Sunpower (SPWRQ) 10-Q/A 18 Dec 23 2023 Q2 Quarterly report (amended) Financial data

Cover Page

Cover Page - shares	6 Months Ended
	Jul. 02, 2023	Jul. 28, 2023
Entity Addresses [Line Items]
Document Type	10-Q/A
Document Quarterly Report	true
Document Period End Date	Jul. 02, 2023
Document Transition Report	false
Entity File Number	001-34166
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	94-3008969
Entity Address, Address Line One	880 Harbour Way South
Entity Address, Address Line Two	Suite 600
Entity Address, City or Town	Richmond
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	94804
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)		175,191,707
Amendment Flag	true
Entity Registrant Name	SUNPOWER CORP
Entity Central Index Key	0000867773
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q2
Amendment Description	In particular, the unaudited condensed consolidated financial statements as of and for the first and second quarters of fiscal year 2023 and 2022 have been restated to reflect the corrections related to the value of consignment inventory of microinverter (“MI”) components at certain third-party locations as further described below, along with other immaterial items as of and for the first and second quarters of fiscal year 2023 and 2022.
Former Address
Entity Addresses [Line Items]
Entity Address, Address Line One	1414 Harbour Way South
Entity Address, Address Line Two	Suite 1901
Entity Address, City or Town	Richmond
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	94804

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands		Jul. 02, 2023	Apr. 02, 2023	Jan. 01, 2023	Jul. 03, 2022	Apr. 03, 2022	Jan. 02, 2022
Current assets:
Cash and cash equivalents		$ 114,104		$ 377,026	$ 206,355
Restricted cash and cash equivalents, current portion		2,075		10,668	1,798
Short-term investments		0		132,480
Accounts receivable, net	[1]	220,196		169,674
Contract assets		49,357		57,070
Loan receivables held for sale, net		11,947		0
Inventories		402,375		295,731
Advances to suppliers, current portion		4,645		12,059
Prepaid expenses and other current assets	[1]	228,874		197,811
Total current assets		1,033,573		1,252,519
Restricted cash and cash equivalents, net of current portion		19,679		18,812	24,776
Property, plant and equipment, net		95,785		76,473
Operating lease right-of-use assets		35,219		36,926
Solar power systems leased, net		39,767		41,779
Goodwill		125,998		125,998
Other intangible assets, net		20,682		24,192
Other long-term assets	[1]	185,999		186,927
Total assets		1,556,702		1,763,626
Current liabilities:
Accounts payable	[1]	227,386		243,139
Accrued liabilities	[1]	133,530		148,119
Operating lease liabilities, current portion		11,501		11,356
Contract liabilities, current portion	[1]	223,846		141,863
Short-term debt		48,054		82,240
Convertible debt, current portion	[1]	0		424,919
Total current liabilities		644,317		1,051,636
Long-term		305,709		308
Operating lease liabilities, net of current portion		26,873		29,347
Contract liabilities, net of current portion		11,057		11,588
Other long-term liabilities		112,771		114,702
Long-term liabilities of discontinued operations		0		0
Total liabilities		1,100,727		1,207,581
Commitments and contingencies (Note 9)
Equity:
Preferred stock, $0.001 par value; 10,000 shares authorized; none issued and outstanding as of July 2, 2023 and January 1, 2023		0		0
Common stock, $0.001 par value, 367,500 shares authorized; 189,644 shares issued and 175,173 shares outstanding as of July 2, 2023; 188,287 shares issued and 174,269 shares outstanding as of January 1, 2023		175		174
Additional paid-in capital		2,847,884		2,855,930
Accumulated deficit		(2,171,628)		(2,085,784)
Accumulated other comprehensive income		11,586		11,568
Treasury stock, at cost: 14,471 shares of common stock as of July 2, 2023; 14,018 shares of common stock as of January 1, 2023		(232,940)		(226,646)
Total stockholders' equity		455,077		555,242
Noncontrolling interests in subsidiaries		898		803
Total equity		455,975	$ 479,728	556,045	$ 407,463	$ 348,213	$ 383,603
Total liabilities and equity		$ 1,556,702		$ 1,763,626
[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,” “other long-term assets,” “accounts payable,” “accrued liabilities,” “convertible debt, current portion,” “contract liabilities, current portion,” and “other long-term liabilities” financial statement line items on our condensed consolidated balance sheets (see Note 3, Note 9, Note 10, and Note 12)

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) (Unaudited) - $ / shares shares in Thousands	Jul. 02, 2023	Jan. 01, 2023
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	10,000
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	367,500
Common stock shares issued (in shares)	189,644	188,287
Common stock shares outstanding (in shares)	175,173	174,269
Common stock shares held as treasury stock (in shares)	14,471	14,018

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands		3 Months Ended		6 Months Ended
		Jul. 02, 2023	Jul. 03, 2022	Jul. 02, 2023	Jul. 03, 2022
Income Statement [Abstract]
Total revenues	[1]	$ 463,360	$ 417,464	$ 897,627	$ 767,582
Total cost of revenues1		389,431	326,737	742,660	595,010
Gross profit		73,929	90,727	154,967	172,572
Operating expenses:
Research and development	[1]	6,508	7,182	13,755	12,353
Sales, general, and administrative	[1]	90,498	105,360	194,816	193,227
Restructuring charges (credits)		0	(494)	0	133
Expense (income) from transition services agreement, net	[1]	84	(494)	(140)	(228)
Total operating expenses		97,090	111,554	208,431	205,485
Operating (loss) income		(23,161)	(20,827)	(53,464)	(32,913)
Other (expense) income, net:
Interest income		329	92	1,160	134
Interest expense	[1]	(5,786)	(6,460)	(11,464)	(11,511)
Other, net		289	(14,652)	(10,694)	(13,208)
Other (expense) income, net		(5,168)	(21,020)	(20,998)	(24,585)
(Loss) income from continuing operations before income taxes and equity in earnings (losses) of unconsolidated investees		(28,329)	(41,847)	(74,462)	(57,498)
(Provision for) benefits from income taxes		(378)	793	(1,706)	8,922
Equity in earnings (losses) of unconsolidated investees		232	0	420	0
Net (loss) income from continuing operations		(28,475)	(41,054)	(75,748)	(48,576)
(Loss) income from discontinued operations before income taxes and equity in (losses) earnings of unconsolidated investees	[1]	(2,796)	(21,560)	(10,156)	(47,858)
Benefits from (provision for) income taxes from discontinued operations		77	107	155	440
Net (loss) income from discontinued operations		(2,719)	(21,453)	(10,001)	(47,418)
Net (loss) income		(31,194)	(62,507)	(85,749)	(95,994)
Net (income) loss from continuing operations attributable to noncontrolling interests		(14)	(785)	(95)	(446)
Net loss (income) from discontinued operations attributable to noncontrolling interests		0	0	0	250
Net (income) loss attributable to noncontrolling interests		(14)	(785)	(95)	(196)
Net (loss) income from continuing operations attributable to stockholders		(28,489)	(41,839)	(75,843)	(49,022)
Net (loss) income from discontinued operations attributable to stockholders		(2,719)	(21,453)	(10,001)	(47,168)
Net (loss) income attributable to stockholders		$ (31,208)	$ (63,292)	$ (85,844)	$ (96,190)
Net (loss) income per share attributable to stockholders - basic and diluted:
Continuing operations - basic (in dollars per share)		$ (0.16)	$ (0.24)	$ (0.43)	$ (0.28)
Continuing operations - diluted (in dollars per share)		(0.16)	(0.24)	(0.43)	(0.28)
Discontinued operations - basic (in dollars per share)		(0.02)	(0.12)	(0.06)	(0.27)
Discontinued operations - diluted (in dollars per share)		(0.02)	(0.12)	(0.06)	(0.27)
Net income (loss) per share – basic (in dollars per share)		(0.18)	(0.36)	(0.49)	(0.55)
Net income (loss) per share – diluted (in dollars per share)		$ (0.18)	$ (0.36)	$ (0.49)	$ (0.55)
Weighted-average shares:
Basic (in shares)		175,042	173,951	174,785	173,664
Diluted (in shares)		175,042	173,951	174,785	173,664
[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 “total revenues,” “total cost of revenues,” “operating expenses: research and development,” “operating expenses: sales, general, and administrative,” “operating expenses: (income) expense from 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).

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive (Loss) Income - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 02, 2023	Jul. 03, 2022	Jul. 02, 2023	Jul. 03, 2022
Statement of Comprehensive Income [Abstract]
Net (loss) income	$ (31,194)	$ (62,507)	$ (85,749)	$ (95,994)
Components of other comprehensive income (loss):
Translation adjustment	13	(31)	18	(29)
Total other comprehensive income (loss)	13	(31)	18	(29)
Total comprehensive (loss) income	(31,181)	(62,538)	(85,731)	(96,023)
Comprehensive (income) loss attributable to noncontrolling interests	(14)	(785)	(95)	(196)
Comprehensive (loss) income attributable to stockholders	$ (31,195)	$ (63,323)	$ (85,826)	$ (96,219)

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Equity - USD ($) shares in Thousands, $ in Thousands	Total	Previously Reported	Restatement Adjustment	Total Stockholders’ Equity	Total Stockholders’ Equity Previously Reported	Total Stockholders’ Equity Restatement Adjustment	Common Stock	Common Stock Previously Reported	Additional Paid-in Capital	Additional Paid-in Capital Previously Reported	Treasury Stock	Treasury Stock Previously Reported	Accumulated Other Comprehensive Income (Loss)	Accumulated Other Comprehensive Income (Loss) Previously Reported	Accumulated Deficit	Accumulated Deficit Previously Reported	Accumulated Deficit Restatement Adjustment	Noncontrolling Interests in Subsidiaries	Noncontrolling Interests in Subsidiaries Previously Reported
Stockholders' equity, beginning of period (in shares) at Jan. 02, 2022							173,051
Stockholders' equity, beginning of period at Jan. 02, 2022	$ 383,603	$ 390,024	$ (6,421)	$ 381,968	$ 388,389	$ (6,421)	$ 173	$ 173	$ 2,714,500	$ 2,714,500	$ (215,240)	$ (215,240)	$ 11,168	$ 11,168	$ (2,128,633)	$ (2,122,212)	$ (6,421)	$ 1,635	$ 1,635
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net (loss) income	(33,487)			(32,898)											(32,898)			(589)
Other comprehensive income	2			2									2
Issuance of restricted stock to employees, net of cancellations (in shares)							1,201
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)
Purchases of treasury stock	(7,333)			(7,333)							(7,333)
Stockholders' equity, end of period (in shares) at Apr. 03, 2022							173,845
Stockholders' equity, end of period at Apr. 03, 2022	348,213			347,167			$ 174		2,719,927		(222,573)		11,170		(2,161,531)			1,046
Stockholders' equity, beginning of period (in shares) at Jan. 02, 2022							173,051
Stockholders' equity, beginning of period at Jan. 02, 2022	383,603	390,024	(6,421)	381,968	388,389	(6,421)	$ 173	173	2,714,500	2,714,500	(215,240)	(215,240)	11,168	11,168	(2,128,633)	(2,122,212)	(6,421)	1,635	1,635
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Other comprehensive income	(29)
Stockholders' equity, end of period (in shares) at Jul. 03, 2022							174,081
Stockholders' equity, end of period at Jul. 03, 2022	407,463			401,689			$ 174		2,840,028		(224,829)		11,139		(2,224,823)			5,774
Stockholders' equity, beginning of period (in shares) at Apr. 03, 2022							173,845
Stockholders' equity, beginning of period at Apr. 03, 2022	348,213			347,167			$ 174		2,719,927		(222,573)		11,170		(2,161,531)			1,046
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net (loss) income	(62,507)			(63,292)											(63,292)			785
Other comprehensive income	(31)			(31)									(31)
Issuance of restricted stock to employees, net of cancellations (in shares)							359
Stock-based compensation expense	7,071			7,071					7,071
Purchases of treasury stock (in shares)							(123)
Purchases of treasury stock	(2,256)			(2,256)							(2,256)
Gain on sale of C&I Solutions business, net of tax	116,973			113,030					113,030									3,943
Stockholders' equity, end of period (in shares) at Jul. 03, 2022							174,081
Stockholders' equity, end of period at Jul. 03, 2022	$ 407,463			401,689			$ 174		2,840,028		(224,829)		11,139		(2,224,823)			5,774
Stockholders' equity, beginning of period (in shares) at Jan. 01, 2023	174,269						174,269
Stockholders' equity, beginning of period at Jan. 01, 2023	$ 556,045	575,654	(19,609)	555,242	574,851	(19,609)	$ 174	174	2,855,930	2,855,930	(226,646)	(226,646)	11,568	11,568	(2,085,784)	(2,066,175)	(19,609)	803	803
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net (loss) income	(54,555)			(54,636)											(54,636)			81
Other comprehensive income	5			5									5
Issuance of restricted stock to employees, net of cancellations (in shares)							959
Issuance of restricted stock to employees, net of cancellations	1			1			$ 1
Stock-based compensation expense	6,877			6,877					6,877
Purchases of treasury stock (in shares)							(327)
Purchases of treasury stock	(5,071)			(5,071)							(5,071)
Net working capital settlement related to the sale of our C&I Solutions business, net of taxes of $0.3 million	(23,574)			(23,574)					(23,574)
Stockholders' equity, end of period (in shares) at Apr. 02, 2023							174,901
Stockholders' equity, end of period at Apr. 02, 2023	$ 479,728			478,844			$ 175		2,839,233		(231,717)		11,573		(2,140,420)			884
Stockholders' equity, beginning of period (in shares) at Jan. 01, 2023	174,269						174,269
Stockholders' equity, beginning of period at Jan. 01, 2023	$ 556,045	575,654	(19,609)	555,242	$ 574,851	$ (19,609)	$ 174	$ 174	2,855,930	$ 2,855,930	(226,646)	$ (226,646)	11,568	$ 11,568	(2,085,784)	$ (2,066,175)	$ (19,609)	803	$ 803
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Other comprehensive income	$ 18
Stockholders' equity, end of period (in shares) at Jul. 02, 2023	175,173						175,173
Stockholders' equity, end of period at Jul. 02, 2023	$ 455,975	477,676	(21,701)	455,077			$ 175		2,847,884		(232,940)		11,586		(2,171,628)			898
Stockholders' equity, beginning of period (in shares) at Apr. 02, 2023							174,901
Stockholders' equity, beginning of period at Apr. 02, 2023	479,728			478,844			$ 175		2,839,233		(231,717)		11,573		(2,140,420)			884
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net (loss) income	(31,194)			(31,208)											(31,208)			14
Other comprehensive income	13			13									13
Issuance of restricted stock to employees, net of cancellations (in shares)							399
Stock-based compensation expense	8,659			8,659					8,659
Purchases of treasury stock (in shares)							(127)
Purchases of treasury stock	(1,223)			(1,223)							(1,223)
Other adjustments	$ (8)			(8)					(8)
Stockholders' equity, end of period (in shares) at Jul. 02, 2023	175,173						175,173
Stockholders' equity, end of period at Jul. 02, 2023	$ 455,975	$ 477,676	$ (21,701)	$ 455,077			$ 175		$ 2,847,884		$ (232,940)		$ 11,586		$ (2,171,628)			$ 898

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Equity (Parenthetical) $ in Thousands	3 Months Ended
	Apr. 02, 2023 USD ($)
C&I Solutions
Income tax expense from discontinued operations	$ 300

Condensed Consolidated Statem_5

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jul. 02, 2023	Jul. 03, 2022
Cash flows from operating activities:
Net (loss) income	$ (85,749)	$ (95,994)
Adjustments to reconcile net (loss) income to net cash used in operating activities:
Depreciation and amortization	23,212	15,523
Amortization of cloud computing arrangements	2,812	1,992
Stock-based compensation	15,536	12,499
Amortization of debt issuance costs	1,163	1,559
Equity in (earnings) losses of unconsolidated investees	(420)	0
(Gain) loss on equity investments	10,805	13,940
Unrealized (gain) loss on derivatives	(294)	504
Dividend from equity method investees	596	0
Loss (gain) on loan receivables held for sale	25	0
Deferred income taxes	(532)	(11,185)
Other, net	575	949
Changes in operating assets and liabilities:
Accounts receivable	(51,101)	(37,739)
Contract assets	7,713	6,053
Inventories	(106,644)	(8,860)
Project assets	0	295
Loan receivables held for sale	(11,972)	0
Prepaid expenses and other assets	(19,504)	(166,415)
Operating lease right-of-use assets	5,516	5,619
Advances to suppliers	7,414	(2,072)
Accounts payable and other accrued liabilities	(32,639)	42,900
Contract liabilities	81,452	66,319
Operating lease liabilities	(6,134)	(7,878)
Net cash (used in) provided by operating activities	(158,170)	(161,991)
Cash flows from investing activities:
Purchases of property, plant, and equipment	(26,283)	(23,997)
Investments in software development costs	(2,320)	(2,725)
Cash paid for working capital settlement related to C&I Solutions sale	(30,892)	0
Cash received from C&I Solutions sale, net of de-consolidated cash	0	146,303
Cash paid for equity investments under the Dealer Accelerator Program and other	(7,500)	(16,420)
Proceeds from sale of equity investment	121,675	149,830
Cash paid for investments in unconsolidated investees	(7,677)	(3,318)
Dividend from equity method investee, in excess of cumulative earnings	149	0
Net cash provided by (used in) investing activities	47,152	249,673
Cash flows from financing activities:
Proceeds from bank loans and other debt	439,101	100,276
Repayment of bank loans and other debt	(165,641)	(97,891)
Repayment of convertible debt	(424,991)	0
Payments for financing leases	(1,806)	(149)
Purchases of stock for tax withholding obligations on vested restricted stock	(6,293)	(9,588)
Net cash (used in) provided by financing activities	(159,630)	(7,352)
Net (decrease) increase in cash, cash equivalents, and restricted cash	(270,648)	80,330
Cash, cash equivalents, and restricted cash, beginning of period	406,506	152,599
Cash, cash equivalents, and restricted cash, end of period	135,858	232,929
Reconciliation of cash, cash equivalents, and restricted cash to the condensed consolidated balance sheets:
Cash and cash equivalents	114,104	206,355
Restricted cash and cash equivalents, current portion	2,075	1,798
Restricted cash and cash equivalents, net of current portion	19,679	24,776
Total cash, cash equivalents, and restricted cash	135,858	232,929
Supplemental disclosure of non-cash activities:
Property, plant and equipment acquisitions funded by liabilities (including financing leases)	8,717	4,587
Right-of-use assets obtained in exchange for lease obligations	3,809	509
Net working capital settlement related to C&I Solutions sale	0	6,265
Supplemental cash flow disclosures:
Cash paid for interest	18,004	11,186
Cash paid for income taxes	$ 1,236	$ 2,500

Organization and Summary of Sig

Organization and Summary of Significant Accounting Policies	6 Months Ended
	Jul. 02, 2023
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 residential solar technology and energy services provider that offers fully integrated solar, storage, and home energy solutions to customers in North America. Through a multi-channel strategy of distributed dealer network, SunPower direct sales channel, and new home builder partnerships, we provide customers control over electricity consumption, resiliency during power outages, and cost savings, while also reducing carbon emissions and contributing to a more sustainable grid. SunPower was a majority-owned subsidiary of TotalEnergies Solar INTL SAS (“Total,” formerly Total Solar International SAS) and TotalEnergies Gaz & Electricité Holdings France SAS (“Total Gaz,” formerly Total Gaz Electricité Holdings France SAS), each a subsidiary of TotalEnergies SE (“TotalEnergies SE,” formerly Total SE). On September 12, 2022, Total and Total Gaz sold to GIP III Sol Acquisition, LLC (“GIP Sol”) 50% less one unit of the equity interests in a newly formed Delaware limited liability company, Sol Holding, LLC (“HoldCo”), which is now the record holder of all of the shares of SunPower common stock (see Note 3. Transactions with Total and TotalEnergies SE ). Liquidity and Going Concern The accompanying condensed consolidated financial statements have been prepared on a going concern basis, which assumes the Company will be able to continue as a going concern and contemplates the realization of assets and satisfaction of liabilities in the normal course of business. Subsequent to the filing of our Original Form 10-Q, as of October 1, 2023, we breached a financial covenant and a reporting covenant of our Credit Agreement, dated as of September 12, 2022 (as amended, the “Credit Agreement”) (see Note 11. Debt and Credit Sources ). The breaches created events of default thereunder (the “Existing Defaults”), which enables the requisite lenders under the Credit Agreement to demand immediate payment of $246.3 million borrowings outstanding as of October 1, 2023, or exercise other remedies. As a result of the events of default, we no longer had the ability to borrow from the remaining capacity of $53.7 million of revolving commitments. On December 8, 2023 (the “Amendment Effective Date”), the Company obtained a waiver and amendment to the Credit Agreement (the “Amendment and Waiver”) as amended by the First Amendment to Credit Agreement, dated as of January 26, 2023 (together and as amended, the “Amended Credit Agreement”) by and among the Company, certain of its subsidiaries as guarantors, Bank of America, N.A. (“Bank of America”), BMO Bank, N.A., Citibank, N.A. and JPMorgan Chase Bank, N.A. as the lenders and L/C issuers party thereto (together, the “Existing Lenders”), and Bank of America, as administrative agent which provides for, among other things, a temporary waiver until January 19, 2024 of the breaches, and modification to the remaining available commitments through (i) the Existing Lenders to provide access to $25 million of existing revolving commitments and (ii) commitments by HoldCo, as a new lender, to provide an additional $25 million of capacity. Subsequent to the amendment, we borrowed the entire $50 million against the remaining capacity on the revolving credit facility. Although we entered into the Amendment and Waiver to temporarily address the Existing Defaults, we are also projecting to be noncompliant with certain debt covenants, which would cause further defaults under our existing debt arrangements. Following the expiration of the Amendment and Waiver, absent additional waivers, the events of default enable the requisite lenders under the Credit Agreement to demand immediate payment or exercise other remedies, such as subject all or a portion of obligations to a default rate of interest. Further, the Company also breached a financial covenant set forth in the Loan and Security Agreement, dated June 30, 2022, entered into by a wholly owned indirect subsidiary of the Company, the lenders party thereto from time to time, Atlas Securitized Products Holdings, L.P., as administrative agent and Computershare Trust Company, National Association, as paying agent (as amended, the “Loan Facility with Credit Suisse AG,” the “Credit Suisse Warehouse Loan,” or the “Atlas Credit Agreement”) (see Note 11. Debt and Credit Sources ), due to delay in delivery of the quarterly financials for the third quarter of 2023 (the “Quarterly Financials Default”), which results in an event of default, thereby enabling the requisite lenders to demand immediate payment of $65.3 million borrowings outstanding as of October 1, 2023, or exercise other remedies. The Company is in discussion with the lenders under the Atlas Credit Agreement regarding a waiver of any breaches. There can be no assurance that such waiver will be obtained. Absent a waiver, the event of default enables the requisite lenders under the Atlas Credit Agreement to demand immediate payment or exercise other remedies, such as subject all or a portion of obligations to a default rate of interest. If the lenders under the Credit Agreement and the Atlas Credit Agreement were to demand immediate repayment, the Company would not have sufficient liquidity to meet its obligations and pay its liabilities arising from normal business operations when they come due. As such, substantial doubt exists about the Company's ability to continue as a going concern. To address our liquidity needs, management is currently seeking additional waivers and evaluating various funding alternatives and may seek to raise additional funds through the issuance of equity, mezzanine or debt securities, through arrangements with strategic partners, which may include related parties, the capital markets, or through obtaining credit from financial institutions. As we seek additional sources of financing, there can be no assurance that such financing would be available to us on favorable terms or at all. Our ability to obtain additional financing in the debt and equity capital markets is subject to several factors, including market and economic conditions, our performance and investor sentiment with respect to us and our industry. The outcome of these matters cannot be predicted with any certainty at this time. 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 1, 2023 consolidated balance sheet data was derived from SunPower’s audited consolidated financial statements included in our Annual Report on Form 10-K/A for the fiscal year ended January 1, 2023, as filed with the Securities and Exchange Commission (“SEC”) on December 18, 2023, 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/A for the fiscal year ended January 1, 2023. The operating results for the three and six months ended July 2, 2023 are not necessarily indicative of the results that may be expected for fiscal year 2023, 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 2023, and prior fiscal year, fiscal 2022, are 52-week fiscal years. The second quarter of fiscal 2023 ended on July 2, 2023, while the second quarter of fiscal 2022 ended on July 3, 2022. 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 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; actuarial estimates related to our self-insured health benefits; 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. Restatement of Previously Issued Condensed Consolidated Financial Statements As described in Note 2. Restatement of Previously Issued Condensed Consolidated Financial Statements , our condensed consolidated financial statements as of July 2, 2023 and January 1, 2023, and for the three and six months ended July 2, 2023 and July 3, 2022 (collectively, the “Affected Periods”), are restated in this Quarterly Report on Form 10-Q/A (this “Amendment No. 1”, this “Quarterly Report” or this “Form 10-Q/A”) to reflect the corrections related to the value of consignment inventory of microinverter (“MI") components at certain warehouse and third-party locations and corrections related to reclassification of certain expenses in our statements of operations, along with other immaterial corrections. The restated condensed consolidated financial statements are indicated as “Restated” in the unaudited condensed consolidated financial statements and accompanying notes, as applicable. See Note 2. Restatement of Previously Issued Condensed Consolidated Financial Statements for further discussion. Segment Information We 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/A for the fiscal year ended January 1, 2023. Refer to our Annual Report on Form 10-K/A for the fiscal year ended January 1, 2023 for the full list of our significant accounting policies. There have been no material changes or updates to our significant accounting policies disclosed in the Form 10-K/A except as updated below. Revenue Recognition 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. Solar Power Systems and Component Sales A majority of our revenue is generated by sales of fully functioning solar power systems to our customers. We sell our products through a network of installing and non-installing dealers and resellers, as well as our internal sales team. Usually, our performance obligation is to design and install a fully functioning solar energy system. We recognize revenue when the solar power system is fully installed and the 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 all of the significant risks and rewards of ownership of the solar power system. In situations when we are not responsible for construction and installation of solar power systems, usually when the sales are made by one of our installing dealers or resellers, we recognize revenue when the components of the solar power system are delivered at the customer site. Our costs to obtain and fulfill contracts associated with systems sales are expensed as sales, general, and administrative expense and cost of revenue, respectively. In addition, incentives we provide to our customers, such as discounts and rebates, are recorded net to the revenue we have recognized on the solar power system. In addition, we expense sales commissions when incurred if the amortization period is one year or less, and record within sales, general, and administrative expense in our condensed consolidated statements of operations. Revenue is generally recognized at transaction price, net of costs of financing, or other consideration paid to the customers that is not in exchange for a distinct good or service. Also, our arrangements may contain clauses that can either increase or decrease the transaction price. Variable consideration is estimated at each measurement date at its most likely amount to the extent that it is probable that a significant reversal of cumulative revenue recognized will not occur and true-ups are applied prospectively as such estimates change. We also provide solar power systems to our customers in the form of 20-year lease agreements which are entered into by the customer with our third-party leasing partners. These third-party leasing partners are special-purpose entities that we do not control or consolidate. We recognize revenue when the system is fully installed, when permit to operate is given by the local utility company, and the solar system has produced meterable quantities of electricity, as we deem our performance obligation under the contract to be complete at such time. Transfers of financial assets In April 2023, to support the expansion of our residential solar and storage loan funding capacity, we entered into a series of agreements to sell solar loan receivables to a special-purpose entity in our existing joint venture, SunStrong, with Hannon Armstrong Sustainable Infrastructure Capital, Inc. (“HASI”). Under the agreements, we have secured financing commitments to fund more than $450.0 million for our residential solar and storage loan program, including a $300.0 million revolving credit facility from Credit Agricole Corporate & Investment Bank (“CA-CIB”). The CA-CIB credit revolver serves as a warehouse facility for SunStrong to temporarily finance solar assets prior to arranging long-term financings, such as asset-backed securities. The revolving warehouse facility will allow SunStrong to fund the acquisition of solar loans entered into by SunPower Financial's customers and issue asset-backed securities on an ongoing basis. In May 2023, to further support the expansion of our residential solar and storage loan funding capacity, we also entered into a series of agreements to sell solar loan receivables to a newly created special-purpose trust beneficially owned by one or more affiliates of KKR Credit Advisors (US) LLC (“KKR Credit”). Under the agreements, we have secured financing commitments to fund up to $550.0 million for our residential solar and storage loan program over a 15-month term, with annual renewal options. These agreements to sell solar loan receivables to third-parties are accounted for in accordance with ASC 860 , Transfers and Servicing . We make judgments, based in part, on supporting legal opinions, on whether these entities should be consolidated as a variable interest entity, as defined in ASC 810, Consolidation , and whether the transfers to these entities are accounted for as a sale of a financial asset or a secured borrowing under ASC 860 (see Note 10. Equity Investments for a discussion of our conclusion under ASC 810). Under ASC 860, for our loan receivables that are held for sale and the transfer of the financial assets to be considered a sale, the asset must be legally isolated from the transferor and the transferee must have actual and effective control of the asset. When the sale criteria are met, we, as the transferor, derecognize the lower of cost or fair value of the financial asset transferred and recognize a net gain or loss on the sale based on the difference between proceeds received (less any transaction costs) over the carrying value or fair value. Even though we serve as the primary or master servicer of the special-purpose entity, which represents a form of continuing involvement under ASC 860, this does not preclude sale accounting, because as the servicer, we do not have the power to make significant decisions or any other form of control impacting the performance of the entity. We do not retain actual or effective control in the transferred loan receivables, and therefore, the transfers are accounted for as a sale with the gain or loss from the sales included in our condensed consolidated statements of operations. The gain or loss, and cash proceeds, related to the sales of the financial assets are classified as operating activities in our condensed consolidated statements of cash flows. Our loan receivables are held for sale and recorded at the net present value of the loan payments upon loan origination, adjusted for the significant financing component using the same interest rate that the Company would use if it was to enter into a separate financing transaction with the customer. We subsequently measure our loan receivables held for sale at the lower of cost or fair value on a loan-by-loan basis until the loan receivables are sold. Our loan receivables held for sale are typically sold within 30 days of origination. If the purchased loans do not meet the eligibility criteria to be sold, the loan receivables are transferred to held to maturity and included at amortized cost within “accounts receivable, net” and “other long-term assets” on our condensed consolidated balance sheets. These loan receivable agreements held to maturity have a term of typically 20 - 25 years and relate to loans that our customers enter into to pay for their solar power systems.

Restatement of Condensed Consol

Restatement of Condensed Consolidated Financial Statements	6 Months Ended
	Jul. 02, 2023
Accounting Changes and Error Corrections [Abstract]
Restatement of Condensed Consolidated Financial Statements	RESTATEMENT OF PREVIOUSLY ISSUED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS Restatement Background On October 19, 2023, the Audit Committee of the Board of Directors (the “Board”) of the Company, based upon the recommendation of management, determined that our (i) audited consolidated financial statements included in our Annual Report on Form 10-K for the period ended January 1, 2023, filed with the SEC on March 10, 2023 (the “Original Form 10-K”), (ii) unaudited condensed consolidated financial statements included in our Quarterly Report on Form 10-Q for the quarterly period ended April 2, 2023, filed with the SEC on May 3, 2023 (the “Q1 2023 Form 10-Q”), and (iii) unaudited condensed consolidated financial statements included in our Quarterly Report on Form 10-Q for the quarterly period ended July 2, 2023, filed with the SEC on August 2, 2023 (the “Original Q2 2023 Form 10-Q,” and collectively, the “Affected Periods”), as well as the relevant portions of any communication which describe or are based on such consolidated financial statements, should no longer be relied upon, and that the previously issued financial statements for the Affected Periods should be restated. This Note discloses the nature of the restatement adjustments and discloses the cumulative effects of these adjustments on the condensed consolidated balance sheets, statements of operations, and statements of cash flows for the periods included in the Original Form 10-Q. The consolidated statements of comprehensive income (loss) and statements of equity for the three and six months ended July 2, 2023 and July 3, 2022 have also been restated for the correction to net income (loss). The unaudited condensed consolidated balance sheet as of January 1, 2023, and the unaudited condensed consolidated financial statements as of July 2, 2023 and for the three and six months ended July 2, 2023 and July 3, 2022, have been restated to reflect the corrections related to the value of consignment inventory of MI costs at certain warehouse and third-party locations, and reclassification of certain expenses in our condensed consolidated statements of operations as further described below, along with other immaterial items pertaining to the periods noted above. The effects of the restatement, including the related income tax impacts have been reflected in the impacted tables and footnotes throughout these condensed consolidated financial statements in this Amendment No. 1. The restatement adjustments and their impacts on the previously issued condensed consolidated financial statements included in the Original Q2 2023 Form 10-Q are described below. Description of Restatement Adjustments The categories of the restatement adjustments and their impact on the previously reported condensed consolidated financial statements included in the Original Q2 2023 Form 10-Q are described below. a. Inventory Related Adjustments - In the third quarter of fiscal year 2023, while reviewing our inventory account reconciliations, we identified that the consumption of certain MI costs in photo-voltaic module manufacturing had been inaccurately recorded starting in the first quarter of fiscal year 2022. This resulted in an overstatement of MI costs included in finished goods inventory, and an understatement of cost of revenues for the impacted periods. The impact of the correction is to recognize an increase in cost of revenues for the relevant MI costs, with a corresponding reduction to our finished goods inventory and increase in accrued liabilities related to additional accruals for sales and use taxes. In addition, we also identified other immaterial miscellaneous inventory-related misstatements during the first and second quarters of fiscal years 2023 and 2022, pertaining to the physical inventory counts and classifications between financial statement line items related to inventories. • The aggregated impact to the condensed consolidated statements of operations for the three and six months ended July 2, 2023 is an increase to total cost of revenues of $1.1 million and $0.9 million, respectively. The impact to the condensed consolidated balance sheets as of July 2, 2023 is a decrease in inventories of $20.5 million, an increase i n advances to suppliers, current portion of $2.8 million, an increase in prepaid expenses and other current assets of $0.1 million, a decrease in accounts payable of $1.6 million, and an increase in accrued liabilities of $0.6 million. • The aggregated impact to the condensed consolidated statements of operations for the three and six months ended July 3, 2022 is an increase to total cost of revenues of $4.3 million and $7.5 million, respectively. The impact to the condensed consolidated balance sheets as of January 1, 2023 is a decrease in inventories of $19.7 million, an increase in advances to suppliers, current portion of $2.8 million, an increase in prepaid expenses and other current assets of $2.4 million, an increase in accounts payable of $0.8 million, and an increase in accrued liabilities of $0.4 million. b. Classification of Expense in the Statements of Operations - In fiscal year 2023, we identified errors related to the classification of certain expenses as cost of revenues instead of operating expenses. This resulted in the reclassification of certain expenses from cost of revenues to selling, general, and administrative expense for the three and six months ended July 2, 2023 and July 3, 2022. • The aggregated impact to the condensed consolidated statements of operations for the three and six months ended July 2, 2023 is a decrease to total cost of revenues of $9.7 million and $23.5 million, respectively, and an increase to sales, general, and administrative expenses of $9.7 million and $23.5 million, respectively. • The aggregated impact to the condensed consolidated statements of operations for the three and six months ended July 3, 2022 is a decrease to total cost of revenues of $14.8 million and $25.6 million, respectively, and an increase to sales, general, and administrative expenses of $14.8 million and $25.6 million, respectively. c. Timing of Revenue Recognition for Certain Revenue Contracts - In the fourth quarter of fiscal year 2022, we determined that a portion of revenue earned from sales through our New Homes channel were incorrectly deferred. We concluded that our performance obligations related to these contracts had been satisfied and revenue should have been recognized. • There was no impact to the condensed consolidated statements of operations for the three months ended July 2, 2023. For the six months ended July 2, 2023, the impact to the condensed consolidated statements of operations is a decrease to total revenues of $6.4 million and a decrease to total cost of revenues of $4.0 million. • The impact to the condensed consolidated balance sheets as of January 1, 2023 is an increase in contract assets of $6.4 million and a decrease in prepaid expenses and other current assets of $4.0 million. d. Other Restatement Adjustments - There are other restatement adjustments otherwise not described in items (a) through (c) above, which are individually and in the aggregate insignificant for the periods of the three and six months ended July 2, 2023 and July 3, 2022. Condensed Consolidated Financial Statements - Restatement Reconciliation Tables In light of the foregoing, in accordance with ASC 250, Accounting Changes and Error Corrections , we are restating the previously issued condensed consolidated financial statements as of July 2, 2023 and January 1, 2023, and for the three and six months ended July 2, 2023 and July 3, 2022 to reflect the effects of the restatement adjustments, and to make certain corresponding disclosures. In the following tables, we have presented a reconciliation of our condensed consolidated balance sheets, statements of operations, and cash flows as previously reported for these periods to the restated and revised amounts. Summary of Restatement - Condensed Consolidated Balance Sheets July 2, 2023 January 1, 2023 (In thousands) As Previously Reported Restatement Adjustments Restatement Reference As Restated As Previously Reported Restatement Adjustments Restatement Reference As Restated Assets Current assets: Cash and cash equivalents $ 114,104 $ — $ 114,104 $ 377,026 $ — $ 377,026 Restricted cash and cash equivalents, current portion 1,233 842 d 2,075 9,855 813 d 10,668 Short-term investments — — — 132,480 — 132,480 Accounts receivable, net 214,378 5,818 d 220,196 174,577 (4,903) d 169,674 Contract assets 49,357 — 49,357 50,692 6,378 c 57,070 Loan receivables held for sale, net 12,917 (970) d 11,947 — — — Inventories 424,040 (21,665) a, d 402,375 316,815 (21,084) a, d 295,731 Advances to suppliers, current portion 1,895 2,750 a 4,645 9,309 2,750 a 12,059 Prepaid expenses and other current assets 228,283 591 a, d 228,874 197,760 51 a, c, d 197,811 Total current assets 1,046,207 (12,634) 1,033,573 1,268,514 (15,995) 1,252,519 Restricted cash and cash equivalents, net of current portion 15,937 3,742 d 19,679 15,151 3,661 d 18,812 Property, plant and equipment, net 95,715 70 d 95,785 74,522 1,951 d 76,473 Operating lease right-of-use assets 35,219 — 35,219 36,926 — 36,926 Solar power systems leased, net 39,767 — 39,767 41,779 — 41,779 Goodwill 126,338 (340) d 125,998 126,338 (340) d 125,998 Other intangible assets, net 20,682 — 20,682 24,192 — 24,192 Other long-term assets 193,912 (7,913) d 185,999 192,585 (5,658) d 186,927 Total assets $ 1,573,777 $ (17,075) $ 1,556,702 $ 1,780,007 $ (16,381) $ 1,763,626 Liabilities and Equity Current liabilities: Accounts payable $ 229,008 $ (1,622) a $ 227,386 $ 242,229 $ 910 a, d $ 243,139 Accrued liabilities 131,694 1,836 a, d 133,530 145,229 2,890 a, d 148,119 Operating lease liabilities, current portion 11,501 — 11,501 11,356 — 11,356 Contract liabilities, current portion 223,302 544 d 223,846 144,209 (2,346) d 141,863 Short-term debt 42,285 5,769 d 48,054 82,404 (164) d 82,240 Convertible debt, current portion — — — 424,919 — 424,919 Total current liabilities 637,790 6,527 644,317 1,050,346 1,290 1,051,636 Long-term debt 305,709 — 305,709 308 — 308 Operating lease liabilities, net of current portion 26,873 — 26,873 29,347 — 29,347 Contract liabilities, net of current portion 11,024 33 d 11,057 11,555 33 d 11,588 Other long-term liabilities 114,705 (1,934) d 112,771 112,797 1,905 d 114,702 Long-term liabilities of discontinued operations — — — — — — Total liabilities 1,096,101 4,626 1,100,727 1,204,353 3,228 1,207,581 Commitments and contingencies (Note 9) Equity: Preferred stock — — — — — — Common stock 175 — 175 174 — 174 Additional paid-in capital 2,847,884 — 2,847,884 2,855,930 — 2,855,930 Accumulated deficit (2,149,927) (21,701) a, c, d (2,171,628) (2,066,175) (19,609) a, c, d (2,085,784) Accumulated other comprehensive income 11,586 — 11,586 11,568 — 11,568 Treasury stock, at cost (232,940) — (232,940) (226,646) — (226,646) Total stockholders' equity 476,778 (21,701) 455,077 574,851 (19,609) 555,242 Noncontrolling interests in subsidiaries 898 — 898 803 — 803 Total equity 477,676 (21,701) 455,975 575,654 (19,609) 556,045 Total liabilities and equity $ 1,573,777 $ (17,075) $ 1,556,702 $ 1,780,007 $ (16,381) $ 1,763,626 Summary of Restatement - Condensed Consolidated Statements of Operations Three Months Ended July 2, 2023 July 3, 2022 (In thousands, except per share data) As Previously Reported Restatement Adjustments Restatement Reference As Restated As Previously Reported Restatement Adjustments Restatement Reference As Restated Total revenues $ 463,851 $ (491) d $ 463,360 $ 417,772 $ (308) d $ 417,464 Total cost of revenues 399,724 (10,293) a, b, d 389,431 336,273 (9,536) a, b, d 326,737 Gross profit 64,127 9,802 73,929 81,499 9,228 90,727 Operating expenses: Research and development 6,508 — 6,508 7,405 (223) d 7,182 Sales, general, and administrative 82,709 7,789 b, d 90,498 93,043 12,317 b, d 105,360 Restructuring charges (credits) — — — (494) — (494) Expense (income) from transition services agreement, net 84 — 84 (494) — (494) Total operating expenses 89,301 7,789 97,090 99,460 12,094 111,554 Operating (loss) income (25,174) 2,013 (23,161) (17,961) (2,866) (20,827) Other (expense) income, net: Interest income 329 — 329 92 — 92 Interest expense (5,786) — (5,786) (5,964) (496) d (6,460) Other, net 289 — 289 (14,652) — (14,652) Other (expense) income, net (5,168) — (5,168) (20,524) (496) (21,020) (Loss) income from continuing operations before income taxes and equity in earnings (losses) of unconsolidated investees (30,342) 2,013 (28,329) (38,485) (3,362) (41,847) (Provision for) benefits from income taxes (227) (151) d (378) (3,226) 4,019 d 793 Equity in earnings (losses) of unconsolidated investees 311 (79) d 232 — — — Net (loss) income from continuing operations (30,258) 1,783 (28,475) (41,711) 657 (41,054) (Loss) income from discontinued operations before income taxes and equity in earnings (losses) of unconsolidated investees (2,796) — (2,796) (20,857) (703) d (21,560) Benefits from (provision for) income taxes from discontinued operations — 77 d 77 241 (134) d 107 Net (loss) income from discontinued operations (2,796) 77 (2,719) (20,616) (837) (21,453) Net (loss) income (33,054) 1,860 (31,194) (62,327) (180) (62,507) Net (income) loss from continuing operations attributable to noncontrolling interests (14) — (14) (785) — (785) Net loss (income) from discontinued operations attributable to noncontrolling interests — — — — — — Net (income) loss attributable to noncontrolling interests (14) — (14) (785) — (785) Net (loss) income from continuing operations attributable to stockholders (30,272) 1,783 (28,489) (42,496) 657 (41,839) Net (loss) income from discontinued operations attributable to stockholders (2,796) 77 (2,719) (20,616) (837) (21,453) Net (loss) income attributable to stockholders $ (33,068) $ 1,860 $ (31,208) $ (63,112) $ (180) $ (63,292) Net (loss) income per share attributable to stockholders - basic and diluted: Continuing operations $ (0.17) $ 0.01 a, d $ (0.16) $ (0.24) $ — a, d $ (0.24) Discontinued operations $ (0.02) $ — d $ (0.02) $ (0.12) $ — d $ (0.12) Net (loss) income per share - basic and diluted $ (0.19) $ 0.01 a, d $ (0.18) $ (0.36) $ — a, d $ (0.36) Weighted-average shares: Basic 175,042 — 175,042 173,951 — 173,951 Diluted 175,042 — 175,042 173,951 — 173,951 Six Months Ended July 2, 2023 July 3, 2022 (In thousands, except per share data) As Previously Reported Restatement Adjustments Restatement Reference As Restated As Previously Reported Restatement Adjustments Restatement Reference As Restated Total revenues $ 904,729 $ (7,102) c, d $ 897,627 $ 768,049 $ (467) d $ 767,582 Total cost of revenues 769,667 (27,007) a-d 742,660 614,241 (19,231) a, b, d 595,010 Gross profit 135,062 19,905 154,967 153,808 18,764 172,572 Operating expenses: Research and development 13,755 — 13,755 12,415 (62) d 12,353 Sales, general, and administrative 173,054 21,762 b, d 194,816 170,039 23,188 b, d 193,227 Restructuring charges (credits) — — — 133 — 133 (Income) expense from transition services agreement, net (140) — (140) (228) — (228) Total operating expenses 186,669 21,762 208,431 182,359 23,126 205,485 Operating (loss) income (51,607) (1,857) (53,464) (28,551) (4,362) (32,913) Other (expense) income, net: Interest income 1,160 — 1,160 134 — 134 Interest expense (11,464) — (11,464) (11,008) (503) d (11,511) Other, net (10,694) — (10,694) (13,208) — (13,208) Other (expense) income, net (20,998) — (20,998) (24,082) (503) (24,585) (Loss) income from continuing operations before income taxes and equity in earnings (losses) of unconsolidated investees (72,605) (1,857) (74,462) (52,633) (4,865) (57,498) (Provision for) benefits from income taxes (1,454) (252) d (1,706) 8,417 505 d 8,922 Equity in earnings (losses) of unconsolidated investees 558 (138) d 420 — — — Net (loss) income from continuing operations (73,501) (2,247) (75,748) (44,216) (4,360) (48,576) (Loss) income from discontinued operations before income taxes and equity in earnings (losses) of unconsolidated investees (10,156) — (10,156) (47,155) (703) d (47,858) Benefits from (provision for) income taxes from discontinued operations — 155 d 155 584 (144) d 440 Net (loss) income from discontinued operations (10,156) 155 (10,001) (46,571) (847) (47,418) Net (loss) income (83,657) (2,092) (85,749) (90,787) (5,207) (95,994) Net (income) loss from continuing operations attributable to noncontrolling interests (95) — (95) (446) — (446) Net loss (income) from discontinued operations attributable to noncontrolling interests — — — 250 — 250 Net (income) loss attributable to noncontrolling interests (95) — (95) (196) — (196) Net (loss) income from continuing operations attributable to stockholders (73,596) (2,247) (75,843) (44,662) (4,360) (49,022) Net (loss) income from discontinued operations attributable to stockholders (10,156) 155 (10,001) (46,321) (847) (47,168) Net (loss) income attributable to stockholders $ (83,752) $ (2,092) $ (85,844) $ (90,983) $ (5,207) $ (96,190) Net (loss) income per share attributable to stockholders – basic and diluted: Continuing operations $ (0.42) $ (0.01) a, c, d $ (0.43) $ (0.26) $ (0.02) a, d $ (0.28) Discontinued operations $ (0.06) $ — d $ (0.06) $ (0.27) $ — d $ (0.27) Net (loss) income per share – basic and diluted $ (0.48) $ (0.01) a, c, d $ (0.49) $ (0.53) $ (0.02) a, d $ (0.55) Weighted-average shares: Basic 174,785 — 174,785 173,664 — 173,664 Diluted 174,785 — 174,785 173,664 — 173,664 Summary of Restatement - Condensed Consolidated Statements of Cash Flows Six Months Ended July 2, 2023 July 3, 2022 (In thousands) As Previously Reported Restatement Adjustments Restatement Reference As Restated As Previously Reported Restatement Adjustments Restatement Reference As Restated Cash flows from operating activities: Net (loss) income $ (83,657) $ (2,092) a, c, d $ (85,749) $ (90,787) $ (5,207) a, d $ (95,994) Adjustments to reconcile net (loss) income to net cash used in operating activities: Depreciation and amortization 25,224 (2,012) d 23,212 15,155 368 d 15,523 Amortization of cloud computing arrangements 2,678 134 d 2,812 1,893 99 d 1,992 Stock-based compensation 15,536 — 15,536 12,499 — 12,499 Amortization of debt issuance costs 1,163 — 1,163 1,559 — 1,559 Equity in (earnings) losses of unconsolidated investees (558) 138 d (420) — — — Loss (gain) on equity investments 10,805 — 10,805 13,940 — 13,940 Unrealized (gain) loss on derivatives (294) — (294) — 504 d 504 Dividend from equity method investees 596 — 596 — — — Loss (gain) on loan receivables held for sale 2,163 (2,138) d 25 — — — Deferred income taxes (532) — (532) (11,196) 11 d (11,185) Other, net 575 — 575 949 — 949 Changes in operating assets and liabilities: Accounts receivable (40,380) (10,721) d (51,101) (37,939) 200 d (37,739) Contract assets 1,335 6,378 c 7,713 7,333 (1,280) c 6,053 Inventories (107,225) 581 a, d (106,644) (17,059) 8,199 a, d (8,860) Project assets — — — 295 — 295 Loan receivables held for sale (15,081) 3,109 d (11,972) — — — Prepaid expenses and other assets (24,841) 5,337 a, c, d (19,504) (169,798) 3,383 a, c, d (166,415) Operating lease right-of-use assets 5,516 — 5,516 5,432 187 d 5,619 Advances to suppliers 7,414 — 7,414 (2,072) — (2,072) Accounts payable and other accrued liabilities (25,213) (7,426) a, d (32,639) 46,518 (3,618) a, d 42,900 Contract liabilities 78,562 2,890 d 81,452 66,273 46 d 66,319 Operating lease liabilities (6,134) — (6,134) (7,572) (306) d (7,878) Net cash (used in) provided by operating activities (152,348) (5,822) (158,170) (164,577) 2,586 (161,991) Cash flows from investing activities: Purchases of property, plant, and equipment (26,283) — (26,283) (21,583) (2,414) d (23,997) Investments in software development costs (2,320) — (2,320) (2,725) — (2,725) Cash paid for working capital settlement related to C&I Solutions sale (30,892) — (30,892) — — — Cash received from C&I Solutions sale, net of de-consolidated cash — — — 146,303 — 146,303 Cash paid for equity investments under the Dealer Accelerator Program and other (7,500) — (7,500) (16,420) — (16,420) Proceeds from sale of equity investment 121,675 — 121,675 149,830 — 149,830 Cash paid for investments in unconsolidated investees (7,677) — (7,677) (3,318) — (3,318) Dividend from equity method investee, in excess of cumulative earnings 149 — 149 — — — Net cash provided by (used in) investing activities 47,152 — 47,152 252,087 (2,414) 249,673 Cash flows from financing activities: Proceeds from bank loans and other debt 439,101 — 439,101 100,276 — 100,276 Repayment of bank loans and other debt (171,573) 5,932 d (165,641) (98,044) 153 d (97,891) Repayment of convertible debt (424,991) — (424,991) — — — Payments for financing leases (1,806) — (1,806) (118) (31) d (149) Purchases of stock for tax withholding obligations on vested restricted stock (6,293) — (6,293) (9,588) — (9,588) Net cash (used in) provided by financing activities (165,562) 5,932 (159,630) (7,474) 122 (7,352) Net (decrease) increase in cash, cash equivalents, and restricted cash (270,758) 110 (270,648) 80,036 294 80,330 Cash, cash equivalents, and restricted cash, beginning of period 402,032 4,474 406,506 148,613 3,986 152,599 Cash, cash equivalents, and restricted cash, end of period $ 131,274 $ 4,584 $ 135,858 $ 228,649 $ 4,280 $ 232,929 Reconciliation of cash, cash equivalents, and restricted cash to the condensed consolidated balance sheets: Cash and cash equivalents $ 114,104 $ — $ 114,104 $ 206,355 $ — $ 206,355 Restricted cash and cash equivalents, current portion 1,233 842 d 2,075 1,024 774 d 1,798 Restricted cash and cash equivalents, net of current portion 15,937 3,742 d 19,679 21,270 3,506 d 24,776 Total cash, cash equivalents, and restricted cash $ 131,274 $ 4,584 $ 135,858 $ 228,649 $ 4,280 $ 232,929 Supplemental disclosure of non-cash activities: Property, plant and equipment acquisitions funded by liabilities (including financing leases) $ 8,717 $ — $ 8,717 $ 4,635 $ (48) d $ 4,587 Right-of-use assets obtained in exchange for lease obligations $ 3,809 $ — $ 3,809 $ 1,526 $ (1,017) d $ 509 Working capital adjustment related to C&I Solutions sale $ — $ — $ — $ 6,265 $ — $ 6,265 Supplemental cash flow disclosures: Cash paid for interest $ 18,004 $ — $ 18,004 $ 11,186 $ — $ 11,186 Cash paid for income taxes $ 1,236 $ — $ 1,236 $ 2,500 $ — $ 2,500

Transactions With Total and Tot

Transactions With Total and Total Energies SE	6 Months Ended
	Jul. 02, 2023
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. On May 24, 2022, Total and Total Gaz (collectively, “Sellers”) agreed to sell 50% less one unit of the equity interests in HoldCo, which upon closing of such transaction would be the record holder of all of the shares of our common stock held by Sellers, to GIP Sol (and such transaction, the “Transaction”). On September 12, 2022, Sellers closed the Transaction. In connection with the completion of the Transaction, TotalEnergies Renewables, GIP Sol, and HoldCo entered into a Letter Agreement, dated September 12, 2022, concerning certain governance rights with respect to HoldCo and the shares of our common stock held directly by HoldCo. Specifically, TotalEnergies Renewables and GIP Sol agreed to, among other things, take all actions necessary to cause HoldCo to designate and elect to our board of directors (the “Board”) such individuals as HoldCo is entitled to appoint pursuant to the Affiliation Agreement; provided, however, that for so long as HoldCo is entitled to appoint at least five directors to our Board, GIP Sol shall have the right to appoint two of such five directors. The Letter Agreement also contained certain provisions on voting and on the transfer of HoldCo interests and common stock of the Company. As of July 2, 2023, ownership of our outstanding common stock by TotalEnergies SE and its affiliates, and GIP Sol, was 50.2%. Sale of C&I Solutions Business On May 31, 2022, pursuant to the terms of the Definitive Agreement we signed with TotalEnergies Renewables on February 6, 2022, TotalEnergies Renewables acquired all of the issued and outstanding common stock of our C&I Solutions business. The preliminary purchase price of $190.0 million was subject to certain adjustments, including cash, indebtedness, and an estimated closing date working capital adjustment. Upon closing, we received net cash consideration of $149.2 million based on the estimated net assets of the business on that date. As of the third quarter of fiscal 2022, we recorded a payable of $7.0 million to Total, based on our review of the closing date working capital and our submission of the closing statement. On October 25, 2022, we received a notice of disagreement from TotalEnergies Renewables with respect to the closing statement. As set forth in the Definitive Agreement, we appointed an independent accountant to adjudicate the amount owed under the closing statement. On April 12, 2023, the independent accountant issued its final and binding determination with respect to the disputed items and an additional $23.9 million was deemed in favor of TotalEnergies Renewables. We recorded a payable of $30.9 million in our condensed consolidated balance sheets as of April 2, 2023, and such amount was paid on April 19, 2023. 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. 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 provided that our Board would include eleven members, composed of our president and chief executive officer, our immediate past chief executive officer, Tom 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, declined below certain thresholds, the number of members of the Board that Total was entitled to designate would 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 an additional amendment to the Affiliation Agreement (the “October Affiliation Agreement Amendment”), which provided that our Board would re main at eleven members until March 31, 2022 and allowed for the appointme nt of one additional independent director to fill the vacancy created by Mr. Werner’s resignation from the Board, which was filled as of December 31, 2021. The October Affiliation Agreement Amendment further provided that, after March 31, 2022, the Board would revert to nine members, at which time one independent director and one Total designee would 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. In accordance with the Letter Agreement entered into by TotalEnergies Renewables, GIP Sol, and HoldCo on September 12, 2022, GIP had the right to appoint two designees to our Board. On September 23, 2022, two Total designees resigned from the Board, and on September 26, 2022, the Board appointed two GIP designees. 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. On January 17, 2023, we repaid the outstanding principal amount of $425.0 million of our 4.00% debentures due 2023, $100.0 million of which was held by TotalEnergies, as well as the remaining interest on the 4.00% debentures due 2023 of $8.5 million which was payable upon maturity. 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) July 2, 2023 January 1, 2023 Accounts receivable $ 489 $ 489 Prepaid expenses and other current assets 2,924 2,898 Other long-term assets — 1,284 Accrued liabilities 158 8,033 Three Months Ended Six Months Ended July 2, 2023 July 3, 2022 July 2, 2023 July 3, 2022 (In thousands) (As Restated) (As Restated) (As Restated) (As Restated) Other income: (Income) expense from transition services agreement, net $ 59 $ (518) $ (190) $ (518) Interest expense: Interest expense incurred on the 4.00% debentures due 2023 — 1,000 171 2,000 RELATED-PARTY TRANSACTIONS In connection with the Spin-off of Maxeon Solar, we entered into certain agreements with Maxeon Solar, including a transition services agreement, supply agreement, and collaboration agreement. On June 8, 2022, we entered into a First Amendment to the Cross License Agreement with Maxeon Solar to amend the Cross License Agreement that we entered into in connection with the Spin-off. The below table summarizes our transactions with Maxeon Solar for the three and six months ended July 2, 2023: Three Months Ended Six Months Ended (In thousands) July 2, 2023 July 3, 2022 July 2, 2023 July 3, 2022 Purchases of photovoltaic modules (recorded in cost of revenues) $ 78,432 $ 62,602 $ 148,890 $ 135,061 Research and development expenses reimbursement received 542 8,061 1,006 17,535 Sublease income (recorded in sales, general, and administrative expense) 468 — 936 — Income (expense) from transition services agreement, net (25) (24) (50) (290) We had the following balances related to transactions with Maxeon Solar as of July 2, 2023: As of July 2, 2023 January 1, 2023 (In thousands) (As Restated) Prepaid and other current assets $ 419 $ 607 Accrued liabilities 7,887 11,239 Accounts payable 46,948 38,486 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, SunStrong Partners, Dorado DevCo, and our dealer accelerator equity investees.

Revenue from Contracts with Cus

Revenue from Contracts with Customers	6 Months Ended
	Jul. 02, 2023
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 and six months ended July 2, 2023 and July 3, 2022: Three Months Ended Six Months Ended July 2, 2023 July 3, 2022 July 2, 2023 July 3, 2022 (In thousands) (As Restated) (As Restated) (As Restated) (As Restated) Solar power systems sales $ 369,579 $ 319,986 $ 711,484 $ 591,471 Component sales 88,281 74,542 174,812 134,419 Light commercial sales 60 24,569 612 38,765 Services and other 5,440 (1,633) 10,719 2,927 Total revenues $ 463,360 $ 417,464 $ 897,627 $ 767,582 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 represent accounts receivable unbilled for transactions where revenue has been recognized in advance of billing the customer. Revenue may be recognized in advance of billing the customer, resulting in an amount recorded to “contract assets” or “accounts receivable, net” depending on the expected timing of payment for such unbilled accounts receivable. Once we have an unconditional right to consideration, we typically bill our customer and reclassify the “contract assets” to “accounts receivable, net.” 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. Total contract assets and contract liabilities balances as of the respective dates are as follows: As of July 2, 2023 January 1, 2023 (In thousands) (As Restated) (As Restated) Contract assets $ 49,666 $ 57,379 Contract liabilities 1 $ 234,903 $ 153,451 1 As of July 2, 2023 and January 1, 2023, we had indemnifications of $1.1 million retained in connection with our C&I Solutions sale, which are presented within “contract liabilities, net of current portion” on our condensed consolidated balance sheets. During the three and six months ended July 2, 2023, we recognized revenue of $82.1 million and $91.4 million that was included in contract liabilities as of April 2, 2023 and January 1, 2023, respectively. During the three and six months ended July 3, 2022, we recognized revenue of $40.0 million and $37.9 million that was included in contract liabilities as of April 3, 2022 and January 2, 2022. As of July 2, 2023, we have entered into contracts with customers for sales of solar systems and components for an aggregate transaction price of $755.4 million, the substantial majority of which we expect to recognize over the next 12 months.

Balance Sheet Components

Balance Sheet Components	6 Months Ended
	Jul. 02, 2023
Balance Sheet Related Disclosures [Abstract]
Balance Sheet Components	BALANCE SHEET COMPONENTS Accounts Receivable, Net As of July 2, 2023 January 1, 2023 (In thousands) (As Restated) (As Restated) Accounts receivable, gross $ 234,233 $ 184,733 Less: allowance for credit losses (13,871) (14,750) Less: allowance for sales returns (166) (309) Accounts receivable, net $ 220,196 $ 169,674 Allowance for Credit Losses Three Months Ended Six Months Ended (In thousands) July 2, 2023 July 3, 2022 July 2, 2023 July 3, 2022 Balance at beginning of period $ 13,596 $ 15,181 $ 14,750 $ 14,375 Provision for credit losses 865 628 1,307 1,928 Write-offs (590) (150) (2,186) (644) Balance at end of period $ 13,871 $ 15,659 $ 13,871 $ 15,659 Inventories As of July 2, 2023 January 1, 2023 (In thousands) (As Restated) (As Restated) Photovoltaic modules $ 222,145 $ 136,006 Microinverters 68,832 48,645 Energy storage systems 58,753 62,861 Other solar power system component materials 52,645 48,219 Inventories 1 $ 402,375 $ 295,731 1 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 July 2, 2023 January 1, 2023 (In thousands) (As Restated) (As Restated) Deferred project costs $ 101,224 $ 125,604 Deferred costs for solar power systems 86,637 34,124 Related-party receivables 10,119 3,959 Derivative assets 80 — Other 30,814 34,124 Prepaid expenses and other current assets $ 228,874 $ 197,811 Property, Plant and Equipment, Net As of July 2, 2023 January 1, 2023 (In thousands) (As Restated) (As Restated) Testing equipment and tools $ 1,804 $ 1,157 Leasehold improvements 17,201 16,960 Solar power systems 11,100 10,271 Computer equipment 15,576 14,411 Internal-use software 92,939 71,477 Furniture and fixtures 8,105 8,088 Transportation equipment 5,160 3,941 Vehicle finance leases 20,402 12,316 Work-in-progress 7,589 5,958 Property, plant and equipment, gross 2 179,876 144,579 Less: accumulated depreciation and impairment 2,3 (84,091) (68,106) Property, plant, and equipment, net 1,3 $ 95,785 $ 76,473 1 Property, plant, and equipment is predominantly located in the U.S. 2 When our property, plant, and equipment are retired or otherwise disposed of, the cost and related accumulated depreciation are removed from our condensed consolidated balance sheets, and any resulting gain or loss is included within our condensed consolidated statements of operations. As of July 2, 2023 and January 1, 2023, $0.2 million and $0.1 million, respectively, of our gross property, plant, and equipment, which were fully depreciated, were retired, thus, no gain or loss was recognized from the disposal. 3 For the three and six months ended July 2, 2023, we recorded depreciation expense, including accretion expense related to our asset retirement obligations, of $9.5 million and $19.1 million, respectively. For the three and six months ended July 3, 2022, we recorded depreciation expense of $4.4 million and $7.9 million, respectively. Other Long-term Assets As of July 2, 2023 January 1, 2023 (In thousands) (As Restated) (As Restated) Equity investments without readily determinable fair value $ 38,990 $ 31,699 Equity investments with fair value option (“FVO”) 26,023 18,346 Cloud computing arrangements (“CCA”) implementation costs, net of current portion 1 4,131 7,934 Deposits with related parties 6,549 7,329 Retail installment contract receivables, net of current portion 2, 3 91,203 98,001 Long-term deferred project costs 2,925 3,109 Derivative assets 2,507 2,293 Debt issuance costs — 3,556 Loan receivables held to maturity, net of current portion 3 1,057 — Other 12,614 14,660 Other long-term assets $ 185,999 $ 186,927 1 For the three and six months ended July 2, 2023, we recorded $1.1 million and $2.8 million, respectively, of amortization expense related to the amortization of our capitalized CCA costs. For the three and six months ended July 3, 2022, we recorded $1.5 million and $2.0 million, respectively, of amortization expense related to the amortization of our capitalized CCA costs. 2 Our long-term retail installment contract receivables are presented net of the significant financing component of $21.8 million and $22.5 million, and allowance for credit losses of $0.7 million and $0.4 million as of July 2, 2023 and January 1, 2023, respectively. 3 We are exposed to credit risk from certain customers and their potential payment delinquencies on our retail installment contracts and other loan receivables held to maturity. As of July 2, 2023, the average Fair Isaac Corporation (“FICO”) score of our customers under a retail installment contract agreement remained at or above 750, which is generally categorized as a “Very Good” credit profile by the Fair Isaac Corporation. As of July 2, 2023, the average FICO score of our customers under other loan receivable agreements remained at or above 600, which is generally categorized as a “Fair” credit profile by the Fair Isaac Corporation. Accrued Liabilities As of July 2, 2023 January 1, 2023 (In thousands) (As Restated) (As Restated) Employee compensation and employee benefits $ 18,959 $ 36,452 Interest payable 595 8,549 Short-term warranty reserves 33,658 29,677 Legal expenses 4,857 2,681 Taxes payable 8,725 9,641 Payable to related parties 7,887 11,239 Short-term finance lease liabilities 4,724 2,949 Indemnification obligations retained from C&I Solutions sale 1 23,544 20,781 Short-term asset retirement obligation liability 1,525 1,396 Other 29,056 24,754 Accrued liabilities $ 133,530 $ 148,119 1 As of July 2, 2023, we had a total of $22.5 million and $1.0 million of warranty reserves and other indemnifications, respectively, retained in connection with the sale of our C&I Solutions business to TotalEnergies Renewables. As of January 1, 2023, we retained a total of $13.5 million and $7.3 million of warranty reserves and other indemnifications, respectively. Other Long-term Liabilities As of July 2, 2023 January 1, 2023 (In thousands) (As Restated) (As Restated) Deferred revenue $ 33,642 $ 35,864 Long-term warranty reserves 19,674 23,931 Unrecognized tax benefits 12,939 12,295 Related-party liabilities 1,458 1,458 Long-term finance lease liabilities 12,376 7,878 Indemnification obligations retained from C&I Solutions sale 1 10,946 11,385 Long-term asset retirement obligation liability 2,599 2,395 Other 19,137 19,496 Other long-term liabilities $ 112,771 $ 114,702 1 As of July 2, 2023, we had a total of $7.2 million and $3.7 million of warranty reserves and other indemnifications, respectively, retained in connection with the sale of our C&I Solutions business to TotalEnergies Renewables. As of January 1, 2023, we retained a total of $7.6 million and $3.8 million of warranty reserves and other indemnifications, respectively. Accumulated Other Comprehensive Income As of (In thousands) July 2, 2023 January 1, 2023 Cumulative translation adjustment $ 9,594 $ 9,576 Net gain on long-term pension liability obligation 1,992 1,992 Accumulated other comprehensive income $ 11,586 $ 11,568

Loan Receivables Held For Sale

Loan Receivables Held For Sale	6 Months Ended
	Jul. 02, 2023
Receivables [Abstract]
Loan Receivables Held For Sale	LOAN RECEIVABLES HELD FOR SALE The following table summarizes the activity in the balance of loan receivables held for sale, net, reported at the lower of costs or fair value for the three and six months ended July 2, 2023: Three and Six Months Ended July 2, 2023 (In thousands) (As Restated) Balance at beginning of period $ — Additions 1 42,958 Proceeds from sales (31,352) Gain (loss) on sale 2 366 (Increase) decrease in valuation allowance 3 (25) Balance at end of period $ 11,947 1 In the three and six months ended July 2, 2023, we capitalized $5.4 million of transaction costs related to the structuring of the sale of receivables, which are presented within “prepaid expenses and other current assets” in our condensed consolidated balance sheets. 2 In the three and six months ended July 2, 2023, we recognized a gain of $0.4 million recorded within our condensed consolidated statements of operations related to the loan receivables held for sale that were transferred and derecognized during the periods. In addition, we recorded an unrealized loss of $0.1 million from contracts sold during the three and six months ended July 2, 2023 but not yet recognized as revenue, which was deferred and recorded within “contract liabilities” in our condensed consolidated balance sheets. 3

Goodwill and Intangible Assets

Goodwill and Intangible Assets	6 Months Ended
	Jul. 02, 2023
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. We test goodwill impairment at least annually during the last day of the third fiscal quarter, or when events or changes in circumstances indicate that goodwill might be impaired. The evaluation of impairment involves comparing the current fair value of our reporting unit to the book value (including goodwill). We have performed a qualitative assessment of goodwill to determine whether it is more likely than not that the fair value of a reporting unit is less than its carrying amount, including goodwill. After assessing the totality of events and circumstances, we concluded that as of October 2, 2022, the date our last qualitative test was performed, it was more likely than not that the fair value of our reporting unit with goodwill was greater than the book value and, therefore, that there is no goodwill impairment. 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 July 2, 2023: Developed technology $ 3,700 $ (2,158) $ 1,542 Brand 15,800 (6,913) 8,887 Non-compete agreements 3,400 (1,983) 1,417 Software development costs 11,511 (2,675) 8,836 Total $ 34,411 $ (13,729) $ 20,682 As of January 1, 2023: Developed technology $ 3,700 $ (1,542) $ 2,158 Brand 15,800 (4,937) 10,863 Non-compete agreements 3,400 (1,417) 1,983 Software development costs 9,250 (62) 9,188 Total $ 32,150 $ (7,958) $ 24,192 Aggregate amortization expense for intangible assets was $3.2 million and $5.8 million for the three and six months ended July 2, 2023, and $1.6 million and $3.2 million for the three and six months ended July 3, 2022, respectively. No impairment loss was recorded for intangible assets for the three and six months ended July 2, 2023 and July 3, 2022. As of July 2, 2023, the estimated future amortization expense related to intangible assets with finite useful lives for each of the next three fiscal years was as follows, through the end of the useful life of all intangible assets: Expected Amortization Expense Fiscal Year (In thousands) 2023 (remaining six months) $ 6,362 2024 10,094 2025 4,226 Total $ 20,682

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Jul. 02, 2023
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 tables summarize our assets and liabilities measured at fair value on a recurring basis: July 2, 2023 Carrying Value Total Fair Value Level 3 Level 2 Level 1 (In thousands) (As Restated) Assets Cash and cash equivalents: Money market funds $ 45,000 $ 45,000 $ — $ — $ 45,000 Loan receivables held for sale, net 11,947 12,917 — 12,917 — Prepaid expenses and other current assets: Interest rate swaps 80 80 — 80 — Other long-term assets: Equity investments with FVO 26,023 26,023 26,023 — — Equity investments with readily determinable fair value — — — — — Interest rate swaps 2,507 2,507 — 2,507 — Total assets $ 85,557 $ 86,527 $ 26,023 $ 15,504 $ 45,000 January 1, 2023 (In thousands) Carrying Value Total Fair Value Level 3 Level 2 Level 1 Assets Cash and cash equivalents: Money market funds $ 297,474 $ 297,474 $ — $ — $ 297,474 Other long-term assets: Equity investments with FVO 18,346 18,346 18,346 — — Equity investments with readily determinable fair value 132,480 132,480 — — 132,480 Interest rate swaps 2,293 2,293 — 2,293 — Total assets $ 450,593 $ 450,593 $ 18,346 $ 2,293 $ 429,954 Money market funds During fiscal 2022, we entered into investments in money market funds with Bank of America. As of July 2, 2023, we recorded an amount of $45.0 million within “cash and cash equivalents” in our consolidated balance sheets for our investments held in the money market funds. The money market funds are classified within Level 1 in the fair value hierarchy as we value the funds using observable inputs that reflect quoted prices for securities with identical characteristics. Loan receivables held for sale, net Loan receivables held for sale are recorded in the condensed consolidated balance sheets at the net present value when originated, and subsequently measured at lower of cost or fair value on a loan-by-loan basis until the loan receivables are sold. Fair value of our loan receivables held for sale is determined based on the anticipated sale price of the solar loan receivables to third-parties. The loan receivables held for sale are classified within Level 2 of the fair value hierarchy, as the primary component of the price is obtained from observable values of loan receivables with similar terms and characteristics. Equity investments with fair value option (“FVO”) We have elected the FVO in accordance with the guidance in ASC 825, Financial Instruments , for our investment in the SunStrong Capital Holdings, LLC (“SunStrong”), Dorado Development Partners, LLC (“Dorado DevCo”), and SunStrong Partners, LLC (“SunStrong Partners”) joint ventures, 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 an annual basis, during the third fiscal quarter, 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 and loan term and discount rates, some of which require significant judgment by management and are not based on observable inputs. The following table summarizes movements in equity investments for the six months ended July 2, 2023. There were no internal movements between Level 1 or Level 2 fair value measurements to or from Level 3 fair value measurements for the six months ended July 2, 2023. (In thousands) Beginning balance as of January 1, 2023 Equity Distribution Additional Investment Other adjustment Ending balance as of July 2, 2023 Equity investments with FVO $ 18,346 $ — $ 7,677 $ — $ 26,023 Level 3 significant unobservable inputs sensitivity The following table summarizes the significant unobservable inputs used in Level 3 valuation of our investments carried at fair value as of July 2, 2023. Included in the table are the inputs and range of possible inputs that have an effect on the overall valuation of the financial instruments. 2023 Assets: Fair value Valuation Technique Unobservable Input Range 1 Weighted Average 1 Other long-term assets: Equity investments with FVO $ 26,023 Discounted cash flows Discount rate Residual value 12.5%-13% 6.3%-12.9% 12.7% 8.2% Total assets $ 26,023 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. On January 5, 2023, we sold our remaining 0.5 million shares of Enphase common stock in open market transactions for cash proceeds of $121.7 million, with a loss of $10.8 million, which was recorded within “other, net” in our condensed consolidated statements of operations for the six months ended July 2, 2023. During the six months ended July 3, 2022, we sold one million shares of Enphase common stock in open market transactions for net cash proceeds of $149.8 million, and recorded a gain of $1.3 million. Interest Rate Swaps Credit Suisse Interest Rate Swap In connection with the entry into our loan and security purchase agreement with Credit Suisse AG, New York Branch, and other financial institutions to finance our retail installment contract receivables on June 30, 2022, we also entered into interest rate swaps under the agreement, which convert the floating rate loan to a fixed rate. The interest rate swaps were entered into to mitigate the risks associated with interest rate volatility. The swaps terminate in September of 2026, unless we terminate with the maturity of the loan, subject to any early termination costs. The interest rate swaps qualify as derivatives in accordance with the guidance in ASC 815, Derivatives and Hedging . The fair value of the interest rate swaps is determined using a discounted cash flow model that incorporates an assessment of the risk of non-performance by the interest rate swap counterparty and an evaluation of credit risk in valuing derivative instruments. The valuation model uses various inputs including contractual terms, interest rate curves, credit spreads and measures of volatility. As of July 2, 2023, we recorded derivative assets of $2.5 million, within “ other long-term assets interest expense Bank of America Interest Rate Swap In the first quarter of fiscal 2023, we entered into interest rate swaps in our SunPower Financial TM business with Bank of America, which converts the fixed rate loans entered into by SunPower Financial's customers to floating rates. The interest rate swaps were entered into to mitigate the interest rate volatility risks associated with the timing lag between when the customer enters into these fixed rate loans and when the loan is funded and sold to a third-party investor. The swaps terminate beginning in September of 2023 through February of 2024. The interest rate swaps qualify as derivatives in accordance with the guidance in ASC 815, Derivatives and Hedging . The fair value of the interest rate swaps is determined using a discounted cash flow model that incorporates an assessment of the risk of non-performance by the interest rate swap counterparty and an evaluation of credit risk in valuing derivative instruments. The valuation model uses various inputs including contractual terms, interest rate curves, credit spreads and measures of volatility. As of July 2, 2023, we recorded derivative assets of $0.1 million, within “ prepaid expenses and other current assets total revenues Retail installment contract receivables, net The aggregate carrying value of our long-term retail installment contracts as of July 2, 2023 was $104.1 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 July 2, 2023 was $77.5 million. The fair value was determined using a third-party investor determined formula that starts with initial investor pricing by product, adjusted to account for the fair value impact relating to any changes in market spreads based on Level 2 inputs for the relevant benchmark interest rate and credit spread, as reported by Bloomberg.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jul. 02, 2023
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	COMMITMENTS AND CONTINGENCIES Facility and Equipment Leases The tables below present the summarized quantitative information with regard to facility and equipment lease contracts we have entered into: Three Months Ended Six Months Ended July 2, 2023 July 3, 2022 July 2, 2023 July 3, 2022 (In thousands) (As Restated) (As Restated) (As Restated) (As Restated) Operating lease expense $ 3,661 $ 3,364 $ 7,282 $ 6,580 Finance lease expense: Amortization expense 1,031 138 1,806 149 Interest expense on lease liabilities 274 15 463 31 Sublease income (295) (104) (1,041) (191) Total $ 4,671 $ 3,413 $ 8,510 $ 6,569 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows for operating leases $ 4,151 $ 5,021 $ 7,900 $ 8,839 Operating cash flows for finance leases 274 15 463 31 Financing cash flows for finance leases 1,031 138 1,806 149 Right-of-use assets and property, plant, and equipment obtained in exchange for leases: Operating leases $ 1,723 $ 117 $ 3,809 $ 509 Finance leases 5,689 3,277 8,124 4,188 As of July 2, 2023 January 1, 2023 Weighted-average remaining lease term (in years): Operating leases 3.5 3.7 Finance leases 3.4 3.4 Weighted-average discount rate: Operating leases 7.8 % 8.0 % Finance leases 7.0 % 7.0 % The future minimum lease payments to be paid under non-cancellable leases in effect as of July 2, 2023, are as follows: Operating Leases Finance Leases As of July 2, 2023 (In thousands) 2023 (remaining six months) $ 7,212 $ 2,872 2024 13,121 5,653 2025 9,422 5,490 2026 7,799 3,999 2027 4,906 1,069 Thereafter 2,091 61 Total lease payments 44,551 19,144 Less: imputed interest (6,177) (2,044) Total $ 38,374 $ 17,100 Purchase Commitments Future purchase obligations under non-cancellable purchase orders and long-term supply agreements as o f July 2, 2023 are as follows: (In thousands) Fiscal 2023 (remaining six months) Fiscal 2024 Fiscal 2025 Fiscal 2026 Fiscal 2027 Thereafter Total Future purchase obligations $ 134,002 $ 184,926 $ 159,929 $ 778 $ 784 $ 3,745 $ 484,164 The future purchase obligations presented above primarily consist of commitments to purchase photovoltaic modules pursuant to the supply agreements with Maxeon Solar entered into on February 14, 2022 and December 31, 2022, as well as commitments to purchase Module-Level Power Electronics (“MLPEs”) supplied by one vendor. On April 5, 2023, we entered into a new Master Supply Agreement with Waaree Energies Ltd. (“Waaree”) for the purchase of various photovoltaic modules and components to be used in our residential systems. On May 25, 2023, we terminated the Master Supply Agreement with Waaree, including all outstanding purchase orders, and the parties are discussing the disposition of work-in-progress at the time of termination. Waaree products continue to be warranted by Waaree in accordance with the relevant provisions of the Master Supply Agreement. We review the terms of all our long-term supply agreements annually and assess the need for any accruals for estimated losses on adverse purchase commitments, such as lower of cost or net realizable value adjustments that will not be recovered by future sales prices, forfeiture of advanced deposits and liquidated damages, as necessary. Product Warranties The following table summarizes accrued warranty activities for the three and six months ended July 2, 2023 and July 3, 2022: Three Months Ended Six Months Ended July 2, 2023 July 3, 2022 July 2, 2023 July 3, 2022 (In thousands) (As Restated) (As Restated) (As Restated) (As Restated) Balance at the beginning of the period $ 80,502 $ 76,506 $ 74,751 $ 80,592 Accruals for warranties issued during the period 10,188 3,570 21,017 4,326 Settlements and adjustments during the period (7,589) (4,263) (12,667) (9,105) Balance at the end of the period $ 83,101 $ 75,813 $ 83,101 $ 75,813 Pursuant to the Definitive Agreement entered into by us and TotalEnergies Renewables in connection with the sale of our C&I Solutions business, we agreed to indemnify TotalEnergies Renewables for certain projects that were sold as part of our business prior to the sale. During the three and six months ended July 2, 2023, we recorded an additional $1.9 million and $8.7 million of warranty expenses related to our indemnifications of TotalEnergies Renewables, respectively, which is included within “net (loss) income from discontinued operations attributable to stockholders” on our condensed consolidated statements of operations. Liabilities Associated with Uncertain Tax Positions Total liabilities associated with uncertain tax positions were $12.9 million and $12.3 million as of July 2, 2023 and January 1, 2023, 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 various 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 July 2, 2023 and January 1, 2023, our provision was $8.2 million, primarily for tax-related indemnifications. In addition, as of July 2, 2023 and January 1, 2023, we retained an additional $4.9 million of tax-related indemnifications with TotalEnergies Renewables in connection with the sale of our C&I Solutions business, which is included in “current liabilities of discontinued operations” and “long-term liabilities of discontinued operations” on our consolidated balance sheets. SunPower is party to various supply agreements with Hemlock Semiconductor Operations, LLC (f/k/a Hemlock Semiconductor Corporation) and its affiliate, Hemlock Semiconductor, LLC, (collectively, the “Hemlock Agreements”), for the procurement of polysilicon. In connection with the Spin-off of Maxeon Solar, 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 of the first quarter of 2023, Maxeon Solar's commitment under the Hemlock Agreement was finalized. As of July 2, 2023, there are no further payment obligations remaining under the Hemlock Agreements or 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 $2.9 million as of July 2, 2023. In addition, as of July 2, 2023, we have retained a total of $29.8 million of warranty reserves related to our indemnification with TotalEnergies Renewables in connection with the sale of our C&I Solutions business, which are included within “accrued liabilities” and “other long-term liabilities” on our condensed consolidated balance sheets. Legal Matters We are 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	6 Months Ended
	Jul. 02, 2023
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, and equity investments accounted for using the fair value option. 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 “short-term investments” and “other long-term assets” on our condensed consolidated balance sheets, are as follows: As of (In thousands) July 2, 2023 January 1, 2023 (As Restated) (As Restated) Equity investments with readily determinable fair value: Enphase Energy, Inc. $ — $ 132,480 Total equity investments with readily determinable fair value — 132,480 Equity investments without readily determinable fair value: OhmConnect investment 5,000 5,000 Equity method investments under the Dealer Accelerator Program 33,710 26,419 Other equity investments without readily determinable fair value 280 280 Total equity investments without readily determinable fair value 38,990 31,699 Equity investments with FVO: SunStrong Capital Holdings, LLC 10,431 9,871 Dorado Development Partners, LLC 15,289 8,173 SunStrong Partners, LLC 303 302 Total equity investment with FVO 26,023 18,346 Total equity investments $ 65,013 $ 182,525 Equity investments without readily determinable fair value In February 2022, we made an equity investment in OhmConnect, Inc. (“OhmConnect”). We accounted for the investment as an equity investment without readily determinable fair value in accordance with the guidance in ASC 321, Investments - Equity Securities . In fiscal 2022, we launched our Dealer Accelerator Program to help speed the adoption of renewable energy across the U.S. by making minority investments in solar dealers to advance their growth in coordination with the rapid growth of their direct business. As part of the program, dealers receive preferred access to SunPower solar, EV charging equipment, battery storage, and financial products offerings. In addition, we provide the dealers with enhanced lead generation and business strategy support. During fiscal 2022, we entered into four equity investments as part of the Dealer Accelerator Program. The equity investments made were in Sea Bright Solar, Inc for an equity interest of 20.0%, Freedom Solar Holdings, LLC, for an equity interest of 4.5%, EmPower CES, LLC for an equity interest of 20.0% and Renova Energy Corp. for an equity interest of 10.6%. In April 2023, as part of the Dealer Accelerator Program, we entered into an equity investment with LTL LED, LLC, d/b/a Wolf River Electric LLC (“Wolf River”). The investment included a cash payment for an equity interest of 16.7%. All of these equity investments were accounted for as equity method investments without readily determinable fair value in accordance with the guidance in ASC 323, Investments - Equity Method and Joint Ventures , given the material intra-entity transactions that exist under our exclusive supplier agreements as a result of our investments. We recognize our earnings from our equity method investments in the fiscal quarter after the corresponding earnings are recognized by the investee, and recorded earnings from equity method investments of $0.2 million and $0.4 million during the three and six months ended July 2, 2023, as compared to insignificant losses from equity method investments during the three and six months ended July 3, 2022. In addition, during the three and six months ended July 2, 2023, we received a dividend from one of our investees in the amount of $0.2 million and $0.7 million. 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/A for the fiscal year ended January 1, 2023 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 $15.1 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 . 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, and we do not consolidate. During the three and six months ended July 2, 2023, we made $5.7 million and $7.1 million of capital contributions in the equity method investee, respectively. The investment contributed to our equity investment balance in SunStrong and is classified in “other long-term assets” on our condensed consolidated balance sheets. In April 2023, to support the expansion of our solar loan funding capacity, we entered into a series of agreements to sell solar loans to a special-purpose entity within our existing joint venture, SunStrong. The new special-purpose entity is an indirect wholly owned subsidiary of SunStrong. SunPower and Hannon Armstrong will make total capital contributions of up to $24.2 million into SunStrong for 51% and 49% effective equity interest, respectively. In these agreements, we serve as the primary or master servicer of the special-purpose entity, however, as the servicer, we do not have the power to make significant decisions impacting the performance of the entity. With respect to our interest in the special-purpose entity, we determined there is not sufficient equity at risk in the entity, thus, we determined the entity is a VIE as considered under the guidance in ASC 810. Based on the assessment of the required criteria for consolidation, we determined that SunStrong, as the manager of the special-purpose entity, has the power to make decisions over activities that significantly affect the entity and subsidiaries. Therefore, we concluded we are not the primary beneficiary of the entity, and we do not consolidate. During the three and six months ended July 2, 2023, we made a $0.6 million capital contribution in the equity method investee. The investment contributed to our equity investment balance in Dorado DevCo 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 8. Fair Value Measurements . Summarized Financial Information of Unconsolidated VIEs The following tables present summarized consolidated financial statements for SunStrong, a significant investee, based on unaudited information provided to us by the investee: 1 Three Months Ended Six Months Ended (In thousands) July 2, 2023 July 3, 2022 July 2, 2023 July 3, 2022 Summarized statements of operations information: Revenues $ 38,186 $ 36,004 $ 77,159 $ 72,160 Net (loss) income (8,877) (6,150) (10,687) (7,124) Net (loss) income attributable to parents (2,560) 7,029 (23) 8,782 As of (In thousands) July 2, 2023 January 1, 2023 Summarized balance sheet information: Current assets $ 93,589 $ 88,561 Long-term assets 1,972,218 1,823,437 Current liabilities 69,970 94,414 Long-term liabilities 1,482,940 1,378,462 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, SunStrong Partners, Dorado DevCo, and our dealer accelerator equity investees are as follows: As of (In thousands) July 2, 2023 January 1, 2023 Accounts receivable $ 29,538 $ 33,864 Loan receivables held for sale, net 12,917 — Prepaid expenses and other current assets 4,171 3,959 Other long-term assets 6,549 6,549 Accounts payable 742 165 Accrued liabilities 2,162 97 Contract liabilities 157,803 63,504 Three Months Ended Six Months Ended July 2, 2023 July 3, 2022 July 2, 2023 July 3, 2022 (In thousands) (As Restated) (As Restated) Revenues and fees received from investees for products/services $ 117,453 $ 50,739 $ 202,744 $ 92,861 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 $2.4 million and $6.6 million for the three and six months ended July 2, 2023, respectively. Total revenue was $3.9 million and $8.2 million for the three and six months ended July 3, 2022, respectively. The assets of these consolidated VIEs are restricted for use only by the particular investee and are not available for our general operations. As of July 2, 2023, we had $22.9 million of assets from the consolidated VIEs.

