tsla-10q_20200331.htm
false 2020 Q1 0001318605 --12-31 Large Accelerated Filer 2025-08-31 2025-08-31 2021-03-31 2022-03-31 2024-05-31 2020-12-31 2025-08-31 2025-08-31 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.018 0.036 0.020 0.040 0.037 0.053 0.048 0.030 0.042 0.043 0.033 0.058 0.079 0.077 0.040 0.058 0.075 0.033 0.059 0.073 2020-06 2020-04 2020-05 2024-09 2020-09 2033-07 2048-09 2020-06 2023-07 2031-01 2023-05 2048-02 2024-12 2035-01 2049-09 2022-06 0.027 0.036 0.020 0.040 0.037 0.053 0.048 0.031 0.042 0.045 0.048 0.058 0.079 0.077 0.040 0.058 0.075 0.036 0.059 0.074 2020-06 2020-03 2020-02 2024-09 2020-09 2033-07 2048-09 2020-03 2023-07 2031-01 2023-05 2048-02 2024-12 2035-01 2049-09 2022-06 0001318605 2020-01-01 2020-03-31 xbrli:shares 0001318605 2020-04-23 iso4217:USD 0001318605 2020-03-31 0001318605 2019-12-31 0001318605 tsla:OperatingLeaseVehiclesMember 2020-03-31 0001318605 tsla:OperatingLeaseVehiclesMember 2019-12-31 0001318605 tsla:SolarEnergySystemsMember 2020-03-31 0001318605 tsla:SolarEnergySystemsMember 2019-12-31 iso4217:USD xbrli:shares 0001318605 tsla:AutomotiveSegmentMember 2020-01-01 2020-03-31 0001318605 tsla:AutomotiveSegmentMember 2019-01-01 2019-03-31 0001318605 2019-01-01 2019-03-31 0001318605 tsla:EnergyGenerationAndStorageSegmentMember 2020-01-01 2020-03-31 0001318605 tsla:EnergyGenerationAndStorageSegmentMember 2019-01-01 2019-03-31 0001318605 tsla:RedeemableNoncontrollingInterestsMember 2018-12-31 0001318605 us-gaap:CommonStockMember 2018-12-31 0001318605 us-gaap:AdditionalPaidInCapitalMember 2018-12-31 0001318605 us-gaap:RetainedEarningsMember 2018-12-31 0001318605 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2018-12-31 0001318605 us-gaap:ParentMember 2018-12-31 0001318605 us-gaap:NoncontrollingInterestMember 2018-12-31 0001318605 2018-12-31 0001318605 us-gaap:RetainedEarningsMember us-gaap:AccountingStandardsUpdate201602Member 2019-01-01 2019-03-31 0001318605 us-gaap:ParentMember us-gaap:AccountingStandardsUpdate201602Member 2019-01-01 2019-03-31 0001318605 us-gaap:AccountingStandardsUpdate201602Member 2019-01-01 2019-03-31 0001318605 us-gaap:CommonStockMember 2019-01-01 2019-03-31 0001318605 us-gaap:AdditionalPaidInCapitalMember 2019-01-01 2019-03-31 0001318605 us-gaap:ParentMember 2019-01-01 2019-03-31 0001318605 tsla:RedeemableNoncontrollingInterestsMember 2019-01-01 2019-03-31 0001318605 us-gaap:NoncontrollingInterestMember 2019-01-01 2019-03-31 0001318605 us-gaap:RetainedEarningsMember 2019-01-01 2019-03-31 0001318605 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2019-01-01 2019-03-31 0001318605 tsla:RedeemableNoncontrollingInterestsMember 2019-03-31 0001318605 us-gaap:CommonStockMember 2019-03-31 0001318605 us-gaap:AdditionalPaidInCapitalMember 2019-03-31 0001318605 us-gaap:RetainedEarningsMember 2019-03-31 0001318605 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2019-03-31 0001318605 us-gaap:ParentMember 2019-03-31 0001318605 us-gaap:NoncontrollingInterestMember 2019-03-31 0001318605 2019-03-31 0001318605 tsla:RedeemableNoncontrollingInterestsMember 2019-12-31 0001318605 us-gaap:CommonStockMember 2019-12-31 0001318605 us-gaap:AdditionalPaidInCapitalMember 2019-12-31 0001318605 us-gaap:RetainedEarningsMember 2019-12-31 0001318605 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2019-12-31 0001318605 us-gaap:ParentMember 2019-12-31 0001318605 us-gaap:NoncontrollingInterestMember 2019-12-31 0001318605 us-gaap:RetainedEarningsMember us-gaap:AccountingStandardsUpdate201613Member 2020-01-01 2020-03-31 0001318605 us-gaap:ParentMember us-gaap:AccountingStandardsUpdate201613Member 2020-01-01 2020-03-31 0001318605 us-gaap:AccountingStandardsUpdate201613Member 2020-01-01 2020-03-31 0001318605 us-gaap:AdditionalPaidInCapitalMember 2020-01-01 2020-03-31 0001318605 us-gaap:ParentMember 2020-01-01 2020-03-31 0001318605 us-gaap:CommonStockMember 2020-01-01 2020-03-31 0001318605 us-gaap:CommonStockMember us-gaap:IPOMember 2020-01-01 2020-03-31 0001318605 us-gaap:AdditionalPaidInCapitalMember us-gaap:IPOMember 2020-01-01 2020-03-31 0001318605 us-gaap:ParentMember us-gaap:IPOMember 2020-01-01 2020-03-31 0001318605 us-gaap:IPOMember 2020-01-01 2020-03-31 0001318605 tsla:RedeemableNoncontrollingInterestsMember 2020-01-01 2020-03-31 0001318605 us-gaap:NoncontrollingInterestMember 2020-01-01 2020-03-31 0001318605 us-gaap:RetainedEarningsMember 2020-01-01 2020-03-31 0001318605 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2020-01-01 2020-03-31 0001318605 tsla:RedeemableNoncontrollingInterestsMember 2020-03-31 0001318605 us-gaap:CommonStockMember 2020-03-31 0001318605 us-gaap:AdditionalPaidInCapitalMember 2020-03-31 0001318605 us-gaap:RetainedEarningsMember 2020-03-31 0001318605 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2020-03-31 0001318605 us-gaap:ParentMember 2020-03-31 0001318605 us-gaap:NoncontrollingInterestMember 2020-03-31 xbrli:pure 0001318605 tsla:OnePointTwoFivePercentSeniorConvertibleNoteDueTwentyTwentyOneMember tsla:RecourseDebtMember 2020-03-31 0001318605 tsla:SolarEnergySystemsMember 2020-01-01 2020-03-31 tsla:Segment 0001318605 tsla:AutomotiveSalesWithoutResaleValueGuaranteeMember tsla:AutomotiveMember 2020-01-01 2020-03-31 0001318605 tsla:AutomotiveSalesWithoutResaleValueGuaranteeMember tsla:AutomotiveMember 2019-01-01 2019-03-31 0001318605 tsla:AutomotiveSalesWithResaleValueGuaranteeMember tsla:AutomotiveMember 2020-01-01 2020-03-31 0001318605 tsla:AutomotiveSalesWithResaleValueGuaranteeMember tsla:AutomotiveMember 2019-01-01 2019-03-31 0001318605 tsla:AutomotiveRegulatoryCreditsMember tsla:AutomotiveMember 2020-01-01 2020-03-31 0001318605 tsla:AutomotiveRegulatoryCreditsMember tsla:AutomotiveMember 2019-01-01 2019-03-31 0001318605 tsla:EnergyGenerationAndStorageSalesMember tsla:EnergyGenerationAndStorageSegmentMember 2020-01-01 2020-03-31 0001318605 tsla:EnergyGenerationAndStorageSalesMember tsla:EnergyGenerationAndStorageSegmentMember 2019-01-01 2019-03-31 0001318605 tsla:ServicesAndOtherMember 2020-01-01 2020-03-31 0001318605 tsla:ServicesAndOtherMember 2019-01-01 2019-03-31 0001318605 tsla:SalesAndServicesMember 2020-01-01 2020-03-31 0001318605 tsla:SalesAndServicesMember 2019-01-01 2019-03-31 0001318605 tsla:AutomotiveLeasingMember tsla:AutomotiveMember 2020-01-01 2020-03-31 0001318605 tsla:AutomotiveLeasingMember tsla:AutomotiveMember 2019-01-01 2019-03-31 0001318605 tsla:EnergyGenerationAndStorageLeasingMember tsla:EnergyGenerationAndStorageSegmentMember 2020-01-01 2020-03-31 0001318605 tsla:EnergyGenerationAndStorageLeasingMember tsla:EnergyGenerationAndStorageSegmentMember 2019-01-01 2019-03-31 0001318605 tsla:AutomotiveSalesWithResaleValueGuaranteePriceAdjustmentsMember tsla:AutomotiveMember 2020-01-01 2020-03-31 0001318605 2019-10-01 2019-12-31 0001318605 tsla:AutomotiveRegulatoryCreditsMember 2020-01-01 2020-03-31 0001318605 tsla:AutomotiveRegulatoryCreditsMember 2019-01-01 2019-12-31 0001318605 tsla:SalesToLeasingCompaniesWithGuaranteeMember 2020-03-31 0001318605 tsla:SalesToLeasingCompaniesWithGuaranteeMember 2019-12-31 0001318605 tsla:SalesToLeasingCompaniesWithGuaranteeMember 2020-01-01 2020-03-31 0001318605 tsla:SalesToLeasingCompaniesWithGuaranteeMember 2019-10-01 2019-12-31 0001318605 tsla:AccruedLiabilitiesAndOtherMember 2020-03-31 0001318605 tsla:AccruedLiabilitiesAndOtherMember 2019-12-31 0001318605 2019-01-01 2019-12-31 0001318605 us-gaap:VehiclesMember 2020-03-31 0001318605 us-gaap:VehiclesMember 2019-12-31 0001318605 tsla:CustomerAdvancePaymentsMember tsla:EnergyGenerationAndStorageSegmentMember 2020-03-31 0001318605 tsla:CustomerAdvancePaymentsMember tsla:EnergyGenerationAndStorageSegmentMember 2019-12-31 0001318605 tsla:CustomerAdvancePaymentsMember tsla:EnergyGenerationAndStorageSegmentMember 2020-01-01 2020-03-31 0001318605 tsla:CustomerAdvancePaymentsMember tsla:EnergyGenerationAndStorageSegmentMember 2019-01-01 2019-12-31 0001318605 tsla:CustomerAdvancePaymentsMember tsla:EnergyGenerationAndStorageSegmentMember 2020-04-01 2020-03-31 0001318605 tsla:ZeroPointTwoFivePercentSeniorConvertibleNoteDueTwentyNineteenMember tsla:RecourseDebtMember 2020-03-31 0001318605 tsla:TwoPointThreeSevenFivePercentSeniorConvertibleNoteDueTwentyTwentyTwoMember tsla:RecourseDebtMember 2020-03-31 0001318605 tsla:TwoPointZeroZeroPercentSeniorConvertibleNoteDueTwentyTwentyFourMember tsla:RecourseDebtMember 2020-03-31 0001318605 tsla:FivePointFiveZeroPercentSeniorConvertibleNoteDueTwentyTwentyTwoMember tsla:RecourseDebtMember 2020-03-31 0001318605 tsla:ZeroPointTwoFivePercentSeniorConvertibleNoteDueTwentyNineteenMember tsla:RecourseDebtMember 2020-01-01 2020-03-31 0001318605 tsla:OnePointTwoFivePercentSeniorConvertibleNoteDueTwentyTwentyOneMember tsla:RecourseDebtMember 2020-01-01 2020-03-31 0001318605 tsla:TwoPointThreeSevenFivePercentSeniorConvertibleNoteDueTwentyTwentyTwoMember tsla:RecourseDebtMember 2020-01-01 2020-03-31 0001318605 tsla:TwoPointZeroZeroPercentSeniorConvertibleNoteDueTwentyTwentyFourMember tsla:RecourseDebtMember 2020-01-01 2020-03-31 0001318605 tsla:FivePointFiveZeroPercentSeniorConvertibleNoteDueTwentyTwentyTwoMember tsla:RecourseDebtMember 2020-01-01 2020-03-31 0001318605 tsla:StockBasedAwardsMember 2020-01-01 2020-03-31 0001318605 tsla:StockBasedAwardsMember 2019-01-01 2019-03-31 0001318605 tsla:ConvertibleSeniorNotesMember 2020-01-01 2020-03-31 0001318605 tsla:ConvertibleSeniorNotesMember 2019-01-01 2019-03-31 0001318605 us-gaap:AccountingStandardsUpdate201613Member 