XML 64 R42.htm IDEA: XBRL DOCUMENT v3.22.1

Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2021

Fair Value Disclosures [Abstract]

Assets measured at fair value of a recurring basis

Assets and liabilities carried at fair value on a recurring basis as of December 31, 2021 and 2020 consisted of the following (in thousands):

			December 31, 2021
			Fair Value						Level 1						Level 2						Level 3
Assets
Cash and Cash Equivalents(1):
Money market funds			$	5,868					$	5,868					$	—					$	—
Non-U.S. government and supranational bonds			647						—						647						—
Corporate debt security			1,805						—						1,805						—
			$	8,320					$	5,868					$	2,452					$	—
Short-Term Investments:
U.S. treasuries			$	3,408					$	3,408					$	—					$	—
Corporate debt security			71,349						—						71,349						—
Asset-backed security and other			2,551						—						2,551						—
Non-U.S. government and supranational bonds			16,387						—						16,387						—
Certificate of Deposit			1,001						—						1,001						—
			$	94,696					$	3,408					$	91,288					$	—
Long-Term Investments:
U.S. treasuries			$	2,196					$	2,196					$	—					$	—
Corporate debt security			42,457						—						42,457						—
Asset-backed security and other			5,410						—						5,410						—
Non-U.S. government and supranational bonds			3,753						—						3,753						—
Certificate of Deposit			1,000						—						1,000						—
			$	54,816					$	2,196					$	52,620					$	—
Financial Liabilities:
Private Placement Warrants			$	140					$	—					$	140					$	—
Public Warrants			7,356						7,356						—						—
Contingent Earn-out Shares liability			29,240						—						—						29,240
Total Financial Liabilities			$	36,736					$	7,356					$	140					$	29,240

____________

(1) Included in total cash and cash equivalents on the Consolidated Balance Sheets.

			December 31, 2020
			Total						Level 1						Level 2						Level 3
Financial Liabilities:
Derivative liability on convertible notes			$	6,394					$	—					$	—					$	6,394
Legacy Xos Preferred Stock Warrant			1,707						—						—						1,707
Total			$	8,101					$	—					$	—					$	8,101

Liabilities measured at fair value of a recurring basis

Assets and liabilities carried at fair value on a recurring basis as of December 31, 2021 and 2020 consisted of the following (in thousands):

			December 31, 2021
			Fair Value						Level 1						Level 2						Level 3
Assets
Cash and Cash Equivalents(1):
Money market funds			$	5,868					$	5,868					$	—					$	—
Non-U.S. government and supranational bonds			647						—						647						—
Corporate debt security			1,805						—						1,805						—
			$	8,320					$	5,868					$	2,452					$	—
Short-Term Investments:
U.S. treasuries			$	3,408					$	3,408					$	—					$	—
Corporate debt security			71,349						—						71,349						—
Asset-backed security and other			2,551						—						2,551						—
Non-U.S. government and supranational bonds			16,387						—						16,387						—
Certificate of Deposit			1,001						—						1,001						—
			$	94,696					$	3,408					$	91,288					$	—
Long-Term Investments:
U.S. treasuries			$	2,196					$	2,196					$	—					$	—
Corporate debt security			42,457						—						42,457						—
Asset-backed security and other			5,410						—						5,410						—
Non-U.S. government and supranational bonds			3,753						—						3,753						—
Certificate of Deposit			1,000						—						1,000						—
			$	54,816					$	2,196					$	52,620					$	—
Financial Liabilities:
Private Placement Warrants			$	140					$	—					$	140					$	—
Public Warrants			7,356						7,356						—						—
Contingent Earn-out Shares liability			29,240						—						—						29,240
Total Financial Liabilities			$	36,736					$	7,356					$	140					$	29,240

____________

(1) Included in total cash and cash equivalents on the Consolidated Balance Sheets.

			December 31, 2020
			Total						Level 1						Level 2						Level 3
Financial Liabilities:
Derivative liability on convertible notes			$	6,394					$	—					$	—					$	6,394
Legacy Xos Preferred Stock Warrant			1,707						—						—						1,707
Total			$	8,101					$	—					$	—					$	8,101

Schedule of Changes on Fair Value of Financial Liabilities

The changes in the fair value of the financial liabilities during the year ended December 31, 2021 consisted of the following (in thousands):

			Private Placement Warrants						Public Warrants						Contingent Earn-out Shares Liability						Derivative Liability on Convertible Notes						Legacy Xos Preferred Stock Warrant
Fair value at December 31, 2020			$	—					$	—					$	—					$	6,394					$	1,707
Release due to extinguishment of convertible notes			—						—						—						(6,394)						—
Release due to warrant exercise			—						—						—						—						(3,136)
Initial recognition upon merger consummation			6,017						11,875						101,744						—						—
Change in fair value during the period			(5,877)						(4,519)						(72,504)						—						1,429
Fair value at December 31, 2021			$	140					$	7,356					$	29,240					$	—					$	—

X

- Definition

Tabular disclosure of assets, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, by class that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3).

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123874694&loc=d3e19207-110258

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123874694&loc=d3e19207-110258

+ Details

Name:	us-gaap_FairValueAssetsMeasuredOnRecurringBasisTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- References

No definition available.

+ Details

Name:	us-gaap_FairValueDisclosuresAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, by class that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). Where the quoted price in an active market for the identical liability is not available, the Level 1 input is the quoted price of an identical liability when traded as an asset.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123874694&loc=d3e19207-110258

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123874694&loc=d3e19207-110258

+ Details

Name:	us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Schedule Of Changes In Fair Value Of Financial Liabilities

+ References

No definition available.

+ Details

Name:	xos_ScheduleOfChangesInFairValueOfFinancialLiabilitiesTableTextBlock
Namespace Prefix:	xos_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration