Tesla Inc (TSLA US) - Standardized

In Millions of USD except Per Share

12 Months Ending
Total Assets
+ Cash, Cash Equivalents & STI
+ Cash & Cash Equivalents
+ ST Investments
+ Accounts & Notes Receiv
+ Accounts Receivable, Net
+ Inventories
+ Raw Materials
+ Work In Process
+ Finished Goods
+ Other Inventory
+ Other ST Assets
+ Prepaid Expenses
+ Derivative & Hedging Assets
+ Misc ST Assets
Total Current Assets
+ Property, Plant & Equip, Net
+ Property, Plant & Equip
- Accumulated Depreciation
+ LT Investments & Receivables
+ LT Receivables
+ Other LT Assets
+ Total Intangible Assets
+ Goodwill
+ Other Intangible Assets
+ Derivative & Hedging Assets
+ Misc LT Assets
Total Noncurrent Assets
Total Assets

Liabilities & Shareholders' Equity

+ Payables & Accruals
+ Accounts Payable
+ Accrued Taxes
+ Interest & Dividends Payable
+ Other Payables & Accruals
+ ST Debt
+ ST Borrowings
+ ST Lease Liabilities
+ ST Finance Leases
 + ST Operating Leases
+ Current Portion of LT Debt
+ Other ST Liabilities
+ Deferred Revenue
+ Derivatives & Hedging
+ Misc ST Liabilities
Total Current Liabilities
+ LT Debt
+ LT Borrowings
+ LT Lease Liabilities
+ LT Finance Leases
+ LT Operating Leases
+ Other LT Liabilities
+ Accrued Liabilities
+ Pension Liabilities
+ Pensions
+ Other Post-Ret Benefits
+ Deferred Revenue
+ Derivatives & Hedging
+ Misc LT Liabilities
Total Noncurrent Liabilities
Total Liabilities
+ Preferred Equity and Hybrid Capital
+ Share Capital & APIC
+ Common Stock
+ Additional Paid in Capital
- Treasury Stock
+ Retained Earnings
+ Other Equity
Equity Before Minority Interest
+ Minority/Non Controlling Interest
Total Equity
Total Liabilities & Equity

Reference Items
Accounting Standard
Shares Outstanding
Number of Treasury Shares
Pension Obligations
Future Minimum Operating Lease Obligations
Capital Leases - Total
Options Granted During Period
Options Outstanding at Period End
Net Debt
Net Debt to Equity
Tangible Common Equity Ratio
Current Ratio
Cash Conversion Cycle
Number of Employees
Source: Bloomberg

Tesla Inc (TSLA US) - Adjusted

In Millions of USD except Per Share
12 Months Ending
Revenue
+ Sales & Services Revenue
+ Other Revenue
- Cost of Revenue
+ Cost of Goods & Services
Gross Profit
- Operating Expenses
+ Selling, General & Admin
+ Research & Development
+ Other Operating Expense
Operating Income (Loss)
- Non-Operating (Income) Loss
+ Interest Expense, Net
+ Interest Expense
- Interest Income
+ Foreign Exch (Gain) Loss
+ (Income) Loss from Affiliates
+ Other Non-Op (Income) Loss
Pretax Income (Loss), Adjusted
- Abnormal Losses (Gains)
+ Merger/Acquisition Expense
+ Disposal of Assets
+ Gain/Loss on Sale/Acquisition of Business
+ Other Abnormal Items
Pretax Income (Loss), GAAP
- Income Tax Expense (Benefit)
+ Current Income Tax
+ Deferred Income Tax
+ Tax Allowance/Credit
Income (Loss) from Cont Ops
- Net Extraordinary Losses (Gains)
+ Discontinued Operations
+ XO & Accounting Changes
Income (Loss) Incl. MI
 - Minority Interest
Net Income, GAAP
- Preferred Dividends
- Other Adjustments
Net Income Avail to Common, GAAP

Net Income Avail to Common, Adj

Net Abnormal Losses (Gains)
Net Extraordinary Losses (Gains)

Basic Weighted Avg Shares

Basic EPS, GAAP
Basic EPS from Cont Ops
Basic EPS from Cont Ops, Adjusted

Diluted Weighted Avg Shares

Diluted EPS, GAAP
Diluted EPS from Cont Ops
Diluted EPS from Cont Ops, Adjusted

Reference Items
Accounting Standard
EBITDA
EBITDA Margin (T12M)
EBITA
EBIT
Gross Margin
Operating Margin
Profit Margin
Sales per Employee
Dividends per Share
Total Cash Common Dividends
Capitalized Interest Expense
Depreciation Expense
Rental Expense
Source: Bloomberg
 FY 2017 FY 2018 FY 2019
12/31/2017 12/31/2018 12/31/2019

C&CE_AND_STI_DETAILED 3,367.9 3,685.6 6,268.0

BS_CASH_NEAR_CASH_ITEM 3,367.9 3,685.6 6,268.0
BS_MKT_SEC_OTHER_ST_INVEST 0.0 0.0 0.0
BS_ACCT_NOTE_RCV 515.4 949.0 1,324.0
BS_ACCTS_REC_EXCL_NOTES_REC 515.4 949.0 1,324.0
BS_INVENTORIES 2,263.5 3,113.4 3,552.0
INVTRY_RAW_MATERIALS 821.4 931.8 1,428.0
INVTRY_IN_PROGRESS 243.2 297.0 362.0
INVTRY_FINISHED_GOODS 1,013.9 1,581.8 1,356.0
BS_OTHER_INV 185.1 302.9 406.0
OTHER_CURRENT_ASSETS_DETAILED 423.7 558.2 959.0
BS_PREPAY 268.4 365.7 713.0
BS_DERIV_&_HEDGING_ASSETS_ST 0.0 0.0 0.0
BS_OTHER_CUR_ASSET_LESS_PREPAY 155.3 192.6 246.0
BS_CUR_ASSET_REPORT 6,570.5 8,306.3 12,103.0
BS_NET_FIX_ASSET 10,027.5 11,330.1 14,061.0
BS_GROSS_FIX_ASSET 11,751.3 14,029.2 17,795.0
BS_ACCUM_DEPR 1,723.8 2,699.1 3,734.0
BS_LT_INVEST 456.7 421.5 393.0
BS_LT_RECEIVABLES 456.7 421.5 393.0
BS_OTHER_ASSETS_DEF_CHRG_OTHER 11,600.7 9,681.7 7,752.0
BS_DISCLOSED_INTANGIBLES 421.7 350.7 537.0
BS_GOODWILL 60.2 68.2 198.0
OTHER_INTANGIBLE_ASSETS_DETAILED 361.5 282.5 339.0
BS_DERIV_&_HEDGING_ASSETS_LT 0.0 0.0 0.0
OTHER_NONCURRENT_ASSETS_DETAILED 11,178.9 9,331.0 7,215.0
BS_TOT_NON_CUR_ASSET 22,084.9 21,433.3 22,206.0
BS_TOT_ASSET 28,655.4 29,739.6 34,309.0

ACCT_PAYABLE_&_ACCRUALS_DETAILED 4,121.6 5,498.7 6,448.0

BS_ACCT_PAYABLE 2,390.3 3,404.5 3,771.0
BS_TAXES_PAYABLE 185.8 348.7 611.0
BS_INTEREST_&_DIVIDENDS_PAYABLE — — 86.0
BS_ACCRUAL 1,545.6 1,745.6 1,980.0
BS_ST_BORROW 796.5 2,567.7 2,013.0
SHORT_TERM_DEBT_DETAILED 0.0 0.0 0.0
ST_CAPITALIZED_LEASE_LIABILITIES 96.7 345.7 614.0
ST_CAPITAL_LEASE_OBLIGATIONS 96.7 345.7 386.0
BS_ST_OPERATING_LEASE_LIABS — — 228.0
BS_CURR_PORTION_LT_DEBT 699.8 2,222.0 1,399.0
OTHER_CURRENT_LIABS_SUB_DETAILED 2,756.5 1,925.7 2,206.0
ST_DEFERRED_REVENUE 1,015.3 630.3 1,163.0
BS_DERIVATIVE_&_HEDGING_LIABS_ST 0.0 0.0 0.0
OTHER_CURRENT_LIABS_DETAILED 1,741.3 1,295.4 1,043.0
BS_CUR_LIAB 7,674.7 9,992.1 10,667.0
BS_LT_BORROW 9,418.2 9,403.7 12,590.0
LONG_TERM_BORROWINGS_DETAILED 8,828.9 8,410.5 10,402.0
LT_CAPITALIZED_LEASE_LIABILITIES 589.3 993.2 2,188.0
LT_CAPITAL_LEASE_OBLIGATIONS 589.3 993.2 1,232.0
BS_LT_OPERATING_LEASE_LIABS — — 956.0
OTHER_NONCUR_LIABS_SUB_DETAILED 5,930.1 4,030.2 2,942.0
BS_ACCRUED_LIABILITIES 0.0 0.0 745.0
PENSION_LIABILITIES 0.0 0.0 0.0
BS_PENSIONS_LT_LIABS 0.0 0.0 0.0
BS_OPRB_LT_LIABS 0.0 0.0 0.0
LT_DEFERRED_REVENUE 1,177.8 990.9 1,207.0
BS_DERIVATIVE_&_HEDGING_LIABS_LT 0.0 0.0 0.0
OTHER_NONCURRENT_LIABS_DETAILED 4,752.3 3,039.3 990.0
NON_CUR_LIAB 15,348.3 13,433.9 15,532.0
BS_TOT_LIAB2 23,023.0 23,426.0 26,199.0
BS_PFD_EQTY_&_HYBRID_CPTL 0.0 0.0 0.0
BS_SH_CAP_AND_APIC 9,178.2 10,249.3 12,737.0
BS_COMMON_STOCK 0.2 0.2 0.2
BS_ADD_PAID_IN_CAP 9,178.0 10,249.1 12,736.8
BS_AMT_OF_TSY_STOCK 0.0 0.0 0.0
BS_PURE_RETAINED_EARNINGS -4,974.3 -5,317.8 -6,083.0
OTHER_EQUITY_RATIO 33.4 -8.2 -36.0
EQTY_BEF_MINORITY_INT_DETAILED 4,237.3 4,923.2 6,618.0
MINORITY_NONCONTROLLING_INTEREST 1,395.1 1,390.4 1,492.0
TOTAL_EQUITY 5,632.4 6,313.6 8,110.0
TOT_LIAB_AND_EQY 28,655.4 29,739.6 34,309.0

ACCOUNTING_STANDARD US GAAP US GAAP US GAAP

BS_SH_OUT 168.8 172.6 181.0
BS_NUM_OF_TSY_SH 0.0 0.0 0.0
BS_PENSION_RSRV 0.0 0.0 0.0
BS_FUTURE_MIN_OPER_LEASE_OBLIG 1,317.2 1,628.2 1,460.0
BS_TOTAL_CAPITAL_LEASES 686.0 1,338.9 1,618.0
BS_OPTIONS_GRANTED 1.2 22.5 1.5
BS_OPTIONS_OUTSTANDING 10.9 31.2 30.0
NET_DEBT 6,846.9 8,285.8 8,335.0
NET_DEBT_TO_SHRHLDR_EQTY 121.56 131.24 102.77
TCE_RATIO 13.51 15.56 18.01
CUR_RATIO 0.86 0.83 1.13
CASH_CONVERSION_CYCLE 18.92 10.90 13.68
NUM_OF_EMPLOYEES 37,543.00 48,817.00 48,016.00

