2020 Q4 Form 10-K Financial Statement
#000156459021014601 Filed on March 22, 2021
Income Statement
| Concept | 2020 Q4 | 2020 | 2019 Q4 |
|---|---|---|---|
| Revenue | $1.818B | $4.939B | $395.0M |
| YoY Change | 360.33% | 286.3% | |
| Cost Of Revenue | $44.14M | $125.3M | $18.80M |
| YoY Change | 134.81% | 91.58% | |
| Gross Profit | $1.774B | $4.813B | $376.2M |
| YoY Change | 371.6% | 296.78% | |
| Gross Profit Margin | 97.57% | 97.46% | 95.24% |
| Selling, General & Admin | $176.1M | $671.4M | $168.3M |
| YoY Change | 4.6% | 37.94% | |
| % of Gross Profit | 9.92% | 13.95% | 44.74% |
| Research & Development | |||
| YoY Change | |||
| % of Gross Profit | |||
| Depreciation & Amortization | $236.7M | $570.4M | $55.60M |
| YoY Change | 325.63% | 350.52% | |
| % of Gross Profit | 13.34% | 11.85% | 14.78% |
| Operating Expenses | $348.1M | $1.554B | $182.2M |
| YoY Change | 91.03% | 79.95% | |
| Operating Profit | $1.426B | $3.260B | $194.0M |
| YoY Change | 635.1% | 832.03% | |
| Interest Expense | -$53.35M | $167.0M | -$45.10M |
| YoY Change | 18.3% | 1.77% | |
| % of Operating Profit | -3.74% | 5.12% | -23.25% |
| Other Income/Expense, Net | $0.00 | ||
| YoY Change | |||
| Pretax Income | $1.373B | $3.385B | $148.9M |
| YoY Change | 821.92% | 715.54% | |
| Income Tax | $950.0K | $2.450M | $0.00 |
| % Of Pretax Income | 0.07% | 0.07% | 0.0% |
| Net Earnings | $1.372B | -$5.807M | $148.9M |
| YoY Change | 821.28% | -101.4% | |
| Net Earnings / Revenue | 75.44% | -0.12% | 37.7% |
| Basic Earnings Per Share | |||
| Diluted Earnings Per Share | $13.30M | $32.81M | $1.444M |
| COMMON SHARES | |||
| Basic Shares Outstanding | |||
| Diluted Shares Outstanding |
Balance Sheet
| Concept | 2020 Q4 | 2020 | 2019 Q4 |
|---|---|---|---|
| SHORT-TERM ASSETS | |||
| Cash & Short-Term Investments | $1.224B | $1.224B | |
| YoY Change | 818.11% | ||
| Cash & Equivalents | $1.224B | $1.224B | $1.120K |
| Short-Term Investments | |||
| Other Short-Term Assets | |||
| YoY Change | |||
| Inventory | |||
| Prepaid Expenses | |||
| Receivables | $14.14M | ||
| Other Receivables | $179.4M | ||
| Total Short-Term Assets | $1.477B | $1.417B | $412.5K |
| YoY Change | 358071.76% | 393.0% | |
| LONG-TERM ASSETS | |||
| Property, Plant & Equipment | $107.6M | $223.6M | |
| YoY Change | 65.14% | ||
| Goodwill | |||
| YoY Change | |||
| Intangibles | |||
| YoY Change | |||
| Long-Term Investments | $0.00 | ||
| YoY Change | |||
| Other Assets | |||
| YoY Change | |||
| Total Long-Term Assets | $10.02B | $10.08B | $0.00 |
| YoY Change | 58.26% | ||
| TOTAL ASSETS | |||
| Total Short-Term Assets | $1.477B | $1.417B | $412.5K |
| Total Long-Term Assets | $10.02B | $10.08B | $0.00 |
| Total Assets | $11.49B | $11.49B | $412.5K |
| YoY Change | 2786237.74% | 72.73% | |
| SHORT-TERM LIABILITIES | |||
| YoY Change | |||
| Accounts Payable | $848.0M | $847.7M | |
| YoY Change | 199.56% | ||
| Accrued Expenses | $3.917M | $104.5M | $274.7K |
| YoY Change | 1326.03% | 13.87% | |
| Deferred Revenue | |||
| YoY Change | |||
| Short-Term Debt | $0.00 | $0.00 | |
| YoY Change | |||
| Long-Term Debt Due | |||
| YoY Change | |||
| Total Short-Term Liabilities | $104.5M | $952.3M | $426.5K |
| YoY Change | 24409.96% | 150.07% | |
| LONG-TERM LIABILITIES | |||
| Long-Term Debt | $8.101B | $8.101B | |
| YoY Change | 44.92% | ||
| Other Long-Term Liabilities | $66.24M | $66.24M | |
| YoY Change | 195.7% | ||
| Total Long-Term Liabilities | $8.167B | $8.167B | |
| YoY Change | 45.53% | ||
| TOTAL LIABILITIES | |||
| Total Short-Term Liabilities | $104.5M | $952.3M | $426.5K |
| Total Long-Term Liabilities | $8.167B | $8.167B | |
| Total Liabilities | $9.119B | $9.119B | $426.5K |
| YoY Change | 2138066.83% | 52.17% | |
| SHAREHOLDERS EQUITY | |||
| Retained Earnings | $2.349B | -$39.00K | |
| YoY Change | -6023998.77% | ||
| Common Stock | $23.85K | ||
| YoY Change | |||
| Preferred Stock | |||
| YoY Change | |||
| Treasury Stock (at cost) | |||
| YoY Change | |||
| Treasury Stock Shares | |||
| Shareholders Equity | $5.000M | $2.374B | -$14.00K |
| YoY Change | |||
| Total Liabilities & Shareholders Equity | $11.49B | $11.49B | $412.5K |
| YoY Change | 2786237.74% | 72.73% |
Cashflow Statement
| Concept | 2020 Q4 | 2020 | 2019 Q4 |
|---|---|---|---|
| OPERATING ACTIVITIES | |||
| Net Income | $1.372B | -$5.807M | $148.9M |
