,896	192,015	504,420	453,377
Gross profit		61,031	25,652	110,905	54,836
Operating expenses:
Research and development	[1]	4,711	5,994	9,726	13,762
Sales, general, and administrative	[1]	56,730	36,014	104,474	76,731
Restructuring charges		808	1,259	4,574	2,835
(Gain) loss on sale and impairment of residential lease assets		(68)	141	(294)	(133)
Gain on business divestitures, net		(224)	(10,458)	(224)	(10,458)
Income from transition services agreement, net	[1]	(1,656)	0	(4,743)	0
Total operating expenses		60,301	32,950	113,513	82,737
Operating income (loss)		730	(7,298)	(2,608)	(27,901)
Other income (expense), net:
Interest income		114	174	166	578
Interest expense	[1]	(7,721)	(8,448)	(15,686)	(17,641)
Other, net		84,071	71,205	40,600	121,643
Other income, net		76,464	62,931	25,080	104,580
Income from continuing operations before income taxes and equity in earnings of unconsolidated investees		77,194	55,633	22,472	76,679
(Provision for) benefit from income taxes	[1]	(2,425)	(1,106)	2,799	(1,991)
Net income from continuing operations		74,769	54,527	25,271	74,688
Loss from discontinued operations before income taxes and equity in losses of unconsolidated investees		0	(33,278)	0	(54,838)
Provision for income taxes from discontinued operations		0	(1,962)	0	(2,946)
Equity in losses of unconsolidated investees		0	(889)	0	(644)
Net loss from discontinued operations, net of taxes		0	(36,129)	0	(58,428)
Net income		74,769	18,398	25,271	16,260
Net loss from continuing operations attributable to noncontrolling interests		438	1,363	1,551	2,742
Net income from discontinued operations attributable to noncontrolling interests		0	(383)	0	(1,055)
Net loss attributable to noncontrolling interests		438	980	1,551	1,687
Net income from continuing operations attributable to stockholders		75,207	55,890	26,822	77,430
Net loss from discontinued operations attributable to stockholders		0	(36,512)	0	(59,483)
Net income attributable to stockholders		$ 75,207	$ 19,378	$ 26,822	$ 17,947
Net income (loss) per share attributable to stockholders - basic:
Continuing operations (in dollars per share)		$ 0.44	$ 0.33	$ 0.16	$ 0.46
Discontinued operations (in dollars per share)		0	(0.21)	0	(0.35)
Net income per share - basic (in dollars per share)		0.44	0.12	0.16	0.11
Net income (loss) per share attributable to stockholders - diluted:
Continuing operations (in dollars per share)		0.40	0.31	0.15	0.44
Discontinued operations (in dollars per share)		0	(0.19)	0	(0.33)
Net income (loss) per share - diluted (in dollars per share)		$ 0.40	$ 0.12	$ 0.15	$ 0.11
Weighted-average shares:
Basic (in shares)		172,640	170,003	171,920	169,413
Diluted (in shares)		194,363	192,040	176,794	179,174
Solar power systems, components, and other
Revenues:
Revenue	[1]	$ 303,408	$ 212,408	$ 604,645	$ 497,697
Cost of revenues:
Cost of Revenue	[1]	246,053	189,868	500,157	448,505
Residential leasing
Revenues:
Revenue		1,354	1,329	2,474	2,653
Cost of revenues:
Cost of Revenue		678	1,217	1,279	2,513
Solar services
Revenues:
Revenue		4,165	3,930	8,206	7,863
Cost of revenues:
Cost of Revenue		$ 1,165	$ 930	$ 2,984	$ 2,359
[1]	We have related-party transactions with TotalEnergies SE and its affiliates, Maxeon Solar, and unconsolidated entities in which we have a direct equity investment. These related-party transactions are recorded within the "revenue: solar power systems, components, and other," "cost of revenue: solar power systems, components, and other," "operating expenses: research and development," "operating expenses: sales, general and administrative," "operating expenses: income transition services agreement, net," and "other income (expense), net: interest expense," "(provision for) benefit from income taxes" financial statement line items in our unaudited condensed consolidated statements of operations (see Note 2, Note 9, and Note 11).

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 04, 2021	Jun. 28, 2020	Jul. 04, 2021	Jun. 28, 2020
Statement of Comprehensive Income [Abstract]
Net income	$ 74,769	$ 18,398	$ 25,271	$ 16,260
Components of other comprehensive income:
Translation adjustment	6	909	4	134
Net change in derivatives	423	(2,626)	570	(938)
Net loss on long-term pension liability obligation	0	0	0	(49)
Provision for income taxes	63	141	16	0
Total other comprehensive income (loss)	492	(1,576)	590	(853)
Total comprehensive income	75,261	16,822	25,861	15,407
Comprehensive income attributable to noncontrolling interests	438	980	1,551	1,687
Comprehensive income attributable to stockholders	$ 75,699	$ 17,802	$ 27,412	$ 17,094

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Equity - USD ($) $ in Thousands		Total	Total Stockholders’ Equity	Common Stock	Additional Paid-in Capital	Treasury Stock	Accumulated Other Comprehensive Income (Loss)	Accumulated Deficit	Noncontrolling Interests in Subsidiaries
Common stock, outstanding, beginning balance (in shares) at Dec. 29, 2019				168,121,000
Stockholders' equity, beginning of period at Dec. 29, 2019		$ 21,499	$ 10,163	$ 168	$ 2,661,819	$ (192,633)	$ (9,512)	$ (2,449,679)	$ 11,336
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)		(2,138)	(1,431)					(1,431)	(707)
Other comprehensive income (loss)		723	723				723
Issuance of restricted stock to employees, net of cancellations (in shares)				2,452,000
Issuance of restricted stock to employees, net of cancellations		3	3	$ 3
Stock-based compensation expense		6,885	6,885		6,885
Purchases of treasury stock (in shares)				(818,000)
Purchases of treasury stock		(6,911)	(6,911)	$ (1)		(6,910)
Common stock, outstanding, ending balance (in shares) at Mar. 29, 2020				169,755,000
Stockholders' equity, end of period at Mar. 29, 2020		20,061	9,432	$ 170	2,668,704	(199,543)	(8,789)	(2,451,110)	10,629
Common stock, outstanding, beginning balance (in shares) at Dec. 29, 2019				168,121,000
Stockholders' equity, beginning of period at Dec. 29, 2019		21,499	10,163	$ 168	2,661,819	(192,633)	(9,512)	(2,449,679)	11,336
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Other comprehensive income (loss)		(853)
Common stock, outstanding, ending balance (in shares) at Jun. 28, 2020				170,059,000
Stockholders' equity, end of period at Jun. 28, 2020		41,305	31,656	$ 170	2,674,379	(200,796)	(10,365)	(2,431,732)	9,649
Common stock, outstanding, beginning balance (in shares) at Mar. 29, 2020				169,755,000
Stockholders' equity, beginning of period at Mar. 29, 2020		20,061	9,432	$ 170	2,668,704	(199,543)	(8,789)	(2,451,110)	10,629
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)		18,398	19,378					19,378	(980)
Other comprehensive income (loss)		(1,576)	(1,576)				(1,576)
Issuance of restricted stock to employees, net of cancellations (in shares)				533,000
Stock-based compensation expense		5,675	5,675		5,675
Purchases of treasury stock (in shares)				(229,000)
Purchases of treasury stock		(1,253)	(1,253)			(1,253)
Common stock, outstanding, ending balance (in shares) at Jun. 28, 2020				170,059,000
Stockholders' equity, end of period at Jun. 28, 2020		$ 41,305	31,656	$ 170	2,674,379	(200,796)	(10,365)	(2,431,732)	9,649
Common stock, outstanding, beginning balance (in shares) at Jan. 03, 2021		170,428,000		170,428,000
Stockholders' equity, beginning of period at Jan. 03, 2021		$ 406,486	404,167	$ 170	2,685,920	(205,476)	8,799	(2,085,246)	2,319
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)		(49,498)	(48,385)					(48,385)	(1,113)
Other comprehensive income (loss)		98	98				98
Issuance of restricted stock to employees, net of cancellations (in shares)				1,908,000
Issuance of restricted stock to employees, net of cancellations		2	2	$ 2
Stock-based compensation expense	[1]	5,437	5,437		5,437
Bond/debentures conversion (in shares)				4,000
Bond/debentures conversion		155	155		155
Purchases of treasury stock (in shares)				(76,000)
Purchases of treasury stock		(2,120)	(2,120)			(2,120)
Other adjustments		303	303		(89)			392
Common stock, outstanding, ending balance (in shares) at Apr. 04, 2021				172,264,000
Stockholders' equity, end of period at Apr. 04, 2021		$ 360,863	359,657	$ 172	2,691,423	(207,596)	8,897	(2,133,239)	1,206
Common stock, outstanding, beginning balance (in shares) at Jan. 03, 2021		170,428,000		170,428,000
Stockholders' equity, beginning of period at Jan. 03, 2021		$ 406,486	404,167	$ 170	2,685,920	(205,476)	8,799	(2,085,246)	2,319
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Other comprehensive income (loss)		$ 590
Common stock, outstanding, ending balance (in shares) at Jul. 04, 2021		172,842,000		172,842,000
Stockholders' equity, end of period at Jul. 04, 2021		$ 444,013	443,245	$ 172	2,703,647	(211,931)	9,389	(2,058,032)	768
Common stock, outstanding, beginning balance (in shares) at Apr. 04, 2021				172,264,000
Stockholders' equity, beginning of period at Apr. 04, 2021		360,863	359,657	$ 172	2,691,423	(207,596)	8,897	(2,133,239)	1,206
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)		74,769	75,207					75,207	(438)
Other comprehensive income (loss)		492	492				492
Issuance of restricted stock to employees, net of cancellations (in shares)				664,000
Issuance of common stock to executive (in shares)	[2]			101,000
Issuance of common stock to executive	[2]	2,999	2,999		2,999
Stock-based compensation expense	[1]	9,225	9,225		9,225
Purchases of treasury stock (in shares)				(187,000)
Purchases of treasury stock		(4,310)	(4,310)			(4,310)
Other adjustments		$ (25)	(25)			(25)
Common stock, outstanding, ending balance (in shares) at Jul. 04, 2021		172,842,000		172,842,000
Stockholders' equity, end of period at Jul. 04, 2021		$ 444,013	$ 443,245	$ 172	$ 2,703,647	$ (211,931)	$ 9,389	$ (2,058,032)	$ 768
[1]	Stock-based compensation expense includes a recharge to Maxeon Solar of $0.8 million and $0.4 million for the three and six months ended July 4, 2021, respectively, under the collaboration agreement (see Note 11. Related-Party Transactions ).
[2]	Refer to Note 11. Related-Party Transactions for details.

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands		6 Months Ended
		Jul. 04, 2021		Jun. 28, 2020
Cash flows from operating activities:
Net income		$ 25,271		$ 16,260
Adjustments to reconcile net income to net cash used in operating activities:
Depreciation and amortization		5,817		33,810
Stock-based compensation		15,050		12,746
Non-cash interest expense		3,155		3,748
Equity in losses of unconsolidated investees		0		644
Gain on equity investments		(39,016)		(120,214)
Gain on retirement of convertible debt		0		(2,956)
Gain on sale of investments		(1,162)		0
Gain on business divestitures, net		(224)		(10,458)
Deferred income taxes		(1,637)		1,032
Other, net		(6,215)		3,995
Changes in operating assets and liabilities:
Accounts receivable		(2,909)		58,909
Contract assets		24,498		(2,869)
Inventories		1,825		(6,725)
Project assets		6,305		(11,905)
Prepaid expenses and other assets		5,180		28,038
Operating lease right-of-use assets		6,365		7,786
Advances to suppliers		(3,284)		12,029
Accounts payable and other accrued liabilities		(42,229)		(126,236)
Contract liabilities		(8,554)		(50,454)
Operating lease liabilities		(6,589)		(6,022)
Net cash used in operating activities		(18,353)		(158,842)
Cash flows from investing activities:
Purchases of property, plant, and equipment		(6,894)		(10,805)
Proceeds from sale of property, plant, and equipment		900		0
Cash paid for solar power systems		(635)		(2,647)
Cash received from sale of investments		1,200		0
Proceeds from business divestitures, net of de-consolidated cash		10,516		15,417
Proceeds from return of capital from equity investments		2,276		53,873
Net cash provided by investing activities		7,363		55,838
Cash flows from financing activities:
Proceeds from bank loans and other debt		95,396		121,498
Repayment of bank loans and other debt		(103,573)		(119,335)
Proceeds from issuance of non-recourse residential and commercial financing, net of issuance costs		0		10,644
Repayment of non-recourse residential and commercial financing debt		(9,798)		0
Repayment of convertible debt		(62,757)		(87,141)
Receipt of contingent asset of a prior business combination		0		2,234
Issuance of common stock to executive		2,998		0
Equity offering costs paid		0		(928)
Purchases of stock for tax withholding obligations on vested restricted stock		(6,453)		(8,381)
Net cash used in financing activities		(84,187)		(81,409)
Effect of exchange rate changes on cash, cash equivalents, and restricted cash		0		114
Net decrease in cash, cash equivalents, and restricted cash		(95,177)		(184,299)
Cash, cash equivalents, and restricted cash, Beginning of period		246,804		458,657
Cash, cash equivalents, and restricted cash, End of period		151,627		274,358
Reconciliation of cash, cash equivalents, and restricted cash to the unaudited condensed consolidated balance sheets:
Cash and cash equivalents		140,462		235,307
Restricted cash and cash equivalents, current portion		5,818	[1]	30,631
Restricted cash and cash equivalents, net of current portion		5,347	[1]	8,420
Total cash, cash equivalents, and restricted cash		151,627		274,358
Supplemental disclosure of cash flow information:
Costs of solar power systems funded by liabilities		0		1,716
Property, plant and equipment acquisitions funded by liabilities		1,174		5,452
Right-of-use assets obtained in exchange for lease obligations		11,528		13,424
Deconsolidation of right-of-use assets and lease obligations		3,340		0
Debt repaid in sale of commercial projects	[2]	5,585		0
Accounts payable balances reclassified to short-term debt		0		23,933
Assumption of liabilities in connection with business divestitures		0		9,085
Holdbacks in connection with business divestitures		0		7,199
Cash paid for interest		13,527		16,523
Cash paid for income taxes		$ 20,233		$ 11,701
[1]	Amounts included in the "Restricted cash and cash equivalents, current portion" and "Restricted cash and cash equivalents, net of current portion" financial statement line items on our unaudited condensed consolidated balance sheets include cash balances set aside for various financial obligations including loans, distributions, letter of credit facilities, and other projects' related cash transactions
[2]	Refer to Note 5. Business Divestitures

Condensed Consolidated Statem_5

Condensed Consolidated Statements of Equity (Parentheticals) - USD ($) $ in Thousands		3 Months Ended	6 Months Ended
		Jul. 04, 2021	Jul. 04, 2021
Stock-based compensation expense	[1]	$ (9,225)
Maxeon Solar
Stock-based compensation expense		$ (800)	$ (400)
[1]	Stock-based compensation expense includes a recharge to Maxeon Solar of $0.8 million and $0.4 million for the three and six months ended July 4, 2021, respectively, under the collaboration agreement (see Note 11. Related-Party Transactions ).

Organization and Summary of Sig

Organization and Summary of Significant Accounting Policies	6 Months Ended
	Jul. 04, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization And Summary Of Significant Accounting Policies	ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Organization SunPower Corporation (together with its subsidiaries, "SunPower," the “Company,” "we," "us," or "our") is a leading solar technology and energy services provider that delivers fully integrated solar, storage and home energy solutions to customers primarily in the United States and Canada through an array of hardware, software, and financing options and "Smart Energy" solutions. Our Smart Energy initiative is designed to add layers of intelligent control to homes, buildings, and grids—all personalized through easy-to-use customer interfaces. We are a leader in the U.S. Distributed Generation (“DG”) storage and energy services market, providing customers control over electricity consumption and resiliency during power outages while providing cost savings to homeowners, businesses, governments, schools, and utilities through multiple offerings. Our sales channels include a strong network of both installing and non-installing dealers and resellers that operate in both residential and commercial markets as well as a group of talented and driven in-house sales team within each segment engaged in direct sales to end customers. SunPower is a majority-owned subsidiary of Total Solar INTL SAS ("Total," formerly Total Solar International SAS) and Total Gaz Electricité Holdings France SAS (“Total Gaz”), each a subsidiary of TotalEnergies SE (“TotalEnergies SE,” formerly Total SE) (see “Note 2 . Transactions with Total and TotalEnergies SE ). On August 26, 2020, we completed the spin-off (the “Spin-Off”) of Maxeon Solar, a Singapore public company limited by shares, consisting of certain non-U.S. operations and assets of our former SunPower Technologies business unit. As a result of the Spin-Off, we no longer consolidate Maxeon Solar within our financial results of continuing operations. For all periods prior to the Spin-Off, the financial results of Maxeon Solar are presented as net earnings from discontinued operations on the condensed consolidated statements of operations. Liquidity We believe that our total cash and cash equivalents will be sufficient to meet our obligations over the next 12 months from the date of issuance of these financial statements. In addition, we have historically been successful in generating liquidity by divesting certain investments, such as our shares of Enphase Energy Inc. ("Enphase") common stock, as well as other non-core assets; securing other sources of financing, such as accessing the capital markets; and implementing other cost reduction initiatives such as restructuring, to address our liquidity needs. Although we have historically been able to generate liquidity, we cannot assure that we will be able to continue to do so. Basis of Presentation and Preparation Principles of Consolidation The accompanying unaudited condensed consolidated financial statements have been prepared by us in accordance with generally accepted accounting principles in the United States ("United States" or "U.S.," and such accounting principles, "U.S. GAAP") for interim financial information, and include the accounts of SunPower, all of our subsidiaries and special purpose entities, as appropriate under U.S. GAAP. All intercompany transactions and balances have been eliminated in consolidation. The financial information included herein is unaudited, and reflects all adjustments which are, in the opinion of our management, of a normal recurring nature and necessary for a fair statement of the results for the periods presented. The January 3, 2021 consolidated balance sheet data was derived from SunPower’s audited consolidated financial statements included in our Annual Report on Form 10-K for the fiscal year ended January 3, 2021, as filed with the Securities and Exchange Commission ("SEC") on February 22, 2021 but does not include all disclosures required by U.S. GAAP. The unaudited condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes thereto included in SunPower's Annual Report on Form 10-K for the fiscal year ended January 3, 2021. The operating results for the three and six months ended July 4, 2021 are not necessarily indicative of the results that may be expected for fiscal year 2021, or for any other future period. We have 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. The current fiscal year, fiscal 2021, is a 52-week fiscal year, while fiscal year 2020 was a 53-week fiscal year. The second quarter of fiscal 2021 ended on July 4, 2021, while the second quarter of fiscal 2020 ended on June 28, 2020. Management Estimates The preparation of the unaudited condensed consolidated financial statements in conformity with U.S. GAAP requires our management to make estimates and assumptions that affect the amounts reported in these unaudited condensed consolidated financial statements and accompanying notes. Significant estimates in these unaudited condensed consolidated financial statements include revenue recognition, specifically the nature and timing of satisfaction of performance obligations, standalone selling price of performance obligations, and variable consideration; credit losses, including estimating macroeconomic factors affecting historical recovery rate of receivables; inventory and project asset write-downs; long-lived asset impairment, specifically estimates for valuation assumptions including discount rates and future cash flows; fair value of investments, including equity investments for which we apply the fair value option and other financial instruments; valuation of contingencies such as warranty and litigation; the incremental borrowing rate used in discounting of lease liabilities; the fair value of indemnities provided to customers and other parties; and income taxes and tax valuation allowances. Actual results could materially differ from those estimates. Summary of Selected Significant Accounting Policies Refer to our Annual Report on Form 10-K for the fiscal year ended January 3, 2021 for the full list of our significant accounting policies. Recently Adopted Accounting Pronouncements In December 2019, the FASB issued ASU 2019-12, Simplifying the Accounting for Income Taxes , which simplifies the accounting for income taxes, eliminates certain exceptions within ASC 740, Income Taxes , and clarifies certain aspects of the current guidance to promote consistency among reporting entities. Most amendments within the standard are required to be applied on a prospective basis, while certain amendments must be applied on a retrospective or modified retrospective basis. We adopted the ASU during the first quarter of fiscal 2021. The adoption did not have a material impact on our consolidated financial statements. In January 2021, the FASB issued ASU 2021-01, Reference Rate Reform (Topic 848): Scope . The ASU is an update to ASU 2020-04 issued by the FASB in March 2020 and is intended to clarify the scope of ASC 848 to include derivatives that are affected by a change in the interest rate used for margining, discounting, or contract price alignment that do not also reference LIBOR or another reference rate expected to be discontinued as a result of reference rate reform. This guidance is effective immediately upon issuance on January 7, 2021. We adopted the ASU during the first quarter of fiscal 2021. The adoption did not have any impact on our consolidated financial statements and related disclosures. Recent Accounting Pronouncements Not Yet Adopted In August 2020, the FASB issued ASU 2020-06, Debt—Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging—Contracts in Entity’s Own Equity (Subtopic 815-40)—Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity. The amendment reduces the number of accounting models used for convertible debt instruments and convertible preferred stock, which results in fewer embedded conversion features separately recognized from the host contracts. ASU 2020-06 is effective no later than the first quarter of fiscal 2022. Early adoption is permitted no earlier than the first quarter of fiscal 2021, and the ASU should be applied retrospectively. We are currently evaluating the impacts of the provisions of ASU 2020-06 on our financial statements and disclosures.

Transactions With Total and Tot

Transactions With Total and Total Energies SE	6 Months Ended
	Jul. 04, 2021
Related Party Transactions [Abstract]
Transactions With Total and Total Energies SE	TRANSACTIONS WITH TOTAL AND TOTALENERGIES SE In June 2011, Total completed a cash tender offer to acquire 60% of our then outstanding shares of common stock at a price of $23.25 per share, for a total cost of approximately $1.4 billion. In December 2011, we entered into a Private Placement Agreement with Total, under which Total purchased, and we issued and sold, 18.6 million shares of our common stock for a purchase price of $8.80 per share, thereby increasing Total's ownership to approximately 66% of our outstanding common stock as of that date. As of July 4, 2021, ownership of our outstanding common stock by TotalEnergies SE and its affiliates was approximat ely 51%. Subsequent to the Spin-Off, Total received a pro rata distribution of ordinary shares of Maxeon Solar, and its percentage ownership of shares in SunPower did not change. Supply Agreements In December 2019, we sold our membership interests in certain project companies that hold commercial solar power plant projects to Total Strong, LLC, a joint venture between Total and Hannon Armstrong Sustainable Infrastructure Capital, Inc. (“Hannon Armstrong”) . During the three and six months ended July 4, 2021, we recognized revenue of $22.3 million and $37.4 million, respectively, for sales to this joint venture, for continued recognition of engineering, procurement and construction ("EPC") revenue during the quarter, which is included within "Solar power systems, components, and other" on our consolidated statements of operations. Affiliation Agreement In April 2011, we and Total entered into an Affiliation Agreement that governs the relationship between Total and us (the "Affiliation Agreement"). Until the expiration of a standstill period specified in the Affiliation Agreement (the "Standstill Period"), and subject to certain exceptions, Total, TotalEnergies SE, and any of their respective affiliates and certain other related parties (collectively, 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 our shares in excess of certain thresholds, or request us or our independent directors, officers, or employees to amend or waive any of the standstill restrictions applicable to the Total Group. The Standstill Period ends when Total holds less than 15% ownership of us. 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 our outstanding voting power and imposes certain limitations on the Total Group's ability to transfer 40% or more of our outstanding shares or voting power to a single person or group that is not a direct or indirect subsidiary of TotalEnergies SE. 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 our board of directors (the "Board"). The Affiliation Agreement provides Total with the right to maintain its percentage ownership in connection with any new securities issued by us, 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 restrictions with respect to our and our Board's 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. On April 19, 2021, we entered into an amendment to the Affiliation Agreement with Total (the “Affiliation Agreement Amendment”). The Affiliation Agreement Amendment provides that our Board will include 11 members, composed of our president and chief executive officer, our immediate past chief executive officer, ("Mr. Werner"), six directors designated by Total, and three non-Total-designated directors. If the ownership of our voting securities by Total, together with the controlled subsidiaries of TotalEnergies SE, declines below certain thresholds, the number of members of the Board that Total is entitled to designate will be reduced as set forth in the Affiliation Agreement. The Affiliation Agreement Amendment further provides that, on November 1, 2021 (or such earlier date as may be designated by the Board), Mr. Werner will resign, and Total will as promptly as practicable cause one of the Total designees to resign, from their positions as members of the Board, and thereafter the Board will be reduced to nine authorized members. Cooperation Agreement In December 2020, we entered into a Strategic Cooperation Framework Agreement (the "Cooperation Agreement") with Total that governs the ongoing relationship between us and Total with respect to development and sale of certain future commercial solar power projects. The Cooperation Agreement lays the foundation for the potential to jointly develop certain projects and allows us and Total to expand investments in solar power projects to provide for future opportunities and investment volume. Among other things, the Cooperation Agreement provides for: • our obligation to offer and ability to sell certain projects to Total at pre-agreed model metrics; • our ability to obtain non-recourse financing of construction costs; • our ability to obtain financing of development costs as various milestones in the project development cycle are achieved; • exclusivity over our offering of various post-sale services for projects sold to Total or its affiliates; and • our right to offer EPC services on certain downstream generation projects being developed by Total. The Cooperation Agreement remains in effect until December 31, 2023, unless otherwise terminated. 0.875% Debentures Due 2021 In June 2014, we issued $400.0 million in principal amount of our 0.875% debentures due June 1, 2021. An aggregate principal amount of $250.0 million of the 0.875% debentures due 2021 was initially acquired by Total. Interest was payable semi-annually, beginning on December 1, 2014. The 0.875% debentures due 2021 were convertible into shares of our common stock at any time. When issued, the initial conversion rate in respect of the 0.875% debentures due 2021 was 20.5071 shares of common stock per $1,000 principal amount of 0.875% senior convertible debentures (which was equivalent to an initial conversion price of approximately $48.76 per share). After giving effect to the Spin-Off, effective September 1, 2020, the conversion rate was adjusted to 25.1388 shares of common stock per $1,000 principal amount of debentures (which is equivalent to a conversion price of approximately $39.78 per share). During the fiscal year ended January 3, 2021, we purchased $337.4 million of aggregated principal amount of the 0.875% debentures due 2021, including $250.0 million of principal amount representing the entire amount held by Total. In June 2021, we repaid the remaining outstanding principal amount of $62.5 million, none of which was held by Total. 4.00% Debentures Due 2023 In December 2015, we issued $425.0 million in principal amount of our 4.00% debentures due 2023. An aggregate principal amount of $100.0 million of the 4.00% debentures due 2023 was acquired by Total. Interest is payable semi-annually, beginning on July 15, 2016. The 4.00% debentures due 2023 are convertible into shares of our common stock at any time. When issued, the initial conversion rate in respect of the 4.00% debentures due 2023 was 32.7568 shares of common stock per $1,000 principal amount of debentures (which was equivalent to an initial conversion price of approximately $30.53 per share). After giving effect to the Spin-Off, effective September 1, 2020, the conversion rate adjusted to 40.1552 shares of common stock per $1,000 principal amount of debentures (which is equivalent to a conversion price of approximately $24.90 per share), which provides Total the right to acquire up to 4,015,515 shares of our common stock. Notice of the conversion rate adjustment was delivered to Wells Fargo Bank, National Association, the trustee, in accordance with the terms of the indenture governing the 4.00% debentures due 2023. The applicable conversion rate may further adjust in certain circumstances, including a fundamental change, as described in the indenture governing the 4.00% debentures due 2023. If not earlier repurchased or converted, the 4.00% debentures due 2023 mature on January 15, 2023. Joint Solar Projects with Total and Its Affiliates We enter into various EPC and operations and maintenance ("O&M") agreements relating to solar projects, including EPC and O&M services agreements relating to projects owned or partially owned by Total and its affiliates. As of July 4, 2021, we had $50.7 million of "Contract assets," $1.7 million of "Contract liabilities" and $0.3 million of "Accounts receivable, net" on our unaudited condensed consolidated balance sheets related to projects in which Total and its affiliates have a direct or indirect material interest. Related-Party Transactions with Total and Its Affiliates: The following balances and transactions are associated with transactions entered into with Total and its affiliates . As of (In thousands) July 4, 2021 January 3, 2021 Accounts receivable $ 277 $ 76 Three Months Ended Six Months Ended (In thousands) July 4, 2021 June 28, 2020 July 4, 2021 June 28, 2020 Revenue: Solar power systems, components, and other $ 22,272 $ 34,533 $ 37,377 $ 63,779 Cost of revenue: Solar power systems, components, and other 19,456 16,475 31,817 44,324 Other income: Gain on early retirement of convertible debt — — — 1,850 Interest expense: Guarantee fees incurred under the Credit Support Agreement — — — 13 Interest expense incurred on the 0.875% debentures due 2021 — 428 — 832 Interest expense incurred on the 4.00% debentures due 2023 1,000 1,000 2,000 2,000 The below table summarizes our transactions with Maxeon Solar for the three and six months ended July 4, 2021: Three Months Ended Six Months Ended (In thousands) July 4, 2021 July 4, 2021 Purchases of photovoltaic modules (recorded in cost of revenue) $ 47,192 $ 105,346 Research and development expenses reimbursement received $ 8,650 $ 18,023 Income from transition services agreement, net $ 1,656 $ 4,743 The Company had the following balances related to transactions with Maxeon Solar as of July 4, 2021: As of (In thousands) July 4, 2021 Prepaid and other current assets $ 1,996 Accrued liabilities $ 9,354 Accounts payable $ 23,562 Refer to Note 2. Transactions with Total and TotalEnergies SE. for related-party transactions with Total and its affiliates and to Note 9. Equity Investments for related-party transactions with SunStrong and SunStrong Partners. CEO Stock Purchase In connection with his commencement of employment with the company on April 19, 2021, Peter Faricy, SunPower Corporation’s Chief Executive Officer, was granted the right to purchase up to $3.0 million in shares of SunPower’s common stock based on the closing trading price on the date of purchase. For each share of common stock purchased within the 12-month period commencing on April 19, 2021, SunPower agreed to grant to Mr. Faricy one restricted stock unit (the “Matching RSUs”). The Matching RSUs vest in equal installments on each of the first two anniversaries of the last day of the calendar quarter in which Mr. Faricy purchases the related common stock. On April 26, 2021, Mr. Faricy purchased 101,730 shares of common stock for an aggregate of $3.0 million and SunPower issued the equivalent Matching RSUs .

Revenue from Contracts with Cus

Revenue from Contracts with Customers	6 Months Ended
	Jul. 04, 2021
Revenue from Contract with Customer [Abstract]
Revenue from Contracts with Customers	REVENUE FROM CONTRACTS WITH CUSTOMERS Disaggregation of Revenue The following tables represent disaggregated revenue from contracts with customers for the three and six months ended July 4, 2021 and June 28, 2020 along with the reportable segment for each category: Three Months Ended (In thousands) July 4, 2021 June 28, 2020 Category Residential, Light Commercial Commercial and Industrial Solutions Others Total Residential, Light Commercial Commercial and Industrial Solutions Others Total Solar power systems sales and EPC services $ 248,600 $ 46,038 $ 5,378 $ 300,016 $ 155,372 $ 47,858 $ (219) $ 203,011 Operations and maintenance — 2,138 1,254 3,392 — 2,136 7,261 9,397 Residential leasing 1,354 — — 1,354 1,329 — — 1,329 Solar services 4,165 — — 4,165 3,605 325 — 3,930 Total revenues $ 254,119 $ 48,176 $ 6,632 $ 308,927 $ 160,306 $ 50,319 $ 7,042 $ 217,667 Six Months Ended (In thousands) July 4, 2021 June 28, 2020 Category Residential, Light Commercial Commercial and Industrial Solutions Others Total Residential, Light Commercial Commercial and Industrial Solutions Others Total Solar power systems sales and EPC services $ 481,377 $ 109,030 $ 6,965 $ 597,372 $ 377,286 $ 95,485 $ 459 $ 473,230 Operations and maintenance — 5,408 1,865 7,273 — 4,697 19,770 24,467 Residential leasing 2,474 — — 2,474 2,653 — — 2,653 Solar services 8,206 — — 8,206 7,114 749 — 7,863 Total revenues $ 492,057 $ 114,438 $ 8,830 $ 615,325 $ 387,053 $ 100,931 $ 20,229 $ 508,213 We recognize revenue for sales of modules and components at the point that control transfers to the customer, which typically occurs upon shipment or delivery to the customer, depending on the terms of the contract, and we recognize revenue for operations and maintenance and solar services over the term of the service period. For EPC revenue and solar power systems sales, we commence recognizing revenue when control of the underlying system transfers to the customer and continue recognizing revenue over time as work is performed based on the ratio of costs incurred to date to the total estimated costs at completion of the performance obligations. For contracts in which we sell membership interests in certain project companies, we recognize revenue for the initial development and other solar assets at the point that control transfers to the customer, and we recognize continuing EPC revenue for work provided to the joint venture over time as work is performed. Our arrangements may contain clauses such as liquidated damages for delays or early performance bonuses, most favorable pricing, or other provisions that can either increase or decrease the transaction price. These variable amounts generally are awarded upon achievement of certain performance metrics or milestones. Variable consideration is estimated at each measurement date at its most likely amount to the extent that it is probable that a significant reversal of cumulative revenue recognized will not occur and true-ups are applied prospectively as such estimates change. Judgment is required to evaluate assumptions including the amount of net contract revenues and the total estimated costs to determine our progress towards contract completion and to calculate the corresponding amount of revenue to recognize. If estimated total costs on any contract are greater than the net contract revenues, we recognize the entire estimated loss in the period the loss becomes known. For contracts with post-installation systems monitoring and maintenance, we recognize revenue related to systems monitoring and maintenance over the non-cancellable contract term on a straight-line basis. Changes in estimates for sales of systems for EPC services occur for a variety of reasons, including but not limited to (i) construction plan accelerations or delays, (ii) product cost forecast changes, (iii) change orders, or (iv) changes in other information used to estimate costs. Changes in estimates may have a material effect in our consolidated statements of operations. The table below outlines the impact on revenue of net changes in estimated transaction prices and input costs for systems related sales contracts (both increases and decreases) for the three and six months ended July 4, 2021 and June 28, 2020 as well as the number of projects that comprise such changes. For purposes of the following table, only projects with changes in estimates that have an impact on revenue and or cost of at least $1.0 million, calculated on a quarterly basis during the periods, were presented. Also included in the table is the net change in estimate as a percentage of the aggregate revenue for such projects. Three Months Ended Six Months Ended (In thousands, except number of projects) July 4, 2021 June 28, 2020 July 4, 2021 June 28, 2020 Increase (decrease) in revenue from net changes in transaction prices $ 2,131 $ (308) $ 2,131 $ (308) Increase (decrease) in revenue from net changes in input cost estimates (2,084) 1,082 (2,084) (51) Net increase (decrease) in revenue from net changes in estimates $ 47 $ 774 $ 47 $ (359) Number of projects 3 1 3 2 Net change in estimate as a percentage of aggregate revenue for associated projects 0.6 % 11.5 % 0.6 % (0.3) % Contract Assets and Liabilities Contract assets consist of (i) retainage which represents the earned, but unbilled, portion of a construction and development project for which payment is deferred by the customer until certain contractual milestones are met; and (ii) unbilled receivables which represent revenue that has been recognized in advance of billing the customer, which is common for long-term construction contracts. Contract liabilities consist of deferred revenue and customer advances, which represent consideration received from a customer prior to transferring control of goods or services to the customer under the terms of a sales contract. Refer to Note 4. Balance Sheet Components for further details. Total contract assets and contract liabilities balances as of the respective dates are as follows: As of (In thousands) July 4, 2021 January 3, 2021 Contract Assets $ 98,304 $ 122,802 Contract Liabilities 93,709 102,594 During the three and six months ended July 4, 2021, the decrease in contract assets of $24.0 million and $24.5 million, respectively, was primarily driven by a settlement for milestone accomplishment for one legacy power plant project, as well as a collection of variable consideration on a power plant development project sold in prior years. During the three and six months ended June 28, 2020, the increase and decrease in contract assets of $2.9 million and $32.8 million, respectively, was primarily driven by billings for commercial projects where certain milestones had been reached as well as changes in estimates of variable consideration due for previous sales of certain power plant projects. During the three months ended July 4, 2021, the increase in contract liabilities of $4.6 million was primarily due to the increase in milestone payments from customers. During the six months ended July 4, 2021, decrease of $8.9 million was due to the attainment of milestones billings for various projects. During the three and six months ended June 28, 2020, the decrease in contract liabilities of $25.1 million and $36.5 million, respectively, was primarily due to the utilization of customer advances. During the three and six months ended July 4, 2021, we recognized revenue of $30.9 million and $37.4 million, respectively, that was included in contract liabilities as of April 4, 2021 and January 3, 2021, respectively. During the three and six months ended June 28, 2020, we recognized revenue of $30.1 million and $60.9 million, respectively, that was included in contract liabilities as of March 29, 2020 and December 29, 2019, respectively. The following table represents the average percentage of completion as of July 4, 2021 for EPC agreements for projects that we are constructing. We expect to recognize $122.2 million of revenue upon transfer of control of the projects. Project Revenue Category EPC Contract/Partner Developed Project Expected Year Revenue Recognition Will Be Completed Average Percentage of Revenue Recognized Various Distribution Generation Projects Solar power systems sales and EPC services Various 2023 93.4 % As of July 4, 2021, we have entered into contracts with customers for sales of modules and components for an aggregate transaction price of $281.5 million, the substantial majority of which we expect to recognize over the next 12 months.

Balance Sheet Components

Balance Sheet Components	6 Months Ended
	Jul. 04, 2021
Balance Sheet Related Disclosures [Abstract]
Balance Sheet Components	BALANCE SHEET COMPONENTS Accounts Receivable, Net As of (In thousands) July 4, 2021 January 3, 2021 Accounts receivable, gross 1 $ 125,726 $ 124,402 Less: allowance for credit losses (14,997) (15,379) Less: allowance for sales returns (279) (159) Accounts receivable, net $ 110,450 $ 108,864 1 A lien exists on $63.2 million of our consolidated accounts receivable, gross, as of July 4, 2021 in connection with a Loan and Security Agreement entered into on March 29, 2019. See Note 10. Debt and Credit Sources . Allowance for Credit Losses Three Months Ended Six Months Ended (In thousands) July 4, 2021 June 28, 2020 July 4, 2021 June 28, 2020 Balance at beginning of period $ 14,846 $ 19,176 $ 15,379 $ 17,208 Provision for credit losses 239 619 191 2,587 Write-offs (88) (310) (573) (310) Balance at end of period $ 14,997 $ 19,485 $ 14,997 $ 19,485 Inventories As of (In thousands) July 4, 2021 January 3, 2021 Photo-voltaic modules $ 180,779 $ 170,013 Microinverters 15,419 16,774 Energy Storage 20,634 4,548 Other solar power system component materials 19,011 19,247 Inventories 1 2 3 $ 235,843 $ 210,582 1 A lien exists on $163.0 million of our gross inventory as of July 4, 2021 in connection with a Loan and Security Agreement entered into on March 29, 2019. See Note 10. Debt and Credit Sources. 2 Refer to long-term inventory for the safe harbor program under the caption "Other long-term assets." 3 Photo-voltaic modules are classified as finished goods, while the remaining components of total inventories consist of raw materials. Prepaid Expenses and Other Current Assets As of (In thousands) July 4, 2021 January 3, 2021 Deferred project costs $ 31,716 $ 26,996 VAT receivables, current portion 734 1,174 Deferred costs for solar power systems 21,927 24,526 Prepaid taxes — 205 Other 34,513 41,350 Prepaid expenses and other current assets $ 88,890 $ 94,251 Property, Plant and Equipment, Net As of (In thousands) July 4, 2021 January 3, 2021 Manufacturing equipment 1 $ 17,883 $ 17,134 Leasehold improvements 29,257 29,385 Solar power systems 8,653 30,110 Computer equipment 50,903 49,935 Furniture and fixtures 7,855 7,899 Work-in-progress 8,031 3,080 Property, plant and equipment, gross 122,582 137,543 Less: accumulated depreciation and impairment (90,075) (90,777) Property, plant and equipment, net 2 $ 32,507 $ 46,766 1 As of January 3, 2021 and July 4, 2021, manufacturing equipment is predominantly related to our equipment in our manufacturing facility in Hillsboro, Oregon. 2 Property, plant and equipment is predominantly located in the U.S. Other Long-term Assets As of (In thousands) July 4, 2021 January 3, 2021 Equity investments with readily determinable fair value $ 279,618 $ 614,148 Equity investments without readily determinable fair value 801 801 Equity investments with fair value option 8,374 9,924 Long-term inventory 1 — 27,085 Other 55,360 44,451 Other long-term assets $ 344,153 $ 696,409 1 Entire balance consists of finished goods under the safe harbor program. Refer to Note 9. Equity Investments for details . Accrued Liabilities As of (In thousands) July 4, 2021 January 3, 2021 Employee compensation and employee benefits $ 23,400 $ 23,312 Interest payable 7,922 8,796 Short-term warranty reserves 21,017 29,337 Restructuring reserve 3,148 2,808 Legal expenses 8,436 10,493 Taxes payable 2,777 25,968 Other 30,434 21,201 Accrued liabilities $ 97,134 $ 121,915 Other Long-term Liabilities As of (In thousands) July 4, 2021 January 3, 2021 Deferred revenue $ 34,756 $ 36,527 Long-term warranty reserves 45,768 52,540 Unrecognized tax benefits 12,239 12,584 Long-term pension liability 5,610 5,185 Long-term deferred tax liabilities 12,280 13,468 Other 38,940 37,293 Other long-term liabilities $ 149,593 $ 157,597 Accumulated Other Comprehensive Income As of (In thousands) July 4, 2021 January 3, 2021 Cumulative translation adjustment $ 9,639 $ 9,635 Net gain on long-term pension liability obligation (250) (250) Net gain on long-term derivative financial instrument — (570) Deferred taxes — (16) Accumulated other comprehensive income $ 9,389 $ 8,799

Business Divestiture

Business Divestiture	6 Months Ended
	Jul. 04, 2021
Discontinued Operations and Disposal Groups [Abstract]
Business Divestiture	BUSINESS DIVESTITURES Sale of Commercial Projects During the quarter ended July 4, 2021, we sold certain commercial projects including the underlying fixed assets and debt to SunStrong Capital Holdings, LLC ("SunStrong") for total consideration of $8.9 million . Upon closing, we received net cash consideration of $2.8 million after holdbacks totaling $0.4 million for certain retained obligations, and debt obligations repaid directly by the buyer totaling $5.6 million which were related to our PNC Energy Capital loan. We assessed the recoverability of these holdbacks and included our best estimate of the amount recoverable in the future in our calculation of net loss on sale. In evaluating the accounting treatment for this sale, the transaction was concluded to be a sale of a business in accordance with the guidance in ASC 805, Business Combinations . We recorded a loss of $5.1 million , inclusive of $0.1 million of transaction expenses, which was recorded and netted against "gain on business divestitures, net" in our unaudited condensed consolidated statements of operations for the three and six months ended July 4, 2021. The assets and liabilities of the commercial projects that were sold in the transaction are summarized below: (In thousands) Accounts receivable, net $ 719 Prepaid expenses, other current assets, and cash 840 Property, plant and equipment, net 12,847 Total assets 14,406 Accrued liabilities 137 Short-term debt 614 Long-term debt 4,779 Other long-term liabilities 804 Total liabilities 6,334 Net assets $ 8,072 Net proceeds received were as follows: (In thousands) Purchase price $ 8,881 Transaction costs (105) Holdback receivables (369) Debt repaid directly by buyer (5,585) Net proceeds received $ 2,822 Net loss on sale for three and six months ended July 4, 2021 was as follows: (In thousands) Net proceeds received $ 2,822 Estimated receivable from amount held back for retained obligations 184 Book value of net assets sold (8,072) Net loss on sale $ (5,066) Sale of Residential Leases During the quarter ended July 4, 2021, we sold certain residential lease solar systems to SunStrong for total consideration of $8.5 million. In evaluating the accounting treatment for this sale, the transaction was concluded to be a sale of a business in accordance with the guidance in ASC 805, Business Combinations . We recorded a gain of $5.3 million , inclusive of $0.4 million of transaction expenses, which was recorded as "gain on business divestitures, net" in our unaudited condensed consolidated statements of operations for the three and six months ended July 4, 2021. The assets and liabilities related to the residential leases that were sold are summarized below: (In thousands) Accounts receivable, net $ 253 Prepaid expenses and other current assets 825 Property, plant, and equipment, net 1,934 Solar power systems leased, net 186 Total assets 3,198 Accrued and other liabilities 106 Contract liabilities 332 Total liabilities 438 Net assets $ 2,760 Net proceeds received were as follows: (In thousands) Purchase price $ 8,500 Transaction costs (449) Net proceeds received $ 8,051 Net gain on sale for three and six months ended July 4, 2021 was as follows: (In thousands) Net proceeds received $ 8,051 Book value of net assets sold (2,760) Net gain on sale $ 5,291

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Jul. 04, 2021
Fair Value Disclosures [Abstract]
Fair Value Measurements	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 We measure 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 following table summarizes our assets and liabilities measured and recorded at fair value on a recurring basis as of July 4, 2021 and January 3, 2021: July 4, 2021 January 3, 2021 (In thousands) Total Fair Value Level 3 Level 2 Level 1 Total Fair Value Level 3 Level 2 Level 1 Assets Other long-term assets: Equity investments with fair value option ("FVO") $ 8,374 $ 8,374 $ — $ — $ 9,924 $ 9,924 $ — $ — Equity investments with readily determinable fair value 652,438 — — 652,438 614,148 — — 614,148 Total assets $ 660,812 $ 8,374 $ — $ 652,438 $ 624,072 $ 9,924 $ — $ 614,148 Liabilities Other long-term liabilities: Interest rate swap contracts 1 $ — $ — $ — $ — $ 600 $ — $ 600 $ — Total liabilities $ — $ — $ — $ — $ 600 $ — $ 600 $ — 1 Our interest rate swap contracts were related to our PNC Energy Capital loan and were terminated during the quarter (see Note 10. Debt and Credit Sources for details). Equity investments with fair value option ("FVO") We have elected the fair value option in accordance with the guidance in ASC 825, Financial Instruments , for our investment in the SunStrong joint venture and SunStrong Partners, LLC ("SunStrong Partners"), to mitigate volatility in reported earnings that results from the use of different measurement attributes (see Note 9. Equity Investments ). We initially computed the fair value for our investments consistent with the methodology and assumptions that market participants would use in their estimates of fair value with the assistance of a third-party valuation specialist. The fair value computation is updated using the same methodology on a quarterly basis considering material changes in the business of SunStrong and SunStrong Partners or other inputs. The investments are classified within Level 3 in the fair value hierarchy because we estimate the fair value of the investments using the income approach based on the discounted cash flow method which considered estimated future financial performance, including assumptions for, among others, forecasted contractual lease income, lease expenses, residual value of these lease assets and long-term discount rates, and forecasted default rates over the lease term and discount rates, some of which require significant judgment by management and are not based on observable inputs. The following table summarizes movements in equity investments for the six months ended July 4, 2021. There were no internal movements between Level 1 or Level 2 fair value measurements to or from Level 3 fair value measurements for the six months ended July 4, 2021. (In thousands) Beginning balance as of January 3, 2021 Equity Distribution 1 Additional Investment Other adjustment 2 Ending balance as of July 4, 2021 Equity investments with FVO $9,924 $(2,276) $— $ 726 $ 8,374 1 During the three months ended July 4, 2021, we received $2.3 million in cash proceeds from SunStrong Partners. The distribution reduced our equity investment balance in SunStrong Partners classified in "other long-term assets" on our unaudited condensed consolidated balance sheet. 2 During the three months ended July 4, 2021, we recognized $0.7 million gain on change in valuation of equity investments within "other, net" in our unaudited condensed consolidated statement of operations. The gain was primarily due to change in forecasted cash flows of SunStrong, resulting from the sale of certain commercial projects (Refer to Note 5. Business Divestitures ). Level 3 significant unobservable inputs sensitivity The following table summarizes the significant unobservable inputs used in Level 3 valuation of our investments carried at fair value as of July 4, 2021. Included in the table are the inputs or range of possible inputs that have an effect on the overall valuation of the financial instruments. 2021 Assets: Fair value Valuation Technique Unobservable input Range (Weighted Average) Other long-term assets: Equity investments $ 8,374 Discounted cash flows Discount rate 12.5%-13% 1 7.5% 1 Total assets $ 8,374 1 The primary unobservable inputs used in the fair value measurement of our equity investments, when using a discounted cash flow model, are the discount rate and residual value. Significant increases (decreases) in the discount rate in isolation would result in a significantly lower (higher) fair value measurement. We estimate the discount rate based on risk appropriate projected cost of equity. We estimate the residual value based on the contracted systems in place in the years being projected. Significant increases (decreases) in the residual value in isolation would result in a significantly higher (lower) fair value measurement. Equity investments with readily determinable fair value In connection with the divestment of our microinverter business to Enphase on August 9, 2018, we received 7.5 million shares of Enphase common stock (NASDAQ: ENPH). The common stock received was recorded as an equity investment with readily determinable fair value (Level 1), with changes in fair value recognized in net income in accordance with ASU 2016-01 Recognition and Measurement of Financial Assets and Liabilities. For the three and six months ended July 4, 2021, we recorde d gains of $83.0 million and $38.3 million, respe ctively, within "other, net" in our unaudited condensed consolidated statement of operations as compared to gains of $71.1 million and $119.0 million in the three and six months ended June 28, 2020. During the six months ended June 28, 2020, we sold one million shares of Enphase common stock, in open market transactions for cash proceeds of $43.7 million. Assets and Liabilities Measured at Fair Value on a Non-Recurring Basis We measure certain investments and non-financial assets (including 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. As of July 4, 2021 and January 3, 2021, there were no material items recorded at fair value on a non-recurring basis.

Restructuring

Restructuring	6 Months Ended
	Jul. 04, 2021
Restructuring and Related Activities [Abstract]
Restructuring	RESTRUCTURING January 2021 Restructuring Plan During the quarter ended April 4, 2021, we adopted a restructuring plan to realign and optimize workforce requirements concurrent with the planned closure of our manufacturing facility in Hillsboro, Oregon. In connection with the restructuring plan, which included actions to be implemented in the first quarter of 2021 and expected to be completed by the third quarter of 2021, we expected the majority of our approximately 170 primarily manufacturing employees to exit over a period of three In connection with the closure, in April 2021, we signed agreements with two independent third parties to sell certain assets and liabilities, as well as retain and engage certain employees at the facility in providing R&D services. The proceeds for the assets and sale of R&D services, together with the assumption of certain liabilities, reduced our previously anticipated restructuring charges by approximately $1.2 million. As of July 4, 2021, we had incurred cumulative costs of approximately $3.6 million in restructuring charges, primarily relating to the payment of severance benefits. The 2021 restructuring plan primarily relates to payroll for remaining employees expected to be incurred through 2022 and the end of the R&D services agreement. December 2019 Restructuring Plan During the fourth quarter of fiscal 2019, we adopted a restructuring plan to realign and optimize workforce requirements in light of changes to our business, including the Spin-Off. In connection with the restructuring plan, which included actions implemented in the fourth quarter of 2019, we expected between 145 and 160 non-manufacturing employees, representing approximately 3% of our global workforce, to exit over a period of approximately 12 to 18 months. Between 65 and 70 of these employees were expected in the legacy SunPower Technologies business unit and corporate, and most of whom exited our company following the Spin-Off, and the remainder of which exited upon completion of transition services. As the legacy SunPower Energy Services business unit refined its focus on distributed generation, storage, and energy services, 80 to 90 employees exited during the fourth fiscal quarter of 2019 and the first half of 2020. As of July 4, 2021, we had incurred cumulative costs of approximately $11.0 million in restructuring charges consisting primarily of severance and retention benefits. The 2019 restructuring plan is substantially completed. The following table summarizes the comparative periods-to-date restructuring charges by plan recognized in our unaudited condensed consolidated statements of operations: Three Months Ended Six Months Ended (In thousands) July 4, 2021 June 28, 2020 July 4, 2021 June 28, 2020 Cumulative To Date January 2021 Restructuring Plan: Severance and benefits $ (63) $ — $ 3,608 $ — $ 3,608 Other costs 1 22 — 35 — 35 Total January 2021 Restructuring Plan (41) — 3,643 — 3,643 December 2019 Restructuring Plan: Severance and benefits 847 1,249 819 2,888 10,852 Other costs 1 — — 112 — 159 Total December 2019 Restructuring Plan 847 1,249 931 2,888 11,011 Other Legacy Restructuring Plans 2 10 — (53) 68,642 Total restructuring charges $ 808 $ 1,259 $ 4,574 $ 2,835 $ 83,296 1 Other costs primarily represent associated legal and advisory services, and costs of relocating employees. The following table summarizes the restructuring reserve activities during the six months ended July 4, 2021: Six Months Ended (In thousands) January 3, 2021 Charges (Benefits) (Payments) Recoveries July 4, 2021 January 2021 Restructuring Plan: Severance and benefits $ — $ 3,608 $ (1,456) $ 2,152 Other costs 1 — 35 (35) — Total January 2021 Restructuring Plan — 3,643 (1,491) 2,152 December 2019 Restructuring Plan: Severance and benefits 2,608 819 (2,561) 866 Other costs 1 — 112 (112) — Total December 2019 Restructuring Plan 2,608 931 (2,673) 866 Other Legacy Restructuring Plans 200 — (70) 130 Total restructuring reserve activities $ 2,808 $ 4,574 $ (4,234) $ 3,148 1 Other costs primarily represent associated legal and advisory services, and costs of relocating employees.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jul. 04, 2021
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	COMMITMENTS AND CONTINGENCIES Facility and Equipment Leases We lease certain facilities under non-cancellable operating leases from third parties. We also lease certain buildings under non-cancellable finance leases. Operating leases are subject to renewal options for periods ranging from one year to ten years. We have disclosed quantitative information related to the lease contracts we have entered into as a lessee by aggregating the information based on the nature of asset such that the assets of similar characteristics and lease terms are shown within one single financial statement line item. The table below presents the summarized quantitative information with regard to lease contracts we have entered into: Three Months Ended Six Months Ended (In thousands) July 4, 2021 June 28, 2020 July 4, 2021 June 28, 2020 Operating leases: Operating lease expense $ 3,701 $ 3,516 $ 7,415 $ 6,934 Sublease income (105) (20) (211) (55) Rent expense $ 3,596 $ 3,496 $ 7,204 $ 6,879 Cash paid for amounts included in the measurement of lease liabilities Operating cash flows for operating leases $ 4,437 $ 3,888 $ 8,600 $ 7,197 Right-of-use assets obtained in exchange for leases $ — $ 963 $ 11,528 $ 13,424 Weighted-average remaining lease term (in years) - operating leases 6.3 6.7 6.3 6.7 Weighted-average discount rate - operating leases 8.8 % 9 % 8.8 % 9 % The future minimum lease payments to be paid under non-cancellable leases in effect as of July 4, 2021, are as follows (in thousands): As of July 4, 2021 Operating Leases 2021 (remaining six months) $ 8,800 2022 14,722 2023 11,899 2024 8,029 2025 4,353 Thereafter 15,473 Total lease payments 63,276 Less: imputed interest (15,077) Total $ 48,199 Purchase Commitments Future purchase obligations under non-cancellable purchase orders and long-term supply agreements as o f July 4, 2021 are as follows: (In thousands) Fiscal 2021 Fiscal 2022 Fiscal 2023 Fiscal 2024 Fiscal 2025 Thereafter Total 1 Future purchase obligations $ 149,830 $ 125,170 $ 33,148 $ 1,710 $ 775 $ 5,307 $ 315,940 1 Total future purchase obligations consisted of $26.7 million related to non-cancellable purchase orders and $289.2 million related to long-term supply agreements. The future purchase obligations presented above primarily consist of commitments to purchase photovoltaic modules pursuant to the supply agreement with Maxeon Solar entered into on August 26, 2020, as amended, as well as commitments to purchase Module-Level Power Electronics ("MLPE") supplied by one vendor. The terms of all our long-term supply agreements are reviewed annually by us and we assess the need for any accruals for estimated losses on adverse purchase commitments, such as lower of cost or net realizable value adjustments that will not be recovered by future sales prices, forfeiture of advanced deposits and liquidated damages, as necessary. Product Warranties The following table summarizes accrued warranty activities for the three and six months ended July 4, 2021 and June 28, 2020: Three Months Ended Six Months Ended (In thousands) July 4, 2021 June 28, 2020 July 4, 2021 June 28, 2020 Balance at the beginning of the period $ 72,271 $ 99,552 $ 81,877 $ 101,380 Accruals for warranties issued during the period 2,378 1,148 11,862 7,674 Settlements and adjustments during the period (7,864) (8,301) (26,954) (16,655) Balance at the end of the period $ 66,785 $ 92,399 $ 66,785 $ 92,399 In some cases, we may offer customers the option to purchase extended warranties to ensure protection beyond the standard warranty period. In those circumstances, the warranty is considered a distinct service and we account for the extended warranty as a performance obligation and allocate a portion of the transaction price to that performance obligation. More frequently, customers do not purchase a warranty separately. In those situations, we account for the warranty as an assurance-type warranty, which provides customers with assurance that the product complies with agreed-upon specifications, and this does not represent a separate performance obligation. Such warranties are recorded separately as liabilities and presented within "accrued liabilities" and "other long-term liabilities" on our unaudited condensed consolidated balance sheets (see Note 4. Balance Sheet Components ). Project Agreements with Customers Project agreements entered into with our commercial and power plant customers often require us to undertake obligations including: (i) system output performance warranties, (ii) penalty payments or customer termination rights if the system we are constructing is not commissioned within specified time frames or other milestones are not achieved, and (iii) system put rights whereby we 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 specified periods. Historically, our systems have performed significantly above their performance warranty thresholds, and there have been no cases in which we have had to buy back a system. As of July 4, 2021 and January 3, 2021, we had $8.3 million and $9.1 million, respectively, classified as "accrued liabilities," and $2.7 million and $3.1 million, respectively, classified as "other long-term liabilities" on our unaudited condensed consolidated balance sheets for such obligations. Liabilities Associated with Uncertain Tax Positions Total liabilities associated with uncertain tax positions were $12.2 million and $12.6 million as of July 4, 2021 and January 3, 2021, respectively. These amounts are included within "other long-term liabilities" on our unaudited condensed consolidated balance sheets in their respective periods as they are not expected to be paid within the next 12 months. Due to the complexity and uncertainty associated with our tax positions, we cannot make a reasonably reliable estimate of the period in which cash settlement, if any, would be made for our liabilities associated with uncertain tax positions in Other long-term liabilities. Indemnifications We are a party to a variety of agreements under which we may be obligated to indemnify the counterparty with respect to certain matters. Typically, these obligations arise in connection with contracts and license agreements or the sale of assets, under which we customarily agree 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 Section 48(c) of the Internal Revenue Code of 1986, as amended, regarding solar commercial investment tax credits ("ITCs") and U.S. Treasury Department ("U.S. Treasury") cash grant payments under Section 1603 of the American Recovery and Reinvestment Act (each a "Cash Grant"). Further, in connection with our sale of residential lease assets in fiscal 2018 to SunStrong, we provide Hannon Armstrong indemnification related to cash flow losses arising from a recapture of California property taxes on account of a change in ownership, recapture of federal tax attributes and cash flow losses from leases that do not generate the promised savings to homeowners. The maximum exposure to loss arising from the indemnification for SunStrong is limited to the consideration received for the solar power systems. In each of these circumstances, payment by us is typically subject to the other party making a claim to us that is contemplated by and valid under the indemnification provisions of the particular contract, which provisions are typically contract-specific, as well as bringing the claim under the procedures specified in the particular contract. These procedures typically allow us 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, our 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 or amount. In some instances, we may have recourse against third parties or insurance covering certain payments made by us. In certain circumstances, we are contractually obligated to compensate customers and investors for losses they may suffer as a result of reductions in benefits received under ITCs and U.S. Treasury Cash Grant programs. We apply for ITCs and Cash Grant incentives based on guidance provided by the Internal Revenue Service ("IRS") and the U.S. Treasury, which include assumptions regarding the fair value of the qualified solar power systems, among others. Certain of our development agreements, sale-leaseback arrangements, and financing arrangements with tax equity investors incorporate assumptions regarding the future level of incentives to be received, which in some instances may be claimed directly by our customers and investors. Generally, such obligations would arise as a result of reductions to the value of the underlying solar power systems as assessed by the IRS. At each balance sheet date, we assess and recognize, when applicable, the potential exposure from these obligations based on all the information available at that time, including any audits undertaken by the IRS. The maximum potential future payments that we could have to make under this obligation would depend on the difference between the eligible basis claimed on the tax filing for the solar energy systems sold or transferred to indemnified parties and the values that the IRS may determine as the eligible basis for the systems for purposes of claiming ITCs or Cash Grants. We use the eligible basis for tax filing purposes determined with the assistance of independent third-party appraisals to determine the ITCs that are passed through to and claimed by the indemnified parties. We continue to retain certain indemnities, specifically, around ITCs, Cash Grants and California property taxes, even after the underlying portfolio of assets is sold to a third party. For contracts that have such indemnification provisions, we recognize a liability under ASC 460, "Guarantees," for the estimated premium that would be required by a guarantor to issue the same guarantee in a standalone arm’s-length transaction with an unrelated party. We recognize such liabilities at the greater of the fair value of the indemnity or the contingent liability required to be recognized under ASC 450, "Contingencies." We initially estimate the fair value of any such indemnities provided based on the cost of insurance policies that cover the underlying risks being indemnified and may purchase such policies to mitigate our exposure to potential indemnification payments. After an indemnification liability is recorded, we derecognize such amount typically upon expiration or settlement of the arrangement. As of July 4, 2021, and January 3, 2021, our provision was $9.5 million and $9.4 million primarily for tax-related indemnifications. SunPower is party to various supply agreements (collectively, the “Hemlock Agreements”) with Hemlock Semiconductor Operations LLC (f/k/a Hemlock Semiconductor Corporation) and its affiliate, Hemlock Semiconductor, LLC, for the procurement of polysilicon. In connection with the Spin-Off, SunPower and Maxeon Solar entered into an agreement pursuant to which Maxeon Solar received SunPower’s rights under the Hemlock Agreements (including SunPower’s deposits and advanced payments thereunder) and, in return, Maxeon Solar agreed to perform all of SunPower’s existing and future obligations under the Hemlock Agreements (including all take-or-pay obligations). While, as we remain a party to the Hemlock Agreements, we may contractually be liable to the vendor in case of non-payment by Maxeon Solar, we do not believe we have any current or future net exposure under the Hemlock Agreements as of the quarter ended July 4, 2021. Maxeon Solar's remaining obligations under the Hemlock Agreements amount to $65.1 million and $125.8 million for the remainder of fiscal 2021 and fiscal 2022, respectively. This is gross of prepayments of $74.0 million as of July 4, 2021. This indemnity qualifies for the criteria for accounting under the guidance in ASC 460; however, as of the quarter ended July 4, 2021, the fair value of the guarantee is immaterial and therefore excluded in our unaudited condensed consolidated balance sheet. Pursuant to the Separation and Distribution Agreement entered into by us and Maxeon Solar, we also agreed to indemnify Maxeon Solar for any liabilities arising out of certain existing litigation relating to businesses contributed to Maxeon Solar in connection with the Spin-Off. We expect to be actively involved in managing this litigation together with Maxeon Solar. The indemnity qualifies for the criteria for accounting under the guidance in ASC 460 and we have recorded the liability of litigation of $6.2 million equal to the fair value of the guarantee provided as of the period ended July 4, 2021. Legal Matters We are a party to various litigation matters and claims that arise from time to time in the ordinary course of our business. While we believe that the ultimate outcome of such matters will not have a material adverse effect on us, their outcomes are not determinable and negative outcomes may adversely affect our financial position, liquidity, or results of operations.

Equity Investments

Equity Investments	6 Months Ended
	Jul. 04, 2021
Equity Method Investments and Joint Ventures [Abstract]
Equity Investments	EQUITY INVESTMENTS Our equity investments consist of equity investments with readily determinable fair value, investments without readily determinable fair value, equity investments accounted for using the fair value option, and equity method investments. Our share of earnings (losses) from equity investments accounted for under the equity method is reflected as "Equity in earnings (losses) of unconsolidated investees" in our unaudited condensed consolidated statements of operations. Mark-to-market gains and losses on equity investments are reflected as "other, net" under other income (expense), net in our unaudited condensed consolidated statements of operations. The carrying value of our equity investments, classified as "other long-term assets" on our unaudited condensed consolidated balance sheets, are as follows: As of (In thousands) July 4, 2021 January 3, 2021 Equity investments with readily determinable fair value: Enphase Energy, Inc. $ 652,438 $ 614,148 Total equity investments with readily determinable fair value 1 652,438 614,148 Equity investments without readily determinable fair value: Project entities 122 122 Other equity investments without readily determinable fair value 679 679 Total equity investments without readily determinable fair value 801 801 Equity investments with fair value option: SunStrong Capital Holdings, LLC 8,371 7,645 SunStrong Partners, LLC 3 2,279 Total equity investment with fair value option 8,374 9,924 Total equity investments $ 661,613 $ 624,873 1 As of July 4, 2021, two million shares of Enphase common stock have been reclassified to current assets as short-term investments. Variable Interest Entities ("VIEs") A VIE is an entity that has either (i) insufficient equity to permit the entity to finance its activities without additional subordinated financial support, or (ii) equity investors who lack the characteristics of a controlling financial interest. We follow guidance on the consolidation of VIEs that requires companies to utilize a qualitative approach to determine whether it is the primary beneficiary of a VIE. The process for identifying the primary beneficiary of a VIE requires consideration of the factors that indicate a party has the power to direct activities that most significantly impact the investees' economic performance, including powers granted to the investees' governing board and, to a certain extent, a company's economic interest in the investee. We analyze our investments in VIEs and classify them as either unconsolidated VIEs or consolidated VIEs ( refer to our Form 10-K for the fiscal year ended January 3, 2021 for further details on our various VIE arrangements ). Unconsolidated VIEs We have elected the FVO in accordance with the guidance in ASC 825, Financial Instruments , for our investments in SunStrong, SunStrong Partners, and 8point3 Holdings, our unconsolidated VIEs. Refer to Note 6. Fair Value Measurements . Summarized Financial Information of Unconsolidated VIEs The following table presents summarized financial statements for SunStrong, a significant investee, based on unaudited information provided to us by the investee: 1 Three Months Ended Six Months Ended (In thousands) July 4, 2021 June 28, 2020 July 4, 2021 June 28, 2020 Summarized statements of operations information: Revenue $ 32,697 $ 29,293 $ 65,794 $ 58,757 Gross income (loss) 1,007 (5,458) 2,221 (6,896) Net (loss) income 2,716 (217) (43,073) 21,423 As of (In thousands) July 4, 2021 January 3, 2021 Summarized balance sheet information: Current assets $ 90,285 $ 93,752 Long-term assets 1,476,996 1,378,382 Current liabilities 58,585 48,126 Long-term liabilities 1,181,709 1,130,484 1 Note that amounts are reported one quarter in arrears as permitted by applicable guidance. Related-Party Transactions with Investees Related-party transactions and balances with SunStrong and SunStrong Partners are as follows: As of (In thousands) July 4, 2021 January 3, 2021 Accounts receivable $ 18,107 $ 16,767 Other long-term assets 11,000 — Accrued liabilities 216 7,996 Contract liabilities 28,401 27,426 Three Months Ended Six Months Ended (In thousands) July 4, 2021 June 28, 2020 July 4, 2021 June 28, 2020 Revenues and fees received from investees for products/services $ 50,475 $ 43,257 $ 100,122 $ 99,192 Gain on business divestitures, net 1 (224) — (224) — 1 The gain relates to the net impact of the sales to SunStrong during the quarter. Refer to Note 5 . Business Divestitures for additional details on the sales. Consolidated VIEs For Solar Sail LLC ("Solar Sail") and Solar Sail Commercial Holdings, LLC ("Solar Sail Commercial"), joint ventures with Hannon Armstrong, our consolidated VIEs, total revenue was $4.2 million and $7.8 million f or the three and six months ended July 4, 2021, respectively. Total revenue was $2.8 million and $3.5 million for the three and six months ended June 28, 2020, respectively. The assets of these consolidated VIEs are restricted for use only by the particular investee and are not available for our general operations. As of July 4, 2021, we had

Debt and Credit Sources

Debt and Credit Sources	6 Months Ended
	Jul. 04, 2021
Debt Disclosure [Abstract]
Debt and Credit Sources	DEBT AND CREDIT SOURCES The following table summarizes our outstanding debt on our unaudited condensed consolidated balance sheets: July 4, 2021 January 3, 2021 (In thousands) Face Value Short-term Long-term Total Face Value Short-term Long-term Total Convertible debt: 0.875% debentures due 2021 $ — $ — $ — $ — $ 62,634 $ 62,531 $ — $ 62,531 4.00% debentures due 2023 1 424,995 — 423,059 423,059 425,000 — 422,443 422,443 CEDA loan — — — — 30,000 — 29,219 29,219 Other debt 133,683 74,071 58,224 132,295 126,283 97,059 27,228 124,287 $ 558,678 $ 74,071 $ 481,283 $ 555,354 $ 643,917 $ 159,590 $ 478,890 $ 638,480 1 The 4.00% debentures due 2023 original principal amount of $425.0 million was reduced by $5.0 thousand during the first quarter of fiscal 2021 due to a bond conversion during the quarter. As of July 4, 2021, the aggregate future contractual maturities of our outstanding debt, at face value, were as follows: (In thousands) Fiscal 2021 (remaining six months) Fiscal 2022 Fiscal 2023 Fiscal 2024 Fiscal 2025 Thereafter Total Aggregate future maturities of outstanding debt $ 75,310 $ 67 $ 425,065 $ 57,968 $ 78 $ 190 $ 558,678 Convertible Debt The following table summarizes our outstanding convertible debt: July 4, 2021 January 3, 2021 (In thousands) Carrying Value Face Value Fair Value 1 Carrying Value Face Value Fair Value 1 Convertible debt: 0.875% debentures due 2021 $ — $ — $ — $ 62,531 $ 62,634 $ 64,018 4.00% debentures due 2023 423,059 424,995 603,871 422,443 425,000 549,398 $ 423,059 $ 424,995 $ 603,871 $ 484,974 $ 487,634 $ 613,416 1 The fair value of the convertible debt was determined using Level 2 inputs based on quarterly market prices as reported by an independent pricing source. Our outstanding convertible debentures are senior, unsecured obligations ranking equally with all of our existing and future senior unsecured indebtedness. Loan Agreement with California Enterprise Development Authority ("CEDA") In 2010, we 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 Bonds mature on April 1, 2031 and bear interest at a fixed rate of 8.50% through maturity, and include customary covenants and other restrictions on us. As per the terms of the agreement, the bonds were subject to a 'make-whole' provision, wherein if retired prior to April 1, 2021, the Company has to 'make-whole' the bond holders for the full amount of unpaid interest through the term of the loan. After the make-whole provision expired in April 2021, the bonds can be retired any time at par value. In April 2021, we repaid the outstanding principal amount of our $30.0 million loan with CEDA. Other Debt We enter into other debt arrangements to finance our operations, including sometimes entering into project level non-recourse debt dependent on the needs of the various project. As of July 4, 2021, we had $132.3 million outstanding under these financings. The following presents a summary of these non-recourse financing and other debt arrangements: Aggregate Carrying Value 1 (In thousands) July 4, 2021 January 3, 2021 Balance Sheet Classification Recourse Debt: PNC Energy Capital loan 2 $ — $ 5,545 Short-term debt and Long-term debt Asset-Backed Loan $ 57,779 $ 32,690 Short-term debt and Long-term debt Safe Harbor $ 69,048 $ 75,910 Short-term debt and Long-term debt Total Recourse Debt $ 126,827 $ 114,145 Non-Recourse Debt: Vendor financing and other debt $ 5,468 $ 560 Short-term debt and Long-term debt Construction project debt $ — $ 9,583 Short-term debt Total Non-Recourse Debt $ 5,468 $ 10,143 1 Based on the nature of the debt arrangements included in the table above, and our intention to fully repay or transfer the obligations at their face values plus any applicable interest, we believe their carrying value materially approximates fair value, which is categorized within Level 3 of the fair value hierarchy. 2 In fiscal 2013, we entered into a financing agreement with PNC Energy Capital, LLC to finance our construction projects. Interest is calculated at a per annum rate equal to LIBOR plus 4.13%. These debt obligations, and corresponding interest rate swap contracts, were assumed by the buyer in our sale of commercial projects (see Note 5. Business Divestitures for additional details on the sale). Asset-Backed Loan with Bank of America

Related Party Transactions

Related Party Transactions	6 Months Ended
	Jul. 04, 2021
Related Party Transactions [Abstract]
Related Party Transactions	TRANSACTIONS WITH TOTAL AND TOTALENERGIES SE In June 2011, Total completed a cash tender offer to acquire 60% of our then outstanding shares of common stock at a price of $23.25 per share, for a total cost of approximately $1.4 billion. In December 2011, we entered into a Private Placement Agreement with Total, under which Total purchased, and we issued and sold, 18.6 million shares of our common stock for a purchase price of $8.80 per share, thereby increasing Total's ownership to approximately 66% of our outstanding common stock as of that date. As of July 4, 2021, ownership of our outstanding common stock by TotalEnergies SE and its affiliates was approximat ely 51%. Subsequent to the Spin-Off, Total received a pro rata distribution of ordinary shares of Maxeon Solar, and its percentage ownership of shares in SunPower did not change. Supply Agreements In December 2019, we sold our membership interests in certain project companies that hold commercial solar power plant projects to Total Strong, LLC, a joint venture between Total and Hannon Armstrong Sustainable Infrastructure Capital, Inc. (“Hannon Armstrong”) . During the three and six months ended July 4, 2021, we recognized revenue of $22.3 million and $37.4 million, respectively, for sales to this joint venture, for continued recognition of engineering, procurement and construction ("EPC") revenue during the quarter, which is included within "Solar power systems, components, and other" on our consolidated statements of operations. Affiliation Agreement In April 2011, we and Total entered into an Affiliation Agreement that governs the relationship between Total and us (the "Affiliation Agreement"). Until the expiration of a standstill period specified in the Affiliation Agreement (the "Standstill Period"), and subject to certain exceptions, Total, TotalEnergies SE, and any of their respective affiliates and certain other related parties (collectively, 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 our shares in excess of certain thresholds, or request us or our independent directors, officers, or employees to amend or waive any of the standstill restrictions applicable to the Total Group. The Standstill Period ends when Total holds less than 15% ownership of us. 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 our outstanding voting power and imposes certain limitations on the Total Group's ability to transfer 40% or more of our outstanding shares or voting power to a single person or group that is not a direct or indirect subsidiary of TotalEnergies SE. 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 our board of directors (the "Board"). The Affiliation Agreement provides Total with the right to maintain its percentage ownership in connection with any new securities issued by us, 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 restrictions with respect to our and our Board's 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. On April 19, 2021, we entered into an amendment to the Affiliation Agreement with Total (the “Affiliation Agreement Amendment”). The Affiliation Agreement Amendment provides that our Board will include 11 members, composed of our president and chief executive officer, our immediate past chief executive officer, ("Mr. Werner"), six directors designated by Total, and three non-Total-designated directors. If the ownership of our voting securities by Total, together with the controlled subsidiaries of TotalEnergies SE, declines below certain thresholds, the number of members of the Board that Total is entitled to designate will be reduced as set forth in the Affiliation Agreement. The Affiliation Agreement Amendment further provides that, on November 1, 2021 (or such earlier date as may be designated by the Board), Mr. Werner will resign, and Total will as promptly as practicable cause one of the Total designees to resign, from their positions as members of the Board, and thereafter the Board will be reduced to nine authorized members. Cooperation Agreement In December 2020, we entered into a Strategic Cooperation Framework Agreement (the "Cooperation Agreement") with Total that governs the ongoing relationship between us and Total with respect to development and sale of certain future commercial solar power projects. The Cooperation Agreement lays the foundation for the potential to jointly develop certain projects and allows us and Total to expand investments in solar power projects to provide for future opportunities and investment volume. Among other things, the Cooperation Agreement provides for: • our obligation to offer and ability to sell certain projects to Total at pre-agreed model metrics; • our ability to obtain non-recourse financing of construction costs; • our ability to obtain financing of development costs as various milestones in the project development cycle are achieved; • exclusivity over our offering of various post-sale services for projects sold to Total or its affiliates; and • our right to offer EPC services on certain downstream generation projects being developed by Total. The Cooperation Agreement remains in effect until December 31, 2023, unless otherwise terminated. 0.875% Debentures Due 2021 In June 2014, we issued $400.0 million in principal amount of our 0.875% debentures due June 1, 2021. An aggregate principal amount of $250.0 million of the 0.875% debentures due 2021 was initially acquired by Total. Interest was payable semi-annually, beginning on December 1, 2014. The 0.875% debentures due 2021 were convertible into shares of our common stock at any time. When issued, the initial conversion rate in respect of the 0.875% debentures due 2021 was 20.5071 shares of common stock per $1,000 principal amount of 0.875% senior convertible debentures (which was equivalent to an initial conversion price of approximately $48.76 per share). After giving effect to the Spin-Off, effective September 1, 2020, the conversion rate was adjusted to 25.1388 shares of common stock per $1,000 principal amount of debentures (which is equivalent to a conversion price of approximately $39.78 per share). During the fiscal year ended January 3, 2021, we purchased $337.4 million of aggregated principal amount of the 0.875% debentures due 2021, including $250.0 million of principal amount representing the entire amount held by Total. In June 2021, we repaid the remaining outstanding principal amount of $62.5 million, none of which was held by Total. 4.00% Debentures Due 2023 In December 2015, we issued $425.0 million in principal amount of our 4.00% debentures due 2023. An aggregate principal amount of $100.0 million of the 4.00% debentures due 2023 was acquired by Total. Interest is payable semi-annually, beginning on July 15, 2016. The 4.00% debentures due 2023 are convertible into shares of our common stock at any time. When issued, the initial conversion rate in respect of the 4.00% debentures due 2023 was 32.7568 shares of common stock per $1,000 principal amount of debentures (which was equivalent to an initial conversion price of approximately $30.53 per share). After giving effect to the Spin-Off, effective September 1, 2020, the conversion rate adjusted to 40.1552 shares of common stock per $1,000 principal amount of debentures (which is equivalent to a conversion price of approximately $24.90 per share), which provides Total the right to acquire up to 4,015,515 shares of our common stock. Notice of the conversion rate adjustment was delivered to Wells Fargo Bank, National Association, the trustee, in accordance with the terms of the indenture governing the 4.00% debentures due 2023. The applicable conversion rate may further adjust in certain circumstances, including a fundamental change, as described in the indenture governing the 4.00% debentures due 2023. If not earlier repurchased or converted, the 4.00% debentures due 2023 mature on January 15, 2023. Joint Solar Projects with Total and Its Affiliates We enter into various EPC and operations and maintenance ("O&M") agreements relating to solar projects, including EPC and O&M services agreements relating to projects owned or partially owned by Total and its affiliates. As of July 4, 2021, we had $50.7 million of "Contract assets," $1.7 million of "Contract liabilities" and $0.3 million of "Accounts receivable, net" on our unaudited condensed consolidated balance sheets related to projects in which Total and its affiliates have a direct or indirect material interest. Related-Party Transactions with Total and Its Affiliates: The following balances and transactions are associated with transactions entered into with Total and its affiliates . As of (In thousands) July 4, 2021 January 3, 2021 Accounts receivable $ 277 $ 76 Three Months Ended Six Months Ended (In thousands) July 4, 2021 June 28, 2020 July 4, 2021 June 28, 2020 Revenue: Solar power systems, components, and other $ 22,272 $ 34,533 $ 37,377 $ 63,779 Cost of revenue: Solar power systems, components, and other 19,456 16,475 31,817 44,324 Other income: Gain on early retirement of convertible debt — — — 1,850 Interest expense: Guarantee fees incurred under the Credit Support Agreement — — — 13 Interest expense incurred on the 0.875% debentures due 2021 — 428 — 832 Interest expense incurred on the 4.00% debentures due 2023 1,000 1,000 2,000 2,000 The below table summarizes our transactions with Maxeon Solar for the three and six months ended July 4, 2021: Three Months Ended Six Months Ended (In thousands) July 4, 2021 July 4, 2021 Purchases of photovoltaic modules (recorded in cost of revenue) $ 47,192 $ 105,346 Research and development expenses reimbursement received $ 8,650 $ 18,023 Income from transition services agreement, net $ 1,656 $ 4,743 The Company had the following balances related to transactions with Maxeon Solar as of July 4, 2021: As of (In thousands) July 4, 2021 Prepaid and other current assets $ 1,996 Accrued liabilities $ 9,354 Accounts payable $ 23,562 Refer to Note 2. Transactions with Total and TotalEnergies SE. for related-party transactions with Total and its affiliates and to Note 9. Equity Investments for related-party transactions with SunStrong and SunStrong Partners. CEO Stock Purchase In connection with his commencement of employment with the company on April 19, 2021, Peter Faricy, SunPower Corporation’s Chief Executive Officer, was granted the right to purchase up to $3.0 million in shares of SunPower’s common stock based on the closing trading price on the date of purchase. For each share of common stock purchased within the 12-month period commencing on April 19, 2021, SunPower agreed to grant to Mr. Faricy one restricted stock unit (the “Matching RSUs”). The Matching RSUs vest in equal installments on each of the first two anniversaries of the last day of the calendar quarter in which Mr. Faricy purchases the related common stock. On April 26, 2021, Mr. Faricy purchased 101,730 shares of common stock for an aggregate of $3.0 million and SunPower issued the equivalent Matching RSUs .

Income Taxes

Income Taxes	6 Months Ended
	Jul. 04, 2021
Income Tax Disclosure [Abstract]
Income Taxes	INCOME TAXES In the three months ended July 4, 2021, our income tax provision of $2.4 million on a profit from continuing operations before income taxes and equity in earnings of unconsolidated investees of $77.2 million was primarily due to the deferred tax liability on mark-to-market unrealized gains on equity investments. Our income tax provision of $1.1 million in the three months ended June 28, 2020 on a profit from continuing operations before income taxes and equity in earnings of unconsolidated investees of $55.6 million was primarily due to tax expense in foreign jurisdictions, unrelated to Maxeon Solar, that were profitable. In the six months ended July 4, 2021, our income tax benefit of $2.8 million on a profit from continuing operations before income taxes and equity in earnings of unconsolidated investees of $22.5 million was primarily due to windfall benefits from stock-based compensation deduction and the true-up of estimated state tax liability, partially offset by deferred tax liability on mark-to-market unrealized gains on equity investments. Our income tax provision of $2.0 million the six months ended June 28, 2020 on a profit from continuing operations before income taxes and equity in earnings of unconsolidated investees of $76.7 million was primarily due to tax expense in foreign jurisdictions, unrelated to Maxeon Solar, that were profitable. During the three and six months ended July 4, 2021, in accordance with FASB guidance for interim reporting of income tax, we have computed our provision for income taxes based on a projected annual effective tax rate. Our projected effective tax rate is based on forecasted annualized results which may fluctuate significantly in future periods, in particular due to the uncertainty in our annual forecasts resulting from the unpredictable duration and severity of the COVID-19 pandemic on our operating results. Total liabilities associated with uncertain tax positions did not significantly change at $12.2 million and $12.6 million as of July 4, 2021 and January 3, 2021, respectively.

Net Income (Loss) Per Share

Net Income (Loss) Per Share	6 Months Ended
	Jul. 04, 2021
Earnings Per Share [Abstract]
Net Income (Loss) Per Share	NET INCOME (LOSS) PER SHARE We calculate basic net income (loss) per share by dividing earnings allocated to common stockholders by the basic weighted-average number of common shares outstanding for the period. Diluted weighted-average shares is computed by using the basic weighted-average number of common shares outstanding plus any potentially dilutive securities outstanding during the period using the treasury-stock method and the if-converted method, except when their effect is anti-dilutive. Potentially dilutive securities include restricted stock units and the outstanding senior convertible debentures. ASC 260 requires that companies use income from continuing operations as a "control number" or benchmark to determine whether potential common shares are dilutive or antidilutive. When calculating discontinued operations, we used the same number of potential common shares used in computing the diluted per-share amount of income from continuing operations in computing all other reported diluted per-share amounts, even if the effect will be antidilutive compared to their respective basic per-share amounts. The following table presents the calculation of basic and diluted net income (loss) per share attributable to stockholders: Three Months Ended Six Months Ended (In thousands, except per share amounts) July 4, 2021 June 28, 2020 July 4, 2021 June 28, 2020 Basic net income per share: Numerator: Net income attributable to stockholders - continuing operations $ 75,207 $ 55,890 $ 26,822 $ 77,430 Net loss attributable to stockholders - discontinued operations — (36,512) — (59,483) Net income attributable to stockholders $ 75,207 $ 19,378 $ 26,822 $ 17,947 Denominator: Basic weighted-average common shares 172,640 170,003 171,920 169,413 Basic net income per share - continuing operations $ 0.44 $ 0.33 $ 0.16 $ 0.46 Basic net loss per share - discontinued operations — (0.21) — (0.35) Basic net income per share $ 0.44 $ 0.12 $ 0.16 $ 0.11 Diluted net income per share: Numerator: Net income attributable to stockholders - continuing operations $ 75,207 $ 55,890 $ 26,822 $ 77,430 Add: Interest expense on 0.875% debentures due 2021, net of tax 67 535 168 1,040 Add: Interest expense on 4.00% debentures due 2023, net of tax 3,126 3,358 — — Net income available to common stockholders - continuing operations 78,400 59,783 $ 26,990 $ 78,470 Net loss available to common stockholders - discontinued operations $ — $ (36,512) $ — $ (59,483) Denominator: Basic weighted-average common shares 172,640 170,003 171,920 169,413 Effect of dilutive securities: Restricted stock units 3,084 1,765 3,299 1,558 0.875% debentures due 2021 1,571 6,350 1,575 8,203 4.00% debentures due 2023 17,068 13,922 — — Dilutive weighted-average common shares: 194,363 192,040 176,794 179,174 Dilutive net income per share - continuing operations $ 0.40 $ 0.31 $ 0.15 $ 0.44 Dilutive net loss per share - discontinued operations — (0.19) — (0.33) Dilutive net income per share $ 0.40 $ 0.12 $ 0.15 $ 0.11 The following is a summary of outstanding anti-dilutive potential common stock that was excluded from diluted net income per share attributable to stockholders in the following periods: Three Months Ended Six Months Ended (In thousands) July 4, 2021 June 28, 2020 July 4, 2021 June 28, 2020 Restricted stock units 1,070 3,596 1,070 4,509 4.00% debentures due 2023 — — 17,068 13,922

Stock-Based Compensation

Stock-Based Compensation	6 Months Ended
	Jul. 04, 2021
Share-based Payment Arrangement [Abstract]
Stock-Based Compensation	STOCK-BASED COMPENSATION The following table summarizes the consolidated stock-based compensation expense by line item in our unaudited condensed consolidated statements of operations: Three Months Ended Six Months Ended (In thousands) July 4, 2021 June 28, 2020 July 4, 2021 June 28, 2020 Cost of revenue $ 1,085 $ 542 $ 1,972 $ 1,186 Research and development 1,456 233 1,826 536 Sales, general, and administrative 7,496 3,180 11,252 7,211 Total stock-based compensation expense $ 10,037 $ 3,955 $ 15,050 $ 8,933

Segment and Geographical Inform

Segment and Geographical Information	6 Months Ended
	Jul. 04, 2021
Segment Reporting [Abstract]
Segment and Geographical Information	SEGMENT AND GEOGRAPHICAL INFORMATION Our Residential, Light Commercial ("RLC") segment refers to sales of fully integrated solar, storage and home energy solutions, through a combination of our third-party installing and non-installing dealer network and resellers and our in-house sales team. The Commercial and Industrial Solutions ("C&I Solutions") segment refers to direct sales of turn-key EPC services and sales of energy under power purchase agreements ("PPAs"). Certain legacy businesses consisting of worldwide power plant project development and project sales that we are winding down, as well as U.S. manufacturing, are not significant to overall operations, and are deemed non-core to our other businesses and classified as "Others." Certain key cross-functional support functions and responsibilities including corporate strategy, treasury, tax and accounting support and services, among others, continue to be centrally managed within the Corporate function. Each segment is managed by a business general manager that reports to our chief executive officer, as the chief operating decision maker (“CODM”), who reviews our business, manages resource allocations and measures performance of our activities between the RLC, C&I Solutions and Other segments. The CODM further views the business performance of each segment under two key sources of revenue - Dev Co and Power Co. Dev Co refers to our solar origination and installation revenue stream within each segment such as sale of solar power systems with our dealers and resellers network as well as installation and EPC revenues, while Power Co refers to our post-system sale recurring services revenues, mainly from asset management services and O&M services through our SunStrong partnership dealer services for RLC and our commercial dealer network for C&I Solutions. The risk profile of each revenue stream is different, and therefore the segregation of Dev Co and Power Co provides the CODM with appropriate information to review business performance and allocate resources to each segment. Adjustments Made for Segment Purposes Adjustments Based on International Financial Reporting Standards (“IFRS”) Mark-to-market gain (loss) on equity investments We recognize adjustments related to the fair value of equity investments with readily determinable fair value based on the changes in the stock price of these equity investments at every reporting period. Under U.S. GAAP, mark-to-market gains and losses due to changes in stock prices for these securities are recorded in earnings while under IFRS, an election can be made to recognize such gains and losses in other comprehensive income. Such an election was made by TotalEnergies SE. Further, we elected the FVO for some of our equity investments, and we adjust the carrying value of those investments based on their fair market value calculated periodically. Such option is not available under IFRS, and equity method accounting is required for those investments. Management believes that excluding these adjustments on equity investments is consistent with our internal reporting process as part of our status as a consolidated subsidiary of TotalEnergies SE and better reflects our ongoing results. Other Adjustments Intersegment gross margin Our U.S. manufacturing operations that are part of the Others segment manufacture and sell solar modules to both operating segments, RLC and C&I Solutions, based on transfer prices determined by management's assessment of market-based pricing terms. Such intersegment sales and related costs are eliminated at the corporate level to derive our unaudited condensed consolidated financial results. Gain on sale and impairment of residential lease assets In fiscal 2018 and 2019, in an effort to sell all the residential lease assets owned by us, we sold membership units representing a 49% membership interest in majority of our residential lease business and retained a 51% membership interest. We record an impairment charge based on the expected fair value for a portion of residential lease assets portfolio that was retained. Any charges or credits on these remaining unsold residential lease assets impairment, as well as corresponding depreciation savings, are excluded from our non-GAAP results as they are not reflective of ongoing operating results. Stock-based compensation Stock-based compensation relates primarily to our equity incentive awards. Stock-based compensation is a non-cash expense that is dependent on market forces that are difficult to predict. We believe that this adjustment for stock-based compensation provides investors with a basis to measure our core performance, including the ability to compare our performance with the performance of other companies, without the period-to-period variability created by stock-based compensation. Gain on business divestitures, net In the second quarter of fiscal 2021, we sold a portion of our residential lease business and certain commercial projects recognizing a gain and a loss, respectively relating to these business divestitures. We believe that it is appropriate to exclude this gain and loss from our segment results as they are not reflective of ongoing operating results. Transaction-related costs In connection with material transactions such as acquisition or divestiture of a business, we incur transaction costs including legal and accounting fees. We believe that it is appropriate to exclude these costs from our segment results as they would not have otherwise been incurred as part of our business operations and are therefore not reflective of ongoing operating results. Executive transition costs We incur non-recurring charges related to the hiring and transition of new executive officers. We recently appointed a new chief executive officer and chief legal officer, and are investing resources in those executive transitions and in developing new members of management as we complete our restructuring transformation. We believe that it is appropriate to exclude these from our non-GAAP results as they are not reflective of ongoing operating results. Business reorganization costs In connection with the Spin-Off, we incurred, and expect to continue to incur in upcoming quarters, non-recurring charges on third-party legal and consulting expenses, primarily to enable the separation of shared information technology systems and applications. We believe that it is appropriate to exclude these from our non-GAAP results as they are not reflective of ongoing operating results. Restructuring charges We incur restructuring expenses related to reorganization plans aimed towards realigning resources consistent with our global strategy and improving our overall operating efficiency and cost structure. Although we have engaged in restructuring activities in the past, each has been a discrete event based on a unique set of business objectives. We believe that it is appropriate to exclude these from our non-GAAP results as they are not reflective of ongoing operating results. Results of operations of legacy business to be exited We excluded the first quarter 2021 results of operations of our Hillsboro, Oregon, facility from our non-GAAP results given that the Hillsboro, Oregon, facility ceased revenue generation in the first fiscal quarter of 2021 and all subsequent activities are focused on the wind-down of operations. As such, they are not reflective of ongoing operating results. Litigation We may be involved in various litigation, claims, and proceedings that result in payments or recoveries. We exclude gains or losses associated with such events because the gains or losses do not reflect our underlying financial results in the period incurred. We believe that it is appropriate to exclude these from our non-GAAP results as they are not reflective of ongoing operating results. Segment and Geographical Information The following tables present segment results for the three and six months ended July 4, 2021 for revenue, gross margin, and adjusted EBITDA, each as reviewed by the CODM, and their reconciliation to our unaudited condensed consolidated results under U.S. GAAP, as well as information about significant customers and revenue by geography based on the destination of the shipments, and property, plant and equipment, net by segment. Three Months Ended July 4, 2021 June 28, 2020 (In thousands): Residential, Light Commercial Commercial and Industrial Solutions Others Residential, Light Commercial Commercial and Industrial Solutions Others Revenue from external customers: Dev Co $ 247,260 $ 44,769 $ 5,374 $ 154,126 $ 47,006 $ (204) Power Co 6,859 3,407 1,254 6,164 3,314 7,261 Intersegment revenue — — — — — 5,643 Total segment revenue as reviewed by CODM $ 254,119 $ 48,176 $ 6,628 $ 160,290 $ 50,320 $ 12,700 Segment gross profit as reviewed by CODM $ 57,210 $ 703 $ 5,280 $ 26,217 $ 10,708 $ (6,283) Adjusted EBITDA $ 27,893 $ (5,568) $ 4,878 $ 6,589 $ 5,402 $ (7,177) Six Months Ended July 4, 2021 June 28, 2020 (In thousands): Residential, Light Commercial Commercial and Industrial Solutions Others Residential, Light Commercial Commercial and Industrial Solutions Others Revenue from external customers: Dev Co $ 478,682 $ 102,890 $ 6,340 $ 380,756 $ 93,754 $ 266 Power Co 13,374 11,549 1,865 11,674 7,177 19,771 Intersegment revenue — — (11) — — 25,522 Total segment revenue as reviewed by CODM $ 492,056 $ 114,439 $ 8,194 $ 392,430 $ 100,931 $ 45,559 Segment gross profit as reviewed by CODM $ 110,131 $ 4,914 $ 5,032 $ 59,722 $ 9,413 $ (15,738) Adjusted EBITDA $ 52,946 $ (4,992) $ 4,264 $ 15,825 $ (2,472) $ (16,086) Reconciliation of Segment Revenue to Unaudited Condensed Consolidated GAAP Revenue Three Months Ended Six Months Ended (In thousands): July 4, 2021 June 28, 2020 July 4, 2021 June 28, 2020 Total segment revenue as reviewed by CODM $ 308,923 $ 223,310 $ 614,689 $ 538,920 Adjustments to segment revenue: Intersegment elimination — (5,643) 11 (25,522) Legacy utility and power plant projects — — — 207 Construction revenue on solar services contracts — — — (5,392) Results of operations of legacy business to be exited 4 — 625 — Unaudited Condensed consolidated GAAP revenue $ 308,927 $ 217,667 $ 615,325 $ 508,213 Reconciliation of Segment Gross Profit to Unaudited Condensed Consolidated GAAP Gross Profit Three Months Ended Six Months Ended (In thousands): July 4, 2021 June 28, 2020 July 4, 2021 June 28, 2020 Segment gross profit $ 63,193 $ 30,642 $ 120,077 $ 53,397 Adjustments to segment gross profit: Intersegment elimination 419 (3,193) 868 9,851 Legacy utility and power plant projects — — — 34 Legacy sale-leaseback transactions — — — (20) Gain on sale and impairment of residential lease assets 519 458 1,013 906 Construction revenue on solar services contracts — — — (4,734) Stock-based compensation expense (1,069) (471) (1,956) (1,030) Amortization of intangible assets — (1,784) — (3,568) Results of operations of legacy business to be exited (2,031) — (9,097) — Unaudited Condensed consolidated GAAP gross profit $ 61,031 $ 25,652 $ 110,905 $ 54,836 Reconciliation of Segments EBITDA to Loss before income taxes and equity in losses of unconsolidated investees Three Months Ended Six Months Ended (In thousands): July 4, 2021 June 28, 2020 July 4, 2021 June 28, 2020 Segment adjusted EBITDA $ 27,203 $ 4,814 $ 52,218 $ (2,733) Adjustments to segment adjusted EBITDA: Legacy utility and power plant projects — — — 34 Legacy sale-leaseback transactions — — — (20) Mark-to-market gain on equity investments 83,746 71,060 39,016 118,931 Gain on sale and impairment of residential lease assets 587 317 5,970 1,039 Construction revenue on solar services contracts — — — (4,734) Stock-based compensation expense (10,037) (3,955) (15,050) (8,933) Amortization of intangible assets — (1,784) — (3,570) Gain on business divestitures, net 224 10,529 224 10,529 Transaction-related costs (225) (1,382) (355) (1,862) Executive transition costs (502) — (502) — Business reorganization costs (904) — (1,858) — Restructuring charges (808) (1,259) (4,574) (2,835) Results of operations of legacy business to be exited (2,031) — (9,097) — Litigation (3,493) — (8,703) (485) Gain on convertible debt repurchased — — — 2,956 Net loss attributable to noncontrolling interests (438) (1,363) (1,551) (2,742) Cash interest expense, net of interest income (7,607) (8,317) (15,521) (17,184) Depreciation and amortization (3,486) (3,933) (6,828) (7,433) Corporate (5,035) (9,094) (10,917) (4,279) Income before income taxes and equity in loss of unconsolidated investees $ 77,194 $ 55,633 $ 22,472 $ 76,679

Organization and Summary of S_2

Organization and Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Jul. 04, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Principles of Consolidation	Principles of Consolidation The accompanying unaudited condensed consolidated financial statements have been prepared by us in accordance with generally accepted accounting principles in the United States ("United States" or "U.S.," and such accounting principles, "U.S. GAAP") for interim financial information, and include the accounts of SunPower, all of our subsidiaries and special purpose entities, as appropriate under U.S. GAAP. All intercompany transactions and balances have been eliminated in consolidation. The financial information included herein is unaudited, and reflects all adjustments which are, in the opinion of our management, of a normal recurring nature and necessary for a fair statement of the results for the periods presented. The January 3, 2021 consolidated balance sheet data was derived from SunPower’s audited consolidated financial statements included in our Annual Report on Form 10-K for the fiscal year ended January 3, 2021, as filed with the Securities and Exchange Commission ("SEC") on February 22, 2021 but does not include all disclosures required by U.S. GAAP. The unaudited condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes thereto included in SunPower's Annual Report on Form 10-K for the fiscal year ended January 3, 2021. The operating results for the three and six months ended July 4, 2021 are not necessarily indicative of the results that may be expected for fiscal year 2021, or for any other future period.
Fiscal Periods	We have 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. The current fiscal year, fiscal 2021, is a 52-week fiscal year, while fiscal year 2020 was a 53-week fiscal year. The second quarter of fiscal 2021 ended on July 4, 2021, while the second quarter of fiscal 2020 ended on June 28, 2020.
Management Estimates	Management Estimates The preparation of the unaudited condensed consolidated financial statements in conformity with U.S. GAAP requires our management to make estimates and assumptions that affect the amounts reported in these unaudited condensed consolidated financial statements and accompanying notes. Significant estimates in these unaudited condensed consolidated financial statements include revenue recognition, specifically the nature and timing of satisfaction of performance obligations, standalone selling price of performance obligations, and variable consideration; credit losses, including estimating macroeconomic factors affecting historical recovery rate of receivables; inventory and project asset write-downs; long-lived asset impairment, specifically estimates for valuation assumptions including discount rates and future cash flows; fair value of investments, including equity investments for which we apply the fair value option and other financial instruments; valuation of contingencies such as warranty and litigation; the incremental borrowing rate used in discounting of lease liabilities; the fair value of indemnities provided to customers and other parties; and income taxes and tax valuation allowances. Actual results could materially differ from those estimates.
Recently Adopted Accounting Standards and Recent Accounting Pronouncements Not Yet Adopted	Recently Adopted Accounting Pronouncements In December 2019, the FASB issued ASU 2019-12, Simplifying the Accounting for Income Taxes , which simplifies the accounting for income taxes, eliminates certain exceptions within ASC 740, Income Taxes , and clarifies certain aspects of the current guidance to promote consistency among reporting entities. Most amendments within the standard are required to be applied on a prospective basis, while certain amendments must be applied on a retrospective or modified retrospective basis. We adopted the ASU during the first quarter of fiscal 2021. The adoption did not have a material impact on our consolidated financial statements. In January 2021, the FASB issued ASU 2021-01, Reference Rate Reform (Topic 848): Scope . The ASU is an update to ASU 2020-04 issued by the FASB in March 2020 and is intended to clarify the scope of ASC 848 to include derivatives that are affected by a change in the interest rate used for margining, discounting, or contract price alignment that do not also reference LIBOR or another reference rate expected to be discontinued as a result of reference rate reform. This guidance is effective immediately upon issuance on January 7, 2021. We adopted the ASU during the first quarter of fiscal 2021. The adoption did not have any impact on our consolidated financial statements and related disclosures. Recent Accounting Pronouncements Not Yet Adopted In August 2020, the FASB issued ASU 2020-06, Debt—Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging—Contracts in Entity’s Own Equity (Subtopic 815-40)—Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity. The amendment reduces the number of accounting models used for convertible debt instruments and convertible preferred stock, which results in fewer embedded conversion features separately recognized from the host contracts. ASU 2020-06 is effective no later than the first quarter of fiscal 2022. Early adoption is permitted no earlier than the first quarter of fiscal 2021, and the ASU should be applied retrospectively. We are currently evaluating the impacts of the provisions of ASU 2020-06 on our financial statements and disclosures.

Transactions With Total and T_2

Transactions With Total and Total Energies SE (Tables)	6 Months Ended
	Jul. 04, 2021
Related Party Transactions [Abstract]
Schedule of Related Party Transactions	The following balances and transactions are associated with transactions entered into with Total and its affiliates . As of (In thousands) July 4, 2021 January 3, 2021 Accounts receivable $ 277 $ 76 Three Months Ended Six Months Ended (In thousands) July 4, 2021 June 28, 2020 July 4, 2021 June 28, 2020 Revenue: Solar power systems, components, and other $ 22,272 $ 34,533 $ 37,377 $ 63,779 Cost of revenue: Solar power systems, components, and other 19,456 16,475 31,817 44,324 Other income: Gain on early retirement of convertible debt — — — 1,850 Interest expense: Guarantee fees incurred under the Credit Support Agreement — — — 13 Interest expense incurred on the 0.875% debentures due 2021 — 428 — 832 Interest expense incurred on the 4.00% debentures due 2023 1,000 1,000 2,000 2,000 Related-party transactions and balances with SunStrong and SunStrong Partners are as follows: As of (In thousands) July 4, 2021 January 3, 2021 Accounts receivable $ 18,107 $ 16,767 Other long-term assets 11,000 — Accrued liabilities 216 7,996 Contract liabilities 28,401 27,426 Three Months Ended Six Months Ended (In thousands) July 4, 2021 June 28, 2020 July 4, 2021 June 28, 2020 Revenues and fees received from investees for products/services $ 50,475 $ 43,257 $ 100,122 $ 99,192 Gain on business divestitures, net 1 (224) — (224) — 1 The gain relates to the net impact of the sales to SunStrong during the quarter. Refer to Note 5 . Business Divestitures for additional details on the sales. The below table summarizes our transactions with Maxeon Solar for the three and six months ended July 4, 2021: Three Months Ended Six Months Ended (In thousands) July 4, 2021 July 4, 2021 Purchases of photovoltaic modules (recorded in cost of revenue) $ 47,192 $ 105,346 Research and development expenses reimbursement received $ 8,650 $ 18,023 Income from transition services agreement, net $ 1,656 $ 4,743 The Company had the following balances related to transactions with Maxeon Solar as of July 4, 2021: As of (In thousands) July 4, 2021 Prepaid and other current assets $ 1,996 Accrued liabilities $ 9,354 Accounts payable $ 23,562

Revenue from Contracts with C_2

Revenue from Contracts with Customers (Tables)	6 Months Ended
	Jul. 04, 2021
Revenue from Contract with Customer [Abstract]
Disaggregation of Revenue	The following tables represent disaggregated revenue from contracts with customers for the three and six months ended July 4, 2021 and June 28, 2020 along with the reportable segment for each category: Three Months Ended (In thousands) July 4, 2021 June 28, 2020 Category Residential, Light Commercial Commercial and Industrial Solutions Others Total Residential, Light Commercial Commercial and Industrial Solutions Others Total Solar power systems sales and EPC services $ 248,600 $ 46,038 $ 5,378 $ 300,016 $ 155,372 $ 47,858 $ (219) $ 203,011 Operations and maintenance — 2,138 1,254 3,392 — 2,136 7,261 9,397 Residential leasing 1,354 — — 1,354 1,329 — — 1,329 Solar services 4,165 — — 4,165 3,605 325 — 3,930 Total revenues $ 254,119 $ 48,176 $ 6,632 $ 308,927 $ 160,306 $ 50,319 $ 7,042 $ 217,667 Six Months Ended (In thousands) July 4, 2021 June 28, 2020 Category Residential, Light Commercial Commercial and Industrial Solutions Others Total Residential, Light Commercial Commercial and Industrial Solutions Others Total Solar power systems sales and EPC services $ 481,377 $ 109,030 $ 6,965 $ 597,372 $ 377,286 $ 95,485 $ 459 $ 473,230 Operations and maintenance — 5,408 1,865 7,273 — 4,697 19,770 24,467 Residential leasing 2,474 — — 2,474 2,653 — — 2,653 Solar services 8,206 — — 8,206 7,114 749 — 7,863 Total revenues $ 492,057 $ 114,438 $ 8,830 $ 615,325 $ 387,053 $ 100,931 $ 20,229 $ 508,213
Changes in Estimates	Also included in the table is the net change in estimate as a percentage of the aggregate revenue for such projects. Three Months Ended Six Months Ended (In thousands, except number of projects) July 4, 2021 June 28, 2020 July 4, 2021 June 28, 2020 Increase (decrease) in revenue from net changes in transaction prices $ 2,131 $ (308) $ 2,131 $ (308) Increase (decrease) in revenue from net changes in input cost estimates (2,084) 1,082 (2,084) (51) Net increase (decrease) in revenue from net changes in estimates $ 47 $ 774 $ 47 $ (359) Number of projects 3 1 3 2 Net change in estimate as a percentage of aggregate revenue for associated projects 0.6 % 11.5 % 0.6 % (0.3) %
Schedule of Contract Asset and Contract Liability	Total contract assets and contract liabilities balances as of the respective dates are as follows: As of (In thousands) July 4, 2021 January 3, 2021 Contract Assets $ 98,304 $ 122,802 Contract Liabilities 93,709 102,594
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction	The following table represents the average percentage of completion as of July 4, 2021 for EPC agreements for projects that we are constructing. We expect to recognize $122.2 million of revenue upon transfer of control of the projects. Project Revenue Category EPC Contract/Partner Developed Project Expected Year Revenue Recognition Will Be Completed Average Percentage of Revenue Recognized Various Distribution Generation Projects Solar power systems sales and EPC services Various 2023 93.4 %

Balance Sheet Components (Table

Balance Sheet Components (Tables)	6 Months Ended
	Jul. 04, 2021
Balance Sheet Related Disclosures [Abstract]
Schedule of Accounts Receivable, Net	As of (In thousands) July 4, 2021 January 3, 2021 Accounts receivable, gross 1 $ 125,726 $ 124,402 Less: allowance for credit losses (14,997) (15,379) Less: allowance for sales returns (279) (159) Accounts receivable, net $ 110,450 $ 108,864 1 A lien exists on $63.2 million of our consolidated accounts receivable, gross, as of July 4, 2021 in connection with a Loan and Security Agreement entered into on March 29, 2019. See Note 10. Debt and Credit Sources .
Accounts Receivable, Allowance for Credit Loss	Three Months Ended Six Months Ended (In thousands) July 4, 2021 June 28, 2020 July 4, 2021 June 28, 2020 Balance at beginning of period $ 14,846 $ 19,176 $ 15,379 $ 17,208 Provision for credit losses 239 619 191 2,587 Write-offs (88) (310) (573) (310) Balance at end of period $ 14,997 $ 19,485 $ 14,997 $ 19,485
Schedule of Inventory	As of (In thousands) July 4, 2021 January 3, 2021 Photo-voltaic modules $ 180,779 $ 170,013 Microinverters 15,419 16,774 Energy Storage 20,634 4,548 Other solar power system component materials 19,011 19,247 Inventories 1 2 3 $ 235,843 $ 210,582 1 A lien exists on $163.0 million of our gross inventory as of July 4, 2021 in connection with a Loan and Security Agreement entered into on March 29, 2019. See Note 10. Debt and Credit Sources. 2 Refer to long-term inventory for the safe harbor program under the caption "Other long-term assets."
Schedule of Prepaid Expenses and Other Current Assets	As of (In thousands) July 4, 2021 January 3, 2021 Deferred project costs $ 31,716 $ 26,996 VAT receivables, current portion 734 1,174 Deferred costs for solar power systems 21,927 24,526 Prepaid taxes — 205 Other 34,513 41,350 Prepaid expenses and other current assets $ 88,890 $ 94,251
Schedule of Property, Plant and Equipment, Net	As of (In thousands) July 4, 2021 January 3, 2021 Manufacturing equipment 1 $ 17,883 $ 17,134 Leasehold improvements 29,257 29,385 Solar power systems 8,653 30,110 Computer equipment 50,903 49,935 Furniture and fixtures 7,855 7,899 Work-in-progress 8,031 3,080 Property, plant and equipment, gross 122,582 137,543 Less: accumulated depreciation and impairment (90,075) (90,777) Property, plant and equipment, net 2 $ 32,507 $ 46,766 1 As of January 3, 2021 and July 4, 2021, manufacturing equipment is predominantly related to our equipment in our manufacturing facility in Hillsboro, Oregon. 2 Property, plant and equipment is predominantly located in the U.S.
Schedule of Other Long-Term Assets	As of (In thousands) July 4, 2021 January 3, 2021 Equity investments with readily determinable fair value $ 279,618 $ 614,148 Equity investments without readily determinable fair value 801 801 Equity investments with fair value option 8,374 9,924 Long-term inventory 1 — 27,085 Other 55,360 44,451 Other long-term assets $ 344,153 $ 696,409 1 Entire balance consists of finished goods under the safe harbor program. Refer to Note 9. Equity Investments for details
Schedule of Accrued Liabilities	As of (In thousands) July 4, 2021 January 3, 2021 Employee compensation and employee benefits $ 23,400 $ 23,312 Interest payable 7,922 8,796 Short-term warranty reserves 21,017 29,337 Restructuring reserve 3,148 2,808 Legal expenses 8,436 10,493 Taxes payable 2,777 25,968 Other 30,434 21,201 Accrued liabilities $ 97,134 $ 121,915
Schedule of Other Long-Term Liabilities	As of (In thousands) July 4, 2021 January 3, 2021 Deferred revenue $ 34,756 $ 36,527 Long-term warranty reserves 45,768 52,540 Unrecognized tax benefits 12,239 12,584 Long-term pension liability 5,610 5,185 Long-term deferred tax liabilities 12,280 13,468 Other 38,940 37,293 Other long-term liabilities $ 149,593 $ 157,597
Schedule of Accumulated Other Comprehensive Income	As of (In thousands) July 4, 2021 January 3, 2021 Cumulative translation adjustment $ 9,639 $ 9,635 Net gain on long-term pension liability obligation (250) (250) Net gain on long-term derivative financial instrument — (570) Deferred taxes — (16) Accumulated other comprehensive income $ 9,389 $ 8,799

Business Divestiture (Tables)

Business Divestiture (Tables)	6 Months Ended
	Jul. 04, 2021
Discontinued Operations and Disposal Groups [Abstract]
Disposal Groups, Including Discontinued Operations	The assets and liabilities of the commercial projects that were sold in the transaction are summarized below: (In thousands) Accounts receivable, net $ 719 Prepaid expenses, other current assets, and cash 840 Property, plant and equipment, net 12,847 Total assets 14,406 Accrued liabilities 137 Short-term debt 614 Long-term debt 4,779 Other long-term liabilities 804 Total liabilities 6,334 Net assets $ 8,072 Net proceeds received were as follows: (In thousands) Purchase price $ 8,881 Transaction costs (105) Holdback receivables (369) Debt repaid directly by buyer (5,585) Net proceeds received $ 2,822 Net loss on sale for three and six months ended July 4, 2021 was as follows: (In thousands) Net proceeds received $ 2,822 Estimated receivable from amount held back for retained obligations 184 Book value of net assets sold (8,072) Net loss on sale $ (5,066) The assets and liabilities related to the residential leases that were sold are summarized below: (In thousands) Accounts receivable, net $ 253 Prepaid expenses and other current assets 825 Property, plant, and equipment, net 1,934 Solar power systems leased, net 186 Total assets 3,198 Accrued and other liabilities 106 Contract liabilities 332 Total liabilities 438 Net assets $ 2,760 Net proceeds received were as follows: (In thousands) Purchase price $ 8,500 Transaction costs (449) Net proceeds received $ 8,051 Net gain on sale for three and six months ended July 4, 2021 was as follows: (In thousands) Net proceeds received $ 8,051 Book value of net assets sold (2,760) Net gain on sale $ 5,291

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Jul. 04, 2021
Fair Value Disclosures [Abstract]
Summary of Assets and Liabilities Measured and Recorded at Fair Value on a Recurring Basis	The following table summarizes our assets and liabilities measured and recorded at fair value on a recurring basis as of July 4, 2021 and January 3, 2021: July 4, 2021 January 3, 2021 (In thousands) Total Fair Value Level 3 Level 2 Level 1 Total Fair Value Level 3 Level 2 Level 1 Assets Other long-term assets: Equity investments with fair value option ("FVO") $ 8,374 $ 8,374 $ — $ — $ 9,924 $ 9,924 $ — $ — Equity investments with readily determinable fair value 652,438 — — 652,438 614,148 — — 614,148 Total assets $ 660,812 $ 8,374 $ — $ 652,438 $ 624,072 $ 9,924 $ — $ 614,148 Liabilities Other long-term liabilities: Interest rate swap contracts 1 $ — $ — $ — $ — $ 600 $ — $ 600 $ — Total liabilities $ — $ — $ — $ — $ 600 $ — $ 600 $ — 1 Our interest rate swap contracts were related to our PNC Energy Capital loan and were terminated during the quarter (see Note 10. Debt and Credit Sources for details).
Equity Method Investment Movements	The following table summarizes movements in equity investments for the six months ended July 4, 2021. There were no internal movements between Level 1 or Level 2 fair value measurements to or from Level 3 fair value measurements for the six months ended July 4, 2021. (In thousands) Beginning balance as of January 3, 2021 Equity Distribution 1 Additional Investment Other adjustment 2 Ending balance as of July 4, 2021 Equity investments with FVO $9,924 $(2,276) $— $ 726 $ 8,374 1 During the three months ended July 4, 2021, we received $2.3 million in cash proceeds from SunStrong Partners. The distribution reduced our equity investment balance in SunStrong Partners classified in "other long-term assets" on our unaudited condensed consolidated balance sheet. 2 During the three months ended July 4, 2021, we recognized $0.7 million gain on change in valuation of equity investments within "other, net" in our unaudited condensed consolidated statement of operations. The gain was primarily due to change in forecasted cash flows of SunStrong, resulting from the sale of certain commercial projects (Refer to Note 5. Business Divestitures
Level 3 Significant Unobservable Input Sensitivity	The following table summarizes the significant unobservable inputs used in Level 3 valuation of our investments carried at fair value as of July 4, 2021. Included in the table are the inputs or range of possible inputs that have an effect on the overall valuation of the financial instruments. 2021 Assets: Fair value Valuation Technique Unobservable input Range (Weighted Average) Other long-term assets: Equity investments $ 8,374 Discounted cash flows Discount rate 12.5%-13% 1 7.5% 1 Total assets $ 8,374

Restructuring (Tables)

Restructuring (Tables)	6 Months Ended
	Jul. 04, 2021
Restructuring and Related Activities [Abstract]
Schedule of Restructuring Charges	The following table summarizes the comparative periods-to-date restructuring charges by plan recognized in our unaudited condensed consolidated statements of operations: Three Months Ended Six Months Ended (In thousands) July 4, 2021 June 28, 2020 July 4, 2021 June 28, 2020 Cumulative To Date January 2021 Restructuring Plan: Severance and benefits $ (63) $ — $ 3,608 $ — $ 3,608 Other costs 1 22 — 35 — 35 Total January 2021 Restructuring Plan (41) — 3,643 — 3,643 December 2019 Restructuring Plan: Severance and benefits 847 1,249 819 2,888 10,852 Other costs 1 — — 112 — 159 Total December 2019 Restructuring Plan 847 1,249 931 2,888 11,011 Other Legacy Restructuring Plans 2 10 — (53) 68,642 Total restructuring charges $ 808 $ 1,259 $ 4,574 $ 2,835 $ 83,296 1 Other costs primarily represent associated legal and advisory services, and costs of relocating employees.
Schedule of Restructuring Reserve	The following table summarizes the restructuring reserve activities during the six months ended July 4, 2021: Six Months Ended (In thousands) January 3, 2021 Charges (Benefits) (Payments) Recoveries July 4, 2021 January 2021 Restructuring Plan: Severance and benefits $ — $ 3,608 $ (1,456) $ 2,152 Other costs 1 — 35 (35) — Total January 2021 Restructuring Plan — 3,643 (1,491) 2,152 December 2019 Restructuring Plan: Severance and benefits 2,608 819 (2,561) 866 Other costs 1 — 112 (112) — Total December 2019 Restructuring Plan 2,608 931 (2,673) 866 Other Legacy Restructuring Plans 200 — (70) 130 Total restructuring reserve activities $ 2,808 $ 4,574 $ (4,234) $ 3,148 1 Other costs primarily represent associated legal and advisory services, and costs of relocating employees.

Commitments and Contingencies (

Commitments and Contingencies (Tables)	6 Months Ended
	Jul. 04, 2021
Commitments and Contingencies Disclosure [Abstract]
Lease, Cost	The table below presents the summarized quantitative information with regard to lease contracts we have entered into: Three Months Ended Six Months Ended (In thousands) July 4, 2021 June 28, 2020 July 4, 2021 June 28, 2020 Operating leases: Operating lease expense $ 3,701 $ 3,516 $ 7,415 $ 6,934 Sublease income (105) (20) (211) (55) Rent expense $ 3,596 $ 3,496 $ 7,204 $ 6,879 Cash paid for amounts included in the measurement of lease liabilities Operating cash flows for operating leases $ 4,437 $ 3,888 $ 8,600 $ 7,197 Right-of-use assets obtained in exchange for leases $ — $ 963 $ 11,528 $ 13,424 Weighted-average remaining lease term (in years) - operating leases 6.3 6.7 6.3 6.7 Weighted-average discount rate - operating leases 8.8 % 9 % 8.8 % 9 %
Schedule of Future Minimum Rental Payments for Operating Leases	The future minimum lease payments to be paid under non-cancellable leases in effect as of July 4, 2021, are as follows (in thousands): As of July 4, 2021 Operating Leases 2021 (remaining six months) $ 8,800 2022 14,722 2023 11,899 2024 8,029 2025 4,353 Thereafter 15,473 Total lease payments 63,276 Less: imputed interest (15,077) Total $ 48,199
Future Purchase Obligations	Future purchase obligations under non-cancellable purchase orders and long-term supply agreements as o f July 4, 2021 are as follows: (In thousands) Fiscal 2021 Fiscal 2022 Fiscal 2023 Fiscal 2024 Fiscal 2025 Thereafter Total 1 Future purchase obligations $ 149,830 $ 125,170 $ 33,148 $ 1,710 $ 775 $ 5,307 $ 315,940
Schedule of Product Warranty Liability	The following table summarizes accrued warranty activities for the three and six months ended July 4, 2021 and June 28, 2020: Three Months Ended Six Months Ended (In thousands) July 4, 2021 June 28, 2020 July 4, 2021 June 28, 2020 Balance at the beginning of the period $ 72,271 $ 99,552 $ 81,877 $ 101,380 Accruals for warranties issued during the period 2,378 1,148 11,862 7,674 Settlements and adjustments during the period (7,864) (8,301) (26,954) (16,655) Balance at the end of the period $ 66,785 $ 92,399 $ 66,785 $ 92,399

Equity Investments (Tables)

Equity Investments (Tables)	6 Months Ended
	Jul. 04, 2021
Equity Method Investments and Joint Ventures [Abstract]
Equity Method Investments	The carrying value of our equity investments, classified as "other long-term assets" on our unaudited condensed consolidated balance sheets, are as follows: As of (In thousands) July 4, 2021 January 3, 2021 Equity investments with readily determinable fair value: Enphase Energy, Inc. $ 652,438 $ 614,148 Total equity investments with readily determinable fair value 1 652,438 614,148 Equity investments without readily determinable fair value: Project entities 122 122 Other equity investments without readily determinable fair value 679 679 Total equity investments without readily determinable fair value 801 801 Equity investments with fair value option: SunStrong Capital Holdings, LLC 8,371 7,645 SunStrong Partners, LLC 3 2,279 Total equity investment with fair value option 8,374 9,924 Total equity investments $ 661,613 $ 624,873 1 As of July 4, 2021, two million shares of Enphase common stock have been reclassified to current assets as short-term investments.
Schedule of Other Ownership Interests	The following table presents summarized financial statements for SunStrong, a significant investee, based on unaudited information provided to us by the investee: 1 Three Months Ended Six Months Ended (In thousands) July 4, 2021 June 28, 2020 July 4, 2021 June 28, 2020 Summarized statements of operations information: Revenue $ 32,697 $ 29,293 $ 65,794 $ 58,757 Gross income (loss) 1,007 (5,458) 2,221 (6,896) Net (loss) income 2,716 (217) (43,073) 21,423 As of (In thousands) July 4, 2021 January 3, 2021 Summarized balance sheet information: Current assets $ 90,285 $ 93,752 Long-term assets 1,476,996 1,378,382 Current liabilities 58,585 48,126 Long-term liabilities 1,181,709 1,130,484 1 Note that amounts are reported one quarter in arrears as permitted by applicable guidance.
Schedule of Related Party Transactions	The following balances and transactions are associated with transactions entered into with Total and its affiliates . As of (In thousands) July 4, 2021 January 3, 2021 Accounts receivable $ 277 $ 76 Three Months Ended Six Months Ended (In thousands) July 4, 2021 June 28, 2020 July 4, 2021 June 28, 2020 Revenue: Solar power systems, components, and other $ 22,272 $ 34,533 $ 37,377 $ 63,779 Cost of revenue: Solar power systems, components, and other 19,456 16,475 31,817 44,324 Other income: Gain on early retirement of convertible debt — — — 1,850 Interest expense: Guarantee fees incurred under the Credit Support Agreement — — — 13 Interest expense incurred on the 0.875% debentures due 2021 — 428 — 832 Interest expense incurred on the 4.00% debentures due 2023 1,000 1,000 2,000 2,000 Related-party transactions and balances with SunStrong and SunStrong Partners are as follows: As of (In thousands) July 4, 2021 January 3, 2021 Accounts receivable $ 18,107 $ 16,767 Other long-term assets 11,000 — Accrued liabilities 216 7,996 Contract liabilities 28,401 27,426 Three Months Ended Six Months Ended (In thousands) July 4, 2021 June 28, 2020 July 4, 2021 June 28, 2020 Revenues and fees received from investees for products/services $ 50,475 $ 43,257 $ 100,122 $ 99,192 Gain on business divestitures, net 1 (224) — (224) — 1 The gain relates to the net impact of the sales to SunStrong during the quarter. Refer to Note 5 . Business Divestitures for additional details on the sales. The below table summarizes our transactions with Maxeon Solar for the three and six months ended July 4, 2021: Three Months Ended Six Months Ended (In thousands) July 4, 2021 July 4, 2021 Purchases of photovoltaic modules (recorded in cost of revenue) $ 47,192 $ 105,346 Research and development expenses reimbursement received $ 8,650 $ 18,023 Income from transition services agreement, net $ 1,656 $ 4,743 The Company had the following balances related to transactions with Maxeon Solar as of July 4, 2021: As of (In thousands) July 4, 2021 Prepaid and other current assets $ 1,996 Accrued liabilities $ 9,354 Accounts payable $ 23,562

Debt and Credit Sources (Tables

Debt and Credit Sources (Tables)	6 Months Ended
	Jul. 04, 2021
Debt Disclosure [Abstract]
Schedule of Debt	The following table summarizes our outstanding debt on our unaudited condensed consolidated balance sheets: July 4, 2021 January 3, 2021 (In thousands) Face Value Short-term Long-term Total Face Value Short-term Long-term Total Convertible debt: 0.875% debentures due 2021 $ — $ — $ — $ — $ 62,634 $ 62,531 $ — $ 62,531 4.00% debentures due 2023 1 424,995 — 423,059 423,059 425,000 — 422,443 422,443 CEDA loan — — — — 30,000 — 29,219 29,219 Other debt 133,683 74,071 58,224 132,295 126,283 97,059 27,228 124,287 $ 558,678 $ 74,071 $ 481,283 $ 555,354 $ 643,917 $ 159,590 $ 478,890 $ 638,480 1 The 4.00% debentures due 2023 original principal amount of $425.0 million was reduced by $5.0 thousand during the first quarter of fiscal 2021 due to a bond conversion during the quarter. The following presents a summary of these non-recourse financing and other debt arrangements: Aggregate Carrying Value 1 (In thousands) July 4, 2021 January 3, 2021 Balance Sheet Classification Recourse Debt: PNC Energy Capital loan 2 $ — $ 5,545 Short-term debt and Long-term debt Asset-Backed Loan $ 57,779 $ 32,690 Short-term debt and Long-term debt Safe Harbor $ 69,048 $ 75,910 Short-term debt and Long-term debt Total Recourse Debt $ 126,827 $ 114,145 Non-Recourse Debt: Vendor financing and other debt $ 5,468 $ 560 Short-term debt and Long-term debt Construction project debt $ — $ 9,583 Short-term debt Total Non-Recourse Debt $ 5,468 $ 10,143 1 Based on the nature of the debt arrangements included in the table above, and our intention to fully repay or transfer the obligations at their face values plus any applicable interest, we believe their carrying value materially approximates fair value, which is categorized within Level 3 of the fair value hierarchy. 2 In fiscal 2013, we entered into a financing agreement with PNC Energy Capital, LLC to finance our construction projects. Interest is calculated at a per annum rate equal to LIBOR plus 4.13%. These debt obligations, and corresponding interest rate swap contracts, were assumed by the buyer in our sale of commercial projects (see Note 5. Business Divestitures for additional details on the sale).
Schedule of Maturities of Debt	As of July 4, 2021, the aggregate future contractual maturities of our outstanding debt, at face value, were as follows: (In thousands) Fiscal 2021 (remaining six months) Fiscal 2022 Fiscal 2023 Fiscal 2024 Fiscal 2025 Thereafter Total Aggregate future maturities of outstanding debt $ 75,310 $ 67 $ 425,065 $ 57,968 $ 78 $ 190 $ 558,678
Schedule of Long-Term Convertible Debt Instruments	The following table summarizes our outstanding convertible debt: July 4, 2021 January 3, 2021 (In thousands) Carrying Value Face Value Fair Value 1 Carrying Value Face Value Fair Value 1 Convertible debt: 0.875% debentures due 2021 $ — $ — $ — $ 62,531 $ 62,634 $ 64,018 4.00% debentures due 2023 423,059 424,995 603,871 422,443 425,000 549,398 $ 423,059 $ 424,995 $ 603,871 $ 484,974 $ 487,634 $ 613,416 1 The fair value of the convertible debt was determined using Level 2 inputs based on quarterly market prices as reported by an independent pricing source.

Related Party Transactions (Tab

Related Party Transactions (Tables)	6 Months Ended
	Jul. 04, 2021
Related Party Transactions [Abstract]
Schedule of Related Party Transactions	The following balances and transactions are associated with transactions entered into with Total and its affiliates . As of (In thousands) July 4, 2021 January 3, 2021 Accounts receivable $ 277 $ 76 Three Months Ended Six Months Ended (In thousands) July 4, 2021 June 28, 2020 July 4, 2021 June 28, 2020 Revenue: Solar power systems, components, and other $ 22,272 $ 34,533 $ 37,377 $ 63,779 Cost of revenue: Solar power systems, components, and other 19,456 16,475 31,817 44,324 Other income: Gain on early retirement of convertible debt — — — 1,850 Interest expense: Guarantee fees incurred under the Credit Support Agreement — — — 13 Interest expense incurred on the 0.875% debentures due 2021 — 428 — 832 Interest expense incurred on the 4.00% debentures due 2023 1,000 1,000 2,000 2,000 Related-party transactions and balances with SunStrong and SunStrong Partners are as follows: As of (In thousands) July 4, 2021 January 3, 2021 Accounts receivable $ 18,107 $ 16,767 Other long-term assets 11,000 — Accrued liabilities 216 7,996 Contract liabilities 28,401 27,426 Three Months Ended Six Months Ended (In thousands) July 4, 2021 June 28, 2020 July 4, 2021 June 28, 2020 Revenues and fees received from investees for products/services $ 50,475 $ 43,257 $ 100,122 $ 99,192 Gain on business divestitures, net 1 (224) — (224) — 1 The gain relates to the net impact of the sales to SunStrong during the quarter. Refer to Note 5 . Business Divestitures for additional details on the sales. The below table summarizes our transactions with Maxeon Solar for the three and six months ended July 4, 2021: Three Months Ended Six Months Ended (In thousands) July 4, 2021 July 4, 2021 Purchases of photovoltaic modules (recorded in cost of revenue) $ 47,192 $ 105,346 Research and development expenses reimbursement received $ 8,650 $ 18,023 Income from transition services agreement, net $ 1,656 $ 4,743 The Company had the following balances related to transactions with Maxeon Solar as of July 4, 2021: As of (In thousands) July 4, 2021 Prepaid and other current assets $ 1,996 Accrued liabilities $ 9,354 Accounts payable $ 23,562

Net Income (Loss) Per Share (Ta

Net Income (Loss) Per Share (Tables)	6 Months Ended
	Jul. 04, 2021
Earnings Per Share [Abstract]
Schedule of Income (Loss) Per Share	The following table presents the calculation of basic and diluted net income (loss) per share attributable to stockholders: Three Months Ended Six Months Ended (In thousands, except per share amounts) July 4, 2021 June 28, 2020 July 4, 2021 June 28, 2020 Basic net income per share: Numerator: Net income attributable to stockholders - continuing operations $ 75,207 $ 55,890 $ 26,822 $ 77,430 Net loss attributable to stockholders - discontinued operations — (36,512) — (59,483) Net income attributable to stockholders $ 75,207 $ 19,378 $ 26,822 $ 17,947 Denominator: Basic weighted-average common shares 172,640 170,003 171,920 169,413 Basic net income per share - continuing operations $ 0.44 $ 0.33 $ 0.16 $ 0.46 Basic net loss per share - discontinued operations — (0.21) — (0.35) Basic net income per share $ 0.44 $ 0.12 $ 0.16 $ 0.11 Diluted net income per share: Numerator: Net income attributable to stockholders - continuing operations $ 75,207 $ 55,890 $ 26,822 $ 77,430 Add: Interest expense on 0.875% debentures due 2021, net of tax 67 535 168 1,040 Add: Interest expense on 4.00% debentures due 2023, net of tax 3,126 3,358 — — Net income available to common stockholders - continuing operations 78,400 59,783 $ 26,990 $ 78,470 Net loss available to common stockholders - discontinued operations $ — $ (36,512) $ — $ (59,483) Denominator: Basic weighted-average common shares 172,640 170,003 171,920 169,413 Effect of dilutive securities: Restricted stock units 3,084 1,765 3,299 1,558 0.875% debentures due 2021 1,571 6,350 1,575 8,203 4.00% debentures due 2023 17,068 13,922 — — Dilutive weighted-average common shares: 194,363 192,040 176,794 179,174 Dilutive net income per share - continuing operations $ 0.40 $ 0.31 $ 0.15 $ 0.44 Dilutive net loss per share - discontinued operations — (0.19) — (0.33) Dilutive net income per share $ 0.40 $ 0.12 $ 0.15 $ 0.11
Schedule of Outstanding Anti-dilutive Potential Common Stock Excluded From Income (Loss) Per Share	The following is a summary of outstanding anti-dilutive potential common stock that was excluded from diluted net income per share attributable to stockholders in the following periods: Three Months Ended Six Months Ended (In thousands) July 4, 2021 June 28, 2020 July 4, 2021 June 28, 2020 Restricted stock units 1,070 3,596 1,070 4,509 4.00% debentures due 2023 — — 17,068 13,922

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	6 Months Ended
	Jul. 04, 2021
Share-based Payment Arrangement [Abstract]
Summary of Stock-based Compensation Expense by Line Item on the Statement of Operations	The following table summarizes the consolidated stock-based compensation expense by line item in our unaudited condensed consolidated statements of operations: Three Months Ended Six Months Ended (In thousands) July 4, 2021 June 28, 2020 July 4, 2021 June 28, 2020 Cost of revenue $ 1,085 $ 542 $ 1,972 $ 1,186 Research and development 1,456 233 1,826 536 Sales, general, and administrative 7,496 3,180 11,252 7,211 Total stock-based compensation expense $ 10,037 $ 3,955 $ 15,050 $ 8,933

Segment and Geographical Info_2

Segment and Geographical Information (Tables)	6 Months Ended
	Jul. 04, 2021
Segment Reporting [Abstract]
Reconciliation of Other Significant Reconciling Items from Segments to Consolidated	The following tables present segment results for the three and six months ended July 4, 2021 for revenue, gross margin, and adjusted EBITDA, each as reviewed by the CODM, and their reconciliation to our unaudited condensed consolidated results under U.S. GAAP, as well as information about significant customers and revenue by geography based on the destination of the shipments, and property, plant and equipment, net by segment. Three Months Ended July 4, 2021 June 28, 2020 (In thousands): Residential, Light Commercial Commercial and Industrial Solutions Others Residential, Light Commercial Commercial and Industrial Solutions Others Revenue from external customers: Dev Co $ 247,260 $ 44,769 $ 5,374 $ 154,126 $ 47,006 $ (204) Power Co 6,859 3,407 1,254 6,164 3,314 7,261 Intersegment revenue — — — — — 5,643 Total segment revenue as reviewed by CODM $ 254,119 $ 48,176 $ 6,628 $ 160,290 $ 50,320 $ 12,700 Segment gross profit as reviewed by CODM $ 57,210 $ 703 $ 5,280 $ 26,217 $ 10,708 $ (6,283) Adjusted EBITDA $ 27,893 $ (5,568) $ 4,878 $ 6,589 $ 5,402 $ (7,177) Six Months Ended July 4, 2021 June 28, 2020 (In thousands): Residential, Light Commercial Commercial and Industrial Solutions Others Residential, Light Commercial Commercial and Industrial Solutions Others Revenue from external customers: Dev Co $ 478,682 $ 102,890 $ 6,340 $ 380,756 $ 93,754 $ 266 Power Co 13,374 11,549 1,865 11,674 7,177 19,771 Intersegment revenue — — (11) — — 25,522 Total segment revenue as reviewed by CODM $ 492,056 $ 114,439 $ 8,194 $ 392,430 $ 100,931 $ 45,559 Segment gross profit as reviewed by CODM $ 110,131 $ 4,914 $ 5,032 $ 59,722 $ 9,413 $ (15,738) Adjusted EBITDA $ 52,946 $ (4,992) $ 4,264 $ 15,825 $ (2,472) $ (16,086)
Reconciliation of Operating Profit (Loss) from Segments to Consolidated	Reconciliation of Segment Revenue to Unaudited Condensed Consolidated GAAP Revenue Three Months Ended Six Months Ended (In thousands): July 4, 2021 June 28, 2020 July 4, 2021 June 28, 2020 Total segment revenue as reviewed by CODM $ 308,923 $ 223,310 $ 614,689 $ 538,920 Adjustments to segment revenue: Intersegment elimination — (5,643) 11 (25,522) Legacy utility and power plant projects — — — 207 Construction revenue on solar services contracts — — — (5,392) Results of operations of legacy business to be exited 4 — 625 — Unaudited Condensed consolidated GAAP revenue $ 308,927 $ 217,667 $ 615,325 $ 508,213 Reconciliation of Segment Gross Profit to Unaudited Condensed Consolidated GAAP Gross Profit Three Months Ended Six Months Ended (In thousands): July 4, 2021 June 28, 2020 July 4, 2021 June 28, 2020 Segment gross profit $ 63,193 $ 30,642 $ 120,077 $ 53,397 Adjustments to segment gross profit: Intersegment elimination 419 (3,193) 868 9,851 Legacy utility and power plant projects — — — 34 Legacy sale-leaseback transactions — — — (20) Gain on sale and impairment of residential lease assets 519 458 1,013 906 Construction revenue on solar services contracts — — — (4,734) Stock-based compensation expense (1,069) (471) (1,956) (1,030) Amortization of intangible assets — (1,784) — (3,568) Results of operations of legacy business to be exited (2,031) — (9,097) — Unaudited Condensed consolidated GAAP gross profit $ 61,031 $ 25,652 $ 110,905 $ 54,836 Reconciliation of Segments EBITDA to Loss before income taxes and equity in losses of unconsolidated investees Three Months Ended Six Months Ended (In thousands): July 4, 2021 June 28, 2020 July 4, 2021 June 28, 2020 Segment adjusted EBITDA $ 27,203 $ 4,814 $ 52,218 $ (2,733) Adjustments to segment adjusted EBITDA: Legacy utility and power plant projects — — — 34 Legacy sale-leaseback transactions — — — (20) Mark-to-market gain on equity investments 83,746 71,060 39,016 118,931 Gain on sale and impairment of residential lease assets 587 317 5,970 1,039 Construction revenue on solar services contracts — — — (4,734) Stock-based compensation expense (10,037) (3,955) (15,050) (8,933) Amortization of intangible assets — (1,784) — (3,570) Gain on business divestitures, net 224 10,529 224 10,529 Transaction-related costs (225) (1,382) (355) (1,862) Executive transition costs (502) — (502) — Business reorganization costs (904) — (1,858) — Restructuring charges (808) (1,259) (4,574) (2,835) Results of operations of legacy business to be exited (2,031) — (9,097) — Litigation (3,493) — (8,703) (485) Gain on convertible debt repurchased — — — 2,956 Net loss attributable to noncontrolling interests (438) (1,363) (1,551) (2,742) Cash interest expense, net of interest income (7,607) (8,317) (15,521) (17,184) Depreciation and amortization (3,486) (3,933) (6,828) (7,433) Corporate (5,035) (9,094) (10,917) (4,279) Income before income taxes and equity in loss of unconsolidated investees $ 77,194 $ 55,633 $ 22,472 $ 76,679

Transactions With Total and T_3

Transactions With Total and Total Energies SE - Narrative (Details) - Total - USD ($) $ / shares in Units, $ in Billions	1 Months Ended		6 Months Ended
	Dec. 31, 2011	Jun. 30, 2011	Jul. 04, 2021
Related Party Transaction [Line Items]
Ownership after sale of stock, percentage			51.00%
Tender Offer Agreement
Related Party Transaction [Line Items]
Ownership after sale of stock, percentage		60.00%
Consideration received in cash tender offer (in dollars per share)		$ 23.25
Cash tender offer		$ 1.4
Private Placement
Related Party Transaction [Line Items]
Ownership after sale of stock, percentage	66.00%
Consideration received in cash tender offer (in dollars per share)	$ 8.80
Number of shares of common stock issued and sold (in shares)	18,600,000

Transactions With Total and T_4

Transactions With Total and Total Energies SE - Supply Agreements (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 04, 2021	Jun. 28, 2020	Jul. 04, 2021	Jun. 28, 2020
Revenue: | Related-Party Transactions with Total and its Affiliates | Total
Related Party Transaction [Line Items]
Solar power systems, components, and other	$ 22,272	$ 34,533	$ 37,377	$ 63,779

Transactions With Total and T_5

Transactions With Total and Total Energies SE - Affiliation Agreement (Details) - member	6 Months Ended
	Jul. 04, 2021	Apr. 19, 2021
Total
Related Party Transaction [Line Items]
Ownership after sale of stock, percentage	51.00%
Standstill Agreements | Total
Related Party Transaction [Line Items]
Ownership after sale of stock, percentage	15.00%
Limitations on transfer of outstanding shares, percentage	0.40
Standstill Agreements | Total | Maximum | Sunpower Acquisition by Total
Related Party Transaction [Line Items]
Percentage of voting interests acquired in business acquisition	100.00%
Affiliation Agreement Amendment
Related Party Transaction [Line Items]
Number of members included		11
Remaining number of members		9
Affiliation Agreement Amendment | Director
Related Party Transaction [Line Items]
Number of members designated by total		6
Number of board members not designated by total		3
Number of members resigned, designated by total		1

Transactions With Total and T_6

Transactions With Total and Total Energies SE - 0.875% Debentures Due 2021 (Details)	Sep. 01, 2020$ / shares	Jun. 29, 2014	Jul. 04, 2021USD ($)	Jun. 30, 2021USD ($)	Jan. 03, 2021USD ($)	Jun. 30, 2014USD ($)$ / shares
Related Party Transaction [Line Items]
Debt face amount			$ 558,678,000
Convertible debt:
Related Party Transaction [Line Items]
Debt face amount			424,995,000		$ 487,634,000
0.875% debentures due 2021 | Convertible debt:
Related Party Transaction [Line Items]
Interest rate						0.875%
Debt face amount			$ 0		62,634,000	$ 400,000,000
Conversion ratio	0.0251388	0.0205071
Debt instrument, convertible, conversion price (in dollars per share) | $ / shares	$ 39.78					$ 48.76
Debt instrument, repurchase amount					337,400,000
Long-term debt				$ 62,500,000
0.875% debentures due 2021 | Total | Convertible debt:
Related Party Transaction [Line Items]
Debt face amount					$ 250,000,000	$ 250,000,000
Long-term debt				$ 0

Transactions With Total and T_7

Transactions With Total and Total Energies SE - 4.00% Debentures Due 2023 (Details)	Sep. 01, 2020$ / sharesshares	Dec. 31, 2015USD ($)$ / shares	Jul. 04, 2021USD ($)	Jan. 03, 2021USD ($)
Related Party Transaction [Line Items]
Debt face amount			$ 558,678,000
Convertible debt:
Related Party Transaction [Line Items]
Debt face amount			424,995,000	$ 487,634,000
4.00% debentures due 2023 | Convertible debt:
Related Party Transaction [Line Items]
Interest rate		4.00%
Debt face amount		$ 425,000,000	$ 424,995,000	$ 425,000,000
Conversion ratio	0.0401552	0.0327568
Debt instrument, convertible, conversion price (in dollars per share) | $ / shares	$ 24.90	$ 30.53
Shares issued upon conversion (in shares) | shares	4,015,515
4.00% debentures due 2023 | Total | Convertible debt:
Related Party Transaction [Line Items]
Debt face amount		$ 100,000,000

Transactions With Total and T_8

Transactions With Total and Total Energies SE - Joint Solar Projects with Total and its Affiliates (Details) - USD ($) $ in Thousands	Jul. 04, 2021	Jan. 03, 2021
Related Party Transaction [Line Items]
Accounts receivable	$ 18,107	$ 16,767
Accounts receivable | Total
Related Party Transaction [Line Items]
Accounts receivable	300
Related-Party Transactions with Total and its Affiliates | Total
Related Party Transaction [Line Items]
Contract assets	50,700
Contract liabilities	1,700
Accounts receivable	$ 277	$ 76

Transactions With Total and T_9

Transactions With Total and Total Energies SE - Schedule of Related Party Transactions (Details) - USD ($) $ in Thousands	Jul. 04, 2021	Jan. 03, 2021
Related Party Transaction [Line Items]
Accounts receivable	$ 18,107	$ 16,767
Total | Related-Party Transactions with Total and its Affiliates
Related Party Transaction [Line Items]
Accounts receivable	$ 277	$ 76

Transactions With Total and _10

Transactions With Total and Total Energies SE - Revenue from Related Parties (Details) - Total - Related-Party Transactions with Total and its Affiliates - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 04, 2021	Jun. 28, 2020	Jul. 04, 2021	Jun. 28, 2020
Revenue:
Related Party Transaction [Line Items]
Solar power systems, components, and other	$ 22,272	$ 34,533	$ 37,377	$ 63,779
Cost of revenue:
Related Party Transaction [Line Items]
Solar power systems, components, and other	19,456	16,475	31,817	44,324
Other income:
Related Party Transaction [Line Items]
Gain on early retirement of convertible debt	0	0	0	1,850
Interest expense: | 0.875% debentures due 2021
Related Party Transaction [Line Items]
Interest expense	0	428	0	832
Interest expense: | 4.00% debentures due 2023
Related Party Transaction [Line Items]
Interest expense	1,000	1,000	2,000	2,000
Interest expense: | Credit Support Agreement
Related Party Transaction [Line Items]
Interest expense	$ 0	$ 0	$ 0	$ 13

