SUNPOWER CORP

Delisted

CIK 0000867773Large AcceleratedSemiconductors & Related DevicesDelawareFY ends Dec 31

Period

FY 2022

Revenue

$1.74B

Net Income

$56.04M

Total Assets

$1.78B

Equity

$574.85M

Shares Out

175.36M

Op. Cash Flow

$-180.90M

Business

SUNPOWER CORP is a former operating company in Semiconductors & Related Devices, incorporated in Delaware. Securities are no longer actively traded on a major U.S. exchange.

Auto-generated from company profile

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2022 2022-12-31	FY 2021 2021-12-31	FY 2020 2020-12-31	FY 2019 2019-12-31	FY 2018 2018-12-31
Total revenues	1,741	1,132	870	1,092	1,202
Total cost of revenues	1,377	903	733	929	1,054
Gross profit	364	229	137	163	148
Research and development	25	16	19	34	49
Sales, general, and administrative	339	204	139	172	200
Restructuring charges (credits)	244,000	5	3	15	10
(Gain) loss on sale and impairment of residential lease assets	0	−294,000	45,000	25	252
(Gain) loss on business divestitures, net	0	−5	−10	−143	−59
Expense (income) from transition services agreement, net	69,000	−4	−6	0	0
Total operating expenses	364	215	144	103	452
Operating (loss) income	−492,000	15	−8	61	−303
Interest income	3	168,000	753,000	2	2
Interest expense	−22	−24	−29	−49	−108
Other, net	115	22	692	177	43
Other income (expense), net	97	−2	664	130	−63
Income (loss) from continuing operations before income taxes and equity in earnings (losses) of unconsolidated investees	97	13	657	191	—
Benefits from (provision for) income taxes	8	−7	−58	−17	−2
Equity in earnings (losses) of unconsolidated investees	2	0	0	−2	−15
Net income (loss) from continuing operations	107	6	599	173	−383
(Loss) income from discontinued operations before income taxes and equity in (losses) earnings of unconsolidated investees	−47	−46	−128	—	—
Benefits from (provision for) income taxes	600,000	2	3	−10	1
Equity in (losses) earnings of unconsolidated investees	0	0	−586,000	−5	−3
Net (loss) income from discontinued operations	−47	−44	−125	−181	−534
Net income (loss)	60	−38	474	−8	−917
Net (income) loss from continuing operations attributable to noncontrolling interests	−5	145,000	1	34	106
Net loss (income) from discontinued operations attributable to noncontrolling interests	250,000	539,000	−165,000	−4	266,000
Net (income) loss attributable to noncontrolling interests	−4	684,000	1	30	106
Net income (loss) from continuing operations attributable to stockholders	102	6	600	207	−277
Net (loss) income from discontinued operations attributable to stockholders	−46	−43	−125	−185	−534
Net income (loss) attributable to stockholders	56	−37	475	22	−811
Continuing operations (usd per share)	0.59	0.03	3.54	1.43	−1.97
Discontinued operations (usd per share)	−0.27	−0.25	−0.74	−1.28	−3.79
Net income (loss) per share - basic (usd per share)	0.32	−0.22	2.8	0.15	−5.76
Continuing operations (usd per share)	0.59	0.03	3.12	1.31	−1.97
Discontinued operations (usd per share)	−0.27	−0.25	−0.64	−1.09	−3.79
Net income (loss) per share - diluted (usd per share)	0.32	−0.22	2.48	0.22	−5.76
Basic (shares)	174	172	170	145	141
Diluted (shares)	175	175	197	170	141