Debt and Credit Sources

Debt and Credit Sources	6 Months Ended
	Jul. 02, 2023
Debt Disclosure [Abstract]
Debt and Credit Sources	DEBT AND CREDIT SOURCES The following table summarizes our outstanding debt on our condensed consolidated balance sheets: July 2, 2023 January 1, 2023 (As Restated) (As Restated) (In thousands) Face Value Short-term Long-term Total 1 Face Value Short-term Long-term Total 1 Recourse Debt: 4.00% convertible debentures due 2023 2 $ — $ — $ — $ — $ 424,991 $ 424,919 $ — $ 424,919 Revolver and Term Loan Facility 277,500 34,047 239,409 273,456 — — — — Other debt 13,942 13,942 — 13,942 11,733 11,733 — 11,733 Total recourse debt $ 291,442 $ 47,989 $ 239,409 $ 287,398 $ 436,724 $ 436,652 $ — $ 436,652 Non-Recourse Debt: Credit Suisse Warehouse Loan $ 67,417 $ — $ 66,020 $ 66,020 $ 71,577 $ 70,443 $ — $ 70,443 Other debt 352 65 280 345 371 64 308 372 Total non-recourse debt 67,769 65 66,300 66,365 71,948 70,507 308 70,815 Total $ 359,211 $ 48,054 $ 305,709 $ 353,763 $ 508,672 $ 507,159 $ 308 $ 507,467 1 Refers to the total carrying value of the outstanding debt arrangement. 2 On January 17, 2023, we repaid the remaining outstanding principal amount of $425.0 million of our 4.00% debentures due 2023. As of July 2, 2023, the aggregate future contractual maturities of our outstanding debt, at face value, were as follows: (In thousands) Fiscal 2023 (remaining six months) Fiscal 2024 Fiscal 2025 Fiscal 2026 Fiscal 2027 Thereafter Total Aggregate future maturities of outstanding debt $ 16,475 $ 5,069 $ 5,073 $ 72,493 $ 260,080 $ 21 $ 359,211 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. The 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 July 2, 2023, letters of credit issued and outstanding under the Bank of the West facility totaled $24.3 million, which were collateralized with $12.5 million of restricted cash on the condensed consolidated balance sheets. Loan Facility with Credit Suisse AG On June 30, 2022, we entered into a loan and security purchase agreement with Credit Suisse AG, New York Branch, and other financial institutions, to finance our retail installment contract receivables. The agreement provided for a $100.0 million delayed draw term loan which will mature on December 29, 2023. In connection with the loan agreement, we have established a special purpose entity acting as the borrower under the facility. During the second quarter of fiscal 2023, we amended our loan agreement and extended the facility through June 29, 2026. The loans under the agreement bear interest at a rate as adjusted by the benchmark adjustment, as defined in the term loan agreement, or the base rate plus the applicable margin for such loans. In addition, we also entered into an interest rate swap under the agreement, which converts the floating rate loan to a fixed rate. The swap terminates in September of 2026, unless we terminate early with the maturity of the loan, subject to any early termination costs. The term loan agreement contains customary representations and warranties as well as customary affirmative and negative covenants, including a covenant that any assets of the special purpose borrowing entity will not be available to other creditors of any of our other SunPower entities. As of July 2, 2023, we had $67.4 million borrowings outstanding under the term loan facility, of which $0.7 million is being held in a Liquidity Reserve Account, in accordance with the loan and security purchase agreement, and is collateralized with restricted cash on the condensed consolidated balance sheets as of July 2, 2023. All borrowings outstanding under the term loan facility have a weighted average interest rate of between 6.2% to 7.2%. Revolver and Term Loan Facility with Bank of America and Bank of the West On September 12, 2022, we entered into a Credit Agreement with BofA Securities, Inc. and Bank of the West, as joint lead arrangers and joint bookrunners, and Bank of America, N.A., as Administrative Agent, Collateral Agent, Swingline Lender, and an L/C Issuer. The Credit Agreement consists of a revolving credit facility (the “Revolver”) and a term loan facility (“Term Loan Facility” and, together with the Revolver, the “Facilities”), each facility providing for an aggregate principal amount of $100 million. The Credit Agreement was amended on January 26, 2023, and provided for, among other things, an increase of the Revolver commitments by $100.0 million (the “Increased Revolving Commitments”), including CitiBank, N.A. and JP Morgan Chase Bank, N.A. as the 2023 Incremental Revolving Lenders’. The Increased Revolving Commitments are governed by the same terms and conditions applicable to the Revolver commitments under the Credit Agreement prior to the effectiveness of the Amendment. The Revolver and Term Loan Facility both mature on September 12, 2027. The interest rate for borrowings under the Facilities is based on, at the Company's option, either (1) the highest of (a) the Federal Funds Rate plus 0.50%, and (b) Bank of America's “prime rate” and (c) SOFR plus a margin, or (2) SOFR plus a margin. A commitment fee of between 0.25% and 0.35%, depending on our Total Net Leverage Ratio, is payable quarterly on the undrawn portion of the Revolver. The Credit Agreement contains affirmative and negative covenants customarily applicable to senior secured credit facilities, including covenants restricting the ability of the Company and certain of our subsidiaries, subject to negotiated exceptions, to: incur additional indebtedness; create liens or guarantee obligations; enter into sale-leaseback transactions; merge, liquidate or dispose of assets; make acquisitions or other investments; enter into hedging agreements; pay dividends and make other distributions and engage in transactions with affiliates. Under the Credit Agreement, the Company's Restricted Subsidiaries may not invest cash or property in, or loan to, our Unrestricted Subsidiaries amounts exceeding the limitations set forth in the Credit Agreement. As of July 2, 2023, we had borrowings of $97.5 million and $180.0 million under the Term Loan Facility and Revolver, respectively. The interest rate for the borrowings is SOFR plus a margin. In addition, as of July 2, 2023, we had no issued but undrawn letters of credit outstanding under the Facilities. The letters of credit have a maximum aggregate amount that can be issued of $50.0 million, which is included within the total principal amount of the Revolver facility.

Related-Party Transactions

Related-Party Transactions	6 Months Ended
	Jul. 02, 2023
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. On May 24, 2022, Total and Total Gaz (collectively, “Sellers”) agreed to sell 50% less one unit of the equity interests in HoldCo, which upon closing of such transaction would be the record holder of all of the shares of our common stock held by Sellers, to GIP Sol (and such transaction, the “Transaction”). On September 12, 2022, Sellers closed the Transaction. In connection with the completion of the Transaction, TotalEnergies Renewables, GIP Sol, and HoldCo entered into a Letter Agreement, dated September 12, 2022, concerning certain governance rights with respect to HoldCo and the shares of our common stock held directly by HoldCo. Specifically, TotalEnergies Renewables and GIP Sol agreed to, among other things, take all actions necessary to cause HoldCo to designate and elect to our board of directors (the “Board”) such individuals as HoldCo is entitled to appoint pursuant to the Affiliation Agreement; provided, however, that for so long as HoldCo is entitled to appoint at least five directors to our Board, GIP Sol shall have the right to appoint two of such five directors. The Letter Agreement also contained certain provisions on voting and on the transfer of HoldCo interests and common stock of the Company. As of July 2, 2023, ownership of our outstanding common stock by TotalEnergies SE and its affiliates, and GIP Sol, was 50.2%. Sale of C&I Solutions Business On May 31, 2022, pursuant to the terms of the Definitive Agreement we signed with TotalEnergies Renewables on February 6, 2022, TotalEnergies Renewables acquired all of the issued and outstanding common stock of our C&I Solutions business. The preliminary purchase price of $190.0 million was subject to certain adjustments, including cash, indebtedness, and an estimated closing date working capital adjustment. Upon closing, we received net cash consideration of $149.2 million based on the estimated net assets of the business on that date. As of the third quarter of fiscal 2022, we recorded a payable of $7.0 million to Total, based on our review of the closing date working capital and our submission of the closing statement. On October 25, 2022, we received a notice of disagreement from TotalEnergies Renewables with respect to the closing statement. As set forth in the Definitive Agreement, we appointed an independent accountant to adjudicate the amount owed under the closing statement. On April 12, 2023, the independent accountant issued its final and binding determination with respect to the disputed items and an additional $23.9 million was deemed in favor of TotalEnergies Renewables. We recorded a payable of $30.9 million in our condensed consolidated balance sheets as of April 2, 2023, and such amount was paid on April 19, 2023. 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. 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 provided that our Board would include eleven members, composed of our president and chief executive officer, our immediate past chief executive officer, Tom 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, declined below certain thresholds, the number of members of the Board that Total was entitled to designate would 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 an additional amendment to the Affiliation Agreement (the “October Affiliation Agreement Amendment”), which provided that our Board would re main at eleven members until March 31, 2022 and allowed for the appointme nt of one additional independent director to fill the vacancy created by Mr. Werner’s resignation from the Board, which was filled as of December 31, 2021. The October Affiliation Agreement Amendment further provided that, after March 31, 2022, the Board would revert to nine members, at which time one independent director and one Total designee would 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. In accordance with the Letter Agreement entered into by TotalEnergies Renewables, GIP Sol, and HoldCo on September 12, 2022, GIP had the right to appoint two designees to our Board. On September 23, 2022, two Total designees resigned from the Board, and on September 26, 2022, the Board appointed two GIP designees. 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. On January 17, 2023, we repaid the outstanding principal amount of $425.0 million of our 4.00% debentures due 2023, $100.0 million of which was held by TotalEnergies, as well as the remaining interest on the 4.00% debentures due 2023 of $8.5 million which was payable upon maturity. 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) July 2, 2023 January 1, 2023 Accounts receivable $ 489 $ 489 Prepaid expenses and other current assets 2,924 2,898 Other long-term assets — 1,284 Accrued liabilities 158 8,033 Three Months Ended Six Months Ended July 2, 2023 July 3, 2022 July 2, 2023 July 3, 2022 (In thousands) (As Restated) (As Restated) (As Restated) (As Restated) Other income: (Income) expense from transition services agreement, net $ 59 $ (518) $ (190) $ (518) Interest expense: Interest expense incurred on the 4.00% debentures due 2023 — 1,000 171 2,000 RELATED-PARTY TRANSACTIONS In connection with the Spin-off of Maxeon Solar, we entered into certain agreements with Maxeon Solar, including a transition services agreement, supply agreement, and collaboration agreement. On June 8, 2022, we entered into a First Amendment to the Cross License Agreement with Maxeon Solar to amend the Cross License Agreement that we entered into in connection with the Spin-off. The below table summarizes our transactions with Maxeon Solar for the three and six months ended July 2, 2023: Three Months Ended Six Months Ended (In thousands) July 2, 2023 July 3, 2022 July 2, 2023 July 3, 2022 Purchases of photovoltaic modules (recorded in cost of revenues) $ 78,432 $ 62,602 $ 148,890 $ 135,061 Research and development expenses reimbursement received 542 8,061 1,006 17,535 Sublease income (recorded in sales, general, and administrative expense) 468 — 936 — Income (expense) from transition services agreement, net (25) (24) (50) (290) We had the following balances related to transactions with Maxeon Solar as of July 2, 2023: As of July 2, 2023 January 1, 2023 (In thousands) (As Restated) Prepaid and other current assets $ 419 $ 607 Accrued liabilities 7,887 11,239 Accounts payable 46,948 38,486 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, SunStrong Partners, Dorado DevCo, and our dealer accelerator equity investees.

Income Taxes

Income Taxes	6 Months Ended
	Jul. 02, 2023
Income Tax Disclosure [Abstract]
Income Taxes	INCOME TAXES In the three months ended July 2, 2023, our income tax provision of $0.4 million on a loss from continuing operations before income taxes and equity in earnings of unconsolidated investees of $28.3 million was primarily due to the accrual of interest and penalties on prior year uncertain tax positions. Our income tax benefit of $0.8 million in the three months ended July 3, 2022 on a loss from continuing operations before income taxes of $41.8 million was primarily due to the decrease in deferred tax liability due to mark-to-market unrealized losses on equity investments. In the six months ended July 2, 2023, our income tax provision of $1.7 million o n a loss from co ntinuing operations before income taxes and equity in earnings of unconsolidated investees of $74.5 million, was primarily due to discrete items including taxes on realized gains from sale of equity investments and accrual of interest and penalties on prior year uncertain tax positions. Our income tax benefit of $8.9 million in the six months ended July 3, 2022 on a loss from continuing operations before income taxes of $57.5 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. During the three and six months ended July 2, 2023, in accordance with FASB guidance for interim reporting of income tax, our annual effective tax rate was computed based on year-to-date results. The income tax differs from the amounts computed by applying the statutory income tax rate to the loss from continuing operations before income tax primarily as a result of our valuation allowance and discrete items recorded during the quarter. Our income tax benefit on the loss from discontinued operations before income taxes of $2.8 million and $10.2 million, for the three and six months ended July 2, 2023, was $0.1 million and $0.2 million, respec tively. In the three and six months ended July 3, 2022 , our income tax benefit of $0.1 million and $0.4 million on a loss from discontinued operations before income taxes of $21.6 million and $47.9 million, respectively, was primarily due to the state tax benefit of year-to-date operating losses of the C&I Solutions business. Total liabilities associated with u ncertain tax positions were $12.9 million and $12.3 million as of July 2, 2023 and January 1, 2023, respectively. The increase of $0.6 million was primarily due to the accrual of additional state liabilities, and interest and penalties on existing reserves. On August 16, 2022, the Inflation Reduction Act of 2022 (“IRA”) was signed into law by President Joe Biden. The IRA includes, among other provisions, a 15% minimum tax based on “adjusted financial statement income” exceeding $1.0 billion and a 1% excise tax on net repurchases of stock after December 31, 2022. We do not anticipate that these provisions of the IRA will have an impact on our business.

Net (Loss) Income Per Share

Net (Loss) Income Per Share	6 Months Ended
	Jul. 02, 2023
Earnings Per Share [Abstract]
Net (Loss) Income Per Share	NET (LOSS) INCOME PER SHARE We calculate basic net (loss) income 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. The guidance in ASC 260, Earnings Per Share, 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 (loss) income per share attributable to stockholders: Three Months Ended Six Months Ended July 2, 2023 July 3, 2022 July 2, 2023 July 3, 2022 (In thousands, except per share amounts) (As Restated) (As Restated) (As Restated) (As Restated) Basic and diluted net (loss) income per share: Numerator: Net (loss) income attributable to stockholders - continuing operations 1 $ (28,489) $ (41,839) $ (75,843) $ (49,022) Net (loss) income attributable to stockholders - discontinued operations (2,719) (21,453) (10,001) (47,168) Net (loss) income attributable to stockholders $ (31,208) $ (63,292) $ (85,844) $ (96,190) Denominator: Basic weighted-average common shares 175,042 173,951 174,785 173,664 Basic and dilutive net (loss) income per share - continuing operations $ (0.16) $ (0.24) $ (0.43) $ (0.28) Basic and dilutive net (loss) income per share - discontinued operations (0.02) (0.12) (0.06) (0.27) Basic and dilutive net (loss) income per share $ (0.18) $ (0.36) $ (0.49) $ (0.55) 1 There was no add back of interest expense for the convertible debentures or effect of dilutive securities for the six months ended July 2, 2023, and the three and six months ended July 3, 2022. The convertible debentures were repaid during the first quarter of fiscal 2023. The following is a summary of outstanding anti-dilutive potential common stock that was excluded from diluted net (loss) income per share attributable to stockholders in the following periods: Three Months Ended Six Months Ended (In thousands) July 2, 2023 July 3, 2022 July 2, 2023 July 3, 2022 Restricted stock units 5,025 3,433 4,649 3,465 4.00% debentures due 2023 — 17,068 1,500 17,068

Stock-Based Compensation

Stock-Based Compensation	6 Months Ended
	Jul. 02, 2023
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 Six Months Ended (In thousands) July 2, 2023 July 3, 2022 July 2, 2023 July 3, 2022 Cost of revenues $ 1,904 $ 1,395 $ 3,153 $ 2,350 Research and development 697 270 1,225 839 Sales, general, and administrative 6,058 5,386 11,158 9,263 Total stock-based compensation expense $ 8,659 $ 7,051 $ 15,536 $ 12,452

Subsequent Events

Subsequent Events	6 Months Ended
	Jul. 02, 2023
Subsequent Events [Abstract]
Subsequent Events	SUBSEQUENT EVENTS

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 02, 2023	Jul. 03, 2022	Jul. 02, 2023	Jul. 03, 2022
Pay vs Performance Disclosure
Net (loss) income attributable to parents	$ (31,208)	$ (63,292)	$ (85,844)	$ (96,190)

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Jul. 02, 2023
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Organization and Summary of S_2

Organization and Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Jul. 02, 2023
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 1, 2023 consolidated balance sheet data was derived from SunPower’s audited consolidated financial statements included in our Annual Report on Form 10-K/A for the fiscal year ended January 1, 2023, as filed with the Securities and Exchange Commission (“SEC”) on December 18, 2023, 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/A for the fiscal year ended January 1, 2023. The operating results for the three and six months ended July 2, 2023 are not necessarily indicative of the results that may be expected for fiscal year 2023, 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 2023, and prior fiscal year, fiscal 2022, are 52-week fiscal years. The second quarter of fiscal 2023 ended on July 2, 2023, while the second quarter of fiscal 2022 ended on July 3, 2022.
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 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; actuarial estimates related to our self-insured health benefits; 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 We 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.
Revenue Recognition	Revenue Recognition 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. Solar Power Systems and Component Sales A majority of our revenue is generated by sales of fully functioning solar power systems to our customers. We sell our products through a network of installing and non-installing dealers and resellers, as well as our internal sales team. Usually, our performance obligation is to design and install a fully functioning solar energy system. We recognize revenue when the solar power system is fully installed and the 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 all of the significant risks and rewards of ownership of the solar power system. In situations when we are not responsible for construction and installation of solar power systems, usually when the sales are made by one of our installing dealers or resellers, we recognize revenue when the components of the solar power system are delivered at the customer site. Our costs to obtain and fulfill contracts associated with systems sales are expensed as sales, general, and administrative expense and cost of revenue, respectively. In addition, incentives we provide to our customers, such as discounts and rebates, are recorded net to the revenue we have recognized on the solar power system. In addition, we expense sales commissions when incurred if the amortization period is one year or less, and record within sales, general, and administrative expense in our condensed consolidated statements of operations. Revenue is generally recognized at transaction price, net of costs of financing, or other consideration paid to the customers that is not in exchange for a distinct good or service. Also, our arrangements may contain clauses that can either increase or decrease the transaction price. Variable consideration is estimated at each measurement date at its most likely amount to the extent that it is probable that a significant reversal of cumulative revenue recognized will not occur and true-ups are applied prospectively as such estimates change. We also provide solar power systems to our customers in the form of 20-year lease agreements which are entered into by the customer with our third-party leasing partners. These third-party leasing partners are special-purpose entities that we do not control or consolidate. We recognize revenue when the system is fully installed, when permit to operate is given by the local utility company, and the solar system has produced meterable quantities of electricity, as we deem our performance obligation under the contract to be complete at such time.
Transfer of financial assets	Transfers of financial assets In April 2023, to support the expansion of our residential solar and storage loan funding capacity, we entered into a series of agreements to sell solar loan receivables to a special-purpose entity in our existing joint venture, SunStrong, with Hannon Armstrong Sustainable Infrastructure Capital, Inc. (“HASI”). Under the agreements, we have secured financing commitments to fund more than $450.0 million for our residential solar and storage loan program, including a $300.0 million revolving credit facility from Credit Agricole Corporate & Investment Bank (“CA-CIB”). The CA-CIB credit revolver serves as a warehouse facility for SunStrong to temporarily finance solar assets prior to arranging long-term financings, such as asset-backed securities. The revolving warehouse facility will allow SunStrong to fund the acquisition of solar loans entered into by SunPower Financial's customers and issue asset-backed securities on an ongoing basis. In May 2023, to further support the expansion of our residential solar and storage loan funding capacity, we also entered into a series of agreements to sell solar loan receivables to a newly created special-purpose trust beneficially owned by one or more affiliates of KKR Credit Advisors (US) LLC (“KKR Credit”). Under the agreements, we have secured financing commitments to fund up to $550.0 million for our residential solar and storage loan program over a 15-month term, with annual renewal options. These agreements to sell solar loan receivables to third-parties are accounted for in accordance with ASC 860 , Transfers and Servicing . We make judgments, based in part, on supporting legal opinions, on whether these entities should be consolidated as a variable interest entity, as defined in ASC 810, Consolidation , and whether the transfers to these entities are accounted for as a sale of a financial asset or a secured borrowing under ASC 860 (see Note 10. Equity Investments for a discussion of our conclusion under ASC 810). Under ASC 860, for our loan receivables that are held for sale and the transfer of the financial assets to be considered a sale, the asset must be legally isolated from the transferor and the transferee must have actual and effective control of the asset. When the sale criteria are met, we, as the transferor, derecognize the lower of cost or fair value of the financial asset transferred and recognize a net gain or loss on the sale based on the difference between proceeds received (less any transaction costs) over the carrying value or fair value. Even though we serve as the primary or master servicer of the special-purpose entity, which represents a form of continuing involvement under ASC 860, this does not preclude sale accounting, because as the servicer, we do not have the power to make significant decisions or any other form of control impacting the performance of the entity. We do not retain actual or effective control in the transferred loan receivables, and therefore, the transfers are accounted for as a sale with the gain or loss from the sales included in our condensed consolidated statements of operations. The gain or loss, and cash proceeds, related to the sales of the financial assets are classified as operating activities in our condensed consolidated statements of cash flows. Our loan receivables are held for sale and recorded at the net present value of the loan payments upon loan origination, adjusted for the significant financing component using the same interest rate that the Company would use if it was to enter into a separate financing transaction with the customer. We subsequently measure our loan receivables held for sale at the lower of cost or fair value on a loan-by-loan basis until the loan receivables are sold. Our loan receivables held for sale are typically sold within 30 days of origination. If the purchased loans do not meet the eligibility criteria to be sold, the loan receivables are transferred to held to maturity and included at amortized cost within “accounts receivable, net” and “other long-term assets” on our condensed consolidated balance sheets. These loan receivable agreements held to maturity have a term of typically 20 - 25 years and relate to loans that our customers enter into to pay for their solar power systems.

Restatement of Condensed Cons_2

Restatement of Condensed Consolidated Financial Statements (Tables)	6 Months Ended
	Jul. 02, 2023
Accounting Changes and Error Corrections [Abstract]
Schedule of Error Corrections and Prior Period Adjustments	In the following tables, we have presented a reconciliation of our condensed consolidated balance sheets, statements of operations, and cash flows as previously reported for these periods to the restated and revised amounts. Summary of Restatement - Condensed Consolidated Balance Sheets July 2, 2023 January 1, 2023 (In thousands) As Previously Reported Restatement Adjustments Restatement Reference As Restated As Previously Reported Restatement Adjustments Restatement Reference As Restated Assets Current assets: Cash and cash equivalents $ 114,104 $ — $ 114,104 $ 377,026 $ — $ 377,026 Restricted cash and cash equivalents, current portion 1,233 842 d 2,075 9,855 813 d 10,668 Short-term investments — — — 132,480 — 132,480 Accounts receivable, net 214,378 5,818 d 220,196 174,577 (4,903) d 169,674 Contract assets 49,357 — 49,357 50,692 6,378 c 57,070 Loan receivables held for sale, net 12,917 (970) d 11,947 — — — Inventories 424,040 (21,665) a, d 402,375 316,815 (21,084) a, d 295,731 Advances to suppliers, current portion 1,895 2,750 a 4,645 9,309 2,750 a 12,059 Prepaid expenses and other current assets 228,283 591 a, d 228,874 197,760 51 a, c, d 197,811 Total current assets 1,046,207 (12,634) 1,033,573 1,268,514 (15,995) 1,252,519 Restricted cash and cash equivalents, net of current portion 15,937 3,742 d 19,679 15,151 3,661 d 18,812 Property, plant and equipment, net 95,715 70 d 95,785 74,522 1,951 d 76,473 Operating lease right-of-use assets 35,219 — 35,219 36,926 — 36,926 Solar power systems leased, net 39,767 — 39,767 41,779 — 41,779 Goodwill 126,338 (340) d 125,998 126,338 (340) d 125,998 Other intangible assets, net 20,682 — 20,682 24,192 — 24,192 Other long-term assets 193,912 (7,913) d 185,999 192,585 (5,658) d 186,927 Total assets $ 1,573,777 $ (17,075) $ 1,556,702 $ 1,780,007 $ (16,381) $ 1,763,626 Liabilities and Equity Current liabilities: Accounts payable $ 229,008 $ (1,622) a $ 227,386 $ 242,229 $ 910 a, d $ 243,139 Accrued liabilities 131,694 1,836 a, d 133,530 145,229 2,890 a, d 148,119 Operating lease liabilities, current portion 11,501 — 11,501 11,356 — 11,356 Contract liabilities, current portion 223,302 544 d 223,846 144,209 (2,346) d 141,863 Short-term debt 42,285 5,769 d 48,054 82,404 (164) d 82,240 Convertible debt, current portion — — — 424,919 — 424,919 Total current liabilities 637,790 6,527 644,317 1,050,346 1,290 1,051,636 Long-term debt 305,709 — 305,709 308 — 308 Operating lease liabilities, net of current portion 26,873 — 26,873 29,347 — 29,347 Contract liabilities, net of current portion 11,024 33 d 11,057 11,555 33 d 11,588 Other long-term liabilities 114,705 (1,934) d 112,771 112,797 1,905 d 114,702 Long-term liabilities of discontinued operations — — — — — — Total liabilities 1,096,101 4,626 1,100,727 1,204,353 3,228 1,207,581 Commitments and contingencies (Note 9) Equity: Preferred stock — — — — — — Common stock 175 — 175 174 — 174 Additional paid-in capital 2,847,884 — 2,847,884 2,855,930 — 2,855,930 Accumulated deficit (2,149,927) (21,701) a, c, d (2,171,628) (2,066,175) (19,609) a, c, d (2,085,784) Accumulated other comprehensive income 11,586 — 11,586 11,568 — 11,568 Treasury stock, at cost (232,940) — (232,940) (226,646) — (226,646) Total stockholders' equity 476,778 (21,701) 455,077 574,851 (19,609) 555,242 Noncontrolling interests in subsidiaries 898 — 898 803 — 803 Total equity 477,676 (21,701) 455,975 575,654 (19,609) 556,045 Total liabilities and equity $ 1,573,777 $ (17,075) $ 1,556,702 $ 1,780,007 $ (16,381) $ 1,763,626 Summary of Restatement - Condensed Consolidated Statements of Operations Three Months Ended July 2, 2023 July 3, 2022 (In thousands, except per share data) As Previously Reported Restatement Adjustments Restatement Reference As Restated As Previously Reported Restatement Adjustments Restatement Reference As Restated Total revenues $ 463,851 $ (491) d $ 463,360 $ 417,772 $ (308) d $ 417,464 Total cost of revenues 399,724 (10,293) a, b, d 389,431 336,273 (9,536) a, b, d 326,737 Gross profit 64,127 9,802 73,929 81,499 9,228 90,727 Operating expenses: Research and development 6,508 — 6,508 7,405 (223) d 7,182 Sales, general, and administrative 82,709 7,789 b, d 90,498 93,043 12,317 b, d 105,360 Restructuring charges (credits) — — — (494) — (494) Expense (income) from transition services agreement, net 84 — 84 (494) — (494) Total operating expenses 89,301 7,789 97,090 99,460 12,094 111,554 Operating (loss) income (25,174) 2,013 (23,161) (17,961) (2,866) (20,827) Other (expense) income, net: Interest income 329 — 329 92 — 92 Interest expense (5,786) — (5,786) (5,964) (496) d (6,460) Other, net 289 — 289 (14,652) — (14,652) Other (expense) income, net (5,168) — (5,168) (20,524) (496) (21,020) (Loss) income from continuing operations before income taxes and equity in earnings (losses) of unconsolidated investees (30,342) 2,013 (28,329) (38,485) (3,362) (41,847) (Provision for) benefits from income taxes (227) (151) d (378) (3,226) 4,019 d 793 Equity in earnings (losses) of unconsolidated investees 311 (79) d 232 — — — Net (loss) income from continuing operations (30,258) 1,783 (28,475) (41,711) 657 (41,054) (Loss) income from discontinued operations before income taxes and equity in earnings (losses) of unconsolidated investees (2,796) — (2,796) (20,857) (703) d (21,560) Benefits from (provision for) income taxes from discontinued operations — 77 d 77 241 (134) d 107 Net (loss) income from discontinued operations (2,796) 77 (2,719) (20,616) (837) (21,453) Net (loss) income (33,054) 1,860 (31,194) (62,327) (180) (62,507) Net (income) loss from continuing operations attributable to noncontrolling interests (14) — (14) (785) — (785) Net loss (income) from discontinued operations attributable to noncontrolling interests — — — — — — Net (income) loss attributable to noncontrolling interests (14) — (14) (785) — (785) Net (loss) income from continuing operations attributable to stockholders (30,272) 1,783 (28,489) (42,496) 657 (41,839) Net (loss) income from discontinued operations attributable to stockholders (2,796) 77 (2,719) (20,616) (837) (21,453) Net (loss) income attributable to stockholders $ (33,068) $ 1,860 $ (31,208) $ (63,112) $ (180) $ (63,292) Net (loss) income per share attributable to stockholders - basic and diluted: Continuing operations $ (0.17) $ 0.01 a, d $ (0.16) $ (0.24) $ — a, d $ (0.24) Discontinued operations $ (0.02) $ — d $ (0.02) $ (0.12) $ — d $ (0.12) Net (loss) income per share - basic and diluted $ (0.19) $ 0.01 a, d $ (0.18) $ (0.36) $ — a, d $ (0.36) Weighted-average shares: Basic 175,042 — 175,042 173,951 — 173,951 Diluted 175,042 — 175,042 173,951 — 173,951 Six Months Ended July 2, 2023 July 3, 2022 (In thousands, except per share data) As Previously Reported Restatement Adjustments Restatement Reference As Restated As Previously Reported Restatement Adjustments Restatement Reference As Restated Total revenues $ 904,729 $ (7,102) c, d $ 897,627 $ 768,049 $ (467) d $ 767,582 Total cost of revenues 769,667 (27,007) a-d 742,660 614,241 (19,231) a, b, d 595,010 Gross profit 135,062 19,905 154,967 153,808 18,764 172,572 Operating expenses: Research and development 13,755 — 13,755 12,415 (62) d 12,353 Sales, general, and administrative 173,054 21,762 b, d 194,816 170,039 23,188 b, d 193,227 Restructuring charges (credits) — — — 133 — 133 (Income) expense from transition services agreement, net (140) — (140) (228) — (228) Total operating expenses 186,669 21,762 208,431 182,359 23,126 205,485 Operating (loss) income (51,607) (1,857) (53,464) (28,551) (4,362) (32,913) Other (expense) income, net: Interest income 1,160 — 1,160 134 — 134 Interest expense (11,464) — (11,464) (11,008) (503) d (11,511) Other, net (10,694) — (10,694) (13,208) — (13,208) Other (expense) income, net (20,998) — (20,998) (24,082) (503) (24,585) (Loss) income from continuing operations before income taxes and equity in earnings (losses) of unconsolidated investees (72,605) (1,857) (74,462) (52,633) (4,865) (57,498) (Provision for) benefits from income taxes (1,454) (252) d (1,706) 8,417 505 d 8,922 Equity in earnings (losses) of unconsolidated investees 558 (138) d 420 — — — Net (loss) income from continuing operations (73,501) (2,247) (75,748) (44,216) (4,360) (48,576) (Loss) income from discontinued operations before income taxes and equity in earnings (losses) of unconsolidated investees (10,156) — (10,156) (47,155) (703) d (47,858) Benefits from (provision for) income taxes from discontinued operations — 155 d 155 584 (144) d 440 Net (loss) income from discontinued operations (10,156) 155 (10,001) (46,571) (847) (47,418) Net (loss) income (83,657) (2,092) (85,749) (90,787) (5,207) (95,994) Net (income) loss from continuing operations attributable to noncontrolling interests (95) — (95) (446) — (446) Net loss (income) from discontinued operations attributable to noncontrolling interests — — — 250 — 250 Net (income) loss attributable to noncontrolling interests (95) — (95) (196) — (196) Net (loss) income from continuing operations attributable to stockholders (73,596) (2,247) (75,843) (44,662) (4,360) (49,022) Net (loss) income from discontinued operations attributable to stockholders (10,156) 155 (10,001) (46,321) (847) (47,168) Net (loss) income attributable to stockholders $ (83,752) $ (2,092) $ (85,844) $ (90,983) $ (5,207) $ (96,190) Net (loss) income per share attributable to stockholders – basic and diluted: Continuing operations $ (0.42) $ (0.01) a, c, d $ (0.43) $ (0.26) $ (0.02) a, d $ (0.28) Discontinued operations $ (0.06) $ — d $ (0.06) $ (0.27) $ — d $ (0.27) Net (loss) income per share – basic and diluted $ (0.48) $ (0.01) a, c, d $ (0.49) $ (0.53) $ (0.02) a, d $ (0.55) Weighted-average shares: Basic 174,785 — 174,785 173,664 — 173,664 Diluted 174,785 — 174,785 173,664 — 173,664 Summary of Restatement - Condensed Consolidated Statements of Cash Flows Six Months Ended July 2, 2023 July 3, 2022 (In thousands) As Previously Reported Restatement Adjustments Restatement Reference As Restated As Previously Reported Restatement Adjustments Restatement Reference As Restated Cash flows from operating activities: Net (loss) income $ (83,657) $ (2,092) a, c, d $ (85,749) $ (90,787) $ (5,207) a, d $ (95,994) Adjustments to reconcile net (loss) income to net cash used in operating activities: Depreciation and amortization 25,224 (2,012) d 23,212 15,155 368 d 15,523 Amortization of cloud computing arrangements 2,678 134 d 2,812 1,893 99 d 1,992 Stock-based compensation 15,536 — 15,536 12,499 — 12,499 Amortization of debt issuance costs 1,163 — 1,163 1,559 — 1,559 Equity in (earnings) losses of unconsolidated investees (558) 138 d (420) — — — Loss (gain) on equity investments 10,805 — 10,805 13,940 — 13,940 Unrealized (gain) loss on derivatives (294) — (294) — 504 d 504 Dividend from equity method investees 596 — 596 — — — Loss (gain) on loan receivables held for sale 2,163 (2,138) d 25 — — — Deferred income taxes (532) — (532) (11,196) 11 d (11,185) Other, net 575 — 575 949 — 949 Changes in operating assets and liabilities: Accounts receivable (40,380) (10,721) d (51,101) (37,939) 200 d (37,739) Contract assets 1,335 6,378 c 7,713 7,333 (1,280) c 6,053 Inventories (107,225) 581 a, d (106,644) (17,059) 8,199 a, d (8,860) Project assets — — — 295 — 295 Loan receivables held for sale (15,081) 3,109 d (11,972) — — — Prepaid expenses and other assets (24,841) 5,337 a, c, d (19,504) (169,798) 3,383 a, c, d (166,415) Operating lease right-of-use assets 5,516 — 5,516 5,432 187 d 5,619 Advances to suppliers 7,414 — 7,414 (2,072) — (2,072) Accounts payable and other accrued liabilities (25,213) (7,426) a, d (32,639) 46,518 (3,618) a, d 42,900 Contract liabilities 78,562 2,890 d 81,452 66,273 46 d 66,319 Operating lease liabilities (6,134) — (6,134) (7,572) (306) d (7,878) Net cash (used in) provided by operating activities (152,348) (5,822) (158,170) (164,577) 2,586 (161,991) Cash flows from investing activities: Purchases of property, plant, and equipment (26,283) — (26,283) (21,583) (2,414) d (23,997) Investments in software development costs (2,320) — (2,320) (2,725) — (2,725) Cash paid for working capital settlement related to C&I Solutions sale (30,892) — (30,892) — — — Cash received from C&I Solutions sale, net of de-consolidated cash — — — 146,303 — 146,303 Cash paid for equity investments under the Dealer Accelerator Program and other (7,500) — (7,500) (16,420) — (16,420) Proceeds from sale of equity investment 121,675 — 121,675 149,830 — 149,830 Cash paid for investments in unconsolidated investees (7,677) — (7,677) (3,318) — (3,318) Dividend from equity method investee, in excess of cumulative earnings 149 — 149 — — — Net cash provided by (used in) investing activities 47,152 — 47,152 252,087 (2,414) 249,673 Cash flows from financing activities: Proceeds from bank loans and other debt 439,101 — 439,101 100,276 — 100,276 Repayment of bank loans and other debt (171,573) 5,932 d (165,641) (98,044) 153 d (97,891) Repayment of convertible debt (424,991) — (424,991) — — — Payments for financing leases (1,806) — (1,806) (118) (31) d (149) Purchases of stock for tax withholding obligations on vested restricted stock (6,293) — (6,293) (9,588) — (9,588) Net cash (used in) provided by financing activities (165,562) 5,932 (159,630) (7,474) 122 (7,352) Net (decrease) increase in cash, cash equivalents, and restricted cash (270,758) 110 (270,648) 80,036 294 80,330 Cash, cash equivalents, and restricted cash, beginning of period 402,032 4,474 406,506 148,613 3,986 152,599 Cash, cash equivalents, and restricted cash, end of period $ 131,274 $ 4,584 $ 135,858 $ 228,649 $ 4,280 $ 232,929 Reconciliation of cash, cash equivalents, and restricted cash to the condensed consolidated balance sheets: Cash and cash equivalents $ 114,104 $ — $ 114,104 $ 206,355 $ — $ 206,355 Restricted cash and cash equivalents, current portion 1,233 842 d 2,075 1,024 774 d 1,798 Restricted cash and cash equivalents, net of current portion 15,937 3,742 d 19,679 21,270 3,506 d 24,776 Total cash, cash equivalents, and restricted cash $ 131,274 $ 4,584 $ 135,858 $ 228,649 $ 4,280 $ 232,929 Supplemental disclosure of non-cash activities: Property, plant and equipment acquisitions funded by liabilities (including financing leases) $ 8,717 $ — $ 8,717 $ 4,635 $ (48) d $ 4,587 Right-of-use assets obtained in exchange for lease obligations $ 3,809 $ — $ 3,809 $ 1,526 $ (1,017) d $ 509 Working capital adjustment related to C&I Solutions sale $ — $ — $ — $ 6,265 $ — $ 6,265 Supplemental cash flow disclosures: Cash paid for interest $ 18,004 $ — $ 18,004 $ 11,186 $ — $ 11,186 Cash paid for income taxes $ 1,236 $ — $ 1,236 $ 2,500 $ — $ 2,500

Transactions With Total and T_2

Transactions With Total and Total Energies SE (Tables)	6 Months Ended
	Jul. 02, 2023
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) July 2, 2023 January 1, 2023 Accounts receivable $ 489 $ 489 Prepaid expenses and other current assets 2,924 2,898 Other long-term assets — 1,284 Accrued liabilities 158 8,033 Three Months Ended Six Months Ended July 2, 2023 July 3, 2022 July 2, 2023 July 3, 2022 (In thousands) (As Restated) (As Restated) (As Restated) (As Restated) Other income: (Income) expense from transition services agreement, net $ 59 $ (518) $ (190) $ (518) Interest expense: Interest expense incurred on the 4.00% debentures due 2023 — 1,000 171 2,000 Related-party transactions and balances with SunStrong, SunStrong Partners, Dorado DevCo, and our dealer accelerator equity investees are as follows: As of (In thousands) July 2, 2023 January 1, 2023 Accounts receivable $ 29,538 $ 33,864 Loan receivables held for sale, net 12,917 — Prepaid expenses and other current assets 4,171 3,959 Other long-term assets 6,549 6,549 Accounts payable 742 165 Accrued liabilities 2,162 97 Contract liabilities 157,803 63,504 Three Months Ended Six Months Ended July 2, 2023 July 3, 2022 July 2, 2023 July 3, 2022 (In thousands) (As Restated) (As Restated) Revenues and fees received from investees for products/services $ 117,453 $ 50,739 $ 202,744 $ 92,861 The below table summarizes our transactions with Maxeon Solar for the three and six months ended July 2, 2023: Three Months Ended Six Months Ended (In thousands) July 2, 2023 July 3, 2022 July 2, 2023 July 3, 2022 Purchases of photovoltaic modules (recorded in cost of revenues) $ 78,432 $ 62,602 $ 148,890 $ 135,061 Research and development expenses reimbursement received 542 8,061 1,006 17,535 Sublease income (recorded in sales, general, and administrative expense) 468 — 936 — Income (expense) from transition services agreement, net (25) (24) (50) (290) We had the following balances related to transactions with Maxeon Solar as of July 2, 2023: As of July 2, 2023 January 1, 2023 (In thousands) (As Restated) Prepaid and other current assets $ 419 $ 607 Accrued liabilities 7,887 11,239 Accounts payable 46,948 38,486 Other long-term liabilities 1,458 1,458

Revenue from Contracts with C_2

Revenue from Contracts with Customers (Tables)	6 Months Ended
	Jul. 02, 2023
Revenue from Contract with Customer [Abstract]
Schedule of Disaggregation of Revenue	The following table represents disaggregated revenue from contracts with customers for the three and six months ended July 2, 2023 and July 3, 2022: Three Months Ended Six Months Ended July 2, 2023 July 3, 2022 July 2, 2023 July 3, 2022 (In thousands) (As Restated) (As Restated) (As Restated) (As Restated) Solar power systems sales $ 369,579 $ 319,986 $ 711,484 $ 591,471 Component sales 88,281 74,542 174,812 134,419 Light commercial sales 60 24,569 612 38,765 Services and other 5,440 (1,633) 10,719 2,927 Total revenues $ 463,360 $ 417,464 $ 897,627 $ 767,582
Schedule of Contract Asset and Contract Liability	Total contract assets and contract liabilities balances as of the respective dates are as follows: As of July 2, 2023 January 1, 2023 (In thousands) (As Restated) (As Restated) Contract assets $ 49,666 $ 57,379 Contract liabilities 1 $ 234,903 $ 153,451 1 As of July 2, 2023 and January 1, 2023, we had indemnifications of $1.1 million retained in connection with our C&I Solutions sale, which are presented within “contract liabilities, net of current portion” on our condensed consolidated balance sheets.

Balance Sheet Components (Table

Balance Sheet Components (Tables)	6 Months Ended
	Jul. 02, 2023
Balance Sheet Related Disclosures [Abstract]
Schedule of Accounts Receivable, Net	Accounts Receivable, Net As of July 2, 2023 January 1, 2023 (In thousands) (As Restated) (As Restated) Accounts receivable, gross $ 234,233 $ 184,733 Less: allowance for credit losses (13,871) (14,750) Less: allowance for sales returns (166) (309) Accounts receivable, net $ 220,196 $ 169,674
Schedule of Accounts Receivable, Allowance for Credit Loss	Allowance for Credit Losses Three Months Ended Six Months Ended (In thousands) July 2, 2023 July 3, 2022 July 2, 2023 July 3, 2022 Balance at beginning of period $ 13,596 $ 15,181 $ 14,750 $ 14,375 Provision for credit losses 865 628 1,307 1,928 Write-offs (590) (150) (2,186) (644) Balance at end of period $ 13,871 $ 15,659 $ 13,871 $ 15,659
Schedule of Inventory	Inventories As of July 2, 2023 January 1, 2023 (In thousands) (As Restated) (As Restated) Photovoltaic modules $ 222,145 $ 136,006 Microinverters 68,832 48,645 Energy storage systems 58,753 62,861 Other solar power system component materials 52,645 48,219 Inventories 1 $ 402,375 $ 295,731 1
Schedule of Prepaid Expenses and Other Current Assets	Prepaid Expenses and Other Current Assets As of July 2, 2023 January 1, 2023 (In thousands) (As Restated) (As Restated) Deferred project costs $ 101,224 $ 125,604 Deferred costs for solar power systems 86,637 34,124 Related-party receivables 10,119 3,959 Derivative assets 80 — Other 30,814 34,124 Prepaid expenses and other current assets $ 228,874 $ 197,811
Schedule of Property, Plant and Equipment, Net	Property, Plant and Equipment, Net As of July 2, 2023 January 1, 2023 (In thousands) (As Restated) (As Restated) Testing equipment and tools $ 1,804 $ 1,157 Leasehold improvements 17,201 16,960 Solar power systems 11,100 10,271 Computer equipment 15,576 14,411 Internal-use software 92,939 71,477 Furniture and fixtures 8,105 8,088 Transportation equipment 5,160 3,941 Vehicle finance leases 20,402 12,316 Work-in-progress 7,589 5,958 Property, plant and equipment, gross 2 179,876 144,579 Less: accumulated depreciation and impairment 2,3 (84,091) (68,106) Property, plant, and equipment, net 1,3 $ 95,785 $ 76,473 1 Property, plant, and equipment is predominantly located in the U.S. 2 When our property, plant, and equipment are retired or otherwise disposed of, the cost and related accumulated depreciation are removed from our condensed consolidated balance sheets, and any resulting gain or loss is included within our condensed consolidated statements of operations. As of July 2, 2023 and January 1, 2023, $0.2 million and $0.1 million, respectively, of our gross property, plant, and equipment, which were fully depreciated, were retired, thus, no gain or loss was recognized from the disposal. 3 For the three and six months ended July 2, 2023, we recorded depreciation expense, including accretion expense related to our asset retirement obligations, of $9.5 million and $19.1 million, respectively. For the three and six months ended July 3, 2022, we recorded depreciation expense of $4.4 million and $7.9 million, respectively.
Schedule of Other Long-Term Assets	Other Long-term Assets As of July 2, 2023 January 1, 2023 (In thousands) (As Restated) (As Restated) Equity investments without readily determinable fair value $ 38,990 $ 31,699 Equity investments with fair value option (“FVO”) 26,023 18,346 Cloud computing arrangements (“CCA”) implementation costs, net of current portion 1 4,131 7,934 Deposits with related parties 6,549 7,329 Retail installment contract receivables, net of current portion 2, 3 91,203 98,001 Long-term deferred project costs 2,925 3,109 Derivative assets 2,507 2,293 Debt issuance costs — 3,556 Loan receivables held to maturity, net of current portion 3 1,057 — Other 12,614 14,660 Other long-term assets $ 185,999 $ 186,927 1 For the three and six months ended July 2, 2023, we recorded $1.1 million and $2.8 million, respectively, of amortization expense related to the amortization of our capitalized CCA costs. For the three and six months ended July 3, 2022, we recorded $1.5 million and $2.0 million, respectively, of amortization expense related to the amortization of our capitalized CCA costs. 2 Our long-term retail installment contract receivables are presented net of the significant financing component of $21.8 million and $22.5 million, and allowance for credit losses of $0.7 million and $0.4 million as of July 2, 2023 and January 1, 2023, respectively. 3 We are exposed to credit risk from certain customers and their potential payment delinquencies on our retail installment contracts and other loan receivables held to maturity. As of July 2, 2023, the average Fair Isaac Corporation (“FICO”) score of our customers under a retail installment contract agreement remained at or above 750, which is generally categorized as a “Very Good” credit profile by the Fair Isaac Corporation. As of July 2, 2023, the average FICO score of our customers under other loan receivable agreements remained at or above 600, which is generally categorized as a “Fair” credit profile by the Fair Isaac Corporation.
Schedule of Accrued Liabilities	Accrued Liabilities As of July 2, 2023 January 1, 2023 (In thousands) (As Restated) (As Restated) Employee compensation and employee benefits $ 18,959 $ 36,452 Interest payable 595 8,549 Short-term warranty reserves 33,658 29,677 Legal expenses 4,857 2,681 Taxes payable 8,725 9,641 Payable to related parties 7,887 11,239 Short-term finance lease liabilities 4,724 2,949 Indemnification obligations retained from C&I Solutions sale 1 23,544 20,781 Short-term asset retirement obligation liability 1,525 1,396 Other 29,056 24,754 Accrued liabilities $ 133,530 $ 148,119 1 As of July 2, 2023, we had a total of $22.5 million and $1.0 million of warranty reserves and other indemnifications, respectively, retained in connection with the sale of our C&I Solutions business to TotalEnergies Renewables. As of January 1, 2023, we retained a total of $13.5 million and $7.3 million of warranty reserves and other indemnifications, respectively.
Schedule of Other Long-Term Liabilities	Other Long-term Liabilities As of July 2, 2023 January 1, 2023 (In thousands) (As Restated) (As Restated) Deferred revenue $ 33,642 $ 35,864 Long-term warranty reserves 19,674 23,931 Unrecognized tax benefits 12,939 12,295 Related-party liabilities 1,458 1,458 Long-term finance lease liabilities 12,376 7,878 Indemnification obligations retained from C&I Solutions sale 1 10,946 11,385 Long-term asset retirement obligation liability 2,599 2,395 Other 19,137 19,496 Other long-term liabilities $ 112,771 $ 114,702 1 As of July 2, 2023, we had a total of $7.2 million and $3.7 million of warranty reserves and other indemnifications, respectively, retained in connection with the sale of our C&I Solutions business to TotalEnergies Renewables. As of January 1, 2023, we retained a total of $7.6 million and $3.8 million of warranty reserves and other indemnifications, respectively.
Schedule of Accumulated Other Comprehensive Income	Accumulated Other Comprehensive Income As of (In thousands) July 2, 2023 January 1, 2023 Cumulative translation adjustment $ 9,594 $ 9,576 Net gain on long-term pension liability obligation 1,992 1,992 Accumulated other comprehensive income $ 11,586 $ 11,568

Loan Receivables Held For Sale

Loan Receivables Held For Sale (Tables)	6 Months Ended
	Jul. 02, 2023
Receivables [Abstract]
Summary of Loan Receivables, Held For Sale	The following table summarizes the activity in the balance of loan receivables held for sale, net, reported at the lower of costs or fair value for the three and six months ended July 2, 2023: Three and Six Months Ended July 2, 2023 (In thousands) (As Restated) Balance at beginning of period $ — Additions 1 42,958 Proceeds from sales (31,352) Gain (loss) on sale 2 366 (Increase) decrease in valuation allowance 3 (25) Balance at end of period $ 11,947 1 In the three and six months ended July 2, 2023, we capitalized $5.4 million of transaction costs related to the structuring of the sale of receivables, which are presented within “prepaid expenses and other current assets” in our condensed consolidated balance sheets. 2 In the three and six months ended July 2, 2023, we recognized a gain of $0.4 million recorded within our condensed consolidated statements of operations related to the loan receivables held for sale that were transferred and derecognized during the periods. In addition, we recorded an unrealized loss of $0.1 million from contracts sold during the three and six months ended July 2, 2023 but not yet recognized as revenue, which was deferred and recorded within “contract liabilities” in our condensed consolidated balance sheets. 3

Goodwill and Intangible Assets

Goodwill and Intangible Assets (Tables)	6 Months Ended
	Jul. 02, 2023
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 July 2, 2023: Developed technology $ 3,700 $ (2,158) $ 1,542 Brand 15,800 (6,913) 8,887 Non-compete agreements 3,400 (1,983) 1,417 Software development costs 11,511 (2,675) 8,836 Total $ 34,411 $ (13,729) $ 20,682 As of January 1, 2023: Developed technology $ 3,700 $ (1,542) $ 2,158 Brand 15,800 (4,937) 10,863 Non-compete agreements 3,400 (1,417) 1,983 Software development costs 9,250 (62) 9,188 Total $ 32,150 $ (7,958) $ 24,192
Schedule of Future Amortization Expense	As of July 2, 2023, the estimated future amortization expense related to intangible assets with finite useful lives for each of the next three fiscal years was as follows, through the end of the useful life of all intangible assets: Expected Amortization Expense Fiscal Year (In thousands) 2023 (remaining six months) $ 6,362 2024 10,094 2025 4,226 Total $ 20,682

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Jul. 02, 2023
Fair Value Disclosures [Abstract]
Schedule of Assets and Liabilities Measured and Recorded at Fair Value on a Recurring Basis	The following tables summarize our assets and liabilities measured at fair value on a recurring basis: July 2, 2023 Carrying Value Total Fair Value Level 3 Level 2 Level 1 (In thousands) (As Restated) Assets Cash and cash equivalents: Money market funds $ 45,000 $ 45,000 $ — $ — $ 45,000 Loan receivables held for sale, net 11,947 12,917 — 12,917 — Prepaid expenses and other current assets: Interest rate swaps 80 80 — 80 — Other long-term assets: Equity investments with FVO 26,023 26,023 26,023 — — Equity investments with readily determinable fair value — — — — — Interest rate swaps 2,507 2,507 — 2,507 — Total assets $ 85,557 $ 86,527 $ 26,023 $ 15,504 $ 45,000 January 1, 2023 (In thousands) Carrying Value Total Fair Value Level 3 Level 2 Level 1 Assets Cash and cash equivalents: Money market funds $ 297,474 $ 297,474 $ — $ — $ 297,474 Other long-term assets: Equity investments with FVO 18,346 18,346 18,346 — — Equity investments with readily determinable fair value 132,480 132,480 — — 132,480 Interest rate swaps 2,293 2,293 — 2,293 — Total assets $ 450,593 $ 450,593 $ 18,346 $ 2,293 $ 429,954
Schedule of Equity Method Investment Movements	The following table summarizes movements in equity investments for the six months ended July 2, 2023. There were no internal movements between Level 1 or Level 2 fair value measurements to or from Level 3 fair value measurements for the six months ended July 2, 2023. (In thousands) Beginning balance as of January 1, 2023 Equity Distribution Additional Investment Other adjustment Ending balance as of July 2, 2023 Equity investments with FVO $ 18,346 $ — $ 7,677 $ — $ 26,023
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 July 2, 2023. Included in the table are the inputs and range of possible inputs that have an effect on the overall valuation of the financial instruments. 2023 Assets: Fair value Valuation Technique Unobservable Input Range 1 Weighted Average 1 Other long-term assets: Equity investments with FVO $ 26,023 Discounted cash flows Discount rate Residual value 12.5%-13% 6.3%-12.9% 12.7% 8.2% Total assets $ 26,023 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.

