2021 Q4 Form 10-K Financial Statement

#000187417822000008 Filed on March 31, 2022

View on sec.gov

Income Statement

Concept 2021 Q4 2021 2020 Q4
Revenue $54.00M $55.00M $0.00
YoY Change
Cost Of Revenue $437.0M $520.0M
YoY Change
Gross Profit -$383.0M -$465.0M
YoY Change
Gross Profit Margin -709.26% -845.45%
Selling, General & Admin $682.0M $1.242B $98.00M
YoY Change 595.92% 387.06% 180.0%
% of Gross Profit
Research & Development $726.0M $1.850B $255.0M
YoY Change 184.71% 141.51% 147.57%
% of Gross Profit
Depreciation & Amortization $113.0M $197.0M $12.00M
YoY Change 841.67% 579.31%
% of Gross Profit
Operating Expenses $2.071B $3.755B $353.0M
YoY Change 486.69% 267.78% 155.8%
Operating Profit -$2.454B -$4.220B
YoY Change 313.32%
Interest Expense -$21.00M $29.00M -$1.000M
YoY Change 2000.0% 262.5%
% of Operating Profit
Other Income/Expense, Net -$3.000M $663.0M $1.000M
YoY Change -400.0% -66.67%
Pretax Income -$2.461B -$4.688B -$353.0M
YoY Change 597.17% 360.51% 161.48%
Income Tax $0.00 $0.00 $0.00
% Of Pretax Income
Net Earnings -$2.461B -$4.688B -$353.0M
YoY Change 597.17% 360.51% 161.48%
Net Earnings / Revenue -4557.41% -8523.64%
Basic Earnings Per Share -$22.98
Diluted Earnings Per Share -$12.06M -$22.98 -$406.6K
COMMON SHARES
Basic Shares Outstanding 204.0M shares
Diluted Shares Outstanding 204.0M shares

Balance Sheet

Concept 2021 Q4 2021 2020 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $18.13B $18.13B
YoY Change 508.69%
Cash & Equivalents $18.13B $18.13B $2.979B
Short-Term Investments
Other Short-Term Assets $126.0M $126.0M $31.00M
YoY Change 306.45% 240.54%
Inventory $274.0M $274.0M $0.00
Prepaid Expenses
Receivables $26.00M $26.00M $6.000M
Other Receivables $0.00 $0.00
Total Short-Term Assets $18.56B $18.56B $3.016B
YoY Change 515.35% 515.35%
LONG-TERM ASSETS
Property, Plant & Equipment $3.183B $3.411B $1.445B
YoY Change 120.28% 123.67%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $324.0M $324.0M $61.00M
YoY Change 431.15% 431.15%
Total Long-Term Assets $3.735B $3.735B $1.586B
YoY Change 135.5% 135.5%
TOTAL ASSETS
Total Short-Term Assets $18.56B $18.56B $3.016B
Total Long-Term Assets $3.735B $3.735B $1.586B
Total Assets $22.29B $22.29B $4.602B
YoY Change 384.44% 384.44%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $483.0M $483.0M $90.00M
YoY Change 436.67% 436.67%
Accrued Expenses $667.0M $713.0M $443.0M
YoY Change 50.56% 54.66%
Deferred Revenue $74.00M $28.00M
YoY Change 164.29%
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $0.00 $0.00 $28.00M
YoY Change -100.0% -100.0%
Total Short-Term Liabilities $1.313B $1.313B $611.0M
YoY Change 114.89% 114.89%
LONG-TERM LIABILITIES
Long-Term Debt $1.226B $1.226B $47.00M
YoY Change 2508.51% 2508.51%
Other Long-Term Liabilities $23.00M $241.0M $1.000M
YoY Change 2200.0% 186.9%
Total Long-Term Liabilities $1.249B $1.467B $48.00M
YoY Change 2502.08% 1019.85%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.313B $1.313B $611.0M
Total Long-Term Liabilities $1.249B $1.467B $48.00M
Total Liabilities $2.780B $2.780B $742.0M
YoY Change 274.66% 274.66%
SHAREHOLDERS EQUITY
Retained Earnings -$6.374B -$1.686B
YoY Change 278.05%
Common Stock $1.000M $0.00
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $19.51B $19.51B -$1.384B
YoY Change
Total Liabilities & Shareholders Equity $22.29B $22.29B $4.602B
YoY Change 384.44% 384.44%

Cashflow Statement

Concept 2021 Q4 2021 2020 Q4
OPERATING ACTIVITIES
Net Income -$2.461B -$4.688B -$353.0M
YoY Change 597.17% 360.51% 161.48%
Depreciation, Depletion And Amortization $113.0M $197.0M $12.00M
YoY Change 841.67% 579.31%
Cash From Operating Activities -$1.086B -$2.622B -$268.0M
YoY Change 305.22% 209.2%
INVESTING ACTIVITIES
Capital Expenditures -$455.0M $1.794B -$306.0M
YoY Change 48.69% 96.28%
Acquisitions
YoY Change
Other Investing Activities -$4.000M
YoY Change
Cash From Investing Activities -$456.0M -$1.794B -$310.0M
YoY Change 47.1% 96.28%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $2.658B
YoY Change 6.07%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 14.76B $19.83B 0.000
YoY Change 693.12%
NET CHANGE
Cash From Operating Activities -1.086B -$2.622B -268.0M
Cash From Investing Activities -456.0M -$1.794B -310.0M
Cash From Financing Activities 14.76B $19.83B 0.000
Net Change In Cash 13.22B $15.41B -578.0M
YoY Change -2386.85% 1988.35%
FREE CASH FLOW
Cash From Operating Activities -$1.086B -$2.622B -$268.0M
Capital Expenditures -$455.0M $1.794B -$306.0M
Free Cash Flow -$631.0M -$4.416B $38.00M
YoY Change -1760.53% 150.62%