2020-01-01 2020-01-01 tsla:Customer 0001318605 us-gaap:DevelopedTechnologyRightsMember 2020-03-31 0001318605 us-gaap:TradeNamesMember 2020-03-31 0001318605 tsla:FavorableContractsAndLeasesMember 2020-03-31 0001318605 us-gaap:OtherIntangibleAssetsMember 2020-03-31 0001318605 us-gaap:DevelopedTechnologyRightsMember 2019-12-31 0001318605 us-gaap:TradeNamesMember 2019-12-31 0001318605 tsla:FavorableContractsAndLeasesMember 2019-12-31 0001318605 us-gaap:OtherIntangibleAssetsMember 2019-12-31 0001318605 tsla:GigafactoryNevadaWaterRightsMember 2020-03-31 0001318605 tsla:GigafactoryNevadaWaterRightsMember 2019-12-31 0001318605 us-gaap:MoneyMarketFundsMember 2020-03-31 0001318605 us-gaap:FairValueInputsLevel1Member us-gaap:MoneyMarketFundsMember 2020-03-31 0001318605 us-gaap:InterestRateSwapMember 2020-03-31 0001318605 us-gaap:FairValueInputsLevel2Member us-gaap:InterestRateSwapMember 2020-03-31 0001318605 us-gaap:FairValueInputsLevel1Member 2020-03-31 0001318605 us-gaap:FairValueInputsLevel2Member 2020-03-31 0001318605 us-gaap:MoneyMarketFundsMember 2019-12-31 0001318605 us-gaap:FairValueInputsLevel1Member us-gaap:MoneyMarketFundsMember 2019-12-31 0001318605 us-gaap:InterestRateSwapMember 2019-12-31 0001318605 us-gaap:FairValueInputsLevel2Member us-gaap:InterestRateSwapMember 2019-12-31 0001318605 us-gaap:FairValueInputsLevel1Member 2019-12-31 0001318605 us-gaap:FairValueInputsLevel2Member 2019-12-31 0001318605 us-gaap:InterestRateSwapMember 2020-01-01 2020-03-31 0001318605 us-gaap:InterestRateSwapMember 2019-01-01 2019-03-31 0001318605 tsla:RecourseDebtMember tsla:ZeroCouponConvertibleSeniorNotesDueInTwoThousandTwentyMember 2020-03-31 0001318605 tsla:RecourseDebtMember tsla:FivePointThreeZeroPercentSeniorNotesDueTwentyTwentyFiveMember 2020-03-31 0001318605 tsla:RecourseDebtMember tsla:FivePointThreeZeroPercentSeniorNotesDueTwentyTwentyFiveMember 2019-12-31 0001318605 tsla:RecourseDebtMember tsla:FivePointThreeZeroPercentSeniorNotesDueTwentyTwentyFiveMember 2020-01-01 2020-03-31 0001318605 tsla:RecourseDebtMember tsla:FivePointThreeZeroPercentSeniorNotesDueTwentyTwentyFiveMember 2019-01-01 2019-12-31 0001318605 tsla:RecourseDebtMember tsla:ZeroCouponConvertibleSeniorNotesDueInTwoThousandTwentyMember 2020-01-01 2020-03-31 0001318605 tsla:ConvertibleSeniorNotesMember 2020-03-31 0001318605 tsla:FivePointThreeZeroPercentSeniorNotesDueTwentyTwentyFiveMember 2020-03-31 0001318605 tsla:SolarAssetBackedNotesMember 2020-03-31 0001318605 tsla:SolarLoanBackedNotesMember 2020-03-31 0001318605 tsla:ConvertibleSeniorNotesMember 2019-12-31 0001318605 tsla:FivePointThreeZeroPercentSeniorNotesDueTwentyTwentyFiveMember 2019-12-31 0001318605 tsla:SolarAssetBackedNotesMember 2019-12-31 0001318605 tsla:SolarLoanBackedNotesMember 2019-12-31 0001318605 us-gaap:CostOfSalesMember 2020-01-01 2020-03-31 0001318605 us-gaap:CostOfSalesMember 2019-01-01 2019-03-31 0001318605 tsla:MachineryEquipmentVehiclesAndOfficeFurnitureMember 2020-03-31 0001318605 tsla:MachineryEquipmentVehiclesAndOfficeFurnitureMember 2019-12-31 0001318605 us-gaap:ToolsDiesAndMoldsMember 2020-03-31 0001318605 us-gaap:ToolsDiesAndMoldsMember 2019-12-31 0001318605 us-gaap:LeaseholdImprovementsMember 2020-03-31 0001318605 us-gaap:LeaseholdImprovementsMember 2019-12-31 0001318605 us-gaap:LandAndBuildingMember 2020-03-31 0001318605 us-gaap:LandAndBuildingMember 2019-12-31 0001318605 tsla:ComputerEquipmentAndSoftwareMember 2020-03-31 0001318605 tsla:ComputerEquipmentAndSoftwareMember 2019-12-31 0001318605 us-gaap:ConstructionInProgressMember 2020-03-31 0001318605 us-gaap:ConstructionInProgressMember 2019-12-31 0001318605 us-gaap:EquipmentMember 2020-03-31 0001318605 us-gaap:EquipmentMember 2019-12-31 0001318605 tsla:RecourseDebtMember tsla:CreditAgreementMember 2020-03-31 0001318605 tsla:RecourseDebtMember tsla:SolarBondsAndOtherLoansMember 2020-03-31 0001318605 tsla:RecourseDebtMember 2020-03-31 0001318605 tsla:NonrecourseDebtMember tsla:AutomotiveAssetBackedNotesMember 2020-03-31 0001318605 tsla:NonrecourseDebtMember tsla:SolarAssetBackedNotesMember 2020-03-31 0001318605 tsla:NonrecourseDebtMember tsla:ChinaLoanAgreementsMember 2020-03-31 0001318605 tsla:NonrecourseDebtMember tsla:CashEquityDebtMember 2020-03-31 0001318605 tsla:NonrecourseDebtMember tsla:SolarLoanBackedNotesMember 2020-03-31 0001318605 tsla:NonrecourseDebtMember tsla:WarehouseAgreementMember 2020-03-31 0001318605 tsla:NonrecourseDebtMember tsla:SolarTermLoansMember 2020-03-31 0001318605 tsla:NonrecourseDebtMember tsla:CanadaCreditFacilityMember 2020-03-31 0001318605 tsla:NonrecourseDebtMember tsla:SolarRenewableEnergyCreditAndOtherLoansMember 2020-03-31 0001318605 tsla:NonrecourseDebtMember 2020-03-31 0001318605 srt:MinimumMember