# embeddings_queue

created_at: 2024-04-06 13:59:07
topic: persistent://default/default/19a10f6c-edf5-4774-8347-509021fad678
id: c5d5f490-f41d-11ee-a3fb-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "tesla-annual-reports/tsla-10k_20191231-gen_0.pdf", "page": 20, "chroma:document": "replacements\tfor\tcertain\thighly\tcustomized\tcomponents.\tAdditionally,\twe\tcontinuously\tnegotiate\twith\texisting\tsuppliers\tto\tobtain\tcost\treductions\tand\navoid\tunfavorable\tchanges\tto\tterms,\tseek\tnew\tand\tless\texpensive\tsuppliers\tfor\tcertain\tparts,\tand\tattempt\tto\tredesign\tcertain\tparts\tto\tmake\tthem\tless\nexpensive\tto\tproduce.\tIf\twe\tare\tunsuccessful\tin\tour\tefforts\tto\tcontrol\tand\treduce\tsupplier\tcosts,\tour\toperating\tresults\twill\tsuffer.\nOutside\tof\tthe\tU.S.,\twe\thave\tlimited\tmanufacturing\texperience\tand\twe\tmay\texperience\tissues\tor\tdelays\tincreasing\tthe\tlevel\tof\tlocalized\nprocurement\tat\tour\tGigafactory\tShanghai\tand\tin\tthe\tfuture\tat\tour\tGigafactory\tBerlin.\tFurthermore,\tas\tthe\tscale\tof\tour\tvehicle\tproduction\tincreases,\twe\nwill\tneed\tto\taccurately\tforecast,\tpurchase,\twarehouse\tand\ttransport\tcomponents\tto\tour\tmanufacturing\tfacilities\tand\tservicing\tlocations\tinternationally\nand\tat\tmuch\thigher\tvolumes.\tIf\twe\tare\tunable\tto\taccurately\tmatch\tthe\ttiming\tand\tquantities\tof\tcomponent\tpurchases\tto\tour\tactual\tneeds\tor\tsuccessfully\nimplement\tautomation,\tinventory\tmanagement\tand\tother\tsystems\tto\taccommodate\tthe\tincreased\tcomplexity\tin\tour\tsupply\tchain,\twe\tmay\tincur\nunexpected\tproduction\tdisruption,\tstorage,\ttransportation\tand\twrite-off\tcosts,\twhich\tcould\thave\ta\tmaterial\tadverse\teffect\ton\tour\tfinancial\tcondition\tand\noperating\tresults.\nAny\tproblems\tor\tdelays\tin\texpanding\tGigafactory\tNevada\tor\tramping\tand\tmaintaining\toperations\tthere\tcould\tnegatively\taffect\tthe\nproduction\tand\tprofitability\tof\tour\tproducts,\tsuch\tas\tModel\t3,\tModel\tY\tand\tour\tenergy\tstorage\tproducts.\tIn\taddition,\tthe\tbattery\ncells\tproduced\tthere\tstore\tlarge\tamounts\tof\tenergy."}


created_at: 2024-04-06 13:59:07
topic: persistent://default/default/19a10f6c-edf5-4774-8347-509021fad678
id: c5d5f4ea-f41d-11ee-a3fb-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "tesla-annual-reports/tsla-10k_20191231-gen_0.pdf", "page": 20, "chroma:document": "To\tlower\tthe\tcost\tof\tcell\tproduction\tand\tproduce\tcells\tin\thigh\tvolume,\twe\thave\tvertically\tintegrated\tthe\tproduction\tof\tlithium-ion\tcells\tat\nGigafactory\tNevada,\twhere\twe\talso\tmanufacture\tbattery\tpacks\tand\tdrive\tunits\tfor\tcertain\tvehicles\tand\tenergy\tstorage\tproducts\tand\tassemble\tour\nMegapack\tproduct.\tProduction\tof\tlithium-ion\tcells\tat\tGigafactory\tNevada\tbegan\tin\t2017,\tand\twe\thave\tno\tother\tdirect\texperience\tin\tthe\tproduction\tof\nlithium-ion\tcells.\tGiven\tthe\tsize\tand\tcomplexity\tof\tthis\tundertaking,\tit\tis\tpossible\tthat\tfuture\tevents\tcould\tresult\tin\tissues\tor\tdelays\tin\tfurther\tramping\nour\tproducts\tand\texpanding\tproduction\toutput\tat\tGigafactory\tNevada.\n18"}


created_at: 2024-04-06 13:59:07
topic: persistent://default/default/19a10f6c-edf5-4774-8347-509021fad678
id: c5d5f54e-f41d-11ee-a3fb-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "tesla-annual-reports/tsla-10k_20191231-gen_0.pdf", "page": 21, "chroma:document": "In\torder\tto\tachieve\tour\tvolume\tand\tgross\tmargin\ttargets\tfor\tour\tvehicles\tand\tenergy\tstorage\tproducts,\twe\tmust\tcontinue\tto\tsustain\tand\tramp\nsignificant\tcell\tproduction\tat\tGigafactory\tNevada,\twhich,\tamong\tother\tthings,\trequires\tPanasonic\tto\tsuccessfully\toperate\tand\tfurther\tramp\tits\tcell\nproduction\tlines\tat\tsignificant\tvolumes.\tAlthough\tPanasonic\thas\ta\tlong\ttrack\trecord\tof\tproducing\thigh-quality\tcells\tat\tsignificant\tvolume\tat\tits\tfactories\nin\tJapan,\tit\thas\trelatively\tlimited\texperience\twith\tcell\tproduction\tat\tGigafactory\tNevada.\tIn\taddition,\twe\tproduce\tseveral\tcomponents\tfor\tModel\t3\tand\nModel\tY,\tsuch\tas\tbattery\tmodules\tincorporating\tthe\tlithium-\nion\tcells\tproduced\tby\tPanasonic\n\tand\tdrive\tunits\t(including\tto\tsupport\tGigafactory\tShanghai\nproduction),\tat\tGigafactory\tNevada.\tSome\tof\tthe\tmanufacturing\tlines\tfor\tsuch\tcomponents\ttook\tlonger\tthan\tanticipated\tto\tramp\tto\ttheir\tfull\tcapacity.\nWhile\twe\thave\tlargely\tovercome\tthis\tbottleneck\tafter\tdeploying\tmultiple\tsemi-automated\tlines\tand\timproving\tour\toriginal\tlines,\tadditional\tbottlenecks\nmay\tarise\tas\twe\tcontinue\tto\tincrease\tthe\tproduction\trate\tand\tintroduce\tnew\tlines.\tIf\twe\tare\tunable\tto\tmaintain\tGigafactory\tNevada\tproduction,\tramp\noutput\tadditionally\tover\ttime\tas\tneeded,\tand\tdo\tso\tcost-effectively,\tor\tif\twe\n\tor\tPanasonic\tare\tunable\tto\t\nhire\tand\tretain\ta\tsubstantial\tnumber\tof\thighly\nskilled\tpersonnel,\tour\tability\tto\tsupply\tbattery\tpacks\tor\tother\tcomponents\tfor\tModel\t3,\tModel\tY\tand\tour\tother\tproducts\tcould\tbe\tnegatively\timpacted,\nwhich\tcould\tnegatively\taffect\tour\tbrand\tand\tharm\tour\tbusiness,\tprospects,\tfinancial\tcondition\tand\toperating\tresults."}


created_at: 2024-04-06 13:59:07
topic: persistent://default/default/19a10f6c-edf5-4774-8347-509021fad678
id: c5d5f5a8-f41d-11ee-a3fb-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "tesla-annual-reports/tsla-10k_20191231-gen_0.pdf", "page": 21, "chroma:document": "In\taddition,\tthe\thigh\tvolumes\tof\tlithium-ion\tcells\tand\tbattery\tmodules\tand\tpacks\tmanufactured\tat\tGigafactory\tNevada\tare\tstored\tand\trecycled\tat\nour\tvarious\tfacilities.\tAny\tmishandling\tof\tbattery\tcells\tmay\tcause\tdisruption\tto\tthe\toperation\tof\tsuch\tfacilities.\tWhile\twe\thave\timplemented\tsafety\nprocedures\trelated\tto\tthe\thandling\tof\tthe\tcells,\tthere\tcan\tbe\tno\tassurance\tthat\ta\tsafety\tissue\tor\tfire\trelated\tto\tthe\tcells\twould\tnot\tdisrupt\tour\toperations.\nSuch\tdisruptions\tor\tissues\tcould\tnegatively\taffect\tour\tbrand\tand\tharm\tour\tbusiness,\tprospects,\tfinancial\tcondition\tand\toperating\tresults.\nAny\tissues\tor\tdelays\tin\tmeeting\tour\tprojected\ttimelines,\tcosts\tand\tproduction\tat\tor\tfunding\tthe\tramp\tof\tGigafactory\tShanghai,\tor\nany\tdifficulties\tin\tgenerating\tand\tmaintaining\tlocal\tdemand\tfor\tvehicles\tmanufactured\tthere,\tcould\tadversely\timpact\tour\tbusiness,\nprospects,\toperating\tresults\tand\tfinancial\tcondition.\nAs\tpart\tof\tour\tcontinuing\twork\tto\tincrease\tproduction\tof\tour\tvehicles\ton\ta\tsustained\tbasis,\tand\tin\torder\tto\tmake\tthem\taffordable\tin\tinternational\nmarkets\tby\taccessing\tlocal\tsupply\tchains\tand\tworkforces,\twe\thave\testablished\tGigafactory\tShanghai\tin\tChina.\t\nCurrently,\twe\thave\tinstalled\tannual\nproduction\tcapacity\tfor\t150,000\tModel\t3\tvehicles\tthere\tthat\twe\tbelieve\twe\twill\teventually\tbe\table\tto\tpush\tto\tactual\trates\tof\tproduction\tin\texcess\tof\tsuch\nnumber\n,\tand\t\nwe\thave\tcommenced\tconstruction\tof\tthe\tnext\tphase\tof\tGigafactory\tShanghai\tto\tadd\tModel\tY\tmanufacturing\tcapacity\tat\tleast\tequivalent\tto\nthat\tfor\tModel\t3\n.\tThe\tramp\tand\tfurther\texpansion\tof\tGigafactory\tShanghai\tare\tsubject\tto\ta\tnumber\tof\tuncertainties\tinherent\tin\tall\tnew\tmanufacturing"}


created_at: 2024-04-06 13:59:07
topic: persistent://default/default/19a10f6c-edf5-4774-8347-509021fad678
id: c5d5f602-f41d-11ee-a3fb-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "tesla-annual-reports/tsla-10k_20191231-gen_0.pdf", "page": 21, "chroma:document": "operations,\tincluding\tongoing\tcompliance\twith\tregulatory\trequirements,\tmaintenance\tof\toperational\tlicenses\tand\tapprovals\tfor\tadditional\texpansion,\npotential\tsupply\tchain\tconstraints,\thiring,\ttraining\tand\tretention\tof\tqualified\temployees,\tand\tthe\tpace\tof\tbringing\tproduction\tequipment\tand\tprocesses\nonline\twith\tthe\tcapability\tto\tmanufacture\thigh-quality\tunits\tat\tscale.\tWe\thave\tlimited\texperience\tto\tdate\twith\toperating\tmanufacturing\tfacilities\tabroad,\nand\tonly\trecently\tbegan\tto\tsell\tModel\t3\tin\tChina.\tIf\twe\texperience\tany\tissues\tor\tdelays\tin\tmeeting\tour\tprojected\ttimelines,\tcosts,\tcapital\tefficiency\tand\nproduction\tcapacity\tfor\tGigafactory\tShanghai,\tor\tin\tmaintaining\tand\tcomplying\twith\tthe\tterms\tof\tlocal\tdebt\tfinancing\tthat\twe\tintend\twill\tlargely\tfund\tit,\nor\tin\tgenerating\tand\tmaintaining\tdemand\tlocally\tfor\tthe\tvehicles\twe\tmanufacture\tat\tGigafactory\tShanghai,\tour\tbusiness,\tprospects,\toperating\tresults\nand\tfinancial\tcondition\tcould\tbe\tadversely\timpacted.\nIn\tparticular,\tlocal\tmanufacturing\tis\tcritical\tto\tour\texpansion\tand\tsales\tin\tChina,\twhich\tis\tthe\tlargest\tmarket\tfor\telectric\tvehicles\tin\tthe\tworld.\nOur\tvehicle\tsales\tin\tChina\thave\tbeen\tnegatively\timpacted\tin\tthe\tpast\tby\tcertain\ttariffs\ton\tautomobiles\tmanufactured\tin\tthe\tU.S.,\tsuch\tas\tour\tvehicles,\nand\tour\tcosts\tfor\tproducing\tour\tvehicles\tin\tthe\tU.S.\thave\talso\tbeen\taffected\tby\timport\tduties\ton\tcertain\tcomponents\tsourced\tfrom\tChina.\tIf\twe\tare\tnot\nable\tto\tsuccessfully\tand\ttimely\tramp\tGigafactory\tShanghai,\twe\tmay\tcontinue\tto\tbe\texposed\tto\tthe\timpact\tof\tsuch\tunfavorable\ttariffs,\tduties\tor\tcosts\tto\nour\tdetriment\tcompared\tto\tlocally-based\tcompetitors.\n19"}


created_at: 2024-04-06 13:59:07
topic: persistent://default/default/19a10f6c-edf5-4774-8347-509021fad678
id: c5d5f65c-f41d-11ee-a3fb-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "tesla-annual-reports/tsla-10k_20191231-gen_0.pdf", "page": 22, "chroma:document": "We\tface\trisks\tassociated\twith\tour\tinternational\toperations,\tincluding\tunfavorable\tand\tuncertain\tregulatory,\tpolitical,\teconomic,\ntax\tand\tlabor\tconditions,\tand\twith\testablishing\tourselves\tin\tnew\tmarkets,\tall\tof\twhich\tcould\tharm\tour\tbusiness.\nWe\thave\ta\tglobal\tfootprint\twith\tdomestic\tand\tinternational\toperations\tand\tsubsidiaries.\tAccordingly,\twe\tare\tsubject\tto\ta\tvariety\tof\tlegal,\npolitical\tand\tregulatory\trequirements\tand\tsocial,\tenvironmental\tand\teconomic\tconditions\tover\twhich\twe\thave\tlittle\tcontrol.\tFor\texample,\twe\tmay\tbe\nimpacted\tby\ttrade\tpolicies,\tenvironmental\tconditions,\tpolitical\tuncertainty\tand\teconomic\tcycles\tinvolving\tgeographic\tregions\twhere\twe\thave\tsignificant\noperations,\twhich\tare\tinherently\tunpredictable.\tWe\tare\tsubject\tto\ta\tnumber\tof\trisks\tassociated\tin\tparticular\twith\tinternational\tbusiness\tactivities\tthat\nmay\tincrease\tour\tcosts,\timpact\tour\tability\tto\tsell\tour\tproducts\tand\trequire\tsignificant\tmanagement\tattention.\tThese\trisks\tinclude\tconforming\tour\nproducts\tto\tvarious\tinternational\tregulatory\tand\tsafety\trequirements\tas\twell\tas\tcharging\tand\tother\telectric\tinfrastructures,\torganizing\tlocal\toperating\nentities,\tdifficulty\tin\testablishing,\tstaffing\tand\tmanaging\tforeign\toperations,\tchallenges\tin\tattracting\tcustomers,\tforeign\tgovernment\ttaxes,\tregulations\nand\tpermit\trequirements,\tour\tability\tto\tenforce\tour\tcontractual\trights,\ttrade\trestrictions,\tcustoms\tregulations,\ttariffs\tand\tprice\tor\texchange\tcontrols,\nand\tpreferences\tof\tforeign\tnations\tfor\tdomestically\tmanufactured\tproducts.\nIncreases\tin\tcosts,\tdisruption\tof\tsupply\tor\tshortage\tof\tmaterials,\tin\tparticular\tfor\tlithium-ion\tcells,\tcould\tharm\tour\tbusiness.\nWe\tmay\texperience\tincreases\tin\tthe\tcost\tof\tor\ta\tsustained\tinterruption\tin\tthe\tsupply\tor\tshortage\tof\tmaterials.\tAny\tsuch\tincrease,\tsupply"}


created_at: 2024-04-06 13:59:07
topic: persistent://default/default/19a10f6c-edf5-4774-8347-509021fad678
id: c5d5f6b6-f41d-11ee-a3fb-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "tesla-annual-reports/tsla-10k_20191231-gen_0.pdf", "page": 22, "chroma:document": "interruption\tor\tshortage\tcould\tmaterially\tand\tnegatively\timpact\tour\tbusiness,\tprospects,\tfinancial\tcondition\tand\toperating\tresults.\tWe\tuse\tvarious\nmaterials\tin\tour\tbusiness\tincluding\taluminum,\tsteel,\tlithium,\tnickel,\tcopper\tand\tcobalt,\tas\twell\tas\tlithium-ion\tcells\tfrom\tsuppliers.\tThe\tprices\tfor\tthese\nmaterials\tfluctuate,\tand\ttheir\tavailable\tsupply\tmay\tbe\tunstable,\tdepending\ton\tmarket\tconditions\tand\tglobal\tdemand\tfor\tthese\tmaterials,\tincluding\tas\ta\nresult\tof\tincreased\tproduction\tof\telectric\tvehicles\tand\tenergy\tstorage\tproducts\tby\tour\tcompetitors,\tand\tcould\tadversely\taffect\tour\tbusiness\tand\noperating\tresults.\tFor\tinstance,\twe\tare\texposed\tto\tmultiple\trisks\trelating\tto\tlithium-ion\tcells.\tThese\trisks\tinclude:\n\t\n\u2022\nan\tincrease\tin\tthe\tcost,\tor\tdecrease\tin\tthe\tavailable\tsupply,\tof\tmaterials\tused\tin\tthe\tcells;\n\t\n\u2022\ndisruption\tin\tthe\tsupply\tof\tcells\tdue\tto\tquality\tissues\tor\trecalls\tby\tbattery\tcell\tmanufacturers\tor\tany\tissues\tthat\tmay\tarise\twith\trespect\nto\tcells\tmanufactured\tat\tour\town\tfacilities;\tand\n\t\n\u2022\nfluctuations\tin\tthe\tvalue\tof\tany\tforeign\tcurrencies\tin\twhich\tbattery\tcell\tand\trelated\traw\tmaterial\tpurchases\tare\tor\tmay\tbe\tdenominated,\nsuch\tas\tthe\tJapanese\tyen,\tagainst\tthe\tU.S.\tdollar.\t\nOur\tbusiness\tis\tdependent\ton\tthe\tcontinued\tsupply\tof\tbattery\tcells\tfor\tthe\tbattery\tpacks\tused\tin\tour\tvehicles\tand\tenergy\tstorage\tproducts.\nWhile\twe\tbelieve\tseveral\tsources\tof\tthe\tbattery\tcells\tare\tavailable\tfor\tsuch\tbattery\tpacks,\tand\texpect\tto\teventually\trely\tsubstantially\ton\tbattery\tcells\nmanufactured\tat\tour\town\tfacilities,\twe\thave\tto\tdate\tfully\tqualified\tonly\ta\tvery\tlimited\tnumber\tof\tsuppliers\tfor\tthe\tcells\tused\tin\tsuch\tbattery\tpacks\tand"}


created_at: 2024-04-06 13:59:07
topic: persistent://default/default/19a10f6c-edf5-4774-8347-509021fad678
id: c5d5f710-f41d-11ee-a3fb-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "tesla-annual-reports/tsla-10k_20191231-gen_0.pdf", "page": 22, "chroma:document": "have\tvery\tlimited\tflexibility\tin\tchanging\tcell\tsuppliers.\tAny\tdisruption\tin\tthe\tsupply\tof\tbattery\tcells\tfrom\tsuch\tsuppliers\tcould\tdisrupt\tproduction\tof\tour\nvehicles\tand\tof\tthe\tbattery\tpacks\twe\tproduce\tfor\tenergy\tproducts\tuntil\tsuch\ttime\tas\ta\tdifferent\tsupplier\tis\tfully\tqualified.\tFurthermore,\tfluctuations\tor\nshortages\tin\tpetroleum\tand\tother\teconomic\tconditions\tmay\tcause\tus\tto\texperience\tsignificant\tincreases\tin\tfreight\tcharges\tand\tmaterial\tcosts.\nSubstantial\tincreases\tin\tthe\tprices\tfor\tour\tmaterials\tor\tprices\tcharged\tto\tus,\tsuch\tas\tthose\tcharged\tby\tbattery\tcell\tsuppliers,\twould\tincrease\tour\noperating\tcosts,\tand\tcould\treduce\tour\tmargins\tif\twe\tcannot\trecoup\tthe\tincreased\tcosts\tthrough\tincreased\tvehicle\tprices.\tAny\tattempts\tto\tincrease\nproduct\tprices\tin\tresponse\tto\tincreased\tmaterial\tcosts\tcould\tresult\tin\tcancellations\tof\torders\tand\treservations\tand\ttherefore\tmaterially\tand\tadversely\naffect\tour\tbrand,\timage,\tbusiness,\tprospects\tand\toperating\tresults.\n20"}


created_at: 2024-04-06 13:59:07
topic: persistent://default/default/19a10f6c-edf5-4774-8347-509021fad678
id: c5d5f774-f41d-11ee-a3fb-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "tesla-annual-reports/tsla-10k_20191231-gen_0.pdf", "page": 23, "chroma:document": "If\tour\tvehicles\tor\tother\tproducts\tthat\twe\tsell\tor\tinstall\tfail\tto\tperform\tas\texpected,\tour\tability\tto\tdevelop,\tmarket\tand\tsell\tour\nproducts\tand\tservices\tcould\tbe\tharmed.\nIf\tour\tvehicles\tor\tour\tenergy\tproducts\tcontain\tdefects\tin\tdesign\tand\tmanufacture\tthat\tcause\tthem\tnot\tto\tperform\tas\texpected\tor\tthat\trequire\nrepair,\tor\tcertain\tfeatures\tof\tour\tvehicles\tsuch\tas\tnew\tAutopilot\tor\tFSD\tfeatures\ttake\tlonger\tthan\texpected\tto\tbecome\tenabled,\tare\tlegally\trestricted\tor\nbecome\tsubject\tto\tonerous\tregulation,\tour\tability\tto\tdevelop,\tmarket\tand\tsell\tour\tproducts\tand\tservices\tcould\tbe\tharmed.\tFor\texample,\tthe\toperation\tof\nour\tvehicles\tis\thighly\tdependent\ton\tsoftware,\twhich\tis\tinherently\tcomplex\tand\tmay\tcontain\tlatent\tdefects\tand\terrors\tor\tbe\tsubject\tto\texternal\tattacks.\nIssues\texperienced\tby\tvehicle\tcustomers\thave\tincluded\tthose\trelated\tto\tthe\tsoftware\tfor\tthe\t17\tinch\tdisplay\tscreen,\tas\twell\tas\tthe\tpanoramic\troof\tand\nthe\t12-volt\tbattery\tin\tthe\tModel\tS\tand\tthe\tseats\tand\tdoors\tin\tthe\tModel\tX.\tAlthough\twe\tattempt\tto\tremedy\tany\tissues\twe\tobserve\tin\tour\tproducts\tas\neffectively\tand\trapidly\tas\tpossible,\tsuch\tefforts\tmay\tnot\tbe\ttimely,\tmay\thamper\tproduction\tor\tmay\tnot\tbe\tto\tthe\tsatisfaction\tof\tour\tcustomers.\tWhile\twe\nhave\tperformed\textensive\tinternal\ttesting\ton\tthe\tproducts\twe\tmanufacture,\twe\tcurrently\thave\ta\tlimited\tframe\tof\treference\tby\twhich\tto\tevaluate\tdetailed\nlong-term\tquality,\treliability,\tdurability\tand\tperformance\tcharacteristics\tof\tour\tbattery\tpacks,\tpowertrains,\tvehicles\tand\tenergy\tstorage\tproducts.\tThere\ncan\tbe\tno\tassurance\tthat\twe\twill\tbe\table\tto\tdetect\tand\tfix\tany\tdefects\tin\tour\tproducts\tprior\tto\ttheir\tsale\tto\tor\tinstallation\tfor\tcustomers."}


created_at: 2024-04-06 13:59:07
topic: persistent://default/default/19a10f6c-edf5-4774-8347-509021fad678
id: c5d5f7ce-f41d-11ee-a3fb-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "tesla-annual-reports/tsla-10k_20191231-gen_0.pdf", "page": 23, "chroma:document": "Any\tproduct\tdefects,\tdelays\tor\tlegal\trestrictions\ton\tproduct\tfeatures,\tor\tother\tfailure\tof\tour\tproducts\tto\tperform\tas\texpected,\tcould\tharm\tour\nreputation\tand\tresult\tin\tdelivery\tdelays,\tproduct\trecalls,\tproduct\tliability\tclaims,\tbreach\tof\twarranty\tclaims,\tand\tsignificant\twarranty\tand\tother\nexpenses,\tand\tcould\thave\ta\tmaterial\tadverse\timpact\ton\tour\tbusiness,\tfinancial\tcondition,\toperating\tresults\tand\tprospects.\nWe\tmay\tbecome\tsubject\tto\tproduct\tliability\tclaims,\twhich\tcould\tharm\tour\tfinancial\tcondition\tand\tliquidity\tif\twe\tare\tnot\table\tto\nsuccessfully\tdefend\tor\tinsure\tagainst\tsuch\tclaims.\nAlthough\twe\tdesign\tour\tvehicles\tto\tbe\tthe\tsafest\tvehicles\ton\tthe\troad,\tproduct\tliability\tclaims,\teven\tthose\twithout\tmerit,\tcould\tharm\tour\nbusiness,\tprospects,\toperating\tresults\tand\tfinancial\tcondition.\tThe\tautomobile\tindustry\tin\tparticular\texperiences\tsignificant\tproduct\tliability\tclaims\tand\nwe\tface\tinherent\trisk\tof\texposure\tto\tclaims\tin\tthe\tevent\tour\tvehicles\tdo\tnot\tperform\tor\tare\tclaimed\tto\tnot\thave\tperformed\tas\texpected.\tAs\tis\ttrue\tfor\nother\tautomakers,\tour\tvehicles\thave\tbeen\tinvolved\tand\twe\texpect\tin\tthe\tfuture\twill\tbe\tinvolved\tin\tcrashes\tresulting\tin\tdeath\tor\tpersonal\tinjury,\tand\tsuch\ncrashes\twhere\tAutopilot\tor\tFSD\tfeatures\tare\tengaged\tare\tthe\tsubject\tof\tsignificant\tpublic\tattention.\tWe\thave\texperienced\tand\twe\texpect\tto\tcontinue\tto\nface\tclaims\tarising\tfrom\tor\trelated\tto\tmisuse\tor\tclaimed\tfailures\tof\tnew\ttechnologies\tthat\twe\tare\tpioneering,\tincluding\tAutopilot\tand\tFSD\tfeatures\tin\tour\nvehicles.\tIn\taddition,\tthe\tbattery\tpacks\tthat\twe\tproduce\tmake\tuse\tof\tlithium-ion\tcells.\tOn\trare\toccasions,\tlithium-ion\tcells\tcan\trapidly\trelease\tthe\tenergy"}


created_at: 2024-04-06 13:59:07
topic: persistent://default/default/19a10f6c-edf5-4774-8347-509021fad678
id: c5d5f828-f41d-11ee-a3fb-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "tesla-annual-reports/tsla-10k_20191231-gen_0.pdf", "page": 23, "chroma:document": "they\tcontain\tby\tventing\tsmoke\tand\tflames\tin\ta\tmanner\tthat\tcan\tignite\tnearby\tmaterials\tas\twell\tas\tother\tlithium-ion\tcells.\tWhile\twe\thave\tdesigned\tthe\nbattery\tpack\tto\tpassively\tcontain\tany\tsingle\tcell\u2019s\trelease\tof\tenergy\twithout\tspreading\tto\tneighboring\tcells,\tthere\tcan\tbe\tno\tassurance\tthat\ta\tfield\tor\ntesting\tfailure\tof\tour\tvehicles\tor\tother\tbattery\tpacks\tthat\twe\tproduce\twill\tnot\toccur,\tin\tparticular\tdue\tto\ta\thigh-speed\tcrash,\twhich\tcould\tsubject\tus\tto\nlawsuits,\tproduct\trecalls\tor\tredesign\tefforts,\tall\tof\twhich\twould\tbe\ttime\tconsuming\tand\texpensive.\nMoreover,\tas\tour\tsolar\tenergy\tsystems\tand\tenergy\tstorage\tproducts\tgenerate\tand\tstore\telectricity,\tthey\thave\tthe\tpotential\tto\tcause\tinjury\tto\npeople\tor\tproperty.\tA\tsuccessful\tproduct\tliability\tclaim\tagainst\tus\tcould\trequire\tus\tto\tpay\ta\tsubstantial\tmonetary\taward.\tOur\trisks\tin\tthis\tarea\tare\nparticularly\tpronounced\tgiven\tthe\trelatively\tlimited\tnumber\tof\tvehicles\tand\tenergy\tstorage\tproducts\tdelivered\tto\tdate\tand\tlimited\tfield\texperience\tof\nour\tproducts.\tMoreover,\ta\tproduct\tliability\tclaim\tcould\tgenerate\tsubstantial\tnegative\tpublicity\tabout\tour\tproducts\tand\tbusiness\tand\tcould\thave\ta\nmaterial\tadverse\teffect\ton\tour\tbrand,\tbusiness,\tprospects\tand\toperating\tresults.\tIn\tmost\tjurisdictions,\twe\tgenerally\tself-insure\tagainst\tthe\trisk\tof\nproduct\tliability\tclaims\tfor\tvehicle\texposure,\tmeaning\tthat\tany\tproduct\tliability\tclaims\twill\tlikely\thave\tto\tbe\tpaid\tfrom\tcompany\tfunds,\tnot\tby\tinsurance.\n21"}


created_at: 2024-04-06 13:59:07
topic: persistent://default/default/19a10f6c-edf5-4774-8347-509021fad678
id: c5d5f882-f41d-11ee-a3fb-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "tesla-annual-reports/tsla-10k_20191231-gen_0.pdf", "page": 24, "chroma:document": "The\tmarkets\tin\twhich\twe\toperate\tare\thighly\tcompetitive,\tand\twe\tmay\tnot\tbe\tsuccessful\tin\tcompeting\tin\tthese\tindustries.\tWe\ncurrently\tface\tcompetition\tfrom\tnew\tand\testablished\tdomestic\tand\tinternational\tcompetitors\tand\texpect\tto\tface\tcompetition\tfrom\nothers\tin\tthe\tfuture,\tincluding\tcompetition\tfrom\tcompanies\twith\tnew\ttechnology.\nThe\tworldwide\tautomotive\tmarket,\tparticularly\tfor\talternative\tfuel\tvehicles,\tis\thighly\tcompetitive\ttoday\tand\twe\texpect\tit\twill\tbecome\teven\tmore\nso\tin\tthe\tfuture.\tThere\tis\tno\tassurance\tthat\tour\tvehicles\twill\tbe\tsuccessful\tin\tthe\trespective\tmarkets\tin\twhich\tthey\tcompete.\tA\tsignificant\tand\tgrowing\nnumber\tof\testablished\tand\tnew\tautomobile\tmanufacturers,\tas\twell\tas\tother\tcompanies,\thave\tentered\tor\tare\treported\tto\thave\tplans\tto\tenter\tthe\nalternative\tfuel\tvehicle\tmarket,\tincluding\thybrid,\tplug-in\thybrid\tand\tfully\telectric\tvehicles,\tas\twell\tas\tthe\tmarket\tfor\tself-driving\ttechnology\tand\napplications.\tIn\tsome\tcases,\tsuch\tcompetitors\thave\tannounced\tan\tintention\tto\tproduce\telectric\tvehicles\texclusively\tat\tsome\tpoint\tin\tthe\tfuture.\tMost\tof\nour\tcurrent\tand\tpotential\tcompetitors\thave\tsignificantly\tgreater\tfinancial,\ttechnical,\tmanufacturing,\tmarketing,\tvehicle\tsales\tresources\tand\tnetworks\nthan\twe\tdo\tand\tmay\tbe\table\tto\tdevote\tgreater\tresources\tto\tthe\tdesign,\tdevelopment,\tmanufacturing,\tdistribution,\tpromotion,\tsale\tand\tsupport\tof\ttheir\nproducts.\t\tIn\tparticular,\tsome\tcompetitors\thave\talso\tannounced\tplans\tto\tcompete\twith\tus\tin\timportant\tand\tlarge\tmarkets\tfor\telectric\tvehicles,\tsuch\tas\nChina\tand\tin\tEurope.\tIncreased\tcompetition\tcould\tresult\tin\tlower\tvehicle\tunit\tsales,\tprice\treductions,\trevenue\tshortfalls,\tloss\tof\tcustomers\tand\tloss\tof"}


created_at: 2024-04-06 13:59:07
topic: persistent://default/default/19a10f6c-edf5-4774-8347-509021fad678
id: c5d5f8dc-f41d-11ee-a3fb-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "tesla-annual-reports/tsla-10k_20191231-gen_0.pdf", "page": 24, "chroma:document": "market\tshare,\twhich\tcould\tharm\tour\tbusiness,\tprospects,\tfinancial\tcondition\tand\toperating\tresults.\tIn\taddition,\tModel\t3\tand\tModel\tY\tface\tcompetition\nfrom\texisting\tand\tfuture\tautomobile\tmanufacturers\tin\tthe\textremely\tcompetitive\tentry-level\tpremium\tsedan\tand\tcompact\tSUV\tmarket,\tincluding\tBMW,\nFord,\tLexus,\tMercedes\tand\tVolkswagen\tGroup.\nThe\tsolar\tand\tenergy\tstorage\tindustries\tare\thighly\tcompetitive.\tWe\tface\tcompetition\tfrom\tother\tmanufacturers,\tdevelopers\tand\tinstallers\tof\nsolar\tand\tenergy\tstorage\tsystems,\tas\twell\tas\tfrom\tlarge\tutilities.\tDecreases\tin\tthe\tretail\tprices\tof\telectricity\tfrom\tutilities\tor\tother\trenewable\tenergy\nsources\tcould\tmake\tour\tproducts\tless\tattractive\tto\tcustomers\tand\tlead\tto\tan\tincreased\trate\tof\tcustomer\tdefaults\tunder\tour\texisting\tlong-term\tleases\tand\nPPAs.\tMoreover,\tprices\tfor\tsolar\tproduct\tcomponents\tand\tprices\tper\tkWh\tfor\tlithium-ion\tbattery\tcells\thave\tdeclined\tand\tmay\tcontinue\tto\tdecline,\twhich\nmay\tadversely\timpact\tour\tability\tto\tcost-effectively\tmanufacture\tsuch\tcomponents\tourselves.\nIf\twe\tare\tunable\tto\testablish\tand\tmaintain\tconfidence\tin\tour\tlong-term\tbusiness\tprospects\tamong\tconsumers,\tanalysts\tand\twithin\nour\tindustries,\tor\tare\tsubject\tto\tnegative\tpublicity,\tthen\tour\tfinancial\tcondition,\toperating\tresults,\tbusiness\tprospects\tand\taccess\nto\tcapital\tmay\tsuffer\tmaterially.\nConsumers\tmay\tbe\tless\tlikely\tto\tpurchase\tour\tproducts\tif\tthey\tare\tnot\tconvinced\tthat\tour\tbusiness\twill\tsucceed\tor\tthat\tour\tservice\tand\tsupport\nand\tother\toperations\twill\tcontinue\tin\tthe\tlong\tterm.\tSimilarly,\tsuppliers\tand\tother\tthird\tparties\twill\tbe\tless\tlikely\tto\tinvest\ttime\tand\tresources\tin"}


created_at: 2024-04-06 13:59:07
topic: persistent://default/default/19a10f6c-edf5-4774-8347-509021fad678
id: c5d5f936-f41d-11ee-a3fb-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "tesla-annual-reports/tsla-10k_20191231-gen_0.pdf", "page": 24, "chroma:document": "developing\tbusiness\trelationships\twith\tus\tif\tthey\tare\tnot\tconvinced\tthat\tour\tbusiness\twill\tsucceed.\tAccordingly,\tin\torder\tto\tbuild\tand\tmaintain\tour\nbusiness,\twe\tmust\tmaintain\tconfidence\tamong\tcustomers,\tsuppliers,\tanalysts,\tratings\tagencies\tand\tother\tparties\tin\tour\tlong-term\tfinancial\tviability\tand\nbusiness\tprospects.\tMaintaining\tsuch\tconfidence\tmay\tbe\tparticularly\tcomplicated\tby\tcertain\tfactors\tincluding\tthose\tthat\tare\tlargely\toutside\tof\tour\ncontrol,\tsuch\tas\tour\tlimited\toperating\thistory,\tcustomer\tunfamiliarity\twith\tour\tproducts,\tany\tdelays\tin\tscaling\tmanufacturing,\tdelivery\tand\tservice\noperations\tto\tmeet\tdemand,\tcompetition\tand\tuncertainty\tregarding\tthe\tfuture\tof\telectric\tvehicles\tor\tour\tother\tproducts\tand\tservices,\tand\tour\tquarterly\nproduction\tand\tsales\tperformance\tcompared\twith\tmarket\texpectations.\nIn\tparticular,\tTesla\u2019s\tproducts,\tbusiness,\tresults\tof\toperations,\tstatements\tand\tactions\tare\twell-publicized\tby\ta\trange\tof\tthird\tparties.\tSuch\nattention\tincludes\tfrequent\tcriticism,\twhich\tis\toften\texaggerated\tor\tunfounded,\tsuch\tas\tspeculation\tregarding\tthe\tsufficiency\tor\tstability\tof\tour\nmanagement\tteam.\tAny\tsuch\tnegative\tperceptions,\twhether\tcaused\tby\tus\tor\tnot,\tcould\tharm\tour\tbusiness\tand\tmake\tit\tmore\tdifficult\tto\traise\tadditional\nfunds\tif\tneeded.\n22"}


created_at: 2024-04-06 13:59:07
topic: persistent://default/default/19a10f6c-edf5-4774-8347-509021fad678
id: c5d5f99a-f41d-11ee-a3fb-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "tesla-annual-reports/tsla-10k_20191231-gen_0.pdf", "page": 25, "chroma:document": "If\twe\tfail\tto\teffectively\tgrow\tand\tmanage\tthe\tresidual,\tfinancing\tand\tcredit\trisks\trelated\tto\tour\tvehicle\tfinancing\tprograms,\tour\nbusiness\tmay\tsuffer.\nWe\toffer\tfinancing\tarrangements\tfor\tour\tvehicles\tin\tNorth\tAmerica,\tEurope\tand\tAsia\tprimarily\tthrough\tvarious\tfinancial\tinstitutions.\tWe\talso\ncurrently\toffer\tleasing\tdirectly\tthrough\tour\tlocal\tsubsidiaries\tfor\tModel\tS,\tModel\tX\tand\tModel\t3\tin\tthe\tU.S.\tand\tfor\tModel\tS\tand\tModel\tX\tin\tCanada.\nUnder\ta\tlease\theld\tdirectly\tby\tus,\twe\ttypically\treceive\tonly\ta\tvery\tsmall\tportion\tof\tthe\ttotal\tvehicle\tpurchase\tprice\tat\tthe\ttime\tof\tlease,\tfollowed\tby\ta\nstream\tof\tpayments\tover\tthe\tterm\tof\tthe\tlease.\tThe\tprofitability\tof\tany\tvehicles\treturned\tto\tus\tat\tthe\tend\tof\ttheir\tleases\tdepends\ton\tour\tability\tto\naccurately\tproject\tour\tvehicles\u2019\tresidual\tvalues\tat\tthe\toutset\tof\tthe\tleases,\tand\tsuch\tvalues\tmay\tfluctuate\tprior\tto\tthe\tend\tof\ttheir\tterms\tdepending\ton\nvarious\tfactors\tsuch\tas\tsupply\tand\tdemand\tof\tour\tused\tvehicles,\teconomic\tcycles\tand\tthe\tpricing\tof\tnew\tvehicles.\tFor\texample,\twe\tmade\tcertain\nadjustments\tto\tour\tvehicle\tprices\tduring\t2019\tto\treflect\tanticipated\tchanges\tto\tour\tcost\tstructure\tfrom\tperiodically\toptimizing\tour\tretail\tstrategy,\tand\nas\ta\tlimited\taccommodation\tto\tcustomers\tin\tconsideration\tof\ta\treduction\tin\tthe\telectric\tvehicle\tfederal\ttax\tcredit.\tSuch\tpricing\tchanges\tmay\timpact\tthe\nresidual\tvalues\tof\tour\tvehicles.\tThe\tleasing\tprogram\talso\trelies\ton\tour\tability\tto\tsecure\tadequate\tfinancing\tand/or\tbusiness\tpartners\tto\tfund\tand\tgrow\nthis\tprogram,\tand\tscreen\tfor\tand\tmanage\tcustomer\tcredit\trisk.\tWe\texpect\tthe\tavailability\tof\tleasing\tand\tother\tfinancing\toptions\twill\tbe\timportant\tfor\tour"}


created_at: 2024-04-06 13:59:07
topic: persistent://default/default/19a10f6c-edf5-4774-8347-509021fad678
id: c5d5f9ea-f41d-11ee-a3fb-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "tesla-annual-reports/tsla-10k_20191231-gen_0.pdf", "page": 25, "chroma:document": "vehicle\tcustomers.\tIf\twe\tare\tunable\tto\tadequately\tfund\tour\tleasing\tprogram\twith\tinternal\tfunds,\tor\tpartners\tor\tother\texternal\tfinancing\tsources,\tand\ncompelling\talternative\tfinancing\tprograms\tare\tnot\tavailable\tfor\tour\tcustomers,\twe\tmay\tbe\tunable\tto\tgrow\tour\tdeliveries.\tFurthermore,\tif\tour\tleasing\nbusiness\tgrows\tsubstantially,\tour\tbusiness\tmay\tsuffer\tif\twe\tcannot\teffectively\tmanage\tthe\tgreater\tlevels\tof\tresidual\tand\tcredit\trisks\tresulting\tfrom\ngrowth.\tFinally,\tif\twe\tdo\tnot\tsuccessfully\tmonitor\tand\tcomply\twith\tapplicable\tnational,\tstate\tand/or\tlocal\tfinancial\tregulations\tand\tconsumer\tprotection\nlaws\tgoverning\tlease\ttransactions,\twe\tmay\tbecome\tsubject\tto\tenforcement\tactions\tor\tpenalties,\teither\tof\twhich\tmay\tharm\tour\tbusiness.\nMoreover,\twe\thave\tprovided\tresale\tvalue\tguarantees\tto\tcustomers\tand\tpartners\tfor\tcertain\tfinancing\tprograms,\tunder\twhich\tsuch\ncounterparties\tmay\tsell\ttheir\tvehicles\tback\tto\tus\tat\tcertain\tpoints\tin\ttime\tat\tpre-determined\tamounts.\tHowever,\tactual\tresale\tvalues,\tas\twith\tresidual\nvalues\tfor\tleased\tvehicles,\tare\tsubject\tto\tsimilar\tfluctuations\tover\tthe\tterm\tof\tthe\tfinancing\tarrangements,\tsuch\tas\tfrom\tthe\tvehicle\tpricing\tchanges\ndiscussed\tabove.\tIf\tthe\tactual\tresale\tvalues\tof\tany\tvehicles\tresold\tor\treturned\tto\tus\tpursuant\tto\tthese\tprograms\tare\tmaterially\tlower\tthan\tthe\tpre-\ndetermined\tamounts\twe\thave\toffered,\tour\toperating\tresults,\tprofitability\tand/or\tliquidity\tcould\tbe\tnegatively\timpacted.\nThe\tunavailability,\treduction\tor\telimination\tof,\tor\tunfavorable\tdeterminations\twith\trespect\tto,\tgovernment\tand\teconomic\nincentives\tin\tthe\tU.S.\tand\tabroad\tsupporting\tthe\tdevelopment\tand\tadoption\tof\telectric\tvehicles,\tenergy\tstorage\tproducts\tor\tsolar\nenergy\tcould\thave\tsome\timpact\ton\tdemand\tfor\tour\tproducts\tand\tservices."}


created_at: 2024-04-06 13:59:07
topic: persistent://default/default/19a10f6c-edf5-4774-8347-509021fad678
id: c5d5fb20-f41d-11ee-a3fb-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "tesla-annual-reports/tsla-10k_20191231-gen_0.pdf", "page": 25, "chroma:document": "We\tand\tour\tcustomers\tcurrently\tbenefit\tfrom\tcertain\tgovernment\tand\teconomic\tincentives\tsupporting\tthe\tdevelopment\tand\tadoption\tof\telectric\nvehicles.\tIn\tthe\tU.S.\tand\tabroad,\tsuch\tincentives\tinclude\ttax\tcredits\tor\trebates\tthat\tencourage\tthe\tpurchase\tof\telectric\tvehicles.\tSpecific\tpolicies\tin\nplace\taround\tthe\tworld\tinclude\texempting\tthe\tpurchase\tof\telectric\tvehicles\tfrom\timport\ttaxes,\tvalue\tadded\ttaxes,\tor\tcarbon\tdioxide\tand\tweight-based\npurchase\ttaxes.\tSuch\tprograms\tcould\tbe\treduced,\teliminated\tor\texhausted.\tFor\texample,\tunder\tcurrent\tregulations,\ta\t$7,500\tfederal\ttax\tcredit\tthat\twas\navailable\tin\tthe\tU.S.\tfor\tthe\tpurchase\tof\tour\tvehicles\twas\treduced\tin\tphases\tduring\t2019\tand\tended\ton\tDecember\t31,\t2019.\tWe\tbelieve\tthat\tthis\nsequential\tphase-out\tlikely\tpulled\tforward\tsome\tvehicle\tdemand\tinto\tthe\tperiods\tpreceding\teach\treduction.\tMoreover,\tin\tJuly\t2018,\ta\tpreviously\navailable\tincentive\tfor\tpurchases\tof\tModel\t3\tin\tOntario,\tCanada\twas\tcancelled\tand\tTesla\tbuyers\tin\tGermany\tlost\taccess\tto\telectric\tvehicle\tincentives\tfor\na\tshort\tperiod\tof\ttime\tbeginning\tlate\t2017.\tIn\tApril\t2017\tand\tJanuary\t2016,\trespectively,\tpreviously\tavailable\tincentives\tin\tHong\tKong\tand\tDenmark\nthat\tfavored\tthe\tpurchase\tof\telectric\tvehicles\texpired,\tnegatively\timpacting\tsales.\tEffective\tMarch\t2016,\tCalifornia\timplemented\tregulations\tphasing\tout\na\t$2,500\tcash\trebate\ton\tqualified\telectric\tvehicles\tfor\thigh-income\tconsumers.\tSuch\tdevelopments\tcould\thave\tsome\tnegative\timpact\ton\tdemand\tfor\tour\nvehicles,\tand\twe\tand\tour\tcustomers\tmay\thave\tto\tadjust\tto\tthem.\n23"}


created_at: 2024-04-06 13:59:07
topic: persistent://default/default/19a10f6c-edf5-4774-8347-509021fad678
id: c5d5fbc0-f41d-11ee-a3fb-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "tesla-annual-reports/tsla-10k_20191231-gen_0.pdf", "page": 26, "chroma:document": "In\taddition,\tcertain\tgovernmental\trebates,\ttax\tcredits\tand\tother\tfinancial\tincentives\tthat\tare\tcurrently\tavailable\twith\trespect\tto\tour\tsolar\tand\nenergy\tstorage\tproduct\tbusinesses\tallow\tus\tto\tlower\tour\tcosts\tand\tencourage\tcustomers\tto\tbuy\tour\tproducts\tand\tinvestors\tto\tinvest\tin\tour\tsolar\nfinancing\tfunds.\tHowever,\tthese\tincentives\tmay\texpire\ton\ta\tparticular\tdate\twhen\tthe\tallocated\tfunding\tis\texhausted,\treduced\tor\tterminated\tas\nrenewable\tenergy\tadoption\trates\tincrease,\tsometimes\twithout\twarning.\tFor\texample,\tthe\tU.S.\tfederal\tgovernment\tcurrently\toffers\tan\tinvestment\ttax\ncredit\t(ITC)\tfor\tthe\tinstallation\tof\tsolar\tpower\tfacilities\tand\tenergy\tstorage\tsystems\tthat\tare\tcharged\tfrom\ta\tco-sited\tsolar\tpower\tfacility;\thowever,\tthe\nITC\tis\tcurrently\tschedul\ned\tto\tdecline\tin\tphases,\tfrom\t26\n%\tfor\tqualifying\tsolar\tsystems\tfor\twhich\tconstru\nction\tbegan\tby\tDecember\t31,\t2020\n,\tto\t10%\tfor\ncommercial\tand\tutility\tsystems\tand\tto\t0%\tfor\tcustomer-owned\tresidential\tsystems\tfor\twhich\tconstruction\tbegins\tafter\tDecember\t31,\t2021.\tLikewise,\tin\njurisdictions\twhere\tnet\tenergy\tmetering\tis\tcurrently\tavailable,\tour\tcustomers\treceive\tbill\tcredits\tfrom\tutilities\tfor\tenergy\tthat\ttheir\tsolar\tenergy\tsystems\ngenerate\tand\texport\tto\tthe\tgrid\tin\texcess\tof\tthe\telectric\tload\tthey\tuse.\tSeveral\tjurisdictions\thave\treduced,\taltered\tor\teliminated\tthe\tbenefit\tavailable\nunder\tnet\tenergy\tmetering,\tor\thave\tproposed\tto\tdo\tso.\tSuch\treductions\tin\tor\ttermination\tof\tgovernmental\tincentives\tcould\tadversely\timpact\tour\tresults\nby\tmaking\tour\tproducts\tless\tcompetitive\tfor\tpotential\tcustomers,\tincreasing\tour\tcost\tof\tcapital\tand\tadversely\timpacting\tour\tability\tto\tattract\tinvestment"}


created_at: 2024-04-06 13:59:07
topic: persistent://default/default/19a10f6c-edf5-4774-8347-509021fad678
id: c5d5fc60-f41d-11ee-a3fb-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "tesla-annual-reports/tsla-10k_20191231-gen_0.pdf", "page": 26, "chroma:document": "partners\tand\tto\tform\tnew\tfinancing\tfunds\tfor\tour\tsolar\tand\tenergy\tstorage\tassets.\nMoreover,\twe\tand\tour\tfund\tinvestors\tclaim\tthe\tITC\tand\tcertain\tstate\tincentives\tin\tamounts\tbased\ton\tthe\tfair\tmarket\tvalue\tof\tour\tsolar\tand\nenergy\tstorage\tsystems.\tAlthough\twe\tobtain\tindependent\tappraisals\tto\tsupport\tthe\tclaimed\tfair\tmarket\tvalues,\tthe\trelevant\tgovernmental\tauthorities\nhave\taudited\tsuch\tvalues\tand\tin\tcertain\tcases\thave\tdetermined\tthat\tthey\tshould\tbe\tlower,\tand\tthey\tmay\tdo\tso\tagain\tin\tthe\tfuture.\tSuch\tdeterminations\nmay\tresult\tin\tadverse\ttax\tconsequences\tand/or\tour\tobligation\tto\tmake\tindemnification\tor\tother\tpayments\tto\tour\tfunds\tor\tfund\tinvestors.\nAny\tfailure\tby\tus\tto\tcomply\twith\tthe\tterms\tof\tour\tagreement\twith\tthe\tResearch\tFoundation\tfor\tthe\tState\tUniversity\tof\tNew\tYork\nrelating\tto\tour\tGigafactory\tNew\tYork,\tcould\tresult\tin\tnegative\tconsequences\tfor\tour\tbusiness.\nWe\tare\tparty\tto\tan\toperating\tlease\tand\ta\tresearch\tand\tdevelopment\tagreement\tthrough\tthe\tSUNY\tFoundation.\tThese\tagreements\tprovide\tfor\nthe\tconstruction\tand\tuse\tof\tour\tGigafactory\tin\tBuffalo,\tNew\tYork,\twhich\twe\thave\tprimarily\tused\tfor\tthe\tdevelopment\tand\tproduction\tof\tour\tSolar\tRoof\nand\tother\tsolar\tproducts\tand\tcomponents,\tenergy\tstorage\tcomponents,\tand\tSupercharger\tcomponents,\tand\tfor\tother\tlessor-approved\tfunctions.\tUnder\nthis\tagreement,\twe\tare\tobligated\tto,\tamong\tother\tthings,\tdirectly\temploy\tspecified\tminimum\tnumbers\tof\tpersonnel\tin\tthe\tState\tof\tNew\tYork\tand\tspend\nor\tincur\t$5.0\tbillion\tin\tcombined\tcapital,\toperational\texpenses,\tcosts\tof\tgoods\tsold\tand\tother\tcosts\tin\tthe\tState\tof\tNew\tYork\tduring\tthe\t10-year\tperiod"}


created_at: 2024-04-06 13:59:07
topic: persistent://default/default/19a10f6c-edf5-4774-8347-509021fad678
id: c5d5fce2-f41d-11ee-a3fb-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "tesla-annual-reports/tsla-10k_20191231-gen_0.pdf", "page": 26, "chroma:document": "beginning\tApril\t30,\t2018.\tWhile\twe\texpect\tsignificant\toperations\tat\tGigafactory\tNew\tYork\tand\tthe\tsurrounding\tBuffalo\tarea\tto\tcontinue,\tincluding\twith\nour\tramp\tand\tmanufacture\tof\tthe\tSolar\tRoof,\tif\twe\tfail\tin\tany\tyear\tover\tthe\tcourse\tof\tthe\tterm\tof\tthe\tagreement\tto\tmeet\tthese\tobligations,\twe\twould\tbe\nobligated\tto\tpay\ta\t\u201cprogram\tpayment\u201d\tof\t$41.2\tmillion\tto\tthe\tSUNY\tFoundation\tfor\tsuch\tyear.\tAny\tinability\ton\tour\tpart\tto\tcomply\twith\tthe\trequirements\nof\tthis\tagreement\tmay\tresult\tin\tthe\tpayment\tof\tsignificant\tamounts\tto\tthe\tSUNY\tFoundation,\tthe\ttermination\tof\tour\tlease\tat\tGigafactory\tNew\tYork,\nand/or\tthe\tneed\tto\tadjust\tcertain\tof\tour\toperations,\tin\tparticular\tour\tproduction\tramp\tof\tthe\tSolar\tRoof\tor\tSupercharger\tcomponents.\tAny\tof\tthe\nforegoing\tevents\tcould\thave\ta\tmaterial\tadverse\teffect\ton\tour\tbusiness,\tprospects,\tfinancial\tcondition\tand\toperating\tresults.\nIf\twe\tare\tunable\tto\tattract\tand/or\tretain\tkey\temployees\tand\thire\tqualified\tpersonnel,\tour\tability\tto\tcompete\tcould\tbe\tharmed.\nThe\tloss\tof\tthe\tservices\tof\tany\tof\tour\tkey\temployees\tcould\tdisrupt\tour\toperations,\tdelay\tthe\tdevelopment\tand\tintroduction\tof\tour\tvehicles\tand\nservices,\tand\tnegatively\timpact\tour\tbusiness,\tprospects\tand\toperating\tresults.\tIn\tparticular,\twe\tare\thighly\tdependent\ton\tthe\tservices\tof\tElon\tMusk,\tour\nChief\tExecutive\tOfficer.\nNone\tof\tour\tkey\temployees\tis\tbound\tby\tan\temployment\tagreement\tfor\tany\tspecific\tterm\tand\twe\tmay\tnot\tbe\table\tto\tsuccessfully\tattract\tand\nretain\tsenior\tleadership\tnecessary\tto\tgrow\tour\tbusiness.\tOur\tfuture\tsuccess\tdepends\tupon\tour\tability\tto\tattract\tand\tretain\texecutive\tofficers\tand\tother"}


created_at: 2024-04-06 13:59:07
topic: persistent://default/default/19a10f6c-edf5-4774-8347-509021fad678
id: c5d5fd46-f41d-11ee-a3fb-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "tesla-annual-reports/tsla-10k_20191231-gen_0.pdf", "page": 26, "chroma:document": "key\ttechnology,\tsales,\tmarketing,\tengineering,\tmanufacturing\tand\tsupport\tpersonnel,\tespecially\tto\tsupport\tour\thigh-volume\tmanufacture\tof\tvehicles,\nexpansion\tplans\tand\ttechnological\tinnovation,\tand\tany\tfailure\tor\tdelay\tin\tdoing\tso\tcould\tadversely\timpact\tour\tbusiness,\tprospects,\tfinancial\tcondition\nand\toperating\tresults.\n24"}


created_at: 2024-04-06 13:59:07
topic: persistent://default/default/19a10f6c-edf5-4774-8347-509021fad678
id: c5d5fda0-f41d-11ee-a3fb-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "tesla-annual-reports/tsla-10k_20191231-gen_0.pdf", "page": 27, "chroma:document": "Key\ttalent\tmay\tleave\tTesla\tdue\tto\tvarious\tfactors,\tsuch\tas\ta\tvery\tcompetitive\tlabor\tmarket\tfor\ttalented\tindividuals\twith\tautomotive\tor\ntechnology\texperience,\tor\tany\tnegative\tpublicity\trelated\tto\tus.\tIn\tCalifornia,\tNevada\tand\tother\tregions\twhere\twe\thave\toperations,\tincluding\toutside\tof\nthe\tU.S.,\tthere\tis\tincreasing\tcompetition\tfor\tindividuals\twith\tskillsets\tneeded\tfor\tour\tbusiness,\tincluding\tspecialized\tknowledge\tof\telectric\tvehicles,\nsoftware\tengineering,\tmanufacturing\tengineering,\tand\tother\tskills\tsuch\tas\telectrical\tand\tbuilding\tconstruction\texpertise.\tThis\tcompetition\taffects\tour\nability\tto\tretain\tand\thire\tkey\temployees.\tMoreover,\twe\thave\tin\tthe\tpast\tconducted\treductions\tin\tforce\tin\torder\tto\toptimize\tour\torganizational\tstructure\nand\treduce\tcosts,\tand\tcertain\tsenior\tpersonnel\thave\talso\tdeparted\tfor\tvarious\treasons.\tOur\tcontinued\tsuccess\tdepends\tupon\tour\tcontinued\tability\tto\nhire\tnew\temployees\tin\ta\ttimely\tmanner,\tespecially\tto\tsupport\tour\texpansion\tplans,\tand\tto\tretain\tcurrent\temployees\tor\treplace\tdeparted\tsenior\nemployees\twith\tqualified\tand\texperienced\tindividuals,\twhich\tis\ttypically\ta\ttime-consuming\tprocess.\tAdditionally,\twe\tcompete\twith\tboth\tmature\tand\nprosperous\tcompanies\tthat\thave\tfar\tgreater\tfinancial\tresources\tthan\twe\tdo\tand\tstart-ups\tand\temerging\tcompanies\tthat\tpromise\tshort-term\tgrowth\nopportunities.\tDifficulties\tin\tretaining\tor\trecruiting\temployees\tcould\thave\tan\tadverse\teffect\ton\tour\tperformance\tand\tresults.\nFinally,\tour\tcompensation\tphilosophy\tfor\tall\tof\tour\tpersonnel\treflects\tour\tstartup\torigins,\twith\tan\temphasis\ton\tequity-based\tawards\tand\tbenefits\nin\torder\tto\tclosely\talign\ttheir\tincentives\twith\tthe\tlong-term\tinterests\tof\tour\tstockholders.\tWe\thave\tto\tperiodically\tseek\tand\tobtain\tapproval\tfrom\tour"}


created_at: 2024-04-06 13:59:07
topic: persistent://default/default/19a10f6c-edf5-4774-8347-509021fad678
id: c5d5fdfa-f41d-11ee-a3fb-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "tesla-annual-reports/tsla-10k_20191231-gen_0.pdf", "page": 27, "chroma:document": "stockholders\tfor\tfuture\tincreases\tto\tthe\tnumber\tof\tawards\tthat\tmay\tbe\tgranted\tand\tshares\tthat\tmay\tbe\tpurchased\tunder\tour\tequity\tincentive\tand\nemployee\tstock\tpurchase\tplans.\tIf\twe\tare\tunable\tto\tobtain\tthe\trequisite\tstockholder\tapprovals\tto\tobtain\tfuture\tincreases\tto\tthe\tnumber\tof\tawards\tthat\nmay\tbe\tgranted\tand\tshares\tthat\tmay\tbe\tpurchased\tunder\tsuch\tplans,\tand\tcompensate\tour\tpersonnel\tin\taccordance\twith\tour\tcompensation\tphilosophy,\nour\tability\tto\tretain\tand\thire\tqualified\tpersonnel\twould\tbe\tnegatively\timpacted.\nWe\tare\thighly\tdependent\ton\tthe\tservices\tof\tElon\tMusk,\tour\tChief\tExecutive\tOfficer.\nWe\tare\thighly\tdependent\ton\tthe\tservices\tof\tElon\tMusk,\tour\tChief\tExecutive\tOfficer\tand\tlargest\tstockholder.\tAlthough\tMr.\tMusk\tspends\nsignificant\ttime\twith\tTesla\tand\tis\thighly\tactive\tin\tour\tmanagement,\the\tdoes\tnot\tdevote\this\tfull\ttime\tand\tattention\tto\tTesla.\tMr.\tMusk\talso\tcurrently\nserves\tas\tChief\tExecutive\tOfficer\tand\tChief\tTechnical\tOfficer\tof\tSpace\tExploration\tTechnologies\tCorp.,\ta\tdeveloper\tand\tmanufacturer\tof\tspace\tlaunch\nvehicles,\tand\tis\tinvolved\tin\tother\temerging\ttechnology\tventures.\nWe\tare\tcontinuously\texpanding\tand\timproving\tour\tinformation\ttechnology\tsystems\tand\tuse\tsecurity\tmeasures\tdesigned\tto\tprotect\nour\tsystems\tagainst\tbreaches\tand\tcyber-attacks.\tIf\tthese\tefforts\tare\tnot\tsuccessful,\tour\tbusiness\tand\toperations\tcould\tbe\ndisrupted\tor\tour\tintellectual\tproperty\tcould\tbe\tcompromised,\tas\ta\tresult\tof\twhich\tour\toperating\tresults\tand\treputation\tcould\tbe\nharmed.\nWe\tare\tcontinuously\texpanding\tand\timproving\tour\tinformation\ttechnology\tsystems,\tincluding\timplementing\tnew\tinternally\tdeveloped\tsystems"}


created_at: 2024-04-06 13:59:07
topic: persistent://default/default/19a10f6c-edf5-4774-8347-509021fad678
id: c5d5fe5e-f41d-11ee-a3fb-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "tesla-annual-reports/tsla-10k_20191231-gen_0.pdf", "page": 27, "chroma:document": "and\tdeploying\tsuch\tsystems\tglobally,\tto\tassist\tus\tin\tthe\tmanagement\tof\tour\tbusiness.\tIn\tparticular,\tour\tvolume\tproduction\tof\tmultiple\tvehicles\nnecessitates\tcontinued\tdevelopment,\tmaintenance\tand\timprovement\tof\tour\tinformation\ttechnology\tsystems\tin\tthe\tU.S.\tand\tabroad,\tincluding\tat\nGigafactory\tShanghai,\tsuch\tas\tsystems\tfor\tproduct\tdata\tmanagement,\tprocurement,\tinventory\tmanagement,\tproduction\tplanning\tand\texecution,\tsales,\nservice\tand\tlogistics,\tdealer\tmanagement,\tfinancial,\ttax\tand\tregulatory\tcompliance\tsystems.\tWe\talso\tmaintain\tinformation\ttechnology\tmeasures\ndesigned\tto\tprotect\tus\tagainst\tintellectual\tproperty\ttheft,\tdata\tbreaches\tand\tother\tcyber-attacks.\tThe\timplementation,\tmaintenance,\tsegregation\tand\nimprovement\tof\tthese\tsystems\trequire\tsignificant\tmanagement\ttime,\tsupport\tand\tcost.\tMoreover,\tthere\tare\tinherent\trisks\tassociated\twith\tdeveloping,\nimproving\tand\texpanding\tour\tcore\tsystems\tas\twell\tas\timplementing\tnew\tsystems\tand\tupdating\tcurrent\tsystems,\tincluding\tthe\tdisruption\tof\tour\tdata\nmanagement,\tprocurement,\tmanufacturing\texecution,\tfinance,\tsupply\tchain\tand\tsales\tand\tservice\tprocesses.\tThese\trisks\tmay\taffect\tour\tability\tto\nmanage\tour\tdata\tand\tinventory,\tprocure\tparts\tor\tsupplies\tor\tmanufacture,\tsell,\tdeliver\tand\tservice\tvehicles,\tadequately\tprotect\tour\tintellectual\tproperty\nor\tachieve\tand\tmaintain\tcompliance\twith,\tor\trealize\tavailable\tbenefits\tunder,\ttax\tlaws\tand\tother\tapplicable\tregulations.\n25"}


created_at: 2024-04-06 13:59:07
topic: persistent://default/default/19a10f6c-edf5-4774-8347-509021fad678
id: c5d5fecc-f41d-11ee-a3fb-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "tesla-annual-reports/tsla-10k_20191231-gen_0.pdf", "page": 28, "chroma:document": "We\tcannot\tbe\tsure\tthat\tthese\tsystems\tor\ttheir\trequired\tfunctionality\twill\tbe\teffectively\timplemented,\tmaintained\tor\texpanded\tas\tplanned.\tIf\twe\ndo\tnot\tsuccessfully\timplement,\tmaintain\tor\texpand\tthese\tsystems\tas\tplanned,\tour\toperations\tmay\tbe\tdisrupted,\tour\tability\tto\taccurately\tand/or\ttimely\nreport\tour\tfinancial\tresults\tcould\tbe\timpaired,\tand\tdeficiencies\tmay\tarise\tin\tour\tinternal\tcontrol\tover\tfinancial\treporting,\twhich\tmay\timpact\tour\tability\nto\tcertify\tour\tfinancial\tresults.\t\nMoreover,\tour\tproprietary\tinformation\t\nor\tintellectual\tproperty\t\ncould\tbe\tcompromised\tor\tmisappropriated\tand\tour\nreputation\tmay\tbe\tadversely\taffected.\t\nIf\tthese\tsystems\tor\ttheir\tfunctionality\tdo\tnot\toperate\tas\twe\texpect\tthem\tto,\twe\tmay\tbe\trequired\tto\texpend\nsignificant\tresources\tto\tmake\tcorrections\tor\tfind\talternative\tsources\tfor\tperforming\tthese\tfunctions.\nAny\tunauthorized\tcontrol\tor\tmanipulation\tof\tour\tproducts\u2019\tsystems\tcould\tresult\tin\tloss\tof\tconfidence\tin\tus\tand\tour\tproducts\tand\nharm\tour\tbusiness.\nOur\tproducts\tcontain\tcomplex\tinformation\ttechnology\tsystems.\tFor\texample,\tour\tvehicles\tand\tenergy\tstorage\tproducts\tare\tdesigned\twith\tbuilt-\nin\tdata\tconnectivity\tto\taccept\tand\tinstall\tperiodic\tremote\tupdates\tfrom\tus\tto\timprove\tor\tupdate\ttheir\tfunctionality.\tWe\thave\tdesigned,\timplemented\tand\ntested\tsecurity\tmeasures\tintended\tto\tprevent\tunauthorized\taccess\tto\tour\tinformation\ttechnology\tnetworks,\tour\tproducts\tand\ttheir\tsystems.\tHowever,\nhackers\thave\treportedly\tattempted,\tand\tmay\tattempt\tin\tthe\tfuture,\tto\tgain\tunauthorized\taccess\tto\tmodify,\talter\tand\tuse\tsuch\tnetworks,\tproducts\tand\nsystems\tto\tgain\tcontrol\tof,\tor\tto\tchange,\tour\tproducts\u2019\tfunctionality,\tuser\tinterface\tand\tperformance\tcharacteristics,\tor\tto\tgain\taccess\tto\tdata\tstored\tin"}