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2022 2022-12-31	FY 2021 2021-12-31	FY 2020 2020-12-31	FY 2019 2019-12-31	FY 2018 2018-12-31
Cash and cash equivalents	377	124	233	423	309
Restricted cash and cash equivalents, current portion	10	691,000	6	26	42
Short-term investments	132	366	0	—	—
Accounts receivable, net	175	121	109	128	176
Contract assets	51	26	115	99	59
Inventories	317	214	211	163	308
Advances to suppliers, current portion	9	462,000	3	32	38
Prepaid expenses and other current assets	198	100	94	87	131
Current assets of discontinued operations	0	121	0	531	—
Total current assets	1,269	1,073	790	1,381	1,074
Restricted cash and cash equivalents, net of current portion	15	15	9	9	13
Property, plant and equipment, net	75	34	47	56	840
Operating lease right-of-use assets	37	32	54	41	0
Solar power systems leased, net	42	46	50	—	—
Goodwill	126	126	0	—	—
Other intangible assets, net	24	25	697,000	—	—
Other long-term assets	193	157	696	278	162
Long-term assets of discontinued operations	0	48	0	346	—
Total assets	1,780	1,555	1,646	2,172	2,353
Accounts payable	242	139	166	207	326
Accrued liabilities	145	102	122	116	235
Operating lease liabilities, current portion	11	11	10	8	0
Contract liabilities, current portion	144	62	72	91	104
Short-term debt	82	110	97	44	40
Convertible debt, current portion	425	0	63	0	0
Current liabilities of discontinued operations	0	86	0	432	—
Total current liabilities	1,050	510	530	898	705
Long-term debt	308,000	380,000	56	112	—
Convertible debt, net of current portion	0	424	422	820	818
Operating lease liabilities, net of current portion	29	29	44	37	0
Contract liabilities, net of current portion	12	19	30	32	100
Other long-term liabilities	113	141	158	158	839
Long-term liabilities of discontinued operations	0	43	0	93	—
Total liabilities	1,204	1,165	1,240	2,150	2,503
Commitments and contingencies (Note 9)	—	—	—	—	—
Preferred stock, $0.001 par value; 10,000 shares authorized; none issued and outstanding as of January 1, 2023 and January 2, 2022	0	0	0	0	0
Common stock, $0.001 par value; 367,500 shares authorized; 188,287 shares issued and 174,269 shares outstanding as of January 1, 2023; 186,452 shares issued and 173,052 shares outstanding as of January 2, 2022	174,000	173,000	170,000	168,000	141,000
Additional paid-in capital	2,856	2,715	2,686	2,662	2,463
Accumulated deficit	−2,066	−2,122	−2,085	−2,450	−2,481
Accumulated other comprehensive income (loss)	12	11	9	−10	−4
Treasury stock, at cost: 14,018 shares of common stock as of January 1, 2023; 13,401 shares of common stock as of January 2, 2022	−227	−215	−205	−193	−187
Total stockholders' equity	575	388	404	10	−209
Noncontrolling interests in subsidiaries	803,000	2	2	11	59
Total equity	576	390	406	21	−150
Total liabilities and equity	1,780	1,555	1,646	2,172	2,353

