Adjustments to Current Assets
Adjustments to Total Assets
Adjustments to Current Liabilities
Adjustments to Total Liabilities
Adjustments to Stockholders’ Equity
Adjustments to Capitalization Table
Adjustments to Revenues
Adjustments to Reported Income

First Solar Inc., adjusted current assets

US$ in thousands

	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018
As Reported
Current assets	3,791,421)	3,191,243)	3,014,535)	3,599,834)	3,859,523)
Adjustments
Add: Allowance for credit losses	1,042)	664)	3,009)	1,386)	1,362)
After Adjustment
Adjusted current assets	3,792,463)	3,191,907)	3,017,544)	3,601,220)	3,860,885)

Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31).

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First Solar Inc., adjusted total assets

US$ in thousands

	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018
As Reported
Total assets	8,251,228)	7,413,746)	7,108,931)	7,515,689)	7,121,362)
Adjustments
Add: Operating lease right-of-use asset (before adoption of FASB Topic 842)¹	—)	—)	—)	—)	146,814)
Add: Allowance for credit losses	1,042)	664)	3,009)	1,386)	1,362)
Less: Deferred tax assets, net²	78,680)	59,162)	104,099)	130,771)	77,682)
After Adjustment
Adjusted total assets	8,173,590)	7,355,248)	7,007,841)	7,386,304)	7,191,856)

Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31).

¹ Operating lease right-of-use asset (before adoption of FASB Topic 842). See details »

² Deferred tax assets, net. See details »

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First Solar Inc., adjusted current liabilities

US$ in thousands

	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018
As Reported
Current liabilities	1,038,048)	726,878)	847,398)	1,318,208)	845,457)
Adjustments
Less: Current deferred revenue	263,215)	201,868)	188,813)	323,217)	129,755)
Less: Current portion of product warranty liability	10,660)	13,598)	22,278)	20,291)	27,657)
After Adjustment
Adjusted current liabilities	764,173)	511,412)	636,307)	974,700)	688,045)

Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31).

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First Solar Inc., adjusted total liabilities

US$ in thousands

	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018
As Reported
Total liabilities	2,415,173)	1,454,195)	1,588,003)	2,418,922)	1,908,959)
Adjustments
Add: Operating lease liability (before adoption of FASB Topic 842)¹	—)	—)	—)	—)	146,814)
Less: Deferred tax liabilities, net²	28,929)	27,699)	23,671)	6,493)	13,041)
Less: Deferred revenue	1,207,940)	297,811)	233,732)	394,655)	177,769)
Less: Product warranty liability	33,787)	52,553)	95,096)	129,797)	220,692)
After Adjustment
Adjusted total liabilities	1,144,517)	1,076,132)	1,235,504)	1,887,977)	1,644,271)

Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31).

¹ Operating lease liability (before adoption of FASB Topic 842). See details »

² Deferred tax liabilities, net. See details »

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First Solar Inc., adjusted stockholders’ equity

US$ in thousands

	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018
As Reported
Stockholders’ equity	5,836,055)	5,959,551)	5,520,928)	5,096,767)	5,212,403)
Adjustments
Less: Net deferred tax assets (liabilities)¹	49,751)	31,463)	80,428)	124,278)	64,641)
Add: Allowance for credit losses	1,042)	664)	3,009)	1,386)	1,362)
Add: Deferred revenue	1,207,940)	297,811)	233,732)	394,655)	177,769)
Add: Product warranty liability	33,787)	52,553)	95,096)	129,797)	220,692)
After Adjustment
Adjusted stockholders’ equity	7,029,073)	6,279,116)	5,772,337)	5,498,327)	5,547,585)

Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31).

¹ Net deferred tax assets (liabilities). See details »

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First Solar Inc., adjusted capitalization table

US$ in thousands

	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018
As Reported
Current portion of long-term debt	—)	3,896)	41,540)	17,510)	5,570)
Long-term debt, noncurrent portion	184,349)	236,005)	237,691)	454,187)	461,221)
Total reported debt	184,349)	239,901)	279,231)	471,697)	466,791)
Stockholders’ equity	5,836,055)	5,959,551)	5,520,928)	5,096,767)	5,212,403)
Total reported capital	6,020,404)	6,199,452)	5,800,159)	5,568,464)	5,679,194)
Adjustments to Debt
Add: Operating lease liability (before adoption of FASB Topic 842)¹	—)	—)	—)	—)	146,814)
Add: Operating lease liabilities, current²	9,193)	12,781)	14,006)	11,102)	—)
Add: Operating lease liabilities, noncurrent³	40,589)	145,912)	189,034)	112,515)	—)
Adjusted total debt	234,131)	398,594)	482,271)	595,314)	613,605)
Adjustments to Equity
Less: Net deferred tax assets (liabilities)⁴	49,751)	31,463)	80,428)	124,278)	64,641)
Add: Allowance for credit losses	1,042)	664)	3,009)	1,386)	1,362)
Add: Deferred revenue	1,207,940)	297,811)	233,732)	394,655)	177,769)
Add: Product warranty liability	33,787)	52,553)	95,096)	129,797)	220,692)
Adjusted stockholders’ equity	7,029,073)	6,279,116)	5,772,337)	5,498,327)	5,547,585)
After Adjustment
Adjusted total capital	7,263,204)	6,677,710)	6,254,608)	6,093,641)	6,161,190)

Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31).

¹ Operating lease liability (before adoption of FASB Topic 842). See details »

² Operating lease liabilities, current. See details »

³ Operating lease liabilities, noncurrent. See details »

⁴ Net deferred tax assets (liabilities). See details »

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First Solar Inc., adjusted net sales

US$ in thousands

12 months ended:	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018
As Reported
Net sales	2,619,319)	2,923,377)	2,711,332)	3,063,117)	2,244,044)
Adjustment
Add: Increase (decrease) in deferred revenue	910,129)	64,079)	(160,923)	216,886)	32,696)
After Adjustment
Adjusted net sales	3,529,448)	2,987,456)	2,550,409)	3,280,003)	2,276,740)

Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31).

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First Solar Inc., adjusted net income (loss)

US$ in thousands

12 months ended:	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018
As Reported
Net income (loss)	(44,166)	468,693)	398,355)	(114,933)	144,326)
Adjustments
Add: Deferred income tax expense (benefit)¹	(6,053)	80,360)	11,538)	(60,411)	52,488)
Add: Increase (decrease) in allowance for credit losses	378)	(2,345)	1,623)	24)	(617)
Add: Increase (decrease) in deferred revenue	910,129)	64,079)	(160,923)	216,886)	32,696)
Add: Increase (decrease) in product warranty liability	(18,766)	(42,543)	(34,701)	(90,895)	(3,582)
Add: Other comprehensive income (loss)	(95,455)	(34,636)	17,608)	(24,868)	(56,725)
After Adjustment
Adjusted net income (loss)	746,067)	533,608)	233,500)	(74,197)	168,586)

Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31).

¹ Deferred income tax expense (benefit). See details »

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First Solar Inc. (NASDAQ:FSLR)

Adjustments to Financial Statements

Adjustments to Current Assets

Adjustments to Total Assets

Adjustments to Current Liabilities

Adjustments to Total Liabilities

Adjustments to Stockholders’ Equity

Adjustments to Capitalization Table

Adjustments to Revenues

Adjustments to Reported Income