Sunpower (SPWRQ) 10-Q 5 May 22 2022 Q1 Quarterly report Financial data

Cover page

Cover page - shares	3 Months Ended
	Apr. 03, 2022	Apr. 29, 2022
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Apr. 3, 2022
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	Large Accelerated Filer
Entity Emerging Growth Company	false
Entity Small Business	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding (in shares)		173,862,474
Amendment Flag	false
Entity Central Index Key	0000867773
Current Fiscal Year End Date	--01-01
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q1

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands		Apr. 03, 2022	Jan. 02, 2022
Current assets:
Cash and cash equivalents		$ 142,250	$ 123,735
Restricted cash and cash equivalents, current portion	[1]	681	691
Short-term investments		308,835	365,880
Retail installment contract receivables, current portion	[2]	116,354	121,268
Contract assets		35,721	25,994
Inventories		245,612	214,432
Advances to suppliers, current portion		2,685	462
Prepaid expenses and other current assets	[2]	128,271	100,212
Current assets of discontinued operations	[2]	179,484	120,792
Total current assets		1,159,893	1,073,466
Restricted cash and cash equivalents, net of current portion	[1]	12,857	14,887
Property, plant and equipment, net		42,495	33,560
Operating lease right-of-use assets		30,337	31,654
Solar power systems leased, net		44,550	45,502
Goodwill		126,338	126,338
Other intangible assets, net		24,776	24,879
Other long-term assets		129,529	156,994
Long-term assets of discontinued operations		0	47,526
Total assets		1,570,775	1,554,806
Current liabilities:
Accounts payable	[2]	179,069	138,514
Accrued liabilities	[2]	129,569	101,980
Operating lease liabilities, current portion		11,439	10,753
Contract liabilities, current portion	[2]	66,127	62,285
Short-term debt		107,863	109,568
Convertible debt, current portion	[2]	423,987	0
Current liabilities of discontinued operations	[2]	138,153	86,496
Total current liabilities		1,056,207	509,596
Long-term		338	380
Convertible debt, net of current portion	[2]	0	423,677
Operating lease liabilities, net of current portion		26,215	28,566
Contract liabilities, net of current portion		19,059	18,705
Other long-term liabilities	[2]	109,295	141,197
Long-term liabilities of discontinued operations	[2]	0	42,661
Total liabilities		1,211,114	1,164,782
Commitments and contingencies (Note 9)
Equity:
Preferred stock, $0.001 par value; 10,000 shares authorized; none issued and outstanding as of April 3, 2022 and January 2, 2022		0	0
Common stock, $0.001 par value, 367,500 shares authorized; 187,652 shares issued and 173,846 shares outstanding as of April 3, 2022; 186,452 shares issued and 173,052 shares outstanding as of January 2, 2022		174	173
Additional paid-in capital		2,719,927	2,714,500
Accumulated deficit		(2,150,083)	(2,122,212)
Accumulated other comprehensive income		11,170	11,168
Treasury stock, at cost: 13,807 shares of common stock as of April 3, 2022; 13,401 shares of common stock as of January 2, 2022		(222,573)	(215,240)
Total stockholders' equity		358,615	388,389
Noncontrolling interests in subsidiaries		1,046	1,635
Total equity		359,661	390,024
Total liabilities and equity		$ 1,570,775	$ 1,554,806
[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 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. (“Maxeon Solar”), and unconsolidated entities in which we have a direct equity investment. These related-party balances are recorded within the “accounts receivable, net,” “prepaid expenses and other current assets,” “accounts payable,” “accrued liabilities,” “convertible debt, current portion,” “contract liabilities, current portion,” “convertible debt, net of current portion,” “other long-term liabilities,” “current assets of discontinued operations,” “current liabilities of discontinued operations,” and “long-term liabilities of discontinued operations” financial statement line items on our condensed consolidated balance sheets (see Note 3, Note 9, Note 10, Note 11, and Note 12)

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Apr. 03, 2022	Jan. 02, 2022
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)	187,652,000	186,452,000
Common stock shares outstanding (in shares)	173,846,000	173,052,000
Common stock shares held as treasury stock (in shares)	13,807,000	13,401,000

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations - USD ($) $ in Thousands		3 Months Ended
		Apr. 03, 2022	Apr. 04, 2021
Income Statement [Abstract]
Total revenues		$ 350,277	$ 240,136
Total cost of revenues		277,968	194,170
Gross profit		72,309	45,966
Operating expenses:
Research and development	[1]	5,010	4,624
Sales, general, and administrative		76,996	42,267
Restructuring charges (credits)		627	3,766
(Gain) loss on sale and impairment of residential lease assets		0	(226)
(Income) expense from transition services agreement, net	[1]	266	(3,087)
Total operating expenses		82,899	47,344
Operating income (loss)		(10,590)	(1,378)
Other (expense) income, net:
Interest income		42	52
Interest expense	[1]	(5,044)	(7,027)
Other, net		1,444	(44,515)
Other (expense) income, net		(3,558)	(51,490)
(Loss) income from continuing operations before income taxes		(14,148)	(52,868)
Benefits from (provision for) income taxes		11,643	5,126
Net (loss) income from continuing operations		(2,505)	(47,742)
(Loss) income from discontinued operations before income taxes	[2]	(26,298)	(1,854)
Benefits from (provision for) income taxes from discontinued operations		343	98
Net (loss) income from discontinued operations, net of taxes		(25,955)	(1,756)
Net (loss) income		(28,460)	(49,498)
Net loss (income) from continuing operations attributable to noncontrolling interests		339	595
Net loss (income) from discontinued operations attributable to noncontrolling interests		250	518
Net loss (income) attributable to noncontrolling interests		589	1,113
Net (loss) income from continuing operations attributable to stockholders		(2,166)	(47,147)
Net (loss) income from discontinued operations attributable to stockholders		(25,705)	(1,238)
Net (loss) income attributable to stockholders		$ (27,871)	$ (48,385)
Net (loss) income per share attributable to stockholders - basic:
Continuing operations (in dollars per share)		$ (0.01)	$ (0.28)
Discontinued operations (in dollars per share)		(0.15)	(0.01)
Net (loss) income per share – basic (in dollars per share)		(0.16)	(0.29)
Net (loss) income per share attributable to stockholders - diluted:
Continuing operations (in dollars per share)		(0.01)	(0.28)
Discontinued operations (in dollars per share)		(0.15)	(0.01)
Net (loss) income per share - diluted (in dollars per share)		$ (0.16)	$ (0.29)
Weighted-average shares:
Basic (in shares)		173,376,000	171,200,000
Dilutive weighted-average common shares (in shares)		173,376,000	171,200,000
[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 “revenues: solar power systems and components,” “operating expenses: research and development,” “operating expenses: (income) expense transition services agreement, net,” “other income (expense), net: interest expense,” and “(loss) income from discontinued operations before income taxes” financial statement line items in our condensed consolidated statements of operations (see Note 3, Note 10, and Note 12).
[2]	We have related-party balances for transactions made with TotalEnergies SE and its affiliates, Maxeon Solar Technologies, Ltd. (“Maxeon Solar”), and unconsolidated entities in which we have a direct equity investment. These related-party balances are recorded within the “accounts receivable, net,” “prepaid expenses and other current assets,” “accounts payable,” “accrued liabilities,” “convertible debt, current portion,” “contract liabilities, current portion,” “convertible debt, net of current portion,” “other long-term liabilities,” “current assets of discontinued operations,” “current liabilities of discontinued operations,” and “long-term liabilities of discontinued operations” financial statement line items on our condensed consolidated balance sheets (see Note 3, Note 9, Note 10, Note 11, and Note 12)

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Thousands	3 Months Ended
	Apr. 03, 2022	Apr. 04, 2021
Statement of Comprehensive Income [Abstract]
Net (loss) income	$ (28,460)	$ (49,498)
Components of other comprehensive income (loss):
Translation adjustment	2	(2)
Net change in derivatives	0	147
(Provision for) benefits from income taxes	0	(47)
Total other comprehensive income (loss)	2	98
Total comprehensive (loss) income	(28,458)	(49,400)
Comprehensive loss (income) attributable to noncontrolling interests	589	1,113
Comprehensive (loss) income attributable to stockholders	$ (27,869)	$ (48,287)

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
Stockholders' equity, beginning of period (in shares) at Jan. 03, 2021			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	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	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
Stockholders' equity, end of period (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
Stockholders' equity, beginning of period (in shares) at Jan. 02, 2022	173,052,000		173,051,000
Stockholders' equity, beginning of period at Jan. 02, 2022	$ 390,024	388,389	$ 173	2,714,500	(215,240)	11,168	(2,122,212)	1,635
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	(28,460)	(27,871)					(27,871)	(589)
Other comprehensive income	2	2				2
Issuance of restricted stock to employees, net of cancellations (in shares)			1,201,000
Issuance of restricted stock to employees, net of cancellations	1	1	$ 1
Stock-based compensation expense	5,427	5,427		5,427
Purchases of treasury stock (in shares)			(407,000)
Purchases of treasury stock	$ (7,333)	(7,333)			(7,333)
Stockholders' equity, end of period (in shares) at Apr. 03, 2022	173,846,000		173,845,000
Stockholders' equity, end of period at Apr. 03, 2022	$ 359,661	$ 358,615	$ 174	$ 2,719,927	$ (222,573)	$ 11,170	$ (2,150,083)	$ 1,046

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands		3 Months Ended
		Apr. 03, 2022	Apr. 04, 2021
Cash flows from operating activities:
Net (loss) income		$ (28,460)	$ (49,498)
Adjustments to reconcile net (loss) income to net cash used in operating activities:
Depreciation and amortization		4,665	2,849
Stock-based compensation		5,427	5,437
Non-cash interest expense		726	1,505
(Gain) loss on equity investments		(1,315)	44,730
(Gain) loss on sale of investments		0	(1,162)
Deferred income taxes		(13,750)	(3,901)
Other, net		845	(5,280)
Changes in operating assets and liabilities:
Accounts receivable		(12,354)	4,114
Contract assets		(6,519)	487
Inventories		(35,081)	(8,271)
Project assets		2,892	9,197
Prepaid expenses and other assets		(86,502)	1,429
Operating lease right-of-use assets		2,415	2,875
Advances to suppliers		(2,222)	(3,852)
Accounts payable and other accrued liabilities		41,444	(24,152)
Contract liabilities		22,066	(13,461)
Operating lease liabilities		(3,027)	(3,429)
Net cash used in operating activities		(108,750)	(40,383)
Cash flows from investing activities:
Purchases of property, plant, and equipment		(8,636)	(1,964)
Investment in software development costs		(1,521)	0
Cash paid for solar power systems		0	(635)
Cash received from sale of investments		0	1,200
Cash paid for equity investments		(7,000)	0
Proceeds from sale of equity investment		149,830	0
Cash paid for investments in unconsolidated investees		(154)	0
Net cash provided by (used in) investing activities		132,519	(1,399)
Cash flows from financing activities:
Proceeds from bank loans and other debt		21,458	71,323
Repayment of bank loans and other debt		(23,944)	(35,076)
Repayment of non-recourse residential and commercial financing debt		0	(9,713)
Purchases of stock for tax withholding obligations on vested restricted stock		(7,332)	(2,118)
Net cash (used in) provided by financing activities		(9,818)	24,416
Effect of exchange rate changes on cash, cash equivalents, and restricted cash		0	0
Net increase (decrease) in cash, cash equivalents, and restricted cash		13,951	(17,367)
Cash, cash equivalents, and restricted cash, beginning of period		148,613	246,804
Cash, cash equivalents, and restricted cash, end of period		162,564	229,437
Reconciliation of cash, cash equivalents, and restricted cash to the condensed consolidated balance sheets, including discontinued operations:
Cash and cash equivalents		142,250
Restricted cash and cash equivalents, current portion	[1]	681
Restricted cash and cash equivalents, net of current portion	[1]	12,857
Total cash, cash equivalents, and restricted cash		162,564	229,437
Supplemental disclosure of cash flow information:
Property, plant and equipment acquisitions funded by liabilities		922	1,647
Right-of-use assets obtained in exchange for lease obligations		877	11,528
Cash paid for interest		9,874	11,437
Cash paid for income taxes		250	39
Discontinued Operations
Cash flows from financing activities:
Cash, cash equivalents, and restricted cash, end of period		162,564	229,437
Reconciliation of cash, cash equivalents, and restricted cash to the condensed consolidated balance sheets, including discontinued operations:
Cash and cash equivalents		142,250	213,105
Restricted cash and cash equivalents, current portion		681	10,928
Restricted cash and cash equivalents, net of current portion		12,857	5,404
Cash, cash equivalents, and restricted cash from discontinued operations		6,776	0
Total cash, cash equivalents, and restricted cash		$ 162,564	$ 229,437
[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 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

Organization and Summary of Sig

Organization and Summary of Significant Accounting Policies	3 Months Ended
	Apr. 03, 2022
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 offers 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 and businesses. Our sales channels include a strong network of both installing and non-installing dealers and resellers that operate in residential markets as well as a group of talented and driven in-house sales teams engaged in direct sales to end customers. We are invested in growing our business, by focusing on continued innovation, product development, and investments, while enhancing our customer experience and culture. SunPower is a majority-owned subsidiary of TotalEnergies Solar INTL SAS (“Total,” formerly Total Solar International SAS) and TotalEnergies Gaz & Electricité Holdings SAS (“Total Gaz,” formerly Total Gaz Electricité Holdings France SAS), each a subsidiary of TotalEnergies SE (“TotalEnergies SE,” formerly Total SE) (see “Note 3 . Transactions with Total and TotalEnergies SE ”). On February 6, 2022, we signed an Equity Purchase Agreement (the “Definitive Agreement”) with TotalEnergies Renewables USA, LLC (“TotalEnergies Renewables”), a Delaware limited liability company and wholly owned subsidiary of TotalEnergies SE, for the sale of our Commercial and Industrial Solutions (“C&I Solutions”) business. Subject to the terms and considerations set forth in the Definitive Agreement, TotalEnergies Renewables will acquire all of the issued and outstanding common stock of our C&I Solutions business for aggregate cash consideration of $190.0 million, which is subject to certain adjustments, including cash, indebtedness, working capital surplus/shortfall, and transaction expenses. We will receive additional consideration of up to $60.0 million in cash if certain legislative action is taken between February 6 and June 30, 2022. The sale is subject to customary closing conditions, including internal restructuring of certain legal entities before they are ready for sale, and is currently expected to close before the end of the second quarter of fiscal 2022. The pending sale meets the criteria for classification as “discontinued operations” in accordance with the guidance in ASC 205-20. Refer to Note 2. Discontinued Operations for details. Liquidity We believe that our cash and cash equivalents will be sufficient to meet our obligations over the next 12 months from the date of issuance of our financial statements, including repayment of our $425.0 million 4.00% senior convertible debentures due 2023 (the “4.00% debentures due 2023”), $100.0 million of which are held by TotalEnergies, which mature on January 15, 2023. The holders of 4.00% debentures due 2023 may exercise their right to convert into our common stock any time prior to their maturity, instead of cash repayment. In order for us to fulfil our obligation to repay the 4.00% debentures due 2023, we could use proceeds of sale of shares of Enphase Energy, Inc (“Enphase”) common stock, cash generated from operations, and proceeds from the pending sale of our C&I Solutions business to TotalEnergies Renewables. The C&I Solutions sale is subject to customary closing conditions, including internal restructuring of certain legal entities before they are ready for sale. We currently expect the sale to be completed during the second quarter of fiscal 2022. In addition, in the past we have generated liquidity by securing other sources of financing, such as accessing the capital markets; as well as implementing other cost reduction initiatives and deferring uncommitted expenditures, to address our liquidity needs. We believe it is probable that these actions will generate sufficient proceeds if needed to satisfy our debt obligations under the 4.00% debentures due 2023. However, we cannot predict, with certainty, the outcome of the actions discussed above to generate liquidity or whether such actions would generate the expected liquidity as currently planned. In the past we have refinanced and extended the maturity date of certain debts; however, there is no assurance that the 4.00% debentures due 2023 will be refinanced or their maturity extended to sufficiently meet our obligations as they become due or on terms acceptable to us. Basis of Presentation and Preparation Principles of Consolidation The accompanying 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 2, 2022 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 2, 2022, as filed with the Securities and Exchange Commission (“SEC”) on February 25, 2022, but does not include all disclosures required by U.S. GAAP. The 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 2, 2022. The operating results for the three months ended April 3, 2022 are not necessarily indicative of the results that may be expected for fiscal year 2022, 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. Both the current fiscal year, fiscal 2022, and prior fiscal year, fiscal 2021, are 52-week fiscal years. The first quarter of fiscal 2022 ended on April 3, 2022, while the first quarter of fiscal 2021 ended on April 4, 2021. Management Estimates The preparation of the condensed consolidated financial statements in conformity with U.S. GAAP requires our management to make estimates and assumptions that affect the amounts of assets and liabilities and disclosures of contingent assets and liabilities reported in these condensed consolidated financial statements and accompanying notes. We base our estimates on historical experience and various other assumptions believed to be reasonable. Our actual financial results could materially differ from those estimates. Significant estimates in these condensed consolidated financial statements include revenue recognition, specifically 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 assets and goodwill 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 goodwill and intangible assets acquired in a business combination; valuation of contingent consideration in a business combination; 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. Segment Information As a result of classification of the C&I Solutions business as discontinued operations, we now operate in a single operating segment, providing solar power systems and services to residential customers. While our chief executive officer, as the chief operating decision maker (“CODM”), reviews financial information by different functions and revenue streams, he considers the business on a consolidated basis for purposes of allocating resources and reviewing overall business performance. Summary of Selected Significant Accounting Policies The following significant accounting policies are updates to our significant accounting policies from our Annual Report on Form 10-K for the fiscal year ended January 2, 2022. Refer to our Annual Report on Form 10-K for the fiscal year ended January 2, 2022 for the full list of our significant accounting policies. There have been no other material changes to our significant accounting policies except as disclosed below. Retail installment contract receivables, net In the fourth quarter of fiscal 2021, we launched SunPower Financial TM , with an objective to make renewable energy affordable for more homeowners and increase access to underserved populations by offering a new line of financial products featuring expanded eligibility. The offering includes entering into a retail installment contract, together with a sale of the solar power system, offering a long-term loan to our customers at affordable rates to finance their purchase. These residential installment contracts allow us to extend credit to the customers to pay for the solar power systems they purchased, on an installment basis, with a term of typically 20 - 25 years. Revenue from the sale of solar power systems underlying these retail installment contracts is recognized similar to other contracts, when the solar power system is fully installed and final permit is received from the authority having jurisdiction, as we deem our performance obligation under the contract to be complete at such time, and the customer retains the significant risks and rewards of ownership of the solar power system. Further, in accordance with ASC 606, Revenue from Contracts with Customers , given the long-term nature of these receivables, a significant financing component is deemed to exist. We adjust the transaction price to quantify and defer the significant financing component at contract inception, using the discount rate that would be reflective of a separate financing transaction between the entity and its customer at contract inception. The significant financing component amount is deferred and recognized as revenue over the contract term. We recognize the interest income as revenue given the contracts are entered into in connection with the sales of our solar power systems and within our ordinary business activities. As of April 3, 2022, the receivables are classified within current and non-current assets, based on the underlying contractual payment terms, as “accounts receivable, net” and “other long-term assets” on our condensed consolidated balance sheet. We are actively looking to refinance the contracts with several third-party financial institutions. Recently Adopted Accounting Pronouncements In August 2020, the Financial Accounting Standards Board (“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 adopted the ASU during the first quarter of fiscal 2022. The adoption did not have any impact on our consolidated financial statements and related disclosures.