Revenue from Contracts with C_3

Revenue from Contracts with Customers - Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 04, 2021	Jun. 28, 2020	Jul. 04, 2021	Jun. 28, 2020
Disaggregation of Revenue [Line Items]
Revenue	$ 308,927	$ 217,667	$ 615,325	$ 508,213
Residential, Light Commercial
Disaggregation of Revenue [Line Items]
Revenue	254,119	160,306	492,057	387,053
Commercial and Industrial Solutions
Disaggregation of Revenue [Line Items]
Revenue	48,176	50,319	114,438	100,931
Others
Disaggregation of Revenue [Line Items]
Revenue	6,632	7,042	8,830	20,229
Solar power systems sales and EPC services
Disaggregation of Revenue [Line Items]
Revenue	300,016	203,011	597,372	473,230
Solar power systems sales and EPC services | Residential, Light Commercial
Disaggregation of Revenue [Line Items]
Revenue	248,600	155,372	481,377	377,286
Solar power systems sales and EPC services | Commercial and Industrial Solutions
Disaggregation of Revenue [Line Items]
Revenue	46,038	47,858	109,030	95,485
Solar power systems sales and EPC services | Others
Disaggregation of Revenue [Line Items]
Revenue	5,378	(219)	6,965	459
Operations and maintenance
Disaggregation of Revenue [Line Items]
Revenue	3,392	9,397	7,273	24,467
Operations and maintenance | Residential, Light Commercial
Disaggregation of Revenue [Line Items]
Revenue	0	0	0	0
Operations and maintenance | Commercial and Industrial Solutions
Disaggregation of Revenue [Line Items]
Revenue	2,138	2,136	5,408	4,697
Operations and maintenance | Others
Disaggregation of Revenue [Line Items]
Revenue	1,254	7,261	1,865	19,770
Residential leasing
Disaggregation of Revenue [Line Items]
Revenue	1,354	1,329	2,474	2,653
Residential leasing | Residential, Light Commercial
Disaggregation of Revenue [Line Items]
Revenue	1,354	1,329	2,474	2,653
Residential leasing | Commercial and Industrial Solutions
Disaggregation of Revenue [Line Items]
Revenue	0	0	0	0
Residential leasing | Others
Disaggregation of Revenue [Line Items]
Revenue	0	0	0	0
Solar services
Disaggregation of Revenue [Line Items]
Revenue	4,165	3,930	8,206	7,863
Solar services | Residential, Light Commercial
Disaggregation of Revenue [Line Items]
Revenue	4,165	3,605	8,206	7,114
Solar services | Commercial and Industrial Solutions
Disaggregation of Revenue [Line Items]
Revenue	0	325	0	749
Solar services | Others
Disaggregation of Revenue [Line Items]
Revenue	$ 0	$ 0	$ 0	$ 0

Revenue from Contracts with C_4

Revenue from Contracts with Customers - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jul. 04, 2021	Jun. 28, 2020	Jul. 04, 2021	Jun. 28, 2020
Revenue from Contract with Customer [Abstract]
Revenue or cost impact threshold	$ 1	$ 1	$ 1	$ 1

Revenue from Contracts with C_5

Revenue from Contracts with Customers - Net Change in Estimate (Details) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 04, 2021USD ($)project	Jun. 28, 2020USD ($)project	Jul. 04, 2021USD ($)project	Jun. 28, 2020USD ($)project
Revenue from Contract with Customer [Abstract]
Increase (decrease) in revenue from net changes in transaction prices	$ 2,131	$ (308)	$ 2,131	$ (308)
Increase (decrease) in revenue from net changes in input cost estimates	(2,084)	1,082	(2,084)	(51)
Net increase (decrease) in revenue from net changes in estimates	$ 47	$ 774	$ 47	$ (359)
Number of projects | project	3	1	3	2
Net change in estimate as a percentage of aggregate revenue for associated projects	0.60%	11.50%	0.60%	(0.30%)

Revenue from Contracts with C_6

Revenue from Contracts with Customers - Contract Assets and Liabilities (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 04, 2021	Jun. 28, 2020	Jul. 04, 2021	Jun. 28, 2020	Jan. 03, 2021
Disaggregation of Revenue [Line Items]
Contract Assets	$ 98,304		$ 98,304		$ 122,802
Contract Liabilities	93,709		93,709		$ 102,594
Increase (decrease) in contract with customer, liability, including addbacks	4,600	$ (25,100)	(8,900)	$ (36,500)
Revenue recognized	30,900	30,100	37,400	60,900
Commercial and Industrial Solutions
Disaggregation of Revenue [Line Items]
Increase (decrease) in contract assets	$ (24,000)	$ 2,900	$ (24,500)	$ (32,800)

Revenue from Contracts with C_7

Revenue from Contracts with Customers - Performance Obligations (Details) $ in Millions	6 Months Ended
	Jul. 04, 2021USD ($)
Various Distribution Generation Projects
Disaggregation of Revenue [Line Items]
Percentage of revenue recognized	93.40%
Solar power systems sales and EPC services
Disaggregation of Revenue [Line Items]
Revenue, remaining performance obligation, amount	$ 122.2
Modules and components
Disaggregation of Revenue [Line Items]
Revenue, remaining performance obligation, amount	$ 281.5

Balance Sheet Components - Acco

Balance Sheet Components - Accounts Receivable, Net (Details) - USD ($) $ in Thousands	Jul. 04, 2021	Jan. 03, 2021
Debt Instrument [Line Items]
Accounts receivable, gross	$ 125,726	$ 124,402
Less: allowance for credit losses	(14,997)	(15,379)
Less: allowance for sales returns	(279)	(159)
Accounts receivable, net	110,450	$ 108,864
Loan And Security Agreement Lien
Debt Instrument [Line Items]
Accounts receivable, gross	$ 63,200

Balance Sheet Components - Allo

Balance Sheet Components - Allowance for Credit Losses (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 04, 2021	Jun. 28, 2020	Jul. 04, 2021	Jun. 28, 2020
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Balance at beginning of period	$ 14,846	$ 19,176	$ 15,379	$ 17,208
Provision for credit losses	239	619	191	2,587
Write-offs	(88)	(310)	(573)	(310)
Balance at end of period	$ 14,997	$ 19,485	$ 14,997	$ 19,485

Balance Sheet Components - Inve

Balance Sheet Components - Inventories (Details) - USD ($) $ in Thousands	Jul. 04, 2021	Jan. 03, 2021
Debt Instrument [Line Items]
Photo-voltaic modules	$ 180,779	$ 170,013
Microinverters	15,419	16,774
Energy Storage	20,634	4,548
Other solar power system component materials	19,011	19,247
Inventories	235,843	$ 210,582
Loan And Security Agreement Lien
Debt Instrument [Line Items]
Inventory, gross	$ 163,000

Balance Sheet Components - Prep

Balance Sheet Components - Prepaid Expenses and Other Current Assets (Details) - USD ($) $ in Thousands		Jul. 04, 2021	Jan. 03, 2021
Balance Sheet Related Disclosures [Abstract]
Deferred project costs		$ 31,716	$ 26,996
VAT receivables, current portion		734	1,174
Deferred costs for solar power systems		21,927	24,526
Prepaid taxes		0	205
Other		34,513	41,350
Prepaid expenses and other current assets	[1]	$ 88,890	$ 94,251
[1]	We have related-party balances for transactions made with TotalEnergies SE and its affiliates, Maxeon Solar Technologies, Ltd. ("

Balance Sheet Components - Prop

Balance Sheet Components - Property, Plant and Equipment, Net (Details) - USD ($) $ in Thousands	Jul. 04, 2021	Jan. 03, 2021
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 122,582	$ 137,543
Less: accumulated depreciation and impairment	(90,075)	(90,777)
Property, plant and equipment, net	32,507	46,766
Manufacturing equipment
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	17,883	17,134
Leasehold improvements
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	29,257	29,385
Solar power systems
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	8,653	30,110
Computer equipment
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	50,903	49,935
Furniture and fixtures
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	7,855	7,899
Work-in-progress
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 8,031	$ 3,080

Balance Sheet Components - Othe

Balance Sheet Components - Other Long-term Assets (Details) - USD ($) $ in Thousands		Jul. 04, 2021	Jan. 03, 2021
Balance Sheet Related Disclosures [Abstract]
Equity investments with readily determinable fair value		$ 279,618	$ 614,148
Equity investments without readily determinable fair value		801	801
Equity investments with fair value option		8,374	9,924
Long-term inventory		0	27,085
Other		55,360	44,451
Other long-term assets	[1]	$ 344,153	$ 696,409
[1]	We have related-party balances for transactions made with TotalEnergies SE and its affiliates, Maxeon Solar Technologies, Ltd. ("

Balance Sheet Components - Accr

Balance Sheet Components - Accrued Liabilities (Details) - USD ($) $ in Thousands	Jul. 04, 2021	Jan. 03, 2021
Balance Sheet Related Disclosures [Abstract]
Employee compensation and employee benefits	$ 23,400	$ 23,312
Interest payable	7,922	8,796
Short-term warranty reserves	21,017	29,337
Restructuring reserve	3,148	2,808
Legal expenses	8,436	10,493
Taxes payable	2,777	25,968
Other	30,434	21,201
Accrued liabilities	$ 97,134	$ 121,915

Balance Sheet Components - Ot_2

Balance Sheet Components - Other Long-term Liabilities (Details) - USD ($) $ in Thousands	Jul. 04, 2021	Jan. 03, 2021
Balance Sheet Related Disclosures [Abstract]
Deferred revenue	$ 34,756	$ 36,527
Long-term warranty reserves	45,768	52,540
Unrecognized tax benefits	12,239	12,584
Long-term pension liability	5,610	5,185
Long-term deferred tax liabilities	12,280	13,468
Other	38,940	37,293
Other long-term liabilities	$ 149,593	$ 157,597

Balance Sheet Components - Accu

Balance Sheet Components - Accumulated Other Comprehensive Income (Details) - USD ($) $ in Thousands	Jul. 04, 2021	Jan. 03, 2021
Balance Sheet Related Disclosures [Abstract]
Cumulative translation adjustment	$ 9,639	$ 9,635
Net gain on long-term pension liability obligation	(250)	(250)
Net gain on long-term derivative financial instrument	0	(570)
Deferred taxes	0	(16)
Accumulated other comprehensive income	$ 9,389	$ 8,799

Business Divestiture - Narrativ

Business Divestiture - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 04, 2021	Jun. 28, 2020	Jul. 04, 2021	Jun. 28, 2020
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Gain (loss) on disposition	$ 224	$ 10,458	$ 224	$ 10,458
Commercial Projects | Disposal Group, Disposed of by Sale, Not Discontinued Operations
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Total consideration	8,881		8,881
Net cash consideration	2,822		2,822
Holdback receivables	(369)		(369)
Debt repaid directly by buyer	(5,585)		(5,585)
Gain (loss) on disposition	(5,100)		(5,100)
Transaction expense	100		100
Residential Leases | Disposal Group, Disposed of by Sale, Not Discontinued Operations
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Total consideration	8,500		8,500
Net cash consideration	8,051		8,051
Gain (loss) on disposition	5,300		5,300
Transaction expense	$ 400		$ 400

Business Divestiture - Assets a

Business Divestiture - Assets and Liabilities (Details) - Disposal Group, Disposed of by Sale, Not Discontinued Operations $ in Thousands	Jul. 04, 2021USD ($)
Commercial Projects
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Accounts receivable, net	$ 719
Prepaid expenses, other current assets, and cash	840
Property, plant and equipment, net	12,847
Total assets	14,406
Accrued liabilities	137
Short-term debt	614
Long-term debt	4,779
Other long-term liabilities	804
Total liabilities	6,334
Net assets	8,072
Residential Leases
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Accounts receivable, net	253
Prepaid expenses, other current assets, and cash	825
Property, plant and equipment, net	1,934
Solar power systems leased, net	186
Total assets	3,198
Accrued liabilities	106
Contract liabilities	332
Total liabilities	438
Net assets	$ 2,760

Business Divestiture - Proceeds

Business Divestiture - Proceeds Received (Details) - Disposal Group, Disposed of by Sale, Not Discontinued Operations $ in Thousands	Jul. 04, 2021USD ($)
Commercial Projects
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Purchase price	$ 8,881
Transaction costs	(105)
Holdback receivables	(369)
Debt repaid directly by buyer	(5,585)
Net proceeds received	2,822
Residential Leases
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Purchase price	8,500
Transaction costs	(449)
Net proceeds received	$ 8,051

Business Divestiture - Net Gain

Business Divestiture - Net Gain (Loss) on Sale (Details) - Disposal Group, Disposed of by Sale, Not Discontinued Operations $ in Thousands	3 Months Ended	6 Months Ended
	Jul. 04, 2021USD ($)	Jul. 04, 2021USD ($)
Commercial Projects
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Net proceeds received	$ 2,822	$ 2,822
Estimated receivable from amount held back for retained obligations	184	184
Book value of net assets sold	(8,072)	(8,072)
Net gain (loss) on sale	(5,066)	(5,066)
Residential Leases
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Net proceeds received	8,051	8,051
Book value of net assets sold	(2,760)	(2,760)
Net gain (loss) on sale	$ 5,291	$ 5,291

Fair Value Measurements - Summa

Fair Value Measurements - Summary of Assets and Liabilities Measured and Recorded at Fair Value on a Recurring Basis (Details) - USD ($) $ in Thousands	Jul. 04, 2021	Jan. 03, 2021
Other long-term assets:
Equity investments with readily determinable fair value	$ 279,618	$ 614,148
Total assets	660,812	624,072
Other long-term liabilities:
Total liabilities	0	600
Level 3
Other long-term assets:
Total assets	8,374	9,924
Other long-term liabilities:
Total liabilities	0	0
Level 2
Other long-term assets:
Total assets	0	0
Other long-term liabilities:
Total liabilities	0	600
Level 1
Other long-term assets:
Total assets	652,438	614,148
Other long-term liabilities:
Total liabilities	0	0
Other long-term assets:
Other long-term assets:
Equity investments with fair value option ("FVO")	8,374	9,924
Equity investments with readily determinable fair value	652,438	614,148
Other long-term assets: | Level 3
Other long-term assets:
Equity investments with fair value option ("FVO")	8,374	9,924
Equity investments with readily determinable fair value	0	0
Other long-term assets: | Level 2
Other long-term assets:
Equity investments with fair value option ("FVO")	0	0
Equity investments with readily determinable fair value	0	0
Other long-term assets: | Level 1
Other long-term assets:
Equity investments with fair value option ("FVO")	0	0
Equity investments with readily determinable fair value	652,438	614,148
Other long-term liabilities:
Other long-term liabilities:
Interest rate swap contracts	0	600
Other long-term liabilities: | Level 3
Other long-term liabilities:
Interest rate swap contracts	0	0
Other long-term liabilities: | Level 2
Other long-term liabilities:
Interest rate swap contracts	0	600
Other long-term liabilities: | Level 1
Other long-term liabilities:
Interest rate swap contracts	$ 0	$ 0

Fair Value Measurements - Equit

Fair Value Measurements - Equity Method Investments Activity (Details) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Jul. 04, 2021	Jul. 04, 2021
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Gain on change in valuation of equity method investments	$ 700
SunStrong Partners, LLC
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Proceeds from equity method investee	2,300
Equity investments with FVO
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance as of January 3, 2021		$ 9,924
Equity Distribution		(2,276)
Additional Investment		0
Other adjustment		726
Ending balance as of July 4, 2021	$ 8,374	$ 8,374

Fair Value Measurements - Level

Fair Value Measurements - Level 3 Significant Unobservable Input Sensitivity (Details) - Equity investments - Level 3 $ in Thousands	Jul. 04, 2021USD ($)
Discounted cash flows
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Total assets	$ 8,374
Measurement Input, Default Rate | Valuation Technique, Residual
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input	0.075
Measurement Input, Default Rate | Minimum | Discounted cash flows
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input	0.125
Measurement Input, Default Rate | Maximum | Discounted cash flows
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input	0.13

Fair Value Measurements - Narra

Fair Value Measurements - Narrative (Details) - USD ($) $ in Millions	Aug. 09, 2018	Jul. 04, 2021	Jun. 28, 2020	Jul. 04, 2021	Jun. 28, 2020
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Unrealized gain (loss) on investments		$ 83	$ 71.1	$ 38.3	$ 119
Enphase Shares
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Shares issuable to the company at closing of agreement (in shares)	7,500,000
Investment shares sold (in shares)					1,000,000
Proceeds from sale of equity investment					$ 43.7

Restructuring - Narrative (Deta

Restructuring - Narrative (Details) $ in Thousands	1 Months Ended	3 Months Ended				6 Months Ended		9 Months Ended
	Apr. 30, 2021USD ($)	Jul. 04, 2021USD ($)	Apr. 04, 2021employee	Jun. 28, 2020USD ($)	Dec. 29, 2019employee	Jul. 04, 2021USD ($)	Jun. 28, 2020USD ($)	Jun. 30, 2020employee
Restructuring Cost and Reserve [Line Items]
Restructuring charges		$ 808		$ 1,259		$ 4,574	$ 2,835
January 2021 Restructuring Plan:
Restructuring Cost and Reserve [Line Items]
Restructuring charges	$ 1,200
Restructuring incurred cost						3,600
December 2019 Restructuring Plan:
Restructuring Cost and Reserve [Line Items]
Restructuring incurred cost						11,000
Facility Closing | January 2021 Restructuring Plan:
Restructuring Cost and Reserve [Line Items]
Reorganization, number of jobs affected | employee			170
Facility Closing | January 2021 Restructuring Plan: | Minimum
Restructuring Cost and Reserve [Line Items]
Restructuring and related cost, exiting period			3 months
Facility Closing | January 2021 Restructuring Plan: | Maximum
Restructuring Cost and Reserve [Line Items]
Restructuring and related cost, exiting period			6 months
Spinoff | January 2021 Restructuring Plan: | Minimum
Restructuring Cost and Reserve [Line Items]
Restructuring charges						7,000
Severance costs						4,000
Real estate lease termination and other associated costs						3,000
Spinoff | January 2021 Restructuring Plan: | Maximum
Restructuring Cost and Reserve [Line Items]
Restructuring charges						9,000
Severance costs						5,000
Real estate lease termination and other associated costs						$ 4,000
Spinoff | December 2019 Restructuring Plan: | Minimum
Restructuring Cost and Reserve [Line Items]
Reorganization, number of jobs affected | employee					145
Restructuring and related cost, exiting period					12 months
Reorganization, number of jobs affected as a percentage of global workforce					3.00%
Spinoff | December 2019 Restructuring Plan: | Minimum | SunPower Technologies
Restructuring Cost and Reserve [Line Items]
Reorganization, number of jobs affected | employee					65
Spinoff | December 2019 Restructuring Plan: | Minimum | SunPower Energy Services
Restructuring Cost and Reserve [Line Items]
Reorganization, number of jobs affected | employee								80
Spinoff | December 2019 Restructuring Plan: | Maximum
Restructuring Cost and Reserve [Line Items]
Reorganization, number of jobs affected | employee					160
Restructuring and related cost, exiting period					18 months
Spinoff | December 2019 Restructuring Plan: | Maximum | SunPower Technologies
Restructuring Cost and Reserve [Line Items]
Reorganization, number of jobs affected | employee					70
Spinoff | December 2019 Restructuring Plan: | Maximum | SunPower Energy Services
Restructuring Cost and Reserve [Line Items]
Reorganization, number of jobs affected | employee								90

Restructuring - Cost (Details)

Restructuring - Cost (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 04, 2021	Jun. 28, 2020	Jul. 04, 2021	Jun. 28, 2020
Restructuring Cost and Reserve [Line Items]
Restructuring Costs	$ 808	$ 1,259	$ 4,574	$ 2,835
Cumulative To Date	83,296		83,296
January 2021 Restructuring Plan:
Restructuring Cost and Reserve [Line Items]
Restructuring Costs	(41)	0	3,643	0
Cumulative To Date	3,643		3,643
December 2019 Restructuring Plan:
Restructuring Cost and Reserve [Line Items]
Restructuring Costs	847	1,249	931	2,888
Cumulative To Date	11,011		11,011
Other Legacy Restructuring Plans
Restructuring Cost and Reserve [Line Items]
Restructuring Costs	2	10	0	(53)
Cumulative To Date	68,642		68,642
Severance and benefits | January 2021 Restructuring Plan:
Restructuring Cost and Reserve [Line Items]
Restructuring Costs	(63)	0	3,608	0
Cumulative To Date	3,608		3,608
Severance and benefits | December 2019 Restructuring Plan:
Restructuring Cost and Reserve [Line Items]
Restructuring Costs	847	1,249	819	2,888
Cumulative To Date	10,852		10,852
Other costs | January 2021 Restructuring Plan:
Restructuring Cost and Reserve [Line Items]
Restructuring Costs	22	0	35	0
Cumulative To Date	35		35
Other costs | December 2019 Restructuring Plan:
Restructuring Cost and Reserve [Line Items]
Restructuring Costs	0	$ 0	112	$ 0
Cumulative To Date	$ 159		$ 159

Restructuring - Rollforward (De

Restructuring - Rollforward (Details) $ in Thousands	6 Months Ended
	Jul. 04, 2021USD ($)
Restructuring Reserve [Roll Forward]
Restructuring reserve, beginning	$ 2,808
Charges (Benefits)	4,574
(Payments) Recoveries	(4,234)
Restructuring reserve, end	3,148
January 2021 Restructuring Plan:
Restructuring Reserve [Roll Forward]
Restructuring reserve, beginning	0
Charges (Benefits)	3,643
(Payments) Recoveries	(1,491)
Restructuring reserve, end	2,152
December 2019 Restructuring Plan:
Restructuring Reserve [Roll Forward]
Restructuring reserve, beginning	2,608
Charges (Benefits)	931
(Payments) Recoveries	(2,673)
Restructuring reserve, end	866
Other Legacy Restructuring Plans
Restructuring Reserve [Roll Forward]
Restructuring reserve, beginning	200
Charges (Benefits)	0
(Payments) Recoveries	(70)
Restructuring reserve, end	130
Severance and benefits | January 2021 Restructuring Plan:
Restructuring Reserve [Roll Forward]
Restructuring reserve, beginning	0
Charges (Benefits)	3,608
(Payments) Recoveries	(1,456)
Restructuring reserve, end	2,152
Severance and benefits | December 2019 Restructuring Plan:
Restructuring Reserve [Roll Forward]
Restructuring reserve, beginning	2,608
Charges (Benefits)	819
(Payments) Recoveries	(2,561)
Restructuring reserve, end	866
Other costs | January 2021 Restructuring Plan:
Restructuring Reserve [Roll Forward]
Restructuring reserve, beginning	0
Charges (Benefits)	35
(Payments) Recoveries	(35)
Restructuring reserve, end	0
Other costs | December 2019 Restructuring Plan:
Restructuring Reserve [Roll Forward]
Restructuring reserve, beginning	0
Charges (Benefits)	112
(Payments) Recoveries	(112)
Restructuring reserve, end	$ 0

Commitments and Contingencies -

Commitments and Contingencies - Facility and Equipment Leases (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 04, 2021	Jun. 28, 2020	Jul. 04, 2021	Jun. 28, 2020
Loss Contingencies [Line Items]
Operating lease expense	$ 3,701	$ 3,516	$ 7,415	$ 6,934
Sublease income	(105)	(20)	(211)	(55)
Rent expense	3,596	3,496	7,204	6,879
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows for operating leases	4,437	3,888	8,600	7,197
Right-of-use assets obtained in exchange for lease obligations	$ 0	$ 963	$ 11,528	$ 13,424
Weighted-average remaining lease term (in years) - operating leases	6 years 3 months 18 days	6 years 8 months 12 days	6 years 3 months 18 days	6 years 8 months 12 days
Weighted-average discount rate - operating leases	8.80%	9.00%	8.80%	9.00%
Minimum
Loss Contingencies [Line Items]
Lessee, operating lease, renewal term	1 year		1 year
Maximum
Loss Contingencies [Line Items]
Lessee, operating lease, renewal term	10 years		10 years

Commitments and Contingencies_2

Commitments and Contingencies - Future Maturities (Details) $ in Thousands	Jul. 04, 2021USD ($)
Operating Leases, Future Minimum Payments Due, Fiscal Year Maturity [Abstract]
2021 (remaining six months)	$ 8,800
2022	14,722
2023	11,899
2024	8,029
2025	4,353
Thereafter	15,473
Total lease payments	63,276
Less: imputed interest	(15,077)
Total	$ 48,199

Commitments and Contingencies_3

Commitments and Contingencies - Purchase Commitment (Details) $ in Thousands	6 Months Ended
	Jul. 04, 2021USD ($)vendor
Purchase Obligation, Fiscal Year Maturity [Abstract]
Fiscal 2021 (remaining six months)	$ 149,830
Fiscal 2022	125,170
Fiscal 2023	33,148
Fiscal 2024	1,710
Fiscal 2025	775
Thereafter	5,307
Total	315,940
Future purchase obligations related to non-cancellable purchase orders	26,700
Future purchase obligations related to long-term supply agreements	$ 289,200
Purchase commitments, number of vendors | vendor	1

