Schedule I - Condensed Financial information of Parent (Coupang, Inc.)

12 Months Ended

Dec. 31, 2021

COUPANG, INC.

Schedule I - Condensed Financial Information of Parent (COUPANG, INC.)

Condensed Balance Sheets

(in thousands)


	December 31,
	2021		2020
Assets
Current assets:
Cash and cash equivalents	$	2,358,035	$	6,336
Other current assets	46,386		527
Total current assets	2,404,421		6,863

Other long-term assets	1,426		—
Investment in subsidiaries	(145,577)		(7,245)
Total assets	$	2,260,270	$	(382)

Liabilities, redeemable convertible preferred units and stockholders'/members' equity (deficit)
Current liabilities:

Other current liabilities	$	84,313	$	13,018
Total current liabilities	84,313		13,018

Convertible notes	—		589,851

Total liabilities	84,313		602,869

Redeemable convertible preferred units	—		3,465,611
Stockholders'/members' equity (deficit)
Common units	—		45,122
Class A and Class B common stock	175		—
Additional paid-in capital	7,874,038		25,036
Accumulated other comprehensive loss	(47,739)		(31,093)
Accumulated deficit	(5,650,517)		(4,107,927)
Total stockholders'/members' equity (deficit)	2,175,957		(4,068,862)
Total liabilities, redeemable convertible preferred units and stockholders'/members' equity (deficit)	$	2,260,270	$	(382)

See accompanying notes to condensed financial statements.

COUPANG, INC.

Schedule I - Condensed Financial Information of Parent (COUPANG, INC.)

Condensed Statements of Operations and Comprehensive Loss

(in thousands)


	Year Ended December 31,
	2021		2020		2019
Management service fee revenues	$	17,003	$	—	$	—


Operating cost and expenses	(349,439)		(52,067)		(21,966)
Interest expense	(21,580)		(91,035)		(79,738)
Other (expense) income, net	2,575		149,835		(1,110)
Loss before equity in losses of subsidiaries	(351,441)		6,733		(102,814)

Equity in losses of subsidiaries	(1,191,149)		(469,890)		(594,071)

Net loss	(1,542,590)		(463,157)		(696,885)
Less: premium on repurchase of redeemable convertible preferred units	—		(92,734)		(71,415)
Net loss attributable to Class A and Class B common stockholders	$	(1,542,590)	$	(555,891)	$	(768,300)

Other comprehensive income (loss):
Foreign currency translation adjustments, net of tax	40,844		(20,730)		3,299
Actuarial loss on defined severance benefits, net of tax	(57,490)		(18,005)		(9,011)
Total other comprehensive loss	(16,646)		(38,735)		(5,712)
Comprehensive loss	$	(1,559,236)	$	(501,892)	$	(702,597)

See accompanying notes to condensed financial statements.

COUPANG, INC.

Schedule I - Condensed Financial Information of Parent (COUPANG, INC.)

Condensed Statements of Cash Flows

(in thousands)


	Year Ended December 31,
	2021		2020		2019
Operating activities:
Net cash (used in) provided by operating activities	$	(57,783)	$	(7,587)	$	7,429
Investing activities:
Capital contribution to subsidiaries	(1,273,629)		(184,490)		(2,044,205)
Return of capital contribution from subsidiaries	202,834		253,921		817,977
Net cash (used in) provided by investing activities	(1,070,795)		69,431		(1,226,228)
Financing activities:
Repurchase of common units and preferred units	—		(97,043)		(114,610)
Proceeds from issuance of common units and preferred units, net of issuance costs	3,431,277		28,613		1,516,378
Deferred offering costs paid	(11,618)		—		—
Proceeds from issuance of common stock/units, equity-based compensation plan	62,281		—		—
Repayment of short-term borrowings	—		—		(200,000)
Other, net	(1,663)		—		—
Net cash provided by (used in) financing activities	3,480,277		(68,430)		1,201,768
Cash and cash equivalents:
Net increase (decrease) in cash and cash equivalents	2,351,699		(6,586)		(17,031)
Cash and cash equivalents as of beginning of the period	6,336		12,922		29,953
Cash and cash equivalents as of end of the period	$	2,358,035	$	6,336	$	12,922

See accompanying notes to condensed financial statements.