P70 "cash is received for the full price of the vehicle and is recorded within resale value guarantees for the long-term portion and deferred revenue for the current portion. ...  Cash received for these vehicles, net of revenue recognized during the period, is classified as collateralized lease borrowings within cash flows from financing activities in the consolidated statement of cash flows."  租赁的车的cash只有一小部分直接算入revnue (经营现金流), 被RVG的部分算的是财务现金流里面的collaterized lease borrowing。车买给lease partnet了，inventory 减少了，收入的cash只有一部分算入经营现金流，所以会hurt operation cash flow， 但是financing cashlow增加了。这个program的目的就是通过高Residual Value Grantee (RVG)鼓励lease partner把cash先给Tesla(算在operation cashflow and financing cashflow里面，反正cash是到手了)， 以后lease到期了RVG太高的话，再拿cash去填窟窿（不过这个都是后面的问题了，眼前的cash问题解决了再说）。//@qc哈哈哈:回复@qc哈哈哈:还有一个疑问，特斯拉的资产负债表里面也涉及到经营租赁车辆，总价值也很大，相比特斯拉一年的销售额算是比较大的数字。请大家不吝赐教。谢谢！