v3.25.1
Summary of Significant Accounting Policies (Tables)
 3 Months Ended
Mar. 31, 2025
Accounting Policies [Abstract]  
Schedule of Disaggregation of Revenue by Major Source
The following table disaggregates our revenue by major source (in millions):
 Three Months Ended March 31,
 20252024
Automotive sales$12,925 $16,460 
Automotive regulatory credits595 442 
Energy generation and storage sales2,621 1,522 
Services and other2,638 2,288 
Total revenues from sales and services18,779 20,712 
Automotive leasing447 476 
Energy generation and storage leasing109 113 
Total revenues$19,335 $21,301 
Sales-type and Direct Financing Leases, Lease Receivables, Gross Difference
Lease receivables relating to sales-type leases are presented on the consolidated balance sheets as follows (in millions):
 March 31, 2025December 31, 2024
Gross lease receivables$430 $484 
Unearned interest income(31)(38)
Allowance for expected credit losses(6)(6)
Net investment in sales-type leases$393 $440 
Reported as:
Prepaid expenses and other current assets$151 $152 
Other non-current assets242 288 
Net investment in sales-type leases$393 $440 
Schedule of Net Income per Share of Common Stock Attributable to Common Stockholders
The following table presents the reconciliation of net income attributable to common stockholders to net income used in computing basic and diluted net income per share of common stock (in millions):
Three Months Ended March 31,
20252024
Net income attributable to common stockholders (1)$409 $1,390 
Less: Buy-outs of noncontrolling interest— (42)
Net income used in computing basic and diluted net income per share of common stock$409 $1,432 
(1)As a result of the adoption of ASU No. 2023-08, Accounting for and Disclosure of Crypto Assets, the previously reported quarterly period in 2024 has been recast. See Recent Accounting Pronouncements below for further details.
The following table presents the reconciliation of basic to diluted weighted average shares used in computing net income per share of common stock attributable to common stockholders (in millions):
Three Months Ended March 31,
20252024
Weighted average shares used in computing net income per share of common stock, basic3,2183,186
Add:
Stock-based awards303286
Convertible senior notes— 1
Warrants— 11
Weighted average shares used in computing net income per share of common stock, diluted3,5213,484
Schedule of Potentially Dilutive Shares that were Excluded from Computation of Diluted Net Income per Share of Common Stock
The following table presents the potentially dilutive shares that were excluded from the computation of diluted net income per share of common stock attributable to common stockholders, because their effect was anti-dilutive (in millions):
Three Months Ended March 31,
20252024
Stock-based awards1323
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,
2025		December 31,
2024		March 31,
2024		December 31,
2023
Cash and cash equivalents$16,352 $16,139 $11,805 $16,398 
Restricted cash included in prepaid expenses and other current assets415 494 363 543 
Restricted cash included in other non-current assets483 404 296 248 
Total as presented in the consolidated statements of cash flows$17,250 $17,037 $12,464 $17,189 
Schedule of Accrued Warranty Activity
Accrued warranty activity consisted of the following (in millions):
Three Months Ended March 31,
20252024
Accrued warranty - beginning of period$6,716 $5,152 
Warranty costs incurred(392)(328)
Net changes in liability for pre-existing warranties, including expirations and foreign exchange impact347 (18)
Provision for warranty543 547 
Accrued warranty - end of period$7,214 $5,353 
Schedule of Operations for the Adoption of the ASU The following table presents the effects of these changes on the Company’s consolidated financial statements:
 As of March 31, 2024
Consolidated Balance Sheets (unaudited):As Previously ReportedAdjustments from Adoption of the New Crypto Assets StandardAs Adjusted
Assets
Digital assets, net$184 $638 $822 
Deferred tax assets$6,769 $(141)$6,628 
Stockholders' equity
Retained earnings$29,011 $497 $29,508 
 Three Months Ended March 31, 2024
Condensed Consolidated Statements of Operations (unaudited):As Previously ReportedAdjustments from Adoption of the New Crypto Assets StandardAs Adjusted
Other income (expense), net$108 $335 $443 
Provision for income taxes$409 $74 $483 
Net income attributable to common stockholders$1,129 $261 $1,390 
Net income per share attributable to common stockholders:
Basic$0.37 $0.08 $0.45 
Diluted$0.34 $0.07 $0.41