See Guidelines and Rubric for instructions. Use the Module Six Assignment Template to complete the assignment. Complete 24-month Pro Forma for Tesla Energy Operations Inc., using 10-K, (Energy Generation and Storage Segments) also attached. Then write one paragraph explaining assumptions.
11/30/22, 6:52 PM Module Six Assignment Guidelines and Rubric - BUS-400-T2417 Driving Business Opportunities 22EW2 https://learn.snhu.edu/d2l/le/content/1192074/viewContent/20810084/View 1/2 Overview Crea�vity and diversity can lead to outcomes that both maximize profit and enhance social well-being. Business leaders use measurable factors to help determine design and development decisions, “go” or “no-go” milestones, financial models, and many “what if” scenarios. In this process, the new product or service is considered as part of a system. Scenario You rocked your BMC and received a great response from the experienced project manager (PM). As you read the feedback, you realize that it’s now �me to develop the financial component. In the comments, the PM also stated that no ma�er how good an idea is, to senior management, it’s a “no-go” if the new product or service does not produce sales. In prepara�on for your funding pitch, which you will submit as your course project in Module Seven, the PM also warns that funding pitches are quick and decisive. Including too much informa�on could overwhelm senior management, cause more ques�ons, and erode the purpose of the funding pitch. Prompt The PM’s direc�ve at this point is for you to develop a 24-month pro forma that demonstrates the poten�al profitability of the new product or service in an income statement. You will use the Module Six Assignment Template linked in the Guidelines for Submission sec�on to complete this assignment. You may use the current company’s income statement to project what can be added to the company’s profitability. This can be found in the company’s 10-K. Look to other companies in the marketplace with products or services similar to the one you are proposing as a basis for your projec�ons. Addi�onally, you may use the company’s current year numbers and key assump�ons based on your analysis of the market to project into the future. Remember, these numbers are purely specula�ve. In the template, you will specifically address the following: Previous fiscal year: Iden�fy historical informa�on for the previous fiscal year. 24-month projec�ons: Speculate projec�ons for 24 months. Explana�on of assump�ons: Explain how you were able to speculate appropriate assump�ons. Guidelines for Submission Submit the completed Module Six Assignment Template Word Document as a Word document. Sources should be cited according to APA style. Module Six Assignment Rubric Criteria Exemplary (100%) Proficient (85%) Needs Improvement (55%) Not Evident (0%) Value Previous Fiscal Year Exceeds proficiency in an excep�onally clear, insigh�ul, sophis�cated, or crea�ve manner Iden�fies historical informa�on from the previous fiscal year Shows progress toward proficiency, but with errors or omissions; areas for improvement may include missing or incorrect informa�on Does not a�empt criterion 20 https://learn.snhu.edu/content/enforced/1192074-BUS-400-T2417-OL-TRAD-UG.22EW2/Course%20Documents/BUS%20400%20Module%20Six%20Assignment%20Template.docx?_&d2lSessionVal=BHqqld3UsCY7EPjtm6tFUjpwK&ou=1192074 https://app.readspeaker.com/cgi-bin/rsent?customerid=9568&url=https%3A%2F%2Flearn.snhu.edu%2Fcontent%2Fenforced%2F1192074-BUS-400-T2417-OL-TRAD-UG.22EW2%2FModule%2520Six%2520Assignment%2520Placeholder.html&lang=en_us&readid=d2l_read_element_1 11/30/22, 6:52 PM Module Six Assignment Guidelines and Rubric - BUS-400-T2417 Driving Business Opportunities 22EW2 https://learn.snhu.edu/d2l/le/content/1192074/viewContent/20810084/View 2/2 Criteria Exemplary (100%) Proficient (85%) Needs Improvement (55%) Not Evident (0%) Value 24-Month Projec�ons Exceeds proficiency in an excep�onally clear, insigh�ul, sophis�cated, or crea�ve manner Speculates projec�ons for 24 months Shows progress toward proficiency, but with errors or omissions; areas for improvement may include missing or unrealis�c projec�ons Does not a�empt criterion 30 Explana�on of Assump�ons Exceeds proficiency in an excep�onally clear, insigh�ul, sophis�cated, or crea�ve manner Explains ability to speculate appropriate assump�ons Shows progress toward proficiency, but with errors or omissions; areas for improvement may include explana�ons that are cursory, or assump�ons that are not clearly stated Does not a�empt criterion 30 Ar�cula�on of Response Exceeds proficiency in an excep�onally clear, insigh�ul, sophis�cated, or crea�ve manner Clearly conveys meaning with correct grammar, sentence structure, and spelling, demonstra�ng an understanding of audience and purpose Shows progress toward proficiency, but with errors in grammar, sentence structure, and spelling, nega�vely impac�ng readability Submission has cri�cal errors in grammar, sentence structure, and spelling, preven�ng understanding of ideas 10 Cita�ons and A�ribu�ons Uses cita�ons for ideas requiring a�ribu�on, with few or no minor errors Uses cita�ons for ideas requiring a�ribu�on, with consistent minor errors Uses cita�ons for ideas requiring a�ribu�on, with major errors Does not use cita�ons for ideas requiring a�ribu�on 10 Total: 100% 11/30/22, 6:55 PM 10-K https://www.sec.gov/Archives/edgar/data/1318605/000095017022000796/tsla-20211231.htm 1/129 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _________ to _________ Commission File Number: 001-34756 Tesla, Inc. (Exact name of registrant as specified in its charter) Delaware 91-2197729 (State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification No.) 13101 Tesla Road Austin, Texas 78725 (Address of principal executive offices) (Zip Code) (512) 516-8177 (Registrant’s telephone number, including area code) Securities registered pursuant to Section 12(b) of the Act: Title of each class Trading Symbol(s) Name of each exchange on which registered Common stock TSLA The Nasdaq Global Select Market Securities registered pursuant to Section 12(g) of the Act: None