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At the most recent balance sheet date, how much in total did Tesla owe its creditors (in millions)? Ca $6,051 b. $14,248 $28,418 Cd. $14,170
At the most recent balance sheet date, how much in total did Tesla owe its creditors (in millions)? Ca $6,051 b. $14,248 $28,418 Cd. $14,170 At the most recent balance sheet date, how much debt does Tesla have to repay within the next year (in millions)? Ca. $6,051 b. $14,248 CC $14,170 Cd. $28,418 At the most recent balance sheet date, how much of Tesla's debt is not due in the next year (in millions)? Ca. $6,051 Cb. $14,248 Cc. $14,170 Cd. $28,418 Tesla owed vendors and suppliers $6,051 (in millions) for purchases made on credit at the most recent balance sheet date J c True False At the most recent balance sheet date, customers had paid $1,458 cash (in millions) to Tesla in advance of receiving goods and services. True False During 2020 Tesla's current liabilities, noncurrent liabilities, and total liabilities increased C True C False Over the last two reporting periods, Tesla's current liabilities as a percentage of total liabilities (current liabilities/total liabilities) a. decreased b. increased Cc. stayed the same Cd. cannot be determined Calculate Tesla's current ratio (current assets/current liabilities) at the last two balance sheet dates. (Round to two decimal places.) Based on the current ratio, Tesla was more liquid in 2020 than it was in 2019 True False Based on the debt to assets ratio (total liabilities/total assets), assets were provided by debt in 2020 than in 2019. of Tesla's Ca more Cb. less Cc. same amount d. cannot be determined According to the Accrued Liabilities note, Tesla had $654 (in millions) in payroll and related costs that was unpaid at the most recent balance sheet date, Ca True b. False Assets Current Cash and cash equivalents Accounts receivable ne Inventory Prepaid expenses and other current assets Total current assets Operating Inase vehicles, net Solar energy systems, bet Property, plant and equipment, bet Operating lease right Goodw Other non-curren Total assets Liabilities Current Accounts payabs seats Accrued abilites and other Deferred neveme Customer deposits Current portion of debt and finance leases Total current liabilities Debs and finance leases, net of current portion Deferred revmon, net of current portion Other long-term abilities Total liabilities Commitments and contingencies (Note 16) Redeemable noncontrolling interests in subsidiaries Convertible senior notes (Note 12) Equity Stockholders' equity Tesla, Inc. Consolidated Balance Sheets (in millions, except per share data) December 31, 2020 December 31, 2019 10.304 1,268 1,886 1,324 4,101 3.552 1,346 565 26.717 12.103 3.091 2.447 5.979 130 12,747 10.306 155 1218 313 330 207 10 1.536 1,470 52148 34309 1,051 3,771 3855 3,222 5,458 1,163 252 226 2.132 1,785 14,248 10,667 0556 11,634 1.294 1,207 3.330 2,691 20,418 604 643 54 Preferred stock $0.001 par value 100 shares authored no shares issued and outstanding Common stock $0.001 par valse 2,000 shares authorized, 960 and 905 shares issued and outstanding as of December 31, 2020 and December 31 2019 respectively (1) Additional paid-in capital (1) Accumilated other comprehensive income (o Accumulated debot Total stockholders aquity Neaconitrulling interests in unidiaries Total liabilities and equity 27,260) 12.730 363 (36) (5399) 22.225 0.083) 6,618 850 $2.148 34,309 (1) Prior period results have been adjusted to reflect the five-for-one stock split affected in the form of a stock dividend in August 2020. See Note 1. Overview, for details. The accompanying notes are an integral part of these consolidated financial statements. 54 Tesla, Inc. Consolidated Statements of Operations (in millions, except per share data) 2020 Year Ended December 31, 2019 2018 Revenues Automotive sales Automotive leasing Total automotive revenues Energy generation and storage Services and other Total revenues Cost of revenues 26,184 19,952 1,052 069 17,632 883 27,236 20.821 1515 1,994 1,531 1,555 2,300 2.226 1391 31.536 24,578 21,461 Automotive sales Automotive leasing Total automotive cost of revenues Energy generation and storage Services and other 19,096 15.939 13,686 563 459 488 20,259 16.398 14.174 1,976 1,341 1.365 2.671 2.770 1.800 Total cost of revenues Gross profit Operating expenses Research and development Selling, general and administrative Restructuring and other Total operating expenses Income (loss) from operations Interest income Interest expense Other (expense) income, net 24.906 20,509 17419 6,630 4,069 4,042 1,491 1,343 1.460 3.145 2,646 2,835 149 135 4,636 4,138 4,430 1994 (69) (388) 30 44 (748) (685) 24 (663) (122) 45 22 Income (loss) before income taxes 1,154 (665) 11.005) Provision for income taxes Net Income (loss) 292 110 58 862 (775) (1,063) Net income (loss) attributable to noncontrolling Interests and redeemable noncontrolling interests in subsidiaries 141 87 (07) Net income (loss) attributable to common stockholders i 731 1063 1976) Less Byy out of noncontrolling interest 31 Net income (loss) used in computing net income (loss) per share of common stock 690 (870) (976) Net income (loss) per share of common stock attributable to common stockholders (1) Basic fluted Weighted average shares used in computing net income (loss) per share of common stock (f)) 0.74 $ 10.981 (1.14) 064 10.98) (1.14) 933 887 853 Dilated 1083 853 (1) Prior period results have been adjusted to reflect the five-for-one stock split effected in the form of a stock dividend in August 2020. See Note 1, Overview, fue details The accompanying notes are an integral part of these consolidated financial statements Cash Flows from Operating Arth Net d Defered Cash Flows from Investing c Punches Supplemental Cash Investing and Flancing Activities (property and epiginant included) Cap during the period te star of captaland Cask the perial for Tesla, Inc. Consolidated Statements of Cash Flows (in millions) 2020 Year Ended December 31, 2019 2018 17751 2354 1,734 100 146 143 40 O 2.102 2.102 331 (1023) (200) 645 404 SME 2400 0357) (1013 (105) 175 (e) 12:397) 10.600 5247) 17491 417 20 (08) on (10 176 34 279 437 Os 8.973 1820 574 (23) 2.506 313 4377 30 6.785 4393 The accompanying notes are an integral part of these consolidated financial statements. 207 543 4 Panasonic has partnered with us on Gigafactory Nevada with investments in the production equipment that it uses to manufacture and supply us with battery cells. Under our arrangement with Panasonic, we plan to purchase the full output from their production equipment at negotiated prices. As the terms of the arrangement convey a finance lease under ASC 842. Leases, we account for their production equipment as leased assets when production commences, We account for each lease and any non-lease components associated with that lease as a single lease component for all asset classes, except production equipment classes embedded in supply agreements. This results in us recording the cost of their production equipment within property, plant and equipment, net, on the consolidated balance sheets with a corresponding liability recorded to debt and finance leases. Depreciation on Panasonic production equipment is computed using the units-of-production method whereby capitalized costs are amortized over the total estimated productive life of the respective assets. As of December 31, 2020 and 2019, we had cumulatively capitalized costs of $1.77 billion and $1.73 billion, respectively, on the consolidated balance sheets in relation to the production equipment under our Panasonic arrangement In 2019, the Shanghal government agreed to provide $85 million of certain incentives in connection with us making certain manufacturing equipment investments at Gigafactory Shanghai, of which $46 million was received in cash and the remaining $39 million was in the form of assets and services contributed by the government. In 2020, the Shanghai government agreed to provide an additional $122 million of such incentives. Of the total incentives provided between both years, $123 million was received in cash in 2020. Proceeds from the grant must be spent on qualified capital investments at Gigafactory Shanghai as stipulated in the agreement. These incentives were taken as a reduction to property, plant and equipment, net, on the consolidated balance sheets and cash receipts are reflected as investing cash inflows on the consolidated statements of cash flows. Note 9-Accrued Liabilities and Other As of December 31, 2020 and 2019, accrued liabilities and other current liabilities consisted of the following (in millions) Accrued purchases (1) Taxes payable (2) Payroll and related costs Accrued warranty reserve, current portion Sales return reserve, current portion Operating lease liabilities, current portion Accrued interest Resale value guarantees, current portion Other current liabilities Total December 31, December 31, 2020 2019 901 $ 638 777 611 654 466 479 344 417 272 286 228 77 86 23 10317 241 260 3,855 3,222 (1) (2) Accrued purchases primarily reflects receipts of goods and services that we had not been invoiced yet. As we are invoiced for these goods and services, this balance will reduce and accounts payable will increase Taxes payable includes value added tax, sales tax, property tax, use tax and income tax payables Note 10-Other Long-Term Liabilities As of December 31, 2020 and 2019, other long-term habilities consisted of the following on millions) Operating lease liabilities Accrued warranty reserve Sales return reserve Deferred tax liability Resale value guarantees Other non-current liabilities Total other long-term liabilities December 31, 3020 December 31, 2019 1,254 909 956 745 500 545 151 60 19 36 417 343 3,330 2,691
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