Table of ContentsEnergy Generation and Storage SegmentEnergy Generation and Storage SalesWe record as deferred revenue any non-refundable amounts that are collected from customers related to prepayments,which is recognized as revenue ratably over the respective customer contract term. As of September 30, 2024 andDecember 31, 2023, deferred revenue related to such customer payments amounted to $1.73 billion and $1.60 billion,respectively, mainly due to contractual payment terms. Revenue recognized from the deferred revenue balances as ofDecember 31, 2023 and 2022 was $1.09 billion and $511 million for the nine months ended September 30, 2024 and 2023,respectively. As of September 30, 2024, total transaction price allocated to performance obligations that were unsatisfied orpartially unsatisfied for contracts with an original expected length of more than one year was $6.61 billion. Of this amount, weexpect to recognize $4.23 billion in the next 12 months and the rest over the remaining performance obligation period.We have financing receivables on our consolidated balance sheets related to loans we provide for financing our energyproducts. As of September 30, 2024 and December 31, 2023, we had current net financing receivables of $32 million and $31million, respectively, in Accounts receivable, net, and $641 million and $578 million, respectively, in Other non-current assetsfor the long-term portion.Income TaxesWe are subject to income taxes in the U.S. and in many foreign jurisdictions. Significant judgment is required indetermining our provision for income taxes, our deferred tax assets and liabilities and any valuation allowance recorded againstour net deferred tax assets that are not more likely than not to be realized. We monitor the realizability of our deferred tax assetstaking into account all relevant factors at each reporting period. In completing our assessment of realizability of our deferredtax assets, we consider our history of income (loss) measured at pre-tax income (loss) adjusted for permanent book-taxdifferences on a jurisdictional basis, volatility in actual earnings, excess tax benefits related to stock-based compensation inrecent prior years and impacts of the timing of reversal of existing temporary differences. We also rely on our assessment of theCompany’s projected future results of business operations, including uncertainty in future operating results relative to historicalresults, volatility in the market price of our common stock and its performance over time, variable macroeconomic conditionsimpacting our ability to forecast future taxable income, and changes in business that may affect the existence and magnitude offuture taxable income. Our valuation allowance assessment is based on our best estimate of future results considering allavailable information.Our provision for or benefit from income taxes for interim periods is determined using an estimate of our annualeffective tax rate, adjusted for discrete items, if any, that are taken into account in the relevant period. Each quarter, we updateour estimate of the annual effective tax rate, and if our estimated tax rate changes, we make a cumulative adjustment.Net Income per Share of Common Stock Attributable to Common StockholdersThe following table presents the reconciliation of net income attributable to common stockholders to net income used incomputing basic and diluted net income per share of common stock (in millions):Three Months Ended September 30, Nine Months Ended September 30,2024 2023 2024 2023Net income attributable to common stockholders $ 2,167 $ 1,853 $ 4,774 $ 7,069Less: Buy-outs of noncontrolling interest— 2 (42) (3)Net income used in computing basic and diluted netincome per share of common stock$ 2,167 $ 1,851 $ 4,816 $ 7,07212
tsla-20240930https://www.sec.gov/Archives/edgar/data/1318605/00016282802404...
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