Tesla 2014 Annual Report Download - page 118
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Table of Contents
The components of the provision for income taxes for the years ended December 31, 2013, 2012 and 2011, consisted of the following (in
thousands):
Deferred tax assets (liabilities) as of December 31, 2013 and 2012 consisted of the following (in thousands):
We have revised our deferred tax assets as of December 31, 2012 to correct immaterial errors. Such revisions did not change the amount of
deferred tax assets, net of valuation allowance and deferred tax liabilities presented in the prior year.
117
Year Ended December 31,
2013
2012
2011
Current:
Federal
$
—
$
—
$
—
State
178
23
29
Foreign
2,349
282
437
Total current
2,527
305
466
Deferred:
Federal
—
—
—
State
—
—
—
Foreign
61
(169
)
23
Total deferred
61
(169
)
23
Total provision for income taxes
$
2,588
$
136
$
489
December 31,
2013
December 31,
2012
Deferred tax assets:
Net operating loss carry
-
forwards
$
341,172
$
365,472
Research and development credits
32,175
21,427
Other tax credits
166
120
Deferred revenue
42,491
719
Inventory and warranty reserves
23,260
8,272
Depreciation and amortization
68
74
Stock
-
based compensation
27,663
18,135
Convertible debt
22,930
—
Accruals and others
21,795
5,314
Total deferred tax assets
511,720
419,533
Valuation allowance
(472,375
)
(403,006
)
Deferred tax assets, net of valutaion allowance
39,345
16,527
Deferred tax liabilities:
Section 481(a) and others
—
(
400
)
Depreciation and amortization
(39,244
)
(15,961
)
Total deferred tax liabilities
(39,244
)
(16,361
)
Deferred tax assets, net of valuation allowance and deferred tax liabilities
$
101
$
166