Document_and_Entity_Informatio
Document and Entity Information | 3 Months Ended | |
Mar. 31, 2014 | Apr. 30, 2014 | |
Document And Entity Information [Abstract] | ' | ' |
Document Type | '10-Q | ' |
Amendment Flag | 'false | ' |
Document Period End Date | 31-Mar-14 | ' |
Document Fiscal Year Focus | '2014 | ' |
Document Fiscal Period Focus | 'Q1 | ' |
Trading Symbol | 'TSLA | ' |
Entity Registrant Name | 'TESLA MOTORS INC | ' |
Entity Central Index Key | '0001318605 | ' |
Current Fiscal Year End Date | '--12-31 | ' |
Entity Filer Category | 'Large Accelerated Filer | ' |
Entity Common Stock, Shares Outstanding | ' | 124,090,160 |
Condensed_Consolidated_Balance
Condensed Consolidated Balance Sheets (Unaudited) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Current assets | ' | ' |
Cash and cash equivalents | $2,393,908 | $845,889 |
Short-term marketable securities | 189,111 | ' |
Restricted cash | 1,049 | 3,012 |
Accounts receivable | 72,380 | 49,109 |
Inventory | 450,730 | 340,355 |
Prepaid expenses and other current assets | 48,869 | 27,574 |
Total current assets | 3,156,047 | 1,265,939 |
Operating lease vehicles, net | 451,729 | 382,425 |
Property, plant and equipment, net | 849,389 | 738,494 |
Restricted cash | 7,102 | 6,435 |
Other assets | 36,143 | 23,637 |
Total assets | 4,500,410 | 2,416,930 |
Current liabilities | ' | ' |
Accounts payable | 375,778 | 303,969 |
Accrued liabilities | 128,674 | 108,252 |
Deferred revenue | 112,740 | 91,882 |
Capital lease obligations, current portion | 8,397 | 7,722 |
Customer deposits | 198,006 | 163,153 |
Convertible debt | 589,875 | 182 |
Total current liabilities | 1,413,470 | 675,160 |
Capital lease obligations, less current portion | 12,572 | 12,855 |
Deferred revenue, less current portion | 210,817 | 181,180 |
Long-term debt, net, less current portion | 1,519,967 | 586,119 |
Resale value guarantee | 290,617 | 236,299 |
Other long-term liabilities | 70,969 | 58,197 |
Total liabilities | 3,518,412 | 1,749,810 |
Commitments and contingencies (Notes 6 and 10) | ' | ' |
1.50% convertible senior notes due 2018 (2018 Notes) | 69,942 | ' |
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 March 31, 2014 and December 31, 2013, respectively; 124,040,756 and 123,090,990 shares issued and outstanding as of March 31, 2014 and December 31, 2013, respectively | 124 | 123 |
Additional paid-in capital | 2,101,352 | 1,806,617 |
Accumulated deficit | -1,189,420 | -1,139,620 |
Total stockholders' equity | 912,056 | 667,120 |
Total liabilities and stockholders' equity | $4,500,410 | $2,416,930 |
Condensed_Consolidated_Balance1
Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 |
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 | 124,040,756 | 123,090,990 |
Common stock shares outstanding | 124,040,756 | 123,090,990 |
1.50% Convertible senior notes due 2018 [Member] | ' | ' |
Debt instrument interest rate | 1.50% | ' |
Condensed_Consolidated_Stateme
Condensed Consolidated Statements of Operations (Unaudited) (USD $) | 3 Months Ended | |
In Thousands, except Share data, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 |
Revenues | ' | ' |
Automotive sales | $618,811 | $555,203 |
Development services | 1,731 | 6,589 |
Total revenues | 620,542 | 561,792 |
Cost of revenues | ' | ' |
Automotive sales | 462,471 | 461,818 |
Development services | 2,943 | 3,654 |
Total cost of revenues | 465,414 | 465,472 |
Gross profit | 155,128 | 96,320 |
Operating expenses | ' | ' |
Research and development | 81,544 | 54,859 |
Selling, general and administrative | 117,551 | 47,045 |
Total operating expenses | 199,095 | 101,904 |
Loss from operations | -43,967 | -5,584 |
Interest income | 141 | 10 |
Interest expense | -11,883 | -118 |
Other income, net | 6,718 | 17,091 |
Income (loss) before income taxes | -48,991 | 11,399 |
Provision for income taxes | 809 | 151 |
Net income (loss) | ($49,800) | $11,248 |
Net income (loss) per share of common stock, basic | ($0.40) | $0.10 |
Weighted average shares used in computing net income (loss) per share of common stock, basic | 123,472,782 | 114,711,899 |
Net income (loss) per share of common stock, diluted | ($0.40) | $0 |
Weighted average shares used in computing net income (loss) per share of common stock, diluted | 123,472,782 | 124,265,292 |
Condensed_Consolidated_Stateme1
Condensed Consolidated Statements of Cash Flows (Unaudited) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 |
Cash Flows From Operating Activities | ' | ' |
Net income (loss) | ($49,800) | $11,248 |
Adjustments to reconcile net loss to net cash provided by operating activities: | ' | ' |
Depreciation and amortization | 44,268 | 17,850 |
Stock-based compensation | 37,038 | 14,868 |
Inventory write-downs | 1,578 | 1,532 |
Amortization of discount on convertible debt | 8,493 | ' |
Change in fair value of Department of Energy (DOE) warrant liability | ' | -10,692 |
Other non-cash operating activities | 2,562 | 390 |
Foreign currency transaction gain | -807 | ' |
Changes in operating assets and liabilities | ' | ' |
Accounts receivable | -23,800 | -19,297 |
Inventories and operating lease vehicles | -197,734 | 18,220 |
Prepaid expenses and other current assets | -11,427 | -2,575 |
Other assets | 149 | 158 |
Accounts payable | 78,533 | 25,661 |
Accrued liabilities | 19,224 | 926 |
Deferred revenue | 50,282 | 4,059 |
Customer deposits | 35,026 | -8,103 |
Resale value guarantee | 54,318 | ' |
Other long-term liabilities | 12,738 | 9,834 |
Net cash provided by operating activities | 60,640 | 64,079 |
Cash Flows From Investing Activities | ' | ' |
Purchase of marketable securities | -189,111 | ' |
Purchases of property and equipment, excluding capital leases | -141,364 | -57,727 |
Decrease in other restricted cash | 1,295 | 2,560 |
Withdrawals out of our dedicated DOE accounts, net | ' | -69 |
Net cash used in investing activities | -329,180 | -55,236 |
Cash Flows From Financing Activities | ' | ' |
Proceeds from issuance of convertible debt | 2,000,000 | ' |
Proceeds from issuance of warrants | 338,400 | ' |
Proceeds from exercise of stock options and other stock issuances | 35,726 | 17,903 |
Purchase of convertible note hedges | -524,720 | ' |
Convertible debt issuance costs | -30,302 | ' |
Principal payments on capital leases and other debt | -2,545 | -14,219 |
Net cash provided by financing activities | 1,816,559 | 3,684 |
Net increase in cash and cash equivalents | 1,548,019 | 12,527 |
Cash and cash equivalents at beginning of period | 845,889 | 201,890 |
Cash and cash equivalents at end of period | 2,393,908 | 214,417 |
Supplemental disclosure of noncash investing activities: | ' | ' |
Acquisition of property and equipment included in accounts payable and accrued liabilities | $36,835 | $30,105 |
Overview_of_the_Company
Overview of the Company | 3 Months Ended |
Mar. 31, 2014 | |
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. | |
Public Offerings | |
In March 2014, we issued $800.0 million principal amount of 0.25% convertible senior notes due March 2019 (2019 Notes) and $1.20 billion principal amount of 1.25% convertible senior notes due March 2021 (2021 Notes) in a public offering. In connection with the issuance of these 2019 Notes and 2021 Notes, we entered into convertible note hedge transactions for which we paid an aggregate $524.7 million. In addition, we sold warrants and received aggregate proceeds of approximately $338.4 million from the sale of the warrants. Taken together, we received total cash proceeds of approximately $1.78 billion, net of underwriting discounts and offering costs (see Note 6). | |
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 includes 487,857 shares or $45.0 million sold to Elon Musk, our Chief Executive Officer (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 due June 2018 (2018 Notes) in a public offering. In connection with the issuance of the 2018 Notes, we entered into convertible note hedge transactions and paid an aggregate $177.5 million. In addition, we sold warrants and received aggregate proceeds of approximately $120.3 million from the sale of the warrants. Taken together, we received total cash proceeds of approximately $590.8 million, net of underwriting discounts and offering costs. (see Note 6). |
Summary_of_Significant_Account
Summary of Significant Accounting Policies | 3 Months Ended | ||||||||
Mar. 31, 2014 | |||||||||
Accounting Policies [Abstract] | ' | ||||||||
Summary of Significant Accounting Policies | ' | ||||||||
2. Summary of Significant Accounting Policies | |||||||||
Basis of Consolidation | |||||||||
The condensed 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. | |||||||||
Unaudited Interim Financial Statements | |||||||||
The accompanying condensed consolidated balance sheet as of March 31, 2014, the condensed consolidated statements of operations for the three months ended March 31, 2014 and 2013 and the condensed consolidated statements of cash flows for the three months ended March 31, 2014 and 2013 and other information disclosed in the related notes are unaudited. The condensed consolidated balance sheet as of December 31, 2013 was derived from our audited consolidated financial statements at that date. The accompanying condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and related notes contained in our Form 10-K for the year ended December 31, 2013 filed with the Securities and Exchange Commission. | |||||||||
The accompanying interim condensed consolidated financial statements and related disclosures have been prepared on the same basis as the annual consolidated financial statements and, in the opinion of management, reflect all adjustments, which include only normal recurring adjustments, necessary for a fair statement of the results of operations for the periods presented. The condensed consolidated results of operations for any interim period are not necessarily indicative of the results to be expected for the full year or for any other future year or interim period. | |||||||||
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 and greenhouse gas emission credits, as well as sales of electric vehicle powertrain components and systems, such as battery packs and drive units. 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 Model S sales, 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, provided that such options do not limit the functionality of the vehicle. In such cases, we continue to defer the related revenue based on the undelivered items’ 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 defer the related revenue based on the undelivered items’ fair value and recognize the associated revenue over our expected performance period. As of March 31, 2014, we had deferred $30.2 million, $13.9 million and $3.9 million related to the purchase of vehicle maintenance and service plans, access to our Supercharger network and Model S connectivity, respectively. As of December 31, 2013, we had deferred $27.6 million, $10.3 million and $0.7 million related to these same performance obligations, respectively. | |||||||||
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): | |||||||||
Three months ended | |||||||||
March 31, 2014 | |||||||||
Operating lease vehicles under the resale value guarantee program—beginning of period | $ | 376,979 | |||||||
Increase in operating lease vehicles under the resale value guarantee program | 84,515 | ||||||||
Depreciation expense recorded in cost of automotive sales | (12,402 | ) | |||||||
Additional depreciation expense recorded in cost of automotive sales as a result of early cancellation of resale value guarantee | (2,060 | ) | |||||||
Operating lease vehicles under the resale value guarantee program—end of period | $ | 447,032 | |||||||
Deferred revenue—beginning of period | $ | 230,856 | |||||||
Increase in deferred revenue related to Model S deliveries with resale value guarantee | 63,070 | ||||||||
Amortization of deferred revenue recorded in automotive sales | (21,779 | ) | |||||||
Additional revenue recorded in automotive sales as a result of early cancellation of resale value guarantee | (1,441 | ) | |||||||
Deferred revenue—end of period | $ | 270,706 | |||||||
Resale value guarantee liability—beginning of period | $ | 236,298 | |||||||
Increase in resale value guarantee | 55,602 | ||||||||
Additional revenue recorded in automotive sales as a result of early cancellation of resale value guarantee | (1,283 | ) | |||||||
Resale value guarantee liability—end of period | $ | 290,617 | |||||||
Marketable Securities | |||||||||
Marketable securities are comprised of commercial paper and are designated as available-for-sale and reported at estimated fair value, with unrealized gains and losses recorded in accumulated other comprehensive income (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, 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, 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. | |||||||||
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. | |||||||||
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 three months ended March 31, 2014, warranty costs incurred for our resale value guarantee vehicles was $1.2 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 condensed 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 were 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): | |||||||||
Three Months Ended | |||||||||
March 31, | |||||||||
2014 | 2013 | ||||||||
Accrued warranty—beginning of period | $ | 53,182 | $ | 13,013 | |||||
Warranty costs incurred | (9,300 | ) | (3,107 | ) | |||||
Changes in liability for pre-existing warranties, including expirations | 8,120 | — | |||||||
Provision for warranty | 19,930 | 14,156 | |||||||
Accrued warranty—end of period | $ | 71,932 | $ | 24,062 | |||||
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. Our investments are currently of a short-term nature and include commercial paper and U.S. treasury bills. | |||||||||
As of March 31, 2014 and December 31, 2013, our accounts receivable were derived primarily from amounts to be received from commercial financial institutions for approved financing arrangements between our customers and the financial institutions, sales of regulatory credits, as well as the development and sales of powertrain components and systems to automotive original equipment manufacturers (OEMs). | |||||||||
The following summarizes the accounts receivable from our OEM customers in excess of 10% of our total accounts receivable: | |||||||||
March 31, | December 31, | ||||||||
2014 | 2013 | ||||||||
Customer A | 14 | % | 30 | % | |||||
Customer B | 10 | % | 9 | % | |||||
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. | |||||||||
Net Income (Loss) per Share of Common Stock | |||||||||
Basic net income (loss) per common share is calculated based on the weighted-average number of shares of our common stock outstanding during the period. Diluted net income (loss) per common share is calculated based on the weighted-average number of shares of our common stock outstanding and other dilutive securities outstanding during the period. The potential dilutive shares of our common stock resulting from the assumed exercise of outstanding stock options and equivalents are determined under the treasury stock method. The following table reconciles the numerator and denominator used in the calculation of basic and diluted net income (loss) per share (in thousands, except share data); | |||||||||
Three Months Ended | |||||||||
March 31, | |||||||||
2014 | 2013 | ||||||||
Numerator | |||||||||
Net income (loss) used to calculate net income (loss) per share: | |||||||||
Basic | $ | (49,800 | ) | $ | 11,248 | ||||
Adjustment for change in fair value of warrant liability | — | (10,692 | ) | ||||||
Diluted | $ | (49,800 | ) | $ | 556 | ||||
Denominator | |||||||||
Weighted-average shares, basic | 123,472,782 | 114,711,899 | |||||||
Effect of dilutive securities: | |||||||||
Stock options | — | 7,057,956 | |||||||
DOE warrant | — | 2,451,718 | |||||||
Employee stock purchase plan | — | 43,719 | |||||||
Weighted-average shares, diluted | 123,472,782 | 124,265,292 | |||||||
The following table presents the potential weighted common shares outstanding that were excluded from the computation of basic and diluted net income (loss) per share of common stock for the periods, related to the following securities: | |||||||||
Three Months Ended | |||||||||
March 31, | |||||||||
2014 | 2013 | ||||||||
Stock options | 14,066,074 | 14,861,523 | |||||||
Convertible senior notes | 2,015,267 | — | |||||||
Warrant issued in May 2013 | 433,479 | — | |||||||
Restricted stock units | 221,168 | — | |||||||
Employee stock purchase plan | 947 | ||||||||
DOE warrant | — | 597,766 | |||||||
Since we expect to settle the principal amount of our outstanding convertible senior notes 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, $359.87 and $359.87 per share for the 2018 Notes, 2019 Notes and 2021 Notes, respectively. | |||||||||
Uncertain Tax Positions | |||||||||
As of March 31, 2014 and December 31, 2013, the aggregate balances of our gross unrecognized tax benefits were $17.4 million and $13.4 million, respectively, of which $15.7 million and $11.8 million, respectively, would not affect our effective tax rate as the tax benefits would increase a deferred tax asset which is currently offset with a full valuation allowance. |
Balance_Sheet_Components
Balance Sheet Components | 3 Months Ended | ||||||||
Mar. 31, 2014 | |||||||||
Organization Consolidation And Presentation Of Financial Statements [Abstract] | ' | ||||||||
Balance Sheet Components | ' | ||||||||
3. Balance Sheet Components | |||||||||
Inventory | |||||||||
As of March 31, 2014 and December 31, 2013, our inventory consisted of the following (in thousands): | |||||||||
March 31, | December 31, | ||||||||
2014 | 2013 | ||||||||
Raw materials | $ | 197,779 | $ | 184,665 | |||||
Work in process | 64,431 | 42,500 | |||||||
Finished goods | 132,234 | 69,324 | |||||||
Service parts | 56,286 | 43,866 | |||||||
Total | $ | 450,730 | $ | 340,355 | |||||
Property, Plant and Equipment | |||||||||
As of March 31, 2014 and December 31, 2013, our property, plant and equipment, net, consisted of the following (in thousands): | |||||||||
March 31, | December 31, | ||||||||
2014 | 2013 | ||||||||
Machinery, equipment and office furniture | $ | 380,597 | $ | 322,394 | |||||
Tooling | 239,557 | 230,385 | |||||||
Leasehold improvements | 117,521 | 94,763 | |||||||
Building and building improvements | 75,314 | 67,707 | |||||||
Land | 45,020 | 45,020 | |||||||
Computer equipment and software | 50,211 | 42,073 | |||||||
Construction in progress | 110,504 | 76,294 | |||||||
1,018,724 | 878,636 | ||||||||
Less: Accumulated depreciation and amortization | (169,335 | ) | (140,142 | ) | |||||
Total | $ | 849,389 | $ | 738,494 | |||||
Construction in progress is comprised primarily of assets related to the manufacturing of our Model X and 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 three months ended March 31, 2014 and 2013, we capitalized $1.2 million and $1.5 million of interest expense, respectively. | |||||||||
Depreciation and amortization expense during the three months ended March 31, 2014 and 2013 were $28.9 million and $17.4 million, respectively. Total property and equipment assets under capital lease as of March 31, 2014 and December 31, 2013 were $26.0 million and $23.3 million, respectively. Accumulated depreciation related to assets under capital lease as of these dates were $6.7 million and $5.0 million, respectively. | |||||||||
Other Assets | |||||||||
As of March 31, 2014 and December 31, 2013, our other assets consisted of the following (in thousands): | |||||||||
March 31, | December 31, | ||||||||
2014 | 2013 | ||||||||
Debt issuance costs, net | $ | 19,585 | $ | 7,315 | |||||
Emission permits | 13,662 | 13,930 | |||||||
Other | 2,896 | 2,392 | |||||||
Total | $ | 36,143 | $ | 23,637 | |||||
Emission permits are related to the operation of our Tesla Factory; therefore, we amortize the emission permits over the same useful life as that of the Tesla Factory. Debt issuance costs, net as of March 31, 2014, include costs associated with our 2019 Notes and 2021 Notes issued in March 2014 (see Note 6). | |||||||||
Accrued Liabilities | |||||||||
As of March 31, 2014 and December 31, 2013, our accrued liabilities consisted of the following (in thousands): | |||||||||
2014 | 2013 | ||||||||
Payroll and related costs | $ | 35,495 | $ | 26,535 | |||||
Taxes payable | 27,984 | 38,067 | |||||||
Accrued purchases | 27,826 | 19,023 | |||||||
Accrued warranty, current portion | 27,721 | 19,917 | |||||||
Accrued interest | 4,393 | 741 | |||||||
Environmental liabilities, current portion | 2,289 | 2,132 | |||||||
Other | 2,966 | 1,837 | |||||||
Total | $ | 128,674 | $ | 108,252 | |||||
Other Long-Term Liabilities | |||||||||
As of March 31, 2014 and December 31, 2013, our other long-term liabilities consisted of the following (in thousands): | |||||||||
March 31, | December 31, | ||||||||
2014 | 2013 | ||||||||
Accrued warranty, less current portion | 44,211 | 33,265 | |||||||
Deferred rent liability | 11,239 | 9,886 | |||||||
Deferred tax liabilities | 5,231 | 5,233 | |||||||
Environmental liabilities, less current portion | 3,207 | 3,364 | |||||||
Asset retirement obligations | 2,710 | 2,115 | |||||||
Other | 4,371 | 4,334 | |||||||
Total | $ | 70,969 | $ | 58,197 | |||||
We established asset retirement obligations pursuant to lease agreements under which we are required to restore the properties to their original condition. The obligations are recorded at the inception of the lease based on estimates of the actions to be taken and related costs. Adjustments are made when necessary to reflect actual results. |
Fair_Value_of_Financial_Instru
Fair Value of Financial Instruments | 3 Months Ended | ||||||||||||||||||||||||||||||||
Mar. 31, 2014 | |||||||||||||||||||||||||||||||||
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 were measured at fair value on a recurring basis consisted of our common stock warrant liability, which expired in May 2013. | |||||||||||||||||||||||||||||||||
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 short-term marketable securities are classified within Level II of the fair value hierarchy. | |||||||||||||||||||||||||||||||||
As of March 31, 2014 and December 31, 2013, the fair value hierarchy for our financial assets that are carried at fair value was as follows (in thousands): | |||||||||||||||||||||||||||||||||
March 31, 2014 | December 31, 2013 | ||||||||||||||||||||||||||||||||
Fair | Level I | Level II | Level III | Fair | Level I | Level II | Level III | ||||||||||||||||||||||||||
Value | Value | ||||||||||||||||||||||||||||||||
Money market funds | $ | 1,831,259 | $ | 1,831,259 | $ | — | $ | — | $ | 460,313 | $ | 460,313 | $ | — | $ | — | |||||||||||||||||
Commercial paper | 178,000 | — | 178,000 | — | — | — | — | — | |||||||||||||||||||||||||
U.S. treasury bills | 11,111 | — | 11,111 | — | — | — | — | — | |||||||||||||||||||||||||
Total | $ | 2,020,370 | $ | 1,831,259 | $ | 189,111 | $ | — | $ | 460,313 | $ | 460,313 | $ | — | $ | — | |||||||||||||||||
Our available-for-sale marketable securities classified by security type as of March 31, 2014 consisted of the following (in thousands): | |||||||||||||||||||||||||||||||||
March 31, 2014 | |||||||||||||||||||||||||||||||||
Amortized | Gross | Gross | Fair Value | ||||||||||||||||||||||||||||||
Cost | Unrealized | Unrealized | |||||||||||||||||||||||||||||||
Gains | Losses | ||||||||||||||||||||||||||||||||
Commercial paper | $ | 178,000 | $ | — | $ | — | $ | 178,000 | |||||||||||||||||||||||||
U.S. treasury bills | 11,111 | — | — | 11,111 | |||||||||||||||||||||||||||||
Total | $ | 189,111 | $ | — | $ | — | $ | 189,111 | |||||||||||||||||||||||||
The changes in the fair value of our common stock warrant liability (see Note 6) were as follows (in thousands): | |||||||||||||||||||||||||||||||||
Three Months Ended | |||||||||||||||||||||||||||||||||
March 31, 2013 | |||||||||||||||||||||||||||||||||
Fair value, beginning of period | $ | 10,692 | |||||||||||||||||||||||||||||||
Change in fair value | (10,692 | ) | |||||||||||||||||||||||||||||||
Fair value, end of period | $ | — | |||||||||||||||||||||||||||||||
The estimated fair value of our 2018 Notes based on a market approach was approximately $1.19 billion (par value $659.8 million) as of March 31, 2014 and $914.9 million (par value of $660.0 million) as of December 31, 2013, respectively, and represent a Level II valuation. The estimated fair value of our 2019 Notes and 2021 Notes based on a market approach was approximately $739.0 million (par value $800.0 million) and $1.09 billion (par value of $1.20 billion) as of March 31, 2014, respectively, and represents a Level II valuation. 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 | 3 Months Ended |
Mar. 31, 2014 | |
Text Block [Abstract] | ' |
Customer Deposits | ' |
5. Customer Deposits | |
Customer deposits consist of payments that allow potential customers to make an advance payment 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. | |
As of March 31, 2014 and December 31, 2013, we held customer deposits of $198.0 million and $163.2 million, respectively. |
Convertible_and_Longterm_Debt_
Convertible and Long-term Debt Obligations | 3 Months Ended |
Mar. 31, 2014 | |
Debt Disclosure [Abstract] | ' |
Convertible and Long-term Debt Obligations | ' |
6. Convertible and Long-term Debt Obligations | |
0.25% and 1.25% Convertible Senior Notes and Bond Hedge and Warrant Transactions | |
In March 2014, we issued $800.0 million principal amount of 0.25% convertible senior notes due 2019 (2019 Notes) and $1.20 billion principal amount of 1.25% convertible senior notes due 2021 (2021 Notes) in a public offering. The net proceeds from the offering, after deducting transaction costs, were approximately $787.6 million from the 2019 Notes and $1.18 billion from the 2021 Notes, respectively. We incurred $12.4 million and $18.7 million, respectively, of debt issuance costs in connection with the 2019 Notes and the 2021 Notes, which we initially recorded in other assets and are amortizing to interest expense using the effective interest method over the contractual terms of these notes. The interest rates are fixed at 0.25% and 1.25% per annum and are payable semi-annually in arrears on March 1 and September 1 of each year, commencing on September 1, 2014. During the three months ended March 31, 2014, we recognized $0.2 million of interest expense related to the amortization of debt issuance costs and $1.2 million of accrued coupon interest expense. | |
Each $1,000 of principal of these notes will initially be convertible into 2.7788 shares of our common stock, which is equivalent to an initial conversion price of approximately $359.87 per share, subject to adjustment upon the occurrence of specified events. Holders of these notes may convert their Notes at their option on or after December 1, 2018 for the 2019 Notes and on or after December 1, 2020 for the 2021 Notes. Further, holders of these notes may convert their notes at their option prior to the respective dates above, only under the following circumstances: (1) during any fiscal quarter beginning after the fiscal quarter ending June 30, 2014, 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 of the applicable notes 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 applicable 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 of the 2019 Notes, we would pay or deliver as applicable, cash, shares of our common stock or a combination of cash and shares of our common stock, at our election. Upon conversion of the 2021 Notes, we would pay the holders in cash for the principal amount 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 daily conversion value. If a fundamental change occurs prior to the maturity date, holders of these 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 applicable maturity date, we will increase the conversion rate for a holder who elects to convert their notes in connection with such a corporate event in certain circumstances. | |
In accordance with accounting guidance on embedded conversion features, we valued and bifurcated the conversion option associated with the Notes from the respective host debt instrument and initially recorded the conversion option of $163.6 million for the 2019 Notes and $321.2 million for the 2021 Notes in stockholders’ equity. The resulting debt discounts on the 2019 Notes and 2021 Notes are being amortized to interest expense at an effective interest rate of 4.89% and 5.96%, respectively, over the contractual terms of the Notes. During the three months ended March 31, 2014, we recognized $4.7 million of interest expense related to the amortization of the debt discount. As of March 31, 2014, the net carrying value of the 2019 Notes and the 2021 Notes was $638.5 million and $881.5 million, respectively. | |
In connection with the offering of these notes, we entered into convertible note hedge transactions whereby we have the option to purchase (subject to adjustment for certain specified events) a total of approximately 5.6 million shares of our common stock at a price of approximately $359.87 per share. The total cost of the convertible note hedge transactions was $524.7 million. In addition, we sold warrants whereby the holders of the warrants have the option to purchase (subject to adjustment for certain specified events) a total of approximately 2.2 million shares of our common stock at a price of $512.66 for the 2019 Notes and a total of approximately 3.3 million shares of our common stock at a price of $560.64 per share for the 2021 Notes. We received $338.4 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 these notes and to effectively increase the overall conversion price from $359.87 to $512.66 per share in the case of warrants relating to the 2019 Notes and from $359.87 to $560.64 in the case of warrants relating to the 2021 Notes. 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 condensed consolidated balance sheet as of March 31, 2014. | |
1.50% Convertible Senior Notes and Bond Hedge and Warrant Transactions | |
In May 2013, we issued $660.0 million aggregate principal amount of convertible senior notes due 2018 (2018 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 2018 Notes which we initially recorded in other assets and are amortizing to interest expense using the effective interest method over the contractual term of the 2018 Notes. The interest under the 2018 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 three months ended March 31, 2014, we recognized $0.5 million of interest expense related to the amortization of debt issuance costs and $2.4 million of accrued coupon interest expense. | |
Each $1,000 of principal of the 2018 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 2018 Notes may convert their notes at their option on or after March 1, 2018. Further, holders of the 2018 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 2018 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 2018 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 daily conversion value. If a fundamental change occurs prior to the maturity date, holders of the 2018 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 their notes in connection with such a corporate event in certain circumstances. | |
In accordance with accounting guidance on embedded conversion features, we valued and bifurcated the conversion option associated with the 2018 Notes from the host debt instrument and initially recorded the conversion option of $82.8 million in stockholders’ equity. The resulting debt discount on the 2018 Notes is being amortized to interest expense at an effective interest rate of 4.29% over the contractual term of the notes. During the three months ended March 31, 2014, we recognized $3.8 million of interest expense related to the amortization of the debt discount. As of March 31, 2014, the net carrying value of the 2018 Notes was $589.9 million. | |
In connection with the offering of the 2018 Notes, we entered into convertible note hedge transactions whereby we have the option to purchase (subject to adjustment for certain specified events) a total of approximately 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 (subject to adjustment for certain specified events) a total of 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 2018 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 condensed consolidated balance sheet. | |
During the first quarter of 2014, the closing price of our common stock exceeded 130% of the applicable conversion price of our 2018 Notes on at least 20 of the last 30 consecutive trading days of the quarter; therefore, holders of the 2018 Notes may convert their notes during the second quarter of 2014. As such, we reclassified the $589.9 million carrying value of our 2018 Notes to current liabilities and reclassified $69.9 million, representing the difference between the aggregate principal of our 2018 Notes of $659.8 million and the carrying value of the 2018 Notes, from additional paid-in capital to mezzanine equity on our condensed consolidated balance sheet as of March 31, 2014. Similarly, debt issuance costs previously recorded in other assets were reclassified to other current assets as of March 31, 2014. Should the closing price conditions be met in the second quarter of 2014 or a future quarter, the 2018 Notes will be convertible at their holders’ option during the immediately following quarters. | |
Full Repayment of DOE Loan Facility and Expiration of DOE Warrant | |
On January 20, 2010, we entered into a loan facility with the Federal Financing Bank (FFB), and the Department of Energy (DOE), pursuant to the Advanced Technology Vehicles Manufacturing Incentive Program. We refer to the loan facility with the DOE as the DOE Loan Facility. Under the DOE Loan Facility, the FFB had 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. | |
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. | |
In March 2013, we entered into an amendment with the DOE under which we agreed to repay all outstanding principal and interest payments under the DOE Loan Facility by December 15, 2017 prior to the warrant vesting start date of December 15, 2018; therefore, the DOE warrant was no longer expected to vest and its fair value was reduced to zero as of March 31, 2013. During the three months ended March 31, 2013, we recognized other income for the reduction of the fair value of the DOE warrant in the amount of $10.7 million. | |
In May 2013, in connection with the closing of our offerings of common stock and 2018 Notes, we paid $451.8 million to settle all outstanding loan amounts of $441.0 million under the DOE Loan Facility, 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 previously held in a dedicated debt service account was released by the DOE. |
Equity_Incentive_Plans
Equity Incentive Plans | 3 Months Ended | ||||||||
Mar. 31, 2014 | |||||||||
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | ' | ||||||||
Equity Incentive Plans | ' | ||||||||
7. Equity Incentive Plans | |||||||||
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. | ||||||||
As of March 31, 2014, the following performance milestone was considered probable of achievement. | |||||||||
• | Completion of the first Model X Production Vehicle. | ||||||||
For the three months ended March 31, 2014, we recorded stock-based compensation expense of $2.9 million related to this grant. | |||||||||
2012 CEO Grant | |||||||||
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 ten vesting tranches requires a combination of one of the ten pre-determined performance milestones 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. | |||||||||
As of March 31, 2014, the market conditions for four vesting tranches were achieved and the following four 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; and | ||||||||
• | Successful completion of the Gen III Engineering Prototype (Alpha). | ||||||||
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 March 31, 2014. However, as the above four performance milestones were considered probable of achievement, we recorded stock-based compensation expense of $10.0 million for the three months ended March 31, 2014. We recorded no stock-based compensation expense for the three months ended March 31, 2013 as none of the performance milestones were considered probable of achievement. | |||||||||
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 our stock-based compensation expense by line item in the condensed consolidated statements of operations (in thousands): | |||||||||
Three Months Ended | |||||||||
March 31, | |||||||||
2014 | 2013 | ||||||||
Cost of sales | $ | 3,106 | $ | 1,536 | |||||
Research and development | 13,545 | 7,644 | |||||||
Selling, general and administrative | 20,387 | 5,688 | |||||||
Total | $ | 37,038 | $ | 14,868 | |||||
Information_about_Geographic_A
Information about Geographic Areas | 3 Months Ended | ||||||||
Mar. 31, 2014 | |||||||||
Segment Reporting [Abstract] | ' | ||||||||
Information about Geographic Areas | ' | ||||||||
8. Information about Geographic Areas | |||||||||
We have determined that we operate in one reporting 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 | |||||||||
Three Months Ended | |||||||||
March 31, | |||||||||
2014 | 2013 | ||||||||
North America | $ | 288,379 | $ | 552,496 | |||||
Europe | 332,108 | 8,851 | |||||||
Asia | 55 | 445 | |||||||
Total | $ | 620,542 | $ | 561,792 | |||||
During the three months ended March 31, 2014 and 2013, we recognized revenues of $272.3 million and $534.5 million in the United States, respectively. During the three months ended March 31, 2014, we recognized revenues of $211.4 million in Norway. | |||||||||
Long-lived Assets | |||||||||
March 31, | December 31, | ||||||||
2014 | 2013 | ||||||||
United States | $ | 1,264,317 | $ | 1,091,487 | |||||
International | 36,801 | 29,432 | |||||||
Total | $ | 1,301,118 | $ | 1,120,919 | |||||
Strategic_Partnerships
Strategic Partnerships | 3 Months Ended |
Mar. 31, 2014 | |
Contractors [Abstract] | ' |
Strategic Partnerships | ' |
9. Strategic Partnerships | |
Daimler Mercedes-Benz B-Class 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. During the fourth quarter of 2012, we entered into a development agreement to assist Daimler with the development of a full electric powertrain for a Daimler Mercedes-Benz B-Class EV vehicle. Pursuant to the development agreement, Daimler will 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 three months ended March 31, 2014, we delivered prototype samples and recognized $1.7 million in development services revenue. During the three months ended March 31, 2013, we completed a milestone, delivered prototype samples and recognized $6.5 million in development services revenue related to the Mercedes-Benz B-Class EV program. | |
Toyota RAV4 Program | |
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 for integration into the electric vehicle version of the Toyota RAV4. Additionally, we provide Toyota with certain services related to the supply of the electric powertrain system. During the three months ended March 31, 2014 and 2013, we recognized revenue of $15.1 million and $14.4 million in automotive sales revenue, respectively. Our production activities under this program are expected to end in 2014. |
Commitments_and_Contingencies
Commitments and Contingencies | 3 Months Ended |
Mar. 31, 2014 | |
Commitments And Contingencies Disclosure [Abstract] | ' |
Commitments and Contingencies | ' |
10. Commitments and Contingencies | |
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 March 31 2014, remediation costs of $2.3 million had been incurred by NUMMI. | |
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 March 31, 2014 and December 31, 2013, we accrued a total of $5.5 million and $5.5 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. | |
Other Commitments and Contingencies | |
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 current complaint, which makes claims against Tesla and its CEO, Elon Musk, seeks damages, and attorney's fees on the basis of allegations that, among other things, Tesla and Mr. Musk made false and/or misleading representations and omissions, including with respect to the safety of Model S. This case is brought on behalf of a putative class consisting of certain persons who purchased Tesla’s securities between August 19, 2013 and November 17, 2013. We believe this lawsuit is without merit and intend to defend against it vigorously. As we are currently unable to predict the outcome of this lawsuit, it is not possible for us to determine whether there is a reasonable possibility that a loss has been incurred nor can we estimate the range of any potential loss. |
Subsequent_Event
Subsequent Event | 3 Months Ended |
Mar. 31, 2014 | |
Subsequent Events [Abstract] | ' |
Subsequent Event | ' |
11. Subsequent Event | |
In April 2014, we issued in a public offering, an additional $120.0 million aggregate principal amount of the 2019 Notes and $180.0 million aggregate principal amount of the 2021 Notes, pursuant to the exercise in full of the overallotment options of the underwriters of our March 2014 public offering. In connection with the issuance of these additional notes, we entered into convertible note hedge transactions and paid an aggregate $78.7 million. In addition, we sold warrants to purchase (subject to adjustment for certain specified events) a total of approximately 0.3 million shares of our common stock at a strike price of $512.66 per share for the warrants relating to the 2019 Notes, and a total of approximately 0.5 million shares of our common stock at a strike price of $560.64 per share for the warrants relating to the 2021 Notes. We received aggregate proceeds of approximately $50.8 million from the sale of the warrants. |
Summary_of_Significant_Account1
Summary of Significant Accounting Policies (Policies) | 3 Months Ended | ||||||||
Mar. 31, 2014 | |||||||||
Accounting Policies [Abstract] | ' | ||||||||
Basis of Consolidation | ' | ||||||||
Basis of Consolidation | |||||||||
The condensed 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. | |||||||||
Unaudited Interim Financial Statements | ' | ||||||||
Unaudited Interim Financial Statements | |||||||||
The accompanying condensed consolidated balance sheet as of March 31, 2014, the condensed consolidated statements of operations for the three months ended March 31, 2014 and 2013 and the condensed consolidated statements of cash flows for the three months ended March 31, 2014 and 2013 and other information disclosed in the related notes are unaudited. The condensed consolidated balance sheet as of December 31, 2013 was derived from our audited consolidated financial statements at that date. The accompanying condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and related notes contained in our Form 10-K for the year ended December 31, 2013 filed with the Securities and Exchange Commission. | |||||||||
The accompanying interim condensed consolidated financial statements and related disclosures have been prepared on the same basis as the annual consolidated financial statements and, in the opinion of management, reflect all adjustments, which include only normal recurring adjustments, necessary for a fair statement of the results of operations for the periods presented. The condensed consolidated results of operations for any interim period are not necessarily indicative of the results to be expected for the full year or for any other future year or interim period. | |||||||||
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 and greenhouse gas emission credits, as well as sales of electric vehicle powertrain components and systems, such as battery packs and drive units. 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 Model S sales, 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, provided that such options do not limit the functionality of the vehicle. In such cases, we continue to defer the related revenue based on the undelivered items’ 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 defer the related revenue based on the undelivered items’ fair value and recognize the associated revenue over our expected performance period. As of March 31, 2014, we had deferred $30.2 million, $13.9 million and $3.9 million related to the purchase of vehicle maintenance and service plans, access to our Supercharger network and Model S connectivity, respectively. As of December 31, 2013, we had deferred $27.6 million, $10.3 million and $0.7 million related to these same performance obligations, respectively. | |||||||||
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): | |||||||||
Three months ended | |||||||||
March 31, 2014 | |||||||||
Operating lease vehicles under the resale value guarantee program—beginning of period | $ | 376,979 | |||||||
Increase in operating lease vehicles under the resale value guarantee program | 84,515 | ||||||||
Depreciation expense recorded in cost of automotive sales | (12,402 | ) | |||||||
Additional depreciation expense recorded in cost of automotive sales as a result of early cancellation of resale value guarantee | (2,060 | ) | |||||||
Operating lease vehicles under the resale value guarantee program—end of period | $ | 447,032 | |||||||
Deferred revenue—beginning of period | $ | 230,856 | |||||||
Increase in deferred revenue related to Model S deliveries with resale value guarantee | 63,070 | ||||||||
Amortization of deferred revenue recorded in automotive sales | (21,779 | ) | |||||||
Additional revenue recorded in automotive sales as a result of early cancellation of resale value guarantee | (1,441 | ) | |||||||
Deferred revenue—end of period | $ | 270,706 | |||||||
Resale value guarantee liability—beginning of period | $ | 236,298 | |||||||
Increase in resale value guarantee | 55,602 | ||||||||
Additional revenue recorded in automotive sales as a result of early cancellation of resale value guarantee | (1,283 | ) | |||||||
Resale value guarantee liability—end of period | $ | 290,617 | |||||||
Marketable Securities | ' | ||||||||
Marketable Securities | |||||||||
Marketable securities are comprised of commercial paper and are designated as available-for-sale and reported at estimated fair value, with unrealized gains and losses recorded in accumulated other comprehensive income (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, 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, 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. | |||||||||
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. | |||||||||
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 three months ended March 31, 2014, warranty costs incurred for our resale value guarantee vehicles was $1.2 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 condensed 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 were 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): | |||||||||
Three Months Ended | |||||||||
March 31, | |||||||||
2014 | 2013 | ||||||||
Accrued warranty—beginning of period | $ | 53,182 | $ | 13,013 | |||||
Warranty costs incurred | (9,300 | ) | (3,107 | ) | |||||
Changes in liability for pre-existing warranties, including expirations | 8,120 | — | |||||||
Provision for warranty | 19,930 | 14,156 | |||||||
Accrued warranty—end of period | $ | 71,932 | $ | 24,062 | |||||
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. Our investments are currently of a short-term nature and include commercial paper and U.S. treasury bills. | |||||||||
As of March 31, 2014 and December 31, 2013, our accounts receivable were derived primarily from amounts to be received from commercial financial institutions for approved financing arrangements between our customers and the financial institutions, sales of regulatory credits, as well as the development and sales of powertrain components and systems to automotive original equipment manufacturers (OEMs). | |||||||||
The following summarizes the accounts receivable from our OEM customers in excess of 10% of our total accounts receivable: | |||||||||
March 31, | December 31, | ||||||||
2014 | 2013 | ||||||||
Customer A | 14 | % | 30 | % | |||||
Customer B | 10 | % | 9 | % | |||||
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. | |||||||||
Net Income (Loss) per Share of Common Stock | ' | ||||||||
Net Income (Loss) per Share of Common Stock | |||||||||
Basic net income (loss) per common share is calculated based on the weighted-average number of shares of our common stock outstanding during the period. Diluted net income (loss) per common share is calculated based on the weighted-average number of shares of our common stock outstanding and other dilutive securities outstanding during the period. The potential dilutive shares of our common stock resulting from the assumed exercise of outstanding stock options and equivalents are determined under the treasury stock method. The following table reconciles the numerator and denominator used in the calculation of basic and diluted net income (loss) per share (in thousands, except share data); | |||||||||
Three Months Ended | |||||||||
March 31, | |||||||||
2014 | 2013 | ||||||||
Numerator | |||||||||
Net income (loss) used to calculate net income (loss) per share: | |||||||||
Basic | $ | (49,800 | ) | $ | 11,248 | ||||
Adjustment for change in fair value of warrant liability | — | (10,692 | ) | ||||||
Diluted | $ | (49,800 | ) | $ | 556 | ||||
Denominator | |||||||||
Weighted-average shares, basic | 123,472,782 | 114,711,899 | |||||||
Effect of dilutive securities: | |||||||||
Stock options | — | 7,057,956 | |||||||
DOE warrant | — | 2,451,718 | |||||||
Employee stock purchase plan | — | 43,719 | |||||||
Weighted-average shares, diluted | 123,472,782 | 124,265,292 | |||||||
The following table presents the potential weighted common shares outstanding that were excluded from the computation of basic and diluted net income (loss) per share of common stock for the periods, related to the following securities: | |||||||||
Three Months Ended | |||||||||
March 31, | |||||||||
2014 | 2013 | ||||||||
Stock options | 14,066,074 | 14,861,523 | |||||||
Convertible senior notes | 2,015,267 | — | |||||||
Warrant issued in May 2013 | 433,479 | — | |||||||
Restricted stock units | 221,168 | — | |||||||
Employee stock purchase plan | 947 | ||||||||
DOE warrant | — | 597,766 | |||||||
Since we expect to settle the principal amount of our outstanding convertible senior notes 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, $359.87 and $359.87 per share for the 2018 Notes, 2019 Notes and 2021 Notes, respectively. | |||||||||
Uncertain Tax Positions | ' | ||||||||
Uncertain Tax Positions | |||||||||
As of March 31, 2014 and December 31, 2013, the aggregate balances of our gross unrecognized tax benefits were $17.4 million and $13.4 million, respectively, of which $15.7 million and $11.8 million, respectively, would not affect our effective tax rate as the tax benefits would increase a deferred tax asset which is currently offset with a full valuation allowance. |
Summary_of_Significant_Account2
Summary of Significant Accounting Policies (Tables) | 3 Months Ended | ||||||||
Mar. 31, 2014 | |||||||||
Accounting Policies [Abstract] | ' | ||||||||
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): | |||||||||
Three months ended | |||||||||
March 31, 2014 | |||||||||
Operating lease vehicles under the resale value guarantee program—beginning of period | $ | 376,979 | |||||||
Increase in operating lease vehicles under the resale value guarantee program | 84,515 | ||||||||
Depreciation expense recorded in cost of automotive sales | (12,402 | ) | |||||||
Additional depreciation expense recorded in cost of automotive sales as a result of early cancellation of resale value guarantee | (2,060 | ) | |||||||
Operating lease vehicles under the resale value guarantee program—end of period | $ | 447,032 | |||||||
Deferred revenue—beginning of period | $ | 230,856 | |||||||
Increase in deferred revenue related to Model S deliveries with resale value guarantee | 63,070 | ||||||||
Amortization of deferred revenue recorded in automotive sales | (21,779 | ) | |||||||
Additional revenue recorded in automotive sales as a result of early cancellation of resale value guarantee | (1,441 | ) | |||||||
Deferred revenue—end of period | $ | 270,706 | |||||||
Resale value guarantee liability—beginning of period | $ | 236,298 | |||||||
Increase in resale value guarantee | 55,602 | ||||||||
Additional revenue recorded in automotive sales as a result of early cancellation of resale value guarantee | (1,283 | ) | |||||||
Resale value guarantee liability—end of period | $ | 290,617 | |||||||
Schedule of Accrued Warranty Activity | ' | ||||||||
Accrued warranty activity consisted of the following for the periods presented (in thousands): | |||||||||
Three Months Ended | |||||||||
March 31, | |||||||||
2014 | 2013 | ||||||||
Accrued warranty—beginning of period | $ | 53,182 | $ | 13,013 | |||||
Warranty costs incurred | (9,300 | ) | (3,107 | ) | |||||
Changes in liability for pre-existing warranties, including expirations | 8,120 | — | |||||||
Provision for warranty | 19,930 | 14,156 | |||||||
Accrued warranty—end of period | $ | 71,932 | $ | 24,062 | |||||
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: | |||||||||
March 31, | December 31, | ||||||||
2014 | 2013 | ||||||||
Customer A | 14 | % | 30 | % | |||||
Customer B | 10 | % | 9 | % | |||||
Reconciles of Numerator and Denominator Used in Calculation of Basic and Diluted Net Income (Loss) Per Share | ' | ||||||||
The following table reconciles the numerator and denominator used in the calculation of basic and diluted net income (loss) per share (in thousands, except share data); | |||||||||
Three Months Ended | |||||||||
March 31, | |||||||||
2014 | 2013 | ||||||||
Numerator | |||||||||
Net income (loss) used to calculate net income (loss) per share: | |||||||||
Basic | $ | (49,800 | ) | $ | 11,248 | ||||
Adjustment for change in fair value of warrant liability | — | (10,692 | ) | ||||||
Diluted | $ | (49,800 | ) | $ | 556 | ||||
Denominator | |||||||||
Weighted-average shares, basic | 123,472,782 | 114,711,899 | |||||||
Effect of dilutive securities: | |||||||||
Stock options | — | 7,057,956 | |||||||
DOE warrant | — | 2,451,718 | |||||||
Employee stock purchase plan | — | 43,719 | |||||||
Weighted-average shares, diluted | 123,472,782 | 124,265,292 | |||||||
Schedule of Potential Weighted Common Shares Outstanding that were Excluded from Computation of Basic and Diluted Net Income (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 income (loss) per share of common stock for the periods, related to the following securities: | |||||||||
Three Months Ended | |||||||||
March 31, | |||||||||
2014 | 2013 | ||||||||
Stock options | 14,066,074 | 14,861,523 | |||||||
Convertible senior notes | 2,015,267 | — | |||||||
Warrant issued in May 2013 | 433,479 | — | |||||||
Restricted stock units | 221,168 | — | |||||||
Employee stock purchase plan | 947 | ||||||||
DOE warrant | — | 597,766 |
Balance_Sheet_Components_Table
Balance Sheet Components (Tables) | 3 Months Ended | ||||||||
Mar. 31, 2014 | |||||||||
Organization Consolidation And Presentation Of Financial Statements [Abstract] | ' | ||||||||
Schedule of Inventory | ' | ||||||||
As of March 31, 2014 and December 31, 2013, our inventory consisted of the following (in thousands): | |||||||||
March 31, | December 31, | ||||||||
2014 | 2013 | ||||||||
Raw materials | $ | 197,779 | $ | 184,665 | |||||
Work in process | 64,431 | 42,500 | |||||||
Finished goods | 132,234 | 69,324 | |||||||
Service parts | 56,286 | 43,866 | |||||||
Total | $ | 450,730 | $ | 340,355 | |||||
Schedule of Property, Plant and Equipment, Net | ' | ||||||||
As of March 31, 2014 and December 31, 2013, our property, plant and equipment, net, consisted of the following (in thousands): | |||||||||
March 31, | December 31, | ||||||||
2014 | 2013 | ||||||||
Machinery, equipment and office furniture | $ | 380,597 | $ | 322,394 | |||||
Tooling | 239,557 | 230,385 | |||||||
Leasehold improvements | 117,521 | 94,763 | |||||||
Building and building improvements | 75,314 | 67,707 | |||||||
Land | 45,020 | 45,020 | |||||||
Computer equipment and software | 50,211 | 42,073 | |||||||
Construction in progress | 110,504 | 76,294 | |||||||
1,018,724 | 878,636 | ||||||||
Less: Accumulated depreciation and amortization | (169,335 | ) | (140,142 | ) | |||||
Total | $ | 849,389 | $ | 738,494 | |||||
Schedule of Other Assets | ' | ||||||||
As of March 31, 2014 and December 31, 2013, our other assets consisted of the following (in thousands): | |||||||||
March 31, | December 31, | ||||||||
2014 | 2013 | ||||||||
Debt issuance costs, net | $ | 19,585 | $ | 7,315 | |||||
Emission permits | 13,662 | 13,930 | |||||||
Other | 2,896 | 2,392 | |||||||
Total | $ | 36,143 | $ | 23,637 | |||||
Schedule of Accrued Liabilities | ' | ||||||||
As of March 31, 2014 and December 31, 2013, our accrued liabilities consisted of the following (in thousands): | |||||||||
2014 | 2013 | ||||||||
Payroll and related costs | $ | 35,495 | $ | 26,535 | |||||
Taxes payable | 27,984 | 38,067 | |||||||
Accrued purchases | 27,826 | 19,023 | |||||||
Accrued warranty, current portion | 27,721 | 19,917 | |||||||
Accrued interest | 4,393 | 741 | |||||||
Environmental liabilities, current portion | 2,289 | 2,132 | |||||||
Other | 2,966 | 1,837 | |||||||
Total | $ | 128,674 | $ | 108,252 | |||||
Schedule of Other Long-Term Liabilities | ' | ||||||||
As of March 31, 2014 and December 31, 2013, our other long-term liabilities consisted of the following (in thousands): | |||||||||
March 31, | December 31, | ||||||||
2014 | 2013 | ||||||||
Accrued warranty, less current portion | 44,211 | 33,265 | |||||||
Deferred rent liability | 11,239 | 9,886 | |||||||
Deferred tax liabilities | 5,231 | 5,233 | |||||||
Environmental liabilities, less current portion | 3,207 | 3,364 | |||||||
Asset retirement obligations | 2,710 | 2,115 | |||||||
Other | 4,371 | 4,334 | |||||||
Total | $ | 70,969 | $ | 58,197 | |||||
Fair_Value_of_Financial_Instru1
Fair Value of Financial Instruments (Tables) | 3 Months Ended | ||||||||||||||||||||||||||||||||
Mar. 31, 2014 | |||||||||||||||||||||||||||||||||
Fair Value Disclosures [Abstract] | ' | ||||||||||||||||||||||||||||||||
Schedule of Fair Value Hierarchy of Financial Assets Carried at Fair Value | ' | ||||||||||||||||||||||||||||||||
As of March 31, 2014 and December 31, 2013, the fair value hierarchy for our financial assets that are carried at fair value was as follows (in thousands): | |||||||||||||||||||||||||||||||||
March 31, 2014 | December 31, 2013 | ||||||||||||||||||||||||||||||||
Fair | Level I | Level II | Level III | Fair | Level I | Level II | Level III | ||||||||||||||||||||||||||
Value | Value | ||||||||||||||||||||||||||||||||
Money market funds | $ | 1,831,259 | $ | 1,831,259 | $ | — | $ | — | $ | 460,313 | $ | 460,313 | $ | — | $ | — | |||||||||||||||||
Commercial paper | 178,000 | — | 178,000 | — | — | — | — | — | |||||||||||||||||||||||||
U.S. treasury bills | 11,111 | — | 11,111 | — | — | — | — | — | |||||||||||||||||||||||||
Total | $ | 2,020,370 | $ | 1,831,259 | $ | 189,111 | $ | — | $ | 460,313 | $ | 460,313 | $ | — | $ | — | |||||||||||||||||
Available-for-Sale Marketable Securities | ' | ||||||||||||||||||||||||||||||||
Our available-for-sale marketable securities classified by security type as of March 31, 2014 consisted of the following (in thousands): | |||||||||||||||||||||||||||||||||
March 31, 2014 | |||||||||||||||||||||||||||||||||
Amortized | Gross | Gross | Fair Value | ||||||||||||||||||||||||||||||
Cost | Unrealized | Unrealized | |||||||||||||||||||||||||||||||
Gains | Losses | ||||||||||||||||||||||||||||||||
Commercial paper | $ | 178,000 | $ | — | $ | — | $ | 178,000 | |||||||||||||||||||||||||
U.S. treasury bills | 11,111 | — | — | 11,111 | |||||||||||||||||||||||||||||
Total | $ | 189,111 | $ | — | $ | — | $ | 189,111 | |||||||||||||||||||||||||
Schedule of Changes in Fair Value of Common Stock Warrant Liability | ' | ||||||||||||||||||||||||||||||||
The changes in the fair value of our common stock warrant liability (see Note 6) were as follows (in thousands): | |||||||||||||||||||||||||||||||||
Three Months Ended | |||||||||||||||||||||||||||||||||
March 31, 2013 | |||||||||||||||||||||||||||||||||
Fair value, beginning of period | $ | 10,692 | |||||||||||||||||||||||||||||||
Change in fair value | (10,692 | ) | |||||||||||||||||||||||||||||||
Fair value, end of period | $ | — | |||||||||||||||||||||||||||||||
Equity_Incentive_Plans_Tables
Equity Incentive Plans (Tables) | 3 Months Ended | ||||||||
Mar. 31, 2014 | |||||||||
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | ' | ||||||||
Summary of Stock-Based Compensation Expense | ' | ||||||||
The following table summarizes our stock-based compensation expense by line item in the condensed consolidated statements of operations (in thousands): | |||||||||
Three Months Ended | |||||||||
March 31, | |||||||||
2014 | 2013 | ||||||||
Cost of sales | $ | 3,106 | $ | 1,536 | |||||
Research and development | 13,545 | 7,644 | |||||||
Selling, general and administrative | 20,387 | 5,688 | |||||||
Total | $ | 37,038 | $ | 14,868 | |||||
Information_about_Geographic_A1
Information about Geographic Areas (Tables) | 3 Months Ended | ||||||||
Mar. 31, 2014 | |||||||||
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 | |||||||||
Three Months Ended | |||||||||
March 31, | |||||||||
2014 | 2013 | ||||||||
North America | $ | 288,379 | $ | 552,496 | |||||
Europe | 332,108 | 8,851 | |||||||
Asia | 55 | 445 | |||||||
Total | $ | 620,542 | $ | 561,792 | |||||
Schedule of Long-Lived Assets by Geographic Area | ' | ||||||||
Long-lived Assets | |||||||||
March 31, | December 31, | ||||||||
2014 | 2013 | ||||||||
United States | $ | 1,264,317 | $ | 1,091,487 | |||||
International | 36,801 | 29,432 | |||||||
Total | $ | 1,301,118 | $ | 1,120,919 | |||||
Overview_of_the_Company_Additi
Overview of the Company - Additional Information (Detail) (USD $) | 1 Months Ended | 3 Months Ended | 1 Months Ended | 3 Months Ended | 1 Months Ended | 3 Months Ended | 1 Months Ended | 3 Months Ended | 3 Months Ended | 1 Months Ended | |||||
31-May-13 | Mar. 31, 2014 | Dec. 31, 2013 | Mar. 31, 2014 | Mar. 31, 2014 | Mar. 31, 2014 | Mar. 31, 2014 | 31-May-13 | Mar. 31, 2014 | Mar. 31, 2014 | Mar. 31, 2014 | Mar. 31, 2014 | Mar. 31, 2014 | 31-May-13 | 31-May-13 | |
0.25% Convertible senior notes due 2019 [Member] | 0.25% Convertible senior notes due 2019 [Member] | 1.25% Convertible senior notes due 2021 [Member] | 1.25% Convertible senior notes due 2021 [Member] | 1.50% Convertible senior notes due 2018 [Member] | 1.50% Convertible senior notes due 2018 [Member] | Warrants [Member] | Warrants [Member] | Warrants [Member] | Warrants [Member] | Chief Executive Officer [Member] | Chief Executive Officer [Member] | ||||
0.25% Convertible senior notes due 2019 [Member] | 1.25% Convertible senior notes due 2021 [Member] | 1.50% Convertible senior notes due 2018 [Member] | Private placement [Member] | ||||||||||||
Overview Of The Company [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Principal amount of convertible senior notes | ' | $659,800,000 | $660,000,000 | $800,000,000 | $800,000,000 | $1,200,000,000 | $1,200,000,000 | $660,000,000 | $659,800,000 | ' | ' | ' | ' | ' | ' |
Debt instrument interest rate | ' | ' | ' | 0.25% | 0.25% | 1.25% | 1.25% | 1.50% | 1.50% | ' | ' | ' | ' | ' | ' |
Debt instrument maturity date | ' | ' | ' | 31-Mar-19 | ' | 31-Mar-21 | ' | 30-Jun-18 | ' | ' | ' | ' | ' | ' | ' |
Hedge transactions | ' | 524,700,000 | ' | ' | ' | ' | ' | ' | 177,500,000 | ' | ' | ' | ' | ' | ' |
Proceeds from issuance of warrants | ' | 338,400,000 | ' | ' | ' | ' | ' | ' | ' | 338,400,000 | ' | ' | 120,300,000 | ' | ' |
Proceeds from convertible senior notes, net of underwriting discounts and offering costs | ' | 1,780,000,000 | ' | ' | 787,600,000 | ' | 1,180,000,000 | 590,800,000 | ' | ' | ' | ' | ' | ' | ' |
Common stock shares sold | 3,902,862 | 124,040,756 | 123,090,990 | ' | ' | ' | ' | ' | ' | 5,300,000 | 2,200,000 | 3,300,000 | ' | 487,857 | 596,272 |
Cash proceeds from sale of common stock | $355,500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $45,000,000 | $55,000,000 |
Summary_of_Significant_Account3
Summary of Significant Accounting Policies - Additional Information (Detail) (USD $) | 3 Months Ended | 1 Months Ended | 3 Months Ended | 3 Months Ended | ||||||||||||||
Mar. 31, 2014 | Dec. 31, 2013 | Mar. 31, 2014 | 31-May-13 | Mar. 31, 2014 | Mar. 31, 2014 | Mar. 31, 2014 | Apr. 30, 2013 | Apr. 30, 2013 | Mar. 31, 2014 | Dec. 31, 2013 | Mar. 31, 2014 | Dec. 31, 2013 | Mar. 31, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Mar. 31, 2014 | Mar. 31, 2014 | |
1.50% Convertible senior notes due 2018 [Member] | 1.50% Convertible senior notes due 2018 [Member] | 2018 Notes [Member] | 2019 Notes [Member] | 2021 Notes [Member] | Minimum [Member] | Maximum [Member] | Vehicle maintenance and service plans [Member] | Vehicle maintenance and service plans [Member] | Supercharger network [Member] | Supercharger network [Member] | 2008 Tesla Roadster [Member] | Model S [Member] | Model S [Member] | Model S [Member] | Tesla Roadsters [Member] | |||
mi | mi | New Vehicle Limited Warranty [Member] | New Vehicle Limited Warranty [Member] | |||||||||||||||
mi | mi | |||||||||||||||||
Summary Of Significant Accounting Policies [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Deferred revenue | ' | ' | ' | ' | ' | ' | ' | ' | ' | $30,200,000 | $27,600,000 | $13,900,000 | $10,300,000 | ' | $3,900,000 | $700,000 | ' | ' |
Resale agreement term | ' | ' | ' | ' | ' | ' | ' | '36 months | '39 months | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Warranty costs incurred for resale value guarantee | 1,200,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
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 warranty period, years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '4 years | ' | ' | ' | '3 years |
Extended product service period, years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '4 years | ' | ' | ' |
Extended warranty coverage, vehicle additional mileage | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 50,000 | ' | ' | ' | 36,000 |
Extended service coverage, vehicle additional mileage | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 50,000 | ' | 125,000 | ' |
Extended warranty coverage, vehicle mileage (in miles) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 'Unlimited | ' |
Accounts receivable from OEM customers excess percentage | 10.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt instrument interest rate | ' | ' | 1.50% | 1.50% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Convertible notes, conversion price | $124.52 | ' | ' | ' | $124.52 | $359.87 | $359.87 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Unrecognized tax benefits | 17,400,000 | 13,400,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Unrecognized tax benefits that would not affect effective tax rate | $15,700,000 | $11,800,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Summary_of_Significant_Account4
Summary of Significant Accounting Policies - Schedule of Account Activity Related to Resale Value Guarantee Program (Detail) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 |
Operating Leases [Line Items] | ' | ' |
Increase in operating lease vehicles under the resale value guarantee program | ($197,734) | $18,220 |
Increase in deferred revenue related to Model S deliveries with resale value guarantee | -50,282 | -4,059 |
Resale value guarantee liability-beginning of period | 236,299 | ' |
Increase in resale value guarantee | -54,318 | ' |
Resale value guarantee liability-end of period | 290,617 | ' |
Resale Value Guarantee [Member] | ' | ' |
Operating Leases [Line Items] | ' | ' |
Operating lease vehicles under the resale value guarantee program-beginning of period | 376,979 | ' |
Increase in operating lease vehicles under the resale value guarantee program | 84,515 | ' |
Depreciation expense recorded in cost of automotive sales | -12,402 | ' |
Additional depreciation expense recorded in cost of automotive sales as a result of early cancellation of resale value guarantee | -2,060 | ' |
Operating lease vehicles under the resale value guarantee program-end of period | 447,032 | ' |
Deferred revenue-beginning of period | 230,856 | ' |
Increase in deferred revenue related to Model S deliveries with resale value guarantee | 63,070 | ' |
Amortization of deferred revenue recorded in automotive sales | -21,779 | ' |
Additional revenue recorded in automotive sales as a result of early cancellation of resale value guarantee | -1,441 | ' |
Deferred revenue-end of period | 270,706 | ' |
Resale value guarantee liability-beginning of period | 236,298 | ' |
Increase in resale value guarantee | 55,602 | ' |
Additional revenue recorded in automotive sales as a result of early cancellation of resale value guarantee | -1,283 | ' |
Resale value guarantee liability-end of period | $290,617 | ' |
Summary_of_Significant_Account5
Summary of Significant Accounting Policies - Schedule of Accrued Warranty Activity (Detail) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 |
Commitments And Contingencies Disclosure [Abstract] | ' | ' |
Accrued warranty-beginning of period | $53,182 | $13,013 |
Warranty costs incurred | -9,300 | -3,107 |
Changes in liability for pre-existing warranties, including expirations | 8,120 | ' |
Provision for warranty | 19,930 | 14,156 |
Accrued warranty-end of period | $71,932 | $24,062 |
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]) | 3 Months Ended | 12 Months Ended |
Mar. 31, 2014 | Dec. 31, 2013 | |
Customer A [Member] | ' | ' |
Concentration Risk [Line Items] | ' | ' |
Accounts receivable in excess of 10% of total accounts receivable | 14.00% | 30.00% |
Customer B [Member] | ' | ' |
Concentration Risk [Line Items] | ' | ' |
Accounts receivable in excess of 10% of total accounts receivable | 10.00% | 9.00% |
Summary_of_Significant_Account7
Summary of Significant Accounting Policies - Reconciles of Numerator and Denominator Used in Calculation of Basic and Diluted Net Income (Loss) Per Share (Detail) (USD $) | 3 Months Ended | |
In Thousands, except Share data, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 |
Numerator | ' | ' |
Basic | ($49,800) | $11,248 |
Adjustment for change in fair value of warrant liability | ' | -10,692 |
Diluted | -49,800 | 556 |
Denominator | ' | ' |
Weighted-average shares, basic | 123,472,782 | 114,711,899 |
Effect of dilutive securities: | ' | ' |
Weighted-average shares, diluted | 123,472,782 | 124,265,292 |
