A B D E F G H 1.84 1. Current Ratio: 1.84 2. Quick Ratio: 3. Cash Ratio 0.00 4. Total Debt Ratio: 1.00 5. Debt-Equity Ratio DIV/01 6. Equity Multiplier #DIV/01 7. Times Interest Eamed Ratio #REFI 8. Cash Coverage Ratio HREFI 9. Inventory Tumover #DIV/01 10. Days Sales In Inventory DIV/0! 11. Receivables Tumover: #DIV/0! 12. Days Sales In Receivables: NDIV/0! 13. Total Asset Turnover: 0.00 14. Capital intensity #DIV/0! 15. Profit Margin: NDIV/0! 16. ROA: 0.00 17. ROE: NDIV/0! 18. Price-Eamings Ratio #DIV/01 19. Market-To-Book-Ratio. #DIV/01 1 (in Millions) 2 Current Assets: $ 26,171 Cost of Goods Sold 3 Current Liabilities: 14,248 Inventory Turnover: 4 inventory: Sales 5 Cash: Accounts Receivable: 6 Total Assets: $ 52,148 Receivables Turnover: 7 Total Equity Net Income: 8 Total Debt Price Per Share: 9 EBIT: Earnings Per Share: 10. Interest: Market Value Per Share: 11 Depreciation: Book Value Per Share: 12 Shares Outstanding 13 14 15 16 17 18 19 20 21 22 DuPont Analysis 23 (In Milions) 2020 (in Millions) 24 Net Income: Net Income 25 Sales: 0 Sales: 26 Assets 52148 Assets: 27 Equity 0 Equity: 28 29 ROE Net Income/Sales) X (Sales/Assets) X (Assets/Equity) 30 ROE NDIV/0! 31 32 Year 33 Component 2019 2018 2017 34 Net Income/Sales #DIV/0! #DIV/01 #DIV/0! Profit Margin 35 Sales/Assets: 0 #DIV/01 #DIV/OLTA Tumover 36 Assets/Equity #DIV/0! #DIV/0! #DIV/0! Leverage 37 ROE: #DIV/01 #DIV/0! #DIV/01 38 39 Extended DuPont Analysis 40 ROE EBIT/Sales x EBT/EBITNI/EBT Sales/TAXTA/TE 41 EBIT/Sales #DIV/0! Operating Margin 42 EBT/EBIT #DIV/0! Interest Burden 43 NI/EBT O Tax Burden 44 Sales/TA 45 TA/TE NDIV/0! Leverage 2019 2018 (in Millions) Net Income: Sales: Assets Equity Measures Operating Efficiency Measures Asset use efficiency Measures Financial leverage Interest Expense The following table presents the interest expense related to the contractual interest coupon, the amortization of debt issuance costs, the amortization of debt discounts and losses on extinguishment of debt on our convertible senior notes with cash conversion features, which include the 1.50% Convertible Senior Notes due in 2018 (matured in June 2018), the 2019 Notes (matured in March 2019), the 2021 Notes, the 2022 Notes and the 2024 Notes (in millions): Year Ended December 31, 2020 2019 2018 Contractual interest coupon 73 $ 65 $ 43 Amortization of debt issuance costs 7 7 7 Amortization of debt discounts 173 123 Losses on extinguishment of debt 105 Total 358 $ 220 $ 173 148 UU Consolidated Balance Sheets (in millions, except per share data) December 31. 2020 December 31, 2019 19.384 1,886 4101 1,346 26,717 1,091 5.979 12,747 1,358 311 207 1,516 52,145 6,268 1,324 3.552 959 12.103 2447 6,13 10.396 1,218 3:39 193 1.470 34 309 5 $ Assets Current Cash and cash equivalents Accounts receivable, met Inventory Prepaid expenses and other current assets Total current assets Operating lese vehicles, et Solar energy systems, net Property, plant and equipment, net Operating lease right-of-seases Intangible assets, el Goodwill Other non-current Assets Total assets Liabilities Current liabilities Accounts payable Accrued liabilities and other Deferred revenue Customer deposits Current portion of debt and finance cases Total current liabilities Debt and finance lenses, net of current portion Deferred reveme, niet of current portion Other long-term liabilities Total liabilities Commitments and contingencies (Note 16) Redeemable no controlling interests in subsidiaries Convertible senior notes (Nole 12) Equity Stockholders' equity Preferred stock: 50.001 par value; 100 shares authorized; no shares and outstanding Common stock; $0.001 par value. 2,000 shares authorized: 960 and 905 shares issued and outstandings of December 31, 2020 and December 31. 