Convertible Preferred Stock (Tables)
 12 Months Ended
Dec. 31, 2020
Features of Convertible Preferred Stock [Abstract]  
Summary of Preferred Stock
During 2020 and 2019, the Corporation did not issue any additional shares of preferred stock.
As of each balance sheet date, preferred stock consisted of the following ($ in millions, except for share amounts):
 
As of December 31, 2020 and 2019, after recapitalization
 
   
Preferred
Stock
Authorized 
(1)
   
Preferred
Stock Issued
and
Outstanding 
(1)
   Carrying Value   
Liquidation
Preference
   
Common Stock Issuable
Upon Conversion
(1)
 
Series A Preferred stock
   10,907,993    10,907,993   $5.5   $5.5    10,907,993 
Series A-1 Preferred stock
   14,888,608    14,888,608    7.5    30.0    14,888,608 
Series B Preferred stock
   21,381,446    21,381,446    35.0    35.0    21,381,446 
Series C Preferred stock
   39,431,582    39,431,582    160.2    160.2    39,431,582 
Series D Preferred stock
   68,777,396    52,834,717    239.6    239.6    52,834,717 
   
 
 
   
 
 
   
 
 
   
 
 
   
 
 
 
    155,387,025    139,444,346    447.8    470.3    139,444,346 
   
 
 
   
 
 
   
 
 
   
 
 
   
 
 
 
 
(1)
 
Amounts in the above table have been adjusted to reflect the exchange of Legacy Clover’s common stock at an exchange ratio of approximately 2.0681 in January 2021 as a result of the application of reverse capitalization. See Note 3, “Reverse Capitalization,” for details.