Indicate by check mark whether the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes ☒ No ☐ Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or 15(d) of the Act. Yes ☐ No ☒ Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 (“Exchange Act”) during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☒ No ☐ Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ☒ No ☐ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company” and “emerging growth company” in Rule 12b-2 of the Exchange Act: Large accelerated filer ☒ Accelerated filer ☐ Non-accelerated filer ☐ Smaller reporting company ☐ Emerging growth company ☐ 11/30/22, 6:55 PM 10-K https://www.sec.gov/Archives/edgar/data/1318605/000095017022000796/tsla-20211231.htm 2/129 If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐ 11/30/22, 6:55 PM 10-K https://www.sec.gov/Archives/edgar/data/1318605/000095017022000796/tsla-20211231.htm 3/129 Indicate by check mark whether the Registrant has filed a report on and attestation to its management’s assessment of the effectiveness of its internal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firm that prepared or issued its audit report. ☒ Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐ No ☒ The aggregate market value of voting stock held by non-affiliates of the registrant, as of June 30, 2021, the last day of the registrant’s most recently completed second fiscal quarter, was $541.28 billion (based on the closing price for shares of the registrant’s Common Stock as reported by the NASDAQ Global Select Market on June 30, 2021). Shares of Common Stock held by each executive officer, director, and holder of 5% or more of the outstanding Common Stock have been excluded in that such persons may be deemed to be affiliates. This determination of affiliate status is not necessarily a conclusive determination for other purposes. As of January 31, 2022, there were 1,033,507,611 shares of the registrant’s common stock outstanding. DOCUMENTS INCORPORATED BY REFERENCE Portions of the registrant’s Proxy Statement for the 2022 Annual Meeting of Stockholders are incorporated herein by reference in Part III of this Annual Report on Form 10-K to the extent stated herein. Such proxy statement will be filed with the Securities and Exchange Commission within 120 days of the registrant’s fiscal year ended December 31, 2021. 11/30/22, 6:55 PM 10-K https://www.sec.gov/Archives/edgar/data/1318605/000095017022000796/tsla-20211231.htm 4/129 TESLA, INC. ANNUAL REPORT ON FORM 10-K FOR THE YEAR ENDED DECEMBER 31, 2021 INDEX Page PART I. Item 1. Business 4 Item 1A. Risk Factors 14 Item 1B. Unresolved Staff Comments 28 Item 2. Properties 28 Item 3. Legal Proceedings 28 Item 4. Mine Safety Disclosures 28 PART II. Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 29 Item 6. [Reserved] 30 Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations 31 Item 7A. Quantitative and Qualitative Disclosures about Market Risk 43 Item 8. Financial Statements and Supplementary Data 45 Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 96 Item 9A. Controls and Procedures 96 Item 9B. Other Information 96 Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 96 PART III. Item 10. Directors, Executive Officers and Corporate Governance 97 Item 11. Executive Compensation 97 Item 12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 97 Item 13. Certain Relationships and Related Transactions, and Director Independence 97 Item 14. Principal Accountant Fees and Services 97 PART IV. Item 15. Exhibits and Financial Statement Schedules 98 Item 16. Summary 115 Signatures 116 11/30/22, 6:55 PM 10-K https://www.sec.gov/Archives/edgar/data/1318605/000095017022000796/tsla-20211231.htm 5/129 Forward-Looking Statements The discussions in this Annual Report on Form 10-K contain forward-looking statements reflecting our current expectations that involve risks and uncertainties. These forward-looking statements include, but are not limited to, statements concerning any potential future impact of the coronavirus disease (“COVID-19”) pandemic on our business, supply chain constraints, our strategy, competition, future operations and production capacity, future financial position, future revenues, projected costs, profitability, expected cost reductions, capital adequacy, expectations regarding demand and acceptance for our technologies, growth opportunities and trends in the market in which we operate, prospects and plans and objectives of management. The words “anticipates,” “believes,” “could,” “estimates,” “expects,” “intends,” “may,” “plans,” “projects,” “will,” “would” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. We may not actually achieve the plans, intentions or expectations disclosed in our forward-looking statements and you should not place undue reliance on our forward-looking statements. Actual results or events could differ materially from the plans, intentions and expectations disclosed in the forward-looking statements that we make. These forward-looking statements involve risks and uncertainties that could cause our actual results to differ materially from those in the forward-looking statements, including, without limitation, the risks set forth in Part I, Item 1A, “Risk Factors” in this Annual Report on Form 10-K and in our other filings with the Securities and Exchange Commission (the "SEC"). We do not assume any obligation to update any forward-looking statements. 3 11/30/22, 6:55 PM 10-K https://www.sec.gov/Archives/edgar/data/1318605/000095017022000796/tsla-20211231.htm 6/129 PART I ITEM 1. BUSINESS Overview We design, develop, manufacture, sell and lease high-performance fully electric vehicles and energy generation and storage systems, and offer services related to our products. We generally sell our products directly to customers, including through our website and retail locations. We also continue to grow our customer-facing infrastructure through a global network of vehicle service centers, Mobile Service technicians, body shops, Supercharger stations and Destination Chargers to accelerate the widespread adoption of our products. We emphasize performance, attractive