tsla:RecourseDebtMember tsla:CreditAgreementMember 2020-03-31 0001318605 srt:MinimumMember tsla:RecourseDebtMember tsla:SolarBondsAndOtherLoansMember 2020-03-31 0001318605 srt:MinimumMember tsla:NonrecourseDebtMember tsla:AutomotiveAssetBackedNotesMember 2020-03-31 0001318605 srt:MinimumMember tsla:NonrecourseDebtMember tsla:SolarAssetBackedNotesMember 2020-03-31 0001318605 srt:MinimumMember tsla:NonrecourseDebtMember tsla:ChinaLoanAgreementsMember 2020-03-31 0001318605 srt:MinimumMember tsla:NonrecourseDebtMember tsla:CashEquityDebtMember 2020-03-31 0001318605 srt:MinimumMember tsla:NonrecourseDebtMember tsla:SolarLoanBackedNotesMember 2020-03-31 0001318605 srt:MinimumMember tsla:NonrecourseDebtMember tsla:WarehouseAgreementMember 2020-03-31 0001318605 srt:MinimumMember tsla:NonrecourseDebtMember tsla:CanadaCreditFacilityMember 2020-03-31 0001318605 srt:MinimumMember tsla:NonrecourseDebtMember tsla:SolarRenewableEnergyCreditAndOtherLoansMember 2020-03-31 0001318605 srt:MaximumMember tsla:RecourseDebtMember tsla:CreditAgreementMember 2020-03-31 0001318605 srt:MaximumMember tsla:RecourseDebtMember tsla:SolarBondsAndOtherLoansMember 2020-03-31 0001318605 srt:MaximumMember tsla:NonrecourseDebtMember tsla:AutomotiveAssetBackedNotesMember 2020-03-31 0001318605 srt:MaximumMember tsla:NonrecourseDebtMember tsla:SolarAssetBackedNotesMember 2020-03-31 0001318605 srt:MaximumMember tsla:NonrecourseDebtMember tsla:ChinaLoanAgreementsMember 2020-03-31 0001318605 srt:MaximumMember tsla:NonrecourseDebtMember tsla:CashEquityDebtMember 2020-03-31 0001318605 srt:MaximumMember tsla:NonrecourseDebtMember tsla:SolarLoanBackedNotesMember 2020-03-31 0001318605 srt:MaximumMember tsla:NonrecourseDebtMember tsla:WarehouseAgreementMember 2020-03-31 0001318605 srt:MaximumMember tsla:NonrecourseDebtMember tsla:CanadaCreditFacilityMember 2020-03-31 0001318605 srt:MaximumMember tsla:NonrecourseDebtMember tsla:SolarRenewableEnergyCreditAndOtherLoansMember 2020-03-31 0001318605 tsla:NonrecourseDebtMember tsla:WarehouseAgreementMember 2020-01-01 2020-03-31 0001318605 tsla:NonrecourseDebtMember tsla:SolarTermLoansMember 2020-01-01 2020-03-31 0001318605 tsla:NonrecourseDebtMember tsla:CanadaCreditFacilityMember 2020-01-01 2020-03-31 0001318605 tsla:RecourseDebtMember tsla:CreditAgreementMember 2020-01-01 2020-03-31 0001318605 tsla:RecourseDebtMember tsla:SolarBondsAndOtherLoansMember 2020-01-01 2020-03-31 0001318605 tsla:NonrecourseDebtMember tsla:AutomotiveAssetBackedNotesMember 2020-01-01 2020-03-31 0001318605 tsla:NonrecourseDebtMember tsla:SolarAssetBackedNotesMember 2020-01-01 2020-03-31 0001318605 tsla:NonrecourseDebtMember tsla:ChinaLoanAgreementsMember 2020-01-01 2020-03-31 0001318605 tsla:NonrecourseDebtMember tsla:CashEquityDebtMember 2020-01-01 2020-03-31 0001318605 tsla:NonrecourseDebtMember tsla:SolarLoanBackedNotesMember 2020-01-01 2020-03-31 0001318605 tsla:NonrecourseDebtMember tsla:SolarRenewableEnergyCreditAndOtherLoansMember 2020-01-01 2020-03-31 0001318605 tsla:RecourseDebtMember tsla:CreditAgreementMember 2019-12-31 0001318605 tsla:RecourseDebtMember tsla:ZeroCouponConvertibleSeniorNotesDueInTwoThousandTwentyMember 2019-12-31 0001318605 tsla:RecourseDebtMember tsla:SolarBondsAndOtherLoansMember 2019-12-31 0001318605 tsla:RecourseDebtMember 2019-12-31 0001318605 tsla:NonrecourseDebtMember tsla:AutomotiveAssetBackedNotesMember 2019-12-31 0001318605 tsla:NonrecourseDebtMember tsla:SolarAssetBackedNotesMember 2019-12-31 0001318605 tsla:NonrecourseDebtMember tsla:ChinaLoanAgreementsMember 2019-12-31 0001318605 tsla:NonrecourseDebtMember tsla:CashEquityDebtMember 2019-12-31 0001318605 tsla:NonrecourseDebtMember tsla:SolarLoanBackedNotesMember 2019-12-31 0001318605 tsla:NonrecourseDebtMember tsla:WarehouseAgreementMember 2019-12-31 0001318605 tsla:NonrecourseDebtMember tsla:SolarTermLoansMember 2019-12-31 0001318605 tsla:NonrecourseDebtMember tsla:CanadaCreditFacilityMember 2019-12-31 0001318605 tsla:NonrecourseDebtMember tsla:SolarRenewableEnergyCreditAndOtherLoansMember 2019-12-31 0001318605 tsla:NonrecourseDebtMember 2019-12-31 0001318605 tsla:RecourseDebtMember tsla:OnePointTwoFivePercentSeniorConvertibleNoteDueTwentyTwentyOneMember 2019-12-31 0001318605 tsla:RecourseDebtMember tsla:TwoPointThreeSevenFivePercentSeniorConvertibleNoteDueTwentyTwentyTwoMember 2019-12-31 0001318605 tsla:RecourseDebtMember tsla:TwoPointZeroZeroPercentSeniorConvertibleNoteDueTwentyTwentyFourMember 2019-12-31 0001318605 srt:MinimumMember tsla:RecourseDebtMember tsla:CreditAgreementMember 2019-12-31 0001318605 srt:MinimumMember tsla:RecourseDebtMember tsla:SolarBondsAndOtherLoansMember 2019-12-31 0001318605 srt:MinimumMember tsla:NonrecourseDebtMember tsla:AutomotiveAssetBackedNotesMember 2019-12-31 0001318605 srt:MinimumMember tsla:NonrecourseDebtMember tsla:SolarAssetBackedNotesMember 2019-12-31 0001318605 srt:MinimumMember tsla:NonrecourseDebtMember tsla:ChinaLoanAgreementsMember 2019-12-31 0001318605 srt:MinimumMember tsla:NonrecourseDebtMember tsla:CashEquityDebtMember 2019-12-31 0001318605 srt:MinimumMember tsla:NonrecourseDebtMember tsla:SolarLoanBackedNotesMember 2019-12-31 0001318605 srt:MinimumMember tsla:NonrecourseDebtMember tsla:WarehouseAgreementMember 2019-12-31 0001318605 srt:MinimumMember tsla:NonrecourseDebtMember tsla:CanadaCreditFacilityMember 2019-12-31 0001318605 srt:MinimumMember tsla:NonrecourseDebtMember tsla:SolarRenewableEnergyCreditAndOtherLoansMember 2019-12-31 0001318605 srt:MaximumMember tsla:RecourseDebtMember tsla:CreditAgreementMember 2019-12-31 0001318605 srt:MaximumMember tsla:RecourseDebtMember tsla:SolarBondsAndOtherLoansMember 2019-12-31 0001318605 srt:MaximumMember tsla:NonrecourseDebtMember tsla:AutomotiveAssetBackedNotesMember 2019-12-31 0001318605 srt:MaximumMember tsla:NonrecourseDebtMember tsla:SolarAssetBackedNotesMember 2019-12-31 0001318605 srt:MaximumMember tsla:NonrecourseDebtMember tsla:ChinaLoanAgreementsMember 2019-12-31 0001318605 srt:MaximumMember tsla:NonrecourseDebtMember tsla:CashEquityDebtMember 2019-12-31 0001318605 srt:MaximumMember tsla:NonrecourseDebtMember tsla:SolarLoanBackedNotesMember 2019-12-31 0001318605 srt:MaximumMember tsla:NonrecourseDebtMember tsla:WarehouseAgreementMember 2019-12-31 0001318605 srt:MaximumMember tsla:NonrecourseDebtMember tsla:CanadaCreditFacilityMember 2019-12-31 0001318605 srt:MaximumMember tsla:NonrecourseDebtMember tsla:SolarRenewableEnergyCreditAndOtherLoansMember 2019-12-31 0001318605 tsla:RecourseDebtMember tsla:OnePointTwoFivePercentSeniorConvertibleNoteDueTwentyTwentyOneMember 2019-01-01 2019-12-31 0001318605 tsla:RecourseDebtMember tsla:TwoPointThreeSevenFivePercentSeniorConvertibleNoteDueTwentyTwentyTwoMember 2019-01-01 2019-12-31 0001318605 tsla:RecourseDebtMember tsla:TwoPointZeroZeroPercentSeniorConvertibleNoteDueTwentyTwentyFourMember 2019-01-01 2019-12-31 0001318605 tsla:RecourseDebtMember tsla:ZeroCouponConvertibleSeniorNotesDueInTwoThousandTwentyMember 2019-01-01 2019-12-31 0001318605 tsla:NonrecourseDebtMember tsla:WarehouseAgreementMember 2019-01-01 2019-12-31 0001318605 tsla:NonrecourseDebtMember tsla:SolarTermLoansMember 2019-01-01 2019-12-31 0001318605 tsla:NonrecourseDebtMember tsla:CanadaCreditFacilityMember 2019-01-01 2019-12-31 0001318605 tsla:RecourseDebtMember tsla:CreditAgreementMember 2019-01-01 2019-12-31 0001318605 tsla:RecourseDebtMember tsla:SolarBondsAndOtherLoansMember 2019-01-01 2019-12-31 0001318605 tsla:NonrecourseDebtMember tsla:AutomotiveAssetBackedNotesMember 2019-01-01 2019-12-31 0001318605 tsla:NonrecourseDebtMember tsla:SolarAssetBackedNotesMember 2019-01-01 2019-12-31 0001318605 tsla:NonrecourseDebtMember tsla:ChinaLoanAgreementsMember 2019-01-01 2019-12-31 0001318605 tsla:NonrecourseDebtMember tsla:CashEquityDebtMember 2019-01-01 2019-12-31 0001318605 tsla:NonrecourseDebtMember tsla:SolarLoanBackedNotesMember 2019-01-01 2019-12-31 0001318605 tsla:NonrecourseDebtMember tsla:SolarRenewableEnergyCreditAndOtherLoansMember 2019-01-01 2019-12-31 0001318605 us-gaap:SeniorNotesMember srt:MinimumMember 2020-03-31 utr:D 0001318605 us-gaap:SeniorNotesMember tsla:OneHundredThirtyPercentApplicableConversionPriceMember srt:MaximumMember 2020-01-01 2020-03-31 0001318605 us-gaap:SeniorNotesMember tsla:OneHundredThirtyPercentApplicableConversionPriceMember srt:MinimumMember 2020-01-01 2020-03-31 0001318605 tsla:CreditAgreementMember us-gaap:RevolvingCreditFacilityMember 2020-01-01 2020-03-31 0001318605 tsla:CreditAgreementMember us-gaap:RevolvingCreditFacilityMember 2020-03-31 0001318605 srt:MaximumMember us-gaap:EmployeeStockOptionMember 2020-01-01 2020-03-31 0001318605 srt:MaximumMember us-gaap:RestrictedStockUnitsRSUMember 2020-01-01 2020-03-31 0001318605 tsla:TwoThousandAndNineteenEquityIncentivePlanMember 2020-03-31 0001318605 srt:ChiefExecutiveOfficerMember tsla:TwoThousandAndEighteenPerformanceAwardMember 2018-03-01 2018-03-31 tsla:Tranches 0001318605 srt:ChiefExecutiveOfficerMember tsla:TwoThousandAndEighteenPerformanceAwardMember 2018-03-31 0001318605 srt:ChiefExecutiveOfficerMember tsla:FirstTrancheMilestoneMember tsla:TwoThousandAndEighteenPerformanceAwardMember 2018-03-31 tsla:milestone 0001318605 srt:ChiefExecutiveOfficerMember tsla:TwoThousandAndEighteenPerformanceAwardMember 2020-01-01 2020-03-31 0001318605 srt:ChiefExecutiveOfficerMember tsla:TwoThousandAndEighteenPerformanceAwardMember 2020-03-31 0001318605 srt:ChiefExecutiveOfficerMember tsla:TwoThousandAndEighteenPerformanceAwardMember