EQUITY INVESTMENTS (Tables)
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12 Months Ended |
Dec. 31, 2023 |
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| Equity Method Investments and Joint Ventures [Abstract] |
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| Equity Method Investments |
The summarized financial information as of December 31, 2023 and January 1, 2023 and for the fiscal years ended 2023, 2022 and 2021 is as follows: | | | | | | | | | | | | | As of | | (In thousands) | December 31, 2023 | | January 1, 2023 | Current assets | $ | 924,110 | | | $ | 556,744 | | Non-current assets | 711,499 | | | 615,107 | | Current liabilities | 361,072 | | | 444,202 | | Non-current liabilities | 667,617 | | | 304,088 | | Non-controlling interest | 615,395 | | | 395,173 | |
| | | | | | | | | | | | | | | | | | | Fiscal Year Ended | | (In thousands) | December 31, 2023 | | January 1, 2023 | | January 2, 2022 | Revenue | $ | 1,637,862 | | | $ | 1,619,358 | | | $ | 1,018,731 | | Gross profit (loss) | $ | 1,433 | | | (40,099) | | | 25,204 | | Loss from operations | $ | (135,799) | | | (177,283) | | | (27,427) | | Net loss | $ | (136,433) | | | (159,888) | | | (126,338) | | Net loss attributable to Huansheng JV | $ | (33,708) | | | (62,820) | | | (95,939) | |
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| Schedule of Related Party Transactions with TZE and its Affiliates Excluding the JV |
The following related party balances and amounts are associated with transactions entered into with TotalEnergies and its affiliates: | | | | | | | | | | | | | As of | | (In thousands) | December 31, 2023 | | January 1, 2023 | | Accounts receivable | $ | 13,390 | | | $ | 10,732 | | | Other receivables, current | 794 | | | — | | Accounts payable | 232 | | | 8 | | Contract liabilities, current portion | 218 | | | 58,852 | | Contract liabilities, net of current portion | — | | | 4,319 | | Refund liabilities (Note 6) | 18,229 | | | 22,146 | |
| | | | | | | | | | | | | | | | | | | Fiscal Year Ended | | (In thousands) | December 31, 2023 | | January 1, 2023 | | January 2, 2022 | | Revenue | $ | 99,694 | | | $ | 76,216 | | | $ | 14,733 | |
The following related party balances and amounts summarizes transactions entered into with TZE and its affiliates, excluding transactions with HSPV: | | | | | | | | | | | | | As of | | (In thousands) | December 31, 2023 | | January 1, 2023 | Prepayment for purchases | $ | — | | | $ | 15,009 | | Convertible notes (Note 11) | 207,000 | | | 207,000 | |
| | | | | | | | | | | | | | | | | | | Fiscal Year Ended | | (In thousands) | December 31, 2023 | | January 1, 2023 | | January 2, 2022 | | Payments for purchases of silicon wafer | $ | 121,770 | | | $ | 87,228 | | | $ | 10,392 | | Contractual interest expense on 2027 Notes | 15,525 | | | 5,822 | | | — | |
Related-party transactions with Huansheng JV are as follows: | | | | | | | | | | | | | As of | | (In thousands) | December 31, 2023 | | January 1, 2023 | | Accounts payable | $ | 9,920 | | | $ | 38,452 | |
| | | | | | | | | | | | | | | | | | | Fiscal Year Ended | | (In thousands) | December 31, 2023 | | January 1, 2023 | | January 2, 2022 | | Payments made to investee for products/services | $ | 226,118 | | | $ | 331,004 | | | $ | 249,670 | |
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| Debt Securities, Trading, and Equity Securities, FV-NI |
| | | | | | | | | | | | | As of | | (In thousands) | December 31, 2023 | | January 1, 2023 | Equity method investment | $ | — | | | $ | 3,061 | | | Equity investments without readily determinable fair value | 4,000 | | | 4,000 | | | Total equity investments | $ | 4,000 | | | $ | 7,061 | |
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