Commitments and Contingencies

3 Months Ended

Mar. 31, 2022

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies

Commitments and Contingencies

Purchase Commitments

As of March 31, 2022, the Company had outstanding inventory and other purchase commitments of $2.2 billion.

Letters of Credit

As of March 31, 2022, the Company had letters of credit outstanding totaling $14.6 million, which will expire over various dates in 2022 and 2023.

Legal Proceedings

The Company accrues contingent liabilities when it is probable that future expenditures will be made and such expenditures can be reasonably estimated. From time to time in the normal course of business, various claims and litigation have been asserted or commenced. Due to uncertainties inherent in litigation and other claims, the Company can give no assurance that it will prevail in any such matters, which could subject the Company to significant liability or damages. Any claims or litigation could have an adverse effect on the Company’s business, financial position, operating results, or cash flows in or following the period that claims or litigation are resolved.

As of March 31, 2022 and December 31, 2021, the Company was not a party to any legal proceedings that would have a material adverse effect on its business.