Bird Global, Inc. Annual report pursuant to Section 13 and 15(d)

Annual report pursuant to Section 13 and 15(d)

Fair Value Measurements

Fair Value Measurements

12 Months Ended

Dec. 31, 2022

The following table details the fair value measurements of derivative liabilities that are measured at a fair value on a recurring basis:


	December 31, 2022
	Level 1		Level 2		Level 3		Total
Convertible Senior Secured Notes(1)	—		—		30,100		30,100
Earnout Shares	—		—		1,459		1,459
Switchback Founder Earn Back Shares	—		—		125		125
Warrants	108		—		201		309
Total liabilities measured at fair value	$	108	$	—	$	31,885	$	31,993

(1) See Note 11 — Notes Payable for additional information. Mark-to-market adjustments of the Bird Canada Transaction Convertible Senior Secured Notes were immaterial for the year ended December 31, 2022.


	December 31, 2021
	Level 1		Level 2		Level 3		Total
Earnout Shares	$	—	$	—	$	106,003	$	106,003
Switchback Founder Earn Back Shares	—		—		9,087		9,087
Warrants	6,515		—		14,591		21,106
Total liabilities measured at fair value	$	6,515	$	—	$	129,681	$	136,196

Amounts associated with the issuance of and mark-to-market adjustments of derivative liabilities are reflected in Other income, net and totaled $134.3 million, $51.0 million, and $0.0 million of income for the years ended December 31, 2022, 2021, and 2020, respectively.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

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