2019. respectively (1) Additional paid in capital (1) Accumulated other comprehensive income (1) Accumulated defill Total stockholders' equity Noncontrolling interests in subsidiaries Total liabilities and equity 6.051 3.855 1.458 752 2,132 14,248 9,556 1,771 J.222 1.16) 726 1,785 10,667 11.454 1.284 3,110 28,418 1,207 2.691 26,199 604 51 1 27,260 363 (5,399) 22,225 850 52.148 12,736 (36 (6,081 6,61% 319 34,100 $ funk diiden Annit 2020 Soe Note I. Overview fo Consolidated Statements of Operations (in millions, except per share data) Year Kaded December 31 2019 2020 $ $ S 26,184 1,052 27,236 1,994 2,306 31.536 19.952 869 20.821 1,531 2.226 24,578 17.632 63 18,515 1.555 1,391 21.461 19.696 563 20.259 1976 2671 24,906 6,630 15,939 459 16,398 1,341 2.770 20.509 4.069 13.686 ER 14.174 1,365 1,880 Revenues Automotive sales Automotive leasing Total automotive revenues Energy generation and storage Services and other Total revenues Cost of revenues Automotive sales Automotive leasing Total automotive cost of revenues Energy generation and storage Services and other Total cost of revenues Gross profile Operating expenses Research and development Selling, general and administrative Restructuring and other Total operating expenses Income (los) from operations Interest income Interest expense Other (expense) income, net Income (loss) before income taxes Provision for income taxes Net Income (loss) Net income (loss) attributable to noncontrolling interests and redeemable noncontrolling interests in subsidiaries Net Income (loss) attributable to common stockholders 17419 4,042 1.491 3.145 4,636 1,994 30 (748) (122) 1,154 292 862 1.343 2,646 149 4,138 (69) 44 (685) 45 (665) 110 (775) 1460 2,835 135 4,410 388) 24 (663) 22 (1.005) 58 (1,063) 141 721 87 (862) (87 1976 31 S 690 S (870 1976 0,74 $ S Less: Buy-out of noncontrolling interest Net income (loss) used in computing net income (loss) per share of common stock Net income (los) per share of common stock attributable to common stockholders (1) Basic Diluted Weighted average shares used in computing net income (loss) per share of common stock (1) Basic Diluted (0.98 (0.98 1.14 (1.14 0.64 $ 933 1.083 887 887 853 853 of stock dividend in August 2020. See Note 1, Overview, for Tesla, Inc. Consolidated Statements of Cash Flows (in millions) Year Ended December 31, 2019 2020 2018 362 $ 1725) 5 (1.06 2.322 1,734 180 202 117 114 22 2,154 193 183 193 146 (41) 136 1.00 740 199 25 19 (497) (1.823) 215) (10 (632) (422) LOT2 (251) (144) 2,102 321 7 495 5,90 (367) (429) (764) (255) 115 640 ROL 038 3 2405 1.799 406 (25 2.00 101) 1.327) chos) Cash Flows from Operating Activities Nelle (los) Adjustments to reconcile et income out of cash provided by activities Depreciation, moration and impament Stock-based computin Amortation of debt discounts and eCOM Inventory and purchase is widows Loss en disposals of fixed asset Foreign currency transaction et lain) Non-Cash interest and other operating activities Operating the related to payment of discounted online Changes in pering and liabilities, set of effect of business combination Accounts receivable lovestory Operating are vehicles Prepaid expenderen Other current Accounts payable and cred liabilities Deferred revet Customer deposite Other loyember Nel can provided by operating sitivities Cash Flows from investing Activiti Purchase of property and quite exceding financement of sales Purchase of contem, et les Receipt of your Partha egiten Bes combination set of each equired Nel che initiative Cash Flows from sing Activities Proceeds from wes of common stock in publicering water conta Proceeds from wes of convertible and other det Recovered the Kepayment of Sorrowing old parties Cellpy Pwederom eers of caption and the Principles finance Deco Partene Procedere Peas itarian Distribution to continuar Payment to buy out of control in die Nota provided by of edung telepon cache andre Net increase in the equivalente de Culiwa wale Cash and chequivalente cald Supple-Chavesting and ancia Art Equity in with sin combinatie As of property and questi Carval of facilities were Supplemental Desures ) Cache paid during the period for internetomis aplied Cupid during the