Tesla Delays Filing Annual Report

Tesla says it was unable to meet the March 1 deadline for filing its 10-K full-year earnings report because of an error in classifying some unpaid capital expenditures.

In a filing today with the SEC, Tesla attributed the delay to "a probable error in the presentation of certain non-cash items relating to capital expenditures on its consolidated statements of cash flows," which it had found during a final review of its 10-K.

Tesla said some unpaid capital expenditures in 2011 and 2012 would be more accurately classified as operating activities, rather than investing activities.

The company said it would likely revise its consolidated statements of cash flow for both 2011 and 2012. The cash flow adjustments could include a reclassification of $31 million in 2012 and $15 million in 2011, from "cash flows used in investing activities to cash flows used in operating activities.

It said the matter will have no impact on previously reported total cash and cash equivalents, consolidated income statements, consolidated balance sheets, or free cash flows.

Tesla said its 10-K for 2012 would be filed no later than Monday.


The article Tesla Delays Filing Annual Report originally appeared on Fool.com.

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