Sunpower Corp (SPWR) SEC Filing 10-Q Quarterly report for the period ending Sunday, June 30, 2019

Net cash used in operating activities in the six months ended July 1, 2018 was $355.3 million and was primarily the result of: (i) a net loss of $631.4 million; (ii) $109.2 million increase in long-term financing receivables related to our net investment in sales-type leases; (iii) $79.4 million decrease in accounts payable and other accrued liabilities, primarily attributable to the procurement of polysilicon and vendor payments; (iv) $75.8 million increase in inventories to support the construction of our solar energy projects; (v) $50.0 million gain on the sale of equity method investment; (vi) $35.9 million decrease in contract liabilities driven by construction activities; (vii) $35.4 million increase in contract assets driven by construction activities; (viii) $4.0 million increase in accounts receivable; and (ix) $2.4 million gain from various non-cash adjustments.

Sales, General and Administrative ("SG&A") SG&A expense decreased by $2.9 million and $5.4 million during the three and six months ended June 30, 2019 as compared to the three and six months ended July 1, 2018, respectively, primarily due to reductions in headcount and salary expenses driven by our February 2018 restructuring plan and ongoing cost reduction efforts.