XML 73 R50.htm IDEA: XBRL DOCUMENT
v3.20.4

Income taxes (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2019
Schedule of financial reporting purpose, loss before income tax | For financial reporting purposes, loss before income taxes includes the following components:
|  | Year Ended December 31, |
|  | 2019 |  |  | 2018 |
Domestic |  | $ | 94,718 |  |  | $ | 79,550 |
Foreign |  |  | — |  |  |  | — |
Loss before income taxes |  | $ | 94,718 |  |  | $ | 79,550 |
Schedule of Reconciliation of the Statutory Federal Income Tax Expense | Reconciliation between the effective tax rate on income from continuing operations and the statutory tax rate of 21% is as follows:
|  | Year Ended December 31, |
|  | 2019 |  |  | 2018 |
U.S. federal provision at statutory rate |  |  | 21.0 | % |  |  | 21.0 | %
State income taxes, net of federal benefit |  |  | 2.9 |  |  |  | 3.7 |
Tax credits |  |  | 1.9 |  |  |  | 2.2 |
Permanent items |  |  | (7.4 | ) |  |  | (3.9 | )
Uncertain tax benefits |  |  | (0.9 | ) |  |  | (1.1 | )
Change in valuation allowance |  |  | (17.5 | ) |  |  | (21.9 | )
Effective tax rate |  |  | 0.0 | % |  |  | 0.0 | %
Significant Components of Deferred Tax Assets and Liabilities | The Company’s deferred income tax assets and liabilities as of December 31, 2019 and 2018 were as follows (in thousands):
|  | Year Ended December 31, |
|  | 2019 |  |  | 2018 |
Deferred tax assets: |  |  |  |  |  |  |  |
Net operating loss carry forward |  | $ | 43,971 |  |  | $ | 27,644 |
Tax credits |  |  | 2,397 |  |  |  | 1,473 |
Accruals and reserves |  |  | 1,671 |  |  |  | 2,063 |
Stock-based compensation |  |  | 23 |  |  |  | — |
Other |  |  | 2 |  |  |  | 1 |
Total deferred tax assets |  |  | 48,064 |  |  |  | 31,181 |
Valuation allowance |  |  | (46,998 | ) |  |  | (29,771 | )
Total deferred tax asset |  |  | 1,066 |  |  |  | 1,410 |
Deferred tax liabilities: |  |  |  |  |  |  |  |
Depreciation and amortization |  |  | 1,066 |  |  |  | 1,410 |
Total deferred tax liabilities |  |  | 1,066 |  |  |  | 1,410 |
Net deferred tax assets (liabilities) |  | $ | — |  |  | $ | — |
Summary of tabular reconciliation of the unrecognized tax benefits | The following is a tabular reconciliation of the total amounts of unrecognized tax benefits (in thousands):
|  | Year Ended December 31, |
|  | 2019 |  |  | 2018 |
Unrecognized tax benefits as of the beginning of the year |  | $ | 1,473 |  |  | $ | 549 |
Increases related to prior year tax provisions |  |  |  |  |  |  |  |
Decrease related to prior year tax provisions |  |  |  |  |  |  |  |
Increase related to current year tax provisions |  |  | 924 |  |  |  | 924 |
Statue lapse |  |  |  |  |  |  |  |
Unrecognized tax benefits as of the end of the year |  | $ | 2,397 |  |  | $ | 1,473 |
Gores Metropoulos, Inc. |
Schedule of Reconciliation of the Statutory Federal Income Tax Expense | A reconciliation of the statutory federal income tax expense to the income tax expense from continuing operations provided at December 31, 2019 and 2018 as follows:
|  | Year Ended December 31, 2019 |  |  | Year Ended December 31, 2018 |
Income tax expense at the federal statutory rate |  | $ | 1,446,224 |  |  | $ | (4,617 | )
State income taxes—net of federal income tax benefits |  |  | (29,220 | ) |  |  | (1,018 | )
Change in valuation allowance |  |  | 24,603 |  |  |  | 5,635 |
Total income tax expense (benefit) |  | $ | 1,441,607 |  |  | $ | — |
Provision for Income Taxes | The provision for income taxes consisted of the following for the years ended December 31, 2019 and 2018:
|  | Year Ended December 31, 2019 |  |  | Year Ended December 31, 2018 |
Current income tax expense |  |  |  |  |  |  |  |
Federal |  | $ | 1,443,960 |  |  | $ | — |
State |  |  | — |  |  |  | — |
Total current income tax expense |  | $ | 1,443,960 |  |  | $ | — |
Deferred income tax expense |  |  |  |  |  |  |  |
Federal |  | $ | (2,353 | ) |  | $ | — |
State |  |  | — |  |  |  | — |
Total deferred income tax expense |  | $ | (2,353 | ) |  | $ | — |
Provision for income taxes |  | $ | 1,441,607 |  |  | $ | — |
Significant Components of Deferred Tax Assets and Liabilities | Significant components of the Company’s deferred tax assets and liabilities as of December 31, 2019 and 2018 are as follows:
|  | Year Ended December 31, 2019 |  |  | Year Ended December 31, 2018 |
Deferred tax assets/(liabilities) |  |  |  |  |  |  |  |
Tax attribute carryovers |  | $ | 32,591 |  |  | $ | 5,635 |
Valuation allowance |  |  | (30,238 | ) |  |  | (5,635 | )
Net deferred tax assets/(liabilities) |  | $ | 2,353 |  |  | $ | 5,635 |

X
- Definition Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32639-109319 + Details
Name: | us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32537-109319 + Details
Name: | us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32687-109319 + Details
Name: | us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of income before income tax between domestic and foreign jurisdictions. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08.(h)(1)(i)) -URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690 + Details
Name: | us-gaap_ScheduleOfIncomeBeforeIncomeTaxDomesticAndForeignTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure for tax positions taken in the tax returns filed or to be filed for which it is more likely than not that the tax position will not be sustained upon examination by taxing authorities and other income tax contingencies. Includes, but is not limited to, interest and penalties, reconciliation of unrecognized tax benefits, unrecognized tax benefits that would affect the effective tax rate, tax years that remain subject to examination by tax jurisdictions, and information about positions for which it is reasonably possible that amounts unrecognized will significantly change within 12 months. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 15A -URI http://asc.fasb.org/extlink&oid=84230637&loc=SL6600010-109319 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 15 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32718-109319 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 19 -URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32840-109319 + Details
Name: | us-gaap_SummaryOfIncomeTaxContingenciesTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Details
Name: | dei_LegalEntityAxis=lazr_GoresMetropoulosIncMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |