Balance Sheet: Liabilities and Stockholders’ Equity
Quarterly Data

The balance sheet provides creditors, investors, and analysts with information on company resources (assets) and its sources of capital (its equity and liabilities). It normally also provides information about the future earnings capacity of a company assets as well as an indication of cash flows that may come from receivables and inventories.

Liabilities represents obligations of a company arising from past events, the settlement of which is expected to result in an outflow of economic benefits from the entity.

SolarEdge Technologies Inc., consolidated balance sheet: liabilities and stockholders’ equity (quarterly data)

US$ in thousands

	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019	Dec 31, 2018	Sep 30, 2018	Jun 30, 2018	Mar 31, 2018
Trade payables, net	459,831)	311,565)	253,399)	241,630)	252,068)	137,621)	141,174)	122,063)	162,051)	122,106)	158,264)	139,138)	157,148)	132,230)	116,795)	90,190)	107,079)	83,459)	81,610)	83,091)
Employees and payroll accruals	85,158)	71,905)	68,154)	84,309)	74,465)	63,845)	58,340)	63,929)	63,738)	50,814)	48,764)	58,894)	47,390)	44,386)	34,555)	31,524)	29,053)	23,680)	23,510)	29,733)
Warranty obligations	103,975)	97,222)	91,761)	82,340)	71,480)	67,096)	64,855)	63,443)	62,614)	65,080)	68,674)	70,158)	65,112)	45,887)	38,819)	35,229)	28,868)	21,660)	18,964)	16,605)
Deferred revenues and customers advances	26,641)	31,896)	30,460)	25,511)	17,789)	16,939)	16,144)	21,065)	24,648)	27,267)	25,625)	30,706)	70,815)	15,006)	15,708)	13,527)	14,351)	5,795)	3,407)	3,010)
Accrued expenses and other current liabilities	214,112)	181,892)	168,400)	134,951)	109,379)	120,006)	119,072)	127,226)	123,048)	117,270)	103,738)	90,785)	96,249)	97,898)	87,901)	77,602)	46,367)	31,556)	26,480)	26,170)
Current liabilities	889,717)	694,480)	612,174)	568,741)	525,181)	405,507)	399,585)	397,726)	436,099)	382,537)	405,065)	389,681)	436,714)	335,407)	293,778)	248,072)	225,718)	166,150)	153,971)	158,609)
Convertible senior notes, net	624,451)	623,721)	622,991)	622,263)	621,535)	620,808)	620,082)	619,357)	573,350)	570,332)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)
Warranty obligations	281,082)	248,917)	232,415)	210,326)	193,680)	179,967)	167,312)	154,510)	142,380)	130,614)	124,010)	116,099)	107,451)	125,467)	111,819)	101,517)	92,958)	86,059)	78,327)	71,590)
Deferred revenues	186,936)	176,824)	170,235)	158,734)	151,556)	136,269)	128,109)	122,168)	115,372)	109,439)	103,181)	98,134)	89,982)	81,934)	73,796)	66,037)	60,670)	53,663)	47,595)	41,866)
Long-term finance lease liabilities	45,385)	45,509)	46,680)	53,405)	40,508)	25,375)	25,525)	24,918)	26,173)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)
Long-term operating lease liabilities	46,256)	46,398)	42,849)	48,480)	38,912)	31,509)	31,153)	32,667)	35,194)	29,442)	29,991)	30,336)	30,213)	29,117)	30,009)	24,790)	—)	—)	—)	—)
Other long-term liabilities	15,756)	15,570)	17,902)	10,441)	10,649)	15,315)	14,766)	13,325)	22,784)	23,895)	18,778)	13,172)	18,594)	28,479)	32,244)	38,990)	14,400)	7,343)	18,446)	19,285)
Long-term liabilities	1,199,866)	1,156,939)	1,133,072)	1,103,649)	1,056,840)	1,009,243)	986,947)	966,945)	915,253)	863,722)	275,960)	257,741)	246,240)	264,997)	247,868)	231,334)	168,028)	147,065)	144,368)	132,741)
Total liabilities	2,089,583)	1,851,419)	1,745,246)	1,672,390)	1,582,021)	1,414,750)	1,386,532)	1,364,671)	1,351,352)	1,246,259)	681,025)	647,422)	682,954)	600,404)	541,646)	479,406)	393,746)	313,215)	298,339)	291,350)
Common stock of $0.0001 par value	6)	6)	6)	6)	5)	5)	5)	5)	5)	5)	5)	5)	5)	5)	5)	5)	5)	5)	5)	4)
Additional paid-in capital	1,505,632)	1,457,379)	1,418,881)	1,373,405)	687,295)	652,109)	625,268)	595,716)	603,891)	574,326)	511,640)	491,873)	475,792)	450,459)	431,684)	417,385)	371,794)	361,744)	353,470)	343,356)
Accumulated other comprehensive income (loss)	(73,109)	(128,266)	(89,620)	(46,067)	(27,319)	(19,135)	(3,536)	(6,761)	3,857)	(2,643)	(3,442)	(5,390)	(1,809)	(3,356)	(895)	(1,220)	(524)	(983)	(1,138)	(1,135)
Retained earnings	743,837)	723,008)	698,265)	683,181)	650,058)	609,104)	556,056)	510,964)	478,004)	460,349)	416,598)	379,930)	337,682)	284,904)	243,277)	210,149)	191,133)	178,197)	132,554)	97,986)
Total SolarEdge Technologies, Inc. stockholders’ equity	2,176,366)	2,052,127)	2,027,532)	2,010,525)	1,310,039)	1,242,083)	1,177,793)	1,099,924)	1,085,757)	1,032,037)	924,801)	866,418)	811,670)	732,012)	674,071)	626,319)	562,408)	538,963)	484,891)	440,211)
Non-controlling interests	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	5,176)	5,977)	71,198)	8,318)	—)	—)	—)
Total stockholders’ equity	2,176,366)	2,052,127)	2,027,532)	2,010,525)	1,310,039)	1,242,083)	1,177,793)	1,099,924)	1,085,757)	1,032,037)	924,801)	866,418)	811,670)	737,188)	680,048)	697,517)	570,726)	538,963)	484,891)	440,211)
Total liabilities and stockholders’ equity	4,265,949)	3,903,546)	3,772,778)	3,682,915)	2,892,060)	2,656,833)	2,564,325)	2,464,595)	2,437,109)	2,278,296)	1,605,826)	1,513,840)	1,494,624)	1,337,592)	1,221,694)	1,176,923)	964,472)	852,178)	783,230)	731,561)

Trade Payables and Accrued Expenses: Trade payables exhibited a steady upward trend from 83.1 million USD in March 2018 to 459.8 million USD by December 2022, indicating increased obligations over the period. Similarly, employees and payroll accruals increased from about 29.7 million USD to 85.2 million USD, reflecting growth in workforce-related liabilities. Warranty obligations also showed an increasing trend with total warranty obligations rising from 71.6 million USD in March 2018 to 281.1 million USD as of December 2022, which may reflect increased product sales or warranty claims.
Deferred Revenues and Customer Advances: Deferred revenues and customer advances fluctuated notably, with an initial increase peaking in late 2019 at around 70.8 million USD, followed by a decline and some volatility, ending at approximately 26.6 million USD by the final quarter of 2022. The broader category of deferred revenues increased steadily from 41.9 million USD in March 2018 to 187 million USD in December 2022, suggesting a growing volume of unrecognized revenue.
Current and Total Liabilities: Current liabilities increased markedly from 158.6 million USD in March 2018 to 889.7 million USD by December 2022, more than a fivefold increase, demonstrating significant expansion in short-term obligations. Total liabilities followed a similar trajectory, rising from 291.4 million USD to 2.09 billion USD, reflecting substantial growth in overall obligations including both current and long-term components.
Convertible Senior Notes: The data regarding convertible senior notes indicates the introduction of significant long-term debt starting in late 2020, with amounts around 570 million USD, gradually increasing to approximately 624.5 million USD by December 2022. This suggests that the company issued or maintained considerable convertible debt during this period, impacting long-term financial structure.
Long-term Liabilities and Leases: Long-term liabilities increased progressively from 132.7 million USD in early 2018 to nearly 1.2 billion USD by the end of 2022, highlighting expanding long-term financial commitments. Lease liabilities, both finance and operating, showed variability but remained significant, with operating lease liabilities around 46 million USD and finance lease liabilities roughly 45,000 USD near the end of 2022, reflecting ongoing lease arrangements.
Equity: Common stock par value remained stable over the period. Additional paid-in capital grew substantially from approximately 343 million USD in March 2018 to over 1.5 billion USD by December 2022, demonstrating significant capital infusion or issuance of equity. Retained earnings showed a consistent increase from 98 million USD to 744 million USD, suggesting profitability and accumulation of earnings. However, accumulated other comprehensive income (loss) reflected a considerable downward trend, moving from a slight loss of 1.1 million USD to a much larger negative balance of 73.1 million USD at the end of the period. Total stockholders’ equity approximately quadrupled, moving from 440 million USD to 2.18 billion USD, reflecting strong equity growth despite the comprehensive loss component.
Total Assets vs. Liabilities and Equity: Total liabilities and stockholders’ equity grew commensurately, from 731.6 million USD in March 2018 to 4.27 billion USD by December 2022, indicating overall balance sheet expansion in line with liability and equity growth.
Summary of Trends: The company experienced marked growth in liabilities, both short and long term, and equity throughout the period from 2018 to 2022, pointing to an expanding business scale and possibly increased financing activities. The large increases in trade payables, warranty obligations, and accrued expenses underscore growing operational activities and related financial obligations. The issuance of convertible senior notes contributed significantly to long-term debt. The sharp rise in additional paid-in capital and retained earnings indicates continued capital investment and profitability, although the negative trend in accumulated other comprehensive income suggests some losses in other comprehensive income components. Overall, the data portrays a company scaling its financial structure considerably over the five-year period.

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SolarEdge Technologies Inc. (NASDAQ:SEDG)

Balance Sheet: Liabilities and Stockholders’ Equity Quarterly Data

Balance Sheet: Liabilities and Stockholders’ Equity
Quarterly Data