Discontinued Operations

Discontinued Operations	3 Months Ended
	Apr. 03, 2022
Discontinued Operations and Disposal Groups [Abstract]
Discontinued Operations	DISCONTINUED OPERATIONS On February 6, 2022, we signed a definitive agreement with TotalEnergies Renewables, a Delaware limited liability company and wholly owned subsidiary of TotalEnergies SE, for the sale of our C&I Solutions business. Subject to the terms and considerations set forth in the definitive agreement, TotalEnergies Renewables will acquire all of the issued and outstanding common stock of our C&I Solutions business for aggregate cash consideration of $190.0 million, which is subject to certain adjustments, including cash, indebtedness, working capital surplus/shortfall, and transaction expenses. We will receive additional consideration of up to $60.0 million in cash if certain legislative action is taken between February 6 and June 30, 2022. The sale is subject to customary closing conditions, including internal restructuring of certain legal entities before they are ready for sale, and is currently expected to close during the second quarter of fiscal 2022. In accordance with the accounting guidance, the C&I Solutions business is now presented as a discontinued operations as the signing of the definitive agreement has occurred and the sale represents a strategic shift in our business that has major impacts on our current and historical financial results. For all periods presented, the financial results of C&I Solutions are presented as net earnings from discontinued operations on the condensed consolidated statement of operations, as well as assets and liabilities of discontinued operations on the condensed consolidated balance sheets. The following table presents the assets and liabilities of C&I Solutions as of April 3, 2022 and January 2, 2022, presented as assets and liabilities of discontinued operations on the condensed consolidated balance sheet: April 3, 2022 January 2, 2022 Assets Current assets: Cash and cash equivalents $ 1,367 $ 3,395 Restricted cash and cash equivalents, current portion 2,970 3,466 Accounts receivable, net 21,945 5,522 Contract assets 52,649 55,673 Inventories 32,461 28,561 Advances to suppliers, current portion 2,814 2,813 Project assets - plants and land, current portion 10,173 8,105 Prepaid expenses and other current assets 14,290 13,257 Total current assets of discontinued operations 138,669 120,792 Restricted cash and cash equivalents, net of current portion 2,439 2,439 Property, plant and equipment, net 1,615 1,734 Operating lease right-of-use assets 27,351 27,572 Other long-term assets 9,410 15,781 Total assets of discontinued operations 1 $ 179,484 $ 168,318 Liabilities Current liabilities: Accounts payable $ 27,345 $ 38,541 Accrued liabilities 21,583 16,895 Operating lease liabilities, current portion 844 1,400 Contract liabilities, current portion 44,581 26,559 Short-term debt 2,778 3,101 Total current liabilities of discontinued operations 97,131 86,496 Operating lease liabilities, net of current portion 10,271 10,200 Contract liabilities, net of current portion 8,943 9,096 Other long-term liabilities 21,808 23,365 Total liabilities of discontinued operations 1 $ 138,153 $ 129,157 1 As the sale of the C&I Solutions business is probable and expected to close in the second quarter of fiscal 2022, all assets and liabilities of discontinued operations as of April 3, 2022 are presented as "current assets of discontinued operations" and "current liabilities of discontinued operations" on our condensed consolidated balance sheets. The following table presents financial results of C&I Solutions presented as discontinued operations in the condensed consolidated statement of operations in the corresponding periods: Three Months Ended April 3, 2022 April 4, 2021 Total revenues $ 28,454 $ 66,262 Total cost of revenues 45,030 62,354 Gross (loss) profit (16,576) 3,908 Operating expenses 8,350 5,868 Operating income (loss) (24,926) (1,960) Other income (expense), net (1,372) 106 (Loss) earnings before income taxes (26,298) (1,854) (Provision for) benefits from income taxes 343 98 Net (loss) income from discontinued operations, net of taxes (25,955) (1,756) Net (income) loss from discontinued operations attributable to noncontrolling interests 250 518 Net (loss) income from discontinued operations attributable to stockholders $ (25,705) $ (1,238) The following table presents significant non-cash items and capital expenditures of discontinued operations: Three Months Ended April 3, 2022 April 4, 2021 Depreciation and amortization $ 51 $ 1,746 Stock-based compensation $ 26 $ 662 (Gain) loss on sale of investments $ — $ (1,162)

Transactions With Total and Tot

Transactions With Total and Total Energies SE	3 Months Ended
	Apr. 03, 2022
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 April 3, 2022, ownership of our outstanding common stock by TotalEnergies SE and its affiliates was approximat ely 51%. Subsequent to the spin-off of Maxeon Solar Technologies, Ltd. (“Maxeon Solar”) completed on August 26, 2020 (the “Spin-Off”), Total received a pro rata distribution of ordinary shares of Maxeon Solar, and its percentage ownership of shares of SunPower did not change. 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 “April Affiliation Agreement Amendment”). The April Affiliation Agreement Amendment provides that our Board will include eleven 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 TotalEner gies 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. Pursuant to the April Affiliation Agreement Amendment, Mr. Werner resigned from his position as a member of the Board on November 1, 2021. On October 29, 2021, we entered into a further amendment to the Affiliation Agreement (the “October Affiliation Agreement Amendment”), which provides that our Board will re main at eleven members until March 31, 2022 and allows for the appointme nt of one additional independent director to fill the vacancy created by Mr. Werner’s resignation from the Board, which has been filled as of December 31, 2021. The October Affiliation Agreement Amendment further provides that, after March 31, 2022, the Board will revert to nine members, at which time one independent director and one Total designee will resign from the Board. As previously disclosed, on March 31, 2022, one independent director and one Total designee resigned from the Board, and the Board reverted to nine members as of such date. 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. The obligations of the agreement will be transferred with the definitive agreement for the sale of our C&I Solutions business to TotalEnergies Renewables. 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. The pending sale of our C&I Solutions business, and the resulting classification as discontinued operations in these condensed consolidated financial statements, does not qualify as a fundamental change under the indenture. Related-Party Transactions with Total and Its Affiliates: The following are balances and transactions entered into with Total and its affiliates. As of (In thousands) April 3, 2022 January 2, 2022 Accounts receivable $ 489 $ 238 Three Months Ended (In thousands) April 3, 2022 April 4, 2021 Interest expense: Interest expense incurred on the 4.00% debentures due 2023 $ 1,000 $ 1,000 In connection with the Spin-Off, we entered into certain agreements with Maxeon Solar, including a transition services agreement, supply agreement, and collaboration agreement. The below table summarizes our transactions with Maxeon Solar for the three months ended April 3, 2022: Three Months Ended (In thousands) April 3, 2022 April 4, 2021 Purchases of photo-voltaic modules (recorded in cost of revenues) $ 72,459 $ 58,154 Research and development expenses reimbursement received $ 9,474 $ 9,373 Income (expense) from transition services agreement, net $ (266) $ 3,087 We had the following balances related to transactions with Maxeon Solar as of April 3, 2022: As of (In thousands) April 3, 2022 January 2, 2022 Prepaid and other current assets $ 995 $ 1,928 Accrued liabilities $ 8,567 $ 7,493 Accounts payable $ 30,834 $ 27,724 Other long-term liabilities $ 1,458 $ 1,458 Refer to Note 3. Transactions with Total and TotalEnergies SE. for related-party transactions with Total and its affiliates and to Note 10. Equity Investments for related-party transactions with SunStrong and SunStrong Partners.

Revenue from Contracts with Cus

Revenue from Contracts with Customers	3 Months Ended
	Apr. 03, 2022
Revenue from Contract with Customer [Abstract]
Revenue from Contracts with Customers	REVENUE FROM CONTRACTS WITH CUSTOMERS Disaggregation of Revenue The following table represents disaggregated revenue from contracts with customers for the three months ended April 3, 2022 and April 4, 2021: Three Months Ended (In thousands) April 3, 2022 April 4, 2021 Solar power systems sales $ 271,644 $ 166,327 Component sales 59,877 50,732 Light commercial sales 14,196 15,718 Services and other 4,560 7,359 Total revenues $ 350,277 $ 240,136 We recognize revenue from contracts with customers when we have completed our performance obligations under an identified contract. The revenue is recognized in an amount that reflects the consideration for the corresponding performance obligations for the goods and services transferred. Contract Assets and Liabilities Contract assets consist of unbilled receivables which represent revenue that has been recognized in advance of billing the customer, which is common for our residential cash and loan customers. 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 5. 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) April 3, 2022 January 2, 2022 Contract assets $ 41,653 $ 31,925 Contract liabilities 85,186 80,990 During the three months ended April 3, 2022, we recognized revenue of $34.3 million that was included in contract liabilities as of January 2, 2022. During the three months ended April 4, 2021, we recognized revenue of $28.5 million that was included in contract liabilities as of January 3, 2021. As of April 3, 2022, we have entered into contracts with customers for sales of solar power systems, and components for an aggregate transaction price of $450.9 million, the substantial majority of which we expect to recognize over the next 12 months.

Balance Sheet Components

Balance Sheet Components	3 Months Ended
	Apr. 03, 2022
Balance Sheet Related Disclosures [Abstract]
Balance Sheet Components	BALANCE SHEET COMPONENTS Accounts Receivable, Net As of (In thousands) April 3, 2022 January 2, 2022 Accounts receivable, gross 1 $ 131,872 $ 135,912 Less: allowance for credit losses (15,181) (14,375) Less: allowance for sales returns (337) (269) Accounts receivable, net $ 116,354 $ 121,268 1 A lien exists on $83.8 million of our consolidated accounts receivable, gross, as of April 3, 2022 in connection with a Loan and Security Agreement entered into on March 29, 2019. See Note 11. Debt and Credit Sources . Allowance for Credit Losses Three Months Ended (In thousands) April 3, 2022 April 4, 2021 Balance at beginning of period $ 14,375 $ 13,850 Provision for credit losses 1,300 1,220 Write-offs (494) (826) Balance at end of period $ 15,181 $ 14,244 Inventories As of (In thousands) April 3, 2022 January 2, 2022 Photo-voltaic modules $ 134,417 $ 130,671 Microinverters 30,926 24,040 Energy Storage Systems 42,660 26,849 Other solar power system component materials 37,609 32,872 Inventories 1 2 $ 245,612 $ 214,432 1 A lien exists on $212.1 million of our gross inventory as of April 3, 2022 in connection with a Loan and Security Agreement entered into on March 29, 2019. See Note 11. Debt and Credit Sources. 2 Photovoltaic modules are classified as finished goods, while the remaining components of total inventories are classified as raw materials. Prepaid Expenses and Other Current Assets As of (In thousands) April 3, 2022 January 2, 2022 Deferred project costs $ 76,069 $ 52,165 Deferred costs for solar power systems 15,839 18,834 Related-party receivables 8,483 3,684 Other 27,880 25,529 Prepaid expenses and other current assets $ 128,271 $ 100,212 Property, Plant and Equipment, Net As of (In thousands) April 3, 2022 January 2, 2022 Manufacturing equipment $ 3,848 $ 3,848 Leasehold improvements 29,950 28,936 Solar power systems 7,784 6,500 Computer equipment 23,993 23,112 Internal-use software 35,471 34,083 Furniture and fixtures 8,906 8,582 Transportation equipment 2,224 2,174 Work-in-progress 11,295 4,076 Property, plant and equipment, gross 123,471 111,311 Less: accumulated depreciation and impairment (80,976) (77,751) Property, plant, and equipment, net 1 $ 42,495 $ 33,560 1 Property, plant, and equipment is predominantly located in the U.S. Other Long-term Assets As of (In thousands) April 3, 2022 January 2, 2022 Equity investments with readily determinable fair value $ — $ 91,473 Equity investments without readily determinable fair value 7,809 807 Equity investments with fair value option 8,528 8,374 Cloud computing arrangements implementation costs 1 9,654 11,692 Deposits with related parties 11,000 11,000 Retail installment contract receivables, net of current portion 63,758 — Long-term deferred project costs 4,422 4,542 Long-term prepaid taxes 1,464 4,145 Other 22,894 24,961 Other long-term assets $ 129,529 $ 156,994 1 Includes our implementation costs incurred in cloud computing arrangements (“CCA”) which are capitalized as other long-term assets in accordance with the guidance in ASC 350-40, Internal-Use Software . As of April 3, 2022 and January 2, 2022, $0.5 million and $0.1 million, respectively, was included in amortization expense related to the amortization of our capitalized CCA costs. Accrued Liabilities As of (In thousands) April 3, 2022 January 2, 2022 Employee compensation and employee benefits $ 24,429 $ 15,641 Interest payable 3,579 8,005 Short-term warranty reserves 40,650 24,158 Restructuring reserve 1,500 2,137 Legal expenses 9,391 9,052 Taxes payable 5,525 4,606 Other 44,495 38,381 Accrued liabilities $ 129,569 $ 101,980 Other Long-term Liabilities As of (In thousands) April 3, 2022 January 2, 2022 Deferred revenue $ 39,255 $ 40,321 Long-term warranty reserves 37,846 56,124 Unrecognized tax benefits 15,189 14,689 Long-term pension liability 3,802 3,758 Long-term deferred tax liabilities 1,692 15,834 Long-term taxes payable 866 866 Related-party liabilities 1,458 1,458 Other 9,187 8,147 Other long-term liabilities $ 109,295 $ 141,197 Accumulated Other Comprehensive Income As of (In thousands) April 3, 2022 January 2, 2022 Cumulative translation adjustment $ 9,622 $ 9,620 Net gain on long-term pension liability obligation 1,548 1,548 Net gain on long-term derivative financial instrument — — Deferred taxes — — Accumulated other comprehensive income $ 11,170 $ 11,168

