Sunpower (SPWRQ) 10-Q 18 Dec 23 2023 Q3 Quarterly report Financial data

Cover Page

Cover Page - shares	9 Months Ended
	Oct. 01, 2023	Dec. 08, 2023
Entity Addresses [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Oct. 01, 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		175,361,088
Amendment Flag	false
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	Q3
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		Oct. 01, 2023	Jul. 02, 2023	Apr. 02, 2023	Jan. 01, 2023	Oct. 02, 2022	Jul. 03, 2022	Apr. 03, 2022	Jan. 02, 2022
Current assets:
Cash and cash equivalents		$ 103,683			$ 377,026	$ 396,510
Restricted cash and cash equivalents, current portion		2,728			10,668	14,009
Short-term investments		0			132,480
Accounts receivable, net	[1]	203,689			169,674
Contract assets		37,128			57,070
Loan receivables held for sale, net		15,443	$ 11,947		0
Inventories		324,484			295,731
Advances to suppliers, current portion		6,487			12,059
Prepaid expenses and other current assets	[1]	233,558			197,811
Total current assets		927,200			1,252,519
Restricted cash and cash equivalents, net of current portion		9,548			18,812	27,896
Property, plant and equipment, net		106,069			76,473
Operating lease right-of-use assets		32,534			36,926
Solar power systems leased, net		38,845			41,779
Goodwill		125,998			125,998
Other intangible assets, net		19,830			24,192
Other long-term assets	[1]	187,308			186,927
Total assets		1,447,332			1,763,626
Current liabilities:
Accounts payable	[1]	186,543			243,139
Accrued liabilities	[1]	130,643			148,119
Operating lease liabilities, current portion		10,846			11,356
Contract liabilities, current portion	[1]	231,591			141,863
Short-term debt, net		306,375			82,240
Convertible debt, current portion	[1]	0			424,919
Total current liabilities		865,998			1,051,636
Long-term debt, net		255			308
Operating lease liabilities, net of current portion		24,328			29,347
Contract liabilities, net of current portion		10,805			11,588
Other long-term liabilities	[1]	122,406			114,702
Total liabilities		1,023,792			1,207,581
Commitments and contingencies (Note 10)
Equity:
Preferred stock, $0.001 par value; 10,000 shares authorized; none issued and outstanding as of October 1, 2023 and January 1, 2023		0			0
Common stock, $0.001 par value, 367,500 shares authorized; 189,834 shares issued and 175,302 shares outstanding as of October 1, 2023; 188,287 shares issued and 174,269 shares outstanding as of January 1, 2023		175			174
Additional paid-in capital		2,853,487			2,855,930
Accumulated deficit		(2,208,992)			(2,085,784)
Accumulated other comprehensive income		11,569			11,568
Treasury stock, at cost: 14,532 shares of common stock as of October 1, 2023; 14,018 shares of common stock as of January 1, 2023		(233,626)			(226,646)
Total stockholders' equity		422,613			555,242
Noncontrolling interests in subsidiaries		927			803
Total equity		423,540	$ 455,975	$ 479,728	556,045	$ 551,203	$ 407,463	$ 348,213	$ 383,603
Total liabilities and equity		$ 1,447,332			$ 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 10, Note 11, and Note 13)

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) (Unaudited) - $ / shares shares in Thousands	Oct. 01, 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)	189,834	188,287
Common stock shares outstanding (in shares)	175,302	174,269
Common stock shares held as treasury stock (in shares)	14,532	14,018

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands		3 Months Ended			9 Months Ended
		Oct. 01, 2023		Oct. 02, 2022	Oct. 01, 2023		Oct. 02, 2022
Income Statement [Abstract]
Total revenues		$ 430,690	[1]	$ 476,393	$ 1,328,317	[1]	$ 1,243,975
Total cost of revenues		358,181		359,728	1,100,841		954,738
Gross profit		72,509		116,665	227,476		289,237
Operating expenses:
Research and development		5,406	[1]	6,846	19,161	[1]	19,199
Sales, general, and administrative		93,345	[1]	101,185	288,161	[1]	294,412
Restructuring charges (credits)		5,873		111	5,873		244
(Income) expense from transition services agreement, net		170	[1]	(1,059)	30	[1]	(1,287)
Total operating expenses		104,794		107,083	313,225		312,568
Operating (loss) income		(32,285)		9,582	(85,749)		(23,331)
Other (expense) income, net:
Interest income		1,096		144	2,256		278
Interest expense		(7,660)	[1]	(3,712)	(19,124)	[1]	(15,223)
Other, net		103		135,368	(10,591)		122,160
Other (expense) income, net		(6,461)		131,800	(27,459)		107,215
(Loss) income from continuing operations before income taxes and equity in earnings (losses) of unconsolidated investees		(38,746)		141,382	(113,208)		83,884
(Provision for) benefits from income taxes		137		(2,442)	(1,569)		6,480
Equity in earnings (losses) of unconsolidated investees		2,990		1,936	3,410		1,936
Net (loss) income from continuing operations		(35,619)		140,876	(111,367)		92,300
(Loss) income from discontinued operations before income taxes and equity in earnings (losses) of unconsolidated investees	[1]	(1,924)		(2,395)	(12,080)		(50,253)
Benefits from (provision for) income taxes from discontinued operations		208		358	363		798
Net (loss) income from discontinued operations		(1,716)		(2,037)	(11,717)		(49,455)
Net (loss) income		(37,335)		138,839	(123,084)		42,845
Net (income) loss from continuing operations attributable to noncontrolling interests		(29)		(3,225)	(124)		(3,671)
Net loss (income) from discontinued operations attributable to noncontrolling interests		0		0	0		250
Net (income) loss attributable to noncontrolling interests		(29)		(3,225)	(124)		(3,421)
Net (loss) income from continuing operations attributable to stockholders		(35,648)		137,651	(111,491)		88,629
Net (loss) income from discontinued operations attributable to stockholders		(1,716)		(2,037)	(11,717)		(49,205)
Net (loss) income attributable to stockholders		$ (37,364)		$ 135,614	$ (123,208)		$ 39,424
Net (loss) income per share attributable to stockholders - basic:
Continuing operations - basic (in dollars per share)		$ (0.20)		$ 0.79	$ (0.64)		$ 0.51
Discontinued operations - basic (in dollars per share)		(0.01)		(0.01)	(0.07)		(0.28)
Net income (loss) per share – basic (in dollars per share)		(0.21)		0.78	(0.71)		0.23
Net (loss) income per share attributable to stockholders - diluted:
Continuing operations - diluted (in dollars per share)		(0.20)		0.73	(0.64)		0.51
Discontinued operations - diluted (in dollars per share)		(0.01)		(0.01)	(0.07)		(0.26)
Net income (loss) per share – diluted (in dollars per share)		$ (0.21)		$ 0.72	$ (0.71)		$ 0.25
Weighted-average shares:
Basic (in shares)		175,241		174,118	174,937		173,815
Diluted (in shares)		175,241		192,497	174,937		191,589
[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: expense (income) from transition services agreement, net,” “other (expense) income, 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 11, and Note 13).

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive (Loss) Income - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 01, 2023	Oct. 02, 2022	Oct. 01, 2023	Oct. 02, 2022
Statement of Comprehensive Income [Abstract]
Net (loss) income	$ (37,335)	$ 138,839	$ (123,084)	$ 42,845
Components of other comprehensive income (loss):
Translation adjustment	(17)	(42)	1	(71)
Total other comprehensive income (loss)	(17)	(42)	1	(71)
Total comprehensive (loss) income	(37,352)	138,797	(123,083)	42,774
Comprehensive (income) loss attributable to noncontrolling interests	(29)	(3,225)	(124)	(3,421)
Comprehensive (loss) income attributable to stockholders	$ (37,381)	$ 135,572	$ (123,207)	$ 39,353

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Equity - USD ($) shares in Thousands, $ in Thousands	Total	As Previously Reported	Restatement Adjustments	Total Stockholders’ Equity	Total Stockholders’ Equity As Previously Reported	Total Stockholders’ Equity Restatement Adjustments	Common Stock	Common Stock As Previously Reported	Additional Paid-in Capital	Additional Paid-in Capital As Previously Reported	Treasury Stock	Treasury Stock As Previously Reported	Accumulated Other Comprehensive Income (Loss)	Accumulated Other Comprehensive Income (Loss) As Previously Reported	Accumulated Deficit	Accumulated Deficit As Previously Reported	Accumulated Deficit Restatement Adjustments	Noncontrolling Interests in Subsidiaries	Noncontrolling Interests in Subsidiaries As 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 (loss)	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 (loss)	(71)
Stockholders' equity, end of period (in shares) at Oct. 02, 2022							174,155
Stockholders' equity, end of period at Oct. 02, 2022	551,203			542,204			$ 174		2,845,845		(225,703)		11,097		(2,089,209)			8,999
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 (loss)	(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
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net (loss) income	138,839			135,614											135,614			3,225
Other comprehensive income (loss)	(42)			(42)									(42)
Issuance of restricted stock to employees, net of cancellations (in shares)							114
Stock-based compensation expense	6,557			6,557					6,557
Purchases of treasury stock (in shares)							(40)
Purchases of treasury stock	(874)			(874)							(874)
Closing statement adjustment in connection with the sale of our C&I Solutions business	(740)			(740)					(740)
Stockholders' equity, end of period (in shares) at Oct. 02, 2022							174,155
Stockholders' equity, end of period at Oct. 02, 2022	$ 551,203			542,204			$ 174		2,845,845		(225,703)		11,097		(2,089,209)			8,999
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 (loss)	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 (loss)	$ 1
Stockholders' equity, end of period (in shares) at Oct. 01, 2023	175,302						175,302
Stockholders' equity, end of period at Oct. 01, 2023	$ 423,540			422,613			$ 175		2,853,487		(233,626)		11,569		(2,208,992)			927
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 (loss)	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
Stockholders' equity, end of period at Jul. 02, 2023	455,975			455,077			$ 175		2,847,884		(232,940)		11,586		(2,171,628)			898
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net (loss) income	(37,335)			(37,364)											(37,364)			29
Other comprehensive income (loss)	(17)			(17)									(17)
Issuance of restricted stock to employees, net of cancellations (in shares)							190
Stock-based compensation expense	5,603			5,603					5,603
Purchases of treasury stock (in shares)							(61)
Purchases of treasury stock	$ (686)			(686)							(686)
Stockholders' equity, end of period (in shares) at Oct. 01, 2023	175,302						175,302
Stockholders' equity, end of period at Oct. 01, 2023	$ 423,540			$ 422,613			$ 175		$ 2,853,487		$ (233,626)		$ 11,569		$ (2,208,992)			$ 927

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	9 Months Ended
	Oct. 01, 2023	Oct. 02, 2022
Cash flows from operating activities:
Net (loss) income	$ (123,084)	$ 42,845
Adjustments to reconcile net (loss) income to net cash used in operating activities:
Depreciation and amortization	36,994	22,261
Amortization of cloud computing arrangements	4,251	3,549
Stock-based compensation	21,139	19,056
Amortization of debt issuance costs	1,532	2,556
Equity in (earnings) losses of unconsolidated investees	(3,410)	(1,936)
Loss (gain) on equity investments	10,805	(120,965)
Unrealized (gain) loss on derivatives	(1,330)	(2,304)
Dividend from equity method investee	596	133
Deferred income taxes	(536)	(12,659)
Loss (gain) on loan receivables held for sale	361	0
Other, net	935	128
Changes in operating assets and liabilities:
Accounts receivable	(34,954)	(65,802)
Contract assets	19,942	(318)
Inventories	(28,753)	(14,764)
Project assets	3	295
Loan receivables held for sale	(15,804)	0
Prepaid expenses and other assets	(23,411)	(204,988)
Operating lease right-of-use assets	8,398	8,612
Advances to suppliers	5,572	(6,288)
Accounts payable and other accrued liabilities	(70,333)	74,631
Contract liabilities	88,945	98,297
Operating lease liabilities	(9,531)	(11,828)
Net cash (used in) provided by operating activities	(111,673)	(169,489)
Cash flows from investing activities:
Purchases of property, plant, and equipment	(39,509)	(36,958)
Investments in software development costs	(4,649)	(4,225)
Proceeds from sale of property, plant, and equipment	25	0
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)	(30,920)
Proceeds from sale of equity investment	121,675	440,108
Cash paid for investments in unconsolidated investees	(9,070)	(5,742)
Dividend from equity method investee, in excess of cumulative earnings	149	137
Net cash provided by (used in) investing activities	30,229	508,703
Cash flows from financing activities:
Proceeds from bank loans and other debt	493,440	124,729
Repayment of bank loans and other debt	(267,482)	(166,901)
Repayment of convertible debt	(424,991)	0
Payments for financing leases	(3,091)	(764)
Purchases of stock for tax withholding obligations on vested restricted stock	(6,979)	(10,462)
Net cash (used in) provided by financing activities	(209,103)	(53,398)
Net (decrease) increase in cash, cash equivalents, and restricted cash	(290,547)	285,816
Cash, cash equivalents, and restricted cash, beginning of period	406,506	152,599
Cash, cash equivalents, and restricted cash, end of period	115,959	438,415
Reconciliation of cash, cash equivalents, and restricted cash to the condensed consolidated balance sheets:
Cash and cash equivalents	103,683	396,510
Restricted cash and cash equivalents, current portion	2,728	14,009
Restricted cash and cash equivalents, net of current portion	9,548	27,896
Total cash, cash equivalents, and restricted cash	115,959	438,415
Supplemental disclosure of non-cash activities:
Property, plant and equipment acquisitions funded by liabilities (including financing leases)	14,956	9,082
Right-of-use assets obtained in exchange for lease obligations	4,006	12,988
Net working capital settlement related to C&I Solutions sale	0	7,005
Supplemental cash flow disclosures:
Cash paid for interest	25,261	20,323
Cash paid for income taxes	$ 1,442	$ 5,187

Restatement of Condensed Consol

Restatement of Condensed Consolidated Financial Statements	9 Months Ended
	Oct. 01, 2023
Accounting Changes and Error Corrections [Abstract]
Restatement of Condensed Consolidated Financial Statements	RESTATEMENT OF 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 “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 sheet as of January 1, 2023, statements of operations for the three and nine months ended October 2, 2022, and statements of cash flows for the nine months ended October 2, 2022. The consolidated statements of comprehensive income (loss) and statements of equity for the three and nine months ended October 2, 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 for the three and nine months ended October 2, 2022, have been restated to reflect the corrections related to the value of consignment inventory of MI components 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 Q3 2023 Form 10-Q. The restatement adjustments and their impacts on the previously issued condensed consolidated balance sheet as of January 1, 2023, the statements of operations for the three and nine months ended October 2, 2022, and the statement of cash flows for the nine months ended October 2, 2022 are described below. Description of Restatement Adjustments The categories of the restatement adjustments and their impact on the previously reported condensed consolidated balance sheet as of January 1, 2023, statements of operations for the three and nine months ended October 2, 2022, and statement of cash flows for the nine months ended October 2, 2022 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 as of January 1, 2023 and for the three and nine months ended October 2, 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 nine months ended October 2, 2022 is a decrease to total cost of revenues of $2.9 million and an increase to total cost of revenues of $4.5 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 nine months ended October 2, 2022. • The aggregated impact to the condensed consolidated statements of operations for the three and nine months ended October 2, 2022 is a decrease to total cost of revenues of $11.5 million and $37.1 million, respectively, and an increase to sales, general, and administrative expenses of $11.5 million and $37.1 million, respectively. c. Other Restatement Adjustments - There are other restatement adjustments otherwise not described in items (a) to (b) above, which are individually and in the aggregate insignificant as of January 1, 2023 and for the three and nine months ended October 2, 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 January 1, 2023 and for the three and nine months ended October 2, 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 January 1, 2023 (In thousands) As Previously Reported Restatement Adjustments Restatement Reference As Restated Assets Current assets: Cash and cash equivalents $ 377,026 $ — $ 377,026 Restricted cash and cash equivalents, current portion 9,855 813 c 10,668 Short-term investments 132,480 — 132,480 Accounts receivable, net 174,577 (4,903) c 169,674 Contract assets 50,692 6,378 c 57,070 Inventories 316,815 (21,084) a, c 295,731 Advances to suppliers, current portion 9,309 2,750 a 12,059 Prepaid expenses and other current assets 197,760 51 a, c 197,811 Total current assets 1,268,514 (15,995) 1,252,519 Restricted cash and cash equivalents, net of current portion 15,151 3,661 c 18,812 Property, plant and equipment, net 74,522 1,951 c 76,473 Operating lease right-of-use assets 36,926 — 36,926 Solar power systems leased, net 41,779 — 41,779 Goodwill 126,338 (340) c 125,998 Other intangible assets, net 24,192 — 24,192 Other long-term assets 192,585 (5,658) c 186,927 Total assets $ 1,780,007 $ (16,381) $ 1,763,626 Liabilities and Equity Current liabilities: Accounts payable $ 242,229 $ 910 a, c $ 243,139 Accrued liabilities 145,229 2,890 a, c 148,119 Operating lease liabilities, current portion 11,356 — 11,356 Contract liabilities, current portion 144,209 (2,346) c 141,863 Short-term debt, net 82,404 (164) c 82,240 Convertible debt, current portion 424,919 — 424,919 Current liabilities of discontinued operations — — — Total current liabilities 1,050,346 1,290 1,051,636 Long-term debt, net 308 — 308 Operating lease liabilities, net of current portion 29,347 — 29,347 Contract liabilities, net of current portion 11,555 33 c 11,588 Other long-term liabilities 112,797 1,905 c 114,702 Long-term liabilities of discontinued operations — — — Total liabilities 1,204,353 3,228 1,207,581 Commitments and contingencies (Note 10) Equity: Preferred stock — — — Common stock 174 — 174 Additional paid-in capital 2,855,930 — 2,855,930 Accumulated deficit (2,066,175) (19,609) a, c (2,085,784) Accumulated other comprehensive income 11,568 — 11,568 Treasury stock, at cost (226,646) — (226,646) Total stockholders' equity 574,851 (19,609) 555,242 Noncontrolling interests in subsidiaries 803 — 803 Total equity 575,654 (19,609) 556,045 Total liabilities and equity $ 1,780,007 $ (16,381) $ 1,763,626 Summary of Restatement - Condensed Consolidated Statements of Operations Three Months Ended Nine Months Ended October 2, 2022 October 2, 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 $ 475,711 $ 682 c $ 476,393 $ 1,243,760 $ 215 c $ 1,243,975 Total cost of revenues 370,264 (10,536) a-c 359,728 984,505 (29,767) a-c 954,738 Gross profit 105,447 11,218 116,665 259,255 29,982 289,237 Operating expenses: Research and development 6,784 62 c 6,846 19,199 — 19,199 Sales, general, and administrative 87,124 14,061 b, c 101,185 257,163 37,249 b, c 294,412 Restructuring charges (credits) 111 — 111 244 — 244 (Income) expense from transition services agreement, net (1,059) — (1,059) (1,287) — (1,287) Total operating expenses 92,960 14,123 107,083 275,319 37,249 312,568 Operating income (loss) 12,487 (2,905) 9,582 (16,064) (7,267) (23,331) Other income (expense), net: Interest income 144 — 144 278 — 278 Interest expense (4,216) 504 c (3,712) (15,224) 1 c (15,223) Other, net 135,368 — 135,368 122,160 — 122,160 Other income (expense), net 131,296 504 131,800 107,214 1 107,215 Income (loss) from continuing operations before income taxes and equity in earnings (losses) of unconsolidated investees 143,783 (2,401) 141,382 91,150 (7,266) 83,884 (Provision for) benefits from income taxes (3,109) 667 c (2,442) 5,308 1,172 c 6,480 Equity in earnings (losses) of unconsolidated investees 1,958 (22) c 1,936 1,958 (22) c 1,936 Net income (loss) from continuing operations 142,632 (1,756) 140,876 98,416 (6,116) 92,300 (Loss) income from discontinued operations before income taxes and equity in earnings (losses) of unconsolidated investees — (2,395) c (2,395) (47,155) (3,098) c (50,253) Benefits from (provision for) income taxes from discontinued operations — 358 c 358 584 214 c 798 Net (loss) income from discontinued operations — (2,037) (2,037) (46,571) (2,884) (49,455) Net income (loss) 142,632 (3,793) 138,839 51,845 (9,000) 42,845 Net (income) loss from continuing operations attributable to noncontrolling interests (3,225) — (3,225) (3,671) — (3,671) Net loss (income) from discontinued operations attributable to noncontrolling interests — — — 250 — 250 Net (income) loss attributable to noncontrolling interests (3,225) — (3,225) (3,421) — (3,421) Net income (loss) from continuing operations attributable to stockholders 139,407 (1,756) 137,651 94,745 (6,116) 88,629 Net (loss) income from discontinued operations attributable to stockholders — (2,037) (2,037) (46,321) (2,884) (49,205) Net income (loss) attributable to stockholders $ 139,407 $ (3,793) $ 135,614 $ 48,424 $ (9,000) $ 39,424 Net income (loss) per share attributable to stockholders - basic: Continuing operations $ 0.80 $ (0.01) a, c $ 0.79 $ 0.55 $ (0.04) a, c $ 0.51 Discontinued operations $ — $ (0.01) c $ (0.01) $ (0.27) $ (0.01) c $ (0.28) Net income (loss) per share – basic $ 0.80 $ (0.02) a, c $ 0.78 $ 0.28 $ (0.05) a, c $ 0.23 Net income (loss) per share attributable to stockholders - diluted: Continuing operations $ 0.74 $ (0.01) a, c $ 0.73 $ 0.54 $ (0.03) a, c $ 0.51 Discontinued operations $ — $ (0.01) c $ (0.01) $ (0.24) $ (0.02) c $ (0.26) Net income (loss) per share – diluted $ 0.74 $ (0.02) a, c $ 0.72 $ 0.30 $ (0.05) a, c $ 0.25 Weighted-average shares: Basic 174,118 — 174,118 173,815 — 173,815 Diluted 192,497 — 192,497 191,589 — 191,589 Summary of Restatement - Condensed Consolidated Statement of Cash Flows Nine Months Ended October 2, 2022 (In thousands) As Previously Reported Restatement Adjustments Restatement Reference As Restated Cash flows from operating activities: Net income (loss) $ 51,845 $ (9,000) a, c $ 42,845 Adjustments to reconcile net income (loss) to net cash used in operating activities: Depreciation and amortization 21,704 557 c 22,261 Amortization of cloud computing arrangements 3,392 157 c 3,549 Stock-based compensation 19,056 — 19,056 Amortization of debt issuance costs 2,556 — 2,556 Equity in (earnings) losses of unconsolidated investees (1,958) 22 c (1,936) (Gain) loss on equity investments (120,965) — (120,965) Unrealized (gain) loss on derivatives (2,304) — (2,304) Dividend from equity method investees 133 — 133 Deferred income taxes (12,606) (53) c (12,659) Other, net 128 — 128 Changes in operating assets and liabilities: Accounts receivable (66,254) 452 c (65,802) Contract assets 2,326 (2,644) c (318) Inventories (22,787) 8,023 a, c (14,764) Project assets 295 — 295 Prepaid expenses and other assets (212,164) 7,176 a, c (204,988) Operating lease right-of-use assets 8,424 188 c 8,612 Advances to suppliers (6,288) — (6,288) Accounts payable and other accrued liabilities 77,844 (3,213) a, c 74,631 Contract liabilities 98,663 (366) c 98,297 Operating lease liabilities (10,906) (922) c (11,828) Net cash (used in) provided by operating activities (169,866) 377 (169,489) Cash flows from investing activities: Purchases of property, plant, and equipment (36,958) — (36,958) Investments in software development costs (4,225) — (4,225) 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 (30,920) — (30,920) Proceeds from sale of equity investment 440,108 — 440,108 Cash paid for investments in unconsolidated investees (5,742) — (5,742) Dividend from equity method investee, in excess of cumulative earnings 137 — 137 Net cash provided by (used in) investing activities 508,703 — 508,703 Cash flows from financing activities: Proceeds from bank loans and other debt 124,729 — 124,729 Repayment of bank loans and other debt (167,003) 102 c (166,901) Payments for financing leases (735) (29) c (764) Purchases of stock for tax withholding obligations on vested restricted stock (10,462) — (10,462) Net cash (used in) provided by financing activities (53,471) 73 (53,398) Net increase (decrease) in cash, cash equivalents, and restricted cash 285,366 450 285,816 Cash, cash equivalents, and restricted cash, beginning of period 148,613 3,986 152,599 Cash, cash equivalents, and restricted cash, end of period $ 433,979 $ 4,436 $ 438,415 Reconciliation of cash, cash equivalents, and restricted cash to the condensed consolidated balance sheets: Cash and cash equivalents $ 396,510 $ — $ 396,510 Restricted cash and cash equivalents, current portion 13,204 805 c 14,009 Restricted cash and cash equivalents, net of current portion 24,265 3,631 c 27,896 Total cash, cash equivalents, and restricted cash $ 433,979 $ 4,436 $ 438,415 Supplemental disclosure of non-cash activities: Property, plant and equipment acquisitions funded by liabilities (including financing leases) $ 9,130 $ (48) c $ 9,082 Right-of-use assets obtained in exchange for lease obligations $ 14,005 $ (1,017) c $ 12,988 Working capital adjustment related to C&I Solutions sale $ 7,005 $ — $ 7,005 Supplemental cash flow disclosures: Cash paid for interest $ 20,323 $ — $ 20,323 Cash paid for income taxes $ 5,187 $ — $ 5,187

Transactions With Total and Tot

Transactions With Total and Total Energies SE	9 Months Ended
	Oct. 01, 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 October 1, 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) October 1, 2023 January 1, 2023 Accounts receivable $ 490 $ 489 Prepaid expenses and other current assets 2,107 2,898 Other long-term assets — 1,284 Accrued liabilities 121 8,033 Three Months Ended Nine Months Ended (In thousands) October 1, 2023 October 2, 2022 October 1, 2023 October 2, 2022 Expense (income) from transition services agreement, net $ 146 $ (1,095) $ (44) $ (1,613) Sublease income (recorded in sales, general, and administrative expense) — (214) — (285) Interest expense: Interest expense incurred on the 4.00% debentures due 2023 — 1,000 171 3,000 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 nine months ended October 1, 2023: Three Months Ended Nine Months Ended (In thousands) October 1, 2023 October 2, 2022 October 1, 2023 October 2, 2022 Purchases of photovoltaic modules (recorded in cost of revenues) $ 24,124 $ 68,060 $ 173,014 $ 203,121 Research and development expenses reimbursement received 129 840 1,135 18,375 Sublease income (recorded in sales, general, and administrative expense) 468 176 1,404 176 (Expense) income from transition services agreement, net (24) (36) (74) (326) We had the following balances related to transactions with Maxeon Solar as of October 1, 2023: As of (In thousands) October 1, 2023 January 1, 2023 Prepaid and other current assets $ 419 $ 607 Accrued liabilities 7,959 11,239 Accounts payable 3,697 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 11. 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	9 Months Ended
	Oct. 01, 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 nine months ended October 1, 2023 and October 2, 2022: Three Months Ended Nine Months Ended October 1, 2023 October 2, 2022 October 1, 2023 October 2, 2022 (In thousands) (As Restated) (As Restated) Solar power systems sales $ 348,052 $ 360,223 $ 1,059,536 $ 951,694 Component sales 74,285 105,303 249,097 239,722 Light commercial sales (50) 4,918 562 43,683 Services and other 8,403 5,949 19,122 8,876 Total revenues $ 430,690 $ 476,393 $ 1,328,317 $ 1,243,975 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 October 1, 2023 January 1, 2023 (In thousands) (As Restated) Contract assets $ 37,438 $ 57,379 Contract liabilities 1 $ 242,396 $ 153,451 1 As of October 1, 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 nine months ended October 1, 2023, we recognized revenue of $115.5 million and $103.7 million that was included in contract liabilities as of July 2, 2023 and January 1, 2023, respectively. During the three and nine months ended October 2, 2022, we recognized revenue of $55.9 million and $40.8 million that was included in contract liabilities as of July 3, 2022 and January 2, 2022, respectively. As of October 1, 2023, we have entered into contracts with customers for sales of solar systems and components for an aggregate transaction price of $645.3 million, the substantial majority of which we expect to recognize over the next 12 months.

Balance Sheet Components

Balance Sheet Components	9 Months Ended
	Oct. 01, 2023
Balance Sheet Related Disclosures [Abstract]
Balance Sheet Components	BALANCE SHEET COMPONENTS Accounts Receivable, Net As of October 1, 2023 January 1, 2023 (In thousands) (As Restated) Accounts receivable, gross $ 217,748 $ 184,733 Less: allowance for credit losses (13,829) (14,750) Less: allowance for sales returns (230) (309) Accounts receivable, net $ 203,689 $ 169,674 Allowance for Credit Losses Three Months Ended Nine Months Ended (In thousands) October 1, 2023 October 2, 2022 October 1, 2023 October 2, 2022 Balance at beginning of period $ 13,871 $ 15,659 $ 14,750 $ 14,375 Provision (recoveries) for credit losses 33 (74) 1,340 1,854 Write-offs (75) (330) (2,261) (974) Balance at end of period $ 13,829 $ 15,255 $ 13,829 $ 15,255 Inventories As of October 1, 2023 January 1, 2023 (In thousands) (As Restated) Photovoltaic modules $ 172,178 $ 136,006 Microinverters 54,610 48,645 Energy storage systems 47,106 62,861 Other solar power system component materials 50,590 48,219 Inventories 1 $ 324,484 $ 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 October 1, 2023 January 1, 2023 (In thousands) (As Restated) Deferred project costs $ 74,777 $ 125,604 Deferred costs for solar power systems 118,302 34,124 Related-party receivables 7,499 3,959 Other 32,980 34,124 Prepaid expenses and other current assets $ 233,558 $ 197,811 Property, Plant and Equipment, Net As of October 1, 2023 January 1, 2023 (In thousands) (As Restated) Testing equipment and tools $ 1,973 $ 1,157 Leasehold improvements 17,137 16,960 Solar power systems 12,709 10,271 Computer equipment 15,015 14,411 Internal-use software 82,515 71,477 Furniture and fixtures 7,895 8,088 Transportation equipment 6,481 3,941 Vehicle finance leases 26,221 12,316 Work-in-progress 9,187 5,958 Property, plant and equipment, gross 2 179,133 144,579 Less: accumulated depreciation and impairment 2,3 (73,064) (68,106) Property, plant, and equipment, net 1,3 $ 106,069 $ 76,473 1 Property, plant, and equipment is predominantly located in the U.S. 2 Our property, plant, and equipment includes fully depreciated fixed assets. When any of 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 October 1, 2023 and January 1, 2023, $21.9 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 nine months ended October 1, 2023, we recorded depreciation expense, including accretion expense related to our asset retirement obligations, of $11.4 million and $30.5 million, respectively. For the three and nine months ended October 2, 2022, we recorded depreciation expense of $6.0 million and $14.0 million, respectively. Other Long-term Assets As of October 1, 2023 January 1, 2023 (In thousands) (As Restated) Equity investments without readily determinable fair value $ 39,803 $ 31,699 Equity investments with fair value option (“FVO”) 29,594 18,346 Cloud computing arrangements (“CCA”) implementation costs, net of current portion 1 2,759 7,934 Deposits with related parties 6,549 7,329 Retail installment contract receivables, net of current portion 2, 3 88,026 98,001 Long-term deferred project costs 2,837 3,109 Derivative assets 3,712 2,293 Debt issuance costs — 3,556 Loan receivables held to maturity, net of current portion 3 811 — Other 13,217 14,660 Other long-term assets $ 187,308 $ 186,927 1 For the three and nine months ended October 1, 2023, we recorded $1.4 million and $4.3 million, respectively, of amortization expense related to the amortization of our capitalized CCA costs. For the three and nine months ended October 2, 2022, we recorded $1.6 million and $3.5 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 $21.4 million and $22.5 million, and allowance for credit losses of $1.1 million and $0.4 million as of October 1, 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 October 1, 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 October 1, 2023, the average FICO score of our customers under other loan receivable agreements is above 760, which is also categorized as a “Very Good” credit profile by the Fair Isaac Corporation. Accrued Liabilities As of October 1, 2023 January 1, 2023 (In thousands) (As Restated) Employee compensation and employee benefits $ 22,415 $ 36,452 Interest payable 734 8,549 Short-term warranty reserves 26,157 29,677 Restructuring reserve 1,674 2 Legal expenses 3,989 2,681 Taxes payable 9,429 9,641 Payable to related parties 7,959 11,239 Short-term finance lease liabilities 5,958 2,949 Indemnification obligations retained from C&I Solutions sale 1 22,608 20,781 Short-term asset retirement obligation liability 1,773 1,396 Other 27,947 24,752 Accrued liabilities $ 130,643 $ 148,119 1 As of October 1, 2023, we had a total of $20.4 million and $2.2 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 October 1, 2023 January 1, 2023 (In thousands) (As Restated) Deferred revenue $ 32,597 $ 35,864 Long-term warranty reserves 27,278 23,931 Unrecognized tax benefits 13,098 12,295 Related-party liabilities 1,458 1,458 Long-term finance lease liabilities 15,709 7,878 Indemnification obligations retained from C&I Solutions sale 1 10,904 11,385 Long-term asset retirement obligation liability 2,536 2,395 Other 18,826 19,496 Other long-term liabilities $ 122,406 $ 114,702 1 As of October 1, 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) October 1, 2023 January 1, 2023 Cumulative translation adjustment $ 9,577 $ 9,576 Net gain on long-term pension liability obligation 1,992 1,992 Accumulated other comprehensive income $ 11,569 $ 11,568

Loan Receivables Held For Sale

Loan Receivables Held For Sale	9 Months Ended
	Oct. 01, 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 at the lower of costs or fair value for the three and nine months ended October 1, 2023: Three Months Ended Nine Months Ended (In thousands) October 1, 2023 October 1, 2023 Balance at beginning of period $ 11,947 $ — Additions 1 67,924 110,882 Proceeds from sales (67,402) (98,754) Gain (loss) on sale 2 3,310 3,676 (Increase) decrease in valuation allowance 3 (336) (361) Balance at end of period $ 15,443 $ 15,443 1 In the nine months ended October 1, 2023, we capitalized $5.3 million of transaction costs related to the structuring of the sale of receivables, which are presented within “prepaid expenses and other current assets” on our condensed consolidated balance sheets. 2 In the three and nine months ended October 1, 2023, we recognized a gain of $3.1 million and $3.6 million, respectively, 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 gain of $0.2 million and $0.1 million, respectively, from contracts sold during the three and nine months ended October 1, 2023 but not yet recognized as revenue, which was deferred and recorded within “contract liabilities” on our condensed consolidated balance sheets. 3 In the three and nine months ended October 1, 2023, we recorded a valuation allowance related to the write-down of our loan receivables held for sale to fair value on our condensed consolidated balance sheets.

Goodwill and Intangible Assets

Goodwill and Intangible Assets	9 Months Ended
	Oct. 01, 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 prior to completing a quantitative assessment 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 1, 2023, 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 October 1, 2023: Developed technology $ 3,700 $ (2,467) $ 1,233 Brand 15,800 (7,900) 7,900 Non-compete agreements 3,400 (2,267) 1,133 Software development costs 13,840 (4,276) 9,564 Total $ 36,740 $ (16,910) $ 19,830 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 $9.0 million for the three and nine months ended October 1, 2023, and $1.6 million and $4.8 million for the three and nine months ended October 2, 2022, respectively. No impairment loss was recorded for intangible assets for the three and nine months ended October 1, 2023 and October 2, 2022. As of October 1, 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 three months) $ 3,181 2024 10,871 2025 5,778 Total $ 19,830

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Oct. 01, 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: October 1, 2023 (In thousands) Carrying Value Total Fair Value Level 3 Level 2 Level 1 Assets Cash and cash equivalents: Money market funds $ 30,000 $ 30,000 $ — $ — $ 30,000 Loan receivables held for sale, net 15,443 17,116 — 17,116 — Other long-term assets: Equity investments with FVO 29,594 29,594 29,594 — — Interest rate swaps 3,712 3,712 — 3,712 — Total assets $ 78,749 $ 80,422 $ 29,594 $ 20,828 $ 30,000 Liabilities Accrued liabilities: Interest rate swaps $ 90 $ 90 $ — $ 90 $ — Total liabilities $ 90 $ 90 $ — $ 90 $ — 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 October 1, 2023, we recorded an amount of $30.0 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 11. 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 nine months ended October 1, 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 nine months ended October 1, 2023. (In thousands) Beginning balance as of January 1, 2023 Equity Distribution Additional Investment Other adjustment 1 Ending balance as of October 1, 2023 Equity investments with FVO $ 18,346 $ — $ 9,071 $ 2,177 $ 29,594 1 During the third quarter of fiscal 2023, we recorded a fair value adjustment of $2.2 million as a result of our assessment of the fair value of our equity investments with FVO during the quarter. The fair value adjustment was recorded within “Equity in earnings (losses) of unconsolidated investees” in our condensed consolidated statements of operations. 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 October 1, 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 $ 29,594 Discounted cash flows Discount rate Residual value 14.0%-14.5% 6.4%-17.5% 14.2% 9.5% Total assets $ 29,594 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 nine months ended October 1, 2023. During the three and nine months ended October 2, 2022, we sold one and two million shares of Enphase common stock in open market transactions for net cash proceeds of $290.3 million and $440.1 million, respectively. 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 October 1, 2023, we recorded derivative assets of $3.7 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 in May 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 October 1, 2023, we recorded derivative liabilities of $0.1 million, within “ accrued liabilities total revenues Retail installment contract receivables, net The aggregate carrying value of our long-term retail installment contracts as of October 1, 2023 was $101.9 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 October 1, 2023 was $74.7 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.

Restructuring

Restructuring	9 Months Ended
	Oct. 01, 2023
Restructuring and Related Activities [Abstract]
Restructuring	RESTRUCTURING Fiscal 2023 Restructuring Plans In July 2023, we adopted a restructuring plan to align operating costs with current market conditions driven by slower sales partly due to higher interest rates. The plan was intended to improve near-term financial strength in order to remain competitive for future market conditions. As part of the restructuring plan, approximately 140 employees, representing approximately 5% of our labor costs, exited the business in the third quarter of fiscal 2023. We expect to incur restructuring charges totaling approximately $4.8 million, consisting primarily of severance benefits. In September 2023, we adopted another restructuring plan with similar intentions to improve near-term financial strength in order to remain competitive for future market conditions. As part of the restructuring plan, approximately 55 employees exited the business in the third quarter of fiscal 2023. We expect to incur restructuring charges totaling approximately $1.0 million, consisting primarily of severance benefits. As of October 1, 2023, we had incurred cumulative costs of approximately $5.9 million in restructuring charges, primarily relating to the payment of severance benefits. The July 2023 restructuring plan is substantially completed, with the only remaining activities on the plan relating to severance payments for certain employees retained through the end of the fiscal year. The September 2023 restructuring plan is expected to be completed by the fourth quarter of fiscal 2023. As a result of these restructuring activities, we expect to realize cost reductions over the next 12 months of approximately $20.6 million primarily in cost of revenues and selling, general, and administrative expenses. The following table summarizes the restructuring charges for the July 2023 and September 2023 restructuring plans recognized in our condensed consolidated statements of operations: Nine Months Ended (In thousands) October 1, 2023 Cumulative To Date July 2023 Restructuring Plan: Severance and benefits $ 4,667 $ 4,667 Other costs 159 159 Total July 2023 Restructuring Plan 4,826 4,826 September 2023 Restructuring Plan: Severance and benefits 959 959 Other costs 88 88 Total September 2023 Restructuring Plan 1,047 1,047 Total restructuring charges (credits) $ 5,873 $ 5,873 The following table summarizes the restructuring reserve activities during the nine months ended October 1, 2023: Nine Months Ended (In thousands) July 2, 2023 Charges (Benefits) (Payments) Recoveries October 1, 2023 July 2023 Restructuring Plan: Severance and benefits $ — $ 4,667 $ (4,167) $ 500 Other costs — 159 — 159 Total July 2023 Restructuring Plan — 4,826 (4,167) 659 September 2023 Restructuring Plan: Severance and benefits — 959 (32) 927 Other costs — 88 — 88 Total September 2023 Restructuring Plan — 1,047 (32) 1,015 Total restructuring reserve activities $ — $ 5,873 $ (4,199) $ 1,674

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Oct. 01, 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 Nine Months Ended (In thousands) October 1, 2023 October 2, 2022 October 1, 2023 October 2, 2022 (As Restated) (As Restated) Operating lease expense $ 3,676 $ 3,609 $ 10,958 $ 10,188 Finance lease expense: Amortization expense 1,285 615 3,091 764 Interest expense on lease liabilities 354 111 817 142 Sublease income (515) (429) (1,556) (620) Total $ 4,800 $ 3,906 $ 13,310 $ 10,474 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows for operating leases $ 4,191 $ 4,565 $ 12,091 $ 13,404 Operating cash flows for finance leases 354 111 817 142 Financing cash flows for finance leases 1,285 615 3,091 764 Right-of-use assets and property, plant, and equipment obtained in exchange for leases: Operating leases $ 197 $ 12,479 $ 4,006 $ 12,988 Finance leases 5,939 3,338 14,603 7,526 As of October 1, 2023 January 1, 2023 Weighted-average remaining lease term (in years): Operating leases 3.6 3.7 Finance leases 3.5 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 October 1, 2023, are as follows: Operating Leases Finance Leases As of October 1, 2023 (In thousands) 2023 (remaining three months) $ 3,022 $ 1,806 2024 13,252 7,201 2025 9,489 7,116 2026 7,841 5,635 2027 4,932 2,207 Thereafter 2,090 307 Total lease payments 40,626 24,272 Less: imputed interest (5,452) (2,605) Total $ 35,174 $ 21,667 Purchase Commitments Future purchase obligations under non-cancellable purchase orders and long-term supply agreements as o f October 1, 2023 are as follows: (In thousands) Fiscal 2023 (remaining three months) Fiscal 2024 Fiscal 2025 Fiscal 2026 Fiscal 2027 Thereafter Total Future purchase obligations $ 45,833 $ 22,193 $ 5,988 $ 5,838 $ 5,844 $ 4,167 $ 89,863 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 November 13, 2023, we terminated both Master Supply Agreements with Maxeon Solar, and entered into a new Master Supply Agreement. 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 nine months ended October 1, 2023 and October 2, 2022: Three Months Ended Nine Months Ended October 1, 2023 October 2, 2022 October 1, 2023 October 2, 2022 (In thousands) (As Restated) (As Restated) Balance at the beginning of the period $ 83,101 $ 75,813 $ 74,751 $ 80,592 Accruals for warranties issued during the period 6,821 6,163 27,838 10,490 Settlements and adjustments during the period (8,859) (6,103) (21,526) (15,209) Balance at the end of the period $ 81,063 $ 75,873 $ 81,063 $ 75,873 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 nine months ended October 1, 2023, we recorded an additional $0.3 million and $9.0 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. During the three and nine months ended October 2, 2022, we recorded an additional $2.3 million of warranty expenses related to the above noted indemnifications. Liabilities Associated with Uncertain Tax Positions Total liabilities associated with uncertain tax positions were $13.1 million and $12.3 million as of October 1, 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 October 1, 2023 and January 1, 2023, our provision was $8.2 million, primarily for tax-related indemnifications. In addition, as of October 1, 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 within “accrued liabilities,” “contract liabilities,” and “other long-term liabilities” 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 October 1, 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 $2.8 million as of October 1, 2023. In addition, as of October 1, 2023, we have retained a total of $27.6 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. On December 13, 2023, SunPower received an additional claim notice from Total seeking further indemnification in the amount of $12.8 million related to issues involving repairs and work performed at certain sites related to system components supplied by third parties. SunPower is in the process of evaluating these claims. Legal Matters Edelman v. TotalEnergies SE et al., No. 2023-0136 (Del. Ch.) As previously disclosed, on February 6, 2023, Plaintiff Jeffrey Edelman filed a putative stockholder derivative complaint in the Delaware Court of Chancery, purportedly on behalf of SunPower, against Total SE, HoldCo, TotalEnergies Renewables, Francois Badoual, Bernadette Baudier, Peter Faricy, Vinayak Hegde, Catherine A. Lesjak, Thomas R. McDaniel, Nathalie Portes-Laville, Julien Pouget, Vincent Stoquart, Denis Toulouse, Franck Trochet, Thomas H. Werner, Laurent Wolffsheim, and Patrick Wood III, current or former directors and officers of the Company. On July 7, 2023, the stockholder filed an amended derivative complaint against TotalEnergies SE, TotalEnergies Gaz & Electricité Holdings SAS, TotalEnergies Solar INTL SAS and TotalEnergies Renewables USA, LLC, as well as the Company’s current and former directors and officers. The amended complaint likewise alleges breach of fiduciary duty and unjust enrichment related to the acquisition of the Company’s C&I Solutions business by TotalEnergies Renewables and seeks monetary damages from the defendants on behalf of the Company, together with costs and attorney’s fees. In September 2023, certain defendants answered the amended complaint, and others moved to dismiss the amended complaint. The Company cannot reasonably estimate any loss or range of loss that may arise from the litigation. We are also 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	9 Months Ended
	Oct. 01, 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 October 1, 2023 January 1, 2023 (In thousands) (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 34,523 26,419 Other equity investments without readily determinable fair value 280 280 Total equity investments without readily determinable fair value 39,803 31,699 Equity investments with FVO: SunStrong Capital Holdings, LLC 12,110 9,871 Dorado Development Partners, LLC 17,181 8,173 SunStrong Partners, LLC 303 302 Total equity investment with FVO 29,594 18,346 Total equity investments $ 69,397 $ 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 $0.8 million and $1.2 million during the three and nine months ended October 1, 2023, respectively, as compared to earnings from equity method investments of $0.2 million recorded during the three and nine months ended October 2, 2022. In addition, during the nine months ended October 1, 2023, we received a dividend from one of our investees in the amount of $0.7 million, as compared to the $0.3 million dividend received from one of our investees during the three months ended October 2, 2022. 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 $17.2 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. In September 2023, the Dorado DevCo joint venture was modified to add another tax equity fund with Bank of America Merrill Lynch (“BAML”). This resulted in two new Limited Liability Company's (“LLCs”), Dorado 2 Residential Solar, LLC and Dorado 2 Class B Member, LLC. Additionally, existing warehouse and mezzanine loan facilities under the Dorado DevCo were amended, upsized, and extended to support the new tax equity fund. Other than the foregoing, the overall Dorado DevCo structure remains unchanged. SunStrong remains the manager of the Dorado DevCo joint venture and continues to have the power to make decisions over the activities of the Dorado DevCo and its subsidiaries. During the three and nine months ended October 1, 2023, we made $0.1 million and $7.2 million of capital contributions in the Dorado DevCo equity method investee. These investments contributed to our equity investment balances in the Dorado DevCo joint venture and are 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 nine months ended October 1, 2023, we made $1.3 million and $1.9 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. 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 Nine Months Ended (In thousands) October 1, 2023 October 2, 2022 October 1, 2023 October 2, 2022 Summarized statements of operations information: Revenues $ 43,621 $ 37,444 $ 120,780 $ 109,604 Net (loss) income 1,557 2,307 (9,130) (4,817) Net (loss) income attributable to parents 5,177 7,201 5,154 15,983 As of (In thousands) October 1, 2023 January 1, 2023 Summarized balance sheet information: Current assets $ 102,997 $ 88,561 Long-term assets 2,073,553 1,823,437 Current liabilities 74,489 94,414 Long-term liabilities 1,514,828 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) October 1, 2023 January 1, 2023 Accounts receivable $ 60,495 $ 33,864 Loan receivables held for sale, net 17,040 — Prepaid expenses and other current assets 6,720 3,959 Other long-term assets 6,549 6,549 Accounts payable 742 165 Accrued liabilities 858 97 Contract liabilities 186,112 63,504 Three Months Ended Nine Months Ended October 1, 2023 October 2, 2022 October 1, 2023 October 2, 2022 (In thousands) (As Restated) (As Restated) Revenues and fees received from investees for products/services $ 145,336 $ 77,770 $ 348,080 $ 170,631 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 $0.7 million and $7.3 million for the three and nine months ended October 1, 2023, respectively. Total revenue was $5.4 million and $13.5 million for the three and nine months ended October 2, 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 October 1, 2023, we had $23.1 million of assets from the consolidated VIEs.

Debt and Credit Sources

Debt and Credit Sources	9 Months Ended
	Oct. 01, 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: October 1, 2023 January 1, 2023 (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 3 246,250 242,319 — 242,319 — — — — Other debt — — — — 11,733 11,733 — 11,733 Total recourse debt $ 246,250 $ 242,319 $ — $ 242,319 $ 436,724 $ 436,652 $ — $ 436,652 Non-Recourse Debt: Credit Suisse Warehouse Loan 3 $ 65,272 $ 63,991 $ — $ 63,991 $ 71,577 $ 70,443 $ — $ 70,443 Other debt 336 65 255 320 371 64 308 372 Total non-recourse debt 65,608 64,056 255 64,311 71,948 70,507 308 70,815 Total $ 311,858 $ 306,375 $ 255 $ 306,630 $ 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. 3 Classified as a current liability as of October 1, 2023 due to breaches of certain contractual covenants. As of October 1, 2023, the aggregate future contractual maturities of our outstanding debt, at face value, were as follows: (In thousands) (as restated) Fiscal 2023 (remaining three months) Fiscal 2024 Fiscal 2025 Fiscal 2026 Fiscal 2027 Thereafter Total Aggregate future maturities of outstanding debt $ 1,267 $ 310,341 $ 73 $ 76 $ 80 $ 21 $ 311,858 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 letters of credit issued under the facility are 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. In September 2023, we entered into an amendment of the letter of credit facility with Bank of the West to reduce the letters of credit commitments to an amount not to exceed $5.0 million. The letters of credit issued under the facility remain 50% cash secured. As of October 1, 2023, letters of credit issued and outstanding under the Bank of the West facility totaled $5.0 million, which were collateralized with $2.5 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 October 1, 2023, we had $65.3 million borrowings outstanding under the term loan facility, of which $0.6 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 October 1, 2023. All borrowings outstanding under the term loan facility have a weighted average interest rate of between 6.3% to 6.8%. 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 $100.0 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%, (b) Bank of America's “prime rate,” or (c) Term SOFR plus 1%, plus, in each case, a margin; or (2) Term 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 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 October 1, 2023, we had borrowings of $96.6 million and $149.6 million under the Term Loan Facility and Revolver, respectively. The interest rate for the borrowings is Term SOFR plus a margin. In addition, as of October 1, 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	9 Months Ended
	Oct. 01, 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 October 1, 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) October 1, 2023 January 1, 2023 Accounts receivable $ 490 $ 489 Prepaid expenses and other current assets 2,107 2,898 Other long-term assets — 1,284 Accrued liabilities 121 8,033 Three Months Ended Nine Months Ended (In thousands) October 1, 2023 October 2, 2022 October 1, 2023 October 2, 2022 Expense (income) from transition services agreement, net $ 146 $ (1,095) $ (44) $ (1,613) Sublease income (recorded in sales, general, and administrative expense) — (214) — (285) Interest expense: Interest expense incurred on the 4.00% debentures due 2023 — 1,000 171 3,000 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 nine months ended October 1, 2023: Three Months Ended Nine Months Ended (In thousands) October 1, 2023 October 2, 2022 October 1, 2023 October 2, 2022 Purchases of photovoltaic modules (recorded in cost of revenues) $ 24,124 $ 68,060 $ 173,014 $ 203,121 Research and development expenses reimbursement received 129 840 1,135 18,375 Sublease income (recorded in sales, general, and administrative expense) 468 176 1,404 176 (Expense) income from transition services agreement, net (24) (36) (74) (326) We had the following balances related to transactions with Maxeon Solar as of October 1, 2023: As of (In thousands) October 1, 2023 January 1, 2023 Prepaid and other current assets $ 419 $ 607 Accrued liabilities 7,959 11,239 Accounts payable 3,697 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 11. Equity Investments for related-party transactions with SunStrong, SunStrong Partners, Dorado DevCo, and our dealer accelerator equity investees.

Income Taxes

Income Taxes	9 Months Ended
	Oct. 01, 2023
Income Tax Disclosure [Abstract]
Income Taxes	INCOME TAXES In the three months ended October 1, 2023, our income tax benefit of $0.1 million on a loss from continuing operations before income taxes and equity in earnings of unconsolidated investees of $38.7 million, was primarily due to the benefit of operating losses that reduce our state tax on sale of equity investments, partially offset by the accrual for uncertain tax positions. Our income tax provision of $2.4 million in the three months ended October 2, 2022 on an income from continuing operations before income taxes of $141.4 million was primarily due to state taxes on realized gains from sale of equity investments, partially offset by a net tax benefit from prior year uncertain tax positions. In the nine months ended October 1, 2023, our income tax provision of $1.6 million on a loss from continuing operations before income taxes and equity in earnings of unconsolidated investees of $113.2 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 $6.5 million in the nine months ended October 2, 2022 on an income from continuing operations before income taxes of $83.9 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 our ability to utilize net operating losses in 2022, partially offset by state tax expense on realized gains from sale of equity investments. During the three and nine months ended October 1, 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. For the three and nine months ended October 1, 2023, our income tax benefit on the loss from discontinued operations before income taxes of $1.9 million and $12.1 million was $0.2 million and $0.4 million, respectively. In the three and nine months ended October 2, 2022, our income tax benefit of $0.4 million and $0.8 million on a loss from discontinued operations before income taxes of $2.4 million and $50.3 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 uncertain tax positions were $13.1 million and $12.3 million as of October 1, 2023 and January 1, 2023, respectively. The increase of $0.8 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	9 Months Ended
	Oct. 01, 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 Nine Months Ended October 1, 2023 October 2, 2022 October 1, 2023 October 2, 2022 (In thousands, except per share amounts) (As Restated) (As Restated) Basic net (loss) income per share: Numerator: Net (loss) income attributable to stockholders - continuing operations 1 $ (35,648) $ 137,651 $ (111,491) $ 88,629 Net (loss) income attributable to stockholders - discontinued operations (1,716) (2,037) (11,717) (49,205) Net (loss) income attributable to stockholders $ (37,364) $ 135,614 $ (123,208) $ 39,424 Denominator: Basic weighted-average common shares 175,241 174,118 174,937 173,815 Basic net (loss) income per share - continuing operations $ (0.20) $ 0.79 $ (0.64) $ 0.51 Basic net (loss) income per share - discontinued operations (0.01) (0.01) (0.07) (0.28) Basic net (loss) income per share $ (0.21) $ 0.78 $ (0.71) $ 0.23 Diluted net (loss) income per share: Numerator: Net (loss) income available to stockholders - continuing operations $ (35,648) $ 137,651 $ (111,491) $ 88,629 Add: Interest expense on 4.00% debentures due 2023, net of tax — 3,026 — 9,078 Net (loss) income available to common stockholders - continuing operations (35,648) 140,677 (111,491) 97,707 Net (loss) income available to common stockholders - discontinued operations $ (1,716) $ (2,037) $ (11,717) $ (49,205) Denominator: Basic weighted-average common shares 175,241 174,118 174,937 173,815 Effect of dilutive securities: Restricted stock units — 1,311 — 706 4.00% debentures due 2023 — 17,068 — 17,068 Dilutive weighted-average common shares: 175,241 192,497 174,937 191,589 Dilutive net (loss) income per share - continuing operations $ (0.20) $ 0.73 $ (0.64) $ 0.51 Dilutive net (loss) income per share - discontinued operations (0.01) (0.01) (0.07) (0.26) Dilutive net (loss) income per share $ (0.21) $ 0.72 $ (0.71) $ 0.25 1 There was no add back of interest expense for the convertible debentures or effect of dilutive securities for the nine months ended October 1, 2023. 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 Nine Months Ended (In thousands) October 1, 2023 October 2, 2022 October 1, 2023 October 2, 2022 Restricted stock units 4,722 1,119 4,503 3,422 4.00% debentures due 2023 — — 1,000 —

Stock-Based Compensation

Stock-Based Compensation	9 Months Ended
	Oct. 01, 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 Nine Months Ended (In thousands) October 1, 2023 October 2, 2022 October 1, 2023 October 2, 2022 Cost of revenues $ 887 $ 1,144 $ 4,040 $ 3,494 Research and development 446 454 1,671 1,293 Sales, general, and administrative 4,270 4,959 15,428 14,222 Total stock-based compensation expense $ 5,603 $ 6,557 $ 21,139 $ 19,009

Subsequent Events

Subsequent Events	9 Months Ended
	Oct. 01, 2023
Subsequent Events [Abstract]
Subsequent Events	SUBSEQUENT EVENTS Restructuring Plan On October 30, 2023, we adopted a restructuring plan to align operating costs with current market conditions characterized by higher interest rates and slower consumer demand. The plan is intended to preserve near-term financial strength in order to remain competitive during current and future market conditions. As part of the restructuring plan, we expect approximately 83 employees representing severance costs of approximately $2.6 million to exit. We also expect to impair approximately $4.3 million, primarily in capitalized internal-use software and equipment related to development of new products due to management’s determination to cancel these projects. The actual timing and costs of the plan may differ from our current plan. The plan is expected to be substantially complete by January 31, 2024. Legal Matters Jaszczyszyn v. SunPower Corporation, et al. , No. 3:22-cv-00956-AMO (N.D. Cal.) As previously disclosed, on February 16, 2022, a purported securities class action lawsuit was filed against the Company, its Chief Executive Officer (Peter Faricy), and its former Chief Financial Officer (Manavendra Sial) (the “Defendants”) in the United States District Court for the Northern District of California by putative shareholder Piotr Jaszczyszyn purportedly on behalf of a class consisting of those who acquired the Company's securities from August 3, 2021 to January 20, 2022. Defendants filed a motion to dismiss the amended complaint on February 24, 2023. After briefing on the motion was completed, the Court heard oral argument on the motion on October 26, 2023, and the motion was submitted for decision. The Company intends to vigorously defend the purported securities class action lawsuit and cannot reasonably estimate any loss or range of loss that may arise from the litigation. Accordingly, the Company can provide no assurance as to the scope and outcome of this matter and no assurance as to whether it will have a material adverse effect on the Company’s financial position, liquidity, or results of operations. Craven v. SunPower Corporation, et al. , No. 3:23-cv-05544-RFL (N.D. Cal.); Simpson v. SunPower Corporation, et al. , No. 3:23-cv-06302-RFL (N.D. Cal.) On October 27, 2023, a purported securities class action lawsuit was filed in the United States District Court for the Northern District of California by putative shareholder Jacob Craven purportedly on behalf of a class consisting of those who acquired the Company's securities from March 9, 2023 to October 24, 2023 (the “ Craven Complaint”). On December 6, 2023, another purported securities class action lawsuit was filed in the United States District Court for the Northern District of California by putative shareholder Matthew Simpson purportedly on behalf of the same alleged class (the “ Simpson Complaint”). The Craven C omplaint and the Simpson Complaint name the Company, its Chief Executive Officer (Peter Faricy), its Chief Financial Officer (Elizabeth Eby), and its former Interim Chief Financial Officer (Guthrie Dundas) as defendants. The Craven Complaint and the Simpson Complaint allege violations of Sections 10(b) and 20(a) of the Exchange Act and allege that the defendants misled investors by failing to disclose that: (1) due to a material weakness in its internal control over financial reporting, the Company had inaccurately reported cost of revenue and inventory metrics; (2) as a result of the foregoing, the Company was reasonably likely to incur significant charges to restate prior reporting; and (3) as a result of the foregoing, defendants’ statements about the Company’s business, operations, and prospects allegedly were materially misleading and/or lacked a reasonable basis. The Craven Complaint and the Simpson Complaint seek monetary damages for alleged securities law violations, together with costs and attorney’s fees. The Company intends to vigorously defend the purported securities class action lawsuits and cannot reasonably estimate any loss or range of loss that may arise from the litigations. Accordingly, the Company can provide no assurance as to the scope and outcome of these matters and no assurance as to whether they will have a material adverse effect on the Company’s financial position, liquidity, or results of operations. Amendment and Waiver On December 8, 2023, the Company obtained the Amendment and Waiver amending the Amended Credit Agreement by and among the Company, certain of its subsidiaries as guarantors, 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 $25 million of new revolving credit. Although we entered into the Amendment and Waiver to temporarily address the Existing Defaults, we are projecting to be noncompliant with certain debt covenants, which would cause further defaults or an event of default under our existing debt arrangements. Dorado Credit Agreement The Company received a reservation of rights letter from the administrative agent under (on behalf of the lenders thereunder) that certain credit agreement, dated as of March 31, 2022, by and among (inter alia) Dorado 1 Senior Borrower, LLC and Dorado 1 Senior Pledgor, LLC (each of which are non-wholly owned subsidiaries of Company), Bank of America N.A., as administrative agent, Computershare Trust Company, National Association, as the collateral agent and the financial institutions party thereto from time to time as lenders (as amended, the “Dorado Credit Agreement”) as a result of the Restatement. We are in active discussions with this lender group, who are aware that SunPower does not agree that there has been any such breach of representation.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 01, 2023	Oct. 02, 2022	Oct. 01, 2023	Oct. 02, 2022
Pay vs Performance Disclosure
Net (loss) income attributable to parents	$ (37,364)	$ 135,614	$ (123,208)	$ 39,424

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Oct. 01, 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 Sig

Organization and Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Oct. 01, 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 nine months ended October 1, 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 third quarter of fiscal 2023 ended on October 1, 2023, while the third quarter of fiscal 2022 ended on October 2, 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 11. 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.
Recent Accounting Pronouncements Not Yet Adopted	Recent Accounting Pronouncements Not Yet Adopted In October 2023, the FASB issued ASU 2023-06, Disclosure Agreements – Codification Amendments in Response to the SEC’s Disclosure Update and Simplification Initiative. This amendment will impact various disclosure areas, including the statement of cash flows, accounting changes and error corrections, earnings per share, debt, equity, derivatives, and transfers of financial assets. The amendments in this ASU 2023-06 will be effective on the date the related disclosures are removed from Regulation S-X or Regulation S-K by the SEC, and will no longer be effective if the SEC has not removed the applicable disclosure requirement by June 30, 2027. Early adoption is prohibited. We are currently evaluating the impacts of the amendment on our disclosures.

