Document_and_Entity_Informatio
Document and Entity Information (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Jan. 31, 2014 | Jun. 30, 2013 | |
Document And Entity Information [Abstract] | ' | ' | ' |
Document Type | '10-K | ' | ' |
Amendment Flag | 'false | ' | ' |
Document Period End Date | 31-Dec-13 | ' | ' |
Document Fiscal Year Focus | '2013 | ' | ' |
Document Fiscal Period Focus | 'FY | ' | ' |
Trading Symbol | 'TSLA | ' | ' |
Entity Registrant Name | 'TESLA MOTORS INC | ' | ' |
Entity Central Index Key | '0001318605 | ' | ' |
Current Fiscal Year End Date | '--12-31 | ' | ' |
Entity Well-known Seasoned Issuer | 'Yes | ' | ' |
Entity Current Reporting Status | 'Yes | ' | ' |
Entity Voluntary Filers | 'No | ' | ' |
Entity Filer Category | 'Large Accelerated Filer | ' | ' |
Entity Common Stock, Shares Outstanding | ' | 123,191,938 | ' |
Entity Public Float | ' | ' | $9,911,123,918 |
Consolidated_Balance_Sheets
Consolidated Balance Sheets (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Current assets | ' | ' |
Cash and cash equivalents | $845,889 | $201,890 |
Restricted cash | 3,012 | 19,094 |
Accounts receivable | 49,109 | 26,842 |
Inventory | 340,355 | 268,504 |
Prepaid expenses and other current assets | 27,574 | 8,438 |
Total current assets | 1,265,939 | 524,768 |
Operating lease vehicles, net | 382,425 | 10,071 |
Property, plant and equipment, net | 738,494 | 552,229 |
Restricted cash | 6,435 | 5,159 |
Other assets | 23,637 | 21,963 |
Total assets | 2,416,930 | 1,114,190 |
Current liabilities | ' | ' |
Accounts payable | 303,969 | 303,382 |
Accrued liabilities | 108,252 | 39,798 |
Deferred revenue | 91,882 | 1,905 |
Capital lease obligations, current portion | 7,722 | 4,365 |
Customer deposits | 163,153 | 138,817 |
Convertible debt, current portion | 182 | ' |
Long-term debt, current portion | ' | 50,841 |
Total current liabilities | 675,160 | 539,108 |
Common stock warrant liability | ' | 10,692 |
Capital lease obligations, less current portion | 12,855 | 9,965 |
Deferred revenue, less current portion | 181,180 | 3,060 |
Convertible debt, less current portion | 586,119 | ' |
Resale value guarantee | 236,299 | ' |
Long-term debt, less current portion | 0 | 401,495 |
Other long-term liabilities | 58,197 | 25,170 |
Total liabilities | 1,749,810 | 989,490 |
Commitments and contingencies (Note 12) | ' | ' |
Stockholders' equity: | ' | ' |
Preferred stock; $0.001 par value; 100,000,000 shares authorized; no shares issued and outstanding | ' | ' |
Common stock; $0.001 par value; 2,000,000,000 shares authorized as of December 31, 2013 and 2012, respectively; 123,090,990 and 114,214,274 shares issued and outstanding as of December 31, 2013 and 2012, respectively | 123 | 115 |
Additional paid-in capital | 1,806,617 | 1,190,191 |
Accumulated deficit | -1,139,620 | -1,065,606 |
Total stockholders' equity | 667,120 | 124,700 |
Total liabilities and stockholders' equity | $2,416,930 | $1,114,190 |
Consolidated_Balance_Sheets_Pa
Consolidated Balance Sheets (Parenthetical) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
Statement Of Financial Position [Abstract] | ' | ' |
Preferred stock par value | $0.00 | $0.00 |
Preferred stock shares authorized | 100,000,000 | 100,000,000 |
Preferred stock shares issued | 0 | 0 |
Preferred stock shares outstanding | 0 | 0 |
Common stock par value | $0.00 | $0.00 |
Common stock shares authorized | 2,000,000,000 | 2,000,000,000 |
Common stock shares issued | 123,090,990 | 114,214,274 |
Common stock shares outstanding | 123,090,990 | 114,214,274 |
Consolidated_Statements_of_Ope
Consolidated Statements of Operations (USD $) | 12 Months Ended | ||
In Thousands, except Share data, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Revenues | ' | ' | ' |
Automotive sales | $1,997,786 | $385,699 | $148,568 |
Development services | 15,710 | 27,557 | 55,674 |
Total revenues | 2,013,496 | 413,256 | 204,242 |
Cost of revenues | ' | ' | ' |
Automotive sales | 1,543,878 | 371,658 | 115,482 |
Development services | 13,356 | 11,531 | 27,165 |
Total cost of revenues | 1,557,234 | 383,189 | 142,647 |
Gross profit | 456,262 | 30,067 | 61,595 |
Operating expenses | ' | ' | ' |
Research and development | 231,976 | 273,978 | 208,981 |
Selling, general and administrative | 285,569 | 150,372 | 104,102 |
Total operating expenses | 517,545 | 424,350 | 313,083 |
Loss from operations | -61,283 | -394,283 | -251,488 |
Interest income | 189 | 288 | 255 |
Interest expense | -32,934 | -254 | -43 |
Other income (expense), net | 22,602 | -1,828 | -2,646 |
Loss before income taxes | -71,426 | -396,077 | -253,922 |
Provision for income taxes | 2,588 | 136 | 489 |
Net loss | ($74,014) | ($396,213) | ($254,411) |
Net loss per share of common stock, basic and diluted | ($0.62) | ($3.69) | ($2.53) |
Weighted average shares used in computing net loss per share of common stock, basic and diluted | 119,421,414 | 107,349,188 | 100,388,815 |
Consolidated_Statements_of_Com
Consolidated Statements of Comprehensive Loss (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Statement Of Income And Comprehensive Income [Abstract] | ' | ' | ' |
Net loss | $74,014 | $396,213 | $254,411 |
Other comprehensive income (loss), net of tax: | ' | ' | ' |
Unrealized net loss on short-term marketable securities | ' | ' | -3 |
Reclassification adjustment for gain included in net income | ' | 3 | ' |
Other comprehensive income (loss) | ' | 3 | -3 |
Comprehensive loss | $74,014 | $396,210 | $254,414 |
Consolidated_Statements_of_Sto
Consolidated Statements of Stockholders' Equity (USD $) | Total | Common Stock [Member] | Additional Paid-In Capital [Member] | Accumulated Deficit [Member] | Accumulated Other Comprehensive Loss [Member] |
In Thousands, except Share data | |||||
Balance at Dec. 31, 2010 | $207,048 | $95 | $621,935 | ($414,982) | ' |
Balance, shares at Dec. 31, 2010 | ' | 94,908,370 | ' | ' | ' |
Issuance of common stock public offering, shares | ' | 6,095,000 | ' | ' | ' |
Issuance of common stock private placement, shares | ' | 2,053,475 | ' | ' | ' |
Issuance of common stock upon exercise of stock options, net of repurchases, shares | 1,216,669 | 1,250,002 | ' | ' | ' |
Issuance of common stock under employee stock purchase plan, shares | ' | 223,458 | ' | ' | ' |
Issuance of common stock public offering | 172,409 | 6 | 172,403 | ' | ' |
Issuance of common stock private placement | 59,058 | 2 | 59,056 | ' | ' |
Issuance of common stock upon exercise of stock options, net of repurchases | 6,643 | 1 | 6,642 | ' | ' |
Issuance of common stock under employee stock purchase plan | 3,882 | ' | 3,882 | ' | ' |
Stock-based compensation | 29,419 | ' | 29,419 | ' | ' |
Net loss | -254,411 | ' | ' | -254,411 | ' |
Unrealized loss on short-term marketable securities, net | -3 | ' | ' | ' | -3 |
Total comprehensive loss | -254,414 | ' | ' | ' | ' |
Balance at Dec. 31, 2011 | 224,045 | 104 | 893,337 | -669,393 | -3 |
Balance, shares at Dec. 31, 2011 | ' | 104,530,305 | ' | ' | ' |
Issuance of common stock public offering, shares | ' | 7,964,601 | ' | ' | ' |
Issuance of common stock upon exercise of stock options, net of repurchases, shares | 1,312,439 | 1,345,842 | ' | ' | ' |
Issuance of common stock under employee stock purchase plan, shares | 373,526 | 373,526 | ' | ' | ' |
Issuance of common stock public offering | 221,491 | 8 | 221,483 | ' | ' |
Issuance of common stock upon exercise of stock options, net of repurchases | 16,500 | 2 | 16,498 | ' | ' |
Issuance of common stock under employee stock purchase plan | 8,389 | 1 | 8,388 | ' | ' |
Stock-based compensation | 50,485 | ' | 50,485 | ' | ' |
Net loss | -396,213 | ' | ' | -396,213 | ' |
Unrealized loss on short-term marketable securities, net | 3 | ' | ' | ' | 3 |
Total comprehensive loss | -396,210 | ' | ' | ' | ' |
Balance at Dec. 31, 2012 | 124,700 | 115 | 1,190,191 | -1,065,606 | ' |
Balance, shares at Dec. 31, 2012 | ' | 114,214,274 | ' | ' | ' |
Issuance of common stock public offering, shares | ' | 3,902,862 | ' | ' | ' |
Issuance of common stock private placement, shares | ' | 596,272 | ' | ' | ' |
Conversion feature of convertible senior notes due 2018, Shares | ' | ' | ' | ' | ' |
Issuance of common stock upon exercise of stock options, net of repurchases, shares | 3,852,673 | 3,852,673 | ' | ' | ' |
Issuance of common stock upon release of restricted stock units, net of shares withheld for employee taxes, shares | ' | 6,166 | ' | ' | ' |
Issuance of common stock under employee stock purchase plan, shares | 518,743 | 518,743 | ' | ' | ' |
Issuance of common stock public offering | 353,632 | 3 | 353,629 | ' | ' |
Issuance of common stock private placement | 55,001 | 1 | 55,000 | ' | ' |
Conversion feature of convertible senior notes due 2018 | 82,842 | ' | 82,842 | ' | ' |
Purchase of bond hedges | -177,540 | ' | -177,540 | ' | ' |
Sales of warrant | 120,318 | ' | 120,318 | ' | ' |
Issuance of common stock upon exercise of stock options, net of repurchases | 82,573 | 3 | 82,570 | ' | ' |
Issuance of common stock upon release of restricted stock units, net of shares withheld for employee taxes | -1,116 | ' | -1,116 | ' | ' |
Issuance of common stock under employee stock purchase plan | 13,849 | 1 | 13,848 | ' | ' |
Stock-based compensation | 86,875 | ' | 86,875 | ' | ' |
Net loss | -74,014 | ' | ' | -74,014 | ' |
Total comprehensive loss | -74,014 | ' | ' | ' | ' |
Balance at Dec. 31, 2013 | $667,120 | $123 | $1,806,617 | ($1,139,620) | ' |
Balance, shares at Dec. 31, 2013 | ' | 123,090,990 | ' | ' | ' |
Consolidated_Statements_of_Sto1
Consolidated Statements of Stockholders' Equity (Parenthetical) (USD $) | 12 Months Ended | ||
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Statement Of Stockholders Equity [Abstract] | ' | ' | ' |
Common stock issued, per share | $92.20 | $28.25 | $28.76 |
Common stock initial public offering issuance costs | $6,367 | $584 | $305 |
Common stock issued private placement, per share | $92.20 | ' | $28.76 |
Consolidated_Statements_of_Cas
Consolidated Statements of Cash Flows (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Cash Flows From Operating Activities | ' | ' | ' |
Net loss | ($74,014) | ($396,213) | ($254,411) |
Adjustments to reconcile net loss to net cash provided by (used in) operating activities: | ' | ' | ' |
Depreciation and amortization | 106,083 | 28,825 | 16,919 |
Stock-based compensation | 80,737 | 50,145 | 29,419 |
Amortization of discount on convertible debt | 9,143 | ' | ' |
Inventory write-downs | 8,648 | 4,929 | 1,828 |
Write-off of Department of Energy (DOE) loan origination costs | 5,558 | ' | ' |
Change in fair value of DOE warrant liability | -10,692 | 1,854 | 2,750 |
Other non-cash operating activities | 3,611 | 1,560 | 233 |
Foreign currency transaction gain | 3,655 | ' | ' |
Changes in operating assets and liabilities | ' | ' | ' |
Accounts receivable | -21,917 | -17,303 | -2,829 |
Inventories and operating lease vehicles | -463,270 | -194,726 | -13,638 |
Prepaid expenses and other current assets | -17,466 | 1,121 | -248 |
Other assets | -342 | -482 | -288 |
Accounts payable | -243 | 187,821 | 19,891 |
Accrued liabilities | 66,837 | 9,603 | 10,620 |
Deferred revenue | 268,153 | -526 | -1,927 |
Customer deposits | 24,243 | 47,056 | 61,006 |
Resale value guarantee | 236,299 | ' | ' |
Other long-term liabilities | 32,971 | 10,255 | 2,641 |
Net cash provided by (used in) operating activities | 257,994 | -266,081 | -128,034 |
Cash Flows From Investing Activities | ' | ' | ' |
Purchases of property and equipment excluding capital leases | -264,224 | -239,228 | -184,226 |
Withdrawals out of our dedicated Department of Energy account, net | 14,752 | 8,620 | 50,121 |
(Increase) decrease in other restricted cash | 55 | -1,330 | -3,201 |
Purchases of marketable securities | ' | -14,992 | -64,952 |
Maturities of short-term marketable securities | ' | 40,000 | 40,000 |
Net cash used in investing activities | -249,417 | -206,930 | -162,258 |
Cash Flows From Financing Activities | ' | ' | ' |
Proceeds from convertible debt | 660,000 | ' | ' |
Proceeds from issuance of common stock in public offering | 360,000 | 221,496 | 172,410 |
Proceeds from issuance of warrants | 120,318 | ' | ' |
Proceeds from exercise of stock options and other stock issuances | 95,307 | 24,885 | 10,525 |
Proceeds from issuance of common stock in private placement | 55,000 | ' | 59,058 |
Principal payments on DOE loans | -452,337 | -12,710 | ' |
Purchase of convertible note hedges | -177,540 | ' | ' |
Common stock and convertible debt issuance costs | -16,901 | ' | ' |
Principal payments on capital leases and other debt | -8,425 | -2,832 | -416 |
Proceeds from DOE loans | ' | 188,796 | 204,423 |
Net cash provided by financing activities | 635,422 | 419,635 | 446,000 |
Net increase (decrease) in cash and cash equivalents | 643,999 | -53,376 | 155,708 |
Cash and cash equivalents at beginning of period | 201,890 | 255,266 | 99,558 |
Cash and cash equivalents at end of period | 845,889 | 201,890 | 255,266 |
Supplemental Disclosures | ' | ' | ' |
Interest paid | 9,041 | 6,938 | 3,472 |
Income taxes paid | 257 | 117 | 282 |
Supplemental noncash investing activities | ' | ' | ' |
Acquisition of property and equipment | $38,789 | $44,890 | $15,592 |
Overview_of_the_Company
Overview of the Company | 12 Months Ended |
Dec. 31, 2013 | |
Accounting Policies [Abstract] | ' |
Overview of the Company | ' |
1. Overview of the Company | |
Tesla Motors, Inc. (Tesla, we, us or our) was incorporated in the state of Delaware on July 1, 2003. We design, develop, manufacture and sell high-performance fully electric vehicles and advanced electric vehicle powertrain components. We have wholly-owned subsidiaries in North America, Europe and Asia. The primary purpose of these subsidiaries is to market, manufacture, sell and/or service our vehicles. | |
Correction of Prior Year Amounts | |
In conjunction with our Annual Report on Form 10-K for the year ended December 31, 2012 filed with the Securities and Exchange Commission (SEC) on March 7, 2013, we revised our consolidated statement of cash flows for the year ended December 31, 2011 to correct an immaterial error. Amounts related to purchases of property and equipment during 2011 that were not paid as of December 31, 2011 were erroneously included as cash outflows from investing activities in our previously issued financial statements. This revision resulted in a $13.7 million decrease in purchases of property and equipment included in cash flows used in investing activities and a corresponding increase in the change in accounts payable resulting in an increase in cash flows used in operating activities. We also revised our supplemental disclosure of noncash acquisition of property and equipment by an increase of $12.9 million for 2011. | |
There was no impact on previously reported total cash and cash equivalents, consolidated balance sheets or consolidated statements of operations. |
Summary_of_Significant_Account
Summary of Significant Accounting Policies | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Accounting Policies [Abstract] | ' | ||||||||||||
Summary of Significant Accounting Policies | ' | ||||||||||||
2. Summary of Significant Accounting Policies | |||||||||||||
Basis of Consolidation | |||||||||||||
The consolidated financial statements include the accounts of Tesla and its wholly owned subsidiaries. All significant inter-company transactions and balances have been eliminated in consolidation. | |||||||||||||
Use of Estimates | |||||||||||||
The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent liabilities at the date of the financial statements, and reported amounts of expenses during the reporting period, including revenue recognition, residual value of operating lease vehicles, inventory valuation, warranties, fair value of financial instruments and stock-based compensation. Actual results could differ from those estimates. | |||||||||||||
Revenue Recognition | |||||||||||||
We recognize revenues from sales of Model S and the Tesla Roadster, including vehicle options and accessories, vehicle service and sales of regulatory credits, such as zero emission vehicle (ZEV) and greenhouse gas emission (GHG) credits, as well as sales of electric vehicle powertrain components and systems, such as battery packs and drive units and sales of services related to the development of these systems. We recognize revenue when: (i) persuasive evidence of an arrangement exists; (ii) delivery has occurred and there are no uncertainties regarding customer acceptance; (iii) fees are fixed or determinable; and (iv) collection is reasonably assured. | |||||||||||||
For multiple deliverable revenue arrangements, we allocate revenue to each element based on a selling price hierarchy. The selling price for a deliverable is based on its vendor specific objective evidence (VSOE) if available, third party evidence (TPE) if VSOE is not available, or estimated selling price if neither VSOE nor TPE is available. | |||||||||||||
Automotive Sales | |||||||||||||
Automotive sales consisted of the following for the periods presented (in thousands): | |||||||||||||
Year Ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Vehicle, options and related sales | $ | 1,952,684 | $ | 354,344 | $ | 101,708 | |||||||
Powertrain component and related sales | 45,102 | 31,355 | 46,860 | ||||||||||
Total automotive sales | $ | 1,997,786 | $ | 385,699 | $ | 148,568 | |||||||
Automotive sales consist primarily of revenue earned from the sales of the Model S, Tesla Roadster, vehicle service, and vehicle options, accessories and destination charges as well as sales of regulatory credits. Automotive sales also consist of revenue earned from the sales of electric vehicle powertrain components and systems, such as battery packs and drive units, to other automotive manufacturers. Sales or other amounts collected in advance of meeting all of the revenue recognition criteria are not recognized in the consolidated statements of operations and are instead recorded as deferred revenue on the consolidated balance sheets. | |||||||||||||
In regards to the sale of Model S and the Tesla Roadster, revenue is generally recognized when all risks and rewards of ownership are transferred to our customers. In certain circumstances, we may deliver a vehicle to a customer without all of the options ordered by the customer if the options do not limit the functionality of the vehicle. In such cases, we will continue to defer the related revenue based on the undelivered item’s fair value, as evidenced by the contractual price of the option in stand-alone transactions, where available, or using the selling price hierarchy where such prices do not exist. Additionally, if a customer purchases a vehicle option that requires us to provide services in the future, we will defer the related revenue based on the undelivered items’ fair value and recognize the associated revenue over our expected performance period. | |||||||||||||
While the sale of vehicle option may take place separately from a vehicle sale, they are often part of a single vehicle sales agreement resulting in multiple element arrangements. To determine the appropriate accounting for recognition of our revenue, we consider whether the deliverables specified in the multiple element arrangement should be treated as separate units of accounting, and, if so, how the price should be allocated among the elements, when to recognize revenue for each element, and the period over which revenue should be recognized. We also evaluate whether a delivered item has value on a stand-alone basis prior to delivery of the remaining items by determining whether we have made separate sales of such items or whether the undelivered items are essential to the functionality of the delivered items. Further, we assess whether we know the fair value of the undelivered items, determined by reference to stand-alone sales of such items. To date, we have generally been able to establish the fair value for each of the deliverables within these multiple element arrangements because we sell each of the vehicles, vehicle accessories and options separately, outside of any multiple element arrangements. As each of these items has stand-alone value to the customer, revenue from sales of vehicle accessories and options are recognized when those specific items are delivered to the customer. In the case of access to our Supercharger network and connectivity, we use our best estimate of selling price and TPE, respectively, to allocate fair value to the deliverables to be recognized over our expected performance period. As of December 31, 2013, we had deferred $10.3 million related to access to our Supercharger network and $0.7 million related to connectivity. | |||||||||||||
Resale Value Guarantee | |||||||||||||
In April 2013, we began offering a resale value guarantee to all customers who purchased a Model S in the United States and financed their vehicle through one of our specified commercial banking partners, and in October 2013, we introduced this program in Canada. Under the program, Model S customers have the option of selling their vehicle back to us during the period of 36 to 39 months after delivery for a pre-determined resale value. Although we receive the full amount of cash for the vehicle sales price at delivery, we account for transactions under the resale value guarantee program as operating leases. Accordingly, we defer and amortize to automotive sales revenue the initial purchase consideration less resale value guarantee amount on a straight-line basis, over the contractual term of the guarantee program (i.e., the proxy operating lease term). Similarly, we capitalize and depreciate the cost of the respective operating lease vehicles less expected salvage value to cost of automotive sales over the same period. If a customer decides not to sell their vehicle back to us by the end of the resale value guarantee term, or the resale value guarantee is forfeited, any unamortized deferred revenue (including the amount of the resale value guarantee) and operating lease vehicle net book value is then recognized in automotive sales and cost of automotive sales, respectively. | |||||||||||||
The resale value guarantee amount represents management’s best estimate as to the resale value of the Model S vehicle and related vehicle options during the 36 to 39 month period after delivery. Since we are depreciating our operating lease vehicles to the resale value guarantee amount, which approximates the expected salvage value of our operating lease vehicles at the end of their economic useful life (i.e. the end of their expected operating lease term), we will adjust our depreciation estimates as needed, if the expected salvage value is projected to be lower in future periods. As we accumulate more actual data related to the resale experience of Model S, we may be required to make significant changes to our estimates. | |||||||||||||
Account activity related to our resale value guarantee program consisted of the following for the period presented (in thousands): | |||||||||||||
Year ended | |||||||||||||
December 31, 2013 | |||||||||||||
Operating lease vehicles under the resale value guarantee program—beginning of period | $ | — | |||||||||||
Increase in operating lease vehicles under the resale value guarantee program | 396,361 | ||||||||||||
Depreciation expense recorded in cost of automotive sales | 17,171 | ||||||||||||
Additional depreciation expense recorded in cost of automotive sales as a result of early cancellation of resale value guarantee | 2,211 | ||||||||||||
Operating lease vehicles under the resale value guarantee program—end of period | $ | 376,979 | |||||||||||
Deferred revenue related to the resale value gurantee program—beginning of period | $ | — | |||||||||||
Increase in deferred revenue related to Model S deliveries with resale value guarantee | 259,962 | ||||||||||||
Amortization of deferred revenue recorded in automotive sales | 27,654 | ||||||||||||
Additional revenue recorded in automotive sales as a result of early cancellation of resale value guarantee | 1,452 | ||||||||||||
Deferred revenue related to the resale value gurantee program—end of period | $ | 230,856 | |||||||||||
Resale value guarantee liability—beginning of period | $ | — | |||||||||||
Increase in resale value guarantee | 237,620 | ||||||||||||
Additional revenue recorded in automotive sales as a result of early cancellation of resale value guarantee | 1,322 | ||||||||||||
Resale value guarantee liability—end of period | $ | 236,298 | |||||||||||
Regulatory Credits Sales | |||||||||||||
California and certain other states have laws in place requiring vehicle manufacturers to ensure that a portion of the vehicles delivered for sale in that state during each model year are zero emission vehicles. These laws and regulations provide that a manufacturer of zero emission vehicles may earn regulatory credits, and may sell excess credits to other manufacturers who apply such credits to comply with these regulatory requirements. Similar regulations exist at the federal level that require compliance related to GHG emissions and also allow for the sale of excess credits by one manufacturer to other manufacturers. As a manufacturer solely of zero emission vehicles, we have earned emission credits, such as ZEV and GHG credits on vehicles, and we expect to continue to earn these credits in the future. Since all of our commercial vehicles are electric, we do not receive any compliance benefit from the generation of these credits, and accordingly look to sell them to other vehicle manufacturers. In order to facilitate the sale of these credits, we enter into contractual agreements with third parties requiring them to purchase our regulatory credits at pre-determined prices. We recognize revenue on the sale of these credits at the time legal title to the credits is transferred to the purchasing party by the governmental agency issuing the credits. Revenue from the sale of regulatory credits totaled $194.4 million, $40.5 million and $2.7 million for the years ended December 31, 2013, 2012 and 2011, respectively. | |||||||||||||
Maintenance and Service Plans | |||||||||||||
We offer a prepaid maintenance program for Model S, which includes plans covering maintenance for up to eight years or up to 100,000 miles, provided these services are purchased within a specified period of time. The maintenance plans cover annual inspections and the replacement of wear and tear parts, excluding tires and the battery, with either a fixed fee per visit for Tesla Ranger service or unlimited Tesla Ranger visits for a higher initial purchase price. Payments collected in advance of the performance of service are initially recorded in deferred revenues on the consolidated balance sheets and recognized in automotive sales as we fulfill our performance obligations. | |||||||||||||
We also offer an extended service plan, which covers the repair or replacement of Model S parts for an additional four years or up to an additional 50,000 miles, after the end of our initial New Vehicle Limited Warranty, provided they are purchased within a specified period of time. For customers that are not covered by our New Vehicle Limited Warranties or our extended service plans, we offer Tesla Ranger service at a higher cost. Payments collected in advance of the performance of service are initially recorded in deferred revenues on the consolidated balance sheets and recognized in automotive sales ratably over the service coverage periods. | |||||||||||||
As of December 31, 2013 and 2012, we had deferred $27.3 million and $1.5 million, respectively, related to our maintenance and service plans. During the years ended December 31, 2013 and 2012, we recognized revenue of $0.7 million and $0.1 million related to these plans, respectively. | |||||||||||||
We provided Tesla Roadster customers with the opportunity to purchase an extended warranty plan for the period after the end of our initial New Vehicle Limited Warranty to cover additional services for an additional three years or 36,000 miles. We refer to this program as our Extended Service plan. Amounts collected on these sales are initially recorded in deferred revenues on the consolidated balance sheets and recognized in automotive sales over the extended warranty period. As of December 31, 2013 and 2012, we had deferred $1.6 million and $1.5 million, respectively. During the years ended December 31, 2013 and 2012, we recognized revenue of $0.3 million and $0.5 million related to this program, respectively. | |||||||||||||
Additionally, we have previously provided customers of our Tesla Roadsters with a one-time option to replace the battery packs in their vehicles at any time after the expiration of the New Vehicle Limited Warranty but before the tenth anniversary of the purchase date of their vehicles. We refer to this program as our Battery Replacement program. Amounts collected on these sales are initially recorded in deferred revenues on the consolidated balance sheets and recognized in automotive sales as we fulfill our obligation to replace the battery packs. As of December 31, 2013 and 2012, we had deferred $1.3 million and $1.2 million, respectively, related to the Battery Replacement program and have not yet recognized any related revenues. | |||||||||||||
Development Services Revenue | |||||||||||||
Revenue from development services arrangements consist of revenue earned from the development of electric vehicle powertrain components and systems for other automobile manufacturers, including the design and development of battery packs, drive units and sample vehicles to meet a customer’s specifications. Revenue is recognized as the performance requirements of each development arrangement are met and collection is reasonably assured. Where development arrangements include substantive at-risk milestones, revenue is recognized based upon the achievement of the contractually-defined milestones. Amounts collected in advance of meeting all of the revenue recognition criteria are not recognized in the consolidated statement of operations and are instead recorded as deferred revenue on the consolidated balance sheets. Costs of development services are expensed as incurred. When development services arrangements have multiple elements, we evaluate the separability of the various deliverables to ensure appropriate revenue recognition. Costs of development services incurred in periods prior to the finalization of an agreement are recorded as research and development expenses; once an agreement is finalized, these costs are recorded in cost of revenues. | |||||||||||||
Cash and Cash Equivalents | |||||||||||||
All highly liquid investments with an original or remaining maturity of three months or less at the date of purchase are considered to be cash equivalents. We currently invest excess cash primarily in money market funds. | |||||||||||||
Marketable Securities | |||||||||||||
Marketable securities have historically been comprised of commercial paper and corporate debt and are all designated as available-for-sale and reported at estimated fair value, with unrealized gains and losses recorded in accumulated other comprehensive loss which is included within stockholders’ equity. Realized gains and losses on the sale of available-for-sale marketable securities are recorded in other income (expense), net. The cost of available-for-sale marketable securities sold is based on the specific identification method. Interest, dividends, amortization and accretion of purchase premiums and discounts on our marketable securities are included in other income (expense), net. Available-for-sale marketable securities with maturities greater than three months at the date of purchase and remaining maturities of one year or less are classified as short-term marketable securities. Where temporary declines in fair value exist, we have the ability and the intent to hold these securities for a period of time sufficient to allow for any anticipated recovery in fair value. | |||||||||||||
When held, we regularly review all of our marketable securities for other-than-temporary declines in fair value. The review includes but is not limited to (i) the consideration of the cause of the impairment, (ii) the creditworthiness of the security issuers, (iii) the length of time a security is in an unrealized loss position, and (iv) our ability to hold the security for a period of time sufficient to allow for any anticipated recovery in fair value. | |||||||||||||
Restricted Cash and Deposits | |||||||||||||
We maintain certain cash amounts restricted as to withdrawal or use. We maintained total restricted cash of $9.4 million and $24.3 million as of December 31, 2013 and 2012, respectively. Restricted cash as of December 31, 2012 primarily represented cash held in separate dedicated accounts required under our Department of Energy (DOE) loan facility (see Note 6) and was used as a mechanism to defer advances under the DOE loan facility as well as to pre-fund planned loan repayments. Upon termination of the DOE loan facility in May 2013, $29.3 million held in these dedicated accounts were released by the DOE. Current and noncurrent restricted cash as of December 31, 2013 was comprised primarily of security deposits held by vendors as part of the vendors’ standard credit policies, security deposits related to lease agreements and equipment financing, and certain refundable customer deposits segregated in accordance with state consumer protection regulations. | |||||||||||||
Accounts Receivable and Allowance for Doubtful Accounts | |||||||||||||
Accounts receivable primarily include amounts related to sales of powertrain systems and regulatory credits to other global automotive manufacturers (OEMs). In circumstances where we are aware of a specific customer’s inability to meet its financial obligations to us, we provide an allowance against amounts receivable to reduce the net recognized receivable to the amount we reasonably believe will be collected. We typically do not carry accounts receivable related to our vehicle and related sales as customer payments are due prior to vehicle delivery, except for the amounts due from commercial financial institutions for approved financing arrangements between our customers and the financial institutions. | |||||||||||||
Concentration of Risk | |||||||||||||
Credit Risk | |||||||||||||
Financial instruments that potentially subject us to a concentration of credit risk consist of cash, cash equivalents, restricted cash and accounts receivable. Our cash equivalents are primarily invested in money market funds with high credit quality financial institutions in the United States. At times, these deposits and securities may be in excess of insured limits. We invest cash not required for use in operations in high credit quality securities based on our investment policy. Our investment policy provides guidelines and limits regarding credit quality, investment concentration, investment type, and maturity that we believe will provide liquidity while reducing risk of loss of capital. Historically, when held, investments were of a short-term nature and included investments in corporate debt securities. | |||||||||||||
As of December 31, 2013 and 2012, our accounts receivable were derived primarily from sales of regulatory credits, as well as the development and sales of powertrain components and systems to OEMs. Accounts receivable also included amounts to be received from commercial financial institutions for approved financing arrangements between our customers and the financial institutions. | |||||||||||||
The following summarizes the accounts receivable from our OEM customers in excess of 10% of our total accounts receivable: | |||||||||||||
December 31, | December 31, | ||||||||||||
2013 | 2012 | ||||||||||||
Customer A | 30 | % | 56 | % | |||||||||
Customer B | 9 | % | 15 | % | |||||||||
Supply Risk | |||||||||||||
Although there may be multiple suppliers available, many of the components used in our vehicles are purchased by us from a single source. If these single source suppliers fail to satisfy our requirements on a timely basis at competitive prices, we could suffer manufacturing delays, a possible loss of revenues, or incur higher cost of sales, any of which could adversely affect our operating results. | |||||||||||||
Inventories and Inventory Valuation | |||||||||||||
Inventories are stated at the lower of cost or market. Cost is computed using standard cost, which approximates actual cost on a first-in, first-out basis. We record inventory write-downs based on reviews for excess and obsolescence determined primarily by future demand forecasts. We also adjust the carrying value of our inventories when we believe that the net realizable value is less than the carrying value. These write-downs are measured as the difference between the cost of the inventory, including estimated costs to complete, and estimated selling prices. Once inventory is written down, a new, lower-cost basis for that inventory is established, and subsequent changes in facts and circumstances do not result in the restoration or increase in that newly established cost basis. | |||||||||||||
Property, Plant and Equipment | |||||||||||||
Property, plant and equipment are recognized at cost less accumulated depreciation. Depreciation is generally computed using the straight-line method over the estimated useful lives of the related assets as follows: | |||||||||||||
Computer equipment and software | 3 years | ||||||||||||
Office furniture, machinery and equipment | 3 to 12 years | ||||||||||||
Building and building improvements | 30 years | ||||||||||||
Depreciation for tooling is computed using the units-of-production method whereby capitalized costs are amortized over the total estimated productive life of the related assets. During the year ended December 31, 2013, we increased the estimated productive life for tooling from 125,000 vehicles to 150,000 vehicles based on our current estimates of production. | |||||||||||||
Leasehold improvements are amortized on a straight-line basis over the shorter of their estimated useful lives or the term of the related lease. | |||||||||||||
Upon the retirement or sale of our property, plant and equipment, the cost and related accumulated depreciation are removed from the balance sheet and the resulting gain or loss is reflected in operations. Maintenance and repair expenditures are expensed as incurred, while major improvements that increase functionality of the asset are capitalized and depreciated ratably to expense over the identified useful life. Land is not depreciated. | |||||||||||||
Interest expense on outstanding debt is capitalized during the period of significant capital asset construction. Capitalized interest on construction in progress is included in property, plant and equipment, and is amortized over the life of the related assets. | |||||||||||||
Operating Lease Vehicles | |||||||||||||
Vehicles delivered under our resale value guarantee program, vehicles that are leased as part of our leasing program as well as any vehicles that are sold with a significant buy-back guarantee are classified as operating lease vehicles as the related revenue transactions are treated as operating leases. Operating lease vehicles are recorded at cost less accumulated depreciation. Depreciation is computed using the straight-line method over the expected operating lease term. The total cost of operating lease vehicles recorded in the consolidated balance sheets as of December 31, 2013 and 2012 was $401.9 million and $13.4 million, respectively. Accumulated depreciation related to leased vehicles as of December 31, 2013 and 2012 was $19.5 million and $3.3 million, respectively. | |||||||||||||
Intangible Assets | |||||||||||||
Intangible assets with finite useful lives are amortized over their estimated useful lives. As of December 31, 2013 and 2012, intangible assets were comprised of emission permits related to our Tesla Factory. Although these emission permits have a longer useful life than the Tesla Factory, they are related to the operation of our Tesla Factory and therefore, are amortized over the same useful life. | |||||||||||||
Long-lived Assets | |||||||||||||
We evaluate our long-lived assets, including intangible assets, for indicators of possible impairment when events or changes in circumstances indicate the carrying amount of an asset (or asset group) may not be recoverable. Impairment exists if the carrying amounts of such assets exceed the estimates of future net undiscounted cash flows expected to be generated by such assets. Should impairment exist, the impairment loss would be measured based on the excess carrying value of the asset over the asset’s estimated fair value. As of December 31, 2013 and 2012, we did not record any material impairment losses on our long-lived assets. | |||||||||||||
Research and Development Costs | |||||||||||||
Research and development costs are expensed as incurred. Research and development expenses consist primarily of payroll, benefits and stock-based compensation of those employees engaged in research, design and development activities, costs related to design tools, license expenses related to intellectual property, supplies and services, depreciation and other occupancy costs. Also included in research and development are development services costs incurred, if any, prior to the finalization of agreements with our development services customers as reaching a final agreement and revenue recognition is not assured. Development services costs incurred after the finalization of an agreement are recorded in cost of revenues. | |||||||||||||
Advertising and Promotion Costs | |||||||||||||
Advertising and sales promotion costs are expensed as incurred. During the years ended December 31, 2013, 2012 and 2011, advertising, promotion and related marketing expenses were $9.0 million, $3.9 million and $2.9 million, respectively. | |||||||||||||
Shipping and Handling Costs | |||||||||||||
Amounts billed to customers related to shipping and handling are classified as revenue, and related shipping and handling costs are included in cost of revenues. | |||||||||||||
Income Taxes | |||||||||||||
Income taxes are computed using the asset and liability method, under which deferred tax assets and liabilities are determined based on the difference between the financial statement and tax bases of assets and liabilities using enacted tax rates in effect for the year in which the differences are expected to affect taxable income. Valuation allowances are established when necessary to reduce deferred tax assets to the amount expected to be realized. | |||||||||||||
We record liabilities related to uncertain tax positions when, despite our belief that our tax return positions are supportable, we believe that it is more likely than not that those positions may not be fully sustained upon review by tax authorities. Accrued interest and penalties related to unrecognized tax benefits are classified as income tax expense. | |||||||||||||
Stock-based Compensation | |||||||||||||
We recognize compensation expense for costs related to all share-based payments, including stock options, restricted stock units (RSUs) and our employee stock purchase plan (the ESPP). The fair value of stock options and the ESPP are estimated on the grant date and offering date using an option pricing model, respectively. The fair value of RSUs is measured on the grant date based on the closing fair market value of our common stock. Stock-based compensation expense is recognized on a straight-line basis over the requisite service period, net of estimated forfeitures. | |||||||||||||
We account for equity instruments issued to non-employees based on the fair value of the awards. The fair value of the awards granted to non-employees is re-measured as the awards vest and the resulting change in fair value, if any, is recognized in the consolidated statements of operations during the period the related services are rendered. | |||||||||||||
For performance-based awards, stock-based compensation expense is recognized over the expected performance achievement period of individual performance milestones when the achievement of each individual performance milestone becomes probable. | |||||||||||||
For performance-based awards with a vesting schedule based entirely on the attainment of both performance and market conditions, the stock-based compensation expense is recognized for each pair of performance and market conditions over the longer of the expected achievement period of the performance and market conditions, beginning at the point in time that the relevant performance condition is considered probable of being met (see Note 8). | |||||||||||||
Foreign Currency Remeasurement and Transactions | |||||||||||||
For each of our foreign subsidiaries, the functional currency is the U.S. Dollar. For these foreign subsidiaries, monetary assets and liabilities denominated in non-U.S. currencies are re-measured to U.S. Dollars using current exchange rates in effect at the balance sheet date. Non-monetary assets and liabilities denominated in non-U.S. currencies are maintained at historical U.S. Dollar exchange rates. Revenues and expenses are re-measured at average U.S. Dollar monthly rates. | |||||||||||||
Foreign currency transaction gains and losses are a result of the effect of exchange rate changes on transactions denominated in currencies other than the functional currency. Transaction gains and losses are recognized in other income (expense), net, in the consolidated statements of operations. For the year ended December 31, 2013, we recorded foreign currency transaction gains of $11.9 million. For the years ended December 2012 and 2011, foreign currency transaction gains and losses were not significant. | |||||||||||||
Comprehensive Loss | |||||||||||||
Comprehensive loss is comprised of net loss and other comprehensive income (loss). Other comprehensive income (loss) consists of unrealized gains and losses on our available-for-sale marketable securities that have been excluded from the determination of net loss. | |||||||||||||
Warranties | |||||||||||||
We provide a warranty on all vehicle, production powertrain components and systems sales, and we accrue warranty reserves at the time a vehicle or production powertrain component or system is delivered to the customer. Warranty reserves include management’s best estimate of the projected costs to repair or to replace any items under warranty, based on actual warranty experience as it becomes available and other known factors that may impact our evaluation of historical data. For new vehicles, warranty reserves are based on management’s best estimate of projected warranty experience until adequate historical data is accumulated. Our warranty reserves do not include projected warranty costs associated with our resale value guarantee vehicles as such actual warranty costs are expensed as incurred. For the year ended December 31, 2013, warranty costs incurred for our resale value guarantee vehicles was $1.6 million. We may have material changes as we accumulate more actual data and experience. We review our reserves at least quarterly to ensure that our accruals are adequate in meeting expected future warranty obligations, and we will adjust our estimates as needed. Warranty expense is recorded as a component of cost of revenues in the consolidated statements of operations. The portion of the warranty provision which is expected to be incurred within 12 months from the balance sheet date is classified as current, while the remaining amount is classified as long-term. | |||||||||||||
We began recording warranty reserves with the commencement of Tesla Roadster sales in 2008. Initially, Tesla Roadsters were sold with a warranty of three years or 36,000 miles, which we extended to four years or 50,000 miles for the purchasers of our 2008 Tesla Roadster. Tesla Roadster customers had the opportunity to purchase an Extended Service plan for the period after the end of the New Vehicle Limited Warranty to cover additional services for an additional three years or 36,000 miles, provided they are purchased within a specified period of time. | |||||||||||||
In June 2012, we commenced deliveries of Model S. For our Model S customers, we provide a four year or 50,000 miles New Vehicle Limited Warranty, subject to separate limited warranties for the supplemental restraint system and battery. The New Vehicle Limited Warranty also covers the battery for a period of eight years or 125,000 miles or unlimited miles, depending on the size of the vehicle’s battery, although the battery’s charging capacity is not covered. Model S customers also have the opportunity to purchase an Extended Service plan for the period after the end of the New Vehicle Limited Warranty to cover additional services for an additional four years or 50,000 miles, provided they are purchased within a specified period of time. The battery pack’s charging capacity is not covered under the New Vehicle Limited Warranty or any Extended Service plan. Accrued warranty activity consisted of the following for the periods presented (in thousands): | |||||||||||||
Year Ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Accrued warranty—beginning of period | $ | 13,013 | $ | 6,315 | $ | 5,417 | |||||||
Warranty costs incurred | (19,160 | ) | (3,424 | ) | (2,750 | ) | |||||||
Net changes in liability for pre-existing warranties, including expirations | (2,072 | ) | — | — | |||||||||
Provision for warranty | 61,401 | 10,122 | 3,648 | ||||||||||
Accrued warranty—end of period | $ | 53,182 | $ | 13,013 | $ | 6,315 | |||||||
Environmental Liabilities | |||||||||||||
We are subject to federal and state laws and regulations for the protection of the environment, including those related to the discharge of hazardous materials and remediation of contaminated sites. In October 2010, we completed the purchase of our Tesla Factory located in Fremont, California from New United Motor Manufacturing, Inc. (NUMMI). NUMMI has previously identified environmental conditions at the Fremont site which could affect soil and groundwater. As the owner of the Fremont site, we may be responsible for the entire investigation and remediation of any environmental contamination at the Fremont site, whether it occurred before or after the date we purchased the property. Upon the completion of the purchase in October 2010, we recorded the fair value of the environmental liabilities that we estimated to be $5.3 million. The fair value of these liabilities was determined based on an expected value analysis of the related potential costs to investigate, remediate and manage various environmental conditions that were identified as part of NUMMI’s facility decommissioning activities as well as our own diligence efforts. Estimated potential costs are not discounted to present value as the timing of payments cannot be reasonably estimated. We assess adequacy of our accrued environmental liabilities for investigation and remediation of any environmental contamination at least quarterly and adjust our estimates as appropriate. As of December 31, 2013 and 2012, we accrued a total of $5.5 million and $5.3 million related to these environmental liabilities, respectively (see Note 12). | |||||||||||||
Net Loss per Share of Common Stock | |||||||||||||
Our basic and diluted net loss per share of common stock is calculated by dividing net loss by the weighted-average shares of common stock outstanding for the period. Potentially dilutive shares, which are based on the number of shares underlying outstanding stock options and warrants as well as our Notes, are not included when their effect is antidilutive. | |||||||||||||
The following table presents the potential weighted common shares outstanding that were excluded from the computation of basic and diluted net loss per share of common stock for the periods, related to the following securities: | |||||||||||||
Year Ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Stock options | 13,881,355 | 25,007,776 | 15,806,663 | ||||||||||
Convertible senior notes | 411,560 | — | — | ||||||||||
Employee stock purchase plan | 23,296 | 59,763 | 39,131 | ||||||||||
Restricted stock units | 224 | — | — | ||||||||||
DOE warrant | 1,061,439 | 2,342,353 | 2,220,617 | ||||||||||
Common stock subject to repurchase | — | — | 278 | ||||||||||
Since we will settle the principal amount of our 1.50% convertible senior notes (see Note 6) in cash, we use the treasury stock method for calculating any potential dilutive effect of the conversion spread on diluted net income per share, if applicable. The conversion spread will have a dilutive impact on diluted net income per share of common stock when the average market price of our common stock for a given period exceeds the conversion price of $124.52 per share. |
Balance_Sheet_Components
Balance Sheet Components | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Organization Consolidation And Presentation Of Financial Statements [Abstract] | ' | ||||||||
Balance Sheet Components | ' | ||||||||
3. Balance Sheet Components | |||||||||
Inventory | |||||||||
As of December 31, 2013 and 2012, our inventory consisted of the following (in thousands): | |||||||||
December 31, | December 31, | ||||||||
2013 | 2012 | ||||||||
Raw materials | $ | 184,665 | $ | 163,637 | |||||
Work in process | 42,500 | 24,535 | |||||||
Finished goods | 69,324 | 62,559 | |||||||
Service parts | 43,866 | 17,773 | |||||||
Total | $ | 340,355 | $ | 268,504 | |||||
We write down inventory as a result of excess and obsolescence, or when we believe that the net realizable value of inventories is less than the carrying value. During the years ended December 31, 2013, 2012 and 2011, we recorded write-downs of $8.6 million, $5.0 million and $1.8 million, respectively, in cost of automotive sales. | |||||||||
Property, Plant and Equipment | |||||||||
As of December 31, 2013 and 2012, our property, plant and equipment, net, consisted of the following (in thousands): | |||||||||
December 31, | December 31, | ||||||||
2013 | 2012 | ||||||||
Machinery, equipment and office furniture | $ | 322,394 | $ | 223,745 | |||||
Tooling | 230,385 | 172,584 | |||||||
Leasehold improvements | 94,763 | 39,224 | |||||||
Building and building improvements | 67,707 | 50,574 | |||||||
Land | 45,020 | 26,391 | |||||||
Computer equipment and software | 42,073 | 22,125 | |||||||
Construction in progress | 76,294 | 75,129 | |||||||
878,636 | 609,772 | ||||||||
Less: Accumulated depreciation and amortization | (140,142 | ) | (57,543 | ) | |||||
Total | $ | 738,494 | $ | 552,229 | |||||
Construction in progress is comprised primarily of assets related to the manufacturing of our Model S, including building improvements at our Tesla Factory in Fremont, California as well as tooling and manufacturing equipment and capitalized interest expense. Depreciation of these assets begins when they are ready for their intended use. Interest expense on outstanding debt is capitalized during the period of significant capital asset construction. Capitalized interest on construction in progress is included in property, plant and equipment, and is amortized over the life of the related assets. During the years ended December 31, 2013 and 2012, we capitalized $3.5 million and $7.6 million of interest expense, respectively. | |||||||||
Depreciation and amortization expense during the years ended December 31, 2013, 2012 and 2011 were $83.9 million, $25.3 million and $14.6 million, respectively. Total property and equipment assets under capital lease as of December 31, 2013 and 2012 were $23.3 million and $8.1 million, respectively. Accumulated depreciation related to assets under capital lease as of these dates were $5.0 million and $1.0 million, respectively. | |||||||||
Other Assets | |||||||||
As of December 31, 2013 and 2012, our other assets consisted of the following (in thousands): | |||||||||
December 31, | December 31, | ||||||||
2013 | 2012 | ||||||||
Emission permits | $ | 13,930 | $ | 14,267 | |||||
Debt issuance costs, net | 7,315 | — | |||||||
Loan facility issuance costs, net | — | 5,759 | |||||||
Other | 2,392 | 1,937 | |||||||
Total | $ | 23,637 | $ | 21,963 | |||||
Emission permits are related to the operation of our Tesla Factory; therefore, we amortize the emission permits over the same useful life. Debt issuance costs are related to the 1.50% convertible senior notes (Notes) issued in May 2013 (see Note 6). Loan facility issuance costs associated with our DOE loan facility (see Note 6) were written-off to interest expense during the year ended December 31, 2013 upon the extinguishment of our DOE loan facility in May 2013. | |||||||||
Accrued Liabilities | |||||||||
As of December 31, 2013 and 2012, our accrued liabilities consisted of the following (in thousands): | |||||||||
December 31, | December 31, | ||||||||
2013 | 2012 | ||||||||
Taxes payable | $ | 38,067 | $ | 9,710 | |||||
Payroll and related costs | 26,535 | 15,525 | |||||||
Accrued warranty, current portion | 19,917 | 3,056 | |||||||
Accrued purchases | 19,023 | 10,334 | |||||||
Environmental liabilities, current portion | 2,132 | — | |||||||
Other | 2,578 | 1,173 | |||||||
Total | $ | 108,252 | $ | 39,798 | |||||
Other Long-Term Liabilities | |||||||||
As of December 31, 2013 and 2012, our other long-term liabilities consisted of the following (in thousands): | |||||||||
December 31, | December 31, | ||||||||
2013 | 2012 | ||||||||
Accrued warranty, less current portion | $ | 33,265 | $ | 9,957 | |||||
Deferred rent liability | 9,886 | 6,075 | |||||||
Deferred tax liabilities | 6,821 | 330 | |||||||
Environmental liabilities, less current portion | 3,364 | 5,300 | |||||||
Other | 4,861 | 3,508 | |||||||
Total | $ | 58,197 | $ | 25,170 | |||||
Fair_Value_of_Financial_Instru
Fair Value of Financial Instruments | 12 Months Ended | ||||||||||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||||||||||
Fair Value Disclosures [Abstract] | ' | ||||||||||||||||||||||||||||||||
Fair Value of Financial Instruments | ' | ||||||||||||||||||||||||||||||||
4. Fair Value of Financial Instruments | |||||||||||||||||||||||||||||||||
The carrying values of our financial instruments including cash equivalents, marketable securities, accounts receivable and accounts payable approximate their fair value due to their short-term nature. As a basis for determining the fair value of certain of our assets and liabilities, we established a three-tier fair value hierarchy which prioritizes the inputs used in measuring fair value as follows: (Level I) observable inputs such as quoted prices in active markets; (Level II) inputs other than the quoted prices in active markets that are observable either directly or indirectly; and (Level III) unobservable inputs in which there is little or no market data which requires us to develop our own assumptions. This hierarchy requires us to use observable market data, when available, and to minimize the use of unobservable inputs when determining fair value. Our financial assets that are measured at fair value on a recurring basis consist of cash equivalents and marketable securities. Our liabilities that are measured at fair value on a recurring basis have consisted historically of our common stock warrant liability. | |||||||||||||||||||||||||||||||||
All of our cash equivalents and current restricted cash, which are comprised primarily of money market funds, are classified within Level I of the fair value hierarchy because they are valued using quoted market prices or market prices for similar securities. Our common stock warrant liability (see Note 6) was classified within Level III of the fair value hierarchy. | |||||||||||||||||||||||||||||||||
As of December 31, 2013 and 2012, the fair value hierarchy for our financial assets and financial liabilities that are carried at fair value was as follows (in thousands): | |||||||||||||||||||||||||||||||||
December 31, 2013 | December 31, 2012 | ||||||||||||||||||||||||||||||||
Fair Value | Level I | Level II | Level III | Fair Value | Level I | Level II | Level III | ||||||||||||||||||||||||||
Money market funds | $ | 460,313 | $ | 460,313 | $ | — | $ | — | $ | 60,272 | $ | 60,272 | $ | — | $ | — | |||||||||||||||||
Common stock warrant liability | $ | — | $ | — | $ | — | $ | — | $ | 10,692 | $ | — | $ | — | $ | 10,692 | |||||||||||||||||
The changes in the fair value of our common stock warrant liability were as follows (in thousands): | |||||||||||||||||||||||||||||||||
Year Ended December 31, | |||||||||||||||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||||||||||||||
Fair value, beginning of period | $ | 10,692 | $ | 8,838 | |||||||||||||||||||||||||||||
Change in fair value | (10,692 | ) | 1,854 | ||||||||||||||||||||||||||||||
Fair value, end of period | $ | — | $ | 10,692 | |||||||||||||||||||||||||||||
The estimated fair value of our Notes based on a market approach was approximately $914.9 million (par value of $660.0 million) as of December 31, 2013, and represents a Level II valuation. The estimated fair value of our DOE loans based on a market approach was approximately $366.9 million (par value of $452.3 million) as of December 31, 2012, and represented Level II valuations. When determining the estimated fair value of our long-term debt, we used a commonly accepted valuation methodology and market-based risk measurements that are indirectly observable, such as credit risk. |
Customer_Deposits
Customer Deposits | 12 Months Ended |
Dec. 31, 2013 | |
Text Block [Abstract] | ' |
Customer Deposits | ' |
5. Customer Deposits | |
Customer deposits consist of payments that allow potential customers to place an order for the future purchase of a Model S or Model X. These amounts are recorded as current liabilities until the vehicle is delivered. We require full payment of the purchase price of the vehicle only upon delivery of the vehicle to the customer. Amounts received by us as customer deposits are generally not restricted as to their use by us. Upon delivery of the vehicle, the related customer deposits are applied against the customer’s total purchase price for the vehicle and recognized in automotive sales as part of the respective vehicle sale. | |
Historically, we have referred to such customer deposits as reservation payments and these initial reservation payments have been fully refundable until such time that the customer selected the vehicle specifications and entered into a purchase agreement. We have eliminated the reservation process for Model S in North America and in most of our markets in Europe, as vehicle production became more reliable and customer wait times decreased. Customers now initiate their purchase by ordering their customized Model S rather than placing a generic reservation in queue. As a result of this transition away from reservations, we have renamed the “reservation payments” caption on our consolidated financial statements to “customer deposits.” Customer deposits related to Model X still represent fully refundable reservations. | |
As of December 31, 2013 and 2012, we held customer deposits of $163.2 million and $138.8 million, respectively. |
Convertible_Notes_and_Longterm
Convertible Notes and Long-term Debt Obligations | 12 Months Ended |
Dec. 31, 2013 | |
Debt Disclosure [Abstract] | ' |
Convertible Notes and Long-term Debt Obligations | ' |
6. Convertible Notes and Long-term Debt Obligations | |
1.50% Convertible Senior Notes and Bond Hedge and Warrant Transactions | |
In May 2013, we issued $660.0 million aggregate principal amount of Notes in a public offering. The net proceeds from the offering, after deducting transaction costs, were approximately $648.0 million. We incurred $12.0 million of debt issuance costs in connection with the issuance of the Notes which we recorded in other assets and are amortizing to interest expense using the effective interest method over the contractual term of the Notes. The interest under the Notes is fixed at 1.50% per annum and is payable semi-annually in arrears on June 1 and December 1 of each year, commencing on December 1, 2013. During the year ended December 31, 2013, we recognized $1.2 million of interest expense related to the amortization of debt issuance costs and $5.9 million of coupon interest expense. | |
Each $1,000 of principal of the Notes will initially be convertible into 8.0306 shares of our common stock, which is equivalent to an initial conversion price of approximately $124.52 per share, subject to adjustment upon the occurrence of specified events. Holders of the Notes may convert their Notes at their option on or after March 1, 2018. Further, holders of the Notes may convert their Notes at their option prior to March 1, 2018, only under the following circumstances: (1) during any fiscal quarter beginning after the fiscal quarter ending September 30, 2013, if the last reported sale price of our common stock for at least 20 trading days (whether or not consecutive) during the last 30 consecutive trading days of the immediately preceding fiscal quarter is greater than or equal to 130% of the conversion price on each applicable trading day; (2) during the five business day period following any five consecutive trading day period in which the trading price for the Notes is less than 98% of the average of the closing sale price of our common stock for each day during such five trading day period; or (3) if we make specified distributions to holders of our common stock or if specified corporate transactions occur. Upon conversion, we would pay the holders in cash for the principal amount of the Notes and, if applicable, shares of our common stock (subject to our right to deliver cash in lieu of all or a portion of such shares of our common stock) based on a calculated daily conversion value. If a fundamental change occurs prior to the maturity date, holders of the Notes may require us to repurchase all or a portion of their Notes for cash at a repurchase price equal to 100% of the principal amount of the Notes, plus any accrued and unpaid interest. In addition, if specific corporate events occur prior to the maturity date, we will increase the conversion rate for a holder who elects to convert its Notes in connection with such a corporate event in certain circumstances. | |
We valued and bifurcated the conversion option associated with the Notes from the host debt instrument and recorded the conversion option of $82.8 million in stockholders’ equity. The resulting debt discount on the Notes is being amortized to interest expense at an effective interest rate of 4.29% over the contractual term of the Notes. During the year ended December 31, 2013, we recognized $9.1 million of interest expense related to the amortization of the debt discount. As of December 31, 2013, the net carrying value of the Notes was $586.3 million. | |
In connection with the offering of the Notes, we entered into convertible note hedge transactions whereby we have the option to purchase up to 5.3 million shares of our common stock at a price of approximately $124.52 per share. The cost of the convertible note hedge transactions was $177.5 million. In addition, we sold warrants whereby the holders of the warrants have the option to purchase up to approximately 5.3 million shares of our common stock at a price of $184.48 per share. We received $120.3 million in cash proceeds from the sale of these warrants. Taken together, the purchase of the convertible note hedges and the sale of warrants are intended to offset any actual dilution from the conversion of the Notes and to effectively increase the overall conversion price from $124.52 to $184.48 per share. As these transactions meet certain accounting criteria, the convertible note hedges and warrants are recorded in stockholders’ equity and are not accounted for as derivatives. The net cost incurred in connection with the convertible note hedge and warrant transactions was recorded as a reduction to additional paid-in capital in the consolidated balance sheet as of December 31, 2013. | |
During the fourth quarter of 2013, the closing price of our common stock did not meet or exceed 130% of the applicable conversion price of our Notes on at least 20 of the last 30 consecutive trading days of the quarter; furthermore, no other conditions allowing holders of the Notes to convert have been met as of December 31, 2013. Therefore, the Notes are not convertible during the first quarter of 2014 and are classified as long-term debt. Should the closing price conditions be met in the first quarter of 2014 or a future quarter, the Notes will be convertible at their holders’ option during the immediately following quarters. | |
Full Repayment of Department of Energy Loan Facility | |
In May 2013, in connection with the closing of our offerings of common stock and Notes, we paid $451.8 million to settle all outstanding loan amounts of $441.0 million, including principal and interest, as well as an early repayment penalty of $10.8 million which was recorded in interest expense for the year ended December 31, 2013. Upon termination of the DOE Loan Facility, $29.3 million held in this dedicated account was released by the DOE. | |
On January 20, 2010, we entered into a loan facility with the Federal Financing Bank (FFB), and the DOE, pursuant to the Advanced Technology Vehicles Manufacturing (ATVM) Incentive Program. This loan facility was amended in June 2011 to expand our cash investment options, in February 2012 to modify the timing of certain future financial covenants and funding of the debt service reserve account, and in June and December 2012 to allow us to effect certain initiatives in our business plan. In September 2012, we entered into an amendment with the DOE to remove our obligation to comply with the current ratio financial covenant as of September 30, 2012 and amend the timing of pre-funding the principal payment due in June 2013. We entered into another amendment with the DOE in March 2013 that, among other things, modified certain future financial covenants, accelerated the maturity date of the DOE Loan Facility to December 15, 2017, created an obligation to repay approximately 1.0% of the outstanding principal under the DOE Loan Facility on or before June 15, 2013, and created additional contingent obligations based on excess cash flows that may result in accelerated repayment of the DOE Loan Facility starting in 2015. The original amortization schedule for the DOE Loan Facility was not affected by this amendment, and so the debt service payments remained the same until the new maturity date when all outstanding loans under the DOE Loan Facility were to be repaid. We refer to the loan facility with the DOE, as amended, as the DOE Loan Facility. Under the DOE Loan Facility, the FFB made available to us two multi-draw term loan facilities in an aggregate principal amount of $465.0 million. As of August 31, 2012, we had fully drawn down the aforementioned facilities. | |
All outstanding amounts under the DOE Loan Facility were repayable in quarterly installments, which commenced on December 15, 2012 and would be due on the maturity date of December 15, 2017. All obligations under the DOE Loan Facility were secured by substantially all of our property. | |
The DOE Loan Facility documents contained customary covenants that included, among others, a requirement that the projects be conducted in accordance with the business plan for such project, compliance with all requirements of the ATVM Program, and limitations on our and our subsidiaries’ ability to incur indebtedness, incur liens, make investments or loans, enter into mergers or acquisitions, dispose of assets, pay dividends or make distributions on capital stock, pay indebtedness, pay management, advisory or similar fees to affiliates, enter into certain affiliate transactions, enter into new lines of business, and enter into certain restrictive agreements, in each case subject to customary exceptions. The DOE Loan Facility documents also contained customary financial covenants requiring us to maintain a minimum ratio of current assets to current liabilities, and (i) a limit on capital expenditures, (ii) from December 31, 2013, a maximum leverage ratio, a minimum interest coverage ratio, a minimum fixed charge coverage ratio, and (iii) from March 31, 2014, a maximum ratio of total liabilities to shareholder equity. We were in compliance with our current applicable financial covenants as of March 31, 2013. The DOE Loan Facility documents also contained customary events of default, subject in some cases to customary cure periods for certain defaults. In addition, events of default included a failure of Elon Musk, our Chief Executive Officer (CEO), and certain of his affiliates, at any time prior to one year after we would complete the project relating to the Model S Facility, to own at least 65% of capital stock held by Mr. Musk and such affiliates as of the date of the DOE Loan Facility. As part of the amendment to the DOE Loan Facility in March 2013, we agreed to, among other things, (i) make an early payment of approximately 1.0% of the outstanding principal under the DOE Loan Facility on or before June 15, 2013, (ii) make additional quarterly prepayments equal to: 20% of our excess cash flow for each quarter of fiscal 2015; and 35% of our excess cash flow for each quarter of fiscal 2016 and 2017. | |
Under the DOE Loan Facility, we had agreed to pre-fund a dedicated debt service reserve account with our planned loan repayments as required by the DOE loan facility. As of December 31, 2012, $14.9 million was held in this dedicated account and classified this cash as current restricted cash on the consolidated balance sheet. | |
DOE Warrant Expiration | |
In connection with the closing of the DOE Loan Facility, we issued in January 2010 a warrant to the DOE to purchase up to 9,255,035 shares of our Series E convertible preferred stock at an exercise price of $2.51 per share. Upon the completion of our initial public offering on July 2, 2010, this preferred stock warrant became a warrant to purchase up to 3,090,111 shares of common stock at an exercise price of $7.54 per share. Since the number of shares ultimately issuable under the warrants would vary depending on the average outstanding balance of the loan during the contractual vesting period, and decisions to prepay would be influenced by our future stock price as well as the interest rates on our loans in relation to market interest rates, we had historically measured the fair value of the warrant using a Monte Carlo simulation approach. The Monte Carlo approach simulates and captures the optimal decisions to be made between prepaying the DOE loan and the cancellation of the DOE warrant. For the purposes of the simulation, the optimal decision represents the scenario with the lowest economic cost to us. The total warrant value would then be calculated as the average warrant payoff across all simulated paths discounted to our valuation date. The prepayment feature which allowed us to prepay the DOE Loan Facility, and consequently affected the number of shares ultimately issuable under the DOE warrant, was determined to represent an embedded derivative. This embedded derivative was inherently valued and accounted for as part of the warrant liability on our consolidated balance sheets. Changes to the fair value of the embedded derivative were reflected as part of the warrant liability re-measurement to fair value at each balance sheet reporting date. The warrant was recorded at its estimated fair value with changes in its fair value reflected in other income (expense), net, until its expiration or vesting. As of December 31, 2012, the fair value of the DOE warrant was $10.7 million. During the years ended December 31, 2012 and 2011, we recognized expense for the change in the fair value of the DOE warrant in the amount of $1.9 million and $2.8 million through other income (expense), net, in the consolidated statements of operations, respectively. The fair value of the warrant at issuance was $6.3 million, and along with the DOE Loan Facility fee of $0.5 million and other debt issuance costs of $0.9 million, represented a cost of closing the loan facility and was being amortized to interest expense over the expected term of the DOE Loan Facility. During the years ended December 31, 2012 and 2011, we amortized $0.6 million to interest expense, respectively. | |
As a result of our repayment of all outstanding principal and interest under the DOE Loan Facility and the termination of the DOE Loan Facility in May 2013, the DOE warrant expired. As such, we recognized other income for the change in the fair value of the DOE warrant in the amount of $10.7 million for the year ended December 31, 2013. Additionally, we amortized all remaining unamortized debt issuance costs of $5.8 million related to the DOE Loan Facility to interest expense for the year ended December 31, 2013. |
Common_Stock
Common Stock | 12 Months Ended |
Dec. 31, 2013 | |
Equity [Abstract] | ' |
Common Stock | ' |
7. Common Stock | |
In June 2011, we completed a follow-on offering of common stock in which we sold a total of 6,095,000 shares of our common stock and received cash proceeds of $172.7 million from this transaction, net of underwriting discounts. Concurrent with this offering, we also sold 1,416,000 shares of our common stock to our CEO and 637,475 shares of our common stock to Blackstar Investco LLC, an affiliate of Daimler and received total cash proceeds of $59.1 million in the private placements. No underwriting discounts or commissions were paid in connection with these private placements. | |
In October 2012, we completed a follow-on offering of common stock in which we sold a total of 7,964,601 shares of our common stock and received cash proceeds of $222.1 million (which included 35,398 shares or $1.0 million sold to our CEO) from this transaction, net of underwriting discounts and offering costs. | |
In May 2013, we completed a public offering of common stock and sold a total of 3,902,862 shares of our common stock for total cash proceeds of approximately $355.5 million (which included 487,857 shares or $45.0 million sold to our CEO), net of underwriting discounts and offering costs. We also sold 596,272 shares of our common stock to our CEO and received total cash proceeds of $55.0 million in a private placement at the public offering price. Concurrent with these equity transactions, we also issued $660.0 million principal amount of 1.50% convertible senior notes in a public offering and received total cash proceeds of approximately $648.0 million, net of underwriting discounts and offering costs (see Note 6). |
Equity_Incentive_Plans
Equity Incentive Plans | 12 Months Ended | ||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | ' | ||||||||||||||||||||||||
Equity Incentive Plans | ' | ||||||||||||||||||||||||
8. Equity Incentive Plans | |||||||||||||||||||||||||
In July 2003, we adopted the 2003 Equity Incentive Plan. Concurrent with the effectiveness of our registration statement on Form S-1 on June 28, 2010, we adopted the 2010 Equity Incentive Plan (the Plan) and all remaining common shares reserved for future grant or issuance under the 2003 Equity Incentive Plan were added to the 2010 Equity Incentive Plan. The Plan provides for the granting of stock options, RSUs and stock purchase rights to our employees, directors and consultants. Options granted under the Plan may be either incentive options or nonqualified stock options. Incentive stock options may be granted only to our employees including officers and directors. Nonqualified stock options and stock purchase rights may be granted to our employees and consultants. Generally, our stock options and RSUs vest over four years and are exercisable over a period not to exceed the contractual term of ten years from the date the stock options are granted. Continued vesting typically terminates when the employment or consulting relationship ends. As of December 31, 2013, 23,318,526 shares of common stock were reserved for issuance under the Plan. | |||||||||||||||||||||||||
The following table summarizes stock option and RSU activity under the Plan: | |||||||||||||||||||||||||
Outstanding Stock Options | Outstanding RSUs | ||||||||||||||||||||||||
Shares Available | Number of | Weighted | Number | Weighted | |||||||||||||||||||||
for Grant | Options | Average | of RSUs | Average Grant | |||||||||||||||||||||
Exercise Price | Date Fair | ||||||||||||||||||||||||
Value | |||||||||||||||||||||||||
Balance, December 31, 2010 | 9,407,975 | 13,738,122 | $ | 8.62 | — | $ | — | ||||||||||||||||||
Additional options reserved | 3,796,342 | — | — | — | — | ||||||||||||||||||||
Granted | (4,011,973 | ) | 4,011,973 | 27.49 | — | — | |||||||||||||||||||
Exercised | — | (1,216,669 | ) | 5.41 | — | — | |||||||||||||||||||
Cancelled | 726,763 | (726,763 | ) | 15.26 | — | — | |||||||||||||||||||
Balance, December 31, 2011 | 9,919,107 | 15,806,663 | 13.35 | — | — | ||||||||||||||||||||
Additional options reserved | 1,064,046 | — | — | — | — | ||||||||||||||||||||
Granted | (11,854,941 | ) | 11,854,941 | 31.18 | — | — | |||||||||||||||||||
Exercised | (1,312,439 | ) | 12.52 | — | — | ||||||||||||||||||||
Cancelled | 1,341,319 | (1,341,389 | ) | 25.51 | — | — | |||||||||||||||||||
Balance, December 31, 2012 | 469,531 | 25,007,776 | 21.2 | — | — | ||||||||||||||||||||
Additional options reserved | 3,426,428 | — | — | — | |||||||||||||||||||||
Granted | (3,345,899 | ) | 2,643,821 | 74.17 | 702,078 | 155.51 | |||||||||||||||||||
Exercised | — | (3,852,673 | ) | 21.42 | — | — | |||||||||||||||||||
Cancelled | 1,170,445 | (1,157,982 | ) | 36.47 | (12,463 | ) | 154.92 | ||||||||||||||||||
Released | — | — | — | (12,031 | ) | 160.98 | |||||||||||||||||||
Balance, December 31, 2013 | 1,720,505 | 22,640,942 | $ | 26.7 | 677,584 | $ | 155.41 | ||||||||||||||||||
In addition to stock options issued from the Plan, there were 33,333 stock options as of December 31, 2011, that we had previously granted to non-employees outside of the Plan. These outstanding non-employee options had a weighted average exercise price of $1.80 as of December 31, 2011. During the year ended December 31, 2012, these stock options were fully exercised. | |||||||||||||||||||||||||
Additional information regarding all stock options outstanding and exercisable as of December 31, 2013 is summarized below: | |||||||||||||||||||||||||
Options Outstanding | Options Exercisable | ||||||||||||||||||||||||
Range of Exercise Price | Number | Weighted | Weighted | Number | Weighted | Weighted | |||||||||||||||||||
Average | Average | Average | Average | ||||||||||||||||||||||
Exercise | Remaining | Exercise | Remaining | ||||||||||||||||||||||
Price | Contractual | Price | Contractual | ||||||||||||||||||||||
Life (in | Life (in | ||||||||||||||||||||||||
years) | years) | ||||||||||||||||||||||||
$0.15 - $6.15 | 523,182 | $ | 3.16 | 516,728 | $ | 3.16 | |||||||||||||||||||
$6.63 - $6.63 | 7,096,725 | 6.63 | 7,093,020 | 6.63 | |||||||||||||||||||||
$9.96 - $28.35 | 2,266,058 | 22.08 | 1,302,499 | 19.7 | |||||||||||||||||||||
$28.43 - $31.07 | 2,136,721 | 29.48 | 864,050 | 29.24 | |||||||||||||||||||||
$31.07 - $31.07 | 5,715,734 | 31.17 | 91,541 | 31.17 | |||||||||||||||||||||
$31.49 - $34.00 | 2,288,998 | 32.07 | 707,052 | 31.98 | |||||||||||||||||||||
$34.57 - $141.60 | 2,266,350 | 60.57 | 127,674 | 45.62 | |||||||||||||||||||||
$144.70 - $147.38 | 252,945 | 147.31 | 11,542 | 147.38 | |||||||||||||||||||||
$160.70 - $160.70 | 18,975 | 160.7 | — | — | |||||||||||||||||||||
$179.72 - $179.72 | 75,254 | 179.72 | — | — | |||||||||||||||||||||
22,640,942 | 26.7 | 6.37 | 10,714,106 | 12.37 | 4.01 | ||||||||||||||||||||
Additional information regarding all stock options outstanding and exercisable as of December 31, 2012 is summarized below: | |||||||||||||||||||||||||
Options Outstanding | Options Exercisable | ||||||||||||||||||||||||
Range of Exercise Price | Number | Weighted | Weighted | Number | Weighted | Weighted | |||||||||||||||||||
Average | Average | Average | Average | ||||||||||||||||||||||
Exercise | Remaining | Exercise | Remaining | ||||||||||||||||||||||
Price | Contractual | Price | Contractual | ||||||||||||||||||||||
Life (in | Life (in | ||||||||||||||||||||||||
years) | years) | ||||||||||||||||||||||||
$0.15 - $6.15 | 1,037,664 | $ | 3.08 | 924,801 | $ | 2.98 | |||||||||||||||||||
$6.63 - $6.63 | 7,475,413 | 6.63 | 6,456,263 | 6.63 | |||||||||||||||||||||
$9.96 - $25.27 | 2,682,735 | 19 | 1,446,362 | 17.98 | |||||||||||||||||||||
$27.25 - $29.12 | 2,522,885 | 28.18 | 801,246 | 28.3 | |||||||||||||||||||||
$29.25 - $31.07 | 1,680,276 | 30.14 | 158,300 | 30.36 | |||||||||||||||||||||
$31.17 - $31.17 | 5,865,560 | 31.17 | 19,524 | 31.17 | |||||||||||||||||||||
$31.49 - $33.15 | 2,686,684 | 31.8 | 318,914 | 31.51 | |||||||||||||||||||||
$33.22 - $34.00 | 390,314 | 33.29 | 103,184 | 33.22 | |||||||||||||||||||||
$34.57 - $34.57 | 475,275 | 34.57 | 1,750 | 34.57 | |||||||||||||||||||||
$36.01 - $36.01 | 190,970 | 36.01 | 1,549 | 36.01 | |||||||||||||||||||||
25,007,776 | 21.2 | 6.99 | 10,231,893 | 11.07 | 5.35 | ||||||||||||||||||||
The aggregate intrinsic value represents the total pretax intrinsic value (i.e., the difference between our common stock price and the exercise price, multiplied by the number of in-the-money options) that would have been received by the option holders had all option holders exercised their options. The aggregate intrinsic value of options outstanding as of December 31, 2013 and 2012 was $2.80 billion and $317.7 million, respectively. The intrinsic value of options exercisable was $1.48 billion and $233.3 million, and the intrinsic value of options vested and expected to vest was $2.80 billion and $280.7 million as of December 31, 2013 and 2012, respectively. The total intrinsic value of options exercised was $294.0 million and $35.1 million for the years ended December 31, 2013 and 2012, respectively. The aggregate intrinsic value of RSUs outstanding as of December 31, 2013 was $101.9 million. | |||||||||||||||||||||||||
Fair Value Adoption | |||||||||||||||||||||||||
We utilize the fair value method in recognizing stock-based compensation expense. Under the fair value method, we estimated the fair value of each option award and the ESPP on the grant date generally using the Black-Scholes option pricing model and the weighted average assumptions noted in the following table. | |||||||||||||||||||||||||
Year Ended December 31, | |||||||||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||||||||
Risk-free interest rate: | |||||||||||||||||||||||||
Stock options | 1.3 | % | 1 | % | 2 | % | |||||||||||||||||||
ESPP | 0.1 | % | 0.2 | % | 0.2 | % | |||||||||||||||||||
Expected term (in years): | |||||||||||||||||||||||||
Stock options | 6.1 | 5.9 | 6 | ||||||||||||||||||||||
ESPP | 0.5 | 0.5 | 0.5 | ||||||||||||||||||||||
Expected volatility: | |||||||||||||||||||||||||
Stock options | 57 | % | 63 | % | 70 | % | |||||||||||||||||||
ESPP | 43 | % | 51 | % | 59 | % | |||||||||||||||||||
Dividend yield: | |||||||||||||||||||||||||
Stock options | 0 | % | 0 | % | 0 | % | |||||||||||||||||||
ESPP | 0 | % | 0 | % | 0 | % | |||||||||||||||||||
The weighted-average grant-date fair value for option awards granted during the years ended December 31, 2013, 2012 and 2011 was $40.72, $16.37 and $17.43 per share, respectively. The weighted-average grant-date fair value for ESPP granted during the years ended December 31, 2013, 2012 and 2011 was $19.22, $8.99 and $7.52 per share, respectively. The fair value of RSUs is measured on the grant date based on the closing fair market value of our common stock. | |||||||||||||||||||||||||
Performance-Based Stock Options | |||||||||||||||||||||||||
In December 2009, our Board of Directors approved an option grant to our CEO representing 4% of our fully-diluted share base prior to such grant as of the grant date, or 3,355,986 stock options, with 1/4th of the shares vesting immediately, and 1/36th of the remaining shares scheduled to vest each month over three years, assuming continued employment through each vesting date in recognition of his and our company’s achievements and to create incentives for future success. In addition, to create incentives for the attainment of clear performance objectives around a key element of our business plan— the successful launch and commercialization of Model S—the Board of Directors approved an additional option grant to our CEO totaling an additional 4% of our fully-diluted shares prior to such grant as of the grant date, or 3,355,986 stock options, with a vesting schedule based entirely on the attainment of performance objectives as follows, assuming our CEO’s continued employment and service to us through each vesting date: | |||||||||||||||||||||||||
• | 1/4th of the shares subject to the option are scheduled to vest upon the successful completion of Model S Engineering Prototype; | ||||||||||||||||||||||||
• | 1/4th of the shares subject to the option are scheduled to vest upon the successful completion of Model S Validation Prototype; | ||||||||||||||||||||||||
• | 1/4th of the shares subject to the option are scheduled to vest upon the completion of the first Model S Production Vehicle; and | ||||||||||||||||||||||||
• | 1/4th of the shares subject to the option are scheduled to vest upon the completion of the 10,000th Model S Production Vehicle. | ||||||||||||||||||||||||
Through December 31, 2013, all performance milestones were achieved. Stock-based compensation expense related to this grant to our CEO was $0.4 million, $4.2 million and $6.3 million for the years ended December 31, 2013, 2012 and 2011, respectively. | |||||||||||||||||||||||||