| YoY Change | 821.28% | -101.4% | |
| Depreciation, Depletion And Amortization | $236.7M | $570.4M | $55.60M |
| YoY Change | 325.63% | 350.52% | |
| Cash From Operating Activities | -$1.334B | $56.41M | -$1.382B |
| YoY Change | -3.5% | -101.61% | |
| INVESTING ACTIVITIES | |||
| Capital Expenditures | -$53.59M | $57.29M | -$1.700M |
| YoY Change | 3052.24% | 241.51% | |
| Acquisitions | |||
| YoY Change | |||
| Other Investing Activities | $71.37M | $289.2M | $23.20M |
| YoY Change | 207.63% | -51.33% | |
| Cash From Investing Activities | $17.78M | $231.9M | $21.50M |
| YoY Change | -17.29% | -59.84% | |
| FINANCING ACTIVITIES | |||
| Cash Dividend Paid | $0.00 | ||
| YoY Change | |||
| Common Stock Issuance & Retirement, Net | $0.00 | ||
| YoY Change | |||
| Debt Paid & Issued, Net | |||
| YoY Change | |||
| Cash From Financing Activities | 1.784B | $802.3M | 1.243B |
| YoY Change | 43.52% | -73.35% | |
| NET CHANGE | |||
| Cash From Operating Activities | -1.334B | $56.41M | -1.382B |
| Cash From Investing Activities | 17.78M | $231.9M | 21.50M |
| Cash From Financing Activities | 1.784B | $802.3M | 1.243B |
| Net Change In Cash | 468.1M | $1.091B | -117.6M |
| YoY Change | -498.01% | 1096.18% | |
| FREE CASH FLOW | |||
| Cash From Operating Activities | -$1.334B | $56.41M | -$1.382B |
| Capital Expenditures | -$53.59M | $57.29M | -$1.700M |
| Free Cash Flow | -$1.280B | -$876.0K | -$1.380B |
| YoY Change | -7.27% | -99.98% |
Facts In Submission
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<div style="align:left;"> <table border="0" cellpadding="0" cellspacing="0" style="border-collapse:collapse; width:100%;"> <tr> <td style="width:3.85%;white-space:nowrap" valign="top"> <p style="margin-bottom:0pt;margin-top:12pt;font-weight:bold;font-family:Times New Roman;font-size:10pt;font-style:normal;text-transform:none;font-variant: normal;"><span style="font-weight:bold;font-family:Times New Roman;font-size:10pt;font-style:normal;text-transform:none;font-variant: normal;">1.</span></p></td> <td valign="top"> <p style="margin-bottom:0pt;margin-top:12pt;font-weight:bold;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:10pt;">Organization and Business Operations</p></td></tr></table></div> <p style="margin-bottom:0pt;margin-top:12pt;text-indent:0%;;font-style:italic;font-family:Times New Roman;font-size:10pt;font-weight:normal;text-transform:none;font-variant: normal;">Organization and General</p> <p style="margin-bottom:0pt;margin-top:12pt;text-indent:7.69%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">UWM Holdings Corporation (f/k/a Gores Holdings IV, Inc.) (the “Company”) was incorporated in Delaware on June 12, 2019. The Company was formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar Business Combination with one or more businesses. The Company had neither engaged in any operations nor generated any revenue <span style="Background-color:#FFFFFF;color:#000000;">prior to the completion of the Business Combination (as defined below)</span>. The Company’s Sponsor is Gores Sponsor IV, LLC, a Delaware limited liability company (the “Sponsor”). The Company has selected December 31 as its fiscal year-end.</p> <p style="margin-bottom:0pt;margin-top:12pt;text-indent:7.69%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">At December 31, 2020, the Company had not commenced any operations. All activity for the period from June 12, 2019 (inception) through December 31, 2019 relates to the Company’s formation and initial public offering (“Public Offering”) described below. The Company completed the Public Offering on January 28, 2020. Subsequent to the Public Offering, the Company has generated non-operating income in the form of interest income on cash and cash equivalents from the proceeds derived from the Public Offering and the sale of the Private Placement Warrants (as defined below) held in the Trust Account (as defined below).</p> <p style="margin-top:12pt;margin-bottom:12pt;text-indent:0%;font-style:italic;font-family:Times New Roman;font-size:10pt;font-weight:normal;text-transform:none;font-variant: normal;">United Wholesale Mortgage Business Combination</p> <p style="margin-bottom:0pt;margin-top:12pt;text-indent:7.69%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">On September 22, 2020, the Company entered into a Business Combination Agreement (the “Business Combination Agreement”), by and among the Company, SFS Holding Corp., a Michigan corporation (“SFS Corp.”), United Wholesale Mortgage, LLC (f/k/a United Shore Financial Services, LLC, d/b/a United Wholesale Mortgage), a Michigan limited liability company and a wholly-owned subsidiary of SFS Corp. (“UWM”), and UWM Holdings, LLC, a newly formed Delaware limited liability company and a wholly-owned subsidiary of SFS Corp. (“UWM LLC” and, together with SFS Corp. and UWM, the “UWM Entities.”). The transactions contemplated by the Business Combination Agreement will constitute a “Business Combination” within the meaning of the Company’s Amended and Restated Certificate of Incorporation. Such transactions are hereinafter referred to as the “Business Combination.” The Business Combination with the UWM Entities closed on January 21, 2021.</p> <p style="margin-bottom:0pt;margin-top:12pt;text-indent:0%;;font-style:italic;font-family:Times New Roman;font-size:10pt;font-weight:normal;text-transform:none;font-variant: normal;">Financing</p> <p style="margin-bottom:0pt;margin-top:12pt;text-indent:7.69%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Upon the closing of the Public Offering and the sale of the Private Placement Warrants, an aggregate of $425,000,000 was placed in a Trust Account with Continental Stock Transfer & Trust Company (the “Trust Account”) acting as Trustee.</p> <p style="margin-bottom:0pt;margin-top:12pt;text-indent:0%;font-style:italic;font-family:Times New Roman;font-size:10pt;font-weight:normal;text-transform:none;font-variant: normal;">Trust Account</p> <p style="margin-bottom:0pt;margin-top:12pt;text-indent:7.69%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Prior to the Business Combination, funds held in the Trust Account can be invested only in U.S. government treasury bills with a maturity of one hundred and eighty-five (185) days or less or in money market funds meeting certain conditions under Rule 2a 7 under the Investment Company Act of 1940, as amended, that invest only in direct U.S. government obligations. As of December 31, 2020, the Trust Account consisted of treasury bills.</p> <p style="margin-bottom:0pt;margin-top:12pt;text-indent:7.69%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">As of December 31, 2020, the Company’s amended and restated certificate of incorporation provides that, other than the withdrawal of interest to fund our working capital requirements plus additional amounts released to us to fund our regulatory compliance requirements and other costs related thereto, subject to an annual limit of $1,100,000 for a maximum 24 months and/or additional amounts necessary to pay franchise and income taxes, if any, none of the funds held in trust will be released until the earliest of: (i) the completion of the Business </p> <p style="margin-bottom:0pt;margin-top:12pt;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><span style="font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Combination; or (ii) the redemption of any public shares of common stock properly tendered in connection with a stockholder vote to amend the Company’s amended and restated certificate of incorporation to modify the substance or timing of the Company’s obligation to redeem </span><span style="font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">100</span><span style="font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">% of such public shares of common stock if the Company does not complete the Business Combination within </span><span style="font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">24 months</span><span style="font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> from the IPO Closing Date; or (iii) the redemption of </span><span style="font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">100</span><span style="font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">% of the public shares of common stock if the Company is unable to complete a Business Combination within </span><span style="font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">24 months</span><span style="font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> from the IPO Closing Date, subject to the requirements of law and stock exchange rules.