XML 45 R31.htm IDEA: XBRL DOCUMENT
v3.26.1

BALANCE SHEETS COMPONENTS (Tables) | 6 Months Ended
--- | ---
Jun. 30, 2026
Organization, Consolidation and Presentation of Financial Statements [Abstract] |
Schedule of Inventory | Inventory as of June 30, 2026 and December 31, 2025 was as follows (in thousands):
| June 30, 2026 |  | December 31, 2025
Raw materials | $ | 487,482 |  |  | $ | 479,754 |
Work in progress | 268,422 |  |  | 146,575 |
Finished goods | 622,749 |  |  | 483,200 |
Total Inventory | $ | 1,378,653 |  |  | $ | 1,109,529 |
Schedule of Property, Plant and Equipment, Net and Construction in Progress | Property, plant and equipment, net as of June 30, 2026 and December 31, 2025 was as follows (in thousands):
| June 30, 2026 |  | December 31, 2025
Land and land improvements | $ | 70,967 |  |  | $ | 70,967 |
Building and improvements(1) | 1,102,446 |  |  | 1,099,186 |
Machinery, tooling and vehicles(2)(3) | 2,393,770 |  |  | 2,363,263 |
Computer equipment and software | 159,288 |  |  | 140,419 |
Leasehold improvements | 306,925 |  |  | 304,609 |
Furniture and fixtures | 60,309 |  |  | 57,921 |
Finance leases | 113,647 |  |  | 193,137 |
Construction in progress | 1,449,228 |  |  | 970,960 |
Total Property, plant and equipment | 5,656,580 |  |  | 5,200,462 |
Less accumulated depreciation and amortization | (1,433,739) |  |  | (1,222,330) |
Property, plant and equipment, net | $ | 4,222,841 |  |  | $ | 3,978,132 |
(1) As of June 30, 2026 and December 31, 2025, $127.5 million of capital expenditure support received from Ministry of Investment of Saudi Arabia (“MISA”) was primarily recorded as a deduction to the AMP-2 building balance. See Note 15 “Related Party Transactions” for more information. (2) Included $28.4 million and $47.2 million of service loaner vehicles as of June 30, 2026 and December 31, 2025, respectively. (3) Included $32.8 million and $33.7 million of operating lease vehicles sold to rental companies as of June 30, 2026 and December 31, 2025, respectively. Construction in progress consisted of the following (in thousands):
| June 30, 2026 |  | December 31, 2025
Machinery and tooling | $ | 635,554 |  |  | $ | 418,426 |
Construction of AMP-1 and AMP-2(1) | 749,325 |  |  | 512,502 |
Leasehold improvements and other | 64,349 |  |  | 40,032 |
Total construction in progress | $ | 1,449,228 |  |  | $ | 970,960 |
(1) As of June 30, 2026 and December 31, 2025, $67.3 million of capital expenditure support received from MISA was recorded primarily as a deduction to the AMP-2 facility construction in progress balance. See Note 15 “Related Party Transactions” for more information.
Schedule of Other Current Liabilities | Other current liabilities as of June 30, 2026 and December 31, 2025 were as follows (in thousands):
| June 30, 2026 |  | December 31, 2025
Engineering, design, and testing accrual | $ | 67,502 |  |  | $ | 56,237 |
Capital expenditures accrual | 257,076 |  |  | 234,313 |
Accrued compensation | 191,828 |  |  | 155,906 |
Accrued purchases(1) | 120,767 |  |  | 183,330 |
Retail leasehold improvements accrual | 5,375 |  |  | 5,804 |
Third-party services accrual | 46,228 |  |  | 72,083 |
Tooling liability | 59,978 |  |  | 35,138 |
Operating lease liabilities, current portion | 67,198 |  |  | 64,171 |
Reserve for loss on firm inventory purchase commitments | 63,538 |  |  | 131,904 |
Accrued warranty | 74,908 |  |  | 58,765 |
Accrued interest | 45,559 |  |  | 29,841 |
Deferred revenue(2) | 29,450 |  |  | 29,950 |
Sales incentive accrual | 21,911 |  |  | 34,626 |
RVG liabilities | 60,201 |  |  | 55,448 |
Other current liabilities | 247,582 |  |  | 245,125 |
Total other current liabilities | $ | 1,359,101 |  |  | $ | 1,392,641 |
(1) Primarily represent accruals for inventory related purchases and transportation charges that had not been invoiced. (2) Represent deferred revenue from vehicle sales primarily related to OTA and remarketing activities.
Schedule of Other Long-Term Liabilities | Other long-term liabilities as of June 30, 2026 and December 31, 2025 were as follows (in thousands):
| June 30, 2026 |  | December 31, 2025
Operating lease liabilities, net of current portion | $ | 228,041 |  |  | $ | 225,434 |
Other long-term liabilities(1)(2) | 371,400 |  |  | 357,305 |
Total other long-term liabilities | $ | 599,441 |  |  | $ | 582,739 |
(1) As of June 30, 2026 and December 31, 2025, $114.8 million of deferred revenue was recorded within other long-term liabilities in the condensed consolidated balance sheets, respectively, in connection with the strategic technology and supply arrangement, and integration and supply arrangements with Aston Martin Lagonda Global Holdings plc (together with its subsidiaries, “Aston Martin”). See Note 15 “Related Party Transactions” for more information. (2) Included accrued warranty balance of $98.5 million and $93.4 million as of June 30, 2026 and December 31, 2025, respectively.
Schedule of Accrued Warranty Activities | Accrued warranty activities consisted of the following (in thousands):
| Three Months Ended June 30, |  | Six Months Ended June 30,
| 2026 |  | 2025 |  | 2026 |  | 2025
Accrued warranty - beginning of period(2) | $ | 164,314 |  |  | $ | 116,876 |  |  | $ | 152,201 |  |  | $ | 112,478 |
Warranty costs incurred | (9,076) |  |  | (7,445) |  |  | (16,074) |  |  | (15,359) |
Provision for warranty(1) | 18,172 |  |  | 14,960 |  |  | 37,283 |  |  | 27,272 |
Accrued warranty - end of period(2) | $ | 173,410 |  |  | $ | 124,391 |  |  | $ | 173,410 |  |  | $ | 124,391 |
(1) Provision for warranty for the three and six months ended June 30, 2026 and 2025 included estimated costs related to the recalls identified and/or special campaigns to repair or replace items under warranties. (2) Accrued warranty balance of $74.9 million and $58.8 million was recorded within other current liabilities, and $98.5 million and $93.4 million was recorded within other long-term liabilities, in the condensed consolidated balance sheets as of June 30, 2026 and December 31, 2025, respectively.

X
- References No definition available. + Details
Name: | us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of other current liabilities. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 210 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(20)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1 + Details
Name: | us-gaap_OtherCurrentLiabilitiesTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of other noncurrent liabilities. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 210 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(24)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1 + Details
Name: | us-gaap_OtherNoncurrentLiabilitiesTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of property, plant, and equipment. Includes, but is not limited to, land and land improvement; building; machinery and equipment; furniture and fixture; and work of art, historical treasure, or similar asset classified as collection. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 360 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482099/360-10-50-1 + Details
Name: | us-gaap_PropertyPlantAndEquipmentTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the carrying amount as of the balance sheet date of merchandise, goods, commodities, or supplies held for future sale or to be used in manufacturing, servicing or production process. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 210 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(6)(a)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1 + Details
Name: | us-gaap_ScheduleOfInventoryCurrentTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the changes in the guarantor's aggregate product warranty liability, including the beginning balance of the aggregate product warranty liability, the aggregate reductions in that liability for payments made (in cash or in kind) under the warranty, the aggregate changes in the liability for accruals related to product warranties issued during the reporting period, the aggregate changes in the liability for accruals related to preexisting warranties (including adjustments related to changes in estimates), and the ending balance of the aggregate product warranty liability. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 460 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 8 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482425/460-10-50-8 + Details
Name: | us-gaap_ScheduleOfProductWarrantyLiabilityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration