XML 21 R11.htm IDEA: XBRL DOCUMENT
v3.21.1

Supplemental Financial Statement Information | 3 Months Ended
--- | ---
Mar. 31, 2021
Additional Financial Information Disclosure [Abstract] |
Supplemental Financial Statement Information | Supplemental Financial Statement Information Cash Equivalents and Short-Term Investments The following tables summarize the cost or amortized cost, gross unrealized gain, gross unrealized loss and fair value of the Company’s cash equivalents and short-term investments as of the dates indicated (in thousands):
| March 31, 2021
| Cost or Amortized Cost |  | Unrealized |  | Estimated Fair Value
|  | Gains |  | Losses |
Unrestricted Balances(1) |  |  |  |  |  |  |
Money market funds | $ | 88,630 |  |  | $ | — |  |  | $ | — |  |  | $ | 88,630 |
Money market deposit accounts | 180,041 |  |  | — |  |  | — |  |  | 180,041 |
Term deposits | 640,000 |  |  | — |  |  | — |  |  | 640,000 |
Certificates of deposit | 864,376 |  |  | 238 |  |  | (16) |  |  | 864,598 |
Commercial paper | 312,869 |  |  | 18 |  |  | (14) |  |  | 312,873 |
Corporate bonds | 107,642 |  |  | — |  |  | (22) |  |  | 107,620 |
Total unrestricted cash equivalents and short-term investments | 2,193,558 |  |  | 256 |  |  | (52) |  |  | 2,193,762 |
Restricted Balances(2) |  |  |  |  |  |  |
Money market funds | 126,649 |  |  | — |  |  | — |  |  | 126,649 |
Money market deposit accounts | — |  |  | — |  |  | — |  |  | — |
Term deposits | 6,506 |  |  | — |  |  | — |  |  | 6,506 |
Certificates of deposit | 606,178 |  |  | 164 |  |  | (11) |  |  | 606,331 |
Commercial paper | 258,627 |  |  | 18 |  |  | (8) |  |  | 258,637 |
Corporate bonds | 68,953 |  |  | — |  |  | (12) |  |  | 68,941 |
Total restricted cash equivalents and investments | 1,066,913 |  |  | 182 |  |  | (31) |  |  | 1,067,064 |
Total unrestricted and restricted cash equivalents and investments | $ | 3,260,471 |  |  | $ | 438 |  |  | $ | (83) |  |  | $ | 3,260,826 |
_______________ (1)Excludes $44.2 million of cash, which is included within the $2.2 billion of cash and cash equivalents and short-term investments on the condensed consolidated balance sheets. (2)Excludes $57.0 million of restricted cash, which is included within the $1.1 billion of restricted cash and cash equivalents and restricted short-term investments on the condensed consolidated balance sheets.
| December 31, 2020
| Cost or Amortized Cost |  | Unrealized |  | Estimated Fair Value
|  | Gains |  | Losses |
Unrestricted Balances(1) |  |  |  |  |  |  |
Money market deposit accounts | $ | 174,347 |  |  | $ | — |  |  | $ | — |  |  | $ | 174,347 |
Term deposits | 601,000 |  |  | — |  |  | — |  |  | 601,000 |
Certificates of deposit | 677,602 |  |  | 178 |  |  | (4) |  |  | 677,776 |
Commercial paper | 376,771 |  |  | 38 |  |  | (20) |  |  | 376,789 |
Corporate bonds | 287,445 |  |  | 115 |  |  | (41) |  |  | 287,519 |
Total unrestricted cash equivalents and short-term investments | 2,117,165 |  |  | 331 |  |  | (65) |  |  | 2,117,431 |
Restricted Balances(2) |  |  |  |  |  |  |
Money market funds | 24,757 |  |  | — |  |  | — |  |  | 24,757 |
Money market deposit accounts | 162 |  |  | — |  |  | — |  |  | 162 |
Term deposits | 6,506 |  |  | — |  |  | — |  |  | 6,506 |
Certificates of deposit | 481,154 |  |  | 213 |  |  | (3) |  |  | 481,364 |
Commercial paper | 469,193 |  |  | 57 |  |  | (10) |  |  | 469,240 |
Corporate bonds | 184,560 |  |  | 67 |  |  | (26) |  |  | 184,601 |
Total restricted cash equivalents and investments | 1,166,332 |  |  | 337 |  |  | (39) |  |  | 1,166,630 |
Total unrestricted and restricted cash equivalents and investments | $ | 3,283,497 |  |  | $ | 668 |  |  | $ | (104) |  |  | $ | 3,284,061 |
_______________ (1)Excludes $133.6 million of cash, which is included within the $2.3 billion of cash and cash equivalents and short-term investments on the condensed consolidated balance sheets. (2)Excludes $53.8 million of restricted cash, which is included within the $1.2 billion of restricted cash and cash equivalents and restricted short-term investments on the condensed consolidated balance sheets. The Company’s short-term investments consist of available-for-sale debt securities and term deposits. The term deposits are at cost, which approximates fair value. The weighted-average remaining maturity of the Company’s investment portfolio was less than one year as of the periods presented. No individual security incurred continuous unrealized losses for greater than 12 months. The Company purchases investment grade marketable debt securities which are rated by nationally recognized credit rating organizations in accordance with its investment policy. This policy is designed to minimize the Company's exposure to credit losses. As of March 31, 2021, the credit-quality of the Company’s marketable available-for-sale debt securities had remained stable. The unrealized losses recognized on marketable available-for-sale debt securities as of March 31, 2021 was primarily related to the continued market volatility associated with COVID-19. The contractual terms of these investments do not permit the issuer to settle the securities at a price less than the amortized cost basis of the investments and it is not expected that the investments would be settled at a price less than their amortized cost basis. The Company does not intend to sell the investments and it is not more likely than not that the Company will be required to sell the investments before recovery of their amortized cost basis. The Company is not aware of any specific event or circumstance that would require the Company to change its assessment of credit losses for any marketable available-for-sale debt security as of March 31, 2021. These estimates may change, as new events occur and additional information is obtained, and will be recognized in the condensed consolidated financial statements as soon as they become known. No credit losses were recognized as of March 31, 2021 for the Company’s marketable and non-marketable debt securities. The following table summarizes the Company’s available-for-sale debt securities in an unrealized loss position for which no allowance for credit losses was recorded, aggregated by major security type (in thousands):
| March 31, 2021
| Estimated Fair Value |  | Unrealized Losses
Certificates of deposit | $ | 215,173 |  |  | $ | (27) |
Corporate bonds | 175,659 |  |  | (34) |
Commercial paper | 310,962 |  |  | (22) |
Total available-for-sale debt securities in an unrealized loss position | $ | 701,794 |  |  | $ | (83) |
Accrued and Other Current Liabilities Accrued and other current liabilities consisted of the following as of the dates indicated (in thousands):
| March 31, 2021 |  | December 31, 2020
Insurance-related accruals | $ | 277,011 |  |  | $ | 269,849 |
Legal accruals | 250,502 |  |  | 226,408 |
Ride-related accruals | 225,420 |  |  | 196,439 |
Long-term debt, current | 37,567 |  |  | 35,760 |
Insurance claims payable and related fees | 31,994 |  |  | 28,318 |
Other | 215,875 |  |  | 197,234 |
Accrued and other current liabilities | $ | 1,038,369 |  |  | $ | 954,008 |
Insurance Reserves The following table provides a rollforward of the insurance reserve for the periods presented (in thousands):
| Three Months Ended March 31,
| 2021 |  | 2020
Beginning balance | $ | 987,064 |  |  | $ | 1,378,462 |
Losses paid | (121,161) |  |  | (205,946) |
Change in estimates for prior periods | 128,045 |  |  | 58,359 |
Transfer of certain legacy auto insurance liabilities | — |  |  | (407,885) |
Reserves for current period | 64,468 |  |  | 152,142 |
Ending balance | $ | 1,058,416 |  |  | $ | 975,132 |
On March 31, 2020, the Company’s wholly-owned subsidiary, PVIC, entered into a Novation Agreement with Clarendon, and certain underwriting companies of Zurich. Pursuant to term of the Novation, on the effective date March 31, 2020, the obligations of PVIC as reinsurer to Zurich for the Legacy Auto Liability, were assigned to, assumed by, and novated to Clarendon, for cash consideration of $465.0 million. As a result of the Novation, the Company’s obligations related to the Legacy Auto Liability were fully extinguished and novated to Clarendon on March 31, 2020. The Company paid the $465.0 million cash consideration to Clarendon on April 3, 2020. The Company derecognized $407.9 million of insurance reserves liabilities and recognized a loss of $64.7 million for the net cost of the Novation in the condensed consolidated statements of operations for the three months ended March 31, 2020, with $62.5 million in cost of revenue and $2.2 million in general and administrative expenses. In conjunction with the Novation, Clarendon and PVIC executed a Retrocession Agreement, pursuant to which PVIC will reinsure Clarendon’s losses related to the Legacy Auto Liability in excess of an aggregate limit of $816.0 million. Other Income (Expense), Net The following table sets forth the primary components of other income (expense), net as reported on the condensed consolidated statements of operations (in thousands):
| Three Months Ended March 31,
| 2021 |  | 2020
Interest income(1) | $ | 2,879 |  |  | $ | 21,327 |
Gain (loss) on sale of securities, net | 701 |  |  | (962) |
Foreign currency exchange gains (losses), net | (588) |  |  | (514) |
Other, net | 613 |  |  | (682) |
Other income (expense), net | $ | 3,605 |  |  | $ | 19,169 |
_______________ (1)Interest income was reported as a separate line item on the condensed consolidated statement of operations in periods prior to the second quarter of 2020.

X
- Definition Additional financial information disclosure. + References No definition available. + Details
Name: | lyft_AdditionalFinancialInformationDisclosureAbstract
Namespace Prefix: | lyft_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosures of supplemental information, including descriptions and amounts, related to the balance sheet, income statement, and/or cash flow statement. + References No definition available. + Details
Name: | us-gaap_AdditionalFinancialInformationDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration