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Workhorse Group Inc. – ‘10-Q’ for 3/31/20 – ‘EX-101.CAL’

On:  Wednesday, 5/6/20, at 8:56am ET   ·   For:  3/31/20   ·   Accession #:  1628280-20-6544   ·   File #:  1-37673

Previous ‘10-Q’:  ‘10-Q’ on 11/8/19 for 9/30/19   ·   Next:  ‘10-Q’ on 8/10/20 for 6/30/20   ·   Latest:  ‘10-Q’ on 11/14/23 for 9/30/23   ·   1 Reference:  By:  Workhorse Group Inc. – ‘S-3’ on 10/28/20

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  As Of               Filer                 Filing    For·On·As Docs:Size             Issuer                      Filing Agent

 5/06/20  Workhorse Group Inc.              10-Q        3/31/20   62:4.5M                                   Workiva Inc Wde… FA01/FA

Quarterly Report   —   Form 10-Q   —   Sect. 13 / 15(d) – SEA’34
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 10-Q        Quarterly Report                                    HTML    492K 
 2: EX-31.1     Certification -- §302 - SOA'02                      HTML     23K 
 3: EX-31.2     Certification -- §302 - SOA'02                      HTML     23K 
 4: EX-32.1     Certification -- §906 - SOA'02                      HTML     19K 
 5: EX-32.2     Certification -- §906 - SOA'02                      HTML     19K 
36: R1          Document and Entity Information                     HTML     70K 
52: R2          Condensed Consolidated Balance Sheets               HTML    102K 
47: R3          Condensed Consolidated Balance Sheets               HTML     40K 
                (Parenthetical)                                                  
13: R4          Condensed Consolidated Statements of Operations     HTML     74K 
                (Unaudited)                                                      
35: R5          Statement of Comprehensive Income (Statement)       HTML     31K 
51: R6          Condensed Consolidated Statements of Stockholders   HTML     65K 
                Equity (Deficit) (Unaudited)                                     
46: R7          Condensed Consolidated Statements of Cash Flows     HTML     97K 
                (Unaudited)                                                      
14: R8          Summary of Significant Accounting Principles        HTML     29K 
34: R9          Inventory                                           HTML     32K 
45: R10         Investments in LMC                                  HTML     29K 
61: R11         Revenue                                             HTML     34K 
26: R12         Long-Term Debt                                      HTML     37K 
19: R13         Mandatory Redeemable Series B Preferred Stock       HTML     27K 
44: R14         Stock-Based Compensation                            HTML     66K 
60: R15         Income Taxes                                        HTML     21K 
24: R16         Earnings Per Share                                  HTML     37K 
18: R17         Recent Accounting Developments                      HTML     21K 
43: R18         Share Holders Equity (Deficit)                      HTML     35K 
62: R19         Other Transaction                                   HTML     22K 
38: R20         Fair Value Measurement                              HTML     43K 
17: R21         Subsequent Events                                   HTML     24K 
50: R22         Summary of Significant Accounting Principles        HTML     36K 
                (Policies)                                                       
56: R23         Inventory (Tables)                                  HTML     34K 
37: R24         Revenue (Tables)                                    HTML     30K 
16: R25         Long-Term Debt (Tables)                             HTML     32K 
49: R26         Stock-Based Compensation (Tables)                   HTML     67K 
55: R27         Earnings Per Share (Tables)                         HTML     35K 
39: R28         Share Holders Equity (Deficit) (Tables)             HTML     29K 
15: R29         Fair Value Measurement (Tables)                     HTML     38K 
20: R30         Inventory (Details)                                 HTML     34K 
28: R31         Investments, All Other Investments (Details)        HTML     38K 
58: R32         Revenue (Details)                                   HTML     27K 
40: R33         Long-Term Debt (Details)                            HTML     29K 
21: R34         Long-Term Debt (Details Textual)                    HTML     77K 
29: R35         Mandatory Redeemable Series B Preferred Stock       HTML     51K 
                (Details)                                                        
59: R36         Stock Based Compensation (Details)                  HTML     34K 
42: R37         Stock Based Compensation - Share Based              HTML     26K 
                Compensation Expense (Details)                                   
22: R38         Stock Based Compensation - Stock Option Activity    HTML     60K 
                (Details)                                                        
27: R39         Stock Based Compensation - Restricted Stock         HTML     43K 
                (Details)                                                        
11: R40         Earnings Per Share (Details)                        HTML     44K 
32: R41         Share Holders Equity (Deficit) (Details Textual)    HTML     55K 
53: R42         Share Holders Equity (Deficit) (Details)            HTML     37K 
48: R43         Other Transaction (Details)                         HTML     36K 
12: R44         Fair Value Measurement - Warrants (Details)         HTML     26K 
33: R45         Fair Value Measurement - Convertible Note           HTML     31K 
                (Details)                                                        
54: R46         Subsequent Events (Details)                         HTML     24K 
25: R9999       Uncategorized Items - wkhs-20200331.htm             HTML     20K 
30: XML         IDEA XML File -- Filing Summary                      XML    105K 
23: XML         XBRL Instance -- wkhs-20200331_htm                   XML    852K 
57: EXCEL       IDEA Workbook of Financial Reports                  XLSX     54K 
 7: EX-101.CAL  XBRL Calculations -- wkhs-20200331_cal               XML    152K 
 8: EX-101.DEF  XBRL Definitions -- wkhs-20200331_def                XML    459K 
 9: EX-101.LAB  XBRL Labels -- wkhs-20200331_lab                     XML   1.13M 
10: EX-101.PRE  XBRL Presentations -- wkhs-20200331_pre              XML    676K 
 6: EX-101.SCH  XBRL Schema -- wkhs-20200331                         XSD    131K 
31: JSON        XBRL Instance as JSON Data -- MetaLinks              233±   351K 
41: ZIP         XBRL Zipped Folder -- 0001628280-20-006544-xbrl      Zip    188K 


‘EX-101.CAL’   —   XBRL Calculations — wkhs-20200331_cal


This Exhibit is an XBRL XML File.


                                                                                                                                                                                
<?xml version="1.0" encoding="windows-1252"?>
<!-- XBRL Document Created with Wdesk from Workiva -->
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<link:roleRef roleURI="http://workhorse.com/role/DocumentandEntityInformation" xlink:type="simple" xlink:href="wkhs-20200331.xsd#DocumentandEntityInformation"/>
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<link:roleRef roleURI="http://workhorse.com/role/CondensedConsolidatedBalanceSheets" xlink:type="simple" xlink:href="wkhs-20200331.xsd#CondensedConsolidatedBalanceSheets"/>
<link:calculationLink xlink:role="http://workhorse.com/role/CondensedConsolidatedBalanceSheets" xlink:type="extended">
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<link:loc xlink:type="locator" xlink:label="loc_us-gaap_LiabilitiesAndStockholdersEquity_e340db55-9463-4b11-acdc-24b36d399b2e" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_LiabilitiesAndStockholdersEquity"/>
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<link:loc xlink:type="locator" xlink:label="loc_us-gaap_LongTermDebtNoncurrent_16b951ce-8054-45be-b972-1aa681b9cd18" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_LongTermDebtNoncurrent"/>
<link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_DebtInstrumentCarryingAmount_1c35c6af-e830-49c2-908a-3aaf9973acd6" xlink:to="loc_us-gaap_LongTermDebtNoncurrent_16b951ce-8054-45be-b972-1aa681b9cd18" xlink:type="arc"/>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_OtherLongTermDebtCurrent_6b05418f-339e-4336-8167-6815c1ad0d2e" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_OtherLongTermDebtCurrent"/>
<link:calculationArc order="2" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_DebtInstrumentCarryingAmount_1c35c6af-e830-49c2-908a-3aaf9973acd6" xlink:to="loc_us-gaap_OtherLongTermDebtCurrent_6b05418f-339e-4336-8167-6815c1ad0d2e" xlink:type="arc"/>
</link:calculationLink>
<link:roleRef roleURI="http://workhorse.com/role/LongTermDebtDetailsTextual" xlink:type="simple" xlink:href="wkhs-20200331.xsd#LongTermDebtDetailsTextual"/>
<link:calculationLink xlink:role="http://workhorse.com/role/LongTermDebtDetailsTextual" xlink:type="extended"/>
<link:roleRef roleURI="http://workhorse.com/role/MandatoryRedeemableSeriesBPreferredStock" xlink:type="simple" xlink:href="wkhs-20200331.xsd#MandatoryRedeemableSeriesBPreferredStock"/>
<link:calculationLink xlink:role="http://workhorse.com/role/MandatoryRedeemableSeriesBPreferredStock" xlink:type="extended"/>
<link:roleRef roleURI="http://workhorse.com/role/MandatoryRedeemableSeriesBPreferredStockDetails" xlink:type="simple" xlink:href="wkhs-20200331.xsd#MandatoryRedeemableSeriesBPreferredStockDetails"/>
<link:calculationLink xlink:role="http://workhorse.com/role/MandatoryRedeemableSeriesBPreferredStockDetails" xlink:type="extended"/>
<link:roleRef roleURI="http://workhorse.com/role/StockBasedCompensation" xlink:type="simple" xlink:href="wkhs-20200331.xsd#StockBasedCompensation"/>
<link:calculationLink xlink:role="http://workhorse.com/role/StockBasedCompensation" xlink:type="extended"/>
<link:roleRef roleURI="http://workhorse.com/role/StockBasedCompensationTables" xlink:type="simple" xlink:href="wkhs-20200331.xsd#StockBasedCompensationTables"/>
<link:calculationLink xlink:role="http://workhorse.com/role/StockBasedCompensationTables" xlink:type="extended"/>
<link:roleRef roleURI="http://workhorse.com/role/StockBasedCompensationDetails" xlink:type="simple" xlink:href="wkhs-20200331.xsd#StockBasedCompensationDetails"/>
<link:calculationLink xlink:role="http://workhorse.com/role/StockBasedCompensationDetails" xlink:type="extended"/>
<link:roleRef roleURI="http://workhorse.com/role/StockBasedCompensationShareBasedCompensationExpenseDetails" xlink:type="simple" xlink:href="wkhs-20200331.xsd#StockBasedCompensationShareBasedCompensationExpenseDetails"/>
<link:calculationLink xlink:role="http://workhorse.com/role/StockBasedCompensationShareBasedCompensationExpenseDetails" xlink:type="extended"/>
<link:roleRef roleURI="http://workhorse.com/role/StockBasedCompensationStockOptionActivityDetails" xlink:type="simple" xlink:href="wkhs-20200331.xsd#StockBasedCompensationStockOptionActivityDetails"/>
<link:calculationLink xlink:role="http://workhorse.com/role/StockBasedCompensationStockOptionActivityDetails" xlink:type="extended"/>
<link:roleRef roleURI="http://workhorse.com/role/StockBasedCompensationRestrictedStockDetails" xlink:type="simple" xlink:href="wkhs-20200331.xsd#StockBasedCompensationRestrictedStockDetails"/>
<link:calculationLink xlink:role="http://workhorse.com/role/StockBasedCompensationRestrictedStockDetails" xlink:type="extended"/>
<link:roleRef roleURI="http://workhorse.com/role/IncomeTaxes" xlink:type="simple" xlink:href="wkhs-20200331.xsd#IncomeTaxes"/>
<link:calculationLink xlink:role="http://workhorse.com/role/IncomeTaxes" xlink:type="extended"/>
<link:roleRef roleURI="http://workhorse.com/role/EarningsPerShare" xlink:type="simple" xlink:href="wkhs-20200331.xsd#EarningsPerShare"/>
<link:calculationLink xlink:role="http://workhorse.com/role/EarningsPerShare" xlink:type="extended"/>
<link:roleRef roleURI="http://workhorse.com/role/EarningsPerShareTables" xlink:type="simple" xlink:href="wkhs-20200331.xsd#EarningsPerShareTables"/>
<link:calculationLink xlink:role="http://workhorse.com/role/EarningsPerShareTables" xlink:type="extended"/>
<link:roleRef roleURI="http://workhorse.com/role/EarningsPerShareDetails" xlink:type="simple" xlink:href="wkhs-20200331.xsd#EarningsPerShareDetails"/>
<link:calculationLink xlink:role="http://workhorse.com/role/EarningsPerShareDetails" xlink:type="extended">
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding_6d1c5f81-8521-401d-afb9-a7ed9f4a69eb" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding"/>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_WeightedAverageNumberDilutedSharesOutstandingAdjustment_c631042b-9887-4781-a6c4-b8aeeec9ae95" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_WeightedAverageNumberDilutedSharesOutstandingAdjustment"/>
<link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding_6d1c5f81-8521-401d-afb9-a7ed9f4a69eb" xlink:to="loc_us-gaap_WeightedAverageNumberDilutedSharesOutstandingAdjustment_c631042b-9887-4781-a6c4-b8aeeec9ae95" xlink:type="arc"/>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_WeightedAverageNumberOfSharesOutstandingBasic_806a0ebf-e781-4a92-9f84-6769c4c9d46e" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_WeightedAverageNumberOfSharesOutstandingBasic"/>
<link:calculationArc order="2" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding_6d1c5f81-8521-401d-afb9-a7ed9f4a69eb" xlink:to="loc_us-gaap_WeightedAverageNumberOfSharesOutstandingBasic_806a0ebf-e781-4a92-9f84-6769c4c9d46e" xlink:type="arc"/>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic_99e75801-5fe8-44d6-a1dd-8ba89dc9e875" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic"/>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_NetIncomeLoss_c0778c1d-278a-4ccf-8c34-67905fbfb7d3" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_NetIncomeLoss"/>
<link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic_99e75801-5fe8-44d6-a1dd-8ba89dc9e875" xlink:to="loc_us-gaap_NetIncomeLoss_c0778c1d-278a-4ccf-8c34-67905fbfb7d3" xlink:type="arc"/>
<link:loc xlink:type="locator" xlink:label="loc_us-gaap_Dividends_f1eff937-2f19-43c6-8a0d-007777077279" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_Dividends"/>
<link:calculationArc order="2" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic_99e75801-5fe8-44d6-a1dd-8ba89dc9e875" xlink:to="loc_us-gaap_Dividends_f1eff937-2f19-43c6-8a0d-007777077279" xlink:type="arc"/>
</link:calculationLink>
<link:roleRef roleURI="http://workhorse.com/role/RecentAccountingDevelopments" xlink:type="simple" xlink:href="wkhs-20200331.xsd#RecentAccountingDevelopments"/>
<link:calculationLink xlink:role="http://workhorse.com/role/RecentAccountingDevelopments" xlink:type="extended"/>
<link:roleRef roleURI="http://workhorse.com/role/ShareHoldersEquityDeficit" xlink:type="simple" xlink:href="wkhs-20200331.xsd#ShareHoldersEquityDeficit"/>
<link:calculationLink xlink:role="http://workhorse.com/role/ShareHoldersEquityDeficit" xlink:type="extended"/>
<link:roleRef roleURI="http://workhorse.com/role/ShareHoldersEquityDeficitTables" xlink:type="simple" xlink:href="wkhs-20200331.xsd#ShareHoldersEquityDeficitTables"/>
<link:calculationLink xlink:role="http://workhorse.com/role/ShareHoldersEquityDeficitTables" xlink:type="extended"/>
<link:roleRef roleURI="http://workhorse.com/role/ShareHoldersEquityDeficitDetailsTextual" xlink:type="simple" xlink:href="wkhs-20200331.xsd#ShareHoldersEquityDeficitDetailsTextual"/>
<link:calculationLink xlink:role="http://workhorse.com/role/ShareHoldersEquityDeficitDetailsTextual" xlink:type="extended"/>
<link:roleRef roleURI="http://workhorse.com/role/ShareHoldersEquityDeficitDetails" xlink:type="simple" xlink:href="wkhs-20200331.xsd#ShareHoldersEquityDeficitDetails"/>
<link:calculationLink xlink:role="http://workhorse.com/role/ShareHoldersEquityDeficitDetails" xlink:type="extended"/>
<link:roleRef roleURI="http://workhorse.com/role/OtherTransaction" xlink:type="simple" xlink:href="wkhs-20200331.xsd#OtherTransaction"/>
<link:calculationLink xlink:role="http://workhorse.com/role/OtherTransaction" xlink:type="extended"/>
<link:roleRef roleURI="http://workhorse.com/role/OtherTransactionDetails" xlink:type="simple" xlink:href="wkhs-20200331.xsd#OtherTransactionDetails"/>
<link:calculationLink xlink:role="http://workhorse.com/role/OtherTransactionDetails" xlink:type="extended"/>
<link:roleRef roleURI="http://workhorse.com/role/FairValueMeasurement" xlink:type="simple" xlink:href="wkhs-20200331.xsd#FairValueMeasurement"/>
<link:calculationLink xlink:role="http://workhorse.com/role/FairValueMeasurement" xlink:type="extended"/>
<link:roleRef roleURI="http://workhorse.com/role/FairValueMeasurementTables" xlink:type="simple" xlink:href="wkhs-20200331.xsd#FairValueMeasurementTables"/>
<link:calculationLink xlink:role="http://workhorse.com/role/FairValueMeasurementTables" xlink:type="extended"/>
<link:roleRef roleURI="http://workhorse.com/role/FairValueMeasurementWarrantsDetails" xlink:type="simple" xlink:href="wkhs-20200331.xsd#FairValueMeasurementWarrantsDetails"/>
<link:calculationLink xlink:role="http://workhorse.com/role/FairValueMeasurementWarrantsDetails" xlink:type="extended"/>
<link:roleRef roleURI="http://workhorse.com/role/FairValueMeasurementConvertibleNoteDetails" xlink:type="simple" xlink:href="wkhs-20200331.xsd#FairValueMeasurementConvertibleNoteDetails"/>
<link:calculationLink xlink:role="http://workhorse.com/role/FairValueMeasurementConvertibleNoteDetails" xlink:type="extended"/>
<link:roleRef roleURI="http://workhorse.com/role/SubsequentEvents" xlink:type="simple" xlink:href="wkhs-20200331.xsd#SubsequentEvents"/>
<link:calculationLink xlink:role="http://workhorse.com/role/SubsequentEvents" xlink:type="extended"/>
<link:roleRef roleURI="http://workhorse.com/role/SubsequentEventsDetails" xlink:type="simple" xlink:href="wkhs-20200331.xsd#SubsequentEventsDetails"/>
<link:calculationLink xlink:role="http://workhorse.com/role/SubsequentEventsDetails" xlink:type="extended"/>
</link:linkbase>


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10/28/20  Workhorse Group Inc.              S-3                    3:283K                                   EdgarAgents LLC/FA
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