created_at: 2024-04-06 13:59:07
topic: persistent://default/default/19a10f6c-edf5-4774-8347-509021fad678
id: c5d5ff26-f41d-11ee-a3fb-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "tesla-annual-reports/tsla-10k_20191231-gen_0.pdf", "page": 28, "chroma:document": "or\tgenerated\tby\tour\tproducts.\tWe\tencourage\treporting\tof\tpotential\tvulnerabilities\tin\tthe\tsecurity\tof\tour\tproducts\tvia\tour\tsecurity\tvulnerability\treporting\npolicy,\tand\twe\taim\tto\tremedy\tany\treported\tand\tverified\tvulnerability.\tAccordingly,\twe\thave\treceived\treports\tof\tpotential\tvulnerabilities\tin\tthe\tpast\tand\nhave\tattempted\tto\tremedy\tthem.\tHowever,\tthere\tcan\tbe\tno\tassurance\tthat\tvulnerabilities\twill\tnot\tbe\texploited\tin\tthe\tfuture\tbefore\tthey\tcan\tbe\nidentified,\tor\tthat\tour\tremediation\tefforts\tare\tor\twill\tbe\tsuccessful.\nAny\tunauthorized\taccess\tto\tor\tcontrol\tof\tour\tproducts\tor\ttheir\tsystems\tor\tany\tloss\tof\tdata\tcould\tresult\tin\tlegal\tclaims\tor\tproceedings.\tIn\naddition,\tregardless\tof\ttheir\tveracity,\treports\tof\tunauthorized\taccess\tto\tour\tproducts,\ttheir\tsystems\tor\tdata,\tas\twell\tas\tother\tfactors\tthat\tmay\tresult\tin\nthe\tperception\tthat\tour\tproducts,\ttheir\tsystems\tor\tdata\tare\tcapable\tof\tbeing\t\u201chacked,\u201d\tcould\tnegatively\taffect\tour\tbrand\tand\tharm\tour\tbusiness,\nprospects,\tfinancial\tcondition\tand\toperating\tresults.\tWe\thave\tbeen\tthe\tsubject\tof\tsuch\treports\tin\tthe\tpast.\nWe\tare\tsubject\tto\tsubstantial\tlaws\tand\tregulations\tthat\tcould\timpose\tsubstantial\tcosts,\tlegal\tprohibitions\tor\tunfavorable\tchanges\nupon\tour\toperations\tor\tproducts,\tand\tany\tfailure\tto\tcomply\twith\tthese\tlaws\tand\tregulations,\tincluding\tas\tthey\tevolve,\tcould\nnegatively\timpact\tour\tability\tto\toperate\tour\tmanufacturing\tfacilities\tand\tsubstantially\tharm\tour\tbusiness\tand\toperating\tresults.\nAs\ta\tmanufacturing\tcompany,\tincluding\twith\trespect\tto\tour\tcurrent\tfacilities\tsuch\tas\tthe\tFremont\tFactory,\tGigafactory\tNevada,\tGigafactory"}


created_at: 2024-04-06 13:59:07
topic: persistent://default/default/19a10f6c-edf5-4774-8347-509021fad678
id: c5d5ff80-f41d-11ee-a3fb-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "tesla-annual-reports/tsla-10k_20191231-gen_0.pdf", "page": 28, "chroma:document": "New\tYork\tand\tGigafactory\tShanghai\tand\tour\tfuture\tfacility\tat\tGigafactory\tBerlin,\twe\tare\tor\twill\tbe\tsubject\tto\tcomplex\tenvironmental,\tmanufacturing,\nhealth\tand\tsafety\tlaws\tand\tregulations\tat\tnumerous\tjurisdictional\tlevels\tin\tthe\tU.S.,\tChina,\tGermany\tand\tother\tlocations\tabroad,\tincluding\tlaws\trelating\nto\tthe\tuse,\thandling,\tstorage,\trecycling,\tdisposal\tand\thuman\texposure\tto\thazardous\tmaterials\tand\twith\trespect\tto\tconstructing,\texpanding\tand\nmaintaining\tour\tfacilities.\tThe\tcosts\tof\tcompliance,\tincluding\tremediating\tcontamination\tif\tany\tis\tfound\ton\tour\tproperties\tand\tany\tchanges\tto\tour\noperations\tmandated\tby\tnew\tor\tamended\tlaws,\tmay\tbe\tsignificant.\tWe\tmay\talso\tface\tunexpected\tdelays\tin\tobtaining\tpermits\tand\tapprovals\trequired\tby\nsuch\tlaws\tin\tconnection\twith\tour\tmanufacturing\tfacilities,\twhich\twould\thinder\tour\toperation\tof\tthese\tfacilities.\tSuch\tcosts\tand\tdelays\tmay\tadversely\nimpact\tour\tbusiness\tprospects\tand\toperating\tresults.\tFurthermore,\tany\tviolations\tof\tthese\tlaws\tmay\tresult\tin\tsubstantial\tfines\tand\tpenalties,\nremediation\tcosts,\tthird\tparty\tdamages,\tor\ta\tsuspension\tor\tcessation\tof\tour\toperations.\n26"}


created_at: 2024-04-06 13:59:07
topic: persistent://default/default/19a10f6c-edf5-4774-8347-509021fad678
id: c5d5ffda-f41d-11ee-a3fb-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "tesla-annual-reports/tsla-10k_20191231-gen_0.pdf", "page": 29, "chroma:document": "In\taddition,\tmotor\tvehicles\tare\tsubject\tto\tsubstantial\tregulation\tunder\tinternational,\tfederal,\tstate\tand\tlocal\tlaws.\tWe\tincur\tsignificant\tcosts\tin\ncomplying\twith\tthese\tregulations\tand\tmay\tbe\trequired\tto\tincur\tadditional\tcosts\tto\tcomply\twith\tany\tchanges\tto\tsuch\tregulations,\tand\tany\tfailures\tto\ncomply\tcould\tresult\tin\tsignificant\texpenses,\tdelays\tor\tfines.\tWe\tare\tsubject\tto\tlaws\tand\tregulations\tapplicable\tto\tthe\tsupply,\tmanufacture,\timport,\tsale\nand\tservice\tof\tautomobiles\tinternationally.\tFor\texample,\tin\tcountries\toutside\tof\tthe\tU.S.,\twe\tare\trequired\tto\tmeet\tstandards\trelating\tto\tvehicle\tsafety,\nfuel\teconomy\tand\temissions,\tamong\tother\tthings,\tthat\tare\toften\tmaterially\tdifferent\tfrom\trequirements\tin\tthe\tU.S.,\tthus\tresulting\tin\tadditional\ninvestment\tinto\tthe\tvehicles\tand\tsystems\tto\tensure\tregulatory\tcompliance\tin\tthose\tcountries.\tThis\tprocess\tmay\tinclude\tofficial\treview\tand\tcertification\nof\tour\tvehicles\tby\tforeign\tregulatory\tagencies\tprior\tto\tmarket\tentry,\tas\twell\tas\tcompliance\twith\tforeign\treporting\tand\trecall\tmanagement\tsystems\nrequirements.\nIn\tparticular,\twe\toffer\tin\tour\tvehicles\tAutopilot\tand\tFSD\tfeatures\tthat\ttoday\tassist\tdrivers\twith\tcertain\ttedious\tand\tpotentially\tdangerous\naspects\tof\troad\ttravel,\tbut\twhich\tcurrently\trequire\tdrivers\tto\tremain\tengaged.\tWe\tare\tcontinuing\tto\tdevelop\tour\tFSD\ttechnology\twith\tthe\tgoal\tof\nachieving\tfull\tself-driving\tcapability\tin\tthe\tfuture.\tThere\tis\ta\tvariety\tof\tinternational,\tfederal\tand\tstate\tregulations\tthat\tmay\tapply\tto\tself-driving\tvehicles,\nwhich\tinclude\tmany\texisting\tvehicle\tstandards\tthat\twere\tnot\toriginally\tintended\tto\tapply\tto\tvehicles\tthat\tmay\tnot\thave\ta\tdriver.\tSuch\tregulations\ncontinue\tto\trapidly\tchange,\twhich\tincreases\tthe\tlikelihood\tof\ta\tpatchwork\tof\tcomplex\tor\tconflicting\tregulations,\tor\tmay\tdelay\tproducts\tor\trestrict\tself-"}


created_at: 2024-04-06 13:59:07
topic: persistent://default/default/19a10f6c-edf5-4774-8347-509021fad678
id: c5d60070-f41d-11ee-a3fb-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "tesla-annual-reports/tsla-10k_20191231-gen_0.pdf", "page": 29, "chroma:document": "driving\tfeatures\tand\tavailability,\tany\tof\twhich\tcould\tadversely\taffect\tour\tbusiness.\nFinally,\tas\ta\tmanufacturer\tand\tinstaller\tof\tsolar\tgeneration\tand\tenergy\tstorage\tsystems\tand\ta\tsupplier\tof\telectricity\tgenerated\tand\tstored\tby\tthe\nsolar\tenergy\tand\tenergy\tstorage\tsystems\twe\tinstall\tfor\tcustomers,\twe\tare\timpacted\tby\tfederal,\tstate\tand\tlocal\tregulations\tand\tpolicies\tconcerning\nelectricity\tpricing,\tthe\tinterconnection\tof\telectricity\tgeneration\tand\tstorage\tequipment\twith\tthe\telectric\tgrid,\tand\tthe\tsale\tof\telectricity\tgenerated\tby\nthird-party\towned\tsystems.\tFor\texample,\texisting\tor\tproposed\tregulations\tand\tpolicies\twould\tpermit\tutilities\tto\tlimit\tthe\tamount\tof\telectricity\tgenerated\nby\tour\tcustomers\twith\ttheir\tsolar\tenergy\tsystems,\tcharge\tfees\tand\tpenalties\tto\tour\tcustomers\trelating\tto\tthe\tpurchase\tof\tenergy\tother\tthan\tfrom\tthe\ngrid,\tadjust\telectricity\trate\tdesigns\tsuch\tthat\tthe\tprice\tof\tour\tsolar\tproducts\tmay\tnot\tbe\tcompetitive\twith\tthat\tof\telectricity\tfrom\tthe\tgrid,\trestrict\tus\tand\nour\tcustomers\tfrom\ttransacting\tunder\tour\tPPAs\tor\tqualifying\tfor\tgovernment\tincentives\tand\tbenefits\tthat\tapply\tto\tsolar\tpower,\tand\tlimit\tor\teliminate\nnet\tenergy\tmetering.\tIf\tsuch\tregulations\tand\tpolicies\tare\tadopted,\tor\tif\tother\tregulations\tand\tpolicies\tthat\tadversely\timpact\tthe\tinterconnection\tor\tuse\nof\tour\tsolar\tand\tenergy\tstorage\tsystems\tare\tintroduced,\tthey\tcould\tdeter\tpotential\tcustomers\tfrom\tpurchasing\tour\tsolar\tand\tenergy\tstorage\tproducts,\nthreaten\tthe\teconomics\tof\tour\texisting\tcontracts\tand\tcause\tus\tto\tcease\tsolar\tand\tenergy\tstorage\tsystem\tsales\tand\toperations\tin\tthe\trelevant\njurisdictions,\twhich\tcould\tharm\tour\tbusiness,\tprospects,\tfinancial\tcondition\tand\tresults\tof\toperations."}


created_at: 2024-04-06 13:59:07
topic: persistent://default/default/19a10f6c-edf5-4774-8347-509021fad678
id: c5d600d4-f41d-11ee-a3fb-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "tesla-annual-reports/tsla-10k_20191231-gen_0.pdf", "page": 29, "chroma:document": "Failure\tto\tcomply\twith\ta\tvariety\tof\tU.S.\tand\tinternational\tprivacy\tand\tconsumer\tprotection\tlaws\tto\twhich\twe\tare\tsubject\tcould\nharm\tthe\tCompany.\nOur\tprivacy\tpolicy\tis\tposted\ton\tour\twebsite,\tand\tany\tfailure\tby\tus\tor\tour\tvendor\tor\tother\tbusiness\tpartners\tto\tcomply\twith\tit\tor\twith\tfederal,\nstate\tor\tinternational\tprivacy,\tdata\tprotection\tor\tsecurity\tlaws\tor\tregulations\trelating\tto\tthe\tcollection,\tuse,\tretention,\tsecurity\tand\ttransfer\tof\tpersonally\nidentifiable\tinformation\tcould\tresult\tin\tregulatory\tor\tlitigation-related\tactions\tagainst\tus,\tlegal\tliability,\tfines,\tdamages,\tongoing\taudit\trequirements\tand\nother\tsignificant\tcosts.\tSubstantial\texpenses\tand\toperational\tchanges\tmay\tbe\trequired\tin\tconnection\twith\tmaintaining\tcompliance\twith\tsuch\tlaws,\tand\nin\tparticular\tcertain\temerging\tprivacy\tlaws\tare\tstill\tsubject\tto\ta\thigh\tdegree\tof\tuncertainty\tas\tto\ttheir\tinterpretation\tand\tapplication.\tFor\texample,\tin\nMay\t2018,\tthe\tGeneral\tData\tProtection\tRegulation\tbegan\tto\tfully\tapply\tto\tthe\tprocessing\tof\tpersonal\tinformation\tcollected\tfrom\tindividuals\tlocated\tin\nthe\tEuropean\tUnion,\tand\thas\tcreated\tnew\tcompliance\tobligations\tand\thas\tsignificantly\tincreased\tfines\tfor\tnoncompliance.\tSimilarly,\tbeginning\tin\nJanuary\t2020,\tthe\tCalifornia\tConsumer\tPrivacy\tAct\timposes\tcertain\tlegal\tobligations\ton\tour\tuse\tand\tprocessing\tof\tpersonal\tinformation\trelated\tto\nCalifornia\tresidents.\tAlthough\twe\ttake\tsteps\tto\tprotect\tthe\tsecurity\tand\tintegrity\tof\tour\tcustomers\u2019\tpersonal\tinformation,\twe\tmay\tbe\trequired\tto\texpend\nsignificant\tresources\tto\tcomply\twith\tdata\tbreach\trequirements\tif\tthird\tparties\timproperly\tobtain\tand\tuse\tthe\tpersonal\tinformation\tof\tour\tcustomers\tor\nwe\totherwise\texperience\ta\tdata\tloss\twith\trespect\tto\tcustomers\u2019\tpersonal\tinformation.\tA\tmajor\tbreach\tof\tour\tnetwork\tsecurity\tand\tsystems\tcould\thave"}


created_at: 2024-04-06 13:59:07
topic: persistent://default/default/19a10f6c-edf5-4774-8347-509021fad678
id: c5d6012e-f41d-11ee-a3fb-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "tesla-annual-reports/tsla-10k_20191231-gen_0.pdf", "page": 29, "chroma:document": "negative\tconsequences\tfor\tour\tbusiness\tand\tfuture\tprospects,\tincluding\tpossible\tfines,\tpenalties\tand\tdamages,\treduced\tcustomer\tdemand\tfor\tour\nvehicles\tand\tharm\tto\tour\treputation\tand\tbrand.\n27"}


created_at: 2024-04-06 13:59:07
topic: persistent://default/default/19a10f6c-edf5-4774-8347-509021fad678
id: c5d60188-f41d-11ee-a3fb-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "tesla-annual-reports/tsla-10k_20191231-gen_0.pdf", "page": 30, "chroma:document": "Our\tbusiness\tmay\tbe\tadversely\taffected\tby\tany\tdisruptions\tcaused\tby\tunion\tactivities.\nIt\tis\tnot\tuncommon\tfor\temployees\tof\tcertain\ttrades\tat\tcompanies\tsuch\tas\tus\tto\tbelong\tto\ta\tunion,\twhich\tcan\tresult\tin\thigher\temployee\tcosts\tand\nincreased\trisk\tof\twork\tstoppages.\tMoreover,\tregulations\tin\tsome\tjurisdictions\toutside\tof\tthe\tU.S.\tmandate\temployee\tparticipation\tin\tindustrial\tcollective\nbargaining\tagreements\tand\twork\tcouncils\twith\tcertain\tconsultation\trights\twith\trespect\tto\tthe\trelevant\tcompanies\u2019\toperations.\tAlthough\twe\twork\ndiligently\tto\tprovide\tthe\tbest\tpossible\twork\tenvironment\tfor\tour\temployees,\tthey\tmay\tstill\tdecide\tto\tjoin\tor\tseek\trecognition\tto\tform\ta\tlabor\tunion,\tor\twe\nmay\tbe\trequired\tto\tbecome\ta\tunion\tsignatory.\tFrom\ttime\tto\ttime,\tlabor\tunions\thave\tengaged\tin\tcampaigns\tto\torganize\tcertain\tof\tour\toperations,\tas\tpart\nof\twhich\tsuch\tunions\thave\tfiled\tunfair\tlabor\tpractice\tcharges\tagainst\tus\twith\tthe\tNational\tLabor\tRelations\tBoard,\tand\tthey\tmay\tdo\tso\tin\tthe\tfuture.\tIn\nSeptember\t2019,\tan\tadministrative\tlaw\tjudge\tissued\ta\trecommended\tdecision\tfor\tTesla\ton\tcertain\tissues\tand\tagainst\tus\ton\tcertain\tothers.\tThe\tNational\nLabor\tRelations\tBoard\thas\tnot\tyet\tadopted\tthe\trecommendation\tand\twe\thave\tappealed\tcertain\taspects\tof\tthe\trecommended\tdecision.\tAny\tunfavorable\nultimate\toutcome\tfor\tTesla\tmay\thave\ta\tnegative\timpact\ton\tthe\tperception\tof\tTesla\u2019s\ttreatment\tof\tour\temployees.\tFurthermore,\twe\tare\tdirectly\tor\nindirectly\tdependent\tupon\tcompanies\twith\tunionized\twork\tforces,\tsuch\tas\tparts\tsuppliers\tand\ttrucking\tand\tfreight\tcompanies,\tand\twork\tstoppages\tor\nstrikes\torganized\tby\tsuch\tunions\tcould\thave\ta\tmaterial\tadverse\timpact\ton\tour\tbusiness,\tfinancial\tcondition\tor\toperating\tresults.\tIf\ta\twork\tstoppage"}


created_at: 2024-04-06 13:59:07
topic: persistent://default/default/19a10f6c-edf5-4774-8347-509021fad678
id: c5d601e2-f41d-11ee-a3fb-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "tesla-annual-reports/tsla-10k_20191231-gen_0.pdf", "page": 30, "chroma:document": "occurs,\tit\tcould\tdelay\tthe\tmanufacture\tand\tsale\tof\tour\tproducts\tand\thave\ta\tmaterial\tadverse\teffect\ton\tour\tbusiness,\tprospects,\toperating\tresults\tor\nfinancial\tcondition.\nWe\tmay\tchoose\tto\tor\tbe\tcompelled\tto\tundertake\tproduct\trecalls\tor\ttake\tother\tsimilar\tactions,\twhich\tcould\tadversely\taffect\tour\nbrand\timage\tand\tfinancial\tperformance.\nAny\tproduct\trecall\twith\trespect\tto\tour\tproducts\tmay\tresult\tin\tadverse\tpublicity,\tdamage\tour\tbrand\tand\tadversely\taffect\tour\tbusiness,\tprospects,\noperating\tresults\tand\tfinancial\tcondition.\tFor\texample,\tcertain\tvehicle\trecalls\tthat\twe\tinitiated\thave\tresulted\tfrom\tvarious\tcauses,\tincluding\ta\ncomponent\tthat\tcould\tprevent\tthe\tparking\tbrake\tfrom\treleasing\tonce\tengaged,\ta\tconcern\twith\tthe\tfirmware\tin\tthe\trestraints\tcontrol\tmodule\tin\tcertain\nright-hand-drive\tvehicles,\tindustry-wide\tissues\twith\tairbags\tfrom\ta\tparticular\tsupplier,\tModel\tX\tseat\tcomponents\tthat\tcould\tcause\tunintended\tseat\nmovement\tduring\ta\tcollision,\tand\tconcerns\tof\tcorrosion\tin\tModel\tS\tand\tModel\tX\tpower\tsteering\tassist\tmotor\tbolts.\tFurthermore,\ttesting\tof\tour\tproducts\nby\tgovernment\tregulators\tor\tindustry\tgroups\tmay\trequire\tus\tto\tinitiate\tproduct\trecalls\tor\tmay\tresult\tin\tnegative\tpublic\tperceptions\tabout\tthe\tsafety\tof\nour\tproducts.\tIn\tthe\tfuture,\twe\tmay\tat\tvarious\ttimes,\tvoluntarily\tor\tinvoluntarily,\tinitiate\ta\trecall\tif\tany\tof\tour\tproducts\tor\tour\telectric\tvehicle\tpowertrain\ncomponents\tthat\twe\thave\tprovided\tto\tother\tvehicle\tOEMs,\tincluding\tany\tsystems\tor\tparts\tsourced\tfrom\tour\tsuppliers,\tprove\tto\tbe\tdefective\tor\nnoncompliant\twith\tapplicable\tlaws\tand\tregulations,\tsuch\tas\tfederal\tmotor\tvehicle\tsafety\tstandards.\tSuch\trecalls,\twhether\tvoluntary\tor\tinvoluntary\tor"}


created_at: 2024-04-06 13:59:07
topic: persistent://default/default/19a10f6c-edf5-4774-8347-509021fad678
id: c5d6023c-f41d-11ee-a3fb-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "tesla-annual-reports/tsla-10k_20191231-gen_0.pdf", "page": 30, "chroma:document": "caused\tby\tsystems\tor\tcomponents\tengineered\tor\tmanufactured\tby\tus\tor\tour\tsuppliers,\tcould\tinvolve\tsignificant\texpense\tand\tcould\tadversely\taffect\tour\nbrand\timage\tin\tour\ttarget\tmarkets,\tas\twell\tas\tour\tbusiness,\tprospects,\tfinancial\tcondition\tand\tresults\tof\toperations.\nOur\tcurrent\tand\tfuture\twarranty\treserves\tmay\tbe\tinsufficient\tto\tcover\tfuture\twarranty\tclaims\twhich\tcould\tadversely\taffect\tour\nfinancial\tperformance.\nWe\tprovide\ta\tmanufacturer\u2019s\twarranty\ton\tall\tnew\tand\tused\tTesla\tvehicles\tand\tproduction\tpowertrain\tcomponents\tand\tsystems\twe\tsell.\t\tIn\naddition,\twe\talso\tprovide\ta\twarranty\ton\tthe\tinstallation\tand\tcomponents\tof\tthe\tenergy\tgeneration\tand\tstorage\tsystems\twe\tsell,\tand\twe\tpass\tthrough\tto\nour\tcustomers\tthe\tinverter\tand\tpanel\tmanufacturers\u2019\twarranties.\tFinally,\twe\toffer\ta\tperformance\tguarantee\twith\tour\tleased\tsolar\tenergy\tsystems\tthat\ncompensates\ta\tcustomer\ton\tan\tannual\tbasis\tif\ttheir\tsystem\tdoes\tnot\tmeet\tthe\telectricity\tproduction\tguarantees\tset\tforth\tin\ttheir\tPPA\tor\tlease.\t\tUnder\nthese\tperformance\tguarantees,\twe\tbear\tthe\trisk\tof\telectricity\tproduction\tshortfalls\tresulting\tfrom\tan\tinverter\tor\tpanel\tfailure.\t\tThese\trisks\tare\nexacerbated\tin\tthe\tevent\tthe\tpanel\tor\tinverter\tmanufacturers\tcease\toperations\tor\tfail\tto\thonor\ttheir\twarranties.\nIf\tour\twarranty\treserves\tare\tinadequate\tto\tcover\tfuture\twarranty\tclaims\ton\tour\tproducts,\tour\tbusiness,\tprospects,\tfinancial\tcondition\tand\noperating\tresults\tcould\tbe\tmaterially\tand\tadversely\taffected.\tWarranty\treserves\tinclude\tour\tmanagement\u2019s\tbest\testimate\tof\tthe\tprojected\tcosts\tto\trepair\nor\tto\treplace\titems\tunder\twarranty.\tThese\testimates\tare\tbased\ton\tactual\tclaims\tincurred\tto\tdate\tand\tan\testimate\tof\tthe\tnature,\tfrequency\tand\tcosts\tof"}


created_at: 2024-04-06 13:59:07
topic: persistent://default/default/19a10f6c-edf5-4774-8347-509021fad678
id: c5d60296-f41d-11ee-a3fb-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "tesla-annual-reports/tsla-10k_20191231-gen_0.pdf", "page": 30, "chroma:document": "future\tclaims.\tSuch\testimates\tare\tinherently\tuncertain\tand\tchanges\tto\tour\thistorical\tor\tprojected\texperience,\tespecially\twith\trespect\tto\tproducts\tsuch\tas\nModel\t3,\tModel\tY\tand\tthe\tSolar\tRoof\tthat\twe\thave\trecently\tintroduced\tand/or\tthat\twe\texpect\tto\tproduce\tat\tsignificantly\tgreater\tvolumes\tthan\tour\tpast\nproducts,\tmay\tcause\tmaterial\tchanges\tto\tour\twarranty\treserves\tin\tthe\tfuture.\n28"}


created_at: 2024-04-06 13:59:07
topic: persistent://default/default/19a10f6c-edf5-4774-8347-509021fad678
id: c5d60340-f41d-11ee-a3fb-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "tesla-annual-reports/tsla-10k_20191231-gen_0.pdf", "page": 31, "chroma:document": "Our\tinsurance\tcoverage\tstrategy\tmay\tnot\tbe\tadequate\tto\tprotect\tus\tfrom\tall\tbusiness\trisks.\nWe\tmay\tbe\tsubject,\tin\tthe\tordinary\tcourse\tof\tbusiness,\tto\tlosses\tresulting\tfrom\tproducts\tliability,\taccidents,\tacts\tof\tGod\tand\tother\tclaims\tagainst\nus,\tfor\twhich\twe\tmay\thave\tno\tinsurance\tcoverage.\tAs\ta\tgeneral\tmatter,\twe\tdo\tnot\tmaintain\tas\tmuch\tinsurance\tcoverage\tas\tmany\tother\tcompanies\tdo,\nand\tin\tsome\tcases,\twe\tdo\tnot\tmaintain\tany\tat\tall.\tAdditionally,\tthe\tpolicies\tthat\twe\tdo\thave\tmay\tinclude\tsignificant\tdeductibles\tor\tself-insured\nretentions,\tand\twe\tcannot\tbe\tcertain\tthat\tour\tinsurance\tcoverage\twill\tbe\tsufficient\tto\tcover\tall\tfuture\tlosses\tor\tclaims\tagainst\tus.\tA\tloss\tthat\tis\nuninsured\tor\twhich\texceeds\tpolicy\tlimits\tmay\trequire\tus\tto\tpay\tsubstantial\tamounts,\twhich\tcould\tadversely\taffect\tour\tfinancial\tcondition\tand\toperating\nresults.\nOur\tfinancial\tresults\tmay\tvary\tsignificantly\tfrom\tperiod\tto\tperiod\tdue\tto\tfluctuations\tin\tour\toperating\tcosts\tand\tother\tfactors.\nWe\texpect\tour\tperiod-to-period\tfinancial\tresults\tto\tvary\tbased\ton\tour\toperating\tcosts,\twhich\twe\tanticipate\twill\tfluctuate\tas\tthe\tpace\tat\twhich\twe\ncontinue\tto\tdesign,\tdevelop\tand\tmanufacture\tnew\tproducts\tand\tincrease\tproduction\tcapacity\tby\texpanding\tour\tcurrent\tmanufacturing\tfacilities\tand\nadding\tfuture\tfacilities,\tmay\tnot\tbe\tconsistent\tor\tlinear\tbetween\tperiods.\tAdditionally,\tour\trevenues\tfrom\tperiod\tto\tperiod\tmay\tfluctuate\tas\twe\tintroduce\nexisting\tproducts\tto\tnew\tmarkets\tfor\tthe\tfirst\ttime\tand\tas\twe\tdevelop\tand\tintroduce\tnew\tproducts.\t\tAs\ta\tresult\tof\tthese\tfactors,\twe\tbelieve\tthat\tquarter-"}


created_at: 2024-04-06 13:59:07
topic: persistent://default/default/19a10f6c-edf5-4774-8347-509021fad678
id: c5d6039a-f41d-11ee-a3fb-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "tesla-annual-reports/tsla-10k_20191231-gen_0.pdf", "page": 31, "chroma:document": "to-quarter\tcomparisons\tof\tour\tfinancial\tresults,\tespecially\tin\tthe\tshort\tterm,\tare\tnot\tnecessarily\tmeaningful\tand\tthat\tthese\tcomparisons\tcannot\tbe\trelied\nupon\tas\tindicators\tof\tfuture\tperformance.\tMoreover,\tour\tfinancial\tresults\tmay\tnot\tmeet\texpectations\tof\tequity\tresearch\tanalysts,\tratings\tagencies\tor\ninvestors,\twho\tmay\tbe\tfocused\tonly\ton\tquarterly\tfinancial\tresults.\tIf\tany\tof\tthis\toccurs,\tthe\ttrading\tprice\tof\tour\tstock\tcould\tfall\tsubstantially,\teither\nsuddenly\tor\tover\ttime.\nServicing\tour\tindebtedness\trequires\ta\tsignificant\tamount\tof\tcash,\tand\tthere\tis\tno\tguarantee\tthat\twe\twill\thave\tsufficient\tcash\tflow\nfrom\tour\tbusiness\tto\tpay\tour\tsubstantial\tindebtedness.\nAs\tof\tDecember\t31,\t2019,\twe\tand\tour\tsubsidiaries\thad\toutstanding\t$12.49\tbillion\tin\taggregate\tprincipal\tamount\tof\tindebtedness\t(see\tNote\t12,\nDebt\n,\tto\tthe\tconsolidated\tfinancial\tstatements\tincluded\telsewhere\tin\tthis\tAnnual\tReport\ton\tForm\t10-K).\tOur\tsubstantial\tconsolidated\tindebtedness\tmay\nincrease\tour\tvulnerability\tto\tany\tgenerally\tadverse\teconomic\tand\tindustry\tconditions.\tWe\tand\tour\tsubsidiaries\tmay,\tsubject\tto\tthe\tlimitations\tin\tthe\nterms\tof\tour\texisting\tand\tfuture\tindebtedness,\tincur\tadditional\tdebt,\tsecure\texisting\tor\tfuture\tdebt\tor\trecapitalize\tour\tdebt.\nPursuant\tto\ttheir\tterms,\tholders\tof\tour\t1.25%\tConvertible\tSenior\tNotes\tdue\t2021,\t2.375%\tConvertible\tSenior\tNotes\tdue\t2022\tand\t2.00%\nConvertible\tSenior\tNotes\tdue\t2024\t(together,\tthe\t\u201cTesla\tConvertible\tNotes\u201d)\tmay\tconvert\ttheir\trespective\tTesla\tConvertible\tNotes\tat\ttheir\toption\tprior"}


created_at: 2024-04-06 13:59:07
topic: persistent://default/default/19a10f6c-edf5-4774-8347-509021fad678
id: c5d603f4-f41d-11ee-a3fb-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "tesla-annual-reports/tsla-10k_20191231-gen_0.pdf", "page": 31, "chroma:document": "to\tthe\tscheduled\tmaturities\tof\tthe\trespective\tTesla\tConvertible\tNotes\tunder\tcertain\tcircumstances.\tUpon\tconversion\tof\tthe\tapplicable\tTesla\tConvertible\nNotes,\twe\twill\tbe\tobligated\tto\tdeliver\tcash\tand/or\tshares\tin\trespect\tof\tthe\tprincipal\tamounts\tthereof\tand\tthe\tconversion\tvalue\tin\texcess\tof\tsuch\tprincipal\namounts\ton\tsuch\tTesla\tConvertible\tNotes.\tMoreover,\tour\tsubsidiary\u2019s\tZero-Coupon\tConvertible\tSenior\tNotes\tdue\t2020\t(the\t\u201cSubsidiary\tConvertible\nNotes\u201d)\tare\tconvertible\tinto\tshares\tof\tour\tcommon\tstock\tat\ta\tconversion\tprice\tof\t$300.00\tper\tshare.\tFinally,\tholders\tof\tthe\tTesla\tConvertible\tNotes\tand\nthe\tSubsidiary\tConvertible\tNotes\twill\thave\tthe\tright\tto\trequire\tus\tto\trepurchase\ttheir\tnotes\tupon\tthe\toccurrence\tof\ta\tfundamental\tchange\tat\ta\tpurchase\nprice\tequal\tto\t100%\tof\tthe\tprincipal\tamount\tof\tthe\tnotes,\tplus\taccrued\tand\tunpaid\tinterest,\tif\tany,\tto,\tbut\tnot\tincluding,\tthe\tfundamental\tchange\npurchase\tdate.\n29"}


created_at: 2024-04-06 13:59:07
topic: persistent://default/default/19a10f6c-edf5-4774-8347-509021fad678
id: c5d6044e-f41d-11ee-a3fb-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "tesla-annual-reports/tsla-10k_20191231-gen_0.pdf", "page": 32, "chroma:document": "Our\tability\tto\tmake\tscheduled\tpayments\tof\t\nthe\t\nprincipal\t\nand\n\tinterest\t\non\n\tour\tindebtedness\t\nwhen\tdue\tor\tto\tmake\tpayments\t\nupon\tconversion\t\nor\nrepurchase\tdemands\twith\trespect\tto\tour\tconvertible\tnotes,\tor\tto\trefinance\tour\tindebtedness\tas\twe\tmay\tneed\tor\tdesire\n,\tdepends\ton\tour\tfuture\nperformance,\twhich\tis\tsubject\tto\teconomic,\tfinancial,\tcompetitive\tand\tother\tfactors\tbeyond\tour\tcontrol.\tOur\tbusiness\tmay\tnot\tcontinue\tto\tgenerate\tcash\nflow\tfrom\toperations\tin\tthe\tfuture\tsufficient\tto\tsatisfy\t\nour\t\nobligations\tunder\n\tour\texisting\tindebtedness,\tand\n\tany\tfuture\tindebtedness\twe\tmay\tincur,\tand\nto\tmake\tnecessary\tcapital\texpenditures.\tIf\twe\tare\tunable\tto\tgenerate\tsuch\tcash\tflow,\twe\tmay\tbe\trequired\tto\tadopt\tone\tor\tmore\talternatives,\tsuch\tas\nreducing\tor\tdelaying\tinvestments\tor\tcapital\texpenditures,\tselling\tassets,\trefinancing\tor\tobtaining\tadditional\tequity\tcapital\ton\tterms\tthat\tmay\tbe\tonerous\nor\thighly\tdilutive.\tOur\tability\tto\trefinance\texisting\tor\tfuture\tindebtedness\twill\tdepend\ton\tthe\tcapital\tmarkets\tand\tour\tfinancial\tcondition\tat\tsuch\ttime.\t\nIn\naddition,\tour\tability\tto\tmake\tpayments\tmay\tbe\tlimited\tby\tlaw,\tby\tregulatory\tauthority\tor\tby\tagreements\tgoverning\tour\tfuture\tindebtedness.\t\nWe\tmay\tnot\nbe\table\tto\tengage\tin\tany\tof\tthese\tactivities\tor\tengage\tin\tthese\tactivities\ton\tdesirable\tterms\tor\tat\tall,\twhich\tcould\tresult\tin\ta\tdefault\ton\t\nour\texisting\n\tor\nfuture\tindebtedness\tand\thave\ta\tmaterial\tadverse\teffect\ton\tour\tbusiness,\tresults\tof\toperations\tand\tfinancial\tcondition.\nOur\tdebt\tagreements\tcontain\tcovenant\trestrictions\tthat\tmay\tlimit\tour\tability\tto\toperate\tour\tbusiness."}


created_at: 2024-04-06 13:59:07
topic: persistent://default/default/19a10f6c-edf5-4774-8347-509021fad678
id: c5d604a8-f41d-11ee-a3fb-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "tesla-annual-reports/tsla-10k_20191231-gen_0.pdf", "page": 32, "chroma:document": "The\tterms\tof\tcertain\tof\tour\tcredit\tfacilities,\tincluding\tthe\tCredit\tAgreement,\tcontain,\tand\tany\tof\tour\tother\tfuture\tdebt\tagreements\tmay\tcontain,\ncovenant\trestrictions\tthat\tlimit\tour\tability\tto\toperate\tour\tbusiness,\tincluding\trestrictions\ton\tour\tability\tto,\tamong\tother\tthings,\tincur\tadditional\tdebt\tor\nissue\tguarantees,\tcreate\tliens,\trepurchase\tstock\tor\tmake\tother\trestricted\tpayments,\tand\tmake\tcertain\tvoluntary\tprepayments\tof\tspecified\tdebt.\tIn\naddition,\tunder\tcertain\tcircumstances\twe\tare\trequired\tto\tcomply\twith\ta\tfixed\tcharge\tcoverage\tratio.\tAs\ta\tresult\tof\tthese\tcovenants,\tour\tability\tto\nrespond\tto\tchanges\tin\tbusiness\tand\teconomic\tconditions\tand\tengage\tin\tbeneficial\ttransactions,\tincluding\tto\tobtain\tadditional\tfinancing\tas\tneeded,\tmay\nbe\trestricted.\tFurthermore,\tour\tfailure\tto\tcomply\twith\tour\tdebt\tcovenants\tcould\tresult\tin\ta\tdefault\tunder\tour\tdebt\tagreements,\twhich\tcould\tpermit\tthe\nholders\tto\taccelerate\tour\tobligation\tto\trepay\tthe\tdebt.\tIf\tany\tof\tour\tdebt\tis\taccelerated,\twe\tmay\tnot\thave\tsufficient\tfunds\tavailable\tto\trepay\tit.\nWe\tmay\tneed\tor\twant\tto\traise\tadditional\tfunds\tand\tthese\tfunds\tmay\tnot\tbe\tavailable\tto\tus\twhen\twe\tneed\tthem.\tIf\twe\tcannot\traise\nadditional\tfunds\twhen\twe\tneed\tor\twant\tthem,\tour\toperations\tand\tprospects\tcould\tbe\tnegatively\taffected.\nThe\tdesign,\tmanufacture,\tsale,\tinstallation\tand/or\tservicing\tof\tautomobiles,\tenergy\tstorage\tproducts\tand\tsolar\tproducts\tis\ta\tcapital-intensive\nbusiness,\tand\tthe\tspecific\ttiming\tof\tcash\tinflows\tand\toutflows\tmay\tfluctuate\tsubstantially\tfrom\tperiod\tto\tperiod.\tUntil\twe\tare\tconsistently\tgenerating"}


created_at: 2024-04-06 13:59:07
topic: persistent://default/default/19a10f6c-edf5-4774-8347-509021fad678
id: c5d6050c-f41d-11ee-a3fb-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "tesla-annual-reports/tsla-10k_20191231-gen_0.pdf", "page": 32, "chroma:document": "positive\tfree\tcash\tflows,\twe\tmay\tneed\tor\twant\tto\traise\tadditional\tfunds\tthrough\tthe\tissuance\tof\tequity,\tequity-related\tor\tdebt\tsecurities\tor\tthrough\nobtaining\tcredit\tfrom\tfinancial\tinstitutions\tto\tfund,\ttogether\twith\tour\tprincipal\tsources\tof\tliquidity,\tthe\tcosts\tof\tdeveloping\tand\tmanufacturing\tour\ncurrent\tor\tfuture\tvehicles,\tenergy\tstorage\tproducts\tand/or\tsolar\tproducts,\tto\tpay\tany\tsignificant\tunplanned\tor\taccelerated\texpenses\tor\tfor\tnew\nsignificant\tstrategic\tinvestments,\tor\tto\trefinance\tour\tsignificant\tconsolidated\tindebtedness,\teven\tif\tnot\trequired\tto\tdo\tso\tby\tthe\tterms\tof\tsuch\nindebtedness.\tWe\tneed\tsufficient\tcapital\tto\tfund\tongoing\toperations,\tresearch\tand\tdevelopment\tprojects\tfor\tnew\tproducts,\testablishment\tand/or\nincreases\tof\tModel\t3\tand\tModel\tY\tproduction\tcapacity\tat\tthe\tFremont\tFactory\tand\tat\tGigafactory\tShanghai,\tthe\tcontinued\texpansion\tof\tGigafactory\nNevada,\tthe\tconstruction\tof\tGigafactory\tBerlin,\tthe\tmanufacturing\tramp\tof\tthe\tSolar\tRoof\tat\tGigafactory\tNew\tYork,\tand\tthe\tcontinued\texpansion\tof\tour\nretail\tand\tservice\tlocations,\tbody\tshops,\tMobile\tService\tfleet\tand\tSupercharger\tnetwork.\tWe\tcannot\tbe\tcertain\tthat\tadditional\tfunds\twill\tbe\tavailable\tto\nus\ton\tfavorable\tterms\twhen\trequired,\tor\tat\tall.\tIf\twe\tcannot\traise\tadditional\tfunds\twhen\twe\tneed\tthem,\tour\tfinancial\tcondition,\tresults\tof\toperations,\nbusiness\tand\tprospects\tcould\tbe\tmaterially\tand\tadversely\taffected.\n30"}


created_at: 2024-04-06 13:59:07
topic: persistent://default/default/19a10f6c-edf5-4774-8347-509021fad678
id: c5d60566-f41d-11ee-a3fb-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "tesla-annual-reports/tsla-10k_20191231-gen_0.pdf", "page": 33, "chroma:document": "We\tcould\tbe\tsubject\tto\tliability,\tpenalties\tand\tother\trestrictive\tsanctions\tand\tadverse\tconsequences\tarising\tout\tof\tcertain\ngovernmental\tinvestigations\tand\tproceedings.\nWe\tare\tcooperating\twith\tcertain\tgovernment\tinvestigations\tas\tdiscussed\tin\tNote\t16,\t\nCommitments\tand\tContingencies\n,\tto\tthe\tconsolidated\nfinancial\tstatements\tincluded\telsewhere\tin\tthis\tAnnual\tReport\ton\tForm\t10-K.\tTo\tour\tknowledge,\tno\tgovernment\tagency\tin\tany\tsuch\tongoing\ninvestigation\thas\tconcluded\tthat\tany\twrongdoing\toccurred.\tHowever,\twe\tcannot\tpredict\tthe\toutcome\tor\timpact\tof\tany\tsuch\tongoing\tmatters,\tand\tthere\nexists\tthe\tpossibility\tthat\twe\tcould\tbe\tsubject\tto\tliability,\tpenalties\tand\tother\trestrictive\tsanctions\tand\tadverse\tconsequences\tif\tthe\tSEC,\tthe\tDOJ,\tor\tany\nother\tgovernment\tagency\twere\tto\tpursue\tlegal\taction\tin\tthe\tfuture.\tMoreover,\twe\texpect\tto\tincur\tcosts\tin\tresponding\tto\trelated\trequests\tfor\tinformation\nand\tsubpoenas,\tand\tif\tinstituted,\tin\tdefending\tagainst\tany\tgovernmental\tproceedings.\nFor\texample,\ton\tOctober\t16,\t2018,\tthe\tU.S.\tDistrict\tCourt\tfor\tthe\tSouthern\tDistrict\tof\tNew\tYork\tentered\ta\tfinal\tjudgment\tapproving\tthe\tterms\tof\na\tsettlement\tfiled\twith\tthe\tCourt\ton\tSeptember\t29,\t2018,\tin\tconnection\twith\tthe\tactions\ttaken\tby\tthe\tSEC\trelating\tto\tMr.\tMusk\u2019s\tstatement\ton\tAugust\t7,\n2018\tthat\the\twas\tconsidering\ttaking\tTesla\tprivate.\tPursuant\tto\tthe\tsettlement,\twe,\tamong\tother\tthings,\tpaid\ta\tcivil\tpenalty\tof\t$20\tmillion,\tappointed\tan\nindependent\tdirector\tas\tthe\tChair\tof\tthe\tBoard,\tappointed\ttwo\tadditional\tindependent\tdirectors\tto\tour\tboard\tof\tdirectors,\tand\tmade\tfurther"}


created_at: 2024-04-06 13:59:07
topic: persistent://default/default/19a10f6c-edf5-4774-8347-509021fad678
id: c5d605c0-f41d-11ee-a3fb-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "tesla-annual-reports/tsla-10k_20191231-gen_0.pdf", "page": 33, "chroma:document": "enhancements\tto\tour\tdisclosure\tcontrols\tand\tother\tcorporate\tgovernance-related\tmatters.\tOn\tApril\t26,\t2019,\tthis\tsettlement\twas\tamended\tto\tclarify\ncertain\tof\tthe\tpreviously-agreed\tdisclosure\tprocedures,\twhich\twas\tsubsequently\tapproved\tby\tthe\tCourt.\tAll\tother\tterms\tof\tthe\tprior\tsettlement\twere\nreaffirmed\twithout\tmodification.\tAlthough\twe\tintend\tto\tcontinue\tto\tcomply\twith\tthe\tterms\tand\trequirements\tof\tthe\tsettlement,\tif\tthere\tis\ta\tlack\tof\ncompliance\tor\tan\talleged\tlack\tof\tcompliance,\tadditional\tenforcement\tactions\tor\tother\tlegal\tproceedings\tmay\tbe\tinstituted\tagainst\tus.\nIf\twe\tupdate\tor\tdiscontinue\tthe\tuse\tof\tour\tmanufacturing\tequipment\tmore\tquickly\tthan\texpected,\twe\tmay\thave\tto\tshorten\tthe\nuseful\tlives\tof\tany\tequipment\tto\tbe\tretired\tas\ta\tresult\tof\tany\tsuch\tupdate,\tand\tthe\tresulting\tacceleration\tin\tour\tdepreciation\tcould\nnegatively\taffect\tour\tfinancial\tresults.\nWe\thave\tinvested\tand\texpect\tto\tcontinue\tto\tinvest\tsignificantly\tin\twhat\twe\tbelieve\tis\tstate\tof\tthe\tart\ttooling,\tmachinery\tand\tother\tmanufacturing\nequipment\tfor\tour\tvarious\tproduct\tlines,\tand\twe\tdepreciate\tthe\tcost\tof\tsuch\tequipment\tover\ttheir\texpected\tuseful\tlives.\tHowever,\tmanufacturing\ntechnology\tmay\tevolve\trapidly,\tand\twe\tmay\tdecide\tto\tupdate\tour\tmanufacturing\tprocess\twith\tcutting-edge\tequipment\tmore\tquickly\tthan\texpected.\nMoreover,\twe\tare\tcontinually\timplementing\tlearnings\tas\tour\tengineering\tand\tmanufacturing\texpertise\tand\tefficiency\tincrease,\twhich\tmay\tresult\tin\tour\nability\tto\tmanufacture\tour\tproducts\tusing\tless\tof\tour\tcurrently\tinstalled\tequipment.\tAlternatively,\tas\twe\tramp\tand\tmature\tthe\tproduction\tof\tour\nproducts\tto\thigher\tlevels,\tour\tlearnings\tmay\tcause\tus\tto\tdiscontinue\tthe\tuse\tof\talready\tinstalled\tequipment\tin\tfavor\tof\tdifferent\tor\tadditional\tequipment."}


created_at: 2024-04-06 13:59:07
topic: persistent://default/default/19a10f6c-edf5-4774-8347-509021fad678
id: c5d6061a-f41d-11ee-a3fb-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "tesla-annual-reports/tsla-10k_20191231-gen_0.pdf", "page": 33, "chroma:document": "The\tuseful\tlife\tof\tany\tequipment\tthat\twould\tbe\tretired\tearly\tas\ta\tresult\twould\tbe\tshortened,\tcausing\tthe\tdepreciation\ton\tsuch\tequipment\tto\tbe\naccelerated,\tand\tour\tresults\tof\toperations\tcould\tbe\tnegatively\timpacted.\nWe\tare\texposed\tto\tfluctuations\tin\tcurrency\texchange\trates,\twhich\tcould\tnegatively\taffect\tour\tfinancial\tresults.\nWe\ttransact\tbusiness\tglobally\tin\tmultiple\tcurrencies\tand\thave\tforeign\tcurrency\trisks\trelated\tto\tour\trevenue,\tcosts\tof\trevenue\tand\toperating\nexpenses\tdenominated\tin\tcurrencies\tother\tthan\tthe\tU.S.\tdollar,\tprimarily\tthe\teuro,\tJapanese\tyen,\tCanadian\tdollar,\tChinese\tyuan\tand\tNorwegian\tkrone.\nTo\tthe\textent\twe\thave\tsignificant\trevenues\tdenominated\tin\tsuch\tforeign\tcurrencies,\tany\tstrengthening\tof\tthe\tU.S.\tdollar\twould\ttend\tto\treduce\tour\nrevenues\tas\tmeasured\tin\tU.S.\tdollars,\tas\twe\thave\thistorically\texperienced.\tIn\taddition,\ta\tportion\tof\tour\tcosts\tand\texpenses\thave\tbeen,\tand\twe\tanticipate\nwill\tcontinue\tto\tbe,\tdenominated\tin\tforeign\tcurrencies,\tincluding\tthe\tJapanese\tyen.\tIf\twe\tdo\tnot\thave\tfully\toffsetting\trevenues\tin\tthese\tcurrencies\tand\tif\nthe\tvalue\tof\tthe\tU.S.\tdollar\tdepreciates\tsignificantly\tagainst\tthese\tcurrencies,\tour\tcosts\tas\tmeasured\tin\tU.S.\tdollars\tas\ta\tpercent\tof\tour\trevenues\twill\ncorrespondingly\tincrease\tand\tour\tmargins\twill\tsuffer.\tMoreover,\twhile\twe\tundertake\tlimited\thedging\tactivities\tintended\tto\toffset\tthe\timpact\tof\tcurrency\ntranslation\texposure,\tit\tis\timpossible\tto\tpredict\tor\teliminate\tsuch\timpact.\tAs\ta\tresult,\tour\toperating\tresults\tcould\tbe\tadversely\taffected.\n31"}


created_at: 2024-04-06 13:59:07
topic: persistent://default/default/19a10f6c-edf5-4774-8347-509021fad678
id: c5d60674-f41d-11ee-a3fb-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "tesla-annual-reports/tsla-10k_20191231-gen_0.pdf", "page": 34, "chroma:document": "We\tmay\tface\tregulatory\tlimitations\ton\tour\tability\tto\tsell\tvehicles\tdirectly\twhich\tcould\tmaterially\tand\tadversely\taffect\tour\tability\tto\nsell\tour\telectric\tvehicles.\nWe\tsell\tour\tvehicles\tdirectly\tto\tconsumers\tusing\tmeans\tthat\twe\tbelieve\twill\tmaximize\tour\treach,\tcurrently\tincluding\tthrough\tour\twebsite\tand\nour\town\tstores.\tWhile\twe\tintend\tto\tcontinue\tto\tleverage\tour\tmost\teffective\tsales\tstrategies,\twe\tmay\tnot\tbe\table\tto\tsell\tour\tvehicles\tthrough\tour\town\nstores\tin\teach\tstate\tin\tthe\tU.S.,\tas\tsome\tstates\thave\tlaws\tthat\tmay\tbe\tinterpreted\tto\timpose\tlimitations\ton\tthis\tdirect-to-consumer\tsales\tmodel.\tIn\tsome\nstates,\twe\thave\talso\topened\tgalleries\tto\teducate\tand\tinform\tcustomers\tabout\tour\tproducts,\tbut\tsuch\tlocations\tdo\tnot\tactually\ttransact\tin\tthe\tsale\tof\nvehicles.\tThe\tapplication\tof\tthese\tstate\tlaws\tto\tour\toperations\tcontinues\tto\tbe\tdifficult\tto\tpredict.\tLaws\tin\tsome\tstates\thave\tlimited\tour\tability\tto\tobtain\ndealer\tlicenses\tfrom\tstate\tmotor\tvehicle\tregulators\tand\tmay\tcontinue\tto\tdo\tso.\nIn\taddition,\tdecisions\tby\tregulators\tpermitting\tus\tto\tsell\tvehicles\tmay\tbe\tchallenged\tby\tdealer\tassociations\tand\tothers\tas\tto\twhether\tsuch\ndecisions\tcomply\twith\tapplicable\tstate\tmotor\tvehicle\tindustry\tlaws.\tWe\thave\tprevailed\tin\tmany\tof\tthese\tlawsuits\tand\tsuch\tresults\thave\treinforced\tour\ncontinuing\tbelief\tthat\tstate\tlaws\twere\tnot\tdesigned\tto\tprevent\tour\tdistribution\tmodel.\tIn\tsome\tstates,\tthere\thave\talso\tbeen\tregulatory\tand\tlegislative\nefforts\tby\tdealer\tassociations\tto\tpropose\tlaws\tthat,\tif\tenacted,\twould\tprevent\tus\tfrom\tobtaining\tdealer\tlicenses\tin\ttheir\tstates\tgiven\tour\tcurrent\tsales"}


created_at: 2024-04-06 13:59:07
topic: persistent://default/default/19a10f6c-edf5-4774-8347-509021fad678
id: c5d606ce-f41d-11ee-a3fb-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "tesla-annual-reports/tsla-10k_20191231-gen_0.pdf", "page": 34, "chroma:document": "model.\tA\tfew\tstates\thave\tpassed\tlegislation\tthat\tclarifies\tour\tability\tto\toperate,\tbut\tat\tthe\tsame\ttime\tlimits\tthe\tnumber\tof\tdealer\tlicenses\twe\tcan\tobtain\nor\tstores\tthat\twe\tcan\toperate.\nInternationally,\tthere\tmay\tbe\tlaws\tin\tjurisdictions\twe\thave\tnot\tyet\tentered\tor\tlaws\twe\tare\tunaware\tof\tin\tjurisdictions\twe\thave\tentered\tthat\tmay\nrestrict\tour\tsales\tor\tother\tbusiness\tpractices.\tEven\tfor\tthose\tjurisdictions\twe\thave\tanalyzed,\tthe\tlaws\tin\tthis\tarea\tcan\tbe\tcomplex,\tdifficult\tto\tinterpret\nand\tmay\tchange\tover\ttime.\tContinued\tregulatory\tlimitations\tand\tother\tobstacles\tinterfering\twith\tour\tability\tto\tsell\tvehicles\tdirectly\tto\tconsumers\tcould\nhave\ta\tnegative\tand\tmaterial\timpact\tour\tbusiness,\tprospects,\tfinancial\tcondition\tand\tresults\tof\toperations.\nWe\tmay\tneed\tto\tdefend\tourselves\tagainst\tintellectual\tproperty\tinfringement\tclaims,\twhich\tmay\tbe\ttime-consuming\tand\tcould\ncause\tus\tto\tincur\tsubstantial\tcosts.\nOthers,\tincluding\tour\tcompetitors,\tmay\thold\tor\tobtain\tpatents,\tcopyrights,\ttrademarks\tor\tother\tproprietary\trights\tthat\tcould\tprevent,\tlimit\tor\ninterfere\twith\tour\tability\tto\tmake,\tuse,\tdevelop,\tsell\tor\tmarket\tour\tproducts\tand\tservices,\twhich\tcould\tmake\tit\tmore\tdifficult\tfor\tus\tto\toperate\tour\nbusiness.\tFrom\ttime\tto\ttime,\tthe\tholders\tof\tsuch\tintellectual\tproperty\trights\tmay\tassert\ttheir\trights\tand\turge\tus\tto\ttake\tlicenses,\tand/or\tmay\tbring\tsuits\nalleging\tinfringement\tor\tmisappropriation\tof\tsuch\trights.\tWhile\twe\tendeavor\tto\tobtain\tand\tprotect\tthe\tintellectual\tproperty\trights\tthat\twe\texpect\twill\nallow\tus\tto\tretain\tor\tadvance\tour\tstrategic\tinitiatives,\tthere\tcan\tbe\tno\tassurance\tthat\twe\twill\tbe\table\tto\tadequately\tidentify\tand\tprotect\tthe\tportions\tof"}


created_at: 2024-04-06 13:59:07
topic: persistent://default/default/19a10f6c-edf5-4774-8347-509021fad678
id: c5d60728-f41d-11ee-a3fb-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "tesla-annual-reports/tsla-10k_20191231-gen_0.pdf", "page": 34, "chroma:document": "intellectual\tproperty\tthat\tare\tstrategic\tto\tour\tbusiness,\tor\tmitigate\tthe\trisk\tof\tpotential\tsuits\tor\tother\tlegal\tdemands\tby\tour\tcompetitors.\tAccordingly,\twe\nmay\tconsider\tthe\tentering\tinto\tlicensing\tagreements\twith\trespect\tto\tsuch\trights,\talthough\tno\tassurance\tcan\tbe\tgiven\tthat\tsuch\tlicenses\tcan\tbe\tobtained\non\tacceptable\tterms\tor\tthat\tlitigation\twill\tnot\toccur,\tand\tsuch\tlicenses\tand\tassociated\tlitigation\tcould\tsignificantly\tincrease\tour\toperating\texpenses.\tIn\naddition,\tif\twe\tare\tdetermined\tto\thave\tor\tbelieve\tthere\tis\ta\thigh\tlikelihood\tthat\twe\thave\tinfringed\tupon\ta\tthird\tparty\u2019s\tintellectual\tproperty\trights,\twe\nmay\tbe\trequired\tto\tcease\tmaking,\tselling\tor\tincorporating\tcertain\tcomponents\tor\tintellectual\tproperty\tinto\tthe\tgoods\tand\tservices\twe\toffer,\tto\tpay\nsubstantial\tdamages\tand/or\tlicense\troyalties,\tto\tredesign\tour\tproducts\tand\tservices,\tand/or\tto\testablish\tand\tmaintain\talternative\tbranding\tfor\tour\nproducts\tand\tservices.\tIn\tthe\tevent\tthat\twe\twere\trequired\tto\ttake\tone\tor\tmore\tsuch\tactions,\tour\tbusiness,\tprospects,\toperating\tresults\tand\tfinancial\ncondition\tcould\tbe\tmaterially\tadversely\taffected.\tIn\taddition,\tany\tlitigation\tor\tclaims,\twhether\tor\tnot\tvalid,\tcould\tresult\tin\tsubstantial\tcosts,\tnegative\npublicity\tand\tdiversion\tof\tresources\tand\tmanagement\tattention.\n32"}


created_at: 2024-04-06 13:59:07
topic: persistent://default/default/19a10f6c-edf5-4774-8347-509021fad678
id: c5d60782-f41d-11ee-a3fb-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "tesla-annual-reports/tsla-10k_20191231-gen_0.pdf", "page": 35, "chroma:document": "Our\tfacilities\tor\toperations\tcould\tbe\tadversely\taffected\tby\tevents\toutside\tof\tour\tcontrol,\tsuch\tas\tnatural\tdisasters\n,\twars\n\tor\thealth\nepidemics.\nWe\tmay\tbe\timpacted\tby\tnatural\tdisasters,\twars,\thealth\tepidemics\tor\tother\tevents\toutside\tof\tour\tcontrol.\tFor\texample,\tour\tcorporate\nheadquarters,\tthe\tFremont\tFactory\tand\tGigafactory\tNevada\tare\tlocated\tin\tseismically\tactive\tregions\tin\tNorthern\tCalifornia\tand\tNevada,\tand\tour\nGigafactory\tShanghai\tis\tlocated\tin\ta\tflood-prone\tarea.\tIf\tmajor\tdisasters\tsuch\tas\tearthquakes,\tfloods\tor\tother\tevents\toccur,\tor\tour\tinformation\tsystem\tor\ncommunications\tnetwork\tbreaks\tdown\tor\toperates\timproperly,\tour\theadquarters\tand\tproduction\tfacilities\tmay\tbe\tseriously\tdamaged,\tor\twe\tmay\thave\tto\nstop\tor\tdelay\tproduction\tand\tshipment\tof\tour\tproducts.\tIn\taddition,\tbeginning\tin\tlate\t2019,\tthe\tmedia\thas\treported\ta\tpublic\thealth\tepidemic\toriginating\nin\tChina,\tprompting\tprecautionary\tgovernment-imposed\tclosures\tof\tcertain\ttravel\tand\tbusiness.\tGigafactory\tShanghai\twas\tclosed\tfor\ta\tbrief\ttime\tas\ta\nresult,\tbefore\tit\treopened\tin\tFebruary\t2020\tand\trejoined\tour\tU.S.\tfactories,\twhich\thad\tcontinued\tto\toperate.\t\tIt\tis\tunknown\twhether\tand\thow\tglobal\nsupply\tchains,\tparticularly\tfor\tautomotive\tparts,\tmay\tbe\taffected\tif\tsuch\tan\tepidemic\tpersists\tfor\tan\textended\tperiod\tof\ttime.\tWe\tmay\tincur\texpenses\tor\ndelays\trelating\tto\tsuch\tevents\toutside\tof\tour\tcontrol,\twhich\tcould\thave\ta\tmaterial\tadverse\timpact\ton\tour\tbusiness,\toperating\tresults\tand\tfinancial\ncondition.\nRisks\tRelated\tto\tthe\tOwnership\tof\tOur\tCommon\tStock\nThe\ttrading\tprice\tof\tour\tcommon\tstock\tis\tlikely\tto\tcontinue\tto\tbe\tvolatile."}


created_at: 2024-04-06 13:59:07
topic: persistent://default/default/19a10f6c-edf5-4774-8347-509021fad678
id: c5d607dc-f41d-11ee-a3fb-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "tesla-annual-reports/tsla-10k_20191231-gen_0.pdf", "page": 35, "chroma:document": "The\ttrading\tprice\tof\tour\tcommon\tstock\thas\tbeen\thighly\tvolatile\tand\tcould\tcontinue\tto\tbe\tsubject\tto\twide\tfluctuations\tin\tresponse\tto\tvarious\nfactors,\tsome\tof\twhich\tare\tbeyond\tour\tcontrol.\tOur\tcommon\tstock\thas\texperienced\tan\tintra-day\ttrading\thigh\tof\t$968.99\tper\tshare\tand\ta\tlow\tof\t$176.99\nper\tshare\tover\tthe\tlast\t52\tweeks.\tThe\tstock\tmarket\tin\tgeneral,\tand\tthe\tmarket\tfor\ttechnology\tcompanies\tin\tparticular,\thas\texperienced\textreme\tprice\nand\tvolume\tfluctuations\tthat\thave\toften\tbeen\tunrelated\tor\tdisproportionate\tto\tthe\toperating\tperformance\tof\tthose\tcompanies.\tIn\tparticular,\ta\tlarge\nproportion\tof\tour\tcommon\tstock\thas\tbeen\tand\tmay\tcontinue\tto\tbe\ttraded\tby\tshort\tsellers\twhich\tmay\tput\tpressure\ton\tthe\tsupply\tand\tdemand\tfor\tour\ncommon\tstock,\tfurther\tinfluencing\tvolatility\tin\tits\tmarket\tprice.\tPublic\tperception\tand\tother\tfactors\toutside\tof\tour\tcontrol\tmay\tadditionally\timpact\tthe\nstock\tprice\tof\tcompanies\tlike\tus\tthat\tgarner\ta\tdisproportionate\tdegree\tof\tpublic\tattention,\tregardless\tof\tactual\toperating\tperformance.\tIn\taddition,\tin\nthe\tpast,\tfollowing\tperiods\tof\tvolatility\tin\tthe\toverall\tmarket\tand\tthe\tmarket\tprice\tof\ta\tparticular\tcompany\u2019s\tsecurities,\tsecurities\tclass\taction\tlitigation\nhas\toften\tbeen\tinstituted\tagainst\tthese\tcompanies.\tMoreover,\tstockholder\tlitigation\tlike\tthis\thas\tbeen\tfiled\tagainst\tus\tin\tthe\tpast.\tWhile\twe\tdefend\tsuch\nactions\tvigorously,\tany\tjudgment\tagainst\tus\tor\tany\tfuture\tstockholder\tlitigation\tcould\tresult\tin\tsubstantial\tcosts\tand\ta\tdiversion\tof\tour\tmanagement\u2019s\nattention\tand\tresources.\nWe\tmay\tfail\tto\tmeet\tour\tpublicly\tannounced\tguidance\tor\tother\texpectations\tabout\tour\tbusiness,\twhich\tcould\tcause\tour\tstock\tprice\nto\tdecline."}


created_at: 2024-04-06 13:59:07
topic: persistent://default/default/19a10f6c-edf5-4774-8347-509021fad678
id: c5d60836-f41d-11ee-a3fb-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "tesla-annual-reports/tsla-10k_20191231-gen_0.pdf", "page": 35, "chroma:document": "to\tdecline.\nWe\tmay\tprovide\tfrom\ttime\tto\ttime\tguidance\tregarding\tour\texpected\tfinancial\tand\tbusiness\tperformance,\twhich\tmay\tinclude\tprojections\nregarding\tsales\tand\tproduction,\tas\twell\tas\tanticipated\tfuture\trevenues,\tgross\tmargins,\tprofitability\tand\tcash\tflows.\tCorrectly\tidentifying\tkey\tfactors\naffecting\tbusiness\tconditions\tand\tpredicting\tfuture\tevents\tis\tinherently\tan\tuncertain\tprocess,\tand\tour\tguidance\tmay\tnot\tultimately\tbe\taccurate\tand\thas\nin\tthe\tpast\tbeen\tinaccurate\tin\tcertain\trespects,\tsuch\tas\tthe\ttiming\tof\tnew\tproduct\tmanufacturing\tramps.\tOur\tguidance\tis\tbased\ton\tcertain\tassumptions\nsuch\tas\tthose\trelating\tto\tanticipated\tproduction\tand\tsales\tvolumes\t(which\tgenerally\tare\tnot\tlinear\tthroughout\ta\tgiven\tperiod),\taverage\tsales\tprices,\nsupplier\tand\tcommodity\tcosts,\tand\tplanned\tcost\treductions.\tIf\tour\tguidance\tis\tnot\taccurate\tor\tvaries\tfrom\tactual\tresults\tdue\tto\tour\tinability\tto\tmeet\tour\nassumptions\tor\tthe\timpact\ton\tour\tfinancial\tperformance\tthat\tcould\toccur\tas\ta\tresult\tof\tvarious\trisks\tand\tuncertainties,\tthe\tmarket\tvalue\tof\tour\tcommon\nstock\tcould\tdecline\tsignificantly.\n33"}


created_at: 2024-04-06 13:59:07
topic: persistent://default/default/19a10f6c-edf5-4774-8347-509021fad678
id: c5d60890-f41d-11ee-a3fb-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "tesla-annual-reports/tsla-10k_20191231-gen_0.pdf", "page": 36, "chroma:document": "Transactions\trelating\tto\tour\tconvertible\tnotes\tmay\tdilute\tthe\townership\tinterest\tof\texisting\tstockholders,\tor\tmay\totherwise\ndepress\tthe\tprice\tof\tour\tcommon\tstock.\nThe\tconversion\tof\tsome\tor\tall\tof\tthe\tTesla\tConvertible\tNotes\tor\tthe\tSubsidiary\tConvertible\tNotes\twould\tdilute\tthe\townership\tinterests\tof\nexisting\tstockholders\tto\tthe\textent\twe\tdeliver\tshares\tupon\tconversion\tof\tany\tof\tsuch\tnotes.\tOur\tSubsidiary\tConvertible\tNotes\thave\tbeen\thistorically,\tand\nthe\tother\tTesla\tConvertible\tNotes\tmay\tbecome\tin\tthe\tfuture,\tconvertible\tat\tthe\toption\tof\ttheir\tholders\tprior\tto\ttheir\tscheduled\tterms\tunder\tcertain\ncircumstances.\tIf\tholders\telect\tto\tconvert\ttheir\tconvertible\tnotes,\twe\tcould\tbe\trequired\tto\tdeliver\tto\tthem\ta\tsignificant\tnumber\tof\tshares\tof\tour\tcommon\nstock.\tAny\tsales\tin\tthe\tpublic\tmarket\tof\tthe\tcommon\tstock\tissuable\tupon\tsuch\tconversion\tcould\tadversely\taffect\tprevailing\tmarket\tprices\tof\tour\tcommon\nstock.\tIn\taddition,\tthe\texistence\tof\tthe\tconvertible\tnotes\tmay\tencourage\tshort\tselling\tby\tmarket\tparticipants\tbecause\tthe\tconversion\tof\tsuch\tnotes\tcould\nbe\tused\tto\tsatisfy\tshort\tpositions,\tor\tanticipated\tconversion\tof\tsuch\tnotes\tinto\tshares\tof\tour\tcommon\tstock\tcould\tdepress\tthe\tprice\tof\tour\tcommon\tstock.\nMoreover,\tin\tconnection\twith\teach\tissuance\tof\tthe\tTesla\tConvertible\tNotes,\twe\tentered\tinto\tconvertible\tnote\thedge\ttransactions,\twhich\tare\nexpected\tto\treduce\tthe\tpotential\tdilution\tand/or\toffset\tpotential\tcash\tpayments\twe\tare\trequired\tto\tmake\tin\texcess\tof\tthe\tprincipal\tamount\tupon\nconversion\tof\tthe\tapplicable\tTesla\tConvertible\tNotes.\tWe\talso\tentered\tinto\twarrant\ttransactions\twith\tthe\thedge\tcounterparties,\twhich\tcould\tseparately"}


created_at: 2024-04-06 13:59:07
topic: persistent://default/default/19a10f6c-edf5-4774-8347-509021fad678
id: c5d608ea-f41d-11ee-a3fb-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "tesla-annual-reports/tsla-10k_20191231-gen_0.pdf", "page": 36, "chroma:document": "have\ta\tdilutive\teffect\ton\tour\tcommon\tstock\tto\tthe\textent\tthat\tthe\tmarket\tprice\tper\tshare\tof\tour\tcommon\tstock\texceeds\tthe\tapplicable\tstrike\tprice\tof\tthe\nwarrants\ton\tthe\tapplicable\texpiration\tdates.\tIn\taddition,\tthe\thedge\tcounterparties\tor\ttheir\taffiliates\tmay\tenter\tinto\tvarious\ttransactions\twith\trespect\tto\ntheir\thedge\tpositions,\twhich\tcould\talso\tcause\tor\tprevent\tan\tincrease\tor\ta\tdecrease\tin\tthe\tmarket\tprice\tof\tour\tcommon\tstock\tor\tthe\tconvertible\tnotes.\nElon\tMusk\thas\tpledged\tshares\tof\tour\tcommon\tstock\tto\tsecure\tcertain\tbank\tborrowings.\tIf\tMr.\tMusk\twere\tforced\tto\tsell\tthese\nshares\tin\torder\tto\tsatisfy\this\tloan\tobligations,\tsuch\tsales\tcould\tcause\tour\tstock\tprice\tto\tdecline.\nCertain\tbanking\tinstitutions\thave\tmade\textensions\tof\tcredit\tto\tElon\tMusk,\tour\tChief\tExecutive\tOfficer,\ta\tportion\tof\twhich\twas\tused\tto\tpurchase\nshares\tof\tcommon\tstock\tin\tcertain\tof\tour\tpublic\tofferings\tand\tprivate\tplacements\tat\tthe\tsame\tprices\toffered\tto\tthird\tparty\tparticipants\tin\tsuch\tofferings\nand\tplacements.\tWe\tare\tnot\ta\tparty\tto\tthese\tloans,\twhich\tare\tpartially\tsecured\tby\tpledges\tof\ta\tportion\tof\tthe\tTesla\tcommon\tstock\tcurrently\towned\tby\nMr.\tMusk.\tIf\tthe\tprice\tof\tour\tcommon\tstock\twere\tto\tdecline\tsubstantially,\tMr.\tMusk\tmay\tbe\tforced\tby\tone\tor\tmore\tof\tthe\tbanking\tinstitutions\tto\tsell\nshares\tof\tTesla\tcommon\tstock\tto\tsatisfy\this\tloan\tobligations\tif\the\tcould\tnot\tdo\tso\tthrough\tother\tmeans.\tAny\tsuch\tsales\tcould\tcause\tthe\tprice\tof\tour\ncommon\tstock\tto\tdecline\tfurther.\nAnti-takeover\tprovisions\tcontained\tin\tour\tgoverning\tdocuments,\tapplicable\tlaws\tand\tour\tconvertible\tnotes\tcould\timpair\ta\ttakeover\nattempt."}


created_at: 2024-04-06 13:59:07
topic: persistent://default/default/19a10f6c-edf5-4774-8347-509021fad678
id: c5d60944-f41d-11ee-a3fb-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "tesla-annual-reports/tsla-10k_20191231-gen_0.pdf", "page": 36, "chroma:document": "attempt.\nOur\tcertificate\tof\tincorporation\tand\tbylaws\tafford\tcertain\trights\tand\tpowers\tto\tour\tboard\tof\tdirectors\tthat\tcould\tcontribute\tto\tthe\tdelay\tor\nprevention\tof\tan\tacquisition\tthat\tit\tdeems\tundesirable.\tWe\tare\talso\tsubject\tto\tSection\t203\tof\tthe\tDelaware\tGeneral\tCorporation\tLaw\tand\tother\nprovisions\tof\tDelaware\tlaw\tthat\tlimit\tthe\tability\tof\tstockholders\tin\tcertain\tsituations\tto\teffect\tcertain\tbusiness\tcombinations.\tIn\taddition,\tthe\tterms\tof\nour\tconvertible\tnotes\trequire\tus\tto\trepurchase\tsuch\tnotes\tin\tthe\tevent\tof\ta\tfundamental\tchange,\tincluding\ta\ttakeover\tof\tour\tcompany.\tAny\tof\tthe\nforegoing\tprovisions\tand\tterms\tthat\thas\tthe\teffect\tof\tdelaying\tor\tdeterring\ta\tchange\tin\tcontrol\tcould\tlimit\tthe\topportunity\tfor\tour\tstockholders\tto\treceive\na\tpremium\tfor\ttheir\tshares\tof\tour\tcommon\tstock,\tand\tcould\talso\taffect\tthe\tprice\tthat\tsome\tinvestors\tare\twilling\tto\tpay\tfor\tour\tcommon\tstock.\n\t\nITEM\t1B.\nUNRESOLVED\tSTAFF\tCOMMENTS\nNone.\n34"}


created_at: 2024-04-06 13:59:07
topic: persistent://default/default/19a10f6c-edf5-4774-8347-509021fad678
id: c5d6099e-f41d-11ee-a3fb-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "tesla-annual-reports/tsla-10k_20191231-gen_0.pdf", "page": 37, "chroma:document": "ITEM\t2.\nPROPERTIES\nWe\tare\theadquartered\tin\tPalo\tAlto,\tCalifornia.\tOur\tprincipal\tfacilities\tinclude\ta\tlarge\tnumber\tof\tproperties\tin\tNorth\tAmerica,\tEurope\tand\tAsia\nutilized\tfor\tmanufacturing\tand\tassembly,\twarehousing,\tengineering,\tretail\tand\tservice\tlocations,\tSupercharger\tsites,\tand\tadministrative\tand\tsales\noffices.\tOur\tfacilities\tare\tused\tto\tsupport\tboth\tof\tour\treporting\tsegments,\tand\tare\tsuitable\tand\tadequate\tfor\tthe\tconduct\tof\tour\tbusiness.\tWe\tprimarily\nlease\tsuch\tfacilities\twith\tthe\texception\tof\tsome\tmanufacturing\tfacilities.\tThe\tfollowing\ttable\tsets\tforth\tthe\tlocation\tof\tour\tprimary\towned\tand\tleased\nmanufacturing\tfacilities.\n\t\nPrimary\tManufacturing\tFacilities\n\t\nLocation\n\t\nOwned\tor\tLeased\nFremont\tFactory\n\t\nFremont,\tCalifornia\n\t\nOwned\nGigafactory\tNevada\n\t\nSparks,\tNevada\n\t\nOwned\nGigafactory\tNew\tYork\n\t\nBuffalo,\tNew\tYork\n\t\nLeased\nGigafactory\tShanghai\n\t\nShanghai,\tChina\n\t\n*\n\t\n*\nWe\town\tthe\tbuilding\tand\tthe\tland\tuse\trights\twith\tan\tinitial\tterm\tof\t50\tyears.\tThe\tland\tuse\trights\tare\ttreated\tas\toperating\tlease\tright-of-use\nassets.\nITEM\t3.\nLEGAL\tPROCEEDINGS\nFor\ta\tdescription\tof\tour\tmaterial\tpending\tlegal\tproceedings,\tplease\tsee\tNote\t16,\t\nCommitments\tand\tContingencies\n,\tto\tthe\tconsolidated\tfinancial\nstatements\tincluded\telsewhere\tin\tthis\tAnnual\tReport\ton\tForm\t10-K.\nIn\taddition,\tthe\tfollowing\tmatters\tare\tbeing\tdisclosed\tpursuant\tto\tItem\t103\tof\tRegulation\tS-K\tbecause\tthey\trelate\tto\tenvironmental\tregulations\nand\taggregate\tcivil\tpenalties\tcould\tpotentially\texceed\t$100,000."}


created_at: 2024-04-06 13:59:07
topic: persistent://default/default/19a10f6c-edf5-4774-8347-509021fad678
id: c5d60a2a-f41d-11ee-a3fb-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "tesla-annual-reports/tsla-10k_20191231-gen_0.pdf", "page": 37, "chroma:document": "The\tBay\tArea\tAir\tQuality\tManagement\tDistrict\t(the\t\u201cBAAQMD\u201d)\thas\tissued\tnotices\tof\tviolation\tto\tus\trelating\tto\tair\tpermitting\tfor\tthe\tFremont\nFactory,\tbut\thas\tnot\tinitiated\tformal\tproceedings.\tWe\tdispute\tcertain\tof\tthese\tallegations\tand\tare\tworking\tto\tresolve\tthem\twith\tthe\tBAAQMD.\tFurther,\nwe\tassert\tthat\tthere\thas\tbeen\tno\trelated\tadverse\tcommunity\tor\tenvironmental\timpact.\tWhile\twe\tcannot\tpredict\tthe\toutcome\tof\tthis\tmatter,\tincluding\nthe\tfinal\tamount\tof\tany\tpenalties,\tit\tis\tnot\texpected\tto\thave\ta\tmaterial\tadverse\timpact\ton\tour\tbusiness.\nWe\thave\t\nalso\treceived\tan\tinformation\trequest\tfrom\tthe\tU.S.\tEnvironmental\tProtection\tAgency\t(the\t\u201cEPA\u201d)\tunder\tSection\t114(a)\tof\tthe\tClean\tAir\nAct\tof\t1963,\tas\tamended\t(the\t\u201cClean\tAir\tAct\u201d).\tThe\tEPA\tis\treviewing\tthe\tcompliance\tof\tour\tFremont\tFactory\toperations\twith\tapplicable\trequirements\nunder\tthe\tClean\tAir\tAct,\tand\twe\tare\tworking\twith\tthe\tEPA\tin\tresponding\tto\tthis\trequest.\tWhile\tthe\toutcome\tof\tthis\tmatter\tcannot\tbe\tdetermined\tat\tthis\ntime,\tit\tis\tnot\tcurrently\texpected\tto\thave\ta\tmaterial\tadverse\n\timpact\ton\tour\tbusiness.\n\t\nI\nTEM\t4.\nMINE\tSAFETY\tDISCLOSURES\nNot\tapplicable.\n\t\n\t\n\t\n35"}


created_at: 2024-04-06 13:59:07
topic: persistent://default/default/19a10f6c-edf5-4774-8347-509021fad678
id: c5d60a84-f41d-11ee-a3fb-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "tesla-annual-reports/tsla-10k_20191231-gen_0.pdf", "page": 38, "chroma:document": "PART\tII\nI\nTEM\t5.\nMARKET\tFOR\tREGISTRANT\u2019S\tCOMMON\tEQUITY,\tRELATED\tSTOCKHOLDER\tMATTERS\tAND\tISSUER\tPURCHASES\tOF\nEQUITY\tSECURITIES\nMarket\tInformation\nOur\tcommon\tstock\thas\ttraded\ton\tThe\tNASDAQ\tGlobal\tSelect\tMarket\tunder\tthe\tsymbol\t\u201cTSLA\u201d\tsince\tit\tbegan\ttrading\ton\tJune\t29,\t2010.\tOur\ninitial\tpublic\toffering\twas\tpriced\tat\t$17.00\tper\tshare\ton\tJune\t28,\t2010.\nHolders\nAs\tof\tFebruary\t7,\t2020,\tthere\twere\t1,685\tholders\tof\trecord\tof\tour\tcommon\tstock.\tA\tsubstantially\tgreater\tnumber\tof\tholders\tof\tour\tcommon\nstock\tare\t\u201cstreet\tname\u201d\tor\tbeneficial\tholders,\twhose\tshares\tare\theld\tby\tbanks,\tbrokers\tand\tother\tfinancial\tinstitutions.\nDividend\tPolicy\nWe\thave\tnever\tdeclared\tor\tpaid\tcash\tdividends\ton\tour\tcommon\tstock.\tWe\tcurrently\tdo\tnot\tanticipate\tpaying\tany\tcash\tdividends\tin\tthe\nforeseeable\tfuture.\tAny\tfuture\tdetermination\tto\tdeclare\tcash\tdividends\twill\tbe\tmade\tat\tthe\tdiscretion\tof\tour\tboard\tof\tdirectors,\tsubject\tto\tapplicable\nlaws,\tand\twill\tdepend\ton\tour\tfinancial\tcondition,\tresults\tof\toperations,\tcapital\trequirements,\tgeneral\tbusiness\tconditions\tand\tother\tfactors\tthat\tour\nboard\tof\tdirectors\tmay\tdeem\trelevant.\nStock\tPerformance\tGraph\nThis\tperformance\tgraph\tshall\tnot\tbe\tdeemed\t\u201cfiled\u201d\tfor\tpurposes\tof\tSection\t18\tof\tthe\tSecurities\tExchange\tAct\tof\t1934,\tas\tamended\t(the\n\u201cExchange\tAct\u201d),\tor\tincorporated\tby\treference\tinto\tany\tfiling\tof\tTesla,\tInc.\tunder\tthe\tSecurities\tAct\tof\t1933,\tas\tamended\t(the\t\u201cSecurities\tAct\u201d),\tor\tthe\nExchange\tAct,\texcept\tas\tshall\tbe\texpressly\tset\tforth\tby\tspecific\treference\tin\tsuch\tfiling.\n36"}


created_at: 2024-04-06 13:59:07
topic: persistent://default/default/19a10f6c-edf5-4774-8347-509021fad678
id: c5d60ae8-f41d-11ee-a3fb-0242ac1c000c
encoding: FLOAT32
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{"source": "tesla-annual-reports/tsla-10k_20191231-gen_0.pdf", "page": 39, "chroma:document": "The\tfollowing\tgraph\tshows\ta\tcomparison,\tfrom\tJanuary\t1,\t201\n5\n\tthrough\tDecember\t31,\t201\n9\n,\tof\tthe\tcumulative\ttotal\treturn\ton\tour\tcommon\nstock,\tThe\tNASDAQ\tComposite\tIndex\tand\ta\tgroup\tof\tall\tpublic\tcompanies\tsharing\tthe\tsame\tSIC\tcode\tas\tus,\twhich\tis\tSIC\tcode\t3711,\t\u201cMotor\tVehicles\nand\tPassenger\tCar\tBodies\u201d\t(Motor\tVehicles\tand\tPassenger\tCar\tBodies\tPublic\tCompany\tGroup).\tSuch\treturns\tare\tbased\ton\thistorical\tresults\tand\tare\tnot\nintended\tto\tsuggest\tfuture\tperformance.\tData\tfor\tThe\tNASDAQ\tComposite\tIndex\tand\tthe\tMotor\tVehicles\tand\tPassenger\tCar\tBodies\tPublic\tCompany\nGroup\tassumes\tan\tinvestment\tof\t$100\ton\tJanuary\t1,\t201\n5\n\tand\treinvestment\tof\tdividends.\tWe\thave\tnever\tdeclared\tor\tpaid\tcash\tdividends\ton\tour\ncommon\tstock\tnor\tdo\twe\tanticipate\tpaying\tany\tsuch\tcash\tdividends\tin\tthe\tforeseeable\tfuture.\n\t\n\t\nUnregistered\tSales\tof\tEquity\tSecurities\nNone.\nPurchases\tof\tEquity\tSecurities\tby\tthe\tIssuer\tand\tAffiliated\tPurchasers\nNone.\n\t\n\t\n37"}


created_at: 2024-04-06 13:59:07
topic: persistent://default/default/19a10f6c-edf5-4774-8347-509021fad678
id: c5d60b42-f41d-11ee-a3fb-0242ac1c000c
encoding: FLOAT32
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{"source": "tesla-annual-reports/tsla-10k_20191231-gen_0.pdf", "page": 40, "chroma:document": "I\nTEM\t6.\nSELECTED\tCONSOLIDATED\tFINANCIAL\tDATA\nThe\tfollowing\tselected\tconsolidated\tfinancial\tdata\tshould\tbe\tread\tin\tconjunction\twith\t\u201cManagement\u2019s\tDiscussion\tand\tAnalysis\tof\tFinancial\nCondition\tand\tResults\tof\tOperations\u201d\tand\tthe\tconsolidated\tfinancial\tstatements\tand\tthe\trelated\tnotes\tincluded\telsewhere\tin\tthis\tAnnual\tReport\ton\nForm\t10-K\tand\tfrom\tthe\thistorical\tconsolidated\tfinancial\tstatements\tnot\tincluded\therein\tto\tfully\tunderstand\tfactors\tthat\tmay\taffect\tthe\tcomparability\tof\nthe\tinformation\tpresented\tbelow\t(in\tmillions,\texcept\tper\tshare\tdata).\n\t\n\t\n\t\nYear\tEnded\tDecember\t31,\n\t\n\t\n\t\n2019\t(3)\n\t\n\t\n2018\t(2)\n\t\n\t\n2017\n\t\n\t\n2016\t(1)\n\t\n\t\n2015\n\t\nConsolidated\tStatements\tof\tOperations\tData:\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\nTotal\trevenues\n\t\n$\n24,578\n\t\n\t\n$\n21,461\n\t\n\t\n$\n11,759\n\t\n\t\n$\n7,000\n\t\n\t\n$\n4,046\n\t\nGross\tprofit\n\t\n$\n4,069\n\t\n\t\n$\n4,042\n\t\n\t\n$\n2,223\n\t\n\t\n$\n1,599\n\t\n\t\n$\n924\n\t\nLoss\tfrom\toperations\n\t\n$\n(69\n)\n\t\n$\n(388\n)\n\t\n$\n(1,632\n)\n\t\n$\n(667\n)\n\t\n$\n(717\n)\nNet\tloss\tattributable\tto\tcommon\tstockholders\n\t\n$\n(862\n)\n\t\n$\n(976\n)\n\t\n$\n(1,962\n)\n\t\n$\n(675\n)\n\t\n$\n(889\n)\nNet\tloss\tper\tshare\tof\tcommon\tstock"}


created_at: 2024-04-06 13:59:07
topic: persistent://default/default/19a10f6c-edf5-4774-8347-509021fad678
id: c5d60b9c-f41d-11ee-a3fb-0242ac1c000c
encoding: FLOAT32
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{"source": "tesla-annual-reports/tsla-10k_20191231-gen_0.pdf", "page": 40, "chroma:document": ")\nNet\tloss\tper\tshare\tof\tcommon\tstock\n\t\t\tattributable\tto\tcommon\tstockholders,\tbasic\n\t\t\tand\tdiluted\n\t\n$\n(4.92\n)\n\t\n$\n(5.72\n)\n\t\n$\n(11.83\n)\n\t\n$\n(4.68\n)\n\t\n$\n(6.93\n)\nWeighted\taverage\tshares\tused\tin\tcomputing\n\t\t\tnet\tloss\tper\tshare\tof\tcommon\tstock,\tbasic\n\t\t\tand\tdiluted\n\t\n\t\n177\n\t\n\t\n\t\n171\n\t\n\t\n\t\n166\n\t\n\t\n\t\n144\n\t\n\t\n\t\n128\n\t\n\t\n\t\nAs\tof\tDecember\t31,\n\t\n\t\n\t\n2019\t(3)\n\t\n\t\n2018\t(2)\n\t\n\t\n2017\n\t\n\t\n2016\t(1)\n\t\n\t\n2015\n\t\nConsolidated\tBalance\tSheet\tData:\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\nWorking\t(deficit)\tcapital\n\t\n$\n1,436\n\t\n\t\n$\n(1,686\n)\n\t\n$\n(1,104\n)\n\t\n$\n433\n\t\n\t\n$\n(29\n)\nTotal\tassets\n\t\n\t\n34,309\n\t\n\t\n\t\n29,740\n\t\n\t\n\t\n28,655\n\t\n\t\n\t\n22,664\n\t\n\t\n\t\n8,068\n\t\nTotal\tlong-term\tobligations\n\t\n\t\n15,532\n\t\n\t\n\t\n13,434\n\t\n\t\n\t\n15,348\n\t\n\t\n\t\n10,923\n\t\n\t\n\t\n4,126\n\t\n(1)\nWe\tacquired\tSolarCity\tCorporation\t(\u201cSolarCity\u201d)\ton\tNovember\t21,\t2016.\tSolarCity\u2019s\tfinancial\tresults\thave\tbeen\tincluded\tin\tour\tfinancial\tresults"}


created_at: 2024-04-06 13:59:07
topic: persistent://default/default/19a10f6c-edf5-4774-8347-509021fad678
id: c5d60bf6-f41d-11ee-a3fb-0242ac1c000c
encoding: FLOAT32
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{"source": "tesla-annual-reports/tsla-10k_20191231-gen_0.pdf", "page": 40, "chroma:document": "from\tthe\tacquisition\tdate\tas\tpreviously\treported\tin\tour\tAnnual\tReport\ton\tForm\t10-K\tfor\tthe\tyear\tended\tDecember\t31,\t2016.\n(2)\nWe\tadopted\tASC\t606\tin\t2018.\tPrior\tperiods\thave\tnot\tbeen\trevised.\tSee\tNote\t2,\t\nSummary\tof\tSignificant\tAccounting\tPolicies\n,\tof\tthe\tnotes\tto\tthe\nconsolidated\tfinancial\tstatements\tincluded\telsewhere\tin\tthis\tAnnual\tReport\ton\tForm\t10-K\tfor\tfurther\tdetails.\n(3)\nIncludes\tthe\timpact\tof\tthe\tadoption\tof\tthe\tnew\tlease\taccounting\tstandard\tin\t2019.\tPrior\tperiods\thave\tnot\tbeen\trevised.\tSee\tNote\t2,\t\nSummary\tof\nSignificant\tAccounting\tPolicies\n,\tof\tthe\tnotes\tto\tthe\tconsolidated\tfinancial\tstatements\tincluded\telsewhere\tin\tthis\tAnnual\tReport\ton\tForm\t10-K\tfor\nfurther\tdetails.\n\t\n\t\n\t\n38"}


created_at: 2024-04-06 13:59:07
topic: persistent://default/default/19a10f6c-edf5-4774-8347-509021fad678
id: c5d60c50-f41d-11ee-a3fb-0242ac1c000c
encoding: FLOAT32
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{"source": "tesla-annual-reports/tsla-10k_20191231-gen_0.pdf", "page": 41, "chroma:document": "I\nTEM\t7.\nMANAGEMENT\u2019S\tDISCUSSION\tAND\tANALYSIS\tOF\tFINANCIAL\tCONDITION\tAND\tRESULTS\tOF\tOPERATIONS\nThe\tfollowing\tdiscussion\tand\tanalysis\tshould\tbe\tread\tin\tconjunction\twith\tthe\tconsolidated\tfinancial\tstatements\tand\tthe\trelated\tnotes\tincluded\nelsewhere\tin\tthis\tAnnual\tReport\ton\tForm\t10-K.\n\t\nFor\tdiscussion\trelated\tto\tchanges\tin\tfinancial\tcondition\tand\tthe\tresults\tof\toperations\tfor\tfiscal\tyear\t2017-\nrelated\titems,\trefer\tto\tPart\tII,\tItem\t7.\tManagement's\tDiscussion\tand\tAnalysis\tof\tFinancial\tCondition\tand\tResults\tof\tOperations\tin\tour\tAnnual\tReport\ton\nForm\t10-K\tfor\tfiscal\tyear\t2018,\twhich\twas\tfiled\twith\tthe\tSecurities\tand\tExchange\tCommission\ton\tFebruary\t19,\t2019.\nOverview\tand\t2019\tHighlights\nOur\tmission\tis\tto\taccelerate\tthe\tworld\u2019s\ttransition\tto\tsustainable\tenergy.\tWe\tdesign,\tdevelop,\tmanufacture,\tlease\tand\tsell\thigh-performance\tfully\nelectric\tvehicles,\tsolar\tenergy\tgeneration\tsystems\tand\tenergy\tstorage\tproducts.\tWe\talso\toffer\tmaintenance,\tinstallation,\toperation\tand\tother\tservices\nrelated\tto\tour\tproducts.\nAutomotive\nDuring\t2019,\twe\tachieved\tannual\tvehicle\tdelivery\tand\tproduction\trecords\tof\t367,656\tand\t365,232\ttotal\tvehicles,\trespectively.\tWe\talso\tlaid\tthe\ngroundwork\tfor\tour\tnext\tphase\tof\tgrowth\twith\tthe\tcommencement\tof\tModel\t3\tproduction\tat\tGigafactory\tShanghai;\tpreparations\tat\tthe\tFremont\tFactory\nfor\tModel\tY\tproduction,\twhich\tcommenced\tin\tthe\tfirst\tquarter\tof\t2020;\tthe\tselection\tof\tBerlin,\tGermany\tas\tthe\tsite\tfor\tour\tnext\tfactory\tfor\tthe\tEuropean\nmarket;\tand\tthe\tunveiling\tof\tCybertruck.\tWe\talso\tcontinued\tto\tenhance\tour\tuser\texperience\tthrough\timproved\tAutopilot\tand\tFSD\tfeatures,\tincluding\tthe"}


created_at: 2024-04-06 13:59:07
topic: persistent://default/default/19a10f6c-edf5-4774-8347-509021fad678
id: c5d60caa-f41d-11ee-a3fb-0242ac1c000c
encoding: FLOAT32
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{"source": "tesla-annual-reports/tsla-10k_20191231-gen_0.pdf", "page": 41, "chroma:document": "introduction\tof\ta\tnew\tpowerful\ton-board\tFSD\tcomputer\tand\ta\tnew\tSmart\tSummon\tfeature,\tand\tthe\texpansion\tof\ta\tunique\tset\tof\tin-car\tentertainment\noptions.\nEnergy\tGeneration\tand\tStorage\nWe\trevamped\tkey\taspects\tof\tour\tsolar\toperations\tin\t2019\tby\tstreamlining\ttraditionally\tcomplex\tordering,\tpermitting,\tinstallation\tand\tback-end\nservice\tprocesses\tto\tenhance\tthe\tcustomer\texperience,\tespecially\tfor\tretrofit\tsolar\tinstallations.\tOur\tsolar\tdeployments\tgrew\tapproximately\t48%\tand\n26%,\tquarter-over-quarter,\tin\tthe\tsecond\thalf\tof\tthe\tyear.\tWe\talso\tdeployed\t1.65\tGWh\tof\tenergy\tstorage\tin\t2019,\tmore\tthan\tthe\taggregate\tof\tall\tprior\nyears.\tFinally,\twe\tfurther\tevolved\tour\tproduct\tofferings\tby\tlaunching\tthe\tthird\tgeneration\tof\tthe\tSolar\tRoof,\tfor\twhich\twe\tare\texpanding\tboth\tour\nmanufacturing\tand\tinstallation\tcapabilities,\tand\tMegapack,\tour\tlargest\tutility-scale\tenergy\tstorage\tproduct\tto\tdate.\nManagement\tOpportunities,\tChallenges\tand\tRisks\tand\t2020\tOutlook\nAutomotive\u2014Production\nA\tkey\tfocus\tin\t2020\twill\tbe\tour\tefforts\ttowards\testablishing\tand\texpanding\tcapacity\tfor\tvehicle\tproduction\tat\tvolume\tacross\tthree\tcontinents.\tAt\nthe\tFremont\tFactory,\twe\tcommenced\tModel\tY\tproduction\tearlier\tthan\tanticipated,\tand\tcombined\twith\tModel\t3,\twe\thave\tinstalled\tannual\tproduction\ncapacity\tfor\t400,000\tvehicles.\tWe\texpect\tto\tfurther\tincrease\tthis\tcapacity\tto\t500,000\tvehicles\tthrough\tthe\tinstallation\tof\tadditional\tequipment.\nAt\tGigafactory\tShanghai,\twe\thave\tinstalled\tannual\tproduction\tcapacity\tfor\t150,000\tModel\t3\tvehicles\t\nthat\twe\tbelieve\twe\twill\teventually\tbe\table\nto\tpush\tto\tactual\trates\tof\tproduction\tin\texcess\tof\tsuch\tnumber"}


created_at: 2024-04-06 13:59:07
topic: persistent://default/default/19a10f6c-edf5-4774-8347-509021fad678
id: c5d60d0e-f41d-11ee-a3fb-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "tesla-annual-reports/tsla-10k_20191231-gen_0.pdf", "page": 41, "chroma:document": ",\tsubject\tto\tlocal\tproduction\tof\tbattery\tpacks,\twhich\twe\tbegan\tramping\tthere\tlater\tthan\nother\tprocesses.\tWe\thave\tcommenced\tconstruction\tof\tthe\tnext\tphase\tof\tGigafactory\tShanghai\tto\tadd\tModel\tY\tmanufacturing\tcapacity\tat\tleast\tequivalent\nto\tthat\tfor\tModel\t3.\tTo\tfinance\tour\tconstruction\tand\texpansion,\tin\tDecember\t2019\tour\tlocal\tsubsidiary\tentered\tinto\ta\n\tRMB\t9.0\tbillion\t(or\tthe\tequivalent\namount\tin\tU.S.\tdollars)\tfixed\tasset\tterm\tfacility\tand\ta\tRMB\t2.25\tbillion\t(or\tthe\tequivalent\tamount\tin\tU.S.\tdollars)\tworking\tcapital\trevolving\tfacility,\tpart\nof\twhich\twas\tused\tto\trepay\t\na\tRMB\t3.5\tbillion\tbridge\tloan\tentered\tinto\tin\tMarch\t2019\n.\tWe\tare\tsupplementing\tsuch\tfinancing\twith\tlimited\tdirect\tcapital\nexpenditures.\n39"}


created_at: 2024-04-06 13:59:07
topic: persistent://default/default/19a10f6c-edf5-4774-8347-509021fad678
id: c5d60d68-f41d-11ee-a3fb-0242ac1c000c
encoding: FLOAT32
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{"source": "tesla-annual-reports/tsla-10k_20191231-gen_0.pdf", "page": 42, "chroma:document": "Finally,\t\nwe\thave\tselected\n\tGermany\n\tas\tthe\tsite\tof\tour\tnext\tfactory\n\tfor\t\nmanufacturing\tvehicles\tfor\t\nthe\tEuropean\tmarke\nt,\tdue\tto\tits\tstrong\nmanufacturing\tand\tengineering\tpresence\n.\tHowever,\tthe\tconstruction\tof\tand\tramp\tat\n\tGigafactory\tBerlin,\tas\twell\tas\tat\n\tGigafactory\tShanghai\n,\t\nare\tsubject\nto\ta\tnumber\tof\tuncertainties\tinherent\tin\tall\tnew\tmanufacturing\toperations,\t\nincluding\tongoing\tcompliance\twith\tregulatory\trequirements,\tmaintenance\tof\noperational\tlicenses\tand\tapprovals\tfor\tadditional\te\nxpansion\n,\tpotential\tsupply\tchain\tconstraints,\thiring,\ttraining\tand\tretention\tof\tqualified\temployees,\nand\tthe\tpace\tof\tbringing\tproduction\tequipment\tand\tprocesses\tonline\twith\tthe\tcapability\tto\tmanufacture\thigh-quality\tunits\tat\tscale\n.\tUltimately,\tachieving\nincreased\ttotal\tvehicle\tproduction\tcost-effectively\tacross\tall\tof\tour\tmanufacturing\toperations\twill\trequire\tthat\twe\ttimely\taddress\tany\tbottlenecks\tthat\nmay\tarise\tas\twe\tramp,\testablish\tand\tmaintain\tsustained\tsupplier\tcapacity,\tand\tsuccessfully\tutilize\tmanufacturing\tprocesses\tat\tthe\tmaximum\toutput\nrates\tthat\twe\thave\tplanned\tfor\tthem.\nAutomotive\u2014Demand\tand\tSales\nAs\tthe\tautomotive\tindustry\tcontinues\tto\tvalidate\tand\tgrow\tthe\tmarket\tfor\telectric\tvehicles,\twe\tare\tgenerating\tdemand\tand\tnew\tcustomers\teven\nwithout\ttraditional\tmarketing\tand\twith\trelatively\tlow\tmarketing\tcosts,\tand\tin\t2019\tour\torders\tshifted\tto\toriginating\tmostly\tfrom\tnew\tcustomers\twithout\nprior\treservations.\tProduction\tat\tGigafactory\tShanghai\tallows\tus\tto\toffer\tModel\t3\tin\tChina\tat\tcompetitive\tlocal\tpricing\tand\tmore\tquickly,\twhich\tshould\ndrive\tfurther\tdemand\tand\topportunity\tin\tthe\tworld\u2019s\tlargest\tmarket\tfor\tmid-sized\tpremium\tsedans,\tand\twe\texpect\ta\tsimilar\timpact\tin\tChina\tfor\tModel\tY"}


created_at: 2024-04-06 13:59:07
topic: persistent://default/default/19a10f6c-edf5-4774-8347-509021fad678
id: c5d60db8-f41d-11ee-a3fb-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "tesla-annual-reports/tsla-10k_20191231-gen_0.pdf", "page": 42, "chroma:document": "when\twe\tcommence\tproduction\tthere\tof\tthis\toffering\tin\tthe\tpopular\tcompact\tSUV\tsegment.\nMoreover,\tthe\tsignificant\tinterest\tgenerated\tby\tour\tunveiling\tof\tCybertruck\tdemonstrated\tour\tbrand\tvisibility,\tinnovation\tand\tviability\tacross\tan\nincreasing\trange\tof\tvehicle\tsegments.\tMeanwhile,\twe\tare\tmaking\tour\texisting\tvehicles\tincrementally\tmore\tcompelling,\tincluding\tthrough\ta\tplanned\nsoftware\tupdate\tfor\tFSD-enabled\tvehicles\tto\treact\tto\ttraffic\tlights\tand\tstop\tsigns\tand\tnavigate\tcity\tintersections,\tand\tadditional\tfunctionality\tof\tboth\tin-\nvehicle\tsoftware\tand\tthe\tTesla\tmobile\tapp.\n\t\nOn\tthe\tother\thand,\twe\tmay\tbe\timpacted\tby\ttrade\tand\tenvironmental\tpolicies,\tpolitical\tuncertainty\tand\teconomic\tcycles\tinvolving\tgeographic\nregions\twhere\twe\thave\tsignificant\toperations,\twhich\tare\tinherently\tunpredictable.\tSales\tof\tvehicles\tin\tthe\tautomotive\tindustry\talso\ttend\tto\tbe\tcyclical\tin\nmany\tmarkets,\twhich\tmay\texpose\tus\tto\tincreased\tvolatility.\tSpecifically,\tit\tis\tuncertain\tas\tto\thow\tsuch\tmacroeconomic\tfactors\twill\timpact\tus\tas\ta\ncompany\tthat\thas\tbeen\texperiencing\tgrowth\tand\tincreasing\tmarket\tshare\tin\tan\tindustry\tthat\thas\tglobally\tbeen\texperiencing\ta\trecent\tdecline\tin\tsales.\nFinally,\twe\tmake\tcertain\tadjustments\tto\tour\tprices\tfrom\ttime\tto\ttime\tin\tthe\tordinary\tcourse\tof\tbusiness,\tincluding\tas\twe\tintroduce\tnew\tvehicles\tand\nvariants\tand\toptimize\tthe\tpricing\tamong\tthem.\tSuch\tpricing\tchanges\tmay\timpact\tour\tvehicles\u2019\tresale\tvalues,\tand\tin\tturn\tour\toperating\tresults.\tFor\nexample,\tif\tprice\treductions\tresult\tin\tan\tincrease\tto\tour\testimates\tof\tthe\tvolume\tof\tvehicles\tthat\tmay\tpotentially\tbe\treturned\tto\tus\tunder\tpre-existing\nresale\tvalue\tguarantees\tprovided\tto\tcustomers\tand\tpartners\tfor\tcertain\tfinancing\tprograms,\tour\tgross\tprofits\tmay\tbe\treduced."}


created_at: 2024-04-06 13:59:07
topic: persistent://default/default/19a10f6c-edf5-4774-8347-509021fad678
id: c5d60e1c-f41d-11ee-a3fb-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "tesla-annual-reports/tsla-10k_20191231-gen_0.pdf", "page": 42, "chroma:document": "Automotive\u2014Deliveries\tand\tCustomer\tInfrastructure\n\t\nWe\tcontinue\tto\toptimize\tour\tmanufacturing\tand\tglobal\tdelivery\tpatterns\tto\taddress\thigher\tvolumes\tof\tour\tpredominantly\tsingle-factory\nproduction\tat\tthe\tFremont\tFactory.\tWe\texpect\tto\talleviate\tany\trelated\tissues\tthrough\tlocal\tproduction\tat\tGigafactory\tShanghai\tand\teventually\tat\nGigafactory\tBerlin.\nWe\talso\tcontinue\tto\texpand\tand\tinvest\tin\tour\tservicing\tand\tcharging\tlocations\tand\tcapabilities\tto\tkeep\tpace\twith\tour\tcustomer\tvehicle\tfleet\tand\nensure\ta\tconvenient\tand\tefficient\tcustomer\texperience.\tHowever,\tif\tour\tcustomer\tvehicles,\tparticularly\tin\tthe\trapidly\tgrowing\tModel\t3\tfleet,\texperience\nunexpected\treliability\tissues,\tit\tcould\toutpace\tand\toverburden\tour\tservicing\tcapabilities\tand\tparts\tinventory.\nEnergy\tGeneration\tand\tStorage\tDemand,\tProduction\tand\tDeployment\n\t\nWe\texpect\tto\tcontinue\tto\tgrow\tour\tretrofit\tsolar\tsystem\tdeployments\tas\twe\texecute\tour\tnew\tstrategy,\tincluding\tthrough\tcompelling\tfinancing\noptions\tsuch\tas\ta\tsubscription-based\toffering,\twhich\tis\tcurrently\tavailable\tin\tCalifornia.\n40"}


created_at: 2024-04-06 13:59:07
topic: persistent://default/default/19a10f6c-edf5-4774-8347-509021fad678
id: c5d60e76-f41d-11ee-a3fb-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "tesla-annual-reports/tsla-10k_20191231-gen_0.pdf", "page": 43, "chroma:document": "We\n\tare\tfocused\ton\ttraining\tour\tpersonnel\tand\tthird\tparty\n\tpartners\tto\tramp\ti\nnstallations\tof\tour\t\nSolar\tRoof\n,\tand\tare\talso\thiring\trapidly\tfor\tits\nongoing\t\nmanufacturing\tramp\tat\tGigafactory\tNew\tYork.\tWe\texpect\tsuch\tramp\twill\tsupport\tour\tsignificant\toperations\tand\tour\tcompliance\twith\tminimum\nhiring\tand\tcumulative\tinvestment\ttargets\tunder\tour\tagreement\twith\tthe\tSUNY\tFoundation\trelated\tto\tthe\tconstruction\tand\tuse\tof\tGigafactory\tNew\tYork.\nHowever,\tif\tour\texpectations\tas\tto\tthe\tcosts\tand\ttimelines\tof\tour\tinvestment\tand\toperations\tat\tBuffalo\tor\tour\tproduction\tramp\tof\t\nthe\t\nSolar\tRoof\n\tprove\nincorrect,\twe\tmay\tincur\tadditional\texpenses\tor\tsubstantial\tpayments\tto\tthe\tSUNY\tFoundation.\nFinally,\twith\tthe\tintroduction\tof\tour\t3\tMWh\tMegapack,\twe\tnow\toffer\tan\teven\tgreater\tvariety\tof\tscalable\tenergy\tstorage\tproducts\twith\ta\twide\nrange\tof\tmarkets\tand\tapplications,\tand\texpect\tthis\tproduct\tto\tdrive\tadditional\tinterest\tfrom\tglobal\tproject\tdevelopers\tand\tutilities.\t\t\t\t\nTrends\tin\tCash\tFlow,\tCapital\tExpenditures\tand\tOperating\tExpenses\nOur\tcapital\texpenditures\tare\tdifficult\tto\tproject\tbeyond\tthe\tshort\tterm,\tgiven\tthe\tnumber\tand\tbreadth\tof\tour\tcore\tprojects\tat\tany\tgiven\ttime.\tFor\nexample,\tthe\tcurve\tof\tany\tnew\tproduct\tramp,\tsuch\tas\tfor\tModel\tY\tand\tthe\tSolar\tRoof,\tis\tinherently\tsubject\tto\tuncertainty\tof\ttiming,\tand\tif\twe\tare\table\tto\nmeet\tvarious\tmilestones\talong\tsuch\tramp\tmore\tquickly\tthan\texpected,\tour\tcapital\texpenditures\tmay\tbe\taccelerated.\tWe\talso\tcontinuously\tevaluate,\tand\nas\tappropriate\tadjust,\tour\tcapital\texpenditures\tbased\ton,\tamong\tother\tthings:\tour\tmanufacturing\tplans\tfor\tour\tvarious\tproducts,\twhich\twe\tmay"}


created_at: 2024-04-06 13:59:07
topic: persistent://default/default/19a10f6c-edf5-4774-8347-509021fad678
id: c5d60ed0-f41d-11ee-a3fb-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "tesla-annual-reports/tsla-10k_20191231-gen_0.pdf", "page": 43, "chroma:document": "rebalance\tfrom\ttime\tto\ttime\tbased\ton\tthe\tmix\tof\tdemand\tamong\tthem\tand\tother\tcontingent\tfactors;\tthe\tpace\tand\tprioritization\tof\tcurrent\tprojects\tunder\ndevelopment;\tand\tthe\taddition\tof\tany\tnew\tprojects.\tMoreover,\twe\tare\tgenerally\tincreasing\tthe\tcapital\tefficiency\tof\tour\tprojects\twith\texperience\n,\tand\twe\nmay\tfind\tthat\tour\tactual\tcapital\texpenditures\ton\tnew\tprojects\tare\tdifferent\tthan\tpreviously\texpected.\nSubject\tto\tthe\tabove,\tconsidering\tthe\texpected\tpace\tof\tthe\tmanufacturing\tramps\tfor\tour\tproducts,\tconstruction\tand\texpansion\tof\tour\tfactories,\nand\tpipeline\tof\tannounced\tprojects\tunder\tdevelopment,\tand\tconsistent\twith\tour\tcurrent\tstrategy\tof\tusing\tpartners\tto\tmanufacture\tbattery\tcells,\tas\twell\nas\tconsidering\tall\tother\tinfrastructure\tgrowth,\twe\tcurrently\texpect\tour\taverage\tannual\tcapital\texpenditures\tin\t2020\tand\tthe\ttwo\tsucceeding\tfiscal\tyears\nto\tbe\t$2.5\tbillion\tto\t$3.5\tbillion.\nWe\texpect\toperating\texpenses\tas\ta\tpercentage\tof\trevenue\tto\tcontinue\tto\tdecrease\tin\tthe\tfuture\tas\twe\tfocus\ton\tincreasing\toperational\tefficiency\nand\tprocess\tautomation,\tas\twell\tas\tfrom\tincreases\tin\texpected\toverall\trevenues\tfrom\tour\texpanding\tsales.\tIn\tparticular,\tour\tefforts\tto\tscale\tdown\tand\noptimize\tour\tcost\tstructure\trelative\tto\tthe\tsize\tof\tour\tbusiness\thave\talready\tmanifested\tin\ttotal\toperating\texpenses\tdecreasing\tfrom\t$4.4\tbillion\tto\t$4.1\nbillion\tfrom\tfiscal\tyear\t2018\tto\tfiscal\tyear\t2019,\tincluding\trestructuring\tand\tother\tcharges.\tMeanwhile,\tour\ttotal\trevenues\tincreased\tfrom\t$21.5\tbillion\nto\t$24.6\tbillion\tin\tthe\tsame\tperiod.\nIn\tMarch\t2018,\tour\tstockholders\tapproved\tthe\t2018\tCEO\tPerformance\tAward,\twith\tvesting\tcontingent\ton\tachieving\tmarket\tcapitalization\tand"}


created_at: 2024-04-06 13:59:07
topic: persistent://default/default/19a10f6c-edf5-4774-8347-509021fad678
id: c5d60f20-f41d-11ee-a3fb-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "tesla-annual-reports/tsla-10k_20191231-gen_0.pdf", "page": 43, "chroma:document": "operational\tmilestones.\tWe\twill\tincur\tsignificant\tnon-cash\tstock-based\tcompensation\texpense\tfor\teach\ttranche\tunder\tthis\taward\tafter\tthe\trelated\noperational\tmilestone\tinitially\tbecomes\tprobable\tof\tbeing\tmet,\tand\tif\tlater\tthan\tthe\tgrant\tdate,\twe\twill\talso\thave\tto\trecord\ta\tcumulative\tcatch-up\nexpense\tat\tsuch\ttime.\tSuch\tcatch-up\texpense\tmay\tbe\tmaterial\tdepending\ton\tthe\tlength\tof\ttime\telapsed\tfrom\tthe\tgrant\tdate.\tFor\texample,\tin\tthe\tfourth\nquarter\tof\t2019,\tas\tthe\tresult\tof\tan\tadditional\toperational\tmilestone\tbecoming\tprobable\tof\tachievement,\twe\trecorded\ta\tcumulative\tcatch-up\texpense\tof\n$72\tmillion\tfor\tservice\tprovided\tfrom\tthe\tgrant\tdate.\tMoreover,\tas\tthe\texpense\tfor\ta\ttranche\tis\trecorded\tover\tthe\tlonger\tof\t(i)\tthe\texpected\tachievement\nperiod\tof\tthe\trelevant\toperational\tmilestone\tand\t(ii)\tonly\tif\tthe\trelated\tmarket\tcapitalization\tmilestone\thas\tnot\tbeen\tachieved,\tits\texpected\tachievement\nperiod,\tthe\tachievement\tof\ta\tmarket\tcapitalization\tmilestone\tearlier\tthan\texpected\tmay\taccelerate\tthe\trate\tat\twhich\tsuch\texpense\tis\trecognized.\tUpon\nvesting\tof\ta\ttranche,\tall\tremaining\tassociated\texpense\twill\tbe\trecognized\timmediately.\tSee\tNote\t14,\t\nEquity\tIncentive\tPlans\u20142018\tCEO\tPerformance\nAward\n,\tto\tthe\tconsolidated\tfinancial\tstatements\tincluded\telsewhere\tin\tthis\tAnnual\tReport\ton\tForm\t10-K\tfor\tfurther\tdetails\tregarding\tthe\tstock-based\ncompensation\trelating\tto\tthe\t2018\tCEO\tPerformance\tAward.\n\t\n\t\n41"}


created_at: 2024-04-06 13:59:07
topic: persistent://default/default/19a10f6c-edf5-4774-8347-509021fad678
id: c5d60f84-f41d-11ee-a3fb-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "tesla-annual-reports/tsla-10k_20191231-gen_0.pdf", "page": 44, "chroma:document": "Critical\tAccounting\tPolicies\tand\tEstimates\nThe\tconsolidated\tfinancial\tstatements\tare\tprepared\tin\taccordance\twith\taccounting\tprinciples\tgenerally\taccepted\tin\tthe\tU.S.\t(\u201cGAAP\u201d).\tThe\npreparation\tof\tthe\tconsolidated\tfinancial\tstatements\trequires\tus\tto\tmake\testimates\tand\tassumptions\tthat\taffect\tthe\treported\tamounts\tof\tassets,\nliabilities,\trevenues,\tcosts\tand\texpenses\tand\trelated\tdisclosures.\tWe\tbase\tour\testimates\ton\thistorical\texperience,\tas\tappropriate,\tand\ton\tvarious\tother\nassumptions\tthat\twe\tbelieve\tto\tbe\treasonable\tunder\tthe\tcircumstances.\tChanges\tin\tthe\taccounting\testimates\tare\treasonably\tlikely\tto\toccur\tfrom\tperiod\nto\tperiod.\tAccordingly,\tactual\tresults\tcould\tdiffer\tsignificantly\tfrom\tthe\testimates\tmade\tby\tour\tmanagement.\tWe\tevaluate\tour\testimates\tand\nassumptions\ton\tan\tongoing\tbasis.\tTo\tthe\textent\tthat\tthere\tare\tmaterial\tdifferences\tbetween\tthese\testimates\tand\tactual\tresults,\tour\tfuture\tfinancial\nstatement\tpresentation,\tfinancial\tcondition,\tresults\tof\toperations\tand\tcash\tflows\twill\tbe\taffected.\tWe\tbelieve\tthat\tthe\tfollowing\tcritical\taccounting\npolicies\tinvolve\ta\tgreater\tdegree\tof\tjudgment\tand\tcomplexity\tthan\tour\tother\taccounting\tpolicies.\tAccordingly,\tthese\tare\tthe\tpolicies\twe\tbelieve\tare\tthe\nmost\tcritical\tto\tunderstanding\tand\tevaluating\tthe\tconsolidated\tfinancial\tcondition\tand\tresults\tof\toperations.\nRevenue\tRecognition\nAdoption\tof\tnew\trevenue\tstandard\nOn\tJanuary\t1,\t2018,\twe\tadopted\tASC\t606,\t\nRevenue\tfrom\tContracts\twith\tCustomers\n,\t(\u201cnew\trevenue\tstandard\u201d)\tusing\tthe\tmodified\tretrospective\nmethod.\tThe\tnew\trevenue\tstandard\thad\ta\tmaterial\timpact\tin\tour\tconsolidated\tfinancial\tstatements.\tFor\tfurther\tdiscussion,\trefer\tto\tNote\t2,\t\nSummary\tof\nSignificant\tAccounting\tPolicies"}


created_at: 2024-04-06 13:59:07
topic: persistent://default/default/19a10f6c-edf5-4774-8347-509021fad678
id: c5d61010-f41d-11ee-a3fb-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "tesla-annual-reports/tsla-10k_20191231-gen_0.pdf", "page": 44, "chroma:document": "Summary\tof\nSignificant\tAccounting\tPolicies\n,\tto\tthe\tconsolidated\tfinancial\tstatements\tincluded\telsewhere\tin\tthis\tAnnual\tReport\ton\tForm\t10-K.\nAutomotive\tSegment\nAutomotive\tSales\tRevenue\nAutomotive\tSales\twithout\tResale\tValue\tGuarantee\nAutomotive\tsales\trevenue\t\nincludes\trevenues\trelated\tto\tdeliveries\tof\tnew\tvehicles\tand\tpay-per-use\tcharges,\tand\tspecific\tother\tfeatures\tand\nservices\tthat\tmeet\tthe\tdefinition\tof\ta\tperformance\tobligation\tunder\tthe\tnew\trevenue\tstandard,\tincluding\taccess\tto\tour\tSupercharger\tnetwork,\tinternet\nconnectivity,\tAutopilot,\t\nFSD\tfeatures\t\nand\tover-the-air\tsoftware\tupdates.\tWe\trecognize\trevenue\ton\tautomotive\tsales\tupon\tdelivery\tto\tthe\tcustomer,\nwhich\tis\twhen\tthe\tcontrol\tof\ta\tvehicle\ttransfers.\tPayments\tare\ttypically\treceived\tat\tthe\tpoint\tcontrol\ttransfers\tor\tin\taccordance\twith\tpayment\tterms\ncustomary\tto\tthe\tbusiness.\tOther\tfeatures\tand\tservices\tsuch\tas\taccess\tto\tour\tSupercharger\tnetwork,\tinternet\tconnectivity\tand\tover-the-air\tsoftware\nupdates\tare\tprovisioned\tupon\tcontrol\ttransfer\tof\ta\tvehicle\tand\trecognized\tover\ttime\ton\ta\tstraight-line\tbasis\tas\twe\thave\ta\tstand-ready\tobligation\tto\ndeliver\tsuch\tservices\tto\tthe\tcustomer.\tWe\trecognize\trevenue\trelated\tto\tthese\tother\tfeatures\tand\tservices\tover\tthe\tperformance\tperiod,\twhich\tis\ngenerally\tthe\texpected\townership\tlife\tof\tthe\tvehicle\tor\tthe\teight-year\tlife\tof\tthe\tvehicle.\tRevenue\trelated\tto\tAutopilot\tand\tFSD\tfeatures\tis\trecognized\nwhen\tfunctionality\tis\tdelivered\tto\tthe\tcustomer.\tFor\tour\tobligations\trelated\tto\tautomotive\tsales,\twe\testimate\tstandalone\tselling\tprice\tby\tconsidering\ncosts\tused\tto\tdevelop\tand\tdeliver\tthe\tservice,\tthird-party\tpricing\tof\tsimilar\toptions\tand\tother\tinformation\tthat\tmay\tbe\tavailable.\nAt"}


created_at: 2024-04-06 13:59:07
topic: persistent://default/default/19a10f6c-edf5-4774-8347-509021fad678
id: c5d61088-f41d-11ee-a3fb-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "tesla-annual-reports/tsla-10k_20191231-gen_0.pdf", "page": 44, "chroma:document": "At\t\nthe\ttime\tof\trevenue\trecognition,\twe\treduce\tthe\ttransaction\tprice\tand\trecord\ta\tsales\treturn\treserve\tagainst\trevenue\tfor\testimated\tvariable\nconsideration\trelated\tto\tfuture\tproduct\treturns\tbased\ton\thistorical\texperience.\tIn\taddition,\tany\tfees\tthat\tare\tpaid\tor\tpayable\tby\tus\tto\ta\tcustomer\u2019s\nlender\twhen\twe\tarrange\tthe\tfinancing\tare\trecognized\tas\tan\toffset\tagainst\tautomotive\tsales\trevenue.\nCosts\tto\tobtain\ta\tcontract\tmainly\trelate\tto\tcommissions\tpaid\tto\tour\tsales\tpersonnel\tfor\tthe\tsale\tof\tvehicles.\tCommissions\tare\tnot\tpaid\ton\tother\nobligations\tsuch\tas\n\t\naccess\tto\tour\tSupercharger\tnetwork,\tinternet\tconnectivity,\tAutopilot,\tFSD\tfeatures\tand\tover-the-air\tsoftware\tupdates.\tAs\tour\ncontract\tcosts\trelated\tto\tautomotive\tsales\tare\ttypically\tfulfilled\twithin\tone\tyear,\tthe\tcosts\tto\tobtain\ta\tcontract\tare\texpensed\tas\tincurred.\t\nAmounts\tbilled\nto\tcustomers\trelated\tto\tshipping\tand\thandling\tare\tclassified\tas\tautomotive\trevenue,\tand\t\nwe\thave\telected\tto\trecognize\tthe\tcost\tfor\tfreight\tand\tshipping\nwhen\tcontrol\tover\tvehicles,\tparts,\tor\taccessories\thave\ttransferred\tto\tthe\tcustomer\tas\tan\texpense\tin\tcost\tof\trevenues.\tOur\tpolicy\tis\tto\texclude\ttaxes\ncollected\tfrom\ta\tcustomer\tfrom\tthe\ttransaction\tprice\tof\tautomotive\tcontracts.\n42"}


created_at: 2024-04-06 13:59:07
topic: persistent://default/default/19a10f6c-edf5-4774-8347-509021fad678
id: c5d610ec-f41d-11ee-a3fb-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "tesla-annual-reports/tsla-10k_20191231-gen_0.pdf", "page": 45, "chroma:document": "Automotive\tSales\twith\tResale\tValue\tGuarantee\n\tor\ta\tBuyback\tOption\nWe\toffer\tresale\tvalue\tguarantees\tor\tsimilar\tbuy-back\tterms\tto\tcertain\tinternational\tcustomers\twho\tpurchase\tvehicles\tand\twho\tfinance\ttheir\nvehicles\tthrough\tone\tof\tour\tspecified\tcommercial\tbanking\tpartners.\tWe\talso\toffer\tresale\tvalue\tguarantees\tin\tconnection\twith\tautomotive\tsales\tto\tcertain\nleasing\tpartners.\tUnder\tthese\tprograms,\twe\treceive\tfull\tpayment\tfor\tthe\tvehicle\tsales\tprice\tat\tthe\ttime\tof\tdelivery\tand\tour\tcounterparty\thas\tthe\toption\nof\tselling\ttheir\tvehicle\tback\tto\tus\tduring\tthe\tguarantee\tperiod,\twhich\tcurrently\tis\tgenerally\tat\tthe\tend\tof\tthe\tterm\tof\tthe\tapplicable\tloan\tor\tfinancing\nprogram,\tfor\ta\tpre-determined\tresale\tvalue.\nWith\tthe\texception\tof\ttwo\tprograms\twhich\tare\tdiscussed\twithin\tthe\t\nAutomotive\tLeasing\n\tsection,\twe\trecognize\trevenue\twhen\tcontrol\ttransfers\nupon\tdelivery\tto\tcustomers\tin\taccordance\twith\tthe\tnew\trevenue\tstandard\tas\ta\tsale\twith\ta\tright\tof\treturn\tas\twe\tdo\tnot\tbelieve\tthe\tcustomer\thas\ta\nsignificant\teconomic\tincentive\tto\texercise\tthe\tresale\tvalue\tguarantee\tprovided\tto\tthem.\tThe\tprocess\tto\tdetermine\twhether\tthere\tis\ta\tsignificant\neconomic\tincentive\tincludes\ta\tcomparison\tof\ta\tvehicle\u2019s\testimated\tmarket\tvalue\tat\tthe\ttime\tthe\toption\tis\texercisable\twith\tthe\tguaranteed\tresale\tvalue\tto\ndetermine\tthe\tcustomer\u2019s\teconomic\tincentive\tto\texercise.\tThe\tperformance\tobligations\tand\tthe\tpattern\tof\trecognizing\tautomotive\tsales\twith\tresale\nvalue\tguarantees\tare\tconsistent\twith\tautomotive\tsales\twithout\tresale\tvalue\tguarantees\twith\tthe\texception\tof\tour\testimate\tfor\tsales\treturn\treserve.\tSales\nreturn\treserves\tfor\tautomotive\tsales\twith\tresale\tvalue\tguarantees\tare\testimated\tbased\ton\thistorical\texperience\tplus\tconsideration\tfor\texpected\tfuture"}


created_at: 2024-04-06 13:59:07
topic: persistent://default/default/19a10f6c-edf5-4774-8347-509021fad678
id: c5d61178-f41d-11ee-a3fb-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "tesla-annual-reports/tsla-10k_20191231-gen_0.pdf", "page": 45, "chroma:document": "market\tvalues.\tOn\ta\tquarterly\tbasis,\twe\tassess\tthe\testimated\tmarket\tvalues\tof\tvehicles\tunder\tour\tbuyback\toptions\tprogram\tto\tdetermine\twhether\tthere\nhave\tbeen\tchanges\tto\tthe\tlikelihood\tof\tfuture\tproduct\treturns.\tAs\twe\taccumulate\tmore\tdata\trelated\tto\tthe\tbuyback\tvalues\tof\tour\tvehicles\tor\tas\tmarket\nconditions\tchange,\tthere\tmay\tbe\tmaterial\tchanges\tto\ttheir\testimated\tvalues.\tThe\ttwo\tprograms\tthat\tare\tstill\tbeing\trecorded\tas\toperating\tleases\tare\ndiscussed\tin\tfurther\tdetail\tbelow\tin\t\nVehicle\tSales\tto\tLeasing\tPartners\twith\ta\tResale\tValue\tGuarantee\tand\ta\tBuyback\tOption\n\tand\t\nVehicle\tSales\tto\nCustomers\twith\ta\tResale\tValue\tGuarantee\twhere\tExercise\tis\tProbable.\nPrior\tto\tthe\tadoption\tof\tthe\tnew\trevenue\tstandard,\tall\ttransactions\twith\tresale\tvalue\tguarantees\twere\trecorded\tas\toperating\tleases.\tThe\tamount\nof\tsale\tproceeds\tequal\tto\tthe\tresale\tvalue\tguarantee\twas\tdeferred\tuntil\tthe\tguarantee\texpired\tor\twas\texercised.\tFor\tcertain\ttransactions\tthat\twere\nconsidered\tinterest\tbearing\tcollateralized\tborrowings\tas\trequired\tunder\tASC\t840,\t\nLeases\n\tprior\tto\tJanuary\t1,\t2019,\twe\talso\taccrued\tinterest\texpense\nbased\ton\tour\tborrowing\trate.\tThe\tremaining\tsale\tproceeds\twere\tdeferred\tand\trecognized\ton\ta\tstraight-line\tbasis\tover\tthe\tstated\tguarantee\tperiod\tto\nautomotive\tleasing\trevenue.\tThe\tguarantee\tperiod\texpired\tat\tthe\tearlier\tof\tthe\tend\tof\tthe\tguarantee\tperiod\tor\tthe\tpay-off\tof\tthe\tinitial\tloan.\tWe\ncapitalized\tthe\tcost\tof\tthese\tvehicles\ton\tthe\tconsolidated\tbalance\tsheet\tas\toperating\tlease\tvehicles,\tnet,\tand\tdepreciated\ttheir\tvalue,\tless\testimated\nresidual\tvalue,\tto\tcost\tof\tautomotive\tleasing\trevenue\tover\tthe\tsame\tperiod."}


created_at: 2024-04-06 13:59:07
topic: persistent://default/default/19a10f6c-edf5-4774-8347-509021fad678
id: c5d611dc-f41d-11ee-a3fb-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "tesla-annual-reports/tsla-10k_20191231-gen_0.pdf", "page": 45, "chroma:document": "In\tcases\twhere\tour\tcounterparty\tretained\townership\tof\tthe\tvehicle\tat\tthe\tend\tof\tthe\tguarantee\tperiod,\tthe\tresale\tvalue\tguarantee\tliability\tand\nany\tremaining\tdeferred\trevenue\tbalances\trelated\tto\tthe\tvehicle\twere\tsettled\tto\tautomotive\tleasing\trevenue,\tand\tthe\tnet\tbook\tvalue\tof\tthe\tleased\tvehicle\nwas\texpensed\tto\tcost\tof\tautomotive\tleasing\trevenue.\tIf\tour\tcounterparty\treturned\tthe\tvehicle\tto\tus\tduring\tthe\tguarantee\tperiod,\twe\tpurchased\tthe\nvehicle\tfrom\tour\tcounterparty\tin\tan\tamount\tequal\tto\tthe\tresale\tvalue\tguarantee\tand\tsettled\tany\tremaining\tdeferred\tbalances\tto\tautomotive\tleasing\nrevenue,\tand\twe\treclassified\tthe\tnet\tbook\tvalue\tof\tthe\tvehicle\ton\tthe\tconsolidated\tbalance\tsheet\tto\tused\tvehicle\tinventory.\nAutomotive\tRegulatory\tCredits\nIn\tconnection\twith\tthe\tproduction\tand\tdelivery\tof\tour\tzero\temission\tvehicles\tin\tglobal\tmarkets,\twe\thave\tearned\tand\twill\tcontinue\tto\tearn\tvarious\ntradable\tautomotive\tregulatory\tcredits.\tWe\thave\tsold\tthese\tcredits,\tand\twill\tcontinue\tto\tsell\tfuture\tcredits,\tto\tautomotive\tcompanies\tand\tother\tregulated\nentities\twho\tcan\tuse\tthe\tcredits\tto\tcomply\twith\temission\tstandards\tand\tother\tregulatory\trequirements.\tFor\texample,\tunder\tCalifornia\u2019s\tZero\tEmission\nVehicle\tRegulation\tand\tthose\tof\tstates\tthat\thave\tadopted\tCalifornia\u2019s\tstandard,\tvehicle\tmanufacturers\tare\trequired\tto\tearn\tor\tpurchase\tcredits,\treferred\nto\tas\tZEV\tcredits,\tfor\tcompliance\twith\ttheir\tannual\tregulatory\trequirements.\tThese\tlaws\tprovide\tthat\tautomakers\tmay\tbank\tor\tsell\tto\tother\tregulated\nparties\ttheir\texcess\tcredits\tif\tthey\tearn\tmore\tcredits\tthan\tthe\tminimum\tquantity\trequired\tby\tthose\tlaws.\tWe\talso\tearn\tother\ttypes\tof\tsaleable\tregulatory\ncredits\tin\tthe\tUnited\tStates\tand\tabroad,\tincluding\tgreenhouse\tgas,\tfuel\teconomy\tand\tclean\tfuels\tcredits"}


created_at: 2024-04-06 13:59:07
topic: persistent://default/default/19a10f6c-edf5-4774-8347-509021fad678
id: c5d61236-f41d-11ee-a3fb-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "tesla-annual-reports/tsla-10k_20191231-gen_0.pdf", "page": 45, "chroma:document": ".\tPayments\tfor\tregulatory\tcredits\tare\ttypically\nreceived\tat\tthe\tpoint\tcontrol\ttransfers\tto\tthe\tcustomer,\tor\tin\taccordance\twith\tpayment\tterms\tcustomary\tto\tthe\tbusiness.\t\nWe\trecognize\trevenue\ton\tthe\tsale\nof\tautomotive\tregulatory\tcredits\tat\tthe\ttime\tcontrol\tof\tthe\tregulatory\tcredits\tis\ttransferred\tto\tthe\tpurchasing\tparty\tas\tautomotive\trevenue\tin\tthe\nconsolidated\tstatement\tof\toperations.\n43"}


created_at: 2024-04-06 13:59:07
topic: persistent://default/default/19a10f6c-edf5-4774-8347-509021fad678
id: c5d61290-f41d-11ee-a3fb-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "tesla-annual-reports/tsla-10k_20191231-gen_0.pdf", "page": 46, "chroma:document": "Automotive\tLeasing\tRevenue\nAutomotive\tleasing\trevenue\tincludes\trevenue\trecognized\tunder\tlease\taccounting\tguidance\tfor\tour\tdirect\tleasing\tprograms\tas\twell\tas\tthe\ttwo\nprograms\twith\tresale\tvalue\tguarantees\twhich\tcontinue\tto\tqualify\tfor\toperating\tlease\ttreatment.\tPrior\tto\tthe\tadoption\tof\tthe\tnew\trevenue\tstandard,\tall\nprograms\twith\tresale\tvalue\tguarantees\twere\taccounted\tfor\tas\toperating\tleases.\nDirect\tVehicle\tLeasing\tProgram\nWe\thave\toutstanding\tleases\tunder\tour\tdirect\tvehicle\tleasing\tprograms\tin\tthe\tU.S.,\tCanada\tand\tin\tcertain\tcountries\tin\tEurope.\tAs\tof\tDecember\n31,\t2019,\tthe\tdirect\tvehicle\tleasing\tprogram\tis\toffered\tfor\tall\tnew\tModel\tS,\tModel\tX\tand\tModel\t3\tvehicles\tin\tthe\tU.S.\tand\tnew\tModel\tS\tand\tModel\tX\nvehicles\tin\tCanada.\tQualifying\tcustomers\tare\tpermitted\tto\tlease\ta\tvehicle\tdirectly\tfrom\tTesla\tfor\tup\tto\t48\tmonths.\tAt\tthe\tend\tof\tthe\tlease\tterm,\ncustomers\tare\trequired\tto\treturn\tthe\tvehicles\tto\tus\tor\tfor\tModel\tS\tand\tModel\tX\tleases,\tmay\topt\tto\tpurchase\tthe\tvehicles\tfor\ta\tpre-determined\tresidual\nvalue.\tWe\taccount\tfor\tthese\tleasing\ttransactions\tas\toperating\tleases.\tWe\trecord\tleasing\trevenues\tto\tautomotive\tleasing\trevenue\ton\ta\tstraight-line\tbasis\nover\tthe\tcontractual\tterm,\tand\twe\trecord\tthe\tdepreciation\tof\tthese\tvehicles\tto\tcost\tof\tautomotive\tleasing\trevenue.\nWe\tcapitalize\tshipping\tcosts\tand\tinitial\tdirect\tcosts\tsuch\tas\tthe\tincremental\tcost\tof\treferral\tfees\tand\tsales\tcommissions\tfrom\tthe\torigination\tof\nautomotive\tlease\tagreements\tas\tan\telement\tof\toperating\tlease\tvehicles,\tnet,\tand\tsubsequently\tamortize\tthese\tcosts\tover\tthe\tterm\tof\tthe\trelated\tlease\nagreement.\tOur\tpolicy\tis\tto\texclude\ttaxes\tcollected\tfrom\ta\tcustomer\tfrom\tthe\ttransaction\tprice\tof\tautomotive\tcontracts."}


