Tesla 2014 Annual Report Download - page 87

Table of Contents
additional land at our Fremont factory and a $14.8 million net transfer out of our dedicated DOE account as a result of the termination of our
DOE Loan Facility.
Net cash used in investing activities was $206.9 million during the year ended December 31, 2012 primarily related to $239.2 million in
purchases of capital equipment and tooling, partially offset by a $25.0 million in maturities of short-term marketable securities and an $8.6
million net transfer of cash out of our dedicated DOE account in accordance with the provisions of the DOE Loan Facility.
Net cash used in investing activities was $162.3 million during the year ended December 31, 2011 primarily related to $184.2 million in
purchases of capital equipment and $65.0 million in purchases of short-term marketable securities, partially offset by $50.1 million of net
transfers out of our dedicated DOE account in accordance with the provisions of the DOE Loan Facility and $40.0 million from the maturity of
short-
term marketable securities. The increase in capital purchases was primarily due to significant development and construction activities at the
Tesla Factory as well as purchases of Model S related manufacturing equipment and tooling.
Cash Flows from Financing Activities
Net cash provided by financing activities was $635.4 million during the year ended December 31, 2013 and was comprised primarily of
$660.0 million from our Notes offering in May 2013, $415.0 million received from our public offering of common stock and concurrent private
placement completed in May 2013, $120.3 million from the sale of warrants as part of our bond hedge and warrant transactions executed in May
2013, and $95.3 million received from the exercise of common stock options by employees and the purchase of common stock under our
employee stock purchase plan; partially offset by $452.3 million related to our repayment of all outstanding loan principal under the DOE Loan
Facility, $177.5 million related to the purchase of convertible note hedges as part of our bond hedge and warrant transactions executed in May
2013, $16.9 million of Notes and common stock issuance costs and $8.4 million related to principal payments on our capital leases.
Net cash provided by financing activities was $419.6 million during the year ended December 31, 2012 and was comprised primarily of
$221.5 million received from our follow-on public offering completed in October 2012, $188.8 million received from our draw-downs under the
DOE Loan Facility and $24.9 million received from the exercise of common stock options by employees and the purchase of common stock
under our employee stock purchase plan, partially offset by $12.7 million related to our first quarterly repayment of principal related to our loans
under the DOE Loan Facility, and $2.8 million related to principal repayments on capital leases.
Net cash provided by financing activities was $446.0 million during the year ended December 31, 2011 and was comprised primarily of
$231.5 million received from our follow-on public offering and concurrent private placements completed in June 2011, $204.4 million received
from our draw-
downs under the DOE Loan Facility and $10.5 million received from the exercise of common stock options by employees and the
purchase of common stock under our employee stock purchase plan.
Contractual Obligations
The following table sets forth, as of December 31, 2013 certain significant cash obligations that will affect our future liquidity (in
thousands):
86
Year Ended December 31,
Total
2014
2015
2016
2017
2018 and
thereafter
Operating lease obligations
$
161,488
$
27,004
$
27,372
$
26,621
$
24,706
$
55,785
Capital lease obligations
21,790
8,927
7,752
4,512
595
4
Convertible debt
704,536
10,102
9,897
9,897
9,897
664,743
Total
$
887,814
$
46,033
$
45,021
$
41,030
$
35,198
$
720,532