Tesla 2016 Annual Report Download - page 32

I TEM 6. SELECTED CONSOLIDATED FINANCIAL DATA
Thefollowingselectedconsolidatedfinancialdatashouldbereadinconjunctionwith“Management’sDiscussionandAnalysisofFinancialConditionand
ResultsofOperations”andourconsolidatedfinancialstatementsandtherelatednotesincludedelsewhereinthisAnnualReportonForm10-K.
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 Year Ended December 31,
2015 2014 2013 2012 2011
(in thousands, except per share data)
Consolidated Statements of Operations Data:            
Totalrevenues  $ 4,046,025  $ 3,198,356 $ 2,013,496 $ 413,256 $ 204,242
Grossprofit   923,503   881,671  456,262  30,067  61,595
Lossfromoperations   (716,629)   (186,689)  (61,283)  (394,283)  (251,488)
Netloss  $ (888,663)  $ (294,040) $ (74,014) $ (396,213) $ (254,411)
Netlosspershareofcommonstock,basicand
diluted(1)  $ (6.93)  $ (2.36) $ (0.62) $ (3.69) $ (2.53)
Weightedaveragesharesusedincomputing
netlosspershareofcommonstock,
basicanddiluted(1)   128,202   124,539  119,421  107,349  100,389
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(1) Dilutednetlosspershareofcommonstockiscomputedexcludingcommonstocksubjecttorepurchase,and,ifdilutive,potentialsharesofcommonstock
outstandingduringtheperiod.Potentialsharesofcommonstockconsistofstockoptionstopurchasesharesofourcommonstock,theconversionofour
convertibleseniornotes(usingthetreasurystockmethod),warrantstopurchasesharesofourcommonstockissuedinconnectionwithour2018Notes,
2019Notes,and2021Notes(usingthetreasurystockmethod),warrantstopurchasesharesofourconvertiblepreferredstock(usingthetreasurystock
method)andtheconversionofourconvertiblepreferredstockandconvertiblenotespayable(usingtheif-convertedmethod).Forpurposesofthese
calculations,potentialsharesofcommonstockhavebeenexcludedfromthecalculationofdilutednetlosspershareofcommonstockastheireffectis
antidilutivesincewegeneratedanetlossineachperiod.
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 As of December 31,
2015 2014 2013 2012 2011
Consolidated Balance Sheet Data:             
Workingcapital(deficit)(3)  $ (24,706)  $ 1,072,907  $ 585,665  $ (14,340)  $ 181,499
Totalassets   8,092,460   5,830,667   2,411,816   1,114,190   713,448
Totallong-termobligations(1)(2)   4,145,197   2,753,595   1,069,535   450,382   298,064
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(1) InMay2013,weissued$660.0millionaggregateprincipalamountof2018Notesinapublicoffering.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equity.Duringthefourthquarterof2015,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2018Notesmay
converttheirnotesduringthefirstquarterof2016.Assuch,weclassifiedthe$617.7millioncarryingvalueofour2018Notesascurrentliabilitiesonour
condensedconsolidatedbalancesheetasofDecember31,2015.
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.InApril2014,weissuedanadditional$120.0millionaggregateprincipal
amountof2019Notesand$180.0millionaggregateprincipalamountof2021Notes,pursuanttotheexerciseinfulloftheoverallotmentoptionsofthe
underwritersofourMarch2014publicoffering.Inaccordancewithaccountingguidanceonembeddedconversionfeatures,wevaluedandbifurcatedthe
conversionoptionassociatedwiththenotesfromthehostdebtinstrumentandrecordedtheconversionoptionof$188.1millionforthe2019Notesand
$369.4millionforthe2021Notesinstockholders’equityasofDecember31,2014
(2) AsofAugust31,2012,wehadfullydrawndownour$465.0millionunderourDOEloanfacility.InMay2013,weusedaportionoftheNotesoffering
proceedstorepayalloutstandingloanamountsundertheDOELoanFacility.
(3) InNovember2015,theFASBissuedAccountingStandardsUpdateNo.2015-17,IncomeTaxes(Topic740):BalanceSheetClassificationofDeferred
Taxes(ASU2015-17),whichsimplifiesthepresentationofdeferredincometaxesbyrequiringthatdeferredtaxassetsandliabilitiesbeclassifiedas
noncurrentonthebalancesheet.Wehaveretrospectivelyadoptedthisstandardandreclassifiedallofourcurrentdeferredtaxassetstononcurrentdeferred
taxassetsonourconsolidatedbalancesheetsdataforallperiodspresented.Asaresultofthereclassifications,certainnoncurrentdeferredtaxliabilities
werenettedwithnoncurrentdeferredtaxassetsforallperiodspresented.
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