Stock options [Member] | ' | ' |
Effect of dilutive securities: | ' | ' |
Dilutive securities | ' | 7,057,956 |
DOE warrant [Member] | ' | ' |
Effect of dilutive securities: | ' | ' |
Dilutive securities | ' | 2,451,718 |
Employee stock purchase plan [Member] | ' | ' |
Effect of dilutive securities: | ' | ' |
Dilutive securities | ' | $43,719 |
Summary_of_Significant_Account8
Summary of Significant Accounting Policies - Schedule of Potential Weighted Common Shares Outstanding that were Excluded from Computation of Basic and Diluted Net Income (Loss) per Share of Common Stock (Detail) | 3 Months Ended | |
Mar. 31, 2014 | Mar. 31, 2013 | |
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 | 14,066,074 | 14,861,523 |
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 | 2,015,267 | ' |
Warrant issued in May 2013 [Member] | ' | ' |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ' | ' |
Potential common shares excluded from computation of net loss per share | 433,479 | ' |
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 | 221,168 | ' |
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 | 947 | ' |
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 | ' | 597,766 |
Balance_Sheet_Components_Sched
Balance Sheet Components - Schedule of Inventory (Detail) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Inventory Disclosure [Abstract] | ' | ' |
Raw materials | $197,779 | $184,665 |
Work in process | 64,431 | 42,500 |
Finished goods | 132,234 | 69,324 |
Service parts | 56,286 | 43,866 |
Total | $450,730 | $340,355 |
Balance_Sheet_Components_Sched1
Balance Sheet Components - Schedule of Property, Plant and Equipment, Net (Detail) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Property, Plant and Equipment [Line Items] | ' | ' |
Property, plant and equipment, gross | $1,018,724 | $878,636 |
Less: Accumulated depreciation and amortization | -169,335 | -140,142 |
Property, plant and equipment, net | 849,389 | 738,494 |
Machinery, equipment and office furniture [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Property, plant and equipment, gross | 380,597 | 322,394 |
Tooling [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Property, plant and equipment, gross | 239,557 | 230,385 |
Leasehold improvements [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Property, plant and equipment, gross | 117,521 | 94,763 |
Building and building improvements [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Property, plant and equipment, gross | 75,314 | 67,707 |
Land [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Property, plant and equipment, gross | 45,020 | 45,020 |
Computer equipment and software [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Property, plant and equipment, gross | 50,211 | 42,073 |
Construction in progress [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Property, plant and equipment, gross | $110,504 | $76,294 |
Balance_Sheet_Components_Addit
Balance Sheet Components - Additional Information (Detail) (USD $) | 3 Months Ended | ||
In Millions, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 | Dec. 31, 2013 |
Debt Disclosure [Abstract] | ' | ' | ' |
Interest expense capitalized | $1.20 | $1.50 | ' |
Depreciation and amortization expense | 28.9 | 17.4 | ' |
Total property and equipment assets under capital lease | 26 | ' | 23.3 |
Accumulated depreciation related to assets under capital lease | $6.70 | ' | $5 |
Balance_Sheet_Components_Sched2
Balance Sheet Components - Schedule of Other Assets (Detail) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Statement Of Financial Position [Abstract] | ' | ' |
Debt issuance costs, net | $19,585 | $7,315 |
Emission permits | 13,662 | 13,930 |
Other | 2,896 | 2,392 |
Total | $36,143 | $23,637 |
Balance_Sheet_Components_Sched3
Balance Sheet Components - Schedule of Accrued Liabilities (Detail) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Payables And Accruals [Abstract] | ' | ' |
Payroll and related costs | $35,495 | $26,535 |
Taxes payable | 27,984 | 38,067 |
Accrued purchases | 27,826 | 19,023 |
Accrued warranty, current portion | 27,721 | 19,917 |
Accrued interest | 4,393 | 741 |
Environmental liabilities, current portion | 2,289 | 2,132 |
Other | 2,966 | 1,837 |
Total | $128,674 | $108,252 |
Balance_Sheet_Components_Sched4
Balance Sheet Components - Schedule of Other Long-Term Liabilities (Detail) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Statement Of Financial Position [Abstract] | ' | ' |
Accrued warranty, less current portion | $44,211 | $33,265 |
Deferred rent liability | 11,239 | 9,886 |
Deferred tax liabilities | 5,231 | 5,233 |
Environmental liabilities, less current portion | 3,207 | 3,364 |
Asset retirement obligations | 2,710 | 2,115 |
Other | 4,371 | 4,334 |
Total | $70,969 | $58,197 |
Fair_Value_of_Financial_Instru2
Fair Value of Financial Instruments - Additional Information (Detail) (USD $) | 3 Months Ended | |
In Millions, unless otherwise specified | Mar. 31, 2014 | Dec. 31, 2013 |
Debt Instrument [Line Items] | ' | ' |
Common stock warrant liability, expired date | 31-May-13 | ' |
Estimated fair value of notes | $1,190 | $914.90 |
Par value of convertible senior notes | 659.8 | 660 |
2019 Notes [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Estimated fair value of notes | 739 | ' |
Par value of convertible senior notes | 800 | ' |
2021 Notes [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Estimated fair value of notes | 1,090 | ' |
Par value of convertible senior notes | $1,200 | ' |
Fair_Value_of_Financial_Instru3
Fair Value of Financial Instruments - Schedule of Fair Value Hierarchy of Financial Assets Carried at Fair Value (Detail) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Financial assets, Fair Value | $2,020,370 | $460,313 |
Money market funds [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Financial assets, Fair Value | 1,831,259 | 460,313 |
Commercial paper [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Financial assets, Fair Value | 178,000 | ' |
U.S. treasury bills [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Financial assets, Fair Value | 11,111 | ' |
Level I [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Financial assets, Fair Value | 1,831,259 | 460,313 |
Level I [Member] | Money market funds [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Financial assets, Fair Value | 1,831,259 | 460,313 |
Level II [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Financial assets, Fair Value | 189,111 | ' |
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 II [Member] | Commercial paper [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Financial assets, Fair Value | 178,000 | ' |
Level II [Member] | U.S. treasury bills [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Financial assets, Fair Value | 11,111 | ' |
Level III [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Financial assets, Fair Value | ' | ' |
Level III [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] | Commercial paper [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Financial assets, Fair Value | ' | ' |
Level III [Member] | U.S. treasury bills [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Financial assets, Fair Value | ' | ' |
Fair_Value_of_Financial_Instru4
Fair Value of Financial Instruments - Available-for-Sale Marketable Securities (Detail) (USD $) | Mar. 31, 2014 |
In Thousands, unless otherwise specified | |
Schedule of Available-for-sale Securities [Line Items] | ' |
Amortized Cost | $189,111 |
Gross Unrealized Gains | ' |
Gross Unrealized Losses | ' |
Fair Value | 189,111 |
Commercial paper [Member] | ' |
Schedule of Available-for-sale Securities [Line Items] | ' |
Amortized Cost | 178,000 |
Gross Unrealized Gains | ' |
Gross Unrealized Losses | ' |
Fair Value | 178,000 |
U.S. treasury bills [Member] | ' |
Schedule of Available-for-sale Securities [Line Items] | ' |
Amortized Cost | 11,111 |
Gross Unrealized Gains | ' |
Gross Unrealized Losses | ' |
Fair Value | $11,111 |
Fair_Value_of_Financial_Instru5
Fair Value of Financial Instruments - Schedule of Changes in Fair Value of Common Stock Warrant Liability (Detail) (USD $) | 3 Months Ended |
In Thousands, unless otherwise specified | Mar. 31, 2013 |
Fair Value Disclosures [Abstract] | ' |
Fair value, beginning of period | $10,692 |
Change in fair value | ($10,692) |
Customer_Deposits_Additional_I
Customer Deposits - Additional Information (Detail) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Other Liabilities Disclosure [Abstract] | ' | ' |
Customer deposits | $198,006 | $163,153 |
Convertible_and_Longterm_Debt_1
Convertible and Long-term Debt Obligations - 0.25% and 1.25% Convertible Senior Notes and Bond Hedge and Warrant Transactions - Additional Information (Detail) (USD $) | 3 Months Ended | 3 Months Ended | 1 Months Ended | 3 Months Ended | 3 Months Ended | 3 Months Ended | ||||||||||||||
Mar. 31, 2014 | Dec. 31, 2013 | 31-May-13 | Mar. 31, 2014 | Mar. 31, 2014 | Mar. 31, 2014 | 31-May-13 | Mar. 31, 2014 | Mar. 31, 2014 | Mar. 31, 2014 | Mar. 31, 2014 | Mar. 31, 2014 | Mar. 31, 2014 | Mar. 31, 2014 | Mar. 31, 2014 | Mar. 31, 2014 | Mar. 31, 2014 | Mar. 31, 2014 | Mar. 31, 2014 | Mar. 31, 2014 | |
D | 0.25% Convertible senior notes due 2019 [Member] | 1.25% Convertible senior notes due 2021 [Member] | Zero Point Two Five And One Point Two Five Percent Convertible Senior Notes And Bond Hedge And Warrant Transactions [Member] | 1.50% Convertible senior notes due 2018 [Member] | 1.50% Convertible senior notes due 2018 [Member] | Warrants [Member] | Warrants [Member] | Warrants [Member] | Warrants [Member] | Minimum [Member] | Minimum [Member] | Minimum [Member] | Minimum [Member] | Maximum [Member] | Maximum [Member] | Maximum [Member] | Maximum [Member] | |||
D | 0.25% Convertible senior notes due 2019 [Member] | 1.25% Convertible senior notes due 2021 [Member] | 1.50% Convertible senior notes due 2018 [Member] | 1.50% Convertible senior notes due 2018 [Member] | Warrants [Member] | Warrants [Member] | Warrants [Member] | 1.50% Convertible senior notes due 2018 [Member] | Warrants [Member] | Warrants [Member] | Warrants [Member] | |||||||||
0.25% Convertible senior notes due 2019 [Member] | 1.25% Convertible senior notes due 2021 [Member] | 0.25% Convertible senior notes due 2019 [Member] | 1.25% Convertible senior notes due 2021 [Member] | |||||||||||||||||
Debt Instrument [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Principal amount of convertible senior notes | $659,800,000 | $660,000,000 | ' | $800,000,000 | $1,200,000,000 | ' | $660,000,000 | $659,800,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt instrument interest rate | ' | ' | ' | 0.25% | 1.25% | ' | 1.50% | 1.50% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Proceeds from convertible senior notes, net of underwriting discounts and offering costs | 1,780,000,000 | ' | ' | 787,600,000 | 1,180,000,000 | ' | 590,800,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt issuance costs | ' | ' | ' | 12,400,000 | 18,700,000 | ' | 12,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt payment due dates | 'The interest rates are fixed at 0.25% and 1.25% per annum and are payable semi-annually in arrears on March 1 and September 1 of each year, commencing on September 1, 2014. | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt, interest expense | 200,000 | ' | ' | ' | ' | ' | ' | 500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Coupon interest expense | 1,200,000 | ' | ' | ' | ' | ' | ' | 2,400,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Convertible principal amount | 1,000 | ' | ' | ' | ' | 1,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Convertible instrument, shares issued | 8.0306 | ' | ' | ' | ' | 2.7788 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt instrument convertible, conversion price per share | $124.52 | ' | ' | ' | ' | $359.87 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt instrument convertible consecutive trading days | '30 days | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '20 days | ' | ' | ' | '30 days | ' | ' | ' |
Debt instrument convertible 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 | ' | ' | ' | 163,600,000 | 321,200,000 | ' | ' | 69,900,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt instrument, effective interest rate | 4.29% | ' | ' | 4.89% | 5.96% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Amortization of debt discount | 8,493,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Long-term debt, less current portion | 1,519,967,000 | 586,119,000 | ' | 638,500,000 | 881,500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Payment for purchase of common stock | 5,600,000 | ' | ' | ' | ' | ' | ' | 5,300,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Common stock purchase price | $359.87 | ' | ' | ' | ' | ' | ' | $124.52 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Hedge transactions | 524,700,000 | ' | ' | ' | ' | ' | ' | 177,500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Common stock share issued | 124,040,756 | 123,090,990 | 3,902,862 | ' | ' | ' | ' | ' | 5,300,000 | 2,200,000 | 3,300,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Common stock par value | $0.00 | $0.00 | ' | ' | ' | ' | ' | ' | $184.48 | $512.66 | $560.64 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Proceeds from issuance of warrants | $338,400,000 | ' | ' | ' | ' | ' | ' | ' | $338,400,000 | ' | ' | $120,300,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Conversion price per share | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $124.52 | $359.87 | $359.87 | ' | $184.48 | $512.66 | $560.64 |
Convertible_and_Longterm_Debt_2
Convertible and Long-term Debt Obligations - 1.50% Convertible Senior Notes and Bond Hedge and Warrant Transactions - Additional Information (Detail) (USD $) | 3 Months Ended | 1 Months Ended | 3 Months Ended | 3 Months Ended | |||||||
Mar. 31, 2014 | Dec. 31, 2013 | 31-May-13 | 31-May-13 | Mar. 31, 2014 | Mar. 31, 2014 | Mar. 31, 2014 | Mar. 31, 2014 | Mar. 31, 2014 | Mar. 31, 2014 | Mar. 31, 2014 | |
D | 1.50% Convertible senior notes due 2018 [Member] | 1.50% Convertible senior notes due 2018 [Member] | Warrants [Member] | Warrants [Member] | Minimum [Member] | Minimum [Member] | Maximum [Member] | Maximum [Member] | |||
D | 1.50% Convertible senior notes due 2018 [Member] | 1.50% Convertible senior notes due 2018 [Member] | Warrants [Member] | 1.50% Convertible senior notes due 2018 [Member] | Warrants [Member] | ||||||
Debt Instrument [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Principal amount of Notes | ' | ' | ' | $660,000,000 | ' | ' | ' | ' | ' | ' | ' |
Debt instrument interest rate | ' | ' | ' | 1.50% | 1.50% | ' | ' | ' | ' | ' | ' |
Proceeds from convertible senior notes, net of underwriting discounts and offering costs | 1,780,000,000 | ' | ' | 590,800,000 | ' | ' | ' | ' | ' | ' | ' |
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 expenses | 200,000 | ' | ' | ' | 500,000 | ' | ' | ' | ' | ' | ' |
Coupon interest expense | 1,200,000 | ' | ' | ' | 2,400,000 | ' | ' | ' | ' | ' | ' |
Convertible principal amount | 1,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Convertible instrument, shares issued | 8.0306 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt instrument convertible, conversion price per share | $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 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt instrument, effective interest rate | 4.29% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Amortization of debt discount | 8,493,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Long-term debt, less current portion | 1,519,967,000 | 586,119,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Payment for purchase of common stock | 5,600,000 | ' | ' | ' | 5,300,000 | ' | ' | ' | ' | ' | ' |
Common stock purchase price | $359.87 | ' | ' | ' | $124.52 | ' | ' | ' | ' | ' | ' |
Hedge transactions | 524,700,000 | ' | ' | ' | 177,500,000 | ' | ' | ' | ' | ' | ' |
Common stock share issued | 124,040,756 | 123,090,990 | 3,902,862 | ' | ' | 5,300,000 | ' | ' | ' | ' | ' |
Common stock par value | $0.00 | $0.00 | ' | ' | ' | $184.48 | ' | ' | ' | ' | ' |
Proceeds from issuance of warrants | 338,400,000 | ' | ' | ' | ' | 338,400,000 | 120,300,000 | ' | ' | ' | ' |
Conversion price per share | ' | ' | ' | ' | ' | ' | ' | ' | $124.52 | ' | $184.48 |
Common stock price to conversion price, percentage | 130.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Difference between principal amount and carrying value of Notes | ' | ' | ' | ' | 69,900,000 | ' | ' | ' | ' | ' | ' |
Aggregate principal amount of Notes | 659,800,000 | 660,000,000 | ' | 660,000,000 | 659,800,000 | ' | ' | ' | ' | ' | ' |
Notes carrying value | $589,875,000 | $182,000 | ' | ' | $589,900,000 | ' | ' | ' | ' | ' | ' |
Convertible_and_Longterm_Debt_3
Convertible and Long-term Debt Obligations - Full Repayment of DOE Loan Facility and Expiration of DOE Warrant - Additional Information (Detail) (USD $) | 3 Months Ended | |||
In Millions, except Share data, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 | Mar. 31, 2014 | Mar. 31, 2014 |
SecurityLoan | DOE warrant [Member] | DOE Loan Facility [Member] | Series E convertible preferred stock [Member] | |
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 | ' | ' | ' |
Warrant issued to DOE, shares purchasable | 3,090,111 | ' | ' | 9,255,035 |
Exercise price of the warrant issued, price per share | $7.54 | ' | ' | $2.51 |
Fair value of the DOE warrant | ' | 10.7 | ' | ' |
Debt instrument fair value | ' | 0 | ' | ' |
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 | ' | ' | $29.30 | ' |
Equity_Incentive_Plans_Additio
Equity Incentive Plans - Additional Information (Detail) (USD $) | 1 Months Ended | 3 Months Ended | 1 Months Ended | 3 Months Ended | 1 Months Ended | 3 Months Ended | ||||||
Aug. 31, 2012 | Mar. 31, 2014 | Mar. 31, 2013 | Jan. 31, 2014 | Mar. 31, 2014 | Aug. 31, 2012 | Mar. 31, 2014 | Mar. 31, 2013 | Mar. 31, 2014 | Mar. 31, 2014 | Mar. 31, 2014 | Mar. 31, 2014 | |
Tranches | Performance-based Stock Option Grant [Member] | Performance-based Stock Option Grant [Member] | 2012 CEO Grant [Member] | 2012 CEO Grant [Member] | 2012 CEO Grant [Member] | First Model X Production Vehicle [Member] | 12-month period [Member] | First Gen III Production Vehicle [Member] | Three year period [Member] | |||
Tranches | Vehicle | |||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of stock options granted | ' | ' | ' | 782,500 | ' | 5,274,901 | ' | ' | ' | ' | ' | ' |
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% |
Stock-based compensation expense | ' | $37,038,000 | $14,868,000 | ' | $2,900,000 | ' | $10,000,000 | $0 | ' | ' | ' | ' |
CEO Grant consists of number of vesting tranches | 10 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Market capitalization | ' | 4,000,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Initial market capitalization | ' | ' | ' | ' | ' | ' | 3,200,000,000 | ' | ' | ' | ' | ' |
Number of stock options vested | ' | ' | ' | ' | ' | ' | 0 | ' | ' | ' | ' | ' |
Cash compensation received by CEO | ' | ' | ' | ' | ' | ' | $0 | ' | ' | ' | ' | ' |
Equity_Incentive_Plans_Summary
Equity Incentive Plans - Summary of Stock-Based Compensation Expense (Detail) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | ' |
Stock-based compensation expense | $37,038 | $14,868 |
Cost of sales [Member] | ' | ' |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | ' |
Stock-based compensation expense | 3,106 | 1,536 |
Research and development [Member] | ' | ' |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | ' |
Stock-based compensation expense | 13,545 | 7,644 |
Selling, general and administrative [Member] | ' | ' |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | ' |
Stock-based compensation expense | $20,387 | $5,688 |
Information_about_Geographic_A2
Information about Geographic Areas - Additional Information (Detail) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 |
Segment | ||
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' |
Number of reporting segment | 1 | ' |
Revenues | $620,542 | $561,792 |
United States [Member] | ' | ' |
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' |
Revenues | 272,300 | 534,500 |
Norway [Member] | ' | ' |
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' |
Revenues | $211,400 | ' |
Information_about_Geographic_A3
Information about Geographic Areas - Schedule of Revenues by Geographic Area (Detail) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 |
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' |
Revenues | $620,542 | $561,792 |
North America [Member] | ' | ' |
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' |
Revenues | 288,379 | 552,496 |
Europe [Member] | ' | ' |
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' |
Revenues | 332,108 | 8,851 |
Asia [Member] | ' | ' |
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' |
Revenues | $55 | $445 |
Information_about_Geographic_A4
Information about Geographic Areas - Schedule of Long-Lived Assets by Geographic Area (Detail) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Schedule Of Assets By Segment [Line Items] | ' | ' |
Long-lived Assets | $1,301,118 | $1,120,919 |
United States [Member] | ' | ' |
Schedule Of Assets By Segment [Line Items] | ' | ' |
Long-lived Assets | 1,264,317 | 1,091,487 |
International [Member] | ' | ' |
Schedule Of Assets By Segment [Line Items] | ' | ' |
Long-lived Assets | $36,801 | $29,432 |
Strategic_Partnerships_Additio
Strategic Partnerships - Additional Information (Detail) (USD $) | 3 Months Ended | |
Mar. 31, 2014 | Mar. 31, 2013 | |
Limited Partners' Capital Account [Line Items] | ' | ' |
Development services revenue recognized | $1,731,000 | $6,589,000 |
Revenue from automotive sales | 618,811,000 | 555,203,000 |
Daimler Mercedes-Benz B-Class EV Program [Member] | ' | ' |
Limited Partners' Capital Account [Line Items] | ' | ' |
Future milestone payments | 33,200,000 | ' |
Development services revenue recognized | 1,700,000 | 6,500,000 |
Toyota supply and services agreement [Member] | ' | ' |
Limited Partners' Capital Account [Line Items] | ' | ' |
Revenue from automotive sales | $15,100,000 | $14,400,000 |
Commitments_and_Contingencies_
Commitments and Contingencies - Additional Information (Detail) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 | 31-May-10 | Mar. 31, 2014 | Dec. 31, 2013 |
NUMMI [Member] | NUMMI [Member] | ||||
Loss Contingencies [Line Items] | ' | ' | ' | ' | ' |
Estimated fair value of environmental liabilities | ' | ' | $5,300,000 | ' | ' |
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 | ' | ' | ' | 2,300,000 | ' |
Maximum amount that can be spent on remediation activities | ' | ' | ' | 30,000,000 | ' |
Environmental liabilities | $3,207,000 | $3,364,000 | ' | $5,500,000 | $5,500,000 |
Subsequent_Event_Additional_In
Subsequent Event - Additional Information (Detail) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 | Apr. 30, 2014 | Apr. 30, 2014 | Apr. 30, 2014 |
In Millions, except Share data, unless otherwise specified | Subsequent Event [Member] | 2019 Notes [Member] | 2021 Notes [Member] | ||
Subsequent Event [Member] | Subsequent Event [Member] | ||||
Subsequent Event [Line Items] | ' | ' | ' | ' | ' |
Aggregate principal amount of Notes | $659.80 | $660 | ' | $120 | $180 |
Convertible notes issuance cost | ' | ' | 78.7 | ' | ' |
Warrants to purchase of common stock | 3,090,111 | ' | ' | 300,000 | 500,000 |
Strike price of common stock | ' | ' | ' | $513 | $561 |
Proceeds from sale of warrants | ' | ' | $50.80 | ' | ' |