Stock Analysis on Net

Tesla Inc. (NASDAQ:TSLA)

$19.99

Analysis of Debt

Microsoft Excel LibreOffice Calc

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Total Debt (Carrying Amount)

Tesla Inc., balance sheet: debt

US$ in millions

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Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
Current portion of debt and finance leases
Current portion of solar bonds and promissory notes issued to related parties
Debt and finance leases, net of current portion
Total debt and finance leases (carrying amount)

Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).

Debt item Description The company
Total debt and finance leases (carrying amount) Sum of the carrying values as of the balance sheet date of all debt plus capital lease obligations. Tesla Inc. total debt decreased from 2019 to 2020 and from 2020 to 2021.

Total Debt (Fair Value)

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Dec 31, 2021
Selected Financial Data (US$ in millions)
Convertible Senior Notes
5.30% Senior Notes due in 2025
Solar Asset and Loan-backed Notes
Other debt
Finance lease liabilities
Total debt and finance leases (fair value)
Financial Ratio
Debt, fair value to carrying amount ratio

Based on: 10-K (reporting date: 2021-12-31).


Weighted-average Interest Rate on Debt

Weighted-average interest rate on debt:

Interest rate Debt amount1 Interest rate × Debt amount Weighted-average interest rate2
Total

Based on: 10-K (reporting date: 2021-12-31).

1 US$ in millions

2 Weighted-average interest rate = 100 × ÷ =


Interest Costs Incurred

Tesla Inc., interest costs incurred

US$ in millions

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12 months ended: Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
Interest expense
Capitalized interest
Interest costs incurred

Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).

Debt item Description The company
Interest expense Amount of the cost of borrowed funds accounted for as interest expense for debt. Tesla Inc. interest expense increased from 2019 to 2020 but then decreased significantly from 2020 to 2021.
Capitalized interest Amount of interest costs capitalized disclosed as an adjusting item to interest costs incurred. Tesla Inc. capitalized interest increased from 2019 to 2020 and from 2020 to 2021.
Interest costs incurred Total interest costs incurred during the period and either capitalized or charged against earnings. Tesla Inc. interest costs incurred increased from 2019 to 2020 but then decreased significantly from 2020 to 2021.

Adjusted Interest Coverage Ratio

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Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
Selected Financial Data (US$ in millions)
Net income (loss) attributable to common stockholders
Add: Net income attributable to noncontrolling interest
Add: Income tax expense
Add: Interest expense
Earnings before interest and tax (EBIT)
 
Interest costs incurred
Financial Ratio With and Without Capitalized Interest
Interest coverage ratio (without capitalized interest)1
Adjusted interest coverage ratio (with capitalized interest)2

Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).

2021 Calculations

1 Interest coverage ratio (without capitalized interest) = EBIT ÷ Interest expense
= ÷ =

2 Adjusted interest coverage ratio (with capitalized interest) = EBIT ÷ Interest costs incurred
= ÷ =


Solvency ratio Description The company
Adjusted interest coverage ratio A solvency ratio calculated as EBIT divided by interest payments (including capitalized interest). Tesla Inc. adjusted interest coverage ratio improved from 2019 to 2020 and from 2020 to 2021.