</span></p> <p style="margin-bottom:0pt;margin-top:12pt;text-indent:0%;;font-style:italic;font-family:Times New Roman;font-size:10pt;font-weight:normal;text-transform:none;font-variant: normal;">Business combination</p> <p style="margin-bottom:0pt;margin-top:12pt;text-indent:7.69%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The Company’s management had broad discretion with respect to the specific application of the net proceeds of the Public Offering, although substantially all of the net proceeds of the Public Offering were intended to be generally applied toward consummating a Business Combination. The Business Combination was required to be with one or more target businesses that together have an aggregate fair market value of at least 80% of the assets held in the Trust Account (less any deferred underwriting commissions and taxes payable on interest income earned) at the time of the Company signing a definitive agreement in connection with the Business Combination. </p> <p style="margin-bottom:0pt;margin-top:12pt;text-indent:7.69%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The Company had 24 months from the IPO Closing Date to complete its Business Combination. If the Company did not complete a Business Combination within this period of time, it was required to (i) cease all operations except for the purposes of winding up; (ii) as promptly as reasonably possible, but not more than ten business days thereafter, redeem the public shares of Common Stock for a per share pro rata portion of the Trust Account, including interest income, but less taxes payable (less up to $100,000 of such net interest income to pay dissolution expenses) and (iii) as promptly as possible following such redemption, dissolve and liquidate the balance of the Company’s net assets to its remaining stockholders, as part of its plan of dissolution and liquidation. The Sponsor and the Company’s officers and directors have entered into a letter agreement with the Company, pursuant to which they waived their rights to participate in any redemption with respect to their Founder Shares (as defined below); however, if the Sponsor or any of the Company’s officers, directors or affiliates acquire public shares of Common Stock, they will be entitled to a pro rata share of the Trust Account in the event the Company did not complete a Business Combination within the required time period.</p> <p style="margin-bottom:0pt;margin-top:12pt;text-indent:7.69%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">In the event of such distribution, it was possible that the per share value of the residual assets remaining available for distribution (including Trust Account assets) would be less than the initial public offering price per Unit in the Public Offering.</p> <p style="margin-bottom:0pt;margin-top:12pt;text-indent:7.69%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The Company, after signing a definitive agreement for a Business Combination, was required to either (i) seek stockholder approval of the Business Combination at a meeting called for such purpose in connection with which stockholders may seek to redeem their shares, regardless of whether they vote for or against the Business Combination, for cash equal to their pro rata share of the aggregate amount then on deposit in the Trust Account as of two business days prior to the consummation of the Business Combination, including interest income but less taxes payable, or (ii) provide stockholders with the opportunity to sell their shares to the Company by means of a tender offer (and thereby avoid the need for a stockholder vote) for an amount in cash equal to their pro rata share of the aggregate amount then on deposit in the Trust Account as of two business days prior to the consummation of the Business Combination, including interest income but less taxes payable. </p> <p style="margin-bottom:0pt;margin-top:12pt;text-indent:7.69%;color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><span style="Background-color:#FFFFFF;">On January 20, 2021, the Company held a special meeting of the Company’s stockholders (the “Special Meeting”), held in lieu of the 2021 annual meeting of the Company’s stockholders, at which stockholders representing a majority of the outstanding shares of common stock approved the UWM Business Combination. The actual redemptions of common stock by Company stockholders in conjunction with the stockholder vote was 20,795 shares.