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CY2020Q4 us-gaap Common Stock Shares Outstanding
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CY2021 us-gaap Temporary Equity Stock Issued During Period Value New Issues
TemporaryEquityStockIssuedDuringPeriodValueNewIssues
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CY2021 us-gaap Stock Issued During Period Value New Issues
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-576000000 shares
CY2021 rivn Temporary Equity Value Conversion Of Temporary To Permanent Equity
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CY2021 rivn Stock Issued During Period Value Conversion Of Temporary Equity
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CY2021 us-gaap Stock Issued During Period Value Conversion Of Convertible Securities
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CY2021 us-gaap Share Based Compensation
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570000000 USD
CY2021 us-gaap Net Income Loss
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CY2021Q4 us-gaap Temporary Equity Shares Outstanding
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0 shares
CY2021Q4 us-gaap Temporary Equity Carrying Amount Attributable To Parent
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CY2021Q4 us-gaap Common Stock Shares Outstanding
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CY2021Q4 us-gaap Stockholders Equity
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CY2019 us-gaap Net Income Loss
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-426000000 USD
CY2020 us-gaap Net Income Loss
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-1018000000 USD
CY2021 us-gaap Net Income Loss
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-4688000000 USD
CY2019 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
7000000 USD
CY2020 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
29000000 USD
CY2021 us-gaap Depreciation Depletion And Amortization
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197000000 USD
CY2019 us-gaap Share Based Compensation
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CY2020 us-gaap Share Based Compensation
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CY2021 us-gaap Share Based Compensation
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570000000 USD
CY2019 us-gaap Other Noncash Expense
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CY2020 us-gaap Other Noncash Expense
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0 USD
CY2021 us-gaap Other Noncash Expense
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643000000 USD
CY2021 us-gaap Increase Decrease In Other Noncurrent Liabilities
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18000000 USD
CY2019 rivn Gain Loss On Issuance Of Debt
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0 USD
CY2020 rivn Gain Loss On Issuance Of Debt
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0 USD
CY2021 rivn Gain Loss On Issuance Of Debt
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CY2019 us-gaap Inventory Write Down
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CY2020 us-gaap Inventory Write Down
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CY2021 us-gaap Inventory Write Down
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CY2019 us-gaap Other Noncash Income Expense
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CY2020 us-gaap Other Noncash Income Expense
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CY2021 us-gaap Other Noncash Income Expense
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CY2019 us-gaap Increase Decrease In Accounts Receivable
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CY2020 us-gaap Increase Decrease In Accounts Receivable
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CY2021 us-gaap Increase Decrease In Accounts Receivable
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CY2019 us-gaap Increase Decrease In Inventories
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CY2020 us-gaap Increase Decrease In Inventories
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CY2021 us-gaap Increase Decrease In Inventories
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369000000 USD
CY2019 us-gaap Increase Decrease In Other Current Assets
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8000000 USD
CY2020 us-gaap Increase Decrease In Other Current Assets
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34000000 USD
CY2021 us-gaap Increase Decrease In Other Current Assets
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CY2019 us-gaap Increase Decrease In Other Noncurrent Assets
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5000000 USD
CY2020 us-gaap Increase Decrease In Other Noncurrent Assets
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CY2019 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
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43000000 USD
CY2020 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
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CY2021 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
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CY2019 us-gaap Increase Decrease In Contract With Customer Liability
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14000000 USD
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10000000 USD
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CY2021 us-gaap Increase Decrease In Other Current Liabilities
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CY2019 us-gaap Increase Decrease In Other Noncurrent Liabilities
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CY2020 us-gaap Increase Decrease In Other Noncurrent Liabilities
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CY2019 us-gaap Net Cash Provided By Used In Operating Activities
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CY2019 us-gaap Payments To Acquire Property Plant And Equipment
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CY2020 us-gaap Payments To Acquire Property Plant And Equipment
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CY2021 us-gaap Payments To Acquire Property Plant And Equipment
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CY2019 us-gaap Net Cash Provided By Used In Investing Activities
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CY2020 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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CY2019 us-gaap Proceeds From Issuance Initial Public Offering
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CY2020 us-gaap Proceeds From Issuance Initial Public Offering
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CY2021 us-gaap Proceeds From Issuance Initial Public Offering
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CY2019 us-gaap Proceeds From Issuance Of Common Stock
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CY2020 us-gaap Proceeds From Issuance Of Common Stock
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CY2021 us-gaap Proceeds From Issuance Of Common Stock
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CY2019 us-gaap Proceeds From Convertible Debt
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CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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CY2021 us-gaap Proceeds From Convertible Debt
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CY2019 us-gaap Proceeds From Issuance Of Long Term Debt
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CY2020 us-gaap Proceeds From Issuance Of Long Term Debt
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CY2021 us-gaap Proceeds From Issuance Of Long Term Debt
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CY2019 us-gaap Finance Lease Principal Payments
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CY2020 us-gaap Finance Lease Principal Payments
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CY2021 us-gaap Finance Lease Principal Payments
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CY2019 us-gaap Net Cash Provided By Used In Financing Activities
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CY2020 us-gaap Net Cash Provided By Used In Financing Activities
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2500000000 USD
CY2021 us-gaap Net Cash Provided By Used In Financing Activities
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CY2019 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
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2259000000 USD
CY2020 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
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738000000 USD
CY2021 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
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15412000000 USD
CY2018Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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14000000 USD
CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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2273000000 USD
CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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2273000000 USD
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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3011000000 USD
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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CY2019 us-gaap Interest Paid Net
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CY2019 us-gaap Capital Expenditures Incurred But Not Yet Paid
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CY2020 us-gaap Capital Expenditures Incurred But Not Yet Paid
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CY2021 us-gaap Capital Expenditures Incurred But Not Yet Paid
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CY2020 us-gaap Conversion Of Stock Amount Converted1
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0 USD
CY2021 us-gaap Conversion Of Stock Amount Converted1
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CY2019 rivn Noncash Or Part Noncash Acquisition Noncash Financial Or Equity Instrument Consideration Warrants Issued Amount
NoncashOrPartNoncashAcquisitionNoncashFinancialOrEquityInstrumentConsiderationWarrantsIssuedAmount
13000000 USD
CY2020Q4 us-gaap Operating Lease Liability
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101000000 USD
CY2021Q4 us-gaap Operating Lease Liability
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CY2020 rivn Noncash Or Part Noncash Acquisition Noncash Financial Or Equity Instrument Consideration Warrants Issued Amount
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3000000 USD
CY2021 rivn Noncash Or Part Noncash Acquisition Noncash Financial Or Equity Instrument Consideration Warrants Issued Amount
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0 USD
CY2021 us-gaap Number Of Operating Segments
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1 segment
CY2021 us-gaap Number Of Reportable Segments
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1 segment
CY2021Q4 us-gaap Proceeds From Issuance Initial Public Offering
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13500000000 USD
CY2021 us-gaap Use Of Estimates
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Accounting estimates are an integral part of the consolidated financial statements. These estimates require the use of judgments and assumptions that may affect the reported amounts of assets, liabilities, and expenses in the periods presented. Estimates are used for, but not limited to, inventory valuation, property, plant, and equipment, leases, income taxes, stock-based compensation, and commitments and contingencies. The Company believes that the accounting estimates and related assumptions employed by the Company are appropriate and the resulting balances are reasonable under the circumstances. However, due to the inherent uncertainties involved in making estimates, the actual results could differ from the original estimates, requiring adjustments to these balances in future periods.
CY2020Q4 us-gaap Restricted Cash
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32000000 USD
CY2021Q4 us-gaap Restricted Cash
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290000000 USD
CY2021 us-gaap Inventory Write Down
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95000000 USD
CY2021Q4 us-gaap Inventory Net
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274000000 USD
CY2021Q4 rivn Stock Issued During Period Shares Charitable Donation
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8000000 shares
CY2021Q4 rivn Charitable Cash Donation
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20000000 USD
CY2021 us-gaap Other Expenses
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663000000 USD
CY2021 us-gaap Concentration Risk Credit Risk
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<div><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Counterparty Credit Risk </span></div><div><span><br/></span></div><div><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Financial instruments that potentially subject the Company to concentration of counterparty credit risk consist of cash and cash equivalents, restricted cash, deposits, and loans. We are exposed to credit risk to the extent that our cash balance with a financial institution is in excess of Federal Deposit Insurance Company insurance limits. The degree of counterparty credit risk will vary based on many factors including the duration of the transaction and the contractual terms of the agreement. Management evaluates and approves credit standards and oversees the credit risk management function related to investments. As of December 31, 2020 and 2021, all of the Company’s cash and cash equivalents were placed at financial institutions that management believes are of high credit quality. These amounts are typically in excess of insured limits. </span></div><div><span><br/></span></div><div><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Supply Risk</span><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span></div><div><span><br/></span></div><div><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company is subject to risks related to its dependence on its suppliers, the majority of which are single-source providers of parts or components for the Company’s products. Any inability of the Company’s suppliers to deliver necessary product components, including semiconductors, at timing, prices, quality, and volumes that are acceptable to the Company could have a material and adverse impact on Rivian’s business, growth prospects, and financial and operating results. </span></div><div><span><br/></span></div><div><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company’s manufacturing facility in Normal, Illinois (the “Normal Factory”) is operational, and Rivian is continuing to invest in the Normal Factory. The Company’s ability to sustain production depends, among other things, on the readiness and solvency of suppliers and vendors through all macroeconomic factors, including factors resulting from the COVID-19 pandemic.</span></div>
CY2021Q4 us-gaap Property Plant And Equipment Net
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3416000000 USD
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38000000 USD
CY2021Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
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233000000 USD
CY2020Q4 us-gaap Property Plant And Equipment Net
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1445000000 USD
CY2019 us-gaap Depreciation Depletion And Amortization
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7000000 USD
CY2020 us-gaap Depreciation Depletion And Amortization
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29000000 USD
CY2021 us-gaap Depreciation Depletion And Amortization
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197000000 USD
CY2020Q4 us-gaap Operating Lease Right Of Use Asset
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80000000 USD
CY2021Q4 us-gaap Operating Lease Right Of Use Asset
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18000000 USD
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46000000 USD
CY2020Q4 us-gaap Operating Lease Liability Noncurrent
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83000000 USD
CY2021Q4 us-gaap Operating Lease Liability Noncurrent
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218000000 USD
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
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54000000 USD
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53000000 USD
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49000000 USD
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44000000 USD
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37000000 USD
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65000000 USD
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due
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302000000 USD
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38000000 USD
CY2021Q4 us-gaap Operating Lease Liability
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264000000 USD
CY2021 us-gaap Lease Cost
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CY2021 us-gaap Interest Expense Debt Excluding Amortization
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CY2019 us-gaap Interest Expense Debt
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CY2020Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
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0.038
CY2021Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
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0.040
CY2020 us-gaap Operating Lease Payments
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CY2021 us-gaap Operating Lease Payments
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CY2021 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
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178000000 USD
CY2020Q4 us-gaap Debt Instrument Carrying Amount
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79000000 USD
CY2021Q4 us-gaap Debt Instrument Carrying Amount
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1250000000 USD
CY2020Q4 us-gaap Deferred Finance Costs Net
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4000000 USD
CY2021Q4 us-gaap Deferred Finance Costs Net
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24000000 USD
CY2020Q4 us-gaap Long Term Debt
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75000000 USD
CY2021Q4 us-gaap Long Term Debt
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CY2020Q4 us-gaap Long Term Debt Current
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28000000 USD
CY2021Q4 us-gaap Long Term Debt Current
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0 USD
CY2020Q4 us-gaap Long Term Debt Noncurrent
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47000000 USD
CY2021Q4 us-gaap Long Term Debt Noncurrent
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1226000000 USD
CY2020Q4 us-gaap Debt Instrument Interest Rate Stated Percentage
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0.045
CY2019 us-gaap Amortization Of Financing Costs And Discounts
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22000000 USD
CY2020 us-gaap Amortization Of Financing Costs And Discounts
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3000000 USD
CY2021 us-gaap Amortization Of Financing Costs And Discounts
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7000000 USD
CY2019 us-gaap Interest Expense Debt Excluding Amortization
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12000000 USD
CY2020 us-gaap Interest Expense Debt Excluding Amortization
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5000000 USD
CY2020Q4 us-gaap Accrued Liabilities Current
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443000000 USD
CY2021Q4 us-gaap Accrued Liabilities Current
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667000000 USD
CY2019 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
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-427000000 USD
CY2020 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
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-1021000000 USD
CY2021 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
-4590000000 USD
CY2019 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
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1000000 USD
CY2020 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
3000000 USD
CY2021 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
-98000000 USD
CY2019 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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-426000000 USD
CY2020 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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-1018000000 USD
CY2021 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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-4688000000 USD
CY2021Q4 us-gaap Deferred Tax Assets Valuation Allowance
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1458000000 USD
CY2019 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
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-105000000 USD
CY2020 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
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-293000000 USD
CY2021Q4 rivn Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested And Expected To Vest Outstanding Number
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37000000 shares
CY2021 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
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-988000000 USD
CY2019 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
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-90000000 USD
CY2020 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
-214000000 USD
CY2021 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
-984000000 USD
CY2019 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
-20000000 USD
CY2020 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
-52000000 USD
CY2021 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
-236000000 USD
CY2019 rivn Effective Income Tax Rate Reconciliation Permanent Items Amount
EffectiveIncomeTaxRateReconciliationPermanentItemsAmount
1000000 USD
CY2020 rivn Effective Income Tax Rate Reconciliation Permanent Items Amount
EffectiveIncomeTaxRateReconciliationPermanentItemsAmount
4000000 USD
CY2021 rivn Effective Income Tax Rate Reconciliation Permanent Items Amount
EffectiveIncomeTaxRateReconciliationPermanentItemsAmount
8000000 USD
CY2019 us-gaap Income Tax Reconciliation Nondeductible Expense Charitable Contributions
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