XML 20 R9.htm IDEA: XBRL DOCUMENT v3.24.3
Business Combinations and Dispositions
9 Months Ended
Sep. 30, 2024
Discontinued Operations and Disposal Groups [Abstract]  
Business Combinations and Dispositions Business Combinations and Dispositions
Dispositions
China
On August 6, 2024, we entered into an asset purchase agreement with an unrelated third party for the sale of certain net assets used in connection with the operation of our China subsidiary, Allbirds (Shanghai) Trading Co., LTD. The net assets sold primarily included inventory and property and equipment related to our retail store leases, partially offset by sales return liabilities and gift card liabilities. As part of this transaction, we are to be paid total consideration of $2.1 million, recorded in other receivables within prepaid expenses and other current assets on our condensed consolidated balance sheet. Consideration received was less than the net book value of the transferred net assets of $2.2 million, resulting in a loss of approximately $0.2 million, which was recorded within net loss from the sale of businesses in the condensed consolidated statement of operations and comprehensive loss for the three and nine months ended September 30, 2024.
Japan
On May 27, 2024, we entered into an asset purchase agreement with an unrelated third party for the sale of certain net assets used in connection with the operation of our Japan subsidiary, Allbirds G.K. The net assets sold primarily included inventory and property and equipment related to our retail store leases, partially offset by sales return liabilities and gift card liabilities. As part of this transaction, we are to be paid total consideration of $0.9 million, recorded in other receivables within prepaid expenses and other current assets on our condensed consolidated balance sheet. Consideration received was more than the net book value of the transferred net assets of $0.8 million, resulting in an immaterial gain, which was recorded within net loss from the sale of businesses in the condensed consolidated statement of operations and comprehensive loss for the nine months ended September 30, 2024.
Australasia
On June 26, 2024, we entered into an asset purchase agreement with an unrelated third party for the sale of certain net assets used in connection with the operation of our New Zealand subsidiary, Allbirds (New Zealand) Limited. The net assets sold primarily included inventory, partially offset by gift card liabilities. As part of this transaction, we are to be paid total consideration of $0.3 million, recorded in other receivables within prepaid expense and other current assets on our condensed consolidated balance sheet. Consideration received was less than the net book value of the transferred net assets of $0.5 million, resulting in a loss of $0.2 million, which was recorded within loss from the sale of businesses in the condensed consolidated statement of operations and comprehensive loss for the nine months ended September 30, 2024.