2024 Q1 Form 10-K Financial Statement

#000155837024002178 Filed on February 29, 2024

View on sec.gov

Income Statement

Concept 2024 Q1 2023 Q4 2023
Revenue $120.3M $222.2M $891.3M
YoY Change -42.81% 0.64% 27.07%
Cost Of Revenue $279.3M $444.4M $1.399B
YoY Change -0.12% 47.55% 56.19%
Gross Profit -$159.1M -$222.3M -$507.8M
YoY Change 129.23% 176.21% 161.27%
Gross Profit Margin -132.27% -100.06% -56.97%
Selling, General & Admin $77.96M $111.8M $422.5M
YoY Change -25.05% 10.19% 16.09%
% of Gross Profit
Research & Development $25.28M $30.31M $113.7M
YoY Change -4.73% 10.39% 14.23%
% of Gross Profit
Depreciation & Amortization $16.61M $19.11M $51.99M
YoY Change 69.64% 18.3% 71.0%
% of Gross Profit
Operating Expenses $100.3M $145.9M $835.7M
YoY Change -28.54% -1.47% 72.25%
Operating Profit -$259.4M -$368.2M -$1.344B
YoY Change 23.65% 61.11% 97.71%
Interest Expense $11.33M -$32.50M $45.20M
YoY Change 6.34% -1381.97% 15.79%
% of Operating Profit
Other Income/Expense, Net -$6.996M $4.735M -$131.0K
YoY Change 46.64% -41.03% -94.31%
Pretax Income -$295.6M -$642.8M -$1.376B
YoY Change 42.24% 186.78% 90.3%
Income Tax $200.0K -$448.0K -$7.364M
% Of Pretax Income
Net Earnings -$295.8M -$642.4M -$1.369B
YoY Change 43.19% 187.47% 89.06%
Net Earnings / Revenue -245.94% -289.16% -153.57%
Basic Earnings Per Share -$0.46 -$2.30
Diluted Earnings Per Share -$0.46 -$1.07 -$2.30
COMMON SHARES
Basic Shares Outstanding 684.3M 605.5M 595.5M
Diluted Shares Outstanding 641.3M 595.5M

Balance Sheet

Concept 2024 Q1 2023 Q4 2023
SHORT-TERM ASSETS
Cash & Short-Term Investments $172.9M $135.0M $135.0M
YoY Change -88.5% -93.22% -93.33%
Cash & Equivalents $172.9M $135.0M $135.0M
Short-Term Investments $0.00 $0.00
Other Short-Term Assets $339.0M $320.6M $320.6M
YoY Change -28.14% -27.82% -27.82%
Inventory $975.9M $961.3M $961.3M
Prepaid Expenses
Receivables $148.8M $243.8M $370.1M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $1.767B $1.787B $1.787B
YoY Change -40.67% -45.94% -45.94%
LONG-TERM ASSETS
Property, Plant & Equipment $1.454B $1.436B $2.005B
YoY Change 66.24% 99.53% 63.9%
Goodwill $0.00
YoY Change -100.0%
Intangibles $183.3M $188.9M
YoY Change -10.02% -9.07%
Long-Term Investments $61.07M $56.10M $63.78M
YoY Change 4.61% 149.95% 104.11%
Other Assets $785.9M $828.7M $828.7M
YoY Change 7.77% 17.3% 17.3%
Total Long-Term Assets $3.081B $3.116B $3.116B
YoY Change 15.09% 26.71% 26.71%
TOTAL ASSETS
Total Short-Term Assets $1.767B $1.787B $1.787B
Total Long-Term Assets $3.081B $3.116B $3.116B
Total Assets $4.847B $4.903B $4.903B
YoY Change -14.27% -14.95% -14.95%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $285.5M $257.8M $257.8M
YoY Change 51.77% 34.36% 34.36%
Accrued Expenses $154.8M $200.5M $264.2M
YoY Change -7.71% 28.2% 28.71%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $2.786M $2.716M $96.19M
YoY Change -46.71% -47.18% 33.19%
Total Short-Term Liabilities $911.4M $964.8M $964.8M
YoY Change 34.52% 51.87% 51.87%
LONG-TERM LIABILITIES
Long-Term Debt $509.1M $517.0M $517.0M
YoY Change -1.51% 2.14% 2.14%
Other Long-Term Liabilities $143.5M $146.7M $522.8M
YoY Change -20.39% -24.02% -7.07%
Total Long-Term Liabilities $143.5M $146.7M $1.040B
YoY Change -20.39% -24.02% -2.71%
TOTAL LIABILITIES
Total Short-Term Liabilities $911.4M $964.8M $964.8M
Total Long-Term Liabilities $143.5M $146.7M $1.040B
Total Liabilities $1.918B $2.005B $2.005B
YoY Change 10.72% 17.64% 17.64%
SHAREHOLDERS EQUITY
Retained Earnings -$4.786B -$4.490B
YoY Change 43.82% 43.86%
Common Stock $7.057M $6.254M
YoY Change 15.31% 2.79%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $2.929B $2.898B $2.898B
YoY Change
Total Liabilities & Shareholders Equity $4.847B $4.903B $4.903B
YoY Change -14.27% -14.95% -14.95%

Cashflow Statement

Concept 2024 Q1 2023 Q4 2023
OPERATING ACTIVITIES
Net Income -$295.8M -$642.4M -$1.369B
YoY Change 43.19% 187.47% 89.06%
Depreciation, Depletion And Amortization $16.61M $19.11M $51.99M
YoY Change 69.64% 18.3% 71.0%
Cash From Operating Activities -$167.7M -$242.7M -$1.107B
YoY Change -39.43% -20.85% 33.55%
INVESTING ACTIVITIES
Capital Expenditures $92.62M $186.0M $665.2M
YoY Change -45.05% 50.57% 52.36%
Acquisitions
YoY Change
Other Investing Activities -$21.89M $453.6M $1.424B
YoY Change -107.94% -184.75% -760.88%
Cash From Investing Activities -$120.6M $267.6M $728.1M
YoY Change -225.88% -140.62% -207.16%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net $300.0K
YoY Change -9.09%
Cash From Financing Activities 283.1M -8.330M 6.117M
YoY Change 3841.86% -76.95% -107.89%
NET CHANGE
Cash From Operating Activities -167.7M -242.7M -1.107B
Cash From Investing Activities -120.6M 267.6M 728.1M
Cash From Financing Activities 283.1M -8.330M 6.117M
Net Change In Cash 37.84M 16.58M -555.6M
YoY Change -117.54% -101.66% -68.97%
FREE CASH FLOW
Cash From Operating Activities -$167.7M -$242.7M -$1.107B
Capital Expenditures $92.62M $186.0M $665.2M
Free Cash Flow -$260.3M -$428.7M -$1.772B
YoY Change -41.56% -0.34% 40.04%

Facts In Submission

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CY2023 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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CY2022 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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CY2021 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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CY2023 us-gaap Income Tax Expense Benefit
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CY2022 us-gaap Income Tax Expense Benefit
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CY2021 us-gaap Net Income Loss
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CY2021 us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2021 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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CY2022 us-gaap Net Income Loss
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CY2021 us-gaap Net Income Loss
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CY2022 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
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CY2021 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
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CY2023 plug Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Change In Unrealized Gain Loss On Available For Sale Securities
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CY2022 plug Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Change In Unrealized Gain Loss On Available For Sale Securities
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CY2021 plug Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Change In Unrealized Gain Loss On Available For Sale Securities
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CY2023 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Tax
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CY2023 us-gaap Comprehensive Income Net Of Tax
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CY2022 us-gaap Comprehensive Income Net Of Tax
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CY2021 us-gaap Comprehensive Income Net Of Tax
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CY2021 us-gaap Stock Issued During Period Value New Issues
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CY2021 plug Stock Issued During Period Value Stock Options Exercised And Restricted Stock Award Issuance
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CY2021 us-gaap Treasury Stock Value Acquired Cost Method
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CY2021 plug Stock Issued During Period Value Exercise Of Warrants
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CY2021 plug Equity Provision For Common Stock Warrants
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CY2021 us-gaap Stock Issued During Period Value Acquisitions
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CY2021Q4 us-gaap Stockholders Equity
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CY2022 us-gaap Treasury Stock Value Acquired Cost Method
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CY2022 us-gaap Stock Issued During Period Value Share Based Compensation
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CY2022 plug Stock Issued During Period Value Stock Options Exercised And Restricted Stock Award Issuance
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CY2022 us-gaap Stock Issued During Period Value Acquisitions
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CY2022 plug Equity Provision For Common Stock Warrants
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CY2023 plug Stock Issued During Period Value Stock Options Exercised And Restricted Stock Award Issuance
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CY2023 us-gaap Treasury Stock Value Acquired Cost Method
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CY2023 plug Shares Issued During Period Value Earnouts From Prior Acquisitions Paid In Stock
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CY2023 plug Equity Provision For Common Stock Warrants
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CY2023Q4 us-gaap Stockholders Equity
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CY2022 us-gaap Profit Loss
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CY2021 us-gaap Profit Loss
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CY2023 us-gaap Depreciation
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CY2022 us-gaap Depreciation
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CY2021 us-gaap Depreciation
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CY2023 us-gaap Amortization Of Intangible Assets
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CY2022 us-gaap Amortization Of Intangible Assets
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CY2021 us-gaap Amortization Of Intangible Assets
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CY2023 us-gaap Inventory Write Down
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CY2022 us-gaap Inventory Write Down
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CY2021 us-gaap Inventory Write Down
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CY2023 us-gaap Share Based Compensation
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CY2022 us-gaap Share Based Compensation
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CY2021 us-gaap Share Based Compensation
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CY2023 us-gaap Provision For Doubtful Accounts
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CY2022 us-gaap Amortization Of Financing Costs
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CY2021 us-gaap Amortization Of Financing Costs
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CY2023 plug Amortization Of Warrant Cost
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CY2022 plug Amortization Of Warrant Cost
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CY2021 plug Amortization Of Warrant Cost
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CY2023 plug Income Tax Benefit
IncomeTaxBenefit
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CY2022 plug Income Tax Benefit
IncomeTaxBenefit
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CY2021 plug Income Tax Benefit
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CY2023 plug Impairment Of Other Current Assets And Long Lived Asset
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CY2022 plug Impairment Of Other Current Assets And Long Lived Asset
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CY2021 plug Impairment Of Other Current Assets And Long Lived Asset
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CY2023 us-gaap Goodwill Impairment Loss
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CY2023 plug Provision For Loss Contracts Related To Service
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CY2022 plug Provision For Loss Contracts Related To Service
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CY2021 plug Provision For Loss Contracts Related To Service
ProvisionForLossContractsRelatedToService
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CY2023 plug Increase Decrease In Fair Value Of Contingent Consideration
IncreaseDecreaseInFairValueOfContingentConsideration
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CY2022 plug Increase Decrease In Fair Value Of Contingent Consideration
IncreaseDecreaseInFairValueOfContingentConsideration
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CY2021 plug Increase Decrease In Fair Value Of Contingent Consideration
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CY2023 us-gaap Debt Securities Available For Sale Realized Gain Loss
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CY2022 us-gaap Debt Securities Available For Sale Realized Gain Loss
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CY2021 us-gaap Debt Securities Available For Sale Realized Gain Loss
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CY2022 us-gaap Investment Income Net Amortization Of Discount And Premium
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CY2021 us-gaap Investment Income Net Amortization Of Discount And Premium
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CY2023 plug Lease Origination Costs
LeaseOriginationCosts
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CY2022 plug Lease Origination Costs
LeaseOriginationCosts
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CY2021 plug Lease Origination Costs
LeaseOriginationCosts
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CY2022 us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
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CY2023 us-gaap Increase Decrease In Equity Securities Fv Ni
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CY2022 us-gaap Increase Decrease In Equity Securities Fv Ni
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CY2021 us-gaap Increase Decrease In Equity Securities Fv Ni
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CY2023 us-gaap Income Loss From Equity Method Investments
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CY2022 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
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CY2021 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
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CY2023 us-gaap Increase Decrease In Accounts Receivable
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CY2022 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
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CY2021 us-gaap Increase Decrease In Accounts Receivable
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CY2023 us-gaap Increase Decrease In Inventories
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CY2022 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
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CY2021 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
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CY2023 us-gaap Increase Decrease In Contract With Customer Asset
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CY2022 us-gaap Increase Decrease In Contract With Customer Asset
IncreaseDecreaseInContractWithCustomerAsset
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CY2021 us-gaap Increase Decrease In Contract With Customer Asset
IncreaseDecreaseInContractWithCustomerAsset
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CY2023 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
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CY2022 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
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CY2021 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
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CY2023 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
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CY2022 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
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CY2021 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
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CY2023 plug Payments Of Contingent Consideration
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CY2023 plug Increase Decrease In Customer Liability
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58404000
CY2022 plug Increase Decrease In Customer Liability
IncreaseDecreaseInCustomerLiability
40615000
CY2021 plug Increase Decrease In Customer Liability
IncreaseDecreaseInCustomerLiability
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CY2023 us-gaap Net Cash Provided By Used In Operating Activities
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CY2022 us-gaap Net Cash Provided By Used In Operating Activities
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CY2021 us-gaap Net Cash Provided By Used In Operating Activities
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CY2023 us-gaap Payments To Acquire Property Plant And Equipment