Goodwill and Intangible Assets

Goodwill and Intangible Assets	3 Months Ended
	Apr. 03, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Assets	GOODWILL AND INTANGIBLE ASSETS Goodwill On October 4, 2021, we entered into a Securities Purchase Agreement to acquire all of the issued and outstanding membership interests of Blue Raven Solar Holdings LLC (“Blue Raven”), and 35% of the issued and outstanding membership interests in Albatross Software LLC, an affiliate of Blue Raven. Goodwill presented on our condensed consolidated financial statements represents Goodwill resulting from the acquisition of Blue Raven. Other Intangible Assets The following table represents our other intangible assets with finite useful lives: (In thousands) Gross Carrying Amount Accumulated Amortization Net Book Value As of April 3, 2022: Developed technology $ 3,700 $ (617) $ 3,083 Brand 15,800 (1,975) 13,825 Non-compete agreements 3,400 (566) 2,834 Software development costs 1 5,100 (66) 5,034 Total $ 28,000 $ (3,224) $ 24,776 As of January 2, 2022: Developed technology $ 3,700 $ (308) $ 3,392 Brand 15,800 (988) 14,812 Non-compete agreements 3,400 (283) 3,117 Software development costs 1 3,579 (21) 3,558 Total $ 26,479 $ (1,600) $ 24,879 1 Includes our external-use software development costs which are being capitalized in accordance with ASC 985-20, Software to be Sold or Leased Externally . Refer to Note 1. Organization and Summary of Significant Accounting Policies for details. Aggregate amortization expense for intangible assets was $1.6 million and zero for the three months ended April 3, 2022 and April 4, 2021, respectively. No impairment loss was recorded for intangible assets for the three months ended April 3, 2022 and April 4, 2021. As of April 3, 2022, the estimated future amortization expense related to intangible assets with finite useful lives for each of the next four fiscal years was as follows, through the end of the useful life of all intangible assets: Expected Amortization Expense Fiscal Year (In thousands) 2022 (remaining 9 months) $ 7,192 2023 8,776 2024 5,846 2025 2,962 Total $ 24,776

Fair Value Measurements

Fair Value Measurements	3 Months Ended
	Apr. 03, 2022
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 measured and recorded at fair value on a recurring basis as of April 3, 2022 and January 2, 2022. We had no liabilities to measure and record at fair value on a recurring basis as of April 3, 2022 and January 2, 2022. April 3, 2022 January 2, 2022 (In thousands) Total Fair Value Level 3 Level 2 Level 1 Total Fair Value Level 3 Level 2 Level 1 Assets Equity investments with fair value option ("FVO") 8,528 8,528 — — 8,374 8,374 — — Equity investments with readily determinable fair value 308,835 — — 308,835 457,352 — — 457,352 Total assets $ 317,363 $ 8,528 $ — $ 308,835 $ 465,726 $ 8,374 $ — $ 457,352 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 Capital Holdings, LLC ("SunStrong") and Dorado Development Partners, LLC (“Dorado DevCo”) joint ventures and SunStrong Partners, LLC (“SunStrong Partners”), to mitigate volatility in reported earnings that results from the use of different measurement attributes (see Note 10. 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, Dorado DevCo, 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 three months ended April 3, 2022. There were no internal movements between Level 1 or Level 2 fair value measurements to or from Level 3 fair value measurements for the three months ended April 3, 2022. (In thousands) Beginning balance as of January 2, 2022 Equity Distribution Additional Investment Other adjustment Ending balance as of April 3, 2022 Equity investments with FVO $8,374 $— $154 $ — $ 8,528 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 April 3, 2022. Included in the table are the inputs and range of possible inputs that have an effect on the overall valuation of the financial instruments. 2022 Assets: Fair value Valuation Technique Unobservable input Range (Weighted Average) Equity investments 8,528 Discounted cash flows Discount rate 12.5%-13% 1 7.5% 1 Total assets $ 8,528 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 months ended April 3, 2022 and April 4, 2021, we recorde d a gain of $1.3 million and a loss of $44.7 million , respe ctively, within “other, net” in our condensed consolidated statement of operations. During the three months ended April 3, 2022, we sold one million shares of Enphase common stock, in open market transactions for cash proceeds of $149.8 million . As of April 3, 2022, we retained 1.5 million shares of Enphase common stock. Retail installment contract receivables, net The aggregate carrying value of our long-term retail installment contracts as of April 3, 2022 was $65.1 million, included within “accounts receivable, net” and “other long-term assets” on our condensed consolidated balance sheets. We measure the retail installment contracts using the amortized cost method, where the significant financing component amount is deferred and recognized as revenue over the contract term. The fair value of these receivables as of April 3, 2022 was $55.5 million. The fair value was determined using Level 2 inputs based on weighted average market indexed-based pricing from our retail installment loan purchase agreement pricing list and quarterly market interest rates as reported by an independent pricing source.

Restructuring

Restructuring	3 Months Ended
	Apr. 03, 2022
Restructuring and Related Activities [Abstract]
Restructuring	RESTRUCTURING January 2021 Restructuring Plan During the first quarter of fiscal 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 implemented in the first quarter of fiscal 2021, a majority of our approximately 170 primarily manufacturing employees exited the business. We expected to incur restructuring charges totaling approximately $7.0 million to $9.0 million, consisting primarily of severance benefits (between $4.0 million and $5.0 million) and real estate lease termination costs (between $3.0 million and $4.0 million). 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, reduced our previously anticipated restructuring charges by approximately $1.2 million. As of April 3, 2022, we had incurred cumulative costs of approximately $3.6 million in restructuring charges, primarily relating to the payment of severance benefits. Remaining activities on this January 2021 restructuring plan relate to payroll for some employees expected to be incurred through 2022, concurrent with the end of the R&D services agreement, as well as repayment of the remaining outstanding lease payments with respect to the facility. 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 April 3, 2022, we had incurred cumulative costs of approximately $6.4 million in restructuring charges consisting primarily of severance and retention benefits. The 2019 restructuring plan is substantially completed, with the only remaining activities on the plan relating to severance and cash award payments for certain employees still retained by the restructuring plan. The following table summarizes the comparative periods-to-date restructuring charges by plan recognized in our condensed consolidated statements of operations: Three Months Ended (In thousands) April 3, 2022 April 4, 2021 Cumulative To Date January 2021 Restructuring Plan: Severance and benefits $ 37 $ 3,671 $ 3,554 Other costs 1 1 13 43 Total January 2021 Restructuring Plan 38 3,684 3,597 December 2019 Restructuring Plan: Severance and benefits 183 (28) 6,207 Other costs 1 — 112 159 Total December 2019 Restructuring Plan 183 84 6,366 Other restructuring 2 406 (2) 69,047 Total restructuring charges (credits) $ 627 $ 3,766 $ 79,010 1 Other costs primarily represent associated legal and advisory services, and costs of relocating employees. 2 Other restructuring charges during the three months ended April 3, 2022 includes $0.4 million of severance costs for certain employees as a result of our announcement to exit the Light Commercial business starting in the first quarter of fiscal 2022. The following table summarizes the restructuring reserve activities during the three months ended April 3, 2022: Three months ended (In thousands) January 2, 2022 Charges (Benefits) (Payments) Recoveries April 3, 2022 January 2021 Restructuring Plan: Severance and benefits $ 764 $ 37 $ (16) $ 785 Other costs 1 — 1 (1) — Total January 2021 Restructuring Plan 764 38 (17) 785 December 2019 Restructuring Plan: Severance and benefits 1,373 183 (1,245) 311 Other costs 1 — — — — Total December 2019 Restructuring Plan 1,373 183 (1,245) 311 Other restructuring 2 — 406 (2) 404 Total restructuring reserve activities $ 2,137 $ 627 $ (1,264) $ 1,500 1 Other costs primarily represent associated legal and advisory services, and costs of relocating employees. 2 Other restructuring activities during the three months ended April 3, 2022 includes $0.4 million of severance costs for certain employees as a result of our announcement to exit the Light Commercial business starting in the first quarter of fiscal 2022.

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Apr. 03, 2022
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	COMMITMENTS AND CONTINGENCIES Facility and Equipment Leases The table below presents the summarized quantitative information with regard to facility and equipment lease contracts we have entered into: Three Months Ended (In thousands) April 3, 2022 April 4, 2021 Operating leases: Operating lease expense $ 3,215 $ 3,471 Sublease income (87) (106) Rent expense $ 3,128 $ 3,365 Cash paid for amounts included in the measurement of lease liabilities Operating cash flows for operating leases $ 3,740 $ 3,919 Right-of-use assets obtained in exchange for leases $ 877 $ 11,528 Weighted-average remaining lease term (in years) - operating leases 3.4 5.9 Weighted-average discount rate - operating leases 8.4 % 8.9 % The future minimum lease payments to be paid under non-cancellable leases in effect as of April 3, 2022, are as follows (in thousands): As of April 3, 2022 Operating Leases 2022 (remaining nine months) $ 10,943 2023 12,864 2024 9,024 2025 5,249 2026 4,048 Thereafter 2,018 Total lease payments 44,146 Less: imputed interest (6,491) Total $ 37,655 Purchase Commitments Future purchase obligations under non-cancellable purchase orders and long-term supply agreements as o f April 3, 2022 are as follows: (In thousands) Fiscal 2022 (remaining nine months) Fiscal 2023 Fiscal 2024 Fiscal 2025 Fiscal 2026 Thereafter Total 1 Future purchase obligations $ 197,304 $ 200,711 $ 1,710 $ 775 $ 778 $ 4,529 $ 405,807 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 well as commitments to purchase Module-Level Power Electronics ("MLPEs”) supplied by one vendor. Our supply agreement with Maxeon Solar was amended on February 14, 2022, effective in the first quarter of fiscal 2022, and will remain in effect until December 31, 2023. The supply agreement also increases purchase prices and includes exclusivity provisions that will last until December 31, 2022 for certain products, and may be extended to October 13, 2023 for other products upon the satisfaction of certain conditions. 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 months ended April 3, 2022 and April 4, 2021: Three Months Ended (In thousands) April 3, 2022 April 4, 2021 Balance at the beginning of the period $ 80,282 $ 62,801 Accruals for warranties issued during the period 256 9,206 Settlements and adjustments during the period (2,042) (7,323) Balance at the end of the period $ 78,496 $ 64,684 In connection with the cracking issue identified in the fourth quarter of fiscal 2021, we recorded a one-time quality charge of $26.5 million during the fiscal year ended January 2, 2022. The total charge was estimated using assumptions of cost to be incurred on labor and material based on our plan and quoted third-party prices to replace all the installed and uninstalled connectors. During the first quarter of fiscal 2022, we proactively continued to replace all of the connectors and incurred an additional $1.0 million in costs in the quarter. Liabilities Associated with Uncertain Tax Positions Total liabilities associated with uncertain tax positions were $15.2 million and $14.7 million as of April 3, 2022 and January 2, 2022, respectively. These amounts are included within “other long-term liabilities” on our 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 Sustainable Infrastructure Capital, Inc. (“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. The indemnity expires in conjunction with the statute of limitation and recapture periods in accordance with the underlying laws and regulations for such ITCs and related benefits. 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 April 3, 2022 and January 2, 2022, our provision was $10.3 million and $9.6 million, respectively, 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 the benefit of 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 (the “Back-to-Back Agreement”). As we remain a party to the Hemlock Agreements, we are contractually liable to the vendor along with Maxeon Solar. Maxeon Solar’s remaining obligations under the Hemlock Agreements amount to $92.3 million for the remainder of fiscal 2022. This is gross of prepayments of $36.1 million as of April 3, 2022. We do not believe we have any current exposure under the Hemlock Agreements as of quarter ended April 3, 2022 as we are fully indemnified by Maxeon Solar under the Back-to-Back Agreement. As such, we do not carry any liability for the Hemlock Agreements on our condensed consolidated financial statements as long as Maxeon Solar complies with its obligations under the Hemlock Agreements and the Back-to-Back Agreement. Pursuant to the Separation and Distribution Agreement entered into by us and Maxeon Solar, we 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 $4.4 million equal to the fair value of the guarantee provided as of the period ended April 3, 2022. There has been no change in the fair value of the liability since the initial valuation of the guarantee. Legal Matters We are a party to various litigation matters and claims, including but not limited to intellectual property, environmental, and employment matters, 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	3 Months Ended
	Apr. 03, 2022
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 condensed consolidated statements of operations. Mark-to-market gains and losses on equity investments with readily determinable fair value are reflected as “other, net” under other income (expense), net in our condensed consolidated statements of operations. The carrying value of our equity investments, classified as “other long-term assets” on our condensed consolidated balance sheets, are as follows: As of (In thousands) April 3, 2022 January 2, 2022 Equity investments with readily determinable fair value: Enphase Energy, Inc. $ 308,835 $ 457,352 Total equity investments with readily determinable fair value 1 308,835 457,352 Equity investments without readily determinable fair value: OhmConnect investment 2 5,000 — Sea Bright investment 3 2,000 — Other equity investments without readily determinable fair value 809 807 Total equity investments without readily determinable fair value 7,809 807 Equity investments with fair value option: SunStrong Capital Holdings, LLC 8,374 8,374 Dorado Development Partners, LLC 154 — SunStrong Partners, LLC — — Total equity investment with fair value option 8,528 8,374 Total equity investments $ 325,172 $ 466,533 1 During the three months ended April 3, 2022, we sold one million shares of Enphase common stock for cash proceeds. As of April 3, 2022, we had 1.5 million shares of Enphase common stock, all of which are within current assets as short-term investments. Refer to Note 7. Fair Value Measurements and Note 4. Balance Sheet Components for details. 2 During the three months ended April 3, 2022, we made an equity investment in OhmConnect, Inc. (“OhmConnect”) of $5.0 million cash in exchange for an equity interest of 1.8% at the time of purchase. The investment is accounted for as an equity investment without readily determinable fair value in accordance with the guidance in ASC 321, Investments - Equity Securities . 3 During the three months ended April 3, 2022, we made an equity investment in Sea Bright Solar, Inc. (“Sea Bright”) to purchase 20% of the outstanding equity of Sea Bright, and paid a consideration of $2.0 million. In accordance with the guidance in ASC 323, Investments - Equity Method and Joint Ventures , this investment is accounted for as an equity method investment without readily determinable fair value as we exercise significant influence. 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 2, 2022 for further details on our various VIE arrangements ). Unconsolidated VIEs In March 2022, we entered into a joint venture with Hannon Armstrong and SunStrong to form Dorado DevCo, a jointly-owned entity, to hold our residential lease solar power projects. Similar to our prior joint ventures for residential lease assets, SunPower and Hannon Armstrong will make total capital contributions of up to $7.9 million into Dorado DevCo for 50% effective equity interest, each. SunStrong, our existing joint venture with Hannon Armstrong was appointed as a manager of the entity. We also entered into a development asset purchase agreement to provide development services for solar power systems sold into the fund. With respect to our interest in Dorado DevCo, we determined there is not sufficient equity at risk in the joint venture, thus, we determined the joint venture is a VIE as considered under the guidance in ASC 810, Consolidation. Based on the assessment of the required criteria for consolidation, we determined that SunStrong, as the manager of Dorado DevCo, has the power to make decisions over activities that significantly affect Dorado DevCo and subsidiaries. We and Hannon Armstrong do not have the power to unilaterally make decisions that affect the performance of the investee, and we do not have kick-out rights to unilaterally buyout the other party's equity interests, while Hannon Armstrong has a right to purchase our equity interest of the investee. In addition, much of our exposure to absorb the losses of the VIE that could potentially be significant to the VIE, or the right to receive the economic interest from the VIE, is in our capacity as a developer and service provider, where we provide development services at market terms. Therefore, we concluded we are not the primary beneficiary of the investee. During the first quarter of fiscal 2022, we made a $0.2 million capital contribution in the equity method investee. The investment contributed to our equity investment balance in SunStrong and is classified in “other long-term assets” on our condensed consolidated balance sheets. We have elected the FVO in accordance with the guidance in ASC 825, Financial Instruments , for our investments in SunStrong, SunStrong Partners, and Dorado DevCo, our unconsolidated VIEs. Refer to Note 7. 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 (In thousands) April 3, 2022 April 4, 2021 Summarized statements of operations information: Revenues $ 36,156 $ 33,097 Gross (loss) income (974) 1,214 Net income (loss) 1,753 (45,789) As of (In thousands) April 3, 2022 January 2, 2022 Summarized balance sheet information: Current assets $ 88,086 $ 93,722 Long-term assets 1,658,386 1,626,125 Current liabilities 62,029 65,872 Long-term liabilities 1,317,835 1,295,540 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) April 3, 2022 January 2, 2022 Accounts receivable $ 25,982 $ 28,900 Accrued liabilities 53 53 Contract liabilities 29,426 17,442 Three Months Ended (In thousands) April 3, 2022 April 4, 2021 Revenues and fees received from investees for products/services $ 45,520 $ 49,647 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 $4.3 million and $3.6 million f or the three months ended April 3, 2022 and April 4, 2021, 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 April 3, 2022, we had $66.3 million of assets from the consolidated VIEs.