Commitments and Contingencies_4

Commitments and Contingencies - Product Warranties (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 04, 2021	Jun. 28, 2020	Jul. 04, 2021	Jun. 28, 2020
Movement in Standard and Extended Product Warranty Accrual, Increase (Decrease) [Roll Forward]
Balance at the beginning of the period	$ 72,271	$ 99,552	$ 81,877	$ 101,380
Accruals for warranties issued during the period	2,378	1,148	11,862	7,674
Settlements and adjustments during the period	(7,864)	(8,301)	(26,954)	(16,655)
Balance at the end of the period	$ 66,785	$ 92,399	$ 66,785	$ 92,399

Commitments and Contingencies_5

Commitments and Contingencies - Narrative (Details) - USD ($) $ in Thousands	Jul. 04, 2021	Jan. 03, 2021
Commitments and Contingencies Disclosure [Abstract]
Extended product warranty accrual, current	$ 8,300	$ 9,100
Extended product warranty accrual, noncurrent	2,700	3,100
Unrecognized tax benefits	12,239	12,584
Income tax contingencies	9,500	$ 9,400
Contractual obligation, to be paid, 2021	65,100
Contractual obligation, to be paid, 2022	125,800
Contract liabilities gross of prepayment	74,000
Estimated litigation liability	$ 6,200

Equity Investments - Equity Met

Equity Investments - Equity Method Investments (Details) - USD ($) $ in Thousands	Jul. 04, 2021	Jan. 03, 2021
Schedule of Equity Method Investments [Line Items]
Equity investments with readily determinable fair value	$ 279,618	$ 614,148
Equity investments without readily determinable fair value:	801	801
Equity investments with fair value option	8,374	9,924
Total equity investments	661,613	624,873
Enphase Energy, Inc.
Schedule of Equity Method Investments [Line Items]
Equity investments with readily determinable fair value	$ 652,438	614,148
Owned shares, reclassified to current assets (in shares)	2,000,000
Project entities
Schedule of Equity Method Investments [Line Items]
Equity investments without readily determinable fair value:	$ 122	122
Other equity investments without readily determinable fair value
Schedule of Equity Method Investments [Line Items]
Equity investments without readily determinable fair value:	679	679
SunStrong Capital Holdings, LLC
Schedule of Equity Method Investments [Line Items]
Equity investments with fair value option	8,371	7,645
SunStrong Partners, LLC
Schedule of Equity Method Investments [Line Items]
Equity investments with fair value option	3	2,279
Total equity investment with fair value option
Schedule of Equity Method Investments [Line Items]
Equity investments with fair value option	$ 8,374	$ 9,924

Equity Investments - Summarized

Equity Investments - Summarized Financial Information of Unconsolidated VIEs (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 04, 2021	Jun. 28, 2020	Jul. 04, 2021	Jun. 28, 2020	Jan. 03, 2021
Schedule of Investments [Line Items]
Gross income (loss)	$ 61,031	$ 25,652	$ 110,905	$ 54,836
Net (loss) income	75,207	19,378	26,822	17,947
Current assets	1,061,347		1,061,347		$ 790,315
Current liabilities	408,230		408,230		529,731
SunStrong Capital Holdings, LLC | Variable Interest Entity, Not Primary Beneficiary
Schedule of Investments [Line Items]
Revenue	32,697	29,293	65,794	58,757
Gross income (loss)	1,007	(5,458)	2,221	(6,896)
Net (loss) income	2,716	$ (217)	(43,073)	$ 21,423
Current assets	90,285		90,285		93,752
Long-term assets	1,476,996		1,476,996		1,378,382
Current liabilities	58,585		58,585		48,126
Long-term liabilities	$ 1,181,709		$ 1,181,709		$ 1,130,484

Equity Investments - Related Pa

Equity Investments - Related Party Transactions with Investees (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 04, 2021	Jun. 28, 2020	Jul. 04, 2021	Jun. 28, 2020	Jan. 03, 2021
Schedule of Equity Method Investments [Line Items]
Accounts receivable	$ 18,107		$ 18,107		$ 16,767
Other long-term assets	11,000		11,000		0
Accrued liabilities	216		216		7,996
Contract liabilities	28,401		28,401		$ 27,426
Revenues and fees received from investees for products/services	50,475	$ 43,257	100,122	$ 99,192
Gain on business divestitures, net	(224)	(10,458)	(224)	(10,458)
SunStrong Partners, LLC
Schedule of Equity Method Investments [Line Items]
Gain on business divestitures, net	$ (224)	$ 0	$ (224)	$ 0

Equity Investments - Consolidat

Equity Investments - Consolidated VIEs (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 04, 2021	Jun. 28, 2020	Jul. 04, 2021	Jun. 28, 2020	Jan. 03, 2021
Variable Interest Entity [Line Items]
Assets	$ 1,546,632		$ 1,546,632		$ 1,646,482
Solar Sail | Variable Interest Entity, Primary Beneficiary
Variable Interest Entity [Line Items]
Revenue	4,200	$ 2,800	7,800	$ 3,500
Assets	$ 73,700		$ 73,700

Debt and Credit Sources - Sched

Debt and Credit Sources - Schedule of Debt (Details) - USD ($)	3 Months Ended
	Apr. 04, 2021	Jul. 04, 2021	Apr. 30, 2021	Jan. 03, 2021	Dec. 31, 2015	Jun. 30, 2014	Dec. 31, 2010
Debt Instrument [Line Items]
Face Value		$ 558,678,000
CEDA loan
Debt Instrument [Line Items]
Interest rate							8.50%
Face Value		0	$ 30,000,000	$ 30,000,000
Short-term		0		0
Long-term		0		29,219,000
Total		0		29,219,000
Other debt
Debt Instrument [Line Items]
Face Value		133,683,000		126,283,000
Short-term		74,071,000		97,059,000
Long-term		58,224,000		27,228,000
Total		132,295,000		124,287,000
Convertible debt:
Debt Instrument [Line Items]
Face Value		424,995,000		487,634,000
Convertible debt: | 0.875% debentures due 2021
Debt Instrument [Line Items]
Interest rate						0.875%
Face Value		0		62,634,000		$ 400,000,000
Short-term		0		62,531,000
Long-term		0		0
Total		0		62,531,000
Convertible debt: | 4.00% debentures due 2023
Debt Instrument [Line Items]
Interest rate					4.00%
Face Value		424,995,000		425,000,000	$ 425,000,000
Short-term		0		0
Long-term		423,059,000		422,443,000
Total		423,059,000		422,443,000
Face amount decrease by due to bond conversion	$ 5,000
Convertible and Loans
Debt Instrument [Line Items]
Face Value		558,678,000		643,917,000
Short-term		74,071,000		159,590,000
Long-term		481,283,000		478,890,000
Total		$ 555,354,000		$ 638,480,000

Debt and Credit Sources - Sch_2

Debt and Credit Sources - Schedule of Maturities (Details) $ in Thousands	Jul. 04, 2021USD ($)
Debt Disclosure [Abstract]
Fiscal 2021 (remaining six months)	$ 75,310
Fiscal 2022	67
Fiscal 2023	425,065
Fiscal 2024	57,968
Fiscal 2025	78
Thereafter	190
Total	$ 558,678

Debt and Credit Sources - Sch_3

Debt and Credit Sources - Schedule of Convertible Debt (Details) - USD ($)	Jul. 04, 2021	Jan. 03, 2021	Dec. 31, 2015	Jun. 30, 2014
Debt Instrument [Line Items]
Face Value	$ 558,678,000
Convertible debt:
Debt Instrument [Line Items]
Carrying Value	423,059,000	$ 484,974,000
Face Value	424,995,000	487,634,000
Fair value	603,871,000	613,416,000
Convertible debt: | 0.875% debentures due 2021
Debt Instrument [Line Items]
Interest rate				0.875%
Carrying Value	0	62,531,000
Face Value	0	62,634,000		$ 400,000,000
Fair value	0	64,018,000
Convertible debt: | 4.00% debentures due 2023
Debt Instrument [Line Items]
Interest rate			4.00%
Carrying Value	423,059,000	422,443,000
Face Value	424,995,000	425,000,000	$ 425,000,000
Fair value	$ 603,871,000	$ 549,398,000

Debt and Credit Sources - Narra

Debt and Credit Sources - Narrative (Details) - USD ($)	Jul. 04, 2021	Apr. 30, 2021	Jan. 03, 2021	Mar. 29, 2019	Dec. 31, 2015	Jun. 30, 2014	Dec. 31, 2010
Debt Instrument [Line Items]
Debt face amount	$ 558,678,000
Convertible debt:
Debt Instrument [Line Items]
Debt face amount	424,995,000		$ 487,634,000
CEDA loan
Debt Instrument [Line Items]
Debt face amount	0	$ 30,000,000	30,000,000
Interest rate							8.50%
Debt	0		29,219,000
0.875% debentures due 2021 | Convertible debt:
Debt Instrument [Line Items]
Debt face amount	0		62,634,000			$ 400,000,000
Interest rate						0.875%
Debt	0		62,531,000
4.00% debentures due 2023 | Convertible debt:
Debt Instrument [Line Items]
Debt face amount	424,995,000		425,000,000		$ 425,000,000
Interest rate					4.00%
Debt	423,059,000		422,443,000
March 2019 Revolving Credit Facility | Revolving Credit Facility
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity				$ 75,000,000
Long-term line of credit	57,900,000		32,800,000
Vendor financing and other debt
Debt Instrument [Line Items]
Debt face amount	133,683,000		126,283,000
Debt	$ 132,295,000		$ 124,287,000

Debt and Credit Sources - Non-r

Debt and Credit Sources - Non-recourse Debt (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 29, 2013	Jul. 04, 2021	Jan. 03, 2021
Debt Instrument [Line Items]
Total Recourse Debt		$ 126,827	$ 114,145
Total Non-Recourse Debt		5,468	10,143
PNC Energy Capital Loan
Debt Instrument [Line Items]
Total Recourse Debt		0	5,545
PNC Energy Capital Loan | London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Basis spread	4.13%
Asset-Backed Loan
Debt Instrument [Line Items]
Total Recourse Debt		57,779	32,690
Safe Harbor
Debt Instrument [Line Items]
Total Recourse Debt		69,048	75,910
Vendor financing and other debt
Debt Instrument [Line Items]
Total Non-Recourse Debt		5,468	560
Construction project debt
Debt Instrument [Line Items]
Total Non-Recourse Debt		$ 0	$ 9,583

Related Party Transactions (Det

Related Party Transactions (Details) - USD ($)	3 Months Ended	6 Months Ended
	Jul. 04, 2021	Jul. 04, 2021	Apr. 26, 2021	Apr. 19, 2021
Related Party Transaction [Line Items]
Stock purchase amount				$ 3,000,000
Shares purchased			101,730
Corporate Joint Venture | Maxeon Solar
Related Party Transaction [Line Items]
Purchases of photovoltaic modules (recorded in cost of revenue)	$ 47,192,000	$ 105,346,000
Research and development expenses reimbursement received	8,650,000	18,023,000
Income from transition services agreement, net	1,656,000	4,743,000
Prepaid and other current assets	1,996,000	1,996,000
Accrued liabilities	9,354,000	9,354,000
Accounts payable	$ 23,562,000	$ 23,562,000

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Thousands		3 Months Ended		6 Months Ended
		Jul. 04, 2021	Jun. 28, 2020	Jul. 04, 2021	Jun. 28, 2020	Jan. 03, 2021
Income Tax Disclosure [Abstract]
Tax expense (benefit)	[1]	$ 2,425	$ 1,106	$ (2,799)	$ 1,991
Income from continuing operations before income taxes and equity in earnings of unconsolidated investees		77,194	$ 55,633	22,472	$ 76,679
Unrecognized tax benefits		$ 12,239		$ 12,239		$ 12,584
[1]	We have related-party transactions with TotalEnergies SE and its affiliates, Maxeon Solar, and unconsolidated entities in which we have a direct equity investment. These related-party transactions are recorded within the "revenue: solar power systems, components, and other," "cost of revenue: solar power systems, components, and other," "operating expenses: research and development," "operating expenses: sales, general and administrative," "operating expenses: income transition services agreement, net," and "other income (expense), net: interest expense," "(provision for) benefit from income taxes" financial statement line items in our unaudited condensed consolidated statements of operations (see Note 2, Note 9, and Note 11).

Net Income Per Share - Calculat

Net Income Per Share - Calculation of Basic and Diluted Net Income (Loss) per share Attributable (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 04, 2021	Jun. 28, 2020	Jul. 04, 2021	Jun. 28, 2020	Dec. 31, 2015	Jun. 30, 2014
Numerator:
Net income attributable to stockholders - continuing operations	$ 75,207	$ 55,890	$ 26,822	$ 77,430
Net loss attributable to stockholders - discontinued operations	0	(36,512)	0	(59,483)
Net income attributable to stockholders	$ 75,207	$ 19,378	$ 26,822	$ 17,947
Denominator:
Basic weighted-average common shares (in shares)	172,640	170,003	171,920	169,413
Basic net income per share - continuing operations (in dollars per share)	$ 0.44	$ 0.33	$ 0.16	$ 0.46
Basic net loss per share - discontinued operations (in dollars per share)	0	(0.21)	0	(0.35)
Net income per share - basic (in dollars per share)	$ 0.44	$ 0.12	$ 0.16	$ 0.11
Numerator:
Net income attributable to stockholders - continuing operations	$ 75,207	$ 55,890	$ 26,822	$ 77,430
Net income available to common stockholders - continuing operations	78,400	59,783	26,990	78,470
Net loss attributable to stockholders - discontinued operations	$ 0	$ (36,512)	$ 0	$ (59,483)
Denominator:
Basic weighted-average common shares (in shares)	172,640	170,003	171,920	169,413
Effect of dilutive securities:
Dilutive weighted-average common shares (in shares)	194,363	192,040	176,794	179,174
Dilutive net income per share - continuing operations (in dollars per share)	$ 0.40	$ 0.31	$ 0.15	$ 0.44
Dilutive net loss per share - discontinued operations (in dollars per share)	0	(0.19)	0	(0.33)
Net income (loss) per share - diluted (in dollars per share)	$ 0.40	$ 0.12	$ 0.15	$ 0.11
Restricted stock units
Effect of dilutive securities:
Restricted stock units (in shares)	3,084	1,765	3,299	1,558
0.875% debentures due 2021
Effect of dilutive securities:
Convertible debt (in shares)	1,571	6,350	1,575	8,203
4.00% debentures due 2023
Effect of dilutive securities:
Convertible debt (in shares)	17,068	13,922	0	0
Interest rate	4.00%		4.00%
0.875% debentures due 2021
Numerator:
Interest on convertible debt	$ 67	$ 535	$ 168	$ 1,040
0.875% debentures due 2021 | Convertible debt:
Effect of dilutive securities:
Interest rate						0.875%
4.00% debentures due 2023
Numerator:
Interest on convertible debt	$ 3,126	$ 3,358	$ 0	$ 0
4.00% debentures due 2023 | Convertible debt:
Effect of dilutive securities:
Interest rate					4.00%

Net Income Per Share - Anti-dil

Net Income Per Share - Anti-dilutive Securities (Details) - shares shares in Thousands	3 Months Ended		6 Months Ended
	Jul. 04, 2021	Jun. 28, 2020	Jul. 04, 2021	Jun. 28, 2020
Restricted stock units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share, amount	1,070	3,596	1,070	4,509
4.00% debentures due 2023
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share, amount	0	0	17,068	13,922
Interest rate	4.00%		4.00%

Stock-Based Compensation (Detai

Stock-Based Compensation (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 04, 2021	Jun. 28, 2020	Jul. 04, 2021	Jun. 28, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	$ 10,037	$ 3,955	$ 15,050	$ 8,933
Cost of revenue:
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	1,085	542	1,972	1,186
Research and development
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	1,456	233	1,826	536
Sales, general, and administrative
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	$ 7,496	$ 3,180	$ 11,252	$ 7,211

Segment and Geographical Info_3

Segment and Geographical Information - Narrative (Details) - SunStrong Capital Holdings, LLC	12 Months Ended
	Dec. 29, 2019	Dec. 30, 2018
Segment Reporting Information [Line Items]
Equity method investee, percentage ownership sold		0.49
Ownership retained after deconsolidation	0.51

Segment and Geographical Info_4

Segment and Geographical Information - Reconciliation of Other Significant Reconciling Items from Segments to Consolidated (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 04, 2021	Jun. 28, 2020	Jul. 04, 2021	Jun. 28, 2020
Segment Reporting Information [Line Items]
Segment gross profit as reviewed by CODM	$ 61,031	$ 25,652	$ 110,905	$ 54,836
Adjusted EBITDA	77,194	55,633	22,472	76,679
Residential, Light Commercial
Segment Reporting Information [Line Items]
Total segment revenue as reviewed by CODM	254,119	160,290	492,056	392,430
Segment gross profit as reviewed by CODM	57,210	26,217	110,131	59,722
Adjusted EBITDA	27,893	6,589	52,946	15,825
Residential, Light Commercial
Segment Reporting Information [Line Items]
Total segment revenue as reviewed by CODM	48,176	50,320	114,439	100,931
Segment gross profit as reviewed by CODM	703	10,708	4,914	9,413
Adjusted EBITDA	(5,568)	5,402	(4,992)	(2,472)
Others
Segment Reporting Information [Line Items]
Total segment revenue as reviewed by CODM	6,628	12,700	8,194	45,559
Segment gross profit as reviewed by CODM	5,280	(6,283)	5,032	(15,738)
Adjusted EBITDA	4,878	(7,177)	4,264	(16,086)
Operating Segments
Segment Reporting Information [Line Items]
Segment gross profit as reviewed by CODM	63,193	30,642	120,077	53,397
Adjusted EBITDA	27,203	4,814	52,218	(2,733)
Intersegment revenue
Segment Reporting Information [Line Items]
Segment gross profit as reviewed by CODM	419	(3,193)	868	9,851
Intersegment revenue | Residential, Light Commercial
Segment Reporting Information [Line Items]
Total segment revenue as reviewed by CODM	0	0	0	0
Intersegment revenue | Residential, Light Commercial
Segment Reporting Information [Line Items]
Total segment revenue as reviewed by CODM	0	0	0	0
Intersegment revenue | Others
Segment Reporting Information [Line Items]
Total segment revenue as reviewed by CODM	0	5,643	(11)	25,522
Dev Co | Operating Segments | Residential, Light Commercial
Segment Reporting Information [Line Items]
Total segment revenue as reviewed by CODM	247,260	154,126	478,682	380,756
Dev Co | Operating Segments | Residential, Light Commercial
Segment Reporting Information [Line Items]
Total segment revenue as reviewed by CODM	44,769	47,006	102,890	93,754
Dev Co | Operating Segments | Others
Segment Reporting Information [Line Items]
Total segment revenue as reviewed by CODM	5,374	(204)	6,340	266
Power Co | Operating Segments | Residential, Light Commercial
Segment Reporting Information [Line Items]
Total segment revenue as reviewed by CODM	6,859	6,164	13,374	11,674
Power Co | Operating Segments | Residential, Light Commercial
Segment Reporting Information [Line Items]
Total segment revenue as reviewed by CODM	3,407	3,314	11,549	7,177
Power Co | Operating Segments | Others
Segment Reporting Information [Line Items]
Total segment revenue as reviewed by CODM	$ 1,254	$ 7,261	$ 1,865	$ 19,771

Segment and Geographical Info_5

Segment and Geographical Information - Reconciliation of Segment Revenue to Condensed Consolidated GAAP Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 04, 2021	Jun. 28, 2020	Jul. 04, 2021	Jun. 28, 2020
Segment Reporting Information [Line Items]
Revenue	$ 308,927	$ 217,667	$ 615,325	$ 508,213
Operating Segments
Segment Reporting Information [Line Items]
Total segment revenue as reviewed by CODM	308,923	223,310	614,689	538,920
Intersegment elimination
Segment Reporting Information [Line Items]
Revenue	0	(5,643)	11	(25,522)
Segment Reconciling Items
Segment Reporting Information [Line Items]
Revenue	0	0	0	(5,392)
Legacy utility and power plant projects	0	0	0	207
Results of operations of legacy business to be exited	$ 4	$ 0	$ 625	$ 0

Segment and Geographical Info_6

Segment and Geographical Information - Reconciliation of Segment Gross Profit to Condensed Consolidated GAAP Gross Profit (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 04, 2021	Jun. 28, 2020	Jul. 04, 2021	Jun. 28, 2020
Segment Reporting Information [Line Items]
Gross profit	$ 61,031	$ 25,652	$ 110,905	$ 54,836
Construction revenue on solar services contracts	308,927	217,667	615,325	508,213
Stock-based compensation expense			15,050	12,746
Operating Segments
Segment Reporting Information [Line Items]
Gross profit	63,193	30,642	120,077	53,397
Intersegment revenue
Segment Reporting Information [Line Items]
Gross profit	419	(3,193)	868	9,851
Construction revenue on solar services contracts	0	(5,643)	11	(25,522)
Segment Reconciling Items
Segment Reporting Information [Line Items]
Legacy utility and power plant projects	0	0	0	207
Construction revenue on solar services contracts	0	0	0	(5,392)
Results of operations of legacy business to be exited	4	0	625	0
Segment Reconciling Items | Gross Profit
Segment Reporting Information [Line Items]
Legacy utility and power plant projects	0	0	0	34
Legacy sale-leaseback transactions	0	0	0	(20)
Gain on sale and impairment of residential lease assets	519	458	1,013	906
Construction revenue on solar services contracts	0	0	0	(4,734)
Stock-based compensation expense	(1,069)	(471)	(1,956)	(1,030)
Amortization of intangible assets	0	(1,784)	0	(3,568)
Results of operations of legacy business to be exited	$ (2,031)	$ 0	$ (9,097)	$ 0

Segment and Geographical Info_7

Segment and Geographical Information - Reconciliation of Segments EBITDA to Loss Before Income Taxes and Equity in Earnings (Losses) of Unconsolidated Investees (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 04, 2021	Jun. 28, 2020	Jul. 04, 2021	Jun. 28, 2020
Segment Reporting Information [Line Items]
Segment adjusted EBITDA	$ 77,194	$ 55,633	$ 22,472	$ 76,679
Construction revenue on solar services contracts	308,927	217,667	615,325	508,213
Stock-based compensation expense			15,050	12,746
Restructuring charges	808	1,259	4,574	2,835
Net loss attributable to noncontrolling interests	(438)	(980)	(1,551)	(1,687)
Operating Segments
Segment Reporting Information [Line Items]
Segment adjusted EBITDA	27,203	4,814	52,218	(2,733)
Segment Reconciling Items
Segment Reporting Information [Line Items]
Legacy utility and power plant projects	0	0	0	207
Construction revenue on solar services contracts	0	0	0	(5,392)
Results of operations of legacy business to be exited	4	0	625	0
Income (Loss) From Continuing Operations Before Income Taxes Minority Interest And Income (Loss) From Equity Method Investments | Segment Reconciling Items
Segment Reporting Information [Line Items]
Legacy utility and power plant projects	0	0	0	34
Legacy sale-leaseback transactions	0	0	0	(20)
Mark-to-market gain on equity investments	83,746	71,060	39,016	118,931
Gain on sale and impairment of residential lease assets	587	317	5,970	1,039
Construction revenue on solar services contracts	0	0	0	(4,734)
Stock-based compensation expense	(10,037)	(3,955)	(15,050)	(8,933)
Amortization of intangible assets	0	(1,784)	0	(3,570)
Gain on business divestitures, net	224	10,529	224	10,529
Transaction-related costs	(225)	(1,382)	(355)	(1,862)
Executive transition costs	(502)	0	(502)	0
Business reorganization costs	(904)	0	(1,858)	0
Restructuring charges	(808)	(1,259)	(4,574)	(2,835)
Results of operations of legacy business to be exited	(2,031)	0	(9,097)	0
Litigation	(3,493)	0	(8,703)	(485)
Gain on convertible debt repurchased	0	0	0	2,956
Net loss attributable to noncontrolling interests	(438)	(1,363)	(1,551)	(2,742)
Cash interest expense, net of interest income	(7,607)	(8,317)	(15,521)	(17,184)
Depreciation and amortization	(3,486)	(3,933)	(6,828)	(7,433)
Income (Loss) From Continuing Operations Before Income Taxes Minority Interest And Income (Loss) From Equity Method Investments | Corporate
Segment Reporting Information [Line Items]
Segment adjusted EBITDA	$ (5,035)	$ (9,094)	$ (10,917)	$ (4,279)