Summary of Significant Accounting Policies (Tables)

3 Months Ended

Mar. 31, 2020

Schedule of Disaggregation of Revenue by Major Source

The following table disaggregates our revenue by major source (in millions):

	Three Months Ended March 31,
	2020		2019
Automotive sales without resale value guarantee	$	4,367	$	3,683
Automotive sales with resale value guarantee (1)		172		(390	)
Automotive regulatory credits		354		216
Energy generation and storage sales		173		212
Services and other		560		493
Total revenues from sales and services		5,626		4,214
Automotive leasing		239		215
Energy generation and storage leasing		120		112
Total revenues	$	5,985	$	4,541

(1)

Due to pricing adjustments we made to our vehicle offerings in the three months ended March 31, 2019, we estimated that there was a greater likelihood that customers would exercise their buyback options and adjusted our sales return reserve on vehicles previously sold under our buyback options program which resulted in a reduction of automotive sales with resale value guarantee of $501 million that did not similarly occur during the three months ended March 31, 2020. The amount presented in the three months ended March 31, 2019 represents automotive sales with resale value guarantee net of such pricing adjustments impact.

Schedule of Computation of Basic and Diluted Net Income (Loss) Per Sale of Common Stock Attributable to Common Stockholders

The following table presents the computation of basic and diluted net income (loss) per share of common stock attributable to common stockholders (in millions, except per share data):

	Three Months Ended March 31,
	2020		2019
Net income (loss) per share of common stock attributable to common stockholders, basic
Net income (loss) attributable to common stockholders	$	16	$	(702	)
Less: Buy-out of noncontrolling interest		—		8
Net income (loss) used in computing net income (loss) per share of common stock, basic		16		(710	)
Weighted average shares used in computing net income (loss) per share of common stock, basic		183		173
Net income (loss) per share of common stock attributable to common stockholders, basic	$	0.09	$	(4.10	)

Net income (loss) per share of common stock attributable to common stockholders, diluted
Net income (loss) attributable to common stockholders	$	16	$	(702	)
Less: Buy-out of noncontrolling interest		—		8
Net income (loss) used in computing net income (loss) per share of common stock, diluted		16		(710	)
Weighted average shares used in computing net income (loss) per share of common stock, basic		183		173
Add:
Stock-based awards		9		—
Convertible senior notes		6		—
Warrants		1		—
Weighted average shares used in computing net income (loss) per share of common stock, diluted		199		173
Net income (loss) per share of common stock attributable to common stockholders, diluted	$	0.08	$	(4.10	)

Schedule of Potentially Dilutive Shares that were Excluded from Computation of Diluted Net Income (Loss) per Share of Common Stock

The following table presents the potentially dilutive shares that were excluded from the computation of diluted net income (loss) per share of common stock attributable to common stockholders, because their effect was anti-dilutive (in millions):

	Three Months Ended March 31,
	2020		2019
Stock-based awards		0		11
Convertible senior notes		0		1

Schedule of Cash and Cash Equivalents and Restricted Cash

Our total cash and cash equivalents and restricted cash, as presented in the consolidated statements of cash flows, was as follows (in millions):

	March 31,		December 31,		March 31,		December 31,
	2020		2019		2019		2018
Cash and cash equivalents	$	8,080	$	6,268	$	2,198	$	3,686
Restricted cash included in prepaid expenses and other current assets		193		246		131		193
Restricted cash included in other non-current assets		274		269		354		398
Total as presented in the consolidated statements of cash flows	$	8,547	$	6,783	$	2,683	$	4,277

Schedule of Accrued Warranty Activity

	Three Months Ended March 31,
	2020			2019
Accrued warranty—beginning of period	$	1,089		$	748
Warranty costs incurred		(81	)		(54	)
Net changes in liability for pre-existing warranties, including expirations and foreign exchange impact		3			38
Provision for warranty		119			112
Accrued warranty—end of period	$	1,130		$	844