PLUG POWER INC

For the period ended Mar 31, 2024. Filed May 9, 2024.

About this filing

A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.

Mar 31, 2024 · Filed May 9, 2024

PLUG$1.50+3.4%Stored close · as of Nov 9, 2026

Extracted filing text, with the paragraph anchors used by the comparison.

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Contents

Condensed Consolidated Balance Sheets

(In thousands, except share and per share amounts)


· March 31, · December 31,
	2024		2023
Assets
Current assets:
Cash and cash equivalents		$172,873		$135,033
Restricted cash		219,616		216,552
Accounts receivable, net of allowance of $7,351 at March 31, 2024 and $8,798 at December 31, 2023		148,822		243,811
Inventory, net		975,898		961,253
Contract assets		129,994		126,248
Prepaid expenses and other current assets		119,370		104,068
Total current assets		1,766,573		1,786,965

Restricted cash		775,595		817,559
Property, plant, and equipment, net		1,453,991		1,436,177
Right of use assets related to finance leases, net		56,131		57,281
Right of use assets related to operating leases, net		389,201		399,969
Equipment related to power purchase agreements and fuel delivered to customers, net		115,109		111,261
Contract assets		30,380		29,741
Intangible assets, net		183,325		188,886
Investments in non-consolidated entities and non-marketable equity securities		66,691		63,783
Other assets		10,310		11,116
Total assets		$4,847,306		$4,902,738

Liabilities and Stockholders’ Equity
Current liabilities:
Accounts payable		$285,546		$257,828
Accrued expenses		154,814		200,544
Deferred revenue and other contract liabilities		179,902		204,139
Operating lease liabilities		65,250		63,691
Finance lease liabilities		9,602		9,441
Finance obligations		85,175		84,031
Current portion of long-term debt		2,786		2,716
Contingent consideration, loss accrual for service contracts, and other current liabilities		128,369		142,410
Total current liabilities		911,444		964,800

Deferred revenue and other contract liabilities		75,900		84,163
Operating lease liabilities		278,220		292,002
Finance lease liabilities		33,673		36,133
Finance obligations		264,610		284,363
Convertible senior notes, net		209,802		195,264
Long-term debt		1,013		1,209
Contingent consideration, loss accrual for service contracts, and other liabilities		143,522		146,679
Total liabilities		1,918,184		2,004,613

Stockholders’ equity:
Common stock, $.01 par value per share; 1,500,000,000 shares authorized; Issued (including shares in treasury): 705,604,549 at March 31, 2024 and 625,305,025 at December 31, 2023		7,057		6,254
Additional paid-in capital		7,823,209		7,494,685
Accumulated other comprehensive loss		(9,078)		(6,802)
Accumulated deficit		(4,785,520)		(4,489,744)
Less common stock in treasury: 19,242,215 at March 31, 2024 and 19,169,366 at December 31, 2023		(106,546)		(106,268)
Total stockholders’ equity		2,929,122		2,898,125
Total liabilities and stockholders’ equity		$4,847,306		$4,902,738

The** **accompanying notes are an integral part of these unaudited interim condensed consolidated financial statements.

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.