performed (1197) (75 121 010) (0) c) 145 11.430 1226 3,113 (133) 10.01 19,161) IN 17 (100) (55) (340) 3) (6) 13 0) 263 021) 073 (476 114 21 0m 0227 34 (20) 03 w 114 IN 13 3 2000 12 313 165 17 301 362 340 455 15 115 Consolidated Balance Sheets (in millions, except per share data) December 31, 2020 3.222 Assets December 31, Current assets 2019 Cash and cash equivalents Accounts receivable, net 19,384 S Inventory 6,268 Prepaid expenses and other current assets 1,886 1,324 4.101 Total current assets 3,552 1,346 959 Operating lease vehicles, net 26 717 Solar energy systems, net 12,103 3,091 2,447 Property, plant and equipment, net 5,979 6,138 Operating lease right-of-use assets 12,747 10,396 Intangible assets, net 1,558 1,218 Goodwill 313 339 Other non-current assets 207 198 Total assets 1536 1470 52,148 S Liabilities 34,309 Current liabilities Accounts payable 6,051 S 3,771 Accrued liabilities and other 3,855 Deferred revenue 1.458 1,163 Customer deposits 752 726 Current portion of debt and finance leases 2,132 1.785 Total current liabilities 14,248 10.667 Debt and finance leases, not of current portion 9,556 11,634 Deferred revenue, net of current portion 1,284 1,207 Other long-term liabilities 3,330 2.691 Total liabilities 28,418 26.199 Commitments and contingencies (Noto 16) 604 643 Redeemable noncontrolling interests in subsidiaries 51 Convertible senior notes (Note 12) Equity Stockholders' equity Preferred stock: 50.001 par value; 100 shares authorized; no shares issued and outstanding Common stock; 0.001 par value; 2,000 shares authorized: 960 and 905 shares issued and outstanding as of December 31, 2020 and December 31, 1 2019, respectively (1) 27,260 12,736 Additional paid-in capital (1) 363 (36) Accumulated other comprehensive income (loss) (5.399) 16,083 Accumulated deficit 22.225 6,618 Total stockholders' equity 850 849 52.148 s Noncontrolling interests in subsidiaries 34,309 Total liabilities and equity frana ctack snlit effected in the form of a stock A B D E F G H 1.84 1. Current Ratio: 1.84 2. Quick Ratio: 3. Cash Ratio 0.00 4. Total Debt Ratio: 1.00 5. Debt-Equity Ratio DIV/01 6. Equity Multiplier #DIV/01 7. Times Interest Eamed Ratio #REFI 8. Cash Coverage Ratio HREFI 9. Inventory Tumover #DIV/01 10. Days Sales In Inventory DIV/0! 11. Receivables Tumover: #DIV/0! 12. Days Sales In Receivables: NDIV/0! 13. Total Asset Turnover: 0.00 14. Capital intensity #DIV/0! 15. Profit Margin: NDIV/0! 16. ROA: 0.00 17. ROE: NDIV/0! 18. Price-Eamings Ratio #DIV/01 19. Market-To-Book-Ratio. #DIV/01 1 (in Millions) 2 Current Assets: $ 26,171 Cost of Goods Sold 3 Current Liabilities: 14,248 Inventory Turnover: 4 inventory: Sales 5 Cash: Accounts Receivable: 6 Total Assets: $ 52,148 Receivables Turnover: 7 Total Equity Net Income: 8 Total Debt Price Per Share: 9 EBIT: Earnings Per Share: 10. Interest: Market Value Per Share: 11 Depreciation: Book Value Per Share: 12 Shares Outstanding 13 14 15 16 17 18 19 20 21 22 DuPont Analysis 23 (In Milions) 2020 (in Millions) 24 Net Income: Net Income 25 Sales: 0 Sales: 26 Assets 52148 Assets: 27 Equity 0 Equity: 28 29 ROE Net Income/Sales) X (Sales/Assets) X (Assets/Equity) 30 ROE NDIV/0! 31 32 Year 33 Component 2019 2018 2017 34 Net Income/Sales #DIV/0! #DIV/01 #DIV/0! Profit Margin 35 Sales/Assets: 0 #DIV/01 #DIV/OLTA Tumover 36 Assets/Equity #DIV/0! #DIV/0! #DIV/0! Leverage 37 ROE: #DIV/01 #DIV/0! #DIV/01 38 39 Extended DuPont Analysis 40 ROE EBIT/Sales x EBT/EBITNI/EBT Sales/TAXTA/TE 41 EBIT/Sales #DIV/0! Operating Margin 42 EBT/EBIT #DIV/0! Interest Burden 43 NI/EBT O Tax Burden 44 Sales/TA 45 TA/TE NDIV/0! Leverage 2019 2018 (in Millions) Net Income: Sales: Assets Equity Measures Operating Efficiency Measures Asset use efficiency Measures Financial leverage Interest Expense The following table presents the interest expense related to the contractual interest coupon, the amortization of debt issuance costs, the amortization of debt discounts and losses on extinguishment of debt on our convertible senior notes with cash conversion features, which include the 1.50% Convertible Senior Notes due in 2018 (matured in June 2018), the 2019 Notes (matured in March 2019), the 2021 Notes, the 2022 Notes and the 2024 Notes (in millions): Year Ended December 31, 2020 2019 2018 Contractual interest coupon 73 $ 65 $ 43 Amortization of debt issuance costs 7 7 7 Amortization of debt discounts 173 123 Losses on extinguishment of debt 105 Total 358 $ 220 $ 173 148 UU Consolidated Balance Sheets (in millions, except per share data) December 31. 2020 December 31, 2019 19.384 1,886 4101 1,346 26,717 1,091 5.979 12,747 1,358 311 207 1,516 52,145 6,268 1,324 3.552 959 12.103 2447 6,13 10.396 1,218 3:39 193 1.470 34 309 5 $ Assets Current Cash and cash equivalents Accounts receivable, met Inventory Prepaid expenses and other current assets Total current assets Operating lese vehicles, et Solar energy systems, net Property, plant and equipment, net Operating lease right-of-seases Intangible assets, el Goodwill Other non-current Assets Total assets Liabilities Current liabilities Accounts payable Accrued liabilities and other Deferred revenue Customer deposits Current portion of debt and finance cases Total current liabilities Debt and finance lenses, net of current portion Deferred reveme, niet of current portion Other long-term liabilities Total liabilities Commitments and contingencies (Note 16) Redeemable no controlling interests in subsidiaries Convertible senior notes (Nole 12) Equity Stockholders' equity Preferred stock: 50.001 par value; 100 shares authorized; no shares and outstanding Common stock; $0.001 par value. 2,000 shares authorized: 960 and 905 shares issued and outstandings of December 31, 2020 and December 31. 2019. respectively (1) Additional paid in capital (1) Accumulated other comprehensive income (1) Accumulated defill Total stockholders' equity Noncontrolling interests in subsidiaries Total liabilities and equity 6.051 3.855 1.458 752 2,132 14,248 9,556 1,771 J.222 1.16) 726 1,785 10,667 11.454 1.284 3,110 28,418 1,207 2.691 26,199 604 51 1 27,260 363 (5,399) 22,225 850 52.148 12,736 (36 (6,081 6,61% 319 34,100 $ funk diiden Annit 2020 Soe Note I. Overview fo Consolidated Statements of Operations (in millions, except per share data) Year Kaded December 31 2019 2020 $ $ S 26,184 1,052 27,236 1,994 2,306 31.536 19.952 869 20.821 1,531 2.226 24,578 17.632 63 18,515 1.555 1,391 21.461 19.696 563 20.259 1976 2671 24,906 6,630 15,939 459 16,398 1,341 2.770 20.509 4.069 13.686 ER 14.174 1,365 1,880 Revenues Automotive sales Automotive leasing Total automotive revenues Energy generation and storage Services and other Total revenues Cost of revenues Automotive sales Automotive leasing Total automotive cost of revenues Energy generation and storage Services and other Total cost of revenues Gross profile Operating expenses Research and development Selling, general and administrative Restructuring and other Total operating expenses Income (los) from operations Interest income Interest expense Other (expense) income, net Income (loss) before income taxes Provision for income taxes Net Income (loss) Net income (loss) attributable to noncontrolling interests and redeemable noncontrolling interests in subsidiaries Net Income (loss) attributable to common stockholders 17419 4,042 1.491 3.145 4,636 1,994 30 (748) (122) 1,154 292 862 1.343 2,646 149 4,138 (69) 44 (685) 45 (665) 110 (775) 1460 2,835 135 4,410 388) 24 (663) 22 (1.005) 58 (1,063) 141 721 87 (862) (87 1976 31 S 690 S (870 1976 0,74 $ S Less: Buy-out of noncontrolling interest Net income (loss) used in computing net income (loss) per share of common stock Net income (los) per share of common stock attributable to common stockholders (1) Basic Diluted Weighted average shares used in computing net income (loss) per share of common stock (1) Basic Diluted (0.98 (0.98 1.14 (1.14 0.64 $ 933 1.083 887 887 853 853 of stock dividend in August 2020. See Note 1, Overview, for Tesla, Inc. Consolidated Statements of Cash Flows (in millions) Year Ended December 31, 2019 2020 2018 362 $ 1725) 5 (1.06 2.322 1,734 180 202 117 114 22 2,154 193 183 193 146 (41) 136 1.00 740 199 25 19 (497) (1.823) 215) (10 (632) (422) LOT2 (251) (144) 2,102 321 7 495 5,90 (367) (429) (764) (255) 115 640 ROL 038 3 2405 1.799 406 (25 2.00 101) 1.327) chos) Cash Flows from Operating Activities Nelle (los) Adjustments to reconcile et income out of cash provided by activities Depreciation, moration and impament Stock-based computin Amortation of debt discounts and eCOM Inventory and purchase is widows Loss en disposals of fixed asset Foreign currency transaction et lain) Non-Cash interest and other operating activities Operating the related to payment of discounted online Changes in pering and liabilities, set of effect of business combination Accounts receivable lovestory Operating are vehicles Prepaid expenderen Other current Accounts payable and cred liabilities Deferred revet Customer deposite Other loyember Nel can provided by operating sitivities Cash Flows from investing Activiti Purchase of property and quite exceding financement of sales Purchase of contem, et les Receipt of your Partha egiten Bes combination set of each equired Nel che initiative Cash Flows from sing Activities Proceeds from wes of common stock in publicering water conta Proceeds from wes of convertible and other det Recovered the Kepayment of Sorrowing old parties Cellpy Pwederom eers of caption and the Principles finance Deco Partene Procedere Peas itarian Distribution to continuar Payment to buy out of control in die Nota provided by of edung telepon cache andre Net increase in the equivalente de Culiwa wale Cash and chequivalente cald Supple-Chavesting and ancia Art Equity in with sin combinatie As of property and questi Carval of facilities were Supplemental Desures ) Cache paid during the period for internetomis aplied Cupid during the performed (1197) (75 121 010) (0) c) 145 11.430 1226 3,113 (133) 10.01 19,161) IN 17 (100) (55) (340) 3) (6) 13 0) 263 021) 073 (476 114 21 0m 0227 34 (20) 03 w 114 IN 13 3 2000 12 313 165 17 301 362 340 455 15 115 Consolidated Balance Sheets (in millions, except per share data) December 31, 2020 3.222 Assets December 31, Current assets 2019 Cash and cash equivalents Accounts receivable, net 19,384 S Inventory 6,268 Prepaid expenses and other current assets 1,886 1,324 4.101 Total current assets 3,552 1,346 959 Operating lease vehicles, net 26 717 Solar energy systems, net 12,103 3,091 2,447 Property, plant and equipment, net 5,979 6,138 Operating lease right-of-use assets 12,747 10,396 Intangible assets, net 1,558 1,218 Goodwill 313 339 Other non-current assets 207 198 Total assets 1536 1470 52,148 S Liabilities 34,309 Current liabilities Accounts payable 6,051 S 3,771 Accrued liabilities and other 3,855 Deferred revenue 1.458 1,163 Customer deposits 752 726 Current portion of debt and finance leases 2,132 1.785 Total current liabilities 14,248 10.667 Debt and finance leases, not of current portion 9,556 11,634 Deferred revenue, net of current portion 1,284 1,207 Other long-term liabilities 3,330 2.691 Total liabilities 28,418 26.199 Commitments and contingencies (Noto 16) 604 643 Redeemable noncontrolling interests in subsidiaries 51 Convertible senior notes (Note 12) Equity Stockholders' equity Preferred stock: 50.001 par value; 100 shares authorized; no shares issued and outstanding Common stock; 0.001 par value; 2,000 shares authorized: 960 and 905 shares issued and outstanding as of December 31, 2020 and December 31, 1 2019, respectively (1) 27,260 12,736 Additional paid-in capital (1) 363 (36) Accumulated other comprehensive income (loss) (5.399) 16,083 Accumulated deficit 22.225 6,618 Total stockholders' equity 850 849 52.148 s Noncontrolling interests in subsidiaries 34,309 Total liabilities and equity frana ctack snlit effected in the form of a stock