Our Board of Directors also approved option grants in June and September 2010 to purchase our common stock of 666,300 and 20,000, respectively, to various members of our senior management with a vesting schedule based entirely on the attainment of the same performance objectives as those outlined for our CEO above. During the years ended December 31, 2013, 2012 and 2011, we recognized $0.8 million, $1.4 million and $4.9 million, respectively, of stock-based compensation expense related to the attainment of these performance objectives. | |||||||||||||||||||||||||
In August 2012, our Board of Directors granted 5,274,901 stock options to our CEO (2012 CEO Grant). The 2012 CEO Grant consists of ten vesting tranches with a vesting schedule based entirely on the attainment of both performance conditions and market conditions, assuming continued employment and service to us through each vesting date. | |||||||||||||||||||||||||
Each of the vesting tranches requires a combination of one of the ten pre-determined performance milestones outlined below and an incremental increase in our market capitalization of $4.0 billion, as compared to the initial market capitalization of $3.2 billion measured at the time of the 2012 CEO Grant. | |||||||||||||||||||||||||
• | Successful completion of the Model X Engineering Prototype (Alpha); | ||||||||||||||||||||||||
• | Successful completion of the Model X Vehicle Prototype (Beta); | ||||||||||||||||||||||||
• | Completion of the first Model X Production Vehicle; | ||||||||||||||||||||||||
• | Successful completion of the Gen III Engineering Prototype (Alpha); | ||||||||||||||||||||||||
• | Successful completion of the Gen III Vehicle Prototype (Beta); | ||||||||||||||||||||||||
• | Completion of the first Gen III Production Vehicle; | ||||||||||||||||||||||||
• | Gross margin of 30% or more for four consecutive quarters; | ||||||||||||||||||||||||
• | Aggregate vehicle production of 100,000 vehicles; | ||||||||||||||||||||||||
• | Aggregate vehicle production of 200,000 vehicles; and | ||||||||||||||||||||||||
• | Aggregate vehicle production of 300,000 vehicles. | ||||||||||||||||||||||||
The term of the 2012 CEO Grant is ten years, so any tranches that remain unvested at the expiration of the 2012 CEO Grant will be forfeited. In addition, unvested options will be forfeited if our CEO is no longer in that role, whether for cause or otherwise. Based on our current market valuation, we believe that the first two tranches of the 2012 CEO Grant (for successful completion of the Alpha and Beta Model X Prototypes) will vest during 2014. | |||||||||||||||||||||||||
We measured the fair value of the 2012 CEO Grant using a Monte Carlo simulation approach with the following assumptions: risk-free interest rate of 1.65%, expected term of ten years, expected volatility of 55% and dividend yield of 0%. | |||||||||||||||||||||||||
Stock-based compensation expense associated with the 2012 CEO Grant is recognized for each pair of performance and market conditions over the longer of the expected achievement period of the performance and market conditions, beginning at the point in time that the relevant performance condition is considered probable of being met. | |||||||||||||||||||||||||
As of December 31, 2013, the market conditions for three vesting tranches were achieved and the following three performance milestones were considered probable of achievement: | |||||||||||||||||||||||||
• | Successful completion of the Model X Engineering Prototype (Alpha); | ||||||||||||||||||||||||
• | Successful completion of the Model X Vehicle Prototype (Beta); | ||||||||||||||||||||||||
• | Completion of the first Model X Production Vehicle. | ||||||||||||||||||||||||
None of the stock options granted under the 2012 CEO Grant has vested thus far as the performance milestones have not yet been achieved as of December 31, 2013. However, as the above three performance milestones were considered probable of achievement, we recorded stock-based compensation expense of $14.5 million and $1.3 million for the years ended December 31, 2013 and 2012, respectively. | |||||||||||||||||||||||||
Additionally, no cash compensation has been received by our CEO for his services to the company. | |||||||||||||||||||||||||
Summary Stock Based Compensation Information | |||||||||||||||||||||||||
The following table summarizes the stock-based compensation expense by line item in the consolidated statements of operations (in thousands): | |||||||||||||||||||||||||
Year Ended December 31, | |||||||||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||||||||
Cost of sales | $ | 9,071 | $ | 2,194 | $ | 670 | |||||||||||||||||||
Research and development | 35,494 | 26,580 | 13,377 | ||||||||||||||||||||||
Selling, general and administrative | 39,090 | 21,371 | 15,372 | ||||||||||||||||||||||
Total | $ | 83,655 | $ | 50,145 | $ | 29,419 | |||||||||||||||||||
We realized no income tax benefit from stock option exercises in each of the periods presented due to recurring losses and valuation allowances. As required, we present excess tax benefits from the exercise of stock options, if any, as financing cash flows rather than operating cash flows. | |||||||||||||||||||||||||
As of December 31, 2013, we had $227.3 million of total unrecognized compensation expense, net, of estimated forfeitures, that will be recognized over a weighted-average period of 5.2 years. | |||||||||||||||||||||||||
Employee Stock Purchase Plan | |||||||||||||||||||||||||
Employees are eligible to purchase common stock through payroll deductions of up to 15% of their eligible compensation, subject to any plan limitations. The purchase price of the shares on each purchase date is equal to 85% of the lower of the fair market value of our common stock on the first and last trading days of each six-month offering period. During the years ended December 31, 2013 and 2012, 518,743 and 373,526 shares were issued under the ESPP for $13.8 million and $8.4 million, respectively. A total of 3,615,749 shares of common stock have been reserved for issuance under the ESPP, and there were 2,500,022 shares available for issuance under the ESPP as of December 31, 2013. |
Income_Taxes
Income Taxes | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Income Tax Disclosure [Abstract] | ' | ||||||||||||
Income Taxes | ' | ||||||||||||
9. Income Taxes | |||||||||||||
A provision for income taxes of $2.6 million, $0.1 million and $0.5 million has been recognized for the years ended December 31, 2013, 2012 and 2011, respectively, related primarily to our subsidiaries located outside of the United States. Our net loss before provision for income taxes for the years ended December 31, 2013, 2012 and 2011 were as follows (in thousands): | |||||||||||||
Year Ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Domestic | $ | 75,279 | $ | 396,549 | $ | 254,761 | |||||||
International | (3,853 | ) | (472 | ) | (839 | ) | |||||||
Loss before income taxes | $ | 71,426 | $ | 396,077 | $ | 253,922 | |||||||
The components of the provision for income taxes for the years ended December 31, 2013, 2012 and 2011, consisted of the following (in thousands): | |||||||||||||
Year Ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Current: | |||||||||||||
Federal | $ | — | $ | — | $ | — | |||||||
State | 178 | 23 | 29 | ||||||||||
Foreign | 2,349 | 282 | 437 | ||||||||||
Total current | 2,527 | 305 | 466 | ||||||||||
Deferred: | |||||||||||||
Federal | — | — | — | ||||||||||
State | — | — | — | ||||||||||
Foreign | 61 | (169 | ) | 23 | |||||||||
Total deferred | 61 | (169 | ) | 23 | |||||||||
Total provision for income taxes | $ | 2,588 | $ | 136 | $ | 489 | |||||||
Deferred tax assets (liabilities) as of December 31, 2013 and 2012 consisted of the following (in thousands): | |||||||||||||
December 31, | December 31, | ||||||||||||
2013 | 2012 | ||||||||||||
Deferred tax assets: | |||||||||||||
Net operating loss carry-forwards | $ | 341,172 | $ | 365,472 | |||||||||
Research and development credits | 32,175 | 21,427 | |||||||||||
Other tax credits | 166 | 120 | |||||||||||
Deferred revenue | 42,491 | 719 | |||||||||||
Inventory and warranty reserves | 23,260 | 8,272 | |||||||||||
Depreciation and amortization | 68 | 74 | |||||||||||
Stock-based compensation | 27,663 | 18,135 | |||||||||||
Convertible debt | 22,930 | — | |||||||||||
Accruals and others | 21,795 | 5,314 | |||||||||||
Total deferred tax assets | 511,720 | 419,533 | |||||||||||
Valuation allowance | (472,375 | ) | (403,006 | ) | |||||||||
Deferred tax assets, net of valutaion allowance | 39,345 | 16,527 | |||||||||||
Deferred tax liabilities: | |||||||||||||
Section 481(a) and others | — | (400 | ) | ||||||||||
Depreciation and amortization | (39,244 | ) | (15,961 | ) | |||||||||
Total deferred tax liabilities | (39,244 | ) | (16,361 | ) | |||||||||
Deferred tax assets, net of valuation allowance and deferred tax liabilities | $ | 101 | $ | 166 | |||||||||
We have revised our deferred tax assets as of December 31, 2012 to correct immaterial errors. Such revisions did not change the amount of deferred tax assets, net of valuation allowance and deferred tax liabilities presented in the prior year. | |||||||||||||
Reconciliation of statutory federal income taxes to our effective taxes for the years ended December 31, 2013, 2012 and 2011 is as follows (in thousands): | |||||||||||||
Year Ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Tax at statutory federal rate | $ | (25,001 | ) | $ | (134,702 | ) | $ | (86,333 | ) | ||||
State tax, net of federal benefit | 178 | (12,580 | ) | (8,118 | ) | ||||||||
Nondeductible expenses | 733 | 9,897 | 10,742 | ||||||||||
Foreign income rate differential | (253 | ) | 262 | (56 | ) | ||||||||
U.S. tax credits | (6,682 | ) | (2,785 | ) | (5,049 | ) | |||||||
Other reconciling items | 1,317 | 525 | 1,589 | ||||||||||
Change in valuation allowance | 32,296 | 139,519 | 87,714 | ||||||||||
Provision for income taxes | $ | 2,588 | $ | 136 | $ | 489 | |||||||
Management believes that based on the available information, it is more likely than not that the deferred tax assets will not be realized, such that a full valuation allowance is required against all U.S. deferred tax assets. | |||||||||||||
As of December 31, 2013, we had approximately $1.13 billion of federal and $663.5 million of California operating loss carry-forwards available to offset future taxable income, $246.0 million of which is associated with windfall tax benefits that will be recorded as additional paid-in capital when realized. These carryforwards will expire in varying amounts beginning in 2024 for federal and 2019 for state if unused. Additionally, we have research and development tax credits of approximately $23.5 million and $26.1 million for federal and state income tax purposes, respectively. If not utilized, the federal carry-forwards will expire in various amounts beginning in 2019. However, the state credits can be carried forward indefinitely. | |||||||||||||
We have indefinitely reinvested $5.1 million of undistributed earnings of our foreign operations outside of our U.S. tax jurisdiction as of December 31, 2013. No deferred tax liability has been recognized for the remittance of such earnings to the United States since it is our intention to utilize these earnings to fund future foreign expansions including but not limited to, hiring of additional personnel, capital purchases, expansion into larger facilities, and potential new dealerships. | |||||||||||||
Federal and state laws can impose substantial restrictions on the utilization of net operating loss and tax credit carry-forwards in the event of an “ownership change,” as defined in Section 382 of the Internal Revenue Code. We performed a study and had determined that no significant limitation would be placed on the utilization of our net operating loss and tax credit carry-forwards as a result of prior ownership changes. | |||||||||||||
Uncertain Tax Positions | |||||||||||||
The aggregate changes in the balance of our gross unrecognized tax benefits during the years ended December 31, 2013, 2012 and 2011 were as follows (in thousands): | |||||||||||||
December 31, 2010 | 16,393 | ||||||||||||
Increases in balances related to tax positions taken during current year | 1,037 | ||||||||||||
December 31, 2011 | 17,430 | ||||||||||||
Increases in balances related to tax positions taken during current year | 640 | ||||||||||||
December 31, 2012 | 18,070 | ||||||||||||
Decreases in balances related to prior year tax positions | (7,802 | ) | |||||||||||
Increases in balances related to current year tax positions | 3,102 | ||||||||||||
December 31, 2013 | $ | 13,370 | |||||||||||
The decreases in our gross unrecognized tax benefit during the year ended December 31, 2013 primarily related to prior year errors identified in the current year. Accrued interest and penalties related to unrecognized tax benefits are classified as income tax expense and was immaterial. As of December 31, 2013, unrecognized tax benefits of $11.8 million, if recognized, would not affect our effective tax rate as the tax benefits would increase a deferred tax asset which is currently fully offset with a full valuation allowance. We do not anticipate that the amount of existing unrecognized tax benefits will significantly increase or decrease within the next 12 months. We file income tax returns in the United States, California, various states and foreign jurisdictions. Tax years 2003 to 2012 remain subject to examination for federal purposes, and tax years 2003 to 2012 remain subject to examination for California purposes. All net operating losses and tax credits generated to date are subject to adjustment for U.S. federal and California purposes. Tax years 2007 to 2012 remain open for examination in other U.S. state and foreign jurisdictions. |
Information_about_Geographic_A
Information about Geographic Areas | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Segment Reporting [Abstract] | ' | ||||||||||||
Information about Geographic Areas | ' | ||||||||||||
10. Information about Geographic Areas | |||||||||||||
We have determined that we operate as one reportable segment which is the design, development, manufacturing and sales of electric vehicles and electric vehicle powertrain components. | |||||||||||||
The following tables set forth revenues and long-lived assets by geographic area (in thousands). | |||||||||||||
Revenues | |||||||||||||
Year Ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
North America | $ | 1,545,413 | $ | 355,325 | $ | 109,233 | |||||||
Europe | 467,079 | 50,318 | 84,397 | ||||||||||
Asia | 1,004 | 7,613 | 10,612 | ||||||||||
Total | $ | 2,013,496 | $ | 413,256 | $ | 204,242 | |||||||
During the years ended December 31, 2013, 2012 and 2011, we recognized revenues of $1.5 billion, $341.5 million and $103.9 million in the United States, respectively. During the year ended December 31, 2013, we recognized revenues of $217.1 million in Norway. | |||||||||||||
Long-lived Assets | |||||||||||||
December 31, | December 31, | ||||||||||||
2013 | 2012 | ||||||||||||
United States | $ | 1,091,487 | $ | 552,302 | |||||||||
International | 29,432 | 9,998 | |||||||||||
Total | $ | 1,120,919 | $ | 562,300 | |||||||||
Strategic_Partnerships
Strategic Partnerships | 12 Months Ended |
Dec. 31, 2013 | |
Contractors [Abstract] | ' |
Strategic Partnerships | ' |
11. Strategic Partnerships | |
Daimler AG | |
Daimler Mercedes-Benz EV Program | |
During the fourth quarter of 2011, Daimler engaged us to assist with the development of a full electric powertrain for a Daimler Mercedes-Benz B-Class EV vehicle. In 2012, we received two purchase orders from Daimler to begin development work and also entered into a separate development agreement. Pursuant to the development agreement, Daimler would pay us up to $33.2 million for the successful completion of certain at risk development milestones and the delivery of prototype samples. During the years ended December 31, 2013 and 2012, we completed various milestones and delivered prototype samples and recognized $15.6 million and $15.9 million in development services revenue, respectively. | |
Toyota Motor Corporation | |
Toyota RAV4 Program | |
In July 2010, we and Toyota entered into a Phase 0 agreement to initiate development of an electric powertrain for the Toyota RAV4. Under this early phase development agreement, prototypes were made by us by combining the Toyota RAV4 model with a Tesla electric powertrain. | |
During the year ended December 31, 2011, we recognized $7.6 million in development services revenue. As of December 31, 2011, we had delivered all prototypes; therefore, no additional Phase 0 revenue was recognized during the years ended December 31, 2013 and 2012. | |
In October 2010, we entered into a Phase 1 contract services agreement with Toyota for the development of a validated powertrain system, including a battery pack, power electronics module, motor, gearbox and associated software to be integrated into an electric vehicle version of the Toyota RAV4. Toyota paid $60.1 million for the successful completion of certain at risk development milestones and the delivery of prototype samples, including a $5.0 million upfront payment that we received upon the execution of the agreement. During the years ended December 31, 2012 and 2011, we completed various milestones and along with the amortization of our upfront payment and the delivery of certain prototype samples, we recognized $10.7 million and $47.4 million in development services revenue, respectively. As of March 31, 2012, all development milestones under the Phase 1 agreement had been completed; therefore, no additional revenue was recognized during the year ended December 31, 2013. | |
In July 2011, we entered into a supply and services agreement with Toyota for the supply of a validated electric powertrain system, including a battery pack, charging system, inverter, motor, gearbox and associated software, which will be integrated into an electric vehicle version of the Toyota RAV4. Additionally, we will provide Toyota with certain services related to the supply of the electric powertrain system. During the three months ended March 31, 2012, we began delivering electric powertrain systems to Toyota. During the years ended December 31, 2013 and 2012, we recognized revenue of $42.9 million and $29.1 million in automotive sales related to these sales, respectively. Our production activities under this program are expected to continue through 2014. |
Commitments_and_Contingencies
Commitments and Contingencies | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Commitments And Contingencies Disclosure [Abstract] | ' | ||||||||
Commitments and Contingencies | ' | ||||||||
12. Commitments and Contingencies | |||||||||
Operating Leases | |||||||||
Our corporate headquarters and powertrain production operations are based in Palo Alto, California where we have leased a facility consisting of 350,000 square feet. This lease expires in January 2020. We have leased a 203,772 square feet manufacturing facility in Tilburg, Netherlands through November 2023. We have also leased a number of properties in North America, Europe and Asia for our office, retail and service locations as well as Supercharger sites under non-cancelable operating leases with various expiration dates through December 2022. | |||||||||
Rent expense for the years ended December 31, 2013, 2012 and 2011 was $21.5 million, $12.1 million and $8.6 million, respectively. | |||||||||
Capital Leases | |||||||||
We have entered into various agreements to lease equipment under capital leases over terms between 36 and 60 months. The equipment under the leases are collateral for the lease obligations and are included within property, plant and equipment, net, on the consolidated balance sheets under the categories of computer equipment and software and office furniture and equipment. | |||||||||
Future minimum commitments for leases as of December 31, 2013 are as follows (in thousands): | |||||||||
Operating | Capital | ||||||||
Leases | Leases | ||||||||
2014 | $ | 27,004 | $ | 8,927 | |||||
2015 | 27,372 | 7,752 | |||||||
2016 | 26,621 | 4,512 | |||||||
2017 | 24,706 | 595 | |||||||
2018 and thereafter | 55,785 | 4 | |||||||
Total minimum lease payments | $ | 161,488 | 21,790 | ||||||
Less: Amounts representing interest not yet incurred | 1,205 | ||||||||
Present value of capital lease obligations | 20,585 | ||||||||
Less: Current portion | 7,723 | ||||||||
Long-term portion of capital lease obligations | $ | 12,862 | |||||||
Environmental Liabilities | |||||||||
In May 2010, we entered into an agreement to purchase an existing automobile production facility located in Fremont, California from New United Motor Manufacturing, Inc. (NUMMI). NUMMI has previously identified environmental conditions at the Fremont site which could affect soil and groundwater, and until recently, were undertaking efforts to address these conditions. These conditions are now being addressed by us and NUMMI. Although we have been advised by NUMMI that it has documented and managed the environmental issues and we completed a reasonable level of diligence on such environmental issues at the time we purchased the facility, we cannot determine the potential costs to remediate any pre-existing contamination with any certainty. Based on management’s best estimate, at the time of the facility purchase, we estimated the fair value of the environmental liabilities that we assumed to be $5.3 million. The fair value of these liabilities was determined based on an expected value analysis of the related potential costs to investigate, remediate and manage various environmental conditions that were identified as part of NUMMI’s facility decommissioning activities as well as our own diligence efforts. | |||||||||
We reached an agreement with NUMMI under which, over a ten year period, we will pay the first $15.0 million of any costs of any governmentally-required remediation activities for contamination that existed prior to the completion of the facility and land purchase for any known or unknown environmental conditions, and NUMMI has agreed to pay the next $15.0 million for such remediation activities. Our agreement provides, in part, that NUMMI will pay up to the first $15.0 million on our behalf if such expenses are incurred in the first four years of our agreement, subject to our reimbursement of such costs on the fourth anniversary date of the closing. Through December 31 2013, remediation costs of $2.1 million had been incurred by NUMMI; therefore, we classified $2.1 million of our $5.3 million environmental liabilities to accrued liabilities on our consolidated balance sheet as of December 31, 2013. | |||||||||
On the ten-year anniversary of the closing or whenever $30.0 million has been spent on the remediation activities, whichever comes first, NUMMI’s liability to us with respect to remediation activities ceases, and we are responsible for any and all environmental conditions at the Fremont site. At that point in time, we have agreed to indemnify, defend, and hold harmless NUMMI from all liability and we have released NUMMI for any known or unknown claims except for NUMMI’s obligations for representations and warranties under the agreement. As of December 31, 2013 and 2012, we accrued a total of $5.5 million and $5.3 million related to these environmental liabilities, respectively. As we continue with our construction and operating activities, it is reasonably possible that our estimate of environmental liabilities may change materially. | |||||||||
From time to time, we are subject to various legal proceedings that arise from the normal course of business activities. In addition, from time to time, third parties may assert intellectual property infringement claims against us in the form of letters and other forms of communication. If an unfavorable ruling were to occur, there exists the possibility of a material adverse impact on our results of operations, prospects, cash flows, financial position and brand. | |||||||||
In November 2013, a putative securities class action lawsuit was filed against Tesla in U.S. District Court, Northern District of California, alleging violations of, and seeking remedies pursuant to, Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5. The claims were originally asserted against Tesla and two of its executive officers. The current complaint seeks damages, attorney fees and other relief, and alleges, among other things, that Tesla made false and/or misleading representations and omissions including with respect to the safety of the Model S vehicle and Tesla’s ability to meet public expectations with respect to its financial performance. The current complaint is brought on behalf of a putative class consisting of “all persons other than Defendants who purchased Tesla’s securities between May 10, 2013 and November 6, 2013, inclusive.” We believe this lawsuit is without merit and intend to defend against this class action vigorously. |
Subsequent_Events
Subsequent Events | 12 Months Ended | |||
Dec. 31, 2013 | ||||
Subsequent Events [Abstract] | ' | |||
Subsequent Events | ' | |||
13. Subsequent Events | ||||
Performance-based Stock Option Grant | ||||
In January 2014, to create incentives for continued long term success beyond the Model S program and to closely align executive pay with our stockholders’ interests in the achievement of significant milestones by our company, the Compensation Committee of our Board of Directors granted stock options to certain employees to purchase 782,500 shares of our common stock. Each such grant consists of four vesting tranches with a vesting schedule based entirely on the attainment of future performance milestones, assuming continued employment and service to us through each vesting date. | ||||
• | 1/4th of the shares subject to the options are scheduled to vest upon completion of the first Model X Production Vehicle; | |||
• | 1/4th of the shares subject to the options are scheduled to vest upon achieving aggregate vehicle production of 100,000 vehicles in a trailing 12-month period; | |||
• | 1/4th of the shares subject to the options are scheduled to vest upon completion of the first Gen III Production Vehicle; and | |||
• | 1/4th of the shares subject to the options are scheduled to vest upon achievement of annualized gross margin of greater than 30.0% in any three years. |
Quarterly_Results_of_Operation
Quarterly Results of Operations | 12 Months Ended | ||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||
Quarterly Financial Information Disclosure [Abstract] | ' | ||||||||||||||||
Quarterly Results of Operations | ' | ||||||||||||||||
14. Quarterly Results of Operations (Unaudited) | |||||||||||||||||
The following table includes selected quarterly results of operations data for the years ended December 31, 2013 and 2012 (in thousands, except per share data): | |||||||||||||||||
Three months ended | |||||||||||||||||
March 31 | June 30 | September 30 | December 31 | ||||||||||||||
2013 | |||||||||||||||||
Total revenues | $ | 561,792 | $ | 405,139 | $ | 431,346 | $ | 615,219 | |||||||||
Gross profit | 96,320 | 100,483 | 102,868 | 156,590 | |||||||||||||
Net income (loss) | 11,248 | (30,502 | ) | (38,496 | ) | (16,264 | ) | ||||||||||
Net income (loss) per share, basic | 0.1 | (0.26 | ) | (0.32 | ) | (0.13 | ) | ||||||||||
Net income (loss) per share, diluted | 0 | (0.26 | ) | (0.32 | ) | (0.13 | ) | ||||||||||
2012 | |||||||||||||||||
Total revenues | $ | 30,167 | $ | 26,653 | $ | 50,104 | $ | 306,332 | |||||||||
Gross profit (loss) | 10,210 | 4,762 | (8,761 | ) | 23,857 | ||||||||||||
Net loss | (89,873 | ) | (105,603 | ) | (110,804 | ) | (89,932 | ) | |||||||||
Net loss per share, basic and diluted | (0.86 | ) | (1.00 | ) | (1.05 | ) | (0.79 | ) | |||||||||
Net loss per share, basic and diluted for the four quarters of each fiscal year may not sum to the total for the fiscal year because of the different numbers of shares outstanding during each period. |
Summary_of_Significant_Account1
Summary of Significant Accounting Policies (Policies) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Accounting Policies [Abstract] | ' | ||||||||||||
Basis of Consolidation | ' | ||||||||||||
Basis of Consolidation | |||||||||||||
The consolidated financial statements include the accounts of Tesla and its wholly owned subsidiaries. All significant inter-company transactions and balances have been eliminated in consolidation. | |||||||||||||
Use of Estimates | ' | ||||||||||||
Use of Estimates | |||||||||||||
The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent liabilities at the date of the financial statements, and reported amounts of expenses during the reporting period, including revenue recognition, residual value of operating lease vehicles, inventory valuation, warranties, fair value of financial instruments and stock-based compensation. Actual results could differ from those estimates. | |||||||||||||
Revenue Recognition | ' | ||||||||||||
Revenue Recognition | |||||||||||||
We recognize revenues from sales of Model S and the Tesla Roadster, including vehicle options and accessories, vehicle service and sales of regulatory credits, such as zero emission vehicle (ZEV) and greenhouse gas emission (GHG) credits, as well as sales of electric vehicle powertrain components and systems, such as battery packs and drive units and sales of services related to the development of these systems. We recognize revenue when: (i) persuasive evidence of an arrangement exists; (ii) delivery has occurred and there are no uncertainties regarding customer acceptance; (iii) fees are fixed or determinable; and (iv) collection is reasonably assured. | |||||||||||||
For multiple deliverable revenue arrangements, we allocate revenue to each element based on a selling price hierarchy. The selling price for a deliverable is based on its vendor specific objective evidence (VSOE) if available, third party evidence (TPE) if VSOE is not available, or estimated selling price if neither VSOE nor TPE is available. | |||||||||||||
Automotive Sales | |||||||||||||
Automotive sales consisted of the following for the periods presented (in thousands): | |||||||||||||
Year Ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Vehicle, options and related sales | $ | 1,952,684 | $ | 354,344 | $ | 101,708 | |||||||
Powertrain component and related sales | 45,102 | 31,355 | 46,860 | ||||||||||
Total automotive sales | $ | 1,997,786 | $ | 385,699 | $ | 148,568 | |||||||
Automotive sales consist primarily of revenue earned from the sales of the Model S, Tesla Roadster, vehicle service, and vehicle options, accessories and destination charges as well as sales of regulatory credits. Automotive sales also consist of revenue earned from the sales of electric vehicle powertrain components and systems, such as battery packs and drive units, to other automotive manufacturers. Sales or other amounts collected in advance of meeting all of the revenue recognition criteria are not recognized in the consolidated statements of operations and are instead recorded as deferred revenue on the consolidated balance sheets. | |||||||||||||
In regards to the sale of Model S and the Tesla Roadster, revenue is generally recognized when all risks and rewards of ownership are transferred to our customers. In certain circumstances, we may deliver a vehicle to a customer without all of the options ordered by the customer if the options do not limit the functionality of the vehicle. In such cases, we will continue to defer the related revenue based on the undelivered item’s fair value, as evidenced by the contractual price of the option in stand-alone transactions, where available, or using the selling price hierarchy where such prices do not exist. Additionally, if a customer purchases a vehicle option that requires us to provide services in the future, we will defer the related revenue based on the undelivered items’ fair value and recognize the associated revenue over our expected performance period. | |||||||||||||
While the sale of vehicle option may take place separately from a vehicle sale, they are often part of a single vehicle sales agreement resulting in multiple element arrangements. To determine the appropriate accounting for recognition of our revenue, we consider whether the deliverables specified in the multiple element arrangement should be treated as separate units of accounting, and, if so, how the price should be allocated among the elements, when to recognize revenue for each element, and the period over which revenue should be recognized. We also evaluate whether a delivered item has value on a stand-alone basis prior to delivery of the remaining items by determining whether we have made separate sales of such items or whether the undelivered items are essential to the functionality of the delivered items. Further, we assess whether we know the fair value of the undelivered items, determined by reference to stand-alone sales of such items. To date, we have generally been able to establish the fair value for each of the deliverables within these multiple element arrangements because we sell each of the vehicles, vehicle accessories and options separately, outside of any multiple element arrangements. As each of these items has stand-alone value to the customer, revenue from sales of vehicle accessories and options are recognized when those specific items are delivered to the customer. In the case of access to our Supercharger network and connectivity, we use the best estimate of selling price and third party evidence, respectively, to allocate fair value to the deliverables to be recognized over our expected performance period. As of December 31, 2013, we had deferred $10.3 million related to access to our Supercharger network and $0.7 million related to connectivity | |||||||||||||
Resale Value Guarantee | |||||||||||||
In April 2013, we began offering a resale value guarantee to all customers who purchased a Model S in the United States and financed their vehicle through one of our specified commercial banking partners, and in October 2013, we introduced this program in Canada. Under the program, Model S customers have the option of selling their vehicle back to us during the period of 36 to 39 months after delivery for a pre-determined resale value. Although we receive the full amount of cash for the vehicle sales price at delivery, we account for transactions under the resale value guarantee program as operating leases. Accordingly, we defer and amortize to automotive sales revenue the initial purchase consideration less resale value guarantee amount on a straight-line basis, over the contractual term of the guarantee program (i.e., the proxy operating lease term). Similarly, we capitalize and depreciate the cost of the respective operating lease vehicles less expected salvage value to cost of automotive sales over the same period. If a customer decides not to sell their vehicle back to us by the end of the resale value guarantee term, or the resale value guarantee is forfeited, any unamortized deferred revenue and operating lease vehicle net book value is then recognized in automotive sales and cost of automotive sales, respectively. | |||||||||||||
The resale value guarantee amount represents management’s best estimate as to the resale value of the Model S vehicle and related vehicle options during the 36 to 39 month period after delivery. Since we are depreciating our operating lease vehicles to the resale value guarantee amount, which approximates the expected salvage value of our operating lease vehicles at the end of their economic useful life (i.e. the end of their expected operating lease term), we will adjust our depreciation estimates as needed, if the expected salvage value is projected to be lower in future periods. As we accumulate more actual data related to the resale experience of Model S, we may be required to make significant changes to our estimates. | |||||||||||||
Account activity related to our resale value guarantee program consisted of the following for the period presented (in thousands): | |||||||||||||
Year ended | |||||||||||||
December 31, 2013 | |||||||||||||
Operating lease vehicles under the resale value guarantee program—beginning of period | $ | — | |||||||||||
Increase in operating lease vehicles under the resale value guarantee program | 396,361 | ||||||||||||
Depreciation expense recorded in cost of automotive sales | 17,171 | ||||||||||||
Additional depreciation expense recorded in cost of automotive sales as a result of early cancellation of resale value guarantee | 2,211 | ||||||||||||
Operating lease vehicles under the resale value guarantee program—end of period | $ | 376,979 | |||||||||||
Deferred revenue—beginning of period | $ | — | |||||||||||
Increase in deferred revenue related to Model S deliveries with resale value guarantee | 259,962 | ||||||||||||
Amortization of deferred revenue recorded in automotive sales | 27,654 | ||||||||||||
Additional revenue recorded in automotive sales as a result of early cancellation of resale value guarantee | 1,452 | ||||||||||||
Deferred revenue—end of period | $ | 230,856 | |||||||||||
Resale value guarantee liability—beginning of period | $ | — | |||||||||||
Increase in resale value guarantee | 237,620 | ||||||||||||
Additional revenue recorded in automotive sales as a result of early cancellation of resale value guarantee | 1,322 | ||||||||||||
Resale value guarantee liability—end of period | $ | 236,298 | |||||||||||
Regulatory Credits Sales | |||||||||||||
California and certain other states have laws in place requiring vehicle manufacturers to ensure that a portion of the vehicles delivered for sale in that state during each model year are zero emission vehicles. These laws and regulations provide that a manufacturer of zero emission vehicles may earn regulatory credits, and may sell excess credits to other manufacturers who apply such credits to comply with these regulatory requirements. Similar regulations exist at the federal level that require compliance related to GHG emissions and also allow for the sale of excess credits by one manufacturer to other manufacturers. As a manufacturer solely of zero emission vehicles, we have earned emission credits, such as ZEV and GHG credits on vehicles, and we expect to continue to earn these credits in the future. Since all of our commercial vehicles are electric, we do not receive any compliance benefit from the generation of these credits, and accordingly look to sell them to other vehicle manufacturers. In order to facilitate the sale of these credits, we enter into contractual agreements with third parties requiring them to purchase our regulatory credits at pre-determined prices. We recognize revenue on the sale of these credits at the time legal title to the credits is transferred to the purchasing party by the governmental agency issuing the credits. Revenue from the sale of regulatory credits totaled $194.4 million, $40.5 million and $2.7 million for the years ended December 31, 2013, 2012 and 2011, respectively. | |||||||||||||
Maintenance and Service Plans | |||||||||||||
We offer a prepaid maintenance program for Model S, which includes plans covering maintenance for up to eight years or up to 100,000 miles, provided these services are purchased within a specified period of time. The maintenance plans cover annual inspections and the replacement of wear and tear parts, excluding tires and the battery, with either a fixed fee per visit for Tesla Ranger service or unlimited Tesla Ranger visits for a higher initial purchase price. Payments collected in advance of the performance of service are initially recorded in deferred revenues on the consolidated balance sheets and recognized in automotive sales as we fulfill our performance obligations. | |||||||||||||
We also offer an extended service plan, which covers the repair or replacement of Model S parts for an additional four years or up to an additional 50,000 miles, after the end of our initial New Vehicle Limited Warranty, provided they are purchased within a specified period of time. For customers that are not covered by our New Vehicle Limited Warranties or our extended service plans, we offer Tesla Ranger service at a higher cost. Payments collected in advance of the performance of service are initially recorded in deferred revenues on the consolidated balance sheets and recognized in automotive sales ratably over the service coverage periods. | |||||||||||||
As of December 31, 2013 and 2012, we had deferred $27.3 million and $1.5 million, respectively, related to our maintenance and service plans. During the years ended December 31, 2013 and 2012, we recognized revenue of $0.7 million and $0.1 million related to these plans, respectively. | |||||||||||||
We provided Tesla Roadster customers with the opportunity to purchase an extended warranty plan for the period after the end of our initial New Vehicle Limited Warranty to cover additional services for an additional three years or 36,000 miles. We refer to this program as our Extended Service plan. Amounts collected on these sales are initially recorded in deferred revenues on the consolidated balance sheets and recognized in automotive sales over the extended warranty period. As of December 31, 2013 and 2012, we had deferred $1.6 million and $1.5 million, respectively. During the years ended December 31, 2013 and 2012, we recognized revenue of $0.3 million and $0.5 million related to this program, respectively. | |||||||||||||
Additionally, we have previously provided customers of our Tesla Roadsters with a one-time option to replace the battery packs in their vehicles at any time after the expiration of the New Vehicle Limited Warranty but before the tenth anniversary of the purchase date of their vehicles. We refer to this program as our Battery Replacement program. Amounts collected on these sales are initially recorded in deferred revenues on the consolidated balance sheets and recognized in automotive sales as we fulfill our obligation to replace the battery packs. As of December 31, 2013 and 2012, we had deferred $1.3 million and $1.2 million, respectively, related to the Battery Replacement program and have not yet recognized any related revenues. | |||||||||||||
Development Services Revenue | |||||||||||||
Revenue from development services arrangements consist of revenue earned from the development of electric vehicle powertrain components and systems for other automobile manufacturers, including the design and development of battery packs, drive units and sample vehicles to meet a customer’s specifications. Revenue is recognized as the performance requirements of each development arrangement are met and collection is reasonably assured. Where development arrangements include substantive at-risk milestones, revenue is recognized based upon the achievement of the contractually-defined milestones. Amounts collected in advance of meeting all of the revenue recognition criteria are not recognized in the consolidated statement of operations and are instead recorded as deferred revenue on the consolidated balance sheets. Costs of development services are expensed as incurred. When development services arrangements have multiple elements, we evaluate the separability of the various deliverables to ensure appropriate revenue recognition. Costs of development services incurred in periods prior to the finalization of an agreement are recorded as research and development expenses; once an agreement is finalized, these costs are recorded in cost of revenues. | |||||||||||||
Cash and Cash Equivalents | ' | ||||||||||||
Cash and Cash Equivalents | |||||||||||||
All highly liquid investments with an original or remaining maturity of three months or less at the date of purchase are considered to be cash equivalents. We currently invest excess cash primarily in money market funds. | |||||||||||||
Marketable Securities | ' | ||||||||||||
Marketable Securities | |||||||||||||
Marketable securities have historically been comprised of commercial paper and corporate debt and are all designated as available-for-sale and reported at estimated fair value, with unrealized gains and losses recorded in accumulated other comprehensive loss which is included within stockholders’ equity. Realized gains and losses on the sale of available-for-sale marketable securities are recorded in other income (expense), net. The cost of available-for-sale marketable securities sold is based on the specific identification method. Interest, dividends, amortization and accretion of purchase premiums and discounts on our marketable securities are included in other income (expense), net. Available-for-sale marketable securities with maturities greater than three months at the date of purchase and remaining maturities of one year or less are classified as short-term marketable securities. Where temporary declines in fair value exist, we have the ability and the intent to hold these securities for a period of time sufficient to allow for any anticipated recovery in fair value. | |||||||||||||
When held, we regularly review all of our marketable securities for other-than-temporary declines in fair value. The review includes but is not limited to (i) the consideration of the cause of the impairment, (ii) the creditworthiness of the security issuers, (iii) the length of time a security is in an unrealized loss position, and (iv) our ability to hold the security for a period of time sufficient to allow for any anticipated recovery in fair value. | |||||||||||||
Restricted Cash and Deposits | ' | ||||||||||||
Restricted Cash and Deposits | |||||||||||||
We maintain certain cash amounts restricted as to withdrawal or use. We maintained total restricted cash of $9.4 million and $24.3 million as of December 31, 2013 and 2012, respectively. Restricted cash as of December 31, 2012 primarily represented cash held in separate dedicated accounts required under our Department of Energy (DOE) loan facility (see Note 6) and was used as a mechanism to defer advances under the DOE loan facility as well as to pre-fund planned loan repayments. Upon termination of the DOE loan facility in May 2013, $29.3 million held in these dedicated accounts were released by the DOE. Current and noncurrent restricted cash as of December 31, 2013 was comprised primarily of security deposits held by vendors as part of the vendors’ standard credit policies, security deposits related to lease agreements and equipment financing, and certain refundable customer deposits segregated in accordance with state consumer protection regulations. | |||||||||||||
Accounts Receivable and Allowance for Doubtful Accounts | ' | ||||||||||||
Accounts Receivable and Allowance for Doubtful Accounts | |||||||||||||
Accounts receivable primarily include amounts related to sales of powertrain systems and regulatory credits to other global automotive manufacturers (OEMs). In circumstances where we are aware of a specific customer’s inability to meet its financial obligations to us, we provide an allowance against amounts receivable to reduce the net recognized receivable to the amount we reasonably believe will be collected. We typically do not carry accounts receivable related to our vehicle and related sales as customer payments are due prior to vehicle delivery, except for the amounts due from commercial financial institutions for approved financing arrangements between our customers and the financial institutions. | |||||||||||||
Concentration of Risk | ' | ||||||||||||
Concentration of Risk | |||||||||||||
Credit Risk | |||||||||||||
Financial instruments that potentially subject us to a concentration of credit risk consist of cash, cash equivalents, restricted cash and accounts receivable. Our cash equivalents are primarily invested in money market funds with high credit quality financial institutions in the United States. At times, these deposits and securities may be in excess of insured limits. We invest cash not required for use in operations in high credit quality securities based on our investment policy. Our investment policy provides guidelines and limits regarding credit quality, investment concentration, investment type, and maturity that we believe will provide liquidity while reducing risk of loss of capital. Historically, when held, investments were of a short-term nature and included investments in corporate debt securities. | |||||||||||||
As of December 31, 2013 and 2012, our accounts receivable were derived primarily from sales of regulatory credits, as well as the development and sales of powertrain components and systems to OEMs. Accounts receivable also included amounts to be received from commercial financial institutions for approved financing arrangements between our customers and the financial institutions. | |||||||||||||
The following summarizes the accounts receivable from our OEM customers in excess of 10% of our total accounts receivable: | |||||||||||||
December 31, | December 31, | ||||||||||||
2013 | 2012 | ||||||||||||
Customer A | 30 | % | 56 | % | |||||||||
Customer B | 9 | % | 15 | % | |||||||||
Supply Risk | |||||||||||||
Although there may be multiple suppliers available, many of the components used in our vehicles are purchased by us from a single source. If these single source suppliers fail to satisfy our requirements on a timely basis at competitive prices, we could suffer manufacturing delays, a possible loss of revenues, or incur higher cost of sales, any of which could adversely affect our operating results. | |||||||||||||
Inventories and Inventory Valuation | ' | ||||||||||||
Inventories and Inventory Valuation | |||||||||||||
Inventories are stated at the lower of cost or market. Cost is computed using standard cost, which approximates actual cost on a first-in, first-out basis. We record inventory write-downs based on reviews for excess and obsolescence determined primarily by future demand forecasts. We also adjust the carrying value of our inventories when we believe that the net realizable value is less than the carrying value. These write-downs are measured as the difference between the cost of the inventory, including estimated costs to complete, and estimated selling prices. Once inventory is written down, a new, lower-cost basis for that inventory is established, and subsequent changes in facts and circumstances do not result in the restoration or increase in that newly established cost basis. | |||||||||||||
Property, Plant and Equipment | ' | ||||||||||||
Property, Plant and Equipment | |||||||||||||
Property, plant and equipment are recognized at cost less accumulated depreciation. Depreciation is generally computed using the straight-line method over the estimated useful lives of the related assets as follows: | |||||||||||||
Computer equipment and software | 3 years | ||||||||||||
Office furniture, machinery and equipment | 3 to 12 years | ||||||||||||
Building and building improvements | 30 years | ||||||||||||
Depreciation for tooling is computed using the units-of-production method whereby capitalized costs are amortized over the total estimated productive life of the related assets. During the year ended December 31, 2013, we increased the estimated productive life for tooling from 125,000 vehicles to 150,000 vehicles based on our current estimates of production. | |||||||||||||
Leasehold improvements are amortized on a straight-line basis over the shorter of their estimated useful lives or the term of the related lease. | |||||||||||||
Upon the retirement or sale of our property, plant and equipment, the cost and related accumulated depreciation are removed from the balance sheet and the resulting gain or loss is reflected in operations. Maintenance and repair expenditures are expensed as incurred, while major improvements that increase functionality of the asset are capitalized and depreciated ratably to expense over the identified useful life. Land is not depreciated. | |||||||||||||
Interest expense on outstanding debt is capitalized during the period of significant capital asset construction. Capitalized interest on construction in progress is included in property, plant and equipment, and is amortized over the life of the related assets. | |||||||||||||
Operating Lease Vehicles | ' | ||||||||||||
Operating Lease Vehicles | |||||||||||||
Vehicles delivered under our resale value guarantee program, vehicles that are leased as part of our leasing program as well as any vehicles that are sold with a significant buy-back guarantee are classified as operating lease vehicles as the related revenue transactions are treated as operating leases. Operating lease vehicles are recorded at cost less accumulated depreciation. Depreciation is computed using the straight-line method over the expected operating lease term. The total cost of operating lease vehicles recorded in the consolidated balance sheets as of December 31, 2013 and 2012 was $401.9 million and $13.4 million, respectively. Accumulated depreciation related to leased vehicles as of December 31, 2013 and 2012 was $19.5 million and $3.3 million, respectively. | |||||||||||||
Intangible Assets | ' | ||||||||||||
Intangible Assets | |||||||||||||
Intangible assets with finite useful lives are amortized over their estimated useful lives. As of December 31, 2013 and 2012, intangible assets were comprised of emission permits related to our Tesla Factory. Although these emission permits have a longer useful life than the Tesla Factory, they are related to the operation of our Tesla Factory and therefore, are amortized over the same useful life. | |||||||||||||
Long-lived Assets | ' | ||||||||||||
Long-lived Assets | |||||||||||||
We evaluate our long-lived assets, including intangible assets, for indicators of possible impairment when events or changes in circumstances indicate the carrying amount of an asset (or asset group) may not be recoverable. Impairment exists if the carrying amounts of such assets exceed the estimates of future net undiscounted cash flows expected to be generated by such assets. Should impairment exist, the impairment loss would be measured based on the excess carrying value of the asset over the asset’s estimated fair value. As of December 31, 2013 and 2012, we did not record any material impairment losses on our long-lived assets. | |||||||||||||
Research and Development Costs | ' | ||||||||||||
Research and Development Costs | |||||||||||||
Research and development costs are expensed as incurred. Research and development expenses consist primarily of payroll, benefits and stock-based compensation of those employees engaged in research, design and development activities, costs related to design tools, license expenses related to intellectual property, supplies and services, depreciation and other occupancy costs. Also included in research and development are development services costs incurred, if any, prior to the finalization of agreements with our development services customers as reaching a final agreement and revenue recognition is not assured. Development services costs incurred after the finalization of an agreement are recorded in cost of revenues. | |||||||||||||
Advertising and Promotion Costs | ' | ||||||||||||
Advertising and Promotion Costs | |||||||||||||
Advertising and sales promotion costs are expensed as incurred. During the years ended December 31, 2013, 2012 and 2011, advertising, promotion and related marketing expenses were $9.0 million, $3.9 million and $2.9 million, respectively. | |||||||||||||
Shipping and Handling Costs | ' | ||||||||||||
Shipping and Handling Costs | |||||||||||||
Amounts billed to customers related to shipping and handling are classified as revenue, and related shipping and handling costs are included in cost of revenues. | |||||||||||||
Income Taxes | ' | ||||||||||||
Income Taxes | |||||||||||||
Income taxes are computed using the asset and liability method, under which deferred tax assets and liabilities are determined based on the difference between the financial statement and tax bases of assets and liabilities using enacted tax rates in effect for the year in which the differences are expected to affect taxable income. Valuation allowances are established when necessary to reduce deferred tax assets to the amount expected to be realized. | |||||||||||||
We record liabilities related to uncertain tax positions when, despite our belief that our tax return positions are supportable, we believe that it is more likely than not that those positions may not be fully sustained upon review by tax authorities. Accrued interest and penalties related to unrecognized tax benefits are classified as income tax expense. | |||||||||||||
Stock-based Compensation | ' | ||||||||||||
Stock-based Compensation | |||||||||||||
We recognize compensation expense for costs related to all share-based payments, including stock options, restricted stock units (RSUs) and our employee stock purchase plan (the ESPP). The fair value of stock options and the ESPP are estimated on the grant date and offering date using an option pricing model, respectively. The fair value of RSUs is measured on the grant date based on the closing fair market value of our common stock. Stock-based compensation expense is recognized on a straight-line basis over the requisite service period, net of estimated forfeitures. | |||||||||||||
We account for equity instruments issued to non-employees based on the fair value of the awards. The fair value of the awards granted to non-employees is re-measured as the awards vest and the resulting change in fair value, if any, is recognized in the consolidated statements of operations during the period the related services are rendered. | |||||||||||||
For performance-based awards, stock-based compensation expense is recognized over the expected performance achievement period of individual performance milestones when the achievement of each individual performance milestone becomes probable. | |||||||||||||
For performance-based awards with a vesting schedule based entirely on the attainment of both performance and market conditions, the stock-based compensation expense is recognized for each pair of performance and market conditions over the longer of the expected achievement period of the performance and market conditions, beginning at the point in time that the relevant performance condition is considered probable of being met (see Note 8). | |||||||||||||
Foreign Currency Remeasurement and Transactions | ' | ||||||||||||
Foreign Currency Remeasurement and Transactions | |||||||||||||
For each of our foreign subsidiaries, the functional currency is the U.S. Dollar. For these foreign subsidiaries, monetary assets and liabilities denominated in non-U.S. currencies are re-measured to U.S. Dollars using current exchange rates in effect at the balance sheet date. Non-monetary assets and liabilities denominated in non-U.S. currencies are maintained at historical U.S. Dollar exchange rates. Revenues and expenses are re-measured at average U.S. Dollar monthly rates. | |||||||||||||
Foreign currency transaction gains and losses are a result of the effect of exchange rate changes on transactions denominated in currencies other than the functional currency. Transaction gains and losses are recognized in other income (expense), net, in the consolidated statements of operations. For the year ended December 31, 2013, we recorded foreign currency transaction gains of $11.9 million. For the years ended December 2012 and 2011, foreign currency transaction gains and losses were not significant. | |||||||||||||
Comprehensive Loss | ' | ||||||||||||
Comprehensive Loss | |||||||||||||
Comprehensive loss is comprised of net loss and other comprehensive income (loss). Other comprehensive income (loss) consists of unrealized gains and losses on our available-for-sale marketable securities that have been excluded from the determination of net loss. | |||||||||||||
Warranties | ' | ||||||||||||
Warranties | |||||||||||||