Debt and Credit Sources

Debt and Credit Sources	3 Months Ended
	Apr. 03, 2022
Debt Disclosure [Abstract]
Debt and Credit Sources	DEBT AND CREDIT SOURCES The following table summarizes our outstanding debt on our condensed consolidated balance sheets: April 3, 2022 January 2, 2022 (In thousands) Face Value Short-term Long-term Total 1, 2 Face Value Short-term Long-term Total 1, 2 Recourse Debt: 4.00% convertible debentures due 2023 $ 424,991 $ 423,987 $ — $ 423,987 $ 424,991 $ — $ 423,677 $ 423,677 Asset-Backed Loan 60,132 60,019 — 60,019 60,800 60,579 — 60,579 Safe Harbor Loan 47,624 47,306 — 47,306 48,529 47,894 — 47,894 Total recourse debt $ 532,747 $ 531,312 $ — $ 531,312 $ 534,320 $ 108,473 $ 423,677 $ 532,150 Non-Recourse Debt: Vendor Financing and Other Debt $ 876 $ 538 $ 338 $ 876 $ 1,475 $ 1,095 $ 380 $ 1,475 Total non-recourse debt 876 538 338 876 1,475 1,095 380 1,475 Total $ 533,623 $ 531,850 $ 338 $ 532,188 $ 535,795 $ 109,568 $ 424,057 $ 533,625 1 Refers to the total carrying value of the outstanding debt arrangement. 2 See table below for discussion on the fair value of the convertible debt. The carrying value of all of our non-convertible debt approximates the fair value, based on our intention to fully repay or transfer the obligations at their face values plus any applicable interest, and is categorized within Level 3 of the fair value hierarchy. As of April 3, 2022, the aggregate future contractual maturities of our outstanding debt, at face value, were as follows: (In thousands) Fiscal 2022 (remaining nine months) Fiscal 2023 Fiscal 2024 Fiscal 2025 Fiscal 2026 Thereafter Total Aggregate future maturities of outstanding debt $ 108,247 $ 425,057 $ 69 $ 73 $ 76 $ 101 $ 533,623 Convertible Debt The following table summarizes our outstanding convertible debt: April 3, 2022 January 2, 2022 (In thousands) Carrying Value Face Value Fair Value 1 Carrying Value Face Value Fair Value 1 4.00% debentures due 2023 423,987 424,991 496,205 423,677 424,991 501,489 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. September 2011 Letter of Credit Facility with Deutsche Bank and Deutsche Bank Trust Company Americas (together, “Deutsche Bank Trust”) In September 2011, we entered into a letter of credit facility with Deutsche Bank Trust which provides for the issuance, upon our request, of letters of credit to support our obligations in an aggregate amount not to exceed $200.0 million. Each letter of credit issued under the facility is fully cash-collateralized and we have entered into a security agreement with Deutsche Bank Trust, granting them a security interest in a cash collateral account established for this purpose. As of April 3, 2022 and January 2, 2022, letters of credit issued and outstanding under the Deutsche Bank Trust facility totaled $0.2 million and $2.2 million, respectively, which were fully collateralized with restricted cash on the condensed consolidated balance sheets. October 2021 Letter of Credit Facility with Bank of the West In October 2021, we entered into a letter of credit facility with Bank of the West which provides for the issuance, upon our request, of letters of credit to support our obligations in an aggregate amount not to exceed $25.0 million. Each letter of credit issued under the facility is 50% cash secured and we have entered into a security agreement with Bank of the West, granting them a security interest in a cash collateral account established for this purpose. As of April 3, 2022 and January 2, 2022, letters of credit issued and outstanding under the Bank of the West facility totaled $21.6 million and $19.3 million, respectively, which were collateralized with restricted cash on the condensed consolidated balance sheets.

Related-Party Transactions

Related-Party Transactions	3 Months Ended
	Apr. 03, 2022
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 April 3, 2022, ownership of our outstanding common stock by TotalEnergies SE and its affiliates was approximat ely 51%. Subsequent to the spin-off of Maxeon Solar Technologies, Ltd. (“Maxeon Solar”) completed on August 26, 2020 (the “Spin-Off”), Total received a pro rata distribution of ordinary shares of Maxeon Solar, and its percentage ownership of shares of SunPower did not change. 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 “April Affiliation Agreement Amendment”). The April Affiliation Agreement Amendment provides that our Board will include eleven 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 TotalEner gies 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. Pursuant to the April Affiliation Agreement Amendment, Mr. Werner resigned from his position as a member of the Board on November 1, 2021. On October 29, 2021, we entered into a further amendment to the Affiliation Agreement (the “October Affiliation Agreement Amendment”), which provides that our Board will re main at eleven members until March 31, 2022 and allows for the appointme nt of one additional independent director to fill the vacancy created by Mr. Werner’s resignation from the Board, which has been filled as of December 31, 2021. The October Affiliation Agreement Amendment further provides that, after March 31, 2022, the Board will revert to nine members, at which time one independent director and one Total designee will resign from the Board. As previously disclosed, on March 31, 2022, one independent director and one Total designee resigned from the Board, and the Board reverted to nine members as of such date. 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. The obligations of the agreement will be transferred with the definitive agreement for the sale of our C&I Solutions business to TotalEnergies Renewables. 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. The pending sale of our C&I Solutions business, and the resulting classification as discontinued operations in these condensed consolidated financial statements, does not qualify as a fundamental change under the indenture. Related-Party Transactions with Total and Its Affiliates: The following are balances and transactions entered into with Total and its affiliates. As of (In thousands) April 3, 2022 January 2, 2022 Accounts receivable $ 489 $ 238 Three Months Ended (In thousands) April 3, 2022 April 4, 2021 Interest expense: Interest expense incurred on the 4.00% debentures due 2023 $ 1,000 $ 1,000 In connection with the Spin-Off, we entered into certain agreements with Maxeon Solar, including a transition services agreement, supply agreement, and collaboration agreement. The below table summarizes our transactions with Maxeon Solar for the three months ended April 3, 2022: Three Months Ended (In thousands) April 3, 2022 April 4, 2021 Purchases of photo-voltaic modules (recorded in cost of revenues) $ 72,459 $ 58,154 Research and development expenses reimbursement received $ 9,474 $ 9,373 Income (expense) from transition services agreement, net $ (266) $ 3,087 We had the following balances related to transactions with Maxeon Solar as of April 3, 2022: As of (In thousands) April 3, 2022 January 2, 2022 Prepaid and other current assets $ 995 $ 1,928 Accrued liabilities $ 8,567 $ 7,493 Accounts payable $ 30,834 $ 27,724 Other long-term liabilities $ 1,458 $ 1,458 Refer to Note 3. Transactions with Total and TotalEnergies SE. for related-party transactions with Total and its affiliates and to Note 10. Equity Investments for related-party transactions with SunStrong and SunStrong Partners.

Income Taxes

Income Taxes	3 Months Ended
	Apr. 03, 2022
Income Tax Disclosure [Abstract]
Income Taxes	INCOME TAXES In the three months ended April 3, 2022, our income tax benefit of $11.6 million on a loss from continuing operations before income taxes of $14.1 million was primarily due to the reversal of deferred taxes previously accrued for California as a result of the enactment of Senate Bill 113 which restored the ability to utilize net operating losses in 2022. Our income tax benefit of $5.1 million in the three months ended April 4, 2021 on a loss from continuing operations before income taxes of $52.9 million was primarily due to the windfall benefit from stock-based compensation deduction, and true-up of estimated state tax liability. In the three months ended April 3, 2022, our income tax benefit of $0.3 million on a loss from discontinued operations before income taxes of $26.3 million was primarily due to the state tax benefit of year to date operating losses. Our income tax benefit of $0.1 million in the three months ended April 4, 2021 on a loss from discontinued operations before income taxes of $1.9 million was primarily due to the state tax benefit of year to date operating losses. During the three months ended April 3, 2022, 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. Estimates of the annual effective tax rate at the end of interim periods are, of necessity, based on evaluations of possible future events and transactions and may be subject to subsequent refinement or revision. Total liabilities associated with uncertain tax positions were $15.2 million and $14.7 million as of April 3, 2022 and January 2, 2022, respectively. The increase of $0.5 million was primarily due to incremental accrual of interest and penalties on existing reserves and foreign exchange rate changes for non-US liabilities.

NET INCOME (LOSS) PER SHARE

NET INCOME (LOSS) PER SHARE	3 Months Ended
	Apr. 03, 2022
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 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 (In thousands, except per share amounts) April 3, 2022 April 4, 2021 Basic and diluted net (loss) income per share: Numerator: Net (loss) income attributable to stockholders - continuing operations $ (2,166) $ (47,147) Net (loss) income attributable to stockholders - discontinued operations (25,705) (1,238) Net (loss) income attributable to stockholders $ (27,871) $ (48,385) Denominator: Basic and dilutive weighted-average common shares 173,376 171,200 Basic and dilutive net (loss) income per share - continuing operations $ (0.01) $ (0.28) Basic and dilutive net (loss) income per share - discontinued operations (0.15) (0.01) Basic and dilutive net (loss) income per share $ (0.16) $ (0.29) 1 There was no add back of interest expense for the convertible debentures or effect of dilutive securities for the three months ended April 3, 2022 and April 4, 2021. 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 (In thousands) April 3, 2022 April 4, 2021 Restricted stock units 3,035 876 0.875% debentures due 2021 — 1,575 4.00% debentures due 2023 17,068 17,068

Stock-Based Compensation

Stock-Based Compensation	3 Months Ended
	Apr. 03, 2022
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 condensed consolidated statements of operations: Three Months Ended (In thousands) April 3, 2022 April 4, 2021 Cost of revenues $ 955 $ 584 Research and development 569 358 Sales, general, and administrative 3,877 3,409 Total stock-based compensation expense $ 5,401 $ 4,351

Organization and Summary of S_2

Organization and Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Apr. 03, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Principles of Consolidation	Principles of Consolidation The accompanying 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 2, 2022 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 2, 2022, as filed with the Securities and Exchange Commission (“SEC”) on February 25, 2022, but does not include all disclosures required by U.S. GAAP. The 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 2, 2022. The operating results for the three months ended April 3, 2022 are not necessarily indicative of the results that may be expected for fiscal year 2022, 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. Both the current fiscal year, fiscal 2022, and prior fiscal year, fiscal 2021, are 52-week fiscal years. The first quarter of fiscal 2022 ended on April 3, 2022, while the first quarter of fiscal 2021 ended on April 4, 2021.
Management Estimates	Management Estimates The preparation of the condensed consolidated financial statements in conformity with U.S. GAAP requires our management to make estimates and assumptions that affect the amounts of assets and liabilities and disclosures of contingent assets and liabilities reported in these condensed consolidated financial statements and accompanying notes. We base our estimates on historical experience and various other assumptions believed to be reasonable. Our actual financial results could materially differ from those estimates. Significant estimates in these condensed consolidated financial statements include revenue recognition, specifically 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 assets and goodwill 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 goodwill and intangible assets acquired in a business combination; valuation of contingent consideration in a business combination; 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.
Segment Information	Segment Information As a result of classification of the C&I Solutions business as discontinued operations, we now operate in a single operating segment, providing solar power systems and services to residential customers. While our chief executive officer, as the chief operating decision maker (“CODM”), reviews financial information by different functions and revenue streams, he considers the business on a consolidated basis for purposes of allocating resources and reviewing overall business performance.
Retail installment contract receivables, net	Retail installment contract receivables, net In the fourth quarter of fiscal 2021, we launched SunPower Financial TM , with an objective to make renewable energy affordable for more homeowners and increase access to underserved populations by offering a new line of financial products featuring expanded eligibility. The offering includes entering into a retail installment contract, together with a sale of the solar power system, offering a long-term loan to our customers at affordable rates to finance their purchase. These residential installment contracts allow us to extend credit to the customers to pay for the solar power systems they purchased, on an installment basis, with a term of typically 20 - 25 years. Revenue from the sale of solar power systems underlying these retail installment contracts is recognized similar to other contracts, when the solar power system is fully installed and final permit is received from the authority having jurisdiction, as we deem our performance obligation under the contract to be complete at such time, and the customer retains the significant risks and rewards of ownership of the solar power system. Further, in accordance with ASC 606, Revenue from Contracts with Customers , given the long-term nature of these receivables, a significant financing component is deemed to exist. We adjust the transaction price to quantify and defer the significant financing component at contract inception, using the discount rate that would be reflective of a separate financing transaction between the entity and its customer at contract inception. The significant financing component amount is deferred and recognized as revenue over the contract term. We recognize the interest income as revenue given the contracts are entered into in connection with the sales of our solar power systems and within our ordinary business activities.
Recently Adopted Accounting Pronouncements and Recent Accounting Pronouncements Not Yet Adopted	Recently Adopted Accounting Pronouncements In August 2020, the Financial Accounting Standards Board (“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 adopted the ASU during the first quarter of fiscal 2022. The adoption did not have any impact on our consolidated financial statements and related disclosures.

Discontinued Operations (Tables

Discontinued Operations (Tables)	3 Months Ended
	Apr. 03, 2022
Discontinued Operations and Disposal Groups [Abstract]
Disposal Groups, Including Discontinued Operations	The following table presents the assets and liabilities of C&I Solutions as of April 3, 2022 and January 2, 2022, presented as assets and liabilities of discontinued operations on the condensed consolidated balance sheet: April 3, 2022 January 2, 2022 Assets Current assets: Cash and cash equivalents $ 1,367 $ 3,395 Restricted cash and cash equivalents, current portion 2,970 3,466 Accounts receivable, net 21,945 5,522 Contract assets 52,649 55,673 Inventories 32,461 28,561 Advances to suppliers, current portion 2,814 2,813 Project assets - plants and land, current portion 10,173 8,105 Prepaid expenses and other current assets 14,290 13,257 Total current assets of discontinued operations 138,669 120,792 Restricted cash and cash equivalents, net of current portion 2,439 2,439 Property, plant and equipment, net 1,615 1,734 Operating lease right-of-use assets 27,351 27,572 Other long-term assets 9,410 15,781 Total assets of discontinued operations 1 $ 179,484 $ 168,318 Liabilities Current liabilities: Accounts payable $ 27,345 $ 38,541 Accrued liabilities 21,583 16,895 Operating lease liabilities, current portion 844 1,400 Contract liabilities, current portion 44,581 26,559 Short-term debt 2,778 3,101 Total current liabilities of discontinued operations 97,131 86,496 Operating lease liabilities, net of current portion 10,271 10,200 Contract liabilities, net of current portion 8,943 9,096 Other long-term liabilities 21,808 23,365 Total liabilities of discontinued operations 1 $ 138,153 $ 129,157 1 As the sale of the C&I Solutions business is probable and expected to close in the second quarter of fiscal 2022, all assets and liabilities of discontinued operations as of April 3, 2022 are presented as "current assets of discontinued operations" and "current liabilities of discontinued operations" on our condensed consolidated balance sheets. The following table presents financial results of C&I Solutions presented as discontinued operations in the condensed consolidated statement of operations in the corresponding periods: Three Months Ended April 3, 2022 April 4, 2021 Total revenues $ 28,454 $ 66,262 Total cost of revenues 45,030 62,354 Gross (loss) profit (16,576) 3,908 Operating expenses 8,350 5,868 Operating income (loss) (24,926) (1,960) Other income (expense), net (1,372) 106 (Loss) earnings before income taxes (26,298) (1,854) (Provision for) benefits from income taxes 343 98 Net (loss) income from discontinued operations, net of taxes (25,955) (1,756) Net (income) loss from discontinued operations attributable to noncontrolling interests 250 518 Net (loss) income from discontinued operations attributable to stockholders $ (25,705) $ (1,238) The following table presents significant non-cash items and capital expenditures of discontinued operations: Three Months Ended April 3, 2022 April 4, 2021 Depreciation and amortization $ 51 $ 1,746 Stock-based compensation $ 26 $ 662 (Gain) loss on sale of investments $ — $ (1,162)

Transactions With Total and T_2

Transactions With Total and Total Energies SE (Tables)	3 Months Ended
	Apr. 03, 2022
Related Party Transactions [Abstract]
Schedule of Related Party Transactions	The following are balances and transactions entered into with Total and its affiliates. As of (In thousands) April 3, 2022 January 2, 2022 Accounts receivable $ 489 $ 238 Three Months Ended (In thousands) April 3, 2022 April 4, 2021 Interest expense: Interest expense incurred on the 4.00% debentures due 2023 $ 1,000 $ 1,000 Related-party transactions and balances with SunStrong and SunStrong Partners are as follows: As of (In thousands) April 3, 2022 January 2, 2022 Accounts receivable $ 25,982 $ 28,900 Accrued liabilities 53 53 Contract liabilities 29,426 17,442 Three Months Ended (In thousands) April 3, 2022 April 4, 2021 Revenues and fees received from investees for products/services $ 45,520 $ 49,647 The below table summarizes our transactions with Maxeon Solar for the three months ended April 3, 2022: Three Months Ended (In thousands) April 3, 2022 April 4, 2021 Purchases of photo-voltaic modules (recorded in cost of revenues) $ 72,459 $ 58,154 Research and development expenses reimbursement received $ 9,474 $ 9,373 Income (expense) from transition services agreement, net $ (266) $ 3,087 We had the following balances related to transactions with Maxeon Solar as of April 3, 2022: As of (In thousands) April 3, 2022 January 2, 2022 Prepaid and other current assets $ 995 $ 1,928 Accrued liabilities $ 8,567 $ 7,493 Accounts payable $ 30,834 $ 27,724 Other long-term liabilities $ 1,458 $ 1,458

Revenue from Contracts with C_2

Revenue from Contracts with Customers (Tables)	3 Months Ended
	Apr. 03, 2022
Revenue from Contract with Customer [Abstract]
Schedule of Disaggregation of Revenue	The following table represents disaggregated revenue from contracts with customers for the three months ended April 3, 2022 and April 4, 2021: Three Months Ended (In thousands) April 3, 2022 April 4, 2021 Solar power systems sales $ 271,644 $ 166,327 Component sales 59,877 50,732 Light commercial sales 14,196 15,718 Services and other 4,560 7,359 Total revenues $ 350,277 $ 240,136
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) April 3, 2022 January 2, 2022 Contract assets $ 41,653 $ 31,925 Contract liabilities 85,186 80,990

Balance Sheet Components (Table

Balance Sheet Components (Tables)	3 Months Ended
	Apr. 03, 2022
Balance Sheet Related Disclosures [Abstract]
Schedule of Accounts Receivable, Net	As of (In thousands) April 3, 2022 January 2, 2022 Accounts receivable, gross 1 $ 131,872 $ 135,912 Less: allowance for credit losses (15,181) (14,375) Less: allowance for sales returns (337) (269) Accounts receivable, net $ 116,354 $ 121,268 1 A lien exists on $83.8 million of our consolidated accounts receivable, gross, as of April 3, 2022 in connection with a Loan and Security Agreement entered into on March 29, 2019. See Note 11. Debt and Credit Sources .
Schedule of Accounts Receivable, Allowance for Credit Loss	Three Months Ended (In thousands) April 3, 2022 April 4, 2021 Balance at beginning of period $ 14,375 $ 13,850 Provision for credit losses 1,300 1,220 Write-offs (494) (826) Balance at end of period $ 15,181 $ 14,244
Schedule of Inventory	As of (In thousands) April 3, 2022 January 2, 2022 Photo-voltaic modules $ 134,417 $ 130,671 Microinverters 30,926 24,040 Energy Storage Systems 42,660 26,849 Other solar power system component materials 37,609 32,872 Inventories 1 2 $ 245,612 $ 214,432 1 A lien exists on $212.1 million of our gross inventory as of April 3, 2022 in connection with a Loan and Security Agreement entered into on March 29, 2019. See Note 11. Debt and Credit Sources.
Schedule of Prepaid Expenses and Other Current Assets	As of (In thousands) April 3, 2022 January 2, 2022 Deferred project costs $ 76,069 $ 52,165 Deferred costs for solar power systems 15,839 18,834 Related-party receivables 8,483 3,684 Other 27,880 25,529 Prepaid expenses and other current assets $ 128,271 $ 100,212
Schedule of Property, Plant and Equipment, Net	As of (In thousands) April 3, 2022 January 2, 2022 Manufacturing equipment $ 3,848 $ 3,848 Leasehold improvements 29,950 28,936 Solar power systems 7,784 6,500 Computer equipment 23,993 23,112 Internal-use software 35,471 34,083 Furniture and fixtures 8,906 8,582 Transportation equipment 2,224 2,174 Work-in-progress 11,295 4,076 Property, plant and equipment, gross 123,471 111,311 Less: accumulated depreciation and impairment (80,976) (77,751) Property, plant, and equipment, net 1 $ 42,495 $ 33,560
Schedule of Other Long-Term Assets	As of (In thousands) April 3, 2022 January 2, 2022 Equity investments with readily determinable fair value $ — $ 91,473 Equity investments without readily determinable fair value 7,809 807 Equity investments with fair value option 8,528 8,374 Cloud computing arrangements implementation costs 1 9,654 11,692 Deposits with related parties 11,000 11,000 Retail installment contract receivables, net of current portion 63,758 — Long-term deferred project costs 4,422 4,542 Long-term prepaid taxes 1,464 4,145 Other 22,894 24,961 Other long-term assets $ 129,529 $ 156,994 1 Includes our implementation costs incurred in cloud computing arrangements (“CCA”) which are capitalized as other long-term assets in accordance with the guidance in ASC 350-40, Internal-Use Software
Schedule of Accrued Liabilities	As of (In thousands) April 3, 2022 January 2, 2022 Employee compensation and employee benefits $ 24,429 $ 15,641 Interest payable 3,579 8,005 Short-term warranty reserves 40,650 24,158 Restructuring reserve 1,500 2,137 Legal expenses 9,391 9,052 Taxes payable 5,525 4,606 Other 44,495 38,381 Accrued liabilities $ 129,569 $ 101,980
Schedule of Other Long-Term Liabilities	As of (In thousands) April 3, 2022 January 2, 2022 Deferred revenue $ 39,255 $ 40,321 Long-term warranty reserves 37,846 56,124 Unrecognized tax benefits 15,189 14,689 Long-term pension liability 3,802 3,758 Long-term deferred tax liabilities 1,692 15,834 Long-term taxes payable 866 866 Related-party liabilities 1,458 1,458 Other 9,187 8,147 Other long-term liabilities $ 109,295 $ 141,197
Schedule of Accumulated Other Comprehensive Income	As of (In thousands) April 3, 2022 January 2, 2022 Cumulative translation adjustment $ 9,622 $ 9,620 Net gain on long-term pension liability obligation 1,548 1,548 Net gain on long-term derivative financial instrument — — Deferred taxes — — Accumulated other comprehensive income $ 11,170 $ 11,168

Goodwill and Intangible Assets

Goodwill and Intangible Assets (Tables)	3 Months Ended
	Apr. 03, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Other Intangible Assets	The following table represents our other intangible assets with finite useful lives: (In thousands) Gross Carrying Amount Accumulated Amortization Net Book Value As of April 3, 2022: Developed technology $ 3,700 $ (617) $ 3,083 Brand 15,800 (1,975) 13,825 Non-compete agreements 3,400 (566) 2,834 Software development costs 1 5,100 (66) 5,034 Total $ 28,000 $ (3,224) $ 24,776 As of January 2, 2022: Developed technology $ 3,700 $ (308) $ 3,392 Brand 15,800 (988) 14,812 Non-compete agreements 3,400 (283) 3,117 Software development costs 1 3,579 (21) 3,558 Total $ 26,479 $ (1,600) $ 24,879 1 Includes our external-use software development costs which are being capitalized in accordance with ASC 985-20, Software to be Sold or Leased Externally . Refer to Note 1. Organization and Summary of Significant Accounting Policies for details.
Schedule of Future Amortization Expense	As of April 3, 2022, the estimated future amortization expense related to intangible assets with finite useful lives for each of the next four fiscal years was as follows, through the end of the useful life of all intangible assets: Expected Amortization Expense Fiscal Year (In thousands) 2022 (remaining 9 months) $ 7,192 2023 8,776 2024 5,846 2025 2,962 Total $ 24,776

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
	Apr. 03, 2022
Fair Value Disclosures [Abstract]
Schedule of Assets and Liabilities Measured and Recorded at Fair Value on a Recurring Basis	The following table summarizes our assets measured and recorded at fair value on a recurring basis as of April 3, 2022 and January 2, 2022. We had no liabilities to measure and record at fair value on a recurring basis as of April 3, 2022 and January 2, 2022. April 3, 2022 January 2, 2022 (In thousands) Total Fair Value Level 3 Level 2 Level 1 Total Fair Value Level 3 Level 2 Level 1 Assets Equity investments with fair value option ("FVO") 8,528 8,528 — — 8,374 8,374 — — Equity investments with readily determinable fair value 308,835 — — 308,835 457,352 — — 457,352 Total assets $ 317,363 $ 8,528 $ — $ 308,835 $ 465,726 $ 8,374 $ — $ 457,352
Schedule of Equity Method Investment Movements	The following table summarizes movements in equity investments for the three months ended April 3, 2022. There were no internal movements between Level 1 or Level 2 fair value measurements to or from Level 3 fair value measurements for the three months ended April 3, 2022. (In thousands) Beginning balance as of January 2, 2022 Equity Distribution Additional Investment Other adjustment Ending balance as of April 3, 2022 Equity investments with FVO $8,374 $— $154 $ — $ 8,528
Schedule of 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 April 3, 2022. Included in the table are the inputs and range of possible inputs that have an effect on the overall valuation of the financial instruments. 2022 Assets: Fair value Valuation Technique Unobservable input Range (Weighted Average) Equity investments 8,528 Discounted cash flows Discount rate 12.5%-13% 1 7.5% 1 Total assets $ 8,528 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.

Restructuring (Tables)

Restructuring (Tables)	3 Months Ended
	Apr. 03, 2022
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 condensed consolidated statements of operations: Three Months Ended (In thousands) April 3, 2022 April 4, 2021 Cumulative To Date January 2021 Restructuring Plan: Severance and benefits $ 37 $ 3,671 $ 3,554 Other costs 1 1 13 43 Total January 2021 Restructuring Plan 38 3,684 3,597 December 2019 Restructuring Plan: Severance and benefits 183 (28) 6,207 Other costs 1 — 112 159 Total December 2019 Restructuring Plan 183 84 6,366 Other restructuring 2 406 (2) 69,047 Total restructuring charges (credits) $ 627 $ 3,766 $ 79,010 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 three months ended April 3, 2022: Three months ended (In thousands) January 2, 2022 Charges (Benefits) (Payments) Recoveries April 3, 2022 January 2021 Restructuring Plan: Severance and benefits $ 764 $ 37 $ (16) $ 785 Other costs 1 — 1 (1) — Total January 2021 Restructuring Plan 764 38 (17) 785 December 2019 Restructuring Plan: Severance and benefits 1,373 183 (1,245) 311 Other costs 1 — — — — Total December 2019 Restructuring Plan 1,373 183 (1,245) 311 Other restructuring 2 — 406 (2) 404 Total restructuring reserve activities $ 2,137 $ 627 $ (1,264) $ 1,500 1 Other costs primarily represent associated legal and advisory services, and costs of relocating employees. 2 Other restructuring activities during the three months ended April 3, 2022 includes $0.4 million of severance costs for certain employees as a result of our announcement to exit the Light Commercial business starting in the first quarter of fiscal 2022.

Commitments and Contingencies (

Commitments and Contingencies (Tables)	3 Months Ended
	Apr. 03, 2022
Commitments and Contingencies Disclosure [Abstract]
Schedule of Lease, Cost	The table below presents the summarized quantitative information with regard to facility and equipment lease contracts we have entered into: Three Months Ended (In thousands) April 3, 2022 April 4, 2021 Operating leases: Operating lease expense $ 3,215 $ 3,471 Sublease income (87) (106) Rent expense $ 3,128 $ 3,365 Cash paid for amounts included in the measurement of lease liabilities Operating cash flows for operating leases $ 3,740 $ 3,919 Right-of-use assets obtained in exchange for leases $ 877 $ 11,528 Weighted-average remaining lease term (in years) - operating leases 3.4 5.9 Weighted-average discount rate - operating leases 8.4 % 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 April 3, 2022, are as follows (in thousands): As of April 3, 2022 Operating Leases 2022 (remaining nine months) $ 10,943 2023 12,864 2024 9,024 2025 5,249 2026 4,048 Thereafter 2,018 Total lease payments 44,146 Less: imputed interest (6,491) Total $ 37,655
Schedule of Future Purchase Obligations	Future purchase obligations under non-cancellable purchase orders and long-term supply agreements as o f April 3, 2022 are as follows: (In thousands) Fiscal 2022 (remaining nine months) Fiscal 2023 Fiscal 2024 Fiscal 2025 Fiscal 2026 Thereafter Total 1 Future purchase obligations $ 197,304 $ 200,711 $ 1,710 $ 775 $ 778 $ 4,529 $ 405,807
Schedule of Product Warranty Liability	The following table summarizes accrued warranty activities for the three months ended April 3, 2022 and April 4, 2021: Three Months Ended (In thousands) April 3, 2022 April 4, 2021 Balance at the beginning of the period $ 80,282 $ 62,801 Accruals for warranties issued during the period 256 9,206 Settlements and adjustments during the period (2,042) (7,323) Balance at the end of the period $ 78,496 $ 64,684

Equity Investments (Tables)

