XML 69 R52.htm IDEA: XBRL DOCUMENT
v3.24.0.1

Income Taxes (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2023
Income Taxes |
Schedule Components of loss before income taxes and the provision for income taxes | The components of loss before income taxes and the income tax (expense) benefit for the years ended December 31, 2023, 2022, and 2021, by jurisdiction, are as follows (in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | 2023 | ​ | 2022 | ​ | 2021
​ |  | U.S. |  | Foreign |  | Total |  | U.S. |  | Foreign |  | Total |  | U.S. |  | Foreign |  | Total
Loss before income taxes |  | $ | (1,211,796) | ​ | $ | (164,401) |  | $ | (1,376,197) |  | $ | (697,342) |  | $ | (25,827) |  | $ | (723,169) |  | $ | (466,825) |  | $ | (9,337) |  | $ | (476,162)
Income tax (expense) benefit | ​ | ​ | 29 | ​ | ​ | 7,335 | ​ | ​ | 7,364 | ​ | ​ | 868 | ​ | ​ | (1,707) | ​ | ​ | (839) | ​ | ​ | 16,540 | ​ | ​ | (343) | ​ | ​ | 16,197
Net loss |  | $ | (1,211,767) |  | $ | (157,066) |  | $ | (1,368,833) |  | $ | (696,474) |  | $ | (27,534) |  | $ | (724,008) |  | $ | (450,285) |  | $ | (9,680) |  | $ | (459,965)
Schedule of Significant Components of Deferred Income Tax Expense (Benefit) | The significant components of current and deferred income tax expense (benefit) for the years ended December 31, 2023, 2022, and 2021, by jurisdiction, are as follows (in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | 2023 | ​ | 2022 | ​ | 2021
​ |  | U.S. |  | Foreign |  | Total |  | U.S. |  | Foreign | ​ | Total |  | U.S. |  | Foreign |  | Total
Current income tax (benefit) expense | ​ | $ | — | ​ | $ | 1,170 | ​ | $ | 1,170 | ​ | $ | — | ​ | $ | 668 | ​ | $ | 668 | ​ | $ | — | ​ | $ | — | ​ | $ | —
Deferred tax (benefit) expense | ​ | ​ | (100,754) | ​ | ​ | (2,618) | ​ | ​ | (103,372) | ​ | ​ | (42,705) | ​ | ​ | 6,968 | ​ | ​ | (35,737) | ​ | ​ | (51,999) | ​ | ​ | 1,064 | ​ | ​ | (50,935)
Net operating loss carryforward generated | ​ | ​ | (146,174) | ​ | ​ | (17,653) | ​ | ​ | (163,827) | ​ | ​ | (92,030) | ​ | ​ | 4,332 | ​ | ​ | (87,698) | ​ | ​ | (105,498) | ​ | ​ | (2,038) | ​ | ​ | (107,536)
Valuation allowance increase (decrease) | ​ | ​ | 246,899 | ​ | ​ | 11,766 | ​ | ​ | 258,665 | ​ | ​ | 133,867 | ​ | ​ | (10,261) | ​ | ​ | 123,606 | ​ | ​ | 140,957 | ​ | ​ | 1,317 | ​ | ​ | 142,274
Expense (benefit) for income taxes | ​ | $ | (29) | ​ | ​ | (7,335) | ​ | $ | (7,364) | ​ | $ | (868) | ​ | $ | 1,707 | ​ | $ | 839 | ​ | $ | (16,540) | ​ | $ | 343 | ​ | $ | (16,197)
Schedule of Effective Income Tax Rate Reconciliation | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | 2023 |  | 2022 |  | 2021 |
U.S. Federal statutory tax rate | ​ | (21.0) | % | (21.0) | % | (21.0) | %
Deferred state taxes | ​ | 0.0 | % | 0.0 | % | (0.6) | %
Common stock warrant liability | ​ | 0.0 | % | 0.0 | % | (6.0) | %
Section 162M Disallowance | ​ | 0.7 | % | 1.9 | % | 1.1 | %
Equity Compensation | ​ | 0.4 | % | (0.7) | % | (4.3) | %
Provision to return and deferred tax asset adjustments | ​ | (2.1) | % | 4.6 | % | (1.3) | %
Change in U.S. Federal/Foreign statutory tax rate | ​ | (0.1) | % | 0.0 | % | 0.3 | %
Other, net | ​ | 0.6 | % | 0.6 | % | (1.5) | %
Impairment of goodwill | ​ | 3.3 | % | 0.0 | % | 0.0 | %
Change in valuation allowance | ​ | 17.7 | % | 14.8 | % | 29.9 | %
​ | ​ | (0.5) | % | 0.1 | % | (3.4) | %
Schedule of Deferred Tax Assets and Liabilities | The Company has recorded a net deferred tax liability in other non-current liabilities, at December 31, 2023 and 2022 of approximately $3.2 million and $11.5 million, respectively. Significant components of the Company’s deferred tax assets and liabilities as of December 31, 2023 and 2022 are as follows (in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | U.S. | ​ | Foreign | ​ | Total
​ | ​ | 2023 | ​ | 2022 | ​ | 2023 | ​ | 2022 | ​ | 2023 | ​ | 2022
Deferred revenue | ​ | ​ | 39,241 | ​ | ​ | 33,172 | ​ | ​ | 142 | ​ | ​ | 137 | ​ | ​ | 39,383 | ​ | ​ | 33,309
Interest expense | ​ | ​ | 28,126 | ​ | ​ | 31,368 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 28,126 | ​ | ​ | 31,368
Other reserves and accruals | ​ | ​ | 57,265 | ​ | ​ | 26,591 | ​ | ​ | 337 | ​ | ​ | 287 | ​ | ​ | 57,602 | ​ | ​ | 26,878
Tax credit carryforwards | ​ | ​ | 20,794 | ​ | ​ | 14,949 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 20,794 | ​ | ​ | 14,949
