
	June 30, 2024		December 31, 2023
Raw materials	$	157,605	$	210,283
Work in progress	68,199		53,227
Finished goods	284,084		432,726
Total Inventory	$	509,888	$	696,236

Inventory as of June 30, 2024 and December 31, 2023 was comprised of raw materials, work in progress related to the production of vehicles for sale and SKD units for final assembly in Saudi Arabia, and finished goods inventory including new vehicles available for sale, vehicles in transit to fulfill customer orders, and internally used vehicles which the Company intends to sell. The Company recorded write-downs of $154.2 million and $292.0 million, respectively, for the three and six months ended June 30, 2024, and $295.0 million and $522.0 million, respectively, for the same periods in the prior year, to reduce its inventories to its net realizable values and for any excess or obsolete inventories, as well as losses from firm purchase commitments.


	June 30, 2024		December 31, 2023
Land and land improvements	$	69,718	$	69,718
Building and improvements(1)	662,401		576,097
Machinery, tooling and vehicles(2)	1,101,630		1,045,485
Computer equipment and software	85,037		74,336
Leasehold improvements	242,297		221,619
Furniture and fixtures	47,018		45,315
Finance leases	90,499		94,285
Construction in progress	1,399,601		1,185,413
Total Property, plant and equipment	3,698,201		3,312,268
Less accumulated depreciation and amortization	(632,490)		(501,401)
Property, plant and equipment, net	$	3,065,711	$	2,810,867

(1) As of June 30, 2024 and December 31, 2023, $125.1 million and $120.2 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, respectively. See Note 16 “Related Party Transactions” for more information.

Construction in progress represents the costs incurred in connection with the construction of buildings or new additions to the Company’s plant facilities, including tooling with outside vendors. Costs classified as construction in progress include all costs of obtaining the asset, installation of the asset, and bringing it to the location and the condition necessary for its intended use. No depreciation is provided for construction in progress until such time as the asset is completed and is ready for its intended use. Construction in progress consisted of the following (in thousands):


	June 30, 2024		December 31, 2023
Machinery and tooling	$	946,708	$	728,751
Construction of AMP-1 and AMP-2(1)	434,655		430,878
Leasehold improvements	18,238		25,784
Total construction in progress	$	1,399,601	$	1,185,413

(1) As of June 30, 2024 and December 31, 2023, $39.9 million and $12.1 million, of capital expenditure support received from MISA was recorded primarily as a deduction to the AMP-2 facility construction in progress balance, respectively. See Note 16 “Related Party Transactions” for more information.

Depreciation and amortization expense was $66.2 million and $135.0 million, respectively, for the three and six months ended June 30, 2024, and $55.4 million and $105.2 million, respectively, for the same periods in the prior year. The amount of interest capitalized on construction in progress related to significant capital asset construction was immaterial for the three and six months ended June 30, 2024 and 2023.


	June 30, 2024		December 31, 2023
Engineering, design, and testing accrual	$	52,977	$	42,176
Construction in progress	103,832		156,414
Accrued purchases(1)	38,210		44,957
Retail leasehold improvements accrual	4,190		6,005
Third-party services accrual	36,025		41,478
Tooling liability	86,075		49,925
Short-term borrowings	68,238		72,533
Operating lease liabilities, current portion	30,228		28,431
Reserve for loss on firm inventory purchase commitments	140,605		143,566
Accrued warranty	14,922		22,677
Other current liabilities	177,477		190,828
Total other current liabilities	$	752,779	$	798,990

Other long-term liabilities as of June 30, 2024 and December 31, 2023 were as follows (in thousands):


	June 30, 2024		December 31, 2023
Operating lease liabilities, net of current portion	$	234,358	$	244,122
Other long-term liabilities(1)(2)	321,565		280,217
Total other long-term liabilities	$	555,923	$	524,339

(1) As of June 30, 2024 and December 31, 2023, $67.7 million and $62.5 million of capital expenditure support received from MISA was recorded as deferred liability within other long-term liabilities in the condensed consolidated balance sheets, respectively. See Note 16 “Related Party Transactions” for more information.

(2) As of June 30, 2024 and December 31, 2023, $109.9 million and $107.8 million of deferred revenue was recorded within other long-term liabilities in the condensed consolidated balance sheets, respectively, in connection with the strategic technology and supply arrangement, and integration and supply arrangements with Aston Martin Lagonda Global Holdings plc (together with its subsidiaries, “Aston Martin”). See Note 16 “Related Party Transactions” for more information.


	Three Months Ended June 30,				Six Months Ended June 30,
	2024		2023		2024		2023
Accrued warranty - beginning of period(2)	$	48,163	$	25,875	$	46,076	$	22,949
Warranty costs incurred	(17,818)		(11,570)		(35,886)		(19,830)
Provision for warranty(1)	48,151		47,881		68,306		59,067
Accrued warranty - end of period(2)	$	78,496	$	62,186	$	78,496	$	62,186

(1) Provision for warranty for the three and six months ended June 30, 2024 and 2023 included estimated costs related to the recalls identified and/or special campaigns to repair or replace items under warranties. During the three and six months ended June 30, 2024, the Company recorded $30.7 million and $41.5 million provision associated with a special warranty campaign, respectively.

(2) Accrued warranty balance of $14.9 million and $22.7 million, respectively, was recorded within other current liabilities, and $63.6 million and $23.4 million, respectively, was recorded within other long-term liabilities, in the condensed consolidated balance sheets as of June 30, 2024 and December 31, 2023.