Equity Investments (Tables)	3 Months Ended
	Apr. 03, 2022
Equity Method Investments and Joint Ventures [Abstract]
Schedule of Equity Method Investments	The carrying value of our equity investments, classified as “other long-term assets” on our condensed consolidated balance sheets, are as follows: As of (In thousands) April 3, 2022 January 2, 2022 Equity investments with readily determinable fair value: Enphase Energy, Inc. $ 308,835 $ 457,352 Total equity investments with readily determinable fair value 1 308,835 457,352 Equity investments without readily determinable fair value: OhmConnect investment 2 5,000 — Sea Bright investment 3 2,000 — Other equity investments without readily determinable fair value 809 807 Total equity investments without readily determinable fair value 7,809 807 Equity investments with fair value option: SunStrong Capital Holdings, LLC 8,374 8,374 Dorado Development Partners, LLC 154 — SunStrong Partners, LLC — — Total equity investment with fair value option 8,528 8,374 Total equity investments $ 325,172 $ 466,533 1 During the three months ended April 3, 2022, we sold one million shares of Enphase common stock for cash proceeds. As of April 3, 2022, we had 1.5 million shares of Enphase common stock, all of which are within current assets as short-term investments. Refer to Note 7. Fair Value Measurements and Note 4. Balance Sheet Components for details. 2 During the three months ended April 3, 2022, we made an equity investment in OhmConnect, Inc. (“OhmConnect”) of $5.0 million cash in exchange for an equity interest of 1.8% at the time of purchase. The investment is accounted for as an equity investment without readily determinable fair value in accordance with the guidance in ASC 321, Investments - Equity Securities . 3 During the three months ended April 3, 2022, we made an equity investment in Sea Bright Solar, Inc. (“Sea Bright”) to purchase 20% of the outstanding equity of Sea Bright, and paid a consideration of $2.0 million. In accordance with the guidance in ASC 323, Investments - Equity Method and Joint Ventures
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 (In thousands) April 3, 2022 April 4, 2021 Summarized statements of operations information: Revenues $ 36,156 $ 33,097 Gross (loss) income (974) 1,214 Net income (loss) 1,753 (45,789) As of (In thousands) April 3, 2022 January 2, 2022 Summarized balance sheet information: Current assets $ 88,086 $ 93,722 Long-term assets 1,658,386 1,626,125 Current liabilities 62,029 65,872 Long-term liabilities 1,317,835 1,295,540 1 Note that amounts are reported one quarter in arrears as permitted by applicable guidance.
Schedule of Related Party Transactions	The following are balances and transactions entered into with Total and its affiliates. As of (In thousands) April 3, 2022 January 2, 2022 Accounts receivable $ 489 $ 238 Three Months Ended (In thousands) April 3, 2022 April 4, 2021 Interest expense: Interest expense incurred on the 4.00% debentures due 2023 $ 1,000 $ 1,000 Related-party transactions and balances with SunStrong and SunStrong Partners are as follows: As of (In thousands) April 3, 2022 January 2, 2022 Accounts receivable $ 25,982 $ 28,900 Accrued liabilities 53 53 Contract liabilities 29,426 17,442 Three Months Ended (In thousands) April 3, 2022 April 4, 2021 Revenues and fees received from investees for products/services $ 45,520 $ 49,647 The below table summarizes our transactions with Maxeon Solar for the three months ended April 3, 2022: Three Months Ended (In thousands) April 3, 2022 April 4, 2021 Purchases of photo-voltaic modules (recorded in cost of revenues) $ 72,459 $ 58,154 Research and development expenses reimbursement received $ 9,474 $ 9,373 Income (expense) from transition services agreement, net $ (266) $ 3,087 We had the following balances related to transactions with Maxeon Solar as of April 3, 2022: As of (In thousands) April 3, 2022 January 2, 2022 Prepaid and other current assets $ 995 $ 1,928 Accrued liabilities $ 8,567 $ 7,493 Accounts payable $ 30,834 $ 27,724 Other long-term liabilities $ 1,458 $ 1,458

Debt and Credit Sources (Tables

Debt and Credit Sources (Tables)	3 Months Ended
	Apr. 03, 2022
Debt Disclosure [Abstract]
Schedule of Debt	The following table summarizes our outstanding debt on our condensed consolidated balance sheets: April 3, 2022 January 2, 2022 (In thousands) Face Value Short-term Long-term Total 1, 2 Face Value Short-term Long-term Total 1, 2 Recourse Debt: 4.00% convertible debentures due 2023 $ 424,991 $ 423,987 $ — $ 423,987 $ 424,991 $ — $ 423,677 $ 423,677 Asset-Backed Loan 60,132 60,019 — 60,019 60,800 60,579 — 60,579 Safe Harbor Loan 47,624 47,306 — 47,306 48,529 47,894 — 47,894 Total recourse debt $ 532,747 $ 531,312 $ — $ 531,312 $ 534,320 $ 108,473 $ 423,677 $ 532,150 Non-Recourse Debt: Vendor Financing and Other Debt $ 876 $ 538 $ 338 $ 876 $ 1,475 $ 1,095 $ 380 $ 1,475 Total non-recourse debt 876 538 338 876 1,475 1,095 380 1,475 Total $ 533,623 $ 531,850 $ 338 $ 532,188 $ 535,795 $ 109,568 $ 424,057 $ 533,625 1 Refers to the total carrying value of the outstanding debt arrangement. 2 See table below for discussion on the fair value of the convertible debt. The carrying value of all of our non-convertible debt approximates the fair value, based on our intention to fully repay or transfer the obligations at their face values plus any applicable interest, and is categorized within Level 3 of the fair value hierarchy.
Schedule of Maturities of Debt	As of April 3, 2022, the aggregate future contractual maturities of our outstanding debt, at face value, were as follows: (In thousands) Fiscal 2022 (remaining nine months) Fiscal 2023 Fiscal 2024 Fiscal 2025 Fiscal 2026 Thereafter Total Aggregate future maturities of outstanding debt $ 108,247 $ 425,057 $ 69 $ 73 $ 76 $ 101 $ 533,623
Schedule of Long-Term Convertible Debt Instruments	The following table summarizes our outstanding convertible debt: April 3, 2022 January 2, 2022 (In thousands) Carrying Value Face Value Fair Value 1 Carrying Value Face Value Fair Value 1 4.00% debentures due 2023 423,987 424,991 496,205 423,677 424,991 501,489 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)	3 Months Ended
	Apr. 03, 2022
Related Party Transactions [Abstract]
Schedule of Related Party Transactions	The following are balances and transactions entered into with Total and its affiliates. As of (In thousands) April 3, 2022 January 2, 2022 Accounts receivable $ 489 $ 238 Three Months Ended (In thousands) April 3, 2022 April 4, 2021 Interest expense: Interest expense incurred on the 4.00% debentures due 2023 $ 1,000 $ 1,000 Related-party transactions and balances with SunStrong and SunStrong Partners are as follows: As of (In thousands) April 3, 2022 January 2, 2022 Accounts receivable $ 25,982 $ 28,900 Accrued liabilities 53 53 Contract liabilities 29,426 17,442 Three Months Ended (In thousands) April 3, 2022 April 4, 2021 Revenues and fees received from investees for products/services $ 45,520 $ 49,647 The below table summarizes our transactions with Maxeon Solar for the three months ended April 3, 2022: Three Months Ended (In thousands) April 3, 2022 April 4, 2021 Purchases of photo-voltaic modules (recorded in cost of revenues) $ 72,459 $ 58,154 Research and development expenses reimbursement received $ 9,474 $ 9,373 Income (expense) from transition services agreement, net $ (266) $ 3,087 We had the following balances related to transactions with Maxeon Solar as of April 3, 2022: As of (In thousands) April 3, 2022 January 2, 2022 Prepaid and other current assets $ 995 $ 1,928 Accrued liabilities $ 8,567 $ 7,493 Accounts payable $ 30,834 $ 27,724 Other long-term liabilities $ 1,458 $ 1,458

Net Income (Loss) Per Share (Ta

Net Income (Loss) Per Share (Tables)	3 Months Ended
	Apr. 03, 2022
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 (In thousands, except per share amounts) April 3, 2022 April 4, 2021 Basic and diluted net (loss) income per share: Numerator: Net (loss) income attributable to stockholders - continuing operations $ (2,166) $ (47,147) Net (loss) income attributable to stockholders - discontinued operations (25,705) (1,238) Net (loss) income attributable to stockholders $ (27,871) $ (48,385) Denominator: Basic and dilutive weighted-average common shares 173,376 171,200 Basic and dilutive net (loss) income per share - continuing operations $ (0.01) $ (0.28) Basic and dilutive net (loss) income per share - discontinued operations (0.15) (0.01) Basic and dilutive net (loss) income per share $ (0.16) $ (0.29)
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 (In thousands) April 3, 2022 April 4, 2021 Restricted stock units 3,035 876 0.875% debentures due 2021 — 1,575 4.00% debentures due 2023 17,068 17,068

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	3 Months Ended
	Apr. 03, 2022
Share-based Payment Arrangement [Abstract]
Schedule 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 condensed consolidated statements of operations: Three Months Ended (In thousands) April 3, 2022 April 4, 2021 Cost of revenues $ 955 $ 584 Research and development 569 358 Sales, general, and administrative 3,877 3,409 Total stock-based compensation expense $ 5,401 $ 4,351

Organization and Summary of S_3

Organization and Summary of Significant Accounting Policies (Details)	3 Months Ended
	Apr. 03, 2022USD ($)segment	Apr. 04, 2021	Jun. 30, 2022USD ($)	Feb. 06, 2022USD ($)	Jan. 02, 2022USD ($)	Dec. 31, 2015USD ($)
Debt Instrument [Line Items]
Debt face amount	$ 533,623,000				$ 535,795,000
Number of operating segment | segment	1
Minimum
Debt Instrument [Line Items]
Installment basis term		20 years
Maximum
Debt Instrument [Line Items]
Installment basis term		25 years
4.00% debentures due 2023 | Convertible Debt
Debt Instrument [Line Items]
Debt face amount	$ 424,991,000				$ 424,991,000	$ 425,000,000
Interest rate						4.00%
4.00% debentures due 2023 | Convertible Debt | TotalEnergies
Debt Instrument [Line Items]
Debt face amount						$ 100,000,000
Disposal Group, Disposed of by Sale, Not Discontinued Operations | C&I Solutions
Debt Instrument [Line Items]
Consideration on pending transaction				$ 190,000,000
Disposal Group, Disposed of by Sale, Not Discontinued Operations | C&I Solutions | Forecast
Debt Instrument [Line Items]
Contingent consideration on pending transaction			$ 60,000,000

Discontinued Operations - Narra

Discontinued Operations - Narrative (Details) - Disposal Group, Disposed of by Sale, Not Discontinued Operations - C&I Solutions - USD ($)	Jun. 30, 2022	Feb. 06, 2022
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Consideration on pending transaction		$ 190,000,000
Forecast
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Contingent consideration on pending transaction	$ 60,000,000

Discontinued Operations - Asset

Discontinued Operations - Assets and Liabilities (Details) - USD ($) $ in Thousands		Apr. 03, 2022	Jan. 02, 2022
Current assets:
Total current assets of discontinued operations	[1]	$ 179,484	$ 120,792
Current liabilities:
Total current liabilities of discontinued operations	[1]	138,153	86,496
Discontinued Operations | C&I Solutions
Current assets:
Cash and cash equivalents		1,367	3,395
Restricted cash and cash equivalents, current portion		2,970	3,466
Accounts receivable, net		21,945	5,522
Contract assets		52,649	55,673
Inventories		32,461	28,561
Advances to suppliers, current portion		2,814	2,813
Project assets - plants and land, current portion		10,173	8,105
Prepaid expenses and other current assets		14,290	13,257
Total current assets of discontinued operations		138,669	120,792
Restricted cash and cash equivalents, net of current portion		2,439	2,439
Property, plant and equipment, net		1,615	1,734
Operating lease right-of-use assets		27,351	27,572
Other long-term assets		9,410	15,781
Total assets of discontinued operations	[2]	179,484	168,318
Current liabilities:
Accounts payable		27,345	38,541
Accrued liabilities		21,583	16,895
Operating lease liabilities, current portion		844	1,400
Contract liabilities, current portion		44,581	26,559
Short-term debt		2,778	3,101
Total current liabilities of discontinued operations		97,131	86,496
Operating lease liabilities, net of current portion		10,271	10,200
Contract liabilities, net of current portion		8,943	9,096
Other long-term liabilities		21,808	23,365
Total liabilities of discontinued operations	[2]	$ 138,153	$ 129,157
[1]	We have related-party balances for transactions made with TotalEnergies SE and its affiliates, Maxeon Solar Technologies, Ltd. (“Maxeon Solar”), and unconsolidated entities in which we have a direct equity investment. These related-party balances are recorded within the “accounts receivable, net,” “prepaid expenses and other current assets,” “accounts payable,” “accrued liabilities,” “convertible debt, current portion,” “contract liabilities, current portion,” “convertible debt, net of current portion,” “other long-term liabilities,” “current assets of discontinued operations,” “current liabilities of discontinued operations,” and “long-term liabilities of discontinued operations” financial statement line items on our condensed consolidated balance sheets (see Note 3, Note 9, Note 10, Note 11, and Note 12)
[2]	As the sale of the C&I Solutions business is probable and expected to close in the second quarter of fiscal 2022, all assets and liabilities of discontinued operations as of April 3, 2022 are presented as "current assets of discontinued operations" and "current liabilities of discontinued operations" on our condensed consolidated balance sheets.

Discontinued Operations - Opera

Discontinued Operations - Operations Income Statement (Details) - USD ($) $ in Thousands	3 Months Ended
	Apr. 03, 2022	Apr. 04, 2021
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
(Loss) earnings before income taxes	$ (26,300)	$ (1,900)
(Provision for) benefits from income taxes	343	98
Net (loss) income from discontinued operations, net of taxes	(25,705)	(1,238)
Net (income) loss from discontinued operations attributable to noncontrolling interests	250	518
Discontinued Operations | C&I Solutions
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Total revenues	28,454	66,262
Total cost of revenues	45,030	62,354
Gross (loss) profit	(16,576)	3,908
Operating expenses	8,350	5,868
Operating income (loss)	(24,926)	(1,960)
Other income (expense), net	(1,372)	106
(Loss) earnings before income taxes	(26,298)	(1,854)
(Provision for) benefits from income taxes	343	98
Net (loss) income from discontinued operations, net of taxes	(25,955)	(1,756)
Net (income) loss from discontinued operations attributable to noncontrolling interests	250	518
Net (loss) income from discontinued operations attributable to stockholders	$ (25,705)	$ (1,238)

Discontinued Operations - Non-c

Discontinued Operations - Non-cash Items and Capital Expenditures (Details) - USD ($) $ in Thousands	3 Months Ended
	Apr. 03, 2022	Apr. 04, 2021
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
(Gain) loss on sale of investments	$ 0	$ (1,162)
Discontinued Operations | C&I Solutions
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Depreciation and amortization	51	1,746
Stock-based compensation	$ 26	$ 662

Transactions With Total and T_3

Transactions With Total and Total Energies SE - Narrative (Details) - TotalEnergies - USD ($) $ / shares in Units, $ in Billions	1 Months Ended		3 Months Ended
	Dec. 31, 2011	Jun. 30, 2011	Apr. 03, 2022
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 - Affiliation Agreement (Details)	3 Months Ended
	Apr. 03, 2022	Oct. 29, 2021directormember	Apr. 19, 2021member
TotalEnergies
Related Party Transaction [Line Items]
Ownership after sale of stock, percentage	51.00%
Standstill Agreements | TotalEnergies
Related Party Transaction [Line Items]
Ownership after sale of stock, percentage	15.00%
Limitations on transfer of outstanding shares, percentage	0.40
Standstill Agreements | TotalEnergies | Sunpower Acquisition by Total
Related Party Transaction [Line Items]
Percentage of membership interests acquired in business acquisition	100.00%
April Affiliation Agreement Amendment
Related Party Transaction [Line Items]
Number of board members			11
April 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
October Affiliation Agreement Amendment
Related Party Transaction [Line Items]
Number of board members		11
Remaining number of members		9
Number of members resigned, designated by total		1
October Affiliation Agreement Amendment | Director
Related Party Transaction [Line Items]
Independent director | director		1
Additional independent directors resigned | director		1

Transactions With Total and T_5

Transactions With Total and Total Energies SE - 4.00% Debentures Due 2023 (Details)	Sep. 01, 2020$ / sharesshares	Dec. 31, 2015USD ($)$ / shares	Apr. 03, 2022USD ($)	Jan. 02, 2022USD ($)
Related Party Transaction [Line Items]
Debt face amount			$ 533,623,000	$ 535,795,000
4.00% debentures due 2023 | Convertible Debt
Related Party Transaction [Line Items]
Interest rate		4.00%
Debt face amount		$ 425,000,000	$ 424,991,000	$ 424,991,000
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 | TotalEnergies | Convertible Debt
Related Party Transaction [Line Items]
Debt face amount		$ 100,000,000

Transactions With Total and T_6

Transactions With Total and Total Energies SE - Schedule of Related Party Transactions (Details) - USD ($) $ in Thousands	Apr. 03, 2022	Jan. 02, 2022
TotalEnergies | Related-Party Transactions with Total and its Affiliates
Related Party Transaction [Line Items]
Accounts receivable	$ 489	$ 238

Transactions With Total and T_7

Transactions With Total and Total Energies SE - Revenue from Related Parties (Details) - 4.00% debentures due 2023 - USD ($) $ in Thousands	3 Months Ended
	Apr. 03, 2022	Apr. 04, 2021	Dec. 31, 2015
Convertible Debt
Related Party Transaction [Line Items]
Interest rate			4.00%
Interest expense: | TotalEnergies | Related-Party Transactions with Total and its Affiliates
Related Party Transaction [Line Items]
Interest expense	$ 1,000	$ 1,000

Revenue from Contracts with C_3

Revenue from Contracts with Customers - Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended
	Apr. 03, 2022	Apr. 04, 2021
Disaggregation of Revenue [Line Items]
Total revenues	$ 350,277	$ 240,136
Solar power systems sales
Disaggregation of Revenue [Line Items]
Total revenues	271,644	166,327
Component sales
Disaggregation of Revenue [Line Items]
Total revenues	59,877	50,732
Light commercial sales
Disaggregation of Revenue [Line Items]
Total revenues	14,196	15,718
Services and other
Disaggregation of Revenue [Line Items]
Total revenues	$ 4,560	$ 7,359

Revenue from Contracts with C_4

Revenue from Contracts with Customers - Contract Assets and Liabilities (Details) - USD ($) $ in Thousands	Apr. 03, 2022	Jan. 02, 2022
Revenue from Contract with Customer [Abstract]
Contract assets	$ 41,653	$ 31,925
Contract liabilities	$ 85,186	$ 80,990

Revenue from Contracts with C_5

Revenue from Contracts with Customers - Contract Assets and Liabilities Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Apr. 03, 2022	Apr. 04, 2021
Disaggregation of Revenue [Line Items]
Revenue recognized	$ 34.3	$ 28.5
Solar power systems and components | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-04-04
Disaggregation of Revenue [Line Items]
Revenue, remaining performance obligation, amount	$ 450.9
Modules and components | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-04-04
Disaggregation of Revenue [Line Items]
Expected timing of satisfaction, period	12 months

Revenue from Contracts with C_6

Revenue from Contracts with Customers - Performance Obligations (Details) - USD ($) $ in Millions	3 Months Ended
	Apr. 03, 2022	Apr. 04, 2021
Disaggregation of Revenue [Line Items]
Revenue recognized	$ 34.3	$ 28.5
Modules and components | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-04-04
Disaggregation of Revenue [Line Items]
Expected timing of satisfaction, period	12 months

Balance Sheet Components - Acco

Balance Sheet Components - Accounts Receivable, Net (Details) - USD ($) $ in Thousands	Apr. 03, 2022	Jan. 02, 2022
Debt Instrument [Line Items]
Accounts receivable, gross	$ 131,872	$ 135,912
Less: allowance for credit losses	(15,181)	(14,375)
Less: allowance for sales returns	(337)	(269)
Accounts receivable, net	116,354	$ 121,268
Loan And Security Agreement Lien
Debt Instrument [Line Items]
Accounts receivable, gross	$ 83,800

Balance Sheet Components - Allo

Balance Sheet Components - Allowance for Credit Losses (Details) - USD ($) $ in Thousands	3 Months Ended
	Apr. 03, 2022	Apr. 04, 2021
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Balance at beginning of period	$ 14,375	$ 13,850
Provision for credit losses	1,300	1,220
Write-offs	(494)	(826)
Balance at end of period	$ 15,181	$ 14,244

Balance Sheet Components - Inve

Balance Sheet Components - Inventories (Details) - USD ($) $ in Thousands	Apr. 03, 2022	Jan. 02, 2022
Debt Instrument [Line Items]
Photo-voltaic modules	$ 134,417	$ 130,671
Microinverters	30,926	24,040
Energy Storage Systems	42,660	26,849
Other solar power system component materials	37,609	32,872
Inventories	245,612	$ 214,432
Loan And Security Agreement Lien
Debt Instrument [Line Items]
Inventory, gross	$ 212,100

Balance Sheet Components - Prep

Balance Sheet Components - Prepaid Expenses and Other Current Assets (Details) - USD ($) $ in Thousands		Apr. 03, 2022	Jan. 02, 2022
Balance Sheet Related Disclosures [Abstract]
Deferred project costs		$ 76,069	$ 52,165
Deferred costs for solar power systems		15,839	18,834
Related-party receivables		8,483	3,684
Other		27,880	25,529
Prepaid expenses and other current assets	[1]	$ 128,271	$ 100,212
[1]	We have related-party balances for transactions made with TotalEnergies SE and its affiliates, Maxeon Solar Technologies, Ltd. (“Maxeon Solar”), and unconsolidated entities in which we have a direct equity investment. These related-party balances are recorded within the “accounts receivable, net,” “prepaid expenses and other current assets,” “accounts payable,” “accrued liabilities,” “convertible debt, current portion,” “contract liabilities, current portion,” “convertible debt, net of current portion,” “other long-term liabilities,” “current assets of discontinued operations,” “current liabilities of discontinued operations,” and “long-term liabilities of discontinued operations” financial statement line items on our condensed consolidated balance sheets (see Note 3, Note 9, Note 10, Note 11, and Note 12)

Balance Sheet Components - Prop

Balance Sheet Components - Property, Plant and Equipment, Net (Details) - USD ($) $ in Thousands	Apr. 03, 2022	Jan. 02, 2022
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 123,471	$ 111,311
Less: accumulated depreciation and impairment	(80,976)	(77,751)
Property, plant and equipment, net	42,495	33,560
Manufacturing equipment
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	3,848	3,848
Leasehold improvements
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	29,950	28,936
Solar power systems
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	7,784	6,500
Computer equipment
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	23,993	23,112
Internal-use software
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	35,471	34,083
Furniture and fixtures
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	8,906	8,582
Transportation equipment
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	2,224	2,174
Work-in-progress
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 11,295	$ 4,076

Balance Sheet Components - Othe

Balance Sheet Components - Other Long-term Assets (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Apr. 03, 2022	Jan. 02, 2022
Balance Sheet Related Disclosures [Abstract]
Equity investments with readily determinable fair value	$ 0	$ 91,473
Equity investments without readily determinable fair value	7,809	807
Equity investments with fair value option	8,528	8,374
Cloud computing arrangements implementation costs	9,654	11,692
Deposits with related parties	11,000	11,000
Retail installment contract receivables, net of current portion	63,758	0
Long-term deferred project costs	4,422	4,542
Long-term prepaid taxes	1,464	4,145
Other	22,894	24,961
Other long-term assets	129,529	156,994
Capitalized computer software, amortization	$ 500	$ 100

Balance Sheet Components - Accr

Balance Sheet Components - Accrued Liabilities (Details) - USD ($) $ in Thousands	Apr. 03, 2022	Jan. 02, 2022
Balance Sheet Related Disclosures [Abstract]
Employee compensation and employee benefits	$ 24,429	$ 15,641
Interest payable	3,579	8,005
Short-term warranty reserves	40,650	24,158
Restructuring reserve	1,500	2,137
Legal expenses	9,391	9,052
Taxes payable	5,525	4,606
Other	44,495	38,381
Accrued liabilities	$ 129,569	$ 101,980

Balance Sheet Components - Ot_2

Balance Sheet Components - Other Long-term Liabilities (Details) - USD ($) $ in Thousands		Apr. 03, 2022	Jan. 02, 2022
Balance Sheet Related Disclosures [Abstract]
Deferred revenue		$ 39,255	$ 40,321
Long-term warranty reserves		37,846	56,124
Unrecognized tax benefits		15,189	14,689
Long-term pension liability		3,802	3,758
Long-term deferred tax liabilities		1,692	15,834
Long-term taxes payable		866	866
Related-party liabilities		1,458	1,458
Other		9,187	8,147
Other long-term liabilities	[1]	$ 109,295	$ 141,197
[1]	We have related-party balances for transactions made with TotalEnergies SE and its affiliates, Maxeon Solar Technologies, Ltd. (“Maxeon Solar”), and unconsolidated entities in which we have a direct equity investment. These related-party balances are recorded within the “accounts receivable, net,” “prepaid expenses and other current assets,” “accounts payable,” “accrued liabilities,” “convertible debt, current portion,” “contract liabilities, current portion,” “convertible debt, net of current portion,” “other long-term liabilities,” “current assets of discontinued operations,” “current liabilities of discontinued operations,” and “long-term liabilities of discontinued operations” financial statement line items on our condensed consolidated balance sheets (see Note 3, Note 9, Note 10, Note 11, and Note 12)

Balance Sheet Components - Accu

Balance Sheet Components - Accumulated Other Comprehensive Income (Details) - USD ($) $ in Thousands	Apr. 03, 2022	Jan. 02, 2022
Balance Sheet Related Disclosures [Abstract]
Cumulative translation adjustment	$ 9,622	$ 9,620
Net gain on long-term pension liability obligation	1,548	1,548
Net gain on long-term derivative financial instrument	0	0
Deferred taxes	0	0
Accumulated other comprehensive income	$ 11,170	$ 11,168

Goodwill and Intangible Asset_2

Goodwill and Intangible Assets - Schedule of Other Intangible Assets (Details) - USD ($) $ in Thousands	Apr. 03, 2022	Jan. 02, 2022
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 28,000	$ 26,479
Accumulated Amortization	(3,224)	(1,600)
Net Book Value	24,776	24,879
Developed technology
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	3,700	3,700
Accumulated Amortization	(617)	(308)
Net Book Value	3,083	3,392
Brand
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	15,800	15,800
Accumulated Amortization	(1,975)	(988)
Net Book Value	13,825	14,812
Non-compete agreements
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	3,400	3,400
Accumulated Amortization	(566)	(283)
Net Book Value	2,834	3,117
Software development costs
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	5,100	3,579
Accumulated Amortization	(66)	(21)
Net Book Value	$ 5,034	$ 3,558

Goodwill and Intangible Asset_3

Goodwill and Intangible Assets - Narrative (Details) - USD ($)	3 Months Ended
	Apr. 03, 2022	Apr. 04, 2021	Oct. 04, 2021
Finite-Lived Intangible Assets [Line Items]
Amortization of intangible assets	$ 1,600,000	$ 0
Impairment loss	$ 0	$ 0
Blue Raven Solar Holdings, LLC
Finite-Lived Intangible Assets [Line Items]
Percentage of membership interests acquired in business acquisition			35.00%

Goodwill and Intangible Asset_4

Goodwill and Intangible Assets - Schedule of Future Amortization Expense (Details) $ in Thousands	Apr. 03, 2022USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
2022 (remaining 9 months)	$ 7,192
2023	8,776
2024	5,846
2025	2,962
Total	$ 24,776

Fair Value Measurements - Narra

Fair Value Measurements - Narrative (Details) - USD ($)	Aug. 09, 2018	Apr. 03, 2022	Apr. 04, 2021	Jan. 02, 2022
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Liabilities		$ 0		$ 0
Unrealized gain (loss) on investments		1,300,000	$ (44,700,000)
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Retail installment contract receivables, net of current portion		55,500,000
Accounts receivable
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Retail installment contract receivables, net of current portion		$ 65,100,000
Enphase Energy, Inc.
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment shares sold (in shares)		1,000,000
Shares remaining (in shares)		1,500,000
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
Proceeds from sale of equity investment		$ 149,800,000

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	Apr. 03, 2022	Jan. 02, 2022
Assets
Equity investments with readily determinable fair value	$ 0	$ 91,473
Total assets	317,363	465,726
Level 3
Assets
Total assets	8,528	8,374
Level 2
Assets
Total assets	0	0
Level 1
Assets
Total assets	308,835	457,352
Other long-term assets:
Assets
Equity investments with fair value option ("FVO")	8,528	8,374
Equity investments with readily determinable fair value	308,835	457,352
Other long-term assets: | Level 3
Assets
Equity investments with fair value option ("FVO")	8,528	8,374
Equity investments with readily determinable fair value	0	0
Other long-term assets: | Level 2
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
Assets
Equity investments with fair value option ("FVO")	0	0
Equity investments with readily determinable fair value	$ 308,835	$ 457,352

Fair Value Measurements - Equit

Fair Value Measurements - Equity Method Investments Activity (Details) - Equity investments with FVO $ in Thousands	3 Months Ended
	Apr. 03, 2022USD ($)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance as of January 2, 2022	$ 8,374
Equity Distribution	0
Additional Investment	154
Other adjustment	0
Ending balance as of April 3, 2022	$ 8,528

Fair Value Measurements - Level

Fair Value Measurements - Level 3 Significant Unobservable Input Sensitivity (Details) $ in Thousands	Apr. 03, 2022USD ($)	Jan. 02, 2022USD ($)
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Total assets	$ 317,363	$ 465,726
Level 3
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Total assets	8,528	$ 8,374
Equity investments | Discounted cash flows | Level 3
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Total assets	$ 8,528
Measurement Input, Default Rate | Equity investments | Valuation Technique, Residual | Level 3
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input	0.075
Measurement Input, Default Rate | Equity investments | Minimum | Discounted cash flows | Level 3
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input	0.125
Measurement Input, Default Rate | Equity investments | Maximum | Discounted cash flows | Level 3
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input	0.13

Restructuring - Narrative (Deta

Restructuring - Narrative (Details) $ in Thousands	1 Months Ended	3 Months Ended			9 Months Ended
	Apr. 30, 2021USD ($)counterpartyMember	Apr. 03, 2022USD ($)	Apr. 04, 2021USD ($)employee	Dec. 29, 2019employee	Jun. 30, 2020employee
Restructuring Cost and Reserve [Line Items]
Restructuring charges (credits)		$ 627	$ 3,766
Number of independent third parties in agreement | counterpartyMember	2
January 2021 Restructuring Plan:
Restructuring Cost and Reserve [Line Items]
Restructuring charges (credits)	$ 1,200
Restructuring incurred cost		3,600
December 2019 Restructuring Plan:
Restructuring Cost and Reserve [Line Items]
Restructuring incurred cost		$ 6,400
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 charges (credits)			$ 7,000
Severance costs			4,000
Real estate lease termination and other associated costs			3,000
Facility Closing | January 2021 Restructuring Plan: | Maximum
Restructuring Cost and Reserve [Line Items]
Restructuring charges (credits)			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
Reorganization, number of jobs affected as a percentage of global workforce				3.00%
Restructuring and related cost, exiting period				12 months
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
	Apr. 03, 2022	Apr. 04, 2021
Restructuring Cost and Reserve [Line Items]
Total restructuring charges (credits)	$ 627	$ 3,766
Cumulative To Date	79,010
January 2021 Restructuring Plan:
Restructuring Cost and Reserve [Line Items]
Total restructuring charges (credits)	38	3,684
Cumulative To Date	3,597
December 2019 Restructuring Plan:
Restructuring Cost and Reserve [Line Items]
Total restructuring charges (credits)	183	84
Cumulative To Date	6,366
Severance and benefits | January 2021 Restructuring Plan:
Restructuring Cost and Reserve [Line Items]
Total restructuring charges (credits)	37	3,671
Cumulative To Date	3,554
Severance and benefits | December 2019 Restructuring Plan:
Restructuring Cost and Reserve [Line Items]
Total restructuring charges (credits)	183	(28)
Cumulative To Date	6,207
Other costs | January 2021 Restructuring Plan:
Restructuring Cost and Reserve [Line Items]
Total restructuring charges (credits)	1	13
Cumulative To Date	43
Other costs | December 2019 Restructuring Plan:
Restructuring Cost and Reserve [Line Items]
Total restructuring charges (credits)	0	112
Cumulative To Date	159
Other restructuring
Restructuring Cost and Reserve [Line Items]
Total restructuring charges (credits)	406	$ (2)
Cumulative To Date	69,047
Severance costs	$ 400

Restructuring - Rollforward (De

Restructuring - Rollforward (Details) - USD ($) $ in Thousands	3 Months Ended
	Apr. 03, 2022	Apr. 04, 2021
Restructuring Reserve [Roll Forward]
Restructuring reserve, beginning	$ 2,137
Charges (Benefits)	627	$ 3,766
(Payments) Recoveries	(1,264)
Restructuring reserve, end	1,500
January 2021 Restructuring Plan:
Restructuring Reserve [Roll Forward]
Restructuring reserve, beginning	764
Charges (Benefits)	38	3,684
(Payments) Recoveries	(17)
Restructuring reserve, end	785
December 2019 Restructuring Plan:
Restructuring Reserve [Roll Forward]
Restructuring reserve, beginning	1,373
Charges (Benefits)	183	84
(Payments) Recoveries	(1,245)
Restructuring reserve, end	311
Severance and benefits | January 2021 Restructuring Plan:
Restructuring Reserve [Roll Forward]
Restructuring reserve, beginning	764
Charges (Benefits)	37	3,671
(Payments) Recoveries	(16)
Restructuring reserve, end	785
Severance and benefits | December 2019 Restructuring Plan:
Restructuring Reserve [Roll Forward]
Restructuring reserve, beginning	1,373
Charges (Benefits)	183	(28)
(Payments) Recoveries	(1,245)
Restructuring reserve, end	311
Other costs | January 2021 Restructuring Plan:
Restructuring Reserve [Roll Forward]
Restructuring reserve, beginning	0
Charges (Benefits)	1	13
(Payments) Recoveries	(1)
Restructuring reserve, end	0
Other costs | December 2019 Restructuring Plan:
Restructuring Reserve [Roll Forward]
Restructuring reserve, beginning	0
Charges (Benefits)	0	112
(Payments) Recoveries	0
Restructuring reserve, end	0
Other restructuring
Restructuring Reserve [Roll Forward]
Restructuring reserve, beginning	0
Charges (Benefits)	406	$ (2)
(Payments) Recoveries	(2)
Restructuring reserve, end	$ 404

Commitments and Contingencies -

Commitments and Contingencies - Facility and Equipment Leases (Details) - USD ($) $ in Thousands	3 Months Ended
	Apr. 03, 2022	Apr. 04, 2021
Commitments and Contingencies Disclosure [Abstract]
Operating lease expense	$ 3,215	$ 3,471
Sublease income	(87)	(106)
Rent expense	3,128	3,365
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows for operating leases	3,740	3,919
Right-of-use assets obtained in exchange for leases	$ 877	$ 11,528
Weighted-average remaining lease term (in years) - operating leases	3 years 4 months 24 days	5 years 10 months 24 days
Weighted-average discount rate - operating leases	8.40%	8.90%

Commitments and Contingencies_2

Commitments and Contingencies - Future Maturities (Details) $ in Thousands	Apr. 03, 2022USD ($)
Operating Leases
2022 (remaining nine months)	$ 10,943
2023	12,864
2024	9,024
2025	5,249
2026	4,048
Thereafter	2,018
Total lease payments	44,146
Less: imputed interest	(6,491)
Total	$ 37,655

Commitments and Contingencies_3

Commitments and Contingencies - Purchase Commitment (Details) $ in Thousands	Apr. 03, 2022USD ($)
Future purchase obligations
Fiscal 2022 (remaining nine months)	$ 197,304
Fiscal 2023	200,711
Fiscal 2024	1,710
Fiscal 2025	775
Fiscal 2026	778
Thereafter	4,529
Total	$ 405,807

Commitments and Contingencies_4

Commitments and Contingencies - Purchase Commitment - Narrative (Details)	Apr. 03, 2022vendor
Commitments and Contingencies Disclosure [Abstract]
Purchase commitments, number of vendors	1

Commitments and Contingencies_5

Commitments and Contingencies - Product Warranties (Details) - USD ($) $ in Thousands	3 Months Ended
	Apr. 03, 2022	Apr. 04, 2021
Movement in Standard and Extended Product Warranty Accrual, Increase (Decrease) [Roll Forward]
Balance at the beginning of the period	$ 80,282	$ 62,801
Accruals for warranties issued during the period	256	9,206
Settlements and adjustments during the period	(2,042)	(7,323)
Balance at the end of the period	$ 78,496	$ 64,684

Commitments and Contingencies_6

Commitments and Contingencies - Product Warranties - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Apr. 03, 2022	Jan. 02, 2022
Commitments and Contingencies Disclosure [Abstract]
Product warranty expense	$ 1	$ 26.5

Commitments and Contingencies_7

Commitments and Contingencies - Indemnifications - Narrative (Details) - USD ($) $ in Millions	Apr. 03, 2022	Jan. 02, 2022
Commitments and Contingencies Disclosure [Abstract]
Unrecognized tax benefits	$ 15.2	$ 14.7
Income tax contingencies	10.3	$ 9.6
Contractual obligation, to be paid, remainder of fiscal 2022	92.3
Contract liabilities gross of prepayment	36.1
Estimated litigation liability	$ 4.4

Equity Investments - Equity Met

Equity Investments - Equity Method Investments (Details) - USD ($) $ in Thousands	3 Months Ended
	Apr. 03, 2022	Mar. 31, 2022	Jan. 02, 2022
Schedule of Equity Method Investments [Line Items]
Equity investments with readily determinable fair value	$ 0		$ 91,473
Equity investments without readily determinable fair value:	7,809		807
Equity investments with fair value option	8,528		8,374
Total equity investments	325,172		466,533
Ownership percentage		50.00%
Enphase Energy, Inc.
Schedule of Equity Method Investments [Line Items]
Equity investments with readily determinable fair value	$ 308,835		457,352
Investment shares sold (in shares)	1,000,000
Shares remaining (in shares)	1,500,000
OhmConnect investment
Schedule of Equity Method Investments [Line Items]
Equity investments without readily determinable fair value:	$ 5,000		0
Total equity investments	$ 5,000
Ownership percentage	1.80%
Sea Bright investment
Schedule of Equity Method Investments [Line Items]
Equity investments without readily determinable fair value:	$ 2,000		0
Total equity investments	$ 2,000
Ownership percentage	20.00%
Other equity investments without readily determinable fair value
Schedule of Equity Method Investments [Line Items]
Equity investments without readily determinable fair value:	$ 809		807
SunStrong Capital Holdings, LLC
Schedule of Equity Method Investments [Line Items]
Equity investments with fair value option	8,374		8,374
Dorado Development Partners, LLC
Schedule of Equity Method Investments [Line Items]
Equity investments with fair value option	154		0
SunStrong Partners, LLC
Schedule of Equity Method Investments [Line Items]
Equity investments with fair value option	0		0
Total equity investment with fair value option
Schedule of Equity Method Investments [Line Items]
Equity investments with fair value option	$ 8,528		$ 8,374

Equity Investments - Unconsolid

Equity Investments - Unconsolidated VIEs (Details) - USD ($) $ in Thousands	3 Months Ended
	Apr. 03, 2022	Mar. 31, 2022	Jan. 02, 2022
Schedule of Equity Method Investments [Line Items]
Equity method investments	$ 325,172		$ 466,533
Ownership percentage		50.00%
Equity Method Investment, Nonconsolidated Investee or Group of Investees
Schedule of Equity Method Investments [Line Items]
Equity in losses of unconsolidated investees	$ 200
Dorado DevCo | Variable Interest Entity, Not Primary Beneficiary
Schedule of Equity Method Investments [Line Items]
Equity method investments		$ 7,900

Equity Investments - Summarized

Equity Investments - Summarized Financial Information of Unconsolidated VIEs (Details) - USD ($) $ in Thousands	3 Months Ended
	Apr. 03, 2022	Apr. 04, 2021	Jan. 02, 2022
Schedule of Investments [Line Items]
Gross (loss) income	$ 72,309	$ 45,966
Net income (loss)	(27,871)	(48,385)
Current assets	1,159,893		$ 1,073,466
Current liabilities	1,056,207		509,596
SunStrong Capital Holdings, LLC | Variable Interest Entity, Not Primary Beneficiary
Schedule of Investments [Line Items]
Revenues	36,156	33,097
Gross (loss) income	(974)	1,214
Net income (loss)	1,753	$ (45,789)
Current assets	88,086		93,722
Long-term assets	1,658,386		1,626,125
Current liabilities	62,029		65,872
Long-term liabilities	$ 1,317,835		$ 1,295,540

Equity Investments - Related Pa

Equity Investments - Related Party Transactions with Investees (Details) - SunStrong and SunStrong Partners - Transactions with Investees - USD ($) $ in Thousands	3 Months Ended
	Apr. 03, 2022	Apr. 04, 2021	Jan. 02, 2022
Schedule of Equity Method Investments [Line Items]
Accounts receivable	$ 25,982		$ 28,900
Accrued liabilities	53		53
Contract liabilities	29,426		$ 17,442
Revenues and fees received from investees for products/services	$ 45,520	$ 49,647

Equity Investments - Consolidat

Equity Investments - Consolidated VIEs (Details) - USD ($) $ in Thousands	3 Months Ended
	Apr. 03, 2022	Apr. 04, 2021	Mar. 31, 2022	Jan. 02, 2022
Variable Interest Entity [Line Items]
Assets	$ 1,570,775			$ 1,554,806
Ownership percentage			50.00%
Solar Sail | Variable Interest Entity, Primary Beneficiary
Variable Interest Entity [Line Items]
Revenues	4,300	$ 3,600
Assets	$ 66,300

Debt and Credit Sources - Sched

Debt and Credit Sources - Schedule of Debt (Details) - USD ($)	Apr. 03, 2022	Jan. 02, 2022	Dec. 31, 2015
Debt Instrument [Line Items]
Face Value	$ 533,623,000	$ 535,795,000
Short-term	531,850,000	109,568,000
Long-term	338,000	424,057,000
Total	532,188,000	533,625,000
Total recourse debt
Debt Instrument [Line Items]
Face Value	532,747,000	534,320,000
Short-term	531,312,000	108,473,000
Long-term	0	423,677,000
Total	531,312,000	532,150,000
Total non-recourse debt
Debt Instrument [Line Items]
Face Value	876,000	1,475,000
Short-term	538,000	1,095,000
Long-term	338,000	380,000
Total	876,000	1,475,000
Asset-Backed Loan | Total recourse debt
Debt Instrument [Line Items]
Face Value	60,132,000	60,800,000
Short-term	60,019,000	60,579,000
Long-term	0	0
Total	60,019,000	60,579,000
Safe Harbor Loan | Total recourse debt
Debt Instrument [Line Items]
Face Value	47,624,000	48,529,000
Short-term	47,306,000	47,894,000
Long-term	0	0
Total	47,306,000	47,894,000
Vendor Financing and Other Debt | Total non-recourse debt
Debt Instrument [Line Items]
Face Value	876,000	1,475,000
Short-term	538,000	1,095,000
Long-term	338,000	380,000
Total	876,000	1,475,000
Convertible Debt | 4.00% debentures due 2023
Debt Instrument [Line Items]
Interest rate			4.00%
Face Value	424,991,000	424,991,000	$ 425,000,000
Convertible Debt | 4.00% debentures due 2023 | Total recourse debt
Debt Instrument [Line Items]
Face Value	424,991,000	424,991,000
Short-term	423,987,000	0
Long-term	0	423,677,000
Total	$ 423,987,000	$ 423,677,000

Debt and Credit Sources - Sch_2

Debt and Credit Sources - Schedule of Maturities (Details) - USD ($) $ in Thousands	Apr. 03, 2022	Jan. 02, 2022
Aggregate future maturities of outstanding debt
Fiscal 2022 (remaining nine months)	$ 108,247
Fiscal 2023	425,057
Fiscal 2024	69
Fiscal 2025	73
Fiscal 2026	76
Thereafter	101
Total	$ 533,623	$ 535,795

Debt and Credit Sources - Sch_3

Debt and Credit Sources - Schedule of Convertible Debt (Details) - USD ($)	Apr. 03, 2022	Jan. 02, 2022	Dec. 31, 2015
Debt Instrument [Line Items]
Face Value	$ 533,623,000	$ 535,795,000
Convertible Debt | 4.00% debentures due 2023
Debt Instrument [Line Items]
Interest rate			4.00%
Carrying Value	423,987,000	423,677,000
Face Value	424,991,000	424,991,000	$ 425,000,000
Fair Value	$ 496,205,000	$ 501,489,000

Debt and Credit Sources - Deuts

Debt and Credit Sources - Deutsche Bank Trust (Details) - Letter of Credit - September 2011 Letter of Credit - Deutsche Bank - USD ($)	Apr. 03, 2022	Jan. 02, 2022	Sep. 30, 2011
Debt Instrument [Line Items]
Maximum borrowing capacity			$ 200,000,000
Letters of credit outstanding, amount	$ 200,000	$ 2,200,000

Debt and Credit Sources - Bank

Debt and Credit Sources - Bank of the West (Details) - Letter of Credit - October 2021 Letter of Credit - Bank of the West - USD ($)	Apr. 03, 2022	Jan. 02, 2022	Oct. 31, 2021
Debt Instrument [Line Items]
Maximum borrowing capacity			$ 25,000,000
Cash collateral for borrowed securities			50.00%
Letters of credit outstanding, amount	$ 21,600,000	$ 19,300,000

Related-Party Transactions (Det

Related-Party Transactions (Details) - USD ($) $ in Thousands		3 Months Ended
		Apr. 03, 2022	Apr. 04, 2021	Jan. 02, 2022
Related Party Transaction [Line Items]
Prepaid and other current assets		$ 8,483		$ 3,684
Other long-term liabilities	[1]	109,295		141,197
Maxeon Solar | Corporate Joint Venture
Related Party Transaction [Line Items]
Purchases of photo-voltaic modules (recorded in cost of revenues)		72,459	$ 58,154
Research and development expenses reimbursement received		9,474	9,373
Income (expense) from transition services agreement, net		(266)	$ 3,087
Prepaid and other current assets		995		1,928
Accrued liabilities		8,567		7,493
Accounts payable		30,834		27,724
Other long-term liabilities		$ 1,458		$ 1,458
[1]	We have related-party balances for transactions made with TotalEnergies SE and its affiliates, Maxeon Solar Technologies, Ltd. (“Maxeon Solar”), and unconsolidated entities in which we have a direct equity investment. These related-party balances are recorded within the “accounts receivable, net,” “prepaid expenses and other current assets,” “accounts payable,” “accrued liabilities,” “convertible debt, current portion,” “contract liabilities, current portion,” “convertible debt, net of current portion,” “other long-term liabilities,” “current assets of discontinued operations,” “current liabilities of discontinued operations,” and “long-term liabilities of discontinued operations” financial statement line items on our condensed consolidated balance sheets (see Note 3, Note 9, Note 10, Note 11, and Note 12)

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended
	Apr. 03, 2022	Apr. 04, 2021	Jan. 02, 2022
Income Tax Disclosure [Abstract]
Income tax benefit from continuing operation	$ 11,643	$ 5,126
Loss from continuing operations before income taxes	14,148	52,868
Income tax benefit from discontinued operation	343	98
Loss from discontinued operations before income taxes	26,300	$ 1,900
Unrecognized tax benefits	15,200		$ 14,700
Valuation allowance, deferred tax asset, increase	$ 500

Net Income (Loss) Per Share - C

Net Income (Loss) Per Share - Calculation of Basic and Diluted Net Income (Loss) per share Attributable (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Apr. 03, 2022	Apr. 04, 2021
Numerator:
Net (loss) income attributable to stockholders - continuing operations	$ (2,166)	$ (47,147)
Net (loss) income attributable to stockholders - discontinued operations	(25,705)	(1,238)
Net (loss) income attributable to stockholders	$ (27,871)	$ (48,385)
Denominator:
Basic weighted-average common shares (in shares)	173,376,000	171,200,000
Dilutive weighted-average common shares (in shares)	173,376,000	171,200,000
Basic net (loss) income per share - continuing operations (in dollars per share)	$ (0.01)	$ (0.28)
Dilutive net (loss) income per share - continuing operations (in dollars per share)	(0.01)	(0.28)
Basic net loss per share - discontinued operations (in dollars per share)	(0.15)	(0.01)
Dilutive net loss per share - discontinued operations (in dollars per share)	(0.15)	(0.01)
Basic net (loss) income per share (in dollars per share)	(0.16)	(0.29)
Dilutive net (loss) income per share (in dollars per share)	$ (0.16)	$ (0.29)
Convertible Debt
Denominator:
Interest expense of effect of dilutive securities	0	0

Net Income (Loss) Per Share - A

Net Income (Loss) Per Share - Anti-dilutive Securities (Details) - shares shares in Thousands	3 Months Ended
	Apr. 03, 2022	Apr. 04, 2021
Restricted stock units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share, amount (in shares)	3,035	876
0.875% debentures due 2021
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Interest rate	0.875%
Antidilutive securities excluded from computation of earnings per share, amount (in shares)	0	1,575
4.00% debentures due 2023
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Interest rate	4.00%
Antidilutive securities excluded from computation of earnings per share, amount (in shares)	17,068	17,068

Stock-Based Compensation (Detai

Stock-Based Compensation (Details) - USD ($) $ in Thousands	3 Months Ended
	Apr. 03, 2022	Apr. 04, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	$ 5,401	$ 4,351
Cost of revenues
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	955	584
Research and development
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	569	358
Sales, general, and administrative
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	$ 3,877	$ 3,409