We provide a warranty on all vehicle, production powertrain components and systems sales, and we accrue warranty reserves at the time a vehicle or production powertrain component or system is delivered to the customer. Warranty reserves include management’s best estimate of the projected costs to repair or to replace any items under warranty, based on actual warranty experience as it becomes available and other known factors that may impact our evaluation of historical data. For new vehicles, warranty reserves are based on management’s best estimate of projected warranty experience until adequate historical data is accumulated. Our warranty reserves do not include projected warranty costs associated with our resale value guarantee vehicles as such actual warranty costs are expensed as incurred. For the year ended December 31, 2013, warranty costs incurred for our resale value guarantee vehicles was $1.6 million. We may have material changes as we accumulate more actual data and experience. We review our reserves at least quarterly to ensure that our accruals are adequate in meeting expected future warranty obligations, and we will adjust our estimates as needed. Warranty expense is recorded as a component of cost of revenues in the consolidated statements of operations. The portion of the warranty provision which is expected to be incurred within 12 months from the balance sheet date is classified as current, while the remaining amount is classified as long-term. | |||||||||||||
We began recording warranty reserves with the commencement of Tesla Roadster sales in 2008. Initially, Tesla Roadsters were sold with a warranty of three years or 36,000 miles, which we extended to four years or 50,000 miles for the purchasers of our 2008 Tesla Roadster. Tesla Roadster customers had the opportunity to purchase an Extended Service plan for the period after the end of the New Vehicle Limited Warranty to cover additional services for an additional three years or 36,000 miles, provided they are purchased within a specified period of time. | |||||||||||||
In June 2012, we commenced deliveries of Model S. For our Model S customers, we provide a four year or 50,000 miles New Vehicle Limited Warranty, subject to separate limited warranties for the supplemental restraint system and battery. The New Vehicle Limited Warranty also covers the battery for a period of eight years or 125,000 miles or unlimited miles, depending on the size of the vehicle’s battery, although the battery’s charging capacity is not covered. Model S customers also have the opportunity to purchase an Extended Service plan for the period after the end of the New Vehicle Limited Warranty to cover additional services for an additional four years or 50,000 miles, provided they are purchased within a specified period of time. The battery pack’s charging capacity is not covered under the New Vehicle Limited Warranty or any Extended Service plan. Accrued warranty activity consisted of the following for the periods presented (in thousands): | |||||||||||||
Year Ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Accrued warranty—beginning of period | $ | 13,013 | $ | 6,315 | $ | 5,417 | |||||||
Warranty costs incurred | (19,160 | ) | (3,424 | ) | (2,750 | ) | |||||||
Net changes in liability for pre-existing warranties, including expirations | (2,072 | ) | — | — | |||||||||
Provision for warranty | 61,401 | 10,122 | 3,648 | ||||||||||
Accrued warranty—end of period | $ | 53,182 | $ | 13,013 | $ | 6,315 | |||||||
Environmental Liabilities | ' | ||||||||||||
Environmental Liabilities | |||||||||||||
We are subject to federal and state laws and regulations for the protection of the environment, including those related to the discharge of hazardous materials and remediation of contaminated sites. In October 2010, we completed the purchase of our Tesla Factory located in Fremont, California from New United Motor Manufacturing, Inc. (NUMMI). NUMMI has previously identified environmental conditions at the Fremont site which could affect soil and groundwater. As the owner of the Fremont site, we may be responsible for the entire investigation and remediation of any environmental contamination at the Fremont site, whether it occurred before or after the date we purchased the property. Upon the completion of the purchase in October 2010, we recorded the fair value of the environmental liabilities that we estimated to be $5.3 million. The fair value of these liabilities was determined based on an expected value analysis of the related potential costs to investigate, remediate and manage various environmental conditions that were identified as part of NUMMI’s facility decommissioning activities as well as our own diligence efforts. Estimated potential costs are not discounted to present value as the timing of payments cannot be reasonably estimated. We assess adequacy of our accrued environmental liabilities for investigation and remediation of any environmental contamination at least quarterly and adjust our estimates as appropriate. As of December 31, 2013 and 2012, we accrued a total of $5.5 million and $5.3 million related to these environmental liabilities, respectively (see Note 12). | |||||||||||||
Net Loss per Share of Common Stock | ' | ||||||||||||
Net Loss per Share of Common Stock | |||||||||||||
Our basic and diluted net loss per share of common stock is calculated by dividing net loss by the weighted-average shares of common stock outstanding for the period. Potentially dilutive shares, which are based on the number of shares underlying outstanding stock options and warrants as well as our Notes, are not included when their effect is antidilutive. | |||||||||||||
The following table presents the potential weighted common shares outstanding that were excluded from the computation of basic and diluted net loss per share of common stock for the periods, related to the following securities: | |||||||||||||
Year Ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Stock options | 13,881,355 | 25,007,776 | 15,806,663 | ||||||||||
Convertible senior notes | 411,560 | — | — | ||||||||||
Employee stock purchase plan | 23,296 | 59,763 | 39,131 | ||||||||||
Restricted stock units | 224 | — | — | ||||||||||
DOE warrant | 1,061,439 | 2,342,353 | 2,220,617 | ||||||||||
Common stock subject to repurchase | — | — | 278 | ||||||||||
Since we will settle the principal amount of our 1.50% convertible senior notes (see Note 6) in cash, we use the treasury stock method for calculating any potential dilutive effect of the conversion spread on diluted net income per share, if applicable. The conversion spread will have a dilutive impact on diluted net income per share of common stock when the average market price of our common stock for a given period exceeds the conversion price of $124.52 per share. |
Summary_of_Significant_Account2
Summary of Significant Accounting Policies (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Accounting Policies [Abstract] | ' | ||||||||||||
Schedule of Automotive Sales | ' | ||||||||||||
Automotive sales consisted of the following for the periods presented (in thousands): | |||||||||||||
Year Ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Vehicle, options and related sales | $ | 1,952,684 | $ | 354,344 | $ | 101,708 | |||||||
Powertrain component and related sales | 45,102 | 31,355 | 46,860 | ||||||||||
Total automotive sales | $ | 1,997,786 | $ | 385,699 | $ | 148,568 | |||||||
Schedule of Account Activity Related to Resale Value Guarantee Program | ' | ||||||||||||
Account activity related to our resale value guarantee program consisted of the following for the period presented (in thousands): | |||||||||||||
Year ended | |||||||||||||
December 31, 2013 | |||||||||||||
Operating lease vehicles under the resale value guarantee program—beginning of period | $ | — | |||||||||||
Increase in operating lease vehicles under the resale value guarantee program | 396,361 | ||||||||||||
Depreciation expense recorded in cost of automotive sales | 17,171 | ||||||||||||
Additional depreciation expense recorded in cost of automotive sales as a result of early cancellation of resale value guarantee | 2,211 | ||||||||||||
Operating lease vehicles under the resale value guarantee program—end of period | $ | 376,979 | |||||||||||
Deferred revenue related to the resale value gurantee program—beginning of period | $ | — | |||||||||||
Increase in deferred revenue related to Model S deliveries with resale value guarantee | 259,962 | ||||||||||||
Amortization of deferred revenue recorded in automotive sales | 27,654 | ||||||||||||
Additional revenue recorded in automotive sales as a result of early cancellation of resale value guarantee | 1,452 | ||||||||||||
Deferred revenue related to the resale value gurantee program—end of period | $ | 230,856 | |||||||||||
Resale value guarantee liability—beginning of period | $ | — | |||||||||||
Increase in resale value guarantee | 237,620 | ||||||||||||
Additional revenue recorded in automotive sales as a result of early cancellation of resale value guarantee | 1,322 | ||||||||||||
Resale value guarantee liability—end of period | $ | 236,298 | |||||||||||
Summary of Accounts Receivable from OEM Customers in Excess of 10% of Total Accounts Receivable | ' | ||||||||||||
The following summarizes the accounts receivable from our OEM customers in excess of 10% of our total accounts receivable: | |||||||||||||
December 31, | December 31, | ||||||||||||
2013 | 2012 | ||||||||||||
Customer A | 30 | % | 56 | % | |||||||||
Customer B | 9 | % | 15 | % | |||||||||
Schedule of Estimated Useful Lives of Related Assets | ' | ||||||||||||
Depreciation is generally computed using the straight-line method over the estimated useful lives of the related assets as follows: | |||||||||||||
Computer equipment and software | 3 years | ||||||||||||
Office furniture, machinery and equipment | 3 to 12 years | ||||||||||||
Building and building improvements | 30 years | ||||||||||||
Schedule of Accrued Warranty Activity | ' | ||||||||||||
Accrued warranty activity consisted of the following for the periods presented (in thousands): | |||||||||||||
Year Ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Accrued warranty—beginning of period | $ | 13,013 | $ | 6,315 | $ | 5,417 | |||||||
Warranty costs incurred | (19,160 | ) | (3,424 | ) | (2,750 | ) | |||||||
Net changes in liability for pre-existing warranties, including expirations | (2,072 | ) | — | — | |||||||||
Provision for warranty | 61,401 | 10,122 | 3,648 | ||||||||||
Accrued warranty—end of period | $ | 53,182 | $ | 13,013 | $ | 6,315 | |||||||
Schedule of Potential Weighted Common Shares Outstanding that were Excluded from Computation of Basic and Diluted Net Loss per Share of Common Stock | ' | ||||||||||||
The following table presents the potential weighted common shares outstanding that were excluded from the computation of basic and diluted net loss per share of common stock for the periods, related to the following securities: | |||||||||||||
Year Ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Stock options | 13,881,355 | 25,007,776 | 15,806,663 | ||||||||||
Convertible senior notes | 411,560 | — | — | ||||||||||
Employee stock purchase plan | 23,296 | 59,763 | 39,131 | ||||||||||
Restricted stock units | 224 | — | — | ||||||||||
DOE warrant | 1,061,439 | 2,342,353 | 2,220,617 | ||||||||||
Common stock subject to repurchase | — | — | 278 |
Balance_Sheet_Components_Table
Balance Sheet Components (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Organization Consolidation And Presentation Of Financial Statements [Abstract] | ' | ||||||||
Schedule of Inventory | ' | ||||||||
As of December 31, 2013 and 2012, our inventory consisted of the following (in thousands): | |||||||||
December 31, | December 31, | ||||||||
2013 | 2012 | ||||||||
Raw materials | $ | 184,665 | $ | 163,637 | |||||
Work in process | 42,500 | 24,535 | |||||||
Finished goods | 69,324 | 62,559 | |||||||
Service parts | 43,866 | 17,773 | |||||||
Total | $ | 340,355 | $ | 268,504 | |||||
Schedule of Property, Plant and Equipment, Net | ' | ||||||||
As of December 31, 2013 and 2012, our property, plant and equipment, net, consisted of the following (in thousands): | |||||||||
December 31, | December 31, | ||||||||
2013 | 2012 | ||||||||
Machinery, equipment and office furniture | $ | 322,394 | $ | 223,745 | |||||
Tooling | 230,385 | 172,584 | |||||||
Leasehold improvements | 94,763 | 39,224 | |||||||
Building and building improvements | 67,707 | 50,574 | |||||||
Land | 45,020 | 26,391 | |||||||
Computer equipment and software | 42,073 | 22,125 | |||||||
Construction in progress | 76,294 | 75,129 | |||||||
878,636 | 609,772 | ||||||||
Less: Accumulated depreciation and amortization | (140,142 | ) | (57,543 | ) | |||||
Total | $ | 738,494 | $ | 552,229 | |||||
Schedule of Other Assets | ' | ||||||||
As of December 31, 2013 and 2012, our other assets consisted of the following (in thousands): | |||||||||
December 31, | December 31, | ||||||||
2013 | 2012 | ||||||||
Emission permits | $ | 13,930 | $ | 14,267 | |||||
Debt issuance costs, net | 7,315 | — | |||||||
Loan facility issuance costs, net | — | 5,759 | |||||||
Other | 2,392 | 1,937 | |||||||
Total | $ | 23,637 | $ | 21,963 | |||||
Schedule of Accrued Liabilities | ' | ||||||||
As of December 31, 2013 and 2012, our accrued liabilities consisted of the following (in thousands): | |||||||||
December 31, | December 31, | ||||||||
2013 | 2012 | ||||||||
Taxes payable | $ | 38,067 | $ | 9,710 | |||||
Payroll and related costs | 26,535 | 15,525 | |||||||
Accrued warranty, current portion | 19,917 | 3,056 | |||||||
Accrued purchases | 19,023 | 10,334 | |||||||
Environmental liabilities, current portion | 2,132 | — | |||||||
Other | 2,578 | 1,173 | |||||||
Total | $ | 108,252 | $ | 39,798 | |||||
Schedule of Other Long-Term Liabilities | ' | ||||||||
As of December 31, 2013 and 2012, our other long-term liabilities consisted of the following (in thousands): | |||||||||
December 31, | December 31, | ||||||||
2013 | 2012 | ||||||||
Accrued warranty, less current portion | $ | 33,265 | $ | 9,957 | |||||
Deferred rent liability | 9,886 | 6,075 | |||||||
Deferred tax liabilities | 6,821 | 330 | |||||||
Environmental liabilities, less current portion | 3,364 | 5,300 | |||||||
Other | 4,861 | 3,508 | |||||||
Total | $ | 58,197 | $ | 25,170 | |||||
Fair_Value_of_Financial_Instru1
Fair Value of Financial Instruments (Tables) | 12 Months Ended | ||||||||||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||||||||||
Fair Value Disclosures [Abstract] | ' | ||||||||||||||||||||||||||||||||
Schedule of Fair Value Hierarchy of Financial Assets and Financial Liabilities Carried at Fair Value | ' | ||||||||||||||||||||||||||||||||
As of December 31, 2013 and 2012, the fair value hierarchy for our financial assets and financial liabilities that are carried at fair value was as follows (in thousands): | |||||||||||||||||||||||||||||||||
December 31, 2013 | December 31, 2012 | ||||||||||||||||||||||||||||||||
Fair Value | Level I | Level II | Level III | Fair Value | Level I | Level II | Level III | ||||||||||||||||||||||||||
Money market funds | $ | 460,313 | $ | 460,313 | $ | — | $ | — | $ | 60,272 | $ | 60,272 | $ | — | $ | — | |||||||||||||||||
Common stock warrant liability | $ | — | $ | — | $ | — | $ | — | $ | 10,692 | $ | — | $ | — | $ | 10,692 | |||||||||||||||||
Schedule of Changes in Fair Value of Common Stock Warrant Liability | ' | ||||||||||||||||||||||||||||||||
The changes in the fair value of our common stock warrant liability were as follows (in thousands): | |||||||||||||||||||||||||||||||||
Year Ended December 31, | |||||||||||||||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||||||||||||||
Fair value, beginning of period | $ | 10,692 | $ | 8,838 | |||||||||||||||||||||||||||||
Change in fair value | (10,692 | ) | 1,854 | ||||||||||||||||||||||||||||||
Fair value, end of period | $ | — | $ | 10,692 | |||||||||||||||||||||||||||||
Equity_Incentive_Plans_Tables
Equity Incentive Plans (Tables) | 12 Months Ended | ||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | ' | ||||||||||||||||||||||||
Summary of Stock Option and RSU Activity Under Plan | ' | ||||||||||||||||||||||||
The following table summarizes stock option and RSU activity under the Plan: | |||||||||||||||||||||||||
Outstanding Stock Options | Outstanding RSUs | ||||||||||||||||||||||||
Shares Available | Number of | Weighted | Number | Weighted | |||||||||||||||||||||
for Grant | Options | Average | of RSUs | Average Grant | |||||||||||||||||||||
Exercise Price | Date Fair | ||||||||||||||||||||||||
Value | |||||||||||||||||||||||||
Balance, December 31, 2010 | 9,407,975 | 13,738,122 | $ | 8.62 | — | $ | — | ||||||||||||||||||
Additional options reserved | 3,796,342 | — | — | — | — | ||||||||||||||||||||
Granted | (4,011,973 | ) | 4,011,973 | 27.49 | — | — | |||||||||||||||||||
Exercised | — | (1,216,669 | ) | 5.41 | — | — | |||||||||||||||||||
Cancelled | 726,763 | (726,763 | ) | 15.26 | — | — | |||||||||||||||||||
Balance, December 31, 2011 | 9,919,107 | 15,806,663 | 13.35 | — | — | ||||||||||||||||||||
Additional options reserved | 1,064,046 | — | — | — | — | ||||||||||||||||||||
Granted | (11,854,941 | ) | 11,854,941 | 31.18 | — | — | |||||||||||||||||||
Exercised | (1,312,439 | ) | 12.52 | — | — | ||||||||||||||||||||
Cancelled | 1,341,319 | (1,341,389 | ) | 25.51 | — | — | |||||||||||||||||||
Balance, December 31, 2012 | 469,531 | 25,007,776 | 21.2 | — | — | ||||||||||||||||||||
Additional options reserved | 3,426,428 | — | — | — | |||||||||||||||||||||
Granted | (3,345,899 | ) | 2,643,821 | 74.17 | 702,078 | 155.51 | |||||||||||||||||||
Exercised | — | (3,852,673 | ) | 21.42 | — | — | |||||||||||||||||||
Cancelled | 1,170,445 | (1,157,982 | ) | 36.47 | (12,463 | ) | 154.92 | ||||||||||||||||||
Released | — | — | — | (12,031 | ) | 160.98 | |||||||||||||||||||
Balance, December 31, 2013 | 1,720,505 | 22,640,942 | $ | 26.7 | 677,584 | $ | 155.41 | ||||||||||||||||||
Schedule of Stock Options Outstanding and Exercisable | ' | ||||||||||||||||||||||||
Additional information regarding all stock options outstanding and exercisable as of December 31, 2013 is summarized below: | |||||||||||||||||||||||||
Options Outstanding | Options Exercisable | ||||||||||||||||||||||||
Range of Exercise Price | Number | Weighted | Weighted | Number | Weighted | Weighted | |||||||||||||||||||
Average | Average | Average | Average | ||||||||||||||||||||||
Exercise | Remaining | Exercise | Remaining | ||||||||||||||||||||||
Price | Contractual | Price | Contractual | ||||||||||||||||||||||
Life (in | Life (in | ||||||||||||||||||||||||
years) | years) | ||||||||||||||||||||||||
$0.15 - $6.15 | 523,182 | $ | 3.16 | 516,728 | $ | 3.16 | |||||||||||||||||||
$6.63 - $6.63 | 7,096,725 | 6.63 | 7,093,020 | 6.63 | |||||||||||||||||||||
$9.96 - $28.35 | 2,266,058 | 22.08 | 1,302,499 | 19.7 | |||||||||||||||||||||
$28.43 - $31.07 | 2,136,721 | 29.48 | 864,050 | 29.24 | |||||||||||||||||||||
$31.07 - $31.07 | 5,715,734 | 31.17 | 91,541 | 31.17 | |||||||||||||||||||||
$31.49 - $34.00 | 2,288,998 | 32.07 | 707,052 | 31.98 | |||||||||||||||||||||
$34.57 - $141.60 | 2,266,350 | 60.57 | 127,674 | 45.62 | |||||||||||||||||||||
$144.70 - $147.38 | 252,945 | 147.31 | 11,542 | 147.38 | |||||||||||||||||||||
$160.70 - $160.70 | 18,975 | 160.7 | — | — | |||||||||||||||||||||
$179.72 - $179.72 | 75,254 | 179.72 | — | — | |||||||||||||||||||||
22,640,942 | 26.7 | 6.37 | 10,714,106 | 12.37 | 4.01 | ||||||||||||||||||||
Additional information regarding all stock options outstanding and exercisable as of December 31, 2012 is summarized below: | |||||||||||||||||||||||||
Options Outstanding | Options Exercisable | ||||||||||||||||||||||||
Range of Exercise Price | Number | Weighted | Weighted | Number | Weighted | Weighted | |||||||||||||||||||
Average | Average | Average | Average | ||||||||||||||||||||||
Exercise | Remaining | Exercise | Remaining | ||||||||||||||||||||||
Price | Contractual | Price | Contractual | ||||||||||||||||||||||
Life (in | Life (in | ||||||||||||||||||||||||
years) | years) | ||||||||||||||||||||||||
$0.15 - $6.15 | 1,037,664 | $ | 3.08 | 924,801 | $ | 2.98 | |||||||||||||||||||
$6.63 - $6.63 | 7,475,413 | 6.63 | 6,456,263 | 6.63 | |||||||||||||||||||||
$9.96 - $25.27 | 2,682,735 | 19 | 1,446,362 | 17.98 | |||||||||||||||||||||
$27.25 - $29.12 | 2,522,885 | 28.18 | 801,246 | 28.3 | |||||||||||||||||||||
$29.25 - $31.07 | 1,680,276 | 30.14 | 158,300 | 30.36 | |||||||||||||||||||||
$31.17 - $31.17 | 5,865,560 | 31.17 | 19,524 | 31.17 | |||||||||||||||||||||
$31.49 - $33.15 | 2,686,684 | 31.8 | 318,914 | 31.51 | |||||||||||||||||||||
$33.22 - $34.00 | 390,314 | 33.29 | 103,184 | 33.22 | |||||||||||||||||||||
$34.57 - $34.57 | 475,275 | 34.57 | 1,750 | 34.57 | |||||||||||||||||||||
$36.01 - $36.01 | 190,970 | 36.01 | 1,549 | 36.01 | |||||||||||||||||||||
25,007,776 | 21.2 | 6.99 | 10,231,893 | 11.07 | 5.35 | ||||||||||||||||||||
Schedule of Fair Value of Option Award and ESPP on Grant Date | ' | ||||||||||||||||||||||||
We utilize the fair value method in recognizing stock-based compensation expense. Under the fair value method, we estimated the fair value of each option award and the ESPP on the grant date generally using the Black-Scholes option pricing model and the weighted average assumptions noted in the following table. | |||||||||||||||||||||||||
Year Ended December 31, | |||||||||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||||||||
Risk-free interest rate: | |||||||||||||||||||||||||
Stock options | 1.3 | % | 1 | % | 2 | % | |||||||||||||||||||
ESPP | 0.1 | % | 0.2 | % | 0.2 | % | |||||||||||||||||||
Expected term (in years): | |||||||||||||||||||||||||
Stock options | 6.1 | 5.9 | 6 | ||||||||||||||||||||||
ESPP | 0.5 | 0.5 | 0.5 | ||||||||||||||||||||||
Expected volatility: | |||||||||||||||||||||||||
Stock options | 57 | % | 63 | % | 70 | % | |||||||||||||||||||
ESPP | 43 | % | 51 | % | 59 | % | |||||||||||||||||||
Dividend yield: | |||||||||||||||||||||||||
Stock options | 0 | % | 0 | % | 0 | % | |||||||||||||||||||
ESPP | 0 | % | 0 | % | 0 | % | |||||||||||||||||||
Summary of Stock-Based Compensation Expense | ' | ||||||||||||||||||||||||
The following table summarizes the stock-based compensation expense by line item in the consolidated statements of operations (in thousands): | |||||||||||||||||||||||||
Year Ended December 31, | |||||||||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||||||||
Cost of sales | $ | 9,071 | $ | 2,194 | $ | 670 | |||||||||||||||||||
Research and development | 35,494 | 26,580 | 13,377 | ||||||||||||||||||||||
Selling, general and administrative | 39,090 | 21,371 | 15,372 | ||||||||||||||||||||||
Total | $ | 83,655 | $ | 50,145 | $ | 29,419 | |||||||||||||||||||
Income_Taxes_Tables
Income Taxes (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Income Tax Disclosure [Abstract] | ' | ||||||||||||
Schedule of Net Loss before Provision for Income Taxes | ' | ||||||||||||
Our net loss before provision for income taxes for the years ended December 31, 2013, 2012 and 2011 were as follows (in thousands): | |||||||||||||
Year Ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Domestic | $ | 75,279 | $ | 396,549 | $ | 254,761 | |||||||
International | (3,853 | ) | (472 | ) | (839 | ) | |||||||
Loss before income taxes | $ | 71,426 | $ | 396,077 | $ | 253,922 | |||||||
Components of Provision for Income Taxes | ' | ||||||||||||
The components of the provision for income taxes for the years ended December 31, 2013, 2012 and 2011, consisted of the following (in thousands): | |||||||||||||
Year Ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Current: | |||||||||||||
Federal | $ | — | $ | — | $ | — | |||||||
State | 178 | 23 | 29 | ||||||||||
Foreign | 2,349 | 282 | 437 | ||||||||||
Total current | 2,527 | 305 | 466 | ||||||||||
Deferred: | |||||||||||||
Federal | — | — | — | ||||||||||
State | — | — | — | ||||||||||
Foreign | 61 | (169 | ) | 23 | |||||||||
Total deferred | 61 | (169 | ) | 23 | |||||||||
Total provision for income taxes | $ | 2,588 | $ | 136 | $ | 489 | |||||||
Schedule of Deferred Tax Assets (Liabilities) | ' | ||||||||||||
Deferred tax assets (liabilities) as of December 31, 2013 and 2012 consisted of the following (in thousands): | |||||||||||||
December 31, | December 31, | ||||||||||||
2013 | 2012 | ||||||||||||
Deferred tax assets: | |||||||||||||
Net operating loss carry-forwards | $ | 341,172 | $ | 365,472 | |||||||||
Research and development credits | 32,175 | 21,427 | |||||||||||
Other tax credits | 166 | 120 | |||||||||||
Deferred revenue | 42,491 | 719 | |||||||||||
Inventory and warranty reserves | 23,260 | 8,272 | |||||||||||
Depreciation and amortization | 68 | 74 | |||||||||||
Stock-based compensation | 27,663 | 18,135 | |||||||||||
Convertible debt | 22,930 | — | |||||||||||
Accruals and others | 21,795 | 5,314 | |||||||||||
Total deferred tax assets | 511,720 | 419,533 | |||||||||||
Valuation allowance | (472,375 | ) | (403,006 | ) | |||||||||
Deferred tax assets, net of valutaion allowance | 39,345 | 16,527 | |||||||||||
Deferred tax liabilities: | |||||||||||||
Section 481(a) and others | — | (400 | ) | ||||||||||
Depreciation and amortization | (39,244 | ) | (15,961 | ) | |||||||||
Total deferred tax liabilities | (39,244 | ) | (16,361 | ) | |||||||||
Deferred tax assets, net of valuation allowance and deferred tax liabilities | $ | 101 | $ | 166 | |||||||||
Schedule of Reconciliation of Statutory Federal Income Taxes to Effective Taxes | ' | ||||||||||||
Reconciliation of statutory federal income taxes to our effective taxes for the years ended December 31, 2013, 2012 and 2011 is as follows (in thousands): | |||||||||||||
Year Ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Tax at statutory federal rate | $ | (25,001 | ) | $ | (134,702 | ) | $ | (86,333 | ) | ||||
State tax, net of federal benefit | 178 | (12,580 | ) | (8,118 | ) | ||||||||
Nondeductible expenses | 733 | 9,897 | 10,742 | ||||||||||
Foreign income rate differential | (253 | ) | 262 | (56 | ) | ||||||||
U.S. tax credits | (6,682 | ) | (2,785 | ) | (5,049 | ) | |||||||
Other reconciling items | 1,317 | 525 | 1,589 | ||||||||||
Change in valuation allowance | 32,296 | 139,519 | 87,714 | ||||||||||
Provision for income taxes | $ | 2,588 | $ | 136 | $ | 489 | |||||||
Schedule of Aggregate Changes in Balance of Gross Unrecognized Tax Benefits | ' | ||||||||||||
The aggregate changes in the balance of our gross unrecognized tax benefits during the years ended December 31, 2013, 2012 and 2011 were as follows (in thousands): | |||||||||||||
December 31, 2010 | 16,393 | ||||||||||||
Increases in balances related to tax positions taken during current year | 1,037 | ||||||||||||
December 31, 2011 | 17,430 | ||||||||||||
Increases in balances related to tax positions taken during current year | 640 | ||||||||||||
December 31, 2012 | 18,070 | ||||||||||||
Decreases in balances related to prior year tax positions | (7,802 | ) | |||||||||||
Increases in balances related to current year tax positions | 3,102 | ||||||||||||
December 31, 2013 | $ | 13,370 | |||||||||||
Information_about_Geographic_A1
Information about Geographic Areas (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Segment Reporting [Abstract] | ' | ||||||||||||
Schedule of Revenues by Geographic Area | ' | ||||||||||||
The following tables set forth revenues and long-lived assets by geographic area (in thousands). | |||||||||||||
Revenues | |||||||||||||
Year Ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
North America | $ | 1,545,413 | $ | 355,325 | $ | 109,233 | |||||||
Europe | 467,079 | 50,318 | 84,397 | ||||||||||
Asia | 1,004 | 7,613 | 10,612 | ||||||||||
Total | $ | 2,013,496 | $ | 413,256 | $ | 204,242 | |||||||
Schedule of Long-Lived Assets by Geographic Area | ' | ||||||||||||
Long-lived Assets | |||||||||||||
December 31, | December 31, | ||||||||||||
2013 | 2012 | ||||||||||||
United States | $ | 1,091,487 | $ | 552,302 | |||||||||
International | 29,432 | 9,998 | |||||||||||
Total | $ | 1,120,919 | $ | 562,300 | |||||||||
Commitments_and_Contingencies_
Commitments and Contingencies (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Commitments And Contingencies Disclosure [Abstract] | ' | ||||||||
Schedule of Future Minimum Commitments for Leases | ' | ||||||||
Future minimum commitments for leases as of December 31, 2013 are as follows (in thousands): | |||||||||
Operating | Capital | ||||||||
Leases | Leases | ||||||||
2014 | $ | 27,004 | $ | 8,927 | |||||
2015 | 27,372 | 7,752 | |||||||
2016 | 26,621 | 4,512 | |||||||
2017 | 24,706 | 595 | |||||||
2018 and thereafter | 55,785 | 4 | |||||||
Total minimum lease payments | $ | 161,488 | 21,790 | ||||||
Less: Amounts representing interest not yet incurred | 1,205 | ||||||||
Present value of capital lease obligations | 20,585 | ||||||||
Less: Current portion | 7,723 | ||||||||
Long-term portion of capital lease obligations | $ | 12,862 | |||||||
Quarterly_Results_of_Operation1
Quarterly Results of Operations (Tables) | 12 Months Ended | ||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||
Quarterly Financial Information Disclosure [Abstract] | ' | ||||||||||||||||
Schedule of Selected Quarterly Results of Operations | ' | ||||||||||||||||
The following table includes selected quarterly results of operations data for the years ended December 31, 2013 and 2012 (in thousands, except per share data): | |||||||||||||||||
Three months ended | |||||||||||||||||
March 31 | June 30 | September 30 | December 31 | ||||||||||||||
2013 | |||||||||||||||||
Total revenues | $ | 561,792 | $ | 405,139 | $ | 431,346 | $ | 615,219 | |||||||||
Gross profit | 96,320 | 100,483 | 102,868 | 156,590 | |||||||||||||
Net income (loss) | 11,248 | (30,502 | ) | (38,496 | ) | (16,264 | ) | ||||||||||
Net income (loss) per share, basic | 0.1 | (0.26 | ) | (0.32 | ) | (0.13 | ) | ||||||||||
Net income (loss) per share, diluted | 0 | (0.26 | ) | (0.32 | ) | (0.13 | ) | ||||||||||
