10-Q Filing

COUPANG, INC. CIK: 1834584 Q1 2023

Filing Information

Form Type	10-Q
Accession Number	`0001834584-23-000043`
Period End Date	20230331
Filing Date	20230510
Fiscal Year	2023
Fiscal Period	Q1
XBRL Instance	cpng-20230331_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 62 Income Statement 30 Cash Flow Statement 56 Stockholders Equity 14 Comprehensive Income 10

Balance Sheet 62 line items

Line Item	Tag	Value	Unit	Period
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$3.79B	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$3.51B	USD	Point-in-time
Restricted cash	`RestrictedCashAndCashEquivalentsAtCarryingValue`	$176.32M	USD	Point-in-time
Restricted cash	`RestrictedCashAndCashEquivalentsAtCarryingValue`	$330.19M	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$184.46M	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$126.89M	USD	Point-in-time
Inventories	`InventoryNet`	$1.67B	USD	Point-in-time
Inventories	`InventoryNet`	$1.66B	USD	Point-in-time
Prepaids and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$303.17M	USD	Point-in-time
Prepaids and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$198.24M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$6.11B	USD	Point-in-time
Total current assets	`AssetsCurrent`	$5.83B	USD	Point-in-time
Long-term restricted cash	`RestrictedCashAndCashEquivalentsNoncurrent`	$1.62M	USD	Point-in-time
Long-term restricted cash	`RestrictedCashAndCashEquivalentsNoncurrent`	$1.54M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$1.82B	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$1.81B	USD	Point-in-time
Operating lease right-of-use assets	`OperatingLeaseRightOfUseAsset`	$1.41B	USD	Point-in-time
Operating lease right-of-use assets	`OperatingLeaseRightOfUseAsset`	$1.34B	USD	Point-in-time
Long-term lease deposits and other	`DepositsAssetsNoncurrent`	$455.96M	USD	Point-in-time
Long-term lease deposits and other	`DepositsAssetsNoncurrent`	$441.82M	USD	Point-in-time
Total assets	`Assets`	$9.71B	USD	Point-in-time
Total assets	`Assets`	$9.51B	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$3.68B	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$3.62B	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$298.87M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$247.10M	USD	Point-in-time
Deferred revenue	`ContractWithCustomerLiabilityCurrent`	$93.26M	USD	Point-in-time
Deferred revenue	`ContractWithCustomerLiabilityCurrent`	$92.36M	USD	Point-in-time
Short-term borrowings	`ShortTermBorrowings`	$175.40M	USD	Point-in-time
Short-term borrowings	`ShortTermBorrowings`	$223.45M	USD	Point-in-time
Current portion of long-term debt	`LongTermDebtCurrent`	$149.03M	USD	Point-in-time
Current portion of long-term debt	`LongTermDebtCurrent`	$128.94M	USD	Point-in-time
Current portion of long-term operating lease obligations	`OperatingLeaseLiabilityCurrent`	$325.92M	USD	Point-in-time
Current portion of long-term operating lease obligations	`OperatingLeaseLiabilityCurrent`	$319.43M	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$418.68M	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$456.91M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$5.17B	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$5.06B	USD	Point-in-time
Long-term debt	`SecuredLongTermDebt`	$537.88M	USD	Point-in-time
Long-term debt	`SecuredLongTermDebt`	$522.82M	USD	Point-in-time
Long-term operating lease obligations	`OperatingLeaseLiabilityNoncurrent`	$1.23B	USD	Point-in-time
Long-term operating lease obligations	`OperatingLeaseLiabilityNoncurrent`	$1.18B	USD	Point-in-time
Defined severance benefits and other	`DefinedBenefitPlanAndOtherLongTermLiabilities`	$275.20M	USD	Point-in-time
Defined severance benefits and other	`DefinedBenefitPlanAndOtherLongTermLiabilities`	$264.92M	USD	Point-in-time
Total liabilities	`Liabilities`	$7.15B	USD	Point-in-time
Total liabilities	`Liabilities`	$7.10B	USD	Point-in-time
Contingencies (Note 11)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Contingencies (Note 11)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Class A common stock, $0.0001 par value, 10,000,000 shares authorized, 1,602,488 and 1,597,804 shares issued and outstanding as of March 31, 2023 and December 31, 2022, respectively; Class B common stock, $0.0001 par value, 250,000 shares authorized, 174,803 shares issued and outstanding as of March 31, 2023 and December 31, 2022	`CommonStockValue`	$178.00K	USD	Point-in-time
Class A common stock, $0.0001 par value, 10,000,000 shares authorized, 1,602,488 and 1,597,804 shares issued and outstanding as of March 31, 2023 and December 31, 2022, respectively; Class B common stock, $0.0001 par value, 250,000 shares authorized, 174,803 shares issued and outstanding as of March 31, 2023 and December 31, 2022	`CommonStockValue`	$177.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$8.15B	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$8.23B	USD	Point-in-time
Accumulated other comprehensive (loss) income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-15.91M	USD	Point-in-time
Accumulated other comprehensive (loss) income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$2.22M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-5.74B	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-5.65B	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$2.41B	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$2.18B	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$2.04B	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$2.56B	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$9.71B	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$9.51B	USD	Point-in-time

Income Statement 30 line items

Line Item	Tag	Value	Unit	Period
Total net revenues	`RevenueFromContractWithCustomerExcludingAssessedTax`	$5.80B	USD	1 Quarter
Total net revenues	`RevenueFromContractWithCustomerExcludingAssessedTax`	$5.12B	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$4.38B	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$4.07B	USD	1 Quarter
Operating, general and administrative	`GeneralAndAdministrativeExpense`	$1.25B	USD	1 Quarter
Operating, general and administrative	`GeneralAndAdministrativeExpense`	$1.31B	USD	1 Quarter
Total operating cost and expenses	`CostsAndExpenses`	$5.32B	USD	1 Quarter
Total operating cost and expenses	`CostsAndExpenses`	$5.69B	USD	1 Quarter
Operating income (loss)	`OperatingIncomeLoss`	$-205.71M	USD	1 Quarter
Operating income (loss)	`OperatingIncomeLoss`	$106.78M	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$3.53M	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$31.86M	USD	1 Quarter
Interest expense	`InterestExpense`	$7.37M	USD	1 Quarter
Interest expense	`InterestExpense`	$8.28M	USD	1 Quarter
Other (expense) income, net	`OtherNonoperatingIncomeExpense`	$490.00K	USD	1 Quarter
Other (expense) income, net	`OtherNonoperatingIncomeExpense`	$-6.54M	USD	1 Quarter
Income (loss) before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-209.05M	USD	1 Quarter
Income (loss) before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$123.82M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$245.00K	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$32.96M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$90.86M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-209.29M	USD	1 Quarter
Net income (loss) attributable to Class A and Class B common stockholders per share, basic (in dollars per share)	`EarningsPerShareBasic`	$-0.12	USD	1 Quarter
Net income (loss) attributable to Class A and Class B common stockholders per share, basic (in dollars per share)	`EarningsPerShareBasic`	$0.05	USD	1 Quarter
Net income (loss) attributable to Class A and Class B common stockholders per share, diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.05	USD	1 Quarter
Net income (loss) attributable to Class A and Class B common stockholders per share, diluted (in dollars per share)	`EarningsPerShareDiluted`	$-0.12	USD	1 Quarter
Weighted-average shares used in computing net income (loss) per share attributable to Class A and Class B common stockholders, basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	1.76B	shares	1 Quarter
Weighted-average shares used in computing net income (loss) per share attributable to Class A and Class B common stockholders, basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	1.77B	shares	1 Quarter
Weighted-average shares used in computing net income (loss) per share attributable to Class A and Class B common stockholders, diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	1.76B	shares	1 Quarter
Weighted-average shares used in computing net income (loss) per share attributable to Class A and Class B common stockholders, diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	1.79B	shares	1 Quarter

Cash Flow Statement 56 line items

Line Item	Tag	Value	Unit	Period
Net income (loss)	`NetIncomeLoss`	$90.86M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-209.29M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$59.24M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$64.25M	USD	1 Quarter
Provision for severance benefits	`PensionAndOtherPostretirementBenefitsExpenseReversalOfExpenseNoncash`	$38.69M	USD	1 Quarter
Provision for severance benefits	`PensionAndOtherPostretirementBenefitsExpenseReversalOfExpenseNoncash`	$44.48M	USD	1 Quarter
Equity-based compensation	`ShareBasedCompensation`	$69.90M	USD	1 Quarter
Equity-based compensation	`ShareBasedCompensation`	$55.59M	USD	1 Quarter
Non-cash operating lease expense	`OperatingLeaseRightOfUseAssetAmortizationExpense`	$83.51M	USD	1 Quarter
Non-cash operating lease expense	`OperatingLeaseRightOfUseAssetAmortizationExpense`	$77.22M	USD	1 Quarter
Other	`OtherNoncashIncomeExpense`	$-28.72M	USD	1 Quarter
Other	`OtherNoncashIncomeExpense`	$-16.51M	USD	1 Quarter
Accounts receivable, net	`IncreaseDecreaseInAccountsReceivable`	$-266.00K	USD	1 Quarter
Accounts receivable, net	`IncreaseDecreaseInAccountsReceivable`	$-55.69M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$-6.86M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$60.97M	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$66.51M	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$-59.66M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$28.04M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$162.17M	USD	1 Quarter
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$-46.91M	USD	1 Quarter
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$-49.98M	USD	1 Quarter
Other liabilities	`IncreaseDecreaseInOtherOperatingLiabilities`	$-17.38M	USD	1 Quarter
Other liabilities	`IncreaseDecreaseInOtherOperatingLiabilities`	$-44.26M	USD	1 Quarter
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-54.94M	USD	1 Quarter
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$501.30M	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$238.91M	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$95.22M	USD	1 Quarter
Proceeds from sale of property and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$4.25M	USD	1 Quarter
Proceeds from sale of property and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$664.00K	USD	1 Quarter
Other investing activities	`PaymentsForProceedsFromOtherInvestingActivities`	$-11.82M	USD	1 Quarter
Other investing activities	`PaymentsForProceedsFromOtherInvestingActivities`	$14.37M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-82.73M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-249.03M	USD	1 Quarter
Proceeds from issuance of common stock, equity-based compensation plan	`ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions`	$8.18M	USD	1 Quarter
Proceeds from issuance of common stock, equity-based compensation plan	`ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions`	$3.50M	USD	1 Quarter
Proceeds from short-term borrowings and long-term debt	`ProceedsFromIssuanceOfDebt`	$343.98M	USD	1 Quarter
Proceeds from short-term borrowings and long-term debt	`ProceedsFromIssuanceOfDebt`	$31.95M	USD	1 Quarter
Repayment of short-term borrowings and long-term debt	`RepaymentsOfDebt`	$152.03M	USD	1 Quarter
Repayment of short-term borrowings and long-term debt	`RepaymentsOfDebt`	$842.00K	USD	1 Quarter
Net short-term borrowings and other financing activities	`ProceedsFromPaymentsForOtherFinancingActivities`	$43.51M	USD	1 Quarter
Net short-term borrowings and other financing activities	`ProceedsFromPaymentsForOtherFinancingActivities`	$-1.55M	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$78.12M	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$198.58M	USD	1 Quarter
Effect of exchange rate changes on cash and cash equivalents, and restricted cash	`EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$-27.40M	USD	1 Quarter
Effect of exchange rate changes on cash and cash equivalents, and restricted cash	`EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$-60.03M	USD	1 Quarter
Net increase (decrease) in cash and cash equivalents, and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-132.79M	USD	1 Quarter
Net increase (decrease) in cash and cash equivalents, and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$436.66M	USD	1 Quarter
Cash and cash equivalents, and restricted cash, as of beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$4.12B	USD	Point-in-time
Cash and cash equivalents, and restricted cash, as of beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$3.81B	USD	Point-in-time
Cash and cash equivalents, and restricted cash, as of beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$3.68B	USD	Point-in-time
Cash and cash equivalents, and restricted cash, as of beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$3.69B	USD	Point-in-time
Cash and cash equivalents, and restricted cash, as of end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$4.12B	USD	Point-in-time
Cash and cash equivalents, and restricted cash, as of end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$3.81B	USD	Point-in-time
Cash and cash equivalents, and restricted cash, as of end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$3.68B	USD	Point-in-time
Cash and cash equivalents, and restricted cash, as of end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$3.69B	USD	Point-in-time

Stockholders Equity 14 line items

Line Item	Tag	Value	Unit	Period
Beginning balance	`StockholdersEquity`	$2.41B	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$2.18B	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$2.04B	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$2.56B	USD	Point-in-time
Foreign currency translation adjustments, net of tax	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$3.01M	USD	1 Quarter
Foreign currency translation adjustments, net of tax	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-18.99M	USD	1 Quarter
Actuarial gain on defined severance benefits, net of tax	`OtherComprehensiveIncomeDefinedBenefitPlansAdjustmentNetOfTaxPortionAttributableToParent`	$-3.81M	USD	1 Quarter
Actuarial gain on defined severance benefits, net of tax	`OtherComprehensiveIncomeDefinedBenefitPlansAdjustmentNetOfTaxPortionAttributableToParent`	$-856.00K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$90.86M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-209.29M	USD	1 Quarter
Ending balance	`StockholdersEquity`	$2.41B	USD	Point-in-time
Ending balance	`StockholdersEquity`	$2.18B	USD	Point-in-time
Ending balance	`StockholdersEquity`	$2.04B	USD	Point-in-time
Ending balance	`StockholdersEquity`	$2.56B	USD	Point-in-time

Comprehensive Income 10 line items

Line Item	Tag	Value	Unit	Period
Net income (loss)	`NetIncomeLoss`	$90.86M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-209.29M	USD	1 Quarter
Foreign currency translation adjustments, net of tax	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$3.01M	USD	1 Quarter
Foreign currency translation adjustments, net of tax	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-18.99M	USD	1 Quarter
Actuarial gain on defined severance benefits, net of tax	`OtherComprehensiveIncomeDefinedBenefitPlansAdjustmentNetOfTaxPortionAttributableToParent`	$-3.81M	USD	1 Quarter
Actuarial gain on defined severance benefits, net of tax	`OtherComprehensiveIncomeDefinedBenefitPlansAdjustmentNetOfTaxPortionAttributableToParent`	$-856.00K	USD	1 Quarter
Total other comprehensive (loss) income	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$6.82M	USD	1 Quarter
Total other comprehensive (loss) income	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$-18.13M	USD	1 Quarter
Comprehensive income (loss)	`ComprehensiveIncomeNetOfTax`	$72.72M	USD	1 Quarter
Comprehensive income (loss)	`ComprehensiveIncomeNetOfTax`	$-202.47M	USD	1 Quarter

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.