tsla:OperatingMilestonesProbableOfBeingAchievedMember 2020-01-01 2020-03-31 0001318605 srt:ChiefExecutiveOfficerMember tsla:FirstTrancheMilestoneMember tsla:TwoThousandAndEighteenPerformanceAwardMember 2020-03-31 0001318605 srt:ChiefExecutiveOfficerMember tsla:TwoThousandAndEighteenPerformanceAwardMember srt:ScenarioForecastMember 2020-09-30 0001318605 srt:ChiefExecutiveOfficerMember tsla:OperatingMilestonesProbableOfBeingAchievedMember tsla:TwoThousandAndEighteenPerformanceAwardMember 2020-03-31 0001318605 srt:ChiefExecutiveOfficerMember tsla:OperationalMilestonesNotConsideredProbableAchievementMember tsla:TwoThousandAndEighteenPerformanceAwardMember 2020-03-31 0001318605 srt:ChiefExecutiveOfficerMember tsla:TwoThousandAndEighteenPerformanceAwardMember 2019-01-01 2019-03-31 0001318605 tsla:TwoThousandAndFourteenEmployeePerformanceBasedStockOptionGrantsMember 2014-12-01 2014-12-31 0001318605 us-gaap:ShareBasedCompensationAwardTrancheOneMember 2020-01-01 2020-03-31 0001318605 us-gaap:ShareBasedCompensationAwardTrancheTwoMember 2020-01-01 2020-03-31 tsla:Vehicle 0001318605 us-gaap:ShareBasedCompensationAwardTrancheThreeMember 2020-01-01 2020-03-31 0001318605 tsla:ShareBasedCompensationAwardTrancheFourMember 2020-01-01 2020-03-31 0001318605 tsla:PerformanceConditionNotConsideredProbableAchievementMember tsla:TwoThousandAndFourteenEmployeePerformanceBasedStockOptionGrantsMember 2020-03-31 0001318605 tsla:TwoThousandAndFourteenEmployeePerformanceBasedStockOptionGrantsMember 2020-01-01 2020-03-31 0001318605 tsla:TwoThousandAndFourteenEmployeePerformanceBasedStockOptionGrantsMember 2019-01-01 2019-03-31 0001318605 srt:ChiefExecutiveOfficerMember tsla:TwoThousandAndTwelvePerformanceAwardMember 2012-08-01 2012-08-31 0001318605 srt:ChiefExecutiveOfficerMember tsla:TwoThousandAndTwelvePerformanceAwardMember 2020-03-31 0001318605 tsla:FourthTrancheMember 2020-01-01 2020-03-31 0001318605 tsla:ThirdTrancheMember 2020-01-01 2020-03-31 0001318605 srt:ChiefExecutiveOfficerMember tsla:TwoThousandAndTwelvePerformanceAwardMember tsla:PerformanceConditionNotConsideredProbableAchievementMember 2020-03-31 0001318605 srt:ChiefExecutiveOfficerMember tsla:TwoThousandAndTwelvePerformanceAwardMember 2020-01-01 2020-03-31 0001318605 srt:ChiefExecutiveOfficerMember tsla:TwoThousandAndTwelvePerformanceAwardMember 2019-01-01 2019-03-31 0001318605 us-gaap:ResearchAndDevelopmentExpenseMember 2020-01-01 2020-03-31 0001318605 us-gaap:ResearchAndDevelopmentExpenseMember 2019-01-01 2019-03-31 0001318605 tsla:SellingGeneralAndAdministrativeExpenseMember 2020-01-01 2020-03-31 0001318605 tsla:SellingGeneralAndAdministrativeExpenseMember 2019-01-01 2019-03-31 0001318605 tsla:RestructuringAndOtherMember 2019-01-01 2019-03-31 0001318605 tsla:BuildToSuitLeaseArrangementMember tsla:ResearchFoundationMember 2020-03-31 0001318605 tsla:BuildToSuitLeaseArrangementMember tsla:ResearchFoundationMember srt:ScenarioForecastMember 2020-04-01 2020-04-30 0001318605 country:CN 2020-03-31 iso4217:CNY tsla:Plaintiff 0001318605 tsla:LawsuitInCourtOfChanceryOfStateOfDelawareByPurportedStockholdersOfTeslaChallengingSolarCityAcquisitionMember 2016-09-01 2016-10-05 0001318605 us-gaap:VariableInterestEntityPrimaryBeneficiaryAggregatedDisclosureMember 2020-03-31 0001318605 us-gaap:VariableInterestEntityPrimaryBeneficiaryAggregatedDisclosureMember 2019-12-31 0001318605 us-gaap:VariableInterestEntityPrimaryBeneficiaryAggregatedDisclosureMember tsla:OperatingLeaseVehiclesMember 2020-03-31 0001318605 us-gaap:VariableInterestEntityPrimaryBeneficiaryAggregatedDisclosureMember tsla:OperatingLeaseVehiclesMember 2019-12-31 0001318605 us-gaap:VariableInterestEntityPrimaryBeneficiaryAggregatedDisclosureMember tsla:SolarEnergySystemsMember 2020-03-31 0001318605 us-gaap:VariableInterestEntityPrimaryBeneficiaryAggregatedDisclosureMember tsla:SolarEnergySystemsMember 2019-12-31 0001318605 srt:ChiefExecutiveOfficerMember 2020-02-01 2020-02-29 0001318605 srt:DirectorMember 2020-02-01 2020-02-29 0001318605 tsla:AutomotiveSegmentMember 2020-01-01 2020-03-31 0001318605 tsla:AutomotiveSegmentMember 2019-01-01 2019-03-31 0001318605 tsla:EnergyGenerationAndStorageSegmentMember 2020-01-01 2020-03-31 0001318605 tsla:EnergyGenerationAndStorageSegmentMember 2019-01-01 2019-03-31 0001318605 country:US 2020-01-01 2020-03-31 0001318605 country:US 2019-01-01 2019-03-31 0001318605 country:CN 2020-01-01 2020-03-31 0001318605 country:CN 2019-01-01 2019-03-31 0001318605 tsla:OtherCountriesMember 2020-01-01 2020-03-31 0001318605 tsla:OtherCountriesMember 2019-01-01 2019-03-31 0001318605 country:US 2020-03-31 0001318605 country:US 2019-12-31 0001318605 tsla:InternationalMember 2020-03-31 0001318605 tsla:InternationalMember 2019-12-31

