Tesla Motors delays filing of annual report

Tesla Motors has asked regulators with the SEC for an additional 15 days to file its annual report, known as a 10-K, due to an accounting error. The electric-car maker stresses that there is no impact on recently reported cash and cash equivalents, consolidated income statement, consolidated balance sheets or cash flow from operations.

Details can be found here. The company hopes to file its 10-K before March 11. From the filing:

Tesla believes that some unpaid capital expenditures in 2011 and 2012 would be more accurately classified as operating activities, rather than investing activities. Although the review is continuing, the consolidated statements of cash flows will likely be revised for the year ended December 31, 2011 by reducing cash flows used in investing activities with a corresponding increase in cash flows used in operating activities. A similar adjustment will be made to the statement of cash flows for the year ended December 31, 2012. These adjustments affect the quarters and full years ended December 31, 2012 and 2011, and could include a reclassification of approximately $31 million and $15 million from cash flows used in investing activities to cash flows used in operating activities for the years ended December 31, 2012 and 2011, respectively.”

 

 

 

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