Commitments and Contingencies (

Commitments and Contingencies (Tables)	6 Months Ended
	Jul. 02, 2023
Commitments and Contingencies Disclosure [Abstract]
Schedule of Lease, Cost	The tables below present the summarized quantitative information with regard to facility and equipment lease contracts we have entered into: Three Months Ended Six Months Ended July 2, 2023 July 3, 2022 July 2, 2023 July 3, 2022 (In thousands) (As Restated) (As Restated) (As Restated) (As Restated) Operating lease expense $ 3,661 $ 3,364 $ 7,282 $ 6,580 Finance lease expense: Amortization expense 1,031 138 1,806 149 Interest expense on lease liabilities 274 15 463 31 Sublease income (295) (104) (1,041) (191) Total $ 4,671 $ 3,413 $ 8,510 $ 6,569 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows for operating leases $ 4,151 $ 5,021 $ 7,900 $ 8,839 Operating cash flows for finance leases 274 15 463 31 Financing cash flows for finance leases 1,031 138 1,806 149 Right-of-use assets and property, plant, and equipment obtained in exchange for leases: Operating leases $ 1,723 $ 117 $ 3,809 $ 509 Finance leases 5,689 3,277 8,124 4,188 As of July 2, 2023 January 1, 2023 Weighted-average remaining lease term (in years): Operating leases 3.5 3.7 Finance leases 3.4 3.4 Weighted-average discount rate: Operating leases 7.8 % 8.0 % Finance leases 7.0 % 7.0 %
Schedule of Future Minimum Rental Payments for Operating Leases	The future minimum lease payments to be paid under non-cancellable leases in effect as of July 2, 2023, are as follows: Operating Leases Finance Leases As of July 2, 2023 (In thousands) 2023 (remaining six months) $ 7,212 $ 2,872 2024 13,121 5,653 2025 9,422 5,490 2026 7,799 3,999 2027 4,906 1,069 Thereafter 2,091 61 Total lease payments 44,551 19,144 Less: imputed interest (6,177) (2,044) Total $ 38,374 $ 17,100
Schedule of Future Purchase Obligations	Future purchase obligations under non-cancellable purchase orders and long-term supply agreements as o f July 2, 2023 are as follows: (In thousands) Fiscal 2023 (remaining six months) Fiscal 2024 Fiscal 2025 Fiscal 2026 Fiscal 2027 Thereafter Total Future purchase obligations $ 134,002 $ 184,926 $ 159,929 $ 778 $ 784 $ 3,745 $ 484,164
Schedule of Product Warranty Liability	The following table summarizes accrued warranty activities for the three and six months ended July 2, 2023 and July 3, 2022: Three Months Ended Six Months Ended July 2, 2023 July 3, 2022 July 2, 2023 July 3, 2022 (In thousands) (As Restated) (As Restated) (As Restated) (As Restated) Balance at the beginning of the period $ 80,502 $ 76,506 $ 74,751 $ 80,592 Accruals for warranties issued during the period 10,188 3,570 21,017 4,326 Settlements and adjustments during the period (7,589) (4,263) (12,667) (9,105) Balance at the end of the period $ 83,101 $ 75,813 $ 83,101 $ 75,813

Equity Investments (Tables)

Equity Investments (Tables)	6 Months Ended
	Jul. 02, 2023
Equity Method Investments and Joint Ventures [Abstract]
Schedule of Equity Method Investments	The carrying value of our equity investments, classified as “short-term investments” and “other long-term assets” on our condensed consolidated balance sheets, are as follows: As of (In thousands) July 2, 2023 January 1, 2023 (As Restated) (As Restated) Equity investments with readily determinable fair value: Enphase Energy, Inc. $ — $ 132,480 Total equity investments with readily determinable fair value — 132,480 Equity investments without readily determinable fair value: OhmConnect investment 5,000 5,000 Equity method investments under the Dealer Accelerator Program 33,710 26,419 Other equity investments without readily determinable fair value 280 280 Total equity investments without readily determinable fair value 38,990 31,699 Equity investments with FVO: SunStrong Capital Holdings, LLC 10,431 9,871 Dorado Development Partners, LLC 15,289 8,173 SunStrong Partners, LLC 303 302 Total equity investment with FVO 26,023 18,346 Total equity investments $ 65,013 $ 182,525
Summarized Financial Information of Unconsolidated VIEs	The following tables present summarized consolidated financial statements for SunStrong, a significant investee, based on unaudited information provided to us by the investee: 1 Three Months Ended Six Months Ended (In thousands) July 2, 2023 July 3, 2022 July 2, 2023 July 3, 2022 Summarized statements of operations information: Revenues $ 38,186 $ 36,004 $ 77,159 $ 72,160 Net (loss) income (8,877) (6,150) (10,687) (7,124) Net (loss) income attributable to parents (2,560) 7,029 (23) 8,782 As of (In thousands) July 2, 2023 January 1, 2023 Summarized balance sheet information: Current assets $ 93,589 $ 88,561 Long-term assets 1,972,218 1,823,437 Current liabilities 69,970 94,414 Long-term liabilities 1,482,940 1,378,462 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) July 2, 2023 January 1, 2023 Accounts receivable $ 489 $ 489 Prepaid expenses and other current assets 2,924 2,898 Other long-term assets — 1,284 Accrued liabilities 158 8,033 Three Months Ended Six Months Ended July 2, 2023 July 3, 2022 July 2, 2023 July 3, 2022 (In thousands) (As Restated) (As Restated) (As Restated) (As Restated) Other income: (Income) expense from transition services agreement, net $ 59 $ (518) $ (190) $ (518) Interest expense: Interest expense incurred on the 4.00% debentures due 2023 — 1,000 171 2,000 Related-party transactions and balances with SunStrong, SunStrong Partners, Dorado DevCo, and our dealer accelerator equity investees are as follows: As of (In thousands) July 2, 2023 January 1, 2023 Accounts receivable $ 29,538 $ 33,864 Loan receivables held for sale, net 12,917 — Prepaid expenses and other current assets 4,171 3,959 Other long-term assets 6,549 6,549 Accounts payable 742 165 Accrued liabilities 2,162 97 Contract liabilities 157,803 63,504 Three Months Ended Six Months Ended July 2, 2023 July 3, 2022 July 2, 2023 July 3, 2022 (In thousands) (As Restated) (As Restated) Revenues and fees received from investees for products/services $ 117,453 $ 50,739 $ 202,744 $ 92,861 The below table summarizes our transactions with Maxeon Solar for the three and six months ended July 2, 2023: Three Months Ended Six Months Ended (In thousands) July 2, 2023 July 3, 2022 July 2, 2023 July 3, 2022 Purchases of photovoltaic modules (recorded in cost of revenues) $ 78,432 $ 62,602 $ 148,890 $ 135,061 Research and development expenses reimbursement received 542 8,061 1,006 17,535 Sublease income (recorded in sales, general, and administrative expense) 468 — 936 — Income (expense) from transition services agreement, net (25) (24) (50) (290) We had the following balances related to transactions with Maxeon Solar as of July 2, 2023: As of July 2, 2023 January 1, 2023 (In thousands) (As Restated) Prepaid and other current assets $ 419 $ 607 Accrued liabilities 7,887 11,239 Accounts payable 46,948 38,486 Other long-term liabilities 1,458 1,458

Debt and Credit Sources (Tables

Debt and Credit Sources (Tables)	6 Months Ended
	Jul. 02, 2023
Debt Disclosure [Abstract]
Schedule of Debt	The following table summarizes our outstanding debt on our condensed consolidated balance sheets: July 2, 2023 January 1, 2023 (As Restated) (As Restated) (In thousands) Face Value Short-term Long-term Total 1 Face Value Short-term Long-term Total 1 Recourse Debt: 4.00% convertible debentures due 2023 2 $ — $ — $ — $ — $ 424,991 $ 424,919 $ — $ 424,919 Revolver and Term Loan Facility 277,500 34,047 239,409 273,456 — — — — Other debt 13,942 13,942 — 13,942 11,733 11,733 — 11,733 Total recourse debt $ 291,442 $ 47,989 $ 239,409 $ 287,398 $ 436,724 $ 436,652 $ — $ 436,652 Non-Recourse Debt: Credit Suisse Warehouse Loan $ 67,417 $ — $ 66,020 $ 66,020 $ 71,577 $ 70,443 $ — $ 70,443 Other debt 352 65 280 345 371 64 308 372 Total non-recourse debt 67,769 65 66,300 66,365 71,948 70,507 308 70,815 Total $ 359,211 $ 48,054 $ 305,709 $ 353,763 $ 508,672 $ 507,159 $ 308 $ 507,467 1 Refers to the total carrying value of the outstanding debt arrangement. 2 On January 17, 2023, we repaid the remaining outstanding principal amount of $425.0 million of our 4.00% debentures due 2023.
Schedule of Maturities of Debt	As of July 2, 2023, the aggregate future contractual maturities of our outstanding debt, at face value, were as follows: (In thousands) Fiscal 2023 (remaining six months) Fiscal 2024 Fiscal 2025 Fiscal 2026 Fiscal 2027 Thereafter Total Aggregate future maturities of outstanding debt $ 16,475 $ 5,069 $ 5,073 $ 72,493 $ 260,080 $ 21 $ 359,211

Related-Party Transactions (Tab

Related-Party Transactions (Tables)	6 Months Ended
	Jul. 02, 2023
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) July 2, 2023 January 1, 2023 Accounts receivable $ 489 $ 489 Prepaid expenses and other current assets 2,924 2,898 Other long-term assets — 1,284 Accrued liabilities 158 8,033 Three Months Ended Six Months Ended July 2, 2023 July 3, 2022 July 2, 2023 July 3, 2022 (In thousands) (As Restated) (As Restated) (As Restated) (As Restated) Other income: (Income) expense from transition services agreement, net $ 59 $ (518) $ (190) $ (518) Interest expense: Interest expense incurred on the 4.00% debentures due 2023 — 1,000 171 2,000 Related-party transactions and balances with SunStrong, SunStrong Partners, Dorado DevCo, and our dealer accelerator equity investees are as follows: As of (In thousands) July 2, 2023 January 1, 2023 Accounts receivable $ 29,538 $ 33,864 Loan receivables held for sale, net 12,917 — Prepaid expenses and other current assets 4,171 3,959 Other long-term assets 6,549 6,549 Accounts payable 742 165 Accrued liabilities 2,162 97 Contract liabilities 157,803 63,504 Three Months Ended Six Months Ended July 2, 2023 July 3, 2022 July 2, 2023 July 3, 2022 (In thousands) (As Restated) (As Restated) Revenues and fees received from investees for products/services $ 117,453 $ 50,739 $ 202,744 $ 92,861 The below table summarizes our transactions with Maxeon Solar for the three and six months ended July 2, 2023: Three Months Ended Six Months Ended (In thousands) July 2, 2023 July 3, 2022 July 2, 2023 July 3, 2022 Purchases of photovoltaic modules (recorded in cost of revenues) $ 78,432 $ 62,602 $ 148,890 $ 135,061 Research and development expenses reimbursement received 542 8,061 1,006 17,535 Sublease income (recorded in sales, general, and administrative expense) 468 — 936 — Income (expense) from transition services agreement, net (25) (24) (50) (290) We had the following balances related to transactions with Maxeon Solar as of July 2, 2023: As of July 2, 2023 January 1, 2023 (In thousands) (As Restated) Prepaid and other current assets $ 419 $ 607 Accrued liabilities 7,887 11,239 Accounts payable 46,948 38,486 Other long-term liabilities 1,458 1,458

Net (Loss) Income Per Share (Ta

Net (Loss) Income Per Share (Tables)	6 Months Ended
	Jul. 02, 2023
Earnings Per Share [Abstract]
Schedule of Income (Loss) Per Share	The following table presents the calculation of basic and diluted net (loss) income per share attributable to stockholders: Three Months Ended Six Months Ended July 2, 2023 July 3, 2022 July 2, 2023 July 3, 2022 (In thousands, except per share amounts) (As Restated) (As Restated) (As Restated) (As Restated) Basic and diluted net (loss) income per share: Numerator: Net (loss) income attributable to stockholders - continuing operations 1 $ (28,489) $ (41,839) $ (75,843) $ (49,022) Net (loss) income attributable to stockholders - discontinued operations (2,719) (21,453) (10,001) (47,168) Net (loss) income attributable to stockholders $ (31,208) $ (63,292) $ (85,844) $ (96,190) Denominator: Basic weighted-average common shares 175,042 173,951 174,785 173,664 Basic and dilutive net (loss) income per share - continuing operations $ (0.16) $ (0.24) $ (0.43) $ (0.28) Basic and dilutive net (loss) income per share - discontinued operations (0.02) (0.12) (0.06) (0.27) Basic and dilutive net (loss) income per share $ (0.18) $ (0.36) $ (0.49) $ (0.55) 1 There was no add back of interest expense for the convertible debentures or effect of dilutive securities for the six months ended July 2, 2023, and the three and six months ended July 3, 2022. The convertible debentures were repaid during the first quarter of fiscal 2023.
Schedule of Outstanding Anti-dilutive Potential Common Stock Excluded from (Loss) Income Per Share	The following is a summary of outstanding anti-dilutive potential common stock that was excluded from diluted net (loss) income per share attributable to stockholders in the following periods: Three Months Ended Six Months Ended (In thousands) July 2, 2023 July 3, 2022 July 2, 2023 July 3, 2022 Restricted stock units 5,025 3,433 4,649 3,465 4.00% debentures due 2023 — 17,068 1,500 17,068

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	6 Months Ended
	Jul. 02, 2023
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 Six Months Ended (In thousands) July 2, 2023 July 3, 2022 July 2, 2023 July 3, 2022 Cost of revenues $ 1,904 $ 1,395 $ 3,153 $ 2,350 Research and development 697 270 1,225 839 Sales, general, and administrative 6,058 5,386 11,158 9,263 Total stock-based compensation expense $ 8,659 $ 7,051 $ 15,536 $ 12,452

Organization and Summary of S_3

Organization and Summary of Significant Accounting Policies (Details) $ in Thousands			1 Months Ended	6 Months Ended
	Dec. 08, 2023 USD ($)	Jan. 26, 2023 USD ($)	May 31, 2023 USD ($)	Jul. 02, 2023 segment	Oct. 01, 2023 USD ($)	Apr. 30, 2023 USD ($)	Sep. 12, 2022 USD ($)
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of operating segment | segment				1
Term of contracts				20 years
Financing receivable, held-for-sale, typical selling period, maximum				30 days
Hannon Armstrong and CIB
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Secured financing commitments, amount						$ 450,000
KKR Credit
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Secured financing commitments, amount			$ 550,000
Revolving Credit Facility | Line of Credit | CA-CIB Credit Revolver
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Maximum borrowing capacity						$ 300,000
KKR Credit
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Expiration period			15 months
Revolver and Term Loan Facility
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Maximum borrowing capacity							$ 100,000
Increase in revolver commitments, amount		$ 100,000
Credit facility, remaining capacity					$ 53,700
Credit facility, remaining capacity					$ 53,700
Revolver and Term Loan Facility | Forecast
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Increase in revolver commitments, amount	$ 25,000
Current borrowing capacity	$ 25,000
Minimum
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Financing receivable, held-to-maturity, term				20 years
Maximum
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Financing receivable, held-to-maturity, term				25 years
Holdco
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Equity interest							50%

Restatement of Condensed Cons_3

Restatement of Condensed Consolidated Financial Statements - Narrative (Details) - USD ($)		3 Months Ended		6 Months Ended
		Jul. 02, 2023	Jul. 03, 2022	Jul. 02, 2023	Jul. 03, 2022	Jan. 01, 2023
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Increase (decrease) in total revenues	[1]	$ 463,360,000	$ 417,464,000	$ 897,627,000	$ 767,582,000
Increase (decrease) in cost of revenues		389,431,000	326,737,000	742,660,000	595,010,000
Increase (decrease) in prepaid expenses and other current assets	[2]	228,874,000		228,874,000		$ 197,811,000
Increase (decrease) in accounts receivable, net	[2]	220,196,000		220,196,000		169,674,000
Increase (decrease) in current contract liabilities	[2]	223,846,000		223,846,000		141,863,000
Increase (decrease) in contract assets		49,357,000		49,357,000		57,070,000
Increase (decrease) in inventories		402,375,000		402,375,000		295,731,000
Increase (decrease) in accrued liabilities	[2]	133,530,000		133,530,000		148,119,000
Increase (decrease) in advances to suppliers, current portion		4,645,000		4,645,000		12,059,000
Increase (decrease) in accounts payable	[2]	227,386,000		227,386,000		243,139,000
Increase (decrease) in sales, general, and administrative expenses	[1]	90,498,000	105,360,000	194,816,000	193,227,000
Increase (decrease) in property, plant, and equipment, net		95,785,000		95,785,000		76,473,000
Other long-term liabilities		112,771,000		112,771,000		114,702,000
Increase (decrease) to (loss) income from discontinued operations before income taxes and equity in (losses) earnings of unconsolidated investees	[1]	(2,796,000)	(21,560,000)	(10,156,000)	(47,858,000)
Increase (decrease) in long-term liabilities of discontinued operations		0		0		0
Increase (decrease) in short-term debt		48,054,000		48,054,000		82,240,000
Restatement Adjustment
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Increase (decrease) in total revenues		(491,000)	(308,000)	(7,102,000)	(467,000)
Increase (decrease) in cost of revenues		(10,293,000)	(9,536,000)	(27,007,000)	(19,231,000)
Increase (decrease) in prepaid expenses and other current assets		591,000		591,000		51,000
Increase (decrease) in accounts receivable, net		5,818,000		5,818,000		(4,903,000)
Increase (decrease) in current contract liabilities		544,000		544,000		(2,346,000)
Increase (decrease) in contract assets		0		0		6,378,000
Increase (decrease) in inventories		(21,665,000)		(21,665,000)		(21,084,000)
Increase (decrease) in accrued liabilities		1,836,000		1,836,000		2,890,000
Increase (decrease) in advances to suppliers, current portion		2,750,000		2,750,000		2,750,000
Increase (decrease) in accounts payable		(1,622,000)		(1,622,000)		910,000
Increase (decrease) in sales, general, and administrative expenses		7,789,000	12,317,000	21,762,000	23,188,000
Increase (decrease) in property, plant, and equipment, net		70,000		70,000		1,951,000
Other long-term liabilities		(1,934,000)		(1,934,000)		1,905,000
Increase (decrease) to (loss) income from discontinued operations before income taxes and equity in (losses) earnings of unconsolidated investees		0	(703,000)	0	(703,000)
Increase (decrease) in long-term liabilities of discontinued operations		0		0		0
Increase (decrease) in short-term debt		5,769,000		5,769,000		(164,000)
Restatement Adjustment | Inventory Related Adjustments
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Increase (decrease) in cost of revenues		1,100,000	4,300,000	900,000	7,500,000
Increase (decrease) in prepaid expenses and other current assets		100,000		100,000		2,400,000
Increase (decrease) in inventories		(20,500,000)		(20,500,000)		(19,700,000)
Increase (decrease) in accrued liabilities		600,000		600,000		400,000
Increase (decrease) in advances to suppliers, current portion		2,800,000		2,800,000		2,800,000
Increase (decrease) in accounts payable		(1,600,000)		(1,600,000)		800,000
Restatement Adjustment | Classification of Expense in the Statements of Operations
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Increase (decrease) in cost of revenues		(9,700,000)	(14,800,000)	(23,500,000)	(25,600,000)
Increase (decrease) in sales, general, and administrative expenses		9,700,000	$ 14,800,000	23,500,000	$ 25,600,000
Restatement Adjustment | Timing of Revenue Recognition for Certain Revenue Contracts
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Increase (decrease) in total revenues		$ 0		(6,400,000)
Increase (decrease) in cost of revenues				$ (4,000,000)
Increase (decrease) in prepaid expenses and other current assets						(4,000,000)
Increase (decrease) in contract assets						$ 6,400,000
[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 “total revenues,” “total cost of revenues,” “operating expenses: research and development,” “operating expenses: sales, general, and administrative,” “operating expenses: (income) expense from 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).

Restatement of Condensed Cons_4

Restatement of Condensed Consolidated Financial Statements - Balance Sheets (Details) - USD ($) $ in Thousands		Jul. 02, 2023	Apr. 02, 2023	Jan. 01, 2023	Jul. 03, 2022	Apr. 03, 2022	Jan. 02, 2022
Current assets:
Cash and cash equivalents		$ 114,104		$ 377,026	$ 206,355
Restricted cash and cash equivalents, current portion		2,075		10,668	1,798
Short-term investments		0		132,480
Accounts receivable, net	[1]	220,196		169,674
Contract assets		49,357		57,070
Loan receivables held for sale, net		11,947		0
Inventories		402,375		295,731
Advances to suppliers, current portion		4,645		12,059
Prepaid expenses and other current assets	[1]	228,874		197,811
Total current assets		1,033,573		1,252,519
Restricted cash and cash equivalents, net of current portion		19,679		18,812	24,776
Property, plant and equipment, net		95,785		76,473
Operating lease right-of-use assets		35,219		36,926
Solar power systems leased, net		39,767		41,779
Goodwill		125,998		125,998
Other intangible assets, net		20,682		24,192
Other long-term assets	[1]	185,999		186,927
Total assets		1,556,702		1,763,626
Current liabilities:
Accounts payable	[1]	227,386		243,139
Accrued liabilities	[1]	133,530		148,119
Operating lease liabilities, current portion		11,501		11,356
Contract liabilities, current portion	[1]	223,846		141,863
Short-term debt		48,054		82,240
Convertible debt, current portion	[1]	0		424,919
Total current liabilities		644,317		1,051,636
Long-term		305,709		308
Operating lease liabilities, net of current portion		26,873		29,347
Contract liabilities, net of current portion		11,057		11,588
Other long-term liabilities		112,771		114,702
Long-term liabilities of discontinued operations		0		0
Total liabilities		1,100,727		1,207,581
Commitments and contingencies (Note 9)
Equity:
Preferred stock		0		0
Common stock		175		174
Additional paid-in capital		2,847,884		2,855,930
Accumulated deficit		(2,171,628)		(2,085,784)
Accumulated other comprehensive income		11,586		11,568
Treasury stock, at cost		(232,940)		(226,646)
Total stockholders' equity		455,077		555,242
Noncontrolling interests in subsidiaries		898		803
Total equity		455,975	$ 479,728	556,045	407,463	$ 348,213	$ 383,603
Total liabilities and equity		1,556,702		1,763,626
Previously Reported
Current assets:
Cash and cash equivalents		114,104		377,026	206,355
Restricted cash and cash equivalents, current portion		1,233		9,855	1,024
Short-term investments		0		132,480
Accounts receivable, net		214,378		174,577
Contract assets		49,357		50,692
Loan receivables held for sale, net		12,917		0
Inventories		424,040		316,815
Advances to suppliers, current portion		1,895		9,309
Prepaid expenses and other current assets		228,283		197,760
Total current assets		1,046,207		1,268,514
Restricted cash and cash equivalents, net of current portion		15,937		15,151	21,270
Property, plant and equipment, net		95,715		74,522
Operating lease right-of-use assets		35,219		36,926
Solar power systems leased, net		39,767		41,779
Goodwill		126,338		126,338
Other intangible assets, net		20,682		24,192
Other long-term assets		193,912		192,585
Total assets		1,573,777		1,780,007
Current liabilities:
Accounts payable		229,008		242,229
Accrued liabilities		131,694		145,229
Operating lease liabilities, current portion		11,501		11,356
Contract liabilities, current portion		223,302		144,209
Short-term debt		42,285		82,404
Convertible debt, current portion		0		424,919
Total current liabilities		637,790		1,050,346
Long-term		305,709		308
Operating lease liabilities, net of current portion		26,873		29,347
Contract liabilities, net of current portion		11,024		11,555
Other long-term liabilities		114,705		112,797
Long-term liabilities of discontinued operations		0		0
Total liabilities		1,096,101		1,204,353
Commitments and contingencies (Note 9)
Equity:
Preferred stock		0		0
Common stock		175		174
Additional paid-in capital		2,847,884		2,855,930
Accumulated deficit		(2,149,927)		(2,066,175)
Accumulated other comprehensive income		11,586		11,568
Treasury stock, at cost		(232,940)		(226,646)
Total stockholders' equity		476,778		574,851
Noncontrolling interests in subsidiaries		898		803
Total equity		477,676		575,654			390,024
Total liabilities and equity		1,573,777		1,780,007
Restatement Adjustment
Current assets:
Cash and cash equivalents		0		0	0
Restricted cash and cash equivalents, current portion		842		813	774
Short-term investments		0		0
Accounts receivable, net		5,818		(4,903)
Contract assets		0		6,378
Loan receivables held for sale, net		(970)		0
Inventories		(21,665)		(21,084)
Advances to suppliers, current portion		2,750		2,750
Prepaid expenses and other current assets		591		51
Total current assets		(12,634)		(15,995)
Restricted cash and cash equivalents, net of current portion		3,742		3,661	$ 3,506
Property, plant and equipment, net		70		1,951
Operating lease right-of-use assets		0		0
Solar power systems leased, net		0		0
Goodwill		(340)		(340)
Other intangible assets, net		0		0
Other long-term assets		(7,913)		(5,658)
Total assets		(17,075)		(16,381)
Current liabilities:
Accounts payable		(1,622)		910
Accrued liabilities		1,836		2,890
Operating lease liabilities, current portion		0		0
Contract liabilities, current portion		544		(2,346)
Short-term debt		5,769		(164)
Convertible debt, current portion		0		0
Total current liabilities		6,527		1,290
Long-term		0		0
Operating lease liabilities, net of current portion		0		0
Contract liabilities, net of current portion		33		33
Other long-term liabilities		(1,934)		1,905
Long-term liabilities of discontinued operations		0		0
Total liabilities		4,626		3,228
Commitments and contingencies (Note 9)
Equity:
Preferred stock		0		0
Common stock		0		0
Additional paid-in capital		0		0
Accumulated deficit		(21,701)		(19,609)
Accumulated other comprehensive income		0		0
Treasury stock, at cost		0		0
Total stockholders' equity		(21,701)		(19,609)
Noncontrolling interests in subsidiaries		0		0
Total equity		(21,701)		(19,609)			$ (6,421)
Total liabilities and equity		$ (17,075)		$ (16,381)
[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,” “other long-term assets,” “accounts payable,” “accrued liabilities,” “convertible debt, current portion,” “contract liabilities, current portion,” and “other long-term liabilities” financial statement line items on our condensed consolidated balance sheets (see Note 3, Note 9, Note 10, and Note 12)

Restatement of Condensed Cons_5

Restatement of Condensed Consolidated Financial Statements - Statement of Operations (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands		3 Months Ended		6 Months Ended
		Jul. 02, 2023	Jul. 03, 2022	Jul. 02, 2023	Jul. 03, 2022
Income Statement [Abstract]
Total revenues	[1]	$ 463,360	$ 417,464	$ 897,627	$ 767,582
Total cost of revenues1		389,431	326,737	742,660	595,010
Gross profit		73,929	90,727	154,967	172,572
Operating expenses:
Research and development	[1]	6,508	7,182	13,755	12,353
Sales, general, and administrative	[1]	90,498	105,360	194,816	193,227
Restructuring charges (credits)		0	(494)	0	133
Expense (income) from transition services agreement, net	[1]	84	(494)	(140)	(228)
Total operating expenses		97,090	111,554	208,431	205,485
Operating (loss) income		(23,161)	(20,827)	(53,464)	(32,913)
Other (expense) income, net:
Interest income		329	92	1,160	134
Interest expense	[1]	(5,786)	(6,460)	(11,464)	(11,511)
Other, net		289	(14,652)	(10,694)	(13,208)
Other (expense) income, net		(5,168)	(21,020)	(20,998)	(24,585)
(Loss) income from continuing operations before income taxes and equity in earnings (losses) of unconsolidated investees		(28,329)	(41,847)	(74,462)	(57,498)
(Provision for) benefits from income taxes		(378)	793	(1,706)	8,922
Equity in earnings (losses) of unconsolidated investees		232	0	420	0
Net (loss) income from continuing operations		(28,475)	(41,054)	(75,748)	(48,576)
(Loss) income from discontinued operations before income taxes and equity in (losses) earnings of unconsolidated investees	[1]	(2,796)	(21,560)	(10,156)	(47,858)
Benefits from (provision for) income taxes from discontinued operations		77	107	155	440
Net (loss) income from discontinued operations		(2,719)	(21,453)	(10,001)	(47,418)
Net (loss) income		(31,194)	(62,507)	(85,749)	(95,994)
Net (income) loss from continuing operations attributable to noncontrolling interests		(14)	(785)	(95)	(446)
Net loss (income) from discontinued operations attributable to noncontrolling interests		0	0	0	250
Net (income) loss attributable to noncontrolling interests		(14)	(785)	(95)	(196)
Net (loss) income from continuing operations attributable to stockholders		(28,489)	(41,839)	(75,843)	(49,022)
Net (loss) income from discontinued operations attributable to stockholders		(2,719)	(21,453)	(10,001)	(47,168)
Net (loss) income attributable to stockholders		$ (31,208)	$ (63,292)	$ (85,844)	$ (96,190)
Net (loss) income per share attributable to stockholders - basic and diluted:
Continuing operations - basic (in dollars per share)		$ (0.16)	$ (0.24)	$ (0.43)	$ (0.28)
Discontinued operations - basic (in dollars per share)		(0.02)	(0.12)	(0.06)	(0.27)
Net income (loss) per share – basic (in dollars per share)		(0.18)	(0.36)	(0.49)	(0.55)
Net (loss) income per share attributable to stockholders - diluted:
Continuing operations - diluted (in dollars per share)		(0.16)	(0.24)	(0.43)	(0.28)
Discontinued operations - diluted (in dollars per share)		(0.02)	(0.12)	(0.06)	(0.27)
Net income (loss) per share – diluted (in dollars per share)		$ (0.18)	$ (0.36)	$ (0.49)	$ (0.55)
Weighted-average shares:
Basic (in shares)		175,042	173,951	174,785	173,664
Diluted (in shares)		175,042	173,951	174,785	173,664
Previously Reported
Income Statement [Abstract]
Total revenues		$ 463,851	$ 417,772	$ 904,729	$ 768,049
Total cost of revenues1		399,724	336,273	769,667	614,241
Gross profit		64,127	81,499	135,062	153,808
Operating expenses:
Research and development		6,508	7,405	13,755	12,415
Sales, general, and administrative		82,709	93,043	173,054	170,039
Restructuring charges (credits)		0	(494)	0	133
Expense (income) from transition services agreement, net		84	(494)	(140)	(228)
Total operating expenses		89,301	99,460	186,669	182,359
Operating (loss) income		(25,174)	(17,961)	(51,607)	(28,551)
Other (expense) income, net:
Interest income		329	92	1,160	134
Interest expense		(5,786)	(5,964)	(11,464)	(11,008)
Other, net		289	(14,652)	(10,694)	(13,208)
Other (expense) income, net		(5,168)	(20,524)	(20,998)	(24,082)
(Loss) income from continuing operations before income taxes and equity in earnings (losses) of unconsolidated investees		(30,342)	(38,485)	(72,605)	(52,633)
(Provision for) benefits from income taxes		(227)	(3,226)	(1,454)	8,417
Equity in earnings (losses) of unconsolidated investees		311	0	558	0
Net (loss) income from continuing operations		(30,258)	(41,711)	(73,501)	(44,216)
(Loss) income from discontinued operations before income taxes and equity in (losses) earnings of unconsolidated investees		(2,796)	(20,857)	(10,156)	(47,155)
Benefits from (provision for) income taxes from discontinued operations		0	241	0	584
Net (loss) income from discontinued operations		(2,796)	(20,616)	(10,156)	(46,571)
Net (loss) income		(33,054)	(62,327)	(83,657)	(90,787)
Net (income) loss from continuing operations attributable to noncontrolling interests		(14)	(785)	(95)	(446)
Net loss (income) from discontinued operations attributable to noncontrolling interests		0	0	0	250
Net (income) loss attributable to noncontrolling interests		(14)	(785)	(95)	(196)
Net (loss) income from continuing operations attributable to stockholders		(30,272)	(42,496)	(73,596)	(44,662)
Net (loss) income from discontinued operations attributable to stockholders		(2,796)	(20,616)	(10,156)	(46,321)
Net (loss) income attributable to stockholders		$ (33,068)	$ (63,112)	$ (83,752)	$ (90,983)
Net (loss) income per share attributable to stockholders - basic and diluted:
Continuing operations - basic (in dollars per share)		$ (0.17)	$ (0.24)	$ (0.42)	$ (0.26)
Discontinued operations - basic (in dollars per share)		(0.02)	(0.12)	(0.06)	(0.27)
Net income (loss) per share – basic (in dollars per share)		$ (0.19)	$ (0.36)	$ (0.48)	$ (0.53)
Weighted-average shares:
Basic (in shares)		175,042	173,951	174,785	173,664
Diluted (in shares)		175,042	173,951	174,785	173,664
Restatement Adjustment
Income Statement [Abstract]
Total revenues		$ (491)	$ (308)	$ (7,102)	$ (467)
Total cost of revenues1		(10,293)	(9,536)	(27,007)	(19,231)
Gross profit		9,802	9,228	19,905	18,764
Operating expenses:
Research and development		0	(223)	0	(62)
Sales, general, and administrative		7,789	12,317	21,762	23,188
Restructuring charges (credits)		0	0	0	0
Expense (income) from transition services agreement, net		0	0	0	0
Total operating expenses		7,789	12,094	21,762	23,126
Operating (loss) income		2,013	(2,866)	(1,857)	(4,362)
Other (expense) income, net:
Interest income		0	0	0	0
Interest expense		0	(496)	0	(503)
Other, net		0	0	0	0
Other (expense) income, net		0	(496)	0	(503)
(Loss) income from continuing operations before income taxes and equity in earnings (losses) of unconsolidated investees		2,013	(3,362)	(1,857)	(4,865)
(Provision for) benefits from income taxes		(151)	4,019	(252)	505
Equity in earnings (losses) of unconsolidated investees		(79)	0	(138)	0
Net (loss) income from continuing operations		1,783	657	(2,247)	(4,360)
(Loss) income from discontinued operations before income taxes and equity in (losses) earnings of unconsolidated investees		0	(703)	0	(703)
Benefits from (provision for) income taxes from discontinued operations		77	(134)	155	(144)
Net (loss) income from discontinued operations		77	(837)	155	(847)
Net (loss) income		1,860	(180)	(2,092)	(5,207)
Net (income) loss from continuing operations attributable to noncontrolling interests		0	0	0	0
Net loss (income) from discontinued operations attributable to noncontrolling interests		0	0	0	0
Net (income) loss attributable to noncontrolling interests		0	0	0	0
Net (loss) income from continuing operations attributable to stockholders		1,783	657	(2,247)	(4,360)
Net (loss) income from discontinued operations attributable to stockholders		77	(837)	155	(847)
Net (loss) income attributable to stockholders		$ 1,860	$ (180)	$ (2,092)	$ (5,207)
Net (loss) income per share attributable to stockholders - basic and diluted:
Continuing operations - basic (in dollars per share)		$ 0.01	$ 0	$ (0.01)	$ (0.02)
Discontinued operations - basic (in dollars per share)		0	0	0	0
Net income (loss) per share – basic (in dollars per share)		$ 0.01	$ 0	$ (0.01)	$ (0.02)
Weighted-average shares:
Basic (in shares)		0	0	0	0
Diluted (in shares)		0	0	0	0
[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 “total revenues,” “total cost of revenues,” “operating expenses: research and development,” “operating expenses: sales, general, and administrative,” “operating expenses: (income) expense from 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).

Restatement of Condensed Cons_6

Restatement of Condensed Consolidated Financial Statements - Statement of Cash Flows (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 02, 2023	Jul. 03, 2022	Jul. 02, 2023	Jul. 03, 2022	Jan. 01, 2023
Cash flows from operating activities:
Net (loss) income	$ (31,194)	$ (62,507)	$ (85,749)	$ (95,994)
Adjustments to reconcile net (loss) income to net cash used in operating activities:
Depreciation and amortization			23,212	15,523
Amortization of cloud computing arrangements			2,812	1,992
Stock-based compensation			15,536	12,499
Amortization of debt issuance costs			1,163	1,559
Equity in (earnings) losses of unconsolidated investees			(420)	0
(Gain) loss on equity investments			10,805	13,940
Unrealized (gain) loss on derivatives			(294)	504
Dividend from equity method investees			596	0
Loss (gain) on loan receivables held for sale			25	0
Deferred income taxes			(532)	(11,185)
Other, net			575	949
Changes in operating assets and liabilities:
Accounts receivable			(51,101)	(37,739)
Contract assets			7,713	6,053
Inventories			(106,644)	(8,860)
Project assets			0	295
Loan receivables held for sale			(11,972)	0
Prepaid expenses and other assets			(19,504)	(166,415)
Operating lease right-of-use assets			5,516	5,619
Advances to suppliers			7,414	(2,072)
Accounts payable and other accrued liabilities			(32,639)	42,900
Contract liabilities			81,452	66,319
Operating lease liabilities			(6,134)	(7,878)
Net cash (used in) provided by operating activities			(158,170)	(161,991)
Cash flows from investing activities:
Purchases of property, plant, and equipment			(26,283)	(23,997)
Investments in software development costs			(2,320)	(2,725)
Cash paid for working capital settlement related to C&I Solutions sale			(30,892)	0
Cash received from C&I Solutions sale, net of de-consolidated cash			0	146,303
Cash paid for equity investments under the Dealer Accelerator Program and other			(7,500)	(16,420)
Proceeds from sale of equity investment			121,675	149,830
Cash paid for investments in unconsolidated investees			(7,677)	(3,318)
Dividend from equity method investee, in excess of cumulative earnings			149	0
Net cash provided by (used in) investing activities			47,152	249,673
Cash flows from financing activities:
Proceeds from bank loans and other debt			439,101	100,276
Repayment of bank loans and other debt			(165,641)	(97,891)
Repayment of convertible debt			(424,991)	0
Payments for financing leases			(1,806)	(149)
Purchases of stock for tax withholding obligations on vested restricted stock			(6,293)	(9,588)
Net cash (used in) provided by financing activities			(159,630)	(7,352)
Net (decrease) increase in cash, cash equivalents, and restricted cash			(270,648)	80,330
Cash, cash equivalents, and restricted cash, beginning of period			406,506	152,599
Cash, cash equivalents, and restricted cash, end of period	135,858	232,929	135,858	232,929
Reconciliation of cash, cash equivalents, and restricted cash to the condensed consolidated balance sheets:
Cash and cash equivalents	114,104	206,355	114,104	206,355	$ 377,026
Restricted cash and cash equivalents, current portion	2,075	1,798	2,075	1,798	10,668
Restricted cash and cash equivalents, net of current portion	19,679	24,776	19,679	24,776	18,812
Total cash, cash equivalents, and restricted cash	135,858	232,929	135,858	232,929	406,506
Supplemental disclosure of non-cash activities:
Property, plant and equipment acquisitions funded by liabilities (including financing leases)			8,717	4,587
Right-of-use assets obtained in exchange for lease obligations	1,723	117	3,809	509
Net working capital settlement related to C&I Solutions sale			0	6,265
Supplemental cash flow disclosures:
Cash paid for interest			18,004	11,186
Cash paid for income taxes			1,236	2,500
Previously Reported
Cash flows from operating activities:
Net (loss) income	(33,054)	(62,327)	(83,657)	(90,787)
Adjustments to reconcile net (loss) income to net cash used in operating activities:
Depreciation and amortization			25,224	15,155
Amortization of cloud computing arrangements			2,678	1,893
Stock-based compensation			15,536	12,499
Amortization of debt issuance costs			1,163	1,559
Equity in (earnings) losses of unconsolidated investees			(558)	0
(Gain) loss on equity investments			10,805	13,940
Unrealized (gain) loss on derivatives			(294)	0
Dividend from equity method investees			596	0
Loss (gain) on loan receivables held for sale			2,163	0
Deferred income taxes			(532)	(11,196)
Other, net			575	949
Changes in operating assets and liabilities:
Accounts receivable			(40,380)	(37,939)
Contract assets			1,335	7,333
Inventories			(107,225)	(17,059)
Project assets			0	295
Loan receivables held for sale			(15,081)	0
Prepaid expenses and other assets			(24,841)	(169,798)
Operating lease right-of-use assets			5,516	5,432
Advances to suppliers			7,414	(2,072)
Accounts payable and other accrued liabilities			(25,213)	46,518
Contract liabilities			78,562	66,273
Operating lease liabilities			(6,134)	(7,572)
Net cash (used in) provided by operating activities			(152,348)	(164,577)
Cash flows from investing activities:
Purchases of property, plant, and equipment			(26,283)	(21,583)
Investments in software development costs			(2,320)	(2,725)
Cash paid for working capital settlement related to C&I Solutions sale			(30,892)	0
Cash received from C&I Solutions sale, net of de-consolidated cash			0	146,303
Cash paid for equity investments under the Dealer Accelerator Program and other			(7,500)	(16,420)
Proceeds from sale of equity investment			121,675	149,830
Cash paid for investments in unconsolidated investees			(7,677)	(3,318)
Dividend from equity method investee, in excess of cumulative earnings			149	0
Net cash provided by (used in) investing activities			47,152	252,087
Cash flows from financing activities:
Proceeds from bank loans and other debt			439,101	100,276
Repayment of bank loans and other debt			(171,573)	(98,044)
Repayment of convertible debt			(424,991)	0
Payments for financing leases			(1,806)	(118)
Purchases of stock for tax withholding obligations on vested restricted stock			(6,293)	(9,588)
Net cash (used in) provided by financing activities			(165,562)	(7,474)
Net (decrease) increase in cash, cash equivalents, and restricted cash			(270,758)	80,036
Cash, cash equivalents, and restricted cash, beginning of period			402,032	148,613
Cash, cash equivalents, and restricted cash, end of period	131,274	228,649	131,274	228,649
Reconciliation of cash, cash equivalents, and restricted cash to the condensed consolidated balance sheets:
Cash and cash equivalents	114,104	206,355	114,104	206,355	377,026
Restricted cash and cash equivalents, current portion	1,233	1,024	1,233	1,024	9,855
Restricted cash and cash equivalents, net of current portion	15,937	21,270	15,937	21,270	15,151
Total cash, cash equivalents, and restricted cash	131,274	228,649	131,274	228,649	402,032
Supplemental disclosure of non-cash activities:
Property, plant and equipment acquisitions funded by liabilities (including financing leases)			8,717	4,635
Right-of-use assets obtained in exchange for lease obligations			3,809	1,526
Net working capital settlement related to C&I Solutions sale			0	6,265
Supplemental cash flow disclosures:
Cash paid for interest			18,004	11,186
Cash paid for income taxes			1,236	2,500
Restatement Adjustment
Cash flows from operating activities:
Net (loss) income	1,860	(180)	(2,092)	(5,207)
Adjustments to reconcile net (loss) income to net cash used in operating activities:
Depreciation and amortization			(2,012)	368
Amortization of cloud computing arrangements			134	99
Stock-based compensation			0	0
Amortization of debt issuance costs			0	0
Equity in (earnings) losses of unconsolidated investees			138	0
(Gain) loss on equity investments			0	0
Unrealized (gain) loss on derivatives			0	504
Dividend from equity method investees			0	0
Loss (gain) on loan receivables held for sale			(2,138)	0
Deferred income taxes			0	11
Other, net			0	0
Changes in operating assets and liabilities:
Accounts receivable			(10,721)	200
Contract assets			6,378	(1,280)
Inventories			581	8,199
Project assets			0	0
Loan receivables held for sale			3,109	0
Prepaid expenses and other assets			5,337	3,383
Operating lease right-of-use assets			0	187
Advances to suppliers			0	0
Accounts payable and other accrued liabilities			(7,426)	(3,618)
Contract liabilities			2,890	46
Operating lease liabilities			0	(306)
Net cash (used in) provided by operating activities			(5,822)	2,586
Cash flows from investing activities:
Purchases of property, plant, and equipment			0	(2,414)
Investments in software development costs			0	0
Cash paid for working capital settlement related to C&I Solutions sale			0	0
Cash received from C&I Solutions sale, net of de-consolidated cash			0	0
Cash paid for equity investments under the Dealer Accelerator Program and other			0	0
Proceeds from sale of equity investment			0	0
Cash paid for investments in unconsolidated investees			0	0
Dividend from equity method investee, in excess of cumulative earnings			0	0
Net cash provided by (used in) investing activities			0	(2,414)
Cash flows from financing activities:
Proceeds from bank loans and other debt			0	0
Repayment of bank loans and other debt			5,932	153
Repayment of convertible debt			0	0
Payments for financing leases			0	(31)
Purchases of stock for tax withholding obligations on vested restricted stock			0	0
Net cash (used in) provided by financing activities			5,932	122
Net (decrease) increase in cash, cash equivalents, and restricted cash			110	294
Cash, cash equivalents, and restricted cash, beginning of period			4,474	3,986
Cash, cash equivalents, and restricted cash, end of period	4,584	4,280	4,584	4,280
Reconciliation of cash, cash equivalents, and restricted cash to the condensed consolidated balance sheets:
Cash and cash equivalents	0	0	0	0	0
Restricted cash and cash equivalents, current portion	842	774	842	774	813
Restricted cash and cash equivalents, net of current portion	3,742	3,506	3,742	3,506	3,661
Total cash, cash equivalents, and restricted cash	$ 4,584	$ 4,280	4,584	4,280	$ 4,474
Supplemental disclosure of non-cash activities:
Property, plant and equipment acquisitions funded by liabilities (including financing leases)			0	(48)
Right-of-use assets obtained in exchange for lease obligations			0	(1,017)
Net working capital settlement related to C&I Solutions sale			0	0
Supplemental cash flow disclosures:
Cash paid for interest			0	0
Cash paid for income taxes			$ 0	$ 0

Transactions With Total and T_3

Transactions With Total and Total Energies SE - Narrative (Details) $ / shares in Units, shares in Millions, $ in Billions	1 Months Ended		6 Months Ended
	Dec. 31, 2011 $ / shares shares	Jun. 30, 2011 USD ($) $ / shares	Jul. 02, 2023	Sep. 26, 2022 member	Sep. 12, 2022 director	Sep. 12, 2022 member	May 24, 2022
Clearway Energy Group
Related Party Transaction [Line Items]
Percentage of membership interests acquired in business acquisition							50%
Related Party
Related Party Transaction [Line Items]
Ownership after sale of stock, percentage			50.20%
Tender Offer Agreement | Related Party
Related Party Transaction [Line Items]
Ownership after sale of stock, percentage		60%
Consideration received in cash tender offer (in dollars per share)		$ 23.25
Cash tender offer | $		$ 1.4
Private Placement | Related Party
Related Party Transaction [Line Items]
Ownership after sale of stock, percentage	66%
Consideration received in cash tender offer (in dollars per share)	$ 8.80
Number of shares of common stock issued and sold (in shares) | shares	18.6
September Letter Agreement | Related Party
Related Party Transaction [Line Items]
Number of members appointed by GIP				2	2
September Letter Agreement | Related Party | Director
Related Party Transaction [Line Items]
Number of members appointed by GIP					5	2

Transactions With Total and T_4

Transactions With Total and Total Energies SE - Sale of C&I Solutions business to Total Energies (Details) - C&I Solutions - USD ($) $ in Millions			3 Months Ended	12 Months Ended
	Apr. 12, 2023	May 31, 2022	Apr. 02, 2023	Jan. 01, 2023	Feb. 06, 2022
Related Party Transaction [Line Items]
Payable recorded	$ 23.9		$ 30.9
Discontinued Operations
Related Party Transaction [Line Items]
Aggregate cash consideration					$ 190
Proceeds from divestiture of businesses		$ 149.2
Working capital adjustment				$ 7

Transactions With Total and T_5

Transactions With Total and Total Energies SE - Affiliation Agreement (Details)	6 Months Ended
	Jul. 02, 2023	Sep. 26, 2022 member	Sep. 23, 2022 member	Sep. 12, 2022 director	Sep. 12, 2022 member	Mar. 31, 2022 director member	Oct. 29, 2021 member director	Apr. 19, 2021 director member
Related Party
Related Party Transaction [Line Items]
Ownership after sale of stock, percentage	50.20%
Standstill Agreements | Related Party
Related Party Transaction [Line Items]
Ownership after sale of stock, percentage	15%
Percentage of voting interests	100%
Limitations on transfer of outstanding shares, percentage	0.40
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 | director								6
Number of board members not designated by total | director								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
September Letter Agreement
Related Party Transaction [Line Items]
Number of members resigned, designated by total			2
September Letter Agreement | Related Party
Related Party Transaction [Line Items]
Number of members appointed by GIP		2		2
September Letter Agreement | Related Party | Director
Related Party Transaction [Line Items]
Number of members appointed by GIP				5	2

Transactions With Total and T_6

Transactions With Total and Total Energies SE - 4.00% Debentures Due 2023 (Details) $ in Thousands		1 Months Ended
	Sep. 01, 2020	Dec. 31, 2015 USD ($)	Jul. 02, 2023 USD ($)	Jan. 17, 2023 USD ($)	Jan. 01, 2023 USD ($)
Related Party Transaction [Line Items]
Debt face amount			$ 359,211		$ 508,672
4.00% convertible debentures due 2023 | Convertible Debt
Related Party Transaction [Line Items]
Interest rate		4%
Debt face amount		$ 425,000
Conversion ratio	0.0401552	0.0327568
Interest payable				$ 8,500
4.00% convertible debentures due 2023 | Related Party | Convertible Debt
Related Party Transaction [Line Items]
Debt face amount		$ 100,000

Transactions With Total and T_7

Transactions With Total and Total Energies SE - Related-Party Transactions with Total and Its Affiliates (Details) - USD ($) $ in Thousands		3 Months Ended		6 Months Ended
		Jul. 02, 2023	Jul. 03, 2022	Jul. 02, 2023	Jul. 03, 2022	Jan. 01, 2023	Dec. 31, 2015
Related Party Transaction [Line Items]
Accounts receivable, net	[1]	$ 220,196		$ 220,196		$ 169,674
Prepaid expenses and other current assets	[1]	228,874		228,874		197,811
Other long-term assets	[1]	185,999		185,999		186,927
Accrued liabilities	[1]	133,530		133,530		148,119
Interest expense incurred on the 4.00% debentures due 2023	[2]	5,786	$ 6,460	11,464	$ 11,511
Total revenues	[2]	463,360	417,464	897,627	767,582
Total cost of revenues1		389,431	326,737	742,660	595,010
4.00% convertible debentures due 2023 | Convertible Debt
Related Party Transaction [Line Items]
Interest rate							4%
Related Party | Related-Party Transactions with Total and its Affiliates
Related Party Transaction [Line Items]
Accounts receivable, net		489		489		489
Prepaid expenses and other current assets		2,924		2,924		2,898
Other long-term assets		0		0		1,284
Accrued liabilities		158		158		$ 8,033
Interest expense incurred on the 4.00% debentures due 2023 | Related Party | Related-Party Transactions with Total and its Affiliates | 4.00% convertible debentures due 2023
Related Party Transaction [Line Items]
Interest expense incurred on the 4.00% debentures due 2023		0	1,000	171	2,000
(Income) expense from transition services agreement, net | Related Party | Related-Party Transactions with Total and its Affiliates
Related Party Transaction [Line Items]
(Income) expense from transition services agreement, net		$ 59	$ (518)	$ (190)	$ (518)
[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,” “other long-term assets,” “accounts payable,” “accrued liabilities,” “convertible debt, current portion,” “contract liabilities, current portion,” and “other long-term liabilities” financial statement line items on our condensed consolidated balance sheets (see Note 3, Note 9, Note 10, and Note 12)[2] 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 “total revenues,” “total cost of revenues,” “operating expenses: research and development,” “operating expenses: sales, general, and administrative,” “operating expenses: (income) expense from 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).

Revenue from Contracts with C_3

Revenue from Contracts with Customers - Disaggregation of Revenue (Details) - USD ($) $ in Thousands		3 Months Ended		6 Months Ended
		Jul. 02, 2023	Jul. 03, 2022	Jul. 02, 2023	Jul. 03, 2022
Disaggregation of Revenue [Line Items]
Total revenues	[1]	$ 463,360	$ 417,464	$ 897,627	$ 767,582
Solar power systems sales
Disaggregation of Revenue [Line Items]
Total revenues		369,579	319,986	711,484	591,471
Component sales
Disaggregation of Revenue [Line Items]
Total revenues		88,281	74,542	174,812	134,419
Light commercial sales
Disaggregation of Revenue [Line Items]
Total revenues		60	24,569	612	38,765
Services and other
Disaggregation of Revenue [Line Items]
Total revenues		$ 5,440	$ (1,633)	$ 10,719	$ 2,927
[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 “total revenues,” “total cost of revenues,” “operating expenses: research and development,” “operating expenses: sales, general, and administrative,” “operating expenses: (income) expense from 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).

Revenue from Contracts with C_4

Revenue from Contracts with Customers - Contract Assets and Liabilities (Details) - USD ($) $ in Thousands	Jul. 02, 2023	Jan. 01, 2023
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Contract assets	$ 49,666	$ 57,379
Contract liabilities	234,903	153,451
Indemnifications Retained	$ 1,100	$ 1,100

Revenue from Contracts with C_5

Revenue from Contracts with Customers - Contract Assets and Liabilities Narrative (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jul. 02, 2023	Jul. 03, 2022	Jul. 02, 2023	Jul. 03, 2022
Disaggregation of Revenue [Line Items]
Revenue recognized	$ 82.1	$ 40	$ 91.4	$ 37.9
Solar power systems and components
Disaggregation of Revenue [Line Items]
Revenue, remaining performance obligation, amount	$ 755.4		$ 755.4
Modules and components | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-04-03
Disaggregation of Revenue [Line Items]
Expected timing of satisfaction, period	12 months		12 months

Balance Sheet Components - Acco

Balance Sheet Components - Accounts Receivable, Net (Details) - USD ($) $ in Thousands	Jul. 02, 2023	Jan. 01, 2023
Balance Sheet Related Disclosures [Abstract]
Accounts receivable, gross	$ 234,233	$ 184,733
Less: allowance for credit losses	(13,871)	(14,750)
Less: allowance for sales returns	(166)	(309)
Accounts receivable, net	$ 220,196	$ 169,674

Balance Sheet Components - Allo

Balance Sheet Components - Allowance for Credit Losses (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 02, 2023	Jul. 03, 2022	Jul. 02, 2023	Jul. 03, 2022
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Balance at beginning of period	$ 13,596	$ 15,181	$ 14,750	$ 14,375
Provision for credit losses	865	628	1,307	1,928
Write-offs	(590)	(150)	(2,186)	(644)
Balance at end of period	$ 13,871	$ 15,659	$ 13,871	$ 15,659

Balance Sheet Components - Inve

Balance Sheet Components - Inventories (Details) - USD ($) $ in Thousands	Jul. 02, 2023	Jan. 01, 2023
Balance Sheet Related Disclosures [Abstract]
Photovoltaic modules	$ 222,145	$ 136,006
Microinverters	68,832	48,645
Energy storage systems	58,753	62,861
Other solar power system component materials	52,645	48,219
Inventories	$ 402,375	$ 295,731

Balance Sheet Components - Prep

Balance Sheet Components - Prepaid Expenses and Other Current Assets (Details) - USD ($) $ in Thousands		Jul. 02, 2023	Jan. 01, 2023
Related Party Transaction [Line Items]
Deferred project costs		$ 101,224	$ 125,604
Deferred costs for solar power systems		86,637	34,124
Derivative assets		80	0
Other		30,814	34,124
Prepaid expenses and other current assets	[1]	228,874	197,811
Related Party
Related Party Transaction [Line Items]
Receivables		$ 10,119	$ 3,959
[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,” “other long-term assets,” “accounts payable,” “accrued liabilities,” “convertible debt, current portion,” “contract liabilities, current portion,” and “other long-term liabilities” financial statement line items on our condensed consolidated balance sheets (see Note 3, Note 9, Note 10, and Note 12)

Balance Sheet Components - Prop

Balance Sheet Components - Property, Plant and Equipment, Net (Details) - USD ($)	3 Months Ended		6 Months Ended		12 Months Ended
	Jul. 02, 2023	Jul. 03, 2022	Jul. 02, 2023	Jul. 03, 2022	Jan. 01, 2023
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 179,876,000		$ 179,876,000		$ 144,579,000
Vehicle finance leases	20,402,000		20,402,000		12,316,000
Less: accumulated depreciation and impairment	(84,091,000)		(84,091,000)		(68,106,000)
Property, plant and equipment, net	95,785,000		95,785,000		76,473,000
Property, plant and equipment, retired			200,000		100,000
Gain (loss) on disposal			0		0
Testing equipment and tools
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	1,804,000		1,804,000		1,157,000
Leasehold improvements
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	17,201,000		17,201,000		16,960,000
Solar power systems
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	11,100,000		11,100,000		10,271,000
Computer equipment
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	15,576,000		15,576,000		14,411,000
Internal-use software
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	92,939,000		92,939,000		71,477,000
Furniture and fixtures
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	8,105,000		8,105,000		8,088,000
Transportation equipment
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	5,160,000		5,160,000		3,941,000
Work-in-progress
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	7,589,000		7,589,000		$ 5,958,000
Asset Retirement Obligations
Property, Plant and Equipment [Line Items]
Depreciation and amortization	$ 9,500,000	$ 4,400,000	$ 19,100,000	$ 7,900,000

Balance Sheet Components - Othe

Balance Sheet Components - Other Long-term Assets (Details) $ in Thousands		3 Months Ended		6 Months Ended
		Jul. 02, 2023 USD ($) score	Jul. 03, 2022 USD ($)	Jul. 02, 2023 USD ($) score	Jul. 03, 2022 USD ($)	Jan. 01, 2023 USD ($)
Related Party Transaction [Line Items]
Equity investments without readily determinable fair value		$ 38,990		$ 38,990		$ 31,699
Equity investments with fair value option (“FVO”)		26,023		26,023		18,346
Cloud computing arrangements implementation costs, net of current portion		4,131		4,131		7,934
Retail installment contract receivables, net of current portion		91,203		91,203		98,001
Long-term deferred project costs		2,925		2,925		3,109
Derivative assets		2,507		2,507		2,293
Debt issuance costs		0		0		3,556
Loan receivables held for sale, net		1,057		1,057		0
Other		12,614		12,614		14,660
Other long-term assets	[1]	185,999		185,999		186,927
Capitalized computer software, amortization		1,100	$ 1,500	2,800	$ 2,000
Retail installment contract receivables, significant financing component		21,800		21,800		22,500
Retail installment contract receivables, allowance for credit loss		$ 700		$ 700		400
FICO Score, Greater than 700
Related Party Transaction [Line Items]
FICO score | score		750		750
FICO Score, 600 to 699
Related Party Transaction [Line Items]
FICO score | score		600		600
Related Party
Related Party Transaction [Line Items]
Deposits with related parties		$ 6,549		$ 6,549		$ 7,329
[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,” “other long-term assets,” “accounts payable,” “accrued liabilities,” “convertible debt, current portion,” “contract liabilities, current portion,” and “other long-term liabilities” financial statement line items on our condensed consolidated balance sheets (see Note 3, Note 9, Note 10, and Note 12)

Balance Sheet Components - Accr

Balance Sheet Components - Accrued Liabilities (Details) - USD ($) $ in Thousands	Jul. 02, 2023	Jan. 01, 2023
Balance Sheet Related Disclosures [Abstract]
Employee compensation and employee benefits	$ 18,959	$ 36,452
Interest payable	595	8,549
Short-term warranty reserves	33,658	29,677
Legal expenses	4,857	2,681
Taxes payable	8,725	9,641
Payable to related parties	7,887	11,239
Short-term finance lease liabilities	4,724	2,949
Indemnification Obligation From Sale of Business	23,544	20,781
Short-term asset retirement obligation liability	1,525	1,396
Other	29,056	24,754
Accrued liabilities	133,530	148,119
Warranty Reserves	22,500	13,500
Other Legal Indemnifications	$ 1,000	$ 7,300

Balance Sheet Components - Ot_2

Balance Sheet Components - Other Long-term Liabilities (Details) - USD ($) $ in Thousands	Jul. 02, 2023	Jan. 01, 2023
Related Party Transaction [Line Items]
Deferred revenue	$ 33,642	$ 35,864
Long-term warranty reserves	19,674	23,931
Unrecognized tax benefits	12,939	12,295
Long-term finance lease liabilities	12,376	7,878
Indemnification Obligation From Sale of Business	10,946	11,385
Long-term asset retirement obligation liability	2,599	2,395
Other	19,137	19,496
Other long-term liabilities	112,771	114,702
Warranty Reserves, Noncurrent	7,200	7,600
Other Legal Indemnifications, Noncurrent	3,700	3,800
Related Party
Related Party Transaction [Line Items]
Related-party liabilities	$ 1,458	$ 1,458

Balance Sheet Components - Accu

Balance Sheet Components - Accumulated Other Comprehensive Income (Details) - USD ($) $ in Thousands	Jul. 02, 2023	Jan. 01, 2023
Balance Sheet Related Disclosures [Abstract]
Cumulative translation adjustment	$ 9,594	$ 9,576
Net gain on long-term pension liability obligation	1,992	1,992
Accumulated other comprehensive income	$ 11,586	$ 11,568

Loan Receivables Held For Sal_2

Loan Receivables Held For Sale - Summary of Loan Receivables (Details) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Jul. 02, 2023	Jul. 02, 2023
Financing Receivable, Held-for-Sale, Not Part of Disposal Group, after Valuation Allowance, Reconciliation to Cash Flow [Roll Forward]
Balance at beginning of period		$ 0
Additions		42,958
Proceeds from sales		(31,352)
(Loss) gain on sale		366
(Increase) decrease in valuation allowance		(25)
Balance at end of period	$ 11,947	11,947
Transaction costs capitalized	5,400	5,400
Gain on loan receivables held-for-sale that were transferred and derecognized	400	400
Unrealized loss from contracts sold	$ (100)	$ (100)

Goodwill and Intangible Asset_2

Goodwill and Intangible Assets - Narrative (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jul. 02, 2023	Jul. 03, 2022	Jul. 02, 2023	Jul. 03, 2022	Oct. 04, 2021
Finite-Lived Intangible Assets [Line Items]
Goodwill impairment loss			$ 0
Amortization of intangible assets	$ 3,200,000	$ 1,600,000	5,800,000	$ 3,200,000
Impairment loss for intangible assets	$ 0	$ 0	$ 0	$ 0
Albatross Software LLC
Finite-Lived Intangible Assets [Line Items]
Percentage of membership interests acquired in business acquisition					35%

Goodwill and Intangible Asset_3

Goodwill and Intangible Assets - Schedule of Other Intangible Assets (Details) - USD ($) $ in Thousands	Jul. 02, 2023	Jan. 01, 2023
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 34,411	$ 32,150
Accumulated Amortization	(13,729)	(7,958)
Net Book Value	20,682	24,192
Developed technology
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	3,700	3,700
Accumulated Amortization	(2,158)	(1,542)
Net Book Value	1,542	2,158
Brand
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	15,800	15,800
Accumulated Amortization	(6,913)	(4,937)
Net Book Value	8,887	10,863
Non-compete agreements
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	3,400	3,400
Accumulated Amortization	(1,983)	(1,417)
Net Book Value	1,417	1,983
Software development costs
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	11,511	9,250
Accumulated Amortization	(2,675)	(62)
Net Book Value	$ 8,836	$ 9,188

Goodwill and Intangible Asset_4

Goodwill and Intangible Assets - Schedule of Future Amortization Expense (Details) $ in Thousands	Jul. 02, 2023 USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
2023 (remaining six months)	$ 6,362
2024	10,094
2025	4,226
Total	$ 20,682

Fair Value Measurements - Summa

Fair Value Measurements - Summary of Assets and Liabilities Measured and Recorded at Fair Value on a Recurring Basis (Details) - USD ($) $ in Thousands	Jul. 02, 2023	Jan. 01, 2023
Assets
Loan receivables held for sale, net	$ 1,057	$ 0
Interest rate swaps	80	0
Equity investments with readily determinable fair value	0	132,480
Interest rate swaps	2,507	2,293
Money Market Funds
Assets
Money market funds	45,000
Fair Value, Recurring | Reported Value Measurement
Assets
Loan receivables held for sale, net	11,947
Total assets	85,557	450,593
Fair Value, Recurring | Estimate of Fair Value Measurement
Assets
Loan receivables held for sale, net	12,917
Total assets	86,527	450,593
Fair Value, Recurring | Equity Investments With FVO | Reported Value Measurement
Assets
Equity investments with FVO	26,023	18,346
Fair Value, Recurring | Equity Investments With FVO | Estimate of Fair Value Measurement
Assets
Equity investments with FVO	26,023	18,346
Fair Value, Recurring | Equity Investments With Readily Determinable Fair Value | Reported Value Measurement
Assets
Equity investments with readily determinable fair value	0	132,480
Fair Value, Recurring | Equity Investments With Readily Determinable Fair Value | Estimate of Fair Value Measurement
Assets
Equity investments with readily determinable fair value	0	132,480
Fair Value, Recurring | Interest rate swap | Reported Value Measurement
Assets
Interest rate swaps	80
Interest rate swaps	2,507	2,293
Fair Value, Recurring | Interest rate swap | Estimate of Fair Value Measurement
Assets
Interest rate swaps	80
Interest rate swaps	2,507	2,293
Fair Value, Recurring | Money Market Funds | Reported Value Measurement
Assets
Money market funds	45,000	297,474
Fair Value, Recurring | Money Market Funds | Estimate of Fair Value Measurement
Assets
Money market funds	45,000	297,474
Level 3 | Fair Value, Recurring | Estimate of Fair Value Measurement
Assets
Loan receivables held for sale, net	0
Total assets	26,023	18,346
Level 3 | Fair Value, Recurring | Equity Investments With FVO | Estimate of Fair Value Measurement
Assets
Equity investments with FVO	26,023	18,346
Level 3 | Fair Value, Recurring | Equity Investments With Readily Determinable Fair Value | Estimate of Fair Value Measurement
Assets
Equity investments with readily determinable fair value	0	0
Level 3 | Fair Value, Recurring | Interest rate swap | Estimate of Fair Value Measurement
Assets
Interest rate swaps	0
Interest rate swaps	0	0
Level 3 | Fair Value, Recurring | Money Market Funds | Estimate of Fair Value Measurement
Assets
Money market funds	0	0
Level 2 | Fair Value, Recurring | Estimate of Fair Value Measurement
Assets
Loan receivables held for sale, net	12,917
Total assets	15,504	2,293
Level 2 | Fair Value, Recurring | Equity Investments With FVO | Estimate of Fair Value Measurement
Assets
Equity investments with FVO	0	0
Level 2 | Fair Value, Recurring | Equity Investments With Readily Determinable Fair Value | Estimate of Fair Value Measurement
Assets
Equity investments with readily determinable fair value	0	0
Level 2 | Fair Value, Recurring | Interest rate swap | Estimate of Fair Value Measurement
Assets
Interest rate swaps	80
Interest rate swaps	2,507	2,293
Level 2 | Fair Value, Recurring | Money Market Funds | Estimate of Fair Value Measurement
Assets
Money market funds	0	0
Level 1 | Fair Value, Recurring | Estimate of Fair Value Measurement
Assets
Loan receivables held for sale, net	0
Total assets	45,000	429,954
Level 1 | Fair Value, Recurring | Equity Investments With FVO | Estimate of Fair Value Measurement
Assets
Equity investments with FVO	0	0
Level 1 | Fair Value, Recurring | Equity Investments With Readily Determinable Fair Value | Estimate of Fair Value Measurement
Assets
Equity investments with readily determinable fair value	0	132,480
Level 1 | Fair Value, Recurring | Interest rate swap | Estimate of Fair Value Measurement
Assets
Interest rate swaps	0
Interest rate swaps	0	0
Level 1 | Fair Value, Recurring | Money Market Funds | Estimate of Fair Value Measurement
Assets
Money market funds	$ 45,000	$ 297,474

Fair Value Measurements - Equit

Fair Value Measurements - Equity Method Investments Activity (Details) - Equity investments with FVO $ in Thousands	6 Months Ended
	Jul. 02, 2023 USD ($)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance as of January 1, 2023	$ 18,346
Equity Distribution	0
Additional Investment	7,677
Other adjustment	0
Ending balance as of July 2, 2023	$ 26,023

Fair Value Measurements - Level

Fair Value Measurements - Level 3 Significant Unobservable Input Sensitivity (Details) - Equity investments with FVO - Level 3 $ in Thousands	Jul. 02, 2023 USD ($)
Discounted cash flows
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Total assets	$ 26,023
Measurement Input, Default Rate | Discounted cash flows
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input	0.127
Measurement Input, Default Rate | Valuation Technique, Residual
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input	0.082
Measurement Input, Default Rate | Minimum | Discounted cash flows
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input	0.125
Measurement Input, Default Rate | Minimum | Valuation Technique, Residual
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input	0.063
Measurement Input, Default Rate | Maximum | Discounted cash flows
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input	0.13
Measurement Input, Default Rate | Maximum | Valuation Technique, Residual
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input	0.129

Fair Value Measurements - Narra

Fair Value Measurements - Narrative (Details) - USD ($) $ in Millions		3 Months Ended	6 Months Ended
	Aug. 09, 2018	Jul. 02, 2023	Jul. 02, 2023	Jul. 03, 2022
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Unrealized gain (loss) on investments			$ (10.8)	$ 1.3
Derivative Asset, Current, Statement of Financial Position [Extensible Enumeration]		Other long-term assets	Other long-term assets
Derivative Liability, Current, Statement of Financial Position [Extensible Enumeration]		Increase (decrease) in prepaid expenses and other current assets	Increase (decrease) in prepaid expenses and other current assets
Interest Expense
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]		Interest expense incurred on the 4.00% debentures due 2023	Interest expense incurred on the 4.00% debentures due 2023
Total Revenues
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]		Total revenues	Total revenues
Money Market Funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Money market funds		$ 45	$ 45
Interest rate swap
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets			2.5
Gain (loss) on derivative				$ (0.5)
Derivative liabilities			0.1
Interest rate swap | Interest Expense
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Gain (loss) on derivative		1.1	0.2
Interest rate swap | Total Revenues
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Gain (loss) on derivative		2.5	0.1
Interest rate swap | Derivatives not designated as hedging instruments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset, notional amount		67.9	67.9
Derivative liability, notional amount		118	118
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Retail installment contract receivables, net of current portion		77.5	77.5
Accounts receivable
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Retail installment contract receivables, net of current portion		$ 104.1	$ 104.1
Enphase Energy, Inc.
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment shares sold (in shares)			500,000	1,000,000
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			$ 121.7	$ 149.8

Commitments and Contingencies -

Commitments and Contingencies - Facility and Equipment Leases (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 02, 2023	Jul. 03, 2022	Jul. 02, 2023	Jul. 03, 2022	Jan. 01, 2023
Commitments and Contingencies Disclosure [Abstract]
Operating lease expense	$ 3,661	$ 3,364	$ 7,282	$ 6,580
Finance lease expense:
Amortization expense	1,031	138	1,806	149
Interest expense on lease liabilities	274	15	463	31
Sublease income	(295)	(104)	(1,041)	(191)
Total	4,671	3,413	8,510	6,569
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows for operating leases	4,151	5,021	7,900	8,839
Operating cash flows for finance leases	274	15	463	31
Financing cash flows for finance leases	1,031	138	1,806	149
Right-of-use assets and property, plant, and equipment obtained in exchange for leases:
Operating leases	1,723	117	3,809	509
Finance leases	$ 5,689	$ 3,277	$ 8,124	$ 4,188
Weighted-average remaining lease term (in years):
Operating leases	3 years 6 months		3 years 6 months		3 years 8 months 12 days
Finance leases	3 years 4 months 24 days		3 years 4 months 24 days		3 years 4 months 24 days
Weighted-average discount rate:
Operating leases	7.80%		7.80%		8%
Finance leases	7%		7%		7%

Commitments and Contingencies_2

Commitments and Contingencies - Future Maturities (Details) $ in Thousands	Jul. 02, 2023 USD ($)
Operating Leases
2023 (remaining six months)	$ 7,212
2024	13,121
2025	9,422
2026	7,799
2027	4,906
Thereafter	2,091
Total lease payments	44,551
Less: imputed interest	(6,177)
Total	38,374
Finance Leases
2023 (remaining six months)	2,872
2024	5,653
2025	5,490
2026	3,999
2027	1,069
Thereafter	61
Total lease payments	19,144
Less: imputed interest	(2,044)
Total	$ 17,100

Commitments and Contingencies_3

Commitments and Contingencies - Purchase Commitment (Details) $ in Thousands	Jul. 02, 2023 USD ($)
Future purchase obligations
Fiscal 2023 (remaining six months)	$ 134,002
Fiscal 2024	184,926
Fiscal 2025	159,929
Fiscal 2026	778
Fiscal 2027	784
Thereafter	3,745
Total	$ 484,164

Commitments and Contingencies_4

Commitments and Contingencies - Purchase Commitment - Narrative (Details)	Aug. 26, 2020 vendor
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		6 Months Ended
	Jul. 02, 2023	Jul. 03, 2022	Jul. 02, 2023	Jul. 03, 2022
Movement in Standard and Extended Product Warranty Accrual, Increase (Decrease) [Roll Forward]
Balance at the beginning of the period	$ 80,502	$ 76,506	$ 74,751	$ 80,592
Accruals for warranties issued during the period	10,188	3,570	21,017	4,326
Settlements and adjustments during the period	(7,589)	(4,263)	(12,667)	(9,105)
Balance at the end of the period	83,101	$ 75,813	83,101	$ 75,813
Additional warranty expense	$ 1,900		$ 8,700

Commitments and Contingencies_6

Commitments and Contingencies - Liabilities Associated with Uncertain Tax Positions - Narrative (Details) - USD ($) $ in Millions	Jul. 02, 2023	Jan. 01, 2023
Commitments and Contingencies Disclosure [Abstract]
Unrecognized tax benefits	$ 12.9	$ 12.3

Commitments and Contingencies_7

Commitments and Contingencies - Indemnifications - Narrative (Details) - USD ($) $ in Thousands	Jul. 02, 2023	Apr. 02, 2023	Jan. 01, 2023	Jul. 03, 2022	Apr. 03, 2022	Jan. 02, 2022
Other Commitments [Line Items]
Income tax contingencies	$ 8,200		$ 8,200
Estimated litigation liability	2,900
Accrued warranty reserve	83,101	$ 80,502	74,751	$ 75,813	$ 76,506	$ 80,592
Disposal Group, Including Discontinued Operation, Liabilities, Noncurrent
Other Commitments [Line Items]
Income tax contingencies	4,900		$ 4,900
Discontinued Operations | C&I Solutions | Disposal Group, Including Discontinued Operation, Liabilities, Noncurrent
Other Commitments [Line Items]
Accrued warranty reserve	$ 29,800

Equity Investments - Equity Met

Equity Investments - Equity Method Investments (Details) $ in Thousands	3 Months Ended	6 Months Ended	12 Months Ended
	Jul. 02, 2023 USD ($)	Jul. 02, 2023 USD ($)	Jan. 01, 2023 USD ($) investment	Apr. 30, 2023
Schedule of Equity Method Investments [Line Items]
Equity investments with readily determinable fair value	$ 0	$ 0	$ 132,480
Equity investments without readily determinable fair value	38,990	38,990	31,699
Equity investments with fair value option (“FVO”)	26,023	26,023	18,346
Total equity investments	65,013	65,013	$ 182,525
Number of equity investments entered into | investment			4
Proceeds from dividend	200	700
Enphase Energy, Inc.
Schedule of Equity Method Investments [Line Items]
Equity investments with readily determinable fair value	0	0	$ 132,480
OhmConnect investment
Schedule of Equity Method Investments [Line Items]
Equity investments without readily determinable fair value	5,000	5,000	5,000
Equity method investments under the Dealer Accelerator Program
Schedule of Equity Method Investments [Line Items]
Equity investments without readily determinable fair value	33,710	33,710	26,419
Earnings from equity method investment	200	400
Other equity investments without readily determinable fair value
Schedule of Equity Method Investments [Line Items]
Equity investments without readily determinable fair value	280	280	280
SunStrong Capital Holdings, LLC
Schedule of Equity Method Investments [Line Items]
Equity investments with fair value option (“FVO”)	10,431	10,431	9,871
Dorado Development Partners, LLC
Schedule of Equity Method Investments [Line Items]
Equity investments with fair value option (“FVO”)	15,289	15,289	8,173
SunStrong Partners, LLC
Schedule of Equity Method Investments [Line Items]
Equity investments with fair value option (“FVO”)	303	303	302
Total equity investment with FVO
Schedule of Equity Method Investments [Line Items]
Equity investments with fair value option (“FVO”)	$ 26,023	$ 26,023	$ 18,346
Sea Bright Solar, Inc.
Schedule of Equity Method Investments [Line Items]
Ownership percentage			20%
Freedom Solar Holdings, LLC
Schedule of Equity Method Investments [Line Items]
Ownership percentage			4.50%
EmPower CES, LLC
Schedule of Equity Method Investments [Line Items]
Ownership percentage			20%
Renova Energy Group
Schedule of Equity Method Investments [Line Items]
Ownership percentage			10.60%
Wolf River Electric LLC
Schedule of Equity Method Investments [Line Items]
Ownership percentage				16.70%

Equity Investments - Unconsolid

Equity Investments - Unconsolidated VIEs (Details) - USD ($) $ in Thousands	1 Months Ended		3 Months Ended	6 Months Ended
	Apr. 30, 2023	Mar. 31, 2022	Jul. 02, 2023	Jul. 02, 2023	Jul. 03, 2022
Schedule of Equity Method Investments [Line Items]
Cash paid for equity investment				$ 7,500	$ 16,420
Dorado DevCo
Schedule of Equity Method Investments [Line Items]
Ownership percentage		50%
Dorado DevCo | Variable Interest Entity, Not Primary Beneficiary
Schedule of Equity Method Investments [Line Items]
Capital contribution in equity method investee, maximum amount		$ 15,100
Dorado DevCo | Variable Interest Entity, Not Primary Beneficiary, SunPower
Schedule of Equity Method Investments [Line Items]
Ownership percentage	51%
Dorado DevCo | Variable Interest Entity, Not Primary Beneficiary, Hannon Armstrong
Schedule of Equity Method Investments [Line Items]
Ownership percentage	49%
SunStrong
Schedule of Equity Method Investments [Line Items]
Cash paid for equity investment			$ 5,700	7,100
SunStrong | Variable Interest Entity, Not Primary Beneficiary, SunPower and Hannon Armstrong
Schedule of Equity Method Investments [Line Items]
Capital contribution in equity method investee, maximum amount	$ 24,200
Raven Loan Partners
Schedule of Equity Method Investments [Line Items]
Cash paid for equity investment			$ 600	$ 600

Equity Investments - Summarized

Equity Investments - Summarized Financial Information of Unconsolidated VIEs (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 02, 2023	Jul. 03, 2022	Jul. 02, 2023	Jul. 03, 2022	Jan. 01, 2023
Schedule of Investments [Line Items]
Net (loss) income	$ 14	$ 785	$ 95	$ 196
Net (loss) income attributable to parents	(31,208)	(63,292)	(85,844)	(96,190)
Current assets	1,033,573		1,033,573		$ 1,252,519
Current liabilities	644,317		644,317		1,051,636
SunStrong Capital Holdings, LLC | Variable Interest Entity, Not Primary Beneficiary
Schedule of Investments [Line Items]
Revenues	38,186	36,004	77,159	72,160
Net (loss) income	(8,877)	(6,150)	(10,687)	(7,124)
Net (loss) income attributable to parents	(2,560)	$ 7,029	(23)	$ 8,782
Current assets	93,589		93,589		88,561
Long-term assets	1,972,218		1,972,218		1,823,437
Current liabilities	69,970		69,970		94,414
Long-term liabilities	$ 1,482,940		$ 1,482,940		$ 1,378,462

Equity Investments - Related Pa

Equity Investments - Related Party Transactions with Investees (Details) - USD ($) $ in Thousands		3 Months Ended		6 Months Ended
		Jul. 02, 2023	Jul. 03, 2022	Jul. 02, 2023	Jul. 03, 2022	Jan. 01, 2023
Schedule of Equity Method Investments [Line Items]
Accounts receivable, net	[1]	$ 220,196		$ 220,196		$ 169,674
Loan receivables held for sale, net		11,947		11,947		0
Prepaid expenses and other current assets	[1]	228,874		228,874		197,811
Other long-term assets	[1]	185,999		185,999		186,927
Accrued liabilities	[1]	133,530		133,530		148,119
Contract liabilities		234,903		234,903		153,451
Investee
Schedule of Equity Method Investments [Line Items]
Accounts receivable, net		29,538		29,538		33,864
Loan receivables held for sale, net		12,917		12,917		0
Prepaid expenses and other current assets		4,171		4,171		3,959
Other long-term assets		6,549		6,549		6,549
Accounts payable		742		742		165
Accrued liabilities		2,162		2,162		97
Contract liabilities		157,803		157,803		$ 63,504
Revenues and fees received from investees for products/services		$ 117,453	$ 50,739	$ 202,744	$ 92,861
[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,” “other long-term assets,” “accounts payable,” “accrued liabilities,” “convertible debt, current portion,” “contract liabilities, current portion,” and “other long-term liabilities” financial statement line items on our condensed consolidated balance sheets (see Note 3, Note 9, Note 10, and Note 12)

Equity Investments - Consolidat

Equity Investments - Consolidated VIEs (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 02, 2023	Jul. 03, 2022	Jul. 02, 2023	Jul. 03, 2022	Jan. 01, 2023
Variable Interest Entity [Line Items]
Total assets	$ 1,556,702		$ 1,556,702		$ 1,763,626
Variable Interest Entity, Primary Beneficiary | Solar Sail
Variable Interest Entity [Line Items]
Revenues	2,400	$ 3,900	6,600	$ 8,200
Total assets	$ 22,900		$ 22,900

Debt and Credit Sources - Sched

Debt and Credit Sources - Schedule of Debt (Details) - USD ($) $ in Thousands	Jan. 17, 2023	Jul. 02, 2023	Jan. 01, 2023	Dec. 31, 2015
Debt Instrument [Line Items]
Face Value		$ 359,211	$ 508,672
Short-term		48,054	507,159
Long-term		305,709	308
Total		353,763	507,467
Total recourse debt
Debt Instrument [Line Items]
Face Value		291,442	436,724
Short-term		47,989	436,652
Long-term		239,409	0
Total		287,398	436,652
Total non-recourse debt
Debt Instrument [Line Items]
Face Value		67,769	71,948
Short-term		65	70,507
Long-term		66,300	308
Total		66,365	70,815
Revolver and Term Loan Facility | Total recourse debt
Debt Instrument [Line Items]
Face Value		277,500	0
Short-term		34,047	0
Long-term		239,409	0
Total		273,456	0
Credit Suisse Warehouse Loan | Total non-recourse debt
Debt Instrument [Line Items]
Face Value		67,417	71,577
Short-term		0	70,443
Long-term		66,020	0
Total		66,020	70,443
Other debt | Total recourse debt
Debt Instrument [Line Items]
Face Value		13,942	11,733
Short-term		13,942	11,733
Long-term		0	0
Total		13,942	11,733
Other debt | Total non-recourse debt
Debt Instrument [Line Items]
Face Value		352	371
Short-term		65	64
Long-term		280	308
Total		345	372
Convertible Debt | 4.00% convertible debentures due 2023
Debt Instrument [Line Items]
Interest rate				4%
Face Value				$ 425,000
Repayments of debt	$ 425,000
Convertible Debt | 4.00% convertible debentures due 2023 | Total recourse debt
Debt Instrument [Line Items]
Face Value		0	424,991
Short-term		0	424,919
Long-term		0	0
Total		$ 0	$ 424,919

Debt and Credit Sources - Sch_2

Debt and Credit Sources - Schedule of Maturities (Details) - USD ($) $ in Thousands	Jul. 02, 2023	Jan. 01, 2023
Aggregate future maturities of outstanding debt
Fiscal 2023 (remaining six months)	$ 16,475
Fiscal 2024	5,069
Fiscal 2025	5,073
Fiscal 2026	72,493
Fiscal 2027	260,080
Thereafter	21
Total	$ 359,211	$ 508,672

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 ($)	Jul. 02, 2023	Oct. 31, 2021
Debt Instrument [Line Items]
Maximum borrowing capacity		$ 25,000,000
Cash collateral for borrowed securities		50%
Letters of credit outstanding, amount	$ 24,300,000
Restricted cash	$ 12,500,000

Debt and Credit Sources - Loan

Debt and Credit Sources - Loan Facility with Credit Suisse AG (Details) - USD ($)	Oct. 01, 2023	Jul. 02, 2023	Jun. 30, 2022
Minimum
Line of Credit Facility [Line Items]
Weighted-average interest rate		6.20%
Maximum
Line of Credit Facility [Line Items]
Weighted-average interest rate		7.20%
Line of Credit
Line of Credit Facility [Line Items]
Maximum borrowing capacity		$ 50,000,000
Term Loan Facility with Credit Suisse AG | Line of Credit
Line of Credit Facility [Line Items]
Maximum borrowing capacity			$ 100,000,000
Long-term line of credit	$ 65,300,000	67,400,000
Amount being held in a liquidity reserve account		$ 700,000

Debt and Credit Sources - Revol

Debt and Credit Sources - Revolver and Term Loan Facility with Bank of America and Bank of the West (Details) - USD ($) $ in Millions	Jan. 26, 2023	Sep. 12, 2022	Jul. 02, 2023
Revolver and Term Loan Facility
Debt Instrument [Line Items]
Maximum borrowing capacity		$ 100
Increase in revolver commitments, amount	$ 100
Letters of credit outstanding, amount			$ 0
Revolver and Term Loan Facility | Fed Funds Effective Rate Overnight Index Swap Rate
Debt Instrument [Line Items]
Basis spread		0.50%
Revolver and Term Loan Facility | Minimum
Debt Instrument [Line Items]
Commitment fee percentage		0.25%
Revolver and Term Loan Facility | Maximum
Debt Instrument [Line Items]
Commitment fee percentage		0.35%
Term Loan Facility
Debt Instrument [Line Items]
Borrowings outstanding			97.5
Revolver
Debt Instrument [Line Items]
Borrowings outstanding			180
Line of Credit
Debt Instrument [Line Items]
Maximum borrowing capacity			$ 50

Related-Party Transactions (Det

Related-Party Transactions (Details) - USD ($) $ in Thousands		3 Months Ended		6 Months Ended
		Jul. 02, 2023	Jul. 03, 2022	Jul. 02, 2023	Jul. 03, 2022	Jan. 01, 2023
Related Party Transaction [Line Items]
Total cost of revenues1		$ 389,431	$ 326,737	$ 742,660	$ 595,010
Research and development expenses reimbursement received	[1]	6,508	7,182	13,755	12,353
Prepaid expenses and other current assets	[2]	228,874		228,874		$ 197,811
Accrued liabilities	[2]	133,530		133,530		148,119
Other long-term liabilities		112,771		112,771		114,702
Maxeon Solar | Related Party
Related Party Transaction [Line Items]
Total cost of revenues1		78,432	62,602	148,890	135,061
Research and development expenses reimbursement received		542	8,061	1,006	17,535
Sublease income (recorded in sales, general, and administrative expense)		468	0	936	0
Income (expense) from transition services agreement, net		(25)	$ (24)	(50)	$ (290)
Prepaid expenses and other current assets		419		419		607
Accrued liabilities		7,887		7,887		11,239
Accounts payable		46,948		46,948		38,486
Other long-term liabilities		$ 1,458		$ 1,458		$ 1,458
[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 “total revenues,” “total cost of revenues,” “operating expenses: research and development,” “operating expenses: sales, general, and administrative,” “operating expenses: (income) expense from 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).

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Thousands		3 Months Ended		6 Months Ended
		Jul. 02, 2023	Jul. 03, 2022	Jul. 02, 2023	Jul. 03, 2022	Jan. 01, 2023
Income Tax Disclosure [Abstract]
(Provision for) benefits from income taxes		$ (378)	$ 793	$ (1,706)	$ 8,922
Loss from continuing operations before income taxes		28,329	41,847	74,462	57,498
Loss from discontinued operations before income taxes	[1]	2,796	21,560	10,156	47,858
Income tax benefit from discontinued operations		77	$ 107	155	$ 440
Unrecognized tax benefits		$ 12,900		12,900		$ 12,300
Valuation allowance, deferred tax asset, increase				$ 600
[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 “total revenues,” “total cost of revenues,” “operating expenses: research and development,” “operating expenses: sales, general, and administrative,” “operating expenses: (income) expense from 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).

Net (Loss) Income Per Share - C

Net (Loss) Income Per Share - Calculation of Basic and Diluted Net (Loss) Income per share Attributable (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 02, 2023	Jul. 03, 2022	Jul. 02, 2023	Jul. 03, 2022
Numerator:
Net (loss) income attributable to stockholders - continuing operations1	$ (28,489)	$ (41,839)	$ (75,843)	$ (49,022)
Net (loss) income attributable to stockholders - discontinued operations	(2,719)	(21,453)	(10,001)	(47,168)
Net (loss) income attributable to stockholders	$ (31,208)	$ (63,292)	$ (85,844)	$ (96,190)
Denominator:
Basic weighted-average common shares (in shares)	175,042	173,951	174,785	173,664
Basic net (loss) income per share - continuing operations (in dollars per share)	$ (0.16)	$ (0.24)	$ (0.43)	$ (0.28)
Dilutive net (loss) income per share - continuing operations (in dollars per share)	(0.16)	(0.24)	(0.43)	(0.28)
Basic net loss per share - discontinued operations (in dollars per share)	(0.02)	(0.12)	(0.06)	(0.27)
Dilutive net loss per share - discontinued operations (in dollars per share)	(0.02)	(0.12)	(0.06)	(0.27)
Net income (loss) per share – basic (in dollars per share)	(0.18)	(0.36)	(0.49)	(0.55)
Net income (loss) per share – diluted (in dollars per share)	$ (0.18)	$ (0.36)	$ (0.49)	$ (0.55)

Net (Loss) Income Per Share - A

Net (Loss) Income Per Share - Anti-dilutive Securities (Details) - shares shares in Thousands	3 Months Ended		6 Months Ended
	Jul. 02, 2023	Jul. 03, 2022	Jul. 02, 2023	Jul. 03, 2022
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)	5,025	3,433	4,649	3,465
4.00% convertible debentures due 2023
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Interest rate	4%		4%
Antidilutive securities excluded from computation of earnings per share, amount (in shares)	0	17,068	1,500	17,068

Stock-Based Compensation (Detai

Stock-Based Compensation (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 02, 2023	Jul. 03, 2022	Jul. 02, 2023	Jul. 03, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense	$ 8,659	$ 7,051	$ 15,536	$ 12,452
Cost of revenues
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense	1,904	1,395	3,153	2,350
Research and development
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense	697	270	1,225	839
Sales, general, and administrative
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense	$ 6,058	$ 5,386	$ 11,158	$ 9,263

Subsequent Events (Details)

Subsequent Events (Details) - Subsequent Event $ in Millions	Jul. 24, 2023 USD ($) employee
Subsequent Event [Line Items]
Restructuring, number of jobs affected | employee	140
Reorganization, number of jobs affected, percent	5%
Restructuring charges, amount expected | $	$ 4.3