 

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-Q

(Mark One)

QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended March 31, 2020

OR

TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

Commission File Number: 001-34756

Tesla, Inc.

(Exact name of registrant as specified in its charter)

 

Delaware

 

91-2197729

(State or other jurisdiction of

incorporation or organization)

 

(I.R.S. Employer

Identification No.)

 

3500 Deer Creek Road

Palo Alto , California

 

94304

(Address of principal executive offices)

 

(Zip Code)

( 650 ) 681-5000

(Registrant’s telephone number, including area code)

Securities registered pursuant to Section 12(b) of the Act:

 

Title of each class

Trading Symbol(s)

Name of each exchange on which registered

Common stock

TSLA

The Nasdaq Global Select Market

 

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 (“Exchange Act”) during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.     Yes        No  

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).     Yes        No  

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company”, and “emerging growth company” in Rule 12b-2 of the Exchange Act:

 

Large accelerated filer

 

 

 

 

Accelerated filer

 

 

 

 

 

 

 

 

 

 

Non-accelerated filer

 

 

 

 

Smaller reporting company

 

 

 

 

 

 

 

 

 

 

Emerging growth company

 

 

 

 

 

 

 

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.  

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).    Yes       No   ☒

As of April 23, 2020, there were 185,371,105  shares of the registrant’s common stock outstanding.

 

 

 


 

TESLA, INC.

FORM 10-Q FOR THE QUARTER ENDED MARCH 31, 2020

INDEX

 

 

 

 

 

Page

PART I. FINANCIAL INFORMATION

 

 

 

 

 

 

 

Item 1.

 

Financial Statements (Unaudited)

 

4

 

 

Consolidated Balance Sheets

 

4

 

 

Consolidated Statements of Operations

 

5

 

 

Consolidated Statements of Comprehensive Loss

 

6

 

 

Consolidated Statements of Redeemable Noncontrolling Interests and Equity

 

7

 

 

Consolidated Statements of Cash Flow

 

8

 

 

Notes to Consolidated Financial Statements

 

9

Item 2.

 

Management’s Discussion and Analysis of Financial Condition and Results of Operations

 

34

Item 3.

 

Quantitative and Qualitative Disclosures About Market Risk

 

47

Item 4

 

Control and Procedures

 

47

 

 

 

PART II. OTHER INFORMATION

 

 

 

 

 

 

Item 1.

 

Legal Proceeding

 

48

Item 1A.

 

Risk Factors

 

49

Item 2

 

Unregistered Sales of Equity Securities and Use of Proceeds

 

69

Item 3

 

Defaults Upon Senior Securities

 

69

Item 4.

 

Mine Safety Disclosures

 

69

Item 5.

 

Other Information

 

69

Item 6.

 

Exhibits

 

70

 

 

 

SIGNATURES

 

72

 

 

 

i


 

Forward-Looking Statements

The discussions in this Quarterly Report on Form 10-Q contain forward-looking statements reflecting our current expectations that involve risks and uncertainties. These forward-looking statements include, but are not limited to, statements concerning our strategy, future operations, future financial position, future revenues, projected costs, profitability, expected cost reductions, capital adequacy, expectations regarding demand and acceptance for our technologies, growth opportunities and trends in the market in which we operate, prospects and plans and objectives of management. The words “anticipates,” “believes,” “could,” “estimates,” “expects,” “intends,” “may,” “plans,” “projects,” “will,” “would” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. We may not actually achieve the plans, intentions or expectations disclosed in our forward-looking statements and you should not place undue reliance on our forward-looking statements. Actual results or events could differ materially from the plans, intentions and expectations disclosed in the forward-looking statements that we make. These forward-looking statements involve risks and uncertainties that could cause our actual results to differ materially from those in the forward-looking statements, including, without limitation, the risks set forth in Part II, Item 1A, “Risk Factors” in this Quarterly Report on Form 10-Q and in our other filings with the Securities and Exchange Commission. We do not assume any obligation to update any forward-looking statements.

 

 

 

 

 


 

PART I. FINANCIAL INFORMATION

ITEM 1. FINANCIAL STATEMENTS

Tesla, Inc.

Consolidated Balance Sheets

(in millions, except per share data)

(unaudited)

 

 

 

March 31,

 

 

December 31,

 

 

 

2020

 

 

2019

 

Assets

 

 

 

 

 

 

 

 

Current assets

 

 

 

 

 

 

 

 

Cash and cash equivalents

 

$

8,080

 

 

$

6,268

 

Accounts receivable, net

 

 

1,274

 

 

 

1,324

 

Inventory

 

 

4,494

 

 

 

3,552

 

Prepaid expenses and other current assets

 

 

1,045

 

 

 

959

 

Total current assets

 

 

14,893

 

 

 

12,103

 

Operating lease vehicles, net

 

 

2,527

 

 

 

2,447

 

Solar energy systems, net

 

 

6,106

 

 

 

6,138

 

Property, plant and equipment, net

 

 

10,638

 

 

 

10,396

 

Operating lease right-of-use assets

 

 

1,197

 

 

 

1,218

 

Intangible assets, net

 

 

323

 

 

 

339

 

Goodwill

 

 

193

 

 

 

198

 

Other non-current assets

 

 

1,373

 

 

 

1,470

 

Total assets

 

$

37,250

 

 

$

34,309

 

Liabilities

 

 

 

 

 

 

 

 

Current liabilities

 

 

 

 

 

 

 

 

Accounts payable

 

$

3,970

 

 

$

3,771

 

Accrued liabilities and other

 

 

2,825

 

 

 

3,222

 

Deferred revenue

 

 

1,186

 

 

 

1,163

 

Customer deposits

 

 

788

 

 

 

726

 

Current portion of debt and finance leases

 

 

3,217

 

 

 

1,785

 

Total current liabilities

 

 

11,986

 

 

 

10,667

 

Debt and finance leases, net of current portion

 

 

10,666

 

 

 

11,634

 

Deferred revenue, net of current portion

 

 

1,199

 

 

 

1,207

 

Other long-term liabilities

 

 

2,667

 

 

 

2,691

 

Total liabilities

 

 

26,518

 

 

 

26,199

 

Commitments and contingencies (Note 12)

 

 

 

 

 

 

 

 

Redeemable noncontrolling interests in subsidiaries

 

 

632

 

 

 

643

 

Convertible senior notes (Note 10)

 

 

60

 

 

 

 

Equity

 

 

 

 

 

 

 

 

Stockholders' equity

 

 

 

 

 

 

 

 

Preferred stock; $ 0.001 par value; 100 shares authorized;

   no shares issued and outstanding

 

 

 

 

 

 

Common stock; $ 0.001 par value; 2,000 shares authorized; 185 and

   181 shares issued and outstanding as of March 31, 2020 and December 31,

   2019, respectively

 

 

0

 

 

 

0

 

Additional paid-in capital

 

 

15,390

 

 

 

12,737

 

Accumulated other comprehensive loss

 

 

( 113

)

 

 

( 36

)

Accumulated deficit

 

 

( 6,104

)

 

 

( 6,083

)

Total stockholders' equity

 

 

9,173

 

 

 

6,618

 

Noncontrolling interests in subsidiaries

 

 

867

 

 

 

849

 

Total liabilities and equity

 

$

37,250

 

 

$

34,309

 

 

The accompanying notes are an integral part of these consolidated financial statements.

 

4


 

Tesla, Inc.

 

Consolidated Statements of Operations

(in millions, except per share data)

(unaudited)

 

 

 

Three Months Ended March 31,

 

 

 

2020

 

 

2019

 

Revenues

 

 

 

 

 

 

 

 

Automotive sales

 

$

4,893

 

 

$

3,509

 

Automotive leasing

 

 

239

 

 

 

215

 

Total automotive revenues

 

 

5,132

 

 

 

3,724

 

Energy generation and storage

 

 

293

 

 

 

324

 

Services and other

 

 

560

 

 

 

493

 

Total revenues

 

 

5,985

 

 

 

4,541

 

Cost of revenues

 

 

 

 

 

 

 

 

Automotive sales

 

 

3,699

 

 

 

2,856

 

Automotive leasing

 

 

122

 

 

 

117

 

Total automotive cost of revenues

 

 

3,821

 

 

 

2,973

 

Energy generation and storage

 

 

282

 

 

 

316

 

Services and other

 

 

648

 

 

 

686

 

Total cost of revenues

 

 

4,751

 

 

 

3,975

 

Gross profit

 

 

1,234

 

 

 

566

 

Operating expenses

 

 

 

 

 

 

 

 

Research and development

 

 

324

 

 

 

340

 

Selling, general and administrative

 

 

627

 

 

 

704

 

Restructuring and other

 

 

 

 

 

44

 

Total operating expenses

 

 

951

 

 

 

1,088

 

Income (loss) from operations

 

 

283

 

 

 

( 522

)

Interest income

 

 

10

 

 

 

9

 

Interest expense

 

 

( 169

)

 

 

( 158

)

Other (expense) income, net

 

 

( 54

)

 

 

26

 

Income (loss) before income taxes

 

 

70

 

 

 

( 645

)

Provision for income taxes

 

 

2

 

 

 

23

 

Net income (loss)

 

 

68

 

 

 

( 668

)

Net income attributable to noncontrolling interests and

   redeemable noncontrolling interests in subsidiaries

 

 

52

 

 

 

34

 

Net income (loss) attributable to common stockholders

 

$

16

 

 

$

( 702

)

Net income (loss) per share of common stock attributable to

   common stockholders

 

 

 

 

 

 

 

 

Basic

 

$

0.09

 

 

$

( 4.10

)

Diluted

 

$

0.08

 

 

$

( 4.10

)

Weighted average shares used in computing net income (loss) per

   share of common stock

 

 

 

 

 

 

 

 

Basic

 

 

183

 

 

 

173

 

Diluted

 

 

199

 

 

 

173

 

 

The accompanying notes are an integral part of these consolidated financial statements.

 

5


 

Tesla, Inc.

Consolidated Statements of Comprehensive Loss

(in millions)

(unaudited)

 

 

 

Three Months Ended March 31,

 

 

 

2020

 

 

2019

 

Net income (loss)

 

$

68

 

 

$

( 668

)

Other comprehensive loss:

 

 

 

 

 

 

 

 

Foreign currency translation adjustment

 

 

( 77

)

 

 

( 27

)

Comprehensive loss

 

 

( 9

)

 

 

( 695

)

Less: Comprehensive income attributable to noncontrolling

   interests and redeemable noncontrolling interests in subsidiaries

 

 

52

 

 

 

34

 

Comprehensive loss attributable to common stockholders

 

$

( 61

)

 

$

( 729

)

 

The accompanying notes are an integral part of these consolidated financial statements.

 

 

6


 

Tesla, Inc.

Consolidated Statements of Redeemable Noncontrolling Interests and Equity

(in millions, except per share data)

(unaudited)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Accumulated

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Redeemable

 

 

 

 

 

 

 

 

 

 

 

Additional

 

 

 

 

 

 

Other

 

 

Total

 

 

Noncontrolling

 

 

 

 

 

 

 

Noncontrolling

 

 

 

Common Stock

 

 

Paid-In

 

 

Accumulated

 

 

Comprehensive

 

 

Stockholders'

 

 

Interests in

 

 

Total

 

 

 

Interests

 

 

 

Shares

 

 

Amount

 

 

Capital

 

 

Deficit

 

 

Loss

 

 

Equity

 

 

Subsidiaries

 

 

Equity

 

Balance as of December 31, 2018

 

$

556

 

 

 

 

173

 

 

$

0

 

 

$

10,249

 

 

$

( 5,318

)

 

$

( 8

)

 

$

4,923

 

 

$

834

 

 

$

5,757

 

Adjustments for prior periods from adopting ASC 842

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

97

 

 

 

 

 

 

97

 

 

 

 

 

 

97

 

Issuance of common stock for equity incentive awards and acquisitions, net of transaction costs

 

 

 

 

 

 

1

 

 

 

0

 

 

 

93

 

 

 

 

 

 

 

 

 

93

 

 

 

 

 

 

 

93

 

Stock-based compensation

 

 

 

 

 

 

 

 

 

 

 

 

230

 

 

 

 

 

 

 

 

 

230

 

 

 

 

 

 

230

 

Contributions from noncontrolling interests

 

 

31

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

16

 

 

 

16

 

Distributions to noncontrolling interests

 

 

( 11

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

( 28

)

 

 

( 28

)

Other

 

 

 

 

 

 

 

 

 

 

 

 

( 8

)

 

 

 

 

 

 

 

 

( 8

)

 

 

 

 

 

( 8

)

Net (loss) income

 

 

( 6

)

 

 

 

 

 

 

 

 

 

 

 

 

( 702

)

 

 

 

 

 

( 702

)

 

 

40

 

 

 

( 662

)

Other comprehensive loss

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

( 27

)

 

 

( 27

)

 

 

 

 

 

( 27

)

Balance as of March 31, 2019

 

$

570

 

 

 

 

174

 

 

$

0

 

 

$

10,564

 

 

$

( 5,923

)

 

$

( 35

)

 

$

4,606

 

 

$

862

 

 

$

5,468

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Accumulated

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Redeemable

 

 

 

 

 

 

 

 

 

 

 

 

 

Additional

 

 

 

 

 

 

 

 

Other

 

 

Total

 

 

Noncontrolling

 

 

 

 

 

 

 

Noncontrolling

 

 

 

Common Stock

 

 

Paid-In

 

 

Accumulated

 

 

 

 

Comprehensive

 

 

Stockholders'

 

 

Interests in

 

 

Total

 

 

 

Interests

 

 

 

Shares

 

 

 

 

Amount

 

 

Capital

 

 

Deficit

 

 

 

 

Loss

 

 

Equity