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CY2022 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
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CY2021 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
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CY2021 us-gaap Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
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CY2023 us-gaap Payments To Acquire Equipment On Lease
PaymentsToAcquireEquipmentOnLease
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CY2022 us-gaap Payments To Acquire Equipment On Lease
PaymentsToAcquireEquipmentOnLease
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CY2021 us-gaap Payments To Acquire Equipment On Lease
PaymentsToAcquireEquipmentOnLease
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CY2022 us-gaap Payments To Acquire Available For Sale Securities Debt
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CY2021 us-gaap Payments To Acquire Available For Sale Securities Debt
PaymentsToAcquireAvailableForSaleSecuritiesDebt
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CY2022 us-gaap Proceeds From Sale Of Available For Sale Securities Debt
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CY2021 us-gaap Proceeds From Sale Of Available For Sale Securities Debt
ProceedsFromSaleOfAvailableForSaleSecuritiesDebt
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CY2023 us-gaap Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities
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CY2022 us-gaap Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities
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CY2021 us-gaap Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities
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CY2022 plug Payments To Acquire Equity Securities Fvni
PaymentsToAcquireEquitySecuritiesFvni
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CY2021 plug Payments To Acquire Equity Securities Fvni
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ProceedsFromSaleOfEquitySecuritiesFvNi
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CY2021 us-gaap Proceeds From Sale Of Equity Securities Fv Ni
ProceedsFromSaleOfEquitySecuritiesFvNi
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CY2022 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
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CY2021 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
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CY2023 plug Payments Of Cash For Non Consolidated Affiliates And Non Marketable Equity Securities
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CY2022 plug Payments Of Cash For Non Consolidated Affiliates And Non Marketable Equity Securities
PaymentsOfCashForNonConsolidatedAffiliatesAndNonMarketableEquitySecurities
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CY2021 plug Payments Of Cash For Non Consolidated Affiliates And Non Marketable Equity Securities
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CY2023 us-gaap Net Cash Provided By Used In Investing Activities
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CY2022 us-gaap Net Cash Provided By Used In Investing Activities
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CY2021 us-gaap Net Cash Provided By Used In Investing Activities
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CY2023 us-gaap Payment For Contingent Consideration Liability Financing Activities
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CY2022 us-gaap Payment For Contingent Consideration Liability Financing Activities
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CY2021 us-gaap Payment For Contingent Consideration Liability Financing Activities
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CY2021 us-gaap Proceeds From Issuance Of Common Stock
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CY2023 us-gaap Payments Related To Tax Withholding For Share Based Compensation
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CY2022 us-gaap Payments Related To Tax Withholding For Share Based Compensation
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CY2021 us-gaap Payments Related To Tax Withholding For Share Based Compensation
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CY2023 plug Proceeds Payments From Stock Options Exercised
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CY2022 plug Proceeds Payments From Stock Options Exercised
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CY2021 plug Proceeds Payments From Stock Options Exercised
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CY2022 plug Repayments For Finance Obligations And Finance Leases
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CY2021 plug Repayments For Finance Obligations And Finance Leases
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CY2022 us-gaap Net Cash Provided By Used In Financing Activities
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CY2021 us-gaap Net Cash Provided By Used In Financing Activities
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CY2022 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
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CY2021 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
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CY2023 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
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CY2022 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
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CY2021 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
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CY2023 plug Restricted Cash Period Increase Decrease Total
RestrictedCashPeriodIncreaseDecreaseTotal
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CY2022 plug Restricted Cash Period Increase Decrease Total
RestrictedCashPeriodIncreaseDecreaseTotal
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CY2021 plug Restricted Cash Period Increase Decrease Total
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CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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1549344000
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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CY2021 us-gaap Interest Paid Capitalized
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CY2022 us-gaap Interest Paid Net
InterestPaidNet
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CY2021 us-gaap Interest Paid Net
InterestPaidNet
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CY2023 plug Recognition Of Right Of Use Asset Finance Leases
RecognitionOfRightOfUseAssetFinanceLeases
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CY2022 plug Recognition Of Right Of Use Asset Finance Leases
RecognitionOfRightOfUseAssetFinanceLeases
25650000
CY2021 plug Recognition Of Right Of Use Asset Finance Leases
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CY2023 plug Net Transfers Between Inventory Lease Assets And Property Plant And Equipment
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CY2022 plug Net Transfers Between Inventory Lease Assets And Property Plant And Equipment
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CY2021 plug Net Transfers Between Inventory Lease Assets And Property Plant And Equipment
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CY2023 us-gaap Nature Of Operations
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<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><b style="font-weight:bold;">1. Nature of Operations</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt;"><span style="font-style:italic;font-weight:bold;visibility:hidden;">​</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt;"><span style="font-style:italic;font-weight:bold;">Description of Business</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt;"><span style="visibility:hidden;">​</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt;">Plug is facilitating the paradigm shift to an increasingly electrified world by innovating cutting-edge hydrogen and fuel cell solutions.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><span style="visibility:hidden;">​</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt;">While we continue to develop commercially viable hydrogen and fuel cell product solutions, we have <span style="background:#ffffff;">expanded our offerings to support a variety of commercial operations that can be powered with clean hydrogen. We provide electrolyzers that allow customers — such as refineries, producers of chemicals, steel, fertilizer and commercial refueling stations — to generate hydrogen on-site</span><span style="font-size:11pt;">. </span>We are focusing our efforts on (a) industrial mobility applications, including electric forklifts and electric industrial vehicles, at multi-shift high volume manufacturing and high throughput distribution sites where we believe our products and services provide a unique combination of productivity, flexibility, and environmental benefits; (b) production of hydrogen; and (c) stationary power systems that will support critical operations, such as data centers, microgrids, and generation facilities, in either a backup power or continuous power role, and replace batteries, diesel generators or the grid for telecommunication logistics, transportation, and utility customers. Plug expects to support these products and customers with an ecosystem of vertically integrated products that produce, transport, store and handle, dispense, and use hydrogen for mobility and power applications.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><span style="visibility:hidden;">​</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt;">Our current product and service portfolio includes: </p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt;"><span style="visibility:hidden;">​</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 0pt 36pt;"><b style="font-weight:bold;">GenDrive</b>: GenDrive is our hydrogen fueled PEM fuel cell system, providing power to material handling EVs, including Class 1, 2, 3 and 6 electric forklifts, automated guided vehicles, and ground support equipment.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><span style="visibility:hidden;">​</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 0pt 36pt;"><b style="font-weight:bold;">GenSure</b>: GenSure is our stationary fuel cell solution providing scalable, modular PEM fuel cell power to support the backup and grid-support power requirements of the telecommunications, transportation, and utility sectors; our GenSure High Power Fuel Cell Platform supports large scale stationary power and data center markets.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 0pt 36pt;"><span style="margin-left:0pt;visibility:hidden;">​</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 0pt 36pt;"><b style="font-weight:bold;">Progen</b>: Progen is our fuel cell stack and engine technology currently used globally in mobility and stationary fuel cell systems, and as engines in electric delivery vans. This includes Plug’s membrane electrode assembly (“MEA”), a critical component of the fuel cell stack used in zero-emission fuel cell EV engines.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 0pt 36pt;"><span style="font-weight:bold;margin-left:0pt;visibility:hidden;">​</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 0pt 36pt;"><b style="font-weight:bold;">GenFuel</b>: GenFuel is our liquid hydrogen fueling, delivery, generation, storage, and dispensing system.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 0pt 36pt;"><span style="margin-left:0pt;visibility:hidden;">​</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 0pt 36pt;"><b style="font-weight:bold;">GenCare</b>: GenCare is our ongoing “Internet of Things”-based maintenance and on-site service program for GenDrive fuel cell systems, GenSure fuel cell systems, GenFuel hydrogen storage and dispensing products and Progen fuel cell engines. </p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><span style="visibility:hidden;">​</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 0pt 36pt;"><b style="font-weight:bold;">GenKey</b>: GenKey is our vertically integrated “turn-key” solution combining either GenDrive or GenSure fuel cell power with GenFuel fuel and GenCare aftermarket service, offering complete simplicity to customers transitioning to fuel cell power.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 0pt 36pt;"><span style="margin-left:0pt;visibility:hidden;">​</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 0pt 36pt;"><b style="font-weight:bold;">Electrolyzers</b>: The design and implementation of 5MW and 10MW electrolyzer systems that are modular, scalable hydrogen generators optimized for clean hydrogen production. Electrolyzers generate hydrogen from water using electricity and a special membrane and “green” hydrogen is generated by using renewable energy inputs, such as solar or wind power.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 0pt 36pt;"><span style="margin-left:0pt;visibility:hidden;">​</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 0pt 36pt;"><b style="font-weight:bold;">Liquefaction Systems</b>: Plug’s 15 ton-per-day and 30 ton-per-day liquefiers are engineered for high efficiency, reliability, and operational flexibility — providing consistent liquid hydrogen to customers. This design increases plant reliability and availability while minimizing parasitic losses like heat leak and seal gas losses. </p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 0pt 36pt;"><span style="margin-left:0pt;visibility:hidden;">​</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 0pt 36pt;"><b style="font-weight:bold;">Cryogenic Equipment:</b> E<span style="background:#ffffff;">ngineered equipment including trailers and mobile storage equipment for the distribution of liquified hydrogen, oxygen, argon, nitrogen and other cryogenic gases.</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 0pt 36pt;"><span style="margin-left:0pt;visibility:hidden;">​</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 0pt 36pt;"><b style="font-weight:bold;">Liquid Hydrogen:</b> Liquid hydrogen provides an efficient fuel alternative to fossil-based energy. We produce liquid hydrogen through our electrolyzer systems and liquefaction systems. Liquid hydrogen supply will be used by customers in material handling operations, fuel cell electric vehicle fleets, and stationary power applications.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 0pt 36pt;"><span style="margin-left:0pt;visibility:hidden;">​</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;">We provide our products and solutions worldwide through our direct sales force, and by leveraging relationships with original equipment manufacturers (“OEMs”) and their dealer networks. Plug is currently targeting Asia, Australia, Europe, Middle East and North America for expansion in adoption. The European Union (the “EU”) has rolled out ambitious targets for the hydrogen economy, with the United Kingdom also taking steps in this direction, and Plug is seeking to execute on our strategy to become one of the European leaders in the hydrogen economy. This includes a targeted account strategy for material handling, securing strategic partnerships with European OEMs, energy companies, utility leaders and accelerating our electrolyzer business.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt;">In addition, our wholly-owned subsidiary, Plug Power LA JV, LLC, created a joint venture with Niloco Hydrogen Holdings LLC, a wholly-owned subsidiary of Olin, named “Hidrogenii” in the third quarter of 2022. We believe Hidrogenii will support reliability of supply and speed to market for hydrogen throughout North America, and set the foundation for broader collaboration between Plug and Olin. Hidrogenii began the construction of a 15-ton-per-day hydrogen plant in St. Gabriel, Louisiana. Hidrogenii is owned 50% by Plug Power LA JV, LLC and 50% by Niloco Hydrogen Holdings LLC.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt;"><span style="visibility:hidden;">​</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt;">Our wholly-owned subsidiary, Plug Power France, entered into a joint venture with Renault named HyVia, a French société par actions simplifiée (“HyVia”) in the second quarter of 2021. HyVia plans to manufacture and sell fuel cell powered electric light commercial vehicles (“FCE-LCVs”) and to supply hydrogen fuel and fueling stations to support the FCE-LCV market, in each case primarily in Europe. HyVia has received funding and is owned 50% by Plug Power France and 50% by Renault.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt;"><span style="visibility:hidden;">​</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt;">Our wholly-owned subsidiary, Plug Power España S.L. (“Plug Power Spain”), entered into a joint venture with Acciona, named AccionaPlug S.L., in the fourth quarter of 2021. The joint venture intends to develop clean hydrogen projects in Spain and Portugal. AccionaPlug S.L. has received funding and is owned 50% by Plug Power Spain and 50% by Acciona.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><span style="visibility:hidden;">​</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt;">Plug Power Inc. entered into a joint venture with SK E&amp;S named SK Plug Hyverse, which was initially funded in the first quarter of 2022. SK Plug Hyverse seeks to accelerate the use of hydrogen as an alternative energy source in selected Asian markets. This collaboration aims to provide hydrogen fuel cell systems, hydrogen fueling stations, electrolyzers and clean hydrogen to the Korean and other selected Asian markets. The partnership will leverage SK E&amp;S’s leadership in chemicals, petroleum and energy as well as Plug’s leading hydrogen platform. This joint venture is owned 49% by Plug Power Inc. and 51% by SK E&amp;S.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt;"><span style="visibility:hidden;">​</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt;">Plug Power Inc. has also invested in a hydrogen infrastructure and growth equity fund, Clean H2 Infra Fund, a special limited partnership registered in France, since the fourth quarter of 2021. The Clean H2 Infra Fund is focused on clean hydrogen infrastructure through financing projects in the production, storage and distribution of clean hydrogen. As of December 31, 2023 the Company’s ownership percentage in the Clean H2 Infra Fund was approximately 5%.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt;"><span style="visibility:hidden;">​</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt;"><b style="font-weight:bold;">Liquidity and Capital Resources</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><span style="visibility:hidden;">​</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt;">The Company has continued to experience negative cash flows from operations and net losses. The Company incurred net losses of approximately $1.4 billion, $724.0 million and $460.0 million for the years ended December 31, 2023, 2022 and 2021, respectively. </p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt;"><span style="visibility:hidden;">​</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt;">The Company’s working capital was $822.2 million at December 31, 2023, which included unrestricted cash and cash equivalents of $135.0 million and restricted cash of $1.0 billion. The Company plans to invest a portion of its available cash to expand its current production and manufacturing capacity, construct hydrogen plants, and invest in capital projects. At the time of the issuance of the Company’s 2023 third quarter Form 10-Q, conditions existed that raised substantial doubt about the Company’s ability to continue as a going concern. As disclosed in Note 24, “Subsequent Events”, on January 17, 2024, the Company entered into the At Market Issuance Sales Agreement (the “Original ATM Agreement”) with B. Riley Securities, Inc. (“B. Riley”), pursuant to which the Company may, from time to time, offer and sell through or to B. Riley, as sales agent or principal, shares of the Company’s common stock, having an aggregate offering price of </p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">up to $1.0 billion. As of February 23, 2024, the Company had offered and sold 77,417,069 shares of common stock having an aggregate offering price of approximately $302.1 million under the Original ATM Agreement. On February 23, 2024, the Company and B. Riley entered into Amendment No. 1 to the Original ATM Agreement (the “Amendment” and, together with the Original ATM Agreement, the “ATM Agreement”) to increase the aggregate offering price of shares of the Company’s common stock available for future issuance under the Original ATM Agreement to $1.0 billion. Under the ATM Agreement, for a period of 18 months, the Company has the right at its sole discretion to direct B. Riley to act on a principal basis and purchase directly from the Company up to $11.0 million of shares of its common stock on any trading day (the “Maximum Commitment Advance Purchase Amount”) and up to $55.0 million of shares in any calendar week (the “Maximum Commitment Advance Purchase Amount Cap”). On and after June 1, 2024, so long as the Company’s market capitalization is no less than $1.0 billion, the Maximum Commitment Advance Purchase Amount will remain $11.0 million and the Maximum Commitment Advance Purchase Amount Cap will remain $55.0 million. If the Company’s market capitalization is less than $1.0 billion on and after June 1, 2024, the Maximum Commitment Advance Purchase Amount will be decreased to $10.0 million and the Maximum Commitment Advance Purchase Amount Cap will be decreased to $30.0 million. The Company believes that its working capital and cash position, together with its right to direct B. Riley to purchase shares directly from the Company under the ATM Agreement, will be sufficient to fund its on-going operations for a period of at least 12 months subsequent to the issuance of the accompanying consolidated financial statements and, as a result, substantial doubt about the Company’s ability to continue as a going concern no longer exists.</p>
CY2023 us-gaap Net Income Loss
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CY2023 plug Working Capital
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CY2023Q4 plug Unrestricted Cash
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CY2023Q4 us-gaap Restricted Cash Current
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CY2023 us-gaap Use Of Estimates
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<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt;"><b style="font-weight:bold;">Use of Estimates</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt;"><span style="visibility:hidden;">​</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt;">The consolidated financial statements of the Company have been prepared in conformity with U.S. generally accepted accounting principles, which require management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. On an on-going basis, we evaluate our estimates and judgments, including but not limited to those related to revenue recognition, valuation of inventories, goodwill and intangible assets, valuation of long-lived assets, accrual for service loss contracts, operating and finance leases, allowance for doubtful accounts receivable, unbilled revenue, common stock warrants, stock-based compensation, income taxes, and contingencies. We base our estimates and judgments on historical experience and on various other factors and assumptions that are believed to be reasonable under the circumstances, the results of which form the basis for making judgments about (1) the carrying values of assets and liabilities and (2) the amount of revenue and expenses realized that are not readily apparent from other sources. Actual results may differ from these estimates under different assumptions or conditions.</p>
CY2023 plug Operating Lease Maximum Allowed Extension Percentage
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CY2022Q4 us-gaap Capitalized Contract Cost Net
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CY2023Q4 us-gaap Available For Sale Securities Debt Securities
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CY2023Q4 us-gaap Equity Securities Fv Ni
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0
CY2023Q4 us-gaap Equity Securities Without Readily Determinable Fair Value Amount
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CY2022Q4 us-gaap Equity Securities Without Readily Determinable Fair Value Amount
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CY2023 plug Number Of Days After Invoice Issuance When Accounts Receivable Is Due Minimum
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P30D
CY2023 plug Number Of Days After Invoice Issuance When Accounts Receivable Is Due Maximum
NumberOfDaysAfterInvoiceIssuanceWhenAccountsReceivableIsDueMaximum
P90D
CY2023Q4 us-gaap Allowance For Doubtful Accounts Receivable
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CY2022Q4 us-gaap Allowance For Doubtful Accounts Receivable
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CY2023 plug Disclosure Of Accounting Policy For Recognizing And Measuring Impairment Of Other Current Assets And Long Lived Assets.
DisclosureOfAccountingPolicyForRecognizingAndMeasuringImpairmentOfOtherCurrentAssetsAndLongLivedAssets.
