XML 42 R28.htm IDEA: XBRL DOCUMENT v3.23.3
BALANCE SHEETS COMPONENTS (Tables)
9 Months Ended
Sep. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Schedule of Inventory
Inventory as of September 30, 2023 and December 31, 2022 was as follows (in thousands):
September 30,
2023
December 31,
2022
Raw materials$315,887 $464,731 
Work in progress96,879 34,311 
Finished goods
386,208 335,359 
Total Inventory$798,974 $834,401 
Schedule of Property, Plant and Equipment, Net and Construction in Progress
Property, plant and equipment, net as of September 30, 2023 and December 31, 2022 was as follows (in thousands):
September 30,
2023
December 31,
2022
Land and land improvements$69,718 $64,677 
Building and improvements(1)
564,576 197,406 
Machinery, Tooling and Vehicles(2)
957,243 743,006 
Computer equipment and software70,311 48,899 
Leasehold improvements213,112 182,904 
Furniture and fixtures43,706 27,803 
Finance leases96,425 97,992 
Construction in progress1,094,280 1,077,179 
Total Property, plant and equipment3,109,371 2,439,866 
Less: accumulated depreciation and amortization(436,314)(273,090)
Property, plant and equipment, net$2,673,057 $2,166,776 
(1) As of September 30, 2023, $97.3 million of capital expenditure support received from Ministry of Investment of Saudi Arabia (“MISA”) was primarily recorded as a deduction to the AMP-2 building balance. See Note 15 “Related Party Transactions” for more information.
(2) Included $31.7 million of service loaner vehicles as of September 30, 2023.
Construction in progress consisted of the following (in thousands):
September 30,
2023
December 31,
2022
Machinery and tooling(1)
$687,534 $515,662 
Construction of AMP-1 and AMP-2(1)
386,825 526,720 
Leasehold improvements19,921 34,797 
Total construction in progress$1,094,280 $1,077,179 
(1) As of December 31, 2022, $33.3 million of capital expenditure support received from MISA was recorded as a deduction to the AMP-2 construction in progress balance. See Note 15 “Related Party Transactions” for more information.
Schedule of Other Current Liabilities
Other current liabilities as of September 30, 2023 and December 31, 2022 were as follows (in thousands):
September 30,
2023
December 31,
2022
Engineering, design, and testing accrual$49,270 $28,686 
Construction in progress220,741 167,462 
Accrued purchases(1)
66,927 157,162 
Retail leasehold improvements accrual9,770 9,099 
Third-party services accrual29,433 34,951 
Tooling liability37,491 21,714 
Short-term borrowings52,526 9,595 
Operating lease liabilities, current portion24,925 11,269 
Reserve for loss on firm inventory purchase commitments
155,029 22,640 
Accrued warranty33,497 10,464 
Other current liabilities183,143 161,525 
Total Other current liabilities$862,752 $634,567 
(1) Primarily represent accruals for inventory related purchases and transportation charges that had not been invoiced.
Schedule of Other Long-Term Liabilities
Other long-term liabilities as of September 30, 2023 and December 31, 2022 were as follows (in thousands):
September 30,
2023
December 31,
2022
Operating lease liabilities, net of current portion$246,818 $243,843 
Other long-term liabilities(1)
98,906 134,369 
Total Other long-term liabilities$345,724 $378,212 
(1) As of December 31, 2022, $64.0 million of capital expenditure support received from MISA was recorded as deferred liability within other long-term liabilities. See Note 15 “Related Party Transactions” for more information.
Schedule of Accrued Warranty Activities
Accrued warranty activities consisted of the following (in thousands):
Three Months Ended September 30,Nine Months Ended September 30,
2023202220232022
Accrued warranty - beginning of period(1)
$62,186 $8,311 $22,949 $1,282 
Warranty costs incurred(13,929)(3,501)(33,759)(5,256)
Provision for warranty(2)
7,054 8,815 66,121 17,599 
Accrued warranty - end of period(1)
$55,311 $13,625 $55,311 $13,625 
(1) Accrued warranty balance of $33.5 million and $10.4 million, respectively, was recorded within other current liabilities, and $21.8 million and $12.5 million, respectively, was recorded within other long-term liabilities, in the condensed consolidated balance sheets as of September 30, 2023 and December 31, 2022.
(2) Provision for warranty for the three and nine months ended September 30, 2023 and 2022 included estimated costs related to the recalls identified and/or special campaigns to repair or replace items under warranties.