Lyft Results Presentation Deck
GAAP to Non-GAAP Reconciliations (cont.)
($ in millions, except per share items)
Reconciliation of Net Loss to Non-GAAP Adjusted Net Income (Loss)
GAAP Net Loss
Amortization of intangible assets
Stock-based compensation expense
(1)
Payroll tax expense related to stock-based compensation
Net amount from claims ceded under the Reinsurance.
Agreement¹
Sublease income²
(2)
(3)
Costs related to acquisitions and divestitures
Transaction costs rel. to certain legacy auto insurance
liabilities
Adjusted net income (loss) per share, basic
Weighted-average shares used to compute adjusted net income
(loss) per share, basic
Restructuring charges³
Impairment charges4
Adjusted Net Income (Loss)
Fiscal 2021
(4)
Note:
Total
$ (1,062.1)
18.1
724.6
31.5
52.8
(117.7)
20.4
$ (332.6)
$ (0.99)
334.7
Q1
$ (196.9)
3.1
153.7
9.5
55.3
$24.6
$ 0.07
346.6
Q2
$ (377.2)
4.5
176.6
2.5
(36.8)
1.4
$ (229.1)
$ (0.65)
350.5
Fiscal 2022
Q3
$ (422.2)
5.4
221.0
3.1
0.9
135.7
$ (56.1)
$ (0.16)
356.5
Q4
$ (588.1)
5.5
199.4
1.9
110.5
$ (270.8)
$ (0.74)
365.1
Total
$ (1,584.5)
18.4
750.8
17.0
18.5
2.3
110.5
135.7
$ (531.4)
$ (1.50)
354.7
Q1
$ (187.6)
4.5
180.4
6.2
24.2
$ 27.7
$ 0.07
373.7
Fiscal 2023
Q2
$ (114.3)
4.2
113.9
2.7
52.9
$59.5
$ 0.16
381.9
Q3
$ (12.1)
4.0
In the third quarter of 2022, we recorded $135.7 million in impairment charges related to the wind down of an equity investee, which included the impairments of a non-marketable equity investment and other assets.
Due to rounding, numbers presented may not add up precisely to the totals provided.
98.5
Reflects the net amount recognized on the statement of operations associated with claims ceded under the Reinsurance agreement, including any losses related to the deferral of gains on the statement of operations and any benefit
from the amortization of the deferred gain in the same period. In the second quarter of 2022, we recorded a $36.8 million gain under cost of revenue on the condensed consolidated statement of operations related to a transaction
which effectively commuted and settled the Reinsurance Agreement.
For the GAAP income statement, sublease income is included as other income while the related lease rent expense is included in its respective operating expense line item. For non-GAAP purposes, sublease income is presented as a
contra-expense to the related lease rent expense. The non-GAAP presentation of sublease income as a contra-expense has no impact to Adjusted Net Income (Loss).
1.9
I
$92.3
$ 0.24
389.3
In the second quarter of 2023, restructuring charges included $46.6 million of severance and other employee costs, $5.7 million related to right-of-use asset impairments and other costs and $0.7 million related to accelerated
depreciation of certain fixed assets due to the restructuring plan announced in April 2023. In addition, restructuring related charges for stock-based compensation of $9.7 million and payroll taxes related to stock-based compensation
of $0.6 million are included in their respective line items. In the first quarter of 2023, we incurred restructuring charges of $4.3 million of severance and other employee costs, $19.6 million related to right-of-use asset impairments and other
costs and $0.3 million related to accelerated depreciation of certain fixed assets due to ongoing transformational initiatives. In addition, restructuring related charges for the stock-based compensation of $0.2 million are included on their
respective line items. These charges were related to the restructuring plan announced in November 2022. In the fourth quarter of 2022, we incurred restructuring charges of $29.2 million of severance and other employee costs and $57.4
million related to lease impairments and other restructuring costs and accelerated depreciation of $23.9 million. In addition, restructuring-related charges for stock-based compensation of $9.5 million and payroll taxes related to
stock-based compensation of $0.3 million are included on their respective line items. These charges were related to the restructuring plan announced in November 2022.
30View entire presentation