Uber Technologies

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UBER TECHNOLOGIES, INC. CONSOLIDATED STATEMENTS OF CASH FLOWS (In millions) Year Ended December 31, 2020 2021 2021 Cash flows from operating activities Net loss including non-controlling interests $ (6,788) $ (570) $ (9,138) Adjustments to reconcile net loss to net cash provided by (used in) operating activities: Depreciation and amortization 575 902 947 Bad debt expense 76 109 114 Stock-based compensation 827 1,168 1,793 Gain from sale of investments (413 Gain on business divestitures, net (204) (1,684) (14) Deferred income taxes (266) 692) (441) Impairment of debt and equity securities 1,690 Impairments of goodwill, long-lived assets and other assets 404 116 28 Impairment of equity method investment 182 Loss (income) from equity method investments, net 34 37 (107) Unrealized (gain) loss on debt and equity securities, net 125 (1,142) 7,045 Revaluation of MLU B. V. call option (191) Unrealized foreign currency transactions 48 38 96 Other 2 (7) Change in assets and liabilities, net of impact of business acquisitions and disposals: Accounts receivable 142 (597) 542) Prepaid expenses and other assets 94 (236) (196) Collateral held by insurer 339 860 Operating lease right-of-use assets 341 165 193 Accounts payable (133) (133) Accrued insurance reserves (3) 516 736 Accrued expenses and other liabilities 83 1,068 492 Operating lease liabilities (131] (184) (215) Net cash provided by (used in) operating activities (2,745) 445) 642 Cash flows from investing activities Purchases of property and equipment (616) (298) (252) Purchases of non-marketable equity securities (10) (982] (14) Purchases of marketable securities (2,101) (1,113) (1,708) Proceeds from sale of non-marketable equity securities 500 Proceeds from maturities and sales of marketable securities 1,360 2,291 376 Proceeds from sale of equity method investments and grant of related call option 1,000 Proceeds from business divestiture, net of cash divested 26 Acquisition of businesses, net of cash acquired (1,471) (2,314) (59) Return of capital from equity method investec 91 Purchase of notes receivables (185) (297) Other investing activities 63 12 (6) Net cash used in investing activities 2,869) (1,201) 1,637) Cash flows from financing activities Proceeds from issuance and sale of subsidiary stock units 247 255 Proceeds from the issuance of common stock under the Employee Stock Purchase Plan 125 107 92 Issuance of term loan and notes, net of issuance costs 2,628 1,484UBER TECHNOLOGIES, INC. CONSOLIDATED BALANCE SHEETS (In millions, except share amounts which are reflected in thousands, and per share amounts) As of December 31, 2021 As of December 31, 2022 Assets Cash and cash equivalents $ 4,295 $ 4,208 Short-term investments 103 Restricted cash and cash equivalents 631 680 Accounts receivable, net of allowance of $51 and $80, respectively 2,439 2,779 Prepaid expenses and other current assets 1,454 1,479 Total current assets 8,819 9,249 Restricted cash and cash equivalents 2,879 1,789 Restricted investments 1,614 Investments 11,806 4,401 Equity method investments 800 870 Property and equipment, net 1,853 2,082 Operating lease right-of-use assets 1,388 1,449 Intangible assets, net 2,412 1,874 Goodwill 8,420 8,263 Other assets 397 518 Total assets 38,774 $ 32,109 Liabilities, redeemable non-controlling interests and equity Accounts payable 860 $ 728 Short-term insurance reserves 1,442 1,692 Operating lease liabilities, current 185 201 Accrued and other current liabilities 5.537 6,232 Total current liabilities 9,024 8,853 Long-term insurance reserves 2,546 3,028 Long-term debt, net of current portion 9.276 9,265 Operating lease liabilities, non-current 1,644 1,673 Other long-term liabilities 935 786 Total liabilities 23,425 23,605 Commitments and contingencies (Note 14) Redeemable non-controlling interests 204 430 Equity Common stock, $0.00001 par value, 5,000,000 shares authorized for both periods, 1,949,316 and 2,005,486 shares issued and outstanding, respectively Additional paid-in capital 38,608 40,550 Accumulated other comprehensive loss (524) (443) Accumulated deficit (23,626) (32,767) Total Uber Technologies, Inc. stockholders' equity 14,458 7,340 Non-redeemable non-controlling interests 687 734 Total equity 15,145 8,074 Total liabilities, redeemable non-controlling interests and equity 38,774 $ 32, 109 The accompanying notes are an integral part of these consolidated financial statements.UBER TECHNOLOGIES, INC. CONSOLIDATED STAT (In millinns) Principal repayment on term loan and notes Principal repayment on Careem Notes Principal payments on finance leases Other financing activities Net cash provided by financing activities Effect of exchange rate changes on cash and cash equivalents, and restricted cash and cash equivalents Met increase (decrease) in cash and cash equivalents, and restricted cash and cash equivalents Cash and cash equivalents, and restricted cash and cash equivalents Beginning of penod Reclassification from (to) assets held for sale during the period End of period, excluding cash classified within assets held for sale Supplemental disclosures of cash flow information Cash paid for: Interest, net of amount capitalized Income taxes, net of refunds MNon-cash investing and financing activities: Finance lease obligations Right-of-use assets obtained in exchange for lease obligations Commeon stock ssued in connection with acquisitions Ownership interest received in exchange for divestitures Issuance of Careem Notes including the holdback amount Conversion of convertible notes to common stock related to Careem MENTS OF CASH FLOWS Year Ended December 31, 2020 2021 2022 (527) 27 i (891) (307) (80) (224) (226) (184) 21 T4 168) 1,379 1,780 15 {92) (69} (148) 4,327) 65 (1,128) 12,067 7,391 7,805 (349) 349 5 7391 7805 6,677 3 412 8 49 3 513 82 87 175 196 184 349 202 273 329 3,498 1,868 171 1,018 = 1,634 - - o 232 The accompanying notes are an integral part of these consolidated financial statements. UBER TECHNOLOGIES, INC. CONSOLIDATED STATEMENTS OF OPERATIONS (In millions, except share amounts which are reflected in thousands, and per share amounts) Year Ended December 31. 2020 202 2022 Revenue $ 11,139 $ 17,455 $ 31,877 Costs and expenses Cost of revenue, exclusive of depreciation and amortization shown separately below 5,154 9,351 19,659 Operations and support 1,819 1,877 2,413 Sales and marketing 3,583 4,789 4,756 Research and development 2,205 2,054 2,798 General and administrative 2,656 2,316 3,136 Depreciation and amortization 575 902 947 Total costs and expenses 16,002 21,289 33,709 Loss from operations (4,863) (3,834) (1,832) Interest expense (458) (483) (565) Other income (expense), net (1,625) 3,292 (7,029) Loss before income taxes and income (loss) from equity method investments (6,946) (1,025) (9,426) Provision for (benefit from) income taxes (192) (492) (181) Income (loss) from equity method investments (34) (37) 107 Net loss including non-controlling interests (6,788) (570) (9,138) Less: net income (loss) attributable to non-controlling interests, net of tax (20) (74) 3 Net loss attributable to Uber Technologies, Inc. $ (6,768) $ (496) $ (9,141) Net loss per share attributable to Uber Technologies, Inc. common stockholders: Basic (3.86) $ (0 26) $ (4.64) Diluted (3.86) (0.29) (4.65) Weighted-average shares used to compute net loss per share attributable to common stockholders: Basic 1,752,960 1,892,546 1,972, 131 Diluted 1,752,960 1,895,519 1,974,928 The accompanying notes are an integral part of these consolidated financial statements