Directions
Calculate the cost of each capital component, after-tax cost of debt, cost of preferred, and cost of equity with the DCF method and CAPM method
Tesla, Inc.
Consolidated Balance Sheets
(in millions, except per share data)
	December 31, 2023		December 31, 2022		December 31, 2021
Assets
Current assets
Cash and cash equivalents	16398		16253		17576
Short-term investments	12696		5932		131
Accounts receivable, net	3508		2952		1913
Inventory	13626		12839		5757
Prepaid expenses and other current assets	3388		2941		1723
Total current assets	49616		40917		27100
Operating lease vehicles, net	5989		5035		4511
Solar energy systems, net	5229		5489		5765
Property, plant and equipment, net	29725		23548		18884
Operating lease right-of-use assets	4180		2563		2016
Digital assets, net	184		184		1260
Intangible assets, net	178		215		257
Goodwill	253		194		200
Deferred tax assets	6733		328		0
Other non-current assets	4531		3865		2138
Total assets	106618		82338		62131
Liabilities
Current liabilities
Accounts payable	14431		15255		10025
Accrued liabilities and other	9080		8205		6644
Deferred revenue	2864		1747		1447
Current portion of debt and finance leases	2373		1502		1589
Total current liabilities	28748		26709		19705
Debt and finance leases, net of current portion	2857		1597		5245
Deferred revenue, net of current portion	3251		2804		2052
Other long-term liabilities	8153		5330		3546
Total liabilities	43009		36440		30548
Commitments and contingencies (Note 15)
Redeemable noncontrolling interests in subsidiaries	242		409		568
Equity
Stockholders' equity
Preferred stock; $0.001par value;100shares authorized;noshares issued and outstanding					0
Common stock; $0.001par value;6,000shares authorized;3,185and3,164shares issued and outstanding as of December31, 2023 and 2022, respectively	3		3		3
Additional paid-in capital	34892		32177		29803
Accumulated other comprehensive loss	-143		-361		54
Retained earnings	27882		12885		329
Total stockholders' equity	62634		44704		30189
Noncontrolling interests in subsidiaries	733		785		826
Total liabilities and equity	#########		82,338.00		62,131.00
Tesla, Inc.
Consolidated Statements of Operations
(in millions, except per share data)
	Year Ended December 31,
	2023		2022		2021
Revenues
Automotive sales	78509.00		67210.00		44125.00
Automotive regulatory credits	1790.00		1776.00		1465.00
Automotive leasing	2120.00		2476.00		1642.00
Total automotive revenues	82419.00		71462.00		47232.00
Energy generation and storage	6035.00		3909.00		2789.00
Services and other	8319.00		6091.00		3802.00
Total revenues	96773.00		81462.00		53823.00
Cost of revenues
Automotive sales	65121.00		49599.00		32415.00
Automotive leasing	1268.00		1509.00		978.00
Total automotive cost of revenues	66389.00		51108.00		33393.00
Energy generation and storage	4894.00		3621.00		2918.00
Services and other	7830.00		5880.00		3906.00
Total cost of revenues	79113.00		60609.00		40217.00
Gross profit	17660.00		20853.00		13606.00
Operating expenses
Research and development	3969.00		3075.00		2593.00
Selling, general and administrative	4800.00		3946.00		4517.00
Restructuring and other	0.00		176.00		-27.00
Total operating expenses	8769.00		7197.00		7083.00
Income from operations	8891.00		13656.00		6523.00
Interest income	1066.00		297.00		56.00
Interest expense	-156.00		-191.00		-371.00
Other income (expense), net	172.00		-43.00		135.00
Income before income taxes	9973.00		13719.00		6343.00
(Benefit from) provision for income taxes	-5001.00		1132.00		699.00
Net income	14974.00		12587.00		5644.00
Net (loss) income attributable to noncontrolling interests and redeemable noncontrolling interests in subsidiaries	-23.00		31.00		125.00
Net income attributable to common stockholders	14997.00		12556.00		5519.00
Net income per share of common stock attributable to common stockholders
Basic	4.73		4.02		1.87
Diluted	4.30		3.62		1.63
Weighted average shares used in computing net income per share of common stock
Basic	3,174		3,130		2,959
Diluted	3,485		3,475		3,386