Restatement of Condensed Cons_2

Restatement of Condensed Consolidated Financial Statements (Tables)	9 Months Ended
	Oct. 01, 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 January 1, 2023 (In thousands) As Previously Reported Restatement Adjustments Restatement Reference As Restated Assets Current assets: Cash and cash equivalents $ 377,026 $ — $ 377,026 Restricted cash and cash equivalents, current portion 9,855 813 c 10,668 Short-term investments 132,480 — 132,480 Accounts receivable, net 174,577 (4,903) c 169,674 Contract assets 50,692 6,378 c 57,070 Inventories 316,815 (21,084) a, c 295,731 Advances to suppliers, current portion 9,309 2,750 a 12,059 Prepaid expenses and other current assets 197,760 51 a, c 197,811 Total current assets 1,268,514 (15,995) 1,252,519 Restricted cash and cash equivalents, net of current portion 15,151 3,661 c 18,812 Property, plant and equipment, net 74,522 1,951 c 76,473 Operating lease right-of-use assets 36,926 — 36,926 Solar power systems leased, net 41,779 — 41,779 Goodwill 126,338 (340) c 125,998 Other intangible assets, net 24,192 — 24,192 Other long-term assets 192,585 (5,658) c 186,927 Total assets $ 1,780,007 $ (16,381) $ 1,763,626 Liabilities and Equity Current liabilities: Accounts payable $ 242,229 $ 910 a, c $ 243,139 Accrued liabilities 145,229 2,890 a, c 148,119 Operating lease liabilities, current portion 11,356 — 11,356 Contract liabilities, current portion 144,209 (2,346) c 141,863 Short-term debt, net 82,404 (164) c 82,240 Convertible debt, current portion 424,919 — 424,919 Current liabilities of discontinued operations — — — Total current liabilities 1,050,346 1,290 1,051,636 Long-term debt, net 308 — 308 Operating lease liabilities, net of current portion 29,347 — 29,347 Contract liabilities, net of current portion 11,555 33 c 11,588 Other long-term liabilities 112,797 1,905 c 114,702 Long-term liabilities of discontinued operations — — — Total liabilities 1,204,353 3,228 1,207,581 Commitments and contingencies (Note 10) Equity: Preferred stock — — — Common stock 174 — 174 Additional paid-in capital 2,855,930 — 2,855,930 Accumulated deficit (2,066,175) (19,609) a, c (2,085,784) Accumulated other comprehensive income 11,568 — 11,568 Treasury stock, at cost (226,646) — (226,646) Total stockholders' equity 574,851 (19,609) 555,242 Noncontrolling interests in subsidiaries 803 — 803 Total equity 575,654 (19,609) 556,045 Total liabilities and equity $ 1,780,007 $ (16,381) $ 1,763,626 Summary of Restatement - Condensed Consolidated Statements of Operations Three Months Ended Nine Months Ended October 2, 2022 October 2, 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 $ 475,711 $ 682 c $ 476,393 $ 1,243,760 $ 215 c $ 1,243,975 Total cost of revenues 370,264 (10,536) a-c 359,728 984,505 (29,767) a-c 954,738 Gross profit 105,447 11,218 116,665 259,255 29,982 289,237 Operating expenses: Research and development 6,784 62 c 6,846 19,199 — 19,199 Sales, general, and administrative 87,124 14,061 b, c 101,185 257,163 37,249 b, c 294,412 Restructuring charges (credits) 111 — 111 244 — 244 (Income) expense from transition services agreement, net (1,059) — (1,059) (1,287) — (1,287) Total operating expenses 92,960 14,123 107,083 275,319 37,249 312,568 Operating income (loss) 12,487 (2,905) 9,582 (16,064) (7,267) (23,331) Other income (expense), net: Interest income 144 — 144 278 — 278 Interest expense (4,216) 504 c (3,712) (15,224) 1 c (15,223) Other, net 135,368 — 135,368 122,160 — 122,160 Other income (expense), net 131,296 504 131,800 107,214 1 107,215 Income (loss) from continuing operations before income taxes and equity in earnings (losses) of unconsolidated investees 143,783 (2,401) 141,382 91,150 (7,266) 83,884 (Provision for) benefits from income taxes (3,109) 667 c (2,442) 5,308 1,172 c 6,480 Equity in earnings (losses) of unconsolidated investees 1,958 (22) c 1,936 1,958 (22) c 1,936 Net income (loss) from continuing operations 142,632 (1,756) 140,876 98,416 (6,116) 92,300 (Loss) income from discontinued operations before income taxes and equity in earnings (losses) of unconsolidated investees — (2,395) c (2,395) (47,155) (3,098) c (50,253) Benefits from (provision for) income taxes from discontinued operations — 358 c 358 584 214 c 798 Net (loss) income from discontinued operations — (2,037) (2,037) (46,571) (2,884) (49,455) Net income (loss) 142,632 (3,793) 138,839 51,845 (9,000) 42,845 Net (income) loss from continuing operations attributable to noncontrolling interests (3,225) — (3,225) (3,671) — (3,671) Net loss (income) from discontinued operations attributable to noncontrolling interests — — — 250 — 250 Net (income) loss attributable to noncontrolling interests (3,225) — (3,225) (3,421) — (3,421) Net income (loss) from continuing operations attributable to stockholders 139,407 (1,756) 137,651 94,745 (6,116) 88,629 Net (loss) income from discontinued operations attributable to stockholders — (2,037) (2,037) (46,321) (2,884) (49,205) Net income (loss) attributable to stockholders $ 139,407 $ (3,793) $ 135,614 $ 48,424 $ (9,000) $ 39,424 Net income (loss) per share attributable to stockholders - basic: Continuing operations $ 0.80 $ (0.01) a, c $ 0.79 $ 0.55 $ (0.04) a, c $ 0.51 Discontinued operations $ — $ (0.01) c $ (0.01) $ (0.27) $ (0.01) c $ (0.28) Net income (loss) per share – basic $ 0.80 $ (0.02) a, c $ 0.78 $ 0.28 $ (0.05) a, c $ 0.23 Net income (loss) per share attributable to stockholders - diluted: Continuing operations $ 0.74 $ (0.01) a, c $ 0.73 $ 0.54 $ (0.03) a, c $ 0.51 Discontinued operations $ — $ (0.01) c $ (0.01) $ (0.24) $ (0.02) c $ (0.26) Net income (loss) per share – diluted $ 0.74 $ (0.02) a, c $ 0.72 $ 0.30 $ (0.05) a, c $ 0.25 Weighted-average shares: Basic 174,118 — 174,118 173,815 — 173,815 Diluted 192,497 — 192,497 191,589 — 191,589 Summary of Restatement - Condensed Consolidated Statement of Cash Flows Nine Months Ended October 2, 2022 (In thousands) As Previously Reported Restatement Adjustments Restatement Reference As Restated Cash flows from operating activities: Net income (loss) $ 51,845 $ (9,000) a, c $ 42,845 Adjustments to reconcile net income (loss) to net cash used in operating activities: Depreciation and amortization 21,704 557 c 22,261 Amortization of cloud computing arrangements 3,392 157 c 3,549 Stock-based compensation 19,056 — 19,056 Amortization of debt issuance costs 2,556 — 2,556 Equity in (earnings) losses of unconsolidated investees (1,958) 22 c (1,936) (Gain) loss on equity investments (120,965) — (120,965) Unrealized (gain) loss on derivatives (2,304) — (2,304) Dividend from equity method investees 133 — 133 Deferred income taxes (12,606) (53) c (12,659) Other, net 128 — 128 Changes in operating assets and liabilities: Accounts receivable (66,254) 452 c (65,802) Contract assets 2,326 (2,644) c (318) Inventories (22,787) 8,023 a, c (14,764) Project assets 295 — 295 Prepaid expenses and other assets (212,164) 7,176 a, c (204,988) Operating lease right-of-use assets 8,424 188 c 8,612 Advances to suppliers (6,288) — (6,288) Accounts payable and other accrued liabilities 77,844 (3,213) a, c 74,631 Contract liabilities 98,663 (366) c 98,297 Operating lease liabilities (10,906) (922) c (11,828) Net cash (used in) provided by operating activities (169,866) 377 (169,489) Cash flows from investing activities: Purchases of property, plant, and equipment (36,958) — (36,958) Investments in software development costs (4,225) — (4,225) 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 (30,920) — (30,920) Proceeds from sale of equity investment 440,108 — 440,108 Cash paid for investments in unconsolidated investees (5,742) — (5,742) Dividend from equity method investee, in excess of cumulative earnings 137 — 137 Net cash provided by (used in) investing activities 508,703 — 508,703 Cash flows from financing activities: Proceeds from bank loans and other debt 124,729 — 124,729 Repayment of bank loans and other debt (167,003) 102 c (166,901) Payments for financing leases (735) (29) c (764) Purchases of stock for tax withholding obligations on vested restricted stock (10,462) — (10,462) Net cash (used in) provided by financing activities (53,471) 73 (53,398) Net increase (decrease) in cash, cash equivalents, and restricted cash 285,366 450 285,816 Cash, cash equivalents, and restricted cash, beginning of period 148,613 3,986 152,599 Cash, cash equivalents, and restricted cash, end of period $ 433,979 $ 4,436 $ 438,415 Reconciliation of cash, cash equivalents, and restricted cash to the condensed consolidated balance sheets: Cash and cash equivalents $ 396,510 $ — $ 396,510 Restricted cash and cash equivalents, current portion 13,204 805 c 14,009 Restricted cash and cash equivalents, net of current portion 24,265 3,631 c 27,896 Total cash, cash equivalents, and restricted cash $ 433,979 $ 4,436 $ 438,415 Supplemental disclosure of non-cash activities: Property, plant and equipment acquisitions funded by liabilities (including financing leases) $ 9,130 $ (48) c $ 9,082 Right-of-use assets obtained in exchange for lease obligations $ 14,005 $ (1,017) c $ 12,988 Working capital adjustment related to C&I Solutions sale $ 7,005 $ — $ 7,005 Supplemental cash flow disclosures: Cash paid for interest $ 20,323 $ — $ 20,323 Cash paid for income taxes $ 5,187 $ — $ 5,187

Transactions With Total and T_2

Transactions With Total and Total Energies SE (Tables)	9 Months Ended
	Oct. 01, 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) October 1, 2023 January 1, 2023 Accounts receivable $ 490 $ 489 Prepaid expenses and other current assets 2,107 2,898 Other long-term assets — 1,284 Accrued liabilities 121 8,033 Three Months Ended Nine Months Ended (In thousands) October 1, 2023 October 2, 2022 October 1, 2023 October 2, 2022 Expense (income) from transition services agreement, net $ 146 $ (1,095) $ (44) $ (1,613) Sublease income (recorded in sales, general, and administrative expense) — (214) — (285) Interest expense: Interest expense incurred on the 4.00% debentures due 2023 — 1,000 171 3,000 Related-party transactions and balances with SunStrong, SunStrong Partners, Dorado DevCo, and our dealer accelerator equity investees are as follows: As of (In thousands) October 1, 2023 January 1, 2023 Accounts receivable $ 60,495 $ 33,864 Loan receivables held for sale, net 17,040 — Prepaid expenses and other current assets 6,720 3,959 Other long-term assets 6,549 6,549 Accounts payable 742 165 Accrued liabilities 858 97 Contract liabilities 186,112 63,504 Three Months Ended Nine Months Ended October 1, 2023 October 2, 2022 October 1, 2023 October 2, 2022 (In thousands) (As Restated) (As Restated) Revenues and fees received from investees for products/services $ 145,336 $ 77,770 $ 348,080 $ 170,631 The below table summarizes our transactions with Maxeon Solar for the three and nine months ended October 1, 2023: Three Months Ended Nine Months Ended (In thousands) October 1, 2023 October 2, 2022 October 1, 2023 October 2, 2022 Purchases of photovoltaic modules (recorded in cost of revenues) $ 24,124 $ 68,060 $ 173,014 $ 203,121 Research and development expenses reimbursement received 129 840 1,135 18,375 Sublease income (recorded in sales, general, and administrative expense) 468 176 1,404 176 (Expense) income from transition services agreement, net (24) (36) (74) (326) We had the following balances related to transactions with Maxeon Solar as of October 1, 2023: As of (In thousands) October 1, 2023 January 1, 2023 Prepaid and other current assets $ 419 $ 607 Accrued liabilities 7,959 11,239 Accounts payable 3,697 38,486 Other long-term liabilities 1,458 1,458

Revenue from Contracts with C_2

Revenue from Contracts with Customers (Tables)	9 Months Ended
	Oct. 01, 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 nine months ended October 1, 2023 and October 2, 2022: Three Months Ended Nine Months Ended October 1, 2023 October 2, 2022 October 1, 2023 October 2, 2022 (In thousands) (As Restated) (As Restated) Solar power systems sales $ 348,052 $ 360,223 $ 1,059,536 $ 951,694 Component sales 74,285 105,303 249,097 239,722 Light commercial sales (50) 4,918 562 43,683 Services and other 8,403 5,949 19,122 8,876 Total revenues $ 430,690 $ 476,393 $ 1,328,317 $ 1,243,975
Schedule of Contract Asset and Contract Liability	Total contract assets and contract liabilities balances as of the respective dates are as follows: As of October 1, 2023 January 1, 2023 (In thousands) (As Restated) Contract assets $ 37,438 $ 57,379 Contract liabilities 1 $ 242,396 $ 153,451 1 As of October 1, 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)	9 Months Ended
	Oct. 01, 2023
Balance Sheet Related Disclosures [Abstract]
Schedule of Accounts Receivable, Net	Accounts Receivable, Net As of October 1, 2023 January 1, 2023 (In thousands) (As Restated) Accounts receivable, gross $ 217,748 $ 184,733 Less: allowance for credit losses (13,829) (14,750) Less: allowance for sales returns (230) (309) Accounts receivable, net $ 203,689 $ 169,674
Schedule of Accounts Receivable, Allowance for Credit Loss	Allowance for Credit Losses Three Months Ended Nine Months Ended (In thousands) October 1, 2023 October 2, 2022 October 1, 2023 October 2, 2022 Balance at beginning of period $ 13,871 $ 15,659 $ 14,750 $ 14,375 Provision (recoveries) for credit losses 33 (74) 1,340 1,854 Write-offs (75) (330) (2,261) (974) Balance at end of period $ 13,829 $ 15,255 $ 13,829 $ 15,255
Schedule of Inventory	Inventories As of October 1, 2023 January 1, 2023 (In thousands) (As Restated) Photovoltaic modules $ 172,178 $ 136,006 Microinverters 54,610 48,645 Energy storage systems 47,106 62,861 Other solar power system component materials 50,590 48,219 Inventories 1 $ 324,484 $ 295,731 1
Schedule of Prepaid Expenses and Other Current Assets	Prepaid Expenses and Other Current Assets As of October 1, 2023 January 1, 2023 (In thousands) (As Restated) Deferred project costs $ 74,777 $ 125,604 Deferred costs for solar power systems 118,302 34,124 Related-party receivables 7,499 3,959 Other 32,980 34,124 Prepaid expenses and other current assets $ 233,558 $ 197,811
Schedule of Property, Plant and Equipment, Net	Property, Plant and Equipment, Net As of October 1, 2023 January 1, 2023 (In thousands) (As Restated) Testing equipment and tools $ 1,973 $ 1,157 Leasehold improvements 17,137 16,960 Solar power systems 12,709 10,271 Computer equipment 15,015 14,411 Internal-use software 82,515 71,477 Furniture and fixtures 7,895 8,088 Transportation equipment 6,481 3,941 Vehicle finance leases 26,221 12,316 Work-in-progress 9,187 5,958 Property, plant and equipment, gross 2 179,133 144,579 Less: accumulated depreciation and impairment 2,3 (73,064) (68,106) Property, plant, and equipment, net 1,3 $ 106,069 $ 76,473 1 Property, plant, and equipment is predominantly located in the U.S. 2 Our property, plant, and equipment includes fully depreciated fixed assets. When any of 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 October 1, 2023 and January 1, 2023, $21.9 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 nine months ended October 1, 2023, we recorded depreciation expense, including accretion expense related to our asset retirement obligations, of $11.4 million and $30.5 million, respectively. For the three and nine months ended October 2, 2022, we recorded depreciation expense of $6.0 million and $14.0 million, respectively.
Schedule of Other Long-Term Assets	Other Long-term Assets As of October 1, 2023 January 1, 2023 (In thousands) (As Restated) Equity investments without readily determinable fair value $ 39,803 $ 31,699 Equity investments with fair value option (“FVO”) 29,594 18,346 Cloud computing arrangements (“CCA”) implementation costs, net of current portion 1 2,759 7,934 Deposits with related parties 6,549 7,329 Retail installment contract receivables, net of current portion 2, 3 88,026 98,001 Long-term deferred project costs 2,837 3,109 Derivative assets 3,712 2,293 Debt issuance costs — 3,556 Loan receivables held to maturity, net of current portion 3 811 — Other 13,217 14,660 Other long-term assets $ 187,308 $ 186,927 1 For the three and nine months ended October 1, 2023, we recorded $1.4 million and $4.3 million, respectively, of amortization expense related to the amortization of our capitalized CCA costs. For the three and nine months ended October 2, 2022, we recorded $1.6 million and $3.5 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 $21.4 million and $22.5 million, and allowance for credit losses of $1.1 million and $0.4 million as of October 1, 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 October 1, 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 October 1, 2023, the average FICO score of our customers under other loan receivable agreements is above 760, which is also categorized as a “Very Good” credit profile by the Fair Isaac Corporation.
Schedule of Accrued Liabilities	Accrued Liabilities As of October 1, 2023 January 1, 2023 (In thousands) (As Restated) Employee compensation and employee benefits $ 22,415 $ 36,452 Interest payable 734 8,549 Short-term warranty reserves 26,157 29,677 Restructuring reserve 1,674 2 Legal expenses 3,989 2,681 Taxes payable 9,429 9,641 Payable to related parties 7,959 11,239 Short-term finance lease liabilities 5,958 2,949 Indemnification obligations retained from C&I Solutions sale 1 22,608 20,781 Short-term asset retirement obligation liability 1,773 1,396 Other 27,947 24,752 Accrued liabilities $ 130,643 $ 148,119 1 As of October 1, 2023, we had a total of $20.4 million and $2.2 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 October 1, 2023 January 1, 2023 (In thousands) (As Restated) Deferred revenue $ 32,597 $ 35,864 Long-term warranty reserves 27,278 23,931 Unrecognized tax benefits 13,098 12,295 Related-party liabilities 1,458 1,458 Long-term finance lease liabilities 15,709 7,878 Indemnification obligations retained from C&I Solutions sale 1 10,904 11,385 Long-term asset retirement obligation liability 2,536 2,395 Other 18,826 19,496 Other long-term liabilities $ 122,406 $ 114,702 1 As of October 1, 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) October 1, 2023 January 1, 2023 Cumulative translation adjustment $ 9,577 $ 9,576 Net gain on long-term pension liability obligation 1,992 1,992 Accumulated other comprehensive income $ 11,569 $ 11,568

Loan Receivables Held For Sale

Loan Receivables Held For Sale (Tables)	9 Months Ended
	Oct. 01, 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 at the lower of costs or fair value for the three and nine months ended October 1, 2023: Three Months Ended Nine Months Ended (In thousands) October 1, 2023 October 1, 2023 Balance at beginning of period $ 11,947 $ — Additions 1 67,924 110,882 Proceeds from sales (67,402) (98,754) Gain (loss) on sale 2 3,310 3,676 (Increase) decrease in valuation allowance 3 (336) (361) Balance at end of period $ 15,443 $ 15,443 1 In the nine months ended October 1, 2023, we capitalized $5.3 million of transaction costs related to the structuring of the sale of receivables, which are presented within “prepaid expenses and other current assets” on our condensed consolidated balance sheets. 2 In the three and nine months ended October 1, 2023, we recognized a gain of $3.1 million and $3.6 million, respectively, 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 gain of $0.2 million and $0.1 million, respectively, from contracts sold during the three and nine months ended October 1, 2023 but not yet recognized as revenue, which was deferred and recorded within “contract liabilities” on our condensed consolidated balance sheets. 3 In the three and nine months ended October 1, 2023, we recorded a valuation allowance related to the write-down of our loan receivables held for sale to fair value on our condensed consolidated balance sheets.

Goodwill and Intangible Assets

Goodwill and Intangible Assets (Tables)	9 Months Ended
	Oct. 01, 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 October 1, 2023: Developed technology $ 3,700 $ (2,467) $ 1,233 Brand 15,800 (7,900) 7,900 Non-compete agreements 3,400 (2,267) 1,133 Software development costs 13,840 (4,276) 9,564 Total $ 36,740 $ (16,910) $ 19,830 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 October 1, 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 three months) $ 3,181 2024 10,871 2025 5,778 Total $ 19,830

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Oct. 01, 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: October 1, 2023 (In thousands) Carrying Value Total Fair Value Level 3 Level 2 Level 1 Assets Cash and cash equivalents: Money market funds $ 30,000 $ 30,000 $ — $ — $ 30,000 Loan receivables held for sale, net 15,443 17,116 — 17,116 — Other long-term assets: Equity investments with FVO 29,594 29,594 29,594 — — Interest rate swaps 3,712 3,712 — 3,712 — Total assets $ 78,749 $ 80,422 $ 29,594 $ 20,828 $ 30,000 Liabilities Accrued liabilities: Interest rate swaps $ 90 $ 90 $ — $ 90 $ — Total liabilities $ 90 $ 90 $ — $ 90 $ — 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 nine months ended October 1, 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 nine months ended October 1, 2023. (In thousands) Beginning balance as of January 1, 2023 Equity Distribution Additional Investment Other adjustment 1 Ending balance as of October 1, 2023 Equity investments with FVO $ 18,346 $ — $ 9,071 $ 2,177 $ 29,594 1 During the third quarter of fiscal 2023, we recorded a fair value adjustment of $2.2 million as a result of our assessment of the fair value of our equity investments with FVO during the quarter. The fair value adjustment was recorded within “Equity in earnings (losses) of unconsolidated investees” in our condensed consolidated statements of operations.
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 October 1, 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 $ 29,594 Discounted cash flows Discount rate Residual value 14.0%-14.5% 6.4%-17.5% 14.2% 9.5% Total assets $ 29,594 1 The primary unobservable inputs used in the fair value measurement of our equity investments, when using a discounted cash flow model, are the discount rate and residual value. Significant increases (decreases) in the discount rate in isolation would result in a significantly lower (higher) fair value measurement. We estimate the discount rate based on risk appropriate projected cost of equity. We estimate the residual value based on the contracted systems in place in the years being projected. Significant increases (decreases) in the residual value in isolation would result in a significantly higher (lower) fair value measurement.

Restructuring (Tables)

Restructuring (Tables)	9 Months Ended
	Oct. 01, 2023
Restructuring and Related Activities [Abstract]
Schedule of Restructuring Charges	The following table summarizes the restructuring charges for the July 2023 and September 2023 restructuring plans recognized in our condensed consolidated statements of operations: Nine Months Ended (In thousands) October 1, 2023 Cumulative To Date July 2023 Restructuring Plan: Severance and benefits $ 4,667 $ 4,667 Other costs 159 159 Total July 2023 Restructuring Plan 4,826 4,826 September 2023 Restructuring Plan: Severance and benefits 959 959 Other costs 88 88 Total September 2023 Restructuring Plan 1,047 1,047 Total restructuring charges (credits) $ 5,873 $ 5,873
Schedule of Restructuring Reserve	The following table summarizes the restructuring reserve activities during the nine months ended October 1, 2023: Nine Months Ended (In thousands) July 2, 2023 Charges (Benefits) (Payments) Recoveries October 1, 2023 July 2023 Restructuring Plan: Severance and benefits $ — $ 4,667 $ (4,167) $ 500 Other costs — 159 — 159 Total July 2023 Restructuring Plan — 4,826 (4,167) 659 September 2023 Restructuring Plan: Severance and benefits — 959 (32) 927 Other costs — 88 — 88 Total September 2023 Restructuring Plan — 1,047 (32) 1,015 Total restructuring reserve activities $ — $ 5,873 $ (4,199) $ 1,674

Commitments and Contingencies (

Commitments and Contingencies (Tables)	9 Months Ended
	Oct. 01, 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 Nine Months Ended (In thousands) October 1, 2023 October 2, 2022 October 1, 2023 October 2, 2022 (As Restated) (As Restated) Operating lease expense $ 3,676 $ 3,609 $ 10,958 $ 10,188 Finance lease expense: Amortization expense 1,285 615 3,091 764 Interest expense on lease liabilities 354 111 817 142 Sublease income (515) (429) (1,556) (620) Total $ 4,800 $ 3,906 $ 13,310 $ 10,474 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows for operating leases $ 4,191 $ 4,565 $ 12,091 $ 13,404 Operating cash flows for finance leases 354 111 817 142 Financing cash flows for finance leases 1,285 615 3,091 764 Right-of-use assets and property, plant, and equipment obtained in exchange for leases: Operating leases $ 197 $ 12,479 $ 4,006 $ 12,988 Finance leases 5,939 3,338 14,603 7,526 As of October 1, 2023 January 1, 2023 Weighted-average remaining lease term (in years): Operating leases 3.6 3.7 Finance leases 3.5 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 October 1, 2023, are as follows: Operating Leases Finance Leases As of October 1, 2023 (In thousands) 2023 (remaining three months) $ 3,022 $ 1,806 2024 13,252 7,201 2025 9,489 7,116 2026 7,841 5,635 2027 4,932 2,207 Thereafter 2,090 307 Total lease payments 40,626 24,272 Less: imputed interest (5,452) (2,605) Total $ 35,174 $ 21,667
Schedule of Future Purchase Obligations	Future purchase obligations under non-cancellable purchase orders and long-term supply agreements as o f October 1, 2023 are as follows: (In thousands) Fiscal 2023 (remaining three months) Fiscal 2024 Fiscal 2025 Fiscal 2026 Fiscal 2027 Thereafter Total Future purchase obligations $ 45,833 $ 22,193 $ 5,988 $ 5,838 $ 5,844 $ 4,167 $ 89,863
Schedule of Product Warranty Liability	The following table summarizes accrued warranty activities for the three and nine months ended October 1, 2023 and October 2, 2022: Three Months Ended Nine Months Ended October 1, 2023 October 2, 2022 October 1, 2023 October 2, 2022 (In thousands) (As Restated) (As Restated) Balance at the beginning of the period $ 83,101 $ 75,813 $ 74,751 $ 80,592 Accruals for warranties issued during the period 6,821 6,163 27,838 10,490 Settlements and adjustments during the period (8,859) (6,103) (21,526) (15,209) Balance at the end of the period $ 81,063 $ 75,873 $ 81,063 $ 75,873

Equity Investments (Tables)

Equity Investments (Tables)	9 Months Ended
	Oct. 01, 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 October 1, 2023 January 1, 2023 (In thousands) (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 34,523 26,419 Other equity investments without readily determinable fair value 280 280 Total equity investments without readily determinable fair value 39,803 31,699 Equity investments with FVO: SunStrong Capital Holdings, LLC 12,110 9,871 Dorado Development Partners, LLC 17,181 8,173 SunStrong Partners, LLC 303 302 Total equity investment with FVO 29,594 18,346 Total equity investments $ 69,397 $ 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 Nine Months Ended (In thousands) October 1, 2023 October 2, 2022 October 1, 2023 October 2, 2022 Summarized statements of operations information: Revenues $ 43,621 $ 37,444 $ 120,780 $ 109,604 Net (loss) income 1,557 2,307 (9,130) (4,817) Net (loss) income attributable to parents 5,177 7,201 5,154 15,983 As of (In thousands) October 1, 2023 January 1, 2023 Summarized balance sheet information: Current assets $ 102,997 $ 88,561 Long-term assets 2,073,553 1,823,437 Current liabilities 74,489 94,414 Long-term liabilities 1,514,828 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) October 1, 2023 January 1, 2023 Accounts receivable $ 490 $ 489 Prepaid expenses and other current assets 2,107 2,898 Other long-term assets — 1,284 Accrued liabilities 121 8,033 Three Months Ended Nine Months Ended (In thousands) October 1, 2023 October 2, 2022 October 1, 2023 October 2, 2022 Expense (income) from transition services agreement, net $ 146 $ (1,095) $ (44) $ (1,613) Sublease income (recorded in sales, general, and administrative expense) — (214) — (285) Interest expense: Interest expense incurred on the 4.00% debentures due 2023 — 1,000 171 3,000 Related-party transactions and balances with SunStrong, SunStrong Partners, Dorado DevCo, and our dealer accelerator equity investees are as follows: As of (In thousands) October 1, 2023 January 1, 2023 Accounts receivable $ 60,495 $ 33,864 Loan receivables held for sale, net 17,040 — Prepaid expenses and other current assets 6,720 3,959 Other long-term assets 6,549 6,549 Accounts payable 742 165 Accrued liabilities 858 97 Contract liabilities 186,112 63,504 Three Months Ended Nine Months Ended October 1, 2023 October 2, 2022 October 1, 2023 October 2, 2022 (In thousands) (As Restated) (As Restated) Revenues and fees received from investees for products/services $ 145,336 $ 77,770 $ 348,080 $ 170,631 The below table summarizes our transactions with Maxeon Solar for the three and nine months ended October 1, 2023: Three Months Ended Nine Months Ended (In thousands) October 1, 2023 October 2, 2022 October 1, 2023 October 2, 2022 Purchases of photovoltaic modules (recorded in cost of revenues) $ 24,124 $ 68,060 $ 173,014 $ 203,121 Research and development expenses reimbursement received 129 840 1,135 18,375 Sublease income (recorded in sales, general, and administrative expense) 468 176 1,404 176 (Expense) income from transition services agreement, net (24) (36) (74) (326) We had the following balances related to transactions with Maxeon Solar as of October 1, 2023: As of (In thousands) October 1, 2023 January 1, 2023 Prepaid and other current assets $ 419 $ 607 Accrued liabilities 7,959 11,239 Accounts payable 3,697 38,486 Other long-term liabilities 1,458 1,458

Debt and Credit Sources (Tables

Debt and Credit Sources (Tables)	9 Months Ended
	Oct. 01, 2023
Debt Disclosure [Abstract]
Schedule of Debt	The following table summarizes our outstanding debt on our condensed consolidated balance sheets: October 1, 2023 January 1, 2023 (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 3 246,250 242,319 — 242,319 — — — — Other debt — — — — 11,733 11,733 — 11,733 Total recourse debt $ 246,250 $ 242,319 $ — $ 242,319 $ 436,724 $ 436,652 $ — $ 436,652 Non-Recourse Debt: Credit Suisse Warehouse Loan 3 $ 65,272 $ 63,991 $ — $ 63,991 $ 71,577 $ 70,443 $ — $ 70,443 Other debt 336 65 255 320 371 64 308 372 Total non-recourse debt 65,608 64,056 255 64,311 71,948 70,507 308 70,815 Total $ 311,858 $ 306,375 $ 255 $ 306,630 $ 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. 3 Classified as a current liability as of October 1, 2023 due to breaches of certain contractual covenants.
Schedule of Maturities of Debt	As of October 1, 2023, the aggregate future contractual maturities of our outstanding debt, at face value, were as follows: (In thousands) (as restated) Fiscal 2023 (remaining three months) Fiscal 2024 Fiscal 2025 Fiscal 2026 Fiscal 2027 Thereafter Total Aggregate future maturities of outstanding debt $ 1,267 $ 310,341 $ 73 $ 76 $ 80 $ 21 $ 311,858

Related-Party Transactions (Tab

Related-Party Transactions (Tables)	9 Months Ended
	Oct. 01, 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) October 1, 2023 January 1, 2023 Accounts receivable $ 490 $ 489 Prepaid expenses and other current assets 2,107 2,898 Other long-term assets — 1,284 Accrued liabilities 121 8,033 Three Months Ended Nine Months Ended (In thousands) October 1, 2023 October 2, 2022 October 1, 2023 October 2, 2022 Expense (income) from transition services agreement, net $ 146 $ (1,095) $ (44) $ (1,613) Sublease income (recorded in sales, general, and administrative expense) — (214) — (285) Interest expense: Interest expense incurred on the 4.00% debentures due 2023 — 1,000 171 3,000 Related-party transactions and balances with SunStrong, SunStrong Partners, Dorado DevCo, and our dealer accelerator equity investees are as follows: As of (In thousands) October 1, 2023 January 1, 2023 Accounts receivable $ 60,495 $ 33,864 Loan receivables held for sale, net 17,040 — Prepaid expenses and other current assets 6,720 3,959 Other long-term assets 6,549 6,549 Accounts payable 742 165 Accrued liabilities 858 97 Contract liabilities 186,112 63,504 Three Months Ended Nine Months Ended October 1, 2023 October 2, 2022 October 1, 2023 October 2, 2022 (In thousands) (As Restated) (As Restated) Revenues and fees received from investees for products/services $ 145,336 $ 77,770 $ 348,080 $ 170,631 The below table summarizes our transactions with Maxeon Solar for the three and nine months ended October 1, 2023: Three Months Ended Nine Months Ended (In thousands) October 1, 2023 October 2, 2022 October 1, 2023 October 2, 2022 Purchases of photovoltaic modules (recorded in cost of revenues) $ 24,124 $ 68,060 $ 173,014 $ 203,121 Research and development expenses reimbursement received 129 840 1,135 18,375 Sublease income (recorded in sales, general, and administrative expense) 468 176 1,404 176 (Expense) income from transition services agreement, net (24) (36) (74) (326) We had the following balances related to transactions with Maxeon Solar as of October 1, 2023: As of (In thousands) October 1, 2023 January 1, 2023 Prepaid and other current assets $ 419 $ 607 Accrued liabilities 7,959 11,239 Accounts payable 3,697 38,486 Other long-term liabilities 1,458 1,458

Net (Loss) Income Per Share (Ta

Net (Loss) Income Per Share (Tables)	9 Months Ended
	Oct. 01, 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 Nine Months Ended October 1, 2023 October 2, 2022 October 1, 2023 October 2, 2022 (In thousands, except per share amounts) (As Restated) (As Restated) Basic net (loss) income per share: Numerator: Net (loss) income attributable to stockholders - continuing operations 1 $ (35,648) $ 137,651 $ (111,491) $ 88,629 Net (loss) income attributable to stockholders - discontinued operations (1,716) (2,037) (11,717) (49,205) Net (loss) income attributable to stockholders $ (37,364) $ 135,614 $ (123,208) $ 39,424 Denominator: Basic weighted-average common shares 175,241 174,118 174,937 173,815 Basic net (loss) income per share - continuing operations $ (0.20) $ 0.79 $ (0.64) $ 0.51 Basic net (loss) income per share - discontinued operations (0.01) (0.01) (0.07) (0.28) Basic net (loss) income per share $ (0.21) $ 0.78 $ (0.71) $ 0.23 Diluted net (loss) income per share: Numerator: Net (loss) income available to stockholders - continuing operations $ (35,648) $ 137,651 $ (111,491) $ 88,629 Add: Interest expense on 4.00% debentures due 2023, net of tax — 3,026 — 9,078 Net (loss) income available to common stockholders - continuing operations (35,648) 140,677 (111,491) 97,707 Net (loss) income available to common stockholders - discontinued operations $ (1,716) $ (2,037) $ (11,717) $ (49,205) Denominator: Basic weighted-average common shares 175,241 174,118 174,937 173,815 Effect of dilutive securities: Restricted stock units — 1,311 — 706 4.00% debentures due 2023 — 17,068 — 17,068 Dilutive weighted-average common shares: 175,241 192,497 174,937 191,589 Dilutive net (loss) income per share - continuing operations $ (0.20) $ 0.73 $ (0.64) $ 0.51 Dilutive net (loss) income per share - discontinued operations (0.01) (0.01) (0.07) (0.26) Dilutive net (loss) income per share $ (0.21) $ 0.72 $ (0.71) $ 0.25 1 There was no add back of interest expense for the convertible debentures or effect of dilutive securities for the nine months ended October 1, 2023. 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 Nine Months Ended (In thousands) October 1, 2023 October 2, 2022 October 1, 2023 October 2, 2022 Restricted stock units 4,722 1,119 4,503 3,422 4.00% debentures due 2023 — — 1,000 —

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	9 Months Ended
	Oct. 01, 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 Nine Months Ended (In thousands) October 1, 2023 October 2, 2022 October 1, 2023 October 2, 2022 Cost of revenues $ 887 $ 1,144 $ 4,040 $ 3,494 Research and development 446 454 1,671 1,293 Sales, general, and administrative 4,270 4,959 15,428 14,222 Total stock-based compensation expense $ 5,603 $ 6,557 $ 21,139 $ 19,009

Organization and Summary of S_2

Organization and Summary of Significant Accounting Policies (Details) $ in Millions			1 Months Ended	9 Months Ended
	Dec. 08, 2023 USD ($)	Jan. 26, 2023 USD ($)	May 31, 2023 USD ($)	Oct. 01, 2023 USD ($) segment	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
KKR Credit
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Secured financing commitments, amount			$ 550
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
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]
Increase in revolver commitments, amount		$ 100
Maximum borrowing capacity						$ 100
Credit facility, Remaining capacity				$ 53.7
Revolver And Term Loan Facility | Forecast
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Current borrowing capacity	$ 25
Revolver And Term Loan Facility | Subsequent Event
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Increase in revolver commitments, amount	25
Current borrowing capacity	$ 25
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 ($) $ in Thousands		3 Months Ended			9 Months Ended
		Oct. 01, 2023		Oct. 02, 2022	Oct. 01, 2023		Oct. 02, 2022	Jan. 01, 2023
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Increase (decrease) to total cost of revenues		$ 358,181		$ 359,728	$ 1,100,841		$ 954,738
Increase (decrease) in inventories		324,484			324,484			$ 295,731
Increase (decrease) in advances to suppliers, current portion		6,487			6,487			12,059
Increase (decrease) in prepaid expenses and other current assets	[1]	233,558			233,558			197,811
Increase (decrease) in accounts payable	[1]	186,543			186,543			243,139
Increase (decrease) in accrued liabilities	[1]	130,643			130,643			148,119
Increase (decrease) in sales, general, and administrative expenses		$ 93,345	[2]	101,185	$ 288,161	[2]	294,412
Restatement Adjustments
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Increase (decrease) to total cost of revenues				(10,536)			(29,767)
Increase (decrease) in inventories								(21,084)
Increase (decrease) in advances to suppliers, current portion								2,750
Increase (decrease) in prepaid expenses and other current assets								51
Increase (decrease) in accounts payable								910
Increase (decrease) in accrued liabilities								2,890
Increase (decrease) in sales, general, and administrative expenses				14,061			37,249
Restatement Adjustments | Inventory Related Adjustments
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Increase (decrease) to total cost of revenues				(2,900)			(4,500)
Increase (decrease) in inventories								(19,700)
Increase (decrease) in advances to suppliers, current portion								2,800
Increase (decrease) in prepaid expenses and other current assets								2,400
Increase (decrease) in accounts payable								800
Increase (decrease) in accrued liabilities								$ 400
Restatement Adjustments | Classification of Expense in the Statements of Operations
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Increase (decrease) to total cost of revenues				(11,500)			(37,100)
Increase (decrease) in sales, general, and administrative expenses				$ 11,500			$ 37,100
[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 10, Note 11, and Note 13)[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: expense (income) from transition services agreement, net,” “other (expense) income, 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 11, and Note 13).

Restatement of Condensed Cons_4

Restatement of Condensed Consolidated Financial Statements - Balance Sheets (Details) - USD ($) $ in Thousands		Oct. 01, 2023	Jul. 02, 2023	Apr. 02, 2023	Jan. 01, 2023	Oct. 02, 2022	Jul. 03, 2022	Apr. 03, 2022	Jan. 02, 2022
Current assets:
Cash and cash equivalents		$ 103,683			$ 377,026	$ 396,510
Restricted cash and cash equivalents, current portion		2,728			10,668	14,009
Short-term investments		0			132,480
Accounts receivable, net	[1]	203,689			169,674
Contract assets		37,128			57,070
Inventories		324,484			295,731
Advances to suppliers, current portion		6,487			12,059
Prepaid expenses and other current assets	[1]	233,558			197,811
Total current assets		927,200			1,252,519
Restricted cash and cash equivalents, net of current portion		9,548			18,812	27,896
Property, plant and equipment, net		106,069			76,473
Operating lease right-of-use assets		32,534			36,926
Solar power systems leased, net		38,845			41,779
Goodwill		125,998			125,998
Other intangible assets, net		19,830			24,192
Other long-term assets	[1]	187,308			186,927
Total assets		1,447,332			1,763,626
Current liabilities:
Accounts payable	[1]	186,543			243,139
Accrued liabilities	[1]	130,643			148,119
Operating lease liabilities, current portion		10,846			11,356
Contract liabilities, current portion	[1]	231,591			141,863
Short-term debt, net		306,375			82,240
Convertible debt, current portion	[1]	0			424,919
Current liabilities of discontinued operations					0
Total current liabilities		865,998			1,051,636
Long-term debt, net		255			308
Operating lease liabilities, net of current portion		24,328			29,347
Contract liabilities, net of current portion		10,805			11,588
Other long-term liabilities	[1]	122,406			114,702
Long-term liabilities of discontinued operations					0
Total liabilities		1,023,792			1,207,581
Commitments and contingencies (Note 10)
Equity:
Preferred stock		0			0
Common stock		175			174
Additional paid-in capital		2,853,487			2,855,930
Accumulated deficit		(2,208,992)			(2,085,784)
Accumulated other comprehensive income		11,569			11,568
Treasury stock, at cost		(233,626)			(226,646)
Total stockholders' equity		422,613			555,242
Noncontrolling interests in subsidiaries		927			803
Total equity		423,540	$ 455,975	$ 479,728	556,045	551,203	$ 407,463	$ 348,213	$ 383,603
Total liabilities and equity		$ 1,447,332			1,763,626
As Previously Reported
Current assets:
Cash and cash equivalents					377,026	396,510
Restricted cash and cash equivalents, current portion					9,855	13,204
Short-term investments					132,480
Accounts receivable, net					174,577
Contract assets					50,692
Inventories					316,815
Advances to suppliers, current portion					9,309
Prepaid expenses and other current assets					197,760
Total current assets					1,268,514
Restricted cash and cash equivalents, net of current portion					15,151	24,265
Property, plant and equipment, net					74,522
Operating lease right-of-use assets					36,926
Solar power systems leased, net					41,779
Goodwill					126,338
Other intangible assets, net					24,192
Other long-term assets					192,585
Total assets					1,780,007
Current liabilities:
Accounts payable					242,229
Accrued liabilities					145,229
Operating lease liabilities, current portion					11,356
Contract liabilities, current portion					144,209
Short-term debt, net					82,404
Convertible debt, current portion					424,919
Current liabilities of discontinued operations					0
Total current liabilities					1,050,346
Long-term debt, net					308
Operating lease liabilities, net of current portion					29,347
Contract liabilities, net of current portion					11,555
Other long-term liabilities					112,797
Long-term liabilities of discontinued operations					0
Total liabilities					1,204,353
Commitments and contingencies (Note 10)
Equity:
Preferred stock					0
Common stock					174
Additional paid-in capital					2,855,930
Accumulated deficit					(2,066,175)
Accumulated other comprehensive income					11,568
Treasury stock, at cost					(226,646)
Total stockholders' equity					574,851
Noncontrolling interests in subsidiaries					803
Total equity					575,654				390,024
Total liabilities and equity					1,780,007
Restatement Adjustments
Current assets:
Cash and cash equivalents					0	0
Restricted cash and cash equivalents, current portion					813	805
Short-term investments					0
Accounts receivable, net					(4,903)
Contract assets					6,378
Inventories					(21,084)
Advances to suppliers, current portion					2,750
Prepaid expenses and other current assets					51
Total current assets					(15,995)
Restricted cash and cash equivalents, net of current portion					3,661	$ 3,631
Property, plant and equipment, net					1,951
Operating lease right-of-use assets					0
Solar power systems leased, net					0
Goodwill					(340)
Other intangible assets, net					0
Other long-term assets					(5,658)
Total assets					(16,381)
Current liabilities:
Accounts payable					910
Accrued liabilities					2,890
Operating lease liabilities, current portion					0
Contract liabilities, current portion					(2,346)
Short-term debt, net					(164)
Convertible debt, current portion					0
Current liabilities of discontinued operations					0
Total current liabilities					1,290
Long-term debt, net					0
Operating lease liabilities, net of current portion					0
Contract liabilities, net of current portion					33
Other long-term liabilities					1,905
Long-term liabilities of discontinued operations					0
Total liabilities					3,228
Commitments and contingencies (Note 10)
Equity:
Preferred stock					0
Common stock					0
Additional paid-in capital					0
Accumulated deficit					(19,609)
Accumulated other comprehensive income					0
Treasury stock, at cost					0
Total stockholders' equity					(19,609)
Noncontrolling interests in subsidiaries					0
Total equity					(19,609)				$ (6,421)
Total liabilities and equity					$ (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 10, Note 11, and Note 13)

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			9 Months Ended
		Oct. 01, 2023		Oct. 02, 2022	Oct. 01, 2023		Oct. 02, 2022
Income Statement [Abstract]
Total revenues		$ 430,690	[1]	$ 476,393	$ 1,328,317	[1]	$ 1,243,975
Total cost of revenues		358,181		359,728	1,100,841		954,738
Gross profit		72,509		116,665	227,476		289,237
Operating expenses:
Research and development		5,406	[1]	6,846	19,161	[1]	19,199
Sales, general, and administrative		93,345	[1]	101,185	288,161	[1]	294,412
Restructuring charges (credits)		5,873		111	5,873		244
(Income) expense from transition services agreement, net		170	[1]	(1,059)	30	[1]	(1,287)
Total operating expenses		104,794		107,083	313,225		312,568
Operating (loss) income		(32,285)		9,582	(85,749)		(23,331)
Other (expense) income, net:
Interest income		1,096		144	2,256		278
Interest expense		(7,660)	[1]	(3,712)	(19,124)	[1]	(15,223)
Other, net		103		135,368	(10,591)		122,160
Other (expense) income, net		(6,461)		131,800	(27,459)		107,215
(Loss) income from continuing operations before income taxes and equity in earnings (losses) of unconsolidated investees		(38,746)		141,382	(113,208)		83,884
(Provision for) benefits from income taxes		137		(2,442)	(1,569)		6,480
Equity in earnings (losses) of unconsolidated investees		2,990		1,936	3,410		1,936
Net (loss) income from continuing operations		(35,619)		140,876	(111,367)		92,300
(Loss) income from discontinued operations before income taxes and equity in earnings (losses) of unconsolidated investees	[1]	(1,924)		(2,395)	(12,080)		(50,253)
Benefits from (provision for) income taxes from discontinued operations		208		358	363		798
Net (loss) income from discontinued operations		(1,716)		(2,037)	(11,717)		(49,455)
Net (loss) income		(37,335)		138,839	(123,084)		42,845
Net (income) loss from continuing operations attributable to noncontrolling interests		(29)		(3,225)	(124)		(3,671)
Net loss (income) from discontinued operations attributable to noncontrolling interests		0		0	0		250
Net (income) loss attributable to noncontrolling interests		(29)		(3,225)	(124)		(3,421)
Net (loss) income from continuing operations attributable to stockholders		(35,648)		137,651	(111,491)		88,629
Net (loss) income from discontinued operations attributable to stockholders		(1,716)		(2,037)	(11,717)		(49,205)
Net (loss) income attributable to stockholders		$ (37,364)		$ 135,614	$ (123,208)		$ 39,424
Net (loss) income per share attributable to stockholders - basic:
Continuing operations - basic (in dollars per share)		$ (0.20)		$ 0.79	$ (0.64)		$ 0.51
Discontinued operations - basic (in dollars per share)		(0.01)		(0.01)	(0.07)		(0.28)
Net income (loss) per share – basic (in dollars per share)		(0.21)		0.78	(0.71)		0.23
Net (loss) income per share attributable to stockholders - diluted:
Continuing operations - diluted (in dollars per share)		(0.20)		0.73	(0.64)		0.51
Discontinued operations - diluted (in dollars per share)		(0.01)		(0.01)	(0.07)		(0.26)
Net income (loss) per share – diluted (in dollars per share)		$ (0.21)		$ 0.72	$ (0.71)		$ 0.25
Weighted-average shares:
Basic (in shares)		175,241		174,118	174,937		173,815
Diluted (in shares)		175,241		192,497	174,937		191,589
As Previously Reported
Income Statement [Abstract]
Total revenues				$ 475,711			$ 1,243,760
Total cost of revenues				370,264			984,505
Gross profit				105,447			259,255
Operating expenses:
Research and development				6,784			19,199
Sales, general, and administrative				87,124			257,163
Restructuring charges (credits)				111			244
(Income) expense from transition services agreement, net				(1,059)			(1,287)
Total operating expenses				92,960			275,319
Operating (loss) income				12,487			(16,064)
Other (expense) income, net:
Interest income				144			278
Interest expense				(4,216)			(15,224)
Other, net				135,368			122,160
Other (expense) income, net				131,296			107,214
(Loss) income from continuing operations before income taxes and equity in earnings (losses) of unconsolidated investees				143,783			91,150
(Provision for) benefits from income taxes				(3,109)			5,308
Equity in earnings (losses) of unconsolidated investees				1,958			1,958
Net (loss) income from continuing operations				142,632			98,416
(Loss) income from discontinued operations before income taxes and equity in earnings (losses) of unconsolidated investees				0			(47,155)
Benefits from (provision for) income taxes from discontinued operations				0			584
Net (loss) income from discontinued operations				0			(46,571)
Net (loss) income				142,632			51,845
Net (income) loss from continuing operations attributable to noncontrolling interests				(3,225)			(3,671)
Net loss (income) from discontinued operations attributable to noncontrolling interests				0			250
Net (income) loss attributable to noncontrolling interests				(3,225)			(3,421)
Net (loss) income from continuing operations attributable to stockholders				139,407			94,745
Net (loss) income from discontinued operations attributable to stockholders				0			(46,321)
Net (loss) income attributable to stockholders				$ 139,407			$ 48,424
Net (loss) income per share attributable to stockholders - basic:
Continuing operations - basic (in dollars per share)				$ 0.80			$ 0.55
Discontinued operations - basic (in dollars per share)				0			(0.27)
Net income (loss) per share – basic (in dollars per share)				0.80			0.28
Net (loss) income per share attributable to stockholders - diluted:
Continuing operations - diluted (in dollars per share)				0.74			0.54
Discontinued operations - diluted (in dollars per share)				0			(0.24)
Net income (loss) per share – diluted (in dollars per share)				$ 0.74			$ 0.30
Weighted-average shares:
Basic (in shares)				174,118			173,815
Diluted (in shares)				192,497			191,589
Restatement Adjustments
Income Statement [Abstract]
Total revenues				$ 682			$ 215
Total cost of revenues				(10,536)			(29,767)
Gross profit				11,218			29,982
Operating expenses:
Research and development				62			0
Sales, general, and administrative				14,061			37,249
Restructuring charges (credits)				0			0
(Income) expense from transition services agreement, net				0			0
Total operating expenses				14,123			37,249
Operating (loss) income				(2,905)			(7,267)
Other (expense) income, net:
Interest income				0			0
Interest expense				504			1
Other, net				0			0
Other (expense) income, net				504			1
(Loss) income from continuing operations before income taxes and equity in earnings (losses) of unconsolidated investees				(2,401)			(7,266)
(Provision for) benefits from income taxes				667			1,172
Equity in earnings (losses) of unconsolidated investees				(22)			(22)
Net (loss) income from continuing operations				(1,756)			(6,116)
(Loss) income from discontinued operations before income taxes and equity in earnings (losses) of unconsolidated investees				(2,395)			(3,098)
Benefits from (provision for) income taxes from discontinued operations				358			214
Net (loss) income from discontinued operations				(2,037)			(2,884)
Net (loss) income				(3,793)			(9,000)
Net (income) loss from continuing operations attributable to noncontrolling interests				0			0
Net loss (income) from discontinued operations attributable to noncontrolling interests				0			0
Net (income) loss attributable to noncontrolling interests				0			0
Net (loss) income from continuing operations attributable to stockholders				(1,756)			(6,116)
Net (loss) income from discontinued operations attributable to stockholders				(2,037)			(2,884)
Net (loss) income attributable to stockholders				$ (3,793)			$ (9,000)
Net (loss) income per share attributable to stockholders - basic:
Continuing operations - basic (in dollars per share)				$ (0.01)			$ (0.04)
Discontinued operations - basic (in dollars per share)				(0.01)			(0.01)
Net income (loss) per share – basic (in dollars per share)				(0.02)			(0.05)
Net (loss) income per share attributable to stockholders - diluted:
Continuing operations - diluted (in dollars per share)				(0.01)			(0.03)
Discontinued operations - diluted (in dollars per share)				(0.01)			(0.02)
Net income (loss) per share – diluted (in dollars per share)				$ (0.02)			$ (0.05)
Weighted-average shares:
Basic (in shares)				0			0
Diluted (in shares)				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: expense (income) from transition services agreement, net,” “other (expense) income, 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 11, and Note 13).

Restatement of Condensed Cons_6

Restatement of Condensed Consolidated Financial Statements - Statement of Cash Flows (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 01, 2023	Oct. 02, 2022	Oct. 01, 2023	Oct. 02, 2022	Jan. 01, 2023
Cash flows from operating activities:
Net (loss) income	$ (37,335)	$ 138,839	$ (123,084)	$ 42,845
Adjustments to reconcile net (loss) income to net cash used in operating activities:
Depreciation and amortization			36,994	22,261
Amortization of cloud computing arrangements			4,251	3,549
Stock-based compensation			21,139	19,056
Amortization of debt issuance costs			1,532	2,556
Equity in (earnings) losses of unconsolidated investees			(3,410)	(1,936)
(Gain) loss on equity investments			10,805	(120,965)
Unrealized (gain) loss on derivatives			(1,330)	(2,304)
Dividend from equity method investee			596	133
Deferred income taxes			(536)	(12,659)
Other, net			935	128
Changes in operating assets and liabilities:
Accounts receivable			(34,954)	(65,802)
Contract assets			19,942	(318)
Inventories			(28,753)	(14,764)
Project assets			3	295
Prepaid expenses and other assets			(23,411)	(204,988)
Operating lease right-of-use assets			8,398	8,612
Advances to suppliers			5,572	(6,288)
Accounts payable and other accrued liabilities			(70,333)	74,631
Contract liabilities			88,945	98,297
Operating lease liabilities			(9,531)	(11,828)
Net cash (used in) provided by operating activities			(111,673)	(169,489)
Cash flows from investing activities:
Purchases of property, plant, and equipment			(39,509)	(36,958)
Investments in software development costs			(4,649)	(4,225)
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)	(30,920)
Proceeds from sale of equity investment			121,675	440,108
Cash paid for investments in unconsolidated investees			(9,070)	(5,742)
Dividend from equity method investee, in excess of cumulative earnings			149	137
Net cash provided by (used in) investing activities			30,229	508,703
Cash flows from financing activities:
Proceeds from bank loans and other debt			493,440	124,729
Repayment of bank loans and other debt			(267,482)	(166,901)
Payments for financing leases			(3,091)	(764)
Purchases of stock for tax withholding obligations on vested restricted stock			(6,979)	(10,462)
Net cash (used in) provided by financing activities			(209,103)	(53,398)
Net increase (decrease) in cash, cash equivalents, and restricted cash				285,816
Cash, cash equivalents, and restricted cash, beginning of period			406,506	152,599
Cash, cash equivalents, and restricted cash, end of period	115,959	438,415	115,959	438,415
Reconciliation of cash, cash equivalents, and restricted cash to the condensed consolidated balance sheets:
Cash and cash equivalents	103,683	396,510	103,683	396,510	$ 377,026
Restricted cash and cash equivalents, current portion	2,728	14,009	2,728	14,009	10,668
Restricted cash and cash equivalents, net of current portion	9,548	27,896	9,548	27,896	18,812
Total cash, cash equivalents, and restricted cash	115,959	438,415	115,959	438,415	406,506
Supplemental disclosure of non-cash activities:
Property, plant and equipment acquisitions funded by liabilities (including financing leases)			14,956	9,082
Right-of-use assets obtained in exchange for lease obligations	$ 197	12,479	4,006	12,988
Net working capital settlement related to C&I Solutions sale			0	7,005
Supplemental cash flow disclosures:
Cash paid for interest			25,261	20,323
Cash paid for income taxes			$ 1,442	5,187
As Previously Reported
Cash flows from operating activities:
Net (loss) income		142,632		51,845
Adjustments to reconcile net (loss) income to net cash used in operating activities:
Depreciation and amortization				21,704
Amortization of cloud computing arrangements				3,392
Stock-based compensation				19,056
Amortization of debt issuance costs				2,556
Equity in (earnings) losses of unconsolidated investees				(1,958)
(Gain) loss on equity investments				(120,965)
Unrealized (gain) loss on derivatives				(2,304)
Dividend from equity method investee				133
Deferred income taxes				(12,606)
Other, net				128
Changes in operating assets and liabilities:
Accounts receivable				(66,254)
Contract assets				2,326
Inventories				(22,787)
Project assets				295
Prepaid expenses and other assets				(212,164)
Operating lease right-of-use assets				8,424
Advances to suppliers				(6,288)
Accounts payable and other accrued liabilities				77,844
Contract liabilities				98,663
Operating lease liabilities				(10,906)
Net cash (used in) provided by operating activities				(169,866)
Cash flows from investing activities:
Purchases of property, plant, and equipment				(36,958)
Investments in software development costs				(4,225)
Cash received from C&I Solutions sale, net of de-consolidated cash				146,303
Cash paid for equity investments under the Dealer Accelerator Program and other				(30,920)
Proceeds from sale of equity investment				440,108
Cash paid for investments in unconsolidated investees				(5,742)
Dividend from equity method investee, in excess of cumulative earnings				137
Net cash provided by (used in) investing activities				508,703
Cash flows from financing activities:
Proceeds from bank loans and other debt				124,729
Repayment of bank loans and other debt				(167,003)
Payments for financing leases				(735)
Purchases of stock for tax withholding obligations on vested restricted stock				(10,462)
Net cash (used in) provided by financing activities				(53,471)
Net increase (decrease) in cash, cash equivalents, and restricted cash				285,366
Cash, cash equivalents, and restricted cash, beginning of period				148,613
Cash, cash equivalents, and restricted cash, end of period		433,979		433,979
Reconciliation of cash, cash equivalents, and restricted cash to the condensed consolidated balance sheets:
Cash and cash equivalents		396,510		396,510	377,026
Restricted cash and cash equivalents, current portion		13,204		13,204	9,855
Restricted cash and cash equivalents, net of current portion		24,265		24,265	15,151
Total cash, cash equivalents, and restricted cash		433,979		433,979
Supplemental disclosure of non-cash activities:
Property, plant and equipment acquisitions funded by liabilities (including financing leases)				9,130
Right-of-use assets obtained in exchange for lease obligations				14,005
Net working capital settlement related to C&I Solutions sale				7,005
Supplemental cash flow disclosures:
Cash paid for interest				20,323
Cash paid for income taxes				5,187
Restatement Adjustments
Cash flows from operating activities:
Net (loss) income		(3,793)		(9,000)
Adjustments to reconcile net (loss) income to net cash used in operating activities:
Depreciation and amortization				557
Amortization of cloud computing arrangements				157
Stock-based compensation				0
Amortization of debt issuance costs				0
Equity in (earnings) losses of unconsolidated investees				22
(Gain) loss on equity investments				0
Unrealized (gain) loss on derivatives				0
Dividend from equity method investee				0
Deferred income taxes				(53)
Other, net				0
Changes in operating assets and liabilities:
Accounts receivable				452
Contract assets				(2,644)
Inventories				8,023
Project assets				0
Prepaid expenses and other assets				7,176
Operating lease right-of-use assets				188
Advances to suppliers				0
Accounts payable and other accrued liabilities				(3,213)
Contract liabilities				(366)
Operating lease liabilities				(922)
Net cash (used in) provided by operating activities				377
Cash flows from investing activities:
Purchases of property, plant, and equipment				0
Investments in software development costs				0
Cash received from C&I Solutions sale, net of de-consolidated cash				0
Cash paid for equity investments under the Dealer Accelerator Program and other				0
Proceeds from sale of equity investment				0
Cash paid for investments in unconsolidated investees				0
Dividend from equity method investee, in excess of cumulative earnings				0
Net cash provided by (used in) investing activities				0
Cash flows from financing activities:
Proceeds from bank loans and other debt				0
Repayment of bank loans and other debt				102
Payments for financing leases				(29)
Purchases of stock for tax withholding obligations on vested restricted stock				0
Net cash (used in) provided by financing activities				73
Net increase (decrease) in cash, cash equivalents, and restricted cash				450
Cash, cash equivalents, and restricted cash, beginning of period				3,986
Cash, cash equivalents, and restricted cash, end of period		4,436		4,436
Reconciliation of cash, cash equivalents, and restricted cash to the condensed consolidated balance sheets:
Cash and cash equivalents		0		0	0
Restricted cash and cash equivalents, current portion		805		805	813
Restricted cash and cash equivalents, net of current portion		3,631		3,631	$ 3,661
Total cash, cash equivalents, and restricted cash		$ 4,436		4,436
Supplemental disclosure of non-cash activities:
Property, plant and equipment acquisitions funded by liabilities (including financing leases)				(48)
Right-of-use assets obtained in exchange for lease obligations				(1,017)
Net working capital settlement related to C&I Solutions sale				0
Supplemental cash flow disclosures:
Cash paid for interest				0
Cash paid for income taxes				$ 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		9 Months Ended
	Dec. 31, 2011 $ / shares shares	Jun. 30, 2011 USD ($) $ / shares	Oct. 01, 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
	Apr. 12, 2023	May 31, 2022	Apr. 02, 2023	Oct. 02, 2022	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)	9 Months Ended
	Oct. 01, 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 director designee member	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 | member								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 | member							11
Remaining number of members | member						9
Number of members resigned, designated by total | designee							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 | member			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) - USD ($) $ in Thousands	Oct. 01, 2023	Jan. 17, 2023	Jan. 01, 2023	Dec. 31, 2015
Related Party Transaction [Line Items]
Debt face amount	$ 311,858		$ 508,672
4.00% convertible debentures due 2023 | Convertible Debt
Related Party Transaction [Line Items]
Interest rate				4%
Debt face amount				$ 425,000
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			9 Months Ended
		Oct. 01, 2023		Oct. 02, 2022	Oct. 01, 2023		Oct. 02, 2022	Jan. 01, 2023	Dec. 31, 2015
Related Party Transaction [Line Items]
Accounts receivable, net	[1]	$ 203,689			$ 203,689			$ 169,674
Prepaid expenses and other current assets	[1]	233,558			233,558			197,811
Other long-term assets	[1]	187,308			187,308			186,927
Accrued liabilities	[1]	130,643			130,643			148,119
Interest expense incurred on the 4.00% debentures due 2023		7,660	[2]	$ 3,712	19,124	[2]	$ 15,223
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		490			490			489
Prepaid expenses and other current assets		2,107			2,107			2,898
Other long-term assets		0			0			1,284
Accrued liabilities		121			121			$ 8,033
Expense (income) from transition services agreement, net		146		(1,095)	(44)		(1,613)
Sublease income (recorded in sales, general, and administrative expense)		0		(214)	0		(285)
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		$ 3,000
[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 10, Note 11, and Note 13)[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: expense (income) from transition services agreement, net,” “other (expense) income, 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 11, and Note 13).

Revenue from Contracts with C_3

Revenue from Contracts with Customers - Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended			9 Months Ended
	Oct. 01, 2023		Oct. 02, 2022	Oct. 01, 2023		Oct. 02, 2022
Disaggregation of Revenue [Line Items]
Total revenues	$ 430,690	[1]	$ 476,393	$ 1,328,317	[1]	$ 1,243,975
Solar power systems sales
Disaggregation of Revenue [Line Items]
Total revenues	348,052		360,223	1,059,536		951,694
Component sales
Disaggregation of Revenue [Line Items]
Total revenues	74,285		105,303	249,097		239,722
Light commercial sales
Disaggregation of Revenue [Line Items]
Total revenues	(50)		4,918	562		43,683
Services and other
Disaggregation of Revenue [Line Items]
Total revenues	$ 8,403		$ 5,949	$ 19,122		$ 8,876
[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: expense (income) from transition services agreement, net,” “other (expense) income, 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 11, and Note 13).

Revenue from Contracts with C_4

Revenue from Contracts with Customers - Contract Assets and Liabilities (Details) - USD ($) $ in Thousands	Oct. 01, 2023	Jan. 01, 2023
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Contract assets	$ 37,438	$ 57,379
Contract liabilities	242,396	153,451
C&I Solutions
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Indemnifications	$ 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		9 Months Ended
	Oct. 01, 2023	Oct. 02, 2022	Oct. 01, 2023	Oct. 02, 2022
Disaggregation of Revenue [Line Items]
Revenue recognized	$ 115.5	$ 55.9	$ 103.7	$ 40.8
Solar power systems and components
Disaggregation of Revenue [Line Items]
Revenue, remaining performance obligation, amount	$ 645.3		$ 645.3
Modules and components | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-10-02
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	Oct. 01, 2023	Jan. 01, 2023
Balance Sheet Related Disclosures [Abstract]
Accounts receivable, gross	$ 217,748	$ 184,733
Less: allowance for credit losses	(13,829)	(14,750)
Less: allowance for sales returns	(230)	(309)
Accounts receivable, net	$ 203,689	$ 169,674

Balance Sheet Components - Allo

Balance Sheet Components - Allowance for Credit Losses (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 01, 2023	Oct. 02, 2022	Oct. 01, 2023	Oct. 02, 2022
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Balance at beginning of period	$ 13,871	$ 15,659	$ 14,750	$ 14,375
Provision (recoveries) for credit losses	33	(74)	1,340	1,854
Write-offs	(75)	(330)	(2,261)	(974)
Balance at end of period	$ 13,829	$ 15,255	$ 13,829	$ 15,255

Balance Sheet Components - Inve

Balance Sheet Components - Inventories (Details) - USD ($) $ in Thousands	Oct. 01, 2023	Jan. 01, 2023
Balance Sheet Related Disclosures [Abstract]
Photovoltaic modules	$ 172,178	$ 136,006
Microinverters	54,610	48,645
Energy storage systems	47,106	62,861
Other solar power system component materials	50,590	48,219
Inventories	$ 324,484	$ 295,731

Balance Sheet Components - Prep

Balance Sheet Components - Prepaid Expenses and Other Current Assets (Details) - USD ($) $ in Thousands		Oct. 01, 2023	Jan. 01, 2023
Related Party Transaction [Line Items]
Deferred project costs		$ 74,777	$ 125,604
Deferred costs for solar power systems		118,302	34,124
Other		32,980	34,124
Prepaid expenses and other current assets	[1]	233,558	197,811
Related Party
Related Party Transaction [Line Items]
Related-party receivables		$ 7,499	$ 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 10, Note 11, and Note 13)

Balance Sheet Components - Prop

Balance Sheet Components - Property, Plant and Equipment, Net (Details) - USD ($)	3 Months Ended		9 Months Ended		12 Months Ended
	Oct. 01, 2023	Oct. 02, 2022	Oct. 01, 2023	Oct. 02, 2022	Jan. 01, 2023
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 179,133,000		$ 179,133,000		$ 144,579,000
Vehicle finance leases	26,221,000		26,221,000		12,316,000
Less: accumulated depreciation and impairment	(73,064,000)		(73,064,000)		(68,106,000)
Property, plant and equipment, net	106,069,000		106,069,000		76,473,000
Property, plant and equipment, retired			21,900,000		100,000
Gain (loss) on disposal			0		0
Testing equipment and tools
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	1,973,000		1,973,000		1,157,000
Leasehold improvements
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	17,137,000		17,137,000		16,960,000
Solar power systems
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	12,709,000		12,709,000		10,271,000
Computer equipment
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	15,015,000		15,015,000		14,411,000
Internal-use software
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	82,515,000		82,515,000		71,477,000
Furniture and fixtures
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	7,895,000		7,895,000		8,088,000
Transportation equipment
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	6,481,000		6,481,000		3,941,000
Work-in-progress
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	9,187,000		9,187,000		$ 5,958,000
Asset Retirement Obligations
Property, Plant and Equipment [Line Items]
Depreciation and amortization	$ 11,400,000	$ 6,000,000	$ 30,500,000	$ 14,000,000

Balance Sheet Components - Othe

Balance Sheet Components - Other Long-term Assets (Details) $ in Thousands		3 Months Ended		9 Months Ended
		Oct. 01, 2023 USD ($) score	Oct. 02, 2022 USD ($)	Oct. 01, 2023 USD ($) score	Oct. 02, 2022 USD ($)	Jan. 01, 2023 USD ($)
Related Party Transaction [Line Items]
Equity investments without readily determinable fair value		$ 39,803		$ 39,803		$ 31,699
Equity investments with fair value option (“FVO”)		29,594		29,594		18,346
Cloud computing arrangements implementation costs, net of current portion		2,759		2,759		7,934
Retail installment contract receivables, net of current portion		88,026		88,026		98,001
Long-term deferred project costs		2,837		2,837		3,109
Derivative assets		3,712		3,712		2,293
Debt issuance costs		0		0		3,556
Loan receivables held for sale, net		811		811		0
Other		13,217		13,217		14,660
Other long-term assets	[1]	187,308		187,308		186,927
Capitalized computer software, amortization		1,400	$ 1,600	4,300	$ 3,500
Retail installment contract receivables, significant financing component		21,400		21,400		22,500
Retail installment contract receivables, allowance for credit loss		$ 1,100		$ 1,100		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		760		760
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 10, Note 11, and Note 13)

Balance Sheet Components - Accr

Balance Sheet Components - Accrued Liabilities (Details) - USD ($) $ in Thousands	Oct. 01, 2023	Jan. 01, 2023
Balance Sheet Related Disclosures [Abstract]
Employee compensation and employee benefits	$ 22,415	$ 36,452
Interest payable	734	8,549
Short-term warranty reserves	26,157	29,677
Restructuring reserve	1,674	2
Legal expenses	3,989	2,681
Taxes payable	9,429	9,641
Payable to related parties	7,959	11,239
Short-term finance lease liabilities	5,958	2,949
Indemnification obligations retained from C&I Solutions sale	22,608	20,781
Short-term asset retirement obligation liability	1,773	1,396
Other	27,947	24,752
Accrued liabilities	130,643	148,119
Warranty reserves	20,400	13,500
Other legal and indemnifications	$ 2,200	$ 7,300

Balance Sheet Components - Ot_2

Balance Sheet Components - Other Long-term Liabilities (Details) - USD ($) $ in Thousands		Oct. 01, 2023	Jan. 01, 2023
Related Party Transaction [Line Items]
Deferred revenue		$ 32,597	$ 35,864
Long-term warranty reserves		27,278	23,931
Unrecognized tax benefits		13,098	12,295
Long-term finance lease liabilities		15,709	7,878
Indemnification obligations retained from C&I Solutions sale		10,904	11,385
Long-term asset retirement obligation liability		2,536	2,395
Other		18,826	19,496
Other long-term liabilities	[1]	122,406	114,702
Warranty reserves		7,200	7,600
Other indemnifications		3,700	3,800
Related Party
Related Party Transaction [Line Items]
Related-party liabilities		$ 1,458	$ 1,458
[1]We have related-party balances for transactions made with TotalEnergies SE and its affiliates, Maxeon Solar Technologies, Ltd. (“Maxeon Solar”), and unconsolidated entities in which we have a direct equity investment. These related-party balances are recorded within the “accounts receivable, net,” “prepaid expenses and other current assets,” “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 10, Note 11, and Note 13)

Balance Sheet Components - Accu

Balance Sheet Components - Accumulated Other Comprehensive Income (Details) - USD ($) $ in Thousands	Oct. 01, 2023	Jan. 01, 2023
Balance Sheet Related Disclosures [Abstract]
Cumulative translation adjustment	$ 9,577	$ 9,576
Net gain on long-term pension liability obligation	1,992	1,992
Accumulated other comprehensive income	$ 11,569	$ 11,568

Loan Receivables Held For Sal_2

Loan Receivables Held For Sale - Summary of Loan Receivables (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Oct. 01, 2023	Oct. 01, 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	$ 11,947	$ 0
Additions	67,924	110,882
Proceeds from sales	(67,402)	(98,754)
Gain (loss) on sale	3,310	3,676
(Increase) decrease in valuation allowance	(336)	(361)
Balance at end of period	15,443	15,443
Transaction costs capitalized		5,300
Gain on loan receivables held-for-sale that were transferred and derecognized	3,100	3,600
Unrealized gain from contracts sold	$ 200	$ 100

Goodwill and Intangible Asset_2

Goodwill and Intangible Assets - Narrative (Details) - USD ($)	3 Months Ended		9 Months Ended
	Oct. 01, 2023	Oct. 02, 2022	Oct. 01, 2023	Oct. 02, 2022	Oct. 04, 2021
Finite-Lived Intangible Assets [Line Items]
Goodwill impairment loss			$ 0
Amortization of intangible assets	$ 3,200,000	$ 1,600,000	9,000,000	$ 4,800,000
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	Oct. 01, 2023	Jan. 01, 2023
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 36,740	$ 32,150
Accumulated Amortization	(16,910)	(7,958)
Net Book Value	19,830	24,192
Developed technology
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	3,700	3,700
Accumulated Amortization	(2,467)	(1,542)
Net Book Value	1,233	2,158
Brand
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	15,800	15,800
Accumulated Amortization	(7,900)	(4,937)
Net Book Value	7,900	10,863
Non-compete agreements
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	3,400	3,400
Accumulated Amortization	(2,267)	(1,417)
Net Book Value	1,133	1,983
Software development costs
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	13,840	9,250
Accumulated Amortization	(4,276)	(62)
Net Book Value	$ 9,564	$ 9,188

Goodwill and Intangible Asset_4

Goodwill and Intangible Assets - Schedule of Future Amortization Expense (Details) $ in Thousands	Oct. 01, 2023 USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
2023 (remaining three months)	$ 3,181
2024	10,871
2025	5,778
Total	$ 19,830

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	Oct. 01, 2023	Jan. 01, 2023
Assets
Loan receivables held for sale, net	$ 811	$ 0
Interest rate swaps	$ 3,712	2,293
Liabilities
Derivative Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration]	Other Liabilities, Noncurrent
Money Market Funds
Assets
Money market funds	$ 30,000
Fair Value, Recurring | Reported Value Measurement
Assets
Loan receivables held for sale, net	15,443
Total assets	78,749	450,593
Liabilities
Derivative liabilities	90
Total liabilities	90
Fair Value, Recurring | Estimate of Fair Value Measurement
Assets
Loan receivables held for sale, net	17,116
Total assets	80,422	450,593
Liabilities
Derivative liabilities	90
Total liabilities	90
Fair Value, Recurring | Equity Investments With FVO | Reported Value Measurement
Assets
Equity investments with FVO	29,594	18,346
Fair Value, Recurring | Equity Investments With FVO | Estimate of Fair Value Measurement
Assets
Equity investments with FVO	29,594	18,346
Fair Value, Recurring | Equity Investments With Readily Determinable Fair Value | Reported Value Measurement
Assets
Equity investments with readily determinable fair value		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		132,480
Fair Value, Recurring | Interest rate swap | Reported Value Measurement
Assets
Interest rate swaps	3,712	2,293
Fair Value, Recurring | Interest rate swap | Estimate of Fair Value Measurement
Assets
Interest rate swaps	3,712	2,293
Fair Value, Recurring | Money Market Funds | Reported Value Measurement
Assets
Money market funds	30,000	297,474
Fair Value, Recurring | Money Market Funds | Estimate of Fair Value Measurement
Assets
Money market funds	30,000	297,474
Level 3 | Fair Value, Recurring | Estimate of Fair Value Measurement
Assets
Loan receivables held for sale, net	0
Total assets	29,594	18,346
Liabilities
Derivative liabilities	0
Total liabilities	0
Level 3 | Fair Value, Recurring | Equity Investments With FVO | Estimate of Fair Value Measurement
Assets
Equity investments with FVO	29,594	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
Level 3 | Fair Value, Recurring | Interest rate swap | Estimate of Fair Value Measurement
Assets
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	17,116
Total assets	20,828	2,293
Liabilities
Derivative liabilities	90
Total liabilities	90
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
Level 2 | Fair Value, Recurring | Interest rate swap | Estimate of Fair Value Measurement
Assets
Interest rate swaps	3,712	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	30,000	429,954
Liabilities
Derivative liabilities	0
Total liabilities	0
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		132,480
Level 1 | Fair Value, Recurring | Interest rate swap | Estimate of Fair Value Measurement
Assets
Interest rate swaps	0	0
Level 1 | Fair Value, Recurring | Money Market Funds | Estimate of Fair Value Measurement
Assets
Money market funds	$ 30,000	$ 297,474

Fair Value Measurements - Equit

Fair Value Measurements - Equity Method Investments Activity (Details) - Equity investments with FVO $ in Thousands	9 Months Ended
	Oct. 01, 2023 USD ($)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance as of January 1, 2023	$ 18,346
Equity Distribution	0
Additional Investment	9,071
Other adjustment	2,177
Ending balance as of October 1, 2023	$ 29,594

Fair Value Measurements - Level

Fair Value Measurements - Level 3 Significant Unobservable Input Sensitivity (Details) - Equity investments with FVO - Level 3 $ in Thousands	Oct. 01, 2023 USD ($)
Discounted cash flows
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Total assets	$ 29,594
Measurement Input, Default Rate | Discounted cash flows
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input	0.142
Measurement Input, Default Rate | Valuation Technique, Residual
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input	0.095
Measurement Input, Default Rate | Minimum | Discounted cash flows
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input	0.140
Measurement Input, Default Rate | Minimum | Valuation Technique, Residual
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input	0.064
Measurement Input, Default Rate | Maximum | Discounted cash flows
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input	0.145
Measurement Input, Default Rate | Maximum | Valuation Technique, Residual
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input	0.175

Fair Value Measurements - Narra

Fair Value Measurements - Narrative (Details) - USD ($) $ in Millions			3 Months Ended		9 Months Ended
	Jan. 05, 2023	Aug. 09, 2018	Oct. 01, 2023	Oct. 02, 2022	Oct. 01, 2023	Oct. 02, 2022
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Unrealized gain (loss) on investments					$ (10.8)
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 accrued liabilities		Increase (decrease) in accrued liabilities
Money Market Funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents			$ 30		$ 30
Credit Suisse Interest Rate Swap
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets					3.7
Gain (loss) on derivatives			$ 1.2	$ 2.8	$ 1.4	$ 2.3
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	Interest expense incurred on the 4.00% debentures due 2023	Interest expense incurred on the 4.00% debentures due 2023
Credit Suisse 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			$ 65.8		$ 65.8
Bank of America Interest Rate Swap
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Gain (loss) on derivatives			$ (0.2)		$ 0.1
Derivative, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]			Total revenues		Total revenues
Derivative liabilities					$ 0.1
Cash received to settle derivative			$ 5.9
Bank of America Interest Rate Swap | Derivatives not designated as hedging instruments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative liability, notional amount			150		150
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Retail installment contract receivables, net of current portion			74.7		74.7
Accounts receivable
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Retail installment contract receivables, net of current portion			$ 101.9		$ 101.9
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		2,000,000
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			$ 290.3		$ 440.1

Restructuring - Narrative (Deta

Restructuring - Narrative (Details) $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 01, 2023 USD ($) employee	Oct. 02, 2022 USD ($)	Oct. 01, 2023 USD ($)	Oct. 02, 2022 USD ($)
Restructuring Cost and Reserve [Line Items]
Restructuring charges	$ 5,873	$ 111	$ 5,873	$ 244
Fiscal 2023 Restructuring Plans
Restructuring Cost and Reserve [Line Items]
Restructuring incurred cost			5,900
Expected associated cost reductions			20,600
July 2023 Restructuring Plan
Restructuring Cost and Reserve [Line Items]
Reorganization, number of jobs affected | employee	140
Reorganization, number of jobs affected as a percentage of global workforce	5%
Restructuring charges	$ 4,826		4,826
September 2023 Restructuring Plan
Restructuring Cost and Reserve [Line Items]
Reorganization, number of jobs affected | employee	55
Restructuring charges	$ 1,047		$ 1,047

Restructuring - Schedule of Res

Restructuring - Schedule of Restructuring Charges (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 01, 2023	Oct. 02, 2022	Oct. 01, 2023	Oct. 02, 2022
Restructuring Cost and Reserve [Line Items]
Restructuring charges	$ 5,873	$ 111	$ 5,873	$ 244
Cumulative To Date	5,873		5,873
July 2023 Restructuring Plan
Restructuring Cost and Reserve [Line Items]
Restructuring charges	4,826		4,826
Cumulative To Date	4,826		4,826
September 2023 Restructuring Plan
Restructuring Cost and Reserve [Line Items]
Restructuring charges	1,047		1,047
Cumulative To Date	1,047		1,047
Severance and benefits | July 2023 Restructuring Plan
Restructuring Cost and Reserve [Line Items]
Restructuring charges	4,667		4,667
Cumulative To Date	4,667		4,667
Severance and benefits | September 2023 Restructuring Plan
Restructuring Cost and Reserve [Line Items]
Restructuring charges	959		959
Cumulative To Date	959		959
Other costs | July 2023 Restructuring Plan
Restructuring Cost and Reserve [Line Items]
Restructuring charges	159		159
Cumulative To Date	159		159
Other costs | September 2023 Restructuring Plan
Restructuring Cost and Reserve [Line Items]
Restructuring charges	88		88
Cumulative To Date	$ 88		$ 88

Restructuring - Schedule of R_2

Restructuring - Schedule of Restructuring Reserve (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 01, 2023	Oct. 02, 2022	Oct. 01, 2023	Oct. 02, 2022
Restructuring Reserve [Roll Forward]
Restructuring reserve, beginning	$ 0
Restructuring charges (credits)	5,873	$ 111	$ 5,873	$ 244
(Payments) Recoveries	(4,199)
Restructuring reserve, end	1,674		1,674
July 2023 Restructuring Plan
Restructuring Reserve [Roll Forward]
Restructuring reserve, beginning	0
Restructuring charges (credits)	4,826		4,826
(Payments) Recoveries	(4,167)
Restructuring reserve, end	659		659
September 2023 Restructuring Plan
Restructuring Reserve [Roll Forward]
Restructuring reserve, beginning	0
Restructuring charges (credits)	1,047		1,047
(Payments) Recoveries	(32)
Restructuring reserve, end	1,015		1,015
Severance and benefits | July 2023 Restructuring Plan
Restructuring Reserve [Roll Forward]
Restructuring reserve, beginning	0
Restructuring charges (credits)	4,667		4,667
(Payments) Recoveries	(4,167)
Restructuring reserve, end	500		500
Severance and benefits | September 2023 Restructuring Plan
Restructuring Reserve [Roll Forward]
Restructuring reserve, beginning	0
Restructuring charges (credits)	959		959
(Payments) Recoveries	(32)
Restructuring reserve, end	927		927
Other costs | July 2023 Restructuring Plan
Restructuring Reserve [Roll Forward]
Restructuring reserve, beginning	0
Restructuring charges (credits)	159		159
(Payments) Recoveries	0
Restructuring reserve, end	159		159
Other costs | September 2023 Restructuring Plan
Restructuring Reserve [Roll Forward]
Restructuring reserve, beginning	0
Restructuring charges (credits)	88		88
(Payments) Recoveries	0
Restructuring reserve, end	$ 88		$ 88

Commitments and Contingencies -

Commitments and Contingencies - Facility and Equipment Leases (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 01, 2023	Oct. 02, 2022	Oct. 01, 2023	Oct. 02, 2022	Jan. 01, 2023
Commitments and Contingencies Disclosure [Abstract]
Operating lease expense	$ 3,676	$ 3,609	$ 10,958	$ 10,188
Finance lease expense:
Amortization expense	1,285	615	3,091	764
Interest expense on lease liabilities	354	111	817	142
Sublease income	(515)	(429)	(1,556)	(620)
Total	4,800	3,906	13,310	10,474
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows for operating leases	4,191	4,565	12,091	13,404
Operating cash flows for finance leases	354	111	817	142
Financing cash flows for finance leases	1,285	615	3,091	764
Right-of-use assets and property, plant, and equipment obtained in exchange for leases:
Operating leases	197	12,479	4,006	12,988
Finance leases	$ 5,939	$ 3,338	$ 14,603	$ 7,526
Weighted-average remaining lease term (in years):
Operating leases	3 years 7 months 6 days		3 years 7 months 6 days		3 years 8 months 12 days
Finance leases	3 years 6 months		3 years 6 months		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	Oct. 01, 2023 USD ($)
Operating Leases
2023 (remaining three months)	$ 3,022
2024	13,252
2025	9,489
2026	7,841
2027	4,932
Thereafter	2,090
Total lease payments	40,626
Less: imputed interest	(5,452)
Total	35,174
Finance Leases
2023 (remaining three months)	1,806
2024	7,201
2025	7,116
2026	5,635
2027	2,207
Thereafter	307
Total lease payments	24,272
Less: imputed interest	(2,605)
Total	$ 21,667

Commitments and Contingencies_3

Commitments and Contingencies - Purchase Commitment (Details) $ in Thousands	Oct. 01, 2023 USD ($)
Future purchase obligations
Fiscal 2023 (remaining three months)	$ 45,833
Fiscal 2024	22,193
Fiscal 2025	5,988
Fiscal 2026	5,838
Fiscal 2027	5,844
Thereafter	4,167
Total	$ 89,863

Commitments and Contingencies_4

Commitments and Contingencies - Purchase Commitment - Narrative (Details)	Oct. 01, 2023 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		9 Months Ended
	Oct. 01, 2023	Oct. 02, 2022	Oct. 01, 2023	Oct. 02, 2022
Movement in Standard and Extended Product Warranty Accrual, Increase (Decrease) [Roll Forward]
Balance at the beginning of the period	$ 83,101	$ 75,813	$ 74,751	$ 80,592
Accruals for warranties issued during the period	6,821	6,163	27,838	10,490
Settlements and adjustments during the period	(8,859)	(6,103)	(21,526)	(15,209)
Balance at the end of the period	81,063	75,873	81,063	75,873
Additional warranty expense	$ 300	$ 2,300	$ 9,000	$ 2,300

Commitments and Contingencies_6

Commitments and Contingencies - Liabilities Associated with Uncertain Tax Positions - Narrative (Details) - USD ($) $ in Millions	Oct. 01, 2023	Jan. 01, 2023
Commitments and Contingencies Disclosure [Abstract]
Unrecognized tax benefits	$ 13.1	$ 12.3

Commitments and Contingencies_7

Commitments and Contingencies - Indemnifications - Narrative (Details) - USD ($) $ in Thousands	Oct. 01, 2023	Jul. 02, 2023	Jan. 01, 2023	Oct. 02, 2022	Jul. 03, 2022	Jan. 02, 2022
Other Commitments [Line Items]
Income tax contingencies	$ 8,200		$ 8,200
Estimated litigation liability	2,800
Accrued warranty reserve	81,063	$ 83,101	74,751	$ 75,873	$ 75,813	$ 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	$ 27,600

Equity Investments - Equity Met

Equity Investments - Equity Method Investments (Details) $ in Thousands	3 Months Ended		9 Months Ended		12 Months Ended
	Oct. 01, 2023 USD ($)	Oct. 02, 2022 USD ($)	Oct. 01, 2023 USD ($)	Oct. 02, 2022 USD ($)	Jan. 01, 2023 USD ($) investment	Apr. 30, 2023
Schedule of Equity Method Investments [Line Items]
Equity investments without readily determinable fair value	$ 39,803		$ 39,803		$ 31,699
Equity investments with fair value option (“FVO”)	29,594		29,594		18,346
Total equity investments	69,397		69,397		$ 182,525
Number of equity investments entered into | investment					4
Proceeds from dividend		$ 300	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	34,523		34,523		26,419
Earnings from equity method investment	800	$ 200	1,200	$ 200
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”)	12,110		12,110		9,871
Dorado Development Partners, LLC
Schedule of Equity Method Investments [Line Items]
Equity investments with fair value option (“FVO”)	17,181		17,181		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”)	$ 29,594		$ 29,594		$ 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) $ in Thousands	1 Months Ended			3 Months Ended	9 Months Ended
	Sep. 30, 2023 company	Apr. 30, 2023 USD ($)	Mar. 31, 2022 USD ($)	Oct. 01, 2023 USD ($)	Oct. 01, 2023 USD ($)	Oct. 02, 2022 USD ($)
Schedule of Equity Method Investments [Line Items]
Number of LLCs formed | company	2
Cash paid for equity investment					$ 7,500	$ 30,920
Dorado DevCo
Schedule of Equity Method Investments [Line Items]
Ownership percentage			50%
Cash paid for equity investment				$ 100	7,200
Dorado DevCo | Variable Interest Entity, Not Primary Beneficiary
Schedule of Equity Method Investments [Line Items]
Capital contribution in equity method investee, maximum amount			$ 17,200
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				$ 1,300	$ 1,900
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

Equity Investments - Summarized

Equity Investments - Summarized Financial Information of Unconsolidated VIEs (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 01, 2023	Oct. 02, 2022	Oct. 01, 2023	Oct. 02, 2022	Jan. 01, 2023
Schedule of Investments [Line Items]
Net (loss) income	$ 29	$ 3,225	$ 124	$ 3,421
Net (loss) income attributable to parents	(37,364)	135,614	(123,208)	39,424
Current assets	927,200		927,200		$ 1,252,519
Current liabilities	865,998		865,998		1,051,636
SunStrong Capital Holdings, LLC | Variable Interest Entity, Not Primary Beneficiary
Schedule of Investments [Line Items]
Revenues	43,621	37,444	120,780	109,604
Net (loss) income	1,557	2,307	(9,130)	(4,817)
Net (loss) income attributable to parents	5,177	$ 7,201	5,154	$ 15,983
Current assets	102,997		102,997		88,561
Long-term assets	2,073,553		2,073,553		1,823,437
Current liabilities	74,489		74,489		94,414
Long-term liabilities	$ 1,514,828		$ 1,514,828		$ 1,378,462

Equity Investments - Related Pa

Equity Investments - Related Party Transactions with Investees (Details) - USD ($) $ in Thousands		3 Months Ended		9 Months Ended
		Oct. 01, 2023	Oct. 02, 2022	Oct. 01, 2023	Oct. 02, 2022	Jul. 02, 2023	Jan. 01, 2023
Schedule of Equity Method Investments [Line Items]
Accounts receivable, net	[1]	$ 203,689		$ 203,689			$ 169,674
Loan receivables held for sale, net		15,443		15,443		$ 11,947	0
Prepaid expenses and other current assets	[1]	233,558		233,558			197,811
Other long-term assets	[1]	187,308		187,308			186,927
Accrued liabilities	[1]	130,643		130,643			148,119
Contract liabilities		242,396		242,396			153,451
Investee
Schedule of Equity Method Investments [Line Items]
Accounts receivable, net		60,495		60,495			33,864
Loan receivables held for sale, net		17,040		17,040			0
Prepaid expenses and other current assets		6,720		6,720			3,959
Other long-term assets		6,549		6,549			6,549
Accounts payable		742		742			165
Accrued liabilities		858		858			97
Contract liabilities		186,112		186,112			$ 63,504
Revenues and fees received from investees for products/services		$ 145,336	$ 77,770	$ 348,080	$ 170,631
[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 10, Note 11, and Note 13)

Equity Investments - Consolidat

Equity Investments - Consolidated VIEs (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 01, 2023	Oct. 02, 2022	Oct. 01, 2023	Oct. 02, 2022	Jan. 01, 2023
Variable Interest Entity [Line Items]
Total assets	$ 1,447,332		$ 1,447,332		$ 1,763,626
Variable Interest Entity, Primary Beneficiary | Solar Sail
Variable Interest Entity [Line Items]
Revenues	700	$ 5,400	7,300	$ 13,500
Total assets	$ 23,100		$ 23,100

Debt and Credit Sources - Sched

Debt and Credit Sources - Schedule of Debt (Details) - USD ($) $ in Thousands	Jan. 17, 2023	Oct. 01, 2023	Jan. 01, 2023	Dec. 31, 2015
Debt Instrument [Line Items]
Face Value		$ 311,858	$ 508,672
Short-term		306,375	507,159
Long-term		255	308
Total		306,630	507,467
Total recourse debt
Debt Instrument [Line Items]
Face Value		246,250	436,724
Short-term		242,319	436,652
Long-term		0	0
Total		242,319	436,652
Total non-recourse debt
Debt Instrument [Line Items]
Face Value		65,608	71,948
Short-term		64,056	70,507
Long-term		255	308
Total		64,311	70,815
Revolver And Term Loan Facility | Total recourse debt
Debt Instrument [Line Items]
Total		242,319	0
Credit Suisse Warehouse Loan3 | Total non-recourse debt
Debt Instrument [Line Items]
Face Value		65,272	71,577
Short-term		63,991	70,443
Long-term		0	0
Total		63,991	70,443
Other debt | Total recourse debt
Debt Instrument [Line Items]
Face Value		0	11,733
Short-term		0	11,733
Long-term		0	0
Total		0	11,733
Other debt | Total non-recourse debt
Debt Instrument [Line Items]
Face Value		336	371
Short-term		65	64
Long-term		255	308
Total		320	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
Convertible Debt | Revolver And Term Loan Facility | Total recourse debt
Debt Instrument [Line Items]
Face Value		246,250	0
Short-term		242,319	0
Long-term		$ 0	$ 0

Debt and Credit Sources - Sch_2

Debt and Credit Sources - Schedule of Maturities (Details) - USD ($) $ in Thousands	Oct. 01, 2023	Jan. 01, 2023
Aggregate future maturities of outstanding debt
Fiscal 2023 (remaining three months)	$ 1,267
Fiscal 2024	310,341
Fiscal 2025	73
Fiscal 2026	76
Fiscal 2027	80
Thereafter	21
Total	$ 311,858	$ 508,672

Debt and Credit Sources - Bank

Debt and Credit Sources - Bank of the West (Details) - Letter of Credit - Bank of the West - USD ($) $ in Millions	Oct. 01, 2023	Sep. 30, 2023	Oct. 31, 2021
October 2021 Letter of Credit
Debt Instrument [Line Items]
Maximum borrowing capacity			$ 25
Cash collateral for borrowed securities			50%
Letters of credit outstanding, amount	$ 5
Restricted cash	$ 2.5
Amended October 2021 Letter of Credit Agreement
Debt Instrument [Line Items]
Maximum borrowing capacity		$ 5
Cash collateral for borrowed securities		50%

Debt and Credit Sources - Loan

Debt and Credit Sources - Loan Facility with Credit Suisse AG (Details) - Line of Credit - USD ($)	Oct. 01, 2023	Jun. 30, 2022
Line of Credit Facility [Line Items]
Maximum borrowing capacity	$ 50,000,000
Term Loan Facility with Credit Suisse AG
Line of Credit Facility [Line Items]
Maximum borrowing capacity		$ 100,000,000
Long-term line of credit	65,300,000
Amount being held in a liquidity reserve account	$ 600,000
Term Loan Facility with Credit Suisse AG | Minimum
Line of Credit Facility [Line Items]
Weighted-average interest rate	6.30%
Term Loan Facility with Credit Suisse AG | Maximum
Line of Credit Facility [Line Items]
Weighted-average interest rate	6.80%

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	Oct. 01, 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 | Secured Overnight Financing Rate
Debt Instrument [Line Items]
Basis spread		1%
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			96.6
Revolver
Debt Instrument [Line Items]
Borrowings outstanding			149.6
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			9 Months Ended
		Oct. 01, 2023		Oct. 02, 2022	Oct. 01, 2023		Oct. 02, 2022	Jan. 01, 2023
Related Party Transaction [Line Items]
Total cost of revenues		$ 358,181		$ 359,728	$ 1,100,841		$ 954,738
Research and development expenses reimbursement received		5,406	[1]	6,846	19,161	[1]	19,199
Prepaid expenses and other current assets	[2]	233,558			233,558			$ 197,811
Accrued liabilities	[2]	130,643			130,643			148,119
Other long-term liabilities	[2]	122,406			122,406			114,702
Maxeon Solar | Related Party
Related Party Transaction [Line Items]
Total cost of revenues		24,124		68,060	173,014		203,121
Research and development expenses reimbursement received		129		840	1,135		18,375
Sublease income (recorded in sales, general, and administrative expense)		468		176	1,404		176
(Expense) income from transition services agreement, net		(24)		$ (36)	(74)		$ (326)
Prepaid expenses and other current assets		419			419			607
Accrued liabilities		7,959			7,959			11,239
Accounts payable		3,697			3,697			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: expense (income) from transition services agreement, net,” “other (expense) income, 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 11, and Note 13).

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Thousands		3 Months Ended		9 Months Ended
		Oct. 01, 2023	Oct. 02, 2022	Oct. 01, 2023	Oct. 02, 2022	Jan. 01, 2023
Income Tax Disclosure [Abstract]
Income tax provision (benefit), continuing operations		$ (137)	$ 2,442	$ 1,569	$ (6,480)
Income (loss) from continuing operations before income taxes		(38,746)	141,382	(113,208)	83,884
(Loss) income from discontinued operations before income taxes and equity in earnings (losses) of unconsolidated investees	[1]	(1,924)	(2,395)	(12,080)	(50,253)
Income tax benefit from discontinued operations		208	$ 358	363	$ 798
Unrecognized tax benefits		$ 13,100		13,100		$ 12,300
Valuation allowance, deferred tax asset, increase				$ (800)
[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: expense (income) from transition services agreement, net,” “other (expense) income, 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 11, and Note 13).

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		9 Months Ended
	Oct. 01, 2023	Oct. 02, 2022	Oct. 01, 2023	Oct. 02, 2022	Dec. 31, 2015
Numerator:
Net (loss) income available to stockholders - continuing operations	$ (35,648)	$ 137,651	$ (111,491)	$ 88,629
Net (loss) income available to common stockholders - continuing operations	(35,648)	140,677	(111,491)	97,707
Net (loss) income attributable to stockholders - discontinued operations	(1,716)	(2,037)	(11,717)	(49,205)
Net (loss) income attributable to stockholders	$ (37,364)	$ 135,614	$ (123,208)	$ 39,424
Denominator:
Basic weighted-average common shares (in shares)	175,241	174,118	174,937	173,815
Basic net (loss) income per share - continuing operations (in dollars per share)	$ (0.20)	$ 0.79	$ (0.64)	$ 0.51
Basic net loss per share - discontinued operations (in dollars per share)	(0.01)	(0.01)	(0.07)	(0.28)
Net income (loss) per share – basic (in dollars per share)	$ (0.21)	$ 0.78	$ (0.71)	$ 0.23
Dilutive weighted-average common shares (in shares)	175,241	192,497	174,937	191,589
Dilutive net income (loss) per share - continuing operations (in dollars per share)	$ (0.20)	$ 0.73	$ (0.64)	$ 0.51
Dilutive net (loss) income per share - discontinued operations (in dollars per share)	(0.01)	(0.01)	(0.07)	(0.26)
Net income (loss) per share – diluted (in dollars per share)	$ (0.21)	$ 0.72	$ (0.71)	$ 0.25
Restricted stock units
Denominator:
Restricted stock units (in shares)	0	1,311	0	706
4.00% convertible debentures due 2023
Numerator:
Interest rate	4%		4%
Denominator:
Interest expense of effect of dilutive securities (in shares)	0	17,068	0	17,068
0.875% debentures due 2021
Numerator:
Interest on convertible debt	$ 0	$ 3,026	$ 0	$ 9,078
4.00% convertible debentures due 2023 | Convertible Debt
Numerator:
Interest rate					4%

Net (Loss) Income Per Share - A

Net (Loss) Income Per Share - Anti-dilutive Securities (Details) - shares shares in Thousands	3 Months Ended		9 Months Ended
	Oct. 01, 2023	Oct. 02, 2022	Oct. 01, 2023	Oct. 02, 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)	4,722	1,119	4,503	3,422
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	0	1,000	0

Stock-Based Compensation (Detai

Stock-Based Compensation (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 01, 2023	Oct. 02, 2022	Oct. 01, 2023	Oct. 02, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense	$ 5,603	$ 6,557	$ 21,139	$ 19,009
Cost of revenues
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense	887	1,144	4,040	3,494
Research and development
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense	446	454	1,671	1,293
Sales, general, and administrative
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense	$ 4,270	$ 4,959	$ 15,428	$ 14,222

Subsequent Events (Details)

Subsequent Events (Details) $ in Millions			3 Months Ended
	Dec. 08, 2023 USD ($)	Jan. 26, 2023 USD ($)	Jan. 31, 2024 USD ($) employee
Revolver And Term Loan Facility
Subsequent Event [Line Items]
Increase in revolver commitments, amount		$ 100
Revolver And Term Loan Facility | Subsequent Event
Subsequent Event [Line Items]
Increase in revolver commitments, amount	$ 25
Current borrowing capacity	25
Forecast | Revolver And Term Loan Facility
Subsequent Event [Line Items]
Current borrowing capacity	$ 25
Forecast | Severance and benefits
Subsequent Event [Line Items]
Restructuring, number of jobs affected | employee			83
Severance costs			$ 2.6
Forecast | Other restructuring
Subsequent Event [Line Items]
Asset impairment			$ 4.3