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2022 2022-12-31	FY 2021 2021-12-31	FY 2020 2020-12-31	FY 2019 2019-12-31	FY 2018 2018-12-31
Depreciation and amortization	35	12	48	80	127
Stock-based compensation	26	26	25	27	26
Non-cash interest expense	4	5	7	9	15
Equity in (earnings) losses of unconsolidated investees	−2	0	586,000	7	—
(Gain) loss on equity investments	−115	−22	−692	−158	6
(Gain) loss on retirement of convertible debt	0	0	−2	0	0
(Gain) loss on sale of investments	0	−1	0	0	—
(Gain) loss on business divestitures, net1	0	−224,000	−10	−143	—
Unrealized (gain) loss on derivatives	−2	0	0	—	—
Dividend from equity method investees	120,000	0	0	0	4
Deferred income taxes	−14	6	19	5	−7
(Gain) loss on sale and impairment of residential lease assets	0	−226,000	1	34	252
Other, net	1	−6	534,000	1	—
Accounts receivable	−64	−19	99	−67	−175,000
Contract assets	−10	35	−12	−38	—
Inventories	−111	−5	−30	−128	−39
Project assets	295,000	4	−8	−2	40
Prepaid expenses and other assets	−202	−33	−6	−9	23
Operating lease right-of-use assets	11	11	11	9	0
Advances to suppliers	−9	−462,000	13	50	44
Accounts payable and other accrued liabilities	123	−16	−78	79	−127
Contract liabilities	101	10	−36	28	−30
Operating lease liabilities	−14	−13	−10	−9	0
Net cash (used in) provided by operating activities	−181	−44	−187	−270	−543
Purchases of property, plant, and equipment	−49	−10	−15	−47	−45
Investments in software development costs	−6	−4	0	0	0
Proceeds from sale of property, plant, and equipment	0	900,000	0	60	0
Cash paid for solar power systems	0	−635,000	−7	−53	−42
Purchases of marketable securities	0	0	−1	0	0
Proceeds from maturities of marketable securities	0	0	7	0	0
Cash outflow upon Maxeon Solar Spin-Off, net of proceeds	0	0	−131	0	0
Cash received from sale of investments	0	1	0	0	—
Proceeds from business divestitures, net of de-consolidated cash	146	11	15	40	23
Cash paid for acquisitions, net of cash acquired	0	−124	0	0	−17
Cash paid for equity investments under the Dealer Accelerator Program and other	−31	0	0	—	—
Proceeds from sale of equity investment	440	178	253	43	454
Proceeds from return of capital from equity investments	0	2	8	0	0
Cash paid for investments in unconsolidated investees	−8	0	0	−12	−15
Dividend from equity method investee	150,000	0	0	0	13
Net cash provided by (used in) investing activities	493	54	129	21	275
Proceeds from bank loans and other debt	146	152	216	382	228
Repayment of bank loans and other debt	−182	−181	−228	−271	−535
Proceeds from issuance of non-recourse residential and commercial financing, net of issuance costs	0	0	15	72	192
Repayment of non-recourse residential and commercial financing	0	−10	−9	−3	−17
Contributions from noncontrolling interests attributable to residential projects	0	0	22,000	36	151
Distributions to noncontrolling interests attributable to residential projects	−9	0	−1	−316,000	−22
Repayment of convertible debt	0	−63	−335	0	—
Proceeds from issuance of Maxeon Solar green convertible debt	0	0	200	0	0
Payments for financing leases	−1	0	0	—	—
Receipt of contingent asset of a prior business combination	0	0	2	0	—
Settlement of contingent consideration arrangement of a prior business combination	0	0	−776,000	−2	0
Issuance of common stock to executive	0	3	0	0	—
Equity offering costs paid	0	0	−928,000	0	0
Purchases of stock for tax withholding obligations on vested restricted stock	−11	−10	−13	−6	−6
Net cash (used in) provided by financing activities	−58	−108	−154	344	86
Effect of exchange rate changes on cash, cash equivalents, and restricted cash	0	0	200,000	−373,000	2
Costs of solar power systems funded by liabilities	0	0	635,000	3	4
Property, plant and equipment acquisitions funded by liabilities (including financing leases)	12	1	866,000	14	8
Right-of-use assets obtained in exchange for lease obligations	15	20	23	111	0
Working capital adjustment related to C&I Solutions sale	7	0	0	—	—
De-consolidation of right-of-use assets and lease obligations	0	3	0	0	—
Debt repaid in sale of commercial projects	0	6	0	0	—
Fair value of contingent consideration for business combination	0	11	0	0	—
Assumption of liabilities in connection with business divestitures	0	0	9	0	0
Holdbacks in connection with business divestitures	0	0	7	0	0
Costs of solar power systems sourced from existing inventory	0	0	1	29	0
Cash paid for interest	21	25	32	33	99
Cash paid for income taxes	7	23	19	9	8

Filings

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Frequently asked questions

What is SUNPOWER CORP's CIK number?

SUNPOWER CORP's SEC CIK number is 0000867773 (867773). The CIK (Central Index Key) is the permanent identifier the SEC assigns to every EDGAR filer — unlike a ticker symbol, it never changes.

Where can I find SUNPOWER CORP's SEC filings?

All of SUNPOWER CORP's EDGAR filings — 10-K annual reports, 10-Q quarterly reports, 8-K material events, and insider transactions — are listed on this page, sourced live from SEC EDGAR.

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