Business Combination |
12 Months Ended |
|---|---|
Dec. 31, 2019 | |
| Business Combinations [Abstract] | |
| Business Combination | Note 18 – Business Combination In May 2018, the Company acquired 100% of the equity interest of JUMP, a dockless e-bike sharing private company based in Brooklyn, New York. The acquisition of JUMP was accounted for as a business combination. The purchase price of $139 million (paid in 2,605,148 shares of the Company's common stock, 499,241 stock options, and $46 million in cash) was allocated as follows: $37 million to developed technology, $4 million to deferred tax liabilities, $10 million to assets acquired and $4 million to liabilities assumed based on their estimated fair value on the acquisition date, and the excess of $100 million of the purchase price over the fair value of net assets acquired was recorded as goodwill. Goodwill was primarily attributable to the expected synergies arising from the acquisition including the ability to gain efficiencies with the use of JUMP’s technology and existing processes. This goodwill was not deductible for U.S. income tax purposes. Developed technology is amortized on a straight-line basis over its estimated useful life of up to 5 years.
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