Tesla Inc
For the period ended Sep 30, 2024. Filed Oct 24, 2024.
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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.
Sep 30, 2024 · Filed Oct 24, 2024
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Item 4. Controls and Procedures
Note 3 –Inventory
Our inventory consisted of the following (in millions):
| September 30,2024 | December 31,2023 | |
|---|---|---|
| Raw materials | $5,555 | $5,390 |
| Work in process | 1,791 | 2,016 |
| Finished goods (1) | 5,950 | 5,049 |
| Service parts | 1,234 | 1,171 |
| Total | $14,530 | $13,626 |
(1)Finished goods inventory includes products-in-transit to fulfill customer orders, new vehicles, used vehicles and energy products available for sale.
We write-down inventory for any excess or obsolete inventory or when we believe that the net realizable value of inventory 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. During the 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.
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