2012 | |||||||||||||||||
Total revenues | $ | 30,167 | $ | 26,653 | $ | 50,104 | $ | 306,332 | |||||||||
Gross profit (loss) | 10,210 | 4,762 | (8,761 | ) | 23,857 | ||||||||||||
Net loss | (89,873 | ) | (105,603 | ) | (110,804 | ) | (89,932 | ) | |||||||||
Net loss per share, basic and diluted | (0.86 | ) | (1.00 | ) | (1.05 | ) | (0.79 | ) |
Overview_of_the_Company_Additi
Overview of the Company - Additional Information (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Overview Of The Company [Line Items] | ' | ' | ' |
Decrease in purchase price of property and equipment | $264,224 | $239,228 | $184,226 |
Acquisition of property and equipment | 38,789 | 44,890 | 15,592 |
Adjustment [Member] | ' | ' | ' |
Overview Of The Company [Line Items] | ' | ' | ' |
Decrease in purchase price of property and equipment | ' | ' | 13,700 |
Acquisition of property and equipment | ' | ' | $12,900 |
Summary_of_Significant_Account3
Summary of Significant Accounting Policies - Schedule of Automotive Sales (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Product Information [Line Items] | ' | ' | ' |
Automotive sales | $1,997,786 | $385,699 | $148,568 |
Vehicle, options and related sales [Member] | ' | ' | ' |
Product Information [Line Items] | ' | ' | ' |
Automotive sales | 1,952,684 | 354,344 | 101,708 |
Powertrain component and related sales [Member] | ' | ' | ' |
Product Information [Line Items] | ' | ' | ' |
Automotive sales | $45,102 | $31,355 | $46,860 |
Summary_of_Significant_Account4
Summary of Significant Accounting Policies - Additional Information (Detail) (USD $) | 12 Months Ended | 12 Months Ended | 1 Months Ended | 12 Months Ended | 1 Months Ended | 12 Months Ended | ||||||||||||||||||||||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Oct. 31, 2010 | 31-May-10 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | 31-May-13 | 31-May-13 | Apr. 30, 2013 | Dec. 31, 2013 | Apr. 30, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2008 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | |
New Vehicle Limited Warranty [Member] | Prepaid maintenance program [Member] | Supercharger network [Member] | Connectivity [Member] | DOE Loan Facility [Member] | 1.50% Convertible Senior Notes [Member] | Minimum [Member] | Minimum [Member] | Maximum [Member] | Maximum [Member] | Sale of ZEV Credits [Member] | Sale of ZEV Credits [Member] | Sale of ZEV Credits [Member] | Battery Replacement Plan [Member] | Battery Replacement Plan [Member] | Extended Service Plans [Member] | Extended Service Plans [Member] | Maintenance and service plans [Member] | Maintenance and service plans [Member] | Tesla Roadsters [Member] | Tesla Roadsters [Member] | Model S [Member] | Model S [Member] | ||||||
mi | mi | Vehicle | Vehicle | mi | mi | New Vehicle Limited Warranty [Member] | mi | New Vehicle Limited Warranty [Member] | ||||||||||||||||||||
mi | mi | |||||||||||||||||||||||||||
Summary Of Significant Accounting Policies [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Deferred revenue | ' | ' | ' | ' | ' | ' | ' | $10,300,000 | $700,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | $1,300,000 | $1,200,000 | $1,600,000 | $1,500,000 | $27,300,000 | $1,500,000 | ' | ' | ' | ' |
Resale agreement term | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '36 months | ' | '39 months | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenue from sales | 1,997,786,000 | 385,699,000 | 148,568,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 194,400,000 | 40,500,000 | 2,700,000 | 0 | 0 | 300,000 | 500,000 | 700,000 | 100,000 | ' | ' | ' | ' |
Extended warranty coverage, vehicle additional mileage | ' | ' | ' | ' | ' | 36,000 | 100,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 50,000 | ' | ' | ' | 50,000 | 36,000 | ' | ' |
Extended product warranty period, years | ' | ' | ' | ' | ' | '3 years | '8 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '4 years | ' | ' | ' | '4 years | '3 years | ' | ' |
Total restricted cash | 9,400,000 | 24,300,000 | ' | ' | ' | ' | ' | ' | ' | 29,300,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Accounts receivable from OEM customers excess percentage | 10.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of vehicles | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 125,000 | ' | 150,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total cost of operating lease vehicles | 401,900,000 | 13,400,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Accumulated depreciation related to leased vehicles | 19,500,000 | 3,300,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Advertising, promotion and related marketing expenses | 9,000,000 | 3,900,000 | 2,900,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Gain (loss) from foreign currency transaction | 11,900,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Warranty costs incurred for resale value guarantee | 1,600,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Warranty period, years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '3 years | ' | ' | ' |
Service period, years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '4 years | '8 years |
Warranty coverage, vehicle mileage | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 36,000 | ' | ' | ' |
Service coverage, vehicle mileage | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 50,000 | ' |
Extended product service period, years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '4 years | ' |
Extended service coverage, vehicle additional mileage | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 50,000 | 125,000 |
Extended warranty coverage, vehicle mileage (in miles) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 'Unlimited |
Estimated fair value of the environmental liabilities | $5,500,000 | $5,300,000 | ' | $5,300,000 | $5,300,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt instrument interest rate | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1.50% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Convertible notes, conversion price | $124.52 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Summary_of_Significant_Account5
Summary of Significant Accounting Policies - Schedule of Account Activity Related to Resale Value Guarantee Program (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Operating Leases [Line Items] | ' | ' | ' |
Operating lease vehicles under the resale value guarantee program-beginning of period | $13,400 | ' | ' |
Increase in operating lease vehicles under the resale value guarantee program | 463,270 | 194,726 | 13,638 |
Operating lease vehicles under the resale value guarantee program-end of period | 401,900 | 13,400 | ' |
Increase in deferred revenue related to Model S deliveries with resale value guarantee | 268,153 | -526 | -1,927 |
Increase in resale value guarantee | 236,299 | ' | ' |
Resale value guarantee liability-end of period | 236,299 | ' | ' |
Resale Value Guarantee [Member] | ' | ' | ' |
Operating Leases [Line Items] | ' | ' | ' |
Increase in operating lease vehicles under the resale value guarantee program | 396,361 | ' | ' |
Depreciation expense recorded in cost of automotive sales | 17,171 | ' | ' |
Additional depreciation expense recorded in cost of automotive sales as a result of early cancellation of resale value guarantee | 2,211 | ' | ' |
Operating lease vehicles under the resale value guarantee program-end of period | 376,979 | ' | ' |
Increase in deferred revenue related to Model S deliveries with resale value guarantee | 259,962 | ' | ' |
Amortization of deferred revenue recorded in automotive sales | 27,654 | ' | ' |
Additional revenue recorded in automotive sales as a result of early cancellation of resale value guarantee | 1,452 | ' | ' |
Deferred revenue related to the resale value guarantee program-end of period | 230,856 | ' | ' |
Increase in resale value guarantee | 237,620 | ' | ' |
Additional revenue recorded in automotive sales as a result of early cancellation of resale value guarantee | 1,322 | ' | ' |
Resale value guarantee liability-end of period | $236,298 | ' | ' |
Summary_of_Significant_Account6
Summary of Significant Accounting Policies - Summary of Accounts Receivable from OEM Customers in Excess of 10% of Total Accounts Receivable (Detail) (Accounts receivable [Member]) | 12 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2012 | |
Customer A [Member] | ' | ' |
Concentration Risk [Line Items] | ' | ' |
Accounts receivable in excess of 10% of total accounts receivable | 30.00% | 56.00% |
Customer B [Member] | ' | ' |
Concentration Risk [Line Items] | ' | ' |
Accounts receivable in excess of 10% of total accounts receivable | 9.00% | 15.00% |
Summary_of_Significant_Account7
Summary of Significant Accounting Policies - Schedule of Estimated Useful Lives of Related Assets (Detail) | 12 Months Ended |
Dec. 31, 2013 | |
Computer equipment and software [Member] | ' |
Property Plant And Equipment Estimated Useful Lifes [Line Items] | ' |
Estimated useful lives of assets (in years) | '3 years |
Building and building improvements [Member] | ' |
Property Plant And Equipment Estimated Useful Lifes [Line Items] | ' |
Estimated useful lives of assets (in years) | '30 years |
Minimum [Member] | Office furniture, machinery and equipment [Member] | ' |
Property Plant And Equipment Estimated Useful Lifes [Line Items] | ' |
Estimated useful lives of assets (in years) | '3 years |
Maximum [Member] | Office furniture, machinery and equipment [Member] | ' |
Property Plant And Equipment Estimated Useful Lifes [Line Items] | ' |
Estimated useful lives of assets (in years) | '12 years |
Summary_of_Significant_Account8
Summary of Significant Accounting Policies - Schedule of Accrued Warranty Activity (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Commitments And Contingencies Disclosure [Abstract] | ' | ' | ' |
Accrued warranty-beginning of period | $13,013 | $6,315 | $5,417 |
Warranty costs incurred | -19,160 | -3,424 | -2,750 |
Net changes in liability for pre-existing warranties, including expirations | -2,072 | ' | ' |
Provision for warranty | 61,401 | 10,122 | 3,648 |
Accrued warranty-end of period | $53,182 | $13,013 | $6,315 |
Summary_of_Significant_Account9
Summary of Significant Accounting Policies - Schedule of Potential Weighted Common Shares Outstanding that were Excluded from Computation of Basic and Diluted Net Loss per Share of Common Stock (Detail) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Stock options [Member] | ' | ' | ' |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ' | ' | ' |
Potential common shares excluded from computation of net loss per share | 13,881,355 | 25,007,776 | 15,806,663 |
Convertible senior notes [Member] | ' | ' | ' |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ' | ' | ' |
Potential common shares excluded from computation of net loss per share | 411,560 | ' | ' |
Employee stock purchase plan [Member] | ' | ' | ' |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ' | ' | ' |
Potential common shares excluded from computation of net loss per share | 23,296 | 59,763 | 39,131 |
Restricted stock units [Member] | ' | ' | ' |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ' | ' | ' |
Potential common shares excluded from computation of net loss per share | 224 | ' | ' |
DOE warrant [Member] | ' | ' | ' |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ' | ' | ' |
Potential common shares excluded from computation of net loss per share | 1,061,439 | 2,342,353 | 2,220,617 |
Common stock subject to repurchase [Member] | ' | ' | ' |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ' | ' | ' |
Potential common shares excluded from computation of net loss per share | ' | ' | 278 |
Balance_Sheet_Components_Sched
Balance Sheet Components - Schedule of Inventory (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Inventory Disclosure [Abstract] | ' | ' |
Raw materials | $184,665 | $163,637 |
Work in process | 42,500 | 24,535 |
Finished goods | 69,324 | 62,559 |
Service parts | 43,866 | 17,773 |
Total | $340,355 | $268,504 |
Balance_Sheet_Components_Addit
Balance Sheet Components - Additional Information (Detail) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Debt Disclosure [Abstract] | ' | ' | ' |
Inventories write-downs in cost of automotive sales | $8,648,000 | $4,929,000 | $1,828,000 |
Interest expense capitalized | 3,500,000 | 7,600,000 | ' |
Depreciation and amortization expense | 83,900,000 | 25,300,000 | 14,600,000 |
Total property and equipment assets under capital lease | 23,300,000 | 8,100,000 | ' |
Accumulated depreciation related to assets under capital lease | $5,000,000 | $1,000,000 | ' |
Balance_Sheet_Components_Sched1
Balance Sheet Components - Schedule of Property, Plant and Equipment, Net (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Property, Plant and Equipment [Line Items] | ' | ' |
Property, plant and equipment, gross | $878,636 | $609,772 |
Less: Accumulated depreciation and amortization | -140,142 | -57,543 |
Property, plant and equipment, net | 738,494 | 552,229 |
Office furniture, machinery and equipment [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Property, plant and equipment, gross | 322,394 | 223,745 |
Tooling [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Property, plant and equipment, gross | 230,385 | 172,584 |
Leasehold improvements [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Property, plant and equipment, gross | 94,763 | 39,224 |
Building and building improvements [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Property, plant and equipment, gross | 67,707 | 50,574 |
Land [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Property, plant and equipment, gross | 45,020 | 26,391 |
Computer equipment and software [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Property, plant and equipment, gross | 42,073 | 22,125 |
Construction in progress [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Property, plant and equipment, gross | $76,294 | $75,129 |
Balance_Sheet_Components_Sched2
Balance Sheet Components - Schedule of Other Assets (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Statement Of Financial Position [Abstract] | ' | ' |
Emission permits | $13,930 | $14,267 |
Debt issuance costs, net | 7,315 | ' |
Loan facility issuance costs, net | ' | 5,759 |
Other | 2,392 | 1,937 |
Total | $23,637 | $21,963 |
Balance_Sheet_Components_Sched3
Balance Sheet Components - Schedule of Accrued Liabilities (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Payables And Accruals [Abstract] | ' | ' |
Taxes payable | $38,067 | $9,710 |
Payroll and related costs | 26,535 | 15,525 |
Accrued warranty, current portion | 19,917 | 3,056 |
Accrued purchases | 19,023 | 10,334 |
Environmental liabilities, current portion | 2,132 | ' |
Other | 2,578 | 1,173 |
Total | $108,252 | $39,798 |
Balance_Sheet_Components_Sched4
Balance Sheet Components - Schedule of Other Long-Term Liabilities (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Statement Of Financial Position [Abstract] | ' | ' |
Accrued warranty, less current portion | $33,265 | $9,957 |
Deferred rent liability | 9,886 | 6,075 |
Deferred tax liabilities | 6,821 | 330 |
Environmental liabilities, less current portion | 3,364 | 5,300 |
Other | 4,861 | 3,508 |
Total | $58,197 | $25,170 |
Fair_Value_of_Financial_Instru2
Fair Value of Financial Instruments - Schedule of Fair Value Hierarchy of Financial Assets and Financial Liabilities Carried at Fair Value (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
In Thousands, unless otherwise specified | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' |
Common stock warrant liability | ' | $10,692 | $8,838 |
Money market funds [Member] | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' |
Financial assets, Fair Value | 460,313 | 60,272 | ' |
Level I [Member] | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' |
Common stock warrant liability | ' | ' | ' |
Level I [Member] | Money market funds [Member] | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' |
Financial assets, Fair Value | 460,313 | 60,272 | ' |
Level II [Member] | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' |
Common stock warrant liability | ' | ' | ' |
Level II [Member] | Money market funds [Member] | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' |
Financial assets, Fair Value | ' | ' | ' |
Level III [Member] | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' |
Common stock warrant liability | ' | 10,692 | ' |
Level III [Member] | Money market funds [Member] | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' |
Financial assets, Fair Value | ' | ' | ' |
Fair_Value_of_Financial_Instru3
Fair Value of Financial Instruments - Schedule of Changes in Fair Value of Common Stock Warrant Liability (Detail) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Fair Value Disclosures [Abstract] | ' | ' |
Fair value, beginning of period | $10,692 | $8,838 |
Change in fair value | -10,692 | 1,854 |
Fair value, end of period | ' | $10,692 |
Fair_Value_of_Financial_Instru4
Fair Value of Financial Instruments - Additional Information (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||
Equity Method Investments And Cost Method Investments [Abstract] | ' | ' |
Estimated fair value of notes | $914.90 | $366.90 |
Par value of convertible senior notes | $660 | $452.30 |
Customer_Deposits_Additional_I
Customer Deposits - Additional Information (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Other Liabilities Disclosure [Abstract] | ' | ' |
Customer deposits | $163,153 | $138,817 |
Convertible_Notes_and_Longterm1
Convertible Notes and Long-term Debt Obligations - 1.50% Convertible Senior Notes and Bond Hedge and Warrant Transactions - Additional Information (Detail) (USD $) | 3 Months Ended | 12 Months Ended | 1 Months Ended | 12 Months Ended | 12 Months Ended | ||||||||
Dec. 31, 2013 | Dec. 31, 2013 | 31-May-13 | Dec. 31, 2012 | Oct. 31, 2012 | Jun. 30, 2011 | 31-May-13 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | |
D | 1.50% Convertible Senior Notes [Member] | 1.50% Convertible Senior Notes [Member] | Warrants [Member] | Minimum [Member] | Minimum [Member] | Maximum [Member] | Maximum [Member] | ||||||
D | 1.50% Convertible Senior Notes [Member] | Warrants [Member] | 1.50% Convertible Senior Notes [Member] | Warrants [Member] | |||||||||
Debt Instrument [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Principal amount of Notes | ' | ' | ' | ' | ' | ' | $660,000,000 | ' | ' | ' | ' | ' | ' |
Debt instrument interest rate | ' | ' | ' | ' | ' | ' | 1.50% | ' | ' | ' | ' | ' | ' |
Proceeds from convertible senior notes, net of underwriting discounts and offering costs | ' | ' | ' | ' | ' | ' | 648,000,000 | ' | ' | ' | ' | ' | ' |
Debt issuance costs | ' | ' | ' | ' | ' | ' | 12,000,000 | ' | ' | ' | ' | ' | ' |
Debt payment due dates | ' | 'Payable semi-annually in arrears on June 1 and December 1 of each year, commencing on December 1, 2013 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt, interest expense | ' | 1,200,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Coupon interest expense | ' | 5,900,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Convertible principal amount | ' | 1,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Convertible instrument, shares issued | ' | 8.0306 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt instrument convertible, conversion price per share | $124.52 | $124.52 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Common stock price to conversion price, number of consecutive trading days | '30 days | ' | ' | ' | ' | ' | ' | ' | ' | '20 days | ' | '30 days | ' |
Common stock price to conversion price, number of trading days | 20 | ' | ' | ' | ' | ' | ' | 5 | ' | ' | ' | ' | ' |
Debt instrument convertible, percentage of conversion price | ' | ' | ' | ' | ' | ' | ' | 130.00% | ' | ' | ' | ' | ' |
Average percentage of closing sale price of common stock | ' | ' | ' | ' | ' | ' | ' | 98.00% | ' | ' | ' | ' | ' |
Percentage of repurchase price is equal to principal amount of convertible notes | ' | 100.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt conversion, converted instrument, amount | 82,800,000 | 82,800,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt instrument, effective interest rate | 4.29% | 4.29% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Amortization of debt discount | ' | 9,143,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Long-term debt, less current portion | 0 | 0 | ' | 401,495,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Payment for purchase of common stock | 5,300,000 | 5,300,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Common stock purchase price | $124.52 | $124.52 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Hedge transactions | ' | 177,500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Common stock share issued | 123,090,990 | 123,090,990 | 3,902,862 | 114,214,274 | 7,964,601 | 6,095,000 | ' | ' | 5,300,000 | ' | ' | ' | ' |
Common stock par value | $0.00 | $0.00 | ' | $0.00 | ' | ' | ' | ' | $184.48 | ' | ' | ' | ' |
Proceeds from issuance of warrants | ' | $120,318,000 | ' | ' | ' | ' | ' | ' | $120,300,000 | ' | ' | ' | ' |
Conversion price per share | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $124.52 | ' | $184.48 |
Common stock price to conversion price, percentage | 130.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Convertible_Notes_and_Longterm2
Convertible Notes and Long-term Debt Obligations - Full Repayment of Department of Energy Loan Facility - Additional Information (Detail) (USD $) | 12 Months Ended | |
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Debt Instrument [Line Items] | ' | ' |
Loan facility, initiation date | 20-Jan-10 | ' |
Number of multi-draw term loan facilities available | 2 | ' |
Multi-draw term loan facilities aggregate principal amount | $465 | ' |
Minimum percentage of capital stock required to be held by affiliates | 65.00% | ' |
DOE Loan Facility [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Debt instrument payment including principal and interest | 451.8 | ' |
Debt instrument payment of outstanding amount | 441 | ' |
Debt instrument penalty for early repayment | 10.8 | ' |
Reserve for loan repayment | 29.3 | ' |
Loan facility, maturity date | 15-Dec-17 | ' |
Repayment of Loan Facility, Percentage | 100.00% | ' |
Early payment of outstanding principal under DOE loan facility | 1.00% | ' |
Percentage of additional quarterly prepayments | 20.00% | ' |
Percentage of additional quarterly prepayments | 35.00% | ' |
Amount funded from company | ' | $14.90 |
Convertible_Notes_and_Longterm3
Convertible Notes and Long-term Debt Obligations - DOE Warrant Expiration - Additional Information (Detail) (USD $) | 12 Months Ended | |||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Jan. 31, 2013 | |
Debt Instrument [Line Items] | ' | ' | ' | ' |
Warrant issued to DOE, shares purchasable | ' | ' | ' | 3,090,111 |
Exercise price of the warrant issued, price per share | ' | ' | ' | 7.54 |
Fair value of warrant at issuance | $120,318,000 | ' | ' | ' |
Interest expense amortized during period | ' | 600,000 | 600,000 | ' |
Series E convertible preferred stock [Member] | ' | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' | ' |
Warrant issued to DOE, shares purchasable | ' | ' | ' | 9,255,035 |
Exercise price of the warrant issued, price per share | ' | ' | ' | 2.51 |
DOE Loan Facility [Member] | ' | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' | ' |
Fair value of warrant at issuance | 6,300,000 | ' | ' | ' |
Facility fee paid to Department of Energy | 500,000 | ' | ' | ' |
Other debt issuance costs | 900,000 | ' | ' | ' |
Interest expense amortized during period | 5,800,000 | ' | ' | ' |
DOE warrant [Member] | ' | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' | ' |
Other income recognized for change in fair value of warrant | ' | 10,700,000 | ' | ' |
Expense recognized for change in fair value of warrant | ' | 1,900,000 | 2,800,000 | ' |
Fair value of the DOE warrant | $10,700,000 | ' | ' | ' |
Common_Stock_Additional_Inform
Common Stock - Additional Information (Detail) (USD $) | 1 Months Ended | ||||
31-May-13 | Oct. 31, 2012 | Jun. 30, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | |
Overview Of The Company [Line Items] | ' | ' | ' | ' | ' |
Common stock shares sold | 3,902,862 | 7,964,601 | 6,095,000 | 123,090,990 | 114,214,274 |
Cash proceeds from sale of common stock | $355,500,000 | $222,100,000 | $172,700,000 | ' | ' |
Payment of underwriting discounts or commissions were paid in connection with private placements | ' | ' | 0 | ' | ' |
Principal amount of convertible senior notes | ' | ' | ' | 660,000,000 | 452,300,000 |
1.50% Convertible Senior Notes [Member] | ' | ' | ' | ' | ' |
Overview Of The Company [Line Items] | ' | ' | ' | ' | ' |
Principal amount of convertible senior notes | 660,000,000 | ' | ' | ' | ' |
Debt instrument interest rate | 1.50% | ' | ' | ' | ' |
Proceeds from convertible senior notes, net of underwriting discounts and offering costs | 648,000,000 | ' | ' | ' | ' |
Chief Executive Officer [Member] | ' | ' | ' | ' | ' |
Overview Of The Company [Line Items] | ' | ' | ' | ' | ' |
Common stock shares sold | 487,857 | 35,398 | 1,416,000 | ' | ' |
Cash proceeds from sale of common stock | 45,000,000 | 1,000,000 | ' | ' | ' |
Chief Executive Officer [Member] | Private placement [Member] | ' | ' | ' | ' | ' |
Overview Of The Company [Line Items] | ' | ' | ' | ' | ' |
Common stock shares sold | 596,272 | ' | ' | ' | ' |
Cash proceeds from sale of common stock | 55,000,000 | ' | ' | ' | ' |
Blackstar Investco LLC [Member] | ' | ' | ' | ' | ' |
Overview Of The Company [Line Items] | ' | ' | ' | ' | ' |
Common stock shares sold | ' | ' | 637,475 | ' | ' |
Cash proceeds from sale of common stock | ' | ' | $59,100,000 | ' | ' |
Equity_Incentive_Plans_Additio
Equity Incentive Plans - Additional Information (Detail) (USD $) | 1 Months Ended | 12 Months Ended | 12 Months Ended | 1 Months Ended | 12 Months Ended | 1 Months Ended | 12 Months Ended | 1 Months Ended | 12 Months Ended | |||||||||||||||||||||
Aug. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2009 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Sep. 30, 2010 | Jun. 30, 2010 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2011 | Aug. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | |
Tranches | Employee Stock [Member] | Restricted Stock Units [Member] | Model S Engineering Prototype [Member] | Model S Validation Prototype [Member] | First Model S Production Vehicle [Member] | 10,000th Model S Production Vehicle [Member] | Eighth Tranche [Member] | Ninth Tranche [Member] | Tenth Tranche [Member] | Employee stock purchase plan [Member] | Employee stock purchase plan [Member] | Employee stock purchase plan [Member] | Chief Executive Officer [Member] | Chief Executive Officer [Member] | Chief Executive Officer [Member] | Chief Executive Officer [Member] | Members of senior management [Member] | Members of senior management [Member] | Members of senior management [Member] | Members of senior management [Member] | Members of senior management [Member] | Director [Member] | 2012 CEO Grant [Member] | 2012 CEO Grant [Member] | 2012 CEO Grant [Member] | |||||
Vehicle | Vehicle | Vehicle | ||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Vesting period, in years | ' | '4 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '3 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Contractual term of stock options, in years | ' | 'Ten | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Shares available for grant | ' | 23,318,526 | 469,531 | 9,919,107 | 9,407,975 | 3,615,749 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of stock options granted outside the plan | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 33,333 | ' | ' | ' |
Weighted average exercise price of outstanding non-employee options | ' | $26.70 | $21.20 | $13.35 | $8.62 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $1.80 | ' | ' | ' |
Aggregate intrinsic value of options outstanding | ' | $2,800,000,000 | $317,700,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Intrinsic value of options exercisable | ' | 1,480,000,000 | 233,300,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Intrinsic value of options vested and expected to vest | ' | 2,800,000,000 | 280,700,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total intrinsic value of options exercised | ' | 294,000,000 | 35,100,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Aggregate intrinsic value of RSUs | ' | ' | ' | ' | ' | ' | 101,900,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Weighted-average grant-date fair value for option awards granted | ' | $40.72 | $16.37 | $17.43 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Weighted-average grant-date fair value for ESPP granted | ' | ' | ' | ' | ' | ' | $155.51 | ' | ' | ' | ' | ' | ' | ' | $19.22 | $8.99 | $7.52 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Percentage of fully-diluted shares granted on approval | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of stock options granted | ' | 2,643,821 | 11,854,941 | 4,011,973 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3,355,986 | ' | ' | ' | 20,000 | 666,300 | ' | ' | ' | ' | ' | ' | ' |
Additional percentage of fully-diluted shares granted on approval | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stock options with vesting schedule based on attainment of performance objectives | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3,355,986 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Portion of stock options scheduled to vest upon successful completion of performance objectives | ' | ' | ' | ' | ' | ' | ' | 0.25 | 0.25 | 0.25 | 0.25 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stock-based compensation expense | ' | 80,737,000 | 50,145,000 | 29,419,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 400,000 | 4,200,000 | 6,300,000 | ' | ' | 800,000 | 1,400,000 | 4,900,000 | ' | ' | 14,500,000 | 1,300,000 |
