Tesla 2015 Annual Report Download - page 67

Tesla Motors, Inc.
Consolidated Statements of Cash Flows
(in thousands)
The accompanying notes are an integral part of these consolidated financial statements.
66
Year Ended December 31,
2014 2013 2012
Cash Flows From Operating Activities
Net loss
$
(294,040
)
$
(74,014
)
$
(396,213
)
Adjustments to reconcile net loss to net cash provided by (used in)
operating activities:
Depreciation and amortization
231,931
106,083
28,825
Stock
-
based compensation
156,496
80,737
50,145
Amortization of discount on convertible debt
69,734
9,143
—
Inventory write
-
downs
15,609
8,918
4,929
Amortization of Department of Energy (DOE) loan origination costs
—
5,558
—
Change in fair value of DOE warrant liability
—
(
10,692
)
1,854
Fixed asset disposal
14,178
1,796
154
Other non
-
cash operating activities
7,471
1,815
1,406
Foreign currency transaction (gain) loss
(1,891
)
(13,498
)
143
Changes in operating assets and liabilities
Accounts receivable
(183,658
)
(21,705
)
(17,303
)
Inventories and operating lease vehicles
(1,050,264
)
(460,561
)
(194,726
)
Prepaid expenses and other current assets
(60,637
)
(17,533
)
1,121
Other assets
(4,493
)
(434
)
(482
)
Accounts payable
252,781
20,995
189,944
Accrued liabilities
162,075
66,418
9,603
Deferred revenue
209,681
268,098
(526
)
Customer deposits
106,230
24,354
47,056
Resale value guarantee
249,492
236,299
—
Other long
-
term liabilities
61,968
33,027
10,255
Net cash provided by (used in) operating activities
(57,337
)
264,804
(263,815
)
Cash Flows From Investing Activities
Purchases of property and equipment excluding capital leases
(969,885
)
(264,224
)
(239,228
)
Withdrawals out of our dedicated DOE account, net
—
14,752
8,620
(Increase) decrease in other restricted cash
(3,849
)
55
(1,330
)
Purchases of short
-
term marketable securities
(205,841
)
—
(
14,992
)
Maturities of short
-
term marketable securities
189,131
—
40,000
Net cash used in investing activities
(990,444
)
(249,417
)
(206,930
)
Cash Flows From Financing Activities
Proceeds from issuance of convertible debt
2,300,000
660,000
—
Proceeds from issuance of common stock in public offering
—
360,000
221,496
Proceeds from issuance of warrants
389,160
120,318
—
Proceeds from exercise of stock options and other stock issuances
100,455
95,307
24,885
Proceeds from issuance of common stock in private placement
—
55,000
—
Principal payments on DOE loans
—
(
452,337
)
(12,710
)
Purchase of convertible note hedges
(603,428
)
(177,540
)
—
Common stock and convertible debt issuance costs
(35,149
)
(16,901
)
—
Principal payments on capital leases and other debt
(11,179
)
(8,425
)
(2,832
)
Collateralized lease borrowing
3,271
—
—
Proceeds from DOE loans
—
—
188,796
Net cash provided by financing activities
2,143,130
635,422
419,635
Effect of exchange rate changes on cash and cash equivalents
(35,525
)
(6,810
)
(2,266
)
Net increase (decrease) in cash and cash equivalents
1,059,824
643,999
(53,376
)
Cash and cash equivalents at beginning of period
845,889
201,890
255,266
Cash and cash equivalents at end of period
$
1,905,713
$
845,889
$
201,890
Supplemental Disclosures
Interest paid
$
20,539
$
9,041
$
6,938
Income taxes paid
3,120
257
117
Supplemental noncash investing activities
Acquisition of property and equipment included in accounts payable
and accrued liabilities
254,393
38,789
44,890
Estimated fair market value of facilities under build
-
to
-
suit lease
50,076
—
—