created_at: 2024-04-06 13:59:07
topic: persistent://default/default/19a10f6c-edf5-4774-8347-509021fad678
id: c5d612ea-f41d-11ee-a3fb-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "tesla-annual-reports/tsla-10k_20191231-gen_0.pdf", "page": 46, "chroma:document": "Vehicle\tSales\tto\tLeasing\tPartners\twith\ta\tResale\tValue\tGuarantee\tand\ta\tBuyback\tOption\nWe\toffer\tbuyback\toptions\tin\tconnection\twith\tautomotive\tsales\twith\tresale\tvalue\tguarantees\twith\tcertain\tleasing\tpartner\tsales\tin\tthe\tUnited\nStates.\tThese\ttransactions\tentail\ta\ttransfer\tof\tleases,\twhich\twe\thave\toriginated\twith\tan\tend-customer,\tto\tour\tleasing\tpartner.\tAs\tcontrol\tof\tthe\tvehicles\nhas\tnot\tbeen\ttransferred\tin\taccordance\twith\tthe\tnew\trevenue\tstandard,\tthese\ttransactions\twere\taccounted\tfor\tas\tinterest\tbearing\tcollateralized\nborrowings\tin\taccordance\twith\tASC\t840,\t\nLeases\n,\t\nprior\tto\tJanuary\t1,\t2019\n.\tUnder\tthis\tprogram,\tcash\tis\treceived\tfor\tthe\tfull\tprice\tof\tthe\tvehicle\tand\tthe\ncollateralized\tborrowing\tvalue\tis\tgenerally\trecorded\twithin\tresale\tvalue\tguarantees\tand\tthe\tcustomer\tupfront\tdown\tpayment\tis\trecorded\twithin\ndeferred\trevenue.\tWe\tamortize\tthe\tdeferred\trevenue\tamount\tto\tautomotive\tleasing\trevenue\ton\ta\tstraight-line\tbasis\tover\tthe\toption\tperiod\tand\taccrue\ninterest\texpense\tbased\ton\tour\tborrowing\trate.\tWe\tcapitalize\tvehicles\tunder\tthis\tprogram\tto\toperating\tlease\tvehicles,\tnet,\ton\tthe\tconsolidated\tbalance\nsheets,\tand\twe\trecord\tdepreciation\tfrom\tthese\tvehicles\tto\tcost\tof\tautomotive\tleasing\trevenue\tduring\tthe\tperiod\tthe\tvehicle\tis\tunder\ta\tlease\narrangement.\tCash\treceived\tfor\tthese\tvehicles,\tnet\tof\trevenue\trecognized\tduring\tthe\tperiod,\tis\tclassified\tas\tcollateralized\tlease\t(repayments)\nborrowings\twithin\tcash\tflows\tfrom\tfinancing\tactivities\tin\tthe\tconsolidated\tstatements\tof\tcash\tflows.\t\nWith\tthe\tadoption\tof\tASC\t842\ton\tJanuary\t1,\t2019,\nall\tnew\tagreements\tunder\tthis\tprogram\tare\taccounted\tfor\tas\toperating\tleases\tunder\tASC\t842\tand\tthere\twas\tno\tmaterial\tchange\tin\tthe\ttiming\tand"}


created_at: 2024-04-06 13:59:07
topic: persistent://default/default/19a10f6c-edf5-4774-8347-509021fad678
id: c5d61344-f41d-11ee-a3fb-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "tesla-annual-reports/tsla-10k_20191231-gen_0.pdf", "page": 46, "chroma:document": "amount\tof\trevenue\trecognized\tover\tthe\tterm.\tConsequently,\tany\tcash\tflows\tfor\tnew\tagreements\tare\tclassified\tas\toperating\tcash\tactivities\ton\tthe\nconsolidated\tstatements\tof\tcash\tflows.\nAt\tthe\tend\tof\tthe\tlease\tterm,\twe\tsettle\tour\tliability\tin\tcash\tby\teither\tpurchasing\tthe\tvehicle\tfrom\tthe\tleasing\tpartner\tfor\tthe\tbuyback\toption\namount\tor\tpaying\ta\tshortfall\tto\tthe\toption\tamount\tthe\tleasing\tpartner\tmay\trealize\ton\tthe\tsale\tof\tthe\tvehicle.\tAny\tremaining\tbalances\twithin\tdeferred\nrevenue\tand\tresale\tvalue\tguarantee\twill\tbe\tsettled\tto\tautomotive\tleasing\trevenue.\t\nThe\tend\tcustomers\tcan\textend\tthe\tlease\tfor\ta\tperiod\tof\tup\tto\t6\nmonths.\t\nIn\tcases\twhere\tthe\tleasing\tpartner\tretains\townership\tof\tthe\tvehicle\tafter\tthe\tend\tof\tour\toption\tperiod,\twe\texpense\tthe\tnet\tvalue\tof\tthe\tleased\nvehicle\tto\tcost\tof\tautomotive\tleasing\trevenue.\n44"}


created_at: 2024-04-06 13:59:07
topic: persistent://default/default/19a10f6c-edf5-4774-8347-509021fad678
id: c5d6139e-f41d-11ee-a3fb-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "tesla-annual-reports/tsla-10k_20191231-gen_0.pdf", "page": 47, "chroma:document": "Vehicle\tSales\tto\tCustomers\twith\ta\tResale\tValue\tGuarantee\twhere\tExercise\tis\tProbable\nFor\tcertain\tinternational\tprograms\twhere\twe\thave\toffered\tresale\tvalue\tguarantees\tto\tcertain\tcustomers\twho\tpurchased\tvehicles\tand\twhere\twe\nexpect\tthe\tcustomer\thas\ta\tsignificant\teconomic\tincentive\tto\texercise\tthe\tresale\tvalue\tguarantee\tprovided\tto\tthem,\twe\tcontinue\tto\trecognize\tthese\ntransactions\tas\toperating\tleases.\tThe\tprocess\tto\tdetermine\twhether\tthere\tis\ta\tsignificant\teconomic\tincentive\tincludes\ta\tcomparison\tof\ta\tvehicle\u2019s\nestimated\tmarket\tvalue\tat\tthe\ttime\tthe\toption\tis\texercisable\twith\tthe\tguaranteed\tresale\tvalue\tto\tdetermine\tthe\tcustomer\u2019s\teconomic\tincentive\tto\nexercise.\tWe\thave\tnot\tsold\tany\tvehicles\tunder\tthis\tprogram\tsince\tthe\tfirst\thalf\tof\t2017\tand\tall\tcurrent\tperiod\tactivity\trelates\tto\tthe\texercise\tor\ncancellation\tof\tactive\ttransactions.\tThe\tamount\tof\tsale\tproceeds\tequal\tto\tthe\tresale\tvalue\tguarantee\tis\tdeferred\tuntil\tthe\tguarantee\texpires\tor\tis\nexercised.\tThe\tremaining\tsale\tproceeds\tare\tdeferred\tand\trecognized\ton\ta\tstraight-line\tbasis\tover\tthe\tstated\tguarantee\tperiod\tto\tautomotive\tleasing\nrevenue.\tThe\tguarantee\tperiod\texpires\tat\tthe\tearlier\tof\tthe\tend\tof\tthe\tguarantee\tperiod\tor\tthe\tpay-off\tof\tthe\tinitial\tloan.\tWe\tcapitalize\tthe\tcost\tof\tthese\nvehicles\ton\tthe\tconsolidated\tbalance\tsheet\tas\toperating\tlease\tvehicles,\tnet,\tand\tdepreciate\ttheir\tvalue,\tless\tsalvage\tvalue,\tto\tcost\tof\tautomotive\tleasing\nrevenue\tover\tthe\tsame\tperiod.\nIn\tcases\twhere\ta\tcustomer\tretains\townership\tof\ta\tvehicle\tat\tthe\tend\tof\tthe\tguarantee\tperiod,\tthe\tresale\tvalue\tguarantee\tliability\tand\tany\nremaining\tdeferred\trevenue\tbalances\trelated\tto\tthe\tvehicle\tare\tsettled\tto\tautomotive\tleasing\trevenue,\tand\tthe\tnet\tbook\tvalue\tof\tthe\tleased\tvehicle\tis"}


created_at: 2024-04-06 13:59:07
topic: persistent://default/default/19a10f6c-edf5-4774-8347-509021fad678
id: c5d61402-f41d-11ee-a3fb-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "tesla-annual-reports/tsla-10k_20191231-gen_0.pdf", "page": 47, "chroma:document": "expensed\tto\tcost\tof\tautomotive\tleasing\trevenue.\tIf\ta\tcustomer\treturns\tthe\tvehicle\tto\tus\tduring\tthe\tguarantee\tperiod,\twe\tpurchase\tthe\tvehicle\tfrom\tthe\ncustomer\tin\tan\tamount\tequal\tto\tthe\tresale\tvalue\tguarantee\tand\tsettle\tany\tremaining\tdeferred\tbalances\tto\tautomotive\tleasing\trevenue,\tand\twe\treclassify\nthe\tnet\tbook\tvalue\tof\tthe\tvehicle\ton\tthe\tconsolidated\tbalance\tsheets\tto\tused\tvehicle\tinventory.\nEnergy\tGeneration\tand\tStorage\tSegment\nEnergy\tGeneration\tand\tStorage\tSales\nEnergy\tgeneration\tand\tstorage\tsales\trevenue\tconsists\tof\tthe\tsale\tof\tsolar\tenergy\tsystems\tand\tenergy\tstorage\tsystems\tto\tresidential,\tsmall\ncommercial,\tand\tlarge\tcommercial\tand\tutility\tgrade\tcustomers,\tincluding\tsolar\tsubscription-based\tarrangements.\t\nUpon\tadoption\tof\tASC\t842,\tenergy\ngeneration\tand\tstorage\tsales\trevenue\tincludes\tagreements\tfor\tsolar\tenergy\tsystems\tand\tPPAs\tthat\tcommence\tafter\tJanuary\t1,\t2019,\tas\tthese\tare\tnow\naccounted\tfor\tunder\tthe\tnew\trevenue\tstandard.\t\nSales\tof\tsolar\tenergy\tsystems\tto\tresidential\tand\tsmall\tscale\tcommercial\tcustomers\tconsist\tof\tthe\nengineering,\tdesign,\tand\tinstallation\tof\tthe\tsystem.\tPost-installation,\tresidential\tand\tsmall\tscale\tcommercial\tcustomers\treceive\ta\tproprietary\tmonitoring\nsystem\tthat\tcaptures\tand\tdisplays\thistorical\tenergy\tgeneration\tdata.\tResidential\tand\tsmall\tscale\tcommercial\tcustomers\tpay\tthe\tfull\tpurchase\tprice\tof\nthe\tsolar\tenergy\tsystem\tupfront.\tRevenue\tfor\tthe\tdesign\tand\tinstallation\tobligation\tis\trecognized\twhen\tcontrol\ttransfers,\twhich\tis\twhen\twe\tinstall\ta\nsolar\tenergy\tsystem\tand\tthe\tsystem\tpasses\tinspection\tby\tthe\tutility\tor\tthe\tauthority\thaving\tjurisdiction.\tRevenue\tfor\tthe\tmonitoring\tservice\tis\nrecognized\tratably\tas\ta\tstand-ready\tobligation\tover\tthe\twarranty\tperiod\tof\tthe\tsolar\tenergy\tsystem.\tSales\tof\tenergy\tstorage\tsystems\tto\tresidential\tand"}


created_at: 2024-04-06 13:59:07
topic: persistent://default/default/19a10f6c-edf5-4774-8347-509021fad678
id: c5d6145c-f41d-11ee-a3fb-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "tesla-annual-reports/tsla-10k_20191231-gen_0.pdf", "page": 47, "chroma:document": "small\tscale\tcommercial\tcustomers\tconsist\tof\tthe\tinstallation\tof\tthe\tenergy\tstorage\tsystem\tand\trevenue\tis\trecognized\twhen\tcontrol\ttransfers,\twhich\tis\nwhen\tthe\tproduct\thas\tbeen\tdelivered\tor,\tif\twe\tare\tperforming\tinstallation,\twhen\tinstalled\tand\tcommissioned.\tPayment\tfor\tsuch\tstorage\tsystems\tis\tmade\nupon\tinvoice\tor\tin\taccordance\twith\tpayment\tterms\tcustomary\tto\tthe\tbusiness.\nFor\tlarge\tcommercial\tand\tutility\tgrade\tsolar\tenergy\tsystem\tand\tenergy\tstorage\tsystem\tsales\twhich\tconsist\tof\tthe\tengineering,\tdesign,\tand\ninstallation\tof\tthe\tsystem,\tcustomers\tmake\tmilestone\tpayments\tthat\tare\tconsistent\twith\tcontract-specific\tphases\tof\ta\tproject.\tRevenue\tfrom\tsuch\ncontracts\tis\trecognized\tover\ttime\tusing\tthe\tpercentage\tof\tcompletion\tmethod\tbased\ton\tcost\tincurred\tas\ta\tpercentage\tof\ttotal\testimated\tcontract\tcosts\nfor\tenergy\tstorage\tsystem\tsales\tand\tas\ta\tpercentage\tof\ttotal\testimated\tlabor\thours\tfor\tsolar\tenergy\tsystem\tsales.\tCertain\tlarge-scale\tcommercial\tand\nutility\tgrade\tsolar\tenergy\tsystem\tand\tenergy\tstorage\tsystem\tsales\talso\tinclude\toperations\tand\tmaintenance\tservice\twhich\tare\tnegotiated\twith\tthe\ndesign\tand\tinstallation\tcontracts\tand\tare\tthus\tconsidered\tto\tbe\ta\tcombined\tcontract\twith\tthe\tdesign\tand\tinstallation\tservice.\tFor\tcertain\tlarge\ncommercial\tand\tutility\tgrade\tsolar\tenergy\tsystems\tand\tenergy\tstorage\tsystems\twhere\tthe\tpercentage\tof\tcompletion\tmethod\tdoes\tnot\tapply,\trevenue\tis\nrecognized\twhen\tcontrol\ttransfers,\twhich\tis\twhen\tthe\tproduct\thas\tbeen\tdelivered\tto\tthe\tcustomer\tand\tcommissioned\tfor\tenergy\tstorage\tsystems\tand\nwhen\tthe\tproject\thas\treceived\tpermission\tto\toperate\tfrom\tthe\tutility\tfor\tsolar\tenergy\tsystems.\tOperations\tand\tmaintenance\tservice\trevenue\tis\nrecognized\tratably\tover\tthe\trespective\tcontract\tterm\tfor\tsolar\tenergy\tsystem\tsales\tand\tupon\tdelivery\tof\tthe\tservice\tfor\tenergy\tstorage\tsystem\tsales.\nCustomer\tpayments\tfor\tsuch\tservices\tare\tusually\tpaid\tannually\tor\tquarterly\tin\tadvance.\n45"}


created_at: 2024-04-06 13:59:07
topic: persistent://default/default/19a10f6c-edf5-4774-8347-509021fad678
id: c5d614b6-f41d-11ee-a3fb-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "tesla-annual-reports/tsla-10k_20191231-gen_0.pdf", "page": 48, "chroma:document": "In\tinstances\twhere\tthere\tare\tmultiple\tperformance\tobligations\tin\ta\tsingle\tcontract,\twe\tallocate\tthe\tconsideration\tto\tthe\tvarious\tobligations\tin\nthe\tcontract\tbased\ton\tthe\trelative\tstandalone\tselling\tprice\tmethod.\tStandalone\tselling\tprices\tare\testimated\tbased\ton\testimated\tcosts\tplus\tmargin\tor\nusing\tmarket\tdata\tfor\tcomparable\tproducts.\tCosts\tincurred\ton\tthe\tsale\tof\tresidential\tinstallations\tbefore\tthe\tsolar\tenergy\tsystems\tare\tcompleted\tare\nincluded\tas\twork\tin\tprocess\twithin\tinventory\tin\tthe\tconsolidated\tbalance\tsheets.\tHowever,\tany\tfees\tthat\tare\tpaid\tor\tpayable\tby\tus\tto\ta\tsolar\tloan\tlender\nwould\tbe\trecognized\tas\tan\toffset\tagainst\trevenue.\tCosts\tto\tobtain\ta\tcontract\trelate\tmainly\tto\tcommissions\tpaid\tto\tour\tsales\tpersonnel\trelated\tto\tthe\tsale\nof\tsolar\tenergy\tsystems\tand\tenergy\tstorage\tsystems.\tAs\tour\tcontract\tcosts\trelated\tto\tsolar\tenergy\tsystem\tand\tenergy\tstorage\tsystem\tsales\tare\ttypically\nfulfilled\twithin\tone\tyear,\tthe\tcosts\tto\tobtain\ta\tcontract\tare\texpensed\tas\tincurred.\nAs\tpart\tof\tour\tsolar\tenergy\tsystem\tand\tenergy\tstorage\tsystem\tcontracts,\twe\tmay\tprovide\tthe\tcustomer\twith\tperformance\tguarantees\tthat\nwarrant\tthat\tthe\tunderlying\tsystem\twill\tmeet\tor\texceed\tthe\tminimum\tenergy\tgeneration\tor\tretention\trequirements\tspecified\tin\tthe\tcontract.\tIn\tcertain\ninstances,\twe\tmay\treceive\ta\tbonus\tpayment\tif\tthe\tsystem\tperforms\tabove\ta\tspecified\tlevel.\tConversely,\tif\ta\tsolar\tenergy\tsystem\tor\tenergy\tstorage\nsystem\tdoes\tnot\tmeet\tthe\tperformance\tguarantee\trequirements,\twe\tmay\tbe\trequired\tto\tpay\tliquidated\tdamages.\tOther\tforms\tof\tvariable\tconsideration\nrelated\tto\tour\tlarge\tcommercial\tand\tutility\tgrade\tsolar\tenergy\tsystem\tand\tenergy\tstorage\tsystem\tcontracts\tinclude\tvariable\tcustomer\tpayments\tthat\twill"}


created_at: 2024-04-06 13:59:07
topic: persistent://default/default/19a10f6c-edf5-4774-8347-509021fad678
id: c5d61510-f41d-11ee-a3fb-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "tesla-annual-reports/tsla-10k_20191231-gen_0.pdf", "page": 48, "chroma:document": "be\tmade\tbased\ton\tour\tenergy\tmarket\tparticipation\tactivities.\tSuch\tguarantees\tand\tvariable\tcustomer\tpayments\trepresent\ta\tform\tof\tvariable\nconsideration\tand\tare\testimated\tat\tcontract\tinception\tat\ttheir\tmost\tlikely\tamount\tand\tupdated\tat\tthe\tend\tof\teach\treporting\tperiod\tas\tadditional\nperformance\tdata\tbecomes\tavailable.\tSuch\testimates\tare\tincluded\tin\tthe\ttransaction\tprice\tonly\tto\tthe\textent\tthat\tit\tis\tprobable\ta\tsignificant\treversal\tof\nrevenue\twill\tnot\toccur.\nWe\trecord\tas\tdeferred\trevenue\tany\tnon-refundable\tamounts\tthat\tare\tcollected\tfrom\tcustomers\trelated\tto\tfees\tcharged\tfor\tprepayments\tand\nremote\tmonitoring\tservice\tand\toperations\tand\tmaintenance\tservice,\twhich\tis\trecognized\tas\trevenue\tratably\tover\tthe\trespective\tcustomer\tcontract\nterm.\t\nEnergy\tGeneration\tand\tStorage\tLeasing\nFor\trevenue\tarrangements\twhere\twe\tare\tthe\tlessor\tunder\toperating\tlease\tagreements\tfor\tenergy\tgeneration\tand\tstorage\tproducts,\twe\trecord\nlease\trevenue\tfrom\tminimum\tlease\tpayments,\tincluding\tupfront\trebates\tand\tincentives\tearned\tfrom\tsuch\tsystems,\ton\ta\tstraight-line\tbasis\tover\tthe\tlife\tof\nthe\tlease\tterm,\tassuming\tall\tother\trevenue\trecognition\tcriteria\thave\tbeen\tmet.\tThe\tdifference\tbetween\tthe\tpayments\treceived\tand\tthe\trevenue\nrecognized\tis\trecorded\tas\tdeferred\trevenue\ton\tthe\tconsolidated\tbalance\tsheet.\nFor\tsolar\tenergy\tsystems\twhere\tcustomers\tpurchase\telectricity\tfrom\tus\tunder\tPPAs\tprior\tto\tJanuary\t1,\t2019,\twe\thave\tdetermined\tthat\tthese\nagreements\tshould\tbe\taccounted\tfor\tas\toperating\tleases\tpursuant\tto\tASC\t840.\tRevenue\tis\trecognized\tbased\ton\tthe\tamount\tof\telectricity\tdelivered\tat\nrates\tspecified\tunder\tthe\tcontracts,\tassuming\tall\tother\trevenue\trecognition\tcriteria\tare\tmet."}


created_at: 2024-04-06 13:59:07
topic: persistent://default/default/19a10f6c-edf5-4774-8347-509021fad678
id: c5d6156a-f41d-11ee-a3fb-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "tesla-annual-reports/tsla-10k_20191231-gen_0.pdf", "page": 48, "chroma:document": "We\trecord\tas\tdeferred\trevenue\tany\tamounts\tthat\tare\tcollected\tfrom\tcustomers,\tincluding\tlease\tprepayments,\tin\texcess\tof\trevenue\trecognized\nand\toperations\tand\tmaintenance\tservice,\twhich\tis\trecognized\tas\trevenue\tratably\tover\tthe\trespective\tcustomer\tcontract\tterm.\tDeferred\trevenue\talso\nincludes\tthe\tportion\tof\trebates\tand\tincentives\treceived\tfrom\tutility\tcompanies\tand\tvarious\tlocal\tand\tstate\tgovernment\tagencies,\twhich\tis\trecognized\tas\nrevenue\tover\tthe\tlease\tterm.\nWe\tcapitalize\tinitial\tdirect\tcosts\tfrom\t\nthe\texecution\tof\tagreements\tfor\tsolar\tenergy\tsystems\t\nand\tPPAs,\twhich\tinclude\tthe\treferral\tfees\tand\tsales\ncommissions,\tas\tan\telement\tof\tsolar\tenergy\tsystems,\tnet,\tand\tsubsequently\tamortize\tthese\tcosts\tover\tthe\tterm\tof\tthe\trelated\tagreements.\nInventory\tValuation\nInventories\tare\tstated\tat\tthe\tlower\tof\tcost\tor\tnet\trealizable\tvalue.\tCost\tis\tcomputed\tusing\tstandard\tcost\tfor\tvehicles\tand\tenergy\tstorage\nproducts,\twhich\tapproximates\tactual\tcost\ton\ta\tfirst-in,\tfirst-out\tbasis.\tIn\taddition,\tcost\tfor\tsolar\tenergy\tsystems\tis\trecorded\tusing\tactual\tcost.\tWe\trecord\ninventory\twrite-downs\tfor\texcess\tor\tobsolete\tinventories\tbased\tupon\tassumptions\tabout\tcurrent\tand\tfuture\tdemand\tforecasts.\tIf\tour\tinventory\ton-hand\nis\tin\texcess\tof\tour\tfuture\tdemand\tforecast,\tthe\texcess\tamounts\tare\twritten-off.\n46"}


created_at: 2024-04-06 13:59:07
topic: persistent://default/default/19a10f6c-edf5-4774-8347-509021fad678
id: c5d615c4-f41d-11ee-a3fb-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "tesla-annual-reports/tsla-10k_20191231-gen_0.pdf", "page": 49, "chroma:document": "We\talso\treview\tour\tinventory\tto\tdetermine\twhether\tits\tcarrying\tvalue\texceeds\tthe\tnet\tamount\trealizable\tupon\tthe\tultimate\tsale\tof\tthe\tinventory.\nThis\trequires\tus\tto\tdetermine\tthe\testimated\tselling\tprice\tof\tour\tvehicles\tless\tthe\testimated\tcost\tto\tconvert\tthe\tinventory\ton-hand\tinto\ta\tfinished\tproduct.\nOnce\tinventory\tis\twritten-down,\ta\tnew,\tlower\tcost\tbasis\tfor\tthat\tinventory\tis\testablished\tand\tsubsequent\tchanges\tin\tfacts\tand\tcircumstances\tdo\tnot\nresult\tin\tthe\trestoration\tor\tincrease\tin\tthat\tnewly\testablished\tcost\tbasis.\nShould\tour\testimates\tof\tfuture\tselling\tprices\tor\tproduction\tcosts\tchange,\tadditional\tand\tpotentially\tmaterial\tincreases\tto\tthis\treserve\tmay\tbe\nrequired.\tA\tsmall\tchange\tin\tour\testimates\tmay\tresult\tin\ta\tmaterial\tcharge\tto\tour\treported\tfinancial\tresults.\nWarranties\nWe\tprovide\ta\tmanufacturer\u2019s\twarranty\ton\tall\tnew\tand\tused\tvehicles\tand\tproduction\tpowertrain\tcomponents\tand\tsystems\twe\tsell.\tIn\taddition,\twe\nalso\tprovide\ta\twarranty\ton\tthe\tinstallation\tand\tcomponents\tof\tthe\tenergy\tgeneration\tand\tstorage\tsystems\twe\tsell\tfor\tperiods\ttypically\tbetween\t10\tto\t25\nyears.\tWe\taccrue\ta\twarranty\treserve\tfor\tthe\tproducts\tsold\tby\tus,\twhich\tincludes\tour\tbest\testimate\tof\tthe\tprojected\tcosts\tto\trepair\tor\treplace\titems\nunder\twarranties\tand\trecalls\twhen\tidentified.\tThese\testimates\tare\tbased\ton\tactual\tclaims\tincurred\tto\tdate\tand\tan\testimate\tof\tthe\tnature,\tfrequency\tand\ncosts\tof\tfuture\tclaims.\tThese\testimates\tare\tinherently\tuncertain\tgiven\tour\trelatively\tshort\thistory\tof\tsales,\tand\tchanges\tto\tour\thistorical\tor\tprojected\nwarranty\texperience\tmay\tcause\tmaterial\tchanges\tto\tthe\twarranty\treserve\tin\tthe\tfuture.\tThe\twarranty\treserve\tdoes\tnot\tinclude\tprojected\twarranty\tcosts"}


created_at: 2024-04-06 13:59:07
topic: persistent://default/default/19a10f6c-edf5-4774-8347-509021fad678
id: c5d6161e-f41d-11ee-a3fb-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "tesla-annual-reports/tsla-10k_20191231-gen_0.pdf", "page": 49, "chroma:document": "associated\twith\tour\tvehicles\tsubject\tto\tlease\taccounting\tand\tour\tsolar\tenergy\tsystems\tunder\tlease\tcontracts\tor\tPPAs,\tas\tthe\tcosts\tto\trepair\tthese\nwarranty\tclaims\tare\texpensed\tas\tincurred.\tThe\tportion\tof\tthe\twarranty\treserve\texpected\tto\tbe\tincurred\twithin\tthe\tnext\t12\tmonths\tis\tincluded\twithin\naccrued\tliabilities\tand\tother,\twhile\tthe\tremaining\tbalance\tis\tincluded\twithin\tother\tlong-term\tliabilities\ton\tthe\tconsolidated\tbalance\tsheets.\tWarranty\nexpense\tis\trecorded\tas\ta\tcomponent\tof\tcost\tof\trevenues\tin\tthe\tconsolidated\tstatements\tof\toperations.\nStock-Based\tCompensation\nWe\tuse\tthe\tfair\tvalue\tmethod\tof\taccounting\tfor\tour\tstock\toptions\tand\trestricted\tstock\tunits\t(\u201cRSUs\u201d)\tgranted\tto\temployees\tand\tour\temployee\nstock\tpurchase\tplan\t(the\t\u201cESPP\u201d)\tto\tmeasure\tthe\tcost\tof\temployee\tservices\treceived\tin\texchange\tfor\tthe\tstock-based\tawards.\tThe\tfair\tvalue\tof\tstock\noption\tawards\twith\tonly\tservice\tand/or\tperformance\tconditions\tand\tESPP\tis\testimated\ton\tthe\tgrant\tor\toffering\tdate\tusing\tthe\tBlack-Scholes\toption-\npricing\tmodel.\tThe\tBlack-Scholes\toption-pricing\tmodel\trequires\tinputs\tsuch\tas\tthe\trisk-free\tinterest\trate,\texpected\tterm\tand\texpected\tvolatility.\tThese\ninputs\tare\tsubjective\tand\tgenerally\trequire\tsignificant\tjudgment.\tThe\tfair\tvalue\tof\tRSUs\tis\tmeasured\ton\tthe\tgrant\tdate\tbased\ton\tthe\tclosing\tfair\tmarket\nvalue\tof\tour\tcommon\tstock.\tThe\tresulting\tcost\tis\trecognized\tover\tthe\tperiod\tduring\twhich\tan\temployee\tis\trequired\tto\tprovide\tservice\tin\texchange\tfor\tthe\nawards,\tusually\tthe\tvesting\tperiod,\twhich\tis\tgenerally\tfour\tyears\tfor\tstock\toptions\tand\tRSUs\tand\tsix\tmonths\tfor\tthe\tESPP.\tStock-based\tcompensation\nexpense\tis\trecognized\ton\ta\tstraight-line\tbasis,\tnet\tof\tactual\tforfeitures\tin\tthe\tperiod.\nFor\tperformance-based\tawards,\tstock-based\tcompensation\texpense\tis\trecognized\tover\tthe\texpected\tperformance\tachievement\tperiod\tof"}


created_at: 2024-04-06 13:59:07
topic: persistent://default/default/19a10f6c-edf5-4774-8347-509021fad678
id: c5d61678-f41d-11ee-a3fb-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "tesla-annual-reports/tsla-10k_20191231-gen_0.pdf", "page": 49, "chroma:document": "individual\tperformance\tmilestones\twhen\tthe\tachievement\tof\teach\tindividual\tperformance\tmilestone\tbecomes\tprobable.\tFor\tperformance-based\tawards\nwith\ta\tvesting\tschedule\tbased\tentirely\ton\tthe\tattainment\tof\tboth\tperformance\tand\tmarket\tconditions,\tstock-based\tcompensation\texpense\tassociated\nwith\teach\ttranche\tis\trecognized\tover\tthe\tlonger\tof\t(i)\tthe\texpected\tachievement\tperiod\tfor\tthe\toperational\tmilestone\tfor\tsuch\ttranche\tand\t(ii)\tthe\nexpected\tachievement\tperiod\tfor\tthe\trelated\tmarket\tcapitalization\tmilestone\tdetermined\ton\tthe\tgrant\tdate,\tbeginning\tat\tthe\tpoint\tin\ttime\twhen\tthe\nrelevant\toperational\tmilestone\tis\tconsidered\tprobable\tof\tbeing\tmet.\tIf\tsuch\toperational\tmilestone\tbecomes\tprobable\tany\ttime\tafter\tthe\tgrant\tdate,\twe\nwill\trecognize\ta\tcumulative\tcatch-up\texpense\tfrom\tthe\tgrant\tdate\tto\tthat\tpoint\tin\ttime.\tIf\tthe\trelated\tmarket\tcapitalization\tmilestone\tis\tachieved\tearlier\nthan\tits\texpected\tachievement\tperiod\tand\tthe\tachievement\tof\tthe\trelated\toperational\tmilestone,\tthen\tthe\tstock-based\tcompensation\texpense\twill\tbe\nrecognized\tover\tthe\texpected\tachievement\tperiod\tfor\tthe\toperational\tmilestone,\twhich\tmay\taccelerate\tthe\trate\tat\twhich\tsuch\texpense\tis\trecognized.\tIf\nadditional\toperational\tmilestones\tbecome\tprobable,\tstock-based\tcompensation\texpense\twill\tbe\trecorded\tin\tthe\tperiod\tit\tbecomes\tprobable\tincluding\ncumulative\tcatch-up\texpense\tfor\tthe\tservice\tprovided\tsince\tthe\tgrant\tdate.\tThe\tfair\tvalue\tof\tsuch\tawards\tis\testimated\ton\tthe\tgrant\tdate\tusing\tMonte\nCarlo\tsimulations.\n47"}


created_at: 2024-04-06 13:59:07
topic: persistent://default/default/19a10f6c-edf5-4774-8347-509021fad678
id: c5d616dc-f41d-11ee-a3fb-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "tesla-annual-reports/tsla-10k_20191231-gen_0.pdf", "page": 50, "chroma:document": "As\twe\taccumulate\tadditional\temployee\tstock-based\tawards\tdata\tover\ttime\tand\tas\twe\tincorporate\tmarket\tdata\trelated\tto\tour\tcommon\tstock,\twe\nmay\tcalculate\tsignificantly\tdifferent\tvolatilities\tand\texpected\tlives,\twhich\tcould\tmaterially\timpact\tthe\tvaluation\tof\tour\tstock-based\tawards\tand\tthe\tstock-\nbased\tcompensation\texpense\tthat\twe\twill\trecognize\tin\tfuture\tperiods.\tStock-based\tcompensation\texpense\tis\trecorded\tin\tcost\tof\trevenues,\tresearch\tand\ndevelopment\texpense\tand\tselling,\tgeneral\tand\tadministrative\texpense\tin\tthe\tconsolidated\tstatements\tof\toperations.\nIncome\tTaxes\nWe\tare\tsubject\tto\tfederal\tand\tstate\ttaxes\tin\tthe\tU.S.\tand\tin\tmany\tforeign\tjurisdictions.\tSignificant\tjudgment\tis\trequired\tin\tdetermining\tour\nprovision\tfor\tincome\ttaxes,\tour\tdeferred\ttax\tassets\tand\tliabilities\tand\tany\tvaluation\tallowance\trecorded\tagainst\tour\tnet\tdeferred\ttax\tassets.\tWe\tmake\nthese\testimates\tand\tjudgments\tabout\tour\tfuture\ttaxable\tincome\tthat\tare\tbased\ton\tassumptions\tthat\tare\tconsistent\twith\tour\tfuture\tplans.\tTax\tlaws,\nregulations,\tand\tadministrative\tpractices\tmay\tbe\tsubject\tto\tchange\tdue\tto\teconomic\tor\tpolitical\tconditions\tincluding\tfundamental\tchanges\tto\tthe\ttax\nlaws\tapplicable\tto\tcorporate\tmultinationals.\tThe\tU.S.,\tmany\tcountries\tin\tthe\tEuropean\tUnion\tand\ta\tnumber\tof\tother\tcountries\tare\tactively\tconsidering\nchanges\tin\tthis\tregard.\tAs\tof\tDecember\t31,\t2019,\twe\thad\trecorded\ta\tfull\tvaluation\tallowance\ton\tour\tnet\tU.S.\tdeferred\ttax\tassets\tbecause\twe\texpect\tthat\nit\tis\tmore\tlikely\tthan\tnot\tthat\tour\tU.S.\tdeferred\ttax\tassets\twill\tnot\tbe\trealized\tin\tthe\tforeseeable\tfuture.\tShould\tthe\tactual\tamounts\tdiffer\tfrom\tour\nestimates,\tthe\tamount\tof\tour\tvaluation\tallowance\tcould\tbe\tmaterially\timpacted."}


created_at: 2024-04-06 13:59:07
topic: persistent://default/default/19a10f6c-edf5-4774-8347-509021fad678
id: c5d61736-f41d-11ee-a3fb-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "tesla-annual-reports/tsla-10k_20191231-gen_0.pdf", "page": 50, "chroma:document": "Furthermore,\tsignificant\tjudgment\tis\trequired\tin\tevaluating\tour\ttax\tpositions.\tIn\tthe\tordinary\tcourse\tof\tbusiness,\tthere\tare\tmany\ttransactions\nand\tcalculations\tfor\twhich\tthe\tultimate\ttax\tsettlement\tis\tuncertain.\tAs\ta\tresult,\twe\trecognize\tthe\teffect\tof\tthis\tuncertainty\ton\tour\ttax\tattributes\tbased\ton\nour\testimates\tof\tthe\teventual\toutcome.\tThese\teffects\tare\trecognized\twhen,\tdespite\tour\tbelief\tthat\tour\ttax\treturn\tpositions\tare\tsupportable,\twe\tbelieve\nthat\tit\tis\tmore\tlikely\tthan\tnot\tthat\tthose\tpositions\tmay\tnot\tbe\tfully\tsustained\tupon\treview\tby\ttax\tauthorities.\tWe\tare\trequired\tto\tfile\tincome\ttax\treturns\nin\tthe\tU.S.\tand\tvarious\tforeign\tjurisdictions,\twhich\trequires\tus\tto\tinterpret\tthe\tapplicable\ttax\tlaws\tand\tregulations\tin\teffect\tin\tsuch\tjurisdictions.\tSuch\nreturns\tare\tsubject\tto\taudit\tby\tthe\tvarious\tfederal,\tstate\tand\tforeign\ttaxing\tauthorities,\twho\tmay\tdisagree\twith\trespect\tto\tour\ttax\tpositions.\tWe\tbelieve\nthat\tour\tconsideration\tis\tadequate\tfor\tall\topen\taudit\tyears\tbased\ton\tour\tassessment\tof\tmany\tfactors,\tincluding\tpast\texperience\tand\tinterpretations\tof\ntax\tlaw.\tWe\treview\tand\tupdate\tour\testimates\tin\tlight\tof\tchanging\tfacts\tand\tcircumstances,\tsuch\tas\tthe\tclosing\tof\ta\ttax\taudit,\tthe\tlapse\tof\ta\tstatute\tof\nlimitations\tor\ta\tchange\tin\testimate.\tTo\tthe\textent\tthat\tthe\tfinal\ttax\toutcome\tof\tthese\tmatters\tdiffers\tfrom\tour\texpectations,\tsuch\tdifferences\tmay\timpact\nincome\ttax\texpense\tin\tthe\tperiod\tin\twhich\tsuch\tdetermination\tis\tmade.\tThe\teventual\timpact\ton\tour\tincome\ttax\texpense\tdepends\tin\tpart\tif\twe\tstill\thave\ta\nvaluation\tallowance\trecorded\tagainst\tour\tdeferred\ttax\tassets\tin\tthe\tperiod\tthat\tsuch\tdetermination\tis\tmade.\nPrinciples\tof\tConsolidation"}


created_at: 2024-04-06 13:59:07
topic: persistent://default/default/19a10f6c-edf5-4774-8347-509021fad678
id: c5d61790-f41d-11ee-a3fb-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "tesla-annual-reports/tsla-10k_20191231-gen_0.pdf", "page": 50, "chroma:document": "Principles\tof\tConsolidation\nThe\tconsolidated\tfinancial\tstatements\treflect\tour\taccounts\tand\toperations\tand\tthose\tof\tour\tsubsidiaries\tin\twhich\twe\thave\ta\tcontrolling\tfinancial\ninterest.\tIn\taccordance\twith\tthe\tprovisions\tof\tASC\t810,\t\nConsolidation\n,\twe\tconsolidate\tany\tvariable\tinterest\tentity\t(\u201cVIE\u201d)\tof\twhich\twe\tare\tthe\tprimary\nbeneficiary.\tWe\tform\tVIEs\twith\tour\tfinancing\tfund\tinvestors\tin\tthe\tordinary\tcourse\tof\tbusiness\tin\torder\tto\tfacilitate\tthe\tfunding\tand\tmonetization\tof\ncertain\tattributes\tassociated\twith\tour\tsolar\tenergy\tsystems\tand\t\nleases\tunder\tour\tdirect\tvehicle\tleasing\tprograms\n.\tThe\ttypical\tcondition\tfor\ta\tcontrolling\nfinancial\tinterest\townership\tis\tholding\ta\tmajority\tof\tthe\tvoting\tinterests\tof\tan\tentity;\thowever,\ta\tcontrolling\tfinancial\tinterest\tmay\talso\texist\tin\tentities,\nsuch\tas\tVIEs,\tthrough\tarrangements\tthat\tdo\tnot\tinvolve\tcontrolling\tvoting\tinterests.\tASC\t810\trequires\ta\tvariable\tinterest\tholder\tto\tconsolidate\ta\tVIE\tif\nthat\tparty\thas\tthe\tpower\tto\tdirect\tthe\tactivities\tof\tthe\tVIE\tthat\tmost\tsignificantly\timpact\tthe\tVIE\u2019s\teconomic\tperformance\tand\tthe\tobligation\tto\tabsorb\nlosses\tof\tthe\tVIE\tthat\tcould\tpotentially\tbe\tsignificant\tto\tthe\tVIE\tor\tthe\tright\tto\treceive\tbenefits\tfrom\tthe\tVIE\tthat\tcould\tpotentially\tbe\tsignificant\tto\tthe\nVIE.\tWe\tdo\tnot\tconsolidate\ta\tVIE\tin\twhich\twe\thave\ta\tmajority\townership\tinterest\twhen\twe\tare\tnot\tconsidered\tthe\tprimary\tbeneficiary.\tWe\thave\ndetermined\tthat\twe\tare\tthe\tprimary\tbeneficiary\tof\tall\tthe\tVIEs.\tWe\tevaluate\tour\trelationships\twith\tall\tthe\tVIEs\ton\tan\tongoing\tbasis\tto\tensure\tthat\twe\ncontinue\tto\tbe\tthe\tprimary\tbeneficiary.\tAll\tintercompany\ttransactions\tand\tbalances\thave\tbeen\teliminated\tupon\tconsolidation.\n48"}


created_at: 2024-04-06 13:59:07
topic: persistent://default/default/19a10f6c-edf5-4774-8347-509021fad678
id: c5d617ea-f41d-11ee-a3fb-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "tesla-annual-reports/tsla-10k_20191231-gen_0.pdf", "page": 51, "chroma:document": "Noncontrolling\tInterests\tand\tRedeemable\tNoncontrolling\tInterests\nNoncontrolling\tinterests\tand\tredeemable\tnoncontrolling\tinterests\trepresent\tthird-party\tinterests\tin\tthe\tnet\tassets\tunder\tcertain\tfunding\narrangements,\tor\tfunds,\tthat\twe\tenter\tinto\tto\tfinance\tthe\tcosts\tof\tsolar\tenergy\tsystems\tand\tvehicles\tunder\toperating\tleases.\tWe\thave\tdetermined\tthat\nthe\tcontractual\tprovisions\tof\tthe\tfunds\trepresent\tsubstantive\tprofit\tsharing\tarrangements.\tWe\thave\tfurther\tdetermined\tthat\tthe\tappropriate\nmethodology\tfor\tcalculating\tthe\tnoncontrolling\tinterest\tand\tredeemable\tnoncontrolling\tinterest\tbalances\tthat\treflects\tthe\tsubstantive\tprofit\tsharing\narrangements\tis\ta\tbalance\tsheet\tapproach\tusing\tthe\thypothetical\tliquidation\tat\tbook\tvalue\t(\u201cHLBV\u201d)\tmethod.\tWe,\ttherefore,\tdetermine\tthe\tamount\tof\nthe\tnoncontrolling\tinterests\tand\tredeemable\tnoncontrolling\tinterests\tin\tthe\tnet\tassets\tof\tthe\tfunds\tat\teach\tbalance\tsheet\tdate\tusing\tthe\tHLBV\tmethod,\nwhich\tis\tpresented\ton\tthe\tconsolidated\tbalance\tsheet\tas\tnoncontrolling\tinterests\tin\tsubsidiaries\tand\tredeemable\tnoncontrolling\tinterests\tin\tsubsidiaries.\nUnder\tthe\tHLBV\tmethod,\tthe\tamounts\treported\tas\tnoncontrolling\tinterests\tand\tredeemable\tnoncontrolling\tinterests\tin\tthe\tconsolidated\tbalance\tsheet\nrepresent\tthe\tamounts\tthe\tthird-parties\twould\thypothetically\treceive\tat\teach\tbalance\tsheet\tdate\tunder\tthe\tliquidation\tprovisions\tof\tthe\tfunds,\tassuming\nthe\tnet\tassets\tof\tthe\tfunds\twere\tliquidated\tat\ttheir\trecorded\tamounts\tdetermined\tin\taccordance\twith\tGAAP\tand\twith\ttax\tlaws\teffective\tat\tthe\tbalance\nsheet\tdate\tand\tdistributed\tto\tthe\tthird-parties.\tThe\tthird-parties\u2019\tinterests\tin\tthe\tresults\tof\toperations\tof\tthe\tfunds\tare\tdetermined\tas\tthe\tdifference\tin"}


created_at: 2024-04-06 13:59:07
topic: persistent://default/default/19a10f6c-edf5-4774-8347-509021fad678
id: c5d6186c-f41d-11ee-a3fb-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "tesla-annual-reports/tsla-10k_20191231-gen_0.pdf", "page": 51, "chroma:document": "the\tnoncontrolling\tinterest\tand\tredeemable\tnoncontrolling\tinterest\tbalances\tin\tthe\tconsolidated\tbalance\tsheets\tbetween\tthe\tstart\tand\tend\tof\teach\nreporting\tperiod,\tafter\ttaking\tinto\taccount\tany\tcapital\ttransactions\tbetween\tthe\tfunds\tand\tthe\tthird-parties.\tHowever,\tthe\tredeemable\tnoncontrolling\ninterest\tbalance\tis\tat\tleast\tequal\tto\tthe\tredemption\tamount.\tThe\tredeemable\tnoncontrolling\tinterest\tbalance\tis\tpresented\tas\ttemporary\tequity\tin\tthe\nmezzanine\tsection\tof\tthe\tconsolidated\tbalance\tsheet\tsince\tthese\tthird-parties\thave\tthe\tright\tto\tredeem\ttheir\tinterests\tin\tthe\tfunds\tfor\tcash\tor\tother\nassets.\n\t\n\t\nResults\tof\tOperations\nRevenues\n\t\n\t\n\t\nYear\tEnded\tDecember\t31,\n\t\n\t\n2019\tvs.\t2018\tChange\n\t\n\t\n2018\tvs.\t2017\tChange\n\t\n(Dollars\tin\tmillions)\n\t\n2019\n\t\n\t\n2018\n\t\n\t\n2017\n\t\n\t\n$\n\t\n\t\n%\n\t\n\t\n$\n\t\n\t\n%\n\t\nAutomotive\tsales\n\t\n$\n19,952\n\t\n\t\n$\n17,632\n\t\n\t\n$\n8,535\n\t\n\t\n$\n2,320\n\t\n\t\n\t\n13\n%\n\t\n$\n9,097\n\t\n\t\n\t\n107\n%\nAutomotive\tleasing\n\t\n\t\n869\n\t\n\t\n\t\n883\n\t\n\t\n\t\n1,107\n\t\n\t\n\t\n(14\n)\n\t\n\t\n-2\n%\n\t\n\t\n(224\n)\n\t\n\t\n-20\n%\nTotal\tautomotive\trevenues\n\t\n\t\n20,821\n\t\n\t\n\t\n18,515\n\t\n\t\n\t\n9,642\n\t\n\t\n\t\n2,306\n\t\n\t\n\t\n12\n%\n\t\n\t\n8,873\n\t\n\t\n\t\n92\n%\nServices\tand\tother"}


created_at: 2024-04-06 13:59:07
topic: persistent://default/default/19a10f6c-edf5-4774-8347-509021fad678
id: c5d618c6-f41d-11ee-a3fb-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "tesla-annual-reports/tsla-10k_20191231-gen_0.pdf", "page": 51, "chroma:document": "92\n%\nServices\tand\tother\n\t\n\t\n2,226\n\t\n\t\n\t\n1,391\n\t\n\t\n\t\n1,001\n\t\n\t\n\t\n835\n\t\n\t\n\t\n60\n%\n\t\n\t\n390\n\t\n\t\n\t\n39\n%\nTotal\tautomotive\t&\tservices\n\t\t\tand\tother\tsegment\trevenue\n\t\n\t\n23,047\n\t\n\t\n\t\n19,906\n\t\n\t\n\t\n10,643\n\t\n\t\n\t\n3,141\n\t\n\t\n\t\n16\n%\n\t\n\t\n9,263\n\t\n\t\n\t\n87\n%\nEnergy\tgeneration\tand\n\t\t\tstorage\tsegment\trevenue\n\t\n\t\n1,531\n\t\n\t\n\t\n1,555\n\t\n\t\n\t\n1,116\n\t\n\t\n\t\n(24\n)\n\t\n\t\n-2\n%\n\t\n\t\n439\n\t\n\t\n\t\n39\n%\nTotal\trevenues\n\t\n$\n24,578\n\t\n\t\n$\n21,461\n\t\n\t\n$\n11,759\n\t\n\t\n$\n3,117\n\t\n\t\n\t\n15\n%\n\t\n$\n9,702\n\t\n\t\n\t\n83\n%\n\t\nAutomotive\t&\tServices\tand\tOther\tSegment\nAutomotive\tsales\trevenue\tincludes\trevenues\trelated\tto\tcash\tsales\tof\tnew\tModel\tS,\tModel\tX\tand\tModel\t3\tvehicles,\tincluding\taccess\tto\tour\nSupercharger\tnetwork,\tinternet\tconnectivity,\tAutopilot\tand\tFSD\tfeatures\tand\tover-the-air\tsoftware\tupdates,\tas\twell\tas\tsales\tof\tregulatory\tcredits\tto\nother\tautomotive\tmanufacturers.\tCash\tdeliveries\tare\tvehicles\tthat\tare\tnot\tsubject\tto\tlease\taccounting.\nAutomotive\tleasing\trevenue\tincludes\tthe\tamortization\tof\trevenue\tfor\tModel\tS,\tModel\tX\tand\tModel\t3\tvehicles\tunder\tdirect\tlease\tagreements\tas"}


created_at: 2024-04-06 13:59:07
topic: persistent://default/default/19a10f6c-edf5-4774-8347-509021fad678
id: c5d61920-f41d-11ee-a3fb-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "tesla-annual-reports/tsla-10k_20191231-gen_0.pdf", "page": 51, "chroma:document": "well\tas\tthose\tsold\twith\tresale\tvalue\tguarantees\taccounted\tfor\tas\toperating\tleases\tunder\tlease\taccounting.\tWe\tbegan\toffering\tdirect\tleasing\tfor\tModel\t3\nvehicles\tin\tthe\tsecond\tquarter\tof\t2019.\nServices\tand\tother\trevenue\tconsists\tof\tnon-warranty\tafter-sales\tvehicle\tservices,\tsales\tof\tused\tvehicles,\tretail\tmerchandise,\tsales\tby\tour\nacquired\tsubsidiaries\tto\tthird\tparty\tcustomers,\tand\tvehicle\tinsurance\trevenue.\n49"}


created_at: 2024-04-06 13:59:07
topic: persistent://default/default/19a10f6c-edf5-4774-8347-509021fad678
id: c5d61984-f41d-11ee-a3fb-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "tesla-annual-reports/tsla-10k_20191231-gen_0.pdf", "page": 52, "chroma:document": "201\n9\n\tCompared\tto\t201\n8\nAutomotive\tsales\trevenue\tincreased\t$2.32\tbillion,\tor\t13%,\tin\tthe\tyear\tended\tDecember\t31,\t2019\tas\tcompared\tto\tthe\tyear\tended\tDecember\t31,\n2018,\tprimarily\tdue\tto\tan\tincrease\tof\t137,969\tModel\t3\tcash\tdeliveries\tfrom\tproduction\tscaling\tand\tan\tincrease\tof\t$175\tmillion\tin\tsales\tof\tregulatory\ncredits\tto\t$594\tmillion.\tThe\tincrease\twas\tpartially\toffset\tby\ta\tdecrease\tof\t30,487\tModel\tS\tand\tModel\tX\tcash\tdeliveries.\tThe\tdeliveries\tin\tthe\tyear\tended\nDecember\t31,\t2019\twere\tat\tlower\taverage\tselling\tprices\tthan\tthe\tprior\tyear\tdue\tto\tprice\tadjustments\twe\tmade\tto\tour\tvehicle\tofferings\tand\tthe\nintroduction\tof\tlower\tend\tModel\t3\ttrims\tin\t2019.\tDue\tto\tthe\tprice\tadjustments,\twe\testimated\tthat\tthere\tis\ta\tgreater\tlikelihood\tthat\tcustomers\twill\nexercise\ttheir\tbuyback\toptions\tthat\twere\tprovided\tprior\tto\tsuch\tadjustments.\tAs\ta\tresult,\talong\twith\tthe\testimated\tvariable\tconsideration\trelated\tto\nnormal\tfuture\tproduct\treturns\tfor\tvehicles\tsold\tunder\tthe\tbuyback\toptions\tprogram,\twe\tadjusted\tour\tsales\treturn\treserve\ton\tvehicles\tpreviously\tsold\nunder\tour\tbuyback\toptions\tprogram\tresulting\tin\ta\treduction\tof\tautomotive\tsales\trevenues\tof\t$555\tmillion.\tRefer\tto\tNote\t2,\t\nSummary\tof\tSignificant\nAccounting\tPolicies,\n\tto\tthe\tconsolidated\tstatements\tincluded\telsewhere\tin\tthis\tAnnual\tReport\ton\tForm\t10-K.\nAutomotive\tleasing\trevenue\tdecreased\t$14\tmillion,\tor\t2%,\tin\tthe\tyear\tended\tDecember\t31,\t2019\tas\tcompared\tto\tthe\tyear\tended\nDecember\t31,\t2018.\tThe\tdecrease\twas\tprimarily\tdue\tto\ta\tdecrease\tin\tcumulative\tvehicles\tunder\tour\tresale\tvalue\tguarantee\tleasing\tprograms\twhich\tare"}


created_at: 2024-04-06 13:59:07
topic: persistent://default/default/19a10f6c-edf5-4774-8347-509021fad678
id: c5d619de-f41d-11ee-a3fb-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "tesla-annual-reports/tsla-10k_20191231-gen_0.pdf", "page": 52, "chroma:document": "accounted\tfor\tas\toperating\tleases.\tThe\tdecrease\twas\tpartially\toffset\tby\tan\tincrease\tin\tcumulative\tvehicles\tunder\tour\tdirect\tvehicle\tleasing\tprogram,\npartially\tdue\tto\tthe\tintroduction\tof\tModel\t3\tdirect\tleasing\tin\tthe\tsecond\tquarter\tof\t2019.\nServices\tand\tother\trevenue\tincreased\t$835\tmillion,\tor\t60%,\tin\tthe\tyear\tended\tDecember\t31,\t2019\tas\tcompared\tto\tthe\tyear\tended\tDecember\t31,\n2018.\tThe\tincrease\twas\tprimarily\tdue\tto\tan\tincrease\tin\tused\tvehicle\tsales\tfrom\tan\tincreased\tvolume\tof\ttrade-in\tvehicles,\tpartially\toffset\tby\tlower\naverage\tselling\tprices\tfor\ttraded-in\tTesla\tvehicles\tdue\tto\tprice\tadjustments\twe\tmade\tto\tour\tvehicle\tofferings\tin\t2019.\tAdditionally,\tthere\twas\tan\nincrease\tin\tnon-warranty\tmaintenance\tservices\trevenue\tas\tour\tfleet\tcontinues\tto\tgrow.\nEnergy\tGeneration\tand\tStorage\tSegment\nEnergy\tgeneration\tand\tstorage\trevenue\tincludes\tsales\tand\tleasing\tof\tsolar\tenergy\tgeneration\tand\tenergy\tstorage\tproducts,\tservices\trelated\tto\nsuch\tproducts,\tand\tsales\tof\tsolar\tenergy\tsystems\tincentives.\n2019\tCompared\tto\t2018\nEnergy\tgeneration\tand\tstorage\trevenue\tdecreased\tby\t$24\tmillion,\tor\t2%,\tin\tthe\tyear\tended\tDecember\t31,\t2019\tas\tcompared\tto\tthe\tyear\tended\nDecember\t31,\t2018,\tprimarily\tdue\tto\tdecreases\tin\tdeployments\tof\tsolar\tcash\tand\tloan\tjobs\tpartially\toffset\tincreases\tin\tdeployments\tof\tPowerwall,\nPowerpack,\tand\tMegapack.\n50"}


created_at: 2024-04-06 13:59:07
topic: persistent://default/default/19a10f6c-edf5-4774-8347-509021fad678
id: c5d61a38-f41d-11ee-a3fb-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "tesla-annual-reports/tsla-10k_20191231-gen_0.pdf", "page": 53, "chroma:document": "Cost\tof\tRevenues\tand\tGross\tMargin\n\t\n\t\n\t\nYear\tEnded\tDecember\t31,\n\t\n\t\n2019\tvs.\t2018\tChange\n\t\n\t\n2018\tvs.\t2017\tChange\n\t\n(Dollars\tin\tmillions)\n\t\n2019\n\t\n\t\n2018\n\t\n\t\n2017\n\t\n\t\n$\n\t\n\t\n%\n\t\n\t\n$\n\t\n\t\n%\n\t\nCost\tof\trevenues\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\nAutomotive\tsales\n\t\n$\n15,939\n\t\n\t\n$\n13,686\n\t\n\t\n$\n6,725\n\t\n\t\n$\n2,253\n\t\n\t\n\t\n16\n%\n\t\n$\n6,961\n\t\n\t\n\t\n104\n%\nAutomotive\tleasing\n\t\n\t\n459\n\t\n\t\n\t\n488\n\t\n\t\n\t\n708\n\t\n\t\n\t\n(29\n)\n\t\n\t\n-6\n%\n\t\n\t\n(220\n)\n\t\n\t\n-31\n%\nTotal\tautomotive\tcost\n\t\t\tof\trevenues\n\t\n\t\n16,398\n\t\n\t\n\t\n14,174\n\t\n\t\n\t\n7,433\n\t\n\t\n\t\n2,224\n\t\n\t\n\t\n16\n%\n\t\n\t\n6,741\n\t\n\t\n\t\n91\n%\nServices\tand\tother\n\t\n\t\n2,770\n\t\n\t\n\t\n1,880\n\t\n\t\n\t\n1,229\n\t\n\t\n\t\n890\n\t\n\t\n\t\n47\n%\n\t\n\t\n651\n\t\n\t\n\t\n53\n%\nTotal\tautomotive\t&\n\t\t\tservices\tand\tother\n\t\t\tsegment\tcost\tof\n\t\t\trevenues\n\t\n\t\n19,168\n\t\n\t\n\t\n16,054\n\t\n\t\n\t\n8,662"}


created_at: 2024-04-06 13:59:07
topic: persistent://default/default/19a10f6c-edf5-4774-8347-509021fad678
id: c5d61a92-f41d-11ee-a3fb-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "tesla-annual-reports/tsla-10k_20191231-gen_0.pdf", "page": 53, "chroma:document": "8,662\n\t\n\t\n\t\n3,114\n\t\n\t\n\t\n19\n%\n\t\n\t\n7,392\n\t\n\t\n\t\n85\n%\nEnergy\tgeneration\tand\n\t\t\tstorage\tsegment\n\t\n\t\n1,341\n\t\n\t\n\t\n1,365\n\t\n\t\n\t\n874\n\t\n\t\n\t\n(24\n)\n\t\n\t\n-2\n%\n\t\n\t\n491\n\t\n\t\n\t\n56\n%\nTotal\tcost\tof\trevenues\n\t\n$\n20,509\n\t\n\t\n$\n17,419\n\t\n\t\n$\n9,536\n\t\n\t\n$\n3,090\n\t\n\t\n\t\n18\n%\n\t\n$\n7,883\n\t\n\t\n\t\n83\n%\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\nGross\tprofit\ttotal\tautomotive\n\t\n$\n4,423\n\t\n\t\n$\n4,341\n\t\n\t\n$\n2,209\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\nGross\tmargin\ttotal\tautomotive\n\t\n\t\n21\n%\n\t\n\t\n23\n%\n\t\n\t\n23\n%\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\nGross\tprofit\ttotal\tautomotive\t&\n\t\t\tservices\tand\tother\tsegment\n\t\n$\n3,879\n\t\n\t\n$\n3,852\n\t\n\t\n$\n1,981"}


created_at: 2024-04-06 13:59:07
topic: persistent://default/default/19a10f6c-edf5-4774-8347-509021fad678
id: c5d61aec-f41d-11ee-a3fb-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "tesla-annual-reports/tsla-10k_20191231-gen_0.pdf", "page": 53, "chroma:document": "Gross\tmargin\ttotal\tautomotive\t&\n\t\t\tservices\tand\tother\tsegment\n\t\n\t\n17\n%\n\t\n\t\n19\n%\n\t\n\t\n19\n%\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\nGross\tprofit\tenergy\tgeneration\n\t\t\tand\tstorage\tsegment\n\t\n$\n190\n\t\n\t\n$\n190\n\t\n\t\n$\n242\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\nGross\tmargin\tenergy\tgeneration\n\t\t\tand\tstorage\tsegment\n\t\n\t\n12\n%\n\t\n\t\n12\n%\n\t\n\t\n22\n%\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\nTotal\tgross\tprofit\n\t\n$\n4,069\n\t\n\t\n$\n4,042\n\t\n\t\n$\n2,223\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\nTotal\tgross\tmargin\n\t\n\t\n17\n%\n\t\n\t\n19\n%\n\t\n\t\n19\n%\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\nAutomotive\t&\tServices\tand\tOther\tSegment"}


created_at: 2024-04-06 13:59:07
topic: persistent://default/default/19a10f6c-edf5-4774-8347-509021fad678
id: c5d61b46-f41d-11ee-a3fb-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "tesla-annual-reports/tsla-10k_20191231-gen_0.pdf", "page": 53, "chroma:document": "Automotive\t&\tServices\tand\tOther\tSegment\nCost\tof\tautomotive\tsales\trevenue\tincludes\tdirect\tparts,\tmaterial\tand\tlabor\tcosts,\tmanufacturing\toverhead,\tincluding\tdepreciation\tcosts\tof\ntooling\tand\tmachinery,\tshipping\tand\tlogistic\tcosts,\tvehicle\tconnectivity\tcosts,\tallocations\tof\telectricity\tand\tinfrastructure\tcosts\trelated\tto\tour\nSupercharger\tnetwork,\tand\treserves\tfor\testimated\twarranty\texpenses.\tCost\tof\tautomotive\tsales\trevenues\talso\tincludes\tadjustments\tto\twarranty\texpense\nand\tcharges\tto\twrite\tdown\tthe\tcarrying\tvalue\tof\tour\tinventory\twhen\tit\texceeds\tits\testimated\tnet\trealizable\tvalue\tand\tto\tprovide\tfor\tobsolete\tand\ton-\nhand\tinventory\tin\texcess\tof\tforecasted\tdemand.\nCost\tof\tautomotive\tleasing\trevenue\tincludes\tprimarily\tthe\tamortization\tof\toperating\tlease\tvehicles\tover\tthe\tlease\tterm,\tas\twell\tas\twarranty\nexpenses\trecognized\tas\tincurred.\tCost\tof\tautomotive\tleasing\trevenue\talso\tincludes\tvehicle\tconnectivity\tcosts\tand\tallocations\tof\telectricity\tand\ninfrastructure\tcosts\trelated\tto\tour\tSupercharger\tnetwork\tfor\tvehicles\tunder\tour\tleasing\tprograms.\nCosts\tof\tservices\tand\tother\trevenue\tincludes\tcosts\tassociated\twith\tproviding\tnon-warranty\tafter-sales\t\nservices\n,\tcosts\tto\tacquire\tand\tcertify\tused\nvehicles,\tcosts\tfor\tretail\tmerchandise,\tand\tcosts\tto\tprovide\tvehicle\tinsurance.\tCost\tof\tservices\tand\tother\trevenue\talso\tincludes\tdirect\tparts,\tmaterial\tand\nlabor\tcosts,\tmanufacturing\toverhead\tassociated\twith\tthe\tsales\tby\tour\tacquired\tsubsidiaries\tto\tthird\tparty\tcustomers.\n51"}


created_at: 2024-04-06 13:59:07
topic: persistent://default/default/19a10f6c-edf5-4774-8347-509021fad678
id: c5d61ba0-f41d-11ee-a3fb-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "tesla-annual-reports/tsla-10k_20191231-gen_0.pdf", "page": 54, "chroma:document": "201\n9\n\tCompared\tto\t201\n8\nCost\tof\tautomotive\tsales\trevenue\tincreased\t$2.25\tbillion,\tor\t16%,\tin\tthe\tyear\tended\tDecember\t31,\t2019\tas\tcompared\tto\tthe\tyear\tended\nDecember\t31,\t2018,\tprimarily\tdue\tto\tan\tincrease\tof\t137,969\tModel\t3\tcash\tdeliveries\tand\thigher\taverage\tModel\tS\tand\tModel\tX\tcosts\tper\tunit\tcompared\nto\tthe\tprior\tyear\tdue\tto\tthe\tdiscontinuation\tof\tlower\tend\ttrims\tin\t2019.\tThe\tincreases\twere\tpartially\toffset\tby\ta\tdecrease\tof\t30,487\tModel\tS\tand\tModel\tX\ncash\tdeliveries\tand\ta\tdecrease\tin\taverage\tModel\t3\tcosts\tper\tunit\tcompared\tto\tthe\tprior\tyear\tprimarily\tdue\tto\tlower\tend\ttrims\tintroduced\tin\t2019\tand\ntemporary\tunder-utilization\tof\tmanufacturing\tcapacity\tat\tlower\tproduction\tvolumes\tin\tthe\tfirst\thalf\tof\t2018.\tAdditionally,\tdue\tto\tprice\tadjustments\twe\nmade\tto\tour\tvehicle\tofferings\tin\t2019,\twe\testimated\tthat\tthere\tis\ta\tgreater\tlikelihood\tthat\tcustomers\twill\texercise\ttheir\tbuyback\toptions\tthat\twere\nprovided\tprior\tto\tsuch\tadjustments.\tIf\tcustomers\telect\tto\texercise\tthe\tbuyback\toptions,\twe\texpect\tto\tbe\table\tto\tsubsequently\tresell\tthe\treturned\nvehicles,\twhich\tresulted\tin\ta\treduction\tof\tautomotive\tcost\tof\tsales\tof\t$451\tmillion\tfor\tthe\tyear\tended\tDecember\t31,\t2019.\tRefer\tto\tNote\t2,\t\nSummary\tof\nSignificant\tAccounting\tPolicies\n,\tto\tthe\tconsolidated\tstatements\tincluded\telsewhere\tin\tthis\tAnnual\tReport\ton\tForm\t10-K.\nCost\tof\tautomotive\tleasing\trevenue\tdecreased\t$29\tmillion,\tor\t6%,\tin\tthe\tyear\tended\tDecember\t31,\t2019\tcompared\tto\tthe\tyear\tended"}


created_at: 2024-04-06 13:59:07
topic: persistent://default/default/19a10f6c-edf5-4774-8347-509021fad678
id: c5d61bfa-f41d-11ee-a3fb-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "tesla-annual-reports/tsla-10k_20191231-gen_0.pdf", "page": 54, "chroma:document": "December\t31,\t2018.\tThe\tdecrease\twas\tprimarily\tdue\tto\ta\tdecrease\tin\tcumulative\tvehicles\tunder\tour\tresale\tvalue\tguarantee\tleasing\tprograms\twhich\tare\naccounted\tfor\tas\toperating\tleases.\tThe\tdecrease\twas\tpartially\toffset\tby\tan\tincrease\tin\tcumulative\tvehicles\tunder\tour\tdirect\tvehicle\tleasing\tprogram,\npartially\tdue\tto\tthe\tintroduction\tof\tModel\t3\tleasing\tin\tthe\tsecond\tquarter\tof\t2019.\nCost\tof\tservices\tand\tother\trevenue\tincreased\t$890\tmillion,\tor\t47%,\tin\tthe\tyear\tended\tDecember\t31,\t2019\tas\tcompared\tto\tthe\tyear\tended\nDecember\t31,\t2018.\tThe\tincrease\twas\tprimarily\tdue\tto\tthe\tcosts\tof\tused\tvehicle\tsales\tfrom\tthe\tincreased\tvolumes\tof\ttrade-in\tvehicles.\tAdditionally,\nthere\twere\tincreases\tin\tthe\tcosts\tof\tour\tnew\tservice\tcenters,\tadditional\tservice\tpersonnel\tin\texisting\tand\tnew\tservice\tcenters,\tMobile\tService\ncapabilities,\tparts\tdistribution\tcenters\tand\tinvestment\tin\tnew\tbody\tshops\tto\tprovide\tmaintenance\tservices\tto\tour\trapidly\tgrowing\tfleet\tof\tvehicles.\nGross\tmargin\tfor\ttotal\tautomotive\tdecreased\tfrom\t23%\tto\t21%\tin\tthe\tyear\tended\tDecember\t31,\t2019\tas\tcompared\tto\tthe\tyear\tended\tDecember\n31,\t2018,\tprimarily\tdue\tto\tlower\tModel\tS\tand\tModel\tX\tmargins\tfrom\tlower\tselling\tprices\tdue\tto\tprice\tadjustments\twe\tmade\tto\tour\tvehicle\tofferings\tin\n2019,\ta\thigher\tproportion\tof\tModel\t3\tas\ta\tpercentage\tof\tour\ttotal\tautomotive\tsales\tcompared\tto\tthe\tprior\tperiod.\tAdditionally,\tthe\tprice\tadjustments\nalso\tresulted\tin\ta\treduction\tin\tgross\tautomotive\tsales\tprofit\tof\t$104\tmillion\tfrom\tthe\tadjustment\tof\tour\tsales\treturn\treserve\ton\tvehicles\tpreviously\tsold"}


created_at: 2024-04-06 13:59:07
topic: persistent://default/default/19a10f6c-edf5-4774-8347-509021fad678
id: c5d61c54-f41d-11ee-a3fb-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "tesla-annual-reports/tsla-10k_20191231-gen_0.pdf", "page": 54, "chroma:document": "under\tour\tbuyback\toptions\tprogram.\tThe\tdecrease\twas\tpartially\toffset\tby\timprovement\tof\tModel\t3\tmargins\tcompared\tto\tthe\tprior\tyear\tas\twe\tachieved\nadditional\tmanufacturing\tefficiencies\tin\tthe\tproduction\tof\tModel\t3\tand\tan\tincrease\tof\t$175\tmillion\tin\tsales\tof\tregulatory\tcredits.\nGross\tmargin\tfor\ttotal\tautomotive\t&\tservices\tand\tother\tsegment\tdecreased\tfrom\t19%\tto\t17%\tin\tthe\tyear\tended\tDecember\t31,\t2019\tas\tcompared\nto\tthe\tyear\tended\tDecember\t31,\t2018,\tprimarily\tdue\tto\tthe\tautomotive\tgross\tmargin\timpacts\tdiscussed\tabove\tand\ta\thigher\tproportion\tof\tservices\tand\nother\twithin\tthe\tsegment,\twhich\toperates\tat\tlower\tgross\tmargins\tthan\tour\tautomotive\tbusiness.\nEnergy\tGeneration\tand\tStorage\tSegment\nCost\tof\t\nenergy\tgeneration\tand\tstorage\trevenue\tincludes\tdirect\tand\tindirect\tmaterial\tand\tlabor\tcosts,\twarehouse\trent,\tfreight,\twarranty\texpense,\nother\toverhead\tcosts\tand\tamortization\tof\tcertain\tacquired\tintangible\tassets.\tIn\taddition,\twhere\tarrangements\tare\taccounted\tfor\tas\toperating\tleases,\tthe\ncost\tof\trevenue\tis\tprimarily\tcomprised\tof\tdepreciation\tof\tthe\tcost\tof\tleased\tsolar\tenergy\tsystems,\tmaintenance\tcosts\tassociated\twith\tthose\tsystems\tand\namortization\tof\tany\tinitial\tdirect\tcosts.\n2019\tCompared\tto\t2018\nCost\tof\tenergy\tgeneration\tand\tstorage\trevenue\tdecreased\tby\t$24\tmillion\t,\tor\t2%,\tin\tthe\tyear\tended\tDecember\t31,\t2019\tas\tcompared\tto\tthe\tyear\nended\tDecember\t31,\t2018.\tThe\tdecrease\twas\tprimarily\tdue\tto\ta\tdecrease\tin\tdeployments\tof\tsolar\tcash\tand\tloan\tjobs,\tpartially\toffset\tby\tincreases\tin\ndeployments\tof\tPowerwall,\tPowerpack,\tand\tMegapack.\n52"}


created_at: 2024-04-06 13:59:07
topic: persistent://default/default/19a10f6c-edf5-4774-8347-509021fad678
id: c5d61cb8-f41d-11ee-a3fb-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "tesla-annual-reports/tsla-10k_20191231-gen_0.pdf", "page": 55, "chroma:document": "Gross\tmargin\t\nfor\n\tenergy\tgeneration\tand\tstorage\t\nremained\trelatively\tconsistent\tat\t12%\t\nin\tthe\tyear\tended\t\nDecember\t31,\t2019\n\t\nas\t\ncompared\tto\tthe\nyear\tended\t\nDecember\t31,\t2018\n.\t\nEnergy\tstorage\tgross\tmargins\timproved\tin\tthe\tcurrent\tyear\tas\ta\tresult\tof\tlower\tmaterials\tcosts,\tpartially\toffset\tby\tlower\ngross\tmargins\tin\tour\tcash\tand\tloan\tsolar\tbusiness\tdriven\tby\thigher\tcosts\tfrom\ttemporary\tmanufacturing\tunder-utilization\tof\tour\tSolar\t\nR\noof\tramp.\nResearch\tand\tDevelopment\tExpense\n\t\n\t\n\t\nYear\tEnded\tDecember\t31,\n\t\n\t\n2019\tvs.\t2018\tChange\n\t\n\t\n2018\tvs.\t2017\tChange\n\t\n(Dollars\tin\tmillions)\n\t\n2019\n\t\n\t\n2018\n\t\n\t\n2017\n\t\n\t\n$\n\t\n\t\n%\n\t\n\t\n$\n\t\n\t\n%\n\t\nResearch\tand\tdevelopment\n\t\n$\n1,343\n\t\n\t\n$\n1,460\n\t\n\t\n$\n1,378\n\t\n\t\n$\n(117\n)\n\t\n\t\n-8\n%\n\t\n$\n82\n\t\n\t\n\t\n6\n%\nAs\ta\tpercentage\tof\trevenues\n\t\n\t\n5\n%\n\t\n\t\n7\n%\n\t\n\t\n12\n%\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\nResearch\tand\tdevelopment\t(\u201cR&D\u201d)\texpenses\tconsist\tprimarily\tof\tpersonnel\tcosts\tfor\tour\tteams\tin\tengineering\tand\tresearch,\tmanufacturing\nengineering\tand\tmanufacturing\ttest\torganizations,\tprototyping\texpense,\tcontract\tand\tprofessional\tservices\tand\tamortized\tequipment\texpense."}


created_at: 2024-04-06 13:59:07
topic: persistent://default/default/19a10f6c-edf5-4774-8347-509021fad678
id: c5d61d12-f41d-11ee-a3fb-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "tesla-annual-reports/tsla-10k_20191231-gen_0.pdf", "page": 55, "chroma:document": "R&D\texpenses\tas\ta\tpercentage\tof\trevenue\tdecreased\tfrom\t7%\tto\t5%\tin\tthe\tyear\tended\tDecember\t31,\t2019\tas\tcompared\tto\tthe\tyear\tended\nDecember\t31,\t2018.\tThe\tdecrease\twas\tprimarily\tfrom\tan\tincrease\tin\toverall\trevenues\tfrom\tour\texpanding\tsales,\tas\twell\tas\tfrom\tour\tfocus\ton\tincreasing\noperational\tefficiency\tand\tprocess\tautomation,\tour\tefforts\tto\tscale\tdown\tand\toptimize\tour\tcost\tstructure\trelative\tto\tthe\tsize\tof\tour\tbusiness.\nR&D\texpenses\tdecreased\t$117\tmillion,\tor\t8%,\tin\tthe\tyear\tended\tDecember\t31,\t2019\tcompared\tto\tthe\tyear\tended\tDecember\t31,\t2018.\tThe\ndecrease\twas\tprimarily\tdue\tto\ta\t$95\tmillion\tdecrease\tin\temployee\tand\tlabor\trelated\texpenses\tfrom\tcost\tefficiency\tinitiatives\tand\ta\t$26\tmillion\tdecrease\nin\tprofessional\tand\toutside\tservice\texpenses.\nSelling,\tGeneral\tand\tAdministrative\tExpense\n\t\n\t\n\t\nYear\tEnded\tDecember\t31,\n\t\n\t\n2019\tvs.\t2018\tChange\n\t\n\t\n2018\tvs.\t2017\tChange\n\t\n(Dollars\tin\tmillions)\n\t\n2019\n\t\n\t\n2018\n\t\n\t\n2017\n\t\n\t\n$\n\t\n\t\n%\n\t\n\t\n$\n\t\n\t\n%\n\t\nSelling,\tgeneral\tand\tadministrative\n\t\n$\n2,646\n\t\n\t\n$\n2,835\n\t\n\t\n$\n2,477\n\t\n\t\n$\n(189\n)\n\t\n\t\n-7\n%\n\t\n$\n358\n\t\n\t\n\t\n14\n%\nAs\ta\tpercentage\tof\trevenues\n\t\n\t\n11\n%\n\t\n\t\n13\n%\n\t\n\t\n21\n%"}


created_at: 2024-04-06 13:59:07
topic: persistent://default/default/19a10f6c-edf5-4774-8347-509021fad678
id: c5d61d6c-f41d-11ee-a3fb-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "tesla-annual-reports/tsla-10k_20191231-gen_0.pdf", "page": 55, "chroma:document": "Selling,\tgeneral\tand\tadministrative\t(\u201cSG&A\u201d)\texpenses\tgenerally\tconsist\tof\tpersonnel\tand\tfacilities\tcosts\trelated\tto\tour\tstores,\tmarketing,\tsales,\nexecutive,\tfinance,\thuman\tresources,\tinformation\ttechnology\tand\tlegal\torganizations,\tas\twell\tas\tfees\tfor\tprofessional\tand\tcontract\tservices\tand\tlitigation\nsettlements.\nSG&A\texpenses\tas\ta\tpercentage\tof\trevenue\tdecreased\tfrom\t13%\tto\t11%\tin\tyear\tended\tDecember\t31,\t2019\tas\tcompared\tto\tthe\tyear\tended\nDecember\t31,\t2018.\tThe\tdecrease\twas\tprimarily\tfrom\tan\tincrease\tin\toverall\trevenues\tfrom\tour\texpanding\tsales,\tas\twell\tas\tfrom\tour\tfocus\ton\tincreasing\noperational\tefficiency\tand\tprocess\tautomation,\tour\tefforts\tto\tscale\tdown\tand\toptimize\tour\tcost\tstructure\trelative\tto\tthe\tsize\tof\tour\tbusiness.\nSG&A\texpenses\tdecreased\t$189\tmillion,\tor\t7%,\tin\tthe\tyear\tended\tDecember\t31,\t2019\tas\tcompared\tto\tthe\tyear\tended\tDecember\t31,\t2018.\tThe\ndecrease\twas\tprimarily\tdue\tto\ta\t$302\tmillion\tdecrease\tin\temployee\tand\tlabor\trelated\texpenses\tfrom\tdecreased\theadcount\tand\tcost\tefficiency\tinitiatives,\npartially\toffset\tby\ta\t$112\tmillion\tincrease\tin\tstock-based\tcompensation\texpense.\tThe\tincrease\tin\tstock-based\tcompensation\texpense\twas\tprimarily\nrelated\tto\tthe\t2018\tCEO\tPerformance\tAward\tas\twe\trecorded\ta\t$72\tmillion\tcumulative\tcatch-up\texpense\tfor\tthe\tservice\tprovided\tfrom\tthe\tgrant\tdate\nwhen\tan\tadditional\toperational\tmilestone\twas\tconsidered\tprobable\tof\tbeing\tmet\tin\tthe\tfourth\tquarter\tof\t2019.\tAdditionally,\tthe\texpense\tperiod\twas\nshorter\tin\tthe\tprior\tyear\tas\tit\tcommenced\tupon\tthe\tgrant\tapproval\tdate\tof\tMarch\t21,\t2018.\n53"}


created_at: 2024-04-06 13:59:07
topic: persistent://default/default/19a10f6c-edf5-4774-8347-509021fad678
id: c5d61dc6-f41d-11ee-a3fb-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "tesla-annual-reports/tsla-10k_20191231-gen_0.pdf", "page": 56, "chroma:document": "Restructuring\tand\tother\n\t\n\t\n\t\nYear\tEnded\tDecember\t31,\n\t\n\t\n2019\tvs.\t2018\tChange\n\t\n\t\n2018\tvs.\t2017\tChange\n(Dollars\tin\tmillions)\n\t\n2019\n\t\n\t\n2018\n\t\n\t\n2017\n\t\n\t\n$\n\t\n\t\n%\n\t\n\t\n$\n\t\n\t\n%\nRestructuring\tand\tother\n\t\n$\n149\n\t\n\t\n$\n135\n\t\n\t\n$\n\u2014\n\t\n\t\n$\n14\n\t\n\t\n10%\n\t\n\t\n$\n135\n\t\n\t\nN/A\nAs\ta\tpercentage\tof\trevenues\n\t\n\t\n1\n%\n\t\n\t\n1\n%\n\t\n\t\n0\n%\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\nDuring\tthe\tyear\tended\tDecember\t31,\t2019,\twe\tcarried\tout\tcertain\trestructuring\tactions\tin\torder\tto\treduce\tcosts\tand\timprove\tefficiency.\tAs\ta\nresult,\twe\trecognized\t$\n50\n\tmillion\tof\tcosts\tprimarily\trelated\tto\temployee\ttermination\texpenses\tand\tlosses\tfrom\tclosing\tcertain\tstores\timpacting\tboth\nsegments.\tWe\trecognized\t$\n47\n\tmillion\tin\timpairment\trelated\tto\tthe\tIPR&D\tintangible\tasset\tas\twe\tabandoned\tfurther\tdevelopment\tefforts\t(refer\tto\tNote\n4,\t\nGoodwill\tand\tIntangible\tAssets\n\tfor\tdetails)\tand\t$\n15\n\tmillion\tfor\tthe\trelated\tequipment\twithin\tthe\tenergy\tgeneration\tand\tstorage\tsegment.\tWe\talso\nincurred\ta\tloss\tof\t$\n37\n\tmillion\tfor\tclosing\toperations\tin\tcertain\tfacilities.\tOn\tthe\tstatement\tof\tcash\tflows,\tthe\tamounts\twere\tpresented\tin\tthe\tcaptions\tin\nwhich\tsuch\tamounts\twould\thave\tbeen\trecorded\tabsent\tthe\timpairment\tcharges.\tThe\temployee\ttermination\texpenses\twere\tsubstantially\tpaid\tby"}


created_at: 2024-04-06 13:59:07
topic: persistent://default/default/19a10f6c-edf5-4774-8347-509021fad678
id: c5d61e20-f41d-11ee-a3fb-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "tesla-annual-reports/tsla-10k_20191231-gen_0.pdf", "page": 56, "chroma:document": "December\t31,\t2019,\twhile\tthe\tremaining\tamounts\twere\tnon-cash.\nDuring\tthe\tyear\tended\tDecember\t31,\t2018,\twe\tcarried-out\tcertain\trestructuring\tactions\tin\torder\tto\treduce\tcosts\tand\timprove\tefficiency\tand\nrecognized\t$\n37\n\tmillion\tof\temployee\ttermination\texpenses\tand\testimated\tlosses\tfrom\tsub-leasing\ta\tcertain\tfacility.\tThe\temployee\ttermination\tcash\texpenses\nof\t$\n27\n\tmillion\twere\tsubstantially\tpaid\tby\tthe\tend\tof\t2018,\twhile\tthe\tremaining\tamounts\twere\tnon-cash.\tAlso\tincluded\twithin\trestructuring\tand\tother\nactivities\twas\t$\n55\n\tmillion\tof\texpenses\t(materially\tall\tof\twhich\twere\tnon-cash)\tfrom\trestructuring\tthe\tenergy\tgeneration\tand\tstorage\tsegment,\twhich\ncomprised\tof\tdisposals\tof\tcertain\ttangible\tassets,\tthe\tshortening\tof\tthe\tuseful\tlife\tof\ta\ttrade\tname\tintangible\tasset\tand\ta\tcontract\ttermination\tpenalty.\tIn\naddition,\twe\tconcluded\tthat\ta\tsmall\tportion\tof\tthe\tIPR&D\tasset\tis\tnot\tcommercially\tfeasible.\tConsequently,\twe\trecognized\tan\timpairment\tloss\tof\n$\n13\n\tmillion.\t\nWe\trecognized\tsettlement\tand\tlegal\texpenses\tof\t$\n30\n\tmillion\tin\tthe\tyear\tended\tDecember\t31,\t2018\tfor\tthe\tsettlement\twith\tthe\tSEC\trelating\tto\ta\ntake-private\tproposal\tfor\tTesla.\t\nThese\texpenses\twere\tsubstantially\tpaid\tby\tthe\tend\tof\t2018\n.\nInterest\tExpense\n\t\n\t\n\t\nYear\tEnded\tDecember\t31,\n\t\n\t\n2019\tvs.\t2018\tChange\n\t\n\t\n2018\tvs.\t2017\tChange\n\t\n(Dollars\tin\tmillions)\n\t\n2019\n\t\n\t\n2018\n\t\n\t\n2017\n\t\n\t\n$\n\t\n\t\n%\n\t\n\t\n$\n\t\n\t\n%\n\t\nInterest\texpense\n\t\n$\n685\n\t\n\t\n$\n663\n\t\n\t\n$\n471"}


created_at: 2024-04-06 13:59:07
topic: persistent://default/default/19a10f6c-edf5-4774-8347-509021fad678
id: c5d61e7a-f41d-11ee-a3fb-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "tesla-annual-reports/tsla-10k_20191231-gen_0.pdf", "page": 56, "chroma:document": "$\n663\n\t\n\t\n$\n471\n\t\n\t\n$\n22\n\t\n\t\n\t\n3\n%\n\t\n$\n192\n\t\n\t\n\t\n41\n%\nAs\ta\tpercentage\tof\trevenues\n\t\n\t\n3\n%\n\t\n\t\n3\n%\n\t\n\t\n4\n%\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\nInterest\texpense\tincreased\tby\t$22\tmillion,\tor\t3%,\tin\tthe\tyear\tended\tDecember\t31,\t2019\tas\tcompared\tto\tthe\tyear\tended\tDecember\t31,\t2018.\tThe\nincrease\twas\tprimarily\tdue\tto\tan\tincrease\tin\tour\taverage\toutstanding\tindebtedness\tat\trelatively\tconsistent\tweighted\taverage\tinterest\trates\tas\tcompared\nto\tthe\tyear\tended\tDecember\t31,\t2018.\nOther\tIncome\t(Expense),\tNet\n\t\n\t\n\t\nYear\tEnded\tDecember\t31,\n\t\n\t\n2019\tvs.\t2018\tChange\n\t\n\t\n2018\tvs.\t2017\tChange\n(Dollars\tin\tmillions)\n\t\n2019\n\t\n\t\n2018\n\t\n\t\n2017\n\t\n\t\n$\n\t\n\t\n%\n\t\n\t\n$\n\t\n\t\n%\nOther\tincome\t(expense),\tnet\n\t\n$\n45\n\t\n\t\n$\n22\n\t\n\t\n$\n(125\n)\n\t\n$\n23\n\t\n\t\n105%\n\t\n\t\n$\n147\n\t\n\t\nNot\nmeaningful\nAs\ta\tpercentage\tof\trevenues\n\t\n\t\n0\n%\n\t\n\t\n0\n%\n\t\n\t\n-1\n%\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\nOther\tincome\t(expense),\tnet,\tconsists\tprimarily\tof\tforeign\texchange\tgains\tand\tlosses\trelated\tto\tour\tforeign\tcurrency-denominated\tmonetary"}


created_at: 2024-04-06 13:59:07
topic: persistent://default/default/19a10f6c-edf5-4774-8347-509021fad678
id: c5d61ed4-f41d-11ee-a3fb-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "tesla-annual-reports/tsla-10k_20191231-gen_0.pdf", "page": 56, "chroma:document": "assets\tand\tliabilities\tand\tchanges\tin\tthe\tfair\tvalues\tof\tour\tfixed-for-floating\tinterest\trate\tswaps.\tWe\texpect\tour\tforeign\texchange\tgains\tand\tlosses\twill\nvary\tdepending\tupon\tmovements\tin\tthe\tunderlying\texchange\trates.\n54"}


created_at: 2024-04-06 13:59:07
topic: persistent://default/default/19a10f6c-edf5-4774-8347-509021fad678
id: c5d61f60-f41d-11ee-a3fb-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "tesla-annual-reports/tsla-10k_20191231-gen_0.pdf", "page": 57, "chroma:document": "Other\tincome\t(expense),\tnet,\t\nincreased\n\t\nby\t\n$23\n\tmillion\n,\tor\t105%,\n\tin\tthe\tyear\tended\t\nDecember\t31,\t2019\n\tas\tcompared\tto\n\tthe\tyear\tended\nDecember\t31,\t2018\n.\tThe\tchange\twas\tprimarily\tdue\tto\tfavorable\tfluctuations\tin\tforeign\tcurrency\texchange\trates\n,\toffset\tby\tlosses\t\nfrom\tinterest\trate\nswaps\trelated\tto\tour\tdebt\tfacilities\tyear-over-year.\nProvision\tfor\tIncome\tTaxes\n\t\n\t\n\t\nYear\tEnded\tDecember\t31,\n\t\n\t\n2019\tvs.\t2018\tChange\n\t\n\t\n2018\tvs.\t2017\tChange\n\t\n(Dollars\tin\tmillions)\n\t\n2019\n\t\n\t\n2018\n\t\n\t\n2017\n\t\n\t\n$\n\t\n\t\n%\n\t\n\t\n$\n\t\n\t\n%\n\t\nProvision\tfor\tincome\ttaxes\n\t\n$\n110\n\t\n\t\n$\n58\n\t\n\t\n$\n32\n\t\n\t\n$\n52\n\t\n\t\n\t\n90\n%\n\t\n$\n26\n\t\n\t\n\t\n81\n%\nEffective\ttax\trate\n\t\n\t\n-17\n%\n\t\n\t\n-6\n%\n\t\n\t\n-1\n%\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\nOur\tprovision\tfor\tincome\ttaxes\tincreased\tby\t$52\tmillion,\tor\t90%,\tin\tthe\tyear\tended\tDecember\t31,\t2019\tas\tcompared\tto\tthe\tyear\tended\nDecember\t31,\t2018,\tprimarily\tdue\tto\tthe\tincrease\tin\ttaxable\tprofits\tin\tcertain\tforeign\tjurisdictions\tyear-over-year.\nNet\tIncome\t(Loss)\tAttributable\tto\tNoncontrolling\tInterests\tand\tRedeemable\tNoncontrolling\tInterests\n\t\n\t\n\t\nYear\tEnded\tDecember\t31,"}


created_at: 2024-04-06 13:59:07
topic: persistent://default/default/19a10f6c-edf5-4774-8347-509021fad678
id: c5d61fb0-f41d-11ee-a3fb-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "tesla-annual-reports/tsla-10k_20191231-gen_0.pdf", "page": 57, "chroma:document": "Year\tEnded\tDecember\t31,\n\t\n\t\n2019\tvs.\t2018\tChange\n\t\n2018\tvs.\t2017\tChange\n\t\n(Dollars\tin\tmillions)\n\t\n2019\n\t\n\t\n2018\n\t\n\t\n2017\n\t\n\t\n$\n\t\n\t\n%\n\t\n$\n\t\n\t\n%\n\t\nNet\tincome\t(loss)\tattributable\n\t\t\tto\tnoncontrolling\tinterests\n\t\t\tand\tredeemable\n\t\t\tnoncontrolling\tinterests\n\t\t\tin\tsubsidiaries\n\t\n$\n87\n\t\n\t\n$\n(87\n)\n\t\n$\n(279\n)\n\t\n$\n174\n\t\n\t\nNot\nmeaningful\n\t\n$\n192\n\t\n\t\n\t\n-69\n%\n\t\nOur\tnet\tincome\t(loss)\tattributable\tto\tnoncontrolling\tinterests\tand\tredeemable\tnoncontrolling\tinterests\twas\trelated\tto\tfinancing\tfund\narrangements.\nNet\tincome\t(loss)\tattributable\tto\tnoncontrolling\tinterests\tand\tredeemable\tnoncontrolling\tinterests\t\nchanged\tunfavorably\tby\t$174\tmillion\tin\tthe\nyear\tended\tDecember\t31,\t2019\tas\tcompared\tto\tthe\tyear\tended\tDecember\t31,\t2018.\tThe\tchange\twas\tprimarily\n\tdue\tto\tlower\tactivities\tin\tour\tfinancing\nfund\tarrangements.\nLiquidity\tand\tCapital\tResources\nAs\tof\tDecember\t31,\t2019,\twe\thad\t$6.27\tbillion\tof\tcash\tand\tcash\tequivalents.\tBalances\theld\tin\tforeign\tcurrencies\thad\ta\tU.S.\tdollar\tequivalent\tof\n$1.26\tbillion\tand\tconsisted\tprimarily\tof\tChinese\tyuan,\teuros\tand\tCanadian\tdollars.\tOur\tsources\tof\tcash\tare\tpredominantly\tfrom\tour\tdeliveries\tof\nvehicles,\tsales\tand\tinstallations\tof\tour\tenergy\tstorage\tproducts\tand\tsolar\tenergy\tsystems,\tproceeds\tfrom\tdebt\tfacilities,\tproceeds\tfrom\tfinancing\tfunds"}


created_at: 2024-04-06 13:59:07
topic: persistent://default/default/19a10f6c-edf5-4774-8347-509021fad678
id: c5d62028-f41d-11ee-a3fb-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "tesla-annual-reports/tsla-10k_20191231-gen_0.pdf", "page": 57, "chroma:document": "and\tproceeds\tfrom\tequity\tofferings.\nOur\tsources\tof\tliquidity\tand\tcash\tflows\tenable\tus\tto\tfund\tongoing\toperations,\tresearch\tand\tdevelopment\tprojects\tfor\tnew\tproducts,\nestablishment\tand/or\tincreases\tof\tModel\t3\tand\tModel\tY\tproduction\tcapacity\tat\tthe\tFremont\tFactory\tand\tat\tGigafactory\tShanghai,\tthe\tcontinued\nexpansion\tof\tGigafactory\tNevada,\tthe\tconstruction\tof\tGigafactory\tBerlin,\tthe\tmanufacturing\tramp\tof\tthe\tSolar\tRoof\tat\tGigafactory\tNew\tYork,\tand\tthe\ncontinued\texpansion\tof\tour\tretail\tand\tservice\tlocations,\tbody\tshops,\tMobile\tService\tfleet\tand\tSupercharger\tnetwork.\nAs\tdiscussed\tin\tand\tsubject\tto\tthe\tconsiderations\treferenced\tin\tPart\tII,\tItem\t7,\t\nManagement's\tDiscussion\tand\tAnalysis\tof\tFinancial\tCondition\nand\tResults\tof\tOperations\u2014Management\tOpportunities,\tChallenges\tand\tRisks\tand\t2020\tOutlook\u2014Trends\tin\tCash\tFlow,\tCapital\tExpenditures\tand\nOperating\tExpenses\n\tin\tthis\tAnnual\tReport\ton\tForm\t10-K,\tconsidering\tthe\texpected\tpace\tof\tthe\tmanufacturing\tramps\tfor\tour\tproducts,\tconstruction\tand\nexpansion\tof\tour\tfactories,\tand\tpipeline\tof\tprojects\tunder\tdevelopment,\tand\tconsistent\twith\tour\tcurrent\tstrategy\tof\tusing\ta\tpartner\tto\tmanufacture\nbattery\tcells,\tas\twell\tas\tconsidering\tall\tother\tinfrastructure\tgrowth,\twe\tcurrently\texpect\tour\taverage\tannual\tcapital\texpenditures\tin\t2020\tand\tthe\ttwo\nsucceeding\tfiscal\tyears\tto\tbe\t$2.5\tbillion\tto\t$3.5\tbillion.\n55"}


created_at: 2024-04-06 13:59:07
topic: persistent://default/default/19a10f6c-edf5-4774-8347-509021fad678
id: c5d6208c-f41d-11ee-a3fb-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "tesla-annual-reports/tsla-10k_20191231-gen_0.pdf", "page": 58, "chroma:document": "We\texpect\tthat\tthe\tcash\twe\tgenerate\tfrom\tour\tcore\toperations\twill\tgenerally\tbe\tsufficient\tto\tcover\tour\tfuture\tcapital\texpenditures\tand\tto\tpay\ndown\tour\tnear-term\tdebt\tobligations,\talthough\twe\tmay\tchoose\tto\tseek\talternative\tfinancing\tsources.\tFor\texample,\twe\texpect\tthat\tmuch\tof\tour\ninvestment\tin\tGigafactory\tShanghai\twill\tcontinue\tto\tbe\tfunded\tthrough\tindebtedness\tarranged\tthrough\tlocal\tfinancial\tinstitutions\tin\tChina,\tsuch\tas\tthe\nRMB\t9.0\tbillion\t(or\tthe\tequivalent\tamount\tin\tU.S.\tdollars)\tfixed\tasset\tterm\tfacility\tand\tRMB\t2.25\tbillion\t(or\tthe\tequivalent\tamount\tin\tU.S.\tdollars)\nworking\tcapital\trevolving\tfacility\tthat\tour\tlocal\tsubsidiary\tentered\tinto\tin\tDecember\t2019,\tand\twe\texpect\tthe\tsame\twith\trespect\tto\tGigafactory\tBerlin\n.\nAs\talways,\twe\tcontinually\tevaluate\tour\tcapital\texpenditure\tneeds\tand\tmay\tdecide\tit\tis\tbest\tto\traise\tadditional\tcapital\tto\tfund\tthe\trapid\tgrowth\tof\tour\nbusiness\n,\tto\tfurther\tstrengthen\tour\tbalance\tsheet,\tor\tfor\tgeneral\tcorporate\tpurposes\n.\nWe\thave\tan\tagreement\tto\tspend\tor\tincur\t$5.0\tbillion\tin\tcombined\tcapital,\toperational\texpenses,\tcosts\tof\tgoods\tsold\tand\tother\tcosts\tin\tthe\tState\nof\tNew\tYork\tduring\tthe\t10-year\tperiod\tfollowing\tfull\tproduction\tat\tGigafactory\tNew\tYork.\tWe\tanticipate\tmeeting\tthese\tobligations\tthrough\tour\noperations\tat\tthis\tfacility\tand\tother\toperations\twithin\tthe\tState\tof\tNew\tYork,\tand\twe\tdo\tnot\tbelieve\tthat\twe\tface\ta\tsignificant\trisk\tof\tdefault.\nWe\texpect\tthat\tour\tcurrent\tsources\tof\tliquidity\ttogether\twith\tour\tprojection\tof\tcash\tflows\tfrom\toperating\tactivities\twill\tprovide\tus\n\twith\tadequate"}


created_at: 2024-04-06 13:59:07
topic: persistent://default/default/19a10f6c-edf5-4774-8347-509021fad678
id: c5d620e6-f41d-11ee-a3fb-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "tesla-annual-reports/tsla-10k_20191231-gen_0.pdf", "page": 58, "chroma:document": "with\tadequate\nliquidity\tover\tat\tleast\tthe\tnext\t12\tmonths.\tA\tlarge\tportion\tof\tour\tfuture\texpenditures\tis\tto\tfund\tour\tgrowth,\tand\twe\tcan\tadjust\tour\tcapital\tand\toperating\nexpenditures\tby\toperating\tsegment,\tincluding\tfuture\texpansion\tof\tour\tproduct\tofferings,\tretail\tand\tservice\tlocations,\tbody\tshops,\tMobile\tService\tfleet,\nand\tSupercharger\tnetwork.\t\nWe\tmay\tneed\tor\twant\tto\traise\tadditional\tfunds\tin\tthe\tfuture,\tand\tthese\tfunds\tmay\tnot\tbe\tavailable\tto\tus\twhen\twe\tneed\tor\nwant\tthem,\tor\tat\tall.\tIf\twe\tcannot\traise\tadditional\tfunds\twhen\twe\tneed\tor\twant\tthem,\tour\toperations\tand\tprospects\tcould\tbe\tnegatively\taffected.\nIn\taddition,\twe\thad\t$3.03\tbillion\tof\tunused\tcommitted\tamounts\tunder\tour\tcredit\tfacilities\tand\tfinancing\tfunds\tas\tof\tDecember\t31,\t2019,\tsome\tof\nwhich\tare\tsubject\tto\tsatisfying\tspecified\tconditions\tprior\tto\tdraw-down\t(such\tas\tpledging\tto\tour\tlenders\tsufficient\tamounts\tof\tqualified\treceivables,\ninventories,\tleased\tvehicles\tand\tour\tinterests\tin\tthose\tleases,\tsolar\tenergy\tsystems\tand\tthe\tassociated\tcustomer\tcontracts,\tour\tinterests\tin\tfinancing\nfunds\tor\tvarious\tother\tassets;\tand\tcontributing\tor\tselling\tqualified\tsolar\tenergy\tsystems\tand\tthe\tassociated\tcustomer\tcontracts\tor\tqualified\tleased\nvehicles\tand\tour\tinterests\tin\tthose\tleases\tinto\tthe\tfinancing\tfunds).\tUpon\tthe\tdraw-down\tof\tany\tunused\tcommitted\tamounts,\tthere\tare\tno\trestrictions\ton\nuse\tof\tavailable\tfunds\tfor\tgeneral\tcorporate\tpurposes.\tFor\tdetails\tregarding\tour\tindebtedness\tand\tfinancing\tfunds,\trefer\tto\tNote\t12,\t\nDebt\n,\tand\tNote\t17,\nVariable\tInterest\tEntity\tArrangements"}


created_at: 2024-04-06 13:59:07
topic: persistent://default/default/19a10f6c-edf5-4774-8347-509021fad678
id: c5d62140-f41d-11ee-a3fb-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "tesla-annual-reports/tsla-10k_20191231-gen_0.pdf", "page": 58, "chroma:document": "Variable\tInterest\tEntity\tArrangements\n,\tto\tthe\tconsolidated\tfinancial\tstatements\tincluded\telsewhere\tin\tthis\tAnnual\tReport\ton\tForm\t10-K.\nSummary\tof\tCash\tFlows\n\t\n\t\n\t\nYear\tEnded\tDecember\t31,\n\t\n(Dollars\tin\tmillions)\n\t\n2019\n\t\n\t\n2018\n\t\n\t\n2017\n\t\nNet\tcash\tprovided\tby\t(used\tin)\toperating\tactivities\n\t\n$\n2,405\n\t\n\t\n$\n2,098\n\t\n\t\n$\n(61\n)\nNet\tcash\tused\tin\tinvesting\tactivities\n\t\n$\n(1,436\n)\n\t\n$\n(2,337\n)\n\t\n$\n(4,196\n)\nNet\tcash\tprovided\tby\tfinancing\tactivities\n\t\n$\n1,529\n\t\n\t\n$\n574\n\t\n\t\n$\n4,415\n\t\nCash\tFlows\tfrom\tOperating\tActivities\nOur\tcash\tflows\tfrom\toperating\tactivities\tare\tsignificantly\taffected\tby\tour\tcash\tinvestments\tto\tsupport\tthe\tgrowth\tof\tour\tbusiness\tin\tareas\tsuch\nas\tresearch\tand\tdevelopment\tand\tselling,\tgeneral\tand\tadministrative\tand\tworking\tcapital,\tespecially\tinventory,\twhich\tincludes\tvehicles\tin\ttransit.\tOur\noperating\tcash\tinflows\tinclude\tcash\tfrom\tvehicle\tsales,\tcustomer\tlease\tpayments,\tcustomer\tdeposits,\tcash\tfrom\tsales\tof\tregulatory\tcredits\tand\tenergy\ngeneration\tand\tstorage\tproducts.\tThese\tcash\tinflows\tare\toffset\tby\tour\tpayments\tto\tsuppliers\tfor\tproduction\tmaterials\tand\tparts\tused\tin\tour\nmanufacturing\tprocess,\toperating\texpenses,\toperating\tlease\tpayments\tand\tinterest\tpayments\ton\tour\tfinancings.\n56"}


created_at: 2024-04-06 13:59:07
topic: persistent://default/default/19a10f6c-edf5-4774-8347-509021fad678
id: c5d62ae6-f41d-11ee-a3fb-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "tesla-annual-reports/tsla-10k_20191231-gen_0.pdf", "page": 59, "chroma:document": "Net\tcash\t\nprovided\tby\t\noperating\tactivities\t\nincreased\t\nby\t\n$307\n\t\nmillion\n\tto\t\n$\n2.41\n\t\nbillion\tduring\tthe\tyear\tended\t\nDecember\t31,\t2019\n\tfrom\t$2.10\tbillion\nduring\tthe\tyear\tended\tDecember\t31,\t2018.\tThis\tfavorable\tchange\twas\tprimarily\tdue\tto\tthe\tincrease\tin\tnet\tincome,\texcluding\tnon-cash\texpenses\tand\ngains,\tof\t$\n902\tmillion,\n\t\npartially\toffset\tby\tthe\tincrease\tin\tnet\toperating\tassets\tand\tliabilities\tof\t$407\tmillion\tand\t$188\tmillion\tof\tthe\trepayment\tof\tour\n0.25%\tConvertible\tSenior\tNotes\tdue\tin\t2019\twhich\twas\tclassified\tas\tan\toperating\tactivity,\tas\tthis\trepresented\tan\tinterest\tpayment\ton\tthe\tdiscounted\nconvertible\tnotes.\tThe\tincrease\tin\tnet\toperating\tassets\tand\tliabilities\twas\tmainly\tdriven\tby\ta\tsmaller\tincrease\tin\taccounts\tpayable\tand\taccrued\tliabilities\nin\t2019\tas\tcompared\tto\t2018,\tas\twe\twere\tramping\tfor\tModel\t3\tproduction\tin\t2018\tand\ta\tlarger\tincrease\tin\toperating\tlease\tvehicles\tin\t2019\tas\ncompared\tto\t2018\tas\twe\tbegan\toffering\tModel\t3\tleasing\tin\t2019.\tThe\tincrease\tin\tnet\toperating\tassets\tand\tliabilities\twas\tpartially\toffset\tby\ta\tsmaller\nincrease\tin\tinventory\tand\ta\tlarger\tincrease\tin\tdeferred\trevenue\tin\t2019\tas\tcompared\tto\t2018.\nCash\tFlows\tfrom\tInvesting\tActivities\nCash\tflows\tfrom\tinvesting\tactivities\tand\ttheir\tvariability\tacross\teach\tperiod\trelated\tprimarily\tto\tcapital\texpenditures,\n\twhich\twere\t$1.33\tbillion\nduring\t2019,\tmainly\tfor\tGigafactory\tShanghai\tconstruction,\tModel\t3\tproduction,\tand\tModel\tY\tpreparations,\tand\t$2.10\tbillion\tduring\t2018,\tmainly\tfor\nModel\t3\tproduction."}


created_at: 2024-04-06 13:59:07
topic: persistent://default/default/19a10f6c-edf5-4774-8347-509021fad678
id: c5d62b54-f41d-11ee-a3fb-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "tesla-annual-reports/tsla-10k_20191231-gen_0.pdf", "page": 59, "chroma:document": "Model\t3\tproduction.\t\nDesign,\tacquisition\tand\tinstallation\tof\tsolar\tenergy\tsystems\tamounted\tto\t$105\tmillion\tand\t$218\tmillion\tfor\tthe\tyears\tended\nDecember\t31,\t2019\tand\t2018,\trespectively.\n\t\t\nCash\tFlows\tfrom\tFinancing\tActivities\nCash\tflows\tfrom\tfinancing\tactivities\tduring\tthe\tyear\tended\tDecember\t31,\t2019\tconsisted\tprimarily\tof\t\n$1.82\tbillion\tfrom\tthe\tissuance\tof\tthe\n2.00%\tConvertible\tSenior\tNotes\tdue\tin\t2024\t(\u201c\n2024\tNotes\u201d),\tnet\tof\ttransaction\tcosts,\tand\t$848\tmillion\tfrom\tthe\tissuance\tof\tcommon\tstock,\tnet\tof\nunderwriting\tdiscounts,\tin\tregistered\tpublic\tofferings,\t$736\tmillion\tof\tnet\tborrowings\tunder\tloan\tagreements\tentered\tinto\tby\tcertain\tChinese\nsubsidiaries,\t$394\tmillion\tof\tnet\tborrowings\tfor\tautomotive\tasset-backed\tnotes,\tand\t$174\tmillion\tfrom\tthe\tissuance\tof\twarrants\tin\tconnection\twith\tthe\noffering\tof\tthe\t2024\tNotes.\tThese\tcash\tinflows\twere\tpartially\toffset\tby\ta\t$732\tmillion\tportion\tof\tthe\trepayment\tof\tour\t0.25%\tConvertible\tSenior\tNotes\ndue\tin\t2019\tthat\twas\tclassified\tas\tfinancing\tactivity,\ta\t$566\tmillion\trepayment\tof\tour\t1.625%\tConvertible\tSenior\tNotes\tdue\tin\t2019,\ta\tpurchase\tof\nconvertible\tnote\thedges\tof\t$476\tmillion\tin\tconnection\twith\tthe\toffering\tof\tthe\t2024\tNotes,\tand\t\ncollateralized\tlease\trepayments\tof\t$389\tmillion\n.\n\tSee\tNote\n12,\t\nDebt\n,\tand\tNote\t2,\t\nSummary\tof\tSignificant\tAccounting\tPolicies\n,\tto\tthe\tconsolidated\tfinancial\tstatements\tincluded\telsewhere\tin\tthis\tAnnual\tReport\ton\nForm\t10-K\tfor\tfurther\tdetails\tregarding\tour\tdebt\tobligations\tand\tcollateralized\tborrowings,\trespectively."}


created_at: 2024-04-06 13:59:07
topic: persistent://default/default/19a10f6c-edf5-4774-8347-509021fad678
id: c5d62bae-f41d-11ee-a3fb-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "tesla-annual-reports/tsla-10k_20191231-gen_0.pdf", "page": 59, "chroma:document": "Cash\tflows\tfrom\tfinancing\tactivities\tduring\tthe\tyear\tended\tDecember\t31,\t2018\tconsisted\tprimarily\tof\t$1.18\tbillion\tof\tnet\tborrowings\tunder\nautomobile\tasset-backed\tnotes,\t$431\tmillion\tof\tnet\tborrowings\tunder\tthe\tsenior\tsecured\tasset-based\trevolving\tcredit\tagreement\t(the\t\u201cCredit\nAgreement\u201d),\t$334\tmillion\tfrom\tthe\tissuance\tof\tsolar\tasset-backed\tnotes\tand\t$296\tmillion\tof\tproceeds\tfrom\texercises\tof\tstock\toptions\tand\tother\tstock\nissuances.\tThese\tcash\tinflows\twere\tpartially\toffset\tby\tnet\trepayments\tof\t$582\tmillion\tunder\tour\tvehicle\tlease-backed\tloan\tand\tsecurity\tagreements\t(the\n\u201cWarehouse\tAgreements\u201d),\tcollateralized\tlease\trepayments\tof\t$559\tmillion,\trepayments\tof\t$230\tmillion\tof\tthe\t2.75%\tConvertible\tSenior\tNotes\tdue\ton\nNovember\t1,\t2018,\tand\trepayments\tof\t$210\tmillion\tunder\tthe\trevolving\taggregation\tcredit\tfacility.\n57"}


created_at: 2024-04-06 13:59:07
topic: persistent://default/default/19a10f6c-edf5-4774-8347-509021fad678
id: c5d62c08-f41d-11ee-a3fb-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "tesla-annual-reports/tsla-10k_20191231-gen_0.pdf", "page": 60, "chroma:document": "Contractual\tObligations\nWe\tare\tparty\tto\tcontractual\tobligations\tinvolving\tcommitments\tto\tmake\tpayments\tto\tthird\tparties,\tincluding\tcertain\tdebt\tfinancing\narrangements\tand\tleases,\tprimarily\tfor\tstores,\tservice\tcenters,\tcertain\tmanufacturing\tand\tcorporate\toffices.\tThese\talso\tinclude,\tas\tpart\tof\tour\tnormal\nbusiness\tpractices,\tcontracts\twith\tsuppliers\tfor\tpurchases\tof\tcertain\traw\tmaterials,\tcomponents\tand\tservices\tto\tfacilitate\tadequate\tsupply\tof\tthese\nmaterials\tand\tservices\tand\tcapacity\treservation\tcontracts.\tThe\tfollowing\ttable\tsets\tforth,\tas\tof\tDecember\t31,\t2019,\tcertain\tsignificant\tobligations\tthat\nwill\taffect\tour\tfuture\tliquidity\t(in\tmillions):\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\nYear\tEnded\tDecember\t31,\n\t\n\t\n\t\n\t\n\t\n\t\n\t\nTotal\n\t\n\t\n2020\n\t\n\t\n2021\n\t\n\t\n2022\n\t\n\t\n2023\n\t\n\t\n2024\n\t\n\t\nThereafter\n\t\nOperating\tlease\tobligations,\n\t\t\tincluding\timputed\tinterest\n\t\n$\n1,459\n\t\n\t\n$\n296\n\t\n\t\n$\n262\n\t\n\t\n$\n210\n\t\n\t\n$\n173\n\t\n\t\n$\n146\n\t\n\t\n$\n372\n\t\nFinance\tlease\tobligations,\n\t\t\tincluding\timputed\tinterest\n\t\n\t\n1,795\n\t\n\t\n\t\n474\n\t\n\t\n\t\n478\n\t\n\t\n\t\n600\n\t\n\t\n\t\n225\n\t\n\t\n\t\n5\n\t\n\t\n\t\n13\n\t\nPurchase\tobligations\t(1)\n\t\n\t\n16,292\n\t\n\t\n\t\n5,729\n\t\n\t\n\t\n2,946\n\t\n\t\n\t\n3,645\n\t\n\t\n\t\n3,948\n\t\n\t\n\t\n24\n\t\n\t\n\t\n\u2014\n\t\nDebt,\tincluding\tscheduled"}


created_at: 2024-04-06 13:59:07
topic: persistent://default/default/19a10f6c-edf5-4774-8347-509021fad678
id: c5d62c62-f41d-11ee-a3fb-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "tesla-annual-reports/tsla-10k_20191231-gen_0.pdf", "page": 60, "chroma:document": "\u2014\n\t\nDebt,\tincluding\tscheduled\n\t\t\tinterest\t(2)\n\t\n\t\n14,031\n\t\n\t\n\t\n1,774\n\t\n\t\n\t\n2,594\n\t\n\t\n\t\n2,287\n\t\n\t\n\t\n1,993\n\t\n\t\n\t\n2,575\n\t\n\t\n\t\n2,808\n\t\nTotal\n\t\n$\n33,577\n\t\n\t\n$\n8,273\n\t\n\t\n$\n6,280\n\t\n\t\n$\n6,742\n\t\n\t\n$\n6,339\n\t\n\t\n$\n2,750\n\t\n\t\n$\n3,193\n\t\n(1)\nThese\tamounts\trepresent\t(i)\tpurchase\torders\tof\t$2.50\tbillion\tissued\tunder\tbinding\tand\tenforceable\tagreements\twith\tall\tvendors\tas\tof\nDecember\t31,\t2019\tand\t(ii)\t$13.79\tbillion\tin\tother\testimable\tpurchase\tobligations\tpursuant\tto\tsuch\tagreements,\tprimarily\trelating\tto\tthe\npurchase\tof\tlithium-ion\tcells\tproduced\tby\tPanasonic\tat\tGigafactory\tNevada,\tincluding\tany\tadditional\tamounts\twe\tmay\thave\tto\tpay\tvendors\tif\twe\ndo\tnot\tmeet\tcertain\tminimum\tpurchase\tobligations.\tIn\tcases\twhere\tno\tpurchase\torders\twere\toutstanding\tunder\tbinding\tand\tenforceable\nagreements\tas\tof\tDecember\t31,\t2019,\twe\thave\tincluded\testimated\tamounts\tbased\ton\tour\tbest\testimates\tand\tassumptions\tor\tdiscussions\twith\nthe\trelevant\tvendors\tas\tof\tsuch\tdate\tor,\twhere\tapplicable,\ton\tamounts\tor\tassumptions\tincluded\tin\tsuch\tagreements\tfor\tpurposes\tof\tdiscussion\tor\nreference.\tIn\tcertain\tcases,\tsuch\testimated\tamounts\twere\tsubject\tto\tcontingent\tevents.\tFurthermore,\tthese\tamounts\tdo\tnot\tinclude\tfuture\npayments\tfor\tpurchase\tobligations\tthat\twere\trecorded\tin\taccounts\tpayable\tor\taccrued\tliabilities\tas\tof\tDecember\t31,\t2019."}


created_at: 2024-04-06 13:59:07
topic: persistent://default/default/19a10f6c-edf5-4774-8347-509021fad678
id: c5d62cbc-f41d-11ee-a3fb-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "tesla-annual-reports/tsla-10k_20191231-gen_0.pdf", "page": 60, "chroma:document": "(2)\nDebt,\tincluding\tscheduled\tinterest,\tincludes\tour\tnon-recourse\tindebtedness\tof\t$5.29\tbillion.\tNon-recourse\tdebt\trefers\tto\tdebt\tthat\tis\trecourse\tto\nonly\tassets\tof\tour\tsubsidiaries.\tShort-term\tscheduled\tinterest\tpayments\tand\tamortization\tof\tconvertible\tsenior\tnote\tconversion\tfeatures,\tdebt\ndiscounts\tand\tdeferred\tfinancing\tcosts\tfor\tthe\tyear\tended\tDecember\t31,\t2020\tis\t$375\tmillion.\tLong-term\tscheduled\tinterest\tpayments\tand\namortization\tof\tconvertible\tsenior\tnote\tconversion\tfeatures,\tdebt\tdiscounts\tand\tdeferred\tfinancing\tcosts\tfor\tthe\tyears\tthereafter\tis\t$1.86\tbillion.\nThe\ttable\tabove\texcludes\tunrecognized\ttax\tbenefits\tof\t$247\tmillion\tbecause\tif\trecognized,\tthey\twould\tbe\tan\tadjustment\tto\tour\tdeferred\ttax\nassets.\nWe\toffer\tresale\tvalue\tguarantees\tor\tsimilar\tbuyback\tterms\tto\tcertain\tcustomers\twho\tpurchase\tand\tfinance\ttheir\tvehicles\tthrough\tone\tof\tour\nspecified\tcommercial\tbanking\tpartners\tand\tcertain\tleasing\tpartners\t(refer\tto\t\nAutomotive\tSales\twith\tResale\tValue\tGuarantee\tor\ta\tBuyback\tOption\n\tin\nNote\t2,\t\nSignificant\tAccounting\tPolicies\n,\tto\tthe\tconsolidated\tfinancial\tstatements\tincluded\telsewhere\tin\tthis\tAnnual\tReport\ton\tForm\t10-K).\tThe\tmaximum\namount\twe\tcould\tbe\trequired\tto\tpay\tunder\tthese\tprograms,\tshould\tcustomers\texercise\ttheir\tresale\tvalue\tguarantees\tor\tbuyback\toptions,\twould\tbe\t$1.70\nbillion\tover\tthe\tnext\tfive\tyears,\tof\twhich\t$226\tmillion\tis\twithin\ta\t12-month\tperiod\tfrom\tDecember\t31,\t2019.\tWe\thave\tnot\tincluded\tthis\tin\tthe\ttable\tabove\nas\tit\tis\tunknown\thow\tmany\tcustomers\twill\texercise\ttheir\toptions.\tAdditionally,\twe\tplan\tto\tresell\tany\tvehicles\twhich\tare\treturned\tto\tus\tand\ttherefore,\tthe"}


created_at: 2024-04-06 13:59:07
topic: persistent://default/default/19a10f6c-edf5-4774-8347-509021fad678
id: c5d62d20-f41d-11ee-a3fb-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "tesla-annual-reports/tsla-10k_20191231-gen_0.pdf", "page": 60, "chroma:document": "actual\texposure\tto\tus\tis\tdeemed\tto\tbe\tlimited.\n58"}


created_at: 2024-04-06 13:59:07
topic: persistent://default/default/19a10f6c-edf5-4774-8347-509021fad678
id: c5d62d7a-f41d-11ee-a3fb-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "tesla-annual-reports/tsla-10k_20191231-gen_0.pdf", "page": 61, "chroma:document": "Off-Balance\tSheet\tArrangements\nDuring\tthe\tperiods\tpresented,\twe\tdid\tnot\thave\trelationships\twith\tunconsolidated\tentities\tor\tfinancial\tpartnerships,\tsuch\tas\tentities\toften\nreferred\tto\tas\tstructured\tfinance\tor\tspecial\tpurpose\tentities,\twhich\twere\testablished\tfor\tthe\tpurpose\tof\tfacilitating\toff-balance\tsheet\tarrangements\tor\nother\tcontractually\tnarrow\tor\tlimited\tpurposes.\nRecent\tAccounting\tPronouncements\nSee\tNote\t2,\t\nSummary\tof\tSignificant\tAccounting\tPolicies\n,\tto\tthe\tconsolidated\tfinancial\tstatements\tincluded\telsewhere\tin\tthis\tAnnual\tReport\ton\nForm\t10-K.\n\t\n\t\n59"}


created_at: 2024-04-06 13:59:07
topic: persistent://default/default/19a10f6c-edf5-4774-8347-509021fad678
id: c5d62dd4-f41d-11ee-a3fb-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "tesla-annual-reports/tsla-10k_20191231-gen_0.pdf", "page": 62, "chroma:document": "ITEM\t7A.\nQUANTITATIVE\tAND\tQUALITATIVE\tDISCLOSURES\tABOUT\tMARKET\tRISK\nForeign\tCurrency\tRisk\nWe\ttransact\tbusiness\tglobally\tin\tmultiple\tcurrencies\tand\thence\thave\tforeign\tcurrency\trisks\trelated\tto\tour\trevenue,\tcosts\tof\trevenue\tand\noperating\texpenses\tdenominated\tin\tcurrencies\tother\tthan\tthe\tU.S.\tdollar\t(primarily\tthe\teuro,\tJapanese\tyen,\tCanadian\tdollar,\tChinese\tyuan\tand\nNorwegian\tkrone).\tIn\tgeneral,\twe\tare\ta\tnet\treceiver\tof\tcurrencies\tother\tthan\tthe\tU.S.\tdollar\tfor\tour\tforeign\tsubsidiaries.\tAccordingly,\tchanges\tin\nexchange\trates\tand,\tin\tparticular,\ta\tstrengthening\tof\tthe\tU.S.\tdollar\thave\tin\tthe\tpast,\tand\tmay\tin\tthe\tfuture,\tnegatively\taffect\tour\trevenue\tand\tother\noperating\tresults\tas\texpressed\tin\tU.S.\tdollars\tas\twe\tdo\tnot\ttypically\thedge\tforeign\tcurrency.\nWe\thave\talso\texperienced,\tand\twill\tcontinue\tto\texperience,\tfluctuations\tin\tour\tnet\tincome\t(loss)\tas\ta\tresult\tof\tgains\t(losses)\ton\tthe\tsettlement\nand\tthe\tre-measurement\tof\tmonetary\tassets\tand\tliabilities\tdenominated\tin\tcurrencies\tthat\tare\tnot\tthe\tlocal\tcurrency\t(primarily\tconsisting\tof\tour\nintercompany\tand\tcash\tand\tcash\tequivalents\tbalances).\tFor\tthe\tyear\tended\tDecember\t31,\t2019,\twe\trecognized\ta\tnet\tforeign\tcurrency\tgain\tof\t$48\nmillion\tin\tother\t(expense)\tincome,\tnet,\twith\tour\tlargest\tre-measurement\texposures\tfrom\tthe\tU.S.\tdollar,\tBritish\tpound\tand\tCanadian\tdollar\tas\tour\nsubsidiaries\tare\tdenominated\tin\tvarious\tlocal\tcurrencies.\t\nFor\tthe\tyear\tended\tDecember\t31,\t2018,\twe\trecognized\ta\tnet\tforeign\tcurrency\tgain\tof\n$2\tmillion\tin\tother\t(expense)\t\nincome"}


created_at: 2024-04-06 13:59:07
topic: persistent://default/default/19a10f6c-edf5-4774-8347-509021fad678
id: c5d62e2e-f41d-11ee-a3fb-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "tesla-annual-reports/tsla-10k_20191231-gen_0.pdf", "page": 62, "chroma:document": "$2\tmillion\tin\tother\t(expense)\t\nincome\n,\tnet,\twith\tour\tlargest\tre-measurement\texposures\tfrom\tthe\teuro,\tNew\tTaiwan\tdollar\tand\tCanadian\tdollar.\nWe\tconsidered\tthe\thistorical\ttrends\tin\tforeign\tcurrency\texchange\trates\tand\tdetermined\tthat\tit\tis\treasonably\tpossible\tthat\tadverse\tchanges\tin\nforeign\tcurrency\texchange\trates\tof\t10%\tfor\tall\tcurrencies\tcould\tbe\texperienced\tin\tthe\tnear-term.\tThese\tchanges\twere\tapplied\tto\tour\ttotal\tmonetary\nassets\tand\tliabilities\tdenominated\tin\tcurrencies\tother\tthan\tour\tlocal\tcurrencies\tat\tthe\tbalance\tsheet\tdate\tto\tcompute\tthe\timpact\tthese\tchanges\twould\nhave\thad\ton\tour\tnet\tincome\t(loss)\tbefore\tincome\ttaxes.\tThese\tchanges\twould\thave\tresulted\tin\tan\tadverse\timpact\tof\t$362\tmillion\tat\tDecember\t31,\t2019\nand\t$176\tmillion\tat\tDecember\t31,\t2018\tassuming\tno\tforeign\tcurrency\thedging.\nInterest\tRate\tRisk\nWe\tare\texposed\tto\tinterest\trate\trisk\ton\tour\tborrowings\tthat\tbear\tinterest\tat\tfloating\trates.\tPursuant\tto\tour\trisk\tmanagement\tpolicies,\tin\tcertain\ncases,\twe\tutilize\tderivative\tinstruments\tto\tmanage\tsome\tof\tthis\trisk.\tWe\tdo\tnot\tenter\tinto\tderivative\tinstruments\tfor\ttrading\tor\tspeculative\tpurposes.\tA\nhypothetical\t10%\tchange\tin\tour\tinterest\trates\twould\thave\tincreased\tor\tdecreased\tour\tinterest\texpense\tfor\tthe\tyears\tended\tDecember\t31,\t2019\tand\n2018\tby\t$8\tmillion\tand\t$9\tmillion,\trespectively.\n\t\n\t\n\t\n60"}


created_at: 2024-04-06 13:59:07
topic: persistent://default/default/19a10f6c-edf5-4774-8347-509021fad678
id: c5d62e88-f41d-11ee-a3fb-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "tesla-annual-reports/tsla-10k_20191231-gen_0.pdf", "page": 63, "chroma:document": "I\nTEM\t8.\nFINANCIAL\tSTATEMENTS\tAND\tSUPPLEMENTARY\tDATA\n\t\nIndex\tto\tConsolidated\tFinancial\tStatements\n\t\n\t\n\t\t\nPage\nReport\tof\tIndependent\tRegistered\tPublic\tAccounting\tFirm\n\t\t\n62\nConsolidated\tBalance\tSheets\n\t\t\n65\nConsolidated\tStatements\tof\tOperations\n\t\t\n66\nConsolidated\tStatements\tof\tComprehensive\tLoss\n\t\t\n67\nConsolidated\tStatements\tof\tRedeemable\tNoncontrolling\tInterests\tand\tEquity\n\t\t\n68\nConsolidated\tStatements\tof\tCash\tFlows\n\t\t\n69\nNotes\tto\tConsolidated\tFinancial\tStatements\n\t\t\n70\n\t\n\t\n\t\n61"}


created_at: 2024-04-06 13:59:07
topic: persistent://default/default/19a10f6c-edf5-4774-8347-509021fad678
id: c5d62ee2-f41d-11ee-a3fb-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "tesla-annual-reports/tsla-10k_20191231-gen_0.pdf", "page": 64, "chroma:document": "Report\tof\tIndependent\tRegistered\tPublic\tAccounting\tFirm\n\t\nTo\tthe\tBoard\tof\tDirectors\tand\tStockholders\tof\tTesla,\tInc.\nOpinions\ton\tthe\tFinancial\tStatements\tand\tInternal\tControl\tover\tFinancial\tReporting\nWe\thave\taudited\tthe\taccompanying\tconsolidated\tbalance\tsheets\tof\tTesla,\tInc.\tand\tits\tsubsidiaries\t(the\t\u201cCompany\u201d)\tas\tof\tDecember\t31,\t2019\tand\t2018,\nand\tthe\trelated\tconsolidated\tstatements\tof\toperations,\tof\tcomprehensive\tloss,\tof\tredeemable\tnoncontrolling\tinterests\tand\tequity\tand\tof\tcash\tflows\tfor\neach\tof\tthe\tthree\tyears\tin\tthe\tperiod\tended\tDecember\t31,\t2019,\tincluding\tthe\trelated\tnotes\t(collectively\treferred\tto\tas\tthe\t\u201cconsolidated\tfinancial\nstatements\u201d).\tWe\talso\thave\taudited\tthe\tCompany's\tinternal\tcontrol\tover\tfinancial\treporting\tas\tof\tDecember\t31,\t2019,\tbased\ton\tcriteria\testablished\tin\nInternal\tControl\t-\tIntegrated\tFramework\n\t(2013)\tissued\tby\tthe\tCommittee\tof\tSponsoring\tOrganizations\tof\tthe\tTreadway\tCommission\t(COSO).\nIn\tour\topinion,\tthe\tconsolidated\tfinancial\tstatements\treferred\tto\tabove\tpresent\tfairly,\tin\tall\tmaterial\trespects,\tthe\tfinancial\tposition\tof\tthe\tCompany\tas\tof\nDecember\t31,\t2019\tand\t2018,\tand\tthe\tresults\tof\tits\toperations\tand\tits\tcash\tflows\tfor\teach\tof\tthe\tthree\tyears\tin\tthe\tperiod\tended\tDecember\t31,\t2019\tin\nconformity\twith\taccounting\tprinciples\tgenerally\taccepted\tin\tthe\tUnited\tStates\tof\tAmerica.\tAlso\tin\tour\topinion,\tthe\tCompany\tmaintained,\tin\tall\tmaterial\nrespects,\teffective\tinternal\tcontrol\tover\tfinancial\treporting\tas\tof\tDecember\t31,\t2019,\tbased\ton\tcriteria\testablished\tin\t\nInternal\tControl\t-\tIntegrated\nFramework\n\t(2013)\tissued\tby\tthe\tCOSO.\nChanges\tin\tAccounting\tPrinciples"}


created_at: 2024-04-06 13:59:07
topic: persistent://default/default/19a10f6c-edf5-4774-8347-509021fad678
id: c5d62f3c-f41d-11ee-a3fb-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "tesla-annual-reports/tsla-10k_20191231-gen_0.pdf", "page": 64, "chroma:document": "Changes\tin\tAccounting\tPrinciples\nAs\tdiscussed\tin\tNote\t2\tto\tthe\tconsolidated\tfinancial\tstatements,\tthe\tCompany\tchanged\tthe\tmanner\tin\twhich\tit\taccounts\tfor\tleases\tin\t2019\tand\tthe\nmanner\tin\twhich\tit\taccounts\tfor\trevenue\tfrom\tcontracts\twith\tcustomers\tin\t2018.\nBasis\tfor\tOpinions\nThe\tCompany's\tmanagement\tis\tresponsible\tfor\tthese\tconsolidated\tfinancial\tstatements,\tfor\tmaintaining\teffective\tinternal\tcontrol\tover\tfinancial\nreporting,\tand\tfor\tits\tassessment\tof\tthe\teffectiveness\tof\tinternal\tcontrol\tover\tfinancial\treporting,\tincluded\tin\tManagement\u2019s\tReport\ton\tInternal\tControl\nover\tFinancial\tReporting\tappearing\tunder\tItem\t9A.\tOur\tresponsibility\tis\tto\texpress\topinions\ton\tthe\tCompany\u2019s\tconsolidated\tfinancial\tstatements\tand\ton\nthe\tCompany's\tinternal\tcontrol\tover\tfinancial\treporting\tbased\ton\tour\taudits.\tWe\tare\ta\tpublic\taccounting\tfirm\tregistered\twith\tthe\tPublic\tCompany\nAccounting\tOversight\tBoard\t(United\tStates)\t(PCAOB)\tand\tare\trequired\tto\tbe\tindependent\twith\trespect\tto\tthe\tCompany\tin\taccordance\twith\tthe\tU.S.\nfederal\tsecurities\tlaws\tand\tthe\tapplicable\trules\tand\tregulations\tof\tthe\tSecurities\tand\tExchange\tCommission\tand\tthe\tPCAOB.\nWe\tconducted\tour\taudits\tin\taccordance\twith\tthe\tstandards\tof\tthe\tPCAOB.\tThose\tstandards\trequire\tthat\twe\tplan\tand\tperform\tthe\taudits\tto\tobtain\nreasonable\tassurance\tabout\twhether\tthe\tconsolidated\tfinancial\tstatements\tare\tfree\tof\tmaterial\tmisstatement,\twhether\tdue\tto\terror\tor\tfraud,\tand\nwhether\teffective\tinternal\tcontrol\tover\tfinancial\treporting\twas\tmaintained\tin\tall\tmaterial\trespects.\nOur\taudits\tof\tthe\tconsolidated\tfinancial\tstatements\tincluded\tperforming\tprocedures\tto\tassess\tthe\trisks\tof\tmaterial\tmisstatement\tof\tthe\tconsolidated"}


created_at: 2024-04-06 13:59:07
topic: persistent://default/default/19a10f6c-edf5-4774-8347-509021fad678
id: c5d62f96-f41d-11ee-a3fb-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "tesla-annual-reports/tsla-10k_20191231-gen_0.pdf", "page": 64, "chroma:document": "financial\tstatements,\twhether\tdue\tto\terror\tor\tfraud,\tand\tperforming\tprocedures\tthat\trespond\tto\tthose\trisks.\tSuch\tprocedures\tincluded\texamining,\ton\ta\ntest\tbasis,\tevidence\tregarding\tthe\tamounts\tand\tdisclosures\tin\tthe\tconsolidated\tfinancial\tstatements.\tOur\taudits\talso\tincluded\tevaluating\tthe\taccounting\nprinciples\tused\tand\tsignificant\testimates\tmade\tby\tmanagement,\tas\twell\tas\tevaluating\tthe\toverall\tpresentation\tof\tthe\tconsolidated\tfinancial\tstatements.\nOur\taudit\tof\tinternal\tcontrol\tover\tfinancial\treporting\tincluded\tobtaining\tan\tunderstanding\tof\tinternal\tcontrol\tover\tfinancial\treporting,\tassessing\tthe\trisk\nthat\ta\tmaterial\tweakness\texists,\tand\ttesting\tand\tevaluating\tthe\tdesign\tand\toperating\teffectiveness\tof\tinternal\tcontrol\tbased\ton\tthe\tassessed\trisk.\tOur\naudits\talso\tincluded\tperforming\tsuch\tother\tprocedures\tas\twe\tconsidered\tnecessary\tin\tthe\tcircumstances.\tWe\tbelieve\tthat\tour\taudits\tprovide\ta\nreasonable\tbasis\tfor\tour\topinions.\n62"}


created_at: 2024-04-06 13:59:07
topic: persistent://default/default/19a10f6c-edf5-4774-8347-509021fad678
id: c5d62ffa-f41d-11ee-a3fb-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "tesla-annual-reports/tsla-10k_20191231-gen_0.pdf", "page": 65, "chroma:document": "Definition\tand\tLimitations\tof\tInternal\tControl\tover\tFinancial\tReporting\nA\tcompany\u2019s\tinternal\tcontrol\tover\tfinancial\treporting\tis\ta\tprocess\tdesigned\tto\tprovide\treasonable\tassurance\tregarding\tthe\treliability\tof\tfinancial\nreporting\tand\tthe\tpreparation\tof\tfinancial\tstatements\tfor\texternal\tpurposes\tin\taccordance\twith\tgenerally\taccepted\taccounting\tprinciples.\tA\tcompany\u2019s\ninternal\tcontrol\tover\tfinancial\treporting\tincludes\tthose\tpolicies\tand\tprocedures\tthat\t(i)\tpertain\tto\tthe\tmaintenance\tof\trecords\tthat,\tin\treasonable\tdetail,\naccurately\tand\tfairly\treflect\tthe\ttransactions\tand\tdispositions\tof\tthe\tassets\tof\tthe\tcompany;\t(ii)\tprovide\treasonable\tassurance\tthat\ttransactions\tare\nrecorded\tas\tnecessary\tto\tpermit\tpreparation\tof\tfinancial\tstatements\tin\taccordance\twith\tgenerally\taccepted\taccounting\tprinciples,\tand\tthat\treceipts\tand\nexpenditures\tof\tthe\tcompany\tare\tbeing\tmade\tonly\tin\taccordance\twith\tauthorizations\tof\tmanagement\tand\tdirectors\tof\tthe\tcompany;\tand\t(iii)\tprovide\nreasonable\tassurance\tregarding\tprevention\tor\ttimely\tdetection\tof\tunauthorized\tacquisition,\tuse,\tor\tdisposition\tof\tthe\tcompany\u2019s\tassets\tthat\tcould\thave\ta\nmaterial\teffect\ton\tthe\tfinancial\tstatements.\nBecause\tof\tits\tinherent\tlimitations,\tinternal\tcontrol\tover\tfinancial\treporting\tmay\tnot\tprevent\tor\tdetect\tmisstatements.\tAlso,\tprojections\tof\tany\tevaluation\nof\teffectiveness\tto\tfuture\tperiods\tare\tsubject\tto\tthe\trisk\tthat\tcontrols\tmay\tbecome\tinadequate\tbecause\tof\tchanges\tin\tconditions,\tor\tthat\tthe\tdegree\tof\ncompliance\twith\tthe\tpolicies\tor\tprocedures\tmay\tdeteriorate.\nCritical\tAudit\tMatters\nThe\tcritical\taudit\tmatters\tcommunicated\tbelow\tare\tmatters\tarising\tfrom\tthe\tcurrent\tperiod\taudit\tof\tthe\tconsolidated\tfinancial\tstatements\tthat\twere\ncommunicated\tor\trequired\tto\tbe\tcommunicated\tto\tthe\taudit\tcommittee\tand\tthat\t(i)\trelate\tto\taccounts\tor\tdisclosures\tthat\tare\tmaterial\tto\tthe"}


created_at: 2024-04-06 13:59:07
topic: persistent://default/default/19a10f6c-edf5-4774-8347-509021fad678
id: c5d63054-f41d-11ee-a3fb-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "tesla-annual-reports/tsla-10k_20191231-gen_0.pdf", "page": 65, "chroma:document": "consolidated\tfinancial\tstatements\tand\t(ii)\tinvolved\tour\tespecially\tchallenging,\tsubjective,\tor\tcomplex\tjudgments.\tThe\tcommunication\tof\tcritical\taudit\nmatters\tdoes\tnot\talter\tin\tany\tway\tour\topinion\ton\tthe\tconsolidated\tfinancial\tstatements,\ttaken\tas\ta\twhole,\tand\twe\tare\tnot,\tby\tcommunicating\tthe\tcritical\naudit\tmatters\tbelow,\tproviding\tseparate\topinions\ton\tthe\tcritical\taudit\tmatters\tor\ton\tthe\taccounts\tor\tdisclosures\tto\twhich\tthey\trelate.\nAutomotive\tSales\tTo\tCustomers\tWith\ta\tResale\tValue\tGuarantee\tor\tBuyback\tOption\nAs\tdescribed\tin\tNote\t2\tto\tthe\tconsolidated\tfinancial\tstatements,\tthe\tsales\treturn\treserve\trelated\tto\tresale\tvalue\tguarantees\tor\tbuyback\toptions\twas\n$639\tmillion\tas\tof\tDecember\t31,\t2019,\tof\twhich\t$93\tmillion\twas\tshort-term.\tThe\tCompany\toffers\tsome\tcustomers\tresale\tvalue\tguarantees\tor\tbuyback\noptions.\tUnder\tthese\tprograms,\tthe\tCompany\treceives\tfull\tpayment\tfor\tthe\tvehicle\tsales\tprice\tat\tthe\ttime\tof\tdelivery\tand\tthe\tcustomer\thas\tthe\toption\tof\nselling\ttheir\tvehicle\tback\tto\tthe\tCompany\tduring\tthe\tguarantee\tperiod\tfor\ta\tpre-determined\tresale\tvalue.\tIn\tcircumstances\twhere\tmanagement\tdoes\tnot\nbelieve\tthe\tcustomer\thas\ta\tsignificant\teconomic\tincentive\tto\texercise\tthe\tresale\tvalue\tguarantee\tor\tbuyback\toption\tprovided\tto\tthem,\tthe\tCompany\nrecognizes\trevenue\twhen\tcontrol\ttransfers\tupon\tdelivery\tto\ta\tcustomer\tas\ta\tsale\twith\ta\tright\tof\treturn.\tIn\tcircumstances\twhere\tmanagement\tbelieves\nthe\tcustomer\thas\ta\tsignificant\teconomic\tincentive\tto\texercise\tthe\tresale\tvalue\tguarantee\tor\tbuyback\toption,\tthe\tCompany\trecognizes\tthe\ttransaction\tas\nan\toperating\tlease.\tManagement\u2019s\tdetermination\tof\twhether\tthere\tis\ta\tsignificant\teconomic\tincentive\tincludes\tcomparing\tand\tconsidering\ta\tvehicle\u2019s"}


created_at: 2024-04-06 13:59:07
topic: persistent://default/default/19a10f6c-edf5-4774-8347-509021fad678
id: c5d630ae-f41d-11ee-a3fb-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "tesla-annual-reports/tsla-10k_20191231-gen_0.pdf", "page": 65, "chroma:document": "estimated\tmarket\tvalue\tat\tthe\ttime\tthe\toption\tis\texercisable\twith\tthe\tguaranteed\tresale\tvalue.\tSales\treturn\treserves\tare\testimated\tbased\ton\thistorical\nexperience\tplus\testimates\tof\texpected\tfuture\tmarket\tvalues.\tOn\ta\tquarterly\tbasis,\tmanagement\treassesses\tthe\testimated\tfuture\tmarket\tvalues\tof\nvehicles\tunder\tthese\tprograms,\ttaking\tinto\taccount\tprice\tadjustments\ton\tnew\tvehicles\tand\tother\tchanges\tin\tmarket\tvalue\tsubsequent\tto\tthe\tinitial\tsale\nto\tdetermine\tthe\tneed\tfor\tchanges\tto\tthe\treserve.\t\t\nThe\tprincipal\tconsiderations\tfor\tour\tdetermination\tthat\tperforming\tprocedures\trelating\tto\tautomotive\tsales\tto\tcustomers\twith\ta\tresale\tvalue\tguarantee\nor\tbuyback\toption\tis\ta\tcritical\taudit\tmatter\tare\tthere\twas\tsignificant\tjudgment\tby\tmanagement\tin\tdetermining\tthe\tsales\treturn\treserve\twhen\tcustomers\ndo\tnot\thave\ta\tsignificant\teconomic\tincentive\tto\texercise\ttheir\toption.\tThis\tin\tturn\tled\tto\thigh\tdegree\tof\tauditor\tjudgment,\tsubjectivity,\tand\teffort\tin\nperforming\tprocedures\tand\tevaluating\tevidence\tin\tthe\tsales\treturn\treserve\twhen\tcustomers\tdo\tnot\thave\ta\tsignificant\teconomic\tincentive.\t\t\n63"}


created_at: 2024-04-06 13:59:07
topic: persistent://default/default/19a10f6c-edf5-4774-8347-509021fad678
id: c5d63108-f41d-11ee-a3fb-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "tesla-annual-reports/tsla-10k_20191231-gen_0.pdf", "page": 66, "chroma:document": "Addressing\tthe\tmatter\tinvolved\tperforming\tprocedures\tand\tevaluating\taudit\tevidence\tin\tconnection\twith\tforming\tour\toverall\topinion\ton\tthe\tconsolidated\nfinancial\tstatements.\tThese\tprocedures\tincluded\ttesting\tthe\teffectiveness\tof\tcontrols\trelating\tto\tautomotive\trevenue\trecognition\tfor\tsales\tto\tcustomers\nwith\ta\tresale\tvalue\tguarantee\tor\tbuyback\toption\tas\twell\tas\tthe\trelated\tsales\treturn\treserve,\tincluding\tcontrols\tover\tmanagement\u2019s\testimate\tof\texpected\nfuture\tmarket\tvalues\tand\thistorical\texperience.\tThese\tprocedures\talso\tincluded,\tamong\tothers,\ttesting\tmanagement\u2019s\tprocess\tfor\tdetermining\twhether\ncustomers\thave\ta\tsignificant\teconomic\tincentive\tto\texercise\ttheir\tput\trights\tunder\tthe\tresale\tvalue\tguarantee\tand\tbuyback\toption\tprograms\tand,\tif\tnot,\nthe\trelated\tsales\treturn\treserve.\tThis\tincluded\tevaluating\tthe\tappropriateness\tof\tthe\tmodel\tapplied\tand\tthe\treasonableness\tof\tsignificant\tassumptions,\nincluding\thistorical\texperience\tand\tthe\testimated\texpected\tfuture\tmarket\tvalues\tused\tin\tthe\tcomparison\tto\tguaranteed\tresale\tamounts.\tEvaluating\nassumptions\trelated\tto\thistorical\texperience\tand\testimated\texpected\tfuture\tmarket\tvalues\tinvolved\tevaluating\twhether\tthe\tassumptions\tused\twere\nreasonable\tconsidering\tcurrent\tand\tpast\tperformance\tand\tconsistency\twith\tevidence\tobtained\tin\tother\tareas\tof\tthe\taudit.\tProcedures\twere\tperformed\tto\nevaluate\tthe\treliability,\tcompleteness\tand\trelevance\tof\tmanagement\u2019s\tdata\tused\tin\tthe\tdevelopment\tof\tthe\thistorical\texperience\tassumption.\nAutomotive\tWarranty\tReserve\nAs\tdescribed\tin\tNote\t2\tto\tthe\tconsolidated\tfinancial\tstatements,\ttotal\taccrued\twarranty,\twhich\tprimarily\trelates\tto\tthe\tautomotive\tsegment,\twas\t$1,089\nmillion\tas\tof\tDecember\t31,\t2019.\tThe\tCompany\tprovides\ta\tmanufacturer\u2019s\twarranty\ton\tall\tnew\tand\tused\tTesla\tvehicles.\tAs\tdescribed\tin\tNote\t2,\ta"}


created_at: 2024-04-06 13:59:07
topic: persistent://default/default/19a10f6c-edf5-4774-8347-509021fad678
id: c5d63162-f41d-11ee-a3fb-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "tesla-annual-reports/tsla-10k_20191231-gen_0.pdf", "page": 66, "chroma:document": "warranty\treserve\tis\taccrued\tfor\tthese\tproducts\tsold,\twhich\tincludes\tmanagement\u2019s\tbest\testimate\tof\tthe\tprojected\tcosts\tto\trepair\tor\treplace\titems\tunder\nwarranty,\tincluding\trecalls\twhen\tidentified.\tThese\testimates\tare\tbased\ton\tactual\tclaims\tincurred\tto\tdate\tand\tan\testimate\tof\tthe\tnature,\tfrequency\tand\ncosts\tof\tfuture\tclaims.\t\t\nThe\tprincipal\tconsiderations\tfor\tour\tdetermination\tthat\tperforming\tprocedures\trelating\tto\tthe\tautomotive\twarranty\treserve\tis\ta\tcritical\taudit\tmatter\tare\nthere\twas\tsignificant\tjudgment\tby\tmanagement\tin\tdetermining\tthe\twarranty\treserve.\tThis\tin\tturn\tled\tto\tsignificant\tauditor\tjudgment,\tsubjectivity,\tand\neffort\tin\tperforming\tprocedures\tto\tevaluate\tthe\testimate\tof\tthe\tnature,\tfrequency\tand\tcosts\tof\tfuture\tclaims,\tand\tthe\taudit\teffort\tinvolved\tthe\tuse\tof\nprofessionals\twith\tspecialized\tskill\tand\tknowledge.\t\t\nAddressing\tthe\tmatter\tinvolved\tperforming\tprocedures\tand\tevaluating\taudit\tevidence\tin\tconnection\twith\tforming\tour\toverall\topinion\ton\tthe\tconsolidated\nfinancial\tstatements.\tThese\tprocedures\tincluded\ttesting\tthe\teffectiveness\tof\tcontrols\trelating\tto\tmanagement\u2019s\testimate\tof\tthe\tautomotive\twarranty\nreserve,\tincluding\tcontrols\tover\tmanagement\u2019s\testimate\tof\tthe\tnature,\tfrequency\tand\tcosts\tof\tfuture\tclaims\tas\twell\tas\tthe\tcompleteness\tand\taccuracy\tof\nactual\tclaims\tincurred\tto\tdate.\tThese\tprocedures\talso\tincluded,\tamong\tothers,\ttesting\tmanagement\u2019s\tprocess\tfor\tdetermining\tthe\tautomotive\twarranty\nreserve.\tThis\tincluded\tevaluating\tthe\tappropriateness\tof\tthe\tmodel\tapplied\tand\tthe\treasonableness\tof\tsignificant\tassumptions,\tincluding\tthe\tnature\tand\nfrequency\tof\tfuture\tclaims\tand\tthe\trelated\tcosts\tto\trepair\tor\treplace\titems\tunder\twarranty.\tEvaluating\tthe\tassumptions\trelated\tto\tthe\tnature\tand"}


created_at: 2024-04-06 13:59:07
topic: persistent://default/default/19a10f6c-edf5-4774-8347-509021fad678
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{"source": "tesla-annual-reports/tsla-10k_20191231-gen_0.pdf", "page": 66, "chroma:document": "frequency\tof\tfuture\tclaims\tand\tthe\trelated\tcosts\tto\trepair\tor\treplace\titems\tunder\twarranty\tinvolved\tevaluating\twhether\tthe\tassumptions\tused\twere\nreasonable\tconsidering\tcurrent\tand\tpast\tperformance,\tincluding\ta\tlookback\tanalysis\tcomparing\tprior\tperiod\tforecasted\tclaims\tto\tactual\tclaims\tincurred.\nThese\tprocedures\talso\tincluded\tdeveloping\tan\tindependent\testimate\tof\ta\tportion\tof\tthe\twarranty\taccrual,\tcomparing\tthe\tindependent\testimate\tto\nmanagement\u2019s\testimate\tto\tevaluate\tthe\treasonableness\tof\tthe\testimate,\tand\ttesting\tthe\tcompleteness\tand\taccuracy\tof\thistorical\tvehicle\tclaims.\nProcedures\twere\tperformed\tto\ttest\tthe\treliability,\tcompleteness,\tand\trelevance\tof\tmanagement\u2019s\tdata\trelated\tto\tthe\thistorical\tclaims\tprocessed\tand\tthat\nsuch\tclaims\twere\tappropriately\tused\tby\tmanagement\tin\tthe\testimation\tof\tfuture\tclaims.\tProfessionals\twith\tspecialized\tskill\tand\tknowledge\twere\tused\tto\nassist\tin\tevaluating\tthe\tappropriateness\tof\taspects\tof\tmanagement\u2019s\tmodel\tfor\testimating\tthe\tnature\tand\tfrequency\tof\tfuture\tclaims,\tand\ttesting\nmanagement\u2019s\twarranty\treserve\tfor\ta\tportion\tof\tfuture\twarranty\tclaims.\n\t\n\t\n/s/PricewaterhouseCoopers\tLLP\nSan\tJose,\tCalifornia\nFebruary\t13,\t2020\nWe\thave\tserved\tas\tthe\tCompany\u2019s\tauditor\tsince\t2005.\n\t\n\t\n\t\n\t\n64"}


created_at: 2024-04-06 13:59:07
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{"source": "tesla-annual-reports/tsla-10k_20191231-gen_0.pdf", "page": 67, "chroma:document": "Tesla,\tInc.\nConsolidated\tBalance\tSheets\n(in\tmillions,\texcept\tper\tshare\tdata)\n\t\n\t\n\t\nDecember\t31,\n\t\n\t\nDecember\t31,\n\t\n\t\n\t\n2019\n\t\n\t\n2018\n\t\nAssets\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\nCurrent\tassets\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\nCash\tand\tcash\tequivalents\n\t\n$\n6,268\n\t\n\t\n$\n3,686\n\t\nRestricted\tcash\n\t\n\t\n246\n\t\n\t\n\t\n193\n\t\nAccounts\treceivable,\tnet\n\t\n\t\n1,324\n\t\n\t\n\t\n949\n\t\nInventory\n\t\n\t\n3,552\n\t\n\t\n\t\n3,113\n\t\nPrepaid\texpenses\tand\tother\tcurrent\tassets\n\t\n\t\n713\n\t\n\t\n\t\n366\n\t\nTotal\tcurrent\tassets\n\t\n\t\n12,103\n\t\n\t\n\t\n8,307\n\t\nOperating\tlease\tvehicles,\tnet\n\t\n\t\n2,447\n\t\n\t\n\t\n2,090\n\t\nSolar\tenergy\tsystems,\tnet\n\t\n\t\n6,138\n\t\n\t\n\t\n6,271\n\t\nProperty,\tplant\tand\tequipment,\tnet\n\t\n\t\n10,396\n\t\n\t\n\t\n11,330\n\t\nOperating\tlease\tright-of-use\tassets\n\t\n\t\n1,218\n\t\n\t\n\t\n\u2014\n\t\nIntangible\tassets,\tnet\n\t\n\t\n339\n\t\n\t\n\t\n282\n\t\nGoodwill\n\t\n\t\n198\n\t\n\t\n\t\n68\n\t\nMyPower\tcustomer\tnotes\treceivable,\tnet\tof\tcurrent\tportion\n\t\n\t\n393\n\t\n\t\n\t\n422\n\t\nRestricted\tcash,\tnet\tof\tcurrent\tportion\n\t\n\t\n269\n\t\n\t\n\t\n398\n\t\nOther\tassets\n\t\n\t\n808\n\t\n\t\n\t\n572\n\t\nTotal\tassets\n\t\n$\n34,309\n\t\n\t\n$\n29,740\n\t\nLiabilities"}


created_at: 2024-04-06 13:59:07
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{"source": "tesla-annual-reports/tsla-10k_20191231-gen_0.pdf", "page": 67, "chroma:document": "$\n29,740\n\t\nLiabilities\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\nCurrent\tliabilities\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\nAccounts\tpayable\n\t\n$\n3,771\n\t\n\t\n$\n3,405\n\t\nAccrued\tliabilities\tand\tother\n\t\n\t\n2,905\n\t\n\t\n\t\n2,094\n\t\nDeferred\trevenue\n\t\n\t\n1,163\n\t\n\t\n\t\n630\n\t\nResale\tvalue\tguarantees\n\t\n\t\n317\n\t\n\t\n\t\n503\n\t\nCustomer\tdeposits\n\t\n\t\n726\n\t\n\t\n\t\n793\n\t\nCurrent\tportion\tof\tdebt\tand\tfinance\tleases\n\t\n\t\n1,785\n\t\n\t\n\t\n2,568\n\t\nTotal\tcurrent\tliabilities\n\t\n\t\n10,667\n\t\n\t\n\t\n9,993\n\t\nDebt\tand\tfinance\tleases,\tnet\tof\tcurrent\tportion\n\t\n\t\n11,634\n\t\n\t\n\t\n9,404\n\t\nDeferred\trevenue,\tnet\tof\tcurrent\tportion\n\t\n\t\n1,207\n\t\n\t\n\t\n991\n\t\nResale\tvalue\tguarantees,\tnet\tof\tcurrent\tportion\n\t\n\t\n36\n\t\n\t\n\t\n329\n\t\nOther\tlong-term\tliabilities\n\t\n\t\n2,655\n\t\n\t\n\t\n2,710\n\t\nTotal\tliabilities\n\t\n\t\n26,199\n\t\n\t\n\t\n23,427\n\t\nCommitments\tand\tcontingencies\t(Note\t16)\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\nRedeemable\tnoncontrolling\tinterests\tin\tsubsidiaries\n\t\n\t\n643\n\t\n\t\n\t\n556\n\t\nEquity\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\nStockholders'\tequity\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\nPreferred\tstock;\t$\n0.001\n\tpar\tvalue;\t\n100\n\tshares\tauthorized;\n\t\t\t\nno"}


created_at: 2024-04-06 13:59:07
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{"source": "tesla-annual-reports/tsla-10k_20191231-gen_0.pdf", "page": 67, "chroma:document": "100\n\tshares\tauthorized;\n\t\t\t\nno\n\tshares\tissued\tand\toutstanding\n\t\n\t\n\u2014\n\t\n\t\n\t\n\u2014\n\t\nCommon\tstock;\t$\n0.001\n\tpar\tvalue;\t\n2,000\n\tshares\tauthorized;\n\t181\n\tand\n\t\t\t\n173\n\tshares\tissued\tand\toutstanding\tas\tof\tDecember\t31,\t2019\tand\t2018,\n\t\t\trespectively\n\t\n\t\n0\n\t\n\t\n\t\n0\n\t\nAdditional\tpaid-in\tcapital\n\t\n\t\n12,737\n\t\n\t\n\t\n10,249\n\t\nAccumulated\tother\tcomprehensive\tloss\n\t\n\t\n(\n36\n)\n\t\n\t\n(\n8\n)\nAccumulated\tdeficit\n\t\n\t\n(\n6,083\n)\n\t\n\t\n(\n5,318\n)\nTotal\tstockholders'\tequity\n\t\n\t\n6,618\n\t\n\t\n\t\n4,923\n\t\nNoncontrolling\tinterests\tin\tsubsidiaries\n\t\n\t\n849\n\t\n\t\n\t\n834\n\t\nTotal\tliabilities\tand\tequity\n\t\n$\n34,309\n\t\n\t\n$\n29,740\n\t\nThe\taccompanying\tnotes\tare\tan\tintegral\tpart\tof\tthese\tconsolidated\tfinancial\tstatements.\n\t\n\t\n65"}


created_at: 2024-04-06 13:59:07
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{"source": "tesla-annual-reports/tsla-10k_20191231-gen_0.pdf", "page": 68, "chroma:document": "Tesla,\tInc.\n\t\nConsolidated\tStatements\tof\tOperations\n(in\tmillions,\texcept\tper\tshare\tdata)\n\t\n\t\n\t\nYear\tEnded\tDecember\t31,\n\t\n\t\n\t\n2019\n\t\n\t\n2018\n\t\n\t\n2017\n\t\nRevenues\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\nAutomotive\tsales\n\t\n$\n19,952\n\t\n\t\n$\n17,632\n\t\n\t\n$\n8,535\n\t\nAutomotive\tleasing\n\t\n\t\n869\n\t\n\t\n\t\n883\n\t\n\t\n\t\n1,107\n\t\nTotal\tautomotive\trevenues\n\t\n\t\n20,821\n\t\n\t\n\t\n18,515\n\t\n\t\n\t\n9,642\n\t\nEnergy\tgeneration\tand\tstorage\n\t\n\t\n1,531\n\t\n\t\n\t\n1,555\n\t\n\t\n\t\n1,116\n\t\nServices\tand\tother\n\t\n\t\n2,226\n\t\n\t\n\t\n1,391\n\t\n\t\n\t\n1,001\n\t\nTotal\trevenues\n\t\n\t\n24,578\n\t\n\t\n\t\n21,461\n\t\n\t\n\t\n11,759\n\t\nCost\tof\trevenues\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\nAutomotive\tsales\n\t\n\t\n15,939\n\t\n\t\n\t\n13,686\n\t\n\t\n\t\n6,725\n\t\nAutomotive\tleasing\n\t\n\t\n459\n\t\n\t\n\t\n488\n\t\n\t\n\t\n708\n\t\nTotal\tautomotive\tcost\tof\trevenues\n\t\n\t\n16,398\n\t\n\t\n\t\n14,174\n\t\n\t\n\t\n7,433\n\t\nEnergy\tgeneration\tand\tstorage\n\t\n\t\n1,341\n\t\n\t\n\t\n1,365\n\t\n\t\n\t\n874\n\t\nServices\tand\tother\n\t\n\t\n2,770\n\t\n\t\n\t\n1,880\n\t\n\t\n\t\n1,229"}


created_at: 2024-04-06 13:59:07
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{"source": "tesla-annual-reports/tsla-10k_20191231-gen_0.pdf", "page": 68, "chroma:document": "1,880\n\t\n\t\n\t\n1,229\n\t\nTotal\tcost\tof\trevenues\n\t\n\t\n20,509\n\t\n\t\n\t\n17,419\n\t\n\t\n\t\n9,536\n\t\nGross\tprofit\n\t\n\t\n4,069\n\t\n\t\n\t\n4,042\n\t\n\t\n\t\n2,223\n\t\nOperating\texpenses\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\nResearch\tand\tdevelopment\n\t\n\t\n1,343\n\t\n\t\n\t\n1,460\n\t\n\t\n\t\n1,378\n\t\nSelling,\tgeneral\tand\tadministrative\n\t\n\t\n2,646\n\t\n\t\n\t\n2,835\n\t\n\t\n\t\n2,477\n\t\nRestructuring\tand\tother\n\t\n\t\n149\n\t\n\t\n\t\n135\n\t\n\t\n\t\n\u2014\n\t\nTotal\toperating\texpenses\n\t\n\t\n4,138\n\t\n\t\n\t\n4,430\n\t\n\t\n\t\n3,855\n\t\nLoss\tfrom\toperations\n\t\n\t\n(\n69\n)\n\t\n\t\n(\n388\n)\n\t\n\t\n(\n1,632\n)\nInterest\tincome\n\t\n\t\n44\n\t\n\t\n\t\n24\n\t\n\t\n\t\n19\n\t\nInterest\texpense\n\t\n\t\n(\n685\n)\n\t\n\t\n(\n663\n)\n\t\n\t\n(\n471\n)\nOther\tincome\t(expense),\tnet\n\t\n\t\n45\n\t\n\t\n\t\n22\n\t\n\t\n\t\n(\n125\n)\nLoss\tbefore\tincome\ttaxes\n\t\n\t\n(\n665\n)\n\t\n\t\n(\n1,005\n)\n\t\n\t\n(\n2,209\n)\nProvision\tfor\tincome\ttaxes\n\t\n\t\n110\n\t\n\t\n\t\n58\n\t\n\t\n\t\n32\n\t\nNet\tloss\n\t\n\t\n(\n775\n)\n\t\n\t\n(\n1,063\n)\n\t\n\t\n(\n2,241\n)"}


created_at: 2024-04-06 13:59:07
topic: persistent://default/default/19a10f6c-edf5-4774-8347-509021fad678
id: c5d633e2-f41d-11ee-a3fb-0242ac1c000c
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{"source": "tesla-annual-reports/tsla-10k_20191231-gen_0.pdf", "page": 68, "chroma:document": ")\n\t\n\t\n(\n2,241\n)\nNet\tincome\t(loss)\tattributable\tto\tnoncontrolling\tinterests\tand\n\t\t\tredeemable\tnoncontrolling\tinterests\tin\tsubsidiaries\n\t\n\t\n87\n\t\n\t\n\t\n(\n87\n)\n\t\n\t\n(\n279\n)\nNet\tloss\tattributable\tto\tcommon\tstockholders\n\t\n$\n(\n862\n)\n\t\n$\n(\n976\n)\n\t\n$\n(\n1,962\n)\nNet\tloss\tper\tshare\tof\tcommon\tstock\tattributable\tto\n\t\t\tcommon\tstockholders\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\nBasic\n\t\n\t\n(\n4.92\n)\n\t\n$\n(\n5.72\n)\n\t\n$\n(\n11.83\n)\nDiluted\n\t\n\t\n(\n4.92\n)\n\t\n$\n(\n5.72\n)\n\t\n$\n(\n11.83\n)\nWeighted\taverage\tshares\tused\tin\tcomputing\tnet\tloss\tper\n\t\t\tshare\tof\tcommon\tstock\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\nBasic\n\t\n\t\n177\n\t\n\t\n\t\n171\n\t\n\t\n\t\n166\n\t\nDiluted\n\t\n\t\n177\n\t\n\t\n\t\n171\n\t\n\t\n\t\n166\n\t\nThe\taccompanying\tnotes\tare\tan\tintegral\tpart\tof\tthese\tconsolidated\tfinancial\tstatements.\n\t\n\t\n\t\n66"}


created_at: 2024-04-06 13:59:07
topic: persistent://default/default/19a10f6c-edf5-4774-8347-509021fad678
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{"source": "tesla-annual-reports/tsla-10k_20191231-gen_0.pdf", "page": 69, "chroma:document": "Tesla,\tInc.\nConsolidated\tStatements\tof\tComprehensive\tLoss\n(in\tmillions)\n\t\n\t\n\t\nYear\tEnded\tDecember\t31,\n\t\n\t\n\t\n2019\n\t\n\t\n2018\n\t\n\t\n2017\n\t\nNet\tloss\n\t\n$\n(\n775\n)\n\t\n$\n(\n1,063\n)\n\t\n$\n(\n2,241\n)\nOther\tcomprehensive\tloss:\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\nReclassification\tadjustment\tfor\tnet\tgains\n\t\t\ton\tderivatives\tinto\tnet\tloss\n\t\n\t\n\u2014\n\t\n\t\n\t\n\u2014\n\t\n\t\n\t\n(\n6\n)\nForeign\tcurrency\ttranslation\tadjustment\n\t\n\t\n(\n28\n)\n\t\n\t\n(\n42\n)\n\t\n\t\n63\n\t\nComprehensive\tloss\n\t\n\t\n(\n803\n)\n\t\n\t\n(\n1,105\n)\n\t\n\t\n(\n2,184\n)\nLess:\tComprehensive\tincome\t(loss)\tattributable\tto\tnoncontrolling\n\t\t\tinterests\tand\tredeemable\tnoncontrolling\tinterests\tin\tsubsidiaries\n\t\n\t\n87\n\t\n\t\n\t\n(\n87\n)\n\t\n\t\n(\n279\n)\nComprehensive\tloss\tattributable\tto\tcommon\tstockholders\n\t\n$\n(\n890\n)\n\t\n$\n(\n1,018\n)\n\t\n$\n(\n1,905\n)\n\t\nThe\taccompanying\tnotes\tare\tan\tintegral\tpart\tof\tthese\tconsolidated\tfinancial\tstatements.\n\t\n\t\n\t\n67"}


created_at: 2024-04-06 13:59:07
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id: c5d634a0-f41d-11ee-a3fb-0242ac1c000c
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created_at: 2024-04-06 13:59:07
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created_at: 2024-04-06 13:59:07
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{"source": "tesla-annual-reports/tsla-10k_20191231-gen_0.pdf", "page": 70, "chroma:document": "\u2014\n\t\n\t\n\t\n(\n4\n)\n\t\n\t\n\u2014\n\t\n\t\n\t\n(\n4\n)\nNet\tincome\t(loss)\n\t\n\t\n48\n\t\n\t\n\t\n\t\n\u2014\n\t\n\t\n\t\n\u2014\n\t\n\t\n\t\n\u2014\n\t\n\t\n\t\n(\n862\n)\n\t\n\t\n\u2014\n\t\n\t\n\t\n(\n862\n)\n\t\n\t\n39\n\t\n\t\n\t\n(\n823\n)\nOther\tcomprehensive\tloss\n\t\n\t\n\u2014\n\t\n\t\n\t\n\t\n\u2014\n\t\n\t\n\t\n\u2014\n\t\n\t\n\t\n\u2014\n\t\n\t\n\t\n\u2014\n\t\n\t\n\t\n(\n28\n)\n\t\n\t\n(\n28\n)\n\t\n\t\n\u2014\n\t\n\t\n\t\n(\n28\n)\nBalance\tas\tof\tDecember\t31,\t2019\n\t\n$\n643\n\t\n\t\n\t\n\t\n181\n\t\n\t\n$\n0\n\t\n\t\n$\n12,737\n\t\n\t\n$\n(\n6,083\n)\n\t\n$\n(\n36\n)\n\t\n$\n6,618\n\t\n\t\n$\n849\n\t\n\t\n$\n7,467\n\t\nThe\taccompanying\tnotes\tare\tan\tintegral\tpart\tof\tthese\tconsolidated\tfinancial\tstatements.\n\t\n68"}


created_at: 2024-04-06 13:59:07
topic: persistent://default/default/19a10f6c-edf5-4774-8347-509021fad678
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encoding: FLOAT32
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{"source": "tesla-annual-reports/tsla-10k_20191231-gen_0.pdf", "page": 71, "chroma:document": "Tesla,\tInc.\nConsolidated\tStatements\tof\tCash\tFlows\n(in\tmillions)\n\t\n\t\n\t\nYear\tEnded\tDecember\t31,\n\t\n\t\n\t\n2019\n\t\n\t\n2018\n\t\n\t\n2017\n\t\nCash\tFlows\tfrom\tOperating\tActivities\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\nNet\tloss\n\t\n$\n(\n775\n)\n\t\n$\n(\n1,063\n)\n\t\n$\n(\n2,241\n)\nAdjustments\tto\treconcile\tnet\tloss\tto\tnet\tcash\tprovided\tby\t(used\tin)\toperating\tactivities:\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\nDepreciation,\tamortization\tand\timpairment\n\t\n\t\n2,154\n\t\n\t\n\t\n1,901\n\t\n\t\n\t\n1,636\n\t\nStock-based\tcompensation\n\t\n\t\n898\n\t\n\t\n\t\n749\n\t\n\t\n\t\n467\n\t\nAmortization\tof\tdebt\tdiscounts\tand\tissuance\tcosts\n\t\n\t\n188\n\t\n\t\n\t\n159\n\t\n\t\n\t\n91\n\t\nInventory\tand\tpurchase\tcommitments\twrite-downs\n\t\n\t\n193\n\t\n\t\n\t\n85\n\t\n\t\n\t\n132\n\t\nLoss\ton\tdisposals\tof\tfixed\tassets\n\t\n\t\n146\n\t\n\t\n\t\n162\n\t\n\t\n\t\n106\n\t\nForeign\tcurrency\ttransaction\t(gains)\tloss\n\t\n\t\n(\n48\n)\n\t\n\t\n(\n2\n)\n\t\n\t\n52\n\t\nLoss\trelated\tto\tSolarCity\tacquisition\n\t\n\t\n\u2014\n\t\n\t\n\t\n\u2014\n\t\n\t\n\t\n58\n\t\nNon-cash\tinterest\tand\tother\toperating\tactivities\n\t\n\t\n186\n\t\n\t\n\t\n49\n\t\n\t\n\t\n135\n\t\nOperating\tcash\tflow\trelated\tto\trepayment\tof\tdiscounted\tconvertible\tnotes\n\t\n\t\n("}


created_at: 2024-04-06 13:59:07
topic: persistent://default/default/19a10f6c-edf5-4774-8347-509021fad678
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{"source": "tesla-annual-reports/tsla-10k_20191231-gen_0.pdf", "page": 71, "chroma:document": "(\n188\n)\n\t\n\t\n\u2014\n\t\n\t\n\t\n\u2014\n\t\nChanges\tin\toperating\tassets\tand\tliabilities,\tnet\tof\teffect\tof\tbusiness\tcombinations:\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\nAccounts\treceivable\n\t\n\t\n(\n367\n)\n\t\n\t\n(\n497\n)\n\t\n\t\n(\n25\n)\nInventory\n\t\n\t\n(\n429\n)\n\t\n\t\n(\n1,023\n)\n\t\n\t\n(\n179\n)\nOperating\tlease\tvehicles\n\t\n\t\n(\n764\n)\n\t\n\t\n(\n215\n)\n\t\n\t\n(\n1,523\n)\nPrepaid\texpenses\tand\tother\tcurrent\tassets\n\t\n\t\n(\n288\n)\n\t\n\t\n(\n82\n)\n\t\n\t\n(\n72\n)\nOther\tnon-current\tassets\n\t\n\t\n115\n\t\n\t\n\t\n(\n207\n)\n\t\n\t\n(\n15\n)\nAccounts\tpayable\tand\taccrued\tliabilities\n\t\n\t\n682\n\t\n\t\n\t\n1,723\n\t\n\t\n\t\n388\n\t\nDeferred\trevenue\n\t\n\t\n801\n\t\n\t\n\t\n406\n\t\n\t\n\t\n469\n\t\nCustomer\tdeposits\n\t\n\t\n(\n58\n)\n\t\n\t\n(\n96\n)\n\t\n\t\n170\n\t\nResale\tvalue\tguarantee\n\t\n\t\n(\n150\n)\n\t\n\t\n(\n111\n)\n\t\n\t\n209\n\t\nOther\tlong-term\tliabilities\n\t\n\t\n109\n\t\n\t\n\t\n160\n\t\n\t\n\t\n81\n\t\nNet\tcash\tprovided\tby\t(used\tin)\toperating\tactivities\n\t\n\t\n2,405\n\t\n\t\n\t\n2,098\n\t\n\t\n\t\n(\n61\n)\nCash\tFlows\tfrom\tInvesting\tActivities"}


created_at: 2024-04-06 13:59:07
topic: persistent://default/default/19a10f6c-edf5-4774-8347-509021fad678
id: c5d6386a-f41d-11ee-a3fb-0242ac1c000c
encoding: FLOAT32
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{"source": "tesla-annual-reports/tsla-10k_20191231-gen_0.pdf", "page": 71, "chroma:document": "Purchases\tof\tproperty\tand\tequipment\texcluding\tfinance\tleases,\tnet\tof\tsales\n\t\n\t\n(\n1,327\n)\n\t\n\t\n(\n2,101\n)\n\t\n\t\n(\n3,415\n)\nPurchases\tof\tsolar\tenergy\tsystems\n\t\n\t\n(\n105\n)\n\t\n\t\n(\n218\n)\n\t\n\t\n(\n666\n)\nPurchase\tof\tintangible\tassets\n\t\n\t\n(\n5\n)\n\t\n\t\n\u2014\n\t\n\t\n\t\n\u2014\n\t\nReceipt\tof\tgovernment\tgrants\n\t\n\t\n46\n\t\n\t\n\t\n\u2014\n\t\n\t\n\t\n\u2014\n\t\nBusiness\tcombinations,\tnet\tof\tcash\tacquired\n\t\n\t\n(\n45\n)\n\t\n\t\n(\n18\n)\n\t\n\t\n(\n115\n)\nNet\tcash\tused\tin\tinvesting\tactivities\n\t\n\t\n(\n1,436\n)\n\t\n\t\n(\n2,337\n)\n\t\n\t\n(\n4,196\n)\nCash\tFlows\tfrom\tFinancing\tActivities\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\nProceeds\tfrom\tissuances\tof\tcommon\tstock\tin\tpublic\tofferings,\tnet\tof\tunderwriting\tdiscounts\n\t\n\t\n848\n\t\n\t\n\t\n\u2014\n\t\n\t\n\t\n400\n\t\nProceeds\tfrom\tissuances\tof\tconvertible\tand\tother\tdebt\n\t\n\t\n10,669\n\t\n\t\n\t\n6,176\n\t\n\t\n\t\n7,138\n\t\nRepayments\tof\tconvertible\tand\tother\tdebt\n\t\n\t\n(\n9,161\n)\n\t\n\t\n(\n5,247\n)\n\t\n\t\n(\n3,996\n)\nRepayments\tof\tborrowings\tissued\tto\trelated\tparties\n\t\n\t\n\u2014\n\t\n\t\n\t\n(\n100\n)\n\t\n\t\n(\n165\n)\nCollateralized\tlease\trepayments\n\t\n\t\n(\n389\n)\n\t\n\t\n(\n559"}


created_at: 2024-04-06 13:59:07
topic: persistent://default/default/19a10f6c-edf5-4774-8347-509021fad678
id: c5d638ec-f41d-11ee-a3fb-0242ac1c000c
encoding: FLOAT32
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{"source": "tesla-annual-reports/tsla-10k_20191231-gen_0.pdf", "page": 71, "chroma:document": "(\n389\n)\n\t\n\t\n(\n559\n)\n\t\n\t\n511\n\t\nProceeds\tfrom\texercises\tof\tstock\toptions\tand\tother\tstock\tissuances\n\t\n\t\n263\n\t\n\t\n\t\n296\n\t\n\t\n\t\n259\n\t\nPrincipal\tpayments\ton\tfinance\tleases\n\t\n\t\n(\n321\n)\n\t\n\t\n(\n181\n)\n\t\n\t\n(\n103\n)\nCommon\tstock\tand\tdebt\tissuance\tcosts\n\t\n\t\n(\n37\n)\n\t\n\t\n(\n15\n)\n\t\n\t\n(\n63\n)\nPurchase\tof\tconvertible\tnote\thedges\n\t\n\t\n(\n476\n)\n\t\n\t\n\u2014\n\t\n\t\n\t\n(\n204\n)\nProceeds\tfrom\tsettlement\tof\tconvertible\tnote\thedges\n\t\n\t\n\u2014\n\t\n\t\n\t\n\u2014\n\t\n\t\n\t\n287\n\t\nProceeds\tfrom\tissuance\tof\twarrants\n\t\n\t\n174\n\t\n\t\n\t\n\u2014\n\t\n\t\n\t\n53\n\t\nPayments\tfor\tsettlements\tof\twarrants\n\t\n\t\n\u2014\n\t\n\t\n\t\n\u2014\n\t\n\t\n\t\n(\n230\n)\nProceeds\tfrom\tinvestments\tby\tnoncontrolling\tinterests\tin\tsubsidiaries\n\t\n\t\n279\n\t\n\t\n\t\n437\n\t\n\t\n\t\n790\n\t\nDistributions\tpaid\tto\tnoncontrolling\tinterests\tin\tsubsidiaries\n\t\n\t\n(\n311\n)\n\t\n\t\n(\n227\n)\n\t\n\t\n(\n262\n)\nPayments\tfor\tbuy-outs\tof\tnoncontrolling\tinterests\tin\tsubsidiaries\n\t\n\t\n(\n9\n)\n\t\n\t\n(\n6\n)\n\t\n\t\n\u2014\n\t\nNet\tcash\tprovided\tby\tfinancing\tactivities\n\t\n\t\n1,529\n\t\n\t\n\t\n574\n\t\n\t\n\t\n4,415\n\t\nEffect\tof\texchange\trate\tchanges\ton\tcash\tand\tcash\tequivalents\tand\trestricted\tcash\n\t\n\t\n8"}


created_at: 2024-04-06 13:59:07
topic: persistent://default/default/19a10f6c-edf5-4774-8347-509021fad678
id: c5d63946-f41d-11ee-a3fb-0242ac1c000c
encoding: FLOAT32
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{"source": "tesla-annual-reports/tsla-10k_20191231-gen_0.pdf", "page": 71, "chroma:document": "8\n\t\n\t\n\t\n(\n23\n)\n\t\n\t\n40\n\t\nNet\tincrease\tin\tcash\tand\tcash\tequivalents\tand\trestricted\tcash\n\t\n\t\n2,506\n\t\n\t\n\t\n312\n\t\n\t\n\t\n198\n\t\nCash\tand\tcash\tequivalents\tand\trestricted\tcash,\tbeginning\tof\tperiod\n\t\n\t\n4,277\n\t\n\t\n\t\n3,965\n\t\n\t\n\t\n3,767\n\t\nCash\tand\tcash\tequivalents\tand\trestricted\tcash,\tend\tof\tperiod\n\t\n$\n6,783\n\t\n\t\n$\n4,277\n\t\n\t\n$\n3,965\n\t\nSupplemental\tNon-Cash\tInvesting\tand\tFinancing\tActivities\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\nEquity\tissued\tin\tconnection\twith\tbusiness\tcombination\n\t\n$\n207\n\t\n\t\n$\n\u2014\n\t\n\t\n$\n\u2014\n\t\nAcquisitions\tof\tproperty\tand\tequipment\tincluded\tin\tliabilities\n\t\n$\n562\n\t\n\t\n$\n249\n\t\n\t\n$\n914\n\t\nEstimated\tfair\tvalue\tof\tfacilities\tunder\tbuild-to-suit\tleases\n\t\n$\n\u2014\n\t\n\t\n$\n94\n\t\n\t\n$\n313\n\t\nSupplemental\tDisclosures\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\nCash\tpaid\tduring\tthe\tperiod\tfor\tinterest,\tnet\tof\tamounts\tcapitalized\n\t\n$\n455\n\t\n\t\n$\n381\n\t\n\t\n$\n183\n\t\nCash\tpaid\tduring\tthe\tperiod\tfor\ttaxes,\tnet\tof\trefunds\n\t\n$\n54\n\t\n\t\n$\n35\n\t\n\t\n$\n66\n\t\nThe\taccompanying\tnotes\tare\tan\tintegral\tpart\tof\tthese\tconsolidated\tfinancial\tstatements.\n\t\n69"}


created_at: 2024-04-06 13:59:07
topic: persistent://default/default/19a10f6c-edf5-4774-8347-509021fad678
id: c5d639a0-f41d-11ee-a3fb-0242ac1c000c
encoding: FLOAT32
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{"source": "tesla-annual-reports/tsla-10k_20191231-gen_0.pdf", "page": 72, "chroma:document": "Tesla,\tInc.\nNotes\tto\tConsolidated\tFinancial\tStatements\n\t\nNote\t1\t\u2013\tOverview\nTesla,\tInc.\t(\u201cTesla\u201d,\tthe\t\u201cCompany\u201d,\t\u201cwe\u201d,\t\u201cus\u201d\tor\t\u201cour\u201d)\twas\tincorporated\tin\tthe\tState\tof\tDelaware\ton\tJuly\t1,\t2003.\tWe\tdesign,\tdevelop,\nmanufacture\tand\tsell\thigh-performance\tfully\telectric\tvehicles\tand\tdesign,\tmanufacture,\tinstall\tand\tsell\tsolar\tenergy\tgeneration\tand\tenergy\tstorage\nproducts.\tOur\tChief\tExecutive\tOfficer,\tas\tthe\tchief\toperating\tdecision\tmaker\t(\u201cCODM\u201d),\torganizes\tthe\tCompany,\tmanages\tresource\tallocations\tand\nmeasures\tperformance\tamong\t\ntwo\n\toperating\tand\treportable\tsegments:\t(i)\tautomotive\tand\t(ii)\tenergy\tgeneration\tand\tstorage.\n\t\n\t\nNote\t2\t\u2013\tSummary\tof\tSignificant\tAccounting\tPolicies\nPrinciples\tof\tConsolidation\nThe\taccompanying\tconsolidated\tfinancial\tstatements\thave\tbeen\tprepared\tin\tconformity\twith\tU.S.\tgenerally\taccepted\taccounting\tprinciples\n(\u201cGAAP\u201d)\tand\treflect\tour\taccounts\tand\toperations\tand\tthose\tof\tour\tsubsidiaries\tin\twhich\twe\thave\ta\tcontrolling\tfinancial\tinterest.\tIn\taccordance\twith\tthe\nprovisions\tof\tAccounting\tStandards\tCodification\t(\u201cASC\u201d)\t810,\t\nConsolidation\n,\twe\tconsolidate\tany\tvariable\tinterest\tentity\t(\u201cVIE\u201d)\tof\twhich\twe\tare\tthe\nprimary\tbeneficiary.\tWe\tform\tVIEs\twith\tfinancing\tfund\tinvestors\tin\tthe\tordinary\tcourse\tof\tbusiness\tin\torder\tto\tfacilitate\tthe\tfunding\tand\tmonetization\tof\ncertain\tattributes\tassociated\twith\tsolar\tenergy\tsystems\tand\tleases\tunder\tour\tdirect\tvehicle\tleasing\tprograms.\tThe\ttypical\tcondition\tfor\ta\tcontrolling\nfinancial\tinterest\townership\tis\tholding\ta\tmajority\tof\tthe\tvoting\tinterests\tof\tan\tentity;\thowever,\ta\tcontrolling\tfinancial\tinterest\tmay\talso\texist\tin\tentities,"}


created_at: 2024-04-06 13:59:07
topic: persistent://default/default/19a10f6c-edf5-4774-8347-509021fad678
id: c5d639fa-f41d-11ee-a3fb-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "tesla-annual-reports/tsla-10k_20191231-gen_0.pdf", "page": 72, "chroma:document": "such\tas\tVIEs,\tthrough\tarrangements\tthat\tdo\tnot\tinvolve\tcontrolling\tvoting\tinterests.\tASC\t810\trequires\ta\tvariable\tinterest\tholder\tto\tconsolidate\ta\tVIE\tif\nthat\tparty\thas\tthe\tpower\tto\tdirect\tthe\tactivities\tof\tthe\tVIE\tthat\tmost\tsignificantly\timpact\tthe\tVIE\u2019s\teconomic\tperformance\tand\tthe\tobligation\tto\tabsorb\nlosses\tof\tthe\tVIE\tthat\tcould\tpotentially\tbe\tsignificant\tto\tthe\tVIE\tor\tthe\tright\tto\treceive\tbenefits\tfrom\tthe\tVIE\tthat\tcould\tpotentially\tbe\tsignificant\tto\tthe\nVIE.\tWe\tdo\tnot\tconsolidate\ta\tVIE\tin\twhich\twe\thave\ta\tmajority\townership\tinterest\twhen\twe\tare\tnot\tconsidered\tthe\tprimary\tbeneficiary.\tWe\thave\ndetermined\tthat\twe\tare\tthe\tprimary\tbeneficiary\tof\tall\tthe\tVIEs\t(see\tNote\t\n17\n,\t\nVariable\tInterest\tEntity\tArrangements\n).\tWe\tevaluate\tour\trelationships\twith\nall\tthe\tVIEs\ton\tan\tongoing\tbasis\tto\tensure\tthat\twe\tcontinue\tto\tbe\tthe\tprimary\tbeneficiary.\tAll\tintercompany\ttransactions\tand\tbalances\thave\tbeen\neliminated\tupon\tconsolidation.\nUse\tof\tEstimates\nThe\tpreparation\tof\tfinancial\tstatements\tin\tconformity\twith\tGAAP\trequires\tmanagement\tto\tmake\testimates\tand\tassumptions\tthat\taffect\tthe\treported\namounts\tof\tassets,\tliabilities\tand\tdisclosures\tin\tthe\taccompanying\tnotes.\tEstimates\tare\tused\tfor,\tbut\tnot\tlimited\tto,\tdetermining\tthe\ttransaction\tprice\tof\nproducts\tand\tservices\tin\tarrangements\twith\tmultiple\tperformance\tobligations\tand\tdetermining\tthe\tamortization\tperiod\tof\tthese\tobligations,\tsignificant\neconomic\tincentive\tfor\tresidual\tvalue\tguarantee\tarrangements,\tsales\treturn\treserves,\tthe\tcollectability\tof\taccounts\treceivable,\tinventory\tvaluation,\tfair\nvalue\tof\tlong-lived\tassets,\tgoodwill,\tfair\tvalue\tof\tfinancial\tinstruments,\tresidual\tvalue\tof\toperating\tlease\tvehicles,\tdepreciable\tlives\tof\tproperty\tand"}


created_at: 2024-04-06 13:59:07
topic: persistent://default/default/19a10f6c-edf5-4774-8347-509021fad678
id: c5d63a5e-f41d-11ee-a3fb-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "tesla-annual-reports/tsla-10k_20191231-gen_0.pdf", "page": 72, "chroma:document": "equipment\tand\tsolar\tenergy\tsystems,\tfair\tvalue\tand\tresidual\tvalue\tof\tsolar\tenergy\tsystems\tsubject\tto\tleases,\twarranty\tliabilities,\tincome\ttaxes,\ncontingencies,\tdetermining\tlease\tpass-through\tfinancing\tobligations,\tthe\tvaluation\tof\tbuild-to-suit\tlease\tassets,\tfair\tvalue\tof\tinterest\trate\tswaps\tand\tinputs\nused\tto\tvalue\tstock-based\tcompensation.\tIn\taddition,\testimates\tand\tassumptions\tare\tused\tfor\tthe\taccounting\tfor\tbusiness\tcombinations,\tincluding\tthe\tfair\nvalues\tand\tuseful\tlives\tof\tacquired\tassets,\tassumed\tliabilities\tand\tnoncontrolling\tinterests.\tManagement\tbases\tits\testimates\ton\thistorical\texperience\tand\ton\nvarious\tother\tassumptions\tbelieved\tto\tbe\treasonable,\tthe\tresults\tof\twhich\tform\tthe\tbasis\tfor\tmaking\tjudgments\tabout\tthe\tcarrying\tvalues\tof\tassets\tand\nliabilities.\tActual\tresults\tcould\tdiffer\tfrom\tthose\testimates.\n70"}


created_at: 2024-04-06 13:59:07
topic: persistent://default/default/19a10f6c-edf5-4774-8347-509021fad678
id: c5d63ab8-f41d-11ee-a3fb-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "tesla-annual-reports/tsla-10k_20191231-gen_0.pdf", "page": 73, "chroma:document": "Revenue\t\nRecognition\nAdoption\tof\tnew\taccounting\tstandards\nASU\t2014-09,\n\tRevenue\t-\tRevenue\tfrom\tContracts\twith\tCustome\nrs.\tOn\tJanuary\t1,\t2018,\twe\tadopted\tthe\tnew\taccounting\tstandard\tASC\t606,\nRevenue\tfrom\tContracts\twith\tCustomers\tand\tall\tthe\trelated\tamendments\t(\u201cnew\trevenue\tstandard\u201d)\tusing\tthe\tmodified\tretrospective\tmethod.\tAs\ta\tpolicy\nelection,\tthe\tnew\trevenue\tstandard\twas\tapplied\tonly\tto\tcontracts\tthat\twere\tnot\tsubstantially\tcompleted\tas\tof\tthe\tdate\tof\tadoption.\tWe\trecognized\tthe\ncumulative\teffect\tof\tinitially\tapplying\tthe\tnew\trevenue\tstandard\tas\tan\tadjustment\tto\tthe\tJanuary\t1,\t2018\topening\tbalance\tof\taccumulated\tdeficit.\tThe\nprior\tperiod\tconsolidated\tfinancial\tstatements\thave\tnot\tbeen\tretrospectively\tadjusted\tand\tcontinue\tto\tbe\treported\tunder\tthe\taccounting\tstandards\tin\neffect\tfor\tthose\tperiods.\nA\tmajority\tof\tour\tautomotive\tsales\trevenue\tis\trecognized\twhen\tcontrol\ttransfers\tupon\tdelivery\tto\tcustomers.\tFor\tcertain\tvehicle\tsales\twhere\nrevenue\twas\tpreviously\tdeferred\tas\tan\tin-substance\toperating\tlease,\tsuch\tas\tcertain\tvehicle\tsales\tto\tcustomers\tor\tleasing\tpartners\twith\ta\tresale\tvalue\nguarantee,\twe\trecognize\trevenue\twhen\tthe\tvehicles\tare\tdelivered\tas\ta\tsale\twith\ta\tright\tof\treturn.\tAs\ta\tresult,\tthe\tcorresponding\toperating\tlease\tasset,\ndeferred\trevenue,\tand\tresale\tvalue\tguarantee\tbalances\tas\tof\tDecember\t31,\t2017,\twere\treclassified\tto\taccumulated\tdeficit\tas\tpart\tof\tour\tadoption\tentry.\nFurthermore,\tthe\twarranty\tliability\trelated\tto\tsuch\tvehicles\thas\tbeen\taccrued\tas\ta\tresult\tof\tthe\tchange\tfrom\tin-substance\toperating\tleases\tto\tvehicle\nsales.\tPrepayments\ton\tcontracts\tthat\tcan\tbe\tcancelled\twithout\tsignificant\tpenalties,\tsuch\tas\tvehicle\tmaintenance\tplans,\thave\tbeen\treclassified\tfrom"}


created_at: 2024-04-06 13:59:07
topic: persistent://default/default/19a10f6c-edf5-4774-8347-509021fad678
id: c5d63b12-f41d-11ee-a3fb-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "tesla-annual-reports/tsla-10k_20191231-gen_0.pdf", "page": 73, "chroma:document": "deferred\trevenue\tto\tcustomer\tdeposits.\tRefer\tto\tthe\t\nAutomotive\tSales\tRevenue\n\tand\t\nAutomotive\tLeasing\tRevenue\n\tsections\tbelow\tfor\tfurther\tdiscussion\nof\tthe\timpact\ton\tvarious\tcategories\tof\tvehicle\tsales.\n\t\n\t\t\t\t\nAutomotive\tSegment\nAutomotive\tSales\tRevenue\nAutomotive\tSales\twithout\tResale\tValue\tGuarantee\nAutomotive\tsales\trevenue\tincludes\trevenues\trelated\tto\tdeliveries\tof\tnew\tvehicles\tand\tpay-per-use\tcharges,\tand\tspecific\tother\tfeatures\tand\nservices\tthat\tmeet\tthe\tdefinition\tof\ta\tperformance\tobligation\tunder\tthe\tnew\trevenue\tstandard,\tincluding\taccess\tto\tour\tSupercharger\tnetwork,\tinternet\nconnectivity,\tAutopilot,\tFull\tSelf-Driving\t(\u201cFSD\u201d)\tfeatures\tand\tover-the-air\tsoftware\tupdates.\tWe\trecognize\trevenue\ton\tautomotive\tsales\tupon\tdelivery\tto\nthe\tcustomer,\twhich\tis\twhen\tthe\tcontrol\tof\ta\tvehicle\ttransfers.\tPayments\tare\ttypically\treceived\tat\tthe\tpoint\tcontrol\ttransfers\tor\tin\taccordance\twith\npayment\tterms\tcustomary\tto\tthe\tbusiness.\tOther\tfeatures\tand\tservices\tsuch\tas\taccess\tto\tour\tSupercharger\tnetwork,\tinternet\tconnectivity\tand\tover-the-\nair\tsoftware\tupdates\tare\tprovisioned\tupon\tcontrol\ttransfer\tof\ta\tvehicle\tand\trecognized\tover\ttime\ton\ta\tstraight-line\tbasis\tas\twe\thave\ta\tstand-ready\nobligation\tto\tdeliver\tsuch\tservices\tto\tthe\tcustomer.\tWe\trecognize\trevenue\trelated\tto\tthese\tother\tfeatures\tand\tservices\tover\tthe\tperformance\tperiod,\nwhich\tis\tgenerally\tthe\texpected\townership\tlife\tof\tthe\tvehicle\tor\tthe\teight-year\tlife\tof\tthe\tvehicle.\tRevenue\trelated\tto\tAutopilot\tand\tFSD\tfeatures\tis\nrecognized\twhen\tfunctionality\tis\tdelivered\tto\tthe\tcustomer.\tFor\tour\tobligations\trelated\tto\tautomotive\tsales,\twe\testimate\tstandalone\tselling\tprice\tby\nconsidering\tcosts\tused\tto\tdevelop\tand\tdeliver\tthe\tservice,\tthird-party\tpricing\tof\tsimilar\toptions\tand\tother\tinformation\tthat\tmay\tbe\tavailable."}


created_at: 2024-04-06 13:59:07
topic: persistent://default/default/19a10f6c-edf5-4774-8347-509021fad678
id: c5d63b6c-f41d-11ee-a3fb-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "tesla-annual-reports/tsla-10k_20191231-gen_0.pdf", "page": 73, "chroma:document": "At\tthe\ttime\tof\trevenue\trecognition,\twe\treduce\tthe\ttransaction\tprice\tand\trecord\ta\tsales\treturn\treserve\tagainst\trevenue\tfor\testimated\tvariable\nconsideration\trelated\tto\tfuture\tproduct\treturns.\tSuch\testimates\tare\tbased\ton\thistorical\texperience\tand\tare\timmaterial\tin\tall\tperiods\tpresented.\tIn\naddition,\tany\tfees\tthat\tare\tpaid\tor\tpayable\tby\tus\tto\ta\tcustomer\u2019s\tlender\twhen\twe\tarrange\tthe\tfinancing\tare\trecognized\tas\tan\toffset\tagainst\tautomotive\nsales\trevenue.\nCosts\tto\tobtain\ta\tcontract\tmainly\trelate\tto\tcommissions\tpaid\tto\tour\tsales\tpersonnel\tfor\tthe\tsale\tof\tvehicles.\tCommissions\tare\tnot\tpaid\ton\tother\nobligations\tsuch\t\nas\n\t\naccess\tto\tour\tSupercharger\tnetwork,\tinternet\tconnectivity,\tAutopilot,\tFSD\tfeatures\tand\tover-the-air\tsoftware\tupdates.\n\tAs\tour\ncontract\tcosts\trelated\tto\tautomotive\tsales\tare\ttypically\tfulfilled\twithin\tone\tyear,\tthe\tcosts\tto\tobtain\ta\tcontract\tare\texpensed\tas\tincurred.\tAmounts\tbilled\nto\tcustomers\trelated\tto\tshipping\tand\thandling\tare\tclassified\tas\tautomotive\trevenue,\tand\twe\thave\telected\tto\trecognize\tthe\tcost\tfor\tfreight\tand\tshipping\nwhen\tcontrol\tover\tvehicles,\tparts,\tor\taccessories\thave\ttransferred\tto\tthe\tcustomer\tas\tan\texpense\tin\tcost\tof\trevenues.\tOur\tpolicy\tis\tto\texclude\ttaxes\ncollected\tfrom\ta\tcustomer\tfrom\tthe\ttransaction\tprice\tof\tautomotive\tcontracts.\n71"}


created_at: 2024-04-06 13:59:07
topic: persistent://default/default/19a10f6c-edf5-4774-8347-509021fad678
id: c5d63bd0-f41d-11ee-a3fb-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "tesla-annual-reports/tsla-10k_20191231-gen_0.pdf", "page": 74, "chroma:document": "Automotive\tSales\twith\tResale\tValue\tGuarantee\n\tor\ta\tBuyback\tOption\nWe\toffer\tresale\tvalue\tguarantees\tor\tsimilar\tbuy-back\tterms\tto\tcertain\tinternational\tcustomers\twho\tpurchase\tvehicles\tand\twho\tfinance\ttheir\nvehicles\tthrough\tone\tof\tour\tspecified\tcommercial\tbanking\tpartners.\tWe\talso\toffer\tresale\tvalue\tguarantees\tin\tconnection\twith\tautomotive\tsales\tto\tcertain\nleasing\tpartners.\tUnder\tthese\tprograms,\twe\treceive\tfull\tpayment\tfor\tthe\tvehicle\tsales\tprice\tat\tthe\ttime\tof\tdelivery\tand\tour\tcounterparty\thas\tthe\toption\nof\tselling\ttheir\tvehicle\tback\tto\tus\tduring\tthe\tguarantee\tperiod,\twhich\tcurrently\tis\tgenerally\tat\tthe\tend\tof\tthe\tterm\tof\tthe\tapplicable\tloan\tor\tfinancing\nprogram,\tfor\ta\tpre-determined\tresale\tvalue.\nWith\tthe\texception\tof\ttwo\tprograms\twhich\tare\tdiscussed\twithin\tthe\t\nAutomotive\tLeasing\n\tsection,\twe\trecognize\trevenue\twhen\tcontrol\ttransfers\nupon\tdelivery\tto\tcustomers\t\nin\taccordance\twith\tthe\tnew\trevenue\tstandard\t\nas\ta\tsale\twith\ta\tright\tof\treturn\tas\twe\tdo\tnot\tbelieve\tthe\tcustomer\thas\ta\nsignificant\teconomic\tincentive\tto\texercise\tthe\tresale\tvalue\tguarantee\tprovided\tto\tthem.\tThe\tprocess\tto\tdetermine\twhether\tthere\tis\ta\tsignificant\neconomic\tincentive\tincludes\ta\tcomparison\tof\ta\tvehicle\u2019s\testimated\tmarket\tvalue\tat\tthe\ttime\tthe\toption\tis\texercisable\twith\tthe\tguaranteed\tresale\tvalue\tto\ndetermine\tthe\tcustomer\u2019s\teconomic\tincentive\tto\texercise.\tThe\tperformance\tobligations\tand\tthe\tpattern\tof\trecognizing\tautomotive\tsales\twith\tresale\nvalue\tguarantees\tare\tconsistent\twith\tautomotive\tsales\twithout\tresale\tvalue\tguarantees\twith\tthe\texception\tof\tour\testimate\tfor\tsales\treturn\treserve.\tSales\nreturn\treserves\tfor\tautomotive\tsales\twith\tresale\tvalue\tguarantees\tare\testimated\tbased\ton\thistorical\texperience\tplus\tconsideration\tfor\texpected\tfuture\nmarket\tvalues."}


created_at: 2024-04-06 13:59:07
topic: persistent://default/default/19a10f6c-edf5-4774-8347-509021fad678
id: c5d63c2a-f41d-11ee-a3fb-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "tesla-annual-reports/tsla-10k_20191231-gen_0.pdf", "page": 74, "chroma:document": "market\tvalues.\t\nOn\ta\tquarterly\tbasis,\twe\tassess\tthe\testimated\tmarket\tvalues\tof\tvehicles\tunder\tour\tbuyback\toptions\tprogram\tto\tdetermine\twhether\tthere\nhave\tbeen\tchanges\tto\tthe\tlikelihood\tof\tfuture\tproduct\treturns.\tAs\twe\taccumulate\tmore\tdata\trelated\tto\tthe\tbuyback\tvalues\tof\tour\tvehicles\tor\tas\tmarket\nconditions\tchange,\tthere\tmay\tbe\tmaterial\tchanges\tto\ttheir\testimated\tvalues.\tDue\tto\tprice\tadjustments\twe\tmade\tto\tour\tvehicle\tofferings\tduring\t2019,\twe\nestimated\tthat\tthere\tis\ta\tgreater\tlikelihood\tthat\tcustomers\twill\texercise\ttheir\tbuyback\toptions\tthat\twere\tprovided\tprior\tto\tsuch\tadjustments.\tAs\ta\tresult,\nalong\twith\tthe\testimated\tvariable\tconsideration\trelated\tto\tnormal\tfuture\tproduct\treturns\tfor\tvehicles\tsold\tunder\tthe\tbuyback\toptions\tprogram,\twe\nadjusted\tour\tsales\treturn\treserve\ton\tvehicles\tpreviously\tsold\tunder\tour\tbuyback\toptions\tprogram\tresulting\tin\ta\treduction\tof\tautomotive\tsales\trevenues\nof\t$\n555\n\tmillion\tfor\tthe\tyear\tended\tDecember\t31,\t2019.\tIf\tcustomers\telect\tto\texercise\tthe\tbuyback\toption,\twe\texpect\tto\tbe\table\tto\tsubsequently\tresell\tthe\nreturned\tvehicles,\twhich\tresulted\tin\ta\tcorresponding\treduction\tin\tcost\tof\tautomotive\tsales\tof\t$\n451\n\tmillion\tfor\tthe\tyear\tended\tDecember\t31,\t2019.\tThe\nnet\timpact\twas\t$\n104\n\tmillion\treduction\tin\tgross\tprofit\tfor\tthe\tyear\tended\tDecember\t31,\t2019.\tThe\ttotal\tsales\treturn\treserve\ton\tvehicles\tpreviously\tsold\nunder\tour\tbuyback\toptions\tprogram\twas\t$\n639\n\tmillion\tas\tof\tDecember\t31,\t2019,\tof\twhich\t$\n93\n\tmillion\twas\tshort\tterm.\t\nThe\ttwo\tprograms\tthat\tare\tstill\nbeing\trecorded\tas\toperating\tleases\tare\tdiscussed\tin\tfurther\tdetail\tbelow\tin\t\nVehicle\tSales\tto\tLeasing\tPartners\twith\ta\tResale\tValue\tGuarantee\tand\ta"}


created_at: 2024-04-06 13:59:07
topic: persistent://default/default/19a10f6c-edf5-4774-8347-509021fad678
id: c5d63c84-f41d-11ee-a3fb-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "tesla-annual-reports/tsla-10k_20191231-gen_0.pdf", "page": 74, "chroma:document": "Buyback\tOption\n\tand\t\nVehicle\tSales\tto\tCustomers\twith\ta\tResale\tValue\tGuarantee\twhere\tExercise\tis\tProbable.\nPrior\tto\tthe\tadoption\tof\tthe\tnew\trevenue\tstandard,\tall\ttransactions\twith\tresale\tvalue\tguarantees\twere\trecorded\tas\toperating\tleases.\tThe\tamount\nof\tsale\tproceeds\tequal\tto\tthe\tresale\tvalue\tguarantee\twas\tdeferred\tuntil\tthe\tguarantee\texpired\tor\twas\texercised.\t\nFor\tcertain\ttransactions\tthat\twere\nconsidered\tinterest\tbearing\tcollateralized\tborrowings\tas\trequired\tunder\tASC\t840,\t\nLeases\n\tprior\tto\tJanuary\t1,\t2019,\twe\talso\taccrued\tinterest\texpense\nbased\ton\tour\tborrowing\trate.\t\nThe\tremaining\tsale\tproceeds\twere\tdeferred\tand\trecognized\ton\ta\tstraight-line\tbasis\tover\tthe\tstated\tguarantee\tperiod\tto\nautomotive\tleasing\trevenue.\tThe\tguarantee\tperiod\texpired\tat\tthe\tearlier\tof\tthe\tend\tof\tthe\tguarantee\tperiod\tor\tthe\tpay-off\tof\tthe\tinitial\tloan.\tWe\ncapitalized\tthe\tcost\tof\tthese\tvehicles\ton\tthe\tconsolidated\tbalance\tsheet\tas\toperating\tlease\tvehicles,\tnet,\tand\tdepreciated\ttheir\tvalue,\tless\testimated\nresidual\tvalue,\tto\tcost\tof\tautomotive\tleasing\trevenue\tover\tthe\tsame\tperiod.\nIn\tcases\twhere\tour\tcounterparty\tretained\townership\tof\tthe\tvehicle\tat\tthe\tend\tof\tthe\tguarantee\tperiod,\tthe\tresale\tvalue\tguarantee\tliability\tand\nany\tremaining\tdeferred\trevenue\tbalances\trelated\tto\tthe\tvehicle\twere\tsettled\tto\tautomotive\tleasing\trevenue,\tand\tthe\tnet\tbook\tvalue\tof\tthe\tleased\tvehicle\nwas\texpensed\tto\tcost\tof\tautomotive\tleasing\trevenue.\tIf\tour\tcounterparty\treturned\tthe\tvehicle\tto\tus\tduring\tthe\tguarantee\tperiod,\twe\tpurchased\tthe\nvehicle\tfrom\tour\tcounterparty\tin\tan\tamount\tequal\tto\tthe\tresale\tvalue\tguarantee\tand\tsettled\tany\tremaining\tdeferred\tbalances\tto\tautomotive\tleasing"}


created_at: 2024-04-06 13:59:07
topic: persistent://default/default/19a10f6c-edf5-4774-8347-509021fad678
id: c5d63cde-f41d-11ee-a3fb-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "tesla-annual-reports/tsla-10k_20191231-gen_0.pdf", "page": 74, "chroma:document": "revenue,\tand\twe\treclassified\tthe\tnet\tbook\tvalue\tof\tthe\tvehicle\ton\tthe\tconsolidated\tbalance\tsheet\tto\tused\tvehicle\tinventory.\n72"}


created_at: 2024-04-06 13:59:07
topic: persistent://default/default/19a10f6c-edf5-4774-8347-509021fad678
id: c5d63d42-f41d-11ee-a3fb-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "tesla-annual-reports/tsla-10k_20191231-gen_0.pdf", "page": 75, "chroma:document": "Deferred\trevenue\tactivity\trelated\tto\tthe\taccess\tto\tour\tSupercharger\tnetwork,\tinternet\tconnectivity,\tAutopilot,\tFSD\tfeatures\tand\tover-the-air\nsoftware\tupdates\ton\tautomotive\tsales\twith\tand\twithout\tresale\tvalue\tguarantee\tconsisted\tof\tthe\tfollowing\t(in\tmillions):\n\t\n\t\n\t\nYear\tended\tDecember\t31,\n\t\n\t\n\t\n2019\n\t\n\t\n2018\n\t\nDeferred\trevenue\ton\tautomotive\tsales\twith\tand\twithout\n\t\t\tresale\tvalue\tguarantee\u2014\tbeginning\tof\tperiod\n\t\n$\n883\n\t\n\t\n$\n476\n\t\nAdditions\n\t\n\t\n880\n\t\n\t\n\t\n532\n\t\nNet\tchanges\tin\tliability\tfor\tpre-existing\tcontracts\n\t\n\t\n9\n\t\n\t\n\t\n(\n13\n)\nRevenue\trecognized\n\t\n\t\n(\n300\n)\n\t\n\t\n(\n112\n)\nDeferred\trevenue\ton\tautomotive\tsales\twith\tand\twithout\n\t\t\tresale\tvalue\tguarantee\u2014\tend\tof\tperiod\n\t\n$\n1,472\n\t\n\t\n$\n883\n\t\nDeferred\trevenue\tis\tequivalent\tto\tthe\ttotal\ttransaction\tprice\tallocated\tto\tthe\tperformance\tobligations\tthat\tare\tunsatisfied,\tor\tpartially\nunsatisfied,\tas\tof\tDecember\t31,\t2019.\tFrom\tthe\tdeferred\trevenue\tbalance\tas\tof\tDecember\t31,\t2018,\trevenue\trecognized\tduring\tthe\tyear\tended\nDecember\t31,\t2019\twas\t$\n220\n\t\tmillion.\t\nFrom\tthe\tdeferred\trevenue\tbalance\tas\tof\tJanuary\t1,\t2018,\trevenue\trecognized\tduring\tthe\tyear\tended\nDecember\t31,\t2018\twas\t$\n81\n\tmillion.\t\nOf\tthe\ttotal\tdeferred\trevenue\ton\tautomotive\tsales\twith\tand\twithout\tresale\tvalue\tguarantees\tas\tof\tDecember\t31,\n2019,\twe\texpect\tto\trecognize\t$\n751\n\tmillion\tof\trevenue\tin\tthe\tnext\t12\tmonths.\tThe\tremaining\tbalance\twill\tbe\trecognized\tover\tthe\tperformance\tperiod\tas\ndiscussed\tabove\tin"}


created_at: 2024-04-06 13:59:07
topic: persistent://default/default/19a10f6c-edf5-4774-8347-509021fad678
id: c5d63d9c-f41d-11ee-a3fb-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "tesla-annual-reports/tsla-10k_20191231-gen_0.pdf", "page": 75, "chroma:document": "discussed\tabove\tin\t\nAutomotive\tSales\twithout\tResale\tValue\tGuarantee\n.\nAutomotive\tRegulatory\tCredits\nIn\tconnection\twith\tthe\tproduction\tand\tdelivery\tof\tour\tzero\temission\tvehicles\tin\tglobal\tmarkets,\twe\thave\tearned\tand\twill\tcontinue\tto\tearn\tvarious\ntradable\tautomotive\tregulatory\tcredits.\tWe\thave\tsold\tthese\tcredits,\tand\twill\tcontinue\tto\tsell\tfuture\tcredits,\tto\tautomotive\tcompanies\tand\tother\tregulated\nentities\twho\tcan\tuse\tthe\tcredits\tto\tcomply\twith\temission\tstandards\tand\tother\tregulatory\trequirements.\tFor\texample,\tunder\tCalifornia\u2019s\tZero\tEmission\nVehicle\tRegulation\tand\tthose\tof\tstates\tthat\thave\tadopted\tCalifornia\u2019s\tstandard,\tvehicle\tmanufacturers\tare\trequired\tto\tearn\tor\tpurchase\tcredits,\treferred\nto\tas\tZEV\tcredits,\tfor\tcompliance\twith\ttheir\tannual\tregulatory\trequirements.\tThese\tlaws\tprovide\tthat\tautomakers\tmay\tbank\tor\tsell\tto\tother\tregulated\nparties\ttheir\texcess\tcredits\tif\tthey\tearn\tmore\tcredits\tthan\tthe\tminimum\tquantity\trequired\tby\tthose\tlaws.\tWe\talso\tearn\tother\ttypes\tof\tsaleable\tregulatory\ncredits\tin\tthe\tUnited\tStates\tand\tabroad,\tincluding\tgreenhouse\tgas,\tfuel\teconomy\tand\tclean\tfuels\tcredits.\t\nPayments\tfor\tregulatory\tcredits\tare\ttypically\nreceived\tat\tthe\tpoint\tcontrol\ttransfers\tto\tthe\tcustomer,\tor\tin\taccordance\twith\tpayment\tterms\tcustomary\tto\tthe\tbusiness.\nWe\trecognize\trevenue\ton\tthe\tsale\tof\tautomotive\tregulatory\tcredits\tat\tthe\ttime\tcontrol\tof\tthe\tregulatory\tcredits\tis\ttransferred\tto\tthe\tpurchasing\nparty\tas\tautomotive\trevenue\tin\tthe\tconsolidated\tstatements\tof\toperations.\tRevenue\tfrom\tthe\tsale\tof\tautomotive\tregulatory\tcredits\ttotaled\t$\n594\n\tmillion,\n$\n419\n\tmillion\tand\t$\n360\n\tmillion\tfor\tthe\tyears\tended\tDecember\t31,\t2019,\t2018\tand\t2017,\trespectively.\t\t\nDeferred\trevenue\trelated\tto\tsales\tof\tautomotive"}


created_at: 2024-04-06 13:59:07
topic: persistent://default/default/19a10f6c-edf5-4774-8347-509021fad678
id: c5d63df6-f41d-11ee-a3fb-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "tesla-annual-reports/tsla-10k_20191231-gen_0.pdf", "page": 75, "chroma:document": "Deferred\trevenue\trelated\tto\tsales\tof\tautomotive\nregulatory\tcredits\twas\t$\n140\n\tmillion\tand\t$\n0\n\tas\tof\t\nDecember\t31,\t2019\n\tand\t2018,\trespectively.\tWe\texpect\tto\trecognize\tthe\tdeferred\trevenue\tas\tof\nDecember\t31,\t2019\tin\tthe\tnext\t\n12\n\tmonths.\nAutomotive\tLeasing\tRevenue\nAutomotive\tleasing\trevenue\tincludes\trevenue\trecognized\tunder\tlease\taccounting\tguidance\tfor\tour\tdirect\tleasing\tprograms\tas\twell\tas\tthe\ttwo\nprograms\twith\tresale\tvalue\tguarantees\n\twhich\tcontinue\tto\tqualify\tfor\toperating\tlease\ttreatment.\tPrior\tto\tthe\tadoption\tof\tthe\tnew\trevenue\tstandard,\tall\nprograms\twith\tresale\tvalue\tguarantees\twere\taccounted\tfor\tas\toperating\tleases\n.\n73"}


created_at: 2024-04-06 13:59:07
topic: persistent://default/default/19a10f6c-edf5-4774-8347-509021fad678
id: c5d63e5a-f41d-11ee-a3fb-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "tesla-annual-reports/tsla-10k_20191231-gen_0.pdf", "page": 76, "chroma:document": "Direct\tVehicle\tLeasing\tProgram\nWe\thave\toutstanding\tleases\tunder\tour\tdirect\tvehicle\tleasing\tprograms\tin\tthe\tU.S.,\tCanada\tand\tin\tcertain\tcountries\tin\tEurope.\tAs\tof\tDecember\n31,\t2019,\tthe\tdirect\tvehicle\tleasing\tprogram\tis\toffered\tfor\tall\tnew\tModel\tS,\tModel\tX\tand\tModel\t3\tvehicles\tin\tthe\tU.S.\tand\tfor\tnew\tModel\tS\tand\tModel\tX\nvehicles\tin\tCanada.\tQualifying\tcustomers\tare\tpermitted\tto\tlease\ta\tvehicle\tdirectly\tfrom\tTesla\tfor\tup\tto\t\n48\n\tmonths.\tAt\tthe\tend\tof\tthe\tlease\tterm,\ncustomers\tare\trequired\tto\treturn\tthe\tvehicles\tto\tus\tor\tfor\tModel\tS\tand\tModel\tX\tleases,\tmay\topt\tto\tpurchase\tthe\tvehicles\tfor\ta\tpre-determined\tresidual\nvalue.\t\nWe\taccount\tfor\tthese\tleasing\ttransactions\tas\toperating\tleases.\tWe\trecord\tleasing\trevenues\tto\t\nautomotive\tleasing\trevenue\n\ton\ta\tstraight-line\tbasis\nover\tthe\tcontractual\tterm,\tand\twe\trecord\tthe\tdepreciation\tof\tthese\tvehicles\tto\tcost\tof\tautomotive\tleasing\trevenue.\tFor\tthe\tyears\tended\tDecember\t31,\n2019,\t2018\tand\t2017\t,\twe\trecognized\t\t$\n532\n\tmillion,\t$\n393\n\tmillion\tand\t$\n221\n\tmillion\tof\tdirect\tvehicle\tleasing\trevenue,\trespectively\t.\tAs\tof\tDecember\t31,\n2019\tand\t2018,\twe\thad\tdeferred\t$\n218\n\tmillion\tand\t$\n110\n\tmillion,\trespectively,\tof\tlease-related\tupfront\tpayments,\twhich\twill\tbe\trecognized\ton\ta\tstraight-\nline\tbasis\tover\tthe\tcontractual\tterms\tof\tthe\tindividual\tleases.\nWe\n\tcapitalize\tshipping\tcosts\tand\tinitial\tdirect\tcosts\tsuch\tas\tthe\tincremental\tcost\tof\treferral\tfees\tand\tsales\tcommissions\tfrom\tthe\torigination\tof\nautomotive\tlease\tagreements\tas\tan\telement\tof\toperating\tlease\tvehicles,\tnet,\tand\tsubsequently\tamortize\tthese\tcosts\tover\tthe\tterm\tof\tthe\trelated\tlease"}


created_at: 2024-04-06 13:59:07
topic: persistent://default/default/19a10f6c-edf5-4774-8347-509021fad678
id: c5d63eb4-f41d-11ee-a3fb-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "tesla-annual-reports/tsla-10k_20191231-gen_0.pdf", "page": 76, "chroma:document": "agreement.\tOur\tpolicy\tis\tto\texclude\ttaxes\tcollected\tfrom\ta\tcustomer\tfrom\tthe\ttransaction\tprice\tof\tautomotive\tcontracts.\tTotal\tcapitalized\tcosts\twere\nimmaterial\tas\tof\tDecember\t31,\t2019\tand\t2018.\nVehicle\tSales\tto\tLeasing\tPartners\twith\ta\tResale\tValue\tGuarantee\tand\ta\tBuyback\tOption\nWe\toffer\tbuyback\toptions\tin\tconnection\twith\tautomotive\tsales\twith\tresale\tvalue\tguarantees\twith\tcertain\tleasing\tpartner\tsales\tin\tthe\tUnited\nStates.\tThese\ttransactions\tentail\ta\ttransfer\tof\tleases,\twhich\twe\thave\toriginated\twith\tan\tend-customer,\tto\tour\tleasing\tpartner.\tAs\tcontrol\tof\tthe\tvehicles\nhas\tnot\tbeen\ttransferred\t\nin\taccordance\twith\tthe\tnew\trevenue\tstandard\n,\tthese\ttransactions\twere\taccounted\tfor\tas\tinterest\tbearing\tcollateralized\nborrowings\tin\taccordance\twith\tASC\t840,\t\nLeases\n,\tprior\tto\tJanuary\t1,\t2019.\tUnder\tthis\tprogram,\tcash\tis\treceived\tfor\tthe\tfull\tprice\tof\tthe\tvehicle\tand\tthe\ncollateralized\tborrowing\tvalue\tis\tgenerally\trecorded\twithin\tresale\tvalue\tguarantees\tand\tthe\tcustomer\tupfront\tdown\tpayment\tis\trecorded\twithin\ndeferred\trevenue.\tWe\tamortize\tthe\tdeferred\trevenue\tamount\tto\tautomotive\tleasing\trevenue\ton\ta\tstraight-line\tbasis\tover\tthe\toption\tperiod\tand\taccrue\ninterest\texpense\tbased\ton\tour\tborrowing\trate.\tThe\toption\tperiod\texpires\tat\tthe\tearlier\tof\tthe\tend\tof\tthe\tcontractual\toption\tperiod\tor\tthe\tpay-off\tof\tthe\ninitial\tloan.\tWe\tcapitalize\tvehicles\tunder\tthis\tprogram\tto\toperating\tlease\tvehicles,\tnet,\ton\tthe\tconsolidated\tbalance\tsheets,\tand\twe\trecord\tdepreciation\nfrom\tthese\tvehicles\tto\tcost\tof\tautomotive\tleasing\trevenue\tduring\tthe\tperiod\tthe\tvehicle\tis\tunder\ta\tlease\tarrangement.\tCash\treceived\tfor\tthese\tvehicles,"}


created_at: 2024-04-06 13:59:07
topic: persistent://default/default/19a10f6c-edf5-4774-8347-509021fad678
id: c5d63f18-f41d-11ee-a3fb-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "tesla-annual-reports/tsla-10k_20191231-gen_0.pdf", "page": 76, "chroma:document": "net\tof\trevenue\trecognized\tduring\tthe\tperiod,\tis\tclassified\tas\tcollateralized\tlease\t(repayments)\tborrowings\twithin\tcash\tflows\tfrom\tfinancing\tactivities\tin\nthe\tconsolidated\tstatements\tof\tcash\tflows.\tFollowing\tthe\tadoption\tof\tASC\t842\ton\tJanuary\t1,\t2019,\tall\tnew\tagreements\tunder\tthis\tprogram\tare\taccounted\nfor\tas\toperating\tleases\tand\tthere\twas\tno\tmaterial\tchange\tin\tthe\ttiming\tand\tamount\tof\trevenue\trecognized\tover\tthe\tterm.\tConsequently,\tany\tcash\tflows\nfor\tnew\tagreements\tare\tclassified\tas\toperating\tcash\tactivities\ton\tthe\tconsolidated\tstatements\tof\tcash\tflows.\nAt\tthe\tend\tof\tthe\tlease\tterm,\twe\tsettle\tour\tliability\tin\tcash\tby\teither\tpurchasing\tthe\tvehicle\tfrom\tthe\tleasing\tpartner\tfor\tthe\tbuyback\toption\namount\tor\tpaying\ta\tshortfall\tto\tthe\toption\tamount\tthe\tleasing\tpartner\tmay\trealize\ton\tthe\tsale\tof\tthe\tvehicle.\tAny\tremaining\tbalances\twithin\tdeferred\nrevenue\tand\tresale\tvalue\tguarantee\twill\tbe\tsettled\tto\tautomotive\tleasing\trevenue.\t\nThe\tend\tcustomers\tcan\textend\tthe\tlease\tfor\ta\tperiod\tof\tup\tto\t6\nmonths.\t\nIn\tcases\twhere\tthe\tleasing\tpartner\tretains\townership\tof\tthe\tvehicle\tafter\tthe\tend\tof\tour\toption\tperiod,\twe\texpense\tthe\tnet\tvalue\tof\tthe\tleased\nvehicle\tto\tcost\tof\tautomotive\tleasing\trevenue\n.\tThe\tmaximum\tamount\twe\tcould\tbe\trequired\tto\tpay\tunder\tthis\tprogram,\tshould\twe\tdecide\tto\trepurchase\nall\tvehicles,\twas\n\t\n\t$\n214\n\tmillion\tand\t$\n480\n\tmillion\tas\tof\tDecember\t31,\t2019\tand\t2018,\trespectively,\tincluding\t$\n178\n\t\t\nmillion\twithin\ta\t12-month\tperiod\tfrom\nDecember\t31,\t2019.\n\t\nAs\tof\tDecember\t31,\t2019\tand\t2018\n,\n\twe\thad\t$\n238\n\t\tmillion\n\tand\t$\n558"}


created_at: 2024-04-06 13:59:07
topic: persistent://default/default/19a10f6c-edf5-4774-8347-509021fad678
id: c5d63f68-f41d-11ee-a3fb-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "tesla-annual-reports/tsla-10k_20191231-gen_0.pdf", "page": 76, "chroma:document": "238\n\t\tmillion\n\tand\t$\n558\n\tmillion,\trespectively,\tof\tsuch\tborrowings\trecorded\tin\tresale\nvalue\tguarantees\tand\t$\n29\n\t\t\nmillion\tand\t$\n93\n\tmillion,\trespectively,\trecorded\tin\tdeferred\trevenue\tliability.\n\tFor\tthe\tyear\tended\tDecember\t31,\t2019\tand\n2018,\twe\trecognized\t\t$\n186\n\t\tmillion\tand\t$\n332\n\tmillion,\trespectively,\tof\tleasing\trevenue\trelated\tto\tthis\tprogram.\tThe\tnet\tcarrying\tamount\tof\toperating\nlease\tvehicles\tunder\tthis\tprogram\twas\t$\n190\n\tmillion\tand\t$\n469\n\tmillion,\trespectively,\tas\tof\tDecember\t31,\t2019\tand\t2018.\n74"}


created_at: 2024-04-06 13:59:07
topic: persistent://default/default/19a10f6c-edf5-4774-8347-509021fad678
id: c5d63fcc-f41d-11ee-a3fb-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "tesla-annual-reports/tsla-10k_20191231-gen_0.pdf", "page": 77, "chroma:document": "Vehicle\n\tS\nales\n\tto\tCustomers\twith\ta\tResale\tValue\tGuarantee\twhere\tExercise\tis\tProbable\nFor\tcertain\tinternational\tprograms\twhere\twe\thave\toffered\tresale\tvalue\tguarantees\tto\tcertain\tcustomers\twho\tpurchased\tvehicles\tand\twhere\twe\nexpect\tthe\tcustomer\thas\ta\tsignificant\teconomic\tincentive\tto\texercise\tthe\tresale\tvalue\tguarantee\tprovided\tto\tthem,\twe\tcontinue\tto\trecognize\tthese\ntransactions\tas\toperating\tleases.\tThe\tprocess\tto\tdetermine\twhether\tthere\tis\ta\tsignificant\teconomic\tincentive\tincludes\ta\tcomparison\tof\ta\tvehicle\u2019s\nestimated\tmarket\tvalue\tat\tthe\ttime\tthe\toption\tis\texercisable\twith\tthe\tguaranteed\tresale\tvalue\tto\tdetermine\tthe\tcustomer\u2019s\teconomic\tincentive\tto\nexercise.\tWe\thave\tnot\tsold\tany\tvehicles\tunder\tthis\tprogram\tsince\tthe\tfirst\thalf\tof\t2017\tand\tall\tcurrent\tperiod\tactivity\trelates\tto\tthe\texercise\tor\ncancellation\tof\tactive\ttransactions.\tThe\tamount\tof\tsale\tproceeds\tequal\tto\tthe\tresale\tvalue\tguarantee\tis\tdeferred\tuntil\tthe\tguarantee\texpires\tor\tis\nexercised.\tThe\tremaining\tsale\tproceeds\tare\tdeferred\tand\trecognized\ton\ta\tstraight-line\tbasis\tover\tthe\tstated\tguarantee\tperiod\tto\tautomotive\tleasing\nrevenue.\tThe\tguarantee\tperiod\texpires\tat\tthe\tearlier\tof\tthe\tend\tof\tthe\tguarantee\tperiod\tor\tthe\tpay-off\tof\tthe\tinitial\tloan.\tWe\tcapitalize\tthe\tcost\tof\tthese\nvehicles\ton\tthe\tconsolidated\tbalance\tsheet\tas\toperating\tlease\tvehicles,\tnet,\tand\tdepreciate\ttheir\tvalue,\tless\tsalvage\tvalue,\tto\tcost\tof\tautomotive\tleasing\nrevenue\tover\tthe\tsame\tperiod.\nIn\tcases\twhere\ta\tcustomer\tretains\townership\tof\ta\tvehicle\tat\tthe\tend\tof\tthe\tguarantee\tperiod,\tthe\tresale\tvalue\tguarantee\tliability\tand\tany\nremaining\tdeferred\trevenue\tbalances\trelated\tto\tthe\tvehicle\tare\tsettled\tto\tautomotive\tleasing\trevenue,\tand\tthe\tnet\tbook\tvalue\tof\tthe\tleased\tvehicle\tis"}


created_at: 2024-04-06 13:59:07
topic: persistent://default/default/19a10f6c-edf5-4774-8347-509021fad678
id: c5d64026-f41d-11ee-a3fb-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "tesla-annual-reports/tsla-10k_20191231-gen_0.pdf", "page": 77, "chroma:document": "expensed\tto\tcost\tof\tautomotive\tleasing\trevenue.\tIf\ta\tcustomer\treturns\tthe\tvehicle\tto\tus\tduring\tthe\tguarantee\tperiod,\twe\tpurchase\tthe\tvehicle\tfrom\tthe\ncustomer\tin\tan\tamount\tequal\tto\tthe\tresale\tvalue\tguarantee\tand\tsettle\tany\tremaining\tdeferred\tbalances\tto\tautomotive\tleasing\trevenue,\tand\twe\treclassify\nthe\tnet\tbook\tvalue\tof\tthe\tvehicle\ton\tthe\tconsolidated\tbalance\tsheets\tto\tused\tvehicle\tinventory.\tAs\tof\tDecember\t31,\t2019\tand\t2018,\t$\n115\n\t\tmillion\tand\n$\n150\n\tmillion,\trespectively,\tof\tthe\tguarantees\twere\texercisable\tby\tcustomers\twithin\tthe\tnext\t12\tmonths.\tFor\tthe\tyear\tended\tDecember\t31,\t2019\tand\n2018,\twe\trecognized\t$\n150\n\t\t\tmillion\tand\t$\n158\n\tmillion,\trespectively,\tof\tleasing\trevenue\trelated\tto\tthis\tprogram.\t\nThe\tnet\tcarrying\tamount\tof\toperating\nlease\tvehicles\tunder\tthis\tprogram\twas\t$\n83\n\tmillion\tand\t$\n212\n\tmillion,\trespectively,\tas\tof\tDecember\t31,\t2019\tand\t2018.\nServices\tand\tOther\tRevenue\nServices\tand\tother\trevenue\tconsists\tof\tnon-warranty\tafter-sales\tvehicle\tservices,\tsales\tof\tused\tvehicles,\tretail\tmerchandise,\tsales\tby\tour\nacquired\tsubsidiaries\tto\tthird\tparty\tcustomers,\tand\tvehicle\tinsurance\trevenue.\t\nThere\twere\tno\tsignificant\tchanges\tto\tthe\ttiming\tor\tamount\tof\trevenue\nrecognition\tas\ta\tresult\tof\tour\tadoption\tof\tthe\tnew\trevenue\tstandard.\nRevenues\trelated\tto\trepair\tand\tmaintenance\tservices\tare\trecognized\tover\ttime\tas\tservices\tare\tprovided\tand\textended\tservice\tplans\tare\nrecognized\tover\tthe\tperformance\tperiod\tof\tthe\tservice\tcontract\tas\tthe\tobligation\trepresents\ta\tstand-ready\tobligation\tto\tthe\tcustomer.\tWe\tsell\tused"}


created_at: 2024-04-06 13:59:07
topic: persistent://default/default/19a10f6c-edf5-4774-8347-509021fad678
id: c5d6408a-f41d-11ee-a3fb-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "tesla-annual-reports/tsla-10k_20191231-gen_0.pdf", "page": 77, "chroma:document": "vehicles,\tservices,\tservice\tplans,\tvehicle\tcomponents\tand\tmerchandise\tseparately\tand\tthus\tuse\tstandalone\tselling\tprices\tas\tthe\tbasis\tfor\trevenue\nallocation\tto\tthe\textent\tthat\tthese\titems\tare\tsold\tin\ttransactions\twith\tother\tperformance\tobligations.\tPayment\tfor\tused\tvehicles,\tservices,\tand\nmerchandise\tare\ttypically\treceived\tat\tthe\tpoint\twhen\tcontrol\ttransfers\tto\tthe\tcustomer\tor\tin\taccordance\twith\tpayment\tterms\tcustomary\tto\tthe\tbusiness.\nPayments\treceived\tfor\tprepaid\tplans\tare\trefundable\tupon\tcustomer\tcancellation\tof\tthe\trelated\tcontracts\tand\tare\tincluded\twithin\tcustomer\tdeposits\ton\nthe\tconsolidated\tbalance\tsheet.\tDeferred\trevenue\trelated\tto\tservices\tand\tother\trevenue\twas\timmaterial\tas\tof\tDecember\t31,\t2019\tand\t2018.\n\t\n75"}


created_at: 2024-04-06 13:59:07
topic: persistent://default/default/19a10f6c-edf5-4774-8347-509021fad678
id: c5d640e4-f41d-11ee-a3fb-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "tesla-annual-reports/tsla-10k_20191231-gen_0.pdf", "page": 78, "chroma:document": "Energy\tGeneration\tand\tStorage\tSegment\nEnergy\tGeneration\tand\tStorage\tSales\nEnergy\tgeneration\tand\tstorage\tsales\trevenue\tconsists\tof\tthe\tsale\tof\tsolar\tenergy\tsystems\tand\tenergy\tstorage\tsystems\tto\tresidential,\tsmall\ncommercial,\tand\tlarge\tcommercial\tand\tutility\tgrade\tcustomers.\tUpon\tadoption\tof\tthe\tnew\tlease\tstandard\t(refer\tto\t\nLeases\t\nsection\tbelow\tfor\tdetails),\nenergy\tgeneration\tand\tstorage\tsales\trevenue\tincludes\tagreements\tfor\tsolar\tenergy\tsystems\tand\tpower\tpurchase\tagreements\t(\u201cPPAs\u201d)\tthat\tcommence\nafter\tJanuary\t1,\t2019,\tas\tthese\tare\tnow\taccounted\tfor\tunder\tthe\tnew\trevenue\tstandard.\tSales\tof\tsolar\tenergy\tsystems\tto\tresidential\tand\tsmall\tscale\ncommercial\tcustomers\tconsist\tof\tthe\tengineering,\tdesign,\tand\tinstallation\tof\tthe\tsystem.\tPost\tinstallation,\tresidential\tand\tsmall\tscale\tcommercial\ncustomers\treceive\ta\tproprietary\tmonitoring\tsystem\tthat\tcaptures\tand\tdisplays\thistorical\tenergy\tgeneration\tdata.\tResidential\tand\tsmall\tscale\tcommercial\ncustomers\tpay\tthe\tfull\tpurchase\tprice\tof\tthe\tsolar\tenergy\tsystem\tupfront.\tRevenue\tfor\tthe\tdesign\tand\tinstallation\tobligation\tis\trecognized\twhen\tcontrol\ntransfers,\twhich\tis\twhen\twe\tinstall\ta\tsolar\tenergy\tsystem\tand\tthe\tsystem\tpasses\tinspection\tby\tthe\tutility\tor\tthe\tauthority\thaving\tjurisdiction.\tRevenue\nfor\tthe\tmonitoring\tservice\tis\trecognized\tratably\tas\ta\tstand-ready\tobligation\tover\tthe\twarranty\tperiod\tof\tthe\tsolar\tenergy\tsystem.\t\nSales\tof\tenergy\tstorage\nsystems\tto\tresidential\tand\tsmall\tscale\tcommercial\tcustomers\tconsist\tof\tthe\tinstallation\tof\tthe\tenergy\tstorage\tsystem\tand\trevenue\tis\trecognized\twhen\ncontrol\ttransfers,\twhich\tis\twhen\tthe\tproduct\thas\tbeen\tdelivered\tor,\tif\twe\tare\tperforming\tinstallation,\twhen\tinstalled\tand\tcommissioned.\tPayment\tfor\nsuch\tstorage\tsystems\tis\tmade\tupon\tinvoice\tor\tin\taccordance\twith\tpayment\tterms\tcustomary\tto\tthe\tbusiness."}


created_at: 2024-04-06 13:59:07
topic: persistent://default/default/19a10f6c-edf5-4774-8347-509021fad678
id: c5d6413e-f41d-11ee-a3fb-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "tesla-annual-reports/tsla-10k_20191231-gen_0.pdf", "page": 78, "chroma:document": "For\tlarge\tcommercial\tand\tutility\tgrade\tsolar\tenergy\tsystem\tand\tenergy\tstorage\tsystem\tsales\twhich\tconsist\tof\tthe\tengineering,\tdesign,\tand\ninstallation\tof\tthe\tsystem,\tcustomers\tmake\tmilestone\tpayments\tthat\tare\tconsistent\twith\tcontract-specific\tphases\tof\ta\tproject.\tRevenue\tfrom\tsuch\ncontracts\tis\trecognized\tover\ttime\tusing\tthe\tpercentage\tof\tcompletion\tmethod\tbased\ton\tcost\tincurred\tas\ta\tpercentage\tof\ttotal\testimated\tcontract\tcosts\nfor\tenergy\tstorage\tsystem\tsales\tand\tas\ta\tpercentage\tof\ttotal\testimated\tlabor\thours\tfor\tsolar\tenergy\tsystem\tsales\n.\tCertain\tlarge-scale\tcommercial\tand\nutility\tgrade\tsolar\tenergy\tsystem\tand\tenergy\tstorage\tsystem\tsales\talso\tinclude\toperations\tand\tmaintenance\tservice\twhich\tare\tnegotiated\twith\tthe\ndesign\tand\tinstallation\tcontracts\tand\tare\tthus\tconsidered\tto\tbe\ta\tcombined\tcontract\twith\tthe\tdesign\tand\tinstallation\tservice.\tFor\tcertain\tlarge\ncommercial\tand\tutility\tgrade\tsolar\tenergy\tsystems\tand\tenergy\tstorage\tsystems\twhere\tthe\tpercentage\tof\tcompletion\tmethod\tdoes\tnot\tapply,\t\nrevenue\tis\nrecognized\twhen\tcontrol\ttransfers,\twhich\tis\twhen\tthe\tproduct\thas\tbeen\tdelivered\tto\tthe\tcustomer\tand\tcommissioned\tfor\tenergy\tstorage\tsystems\tand\nwhen\tthe\tproject\thas\treceived\tpermission\tto\toperate\tfrom\tthe\tutility\tfor\tsolar\tenergy\tsystems.\t\nOperations\tand\tmaintenance\tservice\trevenue\tis\nrecognized\tratably\tover\tthe\trespective\tcontract\tterm\n\tfor\tsolar\tenergy\tsystem\tsales\tand\tupon\tdelivery\tof\tthe\tservice\tfor\tenergy\tstorage\tsystem\tsales\n.\nCustomer\tpayments\tfor\tsuch\tservices\tare\tusually\tpaid\tannually\tor\tquarterly\tin\tadvance.\nIn\tinstances\twhere\tthere\tare\tmultiple\tperformance\tobligations\tin\ta\tsingle\tcontract,\twe\tallocate\tthe\tconsideration\tto\tthe\tvarious\tobligations\tin\nthe\tcontract\tbased\ton\tthe\trelative\tstandalone\tselling\tprice\tmethod.\tStandalone\tselling\tprices\tare\testimated\tbased\ton\testimated\tcosts\tplus\tmargin\tor"}


created_at: 2024-04-06 13:59:07
topic: persistent://default/default/19a10f6c-edf5-4774-8347-509021fad678
id: c5d64198-f41d-11ee-a3fb-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "tesla-annual-reports/tsla-10k_20191231-gen_0.pdf", "page": 78, "chroma:document": "using\tmarket\tdata\tfor\tcomparable\tproducts.\tCosts\tincurred\ton\tthe\tsale\tof\tresidential\tinstallations\tbefore\tthe\tsolar\tenergy\tsystems\tare\tcompleted\tare\nincluded\tas\twork\tin\tprocess\twithin\tinventory\tin\tthe\tconsolidated\tbalance\tsheets.\tHowever,\tany\tfees\tthat\tare\tpaid\tor\tpayable\tby\tus\tto\ta\tsolar\tloan\tlender\nwould\tbe\trecognized\tas\tan\toffset\tagainst\trevenue.\tCosts\tto\tobtain\ta\tcontract\trelate\tmainly\tto\tcommissions\tpaid\tto\tour\tsales\tpersonnel\trelated\tto\tthe\tsale\nof\tsolar\tenergy\tsystems\tand\tenergy\tstorage\tsystems.\tAs\tour\tcontract\tcosts\trelated\tto\tsolar\tenergy\tsystem\tand\tenergy\tstorage\tsystem\tsales\tare\ttypically\nfulfilled\twithin\tone\tyear,\tthe\tcosts\tto\tobtain\ta\tcontract\tare\texpensed\tas\tincurred.\nAs\tpart\tof\tour\tsolar\tenergy\tsystem\tand\tenergy\tstorage\tsystem\tcontracts,\twe\tmay\tprovide\tthe\tcustomer\twith\tperformance\tguarantees\tthat\nwarrant\tthat\tthe\tunderlying\tsystem\twill\tmeet\tor\texceed\tthe\tminimum\tenergy\tgeneration\tor\tretention\trequirements\tspecified\tin\tthe\tcontract.\tIn\tcertain\ninstances,\twe\tmay\treceive\ta\tbonus\tpayment\tif\tthe\tsystem\tperforms\tabove\ta\tspecified\tlevel.\tConversely,\tif\ta\tsolar\tenergy\tsystem\tor\tenergy\tstorage\nsystem\tdoes\tnot\tmeet\tthe\tperformance\tguarantee\trequirements,\twe\tmay\tbe\trequired\tto\tpay\tliquidated\tdamages.\tOther\tforms\tof\tvariable\tconsideration\nrelated\tto\tour\tlarge\tcommercial\tand\tutility\tgrade\tsolar\tenergy\tsystem\tand\tenergy\tstorage\tsystem\tcontracts\tinclude\tvariable\tcustomer\tpayments\tthat\twill\nbe\tmade\tbased\ton\tour\tenergy\tmarket\tparticipation\tactivities.\tSuch\tguarantees\tand\tvariable\tcustomer\tpayments\trepresent\ta\tform\tof\tvariable\nconsideration\tand\tare\testimated\tat\tcontract\tinception\tat\ttheir\tmost\tlikely\tamount\tand\tupdated\tat\tthe\tend\tof\teach\treporting\tperiod\tas\tadditional"}


created_at: 2024-04-06 13:59:07
topic: persistent://default/default/19a10f6c-edf5-4774-8347-509021fad678
id: c5d641f2-f41d-11ee-a3fb-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "tesla-annual-reports/tsla-10k_20191231-gen_0.pdf", "page": 78, "chroma:document": "performance\tdata\tbecomes\tavailable.\tSuch\testimates\tare\tincluded\tin\tthe\ttransaction\tprice\tonly\tto\tthe\textent\tthat\tit\tis\tprobable\ta\tsignificant\treversal\tof\nrevenue\twill\tnot\toccur.\n76"}


created_at: 2024-04-06 13:59:07
topic: persistent://default/default/19a10f6c-edf5-4774-8347-509021fad678
id: c5d64346-f41d-11ee-a3fb-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "tesla-annual-reports/tsla-10k_20191231-gen_0.pdf", "page": 79, "chroma:document": "We\trecord\tas\tdeferred\trevenue\tany\tnon-refundable\tamounts\tthat\tare\tcollected\tfrom\tcustomers\trelated\tto\tfees\tcharged\tfor\tprepayments\tand\nremote\tmonitoring\tservice\tand\toperations\tand\tmaintenance\tservice,\twhich\tis\trecognized\tas\trevenue\tratably\tover\tthe\trespective\tcustomer\tcontract\tterm.\nAs\tof\tDecember\t31,\t2019\tand\t2018,\tdeferred\trevenue\trelated\tto\tsuch\tcustomer\tpayments\tamounted\tto\t$\n156\n\tmillion\tand\t$\n149\n\tmillion,\trespectively.\nRevenue\trecognized\tfrom\tthe\tdeferred\trevenue\tbalance\tas\tof\tDecember\t31,\t2018\twas\t$\n41\n\tmillion\tfor\tthe\tyear\tended\tDecember\t31,\t2019.\t\nRevenue\nrecognized\tfrom\tthe\tdeferred\trevenue\tbalance\tas\tof\tJanuary\t1,\t2018\twas\t$\n41\n\tmillion\tfor\tthe\tyear\tended\tDecember\t31,\t2018.\t\nWe\thave\telected\tthe\npractical\texpedient\tto\tomit\tdisclosure\tof\tthe\tamount\tof\tthe\ttransaction\tprice\tallocated\tto\tremaining\tperformance\tobligations\tfor\tenergy\tgeneration\tand\nstorage\tsales\twith\tan\toriginal\texpected\tcontract\tlength\tof\tone\tyear\tor\tless\tand\tthe\tamount\tthat\twe\thave\tthe\tright\tto\tinvoice\twhen\tthat\tamount\ncorresponds\tdirectly\twith\tthe\tvalue\tof\tthe\tperformance\tto\tdate.\tAs\tof\tDecember\t31,\t2019,\ttotal\ttransaction\tprice\tallocated\tto\tperformance\tobligations\nthat\twere\tunsatisfied\tor\tpartially\tunsatisfied\tfor\tcontracts\twith\tan\toriginal\texpected\tlength\tof\tmore\tthan\tone\tyear\twas\t$\n103\n\t\tmillion.\tOf\tthis\tamount,\twe\nexpect\tto\trecognize\t$\n5\n\t\tmillion\tin\tthe\tnext\t12\tmonths\tand\tthe\tremaining\tover\ta\tperiod\tup\tto\t\n28\n\tyears.\nEnergy\tGeneration\tand\tStorage\tLeasing\nFor\trevenue\tarrangements\twhere\twe\tare\tthe\tlessor\tunder\toperating\tlease\tagreements\tfor\t\nenergy\tgeneration\tand\tstorage\tproducts\n,\twe\trecord"}


created_at: 2024-04-06 13:59:07
topic: persistent://default/default/19a10f6c-edf5-4774-8347-509021fad678
id: c5d643d2-f41d-11ee-a3fb-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "tesla-annual-reports/tsla-10k_20191231-gen_0.pdf", "page": 79, "chroma:document": "energy\tgeneration\tand\tstorage\tproducts\n,\twe\trecord\nlease\trevenue\tfrom\tminimum\tlease\tpayments,\tincluding\tupfront\trebates\tand\tincentives\tearned\tfrom\tsuch\tsystems,\ton\ta\tstraight-line\tbasis\tover\tthe\tlife\tof\nthe\tlease\tterm,\tassuming\tall\tother\trevenue\trecognition\tcriteria\thave\tbeen\tmet.\tThe\tdifference\tbetween\tthe\tpayments\treceived\tand\tthe\trevenue\nrecognized\tis\trecorded\tas\tdeferred\trevenue\ton\tthe\tconsolidated\tbalance\tsheet.\nFor\tsolar\tenergy\tsystems\twhere\tcustomers\tpurchase\telectricity\tfrom\tus\tunder\tPPAs\tprior\tto\tJanuary\t1,\t2019,\twe\thave\tdetermined\tthat\tthese\nagreements\tshould\tbe\taccounted\tfor\tas\toperating\tleases\tpursuant\tto\tASC\t840.\tRevenue\tis\trecognized\tbased\ton\tthe\tamount\tof\telectricity\tdelivered\tat\nrates\tspecified\tunder\tthe\tcontracts,\tassuming\tall\tother\trevenue\trecognition\tcriteria\tare\tmet.\nWe\trecord\tas\tdeferred\trevenue\tany\tamounts\tthat\tare\tcollected\tfrom\tcustomers,\tincluding\tlease\tprepayments,\tin\texcess\tof\trevenue\trecognized\nand\toperations\tand\tmaintenance\tservice,\twhich\tis\trecognized\tas\trevenue\tratably\tover\tthe\trespective\tcustomer\tcontract\tterm.\tAs\tof\tDecember\t31,\t2019\nand\t2018,\tdeferred\trevenue\trelated\tto\tsuch\tcustomer\tpayments\tamounted\tto\t$\n226\n\t\tmillion\tand\t$\n225\n\tmillion,\trespectively.\tDeferred\trevenue\talso\nincludes\tthe\tportion\tof\trebates\tand\tincentives\treceived\tfrom\tutility\tcompanies\tand\tvarious\tlocal\tand\tstate\tgovernment\tagencies,\twhich\tis\trecognized\tas\nrevenue\tover\tthe\tlease\tterm.\tAs\tof\tDecember\t31,\t2019\tand\tDecember\t31,\t2018,\tdeferred\trevenue\tfrom\trebates\tand\tincentives\tamounted\tto\t$\n36\n\t\tmillion\nand\t$\n37\n\tmillion,\trespectively."}


created_at: 2024-04-06 13:59:07
topic: persistent://default/default/19a10f6c-edf5-4774-8347-509021fad678
id: c5d6445e-f41d-11ee-a3fb-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "tesla-annual-reports/tsla-10k_20191231-gen_0.pdf", "page": 79, "chroma:document": "and\t$\n37\n\tmillion,\trespectively.\nWe\tcapitalize\tinitial\tdirect\tcosts\tfrom\tthe\texecution\tof\tagreements\tfor\tsolar\tenergy\tsystems\tand\tPPAs,\twhich\tinclude\tthe\treferral\tfees\tand\tsales\ncommissions,\tas\tan\telement\tof\tsolar\tenergy\tsystems,\tnet,\tand\tsubsequently\tamortize\tthese\tcosts\tover\tthe\tterm\tof\tthe\trelated\tagreements.\n77"}


created_at: 2024-04-06 13:59:07
topic: persistent://default/default/19a10f6c-edf5-4774-8347-509021fad678
id: c5d644f4-f41d-11ee-a3fb-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "tesla-annual-reports/tsla-10k_20191231-gen_0.pdf", "page": 80, "chroma:document": "Revenue\tby\tsource\nThe\tfollowing\ttable\tdisaggregates\tour\trevenue\tby\tmajor\tsource\t(in\tmillions):\n\t\n\t\n\t\nYear\tEnded\tDecember\t31,\n\t\n\t\n\t\n2019\n\t\n\t\n2018\n\t\nAutomotive\tsales\twithout\tresale\tvalue\tguarantee\n\t\n$\n19,212\n\t\n\t\n$\n15,810\n\t\nAutomotive\tsales\twith\tresale\tvalue\tguarantee\t(1)\n\t\n\t\n146\n\t\n\t\n\t\n1,403\n\t\nAutomotive\tregulatory\tcredits\n\t\n\t\n594\n\t\n\t\n\t\n419\n\t\nEnergy\tgeneration\tand\tstorage\tsales\t(2)\n\t\n\t\n1,000\n\t\n\t\n\t\n1,056\n\t\nServices\tand\tother\n\t\n\t\n2,226\n\t\n\t\n\t\n1,391\n\t\nTotal\trevenues\tfrom\tsales\tand\tservices\n\t\n\t\n23,178\n\t\n\t\n\t\n20,079\n\t\nAutomotive\tleasing\n\t\n\t\n869\n\t\n\t\n\t\n883\n\t\nEnergy\tgeneration\tand\tstorage\tleasing\t(2)\n\t\n\t\n531\n\t\n\t\n\t\n499\n\t\nTotal\trevenues\n\t\n$\n24,578\n\t\n\t\n$\n21,461\n\t\n\t\n(1)\nWe\tmade\tpricing\tadjustments\tto\tour\tvehicle\tofferings\tin\t2019,\twhich\tresulted\tin\ta\treduction\tof\tautomotive\tsales\twith\tresale\tvalue\tguarantee\nrevenues.\tRefer\tto\t\nAutomotive\tSales\twith\tResale\tValue\tGuarantee\n\tsection\tabove\tfor\tdetails.\tThe\tamount\tpresented\trepresents\tautomotive\tsales\nwith\tresale\tvalue\tguarantee\tin\tyear\tended\tDecember\t31,\t2019\tnet\tof\tsuch\tpricing\tadjustments\timpact.\n(2)\nUnder\tASC\t842,\t\nLeases\n,\tsolar\tenergy\tsystem\tsales\tand\tPPAs\tthat\tcommence\tafter\tJanuary\t1,\t2019,\twhere\twe\tare\tthe\tlessor\tand\twere\tpreviously"}


created_at: 2024-04-06 13:59:07
topic: persistent://default/default/19a10f6c-edf5-4774-8347-509021fad678
id: c5d64558-f41d-11ee-a3fb-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "tesla-annual-reports/tsla-10k_20191231-gen_0.pdf", "page": 80, "chroma:document": "accounted\tfor\tas\tleases,\tno\tlonger\tmeet\tthe\tdefinition\tof\ta\tlease\tand\tare\tinstead\taccounted\tfor\tin\taccordance\twith\tthe\tnew\trevenue\tstandard\n(refer\tto\tthe\t\nLeases\n\tsection\tbelow\tfor\tdetails).\n\t\nCost\tof\tRevenues\nAutomotive\tSegment\nAutomotive\tSales\nCost\tof\tautomotive\tsales\trevenue\tincludes\tdirect\tparts,\tmaterial\tand\tlabor\tcosts,\tmanufacturing\toverhead,\tincluding\tdepreciation\tcosts\tof\ntooling\tand\tmachinery,\tshipping\tand\tlogistic\tcosts,\tvehicle\tconnectivity\tcosts,\tallocations\tof\telectricity\tand\tinfrastructure\tcosts\trelated\tto\tour\nSupercharger\tnetwork,\tand\treserves\tfor\testimated\twarranty\texpenses.\tCost\tof\tautomotive\tsales\trevenues\talso\tincludes\tadjustments\tto\twarranty\texpense\nand\tcharges\tto\twrite\tdown\tthe\tcarrying\tvalue\tof\tour\tinventory\twhen\tit\texceeds\tits\testimated\tnet\trealizable\tvalue\tand\tto\tprovide\tfor\tobsolete\tand\ton-\nhand\tinventory\tin\texcess\tof\tforecasted\tdemand\n.\nAutomotive\tLeasing\nCost\tof\tautomotive\tleasing\trevenue\tincludes\tprimarily\tthe\tamortization\tof\toperating\tlease\tvehicles\tover\tthe\tlease\tterm,\tas\twell\tas\twarranty\nexpenses\trecognized\tas\tincurred.\tCost\tof\tautomotive\tleasing\trevenue\talso\tincludes\tvehicle\tconnectivity\tcosts\tand\tallocations\tof\telectricity\tand\ninfrastructure\tcosts\trelated\tto\tour\tSupercharger\tnetwork\tfor\tvehicles\tunder\tour\tleasing\tprograms\n.\nServices\tand\tOther\nCosts\tof\tservices\tand\tother\trevenue\tincludes\tcosts\tassociated\twith\tproviding\tnon-warranty\tafter-sales\t\nservices\n,\tcosts\tto\tacquire\tand\tcertify\tused\nvehicles,\tcosts\tfor\tretail\tmerchandise,\tand\tcosts\tto\tprovide\tvehicle\tinsurance.\tCost\tof\tservices\tand\tother\trevenue\talso\tincludes\tdirect\tparts,\tmaterial\tand\nlabor\tcosts,\tmanufacturing\toverhead\tassociated\twith\tthe\tsales\tby\tour\tacquired\tsubsidiaries\tto\tthird\tparty\tcustomers\n."}


created_at: 2024-04-06 13:59:07
topic: persistent://default/default/19a10f6c-edf5-4774-8347-509021fad678
id: c5d645bc-f41d-11ee-a3fb-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "tesla-annual-reports/tsla-10k_20191231-gen_0.pdf", "page": 80, "chroma:document": ".\n78"}


created_at: 2024-04-06 13:59:07
topic: persistent://default/default/19a10f6c-edf5-4774-8347-509021fad678
id: c5d64616-f41d-11ee-a3fb-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "tesla-annual-reports/tsla-10k_20191231-gen_0.pdf", "page": 81, "chroma:document": "Energy\tGeneration\tand\tStorage\tSegment\nEnergy\tGeneration\tand\tStorage\nEnergy\tgeneration\tand\tstorage\tcost\tof\trevenue\tincludes\tdirect\tand\tindirect\tmaterial\tand\tlabor\tcosts,\twarehouse\trent,\tfreight,\twarranty\texpense,\nother\toverhead\tcosts\tand\tamortization\tof\tcertain\tacquired\tintangible\tassets.\tIn\taddition,\twhere\tarrangements\tare\taccounted\tfor\tas\toperating\tleases,\tthe\ncost\tof\trevenue\tis\tprimarily\tcomprised\tof\tdepreciation\tof\tthe\tcost\tof\tleased\tsolar\tenergy\tsystems,\tmaintenance\tcosts\tassociated\twith\tthose\tsystems\tand\namortization\tof\tany\tinitial\tdirect\tcosts.\n\t\nLeases\nIn\tFebruary\t2016,\tthe\tFASB\tissued\tASU\tNo.\t2016-02\t(\u201cASC\t842\u201d),\tLeases,\tto\trequire\tlessees\tto\trecognize\tall\tleases,\twith\tcertain\texceptions,\ton\tthe\nbalance\tsheet,\twhile\trecognition\ton\tthe\tstatement\tof\toperations\twill\tremain\tsimilar\tto\tlease\taccounting\tunder\tASC\t840.\tSubsequently,\tthe\tFASB\tissued\nASU\tNo.\t2018-10,\tCodification\tImprovements\tto\tTopic\t842,\tLeases,\tASU\tNo.\t2018-11,\tTargeted\tImprovements,\tASU\tNo.\t2018-20,\tNarrow-Scope\nImprovements\tfor\tLessors,\tand\tASU\t2019-01,\tCodification\tImprovements,\tto\tclarify\tand\tamend\tthe\tguidance\tin\tASU\tNo.\t2016-02.\tASC\t842\teliminates\treal\nestate-specific\tprovisions\tand\tmodifies\tcertain\taspects\tof\tlessor\taccounting.\tWe\tadopted\tASC\t842\tas\tof\tJanuary\t1,\t2019\tusing\tthe\tcumulative\teffect\nadjustment\tapproach\t(\u201cadoption\tof\tthe\tnew\tlease\tstandard\u201d).\tIn\taddition,\twe\telected\tthe\tpackage\tof\tpractical\texpedients\tpermitted\tunder\tthe\ttransition"}


created_at: 2024-04-06 13:59:07
topic: persistent://default/default/19a10f6c-edf5-4774-8347-509021fad678
id: c5d64670-f41d-11ee-a3fb-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "tesla-annual-reports/tsla-10k_20191231-gen_0.pdf", "page": 81, "chroma:document": "guidance\twithin\tthe\tnew\tstandard,\twhich\tallowed\tus\tto\tcarry\tforward\tthe\thistorical\tdetermination\tof\tcontracts\tas\tleases,\tlease\tclassification\tand\tnot\nreassess\tinitial\tdirect\tcosts\tfor\thistorical\tlease\tarrangements.\tAccordingly,\tpreviously\treported\tfinancial\tstatements,\tincluding\tfootnote\tdisclosures,\thave\nnot\tbeen\trecast\tto\treflect\tthe\tapplication\tof\tthe\tnew\tstandard\tto\tall\tcomparative\tperiods\tpresented.\tThe\tfinance\tlease\tclassification\tunder\tASC\t842\tincludes\nleases\tpreviously\tclassified\tas\tcapital\tleases\tunder\tASC\t840.\nAgreements\tfor\tsolar\tenergy\tsystem\tleases\tand\tPPAs\t(solar\tleases)\tthat\tcommence\tafter\tJanuary\t1,\t2019,\twhere\twe\tare\tthe\tlessor\tand\twere\npreviously\taccounted\tfor\tas\toperating\tleases\tno\tlonger\tmeet\tthe\tdefinition\tof\ta\tlease\tupon\tthe\tadoption\tof\tASC\t842\tand\tare\tinstead\taccounted\tfor\tin\naccordance\twith\tthe\trevenue\tstandard.\tUnder\tthese\ttwo\ttypes\tof\tarrangements,\tthe\tcustomer\tis\tnot\tresponsible\tfor\tthe\tdesign\tof\tthe\tenergy\tsystem\tbut\nrather\tapproved\tthe\tenergy\tsystem\tbenefits\tin\tterms\tof\tenergy\tcapacity\tand\tproduction\tto\tbe\treceived\tover\tthe\tterm.\tAccordingly,\tthe\trevenue\tfrom\nsolar\tleases\tcommencing\tafter\tJanuary\t1,\t2019\tare\tnow\trecognized\tas\tearned,\tbased\ton\tthe\tamount\tof\tcapacity\tprovided\tor\telectricity\tdelivered\tat\tthe\ncontractual\tbilling\trates,\tassuming\tall\tother\trevenue\trecognition\tcriteria\thave\tbeen\tmet.\tUnder\tthe\tpractical\texpedient\tavailable\tunder\tASC\t606-10-55-\n18,\twe\trecognize\trevenue\tbased\ton\tthe\tvalue\tof\tthe\tservice\twhich\tis\tconsistent\twith\tthe\tbilling\tamount.\nWe\thave\tlease\tagreements\twith\tlease\tand\tnon-lease\tcomponents,\tand\thave\telected\tto\tutilize\tthe\tpractical\texpedient\tto\taccount\tfor\tlease\tand"}


created_at: 2024-04-06 13:59:07
topic: persistent://default/default/19a10f6c-edf5-4774-8347-509021fad678
id: c5d646d4-f41d-11ee-a3fb-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "tesla-annual-reports/tsla-10k_20191231-gen_0.pdf", "page": 81, "chroma:document": "non-lease\tcomponents\ttogether\tas\ta\tsingle\tcombined\tlease\tcomponent,\tfrom\tboth\ta\tlessee\tand\tlessor\tperspective.\tFrom\ta\tlessor\tperspective,\tthe\ttiming\nand\tpattern\tof\ttransfer\tare\tthe\tsame\tfor\tthe\tnon-lease\tcomponents\tand\tassociated\tlease\tcomponent\tand,\tthe\tlease\tcomponent,\tif\taccounted\tfor\nseparately,\twould\tbe\tclassified\tas\tan\toperating\tlease.\tAdditionally,\tleases\tpreviously\tidentified\tas\tbuild-to-suit\tleasing\tarrangements\tunder\tlegacy\tlease\naccounting\t(ASC\t840),\twere\tderecognized\tpursuant\tto\tthe\ttransition\tguidance\tprovided\tfor\tbuild-to-suit\tleases\tin\tASC\t842.\tAccordingly,\tthese\tleases\nhave\tbeen\treassessed\tas\toperating\tleases\tas\tof\tthe\tadoption\tdate\tunder\tASC\t842,\tand\tare\tincluded\ton\tthe\tconsolidated\tbalance\tsheet\tas\tof\nDecember\t31,\t2019.\nOperating\tlease\tassets\tare\tincluded\twithin\toperating\tlease\tright-of-use\tassets,\tand\tthe\tcorresponding\toperating\tlease\tliabilities\tare\tincluded\nwithin\taccrued\tliabilities\tand\tother\n\t\nfor\tthe\tcurrent\tportion,\tand\twithin\tother\tlong-term\tliabilities\tfor\tthe\tlong-term\tportion\ton\tour\tconsolidated\tbalance\nsheet\tas\tof\tDecember\t31,\t2019.\tFinance\tlease\tassets\tare\tincluded\twithin\tproperty,\tplant\tand\tequipment,\tnet,\n\t\nand\tthe\tcorresponding\tfinance\tlease\nliabilities\tare\tincluded\twithin\tcurrent\tportion\tof\tlong-term\tdebt\tand\tfinance\tleases\n\t\nfor\tthe\tcurrent\tportion,\tand\twithin\tl\nong-term\tdebt\tand\tfinance\tleases,\nnet\tof\tcurrent\tportion\n\tfor\tthe\tlong-term\tportion\ton\tour\tconsolidated\tbalance\tsheet\tas\tof\tDecember\t31,\t2019.\n79"}


created_at: 2024-04-06 13:59:07
topic: persistent://default/default/19a10f6c-edf5-4774-8347-509021fad678
id: c5d6472e-f41d-11ee-a3fb-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "tesla-annual-reports/tsla-10k_20191231-gen_0.pdf", "page": 82, "chroma:document": "We\thave\telected\tnot\tto\tpresent\tshort-term\tleases\ton\tthe\tconsolidated\tbalance\tsheet\tas\tthese\tleases\thave\ta\tlease\tterm\tof\t12\tmonths\tor\tless\tat\nlease\tinception\tand\tdo\tnot\tcontain\tpurchase\toptions\tor\trenewal\tterms\tthat\twe\tare\treasonably\tcertain\tto\texercise.\tAll\tother\tlease\tassets\tand\tlease\nliabilities\tare\trecognized\tbased\ton\tthe\tpresent\tvalue\tof\tlease\tpayments\tover\tthe\tlease\tterm\tat\tcommencement\tdate.\tBecause\tmost\tof\tour\tleases\tdo\tnot\nprovide\tan\timplicit\trate\tof\treturn,\twe\tused\tour\tincremental\tborrowing\trate\tbased\ton\tthe\tinformation\tavailable\tat\tadoption\tdate\tin\tdetermining\tthe\npresent\tvalue\tof\tlease\tpayments.\nAdoption\tof\tthe\tnew\tlease\tstandard\ton\tJanuary\t1,\t2019\thad\ta\tmaterial\timpact\ton\tour\tconsolidated\tfinancial\tstatements.\tThe\tmost\tsignificant\nimpacts\trelated\tto\tthe\t(i)\trecognition\tof\tright-of-use\t(\"ROU\")\tassets\tof\t$\n1.29\n\tbillion\tand\tlease\tliabilities\tof\t$\n1.24\n\tbillion\tfor\toperating\tleases\ton\tthe\nconsolidated\tbalance\tsheet,\tand\t(ii)\tde-recognition\tof\tbuild-to-suit\tlease\tassets\tand\tliabilities\tof\t$\n1.62\n\tbillion\tand\t$\n1.74\n\tbillion,\trespectively,\twith\tthe\tnet\nimpact\tof\t$\n97\n\tmillion\trecorded\tto\taccumulated\tdeficit,\tas\tof\tJanuary\t1,\t2019.\tWe\talso\treclassified\tprepaid\texpenses\tand\tother\tcurrent\tasset\tbalances\tof\n$\n142\n\tmillion\tand\tdeferred\trent\tbalance,\tincluding\ttenant\timprovement\tallowances,\tand\tother\tliability\tbalances\tof\t$\n70\n\tmillion\trelating\tto\tour\texisting\nlease\tarrangements\tas\tof\tDecember\t31,\t2018,\tinto\tthe\tROU\tasset\tbalance\tas\tof\tJanuary\t1,\t2019.\tROU\tassets\trepresent\tour\tright\tto\tuse\tan\tunderlying"}


created_at: 2024-04-06 13:59:07
topic: persistent://default/default/19a10f6c-edf5-4774-8347-509021fad678
id: c5d64788-f41d-11ee-a3fb-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "tesla-annual-reports/tsla-10k_20191231-gen_0.pdf", "page": 82, "chroma:document": "asset\tfor\tthe\tlease\tterm\tand\tlease\tliabilities\trepresent\tour\tobligation\tto\tmake\tlease\tpayments\tarising\tfrom\tthe\tlease.\tThe\tstandard\tdid\tnot\tmaterially\nimpact\tour\tconsolidated\tstatement\tof\toperations\tand\tconsolidated\tstatement\tof\tcash\tflows.\nThe\tcumulative\teffect\tof\tthe\tchanges\tmade\tto\tour\tconsolidated\tbalance\tsheet\tas\tof\tJanuary\t1,\t2019\tfor\tthe\tadoption\tof\tthe\tnew\tlease\tstandard\nwas\t\nas\n\tfollows\t(in\tmillions):\n\t\n\t\n\t\nBalances\tat\nDecember\t31,\t2018\n\t\n\t\nAdjustments\nfrom\tAdoption\nof\tNew\tLease\nStandard\n\t\n\t\nBalances\tat\nJanuary\t1,\t2019\n\t\nAssets\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\nPrepaid\texpenses\tand\tother\tcurrent\tassets\n\t\n$\n366\n\t\n\t\n$\n\u2014\n\t\n\t\n$\n366\n\t\nProperty,\tplant\tand\tequipment,\tnet\n\t\n\t\n11,330\n\t\n\t\n\t\n(\n1,617\n)\n\t\n\t\n9,713\n\t\nOperating\tlease\tright-of-use\tassets\n\t\n\t\n\u2014\n\t\n\t\n\t\n1,286\n\t\n\t\n\t\n1,286\n\t\nOther\tassets\n\t\n\t\n572\n\t\n\t\n\t\n(\n141\n)\n\t\n\t\n431\n\t\nLiabilities\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\nAccrued\tliabilities\tand\tother\n\t\n\t\n2,094\n\t\n\t\n\t\n118\n\t\n\t\n\t\n2,212\n\t\nCurrent\tportion\tof\tlong-term\tdebt\tand\tfinance\tleases\n\t\n\t\n2,568\n\t\n\t\n\t\n\u2014\n\t\n\t\n\t\n2,568\n\t\nLong-term\tdebt\tand\tfinance\tleases,\tnet\tof\tcurrent\tportion\n\t\n\t\n9,404\n\t\n\t\n\t\n\u2014\n\t\n\t\n\t\n9,404"}


created_at: 2024-04-06 13:59:07
topic: persistent://default/default/19a10f6c-edf5-4774-8347-509021fad678
id: c5d647ec-f41d-11ee-a3fb-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "tesla-annual-reports/tsla-10k_20191231-gen_0.pdf", "page": 82, "chroma:document": "\u2014\n\t\n\t\n\t\n9,404\n\t\nOther\tlong-term\tliabilities\n\t\n\t\n2,710\n\t\n\t\n\t\n(\n687\n)\n\t\n\t\n2,023\n\t\nEquity\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\nAccumulated\tdeficit\n\t\n\t\n(\n5,318\n)\n\t\n\t\n97\n\t\n\t\n\t\n(\n5,221\n)\n\t\nResearch\tand\tDevelopment\tCosts\nResearch\tand\tdevelopment\tcosts\tare\texpensed\tas\tincurred.\nMarketing,\tPromotional\tand\tAdvertising\tCosts\nMarketing,\tpromotional\tand\tadvertising\tcosts\tare\texpensed\tas\tincurred\tand\tare\tincluded\tas\tan\telement\tof\tselling,\tgeneral\tand\tadministrative\nexpense\tin\tthe\tconsolidated\tstatement\tof\toperations.\tWe\tincurred\tmarketing,\tpromotional\tand\tadvertising\tcosts\tof\t$\n27\n\tmillion,\t$\n32\n\tmillion\tand\n$\n37\n\tmillion\tin\tthe\tyears\tended\tDecember\t31,\t2019,\t2018\tand\t2017,\trespectively,\tof\twhich\tthe\tmajority\tis\trelated\tto\tpromotional\tactivities.\nIncome\tTaxes\nIncome\ttaxes\tare\tcomputed\tusing\tthe\tasset\tand\tliability\tmethod,\tunder\twhich\tdeferred\ttax\tassets\tand\tliabilities\tare\tdetermined\tbased\ton\tthe\ndifference\tbetween\tthe\tfinancial\tstatement\tand\ttax\tbases\tof\tassets\tand\tliabilities\tusing\tenacted\ttax\trates\tin\teffect\tfor\tthe\tyear\tin\twhich\tthe\tdifferences\nare\texpected\tto\taffect\ttaxable\tincome.\tValuation\tallowances\tare\testablished\twhen\tnecessary\tto\treduce\tdeferred\ttax\tassets\tto\tthe\tamount\texpected\tto\tbe\nrealized.\n80"}


created_at: 2024-04-06 13:59:07
topic: persistent://default/default/19a10f6c-edf5-4774-8347-509021fad678
id: c5d64850-f41d-11ee-a3fb-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "tesla-annual-reports/tsla-10k_20191231-gen_0.pdf", "page": 83, "chroma:document": "We\trecord\tliabilities\trelated\tto\tuncertain\ttax\tpositions\twhen,\tdespite\tour\tbelief\tthat\tour\ttax\treturn\tpositions\tare\tsupportable,\twe\tbelieve\tthat\tit\tis\nmore\tlikely\tthan\tnot\tthat\tthose\tpositions\tmay\tnot\tbe\tfully\tsustained\tupon\treview\tby\ttax\tauthorities.\tAccrued\tinterest\tand\tpenalties\trelated\tto\nunrecognized\ttax\tbenefits\tare\tclassified\tas\tincome\ttax\texpense.\n\t\t\nComprehensive\tIncome\t(Loss)\nComprehensive\tincome\t(loss)\tis\tcomprised\tof\tnet\tincome\t(loss)\tand\tother\tcomprehensive\tincome\t(loss).\tOther\tcomprehensive\t\nincome\n\t(loss)\nconsists\tof\tunrealized\tgains\tand\tlosses\ton\tcash\tflow\thedges\tand\tforeign\tcurrency\ttranslation\tadjustments\tthat\thave\tbeen\texcluded\tfrom\tthe\ndetermination\tof\tnet\tincome\t(loss).\nStock-Based\tCompensation\nWe\trecognize\tcompensation\texpense\tfor\tcosts\trelated\tto\tall\tshare-based\tpayments,\tincluding\tstock\toptions,\trestricted\tstock\tunits\t(\u201cRSUs\u201d)\tand\nour\temployee\tstock\tpurchase\tplan\t(the\t\u201cESPP\u201d).\tThe\tfair\tvalue\tof\tstock\toption\tawards\twith\tonly\tservice\tand/or\tperformance\tconditions\tand\tthe\tESPP\tis\nestimated\ton\tthe\tgrant\tor\toffering\tdate\tusing\tthe\tBlack-Scholes\toption-pricing\tmodel.\tThe\tfair\tvalue\tof\tRSUs\tis\tmeasured\ton\tthe\tgrant\tdate\tbased\ton\tthe\nclosing\tfair\tmarket\tvalue\tof\tour\tcommon\tstock.\tStock-based\tcompensation\texpense\tis\trecognized\ton\ta\tstraight-line\tbasis\tover\tthe\trequisite\tservice\nperiod,\tnet\tof\tactual\tforfeitures\tin\tthe\tperiod.\nFor\tperformance-based\tawards,\tstock-based\tcompensation\texpense\tis\trecognized\tover\tthe\texpected\tperformance\tachievement\tperiod\tof\nindividual\tperformance\tmilestones\twhen\tthe\tachievement\tof\teach\tindividual\tperformance\tmilestone\tbecomes\tprobable.\tFor\tperformance-based\tawards\nwith\ta\tvesting\tschedule\tbased\tentirely\ton\tthe\tattainment\tof\tboth\tperformance\tand\tmarket\tconditions,\tstock-based\tcompensation\texpense\tassociated"}


created_at: 2024-04-06 13:59:07
topic: persistent://default/default/19a10f6c-edf5-4774-8347-509021fad678
id: c5d6494a-f41d-11ee-a3fb-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "tesla-annual-reports/tsla-10k_20191231-gen_0.pdf", "page": 83, "chroma:document": "with\teach\ttranche\tis\trecognized\tover\tthe\tlonger\tof\t(i)\tthe\texpected\tachievement\tperiod\tfor\tthe\toperational\tmilestone\tfor\tsuch\ttranche\tand\t(ii)\tthe\nexpected\tachievement\tperiod\tfor\tthe\trelated\tmarket\tcapitalization\tmilestone\tdetermined\ton\tthe\tgrant\tdate,\tbeginning\tat\tthe\tpoint\tin\ttime\twhen\tthe\nrelevant\toperational\tmilestone\tis\tconsidered\tprobable\tof\tbeing\tmet.\tIf\tsuch\toperational\tmilestone\tbecomes\tprobable\tany\ttime\tafter\tthe\tgrant\tdate,\twe\nwill\trecognize\ta\tcumulative\tcatch-up\texpense\tfrom\tthe\tgrant\tdate\tto\tthat\tpoint\tin\ttime.\tIf\tthe\trelated\tmarket\tcapitalization\tmilestone\tis\tachieved\tearlier\nthan\tits\texpected\tachievement\tperiod\tand\tthe\tachievement\tof\tthe\trelated\toperational\tmilestone,\tthen\tthe\tstock-based\tcompensation\texpense\twill\tbe\nrecognized\tover\tthe\texpected\tachievement\tperiod\tfor\tthe\toperational\tmilestone,\twhich\tmay\taccelerate\tthe\trate\tat\twhich\tsuch\texpense\tis\trecognized.\nThe\tfair\tvalue\tof\tsuch\tawards\tis\testimated\ton\tthe\tgrant\tdate\tusing\tMonte\tCarlo\tsimulations\t(see\tNote\t\n14,\n\t\nEquity\tIncentive\tPlans\n).\nAs\twe\taccumulate\tadditional\temployee\tstock-based\tawards\tdata\tover\ttime\tand\tas\twe\tincorporate\tmarket\tdata\trelated\tto\tour\tcommon\tstock,\twe\nmay\tcalculate\tsignificantly\tdifferent\tvolatilities\tand\texpected\tlives,\twhich\tcould\tmaterially\timpact\tthe\tvaluation\tof\tour\tstock-based\tawards\tand\tthe\tstock-\nbased\tcompensation\texpense\tthat\twe\twill\trecognize\tin\tfuture\tperiods.\tStock-based\tcompensation\texpense\tis\trecorded\tin\tcost\tof\trevenues,\tresearch\tand\ndevelopment\texpense\tand\tselling,\tgeneral\tand\tadministrative\texpense\tin\tthe\tconsolidated\tstatements\tof\toperations.\n81"}


created_at: 2024-04-06 13:59:07
topic: persistent://default/default/19a10f6c-edf5-4774-8347-509021fad678
id: c5d649f4-f41d-11ee-a3fb-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "tesla-annual-reports/tsla-10k_20191231-gen_0.pdf", "page": 84, "chroma:document": "Noncontrolling\tInterests\tand\tRedeemable\tNoncontrolling\tInterests\nNoncontrolling\tinterests\tand\tredeemable\tnoncontrolling\tinterests\trepresent\tthird-party\tinterests\tin\tthe\tnet\tassets\tunder\tcertain\tfunding\narrangements,\tor\tfunds,\tthat\twe\tenter\tinto\tto\tfinance\tthe\tcosts\tof\tsolar\tenergy\tsystems\tand\tvehicles\tunder\toperating\tleases.\tWe\thave\tdetermined\tthat\nthe\tcontractual\tprovisions\tof\tthe\tfunds\trepresent\tsubstantive\tprofit\tsharing\tarrangements.\tWe\thave\tfurther\tdetermined\tthat\tthe\tappropriate\nmethodology\tfor\tcalculating\tthe\tnoncontrolling\tinterest\tand\tredeemable\tnoncontrolling\tinterest\tbalances\tthat\treflects\tthe\tsubstantive\tprofit\tsharing\narrangements\tis\ta\tbalance\tsheet\tapproach\tusing\tthe\thypothetical\tliquidation\tat\tbook\tvalue\t(\u201cHLBV\u201d)\tmethod.\tWe,\ttherefore,\tdetermine\tthe\tamount\tof\nthe\tnoncontrolling\tinterests\tand\tredeemable\tnoncontrolling\tinterests\tin\tthe\tnet\tassets\tof\tthe\tfunds\tat\teach\tbalance\tsheet\tdate\tusing\tthe\tHLBV\tmethod,\nwhich\tis\tpresented\ton\tthe\tconsolidated\tbalance\tsheet\tas\tnoncontrolling\tinterests\tin\tsubsidiaries\tand\tredeemable\tnoncontrolling\tinterests\tin\tsubsidiaries.\nUnder\tthe\tHLBV\tmethod,\tthe\tamounts\treported\tas\tnoncontrolling\tinterests\tand\tredeemable\tnoncontrolling\tinterests\tin\tthe\tconsolidated\tbalance\tsheet\nrepresent\tthe\tamounts\tthe\tthird-parties\twould\thypothetically\treceive\tat\teach\tbalance\tsheet\tdate\tunder\tthe\tliquidation\tprovisions\tof\tthe\tfunds,\tassuming\nthe\tnet\tassets\tof\tthe\tfunds\twere\tliquidated\tat\ttheir\trecorded\tamounts\tdetermined\tin\taccordance\twith\tGAAP\tand\twith\ttax\tlaws\teffective\tat\tthe\tbalance\nsheet\tdate\tand\tdistributed\tto\tthe\tthird-parties.\tThe\tthird-parties\u2019\tinterests\tin\tthe\tresults\tof\toperations\tof\tthe\tfunds\tare\tdetermined\tas\tthe\tdifference\tin"}


created_at: 2024-04-06 13:59:07
topic: persistent://default/default/19a10f6c-edf5-4774-8347-509021fad678
id: c5d64a80-f41d-11ee-a3fb-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "tesla-annual-reports/tsla-10k_20191231-gen_0.pdf", "page": 84, "chroma:document": "the\tnoncontrolling\tinterest\tand\tredeemable\tnoncontrolling\tinterest\tbalances\tin\tthe\tconsolidated\tbalance\tsheets\tbetween\tthe\tstart\tand\tend\tof\teach\nreporting\tperiod,\tafter\ttaking\tinto\taccount\tany\tcapital\ttransactions\tbetween\tthe\tfunds\tand\tthe\tthird-parties.\tHowever,\tthe\tredeemable\tnoncontrolling\ninterest\tbalance\tis\tat\tleast\tequal\tto\tthe\tredemption\tamount.\tThe\tredeemable\tnoncontrolling\tinterest\tbalance\tis\tpresented\tas\ttemporary\tequity\tin\tthe\nmezzanine\tsection\tof\tthe\tconsolidated\tbalance\tsheet\tsince\tthese\tthird-parties\thave\tthe\tright\tto\tredeem\ttheir\tinterests\tin\tthe\tfunds\tfor\tcash\tor\tother\nassets.\nNet\tIncome\t(Loss)\tper\tShare\tof\tCommon\tStock\tAttributable\tto\tCommon\tStockholders\nBasic\tnet\tincome\t(loss)\tper\tshare\tof\tcommon\tstock\tattributable\tto\tcommon\tstockholders\tis\tcalculated\tby\tdividing\tnet\tincome\t(loss)\tattributable\nto\tcommon\tstockholders\tby\tthe\tweighted-average\tshares\tof\tcommon\tstock\toutstanding\tfor\tthe\tperiod.\tDuring\tthe\tyear\tended\tDecember\t31,\t2019,\twe\nincreased\tnet\tloss\tattributable\tto\tcommon\tstockholders\tby\t$\n8\n\tmillion\tto\tarrive\tat\tthe\tnumerator\tused\tto\tcalculate\tnet\tloss\tper\tshare.\tThis\tadjustment\nrepresents\tthe\tdifference\tbetween\tthe\tcash\twe\tpaid\tto\ta\tfinancing\tfund\tinvestor\tfor\ttheir\tnoncontrolling\tinterest\tin\tone\tof\tour\tsubsidiaries\tand\tthe\ncarrying\tamount\tof\tthe\tnoncontrolling\tinterest\ton\tour\tconsolidated\tbalance\tsheet,\tin\taccordance\twith\tASC\t260,\t\nEarnings\tper\tShare\n.\tPotentially\tdilutive\nshares,\twhich\tare\tbased\ton\tthe\tweighted-average\tshares\tof\tcommon\tstock\tunderlying\toutstanding\tstock-based\tawards,\twarrants\tand\tconvertible\tsenior"}


created_at: 2024-04-06 13:59:07
topic: persistent://default/default/19a10f6c-edf5-4774-8347-509021fad678
id: c5d64ada-f41d-11ee-a3fb-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "tesla-annual-reports/tsla-10k_20191231-gen_0.pdf", "page": 84, "chroma:document": "notes\tusing\tthe\ttreasury\tstock\tmethod\tor\tthe\tif-converted\tmethod,\tas\tapplicable,\tare\tincluded\twhen\tcalculating\tdiluted\tnet\tincome\t(loss)\tper\tshare\tof\ncommon\tstock\tattributable\tto\tcommon\tstockholders\twhen\ttheir\teffect\tis\tdilutive.\tSince\twe\tintend\tto\tsettle\tor\thave\tsettled\tin\tcash\tthe\tprincipal\noutstanding\tunder\tour\t\n0.25\n%\tConvertible\tSenior\tNotes\tdue\tin\t\n2019\n,\t\n1.25\n%\tConvertible\tSenior\tNotes\tdue\tin\t\n2021\n,\t\n2.375\n%\tConvertible\tSenior\tNotes\tdue\nin\t\n2022\n,\t\n2.00\n%\tConvertible\tSenior\tNotes\tdue\tin\t\n2024\n\tand\t\n5.50\n%\tConvertible\tSenior\tNotes\tdue\tin\t\n2022\n\t(assumed\tin\tour\tMaxwell\tTechnologies,\tInc.\nacquisition),\twe\tuse\tthe\ttreasury\tstock\tmethod\twhen\tcalculating\ttheir\tpotential\tdilutive\teffect,\tif\tany.\tFurthermore,\tin\tconnection\twith\tthe\tofferings\tof\nour\tnotes,\twe\tentered\tinto\tconvertible\tnote\thedges\tand\twarrants\t(see\tNote\t12,\t\nDebt\n).\tHowever,\tour\tconvertible\tnote\thedges\tare\tnot\tincluded\twhen\ncalculating\tpotentially\tdilutive\tshares\tsince\ttheir\teffect\tis\talways\tanti-dilutive.\tWarrants\twhich\thave\ta\tstrike\tprice\tabove\tour\tshare\tprice\twere\tout\tof\tthe\nmoney\tand\thave\tnot\tbeen\tincluded\tin\tthe\ttable\tbelow.\n\t\nThe\tfollowing\ttable\tpresents\tthe\tpotentially\tdilutive\tshares\tthat\twere\texcluded\tfrom\tthe\tcomputation\tof\tdiluted\tnet\tincome\t(loss)\tper\tshare\tof\ncommon\tstock\tattributable\tto\tcommon\tstockholders,\tbecause\ttheir\teffect\twas\tanti-dilutive\t(in\tmillions):\n\t\n\t\n\t\nYear\tEnded\tDecember\t31,\n\t\n\t\n\t\n2019\n\t\n\t\n2018\n\t\n\t\n2017\n\t\nStock-based\tawards\n\t\n\t\n10"}


created_at: 2024-04-06 13:59:07
topic: persistent://default/default/19a10f6c-edf5-4774-8347-509021fad678
id: c5d64b66-f41d-11ee-a3fb-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "tesla-annual-reports/tsla-10k_20191231-gen_0.pdf", "page": 84, "chroma:document": "Stock-based\tawards\n\t\n\t\n10\n\t\n\t\n\t\n10\n\t\n\t\n\t\n10\n\t\nConvertible\tsenior\tnotes\n\t\n\t\n1\n\t\n\t\n\t\n1\n\t\n\t\n\t\n2\nWarrants\n\t\n\t\n\u2014\n\t\n\t\n\t\n\u2014\n\t\n\t\n\t\n1\n\t\n\t\n82"}


created_at: 2024-04-06 13:59:07
topic: persistent://default/default/19a10f6c-edf5-4774-8347-509021fad678
id: c5d64bc0-f41d-11ee-a3fb-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "tesla-annual-reports/tsla-10k_20191231-gen_0.pdf", "page": 85, "chroma:document": "Business\tCombinations\nWe\taccount\tfor\tbusiness\tacquisitions\tunder\tASC\t805,\t\nBusiness\tCombinations\n.\tThe\ttotal\tpurchase\tconsideration\tfor\tan\tacquisition\tis\tmeasured\tas\nthe\tfair\tvalue\tof\tthe\tassets\tgiven,\tequity\tinstruments\tissued\tand\tliabilities\tassumed\tat\tthe\tacquisition\tdate.\tCosts\tthat\tare\tdirectly\tattributable\tto\tthe\nacquisition\tare\texpensed\tas\tincurred.\tIdentifiable\tassets\t(including\tintangible\tassets),\tliabilities\tassumed\t(including\tcontingent\tliabilities)\tand\nnoncontrolling\tinterests\tin\tan\tacquisition\tare\tmeasured\tinitially\tat\ttheir\tfair\tvalues\tat\tthe\tacquisition\tdate.\tWe\trecognize\tgoodwill\tif\tthe\tfair\tvalue\tof\tthe\ntotal\tpurchase\tconsideration\tand\tany\tnoncontrolling\tinterests\tis\tin\texcess\tof\tthe\tnet\tfair\tvalue\tof\tthe\tidentifiable\tassets\tacquired\tand\tthe\tliabilities\nassumed.\tWe\trecognize\ta\tbargain\tpurchase\tgain\twithin\tother\tincome\t(expense),\tnet,\ton\tthe\tconsolidated\tstatement\tof\toperations\tif\tthe\tnet\tfair\tvalue\tof\nthe\tidentifiable\tassets\tacquired\tand\tthe\tliabilities\tassumed\tis\tin\texcess\tof\tthe\tfair\tvalue\tof\tthe\ttotal\tpurchase\tconsideration\tand\tany\tnoncontrolling\ninterests.\tWe\tinclude\tthe\tresults\tof\toperations\tof\tthe\tacquired\tbusiness\tin\tthe\tconsolidated\tfinancial\tstatements\tbeginning\ton\tthe\tacquisition\tdate.\nCash\tand\tCash\tEquivalents\nAll\thighly\tliquid\tinvestments\twith\tan\toriginal\tmaturity\tof\tthree\tmonths\tor\tless\tat\tthe\tdate\tof\tpurchase\tare\tconsidered\tcash\tequivalents.\tOur\tcash\nequivalents\tare\tprimarily\tcomprised\tof\tmoney\tmarket\tfunds.\nRestricted\tCash\nWe\tmaintain\tcertain\tcash\tbalances\trestricted\tas\tto\twithdrawal\tor\tuse.\tOur\trestricted\tcash\tis\tcomprised\tprimarily\tof\tcash\tas\tcollateral\tfor\tour\nsales\tto\tlease\tpartners\twith\ta\tresale\tvalue\tguarantee,\tletters\tof\tcredit,\treal\testate\tleases,\tinsurance\tpolicies,\tcredit\tcard\tborrowing\tfacilities\tand\tcertain"}


created_at: 2024-04-06 13:59:07
topic: persistent://default/default/19a10f6c-edf5-4774-8347-509021fad678
id: c5d64c1a-f41d-11ee-a3fb-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "tesla-annual-reports/tsla-10k_20191231-gen_0.pdf", "page": 85, "chroma:document": "operating\tleases.\tIn\taddition,\trestricted\tcash\tincludes\tcash\treceived\tfrom\tcertain\tfund\tinvestors\tthat\thave\tnot\tbeen\treleased\tfor\tuse\tby\tus\tand\tcash\theld\nto\tservice\tcertain\tpayments\tunder\tvarious\tsecured\tdebt\tfacilities.\nThe\tfollowing\ttable\ttotals\tcash\tand\tcash\tequivalents\tand\trestricted\tcash\tas\treported\ton\tthe\tconsolidated\tbalance\tsheets;\tthe\tsums\tare\tpresented\nin\tthe\tconsolidated\tstatements\tof\tcash\tflows\t(in\tmillions):\n\t\n\t\n\t\nDecember\t31,\n\t\n\t\nDecember\t31,\n\t\n\t\nDecember\t31,\n\t\n\t\nDecember\t31,\n\t\n\t\n\t\n2019\n\t\n\t\n2018\n\t\n\t\n2017\n\t\n\t\n2016\n\t\nCash\tand\tcash\tequivalents\n\t\n$\n6,268\n\t\n\t\n$\n3,686\n\t\n\t\n$\n3,368\n\t\n\t\n$\n3,393\n\t\nRestricted\tcash,\tcurrent\tportion\n\t\n\t\n246\n\t\n\t\n\t\n193\n\t\n\t\n\t\n155\n\t\n\t\n\t\n106\n\t\nRestricted\tcash,\tnet\tof\tcurrent\tportion\n\t\n\t\n269\n\t\n\t\n\t\n398\n\t\n\t\n\t\n442\n\t\n\t\n\t\n268\n\t\nTotal\tas\tpresented\tin\tthe\tconsolidated\nstatements\tof\tcash\tflows\n\t\n$\n6,783\n\t\n\t\n$\n4,277\n\t\n\t\n$\n3,965\n\t\n\t\n$\n3,767\n\t\nAccounts\tReceivable\tand\tAllowance\tfor\tDoubtful\n\t\nAccounts\nAccounts\treceivable\tprimarily\tinclude\tamounts\trelated\tto\treceivables\tfrom\tfinancial\tinstitutions\tand\tleasing\tcompanies\toffering\tvarious\nfinancing\tproducts\tto\tour\tcustomers,\tsales\tof\tenergy\tgeneration\tand\tstorage\tproducts,\tsales\tof\tregulatory\tcredits\tto\tother\tautomotive\tmanufacturers"}


created_at: 2024-04-06 13:59:07
topic: persistent://default/default/19a10f6c-edf5-4774-8347-509021fad678
id: c5d64c7e-f41d-11ee-a3fb-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "tesla-annual-reports/tsla-10k_20191231-gen_0.pdf", "page": 85, "chroma:document": "and\tmaintenance\tservices\ton\tvehicles\towned\tby\tleasing\tcompanies.\tWe\tprovide\tan\tallowance\tagainst\taccounts\treceivable\tto\tthe\tamount\twe\treasonably\nbelieve\twill\tbe\tcollected.\tWe\twrite-off\taccounts\treceivable\twhen\tthey\tare\tdeemed\tuncollectible.\nWe\ttypically\tdo\tnot\tcarry\tsignificant\taccounts\treceivable\trelated\tto\tour\tvehicle\tand\trelated\tsales\tas\tcustomer\tpayments\tare\tdue\tprior\tto\tvehicle\ndelivery,\texcept\tfor\tamounts\tdue\tfrom\tcommercial\tfinancial\tinstitutions\tfor\tapproved\tfinancing\tarrangements\tbetween\tour\tcustomers\tand\tthe\tfinancial\ninstitutions.\n83"}


created_at: 2024-04-06 13:59:07
topic: persistent://default/default/19a10f6c-edf5-4774-8347-509021fad678
id: c5d64ce2-f41d-11ee-a3fb-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "tesla-annual-reports/tsla-10k_20191231-gen_0.pdf", "page": 86, "chroma:document": "MyPower\tCustomer\tNotes\tReceivable\nWe\thave\tcustomer\tnotes\treceivable\tunder\tthe\tlegacy\tMyPower\tloan\tprogram.\tMyPower\twas\toffered\tby\tSolarCity\tto\tprovide\tresidential\ncustomers\twith\tthe\toption\tto\tfinance\tthe\tpurchase\tof\ta\tsolar\tenergy\tsystem\tthrough\ta\t\n30\n-year\tloan.\tThe\toutstanding\tbalances,\tnet\tof\tany\tallowance\tfor\npotentially\tuncollectible\tamounts,\tare\tpresented\ton\tthe\tconsolidated\tbalance\tsheet\tas\ta\tcomponent\tof\tprepaid\texpenses\tand\tother\tcurrent\tassets\tfor\tthe\ncurrent\tportion\tand\tas\tMyPower\tcustomer\tnotes\treceivable,\tnet\tof\tcurrent\tportion,\tfor\tthe\tlong-term\tportion.\tIn\tdetermining\tthe\tallowance\tand\tcredit\nquality\tfor\tcustomer\tnotes\treceivable,\twe\tidentify\tsignificant\tcustomers\twith\tknown\tdisputes\tor\tcollection\tissues\tand\talso\tconsider\tour\thistorical\tlevel\tof\ncredit\tlosses\tand\tcurrent\teconomic\ttrends\tthat\tmight\timpact\tthe\tlevel\tof\tfuture\tcredit\tlosses.\tCustomer\tnotes\treceivable\tthat\tare\tindividually\timpaired\nare\tcharged-off\tas\ta\twrite-off\tof\tthe\tallowance\tfor\tlosses.\tSince\tacquisition,\tthere\thave\tbeen\t\nno\n\tnew\tsignificant\tcustomers\twith\tknown\tdisputes\tor\ncollection\tissues,\tand\tthe\tamount\tof\tpotentially\tuncollectible\tamounts\thas\tbeen\tinsignificant.\tIn\taddition,\tthere\twere\t\nno\n\tmaterial\tnon-accrual\tor\tpast\tdue\ncustomer\tnotes\treceivable\tas\tof\tDecember\t31,\t2019.\nConcentration\tof\tRisk\nCredit\tRisk\nFinancial\tinstruments\tthat\tpotentially\tsubject\tus\tto\ta\tconcentration\tof\tcredit\trisk\tconsist\tof\tcash,\tcash\tequivalents,\trestricted\tcash,\taccounts\nreceivable,\tconvertible\tnote\thedges,\tand\tinterest\trate\tswaps.\tOur\tcash\tbalances\tare\tprimarily\tinvested\tin\tmoney\tmarket\tfunds\tor\ton\tdeposit\tat\thigh"}


created_at: 2024-04-06 13:59:07
topic: persistent://default/default/19a10f6c-edf5-4774-8347-509021fad678
id: c5d64d32-f41d-11ee-a3fb-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "tesla-annual-reports/tsla-10k_20191231-gen_0.pdf", "page": 86, "chroma:document": "credit\tquality\tfinancial\tinstitutions\tin\tthe\tU.S.\tThese\tdeposits\tare\ttypically\tin\texcess\tof\tinsured\tlimits.\tAs\tof\tDecember\t31,\t2019\tand\t2018,\t\nno\n\tentity\nrepresented\t\n10\n%\tor\tmore\tof\tour\ttotal\taccounts\treceivable\tbalance\t.\tThe\trisk\tof\tconcentration\tfor\tour\tinterest\trate\tswaps\tis\tmitigated\tby\ttransacting\twith\nseveral\thighly-rated\tmultinational\tbanks.\nSupply\tRisk\nWe\tare\tdependent\ton\tour\tsuppliers,\tthe\tmajority\tof\twhich\tare\tsingle\tsource\tsuppliers,\tand\tthe\tinability\tof\tthese\tsuppliers\tto\tdeliver\tnecessary\ncomponents\tof\tour\tproducts\tin\ta\ttimely\tmanner\tat\tprices,\tquality\tlevels\tand\tvolumes\tacceptable\tto\tus,\tor\tour\tinability\tto\tefficiently\tmanage\tthese\ncomponents\tfrom\tthese\tsuppliers,\tcould\thave\ta\tmaterial\tadverse\teffect\ton\tour\tbusiness,\tprospects,\tfinancial\tcondition\tand\toperating\tresults.\nInventory\tValuation\nInventories\tare\tstated\tat\tthe\tlower\tof\tcost\tor\tnet\trealizable\tvalue.\tCost\tis\tcomputed\tusing\tstandard\tcost\tfor\tvehicles\tand\tenergy\tstorage\nproducts,\twhich\tapproximates\tactual\tcost\ton\ta\tfirst-in,\tfirst-out\tbasis.\tIn\taddition,\tcost\tfor\tsolar\tenergy\tsystems\tis\trecorded\tusing\tactual\tcost.\tWe\trecord\ninventory\twrite-downs\tfor\texcess\tor\tobsolete\tinventories\tbased\tupon\tassumptions\tabout\tcurrent\tand\tfuture\tdemand\tforecasts.\tIf\tour\tinventory\ton-hand\nis\tin\texcess\tof\tour\tfuture\tdemand\tforecast,\tthe\texcess\tamounts\tare\twritten-off.\nWe\talso\treview\tour\tinventory\tto\tdetermine\twhether\tits\tcarrying\tvalue\texceeds\tthe\tnet\tamount\trealizable\tupon\tthe\tultimate\tsale\tof\tthe\tinventory.\nThis\trequires\tus\tto\tdetermine\tthe\testimated\tselling\tprice\tof\tour\tvehicles\tless\tthe\testimated\tcost\tto\tconvert\tthe\tinventory\ton-hand\tinto\ta\tfinished\tproduct."}


created_at: 2024-04-06 13:59:07
topic: persistent://default/default/19a10f6c-edf5-4774-8347-509021fad678
id: c5d64d96-f41d-11ee-a3fb-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "tesla-annual-reports/tsla-10k_20191231-gen_0.pdf", "page": 86, "chroma:document": "Once\tinventory\tis\twritten-down,\ta\tnew,\tlower\tcost\tbasis\tfor\tthat\tinventory\tis\testablished\tand\tsubsequent\tchanges\tin\tfacts\tand\tcircumstances\tdo\tnot\nresult\tin\tthe\trestoration\tor\tincrease\tin\tthat\tnewly\testablished\tcost\tbasis.\nShould\tour\testimates\tof\tfuture\tselling\tprices\tor\tproduction\tcosts\tchange,\tadditional\tand\tpotentially\tmaterial\tincreases\tto\tthis\treserve\tmay\tbe\nrequired.\tA\tsmall\tchange\tin\tour\testimates\tmay\tresult\tin\ta\tmaterial\tcharge\tto\tour\treported\tfinancial\tresults.\n84"}


created_at: 2024-04-06 13:59:07
topic: persistent://default/default/19a10f6c-edf5-4774-8347-509021fad678
id: c5d64df0-f41d-11ee-a3fb-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "tesla-annual-reports/tsla-10k_20191231-gen_0.pdf", "page": 87, "chroma:document": "Operating\tLease\tVehicles\nVehicles\tthat\tare\tleased\tas\tpart\tof\tour\tdirect\tvehicle\tleasing\tprogram,\tvehicles\tdelivered\tto\tleasing\tpartners\twith\ta\tresale\tvalue\tguarantee\tand\ta\nbuyback\toption,\tand\tvehicles\tdelivered\tto\tcustomers\twith\tresale\tvalue\tguarantee\twhere\texercise\tis\tprobable\tare\tclassified\tas\toperating\tlease\tvehicles\tas\nthe\trelated\trevenue\ttransactions\tare\ttreated\tas\toperating\tleases\tunder\tASC\t842\t(\nrefer\tto\tthe\t\nAutomotive\tLeasing\tRevenue\t\nsection\tabove\tfor\tdetails\n).\nOperating\tlease\tvehicles\tare\trecorded\tat\tcost\tless\taccumulated\tdepreciation.\tWe\tgenerally\tdepreciate\ttheir\tvalue,\tless\tsalvage\tvalue,\tusing\tthe\tstraight-\nline-method\tto\tcost\tof\tautomotive\tleasing\trevenue\tover\tthe\tcontractual\tperiod.\tThe\ttotal\tcost\tof\toperating\tlease\tvehicles\trecorded\ton\tthe\tconsolidated\nbalance\tsheets\tas\tof\tDecember\t31,\t2019\tand\t2018\twas\t$\n2.85\n\tbillion\tand\t$\n2.55\n\tbillion,\trespectively.\tAccumulated\tdepreciation\trelated\tto\tleased\tvehicles\nas\tof\tDecember\t31,\t2019\tand\t2018\twas\t$\n406\n\tmillion\tand\t$\n458\n\tmillion,\trespectively.\nSolar\tEnergy\tSystems,\tNet\nWe\tare\tthe\tlessor\tof\tsolar\tenergy\tsystems.\tPrior\tto\tJanuary\t1,\t2019,\tthese\tleases\t\nwere\taccounted\tfor\tas\toperating\tleases\tin\taccordance\twith\nASC\t840.\tUnder\tASC\t840,\tto\tdetermine\tlease\tclassification,\twe\tevaluated\tthe\tlease\tterms\tto\tdetermine\twhether\tthere\twas\ta\ttransfer\tof\townership\tor\nbargain\tpurchase\toption\tat\tthe\tend\tof\tthe\tlease,\twhether\tthe\tlease\tterm\twas\tgreater\tthan\t\n75\n%\tof\tthe\tuseful\tlife\tor\twhether\tthe\tpresent\tvalue\tof\tthe\nminimum\tlease\tpayments\texceeded\t\n90\n%\tof\tthe\tfair\tvalue\tat\tlease\tinception.\tAs\tdiscussed\tin\tthe"}


created_at: 2024-04-06 13:59:07
topic: persistent://default/default/19a10f6c-edf5-4774-8347-509021fad678
id: c5d64e4a-f41d-11ee-a3fb-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "tesla-annual-reports/tsla-10k_20191231-gen_0.pdf", "page": 87, "chroma:document": "Leases\n\tsection\tabove,\n\tagreements\tfor\tsolar\tenergy\nsystem\tleases\tand\tPPAs\tthat\tcommence\tafter\tJanuary\t1,\t2019\tno\tlonger\tmeet\tthe\tdefinition\tof\ta\tlease\tupon\tthe\tadoption\tof\tASC\t842\tand\tare\tinstead\naccounted\tfor\tin\taccordance\twith\tthe\tnew\trevenue\tstandard.\tWe\tutilize\tperiodic\tappraisals\tto\testimate\tuseful\tlives\tand\tfair\tvalues\tat\tlease\tinception\tand\nresidual\tvalues\tat\tlease\ttermination.\tSolar\tenergy\tsystems\tare\tstated\tat\tcost\tless\taccumulated\tdepreciation.\nDepreciation\tand\tamortization\tis\tcalculated\tusing\tthe\tstraight-line\tmethod\tover\tthe\testimated\tuseful\tlives\tof\tthe\trespective\tassets,\tas\tfollows:\n\t\nSolar\tenergy\tsystems\tin\tservice\n\t\n\t\n\t\n30\n\tto\t\n35\n\tyears\nInitial\tdirect\tcosts\trelated\tto\tcustomer\n\t\t\tsolar\tenergy\tsystem\tlease\tacquisition\n\t\t\tcosts\n\t\n\t\n\t\nLease\tterm\t(up\tto\n25\tyears)\n\t\nSolar\tenergy\tsystems\tpending\tinterconnection\twill\tbe\tdepreciated\tas\tsolar\tenergy\tsystems\tin\tservice\twhen\tthey\thave\tbeen\tinterconnected\tand\nplaced\tin-service.\tSolar\tenergy\tsystems\tunder\tconstruction\trepresents\tsystems\tthat\tare\tunder\tinstallation,\twhich\twill\tbe\tdepreciated\tas\tsolar\tenergy\nsystems\tin\tservice\twhen\tthey\tare\tcompleted,\tinterconnected\tand\tplaced\tin\tservice.\tInitial\tdirect\tcosts\trelated\tto\tcustomer\tsolar\tenergy\tsystem\nagreement\tacquisition\tcosts\tare\tcapitalized\tand\tamortized\tover\tthe\tterm\tof\tthe\trelated\tcustomer\tagreements.\nProperty,\tPlant\tand\tEquipment,\tnet\nProperty,\tplant\tand\tequipment,\tnet,\tincluding\tleasehold\timprovements,\tare\trecognized\tat\tcost\tless\taccumulated\tdepreciation.\t\nDepreciation\tis\ngenerally\tcomputed\tusing\tthe\tstraight-line\tmethod\tover\tthe\testimated\tuseful\tlives\tof\tthe\trespective\tassets,\tas\tfollows:\n\t\nMachinery,\tequipment,\tvehicles\tand\n\t\t\toffice\tfurniture"}


created_at: 2024-04-06 13:59:07
topic: persistent://default/default/19a10f6c-edf5-4774-8347-509021fad678
id: c5d64ea4-f41d-11ee-a3fb-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "tesla-annual-reports/tsla-10k_20191231-gen_0.pdf", "page": 87, "chroma:document": "office\tfurniture\n\t\n\t\n\t\n2\n\tto\t\n12\n\tyears\nBuilding\tand\tbuilding\timprovements\n\t\n\t\n\t\n15\n\tto\t\n30\n\tyears\nComputer\tequipment\tand\tsoftware\n\t\n\t\n\t\n3\n\tto\t\n10\n\tyears\nLeasehold\timprovements\tare\tdepreciated\ton\ta\tstraight-line\tbasis\tover\tthe\tshorter\tof\ttheir\testimated\tuseful\tlives\tor\tthe\tterms\tof\tthe\trelated\nleases.\nUpon\tthe\tretirement\tor\tsale\tof\tour\tproperty,\tplant\tand\tequipment,\tthe\tcost\tand\tassociated\taccumulated\tdepreciation\tare\tremoved\tfrom\tthe\nconsolidated\tbalance\tsheet,\tand\tthe\tresulting\tgain\tor\tloss\tis\treflected\ton\tthe\tconsolidated\tstatement\tof\toperations.\tMaintenance\tand\trepair\texpenditures\nare\texpensed\tas\tincurred\twhile\tmajor\timprovements\tthat\tincrease\tthe\tfunctionality,\toutput\tor\texpected\tlife\tof\tan\tasset\tare\tcapitalized\tand\tdepreciated\nratably\tover\tthe\tidentified\tuseful\tlife.\n85"}


created_at: 2024-04-06 13:59:07
topic: persistent://default/default/19a10f6c-edf5-4774-8347-509021fad678
id: c5d64efe-f41d-11ee-a3fb-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "tesla-annual-reports/tsla-10k_20191231-gen_0.pdf", "page": 88, "chroma:document": "Interest\texpense\ton\toutstanding\tdebt\tis\tcapitalized\tduring\tthe\tperiod\tof\tsignificant\tcapital\tasset\tconstruction.\tCapitalized\tinterest\ton\nconstruction-in-progress\tis\tincluded\twithin\tproperty,\tplant\tand\tequipment\tand\tis\tamortized\tover\tthe\tlife\tof\tthe\trelated\tassets.\nPrior\tto\tthe\tadoption\tof\tthe\tnew\tlease\tstandard,\twe\twere\tdeemed\tto\tbe\tthe\towner,\tfor\taccounting\tpurposes,\tduring\tthe\tconstruction\tphase\tof\ncertain\tlong-lived\tassets\tunder\tbuild-to-suit\tlease\tarrangements\tbecause\tof\tour\tinvolvement\twith\tthe\tconstruction,\tour\texposure\tto\tany\tpotential\tcost\noverruns\tor\tour\tother\tcommitments\tunder\tthe\tarrangements.\tIn\taccordance\twith\tASC\t840,\twe\trecognized\tbuild-to-suit\tlease\tassets\tunder\tconstruction\nand\tcorresponding\tbuild-to-suit\tlease\tliabilities\ton\tthe\tconsolidated\tbalance\tsheet.\tOnce\tconstruction\twas\tcompleted,\tif\ta\tlease\tmet\tcertain\t\u201csale-\nleaseback\u201d\tcriteria,\twe\tremoved\tthe\tasset\tand\tliability\tand\taccounted\tfor\tthe\tlease\tas\tan\toperating\tlease.\tOtherwise,\tthe\tlease\twas\taccounted\tfor\tas\ta\ncapital\tlease.\t\nAs\ta\tresult\tof\tthe\tadoption\tof\tthe\tnew\tlease\tstandard\ton\tJanuary\t1,\t2019,\twe\thave\tde-recognized\tall\tbuild-to-suit\tlease\tassets\tand\thave\nreassessed\tthese\tleases\tto\tbe\toperating\tlease\tright-of-use\tassets\twithin\tthe\tconsolidated\tbalance\tsheet\tas\tof\tDecember\t31,\t2019\t(refer\tto\t\nLeases\n\tsection\nabove\tfor\tdetails).\nLong-Lived\tAssets\tIncluding\tAcquired\tIntangible\tAssets\nWe\treview\tour\tproperty,\tplant\tand\tequipment,\tlong-term\tprepayments\tand\tintangible\tassets\tfor\timpairment\twhenever\tevents\tor\tchanges\tin\ncircumstances\tindicate\tthat\tthe\tcarrying\tamount\tof\tan\tasset\t(or\tasset\tgroup)\tmay\tnot\tbe\trecoverable.\tWe\tmeasure\trecoverability\tby\tcomparing\tthe"}


created_at: 2024-04-06 13:59:07
topic: persistent://default/default/19a10f6c-edf5-4774-8347-509021fad678
id: c5d64f62-f41d-11ee-a3fb-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "tesla-annual-reports/tsla-10k_20191231-gen_0.pdf", "page": 88, "chroma:document": "carrying\tamount\tto\tthe\tfuture\tundiscounted\tcash\tflows\tthat\tthe\tasset\tis\texpected\tto\tgenerate.\tIf\tthe\tasset\tis\tnot\trecoverable,\tits\tcarrying\tamount\twould\nbe\tadjusted-down\tto\tits\tfair\tvalue.\tFor\tthe\tyears\tended\tDecember\t31,\t2019\tand\t2018,\twe\thave\trecognized\tcertain\timpairments\tof\tour\tlong-lived\tassets\n(refer\tto\tNote\t4,\n\tGoodwill\tand\tIntangible\tAssets\n\tand\tNote\t22,\t\nRestructuring\tand\tOther\n,\tfor\tfurther\tdetails).\tFor\tthe\tyear\tended\tDecember\t31,\t2017,\twe\nhave\trecognized\tno\tmaterial\timpairments\tof\tour\tlong-lived\tassets.\nIntangible\tassets\twith\tdefinite\tlives\tare\tamortized\ton\ta\tstraight-line\tbasis\tover\ttheir\testimated\tuseful\tlives,\twhich\trange\tfrom\t\none\tto\tthirty\tyears\n.\nGoodwill\nWe\tassess\tgoodwill\tfor\timpairment\tannually\tin\tthe\tfourth\tquarter,\tor\tmore\tfrequently\tif\tevents\tor\tchanges\tin\tcircumstances\tindicate\tthat\tit\nmight\tbe\timpaired,\tby\tcomparing\tits\tcarrying\tvalue\tto\tthe\treporting\tunit\u2019s\tfair\tvalue.\tFor\tthe\tyears\tended\tDecember\t31,\t2019,\t2018,\tand\t2017,\twe\thad\nno\nt\trecognized\tany\timpairment\tof\tgoodwill.\nCapitalization\tof\tSoftware\tCosts\nFor\tcosts\tincurred\tin\tdevelopment\tof\tinternal\tuse\tsoftware,\twe\tcapitalize\tcosts\tincurred\tduring\tthe\tapplication\tdevelopment\tstage.\tCosts\trelated\nto\tpreliminary\tproject\tactivities\tand\tpost-implementation\tactivities\tare\texpensed\tas\tincurred.\tInternal\tuse\tsoftware\tis\tamortized\ton\ta\tstraight-line\tbasis\nover\tits\testimated\tuseful\tlife\tof\tthree\tto\tten\tyears.\tWe\tevaluate\tthe\tuseful\tlives\tof\tthese\tassets\ton\tan\tannual\tbasis,\tand\twe\ttest\tfor\timpairment\twhenever"}


created_at: 2024-04-06 13:59:07
topic: persistent://default/default/19a10f6c-edf5-4774-8347-509021fad678
id: c5d64fbc-f41d-11ee-a3fb-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "tesla-annual-reports/tsla-10k_20191231-gen_0.pdf", "page": 88, "chroma:document": "events\tor\tchanges\tin\tcircumstances\toccur\tthat\tcould\timpact\tthe\trecoverability\tof\tthese\tassets.\nForeign\tCurrency\nWe\tdetermine\tthe\tfunctional\tand\treporting\tcurrency\tof\teach\tof\tour\tinternational\tsubsidiaries\tand\ttheir\toperating\tdivisions\tbased\ton\tthe\tprimary\ncurrency\tin\twhich\tthey\toperate.\tIn\tcases\twhere\tthe\tfunctional\tcurrency\tis\tnot\tthe\tU.S.\tdollar,\twe\trecognize\ta\tcumulative\ttranslation\tadjustment\tcreated\nby\tthe\tdifferent\trates\twe\tapply\tto\taccumulated\tdeficits,\tincluding\tcurrent\tperiod\tincome\tor\tloss\tand\tthe\tbalance\tsheet.\tFor\teach\tsubsidiary,\twe\tapply\tthe\nmonthly\taverage\tfunctional\texchange\trate\tto\tits\tmonthly\tincome\tor\tloss\tand\tthe\tmonth-end\tfunctional\tcurrency\trate\tto\ttranslate\tthe\tbalance\tsheet.\nForeign\tcurrency\ttransaction\tgains\tand\tlosses\tare\ta\tresult\tof\tthe\teffect\tof\texchange\trate\tchanges\ton\ttransactions\tdenominated\tin\tcurrencies\nother\tthan\tthe\tfunctional\tcurrency.\tTransaction\tgains\tand\tlosses\tare\trecognized\tin\tother\tincome\t(expense),\tnet,\tin\tthe\tconsolidated\tstatements\tof\noperations.\tFor\tthe\tyears\tended\tDecember\t31,\t2019,\t2018\tand\t2017,\twe\trecorded\tforeign\tcurrency\ttransaction\tgains\tof\t$\n48\n\tmillion,\tgains\tof\t$\n2\n\tmillion\nand\tlosses\tof\t$\n52\n\tmillion,\trespectively.\n86"}


created_at: 2024-04-06 13:59:07
topic: persistent://default/default/19a10f6c-edf5-4774-8347-509021fad678
id: c5d65020-f41d-11ee-a3fb-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "tesla-annual-reports/tsla-10k_20191231-gen_0.pdf", "page": 89, "chroma:document": "Warranties\nWe\tprovide\ta\tmanufacturer\u2019s\twarranty\ton\tall\tnew\tand\tused\tvehicles\tand\tproduction\tpowertrain\tcomponents\tand\tsystems\twe\tsell.\tIn\taddition,\t\nwe\nalso\tprovide\ta\twarranty\ton\tthe\tinstallation\tand\tcomponents\tof\tthe\tenergy\tgeneration\tand\tstorage\tsystems\twe\tsell\tfor\tperiods\ttypically\tbetween\t10\tto\n25\tyears.\n\tWe\taccrue\ta\twarranty\treserve\tfor\tthe\tproducts\tsold\tby\tus,\twhich\tincludes\tour\tbest\testimate\tof\tthe\tprojected\tcosts\tto\trepair\tor\treplace\titems\nunder\twarranties\tand\trecalls\twhen\tidentified.\tThese\testimates\tare\tbased\ton\tactual\tclaims\tincurred\tto\tdate\tand\tan\testimate\tof\tthe\tnature,\tfrequency\tand\ncosts\tof\tfuture\tclaims.\tThese\testimates\tare\tinherently\tuncertain\tgiven\tour\trelatively\tshort\thistory\tof\tsales,\tand\tchanges\tto\tour\thistorical\tor\tprojected\nwarranty\texperience\tmay\tcause\tmaterial\tchanges\tto\tthe\twarranty\treserve\tin\tthe\tfuture.\tThe\twarranty\treserve\tdoes\tnot\tinclude\tprojected\twarranty\tcosts\nassociated\twith\tour\tvehicles\tsubject\tto\tlease\taccounting\tand\tour\tsolar\tenergy\tsystems\tunder\tlease\tcontracts\tor\tPPAs,\tas\tthe\tcosts\tto\trepair\tthese\nwarranty\tclaims\tare\texpensed\tas\tincurred.\tThe\tportion\tof\tthe\twarranty\treserve\texpected\tto\tbe\tincurred\twithin\tthe\tnext\t12\tmonths\tis\tincluded\twithin\naccrued\tliabilities\tand\tother,\twhile\tthe\tremaining\tbalance\tis\tincluded\twithin\tother\tlong-term\tliabilities\ton\tthe\tconsolidated\tbalance\tsheets.\tWarranty\nexpense\tis\trecorded\tas\ta\tcomponent\tof\tcost\tof\trevenues\tin\tthe\tconsolidated\tstatements\tof\toperations.\tDue\tto\tthe\tmagnitude\tof\tour\tautomotive\tbusiness,\naccrued\twarranty\tbalance\tas\tof\tDecember\t31,\t2019\twas\tprimarily\trelated\tto\tour\tautomotive\tsegment.\tAccrued\twarranty\tactivity\tconsisted\tof\tthe\nfollowing\t(in\tmillions):\t\n\t\n\t\n\t\nYear\tEnded\tDecember\t31,"}


created_at: 2024-04-06 13:59:07
topic: persistent://default/default/19a10f6c-edf5-4774-8347-509021fad678
id: c5d6507a-f41d-11ee-a3fb-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "tesla-annual-reports/tsla-10k_20191231-gen_0.pdf", "page": 89, "chroma:document": "Year\tEnded\tDecember\t31,\n\t\n\t\n\t\n2019\n\t\n\t\n2018\n\t\n\t\n2017\n\t\nAccrued\twarranty\u2014beginning\tof\tperiod\n\t\n$\n748\n\t\n\t\n$\n402\n\t\n\t\n$\n267\n\t\nAssumed\twarranty\tliability\tfrom\tacquisition\n\t\n\t\n\u2014\n\t\n\t\n\t\n\u2014\n\t\n\t\n\t\n5\n\t\nWarranty\tcosts\tincurred\n\t\n\t\n(\n250\n)\n\t\n\t\n(\n209\n)\n\t\n\t\n(\n123\n)\nNet\tchanges\tin\tliability\tfor\tpre-existing\twarranties,\tincluding\n\t\t\texpirations\tand\tforeign\texchange\timpact\n\t\n\t\n36\n\t\n\t\n\t\n(\n26\n)\n\t\n\t\n4\n\t\nAdditional\twarranty\taccrued\tfrom\tadoption\tof\tthe\tnew\trevenue\n\t\t\tstandard\n\t\n\t\n\u2014\n\t\n\t\n\t\n37\n\t\n\t\n\t\n\u2014\n\t\nProvision\tfor\twarranty\n\t\n\t\n555\n\t\n\t\n\t\n544\n\t\n\t\n\t\n249\n\t\nAccrued\twarranty\u2014end\tof\tperiod\n\t\n$\n1,089\n\t\n\t\n$\n748\n\t\n\t\n$\n402\n\t\nFor\tthe\tyears\tended\tDecember\t31,\t2019\tand\t2018\t,\tand\t2017,\twarranty\tcosts\tincurred\tfor\tvehicles\taccounted\tfor\tas\toperating\tleases\nwere\t$\n20\n\tmillion,\t$\n22\n\tmillion\tand\t$\n36\n\tmillion,\trespectively\t.\t\t\nSolar\tRenewable\tEnergy\tCredits\nWe\taccount\tfor\tsolar\trenewable\tenergy\tcredits\t(\u201cSRECs\u201d)\twhen\tthey\tare\tpurchased\tby\tus\tor\tsold\tto\tthird-parties.\tFor\tSRECs\tgenerated\tby\tsolar\nenergy\tsystems\towned\tby\tus\tand\tminted\tby\tgovernment\tagencies,\twe\tdo\tnot\trecognize\tany\tspecifically\tidentifiable\tcosts\tas\tthere\tare\tno\tspecific"}


created_at: 2024-04-06 13:59:07
topic: persistent://default/default/19a10f6c-edf5-4774-8347-509021fad678
id: c5d650d4-f41d-11ee-a3fb-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "tesla-annual-reports/tsla-10k_20191231-gen_0.pdf", "page": 89, "chroma:document": "incremental\tcosts\tincurred\tto\tgenerate\tthe\tSRECs.\tWe\trecognize\trevenue\twithin\tthe\tenergy\tgeneration\tand\tstorage\tsegment\tfrom\tthe\tsale\tof\tan\tSREC\nwhen\tthe\tSREC\tis\ttransferred\tto\tthe\tbuyer,\tand\tthe\tcost\tof\tthe\tSREC,\tif\tany,\tis\tthen\trecorded\tto\tenergy\tgeneration\tand\tstorage\tcost\tof\trevenue.\nDeferred\tInvestment\tTax\tCredit\tRevenue\nWe\thave\tsolar\tenergy\tsystems\tthat\tare\teligible\tfor\tITCs\tthat\taccrue\tto\teligible\tproperty\tunder\tthe\tInternal\tRevenue\tCode\t(\u201cIRC\u201d).\tUnder\nSection\t50(d)(5)\tof\tthe\tIRC\tand\tthe\trelated\tregulations,\ta\tlessor\tof\tqualifying\tproperty\tmay\telect\tto\ttreat\tthe\tlessee\tas\tthe\towner\tof\tsuch\tproperty\tfor\tthe\npurposes\tof\tclaiming\tthe\tITCs\tassociated\twith\tsuch\tproperty.\tThese\tregulations\tenable\tthe\tITCs\tto\tbe\tseparated\tfrom\tthe\townership\tof\tthe\tproperty\tand\nallow\tthe\ttransfer\tof\tthe\tITCs.\tUnder\tour\tlease\tpass-through\tfund\tarrangements,\twe\tcan\tmake\ta\ttax\telection\tto\tpass-through\tthe\tITCs\tto\tthe\tinvestors,\nwho\tare\tthe\tlegal\tlessee\tof\tthe\tproperty.\tTherefore,\twe\tare\table\tto\tmonetize\tthese\tITCs\tto\tthe\tinvestors\twho\tcan\tutilize\tthem\tin\treturn\tfor\tcash\npayments.\tWe\tconsider\tthe\tmonetization\tof\tITCs\tto\tconstitute\tone\tof\tthe\tkey\telements\tof\trealizing\tthe\tvalue\tassociated\twith\tsolar\tenergy\tsystems.\nConsequently,\twe\tconsider\tthe\tproceeds\tfrom\tthe\tmonetization\tof\tITCs\tto\tbe\ta\tcomponent\tof\trevenue\tgenerated\tfrom\tsolar\tenergy\tsystems.\n87"}


created_at: 2024-04-06 13:59:07
topic: persistent://default/default/19a10f6c-edf5-4774-8347-509021fad678
id: c5d65160-f41d-11ee-a3fb-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "tesla-annual-reports/tsla-10k_20191231-gen_0.pdf", "page": 90, "chroma:document": "Under\tthe\tnew\trevenue\tstandard,\twe\t\nrecognize\trevenue\tupon\tthe\tdelivery\tof\tITCs\tto\tinvestors\tunder\tour\tlease\tpass-through\tfund\tarrangements\nas\tthis\tis\tthe\tpoint\tin\ttime\tthat\tcontrol\tof\tITCs\thas\ttransferred\n.\nWe\tindemnify\tthe\tinvestors\tfor\tany\trecapture\tof\tITCs\tdue\tto\tour\tnon-compliance.\tWe\thave\tconcluded\tthat\tthe\tlikelihood\tof\ta\trecapture\tevent\tis\nremote,\tand\tconsequently,\twe\thave\tnot\trecognized\ta\tliability\tfor\tthis\tindemnification\ton\tthe\tconsolidated\tbalance\tsheets.\nNevada\tTax\tIncentives\nWe\thad\tentered\tinto\tagreements\twith\tthe\tState\tof\tNevada\tand\tStorey\tCounty\tin\tNevada\tthat\tprovide\tabatements\tfor\tsales,\tuse,\treal\tproperty,\npersonal\tproperty\tand\temployer\texcise\ttaxes,\tdiscounts\tto\tthe\tbase\ttariff\tenergy\trates\tand\ttransferable\ttax\tcredits.\tThese\tincentives\tare\tavailable\tfor\nthe\tapplicable\tperiods\tbeginning\ton\t\nOctober\t17,\t2014\n\tand\tending\ton\teither\t\nJune\t30,\t2024\n\tor\tJune\t30,\t2034\t(depending\ton\tthe\tincentive).\tUnder\tthese\nagreements,\twe\twere\teligible\tfor\ta\tmaximum\tof\t$\n195\n\tmillion\tof\ttransferable\ttax\tcredits,\tsubject\tto\tcapital\tinvestments\tby\tus\tand\tour\tpartners\tfor\nGigafactory\tNevada\tof\tat\tleast\t$\n3.50\n\tbillion,\twhich\twe\texceeded\tduring\t2017,\tand\tspecified\thiring\ttargets\tfor\tGigafactory\tNevada,\twhich\twe\texceeded\nduring\t2018.\tWe\trecorded\tthese\tcredits\tas\tearned\twhen\twe\thad\tevidence\tthere\twas\ta\tmarket\tfor\ttheir\tsale.\tCredits\twere\tapplied\tas\ta\tcost\toffset\tto\neither\temployee\texpense\tor\tto\tcapital\tassets,\tdepending\ton\tthe\tsource\tof\tthe\tcredits.\tCredits\tearned\tfrom\temployee\thires\tor\tcapital\tspending\tby\tour"}


created_at: 2024-04-06 13:59:07
topic: persistent://default/default/19a10f6c-edf5-4774-8347-509021fad678
id: c5d651ba-f41d-11ee-a3fb-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "tesla-annual-reports/tsla-10k_20191231-gen_0.pdf", "page": 90, "chroma:document": "partners\tat\tGigafactory\tNevada\twere\trecorded\tas\ta\treduction\tto\toperating\texpenses.\tAs\tof\tDecember\t31,\t2019\tand\t2018,\twe\thad\tearned\tthe\tmaximum\nof\t$\n195\n\tmillion\tof\ttransferable\ttax\tcredits\tunder\tthese\tagreements.\nRecent\tAccounting\tPronouncements\nRecently\tissued\taccounting\tpronouncements\tnot\tyet\tadopted\nIn\tJune\t2016,\tthe\tFASB\tissued\tASU\tNo.\t2016-13,\tMeasurement\tof\tCredit\tLosses\ton\tFinancial\tInstruments,\tto\trequire\tfinancial\tassets\tcarried\tat\namortized\tcost\tto\tbe\tpresented\tat\tthe\tnet\tamount\texpected\tto\tbe\tcollected\tbased\ton\thistorical\texperience,\tcurrent\tconditions\tand\tforecasts.\nSubsequently,\tthe\tFASB\tissued\tASU\tNo.\t2018-19,\tCodification\tImprovements\tto\tTopic\t326,\tto\tclarify\tthat\treceivables\tarising\tfrom\toperating\tleases\tare\nwithin\tthe\tscope\tof\tlease\taccounting\tstandards.\tFurther,\tthe\tFASB\tissued\tASU\tNo.\t2019-04,\tASU\tNo.\t2019-05,\tASU\t2019-10\tand\tASU\t2019-11\tto\nprovide\tadditional\tguidance\ton\tthe\tcredit\tlosses\tstandard.\tThe\tASUs\tare\teffective\tfor\tinterim\tand\tannual\tperiods\tbeginning\tafter\tDecember\t15,\t2019,\nwith\tearly\tadoption\tpermitted.\tAdoption\tof\tthe\tASUs\tis\ton\ta\tmodified\tretrospective\tbasis.\tWe\tplan\tto\tadopt\tthe\tASUs\ton\tJanuary\t1,\t2020.\tThe\tASUs\tare\ncurrently\tnot\texpected\tto\thave\ta\tmaterial\timpact\ton\tour\tconsolidated\tfinancial\tstatements.\nIn\tJanuary\t2017,\tthe\tFASB\tissued\tASU\tNo.\t2017-04,\tSimplifying\tthe\tTest\tfor\tGoodwill\tImpairment,\tto\tsimplify\tthe\ttest\tfor\tgoodwill\timpairment"}


created_at: 2024-04-06 13:59:07
topic: persistent://default/default/19a10f6c-edf5-4774-8347-509021fad678
id: c5d65214-f41d-11ee-a3fb-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "tesla-annual-reports/tsla-10k_20191231-gen_0.pdf", "page": 90, "chroma:document": "by\tremoving\tStep\t2.\tAn\tentity\twill,\ttherefore,\tperform\tthe\tgoodwill\timpairment\ttest\tby\tcomparing\tthe\tfair\tvalue\tof\ta\treporting\tunit\twith\tits\tcarrying\namount\tand\trecognizing\tan\timpairment\tcharge\tfor\tthe\tamount\tby\twhich\tthe\tcarrying\tamount\texceeds\tthe\tfair\tvalue,\tnot\tto\texceed\tthe\ttotal\tamount\tof\ngoodwill\tallocated\tto\tthe\treporting\tunit.\tAn\tentity\tstill\thas\tthe\toption\tto\tperform\ta\tqualitative\tassessment\tto\tdetermine\tif\tthe\tquantitative\timpairment\ntest\tis\tnecessary.\tThe\tASU\tis\teffective\tfor\tinterim\tand\tannual\tperiods\tbeginning\tafter\tDecember\t15,\t2019,\twith\tearly\tadoption\tpermitted.\tAdoption\tof\nthe\tASU\tis\tprospective.\tWe\tplan\tto\tadopt\tthe\tASU\tprospectively\ton\tJanuary\t1,\t2020.\tThe\tASU\tis\tcurrently\tnot\texpected\tto\thave\ta\tmaterial\timpact\ton\tour\nconsolidated\tfinancial\tstatements.\nIn\tAugust\t2018,\tthe\tFASB\tissued\tASU\tNo.\t2018-15,\tCustomer\u2019s\tAccounting\tfor\tImplementation\tCosts\tIncurred\tin\ta\tCloud\tComputing\nArrangement\tthat\tIs\ta\tService\tContract.\tThe\tASU\taligns\tthe\trequirements\tfor\tcapitalizing\timplementation\tcosts\tincurred\tin\ta\thosting\tarrangement\tthat\nis\ta\tservice\tcontract\twith\tthe\trequirements\tfor\tcapitalizing\timplementation\tcosts\tincurred\tto\tdevelop\tor\tobtain\tinternal-use\tsoftware\t(and\thosting\narrangements\tthat\tinclude\tan\tinternal-use\tsoftware\tlicense).\tThe\tASU\tis\teffective\tfor\tinterim\tand\tannual\tperiods\tbeginning\tafter\tDecember\t15,\t2019,\nwith\tearly\tadoption\tpermitted.\tAdoption\tof\tthe\tASU\tis\teither\tretrospective\tor\tprospective.\tWe\tplan\tto\tadopt\tthe\tASU\tprospectively\ton\tJanuary\t1,\t2020.\nThe\tASU\tis\tcurrently\tnot\texpected\tto\thave\ta\tmaterial\timpact\ton\tour\tconsolidated\tfinancial\tstatements.\n88"}


created_at: 2024-04-06 13:59:07
topic: persistent://default/default/19a10f6c-edf5-4774-8347-509021fad678
id: c5d6526e-f41d-11ee-a3fb-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "tesla-annual-reports/tsla-10k_20191231-gen_0.pdf", "page": 91, "chroma:document": "In\tDecember\t2019,\tthe\tFASB\tissued\tASU\tNo.\t2019-12,\tSimplifying\tthe\tAccounting\tfor\tIncome\tTaxes,\tas\tpart\tof\tits\tinitiative\tto\treduce\ncomplexity\tin\taccounting\tstandards.\tThe\tamendments\tin\tthe\tASU\tare\teffective\tfor\tfiscal\tyears\tbeginning\tafter\tDecember\t15,\t2020,\tincluding\tinterim\nperiods\ttherein.\tEarly\tadoption\tof\tthe\tstandard\tis\tpermitted,\tincluding\tadoption\tin\tinterim\tor\tannual\tperiods\tfor\twhich\tfinancial\tstatements\thave\tnot\tyet\nbeen\tissued.\tWe\thave\tnot\tearly\tadopted\tthis\tASU\tfor\t2019.\t\tThe\tASU\tis\tcurrently\tnot\texpected\tto\thave\ta\tmaterial\timpact\ton\tour\tconsolidated\tfinancial\nstatements.\nRecently\tadopted\taccounting\tpronouncements\nIn\tFebruary\t2016,\tthe\tFASB\tissued\tASU\tNo.\t2016-02,\tLeases,\tto\trequire\tlessees\tto\trecognize\tall\tleases,\twith\tlimited\texceptions,\ton\tthe\tbalance\tsheet,\nwhile\trecognition\ton\tthe\tstatement\tof\toperations\twill\tremain\tsimilar\tto\tlegacy\tlease\taccounting,\tASC\t840.\tThe\tASU\talso\teliminates\treal\testate-specific\nprovisions\tand\tmodifies\tcertain\taspects\tof\tlessor\taccounting.\tSubsequently,\tthe\tFASB\tissued\tASU\tNo.\t2018-10\n,\tCodification\tImprovements\tto\tTopic\t842\n,\tASU\nNo.\t2018-11,\t\nTargeted\tImprovements\n,\n\t\nASU\tNo.\t2018-20,\n\tNarrow-Scope\tImprovements\tfor\tLessors\n,\tand\tASU\t2019-01,\t\nCodification\tImprovements\n,\tto\tclarify\nand\tamend\tthe\tguidance\tin\tASU\tNo.\t2016-02.\tWe\tadopted\tthe\tASUs\ton\tJanuary\t1,\t2019\ton\ta\tmodified\tretrospective\tbasis\tthrough\ta\tcumulative\tadjustment\tto"}


created_at: 2024-04-06 13:59:07
topic: persistent://default/default/19a10f6c-edf5-4774-8347-509021fad678
id: c5d652c8-f41d-11ee-a3fb-0242ac1c000c
encoding: FLOAT32
metadata:
{"source": "tesla-annual-reports/tsla-10k_20191231-gen_0.pdf", "page": 91, "chroma:document": "our\tbeginning\taccumulated\tdeficit\tbalance.\tPrior\tcomparative\tperiods\thave\tnot\tbeen\trecast\tunder\tthis\tmethod,\tand\twe\tadopted\tall\tavailable\tpractical\nexpedients,\tas\tapplicable.\tFurther,\tsolar\tleases\tthat\tcommence\ton\tor\tafter\tJanuary\t1,\t2019,\twhere\twe\tare\tthe\tlessor\tand\twhich\twere\taccounted\tfor\tas\tleases\nunder\tASC\t840,\twill\tno\tlonger\tmeet\tthe\tdefinition\tof\ta\tlease.\tInstead,\tsolar\tleases\tcommencing\ton\tor\tafter\tJanuary\t1,\t2019\twill\tbe\taccounted\tfor\tunder\tthe\tnew\nrevenue\tstandard.\tIn\taddition\tto\trecognizing\toperating\tleases\tthat\twere\tpreviously\tnot\trecognized\ton\tthe\tconsolidated\tbalance\tsheet,\tour\tbuild-to-suit\tleases\nwere\talso\tde-recognized\twith\ta\tnet\tdecrease\tof\tapproximately\t$\n97\n\tmillion\tto\tour\tbeginning\taccumulated\tdeficit\tafter\tincome\ttax\teffects,\tas\tour\tbuild-to-suit\nleases\tno\tlonger\tqualify\tfor\tbuild-to-suit\taccounting\tand\tare\tinstead\trecognized\tas\toperating\tleases.\tUpon\tadoption,\tour\tconsolidated\tbalance\tsheet\tinclude\tan\noverall\treduction\tin\tassets\tof\t$\n473\n\tmillion\tand\ta\treduction\tin\tliabilities\tof\t$\n570\n\tmillion.\tThe\tadoption\tof\tthe\tASUs\tdid\tnot\thave\ta\tmaterial\timpact\ton\tthe\nconsolidated\tstatement\tof\toperations\tor\tthe\tconsolidated\tstatement\tof\tcash\tflows.\nIn\tAugust\t2017,\tthe\tFASB\tissued\tASU\tNo.\t2017-12,\t\nTargeted\tImprovements\tto\tAccounting\tfor\tHedging\tActivities\n,\tto\tsimplify\tthe\tapplication\tof\ncurrent\thedge\taccounting\tguidance.\tThe\tASU\texpands\tand\trefines\thedge\taccounting\tfor\tboth\tnon-financial\tand\tfinancial\trisk\tcomponents\tand\taligns\tthe\nrecognition\tand\tpresentation\tof\tthe\teffects\tof\tthe\thedging\tinstrument\tand\tthe\thedged\titem\tin\tthe\tfinancial\tstatements.\tWe\tadopted\tthe\tASU"}