<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt;"><b style="font-weight:bold;">Impairment</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt;"><span style="font-weight:bold;visibility:hidden;">​</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt;"><i style="font-style:italic;">Contract assets</i></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt;"><span style="font-style:italic;visibility:hidden;">​</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt;">During the fourth quarter of 2023, there was a contract asset impairment charge of $2.4 million related to our assessment of recoverability of a customer contract. There was no such impairment charge for the year ended December 31, 2022.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt;"><span style="font-weight:bold;visibility:hidden;">​</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt;"><i style="font-style:italic;">Other current assets</i></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt;"><span style="font-style:italic;visibility:hidden;">​</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt;">During the second quarter of 2023, there was an other current asset impairment charge of $9.7 million related to the termination of a commercial agreement. There was no such impairment charge for the year ended December 31, 2022.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><span style="font-weight:bold;visibility:hidden;">​</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt;"><i style="font-style:italic;">Property, equipment, leasehold improvements, and finite-lived intangible assets</i></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt;"><span style="visibility:hidden;">​</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt;">Long-lived assets, such as property, equipment, leasehold improvements, and finite-lived intangible assets, are reviewed for impairment whenever events and circumstances indicate that the carrying amount of an asset may not be recoverable. If circumstances require a long-lived asset or asset group to be tested for impairment, the Company first compares undiscounted cash flows expected to be generated by that asset or asset group to its carrying amount. If the carrying amount of the long-lived asset or asset group is not recoverable on an undiscounted cash flow basis, an impairment </p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">is recognized to the extent that the carrying amount exceeds its fair value. In making these determinations, the Company uses certain assumptions, including, but not limited to: (i) estimated fair value of the assets; and (ii) estimated, undiscounted future cash flows expected to be generated by these assets, which are based on additional assumptions such as asset utilization, length of service, the asset will be used in the Company’s operations, and (iii) estimated residual values. Fair value is determined using various valuation techniques including discounted cash flow models, quoted market values and third-party independent appraisals, as considered necessary.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt;"><span style="visibility:hidden;">​</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt;">There was impairment of $3.1 million and $0.8 million of property, equipment, leasehold improvements, or finite-lived intangible assets during the years ended December 31, 2023 and 2022, respectively.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt;"><span style="font-style:italic;visibility:hidden;">​</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt;"><i style="font-style:italic;">PPA Executory Contract Considerations</i></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt;"><span style="visibility:hidden;">​</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt;">We evaluate PPA assets on a quarterly basis to identify events or changes in circumstances (“triggering events”) that indicate the carrying value of certain assets may not be recoverable. PPA assets that we evaluate include right of use lease assets, equipment deployed to our PPAs, and assets related primarily to our fuel delivery business.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt;"><span style="visibility:hidden;">​</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt;">Upon the occurrence of a triggering event, PPA assets are evaluated on a per-site basis to determine if the carrying amounts are recoverable. The determination of recoverability is made based upon the estimated undiscounted future net cash flows of assets grouped at the lowest level for which there are identifiable cash flows independent of the cash flows of other groups. For operating assets, the Company has generally determined that the lowest level of identifiable cash flows is based on the customer sites. The assets related primarily to our fuel delivery business are considered to be their own asset group. The cash flows are estimated based on the remaining useful life of the primary asset within the asset group.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt;"><span style="visibility:hidden;">​</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt;">For assets related to our PPA agreements, we consider all underlying cash inflows related to our contract revenues and cash outflows relating to the costs incurred to service the PPAs. Our cash flow estimates used in the recoverability test, are based upon, among other things, historical results adjusted to reflect our best estimate of future cash flows and operating performance. Development of future cash flows also requires us to make assumptions and to apply judgment, including timing of future expected cash flows, future cost savings initiatives, and determining recovery values. Changes to our key assumptions related to future performance and other economic and market factors could adversely affect the outcome of our recoverability tests and cause more asset groups to be tested for impairment.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt;"><span style="visibility:hidden;">​</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt;">If the estimated undiscounted future net cash flows for a given asset group are less than the carrying amount of the related asset group, an impairment loss is determined by comparing the estimated fair value with the carrying amount of the asset group. The impairment loss is then allocated to the assets in the asset group based on the asset’s relative carrying amounts. However, assets are not impaired below their then estimated fair values. Fair value is generally determined through various valuation techniques, including discounted cash flow models, quoted market values and third-party independent appraisals, as well as year-over-year trends in pricing of our new equipment and overall evaluation of our industry and market, as considered necessary. The Company considers these indicators with certain of its own internal indices and metrics in determining fair value in light of the nascent state of the Company’s market and industry. The estimate of fair value represents our best estimates of these factors and is subject to variability. Changes to our key assumptions related to future performance and other economic and market factors could adversely affect our impairment evaluation. </p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt;"><span style="visibility:hidden;">​</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt;">In 2023, the Company has determined that the assets deployed for certain PPA arrangements, as well as certain assets related to the delivery of fuel to customers, are not recoverable based on the undiscounted estimated future cash flows of the asset group, and an expense of $4.8 million was recorded to impairment on the income statement. As the PPA arrangements are considered to be executory contracts and there is no specific accounting guidance that permits loss recognition for these revenue contracts, the Company has not recognized a provision for the expected future losses under these revenue arrangements. The Company expects that it will recognize future service losses for these arrangements as it continues its efforts to reduce costs of delivering the maintenance component of these arrangements. The Company has estimated total future revenues and costs for these types of arrangements based on existing contracts and leverage of the related assets. For the future estimates, the Company used service cost estimates for extended maintenance contracts and customer warrant provisions at rates consistent with experience to date. The terms for the underlying estimates vary but the average residual term on the existing contracts is four years.</p>
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CY2023Q4 plug Operating And Finance Lease Liability
OperatingAndFinanceLeaseLiability
401267000
CY2023 us-gaap Operating Lease Expense
OperatingLeaseExpense
95000000.0
CY2022 us-gaap Operating Lease Expense
OperatingLeaseExpense
67600000
CY2021 us-gaap Operating Lease Expense
OperatingLeaseExpense
38600000
CY2023Q4 plug Prepaid Rent And Security Deposit
PrepaidRentAndSecurityDeposit
7400000
CY2022Q4 plug Prepaid Rent And Security Deposit
PrepaidRentAndSecurityDeposit
5800000
CY2023 us-gaap Operating Lease Payments
OperatingLeasePayments
91637000
CY2022 us-gaap Operating Lease Payments
OperatingLeasePayments
63214000
CY2023Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P5Y9M3D
CY2022Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P6Y6M7D
CY2023Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.113
CY2022Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.112
CY2023 plug Finance Lease Right Of Use Asset Amortization And Interest Expense
FinanceLeaseRightOfUseAssetAmortizationAndInterestExpense
7500000
CY2022 plug Finance Lease Right Of Use Asset Amortization And Interest Expense
FinanceLeaseRightOfUseAssetAmortizationAndInterestExpense
6200000
CY2023Q4 us-gaap Finance Lease Right Of Use Asset Before Accumulated Amortization
FinanceLeaseRightOfUseAssetBeforeAccumulatedAmortization
57300000
CY2022Q4 us-gaap Finance Lease Right Of Use Asset Before Accumulated Amortization
FinanceLeaseRightOfUseAssetBeforeAccumulatedAmortization
53700000
CY2023Q4 us-gaap Finance Lease Right Of Use Asset Accumulated Amortization
FinanceLeaseRightOfUseAssetAccumulatedAmortization
9000000.0
CY2023Q4 plug Finance Obligation Imputed Interest
FinanceObligationImputedInterest
102692000
CY2023Q4 plug Financing Transaction Finance Obligation Amount
FinancingTransactionFinanceObligationAmount
368394000
CY2022Q4 us-gaap Finance Lease Right Of Use Asset Accumulated Amortization
FinanceLeaseRightOfUseAssetAccumulatedAmortization
4700000
CY2023 plug Finance Lease Payments Operating Cash Flow
FinanceLeasePaymentsOperatingCashFlow
3059000
CY2022 plug Finance Lease Payments Operating Cash Flow
FinanceLeasePaymentsOperatingCashFlow
2447000
CY2023 us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
8638000
CY2022 us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
6586000
CY2023Q4 us-gaap Finance Lease Weighted Average Remaining Lease Term1
FinanceLeaseWeightedAverageRemainingLeaseTerm1
P3Y10M13D
CY2022Q4 us-gaap Finance Lease Weighted Average Remaining Lease Term1
FinanceLeaseWeightedAverageRemainingLeaseTerm1
P3Y11M1D
CY2023Q4 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
0.068
CY2022Q4 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
0.067
CY2023Q4 plug Finance Obligation Due In Next Twelve Months
FinanceObligationDueInNextTwelveMonths
120938000
CY2023Q4 plug Finance Obligation Due In Second Year
FinanceObligationDueInSecondYear
106776000
CY2023Q4 plug Finance Obligation Due In Third Year
FinanceObligationDueInThirdYear
90053000
CY2023Q4 plug Finance Obligation Due In Fourth Year
FinanceObligationDueInFourthYear
73482000
CY2023Q4 plug Finance Obligation Due In Fifth Year
FinanceObligationDueInFifthYear
53203000
CY2023Q4 plug Finance Obligation Due In Sixth Year And Thereafter
FinanceObligationDueInSixthYearAndThereafter
26634000
CY2023Q4 plug Finance Obligation Payments Due
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471086000
CY2023Q4 us-gaap Long Term Debt
LongTermDebt
3900000
CY2023Q4 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
5500000
CY2023Q4 us-gaap Debt Instrument Unamortized Discount
DebtInstrumentUnamortizedDiscount
1600000
CY2023Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
3357000
CY2023Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
1200000
CY2023Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
900000
CY2023Q4 us-gaap Debt Instrument Carrying Amount
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5457000
CY2023Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
5000000000000
CY2023Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2023Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.01
CY2023 plug Number Of Votes Per Share
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1
CY2021Q1 us-gaap Stock Issued During Period Shares New Issues
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32200000
CY2023 us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Before Tax
ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodBeforeTax
12800000
CY2022 us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Before Tax
ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodBeforeTax
0
CY2021 us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Before Tax
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0
CY2023 plug Minimum Percentage Of Warrants Vested And Exercisable Automatically
MinimumPercentageOfWarrantsVestedAndExercisableAutomatically
0.60
CY2023 plug Minimum Percentage Of Warrants Vested And Exercisable Automatically
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0.60
CY2023 plug Minimum Percentage Of Warrants Vested And Exercisable Automatically
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0.60
CY2023 us-gaap Revenues
Revenues
891340000
CY2022 us-gaap Revenues
Revenues
701440000
CY2021 us-gaap Revenues
Revenues
502342000
CY2023Q4 us-gaap Accounts Receivable Net
AccountsReceivableNet
243811000
CY2022Q4 us-gaap Accounts Receivable Net
AccountsReceivableNet
129450000
CY2023Q4 us-gaap Contract With Customer Asset Net
ContractWithCustomerAssetNet
155989000
CY2022Q4 us-gaap Contract With Customer Asset Net
ContractWithCustomerAssetNet
104287000
CY2023Q4 us-gaap Deferred Revenue
DeferredRevenue
288302000
CY2022Q4 us-gaap Deferred Revenue
DeferredRevenue
229898000
CY2023 plug Contract With Customer Asset Increase Decrease For Cash Received
ContractWithCustomerAssetIncreaseDecreaseForCashReceived
151965000
CY2022 plug Contract With Customer Asset Increase Decrease For Cash Received
ContractWithCustomerAssetIncreaseDecreaseForCashReceived
200347000
CY2023 plug Contract With Customer Liability Increase Decrease Related To Warrants
ContractWithCustomerLiabilityIncreaseDecreaseRelatedToWarrants
440000
CY2022 us-gaap Contract With Customer Liability Increase Decrease For Contract Acquired In Business Combination
ContractWithCustomerLiabilityIncreaseDecreaseForContractAcquiredInBusinessCombination
10011000
CY2023 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
-94001000
CY2022 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
-163550000
CY2023 us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
-58404000
CY2022 us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
-46808000
CY2023Q4 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
1151431000
CY2022 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
169800000
CY2021 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
72400000
CY2023 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
4
CY2023 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod
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CY2023 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
11.55
CY2023 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod
2851637
CY2023 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue
20.40
CY2023 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Forfeited In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod
823048
CY2023 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Forfeitures Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue
23.60
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber
6732884
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue
15.66
CY2023Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Equity Instruments Other Than Options Aggregate Intrinsic Value Nonvested
SharebasedCompensationArrangementBySharebasedPaymentAwardEquityInstrumentsOtherThanOptionsAggregateIntrinsicValueNonvested
30298000
CY2023 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-1376197000
CY2022 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-723169000
CY2021 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-476162000
CY2023 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-7364000
CY2022 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
839000
CY2021 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
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CY2023 us-gaap Net Income Loss
NetIncomeLoss
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CY2022 us-gaap Net Income Loss
NetIncomeLoss
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CY2021 us-gaap Net Income Loss
NetIncomeLoss
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CY2023 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
1170000
CY2022 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
668000
CY2023 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-103372000
CY2022 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-35737000
CY2021 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
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CY2023 plug Net Operating Loss Carryforward Generated Expired
NetOperatingLossCarryforwardGeneratedExpired
-163827000
CY2022 plug Net Operating Loss Carryforward Generated Expired
NetOperatingLossCarryforwardGeneratedExpired
-87698000
CY2021 plug Net Operating Loss Carryforward Generated Expired
NetOperatingLossCarryforwardGeneratedExpired
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CY2023 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
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CY2022 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
123606000
CY2021 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
142274000
CY2023 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-7364000
CY2022 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
839000
CY2021 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
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CY2023 plug Increase Decrease In Valuation Allowance Due To Change In Tax Rates
IncreaseDecreaseInValuationAllowanceDueToChangeInTaxRates
270000
CY2023 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.210
CY2022 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.210
CY2021 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.210
CY2023 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.000
CY2022 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.000
CY2021 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.006
CY2023 plug Effective Income Tax Rate Reconciliation Common Stocks Warrant Liability
EffectiveIncomeTaxRateReconciliationCommonStocksWarrantLiability
0.000
CY2022 plug Effective Income Tax Rate Reconciliation Common Stocks Warrant Liability
EffectiveIncomeTaxRateReconciliationCommonStocksWarrantLiability
0.000
CY2021 plug Effective Income Tax Rate Reconciliation Common Stocks Warrant Liability
EffectiveIncomeTaxRateReconciliationCommonStocksWarrantLiability
0.060
CY2023 plug Effective Income Tax Rate Reconciliation Section162 M Disallowance Tax Cuts And Jobs Act Of2017 Percent
EffectiveIncomeTaxRateReconciliationSection162MDisallowanceTaxCutsAndJobsActOf2017Percent
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CY2022 plug Effective Income Tax Rate Reconciliation Section162 M Disallowance Tax Cuts And Jobs Act Of2017 Percent
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CY2021 plug Effective Income Tax Rate Reconciliation Section162 M Disallowance Tax Cuts And Jobs Act Of2017 Percent
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CY2023 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense Share Based Compensation Cost
EffectiveIncomeTaxRateReconciliationNondeductibleExpenseShareBasedCompensationCost
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CY2022 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense Share Based Compensation Cost
EffectiveIncomeTaxRateReconciliationNondeductibleExpenseShareBasedCompensationCost
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CY2021 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense Share Based Compensation Cost
EffectiveIncomeTaxRateReconciliationNondeductibleExpenseShareBasedCompensationCost
0.043
CY2023 plug Effective Income Tax Rate Reconciliation On Provision To Return And Deferred Tax Adjustments Percent
EffectiveIncomeTaxRateReconciliationOnProvisionToReturnAndDeferredTaxAdjustmentsPercent
0.021
CY2022 plug Effective Income Tax Rate Reconciliation On Provision To Return And Deferred Tax Adjustments Percent
EffectiveIncomeTaxRateReconciliationOnProvisionToReturnAndDeferredTaxAdjustmentsPercent
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CY2021 plug Effective Income Tax Rate Reconciliation On Provision To Return And Deferred Tax Adjustments Percent
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CY2023 us-gaap Effective Income Tax Rate Reconciliation Change In Enacted Tax Rate
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CY2022 us-gaap Effective Income Tax Rate Reconciliation Change In Enacted Tax Rate
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CY2021 us-gaap Effective Income Tax Rate Reconciliation Change In Enacted Tax Rate
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CY2023 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
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CY2022 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
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CY2021 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
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CY2023 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense Impairment Losses
EffectiveIncomeTaxRateReconciliationNondeductibleExpenseImpairmentLosses
0.033
CY2022 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense Impairment Losses
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0.000
CY2021 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense Impairment Losses
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0.000
CY2023 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
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CY2022 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
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CY2021 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
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CY2023 us-gaap Effective Income Tax Rate Continuing Operations
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CY2022 us-gaap Effective Income Tax Rate Continuing Operations
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CY2021 us-gaap Effective Income Tax Rate Continuing Operations
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CY2023Q4 us-gaap Deferred Income Taxes And Other Liabilities Noncurrent
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CY2022Q4 us-gaap Deferred Income Taxes And Other Liabilities Noncurrent
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11500000
CY2023Q4 us-gaap Deferred Tax Assets Deferred Income
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CY2022Q4 us-gaap Deferred Tax Assets Deferred Income
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CY2023 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
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CY2023Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards Domestic
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CY2023Q4 plug Deferred Tax Assets Interest Expense
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CY2022Q4 plug Deferred Tax Assets Interest Expense
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CY2023Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Other
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CY2022Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Other
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CY2023Q4 us-gaap Deferred Tax Assets Tax Credit Carryforwards
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CY2022Q4 us-gaap Deferred Tax Assets Tax Credit Carryforwards
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CY2023Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Share Based Compensation Cost
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44023000
CY2022Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Share Based Compensation Cost
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30217000
CY2023Q4 plug Deferred Tax Assets Tax Deferred Expense Non Compensatory Warrants
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2950000
CY2022Q4 plug Deferred Tax Assets Tax Deferred Expense Non Compensatory Warrants
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6268000
CY2023Q4 plug Deferred Tax Assets Capitalized Research And Development Expenditures
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CY2022Q4 plug Deferred Tax Assets Capitalized Research And Development Expenditures
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CY2023Q4 plug Deferred Tax Assets Right Of Use Asset
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CY2022Q4 plug Deferred Tax Assets Right Of Use Asset
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CY2023Q4 us-gaap Deferred Tax Assets Capital Loss Carryforwards
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CY2022Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
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CY2022Q4 us-gaap Deferred Tax Assets Valuation Allowance
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CY2023Q4 us-gaap Deferred Tax Assets Net
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CY2022Q4 us-gaap Deferred Tax Assets Net
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104488000
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36837000
CY2022Q4 us-gaap Deferred Tax Liabilities Goodwill And Intangible Assets Intangible Assets
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39669000
CY2022Q4 plug Deferred Tax Liabilities Convertible Debt
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26989000
CY2023Q4 plug Deferred Tax Liabilities Lease Liability
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50632000
CY2022Q4 plug Deferred Tax Liabilities Lease Liability
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40454000
CY2023Q4 us-gaap Deferred Tax Liabilities Property Plant And Equipment
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7889000
CY2022Q4 us-gaap Deferred Tax Liabilities Property Plant And Equipment
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CY2023Q4 us-gaap Deferred Income Tax Liabilities
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CY2022Q4 us-gaap Deferred Income Tax Liabilities
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CY2023Q4 us-gaap Deferred Tax Liabilities
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CY2022Q4 us-gaap Deferred Tax Liabilities
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CY2023Q4 us-gaap Deferred Tax Assets Valuation Allowance
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CY2022Q4 us-gaap Deferred Tax Assets Valuation Allowance
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CY2023Q4 plug Increase Decrease In Valuation Allowance For Current Year Increase In Net Operating Losses
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188795000
CY2023Q4 plug Increase Decrease In Valuation Allowance For Current Year Net Increase In Deferred Tax Assets Other Than Net Operating Losses
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69600000
CY2023Q4 plug Deferred Tax Assets Operating Loss Carryforwards Subject To Limitation
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CY2023Q4 plug Deferred Tax Assets Operating Loss Carryforwards Not Subject To Limitation
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CY2023Q4 plug Letters Of Credit Pledged As Security
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CY2022Q4 plug Letters Of Credit Pledged As Security
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CY2023Q4 plug Customs Related Letters Of Credit
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CY2022Q4 plug Customs Related Letters Of Credit
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CY2022Q4 us-gaap Security Deposit
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CY2022Q4 us-gaap Security Deposit
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CY2023Q4 us-gaap Recorded Unconditional Purchase Obligation Due In Next Rolling Twelve Months
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CY2023Q4 us-gaap Recorded Unconditional Purchase Obligation Due In Rolling Year Two
RecordedUnconditionalPurchaseObligationDueInRollingYearTwo
8023000
CY2023Q4 us-gaap Recorded Unconditional Purchase Obligation Due In Rolling Year Three
RecordedUnconditionalPurchaseObligationDueInRollingYearThree
8023000
CY2023Q4 us-gaap Recorded Unconditional Purchase Obligation Due In Rolling Year Four
RecordedUnconditionalPurchaseObligationDueInRollingYearFour
2638000
CY2023Q4 us-gaap Recorded Unconditional Purchase Obligation
RecordedUnconditionalPurchaseObligation
60809000
CY2023 us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1
CY2023 us-gaap Revenues
Revenues
891340000
CY2022 us-gaap Revenues
Revenues
701440000
CY2021 us-gaap Revenues
Revenues
502342000
CY2023Q4 us-gaap Noncurrent Assets
NoncurrentAssets
2004688000
CY2022Q4 us-gaap Noncurrent Assets
NoncurrentAssets
1223115000

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