Vizio Holding (VZIO) 10-K 10 Mar 22 2021 FY Annual report Financial data

Cover

Cover - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Mar. 07, 2022	Jun. 30, 2021
Document Information [Line Items]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2021
Current Fiscal Year End Date	--12-31
Document Transition Report	false
Entity File Number	001-40271
Entity Registrant Name	VIZIO HOLDING CORP.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	85-4185335
Entity Address, Address Line One	39 Tesla
Entity Address, City or Town	Irvine
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	92618
City Area Code	949
Local Phone Number	428-2525
Title of 12(g) Security	Class A common stock, par value $0.0001 per share
Trading Symbol	VZIO
Security Exchange Name	NYSE
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Public Float			$ 2,189
Entity Central Index Key	0001835591
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	FY
Amendment Flag	false
Documents Incorporated by Reference	Portions of the registrant's definitive Proxy Statement relating to the 2022 Annual Meeting of Stockholders are incorporated herein by references in Part III of this Annual Report on Form 10-K where indicated. Such Proxy Statement will be filed with the Securities and Exchange Commission within 120 days of the registrant's fiscal year ended December 31, 2021.
Class A common stock
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		114,981,134
Class B common stock
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		76,814,638
Class C common stock
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		0

Audit Information

Audit Information	12 Months Ended
	Dec. 31, 2021
Audit Information [Abstract]
Auditor Name	KPMG LLP
Auditor Location	Los Angeles, CA
Auditor Firm ID	185

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020
Current assets:
Cash and cash equivalents	$ 331.6	$ 207.7
Accounts receivable, net	375.1	405.6
Other receivables due from related parties	5.1	1
Inventories	11.9	10.5
Income tax receivable	26.2	1.3
Other current assets	84.8	55.5
Total current assets	834.7	681.6
Property, equipment and software, net	10.3	7.9
Goodwill	44.8	44.8
Deferred income taxes	30.4	26.7
Other assets	15.6	14
Total assets	935.8	775
Current liabilities:
Accounts payable due to related parties	224.8	209.4
Accounts payable	118.9	166.8
Accrued expenses	185.8	155
Accrued royalties	56.8	81.1
Other current liabilities	4.8	5.2
Total current liabilities	591.1	617.5
Other long-term liabilities	14.1	8.2
Total liabilities	605.2	625.7
Commitments and contingencies
Stockholders’ equity:
Common stock	0	0
Additional paid in capital	323.3	98.9
Accumulated other comprehensive (loss) income	(0.2)	0.9
Retained earnings	7.5	46.9
Total stockholders’ equity	330.6	149.3
Total liabilities and stockholders’ equity	935.8	775
Preferred stock
Stockholders’ equity:
Preferred stock	0
Series A convertible preferred stock
Stockholders’ equity:
Preferred stock	$ 0	$ 2.6

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Dec. 31, 2021	Dec. 31, 2020
Stockholders’ equity:
Common stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Common stock, authorized (in shares)	1,350,000,000	675,000,000
Common stock, issued (in shares)	193,255,537
Common stock, outstanding (in shares)	190,023,855
Preferred stock
Stockholders’ equity:
Preferred stock, par value (in dollars per share)	$ 0.0001
Preferred stock, authorized (in shares)	100,000,000
Preferred stock, issued (in shares)	0
Preferred stock, outstanding (in shares)	0
Series A convertible preferred stock
Stockholders’ equity:
Preferred stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Preferred stock, authorized (in shares)	25,000,000	25,000,000
Preferred stock, designated (in shares)	0	250,000
Preferred stock, issued (in shares)	0	135,000
Preferred stock, outstanding (in shares)	0	135,000
Class A common stock
Stockholders’ equity:
Common stock, issued (in shares)	116,441,000	150,831,000
Common stock, outstanding (in shares)	113,209,000	150,831,000
Class B common stock
Stockholders’ equity:
Common stock, issued (in shares)	76,815,000	0
Common stock, outstanding (in shares)	76,815,000	0
Class C common stock
Stockholders’ equity:
Common stock, issued (in shares)	0	0
Common stock, outstanding (in shares)	0	0

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Net revenue:
Total net revenue	$ 2,124	$ 2,042.5	$ 1,836.8
Cost of goods sold:
Total cost of goods sold	1,797.7	1,746.1	1,671.6
Gross profit:
Total gross profit	326.3	296.4	165.2
Operating expenses:
Selling, general and administrative	286.1	115.8	98.7
Marketing	32.8	31.3	22.7
Research & development	34.2	15.1	10.3
Depreciation and amortization	2.8	2.3	4.1
Total operating expenses	355.9	164.5	135.8
Income (loss) from operations	(29.6)	131.9	29.4
Interest income, net	0.3	0	1.2
Other income, net	3	0.5	0.2
Total non-operating income	3.3	0.5	1.4
Income (loss) before income taxes	(26.3)	132.4	30.8
Provision for income taxes	13.1	29.9	7.7
Net (loss) income	$ (39.4)	$ 102.5	$ 23.1
Net (loss) income per share attributable to common stockholders
Basic (in dollars per share)	$ (0.22)	$ 0.56	$ 0.12
Diluted (in dollars per share)	$ (0.22)	$ 0.55	$ 0.12
Weighted-average common shares outstanding (in thousands)
Basic (in shares)	175,502	144,381	144,127
Diluted (in shares)	175,502	147,012	147,063
Device
Net revenue:
Total net revenue	$ 1,815.3	$ 1,895.3	$ 1,773.6
Cost of goods sold:
Total cost of goods sold	1,699.6	1,710.8	1,648.6
Gross profit:
Total gross profit	115.7	184.5	125
Platform+
Net revenue:
Total net revenue	308.7	147.2	63.2
Cost of goods sold:
Total cost of goods sold	98.1	35.3	23
Gross profit:
Total gross profit	$ 210.6	$ 111.9	$ 40.2

Consolidated Statements of Comp

Consolidated Statements of Comprehensive (Loss) Income - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Other comprehensive (loss) income
Net (loss) income	$ (39.4)	$ 102.5	$ 23.1
Basic net (loss) income per share attributable to common stockholders (in dollars per share)	$ (0.22)	$ 0.56	$ 0.12
Diluted net (loss) income per share attributable to common stockholders (in dollars per share)	$ (0.22)	$ 0.55	$ 0.12
Foreign currency translation adjustments	$ (1.1)	$ 0.7	$ 0.1
Comprehensive (loss) income	$ (40.5)	$ 103.2	$ 23.2

Consolidated Statements of Stoc

Consolidated Statements of Stockholders' Equity - USD ($) $ in Thousands		Total	Class A common stock	Class B common stock	Series A Convertible Preferred Stock		Common Stock	Common StockClass A common stock		Common StockClass B common stock		Additional Paid In Capital	Accumulated Other Comprehensive Income	Retained Earnings (Accumulated Deficit)
Beginning balance (in shares) at Dec. 31, 2018					100,000			150,300,000	[1]	0	[1]
Beginning balance at Dec. 31, 2018		$ 11,700			$ 2,300							$ 87,800	$ 0	$ (78,400)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Share-based compensation expense		4,100										4,100
Issuance of Class A Common Stock Warrants		1,900										1,900
Shares issued pursuant to incentive award plans (in shares)	[1]							300,000
Shares issued pursuant to incentive award plans		200										200
Accretion of preferred stock dividends		0			$ 100									(100)
Other comprehensive income (loss)		100											100
Net (loss) income		23,100												23,100
Ending balance (in shares) at Dec. 31, 2019					100,000			150,600,000	[1]	0	[1]
Ending balance at Dec. 31, 2019		41,100			$ 2,400							93,900	200	(55,500)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Share-based compensation expense		4,800										4,800
Shares issued pursuant to incentive award plans (in shares)	[1]							200,000
Shares issued pursuant to incentive award plans		200										200
Accretion of preferred stock dividends		0			$ 100									(100)
Other comprehensive income (loss)		700											700
Net (loss) income		102,500												102,500
Ending balance (in shares) at Dec. 31, 2020					100,000			150,800,000	[1]	0	[1]
Ending balance at Dec. 31, 2020		149,300			$ 2,600							98,900	900	46,900
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Share-based compensation expense		134,400										134,400
Shares issued pursuant to incentive award plans (in shares)	[1]							9,500,000
Shares issued pursuant to incentive award plans		14,100										14,100
Payment of preferred stock dividends		(600)			$ (600)
Conversion of preferred stock (in shares)					(100,000)			30,300,000	[1]
Conversion of preferred stock		0			$ (2,000)							2,000
Sale of common stock, net of $13.7 million of stock issuance costs (in shares)	[1]							7,600,000
Sale of common stock, net of $13.7 million of stock issuance costs		$ 144,900										144,900
Shares withheld to cover withholding taxes for stock awards (in shares)		(3,231,682)						(3,200,000)	[1]
Shares withheld to cover withholding taxes for stock awards		$ (71,000)										(71,000)
Conversion of Class A shares into Class B (in shares)	[1]							(98,300,000)		98,300,000
Conversion of Class B shares into Class A (in shares)	[1]							21,500,000		(21,500,000)
RSA Forfeiture	[1]							(5,000,000)
Other comprehensive income (loss)		(1,100)											(1,100)
Net (loss) income		(39,400)	$ (24,200)	$ (15,100)										(39,400)
Ending balance (in shares) at Dec. 31, 2021					0	[2]		113,200,000	[1],[3]	76,800,000	[1],[3]
Ending balance at Dec. 31, 2021		$ 330,600			$ 0	[2]	$ 19					$ 323,300	$ (200)	$ 7,500
[1]	There were no shares of Class C common stock issued or outstanding in any of the periods presented
[2]	There were no shares of Preferred Stock outstanding as of December 31, 2021
[3]	As of December 31, 2021 the par value on common stock outstanding was $19 thousand and are not shown

Consolidated Statements of St_2

Consolidated Statements of Stockholders' Equity (Parenthetical) $ in Thousands, shares in Millions	12 Months Ended
	Dec. 31, 2021USD ($)shares
Statement of Stockholders' Equity [Abstract]
Stock issuance costs	$ 13,700
Total stockholders’ equity	330,600
Common Stock
Total stockholders’ equity	$ 19
Common Stock | Class C common stock
Shares outstanding (in shares) | shares	0
Series A Convertible Preferred Stock
Total stockholders’ equity	$ 0	[1]
Shares outstanding (in shares) | shares	0	[1]
[1]	There were no shares of Preferred Stock outstanding as of December 31, 2021

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Cash flows from operating activities:
Net (loss) income	$ (39.4)	$ 102.5	$ 23.1
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation and amortization	2.8	2.3	4.1
Deferred income taxes	(3.7)	1.9	(0.6)
Share-based compensation expense and common stock warrants	134.4	4.8	6
Changes in operating assets and liabilities:
Accounts receivable	30.5	(44.8)	130.5
Other receivables due from related parties	(4.1)	4.4	(3.2)
Inventories	(1.4)	2.7	13.1
Income taxes receivable	(24.9)	(0.5)	2
Other current assets	(30)	(19.5)	0
Other assets	(1.6)	(4.4)	1.3
Accounts payable due to related parties	15.4	(16.5)	(24.8)
Accounts payable	(47.9)	2.1	(79.2)
Accrued expenses	30.5	(5.5)	12.3
Accrued royalties	(24.3)	(3.6)	(3.1)
Other current liabilities	(0.3)	3.5	0.1
Other long-term liabilities	5.9	2.9	(1.7)
Net cash provided by operating activities	41.9	32.3	79.9
Cash flows from investing activities:
Purchases of property and equipment	(4.4)	(1.8)	(0.8)
Purchase of investments	(0.2)	0	0
Net cash used in investing activities	(4.6)	(1.8)	(0.8)
Cash flows from financing activities:
Proceeds from exercise of stock options	12.4	0.2	0.2
Payment of dividends on Series A convertible preferred stock	(0.6)	0	0
Proceeds from IPO, net of $10.7 in direct offering costs	148	0	0
Payments of other offering costs	(2.8)	0	0
Withholding taxes paid on behalf of employees on net settled share-based awards	(71)	0	0
Proceeds from sale of stock under ESPP	1.7	0	0
Net cash provided by financing activities	87.7	0.2	0.2
Effect of exchange rate changes on cash and cash equivalents	(1.1)	0.4	0.1
Net increase in cash and cash equivalents	123.9	31.1	79.4
Cash and cash equivalents at beginning of year	207.7	176.6	97.2
Cash and cash equivalents at end of year	331.6	207.7	176.6
Supplemental disclosure of cash flow information:
Cash paid for income taxes	36.1	27.6	6.4
Cash paid for interest	0.2	0.2	0.2
Supplemental disclosure of non-cash investing and financing activities:
Right-of-use assets obtained in exchange for new operating lease liabilities	3.6	5.2	0.2
Cash paid for amounts included in the measurement of operating lease liabilities	2.9	2.5	1.8
IPO costs not yet paid	$ 0.3	$ 0	$ 0

Consolidated Statements of Ca_2

Consolidated Statements of Cash Flows (Parenthetical) - USD ($) $ in Millions	Mar. 29, 2021	Dec. 31, 2021
IPO
Direct offering costs	$ 10.7	$ 10.7

Organization and Nature of Busi

Organization and Nature of Business	12 Months Ended
	Dec. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization and Nature of Business	Organization and Nature of Business VIZIO Holding Corp. was incorporated as a Delaware corporation on December 7, 2020 in order to facilitate the holding company reorganization of VIZIO, Inc. and its subsidiaries (together with VIZIO Holding Corp., the “Company” or “VIZIO”). VIZIO, Inc. was incorporated in the State of California on October 21, 2002 and commenced operations in January 2003. On March 12, 2021, VIZIO Holding Corp. acquired 100% of the outstanding shares of VIZIO, Inc. The Company’s devices include high-performance Smart televisions (“Smart TVs”), sound bars, and accessories. These products are sold to retailers and through online channels throughout the United States. Additionally, in 2020 VIZIO launched Platform+, which is comprised of SmartCast, the Company’s award-winning Smart TV operating system, which enables a fully integrated entertainment solution, and Inscape, which powers its data intelligence and services. SmartCast delivers content and applications through an easy-to-use interface. It supports leading streaming apps and hosts the Company’s own free ad-supported video app, WatchFree+. The Company provides broad support for third-party voice platforms and second screen experiences to offer additional interactive features and experiences. VIZIO purchases all of its products from manufacturers based in Asia. Since inception, the Company had purchased a portion of its televisions from one manufacturer who holds a noncontrolling interest in the Company through its ownership of Class A common stock; however, in 2021 the Company did not make any material purchases from this manufacturer. Since 2012, VIZIO has purchased a portion of its televisions fro m three manufacturers who are affiliates of an investor who holds a noncontrolling interest in the Company through its ownership of Class A common stock. These manufacturers do not have any significant voting privileges, nor sufficient seats on the Board of Directors that would enable them to significantly influence any of the Company’s strategic or operating decisions. All transactions executed with the aforementioned manufacturers are presented as related party transactions. Reorganization Transaction On March 12, 2021, the Company implemented a holding company structure through the merger of VIZIO Reorganization Sub, LLC, a wholly-owned subsidiary of VIZIO Holding Corp., pursuant to an agreement and plan of merger, with and into VIZIO, Inc., with VIZIO, Inc. surviving as a wholly-owned subsidiary of VIZIO Holding Corp (the “Reorganization Transaction”). As a result of the Reorganization Transaction: • VIZIO Holding Corp. became a holding company with no material assets other than 100% of the equity interests of VIZIO, Inc.; • Each share of Class A common stock and Series A convertible preferred stock, respectively, of VIZIO, Inc. was cancelled in exchange for the issuance of one share of Class A common stock and Series A convertible preferred stock, respectively, of VIZIO Holding Corp.; • VIZIO Holding Corp. began consolidating the financial results of VIZIO, Inc. and its subsidiaries; • VIZIO Holding Corp. assumed the VIZIO, Inc. 2007 Incentive Award Plan and the VIZIO, Inc. 2017 Incentive Award Plan, and the stock options and other awards granted thereunder, on a one-for-one basis and on the same terms and conditions; and • All of the business operations continue to be conducted through VIZIO, Inc. and its subsidiaries. Between the incorporation of VIZIO Holding Corp. on December 7, 2020 and the completion of the Reorganization Transaction, VIZIO Holding Corp. did not conduct any activities other than those incidental to its formation and preparation for the IPO (as defined below). Forward Stock Split On March 15, 2021, the Company amended its Amended and Restated Certificate of Incorporation to effect a nine-for-one forward stock split of the Company’s Class A common stock. The number of authorized shares of Class A common stock was proportionally increased in accordance with the nine-for-one stock split, and the par value of the Class A common stock was not adjusted as a result of this forward stock split. As a result of the stock split, each share of the Company’s Series A preferred stock became convertible into 225 shares of Class A common stock. All Class A common stock, stock options, RSUs and per share information presented within these consolidated financial statements and related notes have been adjusted to reflect this forward stock split on a retroactive basis for all periods presented. Initial Public Offering On March 29, 2021, the Company closed its initial public offering (“IPO”) of 12,250,000 shares of its Class A common stock at a public offering price of $21.00 per share. The Company issued and sold 7,560,000 shares of Class A common stock, and certain existing stockholders sold an aggregate of 4,690,000 shares of Class A common stock. The Company received net proceeds of approximately $144.9 million after deducting underwriting discounts and commissions of approximately $10.7 million and offering expenses of $3.1 million. On March 31, 2021, certain existing stockholders sold an additional 1,709,274 shares of Class A common stock at $21.00 per share pursuant to the underwriters’ option to purchase additional shares. The Company did not receive any proceeds from the sale of shares by the selling stockholders. Immediately prior to the completion of the IPO, 134,736 shares of Series A redeemable convertible preferred stock then outstanding converted into 30,315,600 shares of shares of Class A common stock. Immediately prior to the completion of the IPO, the Company filed its Amended and Restated Certificate of Incorporation, which authorizes a total of 1,000,000,000 shares of Class A common stock, 200,000,000 shares of Class B common stock, 150,000,000 shares of Class C common stock, and 100,000,000 shares of undesignated preferred stock. Immediately after the conversion and prior to the completion of the IPO, a total of 98,633,025 shares of Class A common stock held by William Wang and his respective affiliated trusts were exchanged for an equivalent number of shares of Class B common stock pursuant to the terms of certain exchange agreements. As a result, following the completion of the IPO, the Company has three classes of authorized common stock: Class A common stock, Class B common stock and Class C common stock. See Note 11 to these consolidated financial statements for further information. Impact of COVID-19 On March 11, 2020, the COVID-19 outbreak was declared a pandemic by the World Health Organization. The challenges posed by the COVID-19 pandemic on the global economy increased significantly as the year progressed. In response to COVID-19, national and local governments around the world have instituted certain measures, including travel bans, prohibitions on group events and gatherings, shutdowns of certain businesses, curfews, shelter-in-place orders and recommendations to practice social distancing. The full impact of COVID-19 on the Company’s results of operations, financial condition and cash flows is dependent on future developments, including the duration of the pandemic and the related length of its impact on the global economy, which are uncertain and cannot be predicted at this tim e. However, to date the Company has not been materially adversely impacted by the COVID-19 pandemic despite the global shipping delays caused by port congestion during 2021.

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2021
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies (a) Basis of Consolidation The consolidated financial statements include the accounts of VIZIO and all subsidiaries. All intercompany transactions and balances have been eliminated in consolidation. The functional currency of most of the foreign subsidiaries is the U.S. dollar. The accounts of these remaining foreign subsidiaries have been translated using the U.S. dollar as the functional currency. Gains or losses resulting from remeasurement of these accounts from local currencies into U.S. dollars were immaterial to the consolidated financial statements. Financial statements of the Company’s foreign subsidiaries for which the functional currency is the local currency are translated into U.S. dollars using the exchange rate at each balance sheet date for assets and liabilities and the transaction date exchange rate for statements of operations items. Currency translation adjustments are recorded in accumulated other comprehensive income, a component of stockholders’ equity. Reclassifications The Company has reclassified certain amounts relating to its prior period results. In 2021, the Company reclassified research and development costs from Selling, general and administrative. Prior year amounts have been reclassified to conform to the current year presentation. Use of Estimates The preparation of consolidated financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect certain amounts reported in the consolidated financial statements and accompanying notes. Actual results may differ from those estimates and assumptions. Significant items subject to such estimates and assumptions include the allowances for doubtful accounts and sales returns, reserves for excess and obsolete inventory, accrued price protection and rebates, accrued royalties, share-based compensation, intellectual property and related intangible assets, valuation of deferred tax assets and other contingencies. Supplier and customer concentrations also increase the degree of uncertainty inherent in these estimates and assumptions. (b) Cash and Cash Equivalents All highly liquid financial instruments with a remaining maturity of 90 days or less when purchased are presented as cash equivalents. (c) Accounts Receivable and Allowance for Doubtful Accounts Accounts receivable consist of amounts due to VIZIO from sales arrangements executed under normal business activities and are recorded at invoiced amounts which is the amount VIZIO expects to be entitled to receive. The Company presents the aggregate accounts receivable balance net of an allowance for doubtful accounts and extends credit to its customers and mitigates a portion of the Company’s credit risk through credit insurance. Generally, collateral or other security is not required for outstanding accounts receivable. Credit losses, if any, are recognized based on management’s evaluation of the aging of accounts receivable, assessment of collectibility, retailer-specific financial conditions as well as an evaluation of current industry trends and general economic conditions. Past-due balances are assessed by management on a monthly basis and balances are written off when the customer’s financial condition no longer warrants pursuit of collections. Although VIZIO expects to collect amounts due, actual collections may differ from estimated amounts. (d) Concentrations of Credit Risk Financial instruments that potentially create significant concentrations of credit risk consist principally of accounts receivable and cash in banks. The Company maintains its cash balances at various financial institutions. At times, such balances may exceed federally insured limits. No losses have been experienced in any such accounts. (e) Inventories Inventories are stated at the lower of cost, using the first-in, first-out method, or net realizable value. Inventories are reviewed for excess and obsolescence based upon demand forecasts for a specific time horizon. The Company records a charge to cost of sales for the amount required to reduce the carrying value of inventory to net realizable value. For inventories related to certain manufacturers, VIZIO may be contractually required to purchase this inventory if the product is (i) requested by VIZIO, (ii) received at the manufacturers’ warehouse on an agreed-upon receipt date, and (iii) remains unsold after a predetermined period, which generally exceeds 30 to 45 days. (f) Property and Equipment Property and equipment are recorded at historical cost, less accumulated depreciation and impairment, if applicable. Depreciation is computed using the straight-line method based upon the following estimated useful lives: Years Buildings 39 Machinery and equipment 5 Furniture and fixtures 7 Computer and software 3 Automobiles 5 Leasehold improvements are amortized using the straight-line method over the lesser of the lease term or the estimated useful life of the assets. Maintenance and repairs are expensed as incurred. Capitalized Software Development Costs The Company capitalizes certain costs associated with creating and enhancing internally developed software related to the Company’s technology infrastructure and records these amounts within property and equipment, net. These costs include personnel and related employee benefit expenses for employees who are directly associated with and who devote time to software development projects and contractor costs. Software development costs that do not qualify for capitalization are expensed as incurred and recorded as selling, general and administrative or research and development expenses in the consolidated statements of operations. Software development activities typically consist of three stages: (1) the preliminary project stage; (2) the application development stage; and (3) the post implementation stage. Costs incurred in the planning and post implementation phases, including costs associated with training and repairs and maintenance, are expensed as incurred. The Company capitalizes costs associated with software developed when the preliminary project stage is completed, management implicitly or explicitly authorizes and commits to funding the project and it is probable that the project will be completed and perform as intended. Costs incurred in the application development stage, including significant enhancements and upgrades, are capitalized. Capitalization ends once a project is substantially complete and the software is ready for its intended purpose. Software development costs are amortized using a straight-line method over the estimated useful life, commencing when the software is ready for its intended use. The straight-line recognition method approximates the manner in which the expected benefit will be derived. During the years ended December 31, 2021, 2020 and 2019, the Company capitalized software development costs of $2.2 million, $3.1 million, and $3.8 million, respectively. During the years ended December 31, 2021, 2020 and 2019 amortization of capitalized software development costs was $2.8 million, $3.4 million and $3.0 million, respectively, and are recorded in costs of goods sold in the accompanying consolidated statements of operations. (g) Goodwill Goodwill represents the excess of the purchase price over the fair value of the net tangible and intangible assets acquired in a business combination. Goodwill is not amortized but is tested at least annually for impairment as of the first day of the fourth fiscal quarter, or more frequently if indicators of impairment exist during the fiscal year. Events or circumstances which could trigger an impairment review include a significant adverse change in legal factors or in the business climate, loss of key customers, an adverse action or assessment by a regulator, unanticipated competition, a loss of key personnel, significant changes in the manner of the Company’s use of the acquired assets or the strategy for its overall business, significant negative industry or economic trends, or significant underperformance relative to expected historical or projected future results of operations. The Company assessed the conclusion regarding segments and reporting units in conjunction with its annual goodwill impairment test, which is performed on December 31, and has determined that it has one reporting unit for the purposes of allocating and testing goodwill. All of the Company’s goodwill is attributable to the Platform+ reporting unit. When testing goodwill for impairment, the Company first performs a qualitative assessment. If the Company determines it is more likely than not that a reporting unit’s fair value is less than the carrying amount, then a one-step impairment test is required. If the Company determines it is not more likely than not a reporting unit’s fair value is less than the carrying amount, then no further analysis is necessary. To identify whether impairment exists, the Company compares the estimated fair value of the reporting unit with the carrying amount, including goodwill. If the estimated fair value of the reporting unit exceeds the carrying amount, goodwill is not considered to be impaired. If, however, the fair value of the reporting unit is less than the carrying amount, then such balance would be recorded as an impairment loss. Any impairment loss is limited to the carrying amount of goodwill within the entity. There has been no impairment of goodwill for any periods presented. (h) Leases Under ASC 842, the Company determines whether an arrangement is a lease at contract inception. Operating leases right-of-use assets are included in other current assets and other assets, and lease liabilities are included in other current liabilities and other long-term liabilities in the Company’s consolidated balance sheets. Operating lease charges are recorded in selling, general and administrative expenses in the consolidated statements of operations. Operating lease right-of-use assets and operating lease liabilities are recognized based on the present value of the future lease payments over the lease term at the commencement date. The Company does not separate lease and non-lease components for all underlying asset classes. As most of the Company’s leases do not provide a readily determinable implicit rate, it estimates the incremental borrowing rate, using the formula for the interest rate on the Company’s collateralized borrowing at the point in time of lease start or the adoption date (whichever is later), to discount the lease payments based on information available at lease commencement. The Company determines the incremental borrowing rate for each lease based primarily on the lease term and the economic environment of the applicable country or region. The operating lease right-of-use asset also includes any prepaid lease payments and is reduced by existing lease incentive balances upon adoption. The Company does not include the cost of lease extensions in the right-of-use asset until it is reasonably certain such an option will be executed, and the cost can be determined. The Company recognizes lease expense for lease payments over the lease term, while variable lease payments, such as common area maintenance, are recognized as incurred. The Company elected the practical expedient to not recognize operating lease right-of-use assets and operating lease liabilities that arise from short-term leases (i.e., leases with a term of 12 months or less). (i) Revenue Recognition The Company derives revenue primarily from the sale of televisions and sound bars, advertising and data services. Revenue is recognized when control of the promised goods or services is transferred to the Company’s retailers, in an amount that reflects the consideration to which it expects to be entitled in exchange for those goods or services. The Company applies a five-step approach as defined in Financial Accounting Standards Board (“FASB”) ASC 606, Revenue from Contracts with Customers (Topic 606), in determining the amount and timing of revenue to be recognized: (1) identifying the contract with a customer; (2) identifying the performance obligations in the contract; (3) determining the transaction price; (4) allocating the transaction price to the performance obligations in the contract; and (5) recognizing revenue when the corresponding performance obligation is satisfied. The Company sells products to certain retailers under terms that allow them to receive price protection on future price reductions and may provide for limited rights of return, discounts and advertising credits. Device Revenue Each distinct promise to transfer products is considered to be an identified performance obligation for which revenue is recognized at a point in time upon transfer of control of the products to the retailer. Transfer of control occurs upon shipment or delivery to the retailer. Point in time recognition is determined as products to be sold represent an asset with an alternative use. Warranty returns have not been material, and warranty-related services are not considered a separate performance obligation. Pricing adjustments and estimates of returns are treated as variable consideration for purposes of determining the transaction price. Sales returns are generally accepted at the Company’s discretion. Variable consideration is estimated using the most likely amount considering all reasonably available information, including the Company’s historical experience and current expectations, and is reflected in the transaction price when sales are recorded. Revenue recorded excludes taxes collected on sales to retailers. Accounts receivable represents the unconditional right to receive consideration from retailers. Substantially all payments are collected within the Company’s standard terms, which do not include a significant financing component. There have been no material impairment losses on accounts receivable in any of the periods presented. There have been no material contract assets or contract liabilities recorded on the consolidated balance sheet in any of the periods presented. All of the Company’s products are directly shipped by vessel from manufacturers to third-party logistics and distribution centers in the United States. Generally, the Company ships the product to its retailers with freight carriers contracted by the Company. Shipping terms on sales of products are generally FOB destination but may vary depending upon the related contractual arrangement with the retailers. Amounts billed to retailers for shipping and handling costs are included in net revenue. Platform+ Revenue The Company generates Platform+ revenue through sales of advertising and related services, content distribution, subscription and transaction revenue shares, promotions, sales of branded channel buttons on remote controls and data licensing arrangements. The Company’s digital ad inventory consists of inventory on WatchFree+ and its home screen along with ad inventory it obtains through its content provider and other third-party application agreements. The Company also re-sells video inventory that it purchases from content publishers and directly sells third-party inventory on a revenue share or cost-per-thousand (“CPM”) basis. Revenue for advertising and related services is primarily generated by the sale of video and display advertising. Advertising is sold directly on a CPM basis and is evidenced by an Insertion Order, (“IO”). The Company recognizes revenue as the number of impressions is measured and delivered, up to the amount identified in the IO. An IO may include multiple performance obligations to the extent it contains distinct advertising products or services. Advertising inventory may also be sold programmatically by which net revenues generated by the Company’s supply-side platforms are recognized. The Company recognizes revenue for advertising and related services on either a gross or net basis based on its determination as to whether it is acting as the principal in the revenue generation process or as an agent. Subscription and transaction revenue is generated through revenue share agreements with content providers. These revenue share agreements generally apply to new subscriptions for accounts that sign up for new services or to purchases or rentals through the Company’s SmartCast operating system. The Company recognizes revenue on a net basis as it is deemed to be the agent between content publishers and consumers. The Company sells content publishers placements of buttons on its remote controls that provide one-touch access to a third-party applications’ content. The Company typically receives a fixed fee per button for each Device or individually packaged remote unit sold over a defined distribution period. The Company’s only performance obligations for these arrangements are placement of the app button on the remote and delivery of the TV and remote to the retailer. Revenue is recognized at the point in time which transfer of title to the retailer occurs. For revenue from data licensing agreements with customers, each promise to transfer an individual data license in the contract also is separately identifiable; the individual data licenses do not, together, constitute a single overall promise to the customer. Each distinct license of data has substantial standalone functionality at the point in time they are transferred to the customer because the data can be utilized and processed in accordance with the rights provided in the contract without any further participation by the Company. Therefore, each distinct data license is a right to use the Company’s functional intellectual property. Control of each distinct data license transfers when it is uploaded or delivered to the customer. Data is delivered at least on a monthly basis during the data delivery phase of the contract. The transaction price for data services revenue includes both fixed and variable consideration. The fixed consideration within the customer contract is allocated to each performance obligation as the performance obligations are satisfied. The performance obligations are satisfied over time during the data delivery period. Revenue for the fixed consideration is recognized ratably beginning upon the first delivery of data throughout the remainder of the contract. Variable consideration is recorded when it is earned in accordance with the sales or usage-based royalty exception. The revenue recognized from the contract liabilities consisted of the Company satisfying performance obligations during the normal course of business. The Company did not identify nor record material contract assets as of December 31, 2021 and 2020. Additionally, no costs associated with obtaining contracts with customers were capitalized, nor any costs associated with fulfilling its contracts. All costs to obtain contracts were expensed as incurred as a practical expedient. (j) Shipping and Handling Costs All shipping and handling costs related to purchases of inventory are included in the purchase price of each product negotiated with the manufacturer and recorded in inventory and classified in cost of goods sold. All shipping and handling costs charged to customers are treated as fulfillment costs and are presented within cost of goods sold. (k) Recycling Costs The Company incurs recycling costs in order to comply with electronic waste recycling programs within certain states. These fees are assessed by the states using current market share and actual costs incurred on administration of such programs and are expensed as incurred. Recycling costs were $7.9 million, $9.3 million, and $10.7 million for the years ended December 31, 2021, 2020 and 2019, respectively, and are recorded in cost of goods sold in the accompanying consolidated statements of operations. (l) Customer Allowances The Company periodically grants certain sales discounts and incentives to customers, such as rebates and price protection, which are treated as variable consideration for purposes of determining the transaction price. In certain instances, the Company will, in turn, negotiate with its manufacturers for reimbursement of a portion of the incentives so that the manufacturers are responsible for absorbing some of the rebates and price protection. The Company’s procedures for estimating customer allowances recorded as a reduction of revenue are based upon historical experience, as adjusted for the current environment, and management judgment. Customer allowances are accrued for when the related product sale is recognized. The accrued customer allowances are presented on the consolidated balance sheets in accrued expenses and recorded in the consolidated statements of operations as a reduction of net revenue. The Company offers sales incentives through various programs, consisting primarily of discounts, cooperative advertising and market development fund programs. The Company records cooperative advertising and market development fund programs with customers as a reduction to revenue unless the Company receives a distinct benefit in exchange for credits claimed by the customer and can reasonably estimate the fair value of the benefit received. These arrangements are recorded as accrued liabilities. Cooperative advertising arrangements recorded as a reduction of net revenue totaled $3.1 million, $6.6 million and $14.1 million for the years ended December 31, 2021, 2020 and 2019, respectively. (m) Selling, general and administrative Selling, general and administrative expenses consist primarily of personnel related costs for employees, including salaries, bonuses, benefits, and share-based compensation, as well as consulting expenses, fees for professional services, facilities and information technology. (n) Research and Development Costs Research and development expense consists primarily of employee-related costs, including salaries and bonuses, share-based compensation expense, and employee benefits costs, third-party contractor costs, and related allocated overhead costs. In certain cases, costs are incurred to purchase materials and equipment for future use in research and development efforts. These costs are capitalized and expensed as consumed. (o) Marketing Costs Marketing expenses consist primarily of advertising and marketing promotions of the Company’s brand and products, including media advertisement costs, merchandising and display costs, trade show and event costs, and sponsorship costs. (p) Product Warranty All products have a one (q) Income Taxes Income taxes are accounted for using the asset and liability method. Under this method, deferred income tax assets and liabilities are recognized for future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases and operating loss and tax credit carryforwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. The Company recognizes the effect of income tax positions only if those positions are more likely than not of being sustained upon examination. Changes in recognition or measurement are reflected in the period in which the change in judgment occurs. Valuation allowances are recorded against tax assets when it is determined that it is more likely than not that the assets will not be realized. Interest related to income taxes is recorded in other income, net and penalties are recorded in selling, general and administrative expense. The Company makes estimates, assumptions and judgments to determine its provision for income taxes and also for deferred tax assets and liabilities and any valuation allowances recorded against deferred tax assets. Actual future operating results and the underlying amount and type of income could differ materially from the Company’s estimates, assumptions and judgments thereby impacting its consolidated financial position and results of operations. (r)Net Income (Loss) Per Share The Company computes earnings per share (“EPS”) of Class A and Class B common stock using the two-class method for participating securities. Basic (loss) earnings per share attributable to common stockholders is calculated by dividing net (loss) income attributable to common stockholders by the weighted-average number of Class A and Class B common shares outstanding. Diluted (loss) earnings per share attributable to common stockholders adjusts the basic (loss) earnings per share attributable to common stockholders and the weighted-average number of common shares outstanding for the potentially dilutive impact of RSUs and stock options using the treasury stock method. (s) Share-Based Compensation Share-based compensation expense resulting from grants of employee stock options, restricted stock awards, restricted stock units (“RSUs”) and common stock warrants is recognized in the consolidated financial statements based on the respective grant date fair values of the awards. Stock option and warrant grant date fair values are estimated using the Black-Scholes-Merton option pricing model. The grant date fair value of the Company's RSUs is determined based on the fair value of the Company's common stock on the date of grant. The benefits of tax deductions in excess of recognized compensation cost are reported as an operating cash flow. Forfeitures are accounted for as they occur. Under the Black-Scholes-Merton model, the determination of the grant date fair value of share-based awards is affected by the estimated fair value per share of our common stock as well as other subjective assumptions, including, but not limited to, the expected term of the share-based awards, expected stock price volatility, risk-free interest rates, and expected dividend yields, which are estimated as follows: • Fair value per share of the Company’s common stock . Prior to the IPO in 2021, the Company was privately held with no active public market for its common stock. Given the absence of an active market for the Company’s common stock, the board of directors approves the fair value of the common stock at the time of grant for each share-based award based upon several factors, including consideration of input from management and contemporaneous third-party valuations. Each fair value estimate was based on a variety of factors, including the forecasted financial performance, prices, rights, preferences and privileges of the Company’s preferred stock relative to those of its common stock, pricing and timing of transactions in the Company’s equity, the lack of marketability of the common stock, actual operating and financial performance, developments and milestones in the Company, the market performance of comparable publicly traded companies, the likelihood of achieving a liquidity event, and U.S. and global capital market conditions, among other factors. After the IPO, the fair value of the Company’s common stock is based on the closing market price on the date of grant. • Expected term . The Company determines the expected term of the awards using the simplified method due to the Company’s insufficient history of option exercise and forfeiture activity. The simplified method estimates the expected term based on the average of the vesting period and contractual term of the stock option. • Expected volatility. The Company estimates the expected volatility based on the volatility of similar publicly held entities (referred to as “guideline companies”) over a period equivalent to the expected term of the awards. In evaluating the similarity of guideline companies, the Company considered factors such as industry, stage of life cycle, size, and financial leverage. • Risk-free interest rate . The risk-free interest rate is based on the implied yield currently available on U.S. Treasury issues with terms approximately equal to the expected life of the option. • Estimated dividend yield . The expected dividend based on the Company’s historical dividend activity is zero. The assumptions used in calculating the fair value of share-based awards represent the Company’s best estimates, however, these estimates involve inherent uncertainties and the application of judgment. As a result, if factors change or the Company uses different assumptions, share-based compensation expense could be materially different in the future. (t) Subsequent Events In connection with the preparation of these consolidated financial statements, the Company evaluated any subsequent events after the balance sheet date of December 31, 2021 and through March 10, 2022, the date that the financial statements were available to be issued. (u) Recently Issued Accounting Pronouncements In December 2019, the FASB issued guidance, ASU No. 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes, to reduce complexity in accounting standard. The guidance simplifies the accounting for income taxes by removing certain exceptions to the general principles in Accounting Standards Codification Topic 740 ("ASC 740") as well as by improving consistent application of the topic by clarifying and amending existing guidance. This standard was effective for the Company for the year ended December 31, 2021. The adoption of this standard did not result in a material impact to the Company’s consolidated financial statements.

Significant Manufacturers

Significant Manufacturers	12 Months Ended
	Dec. 31, 2021
Risks and Uncertainties [Abstract]
Significant Manufacturers	Significant Manufacturers VIZIO purchases a significant amount of its product inventory from certain manufacturers. The inventory is purchased under standard product supply agreements that outline the terms of the product delivery. Once all aspects of the product are agreed upon, the manufacturers are then responsible for transporting the product to their warehouses located in the United States. The manufacturers are considered the importers of record and are required to insure the product as it is shipped to the warehouses. The title and risk of loss of the product passes to VIZIO upon shipment from the manufacturer’s warehouse in the United States to the customer. The product supply agreement stipulates that the manufacturer will (i) generally reimburse VIZIO for at least a portion of the price protection or sales concessions negotiated between the Company and customers on product purchased, and (ii) indemnify VIZIO against all liability resulting from valid and enforceable patent infringement with regard to product purchased under the agreement except if such infringement arises out of the Company’s modification or misuse of the product. The Company has the following significant concentrations related to suppliers: Year Ended 2021 2020 Inventory purchases: Supplier A 28 % 29 % Supplier B – related party 13 8 Supplier C 8 10 Supplier D – related party 40 44 The Company is currently reliant upon these manufacturers for products. Although VIZIO can obtain products from other sources, the loss of a significant manufacturer could have a material impact on the Company’s financial condition and results of operations as the products that are being purchased may not be available on the same terms from another manufacturer. VIZIO is a wholesale distributor of televisions and other home entertainment products, which are sold to the largest retailers and wholesale clubs in North America, primarily in the United States. The Company’s sales can be impacted by consumer spending and the cyclical nature of the retail industry. The following customers account for more than 10% of total net revenue or 10% of accounts receivable: Year Ended 2021 2020 2019 Net Revenue: Customer A 40 % 46 % 43 % Customer B 11 % 11 % 14 % Customer C 12 % 12 % 14 % Customer D 10 % 10 % 6 % Customer E 5 % 10 % 15 % As of 2021 2020 Net Receivables: Customer A 44 % 41 % Customer B 10 % 18 % Customer C 10 % 16 %

Significant Customers

Significant Customers	12 Months Ended
	Dec. 31, 2021
Risks and Uncertainties [Abstract]
Significant Customers	Significant Manufacturers VIZIO purchases a significant amount of its product inventory from certain manufacturers. The inventory is purchased under standard product supply agreements that outline the terms of the product delivery. Once all aspects of the product are agreed upon, the manufacturers are then responsible for transporting the product to their warehouses located in the United States. The manufacturers are considered the importers of record and are required to insure the product as it is shipped to the warehouses. The title and risk of loss of the product passes to VIZIO upon shipment from the manufacturer’s warehouse in the United States to the customer. The product supply agreement stipulates that the manufacturer will (i) generally reimburse VIZIO for at least a portion of the price protection or sales concessions negotiated between the Company and customers on product purchased, and (ii) indemnify VIZIO against all liability resulting from valid and enforceable patent infringement with regard to product purchased under the agreement except if such infringement arises out of the Company’s modification or misuse of the product. The Company has the following significant concentrations related to suppliers: Year Ended 2021 2020 Inventory purchases: Supplier A 28 % 29 % Supplier B – related party 13 8 Supplier C 8 10 Supplier D – related party 40 44 The Company is currently reliant upon these manufacturers for products. Although VIZIO can obtain products from other sources, the loss of a significant manufacturer could have a material impact on the Company’s financial condition and results of operations as the products that are being purchased may not be available on the same terms from another manufacturer. VIZIO is a wholesale distributor of televisions and other home entertainment products, which are sold to the largest retailers and wholesale clubs in North America, primarily in the United States. The Company’s sales can be impacted by consumer spending and the cyclical nature of the retail industry. The following customers account for more than 10% of total net revenue or 10% of accounts receivable: Year Ended 2021 2020 2019 Net Revenue: Customer A 40 % 46 % 43 % Customer B 11 % 11 % 14 % Customer C 12 % 12 % 14 % Customer D 10 % 10 % 6 % Customer E 5 % 10 % 15 % As of 2021 2020 Net Receivables: Customer A 44 % 41 % Customer B 10 % 18 % Customer C 10 % 16 %

Accounts Receivable

Accounts Receivable	12 Months Ended
	Dec. 31, 2021
Receivables [Abstract]
Accounts Receivable	Accounts Receivable Accounts receivable consists of the following (in millions): As of 2021 2020 Accounts receivable $ 375.2 $ 405.6 Allowance for doubtful accounts (0.1) — Total accounts receivable, net of allowances $ 375.1 $ 405.6

Inventories

Inventories	12 Months Ended
	Dec. 31, 2021
Inventory Disclosure [Abstract]
Inventories	Inventories Inventories consist of the following (in millions): As of 2021 2020 Inventory on hand $ 5.3 $ 3.2 Inventory in transit 6.6 7.3 Total inventory $ 11.9 $ 10.5

Property and Equipment

Property and Equipment	12 Months Ended
	Dec. 31, 2021
Property, Plant and Equipment [Abstract]
Property and Equipment	Property and Equipment Property and equipment consist of the following (in millions): As of 2021 2020 Building $ 10.1 $ 10.0 Machinery and equipment 1.6 1.3 Leasehold improvements 3.6 3.4 Furniture and fixtures 3.2 2.8 Computer and software 22.7 19.2 Total property and equipment 41.2 36.7 Less accumulated depreciation and amortization (30.9) (28.8) Total property and equipment, net $ 10.3 $ 7.9 Depreciation expense for fixed assets was $2.1 million, $1.6 million and $3.6 million for the years ended December 31, 2021, 2020 and 2019, respectively.

Segment Information

Segment Information	12 Months Ended
	Dec. 31, 2021
Segment Reporting [Abstract]
Segment Information	Segment InformationOperating segments are components of an enterprise for which discrete financial reporting information is available and evaluated regularly by the chief operating decision maker (CODM) in deciding how to allocate resources and in assessing performance. The Company has identified its Chief Executive Officer as the CODM. The CODM views the Company’s operations and manages the businesses as two operating segments, which are also the Company’s reportable segments: (i) Device Revenue, and (ii) Platform+ Revenue. The CODM reviews the operating results of these segments on a regular basis and allocates company resources to these two segments based on the needs of each segment and the availability of resources. The Company assesses its determination of operating segments at least annually. Segment revenue and gross profit are disclosed on the face of the statement of operations.

Goodwill

Goodwill	12 Months Ended
	Dec. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill	Goodwill The Company’s goodwill balance was $44.8 million as of December 31, 2021 and 2020 . The goodwill balance was determined based on the excess of the purchase price paid over the fair value of the identifiable net assets acquired and represents its future revenue and earnings potential and certain other assets acquired that do not meet the recognition criteria, such as assembled workforce. The Company performed an impairment test of its goodwill as of the first day of the fourth fiscal quarter in accordance with its accounting policy. The results of this test indicated that the Company’s goodwill was not impaired. No goodwill impairment was recorded for the years ended December 31, 2021, 2020 and 2019.

Accrued Expenses

Accrued Expenses	12 Months Ended
	Dec. 31, 2021
Payables and Accruals [Abstract]
Accrued Expenses	Accrued Expenses The Company’s accrued expenses consisted of the following (in millions): As of 2021 2020 Accrued price protection $ 67.2 $ 61.3 Accrued other customer related expenses 48.4 54.4 Accrued supplier/partner related expenses 39.2 12.4 Accrued payroll expenses 21.6 10.9 Accrued tax expenses — 2.7 Accrued other expenses 9.4 13.3 Total accrued expenses $ 185.8 $ 155.0

Stockholders' Equity

Stockholders' Equity	12 Months Ended
	Dec. 31, 2021
Equity [Abstract]
Stockholders' Equity	Stockholders’ Equity Convertible Preferred Stock Pursuant to the terms of the Company’s Amended and Restated Certificate of Incorporation, which became effective on March 29, 2021 in connection with the closing of the IPO (the “Restated Certificate”) the Company’s Board of Directors is authorized to issue up to an aggregate of 100,000,000 shares of undesignated preferred stock, par value $0.0001 per share, in one or more series and to fix or alter the designations, preferences, rights and any qualifications, limitations or restrictions of the shares of each of these series including the dividend rights, dividend rates, conversion rights, voting rights, term of redemption, including sinking fund provisions, redemption price or prices, liquidation preferences and the number of shares constituting any series or designations of a series without further vote or action by the stockholders. Series A Convertible Preferred Stock On March 29, 2021, in connection with the closing of the Company’s IPO, all 134,736 shares of Series A convertible preferred stock outstanding immediately prior to the IPO were converted into an aggregate of 30,315,600 shares of Class A common stock and recorded in the consolidated balance sheet to common stock and additional paid-in capital. Additionally, approximately $0.6 million in dividends accumulated through the conversion date were paid to the holders of outstanding shares of Series A convertible preferred stock as of immediately prior to the closing of the IPO. As of the effectiveness of the Amended and Restated Certificate of Incorporation on March 29, 2021, there are no shares of the Series A convertible preferred stock authorized for issuance. The Series A convertible preferred stock was issued with the following terms: Voting Rights : The holders of convertible preferred stock has no voting rights but were entitled to participate as one class of stock in the election of one member of the Company’s Board of Directors. Dividend Rate : The holders of Series A convertible preferred stock were entitled to receive cumulative dividends in preference to any dividends on the Company’s outstanding common stock at the per annum rate of 6% of the stated value when and as declared by the Board of Directors. In 2018 and 2019, the Board of Directors did not declare a dividend payment for preferred or common stockholders. Accumulated preferred dividends were $0 and $0.6 million at December 31, 2021 and 2020, respectively. Conversion Feature : Each share of Series A convertible preferred stock was automatically convertible into shares of common stock upon the occurrence of an underwritten public offering resulting in aggregate net proceeds of at least $15,000 and pursuant to a registration statement under the Securities Act of 1933 or on any recognized foreign exchange. Each share of Series A convertible preferred stock shall be converted by dividing the initial issuance price by the conversion price upon the commencement of a transaction as defined above. The conversion price was the initial issuance price as adjusted for any anti-dilution provisions as defined in the articles of incorporation. Liquidation Preference : The holders of the preferred stock were entitled to receive, in preference to the holders of the common stock, a per share amount equal of $14.84 plus all declared but unpaid dividends on such shares. After the holders of the Series A convertible preferred stock receive their full liquidation preference, only then shall all other stockholders be entitled to share in the remaining proceeds based on the number of shares held. Common Stock As of December 31, 2021, pursuant to the terms of the Restated Certificate, the Company is authorized to issue 1,350,000,000 shares of common stock with $0.0001 par value, of which 193,255,537 shar es are issued and 190,023,855 outstanding. The Company had three classes of authorized common stock, Class A common stock, Class B common stock and Class C common stock. The rights of the holders of Class A common stock, Class B common stock, and Class C common stock are identical, except with respect to voting and conversion. The Company’s common stock includes the following terms: Voting rights: Holders of the Company’s Class A common stock and Class B common stock have identical rights, provided that, except as otherwise expressly provided in the Company’s amended and restated certificate of incorporation or required by applicable law, on any matter that is submitted to a vote of its stockholders, the holders of Class A common stock are entitled to one vote per share of Class A common stock and holders of Class B common stock are entitled to 10 votes per share of Class B common stock. Holders of the Company’s Class C common stock are not entitled to vote on any matter that is submitted to a vote of stockholders, except as otherwise required by law. Dividends : The holders of the Company’s common stock are entitled to share equally, on a per share basis, in any dividends declared by its board of directors out of legally available funds, subject to the rights of holders of preferred stock, if any, and the terms of any existing or future agreements between the Company and its lenders. Dividends may not be paid on common stock unless all accrued dividends on preferred stock, if any, have been paid or declared and set aside. Liquidation : In the event of a liquidation, dissolution or winding up, holders of the Company’s common stock are entitled to share equally, on a per share basis, in all assets legally available for distribution after payment of all debts and other liabilities, and subject to the prior rights of any holders of outstanding shares of preferred stock, if any. Change of control transactions: In any merger, consolidation or business combination with or into another corporation or other business entity, whether or not the Company is the surviving corporation, the consideration per share to be received by holders of common stock in such merger, consolidation or business combination must be identical, except that in any such transaction in which shares of capital stock are distributed, such shares may differ as to voting rights to the extent and only to the extent that the voting rights of the Company’s common stock differ as provided in its amended and restated certificate of incorporation. Subdivisions and combinations: If the Company in any manner subdivide or combine the outstanding shares of one class of common stock, its amended and restated certificate of incorporation requires that the outstanding shares of the other class of common stock will be subdivided or combined in the same manner. Conversion of Class B Common Stock: Each share of Class B common stock will be convertible into one fully paid and nonassessable share of Class A common stock at the option of the holder at any time and upon any sale or other disposition of each such share of Class B common stock whether or not for value, except certain transfers to entities, to the extent the transferor retains sole dispositive power and exclusive voting control with respect to the shares of Class B common stock, and certain other transfers described in the amended and restated certificate of incorporation. Additionally, each outstanding share of Class B common stock will convert on the date fixed by the board of directors that is no less than 61 days and no more than 180 days following (i) the first time that Mr. Wang and his affiliates hold less than the 25% Ownership Threshold; (ii) following the date on which Mr. Wang is terminated for cause (as defined in the Company’s amended and restated certificate of incorporation); or (iii) the date upon which (A) Mr. Wang is no longer providing services to us as the Company’s Chief Executive Officer and (B) Mr. Wang is no longer a member of the Company’s Board of Directors, either as a result of Mr. Wang’s voluntary resignation or as a result of a request or agreement by Mr. Wang not to be re-nominated as a member of the Company’s board of directors at a meeting of its stockholders. Additionally, shares of Class B common stock will convert automatically at the close of business on the date that is 12 months after the death or permanent and total disability of Mr. Wang, during which 12-month period the shares of its Class B common stock shall be voted as directed by a person designated by Mr. Wang and approved by the board of directors (or if there is no such person, then the secretary then in office). Conversion of Class C Common Stock: After the conversion or exchange of all outstanding shares of the Company’s Class B common stock into shares of Class A common stock, all outstanding shares of Class C common stock will convert automatically into Class A common stock, on a share-for-share basis, on the date or time specified by the holders of a majority of the outstanding shares of Class A common stock, voting as a separate class.

Share-Based Compensation

Share-Based Compensation	12 Months Ended
	Dec. 31, 2021
Share-based Payment Arrangement [Abstract]
Share-Based Compensation	Share-Based Compensation In August 2017, the Company’s Board of Directors adopted the 2017 Incentive Award Plan (as amended, the “2017 Plan”), which provides for the granting of qualified and nonqualified stock options, restricted stock awards, restricted stock units, dividend equivalents, stock appreciation rights and other share-based awards. The 2017 Plan was amended and restated prior to the Company’s IPO. The 2017 Plan reserves for issuance to eligible employees, directors and consultants a total of (i) 24,446,502 shares of common stock in addition to (ii) the number of shares that, as of the date the 2017 Plan was originally adopted, were available for issuance under the 2007 Plan (as described below), plus (iii) the number of shares subject to awards outstanding under the 2007 Plan as of the date the 2017 Plan was originally adopted, that on or after that date, are forfeited or otherwise terminate or expire for any reason without the issuance of shares to the holders of the awards; provided, that the maximum number of shares of Class A common stock that may be added to the number of shares reserved under the 2017 Plan under clauses (ii) and (iii) is 40,520,655 shares. The primary purpose of the 2017 Plan is to enhance the Company’s ability to attract, motivate, and retain the services of qualified employees, officers, and directors. Any stock options or stock appreciation rights granted under the Plan will have a term of not more than 10 years and the vesting of the awards are set at the discretion of the Board of Directors but is not expected to exceed four years for any grant. The Company’s 2007 Incentive Award Plan (the “2007 Plan”), which the Board of Directors had adopted in 2007, was terminated in connection with the adoption of the 2017 Plan. Any outstanding awards that had been granted under the 2007 Plan prior to its termination remain outstanding, subject to the terms of the 2007 Plan and awards agreements, until such awards vest and are exercised (as applicable) or until they terminate or expire by their terms. As of December 31, 2021, options to purchase a total of 1,113,362 shares of Class A common stock remained outstanding and subject to the terms of the 2007 Plan. The awards under the 2007 Plan have a term of not more than 10 years and the vesting of the awards was set at the discretion of the Board of Directors upon grant but is not expected to exceed four years for any grant. All awards are subject to forfeiture within 90 days if employment or other services terminate prior to the vesting of the awards. Grants are no longer permitted from the 2007 Plan. Stock Option Awards A summary of the status of the Company’s stock option plans for the years ended December 31, 2021 and 2020 is presented below (in thousands): Number of options Weighted average exercise price Weighted Average remaining contractual life (years) Aggregate intrinsic value Outstanding at December 31, 2019 16,655 $ 2.96 6.1 Granted 4,066 7.33 Exercised (232) 3.11 $ 1,805 Forfeited (4,073) 2.59 Outstanding at December 31, 2020 16,416 4.16 7.1 $ 71,934 Granted 2,847 18.55 Exercised (3,961) 3.15 $ 23,630 Forfeited (941) 11.67 Outstanding at December 31, 2021 14,361 $ 6.80 6.8 $ 181,359 Stock options vested and exercisable at December 31, 2021 9,115 $ 3.72 5.7 $ 143,150 Year Ended 2021 2020 Weighted average grant date fair value of stock options granted during the year $9.22 $2.22 A summary of the nonvested stock options for the years ended December 31, 2021 and 2020 are as follows (options in thousands): Number of Options Weighted average grant date fair value Nonvested at December 31, 2019 6,933 $ 0.90 Granted 4,066 2.22 Forfeited (898) 1.72 Vested (2,947) 0.88 Nonvested at December 31, 2020 7,154 1.64 Granted 2,847 9.22 Forfeited (799) 6.53 Vested (3,956) 4.02 Nonvested at December 31, 2021 5,246 $ 6.24 Fair Value Measurement Prior to the IPO, the fair value of the shares of common stock underlying the stock options and RSUs had historically been determined by the Company’s board of directors as there was no public market for the underlying common stock. The Company’s board of directors determined the fair value of the Company’s common stock by considering a number of objective and subjective factors including: contemporaneous third-party valuations of its common stock, the valuation of comparable companies, sales of the Company’s common and redeemable convertible preferred stock to outside investors in arms-length transactions (including the IPO), the Company’s operating and financial performance, the lack of marketability, and the general and industry specific economic outlook, amongst other factors. After the completion of the IPO, the fair value of the Company's Class A common stock is determined based on the New York Stock Exchange ("NYSE") closing price on the date of grant. The grant date fair value of stock options, restricted stock awards, and common stock warrants are estimated using the Black-Scholes-Merton option pricing model. The grant date fair value of the Company's RSUs is determined based on the fair value of the Company's common stock on the date of grant as noted above. The following provides information on the weighted-average assumptions used for stock options granted during the years ended December 31, 2021, 2020, and 2019 as follows (options in thousands): Year Ended 2021 2020 2019 Number of options granted 2,847 4,066 1,944 Volatility 43.0 % 40.5 % 39.0 % Expected term 6.25 years 6.25 years 6.25 years Dividend yield 1.1 % 2.4 % 3.1 % Risk-free interest rate 1.1 % 0.4 % 1.5 % Fair market value per share of common stock approved by the Company’s Board of Directors at the time of grant $ 21.19 $ 7.33 $ 5.39 Fair market value per option determined using a Black-Scholes-Merton Option pricing model for purposes of determining compensation expense $ 9.22 $ 2.22 $ 1.53 The assumptions above include those used in determining the fair value of the December 2020 and February 2021 stock option awards for which the Company recognized additional stock based compensation expense prior to the IPO which is further discussed below. As of December 31, 2021, the Company had $27.3 million of unrecognized compensation costs related to stock options, which is expected to be recognized over a weighted-average vesting period of approximately 2.04 years. Restricted Stock Awards Effective October 29, 2010, the Board of Directors granted a total of 4,995,000 restricted stock awards to the Company’s Chief Executive Officer and Chief Operating Officer with a stock price of $1.93 per share. The restricted stock awards vest and become nonforfeitable ratably over a four-year period assuming VIZIO made its first public offering of common stock pursuant to a registration statement filed with the Securities and Exchange Commission during this period. Under the terms of the grant, if a public offering did not occur within the four-year vesting period, the restricted stock awards would remain outstanding and unvested for an additional three-year period and all shares would vest contingent upon an initial public offering. If after seven years, VIZIO was not successful at completing an initial public offering, all of the restricted stock awards would forfeit. Effective April 25, 2017, the forfeiture date on these awards was extended to December 31, 2020. In estimating the fair value of the common stock at the grant date, the Company engaged an independent valuation specialist to assist in determining the stock price. On October 8, 2019, the Board of Directors granted a total of 234,000 restricted stock awards to members of senior management with a stock price of $5.39 per share. Under the terms of the grant, the vesting of the restricted stock awards was contingent upon an initial public offering, which occurred in March 2021. Since the vesting of the RSUs was contingent upon an initial public offering, VIZIO deferred the recognition of compensation expense for these awards until the first quarter of 2021. Restricted Stock Units On December 31, 2020, the Board of Directors granted a total of 2,034,972 RSUs to members of senior management with a stock price of $8.54 per share. The restricted stock units vest ratably over a one . RSU activity for the year ended December 31, 2021 was as follows (RSUs in thousands): Number of RSUs Weighted Average Grant Date Fair Value Outstanding at December 31, 2020 2,035 $ 8.54 Granted 7,776 20.65 Released (5,436) 17.58 Forfeited (309) 23.21 Outstanding at December 31, 2021 4,066 $ 20.45 The grant-date fair value of restricted stock units granted during the year ended December 31, 2021 and 2020 was $160.6 million and $26.9 million, respectively. The grant-date fair value of restricted stock units that vested during the year ended December 31, 2021 and 2020 was $126.8 million and $0.0 million, respectively. Total unrecognized compensation cost related to restricted stock units as of December 31, 2021 was $63.8 million which the Company expects to recognize over a weighted-average period of approximately 2.05 years. Employee Stock Purchase Plan On March 25, 2021, the Company established an employee stock purchase plan (the “2021 ESPP”) and reserved 1,800,000 shares of Class A common stock for issuance under this plan. The 2021 ESPP is intended to qualify as an “employee stock purchase plan” within the meaning of Section 423 of the Internal Revenue Code for U.S. employees. The number of shares of common stock available for issuance under the 2021 ESPP will be increased on the first day of each calendar year, beginning in 2022, in a number of shares of common stock equal to the least of (i) 5,400,000 shares of common stock, (ii) one percent (1%) of the outstanding shares of all classes of the Company’s common stock on the last day of the immediately preceding fiscal year, or (iii) an amount determined by the Company. Under the 2021 ESPP, employees are eligible to purchase the Company’s common stock through payroll deductions of up to 10% of their eligible compensation, subject to any plan limitations. Unless otherwise determined by the Company’s board of directors, the purchase price of the shares will be 85% of the lower of the fair market value of our common stock on the first trading day of each offering period or on the purchase date, subject to a limit of the lesser of (i) 1,000 shares of our common stock, or (ii) $12,500 div ided by the fair market value of our common stock as of the first day of the offering period. For the year ending December 31, 2021, the Company recognized approximately $0.6 million in stock based compensation expense related to the ESPP. As of December 31, 2021, 94,739 shares of the Company’s common stock have been issued under this plan. Share-based Compensation Expense For the December 2020 and February 2021 stock options grants, prior to the IPO and given the absence of a public trading market at the time of grant, the fair value of the Company’s common stock was determined by the Company’s board of directors and based on a third-party valuation which considered numerous objective and subjective factors to determine the fair value of the common stock at each grant date. These factors include, but are not limited to (a) the prices at which the Company sold its Class A common stock to outside investors in arms-length transactions, (b) an independent third-party valuation of the Company’s Class A common stock, (c) the Company’s results of operations, financial position, and capital resources, (d) industry outlook, (d) the likelihood of achieving a liquidity event, such as an initial public offering or a sale of the Company, given prevailing market conditions, (e) the history and nature of the Company’s business, industry trends and competitive environment; and (f) general economic outlook including economic growth, inflation and unemployment, interest rate environment, and global economic trends, including the impact of COVID-19. At the time of grant, the fair value of the Company’s common stock based on this valuation was $8.54 per share however, a fter consideration of the difference between $8.54, the per share fair value of the Company’s Class A common stock used to record share-based compensation for certain equity awards granted in December 2020 and February 2021, and $22.00, which was the midpoint of the price range set forth on the cover page of the Company’s preliminary prospectus related to the Company’s IPO, the Company used a linear interpolated fair value from $8.54 to $22.00 to measure additional share-based compensation expense for its option and RSU grants made in December 2020, February 2021 and March 2021. As a result, the Company recorded additional share-based compensation expense of approximately $58.2 million in the year ended December 31, 2021. The Company expects to recognize additional share-based compensation expense of approximately $8.4 million, $2.1 million and $1.7 million for the years ending 2022, 2023 and 2024, respectively, for the unvested portion of the December 2020 and February 2021 grants at December 31, 2021. Stock compensation expense for the years ended December 31, 2021, 2020 and 2019 of $134.4 million, $4.8 million, and $4.1 million, respectively, was recognized in the consolidated statements of operations. Of this amount approximately $2.9 million was allocated to cost of goods sold and research and development expense, with the majority recognized as selling, general and administrative expense. Treasury stock In connection with the vesting of share-based payment awards for certain employees, the Company agreed to withhold shares of common stock from these employees to cover the cost of the income tax withholdings due upon release of the awards. The total common stock withheld during the year ended December 31, 2021 was 3,231,682 shares for approximately $71.0 million and is recorded as treasury stock as a reduction to Additional paid-in capital in the consolidated balance sheet. The value of the treasury stock was measured based on closing market price of the common stock on the vest date. The treasury shares were not cancelled and are still considered issued as of December 31, 2021.

Net (Loss) Income Per Share

Net (Loss) Income Per Share	12 Months Ended
	Dec. 31, 2021
Earnings Per Share [Abstract]
Net (Loss) Income Per Share	Net (Loss) Income Per Share The Basic and diluted earnings (loss) per common share is presented in conformity with the two-class method required for participating securities and multiple classes of shares. Through 2021, the Company considered the preferred shares and unvested options granted under the 2017 Incentive Plan to be participating securities. For each period presented, cumulative preferred dividends earned on preferred stock are subtracted from net income (loss) in calculating the net income (loss) attributable to common stockholders. For any period in which the Company records net income, undistributed earnings allocated to the participating securities are subtracted from net income in determining net income attributable to common stockholders. The undistributed earnings have been allocated based on the participation rights of preferred shares, common shares, and unvested stock options under the 2017 Incentive Plan as if the earnings for the year have been distributed. For periods in which the Company recognizes a net loss, undistributed losses are allocated only to common shares as the participating securities do not contractually participate in the Company’s losses. Basic earnings (loss) per share is computed by dividing the net income (loss) attributable to common stockholders by the weighted-average number of common shares outstanding during the period. Participating securities are excluded from basic weighted-average common shares outstanding. Diluted earnings (loss) per share represents net income (loss) divided by the weighted-average number of common shares outstanding, inclusive of the effect of potential common shares, if dilutive. For the year ended December 31, 2021, the potential dilutive shares were not included in the computation of diluted earnings (loss) per common share as the effect of including these units in the calculation would have been anti-dilutive. For the years ended December 31, 2020 and 2019, the potential dilutive shares relating to outstanding stock options were included in the computation of diluted earnings. Basic and diluted earnings (loss) per share and the weighted-average shares outstanding have been computed for all periods as shown below: Year Ended December 31, 2021 2020 2019 Numerator Class A Class B Net (loss) income $ (24.2) $ (15.1) $ 102.5 $ 23.1 Less: Undistributed accumulated dividends on preferred shares — — (0.1) (0.1) Undistributed earnings (24.2) (15.1) 102.4 23.0 Less: Undistributed earnings attributable to participating securities — — (22.2) (5.0) Net (loss) income attributable to common shareholders $ (24.2) $ (15.1) $ 80.2 $ 18.0 Denominator (in thousands) Weighted-average common shares 108,111 67,391 144,381 144,127 Weighted-average effect of dilutive securities Employee stock options — — 2,631 2,936 Weighted average common shares outstanding-diluted 108,111 67,391 147,012 147,063 Basic net (loss) income per share attributable to common stockholders $ (0.22) $ (0.22) $ 0.56 $ 0.12 Diluted net (loss) income per share attributable to common stockholders $ (0.22) $ (0.22) $ 0.55 $ 0.12 Anti-dilutive equity awards under share-based award plans excluded from the determination of diluted EPS 17,071 5,067 3,652

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The components of Provision for income taxes consist of the following: Year Ended 2021 2020 2019 Current: Federal $ 14.7 $ 23.7 $ 8.3 State 1.5 4.3 0.6 Foreign 0.6 — (0.6) Total current income tax expense (benefit) 16.8 28.0 8.3 Deferred: Federal (2.2) 1.9 (0.6) State (1.5) — — Foreign — — — Total deferred income tax expense (benefit) (3.7) 1.9 (0.6) Total $ 13.1 $ 29.9 $ 7.7 The tax effects of temporary differences that give rise to significant portions of deferred tax assets (liabilities) are as follows: As of December 31, December 31, Deferred tax assets: Accrued license payments $ 5.9 $ 7.7 Stock compensation 3.1 2.2 Accrued rebates 10.7 6.6 Accrued Legal Fees 1.9 3.1 Accrued Recycling Fees 2.9 2.3 Accrued Other 1.5 1.8 Leases 2.1 2.0 NOL carryforwards 2.2 2.4 Depreciation and amortization — — Other 4.6 2.4 34.9 30.5 Less valuation allowance (2.0) (2.2) Deferred tax assets $ 32.9 $ 28.3 Deferred tax liabilities: Federal impact of state taxes $ (0.6) $ (0.5) Depreciation and amortization (1.9) (1.1) Deferred tax liabilities (2.5) (1.6) Net deferred tax assets $ 30.4 $ 26.7 As of December 31, 2021, the Company has gross federal and state net operating loss carryforwards of $3.6 million and $10.4 million, respectively, which, if unused, will expire in years 2027 through 2037. A portion of the net operating losses are subject to annual limitations as a result of past acquisitions, which constitutes a change of ownership as defined under Internal Revenue Code Section 382. The Company believes that it is more likely than not that VIZIO will generate earnings in the future and will be able to realize the benefit of the net operating losses. As of December 31, 2021 the Company has California net operating loss of $0.9 million and Federal and California tax credit carryforwards of $1.5 million generated from the pre-acquisition years and has provided a valuation allowance of $1.0 million of those California carryforwards since its entity’s relative apportionment percentage is effectively zero due to intercompany sales elimination for the combined group filing. The state tax credit has no expiration date. The change to the valuation allowance was primarily due to an expired capital loss carryover, adjustment of the deferred tax assets related to foreign net operating losses, and the change in the state effective tax rates. VIZIO has maintained a valuation allowance of $1.3 million on the deferred tax assets related to state and foreign net operating losses and research and development credit carryforwards. The income tax provision differs from the amount obtained by applying the statutory tax rate as follows (in millions): As of 2021 2020 2019 Income tax provision at statutory rate $ (5.5) $ 27.8 $ 6.5 State income taxes (net of federal benefit) 2.5 4.8 1.0 Permanent tax differences 17.8 (0.1) 0.6 Tax differential on foreign earnings 0.1 (0.4) 0.1 Effect of U.S. tax law change — — (0.1) Tax credits (6.9) (2.7) (0.5) Tax contingencies 4.6 1.0 0.5 Prior year adjustments 0.3 (0.2) (0.3) Other 0.2 (0.3) (0.1) Total provision for income taxes $ 13.1 $ 29.9 $ 7.7 As of December 31, 2021, VIZIO has $7.7 million in liabilities for unrecognized tax benefits inclusive of penalties. A reconciliation of the beginning and ending amount of unrecognized tax benefits, exclusive of penalties, is as follow (in millions): As of 2021 2020 Unrecognized tax benefit at January 1 $ 2.9 $ 1.9 Gross increases – tax position in prior period 4.1 1.0 Settlement — — Unrecognized tax benefit at December 31 $ 7.0 $ 2.9 As of December 31, 2021 and 2020, unrecognized tax benefits of $6.8 million and $2.6 million, respectively, would affect the effective tax rate if recognized. The total amount of interest and penalties related to unrecognized tax benefits in the consolidated statements of operations is $0.1 million, $0.6 million and $0.2 million for the years ended December 31, 2021, 2020 and 2019, respectively. The total amount of interest and penalties related to unrecognized tax benefits in the consolidated balance sheets is $1.3 million and $1.2 million as of December 31, 2021 and 2020, respectively. The Company recorded a provision for income taxes of $13.1 million resulting in an effective tax rate of (50)%. The effective tax rate differs from the statutory tax rate of 21% primarily due to the approximately $18.3 million for share-based compensation expense, tax excess benefits, and the compensation deduction limitation on certain executive officers as a publicly held corporation included in permanent book-to-tax difference. The Company files income tax returns in the U.S. federal, state and foreign jurisdictions. For federal tax purposes, there is a 3-year statute of limitations and the Company is no longer subject to U.S. federal tax examinations for years prior to 2015. During 2019, the Internal Revenue Service commenced an income tax audit for 2015, 2016, and 2017 which is on-going. Management believes that an adequate provision has been made for any adjustments that may result from tax examinations. If any issues addressed in the Company’s tax audits are resolved in a manner not consistent with management’s expectations, the Company could be required to adjust its provision for income taxes in the period such resolution occurs. Although timing of the resolution and/or closure of the audit is not certain, the Company does not believe it is reasonably possible that its unrecognized tax benefits would materially change in the next 12 months. In general, the Company is no longer subject to state tax examinations for years prior to 2015. The Company also files income tax returns in various foreign jurisdictions. The following tax years remain subject to examinations: Major jurisdiction Open years China 2018-2020 Mexico 2016-2020

Defined Contribution Retirement

Defined Contribution Retirement Plan	12 Months Ended
	Dec. 31, 2021
Retirement Benefits [Abstract]
Defined Contribution Retirement Plan	Defined Contribution Retirement PlanVIZIO maintains a 401(k) defined contribution plan allowing eligible U.S.-based employees to contribute up to an annual maximum amount as set periodically by the Internal Revenue Service. The Company provides for solely discretionary matching contributions on the employee deferred amounts. In December 2021, 2020 and 2019, the Company approved discretionary matching contributions of $1.8 million, $0.9 million and $0.5 million respectively, which were funded in February 2022, 2021 and 2020, respectively.

Accrued Royalties

Accrued Royalties	12 Months Ended
	Dec. 31, 2021
Payables and Accruals [Abstract]
Accrued Royalties	Accrued Royalties VIZIO is engaged in, and in certain cases has settled, various claims and suits alleging the infringement of patents related to certain television technology that were initiated by television manufacturers and other nonmanufacturers. In connection with the disposition of some of these claims and suits, the Company has entered into, or may enter into, license arrangements, which may include royalty payments to be made for historical and/or prospective sales of the Company’s products. Certain of these settlements have included cross-licenses, covenants not to sue, and litigation holds. To the extent that VIZIO is indemnified under its product supply agreements with its manufacturers, the Company has offset intellectual property expenses and recorded amounts as other receivable balances included in other current assets. Historically, VIZIO has been contractually indemnified and reimbursed by its manufacturers for most intellectual property royalty obligations and commitments. The Company will make future payments for the licensed technologies with funding received from the manufacturers, either through direct reimbursement from the manufacturers or payment of the net purchase price, as these royalty payments become due. In certain circumstances, VIZIO has the contractual ability to renegotiate the annual license fee in future years if certain unit sales volumes are not met in a given year. A summary of future commitments on royalty obligations as of December 31, 2021 is as follows: 2022 $ 10.9 2023 6.8 2024 5.2 2025 3.0 2026 and thereafter 0.5 Total $ 26.3 For potential future settlements related to historical sales for which the Company does not expect to be reimbursed, a reserve of $32.5 million and $49.6 million has been recorded as of December 31, 2021 and 2020, respectively, as part of accrued royalties. Any patent infringement lawsuit in which VIZIO is not indemnified is expensed when management determines that it is probable that a liability has been incurred and the amount is estimable. In certain instances, the Company administers refundable deposits on behalf of its manufacturers for asserted intellectual property infringement claims and related active litigation in accordance with the terms of the supply agreements. The use of the refundable deposits is limited to the resolution or settlement of these claims and active cases. Management reviews the nature of these claims and active cases with the manufacturers on a periodic basis. The deposit amounts received and recorded are determined and adjusted quarterly based on mutual consent of both parties and using all available information at that time. In the event of an unfavorable resolution or settlement that exceeds the amount recorded as a refundable deposit, the excess shall be paid by VIZIO and then reimbursed by the

Other Income, Net

Other Income, Net	12 Months Ended
	Dec. 31, 2021
Other Income and Expenses [Abstract]
Other Income, Net	Other Income, NetOn December 15, 2021, VIZIO entered into a Confidential Release and Settlement Agreement with a former insurance provider to settle a dispute regarding an insurance claim made in connection with the 2015 Cognitive Media Networks litigation. Under the Settlement Agreement, the Company agreed to abandon all past, present and future claims relating to the matter in return for $3.5 million in gross proceeds. The Company received the payment in 2021 and recognized net proceeds of $2.9 million as other income, net in the consolidated statement of operations.

Leases

Leases	12 Months Ended
	Dec. 31, 2021
Leases [Abstract]
Leases	Leases The Company has various non-cancelable operating leases for its corporate and satellite offices primarily in the United States. These leases expire at various times through 2026. The table below presents supplemental balance sheet information related to the Company’s operating leases as follows (in millions, except lease term and discount rate): As of Classification 2021 2020 Assets: Right of use assets Other assets $ 8.9 $ 8.0 Liabilities: Lease liabilities-current Other current liabilities $ 2.4 $ 2.9 Lease liabilities-noncurrent Other long-term liabilities $ 6.5 $ 5.1 Weighted Average Remaining Lease term 4.2 years 3.7 years Weighted Average Discount Rate 3.70 % 3.40 % The following operating lease costs were included in the Company’s consolidated statements of operations (in millions): Year Ended 2021 2020 2019 Operating lease costs $ 4.1 $ 2.8 $ 3.0 The table below reconciles the undiscounted cash flows of the operating leases to the operating lease liabilities recorded on the consolidated balance sheet as of December 31, 2021. 2022 $ 2.6 2023 2.1 2024 1.7 2025 1.5 2026 and thereafter 1.9 Total minimum lease payments 9.8 Less imputed interest (0.9) Total lease liabilities $ 8.9 The future lease payments above exclude future minimum sublease income due under noncancelable subleases as of December 31, 2021 which are not material. VIZIO has a 13% ownership interest in Spyglass Tesla LLC (Spyglass), a corporation that owns and manages the building in which VIZIO maintains its corporate headquarters in Irvine, California. Spyglass is principally owned by two related parties, and VIZIO does not have significant influence over the operations and governance of Spyglass. As such, the Company accounts for the $0.5 million investment in the members’ equity of Spyglass as an investment in equity securities without a readily determinable fair value, which is included in other assets in the consolidated balance sheets as of December 31, 2021 and 2020. Additionally, VIZIO executed a noncancelable operating lease with Spyglass, which will expire in January 2027 and extends the lease term to 2027. Net rent expense under this operating lease was approximately $0.7 million, $1.0 million and $0.9 million for the years ended December 31, 2021, 2020 and 2019, respectively.

Commitment and Contingencies

Commitment and Contingencies	12 Months Ended
	Dec. 31, 2021
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies (a) Volume Commitments Certain product supply agreements include a volume supply commitment on up to 13 weeks of inventory forecasted by the Company. Management provides periodic forecasts to manufacturers at which time they consider the first 13 weeks of supply to be committed. As of December 31, 2021, no liabilities were recorded related to this supply commitment. (b) Revolving Credit Facility On April 13, 2016, VIZIO entered into a credit agreement with Bank of America, N.A. Under the credit agreement, Bank of America, N.A. agreed to provide VIZIO with a revolving credit line of up to $50.0 million with a maturity date of April 13, 2021, for the purposes of repurchasing certain outstanding shares of common stock held by a related party supplier and other general business requirements, including working capital. The Company’s indebtedness to Bank of America, N.A. under the credit agreement is collateralized by substantially all of the Company’s assets. Any indebtedness under this credit agreement bears interest at a variable rate based either on LIBOR, the federal funds rate, or the prime rate. The credit agreement contains affirmative and negative covenants which, among other things, requires the Company to deliver to Bank of America, N.A. specified annual and monthly financial information. On April 13, 2021, the Company entered into a Second Amendment to the Loan and Security Agreement (“Second Amendment”) with Bank of America N.A., to include among other things, (i) an update to provide for use of a LIBOR successor rate, (ii) to amend the definition of Availability Reserve and Borrowing Base, and (iii) an extension of the termination date to April 13, 2024. In connection with the Second Amendment, the Company paid a fee of $75,000 in the second quarter of 2021. Unused fees related to this line of credit were not material in any of the years presented. The Company is in compliance with all required financial covenants as of December 31, 2021. (c) Legal Matters Advanced Micro Devices, Inc. (AMD) presented the Company with a claim letter dated May 11, 2015 in which AMD claimed the Company is infringing its patents that cover graphics processing and semiconductor technologies. On January 23 and 24, 2017, respectively, AMD filed complaints in the U.S. District Court for the District of Delaware and the International Trade Center (ITC) alleging infringement of AMD’s U.S. patents. On August 22, 2018, the ITC ruled against VIZIO and recommended limited exclusion and cease and desist orders. On August 30, 2018, the parties entered into a settlement agreement including payments of $39.0 million in total, and the cases were subsequently dismissed. Of the $39.0 million settlement outlined in the agreement, $15.0 million was negotiated to apply to the release for units shipped prior to the effective date of the agreement which is indemnified by VIZIO’s suppliers. This is reflected in the first three payments due to AMD under the license, which were paid by the end of 2018. Payments beginning with the fourth payment are scheduled on an annual basis in May of each subsequent calendar year for payment of ongoing license from September 2018 and included in accrued royalties in note 16 to these consolidated financial statements. In connection with the IPO, approximately $14.0 million in payments were accelerated and paid during second quarter of 2021. In November 2020, the Company entered into a settlement agreement with AmTRAN Technology Co., Ltd., or AmTRAN and one of its subsidiaries. AmTRAN is a beneficial holder of more than 5% of the Company’s Series A convertible preferred stock. Pursuant to the settlement agreement, the Company agreed, among other things, to pay AmTRAN approximately $8.2 million. In return, on November 23, 2020 AmTRAN terminated its security agreement. AmTRAN further agreed to pay outstanding fees owed by it for IP licenses related to the manufacturing of the Company’s devices. The parties further agreed that VIZIO would continue to retain a reserve of approximately $4.0 million for payment of, future claims attributable to devices manufactured by AmTRAN. On December 31, 2022 VIZIO will release to AmTRAN the lesser of (i) 50% of the remaining balance of the reserve or (ii) approximately $2.0 million, with a like amount to be retained by the Company. On August 20, 2021, Maxell, Ltd. and Maxell Holdings, Ltd. (collectively, “Maxell”) filed a complaint in United States District Court for the Central District of California against the Company alleging the Company's TVs infringe several of their patents related to various television-related technologies. See Maxell, Ltd., et al. v. VIZIO, Inc., Case No. 2:21-cv-6758 (C.D. Cal.). This case is in the pleadings stage. The Company disputes the claims and intends to defend the lawsuit vigorously.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2021
Accounting Policies [Abstract]
Basis of Consolidation	Basis of Consolidation The consolidated financial statements include the accounts of VIZIO and all subsidiaries. All intercompany transactions and balances have been eliminated in consolidation.
Foreign Currency	The functional currency of most of the foreign subsidiaries is the U.S. dollar. The accounts of these remaining foreign subsidiaries have been translated using the U.S. dollar as the functional currency. Gains or losses resulting from remeasurement of these accounts from local currencies into U.S. dollars were immaterial to the consolidated financial statements. Financial statements of the Company’s foreign subsidiaries for which the functional currency is the local currency are translated into U.S. dollars using the exchange rate at each balance sheet date for assets and liabilities and the transaction date exchange rate for statements of operations items. Currency translation adjustments are recorded in accumulated other comprehensive income, a component of stockholders’ equity.
Reclassifications	Reclassifications The Company has reclassified certain amounts relating to its prior period results. In 2021, the Company reclassified research and development costs from Selling, general and administrative. Prior year amounts have been reclassified to conform to the current year presentation.
Use of Estimates	Use of Estimates The preparation of consolidated financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect certain amounts reported in the consolidated financial statements and accompanying notes. Actual results may differ from those estimates and assumptions. Significant items subject to such estimates and assumptions include the allowances for doubtful accounts and sales returns, reserves for excess and obsolete inventory, accrued price protection and rebates, accrued royalties, share-based compensation, intellectual property and related intangible assets, valuation of deferred tax assets and other contingencies. Supplier and customer concentrations also increase the degree of uncertainty inherent in these estimates and assumptions.
Cash and Cash Equivalents	Cash and Cash EquivalentsAll highly liquid financial instruments with a remaining maturity of 90 days or less when purchased are presented as cash equivalents.
Accounts Receivable and Allowance for Doubtful Accounts	Accounts Receivable and Allowance for Doubtful AccountsAccounts receivable consist of amounts due to VIZIO from sales arrangements executed under normal business activities and are recorded at invoiced amounts which is the amount VIZIO expects to be entitled to receive. The Company presents the aggregate accounts receivable balance net of an allowance for doubtful accounts and extends credit to its customers and mitigates a portion of the Company’s credit risk through credit insurance. Generally, collateral or other security is not required for outstanding accounts receivable. Credit losses, if any, are recognized based on management’s evaluation of the aging of accounts receivable, assessment of collectibility, retailer-specific financial conditions as well as an evaluation of current industry trends and general economic conditions. Past-due balances are assessed by management on a monthly basis and balances are written off when the customer’s financial condition no longer warrants pursuit of collections. Although VIZIO expects to collect amounts due, actual collections may differ from estimated amounts.
Concentrations of Credit Risk	Concentrations of Credit RiskFinancial instruments that potentially create significant concentrations of credit risk consist principally of accounts receivable and cash in banks. The Company maintains its cash balances at various financial institutions. At times, such balances may exceed federally insured limits. No losses have been experienced in any such accounts.
Inventories	InventoriesInventories are stated at the lower of cost, using the first-in, first-out method, or net realizable value. Inventories are reviewed for excess and obsolescence based upon demand forecasts for a specific time horizon. The Company records a charge to cost of sales for the amount required to reduce the carrying value of inventory to net realizable value. For inventories related to certain manufacturers, VIZIO may be contractually required to purchase this inventory if the product is (i) requested by VIZIO, (ii) received at the manufacturers’ warehouse on an agreed-upon receipt date, and (iii) remains unsold after a predetermined period, which generally exceeds 30 to 45 days.
Property and Equipment	Property and EquipmentProperty and equipment are recorded at historical cost, less accumulated depreciation and impairment, if applicable. Depreciation is computed using the straight-line method based upon the following estimated useful lives: Years Buildings 39 Machinery and equipment 5 Furniture and fixtures 7 Computer and software 3 Automobiles 5
Capitalized Software Development Costs	Capitalized Software Development Costs The Company capitalizes certain costs associated with creating and enhancing internally developed software related to the Company’s technology infrastructure and records these amounts within property and equipment, net. These costs include personnel and related employee benefit expenses for employees who are directly associated with and who devote time to software development projects and contractor costs. Software development costs that do not qualify for capitalization are expensed as incurred and recorded as selling, general and administrative or research and development expenses in the consolidated statements of operations.
Goodwill	Goodwill Goodwill represents the excess of the purchase price over the fair value of the net tangible and intangible assets acquired in a business combination. Goodwill is not amortized but is tested at least annually for impairment as of the first day of the fourth fiscal quarter, or more frequently if indicators of impairment exist during the fiscal year. Events or circumstances which could trigger an impairment review include a significant adverse change in legal factors or in the business climate, loss of key customers, an adverse action or assessment by a regulator, unanticipated competition, a loss of key personnel, significant changes in the manner of the Company’s use of the acquired assets or the strategy for its overall business, significant negative industry or economic trends, or significant underperformance relative to expected historical or projected future results of operations. The Company assessed the conclusion regarding segments and reporting units in conjunction with its annual goodwill impairment test, which is performed on December 31, and has determined that it has one reporting unit for the purposes of allocating and testing goodwill. All of the Company’s goodwill is attributable to the Platform+ reporting unit. When testing goodwill for impairment, the Company first performs a qualitative assessment. If the Company determines it is more likely than not that a reporting unit’s fair value is less than the carrying amount, then a one-step impairment test is required. If the Company determines it is not more likely than not a reporting unit’s fair value is less than the carrying amount, then no further analysis is necessary. To identify whether impairment exists, the Company compares the estimated fair value of the reporting unit with the carrying amount, including goodwill. If
Leases	LeasesUnder ASC 842, the Company determines whether an arrangement is a lease at contract inception. Operating leases right-of-use assets are included in other current assets and other assets, and lease liabilities are included in other current liabilities and other long-term liabilities in the Company’s consolidated balance sheets. Operating lease charges are recorded in selling, general and administrative expenses in the consolidated statements of operations. Operating lease right-of-use assets and operating lease liabilities are recognized based on the present value of the future lease payments over the lease term at the commencement date. The Company does not separate lease and non-lease components for all underlying asset classes. As most of the Company’s leases do not provide a readily determinable implicit rate, it estimates the incremental borrowing rate, using the formula for the interest rate on the Company’s collateralized borrowing at the point in time of lease start or the adoption date (whichever is later), to discount the lease payments based on information available at lease commencement. The Company determines the incremental borrowing rate for each lease based primarily on the lease term and the economic environment of the applicable country or region. The operating lease right-of-use asset also includes any prepaid lease payments and is reduced by existing lease incentive balances upon adoption. The Company does not include the cost of lease extensions in the right-of-use asset until it is reasonably certain such an option will be executed, and the cost can be determined. The Company recognizes lease expense for lease payments over the lease term, while variable lease payments, such as common area maintenance, are recognized as incurred. The Company elected the practical expedient to not recognize operating lease right-of-use assets and operating lease liabilities that arise from short-term leases (i.e., leases with a term of 12 months or less).
Revenue Recognition and Customer Allowances	Revenue Recognition The Company derives revenue primarily from the sale of televisions and sound bars, advertising and data services. Revenue is recognized when control of the promised goods or services is transferred to the Company’s retailers, in an amount that reflects the consideration to which it expects to be entitled in exchange for those goods or services. The Company applies a five-step approach as defined in Financial Accounting Standards Board (“FASB”) ASC 606, Revenue from Contracts with Customers (Topic 606), in determining the amount and timing of revenue to be recognized: (1) identifying the contract with a customer; (2) identifying the performance obligations in the contract; (3) determining the transaction price; (4) allocating the transaction price to the performance obligations in the contract; and (5) recognizing revenue when the corresponding performance obligation is satisfied. The Company sells products to certain retailers under terms that allow them to receive price protection on future price reductions and may provide for limited rights of return, discounts and advertising credits. Device Revenue Each distinct promise to transfer products is considered to be an identified performance obligation for which revenue is recognized at a point in time upon transfer of control of the products to the retailer. Transfer of control occurs upon shipment or delivery to the retailer. Point in time recognition is determined as products to be sold represent an asset with an alternative use. Warranty returns have not been material, and warranty-related services are not considered a separate performance obligation. Pricing adjustments and estimates of returns are treated as variable consideration for purposes of determining the transaction price. Sales returns are generally accepted at the Company’s discretion. Variable consideration is estimated using the most likely amount considering all reasonably available information, including the Company’s historical experience and current expectations, and is reflected in the transaction price when sales are recorded. Revenue recorded excludes taxes collected on sales to retailers. Accounts receivable represents the unconditional right to receive consideration from retailers. Substantially all payments are collected within the Company’s standard terms, which do not include a significant financing component. There have been no material impairment losses on accounts receivable in any of the periods presented. There have been no material contract assets or contract liabilities recorded on the consolidated balance sheet in any of the periods presented. All of the Company’s products are directly shipped by vessel from manufacturers to third-party logistics and distribution centers in the United States. Generally, the Company ships the product to its retailers with freight carriers contracted by the Company. Shipping terms on sales of products are generally FOB destination but may vary depending upon the related contractual arrangement with the retailers. Amounts billed to retailers for shipping and handling costs are included in net revenue. Platform+ Revenue The Company generates Platform+ revenue through sales of advertising and related services, content distribution, subscription and transaction revenue shares, promotions, sales of branded channel buttons on remote controls and data licensing arrangements. The Company’s digital ad inventory consists of inventory on WatchFree+ and its home screen along with ad inventory it obtains through its content provider and other third-party application agreements. The Company also re-sells video inventory that it purchases from content publishers and directly sells third-party inventory on a revenue share or cost-per-thousand (“CPM”) basis. Revenue for advertising and related services is primarily generated by the sale of video and display advertising. Advertising is sold directly on a CPM basis and is evidenced by an Insertion Order, (“IO”). The Company recognizes revenue as the number of impressions is measured and delivered, up to the amount identified in the IO. An IO may include multiple performance obligations to the extent it contains distinct advertising products or services. Advertising inventory may also be sold programmatically by which net revenues generated by the Company’s supply-side platforms are recognized. The Company recognizes revenue for advertising and related services on either a gross or net basis based on its determination as to whether it is acting as the principal in the revenue generation process or as an agent. Subscription and transaction revenue is generated through revenue share agreements with content providers. These revenue share agreements generally apply to new subscriptions for accounts that sign up for new services or to purchases or rentals through the Company’s SmartCast operating system. The Company recognizes revenue on a net basis as it is deemed to be the agent between content publishers and consumers. The Company sells content publishers placements of buttons on its remote controls that provide one-touch access to a third-party applications’ content. The Company typically receives a fixed fee per button for each Device or individually packaged remote unit sold over a defined distribution period. The Company’s only performance obligations for these arrangements are placement of the app button on the remote and delivery of the TV and remote to the retailer. Revenue is recognized at the point in time which transfer of title to the retailer occurs. For revenue from data licensing agreements with customers, each promise to transfer an individual data license in the contract also is separately identifiable; the individual data licenses do not, together, constitute a single overall promise to the customer. Each distinct license of data has substantial standalone functionality at the point in time they are transferred to the customer because the data can be utilized and processed in accordance with the rights provided in the contract without any further participation by the Company. Therefore, each distinct data license is a right to use the Company’s functional intellectual property. Control of each distinct data license transfers when it is uploaded or delivered to the customer. Data is delivered at least on a monthly basis during the data delivery phase of the contract. The transaction price for data services revenue includes both fixed and variable consideration. The fixed consideration within the customer contract is allocated to each performance obligation as the performance obligations are satisfied. The performance obligations are satisfied over time during the data delivery period. Revenue for the fixed consideration is recognized ratably beginning upon the first delivery of data throughout the remainder of the contract. Variable consideration is recorded when it is earned in accordance with the sales or usage-based royalty exception. The revenue recognized from the contract liabilities consisted of the Company satisfying performance obligations during the normal course of business. The Company did not identify nor record material contract assets as of December 31, 2021 and 2020. Additionally, no costs associated with obtaining contracts with customers were
Shipping and Handling Costs	Shipping and Handling CostsAll shipping and handling costs related to purchases of inventory are included in the purchase price of each product negotiated with the manufacturer and recorded in inventory and classified in cost of goods sold. All shipping and handling costs charged to customers are treated as fulfillment costs and are presented within cost of goods sold.
Recycling Costs	Recycling CostsThe Company incurs recycling costs in order to comply with electronic waste recycling programs within certain states. These fees are assessed by the states using current market share and actual costs incurred on administration of such programs and are expensed as incurred. Recycling costs were $7.9 million, $9.3 million, and $10.7 million for the years ended December 31, 2021, 2020 and 2019, respectively, and are recorded in cost of goods sold in the accompanying consolidated statements of operations.
Selling, general and administrative	Selling, general and administrativeSelling, general and administrative expenses consist primarily of personnel related costs for employees, including salaries, bonuses, benefits, and share-based compensation, as well as consulting expenses, fees for professional services, facilities and information technology.
Research and Development Costs	Research and Development CostsResearch and development expense consists primarily of employee-related costs, including salaries and bonuses, share-based compensation expense, and employee benefits costs, third-party contractor costs, and related allocated overhead costs. In certain cases, costs are incurred to purchase materials and equipment for future use in research and development efforts. These costs are capitalized and expensed as consumed.
Marketing Costs	Marketing CostsMarketing expenses consist primarily of advertising and marketing promotions of the Company’s brand and products, including media advertisement costs, merchandising and display costs, trade show and event costs, and sponsorship costs.
Product Warranty	Product WarrantyAll products have a one
Income Taxes	Income TaxesIncome taxes are accounted for using the asset and liability method. Under this method, deferred income tax assets and liabilities are recognized for future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases and operating loss and tax credit carryforwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. The Company recognizes the effect of income tax positions only if those positions are more likely than not of being sustained upon examination. Changes in recognition or measurement are reflected in the period in which the change in judgment occurs. Valuation allowances are recorded against tax assets when it is determined that it is more likely than not that the assets will not be realized. Interest related to income taxes is recorded in other income, net and penalties are recorded in selling, general and administrative expense. The Company makes estimates, assumptions and judgments to determine its provision for income taxes and also for deferred tax assets and liabilities and any valuation allowances recorded against deferred tax assets. Actual future operating results and the underlying amount and type of income could differ materially from the Company’s estimates, assumptions and judgments thereby impacting its consolidated financial position and results of operations.
Net Income (Loss) Per Share	Net Income (Loss) Per ShareThe Company computes earnings per share (“EPS”) of Class A and Class B common stock using the two-class method for participating securities.Basic (loss) earnings per share attributable to common stockholders is calculated by dividing net (loss) income attributable to common stockholders by the weighted-average number of Class A and Class B common shares outstanding. Diluted (loss) earnings per share attributable to common stockholders adjusts the basic (loss) earnings per share attributable to common stockholders and the weighted-average number of common shares outstanding for the potentially dilutive impact of RSUs and stock options using the treasury stock method.
Share-Based Compensation	Share-Based Compensation Share-based compensation expense resulting from grants of employee stock options, restricted stock awards, restricted stock units (“RSUs”) and common stock warrants is recognized in the consolidated financial statements based on the respective grant date fair values of the awards. Stock option and warrant grant date fair values are estimated using the Black-Scholes-Merton option pricing model. The grant date fair value of the Company's RSUs is determined based on the fair value of the Company's common stock on the date of grant. The benefits of tax deductions in excess of recognized compensation cost are reported as an operating cash flow. Forfeitures are accounted for as they occur. Under the Black-Scholes-Merton model, the determination of the grant date fair value of share-based awards is affected by the estimated fair value per share of our common stock as well as other subjective assumptions, including, but not limited to, the expected term of the share-based awards, expected stock price volatility, risk-free interest rates, and expected dividend yields, which are estimated as follows: • Fair value per share of the Company’s common stock . Prior to the IPO in 2021, the Company was privately held with no active public market for its common stock. Given the absence of an active market for the Company’s common stock, the board of directors approves the fair value of the common stock at the time of grant for each share-based award based upon several factors, including consideration of input from management and contemporaneous third-party valuations. Each fair value estimate was based on a variety of factors, including the forecasted financial performance, prices, rights, preferences and privileges of the Company’s preferred stock relative to those of its common stock, pricing and timing of transactions in the Company’s equity, the lack of marketability of the common stock, actual operating and financial performance, developments and milestones in the Company, the market performance of comparable publicly traded companies, the likelihood of achieving a liquidity event, and U.S. and global capital market conditions, among other factors. After the IPO, the fair value of the Company’s common stock is based on the closing market price on the date of grant. • Expected term . The Company determines the expected term of the awards using the simplified method due to the Company’s insufficient history of option exercise and forfeiture activity. The simplified method estimates the expected term based on the average of the vesting period and contractual term of the stock option. • Expected volatility. The Company estimates the expected volatility based on the volatility of similar publicly held entities (referred to as “guideline companies”) over a period equivalent to the expected term of the awards. In evaluating the similarity of guideline companies, the Company considered factors such as industry, stage of life cycle, size, and financial leverage. • Risk-free interest rate . The risk-free interest rate is based on the implied yield currently available on U.S. Treasury issues with terms approximately equal to the expected life of the option. • Estimated dividend yield . The expected dividend based on the Company’s historical dividend activity is zero.
Subsequent Events	Subsequent EventsIn connection with the preparation of these consolidated financial statements, the Company evaluated any subsequent events after the balance sheet date of December 31, 2021 and through March 10, 2022, the date that the financial statements were available to be issued.
Recently Issued Accounting Pronouncements	Recently Issued Accounting PronouncementsIn December 2019, the FASB issued guidance, ASU No. 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes, to reduce complexity in accounting standard. The guidance simplifies the accounting for income taxes by removing certain exceptions to the general principles in Accounting Standards Codification Topic 740 ("ASC 740") as well as by improving consistent application of the topic by clarifying and amending existing guidance. This standard was effective for the Company for the year ended December 31, 2021. The adoption of this standard did not result in a material impact to the Company’s consolidated financial statements.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2021
Accounting Policies [Abstract]
Schedule of Property and Equipment	Depreciation is computed using the straight-line method based upon the following estimated useful lives: Years Buildings 39 Machinery and equipment 5 Furniture and fixtures 7 Computer and software 3 Automobiles 5 Property and equipment consist of the following (in millions): As of 2021 2020 Building $ 10.1 $ 10.0 Machinery and equipment 1.6 1.3 Leasehold improvements 3.6 3.4 Furniture and fixtures 3.2 2.8 Computer and software 22.7 19.2 Total property and equipment 41.2 36.7 Less accumulated depreciation and amortization (30.9) (28.8) Total property and equipment, net $ 10.3 $ 7.9

Significant Manufacturers (Tabl

Significant Manufacturers (Tables)	12 Months Ended
	Dec. 31, 2021
Risks and Uncertainties [Abstract]
Schedule of Concentration Risk	The Company has the following significant concentrations related to suppliers: Year Ended 2021 2020 Inventory purchases: Supplier A 28 % 29 % Supplier B – related party 13 8 Supplier C 8 10 Supplier D – related party 40 44 Year Ended 2021 2020 2019 Net Revenue: Customer A 40 % 46 % 43 % Customer B 11 % 11 % 14 % Customer C 12 % 12 % 14 % Customer D 10 % 10 % 6 % Customer E 5 % 10 % 15 % As of 2021 2020 Net Receivables: Customer A 44 % 41 % Customer B 10 % 18 % Customer C 10 % 16 %

Significant Customers (Tables)

Significant Customers (Tables)	12 Months Ended
	Dec. 31, 2021
Risks and Uncertainties [Abstract]
Schedule of Concentration Risk	The Company has the following significant concentrations related to suppliers: Year Ended 2021 2020 Inventory purchases: Supplier A 28 % 29 % Supplier B – related party 13 8 Supplier C 8 10 Supplier D – related party 40 44 Year Ended 2021 2020 2019 Net Revenue: Customer A 40 % 46 % 43 % Customer B 11 % 11 % 14 % Customer C 12 % 12 % 14 % Customer D 10 % 10 % 6 % Customer E 5 % 10 % 15 % As of 2021 2020 Net Receivables: Customer A 44 % 41 % Customer B 10 % 18 % Customer C 10 % 16 %

Accounts Receivable (Tables)

Accounts Receivable (Tables)	12 Months Ended
	Dec. 31, 2021
Receivables [Abstract]
Schedule of Accounts Receivable	Accounts receivable consists of the following (in millions): As of 2021 2020 Accounts receivable $ 375.2 $ 405.6 Allowance for doubtful accounts (0.1) — Total accounts receivable, net of allowances $ 375.1 $ 405.6

Inventories (Tables)

Inventories (Tables)	12 Months Ended
	Dec. 31, 2021
Inventory Disclosure [Abstract]
Schedule of Inventories	Inventories consist of the following (in millions): As of 2021 2020 Inventory on hand $ 5.3 $ 3.2 Inventory in transit 6.6 7.3 Total inventory $ 11.9 $ 10.5

Property and Equipment (Tables)

Property and Equipment (Tables)	12 Months Ended
	Dec. 31, 2021
Property, Plant and Equipment [Abstract]
Schedule of Property and Equipment	Depreciation is computed using the straight-line method based upon the following estimated useful lives: Years Buildings 39 Machinery and equipment 5 Furniture and fixtures 7 Computer and software 3 Automobiles 5 Property and equipment consist of the following (in millions): As of 2021 2020 Building $ 10.1 $ 10.0 Machinery and equipment 1.6 1.3 Leasehold improvements 3.6 3.4 Furniture and fixtures 3.2 2.8 Computer and software 22.7 19.2 Total property and equipment 41.2 36.7 Less accumulated depreciation and amortization (30.9) (28.8) Total property and equipment, net $ 10.3 $ 7.9

Accrued Expenses (Tables)

Accrued Expenses (Tables)	12 Months Ended
	Dec. 31, 2021
Payables and Accruals [Abstract]
Schedule of Accrued Expenses	The Company’s accrued expenses consisted of the following (in millions): As of 2021 2020 Accrued price protection $ 67.2 $ 61.3 Accrued other customer related expenses 48.4 54.4 Accrued supplier/partner related expenses 39.2 12.4 Accrued payroll expenses 21.6 10.9 Accrued tax expenses — 2.7 Accrued other expenses 9.4 13.3 Total accrued expenses $ 185.8 $ 155.0

Share-Based Compensation (Table

Share-Based Compensation (Tables)	12 Months Ended
	Dec. 31, 2021
Share-based Payment Arrangement [Abstract]
Schedule of Stock Option Activity	A summary of the status of the Company’s stock option plans for the years ended December 31, 2021 and 2020 is presented below (in thousands): Number of options Weighted average exercise price Weighted Average remaining contractual life (years) Aggregate intrinsic value Outstanding at December 31, 2019 16,655 $ 2.96 6.1 Granted 4,066 7.33 Exercised (232) 3.11 $ 1,805 Forfeited (4,073) 2.59 Outstanding at December 31, 2020 16,416 4.16 7.1 $ 71,934 Granted 2,847 18.55 Exercised (3,961) 3.15 $ 23,630 Forfeited (941) 11.67 Outstanding at December 31, 2021 14,361 $ 6.80 6.8 $ 181,359 Stock options vested and exercisable at December 31, 2021 9,115 $ 3.72 5.7 $ 143,150 Year Ended 2021 2020 Weighted average grant date fair value of stock options granted during the year $9.22 $2.22 A summary of the nonvested stock options for the years ended December 31, 2021 and 2020 are as follows (options in thousands): Number of Options Weighted average grant date fair value Nonvested at December 31, 2019 6,933 $ 0.90 Granted 4,066 2.22 Forfeited (898) 1.72 Vested (2,947) 0.88 Nonvested at December 31, 2020 7,154 1.64 Granted 2,847 9.22 Forfeited (799) 6.53 Vested (3,956) 4.02 Nonvested at December 31, 2021 5,246 $ 6.24
Schedule of Weighted-Average Valuation Assumptions	The following provides information on the weighted-average assumptions used for stock options granted during the years ended December 31, 2021, 2020, and 2019 as follows (options in thousands): Year Ended 2021 2020 2019 Number of options granted 2,847 4,066 1,944 Volatility 43.0 % 40.5 % 39.0 % Expected term 6.25 years 6.25 years 6.25 years Dividend yield 1.1 % 2.4 % 3.1 % Risk-free interest rate 1.1 % 0.4 % 1.5 % Fair market value per share of common stock approved by the Company’s Board of Directors at the time of grant $ 21.19 $ 7.33 $ 5.39 Fair market value per option determined using a Black-Scholes-Merton Option pricing model for purposes of determining compensation expense $ 9.22 $ 2.22 $ 1.53
Schedule of Restricted Stock Unit Activity	RSU activity for the year ended December 31, 2021 was as follows (RSUs in thousands): Number of RSUs Weighted Average Grant Date Fair Value Outstanding at December 31, 2020 2,035 $ 8.54 Granted 7,776 20.65 Released (5,436) 17.58 Forfeited (309) 23.21 Outstanding at December 31, 2021 4,066 $ 20.45

Net (Loss) Income Per Share (Ta

Net (Loss) Income Per Share (Tables)	12 Months Ended
	Dec. 31, 2021
Earnings Per Share [Abstract]
Schedule of Basic and Diluted Earnings (Loss) Per Share	Basic and diluted earnings (loss) per share and the weighted-average shares outstanding have been computed for all periods as shown below: Year Ended December 31, 2021 2020 2019 Numerator Class A Class B Net (loss) income $ (24.2) $ (15.1) $ 102.5 $ 23.1 Less: Undistributed accumulated dividends on preferred shares — — (0.1) (0.1) Undistributed earnings (24.2) (15.1) 102.4 23.0 Less: Undistributed earnings attributable to participating securities — — (22.2) (5.0) Net (loss) income attributable to common shareholders $ (24.2) $ (15.1) $ 80.2 $ 18.0 Denominator (in thousands) Weighted-average common shares 108,111 67,391 144,381 144,127 Weighted-average effect of dilutive securities Employee stock options — — 2,631 2,936 Weighted average common shares outstanding-diluted 108,111 67,391 147,012 147,063 Basic net (loss) income per share attributable to common stockholders $ (0.22) $ (0.22) $ 0.56 $ 0.12 Diluted net (loss) income per share attributable to common stockholders $ (0.22) $ (0.22) $ 0.55 $ 0.12 Anti-dilutive equity awards under share-based award plans excluded from the determination of diluted EPS 17,071 5,067 3,652

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Schedule of Components of Provision for Income Taxes	The components of Provision for income taxes consist of the following: Year Ended 2021 2020 2019 Current: Federal $ 14.7 $ 23.7 $ 8.3 State 1.5 4.3 0.6 Foreign 0.6 — (0.6) Total current income tax expense (benefit) 16.8 28.0 8.3 Deferred: Federal (2.2) 1.9 (0.6) State (1.5) — — Foreign — — — Total deferred income tax expense (benefit) (3.7) 1.9 (0.6) Total $ 13.1 $ 29.9 $ 7.7
Schedule of Deferred Tax Assets and Liabilities	The tax effects of temporary differences that give rise to significant portions of deferred tax assets (liabilities) are as follows: As of December 31, December 31, Deferred tax assets: Accrued license payments $ 5.9 $ 7.7 Stock compensation 3.1 2.2 Accrued rebates 10.7 6.6 Accrued Legal Fees 1.9 3.1 Accrued Recycling Fees 2.9 2.3 Accrued Other 1.5 1.8 Leases 2.1 2.0 NOL carryforwards 2.2 2.4 Depreciation and amortization — — Other 4.6 2.4 34.9 30.5 Less valuation allowance (2.0) (2.2) Deferred tax assets $ 32.9 $ 28.3 Deferred tax liabilities: Federal impact of state taxes $ (0.6) $ (0.5) Depreciation and amortization (1.9) (1.1) Deferred tax liabilities (2.5) (1.6) Net deferred tax assets $ 30.4 $ 26.7
Schedule of Effective Income Tax Rate Reconciliation	The income tax provision differs from the amount obtained by applying the statutory tax rate as follows (in millions): As of 2021 2020 2019 Income tax provision at statutory rate $ (5.5) $ 27.8 $ 6.5 State income taxes (net of federal benefit) 2.5 4.8 1.0 Permanent tax differences 17.8 (0.1) 0.6 Tax differential on foreign earnings 0.1 (0.4) 0.1 Effect of U.S. tax law change — — (0.1) Tax credits (6.9) (2.7) (0.5) Tax contingencies 4.6 1.0 0.5 Prior year adjustments 0.3 (0.2) (0.3) Other 0.2 (0.3) (0.1) Total provision for income taxes $ 13.1 $ 29.9 $ 7.7
Schedule of Unrecognized Tax Benefits	A reconciliation of the beginning and ending amount of unrecognized tax benefits, exclusive of penalties, is as follow (in millions): As of 2021 2020 Unrecognized tax benefit at January 1 $ 2.9 $ 1.9 Gross increases – tax position in prior period 4.1 1.0 Settlement — — Unrecognized tax benefit at December 31 $ 7.0 $ 2.9
Schedule of Open Tax Years	The following tax years remain subject to examinations: Major jurisdiction Open years China 2018-2020 Mexico 2016-2020

Accrued Royalties (Tables)

Accrued Royalties (Tables)	12 Months Ended
	Dec. 31, 2021
Payables and Accruals [Abstract]
Schedule of Future Commitments on Royalty Obligations	A summary of future commitments on royalty obligations as of December 31, 2021 is as follows: 2022 $ 10.9 2023 6.8 2024 5.2 2025 3.0 2026 and thereafter 0.5 Total $ 26.3

Leases (Tables)

Leases (Tables)	12 Months Ended
	Dec. 31, 2021
Leases [Abstract]
Supplemental Balance Sheet Information	The table below presents supplemental balance sheet information related to the Company’s operating leases as follows (in millions, except lease term and discount rate): As of Classification 2021 2020 Assets: Right of use assets Other assets $ 8.9 $ 8.0 Liabilities: Lease liabilities-current Other current liabilities $ 2.4 $ 2.9 Lease liabilities-noncurrent Other long-term liabilities $ 6.5 $ 5.1 Weighted Average Remaining Lease term 4.2 years 3.7 years Weighted Average Discount Rate 3.70 % 3.40 %
Schedule of Lease Costs	The following operating lease costs were included in the Company’s consolidated statements of operations (in millions): Year Ended 2021 2020 2019 Operating lease costs $ 4.1 $ 2.8 $ 3.0
Schedule of Undiscounted Cash Flows of Operating Leases	The table below reconciles the undiscounted cash flows of the operating leases to the operating lease liabilities recorded on the consolidated balance sheet as of December 31, 2021. 2022 $ 2.6 2023 2.1 2024 1.7 2025 1.5 2026 and thereafter 1.9 Total minimum lease payments 9.8 Less imputed interest (0.9) Total lease liabilities $ 8.9

Organization and Nature of Bu_2

Organization and Nature of Business (Details) $ / shares in Units, $ in Millions	Mar. 31, 2021$ / sharesshares	Mar. 29, 2021USD ($)$ / sharesshares	Mar. 28, 2021shares	Mar. 15, 2021shares	Mar. 12, 2021	Dec. 31, 2021USD ($)manufacturershares	Dec. 31, 2020shares
Class of Stock [Line Items]
Number of awards assumed for each award granted under share-based compensation plans					1
Common stock, authorized (in shares)						1,350,000,000	675,000,000
Preferred stock, authorized (in shares)		100,000,000	100,000,000
Investor and affiliates | Purchase of televisions since inception
Class of Stock [Line Items]
Number of manufacturers purchased from | manufacturer						1
Investor and affiliates | Purchase of televisions since 2012
Class of Stock [Line Items]
Number of manufacturers purchased from | manufacturer						3
IPO
Class of Stock [Line Items]
Number of shares issued		12,250,000
Offering price (in dollars per share) | $ / shares		$ 21
Net proceeds on issuance | $		$ 144.9
Underwriting discounts and commissions | $		10.7				$ 10.7
Offering expenses | $		$ 3.1
Underwriters' option
Class of Stock [Line Items]
Number of shares issued	1,709,274
Offering price (in dollars per share) | $ / shares	$ 21
IPO, new shares issued
Class of Stock [Line Items]
Number of shares issued		7,560,000
IPO, from existing shareholders
Class of Stock [Line Items]
Number of shares issued		4,690,000
Vizio Holding Corp | VIZIO, Inc.
Class of Stock [Line Items]
Percentage of outstanding shares acquired					100.00%
Class A common stock
Class of Stock [Line Items]
Shares issued in exchange for cancelled shares					1
Stock split ratio				9
Shares issued upon conversion				225
Shares issued upon conversion			30,315,600
Common stock, authorized (in shares)			1,000,000,000
Class B common stock
Class of Stock [Line Items]
Common stock, authorized (in shares)			200,000,000
Class C common stock
Class of Stock [Line Items]
Common stock, authorized (in shares)			150,000,000
Series A convertible preferred stock
Class of Stock [Line Items]
Conversion of stock, shares converted			134,736
Shares issued upon conversion			30,315,600
Preferred stock, authorized (in shares)		0				25,000,000	25,000,000
William Wang and affiliated trusts | Class B common stock
Class of Stock [Line Items]
Conversion of stock, shares converted			98,633,025

Summary of Significant Accoun_4

Summary of Significant Accounting Policies - Property and Equipment (Details)	12 Months Ended
	Dec. 31, 2021
Building
Property, Plant and Equipment [Line Items]
Estimated useful life	39 years
Machinery and equipment
Property, Plant and Equipment [Line Items]
Estimated useful life	5 years
Furniture and fixtures
Property, Plant and Equipment [Line Items]
Estimated useful life	7 years
Computer and software
Property, Plant and Equipment [Line Items]
Estimated useful life	3 years
Automobiles
Property, Plant and Equipment [Line Items]
Estimated useful life	5 years

Summary of Significant Accoun_5

Summary of Significant Accounting Policies - Narrative (Details) - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Accounting Policies [Abstract]
Capitalized software development costs	$ 2,200,000	$ 3,100,000	$ 3,800,000
Amortization of capitalized software development costs	2,800,000	3,400,000	3,000,000
Goodwill impairment	0	0	0
Contract assets	0	0
Capitalized contract costs	0	0
Recycling costs	7,900,000	9,300,000	10,700,000
Cooperated advertising arrangements recorded as a reduction of net revenue	$ 3,100,000	$ 6,600,000	$ 14,100,000
Product warranty minimum term	1 year
Product warranty maximum term	2 years

Significant Manufacturers - Inv

Significant Manufacturers - Inventory Purchases (Details) - Supplier concentration risk - Inventory purchases	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Supplier A
Concentration Risk [Line Items]
Concentration risk (percent)	28.00%	29.00%
Supplier B – related party
Concentration Risk [Line Items]
Concentration risk (percent)	13.00%	8.00%
Supplier C
Concentration Risk [Line Items]
Concentration risk (percent)	8.00%	10.00%
Supplier D – related party
Concentration Risk [Line Items]
Concentration risk (percent)	40.00%	44.00%

Significant Manufacturers - Nar

Significant Manufacturers - Narrative (Details) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020
Other receivables, manufacturers
Concentration Risk [Line Items]
Receivables due from manufacturers	$ 5.6	$ 3

Significant Customers (Details)

Significant Customers (Details)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Net Revenue | Customer concentration risk | Customer A
Concentration Risk [Line Items]
Concentration risk (percent)	40.00%	46.00%	43.00%
Net Revenue | Customer concentration risk | Customer B
Concentration Risk [Line Items]
Concentration risk (percent)	11.00%	11.00%	14.00%
Net Revenue | Customer concentration risk | Customer C
Concentration Risk [Line Items]
Concentration risk (percent)	12.00%	12.00%	14.00%
Net Revenue | Customer concentration risk | Customer D
Concentration Risk [Line Items]
Concentration risk (percent)	10.00%	10.00%	6.00%
Net Revenue | Customer concentration risk | Customer E
Concentration Risk [Line Items]
Concentration risk (percent)	5.00%	10.00%	15.00%
Net Revenue | Customer concentration risk | Affiliates under common control
Concentration Risk [Line Items]
Concentration risk (percent)	52.00%	58.00%	57.00%
Net Receivables | Credit concentration risk | Customer A
Concentration Risk [Line Items]
Concentration risk (percent)	44.00%	41.00%
Net Receivables | Credit concentration risk | Customer B
Concentration Risk [Line Items]
Concentration risk (percent)	10.00%	18.00%
Net Receivables | Credit concentration risk | Customer C
Concentration Risk [Line Items]
Concentration risk (percent)	10.00%	16.00%

Accounts Receivable (Details)

Accounts Receivable (Details) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020
Receivables [Abstract]
Accounts receivable	$ 375.2	$ 405.6
Allowance for doubtful accounts	(0.1)	0
Total accounts receivable, net of allowances	$ 375.1	$ 405.6

Inventories (Details)

Inventories (Details) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020
Inventory [Line Items]
Total inventory	$ 11.9	$ 10.5
Inventory on hand
Inventory [Line Items]
Total inventory	5.3	3.2
Inventory in transit
Inventory [Line Items]
Total inventory	$ 6.6	$ 7.3

Property and Equipment - Compon

Property and Equipment - Components of Property and Equipment (Details) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020
Property, Plant and Equipment [Line Items]
Total property and equipment	$ 41.2	$ 36.7
Less accumulated depreciation and amortization	(30.9)	(28.8)
Total property and equipment, net	10.3	7.9
Building
Property, Plant and Equipment [Line Items]
Total property and equipment	10.1	10
Machinery and equipment
Property, Plant and Equipment [Line Items]
Total property and equipment	1.6	1.3
Leasehold improvements
Property, Plant and Equipment [Line Items]
Total property and equipment	3.6	3.4
Furniture and fixtures
Property, Plant and Equipment [Line Items]
Total property and equipment	3.2	2.8
Computer and software
Property, Plant and Equipment [Line Items]
Total property and equipment	$ 22.7	$ 19.2

Property and Equipment - Narrat

Property and Equipment - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Property, Plant and Equipment [Abstract]
Depreciation expense	$ 2.1	$ 1.6	$ 3.6
Long-lived assets, including property, plant and equipment and other intangible assets	$ 10.3	$ 8.1

Segment Information (Details)

Segment Information (Details)	12 Months Ended
	Dec. 31, 2021segment
Segment Reporting [Abstract]
Number of operating segments	2
Number of reportable segments	2

Goodwill (Details)

Goodwill (Details) - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill	$ 44,800,000	$ 44,800,000
Goodwill impairment	$ 0	$ 0	$ 0

Accrued Expenses (Details)

Accrued Expenses (Details) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020
Payables and Accruals [Abstract]
Accrued price protection	$ 67.2	$ 61.3
Accrued other customer related expenses	48.4	54.4
Accrued supplier/partner related expenses	39.2	12.4
Accrued payroll expenses	21.6	10.9
Accrued tax expenses	0	2.7
Accrued other expenses	9.4	13.3
Total accrued expenses	$ 185.8	$ 155

Stockholders' Equity (Details)

Stockholders' Equity (Details) $ / shares in Units, $ in Thousands	Mar. 28, 2021USD ($)shares	Dec. 31, 2021USD ($)votedirector$ / sharesshares	Dec. 31, 2020USD ($)$ / sharesshares	Dec. 31, 2019USD ($)	Mar. 29, 2021$ / sharesshares
Class of Stock [Line Items]
Preferred stock, authorized (in shares)	100,000,000				100,000,000
Preferred stock, par value (in dollars per share) | $ / shares					$ 0.0001
Dividends paid | $	$ 600	$ 600	$ 0	$ 0
Common stock, authorized (in shares)		1,350,000,000	675,000,000
Common stock, par value (in dollars per share) | $ / shares		$ 0.0001	$ 0.0001
Common stock, issued (in shares)		193,255,537
Common stock, outstanding (in shares)		190,023,855
Percentage of common stock held by affiliates		25.00%
Period after death or permanent and total disability		12 months
Minimum
Class of Stock [Line Items]
Period following conversion scenarios		61 days
Maximum
Class of Stock [Line Items]
Period following conversion scenarios		180 days
Series A convertible preferred stock
Class of Stock [Line Items]
Preferred stock, authorized (in shares)		25,000,000	25,000,000		0
Preferred stock, par value (in dollars per share) | $ / shares		$ 0.0001	$ 0.0001
Conversion of stock, shares converted	134,736
Shares issued upon conversion	30,315,600
Voting right for election of member of Board of Directors | director		1
Preferred stock dividend rate		6.00%
Dividends payable | $		$ 0	$ 600
Terms of conversion, minimum aggregate net proceeds after occurrence of underwritten public offering | $		$ 15,000
Liquidation preference (in dollars per share) | $ / shares		$ 14.84
Class A common stock
Class of Stock [Line Items]
Shares issued upon conversion	30,315,600
Common stock, authorized (in shares)	1,000,000,000
Common stock, issued (in shares)		116,441,000	150,831,000
Common stock, outstanding (in shares)		113,209,000	150,831,000
Voting rights per share | vote		1
Common stock issued for each share upon conversion (in shares)		1
Class B common stock
Class of Stock [Line Items]
Common stock, authorized (in shares)	200,000,000
Common stock, issued (in shares)		76,815,000	0
Common stock, outstanding (in shares)		76,815,000	0
Voting rights per share | vote		10

Share-Based Compensation - Narr

Share-Based Compensation - Narrative (Details) - USD ($)

Mar. 25, 2021

Dec. 31, 2020

Oct. 08, 2019

Oct. 29, 2010

Aug. 31, 2017

Dec. 31, 2024

Dec. 31, 2023

Dec. 31, 2022

Dec. 31, 2021

Dec. 31, 2020

Dec. 31, 2019

Mar. 31, 2021

Feb. 28, 2021

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Options outstanding (in shares)