</span></p> <p style="margin-bottom:0pt;margin-top:12pt;text-indent:0%;font-style:italic;font-family:Times New Roman;font-size:10pt;font-weight:normal;text-transform:none;font-variant: normal;">Emerging Growth Company</p> <p style="margin-bottom:0pt;margin-top:12pt;text-indent:7.69%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Section 102(b)(1) of the JOBS Act exempts emerging growth companies from being required to comply with new or revised financial accounting standards until private companies (that is, those that have not had a Securities Act registration statement declared effective or do not have a class of securities registered under the Securities Exchange Act of 1934, as amended (the “Exchange Act”)) are required to comply with the new or revised financial accounting standards. The JOBS Act provides that a company can elect to opt out of the extended </p> <p style="margin-bottom:0pt;margin-top:12pt;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><span style="font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">transition period and comply with the requirements that apply to non-emerging growth companies but any such election to opt out is irrevocable. The Company has elected not to opt out of such extended transition period which means that when a standard is issued or revised and it has different application dates for public or private companies, the Company, as an emerging growth company, can adopt the new or revised standard at the time private companies adopt the new or revised standard</span><span style="font-size:8.5pt;font-family:TimesNewRomanPSMT;">.</span></p> | |
| CY2020 | dei |
Entity Incorporation Date Of Incorporation
EntityIncorporationDateOfIncorporation
|
2019-06-12 | |
| CY2020Q1 | us-gaap |
Assets Held In Trust
AssetsHeldInTrust
|
425000000 | |
| CY2020 | uwmc |
Regulatory Withdrawal Of Interest From Trust Account Annual Limit
RegulatoryWithdrawalOfInterestFromTrustAccountAnnualLimit
|
1100000 | |
| CY2020 | uwmc |
Regulatory Withdrawal Of Interest From Trust Account Maximum Period
RegulatoryWithdrawalOfInterestFromTrustAccountMaximumPeriod
|
P24M | |
| CY2020Q4 | uwmc |
Percentage Of Redemption If Business Combination Not Completed
PercentageOfRedemptionIfBusinessCombinationNotCompleted
|
1 | |
| CY2020Q4 | uwmc |
Percentage Of Redemption If Business Combination Not Completed
PercentageOfRedemptionIfBusinessCombinationNotCompleted
|
1 | |
| CY2020 | uwmc |
Dissolution Expenses Maximum Allowed
DissolutionExpensesMaximumAllowed
|
100000 | |
| CY2019Q4 | us-gaap |
Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
|
9617 | |
| CY2020 | us-gaap |
Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
|
112364 | |
| CY2020 | us-gaap |
Dilutive Securities
DilutiveSecurities
|
0 | |
| us-gaap |
Dilutive Securities
DilutiveSecurities
|
0 | ||
| CY2020 | us-gaap |
Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
|
<p style="margin-bottom:0pt;margin-top:12pt;text-indent:0%;;font-style:italic;font-family:Times New Roman;font-size:10pt;font-weight:normal;text-transform:none;font-variant: normal;">Concentration of Credit Risk</p> <p style="margin-bottom:0pt;margin-top:12pt;text-indent:7.69%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Financial instruments that potentially subject the Company to concentrations of credit risk consist of cash accounts in a financial institution as well as the Trust Account, which at times, may exceed the Federal depository insurance coverage of $250,000. The Company has not experienced losses on these accounts.</p> | |
| CY2020Q4 | us-gaap |
Cash Fdic Insured Amount
CashFDICInsuredAmount
|
250000 | |
| CY2019Q4 | us-gaap |
Deferred Offering Costs
DeferredOfferingCosts
|
411374 | |
| CY2020Q4 | uwmc |
Accrued Offering Costs
AccruedOfferingCosts
|
14875000 | |
| CY2020 | us-gaap |
Use Of Estimates
UseOfEstimates
|
<p style="margin-bottom:0pt;margin-top:12pt;text-indent:0%;;font-style:italic;font-family:Times New Roman;font-size:10pt;font-weight:normal;text-transform:none;font-variant: normal;">Use of Estimates</p> <p style="margin-bottom:0pt;margin-top:12pt;text-indent:7.69%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The preparation of financial statements in conformity with U.S. GAAP requires the Company’s management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.</p> | |
| CY2019Q4 | us-gaap |
Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
|
0 | |
| CY2020Q4 | us-gaap |
Assets Held In Trust Noncurrent
AssetsHeldInTrustNoncurrent
|
425331306 | |
| CY2020Q4 | uwmc |
Percentage Of Redemption If Business Combination Not Completed
PercentageOfRedemptionIfBusinessCombinationNotCompleted
|
1 | |
| CY2020Q4 | uwmc |
Percentage Of Redemption If Business Combination Not Completed
PercentageOfRedemptionIfBusinessCombinationNotCompleted
|
1 | |
| CY2020Q1 | us-gaap |
Proceeds From Issuance Initial Public Offering
ProceedsFromIssuanceInitialPublicOffering
|
425000000 | |
| CY2020Q1 | uwmc |
Expected Payment Of Deferred Underwriting Discount
ExpectedPaymentOfDeferredUnderwritingDiscount
|
14875000 | |
| CY2020 | us-gaap |
Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
|
-1202524 | |
| us-gaap |
Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
|
-8191 | ||
| CY2020 | uwmc |
Income Tax Reconciliation Capitalized Transaction Expenses
IncomeTaxReconciliationCapitalizedTransactionExpenses
|
1209597 | |
| CY2020 | us-gaap |
Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
|
-38435 | |
| us-gaap |
Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
|
-1426 | ||
| CY2020 | us-gaap |
Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
|
112364 | |
| us-gaap |
Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
|
9617 | ||
| CY2020 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
81002 | |
| CY2020 | us-gaap |
Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
|
81002 | |
| CY2020 | us-gaap |
Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
|
0 | |
| CY2020 | us-gaap |
Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
|
81002 | |
| CY2020 | us-gaap |
Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
|
0 | |
| CY2020 | us-gaap |
Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
|
0 | |
| CY2020 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
81002 | |
| CY2020Q4 | us-gaap |
Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Accrued Liabilities
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsAccruedLiabilities
|
97558 | |
| CY2019Q4 | us-gaap |
Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Accrued Liabilities
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsAccruedLiabilities
|
1437 | |
| CY2020Q4 | us-gaap |
Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
|
25390 | |
| CY2019Q4 | us-gaap |
Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
|
8180 | |
| CY2020Q4 | us-gaap |
Deferred Tax Assets Gross
DeferredTaxAssetsGross
|
122948 | |
| CY2019Q4 | us-gaap |
Deferred Tax Assets Gross
DeferredTaxAssetsGross
|
9617 | |
| CY2020Q4 | us-gaap |
Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
|
121981 | |
| CY2019Q4 | us-gaap |
Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
|
9617 | |
| CY2020Q4 | us-gaap |
Deferred Tax Assets Net
DeferredTaxAssetsNet
|
967 | |
| CY2020Q4 | uwmc |
Deferred Tax Liabilities Accrued Income
DeferredTaxLiabilitiesAccruedIncome
|
967 | |
| CY2020Q4 | us-gaap |
Deferred Income Tax Liabilities
DeferredIncomeTaxLiabilities
|
967 | |
| CY2020Q4 | us-gaap |
Deferred Tax Assets Operating Loss Carryforwards State And Local
DeferredTaxAssetsOperatingLossCarryforwardsStateAndLocal
|
25390 | |
| CY2020Q4 | us-gaap |
Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
|
121981 | |
| CY2020Q4 | us-gaap |
Unrecognized Tax Benefits
UnrecognizedTaxBenefits
|
0 | |
| CY2020Q4 | us-gaap |
Common Stock Shares Authorized
CommonStockSharesAuthorized
|
220000000 | |
| CY2020Q4 | uwmc |
Number Of Votes For Each Share
NumberOfVotesForEachShare
|
1 | |
| CY2020Q4 | us-gaap |
Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
|
1000000 | |
| CY2020Q4 | us-gaap |
Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
|
0.0001 | |
| CY2020Q4 | us-gaap |
Preferred Stock Shares Issued
PreferredStockSharesIssued
|
0 | |
| CY2020Q4 | us-gaap |
Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
|
0 | |
| CY2020Q4 | us-gaap |
Deferred Compensation Liability Classified Noncurrent
DeferredCompensationLiabilityClassifiedNoncurrent
|
14875000 | |
| CY2020 | uwmc |
Percentage Of Deferred Underwriting Discount
PercentageOfDeferredUnderwritingDiscount
|
0.0350 |
