Aurora Innovation, Inc. General form of registration statement for all companies including face-amount certificate companies

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2020

The Company only has operations in the United States. Loss from operations before income taxes is categorized geographically as follows:


	2020			2019
United States	$	(214,447	)	$	(101,848	)

Total loss from operations before income taxes	$	(214,447	)	$	(101,848	)

The federal and state income tax provision is summarized as follows:


	2020		2019
Current income tax expense:
Federal	$	—	$	—
State		2		7

Total current income tax expense		2		7

Deferred income tax benefit:
Federal		—		(5,012	)
State		—		(2,766	)

Total deferred income tax benefit		—		(7,778	)

Total tax benefit (expense)	$	2	$	(7,771	)

The effective tax rate of the Company’s provision for income taxes differs from the federal statutory rate as follows:


	2020			2019
Tax at federal statutory rate		21.0	%		21.0	%
State income tax, net of federal tax benefit		—			2.7
Stock-based compensation		(1.5	)		(5.6	)
Research and development credits		3.5			3.5
Other		0.2			(0.2	)
Change in valuation allowance		(23.2	)		(13.8	)

Total provision for income taxes		—	%		7.6	%

The tax effects of significant items comprising the Company’s deferred taxes are as follows:


	2020			2019
Deferred tax assets:
Net operating losses	$	70,125		$	31,850
Tax credits		21,461			9,781
Stock-based compensation		324			—
Accrued compensation and related expenses		2,293			425
Lease liability		24,521			4,930
Other		236			223

Total deferred tax assets		118,960			47,209
Valuation allowance		(87,241	)		(30,525	)

Total deferred tax assets, net of valuation allowance		31,719			16,684
Deferred tax liabilities:
Depreciation and amortization		(11,040	)		(14,630	)
Right of use asset		(23,253	)		(4,658	)
Other		(478	)		(448	)

Total deferred tax liabilities		(34,771	)		(19,736	)

Total net deferred tax assets	$	(3,052	)	$	(3,052	)

Changes in balances during 2020 and 2019 and ending balances as of December 31, 2020 and 2019 in gross unrecognized tax benefits were as follows:


	2020			2019
Beginning balance	$	2,360		$	982
Increases related to tax positions taken during a prior year		202			24
Increases related to tax positions taken during the current year		2,772			1,553
Decreases related to tax positions taken during a prior year		(78	)		(199	)
Decreases related to tax settlements with taxing authorities		—			—

Ending balance	$	5,256		$	2,360