16,416,000

14,361,000

16,416,000

16,655,000

Midpoint price range of shares (in dollars per share)

$ 22

Share-based compensation expense

$ 134,400,000

$ 4,800,000

$ 4,100,000

Shares withheld to cover withholding taxes for stock awards (in shares)

3,231,682

Shares withheld to cover withholding taxes for stock awards

$ 71,000,000

Cost of goods sold and research and development expense

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Share-based compensation expense

2,900,000

Stock options

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Unrecognized compensation costs

$ 27,300,000

Unrecognized compensation costs recognition period

2 years 14 days

Restricted stock awards

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Vesting term (in years)

4 years

Awards granted

234,000

4,995,000

Fair value stock price at time of grant (in dollars per share)

$ 5.39

$ 1.93

Additional vesting term if IPO not completed

3 years

Forfeiture term if IPO not completed

7 years

RSUs

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Unrecognized compensation costs recognition period

2 years 18 days

Awards granted

2,034,972

7,776,000

Weighted average grant date fair value (in dollars per share)

$ 8.54

$ 20.45

$ 8.54

Grant-date fair value of awards granted

$ 160,600,000

$ 26,900,000

Fair value of awards vested

126,800,000

$ 0

Unrecognized compensation costs

63,800,000

RSUs | Minimum

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Vesting term (in years)

1 year

RSUs | Maximum

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Vesting term (in years)

4 years

Stock options and RSUs

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Fair value stock price at time of grant (in dollars per share)

$ 8.54

$ 8.54

Stock options and RSUs | December 2020 and February 2021

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Share-based compensation expense

$ 58,200,000

Stock options and RSUs | December 2020 and February 2021 | Forecast

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Share-based compensation expense

$ 1,700,000

$ 2,100,000

$ 8,400,000

Stock options and RSUs | December 2020 and February 2021 | Minimum

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Fair value stock price at time of grant (in dollars per share)

$ 8.54

Stock options and RSUs | December 2020 and February 2021 | Maximum

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Fair value stock price at time of grant (in dollars per share)

$ 22

2017 Plan

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Number of shares available for grant (in shares)

24,446,502

2017 Plan | Maximum

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Number of additional shares reserved for issuance (in shares)

40,520,655

2017 Plan | Stock options

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Award term (in years)

10 years

Vesting term (in years)

4 years

2017 Plan | Stock appreciation rights

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Award term (in years)

10 years

Vesting term (in years)

4 years

2007 Plan

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Award term (in years)

10 years

Vesting term (in years)

4 years

Options outstanding (in shares)

1,113,362

Forfeiture term if employment or other services terminate prior to vesting

90 days

2021 ESPP

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Number of additional shares reserved for issuance (in shares)

5,400,000

Shares reserved for issuance (in shares)

1,800,000

Additional shares reserved for issuance, as a percent of outstanding shares

1.00%

Maximum employee subscription rate

10.00%

Purchase discount from market price

85.00%

Shares of common stock, threshold for purchase amount

1,000

Monetary component, threshold for purchase amount

$ 12,500

Shares issued under plan

94,739

Share-based compensation expense

$ 600,000

Share-Based Compensation - Stoc

Share-Based Compensation - Stock Option Award Activity (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Number of options
Beginning balance (in shares)	16,416	16,655
Granted (in shares)	2,847	4,066	1,944
Exercised (in shares)	(3,961)	(232)
Forfeited and expired (in shares)	(941)	(4,073)
Ending balance (in shares)	14,361	16,416	16,655
Stock options vested and exercisable (in shares)	9,115
Weighted average exercise price
Beginning balance (in dollars per share)	$ 4.16	$ 2.96
Granted (in dollars per share)	18.55	7.33
Exercised (in dollars per share)	3.15	3.11
Forfeited and expired (in dollars per share)	11.67	2.59
Ending balance (in dollars per share)	6.80	$ 4.16	$ 2.96
Stock options vested and exercisable (in dollars per share)	$ 3.72
Weighted Average remaining contractual life (years)
Options outstanding (in years)	6 years 9 months 18 days	7 years 1 month 6 days	6 years 1 month 6 days
Stock options vested and exercisable (in years)	5 years 8 months 12 days
Aggregate intrinsic value
Options exercised, aggregate intrinsic value	$ 23,630	$ 1,805
Options outstanding, aggregate intrinsic value	181,359	$ 71,934
Stock options vested, aggregate intrinsic value	$ 143,150

Share-Based Compensation - Weig

Share-Based Compensation - Weighted Average Grant Date Fair Value of Stock Options Granted (Details) - $ / shares	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Share-based Payment Arrangement [Abstract]
Weighted average grant date fair value of stock options granted during the year (in dollars per share)	$ 9.22	$ 2.22	$ 1.53

Share-Based Compensation - Nonv

Share-Based Compensation - Nonvested Stock Option Activity (Details) - $ / shares shares in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Number of Options
Nonvested, beginning (in shares)	7,154	6,933
Granted (in shares)	2,847	4,066	1,944
Forfeited and expired (in shares)	(799)	(898)
Vested (in shares)	(3,956)	(2,947)
Nonvested, ending (in shares)	5,246	7,154	6,933
Weighted average grant date fair value
Nonvested, beginning (in dollars per share)	$ 1.64	$ 0.90
Granted (in dollars per share)	9.22	2.22	$ 1.53
Forfeited and expired (in dollars per share)	6.53	1.72
Vested (in dollars per share)	4.02	0.88
Nonvested, ending (in dollars per share)	$ 6.24	$ 1.64	$ 0.90

Share-Based Compensation - Fair

Share-Based Compensation - Fair Value Assumptions of Options (Details) - $ / shares shares in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Weighted-Average Assumptions
Number of options granted (in shares)	2,847	4,066	1,944
Fair market value per share of common stock approved by the Company’s Board of Directors at the time of grant	$ 21.19	$ 7.33	$ 5.39
Weighted average grant date fair value of stock options granted during the year (in dollars per share)	$ 9.22	$ 2.22	$ 1.53
Stock options
Weighted-Average Assumptions
Volatility	43.00%	40.50%	39.00%
Expected term	6 years 3 months	6 years 3 months	6 years 3 months
Dividend yield	1.10%	2.40%	3.10%
Risk-free interest rate	1.10%	0.40%	1.50%

Share-Based Compensation - Rest

Share-Based Compensation - Restricted Stock Units Activity (Details) - RSUs - $ / shares	Dec. 31, 2020	Dec. 31, 2021
Number of RSUs
Outstanding, beginning (in shares)		2,035,000
Awards granted	2,034,972	7,776,000
Released (in shares)		(5,436,000)
Forfeited (in shares)		(309,000)
Outstanding, ending (in shares)	2,035,000	4,066,000
Weighted Average Grant Date Fair Value
Outstanding, beginning (in dollars per share)		$ 8.54
Granted (in dollars per share)		20.65
Released (in dollars per share)		17.58
Forfeited (in dollars per share)		23.21
Outstanding, ending (in dollars per share)	$ 8.54	$ 20.45

Net (Loss) Income Per Share (De

Net (Loss) Income Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Numerator
Net (loss) income	$ (39.4)	$ 102.5	$ 23.1
Less: Undistributed accumulated dividends on preferred shares		(0.1)	(0.1)
Undistributed earnings		102.4	23
Less: Undistributed earnings attributable to participating securities		(22.2)	(5)
Net (loss) income attributable to common stockholders - basic		80.2	18
Net (loss) income attributable to common stockholders - diluted		$ 80.2	$ 18
Denominator (in thousands)
Weighted-average common shares outstanding - basic (in shares)	175,502	144,381	144,127
Weighted-average effect of dilutive securities
Employee stock options (in shares)		2,631	2,936
Weighted average common shares outstanding - diluted (in shares)	175,502	147,012	147,063
Net income (loss) per share attributable to common stockholders
Basic net (loss) income per share attributable to common stockholders (in dollars per share)	$ (0.22)	$ 0.56	$ 0.12
Diluted net (loss) income per share attributable to common stockholders (in dollars per share)	$ (0.22)	$ 0.55	$ 0.12
Anti-dilutive equity awards under share-based award plans excluded from the determination of diluted EPS (in shares)		5,067	3,652
Class A common stock
Numerator
Net (loss) income	$ (24.2)
Less: Undistributed accumulated dividends on preferred shares	0
Undistributed earnings	(24.2)
Less: Undistributed earnings attributable to participating securities	0
Net (loss) income attributable to common stockholders - basic	(24.2)
Net (loss) income attributable to common stockholders - diluted	$ (24.2)
Denominator (in thousands)
Weighted-average common shares outstanding - basic (in shares)	108,111
Weighted-average effect of dilutive securities
Employee stock options (in shares)	0
Weighted average common shares outstanding - diluted (in shares)	108,111
Net income (loss) per share attributable to common stockholders
Basic net (loss) income per share attributable to common stockholders (in dollars per share)	$ (0.22)
Diluted net (loss) income per share attributable to common stockholders (in dollars per share)	$ (0.22)
Anti-dilutive equity awards under share-based award plans excluded from the determination of diluted EPS (in shares)	17,071
Class B common stock
Numerator
Net (loss) income	$ (15.1)
Less: Undistributed accumulated dividends on preferred shares	0
Undistributed earnings	(15.1)
Less: Undistributed earnings attributable to participating securities	0
Net (loss) income attributable to common stockholders - basic	(15.1)
Net (loss) income attributable to common stockholders - diluted	$ (15.1)
Denominator (in thousands)
Weighted-average common shares outstanding - basic (in shares)	67,391
Weighted-average effect of dilutive securities
Employee stock options (in shares)	0
Weighted average common shares outstanding - diluted (in shares)	67,391
Net income (loss) per share attributable to common stockholders
Basic net (loss) income per share attributable to common stockholders (in dollars per share)	$ (0.22)
Diluted net (loss) income per share attributable to common stockholders (in dollars per share)	$ (0.22)
Anti-dilutive equity awards under share-based award plans excluded from the determination of diluted EPS (in shares)

Income Taxes - Components of Pr

Income Taxes - Components of Provision for Income Taxes (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Current:
Federal	$ 14.7	$ 23.7	$ 8.3
State	1.5	4.3	0.6
Foreign	0.6	0	(0.6)
Total current income tax expense (benefit)	16.8	28	8.3
Deferred:
Federal	(2.2)	1.9	(0.6)
State	(1.5)	0	0
Foreign	0	0	0
Total deferred income tax expense (benefit)	(3.7)	1.9	(0.6)
Total provision for income taxes	$ 13.1	$ 29.9	$ 7.7

Income Taxes - Deferred Tax Ass

Income Taxes - Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020
Deferred tax assets:
Accrued license payments	$ 5.9	$ 7.7
Stock compensation	3.1	2.2
Accrued rebates	10.7	6.6
Accrued Legal Fees	1.9	3.1
Accrued Recycling Fees	2.9	2.3
Accrued Other	1.5	1.8
Leases	2.1	2
NOL carryforwards	2.2	2.4
Depreciation and amortization	0	0
Other	4.6	2.4
Deferred tax assets, gross	34.9	30.5
Less valuation allowance	(2)	(2.2)
Deferred tax assets	32.9	28.3
Deferred tax liabilities:
Federal impact of state taxes	(0.6)	(0.5)
Depreciation and amortization	(1.9)	(1.1)
Deferred tax liabilities	(2.5)	(1.6)
Net deferred tax assets	$ 30.4	$ 26.7

Income Taxes - Narrative (Detai

Income Taxes - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Operating Loss Carryforwards [Line Items]
Tax credit carryforwards	$ 1.5
Operating loss and tax credit carryforwards, valuation allowance	1
Deferred tax assets, valuation allowance	2	$ 2.2
Liabilities for unrecognized tax benefits inclusive of penalties	7.7
Unrecognized tax benefits that would affect the effective tax rate if recognized	6.8	2.6
Interest and penalties expense related to unrecognized tax benefits	0.1	0.6	$ 0.2
Accrued interest and penalties related to unrecognized tax benefits	1.3	1.2
Provision for income taxes	$ 13.1	$ 29.9	$ 7.7
Effective tax rate (percent)	(50.00%)
Effect of share-based compensation expense, tax excess benefits, and the compensation deduction limitation	$ 18.3
State and foreign net operating losses and research and development credit carryforwards
Operating Loss Carryforwards [Line Items]
Deferred tax assets, valuation allowance	1.3
Federal
Operating Loss Carryforwards [Line Items]
Net operating loss carryforwards	3.6
State
Operating Loss Carryforwards [Line Items]
Net operating loss carryforwards	10.4
California
Operating Loss Carryforwards [Line Items]
Net operating loss carryforwards	$ 0.9

Income Taxes - Effective Income

Income Taxes - Effective Income Tax Rate Reconciliation (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Income Tax Disclosure [Abstract]
Income tax provision at statutory rate	$ (5.5)	$ 27.8	$ 6.5
State income taxes (net of federal benefit)	2.5	4.8	1
Permanent tax differences	17.8	(0.1)	0.6
Tax differential on foreign earnings	0.1	(0.4)	0.1
Effect of U.S. tax law change	0	0	(0.1)
Tax credits	(6.9)	(2.7)	(0.5)
Tax contingencies	4.6	1	0.5
Prior year adjustments	0.3	(0.2)	(0.3)
Other	0.2	(0.3)	(0.1)
Total provision for income taxes	$ 13.1	$ 29.9	$ 7.7

Income Taxes - Unrecognized Tax

Income Taxes - Unrecognized Tax Benefits (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Unrecognized Tax Benefits
Unrecognized tax benefit at January 1	$ 2.9	$ 1.9
Gross increases – tax position in prior period	4.1	1
Settlement	0	0
Unrecognized tax benefit at December 31	$ 7	$ 2.9

Defined Contribution Retireme_2

Defined Contribution Retirement Plan (Details) - USD ($) $ in Millions	1 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Retirement Benefits [Abstract]
Discretionary matching contributions	$ 1.8	$ 0.9	$ 0.5

Accrued Royalties - Future Comm

Accrued Royalties - Future Commitments on Royalty Obligations (Details) - Royalty obligations $ in Millions	Dec. 31, 2021USD ($)
Other Commitments [Line Items]
2022	$ 10.9
2023	6.8
2024	5.2
2025	3
2026 and thereafter	0.5
Total	$ 26.3

Accrued Royalties - Narrative (

Accrued Royalties - Narrative (Details) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020
Payables and Accruals [Abstract]
Reserve for estimated unreimbursed settlements	$ 32.5	$ 49.6
Refundable deposits	$ 24.3	$ 31.5

Other Income, Net (Details)

Other Income, Net (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 15, 2021
Other Income and Expenses [Abstract]
Settlement Agreement payment to be received for abandonment of claims		$ 3.5
Other income related to settlement proceeds	$ 2.9

Leases - Supplemental Balance S

Leases - Supplemental Balance Sheet Information (Details) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020
Assets:
Right of use assets	$ 8.9	$ 8
Right of use assets, balance sheet [Extensible Enumeration]	Other assets	Other assets
Liabilities:
Lease liabilities-current	$ 2.4	$ 2.9
Lease liabilities-current, balance sheet [Extensible Enumeration]	Other current liabilities	Other current liabilities
Lease liabilities-noncurrent	$ 6.5	$ 5.1
Lease liabilities-noncurrent, balance sheet [Extensible Enumeration]	Other long-term liabilities	Other long-term liabilities
Weighted Average Remaining Lease term	4 years 2 months 12 days	3 years 8 months 12 days
Weighted Average Discount Rate	3.70%	3.40%

Leases - Operating Lease Costs

Leases - Operating Lease Costs (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Leases [Abstract]
Operating lease costs	$ 4.1	$ 2.8	$ 3

Leases - Reconciliation of Undi

Leases - Reconciliation of Undiscounted Cash Flows of Operating Leases (Details) $ in Millions	Dec. 31, 2021USD ($)
Leases [Abstract]
2022	$ 2.6
2023	2.1
2024	1.7
2025	1.5
2026 and thereafter	1.9
Total minimum lease payments	9.8
Less imputed interest	(0.9)
Total lease liabilities	$ 8.9

Leases - Narrative (Details)

Leases - Narrative (Details) $ in Millions	12 Months Ended
	Dec. 31, 2021USD ($)related_party	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)
Lessee, Lease, Description [Line Items]
Rental income	$ 0.4	$ 0.4	$ 0.4
Spyglass
Lessee, Lease, Description [Line Items]
Ownership interest	13.00%
Number of related parties in ownership | related_party	2
Investment	$ 0.5	0.5
Spyglass | Affiliated entity
Lessee, Lease, Description [Line Items]
Net rent expense	$ 0.7	$ 1	$ 0.9

Commitment and Contingencies (D

Commitment and Contingencies (Details) - USD ($)	Aug. 30, 2018	Nov. 30, 2020	Jun. 30, 2021	Dec. 31, 2021	Apr. 13, 2016
Commitments and Contingencies Disclosure [Abstract]
Weeks of inventory for supply commitment				91 days
Commitments and Contingencies [Line Items]
Liability for supply commitment				$ 0
Weeks of inventory for supply commitment				91 days
Revolving credit facility | Line of credit
Commitments and Contingencies [Line Items]
Maximum borrowing capacity					$ 50,000,000
Debt fee			$ 75,000
AMD patent infringement
Commitments and Contingencies [Line Items]
Litigation settlement award to other party	$ 39,000,000
Settlement portion paid in previous periods	$ 15,000,000
Payments for legal settlements			$ 14,000,000
AmTRAN settlement agreement | Investor
Commitments and Contingencies [Line Items]
Litigation settlement award from other party		$ 8,200,000
Reserve for future claims		$ 4,000,000
Reserve for future claims, percentage to be released		50.00%
Reserve for future claims, amount to be released		$ 2,000,000
AmTRAN | VIZIO
Commitments and Contingencies [Line Items]
Beneficial holder, percentage of common stock, more than		5.00%