Table of ContentsCertain Investigations and Other MattersWe regularly receive requests for information, including subpoenas, from regulators and governmental authorities suchas the National Highway Traffic Safety Administration, the National Transportation Safety Board, the Securities and ExchangeCommission (“SEC”), the Department of Justice (“DOJ”), and various local, state, federal, and international agencies. Theongoing requests for information include topics such as operations, technology (e.g., vehicle functionality, vehicle incidents,Autopilot and FSD Capability), compliance, finance, data privacy, and other matters related to Tesla’s business, its personnel,and related parties. We routinely cooperate with such formal and informal requests for information, investigations, and otherinquiries. To our knowledge no government agency in any ongoing investigation has concluded that any wrongdoing occurred.We cannot predict the outcome or impact of any ongoing matters. Should the government decide to pursue an enforcementaction, there exists the possibility of a material adverse impact on our business, results of operation, prospects, cash flows,financial position or brand.We are also subject to various other legal proceedings, risks and claims that arise from the normal course of businessactivities. For example, during the second quarter of 2023, a foreign news outlet reported that it obtained certainmisappropriated data including, purportedly non-public Tesla business and personal information. Tesla has made notificationsto potentially affected individuals (current and former employees) and regulatory authorities and we are working with certainlaw enforcement and other authorities. On August 5, 2023, a putative class action was filed in the United States District Courtfor the Northern District of California, purportedly on behalf of all U.S. individuals impacted by the data incident, followed byseveral additional lawsuits, that each assert claims under various state laws and seeks monetary damages and other relief. If anunfavorable ruling or development were to occur in these or other possible legal proceedings, risks and claims, there exists thepossibility of a material adverse impact on our business, results of operations, prospects, cash flows, financial position or brand.Note 11 – Variable Interest Entity ArrangementsThe aggregate carrying values of the variable interest entities’ assets and liabilities, after elimination of anyintercompany transactions and balances, in the consolidated balance sheets were as follows (in millions):September 30,2024December 31,2023AssetsCurrent assetsCash and cash equivalents $ 51 $ 66Accounts receivable, net 28 13Prepaid expenses and other current assets263 361Total current assets 342 440Operating lease vehicles, net 451 —Solar energy systems, net 2,524 3,278Other non-current assets190 369Total assets$ 3,507 $ 4,087LiabilitiesCurrent liabilitiesAccrued liabilities and other $ 36 $ 67Deferred revenue 7 6Current portion of debt and finance leases1,930 1,564Total current liabilities 1,973 1,637Deferred revenue, net of current portion 81 99Debt and finance leases, net of current portion1,826 2,041Total liabilities$ 3,880 $ 3,77724
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