Number of stock options granted | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5,274,901 | ' | ' |
CEO Grant consists of number of vesting tranches | 10 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Market capitalization | ' | 4,000,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Initial market capitalization | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3,200,000,000 | ' |
Gross margin | ' | 30.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Aggregate number of vehicle production | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 100,000 | 200,000 | 300,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Vesting period of grant | ' | '10 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Risk-free interest rate | ' | 1.65% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Expected term, in years | ' | '10 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Expected volatility | ' | 55.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Dividend yield | ' | 0.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of stock options vested | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' |
Cash compensation received by CEO | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' |
Unrecognized compensation expense | ' | 227,300,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Weighted-average period of recognition of unrecognized compensation, in years | ' | '5 years 2 months 12 days | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Percentage of payroll deductions of employees eligible compensation | ' | 15.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Percentage of discount on purchase price of shares lower than fair market value | ' | 85.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of shares issued under ESPP | ' | 518,743 | 373,526 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of shares issued under ESPP, value | ' | $13,849,000 | $8,389,000 | $3,882,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of shares available for issuance under ESPP | ' | ' | ' | ' | ' | 2,500,022 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Equity_Incentive_Plans_Summary
Equity Incentive Plans - Summary of Stock Option and RSU Activity Under Plan (Detail) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Shares Available for Grant, Beginning Balance | 469,531 | 9,919,107 | 9,407,975 |
Shares Available for Grant, Additional options reserved | 3,426,428 | 1,064,046 | 3,796,342 |
Shares Available for Grant, Granted | -3,345,899 | -11,854,941 | -4,011,973 |
Shares Available for Grant, Exercised | ' | ' | ' |
Shares Available for Grant, Cancelled | 1,170,445 | 1,341,319 | 726,763 |
Shares Available for Grant, Ending Balance | 23,318,526 | 469,531 | 9,919,107 |
Number of Options, Beginning Balance | 25,007,776 | 15,806,663 | 13,738,122 |
Number of Options, Granted | 2,643,821 | 11,854,941 | 4,011,973 |
Number of Options, Exercised | -3,852,673 | -1,312,439 | -1,216,669 |
Number of Options, Cancelled | -1,157,982 | -1,341,389 | -726,763 |
Number of Options, Ending Balance | 22,640,942 | 25,007,776 | 15,806,663 |
Weighted Average Exercise Price, Beginning Balance | $21.20 | $13.35 | $8.62 |
Weighted Average Exercise Price, Granted | $74.17 | $31.18 | $27.49 |
Weighted Average Exercise Price, Exercised | $21.42 | $12.52 | $5.41 |
Weighted Average Exercise Price, Cancelled | $36.47 | $25.51 | $15.26 |
Weighted Average Exercise Price, Ending Balance | $26.70 | $21.20 | $13.35 |
Number of RSUs, Beginning Balance | ' | ' | ' |
Number of RSUs, Granted | 702,078 | ' | ' |
Number of RSUs, Exercised | ' | ' | ' |
Number of RSUs, Cancelled | -12,463 | ' | ' |
Number of RSUs, Released | -12,031 | ' | ' |
Number of RSUs, Ending Balance | 677,584 | ' | ' |
Restricted Stock Units [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Weighted Average Grant Date Fair Value, Beginning Balance | ' | ' | ' |
Weighted Average Grant Date Fair Value, Granted | $155.51 | ' | ' |
Weighted Average Grant Date Fair Value, Exercised | ' | ' | ' |
Weighted Average Grant Date Fair Value, Cancelled | $154.92 | ' | ' |
Weighted Average Grant Date Fair Value, Released | $160.98 | ' | ' |
Weighted Average Grant Date Fair Value, Ending Balance | $155.41 | ' | ' |
Equity_Incentive_Plans_Schedul
Equity Incentive Plans - Schedule of Stock Options Outstanding and Exercisable (Detail) (USD $) | 12 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2012 | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' | ' |
Options Outstanding, Number | 22,640,942 | 25,007,776 |
Options Outstanding, Weighted Average Exercise Price | $26.70 | $21.20 |
Options Outstanding, Weighted Average Remaining Contractual Life (in years) | '6 years 4 months 13 days | '6 years 11 months 27 days |
Options Exercisable, Number | 10,714,106 | 10,231,893 |
Options Exercisable, Weighted Average Exercise Price | $12.37 | $11.07 |
Options Exercisable, Weighted Average Remaining Contractual Life (in years) | '4 years 4 days | '5 years 4 months 6 days |
$0.15 - $6.15 [Member] | ' | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' | ' |
Range of Exercise Price, Lower limit | $0.15 | $0.15 |
Range of Exercise Price, Upper limit | $6.15 | $6.15 |
Options Outstanding, Number | 523,182 | 1,037,664 |
Options Outstanding, Weighted Average Exercise Price | $3.16 | $3.08 |
Options Outstanding, Weighted Average Remaining Contractual Life (in years) | '0 years | ' |
Options Exercisable, Number | 516,728 | 924,801 |
Options Exercisable, Weighted Average Exercise Price | $3.16 | $2.98 |
Options Exercisable, Weighted Average Remaining Contractual Life (in years) | '0 years | ' |
$6.63 - $6.63 [Member] | ' | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' | ' |
Range of Exercise Price, Lower limit | $6.63 | $6.63 |
Range of Exercise Price, Upper limit | $6.63 | $6.63 |
Options Outstanding, Number | 7,096,725 | 7,475,413 |
Options Outstanding, Weighted Average Exercise Price | $6.63 | $6.63 |
Options Outstanding, Weighted Average Remaining Contractual Life (in years) | '0 years | ' |
Options Exercisable, Number | 7,093,020 | 6,456,263 |
Options Exercisable, Weighted Average Exercise Price | $6.63 | $6.63 |
Options Exercisable, Weighted Average Remaining Contractual Life (in years) | '0 years | ' |
$9.96 - $25.27 [Member] | ' | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' | ' |
Range of Exercise Price, Lower limit | ' | $9.96 |
Range of Exercise Price, Upper limit | ' | $25.27 |
Options Outstanding, Number | ' | 2,682,735 |
Options Outstanding, Weighted Average Exercise Price | ' | $19 |
Options Exercisable, Number | ' | 1,446,362 |
Options Exercisable, Weighted Average Exercise Price | ' | $17.98 |
$27.25 - $29.12 [Member] | ' | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' | ' |
Range of Exercise Price, Lower limit | ' | $27.25 |
Range of Exercise Price, Upper limit | ' | $29.12 |
Options Outstanding, Number | ' | 2,522,885 |
Options Outstanding, Weighted Average Exercise Price | ' | $28.18 |
Options Exercisable, Number | ' | 801,246 |
Options Exercisable, Weighted Average Exercise Price | ' | $28.30 |
$29.25 - $31.07 [Member] | ' | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' | ' |
Range of Exercise Price, Lower limit | ' | $29.25 |
Range of Exercise Price, Upper limit | ' | $31.07 |
Options Outstanding, Number | ' | 1,680,276 |
Options Outstanding, Weighted Average Exercise Price | ' | $30.14 |
Options Exercisable, Number | ' | 158,300 |
Options Exercisable, Weighted Average Exercise Price | ' | $30.36 |
$31.17 - $31.17 [Member] | ' | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' | ' |
Range of Exercise Price, Lower limit | ' | $31.17 |
Range of Exercise Price, Upper limit | ' | $31.17 |
Options Outstanding, Number | ' | 5,865,560 |
Options Outstanding, Weighted Average Exercise Price | ' | $31.17 |
Options Exercisable, Number | ' | 19,524 |
Options Exercisable, Weighted Average Exercise Price | ' | $31.17 |
$31.49 - $33.15 [Member] | ' | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' | ' |
Range of Exercise Price, Lower limit | ' | $31.49 |
Range of Exercise Price, Upper limit | ' | $33.15 |
Options Outstanding, Number | ' | 2,686,684 |
Options Outstanding, Weighted Average Exercise Price | ' | $31.80 |
Options Exercisable, Number | ' | 318,914 |
Options Exercisable, Weighted Average Exercise Price | ' | $31.51 |
$33.22 - $34.00 [Member] | ' | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' | ' |
Range of Exercise Price, Lower limit | ' | $33.22 |
Range of Exercise Price, Upper limit | ' | $34 |
Options Outstanding, Number | ' | 390,314 |
Options Outstanding, Weighted Average Exercise Price | ' | $33.29 |
Options Exercisable, Number | ' | 103,184 |
Options Exercisable, Weighted Average Exercise Price | ' | $33.22 |
$34.57 - $34.57 [Member] | ' | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' | ' |
Range of Exercise Price, Lower limit | ' | $34.57 |
Range of Exercise Price, Upper limit | ' | $34.57 |
Options Outstanding, Number | ' | 475,275 |
Options Outstanding, Weighted Average Exercise Price | ' | $34.57 |
Options Exercisable, Number | ' | 1,750 |
Options Exercisable, Weighted Average Exercise Price | ' | $34.57 |
$36.01 - $36.01 [Member] | ' | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' | ' |
Range of Exercise Price, Lower limit | ' | $36.01 |
Range of Exercise Price, Upper limit | ' | $36.01 |
Options Outstanding, Number | ' | 190,970 |
Options Outstanding, Weighted Average Exercise Price | ' | $36.01 |
Options Exercisable, Number | ' | 1,549 |
Options Exercisable, Weighted Average Exercise Price | ' | $36.01 |
$9.96 - $28.35 [Member] | ' | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' | ' |
Range of Exercise Price, Lower limit | $9.96 | ' |
Range of Exercise Price, Upper limit | $28.35 | ' |
Options Outstanding, Number | 2,266,058 | ' |
Options Outstanding, Weighted Average Exercise Price | $22.08 | ' |
Options Outstanding, Weighted Average Remaining Contractual Life (in years) | '0 years | ' |
Options Exercisable, Number | 1,302,499 | ' |
Options Exercisable, Weighted Average Exercise Price | $19.70 | ' |
Options Exercisable, Weighted Average Remaining Contractual Life (in years) | '0 years | ' |
$28.43 - $31.07 [Member] | ' | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' | ' |
Range of Exercise Price, Lower limit | $28.43 | ' |
Range of Exercise Price, Upper limit | $31.07 | ' |
Options Outstanding, Number | 2,136,721 | ' |
Options Outstanding, Weighted Average Exercise Price | $29.48 | ' |
Options Outstanding, Weighted Average Remaining Contractual Life (in years) | '0 years | ' |
Options Exercisable, Number | 864,050 | ' |
Options Exercisable, Weighted Average Exercise Price | $29.24 | ' |
Options Exercisable, Weighted Average Remaining Contractual Life (in years) | '0 years | ' |
$31.07 - $31.07 [Member] | ' | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' | ' |
Range of Exercise Price, Lower limit | $31.07 | ' |
Range of Exercise Price, Upper limit | $31.07 | ' |
Options Outstanding, Number | 5,715,734 | ' |
Options Outstanding, Weighted Average Exercise Price | $31.17 | ' |
Options Outstanding, Weighted Average Remaining Contractual Life (in years) | '0 years | ' |
Options Exercisable, Number | 91,541 | ' |
Options Exercisable, Weighted Average Exercise Price | $31.17 | ' |
Options Exercisable, Weighted Average Remaining Contractual Life (in years) | '0 years | ' |
$31.49 - $34.00 [Member] | ' | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' | ' |
Range of Exercise Price, Lower limit | $31.49 | ' |
Range of Exercise Price, Upper limit | $34 | ' |
Options Outstanding, Number | 2,288,998 | ' |
Options Outstanding, Weighted Average Exercise Price | $32.07 | ' |
Options Outstanding, Weighted Average Remaining Contractual Life (in years) | '0 years | ' |
Options Exercisable, Number | 707,052 | ' |
Options Exercisable, Weighted Average Exercise Price | $31.98 | ' |
Options Exercisable, Weighted Average Remaining Contractual Life (in years) | '0 years | ' |
$34.57 - $141.60 [Member] | ' | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' | ' |
Range of Exercise Price, Lower limit | $34.57 | ' |
Range of Exercise Price, Upper limit | $141.60 | ' |
Options Outstanding, Number | 2,266,350 | ' |
Options Outstanding, Weighted Average Exercise Price | $60.57 | ' |
Options Outstanding, Weighted Average Remaining Contractual Life (in years) | '0 years | ' |
Options Exercisable, Number | 127,674 | ' |
Options Exercisable, Weighted Average Exercise Price | $45.62 | ' |
Options Exercisable, Weighted Average Remaining Contractual Life (in years) | '0 years | ' |
$144.70 - $147.38 [Member] | ' | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' | ' |
Range of Exercise Price, Lower limit | $144.70 | ' |
Range of Exercise Price, Upper limit | $147.38 | ' |
Options Outstanding, Number | 252,945 | ' |
Options Outstanding, Weighted Average Exercise Price | $147.31 | ' |
Options Outstanding, Weighted Average Remaining Contractual Life (in years) | '0 years | ' |
Options Exercisable, Number | 11,542 | ' |
Options Exercisable, Weighted Average Exercise Price | $147.38 | ' |
Options Exercisable, Weighted Average Remaining Contractual Life (in years) | '0 years | ' |
$160.70 - $160.70 [Member] | ' | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' | ' |
Range of Exercise Price, Lower limit | $160.70 | ' |
Range of Exercise Price, Upper limit | $160.70 | ' |
Options Outstanding, Number | 18,975 | ' |
Options Outstanding, Weighted Average Exercise Price | $160.70 | ' |
Options Outstanding, Weighted Average Remaining Contractual Life (in years) | '0 years | ' |
Options Exercisable, Number | ' | ' |
Options Exercisable, Weighted Average Exercise Price | ' | ' |
Options Exercisable, Weighted Average Remaining Contractual Life (in years) | '0 years | ' |
$179.72 - $179.72 [Member] | ' | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' | ' |
Range of Exercise Price, Lower limit | $179.72 | ' |
Range of Exercise Price, Upper limit | $179.72 | ' |
Options Outstanding, Number | 75,254 | ' |
Options Outstanding, Weighted Average Exercise Price | $179.72 | ' |
Options Outstanding, Weighted Average Remaining Contractual Life (in years) | '0 years | ' |
Options Exercisable, Number | ' | ' |
Options Exercisable, Weighted Average Exercise Price | ' | ' |
Options Exercisable, Weighted Average Remaining Contractual Life (in years) | '0 years | ' |
Equity_Incentive_Plans_Schedul1
Equity Incentive Plans - Schedule of Fair Value of Option Award and ESPP on Grant Date (Detail) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Risk-free interest rate | 1.65% | ' | ' |
Expected volatility | 55.00% | ' | ' |
Dividend yield | 0.00% | ' | ' |
Stock options [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Risk-free interest rate | 1.30% | 1.00% | 2.00% |
Expected term (in years) | '6 years 1 month 6 days | '5 years 10 months 24 days | '6 years |
Expected volatility | 57.00% | 63.00% | 70.00% |
Dividend yield | 0.00% | 0.00% | 0.00% |
Employee stock purchase plan [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Risk-free interest rate | 0.10% | 0.20% | 0.20% |
Expected term (in years) | '6 months | '6 months | '6 months |
Expected volatility | 43.00% | 51.00% | 59.00% |
Dividend yield | 0.00% | 0.00% | 0.00% |
Equity_Incentive_Plans_Summary1
Equity Incentive Plans - Summary of Stock-Based Compensation Expense (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | ' | ' |
Stock-based compensation expense | $83,655 | $50,145 | $29,419 |
Cost of sales [Member] | ' | ' | ' |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | ' | ' |
Stock-based compensation expense | 9,071 | 2,194 | 670 |
Research and development [Member] | ' | ' | ' |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | ' | ' |
Stock-based compensation expense | 35,494 | 26,580 | 13,377 |
Selling, general and administrative [Member] | ' | ' | ' |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | ' | ' |
Stock-based compensation expense | $39,090 | $21,371 | $15,372 |
Income_Taxes_Additional_Inform
Income Taxes - Additional Information (Detail) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Income Taxes [Line Items] | ' | ' | ' |
Provision for income taxes | $2,588,000 | $136,000 | $489,000 |
Operating loss carry-forwards, windfall tax benefits recorded as additional paid-in capital | 246,000,000 | ' | ' |
Research and development tax credits | 32,175,000 | 21,427,000 | ' |
Undistributed earnings, reinvested | 5,100,000 | ' | ' |
Deferred tax liability | 39,244,000 | 16,361,000 | ' |
Unrecognized tax benefits, that would not affect effective tax rate | 11,800,000 | ' | ' |
Federal [Member] | ' | ' | ' |
Income Taxes [Line Items] | ' | ' | ' |
Operating loss carry-forwards | 1,130,000,000 | ' | ' |
Operating loss carry-forwards beginning to expire in the year | 31-Dec-24 | ' | ' |
Research and development tax credits | 23,500,000 | ' | ' |
Research and development tax credits, federal carry-forwards expiration date | '2019 | ' | ' |
Federal [Member] | Minimum [Member] | ' | ' | ' |
Income Taxes [Line Items] | ' | ' | ' |
Income tax examination, years | '2003 | ' | ' |
Federal [Member] | Maximum [Member] | ' | ' | ' |
Income Taxes [Line Items] | ' | ' | ' |
Income tax examination, years | '2012 | ' | ' |
California [Member] | ' | ' | ' |
Income Taxes [Line Items] | ' | ' | ' |
Operating loss carry-forwards | 663,500,000 | ' | ' |
California [Member] | Minimum [Member] | ' | ' | ' |
Income Taxes [Line Items] | ' | ' | ' |
Income tax examination, years | '2003 | ' | ' |
California [Member] | Maximum [Member] | ' | ' | ' |
Income Taxes [Line Items] | ' | ' | ' |
Income tax examination, years | '2012 | ' | ' |
State [Member] | ' | ' | ' |
Income Taxes [Line Items] | ' | ' | ' |
Operating loss carry-forwards beginning to expire in the year | 31-Dec-19 | ' | ' |
Research and development tax credits | 26,100,000 | ' | ' |
U.S. and foreign jurisdictions [Member] | Minimum [Member] | ' | ' | ' |
Income Taxes [Line Items] | ' | ' | ' |
Income tax examination, years | '2007 | ' | ' |
U.S. and foreign jurisdictions [Member] | Maximum [Member] | ' | ' | ' |
Income Taxes [Line Items] | ' | ' | ' |
Income tax examination, years | '2012 | ' | ' |
Foreign [Member] | ' | ' | ' |
Income Taxes [Line Items] | ' | ' | ' |
Provision for income taxes | $2,600,000 | $100,000 | $500,000 |
Income_Taxes_Schedule_of_Net_L
Income Taxes - Schedule of Net Loss before Provision for Income Taxes (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Income Tax Disclosure [Abstract] | ' | ' | ' |
Domestic | $75,279 | $396,549 | $254,761 |
International | -3,853 | -472 | -839 |
Loss before income taxes | $71,426 | $396,077 | $253,922 |
Income_Taxes_Components_of_Pro
Income Taxes - Components of Provision for Income Taxes (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Current: | ' | ' | ' |
Federal, Current | ' | ' | ' |
State, Current | 178 | 23 | 29 |
Foreign, Current | 2,349 | 282 | 437 |
Total current | 2,527 | 305 | 466 |
Deferred: | ' | ' | ' |
Federal, Deferred | ' | ' | ' |
State, Deferred | ' | ' | ' |
Foreign, Deferred | 61 | -169 | 23 |
Total deferred | 61 | -169 | 23 |
Provision for income taxes | $2,588 | $136 | $489 |
Income_Taxes_Schedule_of_Defer
Income Taxes - Schedule of Deferred Tax Assets (Liabilities) (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Deferred tax assets: | ' | ' |
Net operating loss carry-forwards | $341,172 | $365,472 |
Research and development credits | 32,175 | 21,427 |
Other tax credits | 166 | 120 |
Deferred revenue | 42,491 | 719 |
Inventory and warranty reserves | 23,260 | 8,272 |
Depreciation and amortization | 68 | 74 |
Stock-based compensation | 27,663 | 18,135 |
Convertible debt | 22,930 | ' |
Accruals and others | 21,795 | 5,314 |
Total deferred tax assets | 511,720 | 419,533 |
Valuation allowance | -472,375 | -403,006 |
Deferred tax assets, net of valuation allowance | 39,345 | 16,527 |
Deferred tax liabilities: | ' | ' |
Section 481(a) and others | ' | -400 |
Depreciation and amortization | -39,244 | -15,961 |
Total deferred tax liabilities | -39,244 | -16,361 |
Deferred tax assets, net of valuation allowance and deferred tax liabilities | $101 | $166 |
Income_Taxes_Schedule_of_Recon
Income Taxes - Schedule of Reconciliation of Statutory Federal Income Taxes to Effective Taxes (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Income Tax Disclosure [Abstract] | ' | ' | ' |
Tax at statutory federal rate | ($25,001) | ($134,702) | ($86,333) |
State tax, net of federal benefit | 178 | -12,580 | -8,118 |
Nondeductible expenses | 733 | 9,897 | 10,742 |
Foreign income rate differential | -253 | 262 | -56 |
U.S. tax credits | -6,682 | -2,785 | -5,049 |
Other reconciling items | 1,317 | 525 | 1,589 |
Change in valuation allowance | 32,296 | 139,519 | 87,714 |
Provision for income taxes | $2,588 | $136 | $489 |
Income_Taxes_Schedule_of_Aggre
Income Taxes - Schedule of Aggregate Changes in Balance of Gross Unrecognized Tax Benefits (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Income Tax Disclosure [Abstract] | ' | ' | ' |
Unrecognized tax benefits, beginning balance | $18,070 | $17,430 | $16,393 |
Decreases in balances related to prior year tax positions | -7,802 | ' | ' |
Increases in balances related to current year tax positions | 3,102 | 640 | 1,037 |
Unrecognized tax benefits, ending balance | $13,370 | $18,070 | $17,430 |
Information_about_Geographic_A2
Information about Geographic Areas - Additional Information (Detail) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Segment | |||||||||||
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of reporting segment | ' | ' | ' | ' | ' | ' | ' | ' | 1 | ' | ' |
Revenues | $615,219 | $431,346 | $405,139 | $561,792 | $306,332 | $50,104 | $26,653 | $30,167 | $2,013,496 | $413,256 | $204,242 |
United States [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues | ' | ' | ' | ' | ' | ' | ' | ' | 1,500,000 | 341,500 | 103,900 |
Norway [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues | ' | ' | ' | ' | ' | ' | ' | ' | $217,100 | ' | ' |
Information_about_Geographic_A3
Information about Geographic Areas - Schedule of Revenues by Geographic Area (Detail) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues | $615,219 | $431,346 | $405,139 | $561,792 | $306,332 | $50,104 | $26,653 | $30,167 | $2,013,496 | $413,256 | $204,242 |
North America [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues | ' | ' | ' | ' | ' | ' | ' | ' | 1,545,413 | 355,325 | 109,233 |
Europe [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues | ' | ' | ' | ' | ' | ' | ' | ' | 467,079 | 50,318 | 84,397 |
Asia [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues | ' | ' | ' | ' | ' | ' | ' | ' | $1,004 | $7,613 | $10,612 |
Information_about_Geographic_A4
Information about Geographic Areas - Schedule of Long-Lived Assets by Geographic Area (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Schedule Of Assets By Segment [Line Items] | ' | ' |
Long-lived Assets | $1,120,919 | $562,300 |
United States [Member] | ' | ' |
Schedule Of Assets By Segment [Line Items] | ' | ' |
Long-lived Assets | 1,091,487 | 552,302 |
International [Member] | ' | ' |
Schedule Of Assets By Segment [Line Items] | ' | ' |
Long-lived Assets | $29,432 | $9,998 |
Strategic_Partnerships_Additio
Strategic Partnerships - Additional Information (Detail) (USD $) | 12 Months Ended | 1 Months Ended | 12 Months Ended | 1 Months Ended | ||||||||||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Oct. 31, 2010 | Dec. 31, 2012 | Dec. 31, 2011 | Oct. 31, 2010 | |
Toyota supply and services agreement [Member] | Toyota supply and services agreement [Member] | Daimler Mercedes-Benz EV Program [Member] | Daimler Mercedes-Benz EV Program [Member] | Toyota RAV4 Program Phase 0 agreement [Member] | Toyota RAV4 Program Phase 0 agreement [Member] | Toyota RAV4 Program Phase 0 agreement [Member] | Toyota RAV4 Program Phase 1 contract services agreement [Member] | Toyota RAV4 Program Phase 1 contract services agreement [Member] | Toyota RAV4 Program Phase 1 contract services agreement [Member] | Upfront payment arrangement [Member] | ||||
Vehicle | ||||||||||||||
Limited Partners' Capital Account [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Development services revenue recognized | $15,710,000 | $27,557,000 | $55,674,000 | ' | ' | $15,600,000 | $15,900,000 | $0 | $0 | $7,600,000 | ' | $10,700,000 | $47,400,000 | ' |
Future milestone payments | ' | ' | ' | ' | ' | ' | 33,200,000 | ' | ' | ' | 60,100,000 | ' | ' | ' |
Number of purchase orders | ' | ' | ' | ' | ' | ' | 2 | ' | ' | ' | ' | ' | ' | ' |
Aggregate amount of payment received during period | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5,000,000 |
Revenue from automotive sales | $1,997,786,000 | $385,699,000 | $148,568,000 | $42,900,000 | $29,100,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Commitments_and_Contingencies_1
Commitments and Contingencies - Additional Information (Detail) (USD $) | 12 Months Ended | ||||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Oct. 31, 2010 | 31-May-10 | |
Loss Contingencies [Line Items] | ' | ' | ' | ' | ' |
Rent expense | $21,500,000 | $12,100,000 | $8,600,000 | ' | ' |
Estimated fair value of environmental liabilities | 5,500,000 | 5,300,000 | ' | 5,300,000 | 5,300,000 |
Environmental liabilities | 3,364,000 | 5,300,000 | ' | ' | ' |
NUMMI [Member] | ' | ' | ' | ' | ' |
Loss Contingencies [Line Items] | ' | ' | ' | ' | ' |
Agreement term for governmentally-required remediation activities for contamination, years | '10 years | ' | ' | ' | ' |
Environmental remediation costs expected to be paid | 15,000,000 | ' | ' | ' | ' |
Environmental remediation costs expected to be paid by a seller after the first amount is paid by Company | 15,000,000 | ' | ' | ' | ' |
Environmental remediation costs expected to be paid by a seller on behalf of the company | 15,000,000 | ' | ' | ' | ' |
Period in which remediation activity expenses will be paid by acquired entity if incurred | '4 years | ' | ' | ' | ' |
Remediation costs incurred | 2,100,000 | ' | ' | ' | ' |
Maximum amount that can be spent on remediation activities | 30,000,000 | ' | ' | ' | ' |
Environmental liabilities | $5,500,000 | $5,300,000 | ' | ' | ' |
Minimum [Member] | ' | ' | ' | ' | ' |
Loss Contingencies [Line Items] | ' | ' | ' | ' | ' |
Terms of agreements to lease equipment under capital leases in months | '36 months | ' | ' | ' | ' |
Maximum [Member] | ' | ' | ' | ' | ' |
Loss Contingencies [Line Items] | ' | ' | ' | ' | ' |
Terms of agreements to lease equipment under capital leases in months | '60 months | ' | ' | ' | ' |
California Lease Facility [Member] | ' | ' | ' | ' | ' |
Loss Contingencies [Line Items] | ' | ' | ' | ' | ' |
Leased facility square feet | 350,000 | ' | ' | ' | ' |
Lease expiration of facility | 1-Jan-20 | ' | ' | ' | ' |
Tilburg, Netherlands Lease Facility [Member] | ' | ' | ' | ' | ' |
Loss Contingencies [Line Items] | ' | ' | ' | ' | ' |
Leased facility square feet | 203,772 | ' | ' | ' | ' |
Lease expiration of facility | 30-Nov-23 | ' | ' | ' | ' |
Commitments_and_Contingencies_2
Commitments and Contingencies - Schedule of Future Minimum Commitments for Leases (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Commitments And Contingencies Disclosure [Abstract] | ' | ' |
Operating Leases, 2014 | $27,004 | ' |
Operating Leases, 2015 | 27,372 | ' |
Operating Leases, 2016 | 26,621 | ' |
Operating Leases, 2017 | 24,706 | ' |
Operating Leases, 2018 and thereafter | 55,785 | ' |
Operating Leases, Total minimum lease payments | 161,488 | ' |
Capital Leases, 2014 | 8,927 | ' |
Capital Leases, 2015 | 7,752 | ' |
Capital Leases, 2016 | 4,512 | ' |
Capital Leases, 2017 | 595 | ' |
Capital Leases, 2018 and thereafter | 4 | ' |
Total minimum lease payments, Capital Leases | 21,790 | ' |
Less: Amounts representing interest not yet incurred, Capital Leases | 1,205 | ' |
Present value of capital lease obligations | 20,585 | ' |
Less: Current portion, Capital Leases | 7,722 | 4,365 |
Long-term portion of capital lease obligations | $12,855 | $9,965 |
Subsequent_Events_Additional_I
Subsequent Events - Additional Information (Detail) | 12 Months Ended | 1 Months Ended | ||||
Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Jan. 31, 2014 | |
First Model X Production Vehicle [Member] | 12-month period [Member] | First Gen III Production Vehicle [Member] | Three Year Period [Member] | Subsequent Event [Member] | ||
Vehicle | Tranches | |||||
Subsequent Event [Line Items] | ' | ' | ' | ' | ' | ' |
Stock options granted to certain employees to purchase common stock | ' | ' | ' | ' | ' | 782,500 |
Number of vesting tranches | ' | ' | ' | ' | ' | 4 |
Portion of stock options scheduled to vest upon successful completion of performance objectives | ' | 0.25 | 0.25 | 0.25 | 0.25 | ' |
Number of vehicle production | ' | ' | 100,000 | ' | ' | ' |
Gross margin | 30.00% | ' | ' | ' | 30.00% | ' |
Quarterly_Results_of_Operation2
Quarterly Results of Operations - Schedule of Selected Quarterly Results of Operations (Detail) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Stockholders Equity Excluding Portion Attributable To Subsidiaries Noncontrolling Interest [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total revenues | $615,219 | $431,346 | $405,139 | $561,792 | $306,332 | $50,104 | $26,653 | $30,167 | $2,013,496 | $413,256 | $204,242 |
Gross profit (loss) | 156,590 | 102,868 | 100,483 | 96,320 | 23,857 | -8,761 | 4,762 | 10,210 | 456,262 | 30,067 | 61,595 |
Net income (loss) | ($16,264) | ($38,496) | ($30,502) | $11,248 | ($89,932) | ($110,804) | ($105,603) | ($89,873) | ($74,014) | ($396,213) | ($254,411) |
Net income (loss) per share, basic | ($0.13) | ($0.32) | ($0.26) | $0.10 | ' | ' | ' | ' | ' | ' | ' |
Net loss per share, basic and diluted | ' | ' | ' | ' | ($0.79) | ($1.05) | ($1) | ($0.86) | ($0.62) | ($3.69) | ($2.53) |
Net income (loss) per share, diluted | ($0.13) | ($0.32) | ($0.26) | $0 | ' | ' | ' | ' | ' | ' | ' |