FY 2017 FY 2018 FY 2019 FY 2020 FY 2021

12/31/2017 12/31/2018 12/31/2019
SALES_REV_TURN 11,758.8 21,461.3 24,578.0 24,578.0
IS_SALES_AND_SERVICES_REVENUES 10,642.5 19,906.0 23,047.0
IS_OTHER_REVENUE 1,116.3 1,555.2 1,531.0
IS_COGS_TO_FE_AND_PP_AND_G 9,536.3 17,419.2 20,509.0
IS_COG_AND_SERVICES_SOLD 9,536.3 17,419.2 20,509.0
GROSS_PROFIT 2,222.5 4,042.0 4,069.0
IS_OPERATING_EXPN 3,691.1 4,133.5 3,843.0
IS_SG&A_EXPENSE 2,476.5 2,834.5 2,646.0
IS_OPEX_R&D 1,378.1 1,460.4 1,343.0
IS_OTHER_OPERATING_EXPENSES -163.5 -161.4 -146.0
IS_OPER_INC -1,468.6 -91.5 226.0
IS_NONOP_INCOME_LOSS 576.9 616.7 596.0
IS_NET_INTEREST_EXPENSE 451.6 638.5 641.0
IS_INT_EXPENSE 471.3 663.1 685.0
IS_INT_INC 19.7 24.5 44.0
IS_FOREIGN_EXCH_LOSS -52.3 1.5 -48.0
INCOME_LOSS_FROM_AFFILIATES — — —
IS_OTHER_NON_OPERATING_INC_LOSS 177.7 -23.4 3.0
PRETAX_INC -2,045.5 -708.2 -370.0
IS_ABNORMAL_ITEM 163.5 296.6 295.0
IS_MERGER_ACQUISITION_EXPENSE — — —
IS_GAIN_LOSS_DISPOSAL_ASSETS 105.8 161.4 146.0
IS_SALE_OF_BUSINESS 57.7 — —
IS_OTHER_ONE_TIME_ITEMS — 135.2 149.0
PRETAX_INC -2,209.0 -1,004.7 -665.0
IS_INC_TAX_EXP 31.5 57.8 110.0
IS_CURRENT_INCOME_TAX_BENEFIT 35.2 25.5 91.0
IS_DEFERRED_INCOME_TAX_BENEFIT -3.6 32.3 19.0
IS_TAX_VALN_ALLOWNCE_CREDITS — — —
IS_INC_BEF_XO_ITEM -2,240.6 -1,062.6 -775.0
XO_GL_NET_OF_TAX 0.0 0.0 0.0
IS_DISCONTINUED_OPERATIONS 0.0 0.0 0.0
IS_EXTRAORD_ITEMS_&_ACCTG_CHNG 0.0 0.0 0.0
NI_INCLUDING_MINORITY_INT_RATIO -2,240.6 -1,062.6 -775.0
MIN_NONCONTROL_INTEREST_CREDITS -279.2 -86.5 87.0
NET_INCOME -1,961.4 -976.1 -862.0
IS_TOT_CASH_PFD_DVD 0.0 0.0 0.0
OTHER_ADJUSTMENTS 0.0 0.0 0.0
EARN_FOR_COMMON -1,961.4 -976.1 -862.0

EARN_FOR_COMMON -1,834.9 -741.8 -629.0

IS_NET_ABNORMAL_ITEMS 126.5 234.3 233.1
XO_GL_NET_OF_TAX 0.0 0.0 0.0

IS_AVG_NUM_SH_FOR_EPS 165.8 170.5 177.0

IS_EPS -11.83 -5.72 -4.92
IS_EARN_BEF_XO_ITEMS_PER_SH -11.83 -5.72 -4.92
IS_BASIC_EPS_CONT_OPS -11.07 -4.35 -3.55

IS_SH_FOR_DILUTED_EPS 165.8 170.5 177.0

IS_DILUTED_EPS -11.83 -5.72 -4.92
IS_DIL_EPS_BEF_XO -11.83 -5.72 -4.92
IS_DIL_EPS_CONT_OPS -11.07 -4.35 -3.60

ACCOUNTING_STANDARD US GAAP US GAAP US GAAP

EBITDA 167.4 1,809.6 2,806.0
EBITDA_MARGIN 1.42 8.43 11.42
EBITA -601.9 699.6 1,436.0
EBIT -1,468.6 -91.5 226.0
GROSS_MARGIN 18.90 18.83 16.56
OPER_MARGIN -12.49 -0.43 0.92
PROF_MARGIN -15.60 -3.46 -2.56
ACTUAL_SALES_PER_EMPL 313,207.55 439,626.93 511,871.04
EQY_DPS 0.00 0.00 0.00
IS_TOT_CASH_COM_DVD 0.0 0.0 0.0
IS_CAP_INT_EXP 124.9 54.9 31.0
IS_DEPR_EXP 769.3 1,110.0 1,370.0
BS_CURR_RENTAL_EXPENSE 177.7 182.6 426.0
 Total Assets
18% + Cash, Cash Equivalents & STI
18% + Cash & Cash Equivalents
0% + ST Investments
4% + Accounts & Notes Receiv
4% + Accounts Receivable, Net
10% + Inventories
4% + Raw Materials
1% + Work In Process
4% + Finished Goods
1% + Other Inventory
3% + Other ST Assets
2% + Prepaid Expenses
0% + Derivative & Hedging Assets
1% + Misc ST Assets
35% Total Current Assets
41% + Property, Plant & Equip, Net
52% + Property, Plant & Equip
11% - Accumulated Depreciation
1% + LT Investments & Receivables
1% + LT Receivables
23% + Other LT Assets
2% + Total Intangible Assets
1% + Goodwill
1% + Other Intangible Assets
0% + Derivative & Hedging Assets
21% + Misc LT Assets
65% Total Noncurrent Assets
100% Total Assets

Liabilities & Shareholders' Equity

25% + Payables & Accruals
14% + Accounts Payable
2% + Accrued Taxes
0% + Interest & Dividends Payable
8% + Other Payables & Accruals
8% + ST Debt
0% + ST Borrowings
2% + ST Lease Liabilities
1% + ST Finance Leases
 1% + ST Operating Leases
5% + Current Portion of LT Debt
8% + Other ST Liabilities
4% + Deferred Revenue
0% + Derivatives & Hedging
4% + Misc ST Liabilities
41% Total Current Liabilities
48% + LT Debt
40% + LT Borrowings
8% + LT Lease Liabilities
5% + LT Finance Leases
4% + LT Operating Leases
11% + Other LT Liabilities
3% + Accrued Liabilities
0% + Pension Liabilities
0% + Pensions
0% + Other Post-Ret Benefits
5% + Deferred Revenue
0% + Derivatives & Hedging
4% + Misc LT Liabilities
59% Total Noncurrent Liabilities
76% Total Liabilities
0% + Preferred Equity and Hybrid Capital
37% + Share Capital & APIC
0% + Common Stock
37% + Additional Paid in Capital
0% - Treasury Stock
-18% + Retained Earnings
0% + Other Equity
19% Equity Before Minority Interest
4% + Minority/Non Controlling Interest
24%
100%
 Revenue
+ Sales & Services Revenue
+ Other Revenue
FY 2022 FY 2023 FY 2024 - Cost of Revenue
+ Cost of Goods & Services
Gross Profit
- Operating Expenses
+ Selling, General & Admin
+ Research & Development
+ Other Operating Expense
Operating Income (Loss)
- Non-Operating (Income) Loss
+ Interest Expense, Net
+ Interest Expense
- Interest Income
+ Foreign Exch (Gain) Loss
+ (Income) Loss from Affiliates
+ Other Non-Op (Income) Loss
Pretax Income (Loss), Adjusted
- Abnormal Losses (Gains)
+ Merger/Acquisition Expense
+ Disposal of Assets
+ Gain/Loss on Sale/Acquisition of Business
+ Other Abnormal Items
Pretax Income (Loss), GAAP
- Income Tax Expense (Benefit)
+ Current Income Tax
+ Deferred Income Tax
+ Tax Allowance/Credit
Income (Loss) from Cont Ops
- Net Extraordinary Losses (Gains)
+ Discontinued Operations
+ XO & Accounting Changes
Income (Loss) Incl. MI
- Minority Interest
Net Income, GAAP
- Preferred Dividends
- Other Adjustments
Net Income Avail to Common, GAAP
Net Income Avail to Common, Adj
2020 2021 2022 2023 2024 2025
18%

4%

10%
4%
1%
4%
1%

41%
52%
11%

23%

1%

25%
14%
37%
30%
6%

-18%
2020 2021 2022 2023 2024 2025

6.64% 6.60% 6.60% 6.60% 6.60% 6.60%

80% 79% 79% 78% 78% 77%

14.60% 14% 14.10% 14.20% 14% 14%

9% 8% 8% 8% 8% 8%
4.50% 4% 4% 4% 3.80% 3.80%

3% 3% 3% 2% 2% 1%