XML 39 R28.htm IDEA: XBRL DOCUMENT v3.23.2
BALANCE SHEETS COMPONENTS (Tables)
 6 Months Ended
Jun. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Schedule of Inventory
Inventory as of June 30, 2023 and December 31, 2022 was as follows (in thousands):
June 30,
2023		December 31,
2022
Raw materials$358,199 $464,731 
Work in progress46,159 34,311 
Finished goods
445,423 335,359 
Total Inventory$849,781 $834,401 
Schedule of Property, Plant and Equipment and Construction in Progress
Property, plant and equipment, net as of June 30, 2023 and December 31, 2022 was as follows (in thousands):
June 30,
2023		December 31,
2022
Land and land improvements$68,373 $64,677 
Building and improvements251,354 197,406 
Machinery, Tooling and Vehicles795,171 743,006 
Computer equipment and software67,270 48,899 
Leasehold improvements207,571 182,904 
Furniture and fixtures31,978 27,803 
Finance leases97,924 97,992 
Construction in progress1,332,611 1,077,179 
Total Property, plant and equipment2,852,252 2,439,866 
Less: accumulated depreciation and amortization(377,688)(273,090)
Property, plant and equipment, net$2,474,564 $2,166,776 
Construction in progress consisted of the following (in thousands):
June 30,
2023		December 31,
2022
Machinery and tooling(1)
$694,757 $515,662 
Construction of AMP-1 and AMP-2(1)
618,681 526,720 
Leasehold improvements19,173 34,797 
Total construction in progress$1,332,611 $1,077,179 
(1) As of June 30, 2023 and December 31, 2022, $83.7 million and $33.3 million of capital expenditure support received from Ministry of Investment of Saudi Arabia (“MISA”) was recorded as a deduction to the AMP-2 construction in progress balance, respectively. See Note 15 “Related Party Transactions” for more information.
Schedule of Other Current Liabilities
Other current liabilities as of June 30, 2023 and December 31, 2022 were as follows (in thousands):
June 30,
2023		December 31,
2022
Engineering, design, and testing accrual$47,498 $28,686 
Construction in progress174,273 167,462 
Accrued purchases(1)
63,907 157,162 
Retail leasehold improvements accrual6,956 9,099 
Third-party services accrual24,453 34,951 
Tooling liability17,416 21,714 
Short-term borrowings13,864 9,595 
Operating lease liabilities, current portion19,135 11,269 
Reserve for loss on firm commitments(2)
84,297 22,640 
Accrued warranty41,556 10,464 
Other current liabilities173,501 161,525 
Total Other current liabilities$666,856 $634,567 
(1) Primarily represent accruals for inventory related purchases and transportation charges that had not been invoiced.
(2) Primarily represent reserve for losses on firm inventory purchase commitments.
Schedule of Other Noncurrent Liabilities
Other long-term liabilities as of June 30, 2023 and December 31, 2022 were as follows (in thousands):
June 30,
2023		December 31,
2022
Operating lease liabilities, net of current portion$250,547 $243,843 
Other long-term liabilities(1)
106,299 134,369 
Total Other long-term liabilities$356,846 $378,212 
(1) As of June 30, 2023 and December 31, 2022, $13.6 million and $64.0 million of capital expenditure support received from MISA was recorded as deferred liability within other long-term liabilities, respectively. See Note 15 “Related Party Transactions” for more information.
Schedule of Accrued Warranty Liability
Accrued warranty activities consisted of the following (in thousands):
Three Months Ended
June 30, 2023		Six Months Ended
June 30, 2023
Accrued warranty - beginning of period$25,875 $22,949 
Warranty costs incurred(11,570)(19,830)
Provision for warranty(1)
47,881 59,067 
Accrued warranty - end of period(2)
$62,186 $62,186 
(1) Accrued warranty balance as of June 30, 2023 included estimated costs related to the recalls identified and special campaigns to repair or replace items under warranties.
(2) Accrued warranty balance of $41.6 million and $20.6 million were recorded within other current liabilities and other long-term liabilities, respectively, on our condensed consolidated balance sheet as of June 30, 2023.