Table of ContentsNote 3 – InventoryOur inventory consisted of the following (in millions):September 30,2024December 31,2023Raw materials $ 5,555 $ 5,390Work in process 1,791 2,016Finished goods (1) 5,950 5,049Service parts1,234 1,171Total$ 14,530 $ 13,626(1) Finished goods inventory includes products-in-transit to fulfill customer orders, new vehicles, used vehicles and energyproducts available for sale.We write-down inventory for any excess or obsolete inventory or when we believe that the net realizable value ofinventory is less than the carrying value. During the three and nine months ended September 30, 2024, we recorded write-downs of $46 million and $114 million, respectively, in Cost of revenues in the consolidated statements of operations. Duringthe three and nine months ended September 30, 2023, we recorded write-downs of $43 million and $148 million, respectively,in Cost of revenues in the consolidated statements of operations.Note 4 – Property, Plant and Equipment, NetOur property, plant and equipment, net, consisted of the following (in millions):September 30,2024December 31,2023Machinery, equipment, vehicles and office furniture $ 18,227 $ 16,309Land and buildings 10,680 9,498Leasehold improvements 3,584 3,136Tooling 3,782 3,129Computer equipment, hardware and software 2,818 2,409AI infrastructure 3,693 1,510Construction in progress8,026 5,79150,810 41,782Less: Accumulated depreciation(14,694) (12,057)Total$ 36,116 $ 29,725Construction in progress is primarily comprised of ongoing construction and expansion of our facilities, equipment andtooling related to the manufacturing of our products as well as AI-related assets which have not yet been placed in service.Depreciation expense during the three and nine months ended September 30, 2024 was $1.05 billion and $2.96 billion,respectively. Depreciation expense during the three and nine months ended September 30, 2023 was $897 million and $2.44billion, respectively.17
tsla-20240930https://www.sec.gov/Archives/edgar/data/1318605/00016282802404...
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