Amortization of stock-based compensation | ​ | ​ | 44,023 | ​ | ​ | 30,217 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 44,023 | ​ | ​ | 30,217
Non-compensatory warrants | ​ | ​ | 2,950 | ​ | ​ | 6,268 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 2,950 | ​ | ​ | 6,268
Capitalized research & development expenditures | ​ | ​ | 82,374 | ​ | ​ | 60,588 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 82,374 | ​ | ​ | 60,588
Right of use liability (operating leases) | ​ | ​ | 41,960 | ​ | ​ | 32,616 | ​ | ​ | — | ​ | ​ | 259 | ​ | ​ | 41,960 | ​ | ​ | 32,875
Capital loss carryforwards | ​ | ​ | 1,763 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 1,763 | ​ | ​ | —
Net operating loss carryforwards | ​ | ​ | 443,964 | ​ | ​ | 297,790 | ​ | ​ | 25,373 | ​ | ​ | 7,720 | ​ | ​ | 469,337 | ​ | ​ | 305,510
Total deferred tax asset | ​ | ​ | 762,460 | ​ | ​ | 533,559 | ​ | ​ | 25,852 | ​ | ​ | 8,403 | ​ | ​ | 788,312 | ​ | ​ | 541,962
Valuation allowance | ​ | ​ | (676,190) | ​ | ​ | (429,291) | ​ | ​ | (19,949) | ​ | ​ | (8,183) | ​ | ​ | (696,139) | ​ | ​ | (437,474)
Net deferred tax assets | ​ | $ | 86,270 | ​ | $ | 104,268 | ​ | $ | 5,903 | ​ | $ | 220 | ​ | $ | 92,173 | ​ | $ | 104,488
Intangible assets | ​ | ​ | (27,749) | ​ | ​ | (29,731) | ​ | ​ | (9,088) | ​ | ​ | (9,938) | ​ | ​ | (36,837) | ​ | ​ | (39,669)
Convertible debt | ​ | ​ | — | ​ | ​ | (26,989) | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | (26,989)
Right of use asset (operating leases) | ​ | ​ | (50,632) | ​ | ​ | (40,194) | ​ | ​ | — | ​ | ​ | (260) | ​ | ​ | (50,632) | ​ | ​ | (40,454)
Property, plant and equipment and right of use assets | ​ | ​ | (7,889) | ​ | ​ | (7,383) | ​ | ​ | — | ​ | ​ | (1,500) | ​ | ​ | (7,889) | ​ | ​ | (8,883)
Deferred tax liability | ​ | $ | (86,270) | ​ | $ | (104,297) | ​ | $ | (9,088) | ​ | $ | (11,699) | ​ | $ | (95,358) | ​ | $ | (115,996)
Net | ​ | $ | — | ​ | $ | (29) | ​ | $ | (3,185) | ​ | $ | (11,479) | ​ | $ | (3,185) | ​ | $ | (11,508)
Schedule of Valuation Allowance | A reconciliation of the current year change in valuation allowance is as follows (in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | U.S. |  | Foreign |  | Total
Increase in valuation allowance for current year increase in net operating losses | ​ | $ | 177,299 | ​ | ​ | 11,496 | ​ | $ | 188,795
Increase in valuation allowance for current year net increase in deferred tax assets other than net operating losses | ​ | ​ | 69,600 | ​ | ​ | — | ​ | ​ | 69,600
Increase in valuation allowance due to change in tax rates | ​ | ​ | — | ​ | ​ | 270 | ​ | ​ | 270
Net increase in valuation allowance | ​ | $ | 246,899 | ​ | $ | 11,766 | ​ | $ | 258,665

X
- Definition Tabular disclosure of income before income tax between domestic and foreign jurisdictions and the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years. + References No definition available. + Details
Name: | plug_ComponentsOfLossBeforeIncomeTaxesAndProvisionForIncomeTaxesTableTextBlock
Namespace Prefix: | plug_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Schedule of significant components of U.S. foreign deferred income taxes. + References No definition available. + Details
Name: | plug_ComponentsOfU.s.AndForeignDeferredIncomeTaxesTableTextBlock
Namespace Prefix: | plug_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

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

X
- Definition Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Paragraph 2 -Section 50 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482685/740-10-50-2 + Details
Name: | us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Paragraph 12 -Section 50 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482685/740-10-50-12 + Details
Name: | us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of valuation allowances to reduce deferred tax assets to net realizable value, including identification of the deferred tax asset more likely than not will not be fully realized and the corresponding amount of the valuation allowance. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482685/740-10-50-2 + Details
Name: | us-gaap_SummaryOfValuationAllowanceTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration