UBER TECHNOLOGIES, INC, 10-Q filed on 8/6/2024
Quarterly Report
v3.24.2.u1
Cover Page - shares
 6 Months Ended
Jun. 30, 2024
Aug. 02, 2024
Cover [Abstract]    
Document Type 10-Q  
Document Quarterly Report true  
Document Period End Date Jun. 30, 2024  
Document Transition Report false  
Entity File Number 001-38902  
Entity Registrant Name UBER TECHNOLOGIES, INC.  
Entity Incorporation, State or Country Code DE  
Entity Tax Identification Number 45-2647441  
Entity Address, Address Line One 1725 3rd Street  
Entity Address, City or Town San Francisco  
Entity Address, State or Province CA  
Entity Address, Postal Zip Code 94158  
City Area Code 415  
Local Phone Number 612-8582  
Title of 12(b) Security Common Stock, par value $0.00001 per share  
Trading Symbol UBER  
Security Exchange Name NYSE  
Entity Current Reporting Status Yes  
Entity Interactive Data Current Yes  
Entity Filer Category Large Accelerated Filer  
Entity Small Business false  
Entity Emerging Growth Company false  
Entity Shell Company false  
Entity Common Stock, Shares Outstanding   2,100,937,229
Entity Central Index Key 0001543151  
Amendment Flag false  
Current Fiscal Year End Date --12-31  
Document Fiscal Year Focus 2024  
Document Fiscal Period Focus Q2  
v3.24.2.u1
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Millions
Jun. 30, 2024
Dec. 31, 2023
Current Assets    
Cash and cash equivalents $ 4,497 $ 4,680
Short-term investments 1,795 727
Restricted cash and cash equivalents 776 805
Accounts receivable, net of allowance of $91 and $82, respectively 3,783 3,404
Prepaid expenses and other current assets 1,632 1,681
Total current assets 12,483 11,297
Restricted cash and cash equivalents 2,608 1,519
Restricted investments 5,061 4,779
Investments 6,203 6,101
Equity method investments 342 353
Property and equipment, net 2,034 2,073
Operating lease right-of-use assets 1,181 1,241
Intangible assets, net 1,265 1,425
Goodwill 8,083 8,151
Other assets 2,254 1,760
Total assets 41,514 38,699
Current Liabilities    
Accounts payable 752 790
Short-term insurance reserves 2,387 2,016
Operating lease liabilities, current 198 190
Accrued and other current liabilities 6,981 6,458
Total current liabilities 10,318 9,454
Long-term insurance reserves 5,733 4,722
Long-term debt, net of current portion 9,454 9,459
Operating lease liabilities, non-current 1,492 1,550
Other long-term liabilities 734 832
Total liabilities 27,731 26,017
Commitments and contingencies (Note 12)
Redeemable non-controlling interests 631 654
Equity    
Common stock, $0.00001 par value, 5,000,000 shares authorized for both periods, 2,071,144 and 2,097,951 shares issued and outstanding, respectively 0 0
Additional paid-in capital 43,062 42,264
Accumulated other comprehensive loss (479) (421)
Accumulated deficit (30,233) (30,594)
Total Uber Technologies, Inc. stockholders' equity 12,350 11,249
Non-redeemable non-controlling interests 802 779
Total equity 13,152 12,028
Total liabilities, redeemable non-controlling interests and equity $ 41,514 $ 38,699
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CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($)
shares in Thousands, $ in Millions
Jun. 30, 2024
Dec. 31, 2023
Statement of Financial Position [Abstract]    
Accounts receivable, allowance $ 82 $ 91
Common stock, par value (in dollars per share) $ 0.00001 $ 0.00001
Common stock, authorized (in shares) 5,000,000 5,000,000
Common stock, issued (in shares) 2,097,951 2,071,144
Common Stock, outstanding (in shares) 2,097,951 2,071,144
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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Millions
 3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Income Statement [Abstract]        
Revenue $ 10,700 $ 9,230 $ 20,831 $ 18,053
Costs and expenses        
Cost of revenue, exclusive of depreciation and amortization shown separately below 6,488 5,515 12,656 10,774
Operations and support 682 664 1,367 1,304
Sales and marketing 1,115 1,218 2,032 2,480
Research and development 760 808 1,550 1,583
General and administrative 686 491 1,895 1,433
Depreciation and amortization 173 208 363 415
Total costs and expenses 9,904 8,904 19,863 17,989
Income from operations 796 326 968 64
Interest expense (139) (144) (263) (312)
Other income (expense), net 420 273 (258) 565
Income before income taxes and income (loss) from equity method investments 1,077 455 447 317
Provision for income taxes 57 65 86 120
Income (loss) from equity method investments (12) 4 (16) 40
Net income including non-controlling interests 1,008 394 345 237
Less: net loss attributable to non-controlling interests, net of tax (7) 0 (16) 0
Net income attributable to Uber Technologies, Inc. $ 1,015 $ 394 $ 361 $ 237
Net income per share attributable to Uber Technologies, Inc. common stockholders:        
Basic (in dollars per share) $ 0.49 $ 0.19 $ 0.17 $ 0.12
Diluted (in dollars per share) $ 0.47 $ 0.18 $ 0.15 $ 0.10
Weighted-average shares used to compute net income per share attributable to common stockholders:        
Basic (in shares) 2,092,180 2,026,813 2,085,324 2,018,233
Diluted (in shares) 2,150,019 2,079,265 2,151,647 2,066,260
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CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Statement of Comprehensive Income [Abstract]        
Net income including non-controlling interests $ 1,008 $ 394 $ 345 $ 237
Other comprehensive income (loss), net of tax:        
Change in foreign currency translation adjustment (41) 157 (49) 2
Change in unrealized loss on investments in available-for-sale debt securities (1) (2) (9) (2)
Other comprehensive income (loss), net of tax (42) 155 (58) 0
Comprehensive income including non-controlling interests 966 549 287 237
Less: comprehensive loss attributable to non-controlling interests (7) 0 (16) 0
Comprehensive income attributable to Uber Technologies, Inc. $ 973 $ 549 $ 303 $ 237
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CONDENSED CONSOLIDATED STATEMENTS OF REDEEMABLE NON-CONTROLLING INTERESTS AND EQUITY - USD ($)
shares in Thousands, $ in Millions
Total
Redeemable Non-Controlling Interests
Common Stock
Additional Paid-In Capital
Accumulated Other Comprehensive Income (Loss)
Accumulated Deficit
Non-Redeemable Non-Controlling Interests
Beginning Balance at Dec. 31, 2022   $ 430          
Redeemable Non-Controlling Interests              
Foreign currency translation adjustment $ (155)       $ (155)    
Net income (loss)   (11)          
Ending Balance at Mar. 31, 2023   419          
Beginning balance (in shares) at Dec. 31, 2022     2,005,486        
Beginning balance at Dec. 31, 2022 8,074   $ 0 $ 40,550 (443) $ (32,767) $ 734
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Exercise of stock options (in shares)     1,208        
Exercise of stock options 5     5      
Stock-based compensation 482     482      
Issuance of common stock for settlement of RSUs (in shares)     12,708        
Shares withheld related to net share settlement (in shares)     (208)        
Shares withheld related to net share settlement (7)     (7)      
Foreign currency translation adjustment (155)       (155)    
Net income (loss) (146)         (157) 11
Ending balance (in shares) at Mar. 31, 2023     2,019,194        
Ending balance at Mar. 31, 2023 8,253   $ 0 41,030 (598) (32,924) 745
Beginning Balance at Dec. 31, 2022   430          
Redeemable Non-Controlling Interests              
Foreign currency translation adjustment 2            
Ending Balance at Jun. 30, 2023   408          
Beginning balance (in shares) at Dec. 31, 2022     2,005,486        
Beginning balance at Dec. 31, 2022 8,074   $ 0 40,550 (443) (32,767) 734
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Unrealized gain (loss) on investments in available-for-sale debt securities, net of tax (2)            
Foreign currency translation adjustment 2            
Ending balance (in shares) at Jun. 30, 2023     2,038,892        
Ending balance at Jun. 30, 2023 9,420   $ 0 41,637 (443) (32,530) 756
Beginning Balance at Mar. 31, 2023   419          
Redeemable Non-Controlling Interests              
Foreign currency translation adjustment 157       157    
Net income (loss)   (11)          
Ending Balance at Jun. 30, 2023   408          
Beginning balance (in shares) at Mar. 31, 2023     2,019,194        
Beginning balance at Mar. 31, 2023 8,253   $ 0 41,030 (598) (32,924) 745
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Exercise of stock options (in shares)     1,859        
Exercise of stock options 10     10      
Stock-based compensation 515     515      
Issuance of common stock for settlement of RSUs (in shares)     14,096        
Issuance of common stock under the Employee Stock Purchase Plan (in shares)     4,078        
Issuance of common stock under the Employee Stock Purchase Plan 85     85      
Shares withheld related to net share settlement (in shares)     (76)        
Shares withheld related to net share settlement (3)     (3)      
Repurchase of common stock (in shares)     (259)        
Unrealized gain (loss) on investments in available-for-sale debt securities, net of tax (2)       (2)    
Foreign currency translation adjustment 157       157    
Net income (loss) 405         394 11
Ending balance (in shares) at Jun. 30, 2023     2,038,892        
Ending balance at Jun. 30, 2023 9,420   $ 0 41,637 (443) (32,530) 756
Beginning Balance at Dec. 31, 2023   654          
Redeemable Non-Controlling Interests              
Foreign currency translation adjustment $ (8) (2)     (8)    
Recognition of non-controlling interest upon capital investment   19          
Net income (loss)   (20)          
Ending Balance at Mar. 31, 2024   651          
Beginning balance (in shares) at Dec. 31, 2023 2,071,144   2,071,144        
Beginning balance at Dec. 31, 2023 $ 12,028   $ 0 42,264 (421) (30,594) 779
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Exercise of stock options (in shares)     2,421        
Exercise of stock options 18     18      
Stock-based compensation 493     493      
Issuance of common stock for settlement of RSUs (in shares)     13,160        
Shares withheld related to net share settlement (in shares)     (478)        
Shares withheld related to net share settlement (36)     (36)      
Unrealized gain (loss) on investments in available-for-sale debt securities, net of tax (8)       (8)    
Foreign currency translation adjustment (8) (2)     (8)    
Net income (loss) (643)         (654) 11
Other 4     4      
Ending balance (in shares) at Mar. 31, 2024     2,086,247        
Ending balance at Mar. 31, 2024 11,848   $ 0 42,743 (437) (31,248) 790
Beginning Balance at Dec. 31, 2023   654          
Redeemable Non-Controlling Interests              
Foreign currency translation adjustment $ (49)            
Ending Balance at Jun. 30, 2024   631          
Beginning balance (in shares) at Dec. 31, 2023 2,071,144   2,071,144        
Beginning balance at Dec. 31, 2023 $ 12,028   $ 0 42,264 (421) (30,594) 779
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Exercise of stock options (in shares) 5,206            
Unrealized gain (loss) on investments in available-for-sale debt securities, net of tax $ (9)            
Foreign currency translation adjustment $ (49)            
Ending balance (in shares) at Jun. 30, 2024 2,097,951   2,097,951        
Ending balance at Jun. 30, 2024 $ 13,152   $ 0 43,062 (479) (30,233) 802
Beginning Balance at Mar. 31, 2024   651          
Redeemable Non-Controlling Interests              
Foreign currency translation adjustment (41) (1)     (41)    
Net income (loss)   (19)          
Ending Balance at Jun. 30, 2024   631          
Beginning balance (in shares) at Mar. 31, 2024     2,086,247        
Beginning balance at Mar. 31, 2024 11,848   $ 0 42,743 (437) (31,248) 790
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Exercise of stock options (in shares)     2,760        
Exercise of stock options 73     73      
Exercise of restricted stock units (in shares)     469        
Stock-based compensation 470     470      
Issuance of common stock for settlement of RSUs (in shares)     10,488        
Issuance of common stock under the Employee Stock Purchase Plan (in shares)     2,893        
Issuance of common stock under the Employee Stock Purchase Plan 103     103      
Shares withheld related to net share settlement (in shares)     (68)        
Shares withheld related to net share settlement (5)     (5)      
Repurchase of common stock (in shares)     (4,838)        
Repurchase of common stock (326)     (326)      
Unrealized gain (loss) on investments in available-for-sale debt securities, net of tax (1)       (1)    
Foreign currency translation adjustment (41) $ (1)     (41)    
Net income (loss) 1,027         1,015 12
Other $ 4     4      
Ending balance (in shares) at Jun. 30, 2024 2,097,951   2,097,951        
Ending balance at Jun. 30, 2024 $ 13,152   $ 0 $ 43,062 $ (479) $ (30,233) $ 802
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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Cash flows from operating activities    
Net income including non-controlling interests $ 345 $ 237
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 375 415
Bad debt expense 35 44
Stock-based compensation 939 974
Deferred income taxes (23) 16
Loss (income) from equity method investments, net 16 (40)
Unrealized (gain) loss on debt and equity securities, net 388 (706)
Loss from sale of investment 0 74
Impairments of goodwill, long-lived assets and other assets 0 78
Unrealized foreign currency transactions 209 85
Other (138) 10
Change in assets and liabilities, net of impact of business acquisitions and disposals:    
Accounts receivable (584) 155
Prepaid expenses and other assets (430) (233)
Operating lease right-of-use assets 93 94
Accounts payable (24) (26)
Accrued insurance reserves 1,385 938
Accrued expenses and other liabilities 731 (229)
Operating lease liabilities (81) (90)
Net cash provided by operating activities 3,236 1,796
Cash flows from investing activities    
Purchases of property and equipment (156) (107)
Purchases of non-marketable equity securities (232) 0
Purchases of marketable securities (5,317) (2,207)
Proceeds from maturities and sales of marketable securities 3,851 1,627
Proceeds from sale of equity method investment 17 703
Other investing activities (81) (7)
Net cash provided by (used in) investing activities (1,918) 9
Cash flows from financing activities    
Issuance of term loans and notes, net of issuance costs 0 1,121
Principal repayment on term loan and notes (13) (1,144)
Principal payments on finance leases (77) (82)
Proceeds from the issuance of common stock under the Employee Stock Purchase Plan 103 85
Repurchases of common stock (325) 0
Other financing activities 21 (45)
Net cash used in financing activities (291) (65)
Effect of exchange rate changes on cash and cash equivalents, and restricted cash and cash equivalents (150) 43
Net increase in cash and cash equivalents, and restricted cash and cash equivalents 877 1,783
Cash and cash equivalents, and restricted cash and cash equivalents    
Beginning of period 7,004 6,677
End of period 7,881 8,460
Reconciliation of cash and cash equivalents, and restricted cash and cash equivalents to the condensed consolidated balance sheets    
Cash and cash equivalents 4,497 4,995
Restricted cash and cash equivalents-current 776 909
Restricted cash and cash equivalents-non-current 2,608 2,556
Total cash and cash equivalents, and restricted cash and cash equivalents 7,881 8,460
Cash paid for:    
Interest, net of amount capitalized 260 312
Income taxes, net of refunds 157 70
Non-cash investing and financing activities:    
Finance lease obligations 2 163
Right-of-use assets obtained in exchange for lease obligations $ 42 $ 30
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Description of Business and Summary of Significant Accounting Policies
 6 Months Ended
Jun. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Description of Business and Summary of Significant Accounting Policies
Note 1 – Description of Business and Summary of Significant Accounting Policies
Description of Business
Uber Technologies, Inc. (“Uber,” “we,” “our,” or “us”) was incorporated in Delaware in July 2010, and is headquartered in San Francisco, California. Uber is a technology platform that uses a massive network, leading technology, operational excellence and product expertise to power movement from point A to point B. Uber develops and operates proprietary technology applications supporting a variety of offerings on its platform (“platform(s)” or “Platform(s)”). Uber connects consumers (“Rider(s)”) with independent providers of ride services (“Mobility Driver(s)”) for ridesharing services, and connects Riders and other consumers (“Eaters”) with restaurants, grocers and other stores (collectively, “Merchants”) with delivery service providers (“Couriers”) for meal preparation, grocery and other delivery services. Riders and Eaters are collectively referred to as “end-user(s)” or “consumer(s).” Mobility Drivers and Couriers are collectively referred to as “Driver(s).” Uber also connects consumers with public transportation networks. Uber uses this same network, technology, operational excellence and product expertise to connect shippers (“Shipper(s)”) with carriers (“Carrier(s)”) in the freight industry. Uber is also developing technologies designed to provide new solutions to solve everyday problems.
Our technology is used around the world, principally in the United States (“U.S.”) and Canada, Latin America, Europe (excluding Russia), the Middle East, Africa, and Asia (excluding China and Southeast Asia).
Pending Acquisition of Foodpanda Taiwan
In May 2024, we entered into a definitive agreement with Delivery Hero SE (“Delivery Hero”) to acquire 100% ownership interest in Delivery Hero’s Foodpanda delivery business in Taiwan (“Foodpanda Taiwan”) for approximately $950 million in cash, on a cash and debt free basis, subject to certain adjustments. The transaction is subject to regulatory approval and other customary closing conditions, and is expected to close in the first half of 2025. In connection with the pending acquisition, we purchased ordinary shares of Delivery Hero. Refer to Note 3 – Investments and Fair Value Measurement for further details on the Delivery Hero investment.
Basis of Presentation
The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States (“GAAP”) and applicable rules and regulations of the Securities and Exchange Commission (“SEC”) regarding interim financial reporting. The condensed consolidated balance sheet as of December 31, 2023 included herein was derived from the audited consolidated financial statements as of that date. Certain information and note disclosures normally included in the financial statements prepared in accordance with GAAP have been condensed or omitted pursuant to such rules and regulations. As such, the information included in this Quarterly Report on Form 10-Q should be read in conjunction with the audited consolidated financial statements and the related notes thereto as of and for the year ended December 31, 2023, included in our Annual Report on Form 10-K. The results for the interim periods are not necessarily indicative of results for the full year.
In the opinion of management, these financial statements include all adjustments, which are of a normal recurring nature, necessary for a fair statement of the financial position, results of operations, comprehensive income (loss), cash flows and the change in equity for the periods presented.
There have been no changes to our significant accounting policies described in our Annual Report on Form 10-K for the year ended December 31, 2023 filed with the SEC on February 15, 2024 that have had a material impact on our condensed consolidated financial statements and related notes.
Basis of Consolidation
Our condensed consolidated financial statements include the accounts of Uber Technologies, Inc. and entities consolidated under the variable interest and voting models. All intercompany balances and transactions have been eliminated. Refer to Note 13 – Variable Interest Entities for further information.
Use of Estimates
The preparation of our unaudited condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions, which affect the reported amounts in the financial statements and accompanying notes. Estimates are based on historical experience, where applicable, and other assumptions which management believes are reasonable under the circumstances. On an ongoing basis, management evaluates estimates, including, but not limited to: fair values of investments and other financial instruments (including the measurement of credit or impairment losses); useful lives of amortizable long-lived assets; fair value of acquired intangible assets and related impairment assessments; impairment of goodwill; stock-based compensation; income taxes and non-income tax reserves; certain deferred tax assets and tax liabilities; insurance reserves; and other contingent liabilities. These estimates are inherently subject to judgment and actual results could differ from those estimates.
Recently Adopted Accounting Pronouncements
In June 2022, the FASB issued ASU 2022-03, “Fair Value Measurement (Topic 820): Fair Value Measurement of Equity Securities Subject to Contractual Sale Restrictions,” which clarifies that contractual sale restrictions are not considered in measuring fair value of equity securities and requires additional disclosures for equity securities subject to contractual sale restrictions. The standard is effective for public companies for fiscal years beginning after December 15, 2023. We adopted the ASU on January 1, 2024. The additional required disclosures did not have a material impact on our condensed consolidated financial statements.
Recently Issued Accounting Pronouncements Not Yet Adopted
In November 2023, the FASB issued ASU 2023-07, “Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures,” which will add required disclosures of significant expenses for each reportable segment, as well as certain other disclosures to help investors understand how the chief operating decision maker (“CODM”) evaluates segment expenses and operating results. The new standard will also allow disclosure of multiple measures of segment profitability, if those measures are used to allocate resources and assess performance. The amendments will be effective for public companies for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024. Early adoption is permitted. We are currently evaluating the impact of this accounting standard update on our consolidated financial statement disclosures.
In December 2023, the FASB issued ASU 2023-09, “Income Taxes (Topic 740): Improvements to Income Tax Disclosures,” which requires disaggregated information about a reporting entity’s effective tax rate reconciliation as well as information on income taxes paid. The standard is intended to benefit investors by providing more detailed income tax disclosures that would be useful in making capital allocation decisions. The standard will be effective for public companies for fiscal years beginning after December 15, 2024. Early adoption is permitted. We are currently evaluating the impact of this accounting standard update on our consolidated financial statement disclosures.
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Revenue
 6 Months Ended
Jun. 30, 2024
Revenue from Contract with Customer [Abstract]  
Revenue
Note 2 – Revenue
The following tables present our revenues disaggregated by offering and geographical region. Revenue by geographical region is based on where the transaction occurred. This level of disaggregation takes into consideration how the nature, amount, timing, and uncertainty of revenue and cash flows are affected by economic factors (in millions):
Three Months Ended June 30,Six Months Ended June 30,
2023202420232024
Mobility revenue (1)
$4,894 $6,134 $9,224 $11,767 
Delivery revenue (1)
3,057 3,293 6,150 6,507 
Freight revenue1,279 1,273 2,679 2,557 
Total revenue$9,230 $10,700 $18,053 $20,831 
(1) We offer subscription memberships to end-users including Uber One, Uber Pass, Rides Pass, and Eats Pass (“Subscription”). We recognize Subscription fees ratably over the life of the pass. We allocate Subscription fees earned to Mobility and Delivery revenue on a proportional basis, based on usage for each offering during the respective period.
Three Months Ended June 30,Six Months Ended June 30,
2023202420232024
United States and Canada ("US&CAN")$5,129 $5,825 $10,261 $11,298 
Latin America ("LatAm")627 679 1,192 1,389 
Europe, Middle East and Africa ("EMEA")2,412 2,987 4,506 5,743 
Asia Pacific ("APAC")1,062 1,209 2,094 2,401 
Total revenue$9,230 $10,700 $18,053 $20,831 
Revenue
Mobility Revenue
We derive revenue from fees paid by Mobility Drivers for the use of our platform(s) and related services to facilitate and complete Mobility services and, in certain markets, revenue from fees paid by end-users for connection services obtained via the platform. Mobility revenue also includes immaterial revenue streams such as our financial partnerships products.
Additionally, in certain markets where we are responsible for Mobility services, fees charged to end-users are also included in revenue, while payments to Drivers in exchange for Mobility services are recognized in cost of revenue, exclusive of depreciation and amortization.
Delivery Revenue
We derive revenue for Delivery from Merchants’ and Couriers’ use of the Delivery platform and related service to facilitate and complete Delivery transactions and, in certain markets, revenue from fees paid by end-users for connection services obtained via the platform.
Additionally, in certain markets where we are responsible for Delivery services, delivery fees charged to end-users are also included in revenue, while payments to Couriers in exchange for Delivery services are recognized in cost of revenue, exclusive of depreciation and amortization. Delivery also includes advertising revenue from sponsored listing fees paid by Merchants and brands in exchange for advertising services.
Freight Revenue
Freight revenue consists of revenue from freight transportation services provided to shippers.
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Investments and Fair Value Measurement
 6 Months Ended
Jun. 30, 2024
Fair Value Disclosures [Abstract]  
Investments and Fair Value Measurement
Note 3 – Investments and Fair Value Measurement
Investments
Our investments on the condensed consolidated balance sheets consisted of the following (in millions):
As of
December 31, 2023June 30, 2024
Classified as short-term investments:
Marketable debt securities (1):
U.S. government and agency securities$253 $437 
Commercial paper288 581 
Corporate bonds181 770 
Certificates of deposit5 7 
Short-term investments$727 $1,795 
Classified as restricted investments:
Marketable debt securities (1):
U.S. government and agency securities$4,426 $4,783 
Commercial paper17 15 
Corporate bonds77 165 
Certificates of deposit259 98 
Restricted investments$4,779 $5,061 
Classified as investments:
Non-marketable equity securities:
Didi$2,245 $2,354 
Other (2)
329 575 
Marketable equity securities:
Grab1,806 1,902 
Aurora (3)
1,425 903 
Other170 342 
Note receivable from a related party (2)
126 127 
Investments$6,101 $6,203 
(1) Excluding marketable debt securities classified as cash equivalents and restricted cash equivalents.
(2) These balances include certain investments recorded at fair value with changes in fair value recorded in earnings due to the election of the fair value option of accounting for financial instruments.
(3) In connection with Aurora’s November 2021 initial public offering, we are subject to a lock-up agreement in which our ability to sell or transfer our shares in Aurora is partially restricted until November 2025.
Assets and Liabilities Measured at Fair Value on a Recurring Basis
The following table presents our financial assets and liabilities measured at fair value on a recurring basis based on the three-tier fair value hierarchy (in millions):
As of December 31, 2023As of June 30, 2024
Level 1Level 2Level 3TotalLevel 1Level 2Level 3Total
Financial Assets
Money market funds$1,153 $— $— $1,153 $1,059 $— $— $1,059 
U.S. government and agency securities— 4,840 — 4,840 — 5,381 — 5,381 
Commercial paper— 351 — 351 — 789 — 789 
Corporate bonds— 263 — 263 — 940 — 940 
Certificates of deposit— 266 — 266 — 104 — 104 
Non-marketable equity securities— — — — — — 3 3 
Marketable equity securities3,401 — — 3,401 3,147 — — 3,147 
Note receivable from a related party— — 126 126 — — 127 127 
Total financial assets$4,554 $5,720 $126 $10,400 $4,206 $7,214 $130 $11,550 
During the six months ended June 30, 2024, we did not make any transfers into or out of Level 3 of the fair value hierarchy.
Debt Securities
As of December 31, 2023 and June 30, 2024, the amortized cost of our debt securities measured at fair value on a recurring basis approximates fair value. We did not record any material unrealized gains or losses, or credit losses as of December 31, 2023 and June 30, 2024. The weighted-average remaining maturity of our debt securities was less than one year as of June 30, 2024.
Derivatives Not Designated as Hedging Instruments
In the second quarter of 2024, we entered into financial derivative instruments, consisting of foreign currency contracts to mitigate the foreign currency exchange risk of our assets and liabilities denominated in currencies other than the functional currency. We do not use derivatives for trading or speculative purposes. These instruments are recorded on the condensed consolidated balance sheets at fair value and classified within Level 2 of the fair value hierarchy. Gains and losses on the derivative instruments that are not designated as hedging instruments are recognized in other income (expense), net in the condensed consolidated statements of operations. The cash flows associated with our non-designated derivatives are classified in cash flows from investing activities on our condensed consolidated statements of cash flows.
As of June 30, 2024, the fair value of our outstanding derivative assets and liabilities were not material. Derivative assets are recorded in prepaid expenses and other current assets and derivative liabilities are recorded in accrued and other current liabilities on our condensed consolidated balance sheets.
We did not record any material realized or unrealized gains or losses for our financial derivative instruments during the three and six months ended June 30, 2024.
We have master netting arrangements with certain counterparties to our foreign currency exchange contracts, which are designed to reduce credit risk by permitting net settlement of transactions with the same counterparty. We have elected to present the derivative assets and derivative liabilities on a gross basis on our condensed consolidated balance sheets. As of June 30, 2024, there were no rights of set-off associated with our foreign currency exchange contracts.
The total notional amount of outstanding derivatives not designated as hedging instruments was $810 million as of June 30, 2024.
Delivery Hero Investment
In May 2024, we paid $300 million to purchase approximately 8.4 million newly issued ordinary shares of Delivery Hero. In connection with the Delivery Hero investment, we entered into a definitive agreement to acquire Foodpanda Taiwan. Refer to Note 1 – Description of Business and Summary of Significant Accounting Policies for further details on the pending acquisition.
As of June 30, 2024, our investment in Delivery Hero was classified as a marketable equity security with a readily determinable fair value (Level 1) measured at fair value on a recurring basis. We recognized an immaterial unrealized loss on this investment in other income (expense), net in our condensed consolidated statements of operations during the three and six months ended June 30, 2024, respectively.
Fair Value Hierarchy
We measure our cash equivalents and certain investments at fair value. Level 1 instrument valuations are based on quoted market
prices of the identical underlying security. Level 2 instrument valuations are obtained from readily available pricing sources for comparable instruments, identical instruments in less active markets, or models using market observable inputs. Level 3 instrument valuations are based on unobservable inputs and other estimation techniques due to the absence of quoted market prices, inherent lack of liquidity and the long-term nature of such financial instruments.
As of December 31, 2023 and June 30, 2024, our Level 3 non-marketable equity securities and note receivable from a related party primarily consist of common stock investments and convertible secured notes that may be converted into common or preferred stock in privately held companies without readily determinable fair values.
Depending on the investee’s financing activity in a reporting period, management’s estimate of fair value may be primarily derived from the investee’s financing transactions, such as the issuance of preferred stock to new investors. The price in these transactions generally provides the best indication of the enterprise value of the investee. Additionally, based on the timing, volume, and other characteristics of the transaction, we may supplement this information by using other valuation techniques, including the guideline public company approach. The guideline public company approach relies on publicly available market data of comparable companies and uses comparative valuation multiples of the investee’s revenue (actual and forecasted), and therefore, unobservable input used in this valuation technique primarily consists of short-term revenue projections.
Once the fair value of the investee is estimated, an option-pricing model (“OPM”), a common stock equivalent (“CSE”) method or a hybrid approach is employed to allocate value to various classes of securities of the investee, including the class owned by us. The model involves making assumptions around the investees’ expected time to liquidity and volatility.
An increase or decrease in any of the unobservable inputs in isolation, such as the security price in a significant financing transaction of the investee, could result in a material increase or decrease in our estimate of fair value. Other unobservable inputs, including short-term revenue projections, time to liquidity, and volatility are less sensitive to the valuation in the respective reporting periods, as a result of the primary weighting on the investee’s financing transactions. In the future, depending on the weight of evidence and valuation approaches used, these or other inputs may have a more significant impact on our estimate of fair value.
We determine realized gains or losses on the sale of equity and debt securities on a specific identification method.
Financial Assets Measured at Fair Value Using Level 3 Inputs
The following table presents a reconciliation of our financial assets measured and recorded at fair value on a recurring basis as of June 30, 2024, using significant unobservable inputs (Level 3) (in millions):
Non-marketable Equity SecuritiesNote Receivable
Balance as of December 31, 2023$— $126 
Change in fair value
Included in earnings3 1 
Balance as of June 30, 2024$3 $127 
Assets Measured at Fair Value on a Non-Recurring Basis
Non-Financial Assets
Our non-financial assets, such as goodwill, intangible assets and property and equipment are adjusted to fair value when an impairment charge is recognized. Such fair value measurements are based predominantly on Level 3 inputs.
Non-Marketable Equity Securities
Our non-marketable equity securities are investments in privately held companies without readily determinable fair values. The carrying value of our non-marketable equity securities are adjusted based on price changes from observable transactions of identical or similar securities of the same issuer (referred to as the measurement alternative) or for impairment. Any changes in carrying value are recorded within other income (expense), net in the condensed consolidated statements of operations. Certain non-marketable equity securities are classified within Level 3 in the fair value hierarchy because we estimate the fair value of these securities based on valuation methods, including the CSE and OPM methods, using the transaction price of similar securities issued by the investee adjusted for contractual rights and obligations of the securities we hold.
Didi Investment
As of December 31, 2023 and June 30, 2024, we measured the fair value of our Didi investment based on the closing share price of the Didi American Depositary Shares on the over-the-counter market as an observable transaction for similar securities. During the three and six months ended June 30, 2023, we recognized an unrealized loss of $461 million and $104 million, respectively, in other income (expense), net in our condensed consolidated statements of operations. During the three and six months ended June 30, 2024, we recognized an unrealized gain of $178 million and $109 million, respectively, in other income (expense), net in our condensed consolidated statements of operations.
We did not record any other material unrealized or realized gains or losses for our non-marketable equity securities measured at fair value on a non-recurring basis during the three and six months ended June 30, 2023 and 2024.
The following table summarizes the total carrying value of our non-marketable equity securities measured at fair value on a non-recurring basis held, including cumulative unrealized upward and downward adjustments made to the initial cost basis of the securities (in millions):
As of
December 31, 2023June 30, 2024
Initial cost basis$1,727 $1,973 
Upward adjustments1,960 2,136 
Downward adjustments (including impairment)(1,113)(1,183)
Total carrying value at the end of the period$2,574 $2,926 
v3.24.2.u1
Equity Method Investments
 6 Months Ended
Jun. 30, 2024
Equity Method Investments and Joint Ventures [Abstract]  
Equity Method Investments
Note 4 – Equity Method Investments
The carrying value of our equity method investments were as follows (in millions):
As of
December 31, 2023June 30, 2024
Careem Technologies$300 $274 
Other53 68 
Total equity method investments$353 $342 
MLU B.V. Investment
During 2018, we closed a transaction that contributed the net assets of our Uber/CIS operations into a newly formed private limited liability company (“MLU B.V.”), with Yandex N.V. (“Yandex”) and us holding ownership interests in MLU B.V.
Sale of Our Remaining Interest in MLU B.V.
On April 21, 2023, we entered into and closed on a definitive agreement to sell our remaining 29% equity interest in MLU B.V. to Yandex for $703 million in cash and recognized an immaterial loss from this transaction recorded in other income (expense), net in our condensed consolidated statements of operations during the three and six months ended June 30, 2023. After this transaction, we no longer had an equity interest in MLU B.V.
As part of our sale of our remaining interest in MLU B.V. to Yandex during the second quarter of 2023, we recognized an immaterial gain in other income (expense), net in our condensed consolidated statements of operations during the three and six months ended June 30, 2023 related to an extinguished option we had granted to Yandex to acquire our remaining equity interest in MLU B.V.
v3.24.2.u1
Goodwill and Intangible Assets
 6 Months Ended
Jun. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Intangible Assets
Note 5 – Goodwill and Intangible Assets
Goodwill
The following table presents the changes in the carrying value of goodwill by segment for the six months ended June 30, 2024 (in millions):
MobilityDeliveryFreightTotal Goodwill
Balance as of December 31, 2023$2,337 $4,369 $1,445 $8,151 
Foreign currency translation adjustment(65)— (3)(68)
Balance as of June 30, 2024$2,272 $4,369 $1,442 $8,083 
Intangible Assets
The components of intangible assets, net were as follows (in millions, except years):
Gross Carrying ValueAccumulated AmortizationNet Carrying ValueWeighted Average Remaining Useful Life - Years
December 31, 2023
Consumer, Merchant and other relationships$1,800 $(697)$1,103 8
Developed technology890 (621)269 5
Trade name, trademarks and other154 (101)53 4
Intangible assets$2,844 $(1,419)$1,425 
Gross Carrying Value
Accumulated Amortization
Net Carrying Value
Weighted Average Remaining Useful Life - Years
June 30, 2024
Consumer, Merchant and other relationships$1,790 $(790)$1,000 8
Developed technology890 (663)227 4
Trade name, trademarks and other146 (108)38 4
Intangible assets$2,826 $(1,561)$1,265 
Amortization expense for intangible assets subject to amortization was $91 million and $70 million for the three months ended June 30, 2023 and 2024, respectively. Amortization expense for intangible assets subject to amortization was $184 million and $154 million for six months ended June 30, 2023 and 2024, respectively.
The estimated aggregate future amortization expense for intangible assets subject to amortization as of June 30, 2024 is summarized below (in millions):
Estimated Future Amortization Expense
Year Ending December 31,
Remainder of 2024$136 
2025248 
2026186 
2027171 
2028127 
Thereafter395 
Total$1,263 
v3.24.2.u1
Long-Term Debt and Revolving Credit Arrangements
 6 Months Ended
Jun. 30, 2024
Debt Disclosure [Abstract]  
Long-Term Debt and Revolving Credit Arrangements
Note 6 – Long-Term Debt and Revolving Credit Arrangements
Components of debt, including the associated effective interest rates and maturities were as follows (in millions, except for percentages):
As of
December 31, 2023June 30, 2024Effective Interest RatesMaturities
2030 Refinanced Term Loans$1,986 $1,973 8.2 %March 3, 2030
2026 Senior Note1,500 1,500 8.1 %November 1, 2026
2027 Senior Note1,200 1,200 7.7 %September 15, 2027
2028 Senior Note500 500 7.0 %January 15, 2028
2029 Senior Note1,500 1,500 4.7 %August 15, 2029
2025 Convertible Notes1,150 1,150 0.2 %December 15, 2025
2028 Convertible Note1,725 1,725 1.1 %December 1, 2028
Total debt9,561 9,548 
Less: unamortized discount and issuance costs(77)(69)
Less: current portion of long-term debt(25)(25)
Total long-term debt$9,459 $9,454 
2030 Refinanced Term Loans
In March 2023, we entered into two refinancing transactions pursuant to an amendment to the 2016 Senior Secured Term Loan Agreement. On March 3, 2023, we entered into a refinancing transaction under which we borrowed $1.75 billion (“First Closing”), the proceeds of which were used to repay in full the outstanding 2025 Refinanced Term Loan of $1.4 billion and $317 million of the outstanding 2027 Refinanced Term Loan. On March 14, 2023, we entered into the second refinancing transaction under which we borrowed $761 million (“Second Closing”), the proceeds of which were used to repay in full the outstanding 2027 Refinanced Term Loan. The Second Closing constituted an additional term loan in the same tranche as the First Closing (collectively, the “2030 Refinanced Term Loans”). In November 2023, we used a portion of the net proceeds from our 2028 Convertible Notes offering, described below, to pay down $500 million of our 2030 Refinanced Term Loans. The partial extinguishment did not result in any changes to the terms of our 2030 Refinanced Term Loans.
The 2030 Refinanced Term Loans have a maturity date of March 3, 2030. The interest rate for the 2030 Refinanced Term Loans is Secured Overnight Financing Rate (“SOFR”) subject to a floor of 0.00%, plus 2.75% per annum. The refinancing transactions qualified as both a debt modification and debt extinguishment. As a result, we recognized an immaterial loss on debt extinguishment during the six months ended June 30, 2023 in other income (expense), net, in our condensed consolidated statement of operations. The refinancing transactions resulted in: (i) $1.1 billion cash inflow from the issuance of the 2030 Refinanced Term Loans, net of issuance costs, from new lenders and additional principal from existing lenders; (ii) a $1.1 billion cash outflow of principal payments on the 2025 Refinanced Term Loan and 2027 Refinanced Term Loan to exiting lenders and lower principal from existing lenders. The cash inflow and cash outflow are recorded within cash flows from financing activities in our condensed statement of cash flows during the six months ended June 30, 2023.
The 2030 Refinanced Term Loans are guaranteed by certain of our material domestic restricted subsidiaries. The 2030 Refinanced Term Loans agreements contain customary covenants restricting our and certain of our subsidiaries’ ability to incur debt, incur liens and undergo certain fundamental changes. We were in compliance with all covenants as of June 30, 2024. The 2030 Refinanced Term Loans are secured by certain of our intellectual property and equity of certain material foreign subsidiaries.
The fair value of our 2030 Refinanced Term Loans was $2.0 billion as of June 30, 2024 and was determined based on quoted prices in markets that are not active, which is considered a Level 2 valuation input.
2025 Convertible Notes
In December 2020, we issued $1.15 billion aggregate principal amount of 0% convertible senior notes due in 2025 (the “2025 Convertible Notes”), including the exercise in full by the initial purchasers of the 2025 Convertible Notes of their option to purchase up to an additional $150 million principal amount of the 2025 Convertible Notes. The 2025 Convertible Notes were issued in a private placement to qualified institutional buyers pursuant to Rule144A under the Securities Act. The 2025 Convertible Notes will mature on December 15, 2025, unless earlier converted, redeemed or repurchased.
Holders of the 2025 Convertible Notes may convert their notes at their option at any time prior to the close of business on the business day immediately preceding September 15, 2025 only under the following circumstances: (i) during any calendar quarter commencing after the calendar quarter ending on March 31, 2021 (and only during such calendar quarter), if the last reported sale price of our common stock for at least 20 trading days (whether or not consecutive) during a period of 30 consecutive trading days
ending on, and including, the last trading day of the immediately preceding calendar quarter is greater than or equal to 130% of the conversion price on each applicable trading day; (ii) during the five business day period after any ten consecutive trading day period (the “measurement period”) in which the trading price (as defined in the indenture governing the 2025 Convertible Notes) per $1,000 principal amount of notes for each trading day of the measurement period was less than 98% of the product of the last reported sale price of our common stock and the conversion rate on each such trading day; (iii) if we call such notes for redemption, at any time prior to the close of business on the scheduled trading day immediately preceding the applicable redemption date; or (iv) upon the occurrence of specified corporate events. On or after September 15, 2025 until the close of business on the second scheduled trading day immediately preceding the maturity date, holders may convert all or any portion of their notes at any time, regardless of the foregoing circumstances.
As of June 30, 2024, none of the conditions permitting the holders of the 2025 Convertible Notes to convert their notes early had been met. Therefore, the 2025 Convertible Notes are classified as long-term.
The initial conversion rate is 12.3701 shares of common stock per $1,000 principal amount of notes, equivalent to an initial conversion price of approximately $80.84 per share of common stock. The conversion rate will be subject to adjustment in some events but will not be adjusted for any accrued and unpaid special interest.
Upon conversion of the 2025 Convertible Notes, we will pay or deliver, as the case may be, cash, shares of our common stock or a combination of cash and shares of our common stock, at our election. We may redeem for cash all or any portion of the notes, at our option if the last reported sale price of our common stock has been at least 130% of the conversion price then in effect for at least 20 trading days (whether or not consecutive) during any 30 consecutive trading day period (including the last trading day of such period) ending on, and including, the trading day immediately preceding the date on which we provide notice of redemption at a redemption price equal to 100% of the principal amount of the notes to be redeemed, plus accrued and unpaid special interest, if any, to, but excluding, the redemption date.
The indenture governing the 2025 Convertible Notes does not contain any financial or operating covenants or restrictions on the payments of dividends, the incurrence of indebtedness or the issuance or repurchase of securities by us or any of our subsidiaries.
The fair value of our 2025 Convertible Notes was $1.2 billion as of June 30, 2024 and was determined based on quoted prices in markets that are not active, which is considered a Level 2 valuation input.
Amendments to 2025 Convertible Notes
On November 24, 2023, we entered into the First Supplemental Indenture (the “First Supplemental Indenture”), to an indenture, dated as of December 11, 2020 (the “Base Indenture”), by and between us and the U.S. Bank Trust Company, National Association, as trustee, governing our outstanding 2025 Convertible Notes. Pursuant to the First Supplemental Indenture, we irrevocably elected (i) to eliminate our option to choose Physical Settlement (as defined in the Base Indenture) on any conversion of the 2025 Convertible Notes that occurs on or after the date of the First Supplemental Indenture, (ii) Cash Settlement or Combination Settlement (each as defined in the Base Indenture) as the Settlement Method of any conversion of the 2025 Convertible Notes and (iii) that, with respect to any Combination Settlement for a conversion of the 2025 Convertible Notes, the Specified Dollar Amount (as defined in the Base Indenture) that will be settled in cash per $1,000 principal amount of the 2025 Convertible Notes will be no lower than $1,000.
2028 Convertible Notes and Capped Call Transactions
2028 Convertible Notes
In November 2023, we issued $1.73 billion aggregate principal amount of 0.875% convertible senior notes due in 2028 (the “2028 Convertible Notes”), including the exercise in full by the initial purchasers of the 2028 Convertible Notes of their option to purchase up to an additional $225 million principal amount of the 2028 Convertible Notes. The 2028 Convertible Notes were issued in a private placement to qualified institutional buyers pursuant to Rule 144A under the Securities Act. The interest is payable semi-annually in arrears on June 1 and December 1 of each year, beginning on June 1, 2024, and the notes will mature on December 1, 2028, unless earlier converted, redeemed or repurchased. The net proceeds from this offering were approximately $1.70 billion, after deducting the debt issuance costs. We used a portion of the net proceeds from this offering to fund the cost of entering into the capped call transactions, described below. Additionally, we used the remainder of the net proceeds, along with cash on hand, to redeem all of our outstanding 2025 Senior Notes and partially pay down our 2030 Refinanced Term Loans.
Holders of the 2028 Convertible Notes may convert their notes at their option at any time prior to the close of business on the business day immediately preceding September 1, 2028 only under the following circumstances: (i) during any calendar quarter commencing after the calendar quarter ending on March 31, 2024 (and only during such calendar quarter), if the last reported sale price of our common stock for at least 20 trading days (whether or not consecutive) during the period of 30 consecutive trading days ending on, and including, the last trading day of the immediately preceding calendar quarter is greater than or equal to 130% of the conversion price on each applicable trading day; (ii) during the five business day period after any ten consecutive trading day period (the “measurement period”) in which the trading price (as defined in the indenture governing the 2028 Convertible Notes) per $1,000 principal amount of notes for each trading day of the measurement period was less than 98% of the product of the last reported sale price of our common stock and the conversion rate on each such trading day; (iii) if we call such notes for redemption, at any time
prior to the close of business on the scheduled trading day immediately preceding the applicable redemption date; or (iv) upon the occurrence of specified corporate events. On or after September 1, 2028 until the close of business on the second scheduled trading day immediately preceding the maturity date, holders may convert all or any portion of their notes at any time, regardless of the foregoing circumstances.
As of June 30, 2024, none of the conditions permitting the holders of the 2028 Convertible Notes to convert their notes early had been met. Therefore, the 2028 Convertible Notes are classified as long-term.
The initial conversion rate is 13.7848 shares of the common stock per $1,000 principal amount of notes, equivalent to an initial conversion price of approximately $72.54 per share of the common stock. The conversion rate will be subject to adjustment in some events but will not be adjusted for any accrued and unpaid interest.
Upon conversion of the 2028 Convertible Notes, we must pay cash up to the aggregate principal amount of the notes to be converted and pay or deliver as the case may be, cash, shares of our common stock, or a combination of cash and shares of our common stock, at our election in respect of the remainder, if any, of our conversion obligation in excess of the aggregate principal amount of the notes being converted.
We may not redeem the notes prior to December 5, 2026. We may redeem for cash all or any portion of the notes, at our option, on or after December 5, 2026, if the last reported sale price of our common stock has been at least 130% of the conversion price then in effect for at least 20 trading days (whether or not consecutive) during any 30 consecutive trading day period (including the last trading day of such period) ending on, and including, the trading day immediately preceding the date on which we provide notice of redemption at a redemption price equal to 100% of the principal amount of the notes to be redeemed, plus accrued and unpaid interest, if any, to, but excluding, the redemption date.
The indenture governing the 2028 Convertible Notes does not contain any financial or operating covenants or restrictions on the payments of dividends, the incurrence of indebtedness or the issuance or repurchase of securities by us or any of our subsidiaries.
The fair value of our 2028 Convertible Notes was $2.1 billion as of June 30, 2024 and was determined based on quoted prices in markets that are not active, which is considered a Level 2 valuation input.
Capped Calls
In connection with the issuance of the 2028 Convertible Notes, we entered into privately negotiated capped call transactions (“the Capped Calls”) with certain of the initial purchasers of the 2028 Convertible Notes or their respective affiliates (the “option counterparties”) at a cost of approximately $141 million. The Capped Calls cover, subject to anti-dilution adjustments, the number of shares of our common stock initially underlying the 2028 Convertible Notes. By entering into the Capped Calls, we expect to reduce the potential dilution to our common stock (or, in the event a conversion of the 2028 Convertible Notes is settled in cash, to reduce our cash payment obligation) in the event that at the time of conversion of the 2028 Convertible Notes the trading price of our common stock price exceeds the conversion price of the 2028 Convertible Notes.
The initial cap price of the Capped Calls was approximately $95.81 per share, which represents a premium of 75% over the last reported sale price of our common stock of $54.75 on the New York Stock Exchange on November 20, 2023, and is subject to certain adjustments under the terms of the Capped Calls. The Capped Calls were included in additional paid-in capital in the condensed consolidated balance sheet as of December 31, 2023, with no remeasurement in subsequent periods as it meets the conditions for equity classification.
Senior Notes
The 2026, 2027, 2028 and 2029 Senior Notes (collectively “Senior Notes”) are guaranteed by certain of our material domestic restricted subsidiaries. The indentures governing the Senior Notes contain customary covenants restricting our and certain of our subsidiaries’ ability to incur debt and incur liens, as well as certain financial covenants specified in the indentures. We were in compliance with all covenants as of June 30, 2024.
The following table presents the fair values of our Senior Notes as of June 30, 2024, and were determined based on quoted prices in markets that are not active, which is considered a Level 2 valuation input (in millions):
As of June 30, 2024
2026 Senior Note$1,512 
2027 Senior Note1,224 
2028 Senior Note500 
2029 Senior Note1,427 
Total$4,663 
The following table presents the amount of interest expense recognized relating to the contractual interest coupon and amortization of the debt discount and issuance costs with respect to our long-term debt, for the three and six months ended June 30, 2023 and 2024 (in millions):
Three Months Ended June 30,Six Months Ended June 30,
2023202420232024
Contractual interest coupon$145 $124 $292 $247 
Amortization of debt discount and issuance costs3 4 10 8 
Total interest expense from long-term debt$148 $128 $302 $255 
Revolving Credit Arrangements
We have a revolving credit agreement initially entered into during 2015 with certain lenders, which provides for $2.3 billion in credit maturing on June 13, 2023 (“Revolving Credit Facility”). On April 4, 2022, we entered into an amendment to our Revolving Credit Facility to, among other things, (i) provide for approximately $2.2 billion of revolving credit commitments, (ii) extend the maturity date for the commitments and loans from June 13, 2023 to April 4, 2027, (iii) reduce the minimum liquidity covenant from $1.5 billion to $1.0 billion, (iv) replace the London Interbank Offered Rate (“LIBOR”) based interest rate with a SOFR based interest rate, and (v) make certain other changes to the negative covenants under the amended revolving credit agreement. The Revolving Credit Facility may be guaranteed by certain of our material domestic restricted subsidiaries based on certain conditions. The credit agreement contains customary covenants restricting our and certain of our subsidiaries’ ability to incur debt, incur liens, and undergo certain fundamental changes, as well as maintain a certain level of liquidity specified in the contractual agreement. We were in compliance with all covenants in the Revolving Credit Facility as of June 30, 2024. The credit agreement also contains customary events of default. The Revolving Credit Facility also contains restrictions on the payment of dividends.
On July 28, 2023, we entered into a joinder agreement to our Revolving Credit Facility to add an incremental revolving loan lender and increase the available commitments under the Revolving Credit Facility by an aggregate principal amount of $250 million. The joinder agreement brings the total revolver capacity to approximately $2.5 billion. There were no changes to the pricing or maturity of the Revolving Credit Facility.
As of June 30, 2024, there was no balance outstanding on the Revolving Credit Facility.
In February 2023, Uber Freight Holding Corporation (“Freight Holding”) entered into a $300 million senior secured asset-based revolving credit facility guaranteed by the assets of Freight Holding. As of June 30, 2024, there was no balance outstanding on Freight Holding’s revolving credit facility.
Letters of Credit
For purposes of securing obligations related to leases and other contractual obligations, we also maintain an agreement for letters of credit, which is collateralized by our Revolving Credit Facility and reduces the amount of credit available. As of December 31, 2023 and June 30, 2024, we had letters of credit outstanding of $975 million and $1.2 billion, respectively, of which the letters of credit that reduced the available credit under the Revolving Credit Facility were $287 million and $384 million, respectively.
v3.24.2.u1
Supplemental Financial Statement Information
 6 Months Ended
Jun. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Supplemental Financial Statement Information
Note 7 – Supplemental Financial Statement Information
Prepaid Expenses and Other Current Assets
Prepaid expenses and other current assets were as follows (in millions):
As of
December 31, 2023June 30, 2024
Prepaid expenses$400 $364 
Other receivables717 589 
Other564 679 
Prepaid expenses and other current assets$1,681 $1,632 
Accrued and Other Current Liabilities
Accrued and other current liabilities were as follows (in millions):
As of
December 31, 2023June 30, 2024
Accrued legal, regulatory and non-income taxes$1,044 $1,411 
Accrued Drivers and Merchants liability1,996 2,377 
Accrued compensation and employee benefits710 410 
Income and other tax liabilities684 652 
Commitment to issue unsecured convertible notes in connection with Careem acquisition128 128 
Other1,896 2,003 
Accrued and other current liabilities$6,458 $6,981 
Other Long-Term Liabilities
Other long-term liabilities were as follows (in millions):
As of
December 31, 2023June 30, 2024
Deferred tax liabilities$56 $35 
Other776 699 
Other long-term liabilities$832 $734 
Accumulated Other Comprehensive Income (Loss)
The changes in composition of accumulated other comprehensive income (loss), net of tax, were as follows (in millions):
Foreign Currency Translation AdjustmentsUnrealized Gains (Losses) on Available-for-Sale Securities, Net of TaxTotal
Balance as of December 31, 2022$(443)$— $(443)
Other comprehensive income (loss) before reclassifications(138)(2)(140)
Amounts reclassified from accumulated other comprehensive income (loss) (1)
140 — 140 
Other comprehensive income (loss)2 (2)— 
Balance as of June 30, 2023$(441)$(2)$(443)
(1) The amounts were reported as part of the loss from the sale of our remaining interest in MLU B.V., which was recorded in other income (expense), net in our condensed consolidated statements of operations during the three and six months ended June 30, 2023. Refer to Note 4 – Equity Method Investments for further information.
Foreign Currency Translation AdjustmentsUnrealized Gains (Losses) on Available-for-Sale Securities, Net of TaxTotal
Balance as of December 31, 2023$(426)$5 $(421)
Other comprehensive income (loss) before reclassifications(49)(9)(58)
Amounts reclassified from accumulated other comprehensive income (loss)— — — 
Other comprehensive income (loss)(49)(9)(58)
Balance as of June 30, 2024$(475)$(4)$(479)
Other Income (Expense), Net
The components of other income (expense), net were as follows (in millions):
Three Months Ended June 30,Six Months Ended June 30,
2023202420232024
Interest income$107 $176 $194 $335 
Foreign currency exchange gains (losses), net1 (83)(93)(247)
Unrealized gain (loss) on debt and equity securities, net (1)
386 333 706 (388)
Loss from sale of investment (2)
(74)— (74)— 
Other, net(147)(6)(168)42 
Other income (expense), net$273 $420 $565 $(258)
(1) During the three and six months ended June 30, 2023, unrealized gain on debt and equity securities, net represents changes in the fair value of our equity securities, primarily including: a $466 million and $521 million unrealized gain on our Aurora investment, respectively; a $151 million and $177 million unrealized gain on our Joby investment, respectively; a $225 million and $113 million unrealized gain on our Grab investment, respectively; partially offset by a $461 million and $104 million unrealized loss on our Didi investment, respectively.
During the three months ended June 30, 2024, unrealized gain on debt and equity securities, net represents changes in the fair value of our equity securities, primarily including: a $220 million unrealized gain on our Grab investment, and a $178 million unrealized gain on our Didi investment.
During the six months ended June 30, 2024, unrealized loss on debt and equity securities, net represents changes in the fair value of our equity securities, primarily including: a $522 million unrealized loss on our Aurora investment; partially offset by a $109 million gain on our Didi investment and a $96 million gain on our Grab investment.
(2) Refer to Note 4 – Equity Method Investments for further information.
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Stockholders' Equity
 6 Months Ended
Jun. 30, 2024
Equity [Abstract]  
Stockholders' Equity
Note 8 – Stockholders' Equity
Equity Compensation Plans
We maintain four equity compensation plans that provide for the issuance of shares of our common stock to our officers and other employees, directors, and consultants: the 2010 Stock Plan (the “2010 Plan”), the 2013 Equity Incentive Plan (the “2013 Plan”), the 2019 Equity Incentive Plan (the “2019 Plan”), and the 2019 Employee Stock Purchase Plan (the “ESPP”), which have all been approved by stockholders. Following our initial public offering (“IPO”) in May 2019, we have only issued awards under the 2019 Plan and the ESPP, and no additional awards will be granted under the 2010 and 2013 Plans. These plans provide for the issuance of incentive stock options (“ISOs”), nonqualified stock options (“NSOs”), stock appreciation rights (“SARs”), restricted stock awards, restricted stock units (“RSUs”), performance-based awards, and other awards (that are based in whole or in part by reference to our common stock).
Stock Option and SAR Activity
A summary of stock option and SAR activity for the six months ended June 30, 2024 is as follows (in millions, except share amounts which are reflected in thousands, per share amounts, and years):
SARs Outstanding Number of SARsOptions Outstanding Number of SharesWeighted-Average Exercise Price Per ShareWeighted-Average Remaining Contractual Life (in years)Aggregate Intrinsic Value
As of December 31, 2023123 12,641 $20.03 2.79$535 
Granted— 227 $81.03 
Exercised(71)(5,206)$17.77 
Canceled and forfeited— (520)$33.08 
As of June 30, 202452 7,142 $22.47 3.09$363 
Vested and expected to vest as of June 30, 202452 6,067 $19.00 2.60$328 
Exercisable as of June 30, 202452 6,067 $19.00 2.60$328 
RSU Activity
The following table summarizes the activity related to our RSUs for the six months ended June 30, 2024 (in thousands, except per share amounts):
Number of SharesWeighted-Average
 Grant-Date Fair
 Value per Share
Unvested and outstanding as of December 31, 202390,827 $34.49 
Granted24,198 $75.55 
Vested(23,702)$37.08 
Canceled and forfeited(5,864)$37.97 
Unvested and outstanding as of June 30, 202485,459 $45.34 
Stock-Based Compensation Expense
Stock-based compensation expense is allocated based on the cost center to which the award holder belongs. The following table summarizes total stock-based compensation expense by function (in millions):
Three Months Ended June 30,Six Months Ended June 30,
2023202420232024
Operations and support$45 $54 $83 $121 
Sales and marketing26 24 50 45 
Research and development317 277 607 576 
General and administrative116 100 234 197 
Total$504 $455 $974 $939 
As of June 30, 2024, there was $3.8 billion of unamortized compensation costs related to all unvested awards. The unamortized compensation costs are expected to be recognized over a weighted-average period of approximately 2.81 years.
The tax benefits recognized in the condensed consolidated statements of operations for stock-based compensation arrangements were not material during the three and six months ended June 30, 2023 and 2024.
Share Repurchase Program
In February 2024, our board of directors authorized the repurchase of up to $7.0 billion in shares of our outstanding common stock (the “Share Repurchase Program”). The timing, manner, price and amount of any repurchases are determined by the discretion of management, depending on market conditions and other factors. Repurchases may be made through open market purchases and accelerated share repurchases. The exact number of shares to be repurchased by us, if any, is not guaranteed. Depending on market conditions and other factors, these repurchases may be commenced or suspended at any time or periodically without prior notice.
During the three months ended June 30, 2024, we repurchased and subsequently retired 4.8 million shares of common stock for $326 million, including broker commissions and fees. As of June 30, 2024, we had $6.7 billion available to repurchase shares pursuant to the Share Repurchase Program.
The Inflation Reduction Act imposed a nondeductible 1% excise tax on the net value of certain stock repurchases. During the three months ended June 30, 2024, the excise tax on net share repurchases was not material.
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Income Taxes
 6 Months Ended
Jun. 30, 2024
Income Tax Disclosure [Abstract]  
Income Taxes
Note 9 – Income Taxes
We compute our quarterly income tax expense/(benefit) by using a forecasted annual effective tax rate and adjust for any discrete items arising during the quarter. We recorded an income tax expense/(benefit) of $65 million and $120 million for the three and six months ended June 30, 2023, respectively, and $57 million and $86 million for the three and six months ended June 30, 2024, respectively. During the three and six months ended June 30, 2023, the income tax expense was primarily driven by our foreign operations. During the three months ended June 30, 2024, the income tax expense was primarily driven by our foreign operations. During the six months ended June 30, 2024, the income tax expense was primarily driven by our foreign operations, offset by the deferred U.S. tax impact related to our investment in Aurora. The primary differences between the effective tax rate and the federal statutory tax rate are due to the valuation allowance on our U.S. and Netherlands' deferred tax assets and foreign tax rate differences.
During the six months ended June 30, 2024, the amount of gross unrecognized tax benefits increased by $115 million, of which an immaterial amount would impact the effective tax rate due to the valuation allowance against certain deferred tax assets.
We are subject to taxation in the U.S. and various state and foreign jurisdictions. We are also under routine examination by federal, various state and foreign tax authorities. We believe that adequate amounts have been reserved in these jurisdictions. To the extent we have tax attribute carryforwards, the tax years in which the attribute was generated may still be adjusted upon examination by the federal, state or foreign tax authorities to the extent utilized in a future period. For our major tax jurisdictions, the tax years 2004 through 2024 remain open; the major tax jurisdictions are the U.S., Brazil, Netherlands, and the United Kingdom (“UK”).
Although the timing of the resolution and/or closure of audits is highly uncertain, it is reasonably possible that the balance of gross unrecognized tax benefits could significantly change in the next 12 months. Given the number of years remaining subject to examination and the number of matters being examined, we are unable to estimate the full range of possible adjustments to the balance of gross unrecognized tax benefits. Any changes to unrecognized tax benefits recorded as of June 30, 2024 that are reasonably possible to occur within the next 12 months are not expected to be material.
In the event we experience an ownership change within the meaning of Section 382 of the Internal Revenue Code (“IRC”), our ability to utilize net operating losses, tax credits and other tax attributes may be limited. The most recent analysis of our historical ownership changes was completed through June 30, 2024. Based on the analysis, we do not anticipate a current limitation on the tax attributes.
Based on available evidence, management believes it is not more-likely-than-not that the net U.S., Netherlands, and other non-material jurisdictions’ deferred tax assets will be fully realizable. In these jurisdictions, we have recorded a valuation allowance against net deferred tax assets. We regularly review the deferred tax assets for recoverability based on historical taxable income, projected future taxable income, excess tax benefits related to stock-based compensation, the expected timing of the reversals of existing taxable temporary differences and tax planning strategies by jurisdiction. Our judgment regarding future profitability may change due to many factors, including future market conditions and the ability to successfully execute our business plans and/or tax planning strategies.
Based on our assessment of current income and anticipated future earnings, there is a reasonable possibility that we will have sufficient evidence to release a significant portion of the valuation allowance in the U.S. within the next 12 months. However, our judgment regarding future earnings and the exact timing and amount of any valuation allowance release are subject to change due
to many factors, including future market conditions, the ability to successfully execute our business plans, and the amount of stock-based compensation tax deductions available in the future.
Release of the valuation allowance would result in the recognition of net deferred tax assets on our consolidated balance sheet and would result in an income tax benefit in the period the release is recorded.
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Net Income (Loss) Per Share
 6 Months Ended
Jun. 30, 2024
Earnings Per Share [Abstract]  
Net Income (Loss) Per Share
Note 10 – Net Income (Loss) Per Share
Basic net income (loss) per share is computed by dividing net income (loss) by the weighted-average number of common shares outstanding for the periods presented. Diluted net income (loss) per share is computed by giving effect to all potential weighted average dilutive common stock. For diluted net income (loss) per share, the dilutive effect of outstanding awards is reflected by application of the treasury stock method and convertible securities by application of the if-converted method, as applicable.
We take into account the effect on consolidated net income (loss) per share of dilutive securities of entities in which we hold equity interests that are accounted for using the equity method.
The following table sets forth the computation of basic and diluted net income (loss) per share attributable to common stockholders (in millions, except share amounts which are reflected in thousands, and per share amounts):
Three Months Ended June 30,Six Months Ended June 30,
2023202420232024
Basic net income per share:
Numerator
Net income including non-controlling interests$394 $1,008 $237 $345 
Net loss attributable to non-controlling interests, net of tax— (7)— (16)
          Net income attributable to common stockholders$394 $1,015 $237 $361 
Denominator
Basic weighted-average common stock outstanding2,026,813 2,092,180 2,018,233 2,085,324 
Basic net income per share attributable to common stockholders (1)
$0.19 $0.49 $0.12 $0.17 
Diluted net income per share:
Numerator
     Net income attributable to common stockholders$394 $1,015 $237 $361 
Assumed net loss attributable to Uber Technologies, Inc. upon redemption of Freight Holding convertible common shares, non-controlling interest(14)(14)(28)(30)
Interest expense, amortization of debt discount and issuance costs of 2025 Convertible Notes
1 — 1 — 
     Diluted net income attributable to common stockholders$381 $1,001 $210 $331 
Denominator
     Number of shares used in basic net income per share computation2,026,813 2,092,180 2,018,233 2,085,324 
     Weighted-average effect of potentially dilutive securities:
Stock options10,163 5,740 10,365 6,509 
RSUs20,891 37,161 15,468 41,426 
Assumed common shares issued from outstanding RSAs91 — 61 74 
Warrants73 73 73 73 
Common shares issued for ESPP735 586 745 787 
Assumed redemption of Freight Holding convertible common shares, non-controlling interest3,502 1,333 4,318 1,701 
Assumed redemption of Freight Series A contingently redeemable preferred stock, non-controlling interest— 10,625 — 13,432 
2025 Convertible Notes14,226 — 14,226 — 
Careem Notes2,771 2,321 2,771 2,321 
     Diluted weighted-average common stock outstanding2,079,265 2,150,019 2,066,260 2,151,647 
Diluted net income per share attributable to common stockholders (1)
$0.18 $0.47 $0.10 $0.15 
(1) Per share amounts are calculated using unrounded numbers and therefore may not recalculate.
The following potentially dilutive outstanding securities were excluded from the computation of diluted net income (loss) per share because their effect would have been anti-dilutive for the periods presented, or issuance of such shares is contingent upon the satisfaction of certain conditions which were not satisfied by the end of the period (in thousands):
Three Months Ended June 30,Six Months Ended June 30,
2023202420232024
Freight Series A contingently redeemable preferred stock19,244 — 19,244 — 
RSUs15,530 21,381 15,530 21,381 
Stock options2,934 227 2,934 227 
Common stock subject to repurchase1,461 — 1,461 — 
Shares committed under ESPP3,048 1,320 3,048 1,320 
Total42,217 22,928 42,217 22,928 
v3.24.2.u1
Segment Information and Geographic Information
 6 Months Ended
Jun. 30, 2024
Segment Reporting [Abstract]  
Segment Information and Geographic Information
Note 11 – Segment Information and Geographic Information
We determine our operating segments based on how the chief operating decision maker (“CODM”) manages the business, allocates resources, makes operating decisions and evaluates operating performance.
Our three operating and reportable segments are as follows:
Segment
Description
MobilityMobility products connect consumers with Drivers who provide rides in a variety of vehicles, such as cars, auto rickshaws, motorbikes, minibuses, or taxis. Mobility also includes activity related to our financial partnerships products and advertising.
Delivery
Delivery offerings allow consumers to search for and discover local restaurants, order a meal, and either pick-up at the restaurant or have the meal delivered. In certain markets, Delivery provides offerings for grocery, alcohol, and convenience store delivery as well as select other goods. We refer to the grocery, alcohol, convenience and retail categories collectively as Grocery & Retail. Delivery also includes advertising.
Freight
Freight connects Carriers with Shippers on our platform, and gives Carriers upfront, transparent pricing and the ability to book a shipment. Freight also includes transportation management and other logistics services offerings.
For information about how our reportable segments derive revenue, as well as revenue grouped by offerings and geographical region, refer to Note 2 – Revenue.
Our segment operating performance measure is Segment Adjusted EBITDA. The CODM does not evaluate operating segments using asset information and, accordingly, we do not report asset information by segment. Segment Adjusted EBITDA is defined as revenue less the following expenses: cost of revenue, operations and support, sales and marketing, and general and administrative and research and development expenses associated with our segments. Segment Adjusted EBITDA also excludes non-cash items or items that management does not believe are reflective of our ongoing core operations (as shown in the table below).
The following table provides information about our segments and a reconciliation of total Segment Adjusted EBITDA to income from operations (in millions):
Three Months Ended June 30,Six Months Ended June 30,
2023202420232024
Segment Adjusted EBITDA:
Mobility$1,170 $1,567 $2,230 $3,046 
Delivery329 588 617 1,116 
Freight(14)(12)(37)(33)
Total Segment Adjusted EBITDA1,485 2,143 2,810 4,129 
Reconciling items:
Corporate G&A and Platform R&D (1)
(569)(573)(1,133)(1,177)
Depreciation and amortization(208)(173)(415)(363)
Stock-based compensation expense(504)(455)(974)(939)
Legal, tax, and regulatory reserve changes and settlements (2)
155 (134)(95)(661)
Goodwill and asset impairments/loss on sale of assets(16)— (83)3 
Acquisition, financing and divestitures related expenses(10)(3)(18)(8)
Gain on lease arrangement, net
2 — 3 — 
Restructuring and related charges(9)(9)(31)(16)
Income from operations$326 $796 $64 $968 
(1) Includes costs that are not directly attributable to our reportable segments. Corporate G&A also includes certain shared costs such as finance, accounting, tax, human resources, information technology and legal costs. Platform R&D also includes mapping and payment technologies and support and development of the internal technology infrastructure. Our allocation methodology is periodically evaluated and may change.
(2) Legal, tax, and regulatory reserve changes and settlements are primarily related to certain significant legal proceedings or governmental investigations related to worker classification definitions, or tax agencies challenging our non-income tax positions. These matters have limited precedent, cover extended historical periods and are unpredictable in both magnitude and timing, therefore
are distinct from normal, recurring legal, tax and regulatory matters and related expenses incurred in our ongoing operating performance.
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Commitments and Contingencies
 6 Months Ended
Jun. 30, 2024
Commitments and Contingencies Disclosure [Abstract]  
Commitments and Contingencies
Note 12 – Commitments and Contingencies
Contingencies
From time to time, we are a party to various claims, non-income tax audits and litigation in the normal course of business. As of December 31, 2023 and June 30, 2024, we had recorded aggregate liabilities of $1.0 billion and $1.4 billion, respectively, of which $336 million and $201 million, respectively, relate to non-income tax matters in accrued and other current liabilities on the condensed consolidated balance sheets for all of our legal, regulatory and non-income tax matters that were probable and reasonably estimable.
We are currently party to various legal and regulatory matters that have arisen in the normal course of business and include, among others, alleged independent contractor misclassification claims, Fair Credit Reporting Act (“FCRA”) claims, alleged background check violations, pricing and advertising claims, unfair competition claims, intellectual property claims, employment discrimination and other employment-related claims, Telephone Consumer Protection Act (“TCPA”) claims, Americans with Disabilities Act (“ADA”) claims, data and privacy claims, securities claims, antitrust claims, challenges to regulations, and other matters. We have existing litigation, including class actions, Private Attorney General Act lawsuits, arbitration claims, and governmental administrative and audit proceedings, asserting claims by or on behalf of Drivers that Drivers are misclassified as independent contractors. In connection with the enactment of California State Assembly Bill 5 (“AB5”), we have received and expect to continue to receive - in California and in other jurisdictions - an increased number of misclassification claims. With respect to our outstanding legal and regulatory matters, based on our current knowledge, we believe that the ultimate amount or range of reasonably possible loss will not, either individually or in the aggregate, have a material adverse effect on our business, financial position, results of operations, or cash flows. The outcome of such legal matters is inherently unpredictable and subject to significant uncertainties. If one or more of these matters were resolved against us for amounts in excess of management's expectations, our results of operations, financial condition or cash flows could be materially adversely affected.
Driver Classification
California Attorney General Lawsuit
In January 2020, AB5 went into effect. AB5 codifies a test to determine whether a worker is an employee under California law. The test is referred to as the “ABC” test, and was originally handed down by the California Supreme Court in Dynamex Operations v. Superior Court in 2018. Under the ABC test, workers performing services for a hiring entity are considered employees unless the hiring entity can demonstrate three things: the worker (A) is free from the hiring entity’s control, (B) performs work that is outside the usual course of the hiring entity’s business, and (C) customarily engages in the independent trade, work or type of business performed for the hiring entity.
On May 5, 2020, the California Attorney General, in conjunction with the city attorneys for San Francisco, Los Angeles and San Diego, filed a complaint in San Francisco Superior Court against Uber and Lyft, Inc. (“Lyft”). The complaint alleges drivers are misclassified, and seeks an injunction and monetary damages related to the alleged competitive advantage caused by the alleged misclassification of drivers.
On August 10, 2020, the Court issued a preliminary injunction order, prohibiting us from classifying drivers as independent contractors and from violating various wage and hour laws. The injunction was stayed pending appeal. On October 22, 2020, the Court of Appeal affirmed the lower court’s ruling, and we filed a petition for review of the decision with the California Supreme Court. The petition was based upon the passage of Proposition 22 by California voters in November 2020, and requested that the Court of Appeal opinion be vacated because AB5’s application to Uber was superseded by Proposition 22.
Proposition 22 was a state ballot initiative that provides a framework for drivers that use platforms like ours to qualify as independent workers. As a result of the passage of Proposition 22, Drivers are able to maintain their status as independent contractors under California law, and we and our competitors are required to comply with the provisions of Proposition 22. Proposition 22 went into effect on December 16, 2020.
The California Supreme Court declined the petition for review on February 10, 2021. The lawsuit was returned to the trial court following the appellate proceedings on February 22, 2021. On April 12, 2021, the California Attorney General, Uber and Lyft filed a stipulation to dissolve the preliminary injunction with the trial court. On April 16, 2021, the trial court signed an order granting the stipulation. Although the preliminary injunction has been dissolved, the lawsuit remains ongoing relating to claims by the California Attorney General for periods prior to enactment of Proposition 22. The parties petitioned to stay this matter pending coordination with other California employment related matters, which was granted and a coordination judge was assigned. The case had been stayed pending appeal of the denial of a motion to compel arbitration, however the California Supreme Court denied review on January 17, 2024, and the case was remitted back to the Superior Court on January 29, 2024 for further proceedings. On July 2, 2024, the Superior Court lifted the stay. We intend to continue to vigorously defend ourselves. Our chances of success on the merits are still uncertain and any reasonably possible loss or range of loss cannot be estimated.
Castellanos v. State (Constitutional Challenge to Proposition 22)
In addition, in January 2021, a petition was filed with the California Supreme Court by several drivers and a labor union alleging that Proposition 22 is unconstitutional, which was denied. The same drivers and labor union have since filed a similar challenge in California Superior Court, and in August 2021, the Alameda County Superior Court ruled that Proposition 22 is unconstitutional. On September 21, 2021, the State of California filed an appeal of that decision with the California Court of Appeal, and the Protect App-Based Drivers and Services organization, who intervened in the matter, has also filed an appeal. Oral argument was heard on December 13, 2022.
On March 13, 2023, the California Court of Appeal overturned the lower court’s ruling that Proposition 22 is unconstitutional, which means that Proposition 22 remains in effect. Service Employees International Union has petitioned the California Supreme Court for review. The California Supreme Court granted review on June 28, 2023, and oral argument was heard on May 21, 2024. On July 25, 2024, the Court unanimously upheld Proposition 22 as constitutional.
Massachusetts Attorney General Lawsuit
On July 9, 2020, the Massachusetts Attorney General filed a complaint in Suffolk County Superior Court against Uber and Lyft. The complaint alleges Drivers are employees, and are entitled to protections under the wage and labor laws. On June 27, 2024, the parties reached an agreement to resolve the matter, and the case was dismissed the same day. The amount accrued for the matter is recorded within accrued and other current liabilities on the condensed consolidated balance sheet as of June 30, 2024.
Swiss Social Security Rulings
Several Swiss administrative bodies have issued decisions in which they classify Drivers or Couriers as employees of Uber for social security or labor purposes. We are challenging each of them before the Social Security and Administrative Tribunals. On March 21, 2023, the Federal Tribunal ruled that Drivers who have used the Uber App in 2014 qualify as employees for social security purposes. The litigations with regards to the social security contributions are still pending for years 2014 to 2021.
On June 3, 2022, the Federal Tribunal issued two rulings by which both Drivers and Couriers in the Canton of Geneva are classified as employees of Uber B.V., Uber Portier B.V. and Uber Switzerland GmbH. Following the ruling of the Federal Tribunal on Eats, the Social Security authorities claimed the payment of social security contributions since the launch of Uber Eats. We reached a settlement with the Canton of Geneva on Mobility with regards to social security implications.
The ultimate resolution of the matters before the social security authorities is uncertain and the amount accrued for those matters is recorded within accrued and other current liabilities on the condensed consolidated balance sheet as of June 30, 2024.
Other Driver Classification Matters
Additionally, we have received other lawsuits and governmental inquiries in other jurisdictions, and anticipate future claims, lawsuits, arbitration proceedings, administrative actions, and government investigations and audits challenging our classification of Drivers as independent contractors and not employees. We believe that our current and historical approach to classification is supported by the law and intend to continue to defend ourselves vigorously in these matters. However, the results of litigation and arbitration are inherently unpredictable and legal proceedings related to these claims, individually or in the aggregate, could have a material impact on our business, financial condition, results of operations and cash flows. Regardless of the outcome, litigation and arbitration of these matters can have an adverse impact on us because of defense and settlement costs individually and in the aggregate, diversion of management resources and other factors.
State Unemployment Taxes
New Jersey Department of Labor
In 2018, the New Jersey Department of Labor (“NJDOL”) opened an audit reviewing whether Drivers were independent contractors or employees for purposes of determining whether unemployment insurance regulations apply from 2014 through 2018. The NJDOL made an assessment on November 12, 2019, against both Rasier and Uber. Both assessments were calculated through November 15, 2019, but only calculated the alleged contributions, penalties, and interests owed from 2014 through 2018. The NJDOL has provided several assessments from February through October 2021. We have submitted payment for the principal revised amount of the assessment and have since reached agreement on and paid the remaining amounts allegedly owed from 2014 through 2018.
The NJ DOL has initiated an audit for the period of 2019 through the second quarter of 2023. The ultimate resolution of the matter is uncertain, and the amount accrued for those matters is recorded within accrued and other current liabilities on the condensed consolidated balance sheet as of June 30, 2024.
California Employment Development Department
In 2014, the California employment development department (“CA EDD”) opened an audit to review whether drivers should be treated as employees or independent contractors. The department issued an assessment in 2016 for the periods of 2013 - 2015 and we have since reached an agreement with the CA EDD for this period. In 2022, we received requests for information related to an audit of a subsequent period, which covers the fourth quarter of 2017 through the fourth quarter of 2020. We have also received an audit for
the years 2018 - 2020 covering couriers who used the Postmates platform and received an assessment in June 2023. We are in the process of appealing the assessment. The ultimate resolution of the matter is uncertain, and the amount accrued for those matters is recorded within accrued and other current liabilities on the condensed consolidated balance sheet as of June 30, 2024.
Other Matters
IPO Securities Litigation
Beginning in September 2019, putative class actions were filed in California state and federal courts against us, our directors, certain of our officers, and the underwriters named in our IPO registration statement, alleging violations of securities laws in connection with our May 2019 IPO. Following dismissal of certain matters, the remaining actions have been consolidated in the Northern District of California, which granted Plaintiffs’ motion for class certification in July 2022. On April 24, 2024, the parties informed the court that they were negotiating a settlement agreement, and the court stayed the litigation. On July 19, 2024, the parties executed and publicly filed a settlement agreement, which remains subject to court approval. Separately, a shareholder filed a follow-on derivative action on behalf of the Company, against the same officers and directors, and that matter has been stayed since February 2021. The ultimate resolution of these matters is uncertain and the amount accrued is recorded within accrued and other current liabilities on the condensed consolidated balance sheet as of June 30, 2024.
Non-Income Tax Matters
We recorded an estimated liability for contingencies related to non-income tax matters and are under audit by various domestic and foreign tax authorities with regard to such matters.
The subject matter of these contingent liabilities and non-income tax audits primarily arise from the characterization for tax purposes of the transactions on the platform, as well as the application of certain employee benefits and employment and income taxes to our Drivers and Couriers. In jurisdictions with disputes connected to transactions on the platform, disputes involve the applicability of transactional taxes (such as sales tax, VAT, GST and similar taxes) or gross receipts taxes. In jurisdictions with disputes connected to employment or income taxes, disputes involve the applicability of withholding taxes related to employment taxes or back-up income tax withholding on payments made to Drivers, Couriers, and Merchants.
Our estimated liability is inherently subjective due to the complexity and uncertainty of these matters and the judicial processes in certain jurisdictions; therefore, the final outcome could be materially different from the estimated liability recorded.
United Kingdom
As of March 14, 2022, we modified our operating model in the UK, such that as of that date Uber UK is a merchant of transportation and is required to remit VAT. Uber UK is remitting VAT under the Value Added (Tour Operators) Order 1987 (“VAT Order 1987”), which allows for VAT remittance on a calculated margin, rather than on Gross Bookings.
We have received multiple assessments from the HMRC disputing our application of VAT Order 1987 for the period of March 2022 to December 2023, totaling approximately $1.2 billion (£957 million) for unpaid VAT. Uber paid the assessments in order to proceed with the appeal process. The payments do not represent our acceptance of the assessments.
The payments made in 2023 and 2024 are recorded as a receivable in other assets on our condensed consolidated balance sheet because we believe that we will be successful in our appeal, upon which, the full amount of our payments will be returned to us with interest upon completion of the appeals process. We expect to receive additional assessments related to this matter and will be required to pay the assessments in order to continue with the appeals process. Any payments are expected to decrease operating cash flow and have no impact on our results of operations. We plan to vigorously defend our application of the VAT Order 1987 and are waiting to obtain hearing dates from the Tax Tribunal.
Brazil
In May 2023, we received an assessment for 2019 and 2020 Driver social security contributions from the Brazilian Federal Revenue Bureau (“FRB”). We are contesting the assessment and we filed our administrative appeal with the FRB in June 2023. In April 2024, we received a positive decision from the FRB. This decision and the subsequent decision can be appealed at multiple levels by the FRB or Uber. Our chances of success on the merits are still uncertain and any reasonably possible loss or range of loss cannot be estimated.
Other Legal and Regulatory Matters
We have been or are currently subject to various government inquiries and investigations surrounding the legality of certain of our business practices, compliance with antitrust, anti-bribery and anti-corruption laws (including the Foreign Corrupt Practices Act) and other global regulatory requirements, labor laws, securities laws, data protection and privacy laws, consumer protection laws, environmental laws, and the infringement of certain intellectual property rights. We are investigating many of these matters and are implementing a number of recommendations to our managerial, operational and compliance practices, as well as strengthening our overall governance structure. In many cases, we are unable to predict the outcomes and implications of these inquiries and investigations on our business, which could be time consuming, costly to investigate, and require significant management attention.
Furthermore, the outcome of these inquiries and investigations could negatively impact our business, reputation, financial condition, and operating results, including possible fines and penalties and requiring changes to operational activities and procedures.
We have been and expect to continue to be subject to personal injury claims for compensation based on traffic accidents, deaths, injuries, or other incidents that are caused by Drivers, consumers, or third parties while using our platform, or even when Drivers, consumers, or third parties are not actively using our platform. Various plaintiffs have also coordinated and may in the future attempt to coordinate individual injury claims in various jurisdictions. We use a combination of third-party insurance and self-insurance mechanisms to provide for personal injury risks. Our insurance reserves include unpaid losses and loss adjustment expenses for risks retained by us related to these claims.
Indemnifications
In the ordinary course of business, we often include standard indemnification provisions in our arrangements with third parties. Pursuant to these provisions, we may be obligated to indemnify such parties for losses or claims suffered or incurred in connection with their activities or non-compliance with certain representations and warranties made by us. In addition, we have entered into indemnification agreements with our officers, directors, and certain current and former employees, and our certificate of incorporation and bylaws contain certain indemnification obligations. It is not possible to determine the maximum potential loss under these indemnification provisions / obligations because of the unique facts and circumstances involved in each particular situation.
v3.24.2.u1
Variable Interest Entities
 6 Months Ended
Jun. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Variable Interest Entities
Note 13 – Variable Interest Entities
Variable interest entities (“VIEs”) are legal entities that lack sufficient equity to finance their activities without future subordinated financial support.
Consolidated VIEs
We consolidate VIEs in which we hold a variable interest and are the primary beneficiary. We are the primary beneficiary because we have the power to direct the activities that most significantly impact the economic performance of these VIEs. As a result, we consolidate the assets and liabilities of these VIEs.
Total assets included on the condensed consolidated balance sheets for our consolidated VIEs as of December 31, 2023 and June 30, 2024 were $3.5 billion and $3.4 billion, respectively. Total liabilities included on the condensed consolidated balance sheets for these VIEs as of December 31, 2023 and June 30, 2024 were $755 million and $789 million, respectively.
Uber Freight Holding Corporation
As of June 30, 2024, we own the majority of the issued and outstanding capital stock of Uber Freight Holding Corporation (“Freight Holding”) and report a non-controlling interest as further described in Note 14 – Non-Controlling Interests.
In February 2023, Freight Holding entered into a $300 million senior secured asset-based revolving credit facility guaranteed by the assets of Freight Holding and is considered non-recourse to us. As of June 30, 2024, there was no balance outstanding on Freight Holding’s revolving credit facility.
Unconsolidated VIEs
We do not consolidate VIEs in which we hold a variable interest but are not the primary beneficiary because we lack the power to direct the activities that most significantly impact the entities’ economic performance. Our carrying amounts of both assets and liabilities recognized on the condensed consolidated balance sheets related to unconsolidated VIEs were $575 million and $541 million as of December 31, 2023 and June 30, 2024, respectively. As of December 31, 2023 and June 30, 2024 our maximum exposure to loss was $686 million and $653 million, respectively. Our maximum exposure to loss includes the carrying amounts of assets and liabilities recognized on our condensed consolidated balance sheets related to the unconsolidated VIEs as well as an immaterial financial guarantee.
Lime
Neutron Holdings, Inc. (“Lime”) is incorporated in Delaware for the purpose of owning and operating a fleet of dockless e-bikes and e-scooters for short-term access use by consumers for personal transportation. In 2020, we entered into a series of transactions and agreements with Lime to divest our JUMP business and acquired ownership in Lime comprised of Lime Common Stock, Lime 1-C Preferred Stock, Lime 1-C Preferred Stock Warrants, and the Lime Convertible Note (collectively, the “2020 Lime Investments”). We are exposed to Lime’s economic risks and rewards through the related carrying amount of assets and liabilities and any financial guarantees, which represent variable interests.
Moove
On February 12, 2021 (the “Moove Closing Date”), we entered into and completed a series of agreements with Garment Investments S.L. dba Moove (“Moove”), a vehicle fleet operator in Spain. The series of agreements included (i) an equity investment, through preferred shares, in which Uber acquired a 30% minority interest in Moove from its current shareholders at closing and up to approximately $185 million contingent on future performance of Moove and certain other conditions through the eighth anniversary of
the agreement, (ii) a term loan of $213 million to Moove, due February 2026, and (iii) a commercial partnership agreement. Also included in the agreements is an option for us to purchase common stock of Moove at fair value, beginning two years after the Moove Closing Date. As of June 30, 2024, we have not exercised this option. After this series of agreements, Moove is considered a related party.
In February 2023, we entered into a settlement and amendment agreement (“Moove Settlement”) with Moove, a related party, to settle certain contingent considerations agreements. As a result of the Moove Settlement, we made an immaterial payment to Moove. The remaining contingent liability was recorded within accrued and other current liabilities on our condensed consolidated balance sheet and was not material. The contingent liability was paid in January 2024.
Our equity investment in Moove, through preferred shares, is accounted for as an investment in non-marketable equity securities included in investments on our condensed consolidated balance sheets. The term loan, of $275 million as of June 30, 2024, is accounted for as a loan receivable, carried at amortized cost, and included in other assets on our condensed consolidated balance sheets. Refer to Note 3 – Investments and Fair Value Measurement, Assets Measured at Fair Value on a Non-Recurring Basis, for additional information regarding our non-marketable equity securities.
Moove is a VIE as it lacks sufficient equity to finance its activities without future subordinated financial support. We are exposed to Moove’s economic risks and rewards through the related carrying amount of assets and liabilities and any financial guarantees, which represent variable interests.
v3.24.2.u1
Non-Controlling Interests
 6 Months Ended
Jun. 30, 2024
Noncontrolling Interest [Abstract]  
Non-Controlling Interests
Note 14 – Non-Controlling Interests
Freight Holding
As of both December 31, 2023 and June 30, 2024, we owned 74% of our subsidiary Freight Holding’s capital stock, or 72% and 71%, respectively, on a fully-diluted basis. The minority stockholders of Freight Holding include, among others: (i) holders of Freight Holding’s Series A and A-1 Preferred Stock; (ii) holders of common equity awards issued under the employee equity incentive plans; and (iii) current and former employees who hold fully vested shares.
Freight Holding Supplier Financing Program
Freight Holding utilizes a third-party financial institution that allows our suppliers to be paid by the third-party financial institution earlier than the due date on the applicable invoice at a discounted price. In general, supplier invoices financed by the third-party financial institution are due for payment by Freight Holding within thirty days. As of December 31, 2023 and June 30, 2024, the liability related to the supplier financing program was immaterial and the amounts are included within accounts payable on the condensed consolidated balance sheets.
Freight Series A Preferred Stock
In October 2020, Freight Holding entered into a Series A preferred stock purchase agreement (“2020 Freight Series A Preferred Stock Purchase Agreement”) with an outside investor (“2020 Freight Series A Investor”) to sell shares of Series A Preferred Stock (“Freight Series A”). Pursuant to the 2020 Freight Series A Preferred Stock Purchase Agreement, the 2020 Freight Series A Investor agreed to invest an aggregate of $500 million in Freight Holding, which occurred over two closings. The 2020 Freight Series A Investor is considered a related party to Freight Holding.
We do not attribute the pro rata share of the Freight Holding’s loss to the redeemable non-controlling interests in Series A Preferred shares of Freight Holding because these shares are entitled to a liquidation preference and therefore do not participate in losses that would cause their interest to be below the liquidation preference. Upon liquidation, these Freight Series A preferred stock are entitled to the greater of either (i) a 1.5x liquidation preference on their initial investment, as well as 6% continuously compounding cumulative dividends that will be paid before any distribution to common shareholders or (ii) the fair value of their investment (the “Freight Series A Liquidation Preference”). The dividend, along with any attributed prorated share of Freight Holding’s net income (if applicable), are included in net income (loss) attributable to non-controlling interests, net of tax in our consolidated statements of operations.
The 2020 Freight Series A Investor’s Freight Series A preferred stock may be called by us at our option after October 2025 at the Freight Series A Liquidation Preference. Beginning after October 2023, if certain events have not occurred including Freight Holding consummating an IPO, 2020 Freight Series A Investor’s Freight Series A preferred stock could become redeemable by us at the Freight Series A Liquidation Preference. Upon redemption, the 2020 Freight Series A Investor’s Freight Series A preferred stock would be settled in either cash or Uber common shares at our option.
On October 6, 2023, the 2020 Freight Series A Investor exercised their right to require that either Freight Holding conduct an IPO or we redeem them at the Freight Series A Liquidation Preference, amounting to $849 million. Upon the redemption date in October 2024, we expect to settle the 2020 Freight Series A Investor’s Freight Series A preferred stock in cash.
v3.24.2.u1
Pay vs Performance Disclosure - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Pay vs Performance Disclosure        
Net Income (Loss) Attributable to Parent $ 1,015 $ 394 $ 361 $ 237
v3.24.2.u1
Insider Trading Arrangements
 3 Months Ended 6 Months Ended
Jun. 30, 2024
shares
Jun. 30, 2024
shares
Trading Arrangements, by Individual    
Rule 10b5-1 Arrangement Adopted false  
Non-Rule 10b5-1 Arrangement Adopted false  
Non-Rule 10b5-1 Arrangement Terminated false  
Tony West [Member]    
Trading Arrangements, by Individual    
Material Terms of Trading Arrangement  
On June 5, 2024, Tony West, Chief Legal Officer and Corporate Secretary, terminated his pre-arranged stock trading plan which was adopted on June 16, 2023. The trading plan was intended to satisfy the affirmative defense of Rule 10b5-1(c) under the Securities Exchange Act of 1934, as amended. Mr. West’s plan provided for the potential sale of up to 75,000 shares of Uber common stock between November 10, 2023 and September 30, 2024.
Name Tony West  
Title Chief Legal Officer and Corporate Secretary  
Rule 10b5-1 Arrangement Terminated true  
Termination Date June 5, 2024  
Aggregate Available 75,000 75,000
v3.24.2.u1
Description of Business and Summary of Significant Accounting Policies (Policies)
 6 Months Ended
Jun. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Basis of Presentation
Basis of Presentation
The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States (“GAAP”) and applicable rules and regulations of the Securities and Exchange Commission (“SEC”) regarding interim financial reporting. The condensed consolidated balance sheet as of December 31, 2023 included herein was derived from the audited consolidated financial statements as of that date. Certain information and note disclosures normally included in the financial statements prepared in accordance with GAAP have been condensed or omitted pursuant to such rules and regulations. As such, the information included in this Quarterly Report on Form 10-Q should be read in conjunction with the audited consolidated financial statements and the related notes thereto as of and for the year ended December 31, 2023, included in our Annual Report on Form 10-K. The results for the interim periods are not necessarily indicative of results for the full year.
In the opinion of management, these financial statements include all adjustments, which are of a normal recurring nature, necessary for a fair statement of the financial position, results of operations, comprehensive income (loss), cash flows and the change in equity for the periods presented.
There have been no changes to our significant accounting policies described in our Annual Report on Form 10-K for the year ended December 31, 2023 filed with the SEC on February 15, 2024 that have had a material impact on our condensed consolidated financial statements and related notes.
Basis of Consolidation
Basis of Consolidation
Our condensed consolidated financial statements include the accounts of Uber Technologies, Inc. and entities consolidated under the variable interest and voting models. All intercompany balances and transactions have been eliminated. Refer to Note 13 – Variable Interest Entities for further information.
Use of Estimates
Use of Estimates
The preparation of our unaudited condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions, which affect the reported amounts in the financial statements and accompanying notes. Estimates are based on historical experience, where applicable, and other assumptions which management believes are reasonable under the circumstances. On an ongoing basis, management evaluates estimates, including, but not limited to: fair values of investments and other financial instruments (including the measurement of credit or impairment losses); useful lives of amortizable long-lived assets; fair value of acquired intangible assets and related impairment assessments; impairment of goodwill; stock-based compensation; income taxes and non-income tax reserves; certain deferred tax assets and tax liabilities; insurance reserves; and other contingent liabilities. These estimates are inherently subject to judgment and actual results could differ from those estimates.
Recently Adopted Accounting Pronouncements and Recently Issued Accounting Pronouncements Not Yet Adopted
Recently Adopted Accounting Pronouncements
In June 2022, the FASB issued ASU 2022-03, “Fair Value Measurement (Topic 820): Fair Value Measurement of Equity Securities Subject to Contractual Sale Restrictions,” which clarifies that contractual sale restrictions are not considered in measuring fair value of equity securities and requires additional disclosures for equity securities subject to contractual sale restrictions. The standard is effective for public companies for fiscal years beginning after December 15, 2023. We adopted the ASU on January 1, 2024. The additional required disclosures did not have a material impact on our condensed consolidated financial statements.
Recently Issued Accounting Pronouncements Not Yet Adopted
In November 2023, the FASB issued ASU 2023-07, “Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures,” which will add required disclosures of significant expenses for each reportable segment, as well as certain other disclosures to help investors understand how the chief operating decision maker (“CODM”) evaluates segment expenses and operating results. The new standard will also allow disclosure of multiple measures of segment profitability, if those measures are used to allocate resources and assess performance. The amendments will be effective for public companies for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024. Early adoption is permitted. We are currently evaluating the impact of this accounting standard update on our consolidated financial statement disclosures.
In December 2023, the FASB issued ASU 2023-09, “Income Taxes (Topic 740): Improvements to Income Tax Disclosures,” which requires disaggregated information about a reporting entity’s effective tax rate reconciliation as well as information on income taxes paid. The standard is intended to benefit investors by providing more detailed income tax disclosures that would be useful in making capital allocation decisions. The standard will be effective for public companies for fiscal years beginning after December 15, 2024. Early adoption is permitted. We are currently evaluating the impact of this accounting standard update on our consolidated financial statement disclosures.
Net Income (Loss) Per Share
Basic net income (loss) per share is computed by dividing net income (loss) by the weighted-average number of common shares outstanding for the periods presented. Diluted net income (loss) per share is computed by giving effect to all potential weighted average dilutive common stock. For diluted net income (loss) per share, the dilutive effect of outstanding awards is reflected by application of the treasury stock method and convertible securities by application of the if-converted method, as applicable.
We take into account the effect on consolidated net income (loss) per share of dilutive securities of entities in which we hold equity interests that are accounted for using the equity method.
v3.24.2.u1
Revenue (Tables)
 6 Months Ended
Jun. 30, 2024
Revenue from Contract with Customer [Abstract]  
Schedule of Disaggregation of Revenue
The following tables present our revenues disaggregated by offering and geographical region. Revenue by geographical region is based on where the transaction occurred. This level of disaggregation takes into consideration how the nature, amount, timing, and uncertainty of revenue and cash flows are affected by economic factors (in millions):
Three Months Ended June 30,Six Months Ended June 30,
2023202420232024
Mobility revenue (1)
$4,894 $6,134 $9,224 $11,767 
Delivery revenue (1)
3,057 3,293 6,150 6,507 
Freight revenue1,279 1,273 2,679 2,557 
Total revenue$9,230 $10,700 $18,053 $20,831 
(1) We offer subscription memberships to end-users including Uber One, Uber Pass, Rides Pass, and Eats Pass (“Subscription”). We recognize Subscription fees ratably over the life of the pass. We allocate Subscription fees earned to Mobility and Delivery revenue on a proportional basis, based on usage for each offering during the respective period.
Three Months Ended June 30,Six Months Ended June 30,
2023202420232024
United States and Canada ("US&CAN")$5,129 $5,825 $10,261 $11,298 
Latin America ("LatAm")627 679 1,192 1,389 
Europe, Middle East and Africa ("EMEA")2,412 2,987 4,506 5,743 
Asia Pacific ("APAC")1,062 1,209 2,094 2,401 
Total revenue$9,230 $10,700 $18,053 $20,831 
v3.24.2.u1
Investments and Fair Value Measurement (Tables)
 6 Months Ended
Jun. 30, 2024
Fair Value Disclosures [Abstract]  
Marketable and Non-Marketable Securities
Our investments on the condensed consolidated balance sheets consisted of the following (in millions):
As of
December 31, 2023June 30, 2024
Classified as short-term investments:
Marketable debt securities (1):
U.S. government and agency securities$253 $437 
Commercial paper288 581 
Corporate bonds181 770 
Certificates of deposit5 7 
Short-term investments$727 $1,795 
Classified as restricted investments:
Marketable debt securities (1):
U.S. government and agency securities$4,426 $4,783 
Commercial paper17 15 
Corporate bonds77 165 
Certificates of deposit259 98 
Restricted investments$4,779 $5,061 
Classified as investments:
Non-marketable equity securities:
Didi$2,245 $2,354 
Other (2)
329 575 
Marketable equity securities:
Grab1,806 1,902 
Aurora (3)
1,425 903 
Other170 342 
Note receivable from a related party (2)
126 127 
Investments$6,101 $6,203 
(1) Excluding marketable debt securities classified as cash equivalents and restricted cash equivalents.
(2) These balances include certain investments recorded at fair value with changes in fair value recorded in earnings due to the election of the fair value option of accounting for financial instruments.
(3) In connection with Aurora’s November 2021 initial public offering, we are subject to a lock-up agreement in which our ability to sell or transfer our shares in Aurora is partially restricted until November 2025.
Schedule of Assets and Liabilities Measured on Recurring Basis
The following table presents our financial assets and liabilities measured at fair value on a recurring basis based on the three-tier fair value hierarchy (in millions):
As of December 31, 2023As of June 30, 2024
Level 1Level 2Level 3TotalLevel 1Level 2Level 3Total
Financial Assets
Money market funds$1,153 $— $— $1,153 $1,059 $— $— $1,059 
U.S. government and agency securities— 4,840 — 4,840 — 5,381 — 5,381 
Commercial paper— 351 — 351 — 789 — 789 
Corporate bonds— 263 — 263 — 940 — 940 
Certificates of deposit— 266 — 266 — 104 — 104 
Non-marketable equity securities— — — — — — 3 3 
Marketable equity securities3,401 — — 3,401 3,147 — — 3,147 
Note receivable from a related party— — 126 126 — — 127 127 
Total financial assets$4,554 $5,720 $126 $10,400 $4,206 $7,214 $130 $11,550 
During the six months ended June 30, 2024, we did not make any transfers into or out of Level 3 of the fair value hierarchy.
Debt Securities
Schedule of Reconciliation Using Significant Unobservable Inputs, Assets
The following table presents a reconciliation of our financial assets measured and recorded at fair value on a recurring basis as of June 30, 2024, using significant unobservable inputs (Level 3) (in millions):
Non-marketable Equity SecuritiesNote Receivable
Balance as of December 31, 2023$— $126 
Change in fair value
Included in earnings3 1 
Balance as of June 30, 2024$3 $127 
Schedule of Securities without Readily Determinable Fair Value
The following table summarizes the total carrying value of our non-marketable equity securities measured at fair value on a non-recurring basis held, including cumulative unrealized upward and downward adjustments made to the initial cost basis of the securities (in millions):
As of
December 31, 2023June 30, 2024
Initial cost basis$1,727 $1,973 
Upward adjustments1,960 2,136 
Downward adjustments (including impairment)(1,113)(1,183)
Total carrying value at the end of the period$2,574 $2,926 
v3.24.2.u1
Equity Method Investments (Tables)
 6 Months Ended
Jun. 30, 2024
Equity Method Investments and Joint Ventures [Abstract]  
Schedule of Equity Method Investments
The carrying value of our equity method investments were as follows (in millions):
As of
December 31, 2023June 30, 2024
Careem Technologies$300 $274 
Other53 68 
Total equity method investments$353 $342 
v3.24.2.u1
Goodwill and Intangible Assets (Tables)
 6 Months Ended
Jun. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Changes in the Carrying Value of Goodwill by Segment
The following table presents the changes in the carrying value of goodwill by segment for the six months ended June 30, 2024 (in millions):
MobilityDeliveryFreightTotal Goodwill
Balance as of December 31, 2023$2,337 $4,369 $1,445 $8,151 
Foreign currency translation adjustment(65)— (3)(68)
Balance as of June 30, 2024$2,272 $4,369 $1,442 $8,083 
Components of Intangible Assets, Net
The components of intangible assets, net were as follows (in millions, except years):
Gross Carrying ValueAccumulated AmortizationNet Carrying ValueWeighted Average Remaining Useful Life - Years
December 31, 2023
Consumer, Merchant and other relationships$1,800 $(697)$1,103 8
Developed technology890 (621)269 5
Trade name, trademarks and other154 (101)53 4
Intangible assets$2,844 $(1,419)$1,425 
Gross Carrying Value
Accumulated Amortization
Net Carrying Value
Weighted Average Remaining Useful Life - Years
June 30, 2024
Consumer, Merchant and other relationships$1,790 $(790)$1,000 8
Developed technology890 (663)227 4
Trade name, trademarks and other146 (108)38 4
Intangible assets$2,826 $(1,561)$1,265 
Estimated Aggregate Amortization Expense for Intangible Assets Subject to Amortization
The estimated aggregate future amortization expense for intangible assets subject to amortization as of June 30, 2024 is summarized below (in millions):
Estimated Future Amortization Expense
Year Ending December 31,
Remainder of 2024$136 
2025248 
2026186 
2027171 
2028127 
Thereafter395 
Total$1,263 
v3.24.2.u1
Long-Term Debt and Revolving Credit Arrangements (Tables)
 6 Months Ended
Jun. 30, 2024
Debt Disclosure [Abstract]  
Schedule of Components of Debt
Components of debt, including the associated effective interest rates and maturities were as follows (in millions, except for percentages):
As of
December 31, 2023June 30, 2024Effective Interest RatesMaturities
2030 Refinanced Term Loans$1,986 $1,973 8.2 %March 3, 2030
2026 Senior Note1,500 1,500 8.1 %November 1, 2026
2027 Senior Note1,200 1,200 7.7 %September 15, 2027
2028 Senior Note500 500 7.0 %January 15, 2028
2029 Senior Note1,500 1,500 4.7 %August 15, 2029
2025 Convertible Notes1,150 1,150 0.2 %December 15, 2025
2028 Convertible Note1,725 1,725 1.1 %December 1, 2028
Total debt9,561 9,548 
Less: unamortized discount and issuance costs(77)(69)
Less: current portion of long-term debt(25)(25)
Total long-term debt$9,459 $9,454 
Fair Value of Senior Notes
The following table presents the fair values of our Senior Notes as of June 30, 2024, and were determined based on quoted prices in markets that are not active, which is considered a Level 2 valuation input (in millions):
As of June 30, 2024
2026 Senior Note$1,512 
2027 Senior Note1,224 
2028 Senior Note500 
2029 Senior Note1,427 
Total$4,663 
Schedule of Debt Expense
The following table presents the amount of interest expense recognized relating to the contractual interest coupon and amortization of the debt discount and issuance costs with respect to our long-term debt, for the three and six months ended June 30, 2023 and 2024 (in millions):
Three Months Ended June 30,Six Months Ended June 30,
2023202420232024
Contractual interest coupon$145 $124 $292 $247 
Amortization of debt discount and issuance costs3 4 10 8 
Total interest expense from long-term debt$148 $128 $302 $255 
v3.24.2.u1
Supplemental Financial Statement Information (Tables)
 6 Months Ended
Jun. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Schedule of Prepaid Expenses and Other Current Assets
Prepaid expenses and other current assets were as follows (in millions):
As of
December 31, 2023June 30, 2024
Prepaid expenses$400 $364 
Other receivables717 589 
Other564 679 
Prepaid expenses and other current assets$1,681 $1,632 
Schedule of Accrued and Other Current Liabilities
Accrued and other current liabilities were as follows (in millions):
As of
December 31, 2023June 30, 2024
Accrued legal, regulatory and non-income taxes$1,044 $1,411 
Accrued Drivers and Merchants liability1,996 2,377 
Accrued compensation and employee benefits710 410 
Income and other tax liabilities684 652 
Commitment to issue unsecured convertible notes in connection with Careem acquisition128 128 
Other1,896 2,003 
Accrued and other current liabilities$6,458 $6,981 
Schedule of Other Long-Term Liabilities
Other long-term liabilities were as follows (in millions):
As of
December 31, 2023June 30, 2024
Deferred tax liabilities$56 $35 
Other776 699 
Other long-term liabilities$832 $734 
Schedule of Accumulated Other Comprehensive Income (Loss)
The changes in composition of accumulated other comprehensive income (loss), net of tax, were as follows (in millions):
Foreign Currency Translation AdjustmentsUnrealized Gains (Losses) on Available-for-Sale Securities, Net of TaxTotal
Balance as of December 31, 2022$(443)$— $(443)
Other comprehensive income (loss) before reclassifications(138)(2)(140)
Amounts reclassified from accumulated other comprehensive income (loss) (1)
140 — 140 
Other comprehensive income (loss)2 (2)— 
Balance as of June 30, 2023$(441)$(2)$(443)
(1) The amounts were reported as part of the loss from the sale of our remaining interest in MLU B.V., which was recorded in other income (expense), net in our condensed consolidated statements of operations during the three and six months ended June 30, 2023. Refer to Note 4 – Equity Method Investments for further information.
Foreign Currency Translation AdjustmentsUnrealized Gains (Losses) on Available-for-Sale Securities, Net of TaxTotal
Balance as of December 31, 2023$(426)$5 $(421)
Other comprehensive income (loss) before reclassifications(49)(9)(58)
Amounts reclassified from accumulated other comprehensive income (loss)— — — 
Other comprehensive income (loss)(49)(9)(58)
Balance as of June 30, 2024$(475)$(4)$(479)
Other Income (Expense), Net
The components of other income (expense), net were as follows (in millions):
Three Months Ended June 30,Six Months Ended June 30,
2023202420232024
Interest income$107 $176 $194 $335 
Foreign currency exchange gains (losses), net1 (83)(93)(247)
Unrealized gain (loss) on debt and equity securities, net (1)
386 333 706 (388)
Loss from sale of investment (2)
(74)— (74)— 
Other, net(147)(6)(168)42 
Other income (expense), net$273 $420 $565 $(258)
(1) During the three and six months ended June 30, 2023, unrealized gain on debt and equity securities, net represents changes in the fair value of our equity securities, primarily including: a $466 million and $521 million unrealized gain on our Aurora investment, respectively; a $151 million and $177 million unrealized gain on our Joby investment, respectively; a $225 million and $113 million unrealized gain on our Grab investment, respectively; partially offset by a $461 million and $104 million unrealized loss on our Didi investment, respectively.
During the three months ended June 30, 2024, unrealized gain on debt and equity securities, net represents changes in the fair value of our equity securities, primarily including: a $220 million unrealized gain on our Grab investment, and a $178 million unrealized gain on our Didi investment.
During the six months ended June 30, 2024, unrealized loss on debt and equity securities, net represents changes in the fair value of our equity securities, primarily including: a $522 million unrealized loss on our Aurora investment; partially offset by a $109 million gain on our Didi investment and a $96 million gain on our Grab investment.
(2) Refer to Note 4 – Equity Method Investments for further information.
v3.24.2.u1
Stockholders' Equity (Tables)
 6 Months Ended
Jun. 30, 2024
Equity [Abstract]  
Summary of Stock Options and SAR Activity
A summary of stock option and SAR activity for the six months ended June 30, 2024 is as follows (in millions, except share amounts which are reflected in thousands, per share amounts, and years):
SARs Outstanding Number of SARsOptions Outstanding Number of SharesWeighted-Average Exercise Price Per ShareWeighted-Average Remaining Contractual Life (in years)Aggregate Intrinsic Value
As of December 31, 2023123 12,641 $20.03 2.79$535 
Granted— 227 $81.03 
Exercised(71)(5,206)$17.77 
Canceled and forfeited— (520)$33.08 
As of June 30, 202452 7,142 $22.47 3.09$363 
Vested and expected to vest as of June 30, 202452 6,067 $19.00 2.60$328 
Exercisable as of June 30, 202452 6,067 $19.00 2.60$328 
Schedule of Restricted Stock Units Activity
The following table summarizes the activity related to our RSUs for the six months ended June 30, 2024 (in thousands, except per share amounts):
Number of SharesWeighted-Average
 Grant-Date Fair
 Value per Share
Unvested and outstanding as of December 31, 202390,827 $34.49 
Granted24,198 $75.55 
Vested(23,702)$37.08 
Canceled and forfeited(5,864)$37.97 
Unvested and outstanding as of June 30, 202485,459 $45.34 
Schedule of Stock-Based Compensation Expense by Function The following table summarizes total stock-based compensation expense by function (in millions):
Three Months Ended June 30,Six Months Ended June 30,
2023202420232024
Operations and support$45 $54 $83 $121 
Sales and marketing26 24 50 45 
Research and development317 277 607 576 
General and administrative116 100 234 197 
Total$504 $455 $974 $939 
v3.24.2.u1
Net Income (Loss) Per Share (Tables)
 6 Months Ended
Jun. 30, 2024
Earnings Per Share [Abstract]  
Schedule of Basic and Diluted Net Income (Loss) Per Share
The following table sets forth the computation of basic and diluted net income (loss) per share attributable to common stockholders (in millions, except share amounts which are reflected in thousands, and per share amounts):
Three Months Ended June 30,Six Months Ended June 30,
2023202420232024
Basic net income per share:
Numerator
Net income including non-controlling interests$394 $1,008 $237 $345 
Net loss attributable to non-controlling interests, net of tax— (7)— (16)
          Net income attributable to common stockholders$394 $1,015 $237 $361 
Denominator
Basic weighted-average common stock outstanding2,026,813 2,092,180 2,018,233 2,085,324 
Basic net income per share attributable to common stockholders (1)
$0.19 $0.49 $0.12 $0.17 
Diluted net income per share:
Numerator
     Net income attributable to common stockholders$394 $1,015 $237 $361 
Assumed net loss attributable to Uber Technologies, Inc. upon redemption of Freight Holding convertible common shares, non-controlling interest(14)(14)(28)(30)
Interest expense, amortization of debt discount and issuance costs of 2025 Convertible Notes
1 — 1 — 
     Diluted net income attributable to common stockholders$381 $1,001 $210 $331 
Denominator
     Number of shares used in basic net income per share computation2,026,813 2,092,180 2,018,233 2,085,324 
     Weighted-average effect of potentially dilutive securities:
Stock options10,163 5,740 10,365 6,509 
RSUs20,891 37,161 15,468 41,426 
Assumed common shares issued from outstanding RSAs91 — 61 74 
Warrants73 73 73 73 
Common shares issued for ESPP735 586 745 787 
Assumed redemption of Freight Holding convertible common shares, non-controlling interest3,502 1,333 4,318 1,701 
Assumed redemption of Freight Series A contingently redeemable preferred stock, non-controlling interest— 10,625 — 13,432 
2025 Convertible Notes14,226 — 14,226 — 
Careem Notes2,771 2,321 2,771 2,321 
     Diluted weighted-average common stock outstanding2,079,265 2,150,019 2,066,260 2,151,647 
Diluted net income per share attributable to common stockholders (1)
$0.18 $0.47 $0.10 $0.15 
(1) Per share amounts are calculated using unrounded numbers and therefore may not recalculate.
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share
The following potentially dilutive outstanding securities were excluded from the computation of diluted net income (loss) per share because their effect would have been anti-dilutive for the periods presented, or issuance of such shares is contingent upon the satisfaction of certain conditions which were not satisfied by the end of the period (in thousands):
Three Months Ended June 30,Six Months Ended June 30,
2023202420232024
Freight Series A contingently redeemable preferred stock19,244 — 19,244 — 
RSUs15,530 21,381 15,530 21,381 
Stock options2,934 227 2,934 227 
Common stock subject to repurchase1,461 — 1,461 — 
Shares committed under ESPP3,048 1,320 3,048 1,320 
Total42,217 22,928 42,217 22,928 
v3.24.2.u1
Segment Information and Geographic Information (Tables)
 6 Months Ended
Jun. 30, 2024
Segment Reporting [Abstract]  
Schedule of Segment Reporting Information
The following table provides information about our segments and a reconciliation of total Segment Adjusted EBITDA to income from operations (in millions):
Three Months Ended June 30,Six Months Ended June 30,
2023202420232024
Segment Adjusted EBITDA:
Mobility$1,170 $1,567 $2,230 $3,046 
Delivery329 588 617 1,116 
Freight(14)(12)(37)(33)
Total Segment Adjusted EBITDA1,485 2,143 2,810 4,129 
Reconciling items:
Corporate G&A and Platform R&D (1)
(569)(573)(1,133)(1,177)
Depreciation and amortization(208)(173)(415)(363)
Stock-based compensation expense(504)(455)(974)(939)
Legal, tax, and regulatory reserve changes and settlements (2)
155 (134)(95)(661)
Goodwill and asset impairments/loss on sale of assets(16)— (83)3 
Acquisition, financing and divestitures related expenses(10)(3)(18)(8)
Gain on lease arrangement, net
2 — 3 — 
Restructuring and related charges(9)(9)(31)(16)
Income from operations$326 $796 $64 $968 
(1) Includes costs that are not directly attributable to our reportable segments. Corporate G&A also includes certain shared costs such as finance, accounting, tax, human resources, information technology and legal costs. Platform R&D also includes mapping and payment technologies and support and development of the internal technology infrastructure. Our allocation methodology is periodically evaluated and may change.
(2) Legal, tax, and regulatory reserve changes and settlements are primarily related to certain significant legal proceedings or governmental investigations related to worker classification definitions, or tax agencies challenging our non-income tax positions. These matters have limited precedent, cover extended historical periods and are unpredictable in both magnitude and timing, therefore
are distinct from normal, recurring legal, tax and regulatory matters and related expenses incurred in our ongoing operating performance.
v3.24.2.u1
Description of Business and Summary of Significant Accounting Policies (Details) - Uber - Delivery Hero, Foodpanda Taiwan - Forecast
$ in Millions
 6 Months Ended
Jun. 30, 2025
USD ($)
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]  
Interest acquired (in percent) 100.00%
Contribution to a joint venture $ 950
v3.24.2.u1
Revenue - Schedule of Disaggregation of Revenue (Details) - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Disaggregation of Revenue [Line Items]        
Revenue $ 10,700 $ 9,230 $ 20,831 $ 18,053
United States and Canada ("US&CAN")        
Disaggregation of Revenue [Line Items]        
Revenue 5,825 5,129 11,298 10,261
Latin America ("LatAm")        
Disaggregation of Revenue [Line Items]        
Revenue 679 627 1,389 1,192
Europe, Middle East and Africa ("EMEA")        
Disaggregation of Revenue [Line Items]        
Revenue 2,987 2,412 5,743 4,506
Asia Pacific ("APAC")        
Disaggregation of Revenue [Line Items]        
Revenue 1,209 1,062 2,401 2,094
Mobility revenue        
Disaggregation of Revenue [Line Items]        
Revenue 6,134 4,894 11,767 9,224
Delivery revenue        
Disaggregation of Revenue [Line Items]        
Revenue 3,293 3,057 6,507 6,150
Freight revenue        
Disaggregation of Revenue [Line Items]        
Revenue $ 1,273 $ 1,279 $ 2,557 $ 2,679
v3.24.2.u1
Investments and Fair Value Measurement - Investments (Details) - USD ($)
$ in Millions
Jun. 30, 2024
Dec. 31, 2023
Marketable Securities [Line Items]    
Short-term investments $ 1,795 $ 727
Restricted investments 5,061 4,779
Investments 6,203 6,101
Related Party    
Marketable Securities [Line Items]    
Note receivable from a related party 127 126
U.S. government and agency securities    
Marketable Securities [Line Items]    
Short-term investments 437 253
Restricted investments 4,783 4,426
Commercial paper    
Marketable Securities [Line Items]    
Short-term investments 581 288
Restricted investments 15 17
Corporate bonds    
Marketable Securities [Line Items]    
Short-term investments 770 181
Restricted investments 165 77
Certificates of deposit    
Marketable Securities [Line Items]    
Short-term investments 7 5
Restricted investments 98 259
Didi    
Marketable Securities [Line Items]    
Non-marketable equity securities: 2,354 2,245
Grab    
Marketable Securities [Line Items]    
Marketable equity securities: 1,902 1,806
Aurora    
Marketable Securities [Line Items]    
Marketable equity securities: 903 1,425
Other    
Marketable Securities [Line Items]    
Non-marketable equity securities: 575 329
Marketable equity securities: $ 342 $ 170
v3.24.2.u1
Investments and Fair Value Measurement - Fair Value on a Recurring Basis (Details) - USD ($)
$ in Millions
Jun. 30, 2024
Dec. 31, 2023
Financial Assets    
Non-marketable equity securities $ 2,926 $ 2,574
Recurring    
Financial Assets    
Non-marketable equity securities 3 0
Marketable equity securities 3,147 3,401
Note receivable from a related party 127 126
Total financial assets 11,550 10,400
Recurring | Money market funds    
Financial Assets    
Money market funds 1,059 1,153
Recurring | U.S. government and agency securities    
Financial Assets    
Debt securities available-for-sale 5,381 4,840
Recurring | Commercial paper    
Financial Assets    
Debt securities available-for-sale 789 351
Recurring | Corporate bonds    
Financial Assets    
Debt securities available-for-sale 940 263
Recurring | Certificates of deposit    
Financial Assets    
Debt securities available-for-sale 104 266
Recurring | Level 1    
Financial Assets    
Non-marketable equity securities 0 0
Marketable equity securities 3,147 3,401
Note receivable from a related party 0 0
Total financial assets 4,206 4,554
Recurring | Level 1 | Money market funds    
Financial Assets    
Money market funds 1,059 1,153
Recurring | Level 1 | U.S. government and agency securities    
Financial Assets    
Debt securities available-for-sale 0 0
Recurring | Level 1 | Commercial paper    
Financial Assets    
Debt securities available-for-sale 0 0
Recurring | Level 1 | Corporate bonds    
Financial Assets    
Debt securities available-for-sale 0 0
Recurring | Level 1 | Certificates of deposit    
Financial Assets    
Debt securities available-for-sale 0 0
Recurring | Level 2    
Financial Assets    
Non-marketable equity securities 0 0
Marketable equity securities 0 0
Note receivable from a related party 0 0
Total financial assets 7,214 5,720
Recurring | Level 2 | Money market funds    
Financial Assets    
Money market funds 0 0
Recurring | Level 2 | U.S. government and agency securities    
Financial Assets    
Debt securities available-for-sale 5,381 4,840
Recurring | Level 2 | Commercial paper    
Financial Assets    
Debt securities available-for-sale 789 351
Recurring | Level 2 | Corporate bonds    
Financial Assets    
Debt securities available-for-sale 940 263
Recurring | Level 2 | Certificates of deposit    
Financial Assets    
Debt securities available-for-sale 104 266
Recurring | Level 3    
Financial Assets    
Non-marketable equity securities 3 0
Marketable equity securities 0 0
Note receivable from a related party 127 126
Total financial assets 130 126
Recurring | Level 3 | Money market funds    
Financial Assets    
Money market funds 0 0
Recurring | Level 3 | U.S. government and agency securities    
Financial Assets    
Debt securities available-for-sale 0 0
Recurring | Level 3 | Commercial paper    
Financial Assets    
Debt securities available-for-sale 0 0
Recurring | Level 3 | Corporate bonds    
Financial Assets    
Debt securities available-for-sale 0 0
Recurring | Level 3 | Certificates of deposit    
Financial Assets    
Debt securities available-for-sale $ 0 $ 0
v3.24.2.u1
Investments and Fair Value Measurement - Fair Value of Unobservable Inputs, Assets (Details)
$ in Millions
 6 Months Ended
Jun. 30, 2024
USD ($)
Non-marketable Equity Securities  
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]  
Beginning balance $ 0
Change in fair value  
Included in earnings 3
Ending balance 3
Note Receivable  
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]  
Beginning balance 126
Change in fair value  
Included in earnings 1
Ending balance $ 127
v3.24.2.u1
Investments and Fair Value Measurement - Narrative (Details) - USD ($)
shares in Millions, $ in Millions
 1 Months Ended 3 Months Ended 6 Months Ended
May 31, 2024
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Not Designated as Hedging Instrument          
Marketable Securities [Line Items]          
Notional amount   $ 810   $ 810  
Delivery Hero          
Marketable Securities [Line Items]          
Equity securities $ 300        
Ordinary shares purchased (in shares) 8.4        
Didi          
Marketable Securities [Line Items]          
Unrealized gain (loss) on investments   $ 178 $ (461) $ 109 $ (104)
v3.24.2.u1
Investments and Fair Value Measurement - Change In Equity Securities (Details) - USD ($)
$ in Millions
Jun. 30, 2024
Dec. 31, 2023
Fair Value Disclosures [Abstract]    
Initial cost basis $ 1,973 $ 1,727
Upward adjustments 2,136 1,960
Downward adjustments (including impairment) (1,183) (1,113)
Non-marketable equity securities $ 2,926 $ 2,574
v3.24.2.u1
Equity Method Investments - Carrying Value (Details) - USD ($)
$ in Millions
Jun. 30, 2024
Dec. 31, 2023
Schedule of Equity Method Investments [Line Items]    
Equity method investments $ 342 $ 353
Careem Technologies    
Schedule of Equity Method Investments [Line Items]    
Equity method investments 274 300
Other    
Schedule of Equity Method Investments [Line Items]    
Equity method investments $ 68 $ 53
v3.24.2.u1
Equity Method Investments - Narrative (Details) - USD ($)
$ in Millions
 6 Months Ended
Apr. 21, 2023
Jun. 30, 2024
Jun. 30, 2023
Schedule of Equity Method Investments [Line Items]      
Proceeds from sale of equity method investment   $ 17 $ 703
MLU B.V.      
Schedule of Equity Method Investments [Line Items]      
Equity ownership interest 29.00%    
Proceeds from sale of equity method investment $ 703    
v3.24.2.u1
Goodwill and Intangible Assets - Goodwill (Details)
$ in Millions
 6 Months Ended
Jun. 30, 2024
USD ($)
Goodwill [Roll Forward]  
Goodwill, beginning balance $ 8,151
Foreign currency translation adjustment (68)
Goodwill, ending balance 8,083
Mobility  
Goodwill [Roll Forward]  
Goodwill, beginning balance 2,337
Foreign currency translation adjustment (65)
Goodwill, ending balance 2,272
Delivery  
Goodwill [Roll Forward]  
Goodwill, beginning balance 4,369
Foreign currency translation adjustment 0
Goodwill, ending balance 4,369
Freight  
Goodwill [Roll Forward]  
Goodwill, beginning balance 1,445
Foreign currency translation adjustment (3)
Goodwill, ending balance $ 1,442
v3.24.2.u1
Goodwill and Intangible Assets - Intangible Assets (Details) - USD ($)
$ in Millions
Jun. 30, 2024
Dec. 31, 2023
Finite-Lived Intangible Assets [Line Items]    
Gross Carrying Value $ 2,826 $ 2,844
Accumulated Amortization (1,561) (1,419)
Net Carrying Value 1,265 1,425
Consumer, Merchant and other relationships    
Finite-Lived Intangible Assets [Line Items]    
Gross Carrying Value 1,790 1,800
Accumulated Amortization (790) (697)
Net Carrying Value $ 1,000 $ 1,103
Weighted Average Remaining Useful Life - Years 8 years 8 years
Developed technology    
Finite-Lived Intangible Assets [Line Items]    
Gross Carrying Value $ 890 $ 890
Accumulated Amortization (663) (621)
Net Carrying Value $ 227 $ 269
Weighted Average Remaining Useful Life - Years 4 years 5 years
Trade name, trademarks and other    
Finite-Lived Intangible Assets [Line Items]    
Gross Carrying Value $ 146 $ 154
Accumulated Amortization (108) (101)
Net Carrying Value $ 38 $ 53
Weighted Average Remaining Useful Life - Years 4 years 4 years
v3.24.2.u1
Goodwill and Intangible Assets - Narrative (Details) - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract]        
Amortization of intangible assets $ 70 $ 91 $ 154 $ 184
v3.24.2.u1
Goodwill and Intangible Assets - Estimated Future Amortization (Details)
$ in Millions
Jun. 30, 2024
USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]  
Remainder of 2024 $ 136
2025 248
2026 186
2027 171
2028 127
Thereafter 395
Total $ 1,263
v3.24.2.u1
Long-Term Debt and Revolving Credit Arrangements - Components of Debt (Details) - USD ($)
$ in Millions
Jun. 30, 2024
Dec. 31, 2023
Debt Instrument [Line Items]    
Total debt $ 9,548 $ 9,561
Less: unamortized discount and issuance costs (69) (77)
Less: current portion of long-term debt (25) (25)
Total long-term debt 9,454 9,459
Secured Loans | 2030 Refinanced Term Loans    
Debt Instrument [Line Items]    
Total debt $ 1,973 1,986
Effective Interest Rates 8.20%  
Senior Note | 2026 Senior Note    
Debt Instrument [Line Items]    
Total debt $ 1,500 1,500
Effective Interest Rates 8.10%  
Senior Note | 2027 Senior Note    
Debt Instrument [Line Items]    
Total debt $ 1,200 1,200
Effective Interest Rates 7.70%  
Senior Note | 2028 Senior Note    
Debt Instrument [Line Items]    
Total debt $ 500 500
Effective Interest Rates 7.00%  
Senior Note | 2029 Senior Note    
Debt Instrument [Line Items]    
Total debt $ 1,500 1,500
Effective Interest Rates 4.70%  
Convertible Notes | 2025 Convertible Notes    
Debt Instrument [Line Items]    
Total debt $ 1,150 1,150
Effective Interest Rates 0.20%  
Convertible Notes | 2028 Convertible Note    
Debt Instrument [Line Items]    
Total debt $ 1,725 $ 1,725
Effective Interest Rates 1.10%  
v3.24.2.u1
Long-Term Debt and Revolving Credit Arrangements - Narrative (Details)
 1 Months Ended 6 Months Ended
Mar. 03, 2023
USD ($)
Nov. 30, 2023
USD ($)
day
$ / shares
Rate
Dec. 31, 2020
USD ($)
day
$ / shares
Rate
Jun. 30, 2024
USD ($)
Jun. 30, 2023
USD ($)
Dec. 31, 2023
USD ($)
Nov. 20, 2023
$ / shares
Jul. 28, 2023
USD ($)
Mar. 14, 2023
USD ($)
Feb. 28, 2023
USD ($)
Apr. 04, 2022
USD ($)
Apr. 03, 2022
USD ($)
Debt Instrument [Line Items]                        
Issuance of term loans and notes, net of issuance costs       $ 0 $ 1,121,000,000              
Share price (in dollars per share) | $ / shares             $ 54.75          
Revolving Credit Facility | Freight Holding                        
Debt Instrument [Line Items]                        
Line of credit balance       0                
Revolving Credit Facility | Freight Holding | Freight Holding                        
Debt Instrument [Line Items]                        
Borrowing capacity                   $ 300,000,000    
Line of Credit | Revolving Credit Facility                        
Debt Instrument [Line Items]                        
Borrowing capacity               $ 2,500,000,000     $ 2,200,000,000 $ 2,300,000,000
Prior minimum liquidity covenant                     $ 1,000,000,000.0 $ 1,500,000,000
Aggregate principal amount               $ 250,000,000        
Line of credit balance       0                
Line of Credit | Letters of Credit                        
Debt Instrument [Line Items]                        
Letters of credit outstanding       1,200,000,000   $ 975,000,000            
Letters of credit outstanding that will reduce the available credit under facilities       384,000,000   $ 287,000,000            
2030 Refinanced Term Loans | Secured Loans                        
Debt Instrument [Line Items]                        
Aggregate principal amount $ 1,750,000,000                      
Payments of term loan   $ 500,000,000                    
Issuance of term loans and notes, net of issuance costs         1,100,000,000              
2030 Refinanced Term Loans | Secured Loans | Level 2                        
Debt Instrument [Line Items]                        
Fair value of long-term debt       2,000,000,000.0                
2025 Refinanced Term Loan | Secured Loans | Level 2                        
Debt Instrument [Line Items]                        
Fair value of long-term debt 1,400,000,000                      
2027 Refinanced Term Loan | Secured Loans                        
Debt Instrument [Line Items]                        
Aggregate principal amount                 $ 761,000,000      
2027 Refinanced Term Loan | Secured Loans | Level 2                        
Debt Instrument [Line Items]                        
Fair value of long-term debt $ 317,000,000                      
Refinanced Term Loans | Secured Loans                        
Debt Instrument [Line Items]                        
Basis spread on variable rate (in percent) 2.75%                      
Refinanced Term Loans | Secured Loans | Minimum                        
Debt Instrument [Line Items]                        
Basis spread on variable rate (in percent) 0.00%                      
2025 And 2027 Refinanced Term Loan | Secured Loans                        
Debt Instrument [Line Items]                        
Principal repayment on term loan and notes         $ 1,100,000,000              
2025 Convertible Notes | Convertible Notes                        
Debt Instrument [Line Items]                        
Aggregate principal amount     $ 1,150,000,000                  
Stated interest rate     0.00%                  
Additional principal amount     $ 150,000,000                  
Conversion ratio | Rate     1.23701%                  
Conversion price (in dollars per share) | $ / shares     $ 80.84                  
Redemption price (in percent)     100.00%                  
2025 Convertible Notes | Convertible Notes | Debt Conversion Terms One                        
Debt Instrument [Line Items]                        
Threshold trading days | day     20                  
Threshold consecutive trading days | day     30                  
Threshold percentage of stock price trigger     130.00%                  
2025 Convertible Notes | Convertible Notes | Debt Conversion Terms Two                        
Debt Instrument [Line Items]                        
Threshold trading days | day     5                  
Threshold consecutive trading days | day     10                  
Percentage of product of last reported sale price     98.00%                  
2025 Convertible Notes | Convertible Notes | Level 2                        
Debt Instrument [Line Items]                        
Fair value of long-term debt       1,200,000,000                
2028 Convertible Note | Convertible Notes                        
Debt Instrument [Line Items]                        
Aggregate principal amount   $ 1,730,000,000                    
Stated interest rate   0.875%                    
Additional principal amount   $ 225,000,000                    
Conversion ratio | Rate   1.37848%                    
Conversion price (in dollars per share) | $ / shares   $ 72.54                    
Redemption price (in percent)   100.00%                    
Net proceeds from offering   $ 1,700,000,000                    
Capped calls cost   $ 141,000,000                    
Initial cap price (in dollars per share) | $ / shares   $ 95.81                    
Premium percentage   75.00%                    
2028 Convertible Note | Convertible Notes | Debt Conversion Terms One                        
Debt Instrument [Line Items]                        
Threshold trading days | day   20                    
Threshold consecutive trading days | day   30                    
Threshold percentage of stock price trigger   130.00%                    
2028 Convertible Note | Convertible Notes | Debt Conversion Terms Two                        
Debt Instrument [Line Items]                        
Threshold trading days | day   5                    
Threshold consecutive trading days | day   10                    
Percentage of product of last reported sale price   98.00%                    
2028 Convertible Note | Convertible Notes | Level 2                        
Debt Instrument [Line Items]                        
Fair value of long-term debt       $ 2,100,000,000                
v3.24.2.u1
Long-Term Debt and Revolving Credit Arrangements - Schedule of Carrying Values and Estimated Fair Values of Debt Instruments (Details) - Senior Note - Level 2
$ in Millions
Jun. 30, 2024
USD ($)
Debt Instrument [Line Items]  
Fair value of long-term debt $ 4,663
2026 Senior Note  
Debt Instrument [Line Items]  
Fair value of long-term debt 1,512
2027 Senior Note  
Debt Instrument [Line Items]  
Fair value of long-term debt 1,224
2028 Senior Note  
Debt Instrument [Line Items]  
Fair value of long-term debt 500
2029 Senior Note  
Debt Instrument [Line Items]  
Fair value of long-term debt $ 1,427
v3.24.2.u1
Long-Term Debt and Revolving Credit Arrangements - Interest Expense (Details) - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Debt Disclosure [Abstract]        
Contractual interest coupon $ 124 $ 145 $ 247 $ 292
Amortization of debt discount and issuance costs 4 3 8 10
Total interest expense from long-term debt $ 128 $ 148 $ 255 $ 302
v3.24.2.u1
Supplemental Financial Statement Information - Prepaid Expenses and Other Current Assets (Details) - USD ($)
$ in Millions
Jun. 30, 2024
Dec. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]    
Prepaid expenses $ 364 $ 400
Other receivables 589 717
Other 679 564
Prepaid expenses and other current assets $ 1,632 $ 1,681
v3.24.2.u1
Supplemental Financial Statement Information - Accrued and Other Current Liabilities (Details) - USD ($)
$ in Millions
Jun. 30, 2024
Dec. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]    
Accrued legal, regulatory and non-income taxes $ 1,411 $ 1,044
Accrued Drivers and Merchants liability 2,377 1,996
Accrued compensation and employee benefits 410 710
Income and other tax liabilities 652 684
Commitment to issue unsecured convertible notes in connection with Careem acquisition 128 128
Other 2,003 1,896
Accrued and other current liabilities $ 6,981 $ 6,458
v3.24.2.u1
Supplemental Financial Statement Information - Other Long-Term Liabilities (Details) - USD ($)
$ in Millions
Jun. 30, 2024
Dec. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]    
Deferred tax liabilities $ 35 $ 56
Other 699 776
Other long-term liabilities $ 734 $ 832
v3.24.2.u1
Supplemental Financial Statement Information - Accumulated Other Comprehensive Income (Details) - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
AOCI Attributable to Parent, Net of Tax [Roll Forward]        
Beginning balance $ 11,848 $ 8,253 $ 12,028 $ 8,074
Other comprehensive income (loss), net of tax (42) 155 (58) 0
Ending balance 13,152 9,420 13,152 9,420
Accumulated Other Comprehensive Income (Loss)        
AOCI Attributable to Parent, Net of Tax [Roll Forward]        
Beginning balance (437) (598) (421) (443)
Other comprehensive income (loss) before reclassifications     (58) (140)
Amounts reclassified from accumulated other comprehensive income (loss)     0 140
Other comprehensive income (loss), net of tax     (58) 0
Ending balance (479) (443) (479) (443)
Foreign Currency Translation Adjustments        
AOCI Attributable to Parent, Net of Tax [Roll Forward]        
Beginning balance     (426) (443)
Other comprehensive income (loss) before reclassifications     (49) (138)
Amounts reclassified from accumulated other comprehensive income (loss)     0 140
Other comprehensive income (loss), net of tax     (49) 2
Ending balance (475) (441) (475) (441)
Unrealized Gains (Losses) on Available-for-Sale Securities, Net of Tax        
AOCI Attributable to Parent, Net of Tax [Roll Forward]        
Beginning balance     5 0
Other comprehensive income (loss) before reclassifications     (9) (2)
Amounts reclassified from accumulated other comprehensive income (loss)     0 0
Other comprehensive income (loss), net of tax     (9) (2)
Ending balance $ (4) $ (2) $ (4) $ (2)
v3.24.2.u1
Supplemental Financial Statement Information - Other Income (Expenses), Net (Details) - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]        
Interest income $ 176 $ 107 $ 335 $ 194
Foreign currency exchange gains (losses), net (83) 1 (247) (93)
Unrealized loss on debt and equity securities, net 333 386 (388) 706
Loss from sale of investment 0 (74) 0 (74)
Other, net (6) (147) 42 (168)
Other income (expense), net 420 273 (258) 565
Aurora        
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]        
Unrealized loss on debt and equity securities, net   466 (522) 521
Joby        
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]        
Unrealized loss on debt and equity securities, net   151   177
Grab        
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]        
Unrealized loss on debt and equity securities, net 220 225 96 113
Didi        
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]        
Unrealized loss on debt and equity securities, net $ 178 $ (461) $ 109 $ (104)
v3.24.2.u1
Stockholders' Equity - Narrative (Details)
shares in Millions, $ in Millions
 3 Months Ended 6 Months Ended
Jun. 30, 2024
USD ($)
shares
Jun. 30, 2024
USD ($)
equityCompensationPlan
Feb. 06, 2024
USD ($)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Number of equity compensation plans | equityCompensationPlan   4  
Authorized repurchase amount     $ 7,000
Repurchases and sale of common stock (in shares) | shares 4.8    
Repurchases and sale of common stock $ 326    
Remaining authorized repurchase amount 6,700 $ 6,700  
Restricted Stock Awards, Restricted Stock Units, and Stock Appreciation Rights      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Unamortized compensation costs $ 3,800 $ 3,800  
Weighted-average recognition period (in years)   2 years 9 months 21 days  
v3.24.2.u1
Stockholders' Equity - SAR and Option Activity (Details)
$ / shares in Units, shares in Thousands, $ in Millions
 6 Months Ended 12 Months Ended
Jun. 30, 2024
USD ($)
$ / shares
shares
Dec. 31, 2023
USD ($)
$ / shares
shares
Options Outstanding Number of Shares    
Options outstanding (in shares) 12,641  
Granted (in shares) 227  
Exercised (in shares) (5,206)  
Canceled and forfeited (in shares) (520)  
Options outstanding (in shares) 7,142 12,641
Vested and expected to vest (in shares) 6,067  
Exercisable (in shares) 6,067  
Weighted-Average Exercise Price Per Share    
Weighted-Average Exercise Price Per Share, Outstanding (in dollars per share) | $ / shares $ 20.03  
Weighted-Average Exercise Price Per Share, Granted (in dollars per share) | $ / shares 81.03  
Weighted-Average Exercise Price Per Share, Exercised (in dollars per share) | $ / shares 17.77  
Weighted-Average Exercise Price Per Share, Canceled and forfeited (in dollars per share) | $ / shares 33.08  
Weighted-Average Exercise Price Per Share, Outstanding (in dollars per share) | $ / shares 22.47 $ 20.03
Weighted-Average Exercise Price Per Share, Vested and expected to vest (in dollars per share) | $ / shares 19.00  
Weighted-Average Exercise Price Per Share, Exercisable (in dollars per share) | $ / shares $ 19.00  
Weighted-Average Remaining Contractual Life (in years)    
Weighted-Average Contractual Life, Outstanding (in years) 3 years 1 month 2 days 2 years 9 months 14 days
Weighted-Average Contractual Life, Vested and expected to vest (in years) 2 years 7 months 6 days  
Weighted-Average Contractual Life, Exercisable (in years) 2 years 7 months 6 days  
Aggregate Intrinsic Value, Outstanding | $ $ 363 $ 535
Aggregate Intrinsic Value, Vested and expected to vest | $ 328  
Aggregate Intrinsic Value, Exercisable | $ $ 328  
SARs Outstanding Number of SARs    
SARs Outstanding Number of SARs    
Shares outstanding (in shares) 123  
Granted (in shares) 0  
Exercised (in shares) (71)  
Canceled and forfeited (in shares) 0  
Shares outstanding (in shares) 52 123
Vested and expected to vest (in shares) 52  
Exercisable (in shares) 52  
v3.24.2.u1
Stockholders' Equity - Restricted Stock Units Activity (Details) - RSUs
shares in Thousands
 6 Months Ended
Jun. 30, 2024
$ / shares
shares
Number of Shares  
Shares outstanding (in shares) | shares 90,827
Granted (in shares) | shares 24,198
Vested (in shares) | shares (23,702)
Canceled and forfeited (in shares) | shares (5,864)
Shares outstanding (in shares) | shares 85,459
Weighted-Average Grant-Date Fair Value per Share  
Weighted-Average Grant-Date Fair Value per Share, Unvested and Outstanding (in dollars per share) | $ / shares $ 34.49
Weighted-Average Grant-Date Fair Value per Share, Granted (in dollars per share) | $ / shares 75.55
Weighted-Average Grant-Date Fair Value per Share, Vested (in dollars per share) | $ / shares 37.08
Weighted-Average Grant-Date Fair Value per Share, Canceled and forfeited (in dollars per share) | $ / shares 37.97
Weighted-Average Grant-Date Fair Value per Share, Unvested and Outstanding (in dollars per share) | $ / shares $ 45.34
v3.24.2.u1
Stockholders' Equity - Stock-Based Compensation Expense (Details) - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]        
Share-based compensation expense $ 455 $ 504 $ 939 $ 974
Operations and support        
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]        
Share-based compensation expense 54 45 121 83
Sales and marketing        
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]        
Share-based compensation expense 24 26 45 50
Research and development        
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]        
Share-based compensation expense 277 317 576 607
General and administrative        
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]        
Share-based compensation expense $ 100 $ 116 $ 197 $ 234
v3.24.2.u1
Income Taxes (Details) - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Income Tax Disclosure [Abstract]        
Provision for income taxes $ 57 $ 65 $ 86 $ 120
Increase in gross unrecognized tax benefits     $ 115  
v3.24.2.u1
Net Income (Loss) Per Share - Computation (Details) - USD ($)
$ / shares in Units, shares in Thousands, $ in Millions
 3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Numerator        
Net income including non-controlling interests $ 1,008 $ 394 $ 345 $ 237
Net loss attributable to non-controlling interests, net of tax (7) 0 (16) 0
Net income attributable to common stockholders $ 1,015 $ 394 $ 361 $ 237
Denominator        
Basic weighted-average common stock outstanding (in shares) 2,092,180 2,026,813 2,085,324 2,018,233
Basic net income (loss) per share attributable to common stockholders (in dollars per share) $ 0.49 $ 0.19 $ 0.17 $ 0.12
Numerator        
Assumed net loss attributable to Uber Technologies, Inc. upon redemption of Freight Holding convertible common shares, non-controlling interest $ (14) $ (14) $ (30) $ (28)
Interest expense, amortization of debt discount and issuance costs of 2025 Convertible Notes 0 1 0 1
Diluted net income attributable to common stockholders $ 1,001 $ 381 $ 331 $ 210
Denominator        
Warrants (in shares) 73 73 73 73
Assumed redemption of Freight Holding convertible common shares, non-controlling interest (in shares) 1,333 3,502 1,701 4,318
Assumed redemption of Freight Series A contingently redeemable preferred stock, non-controlling interest (in shares) 10,625 0 13,432 0
Diluted (in shares) 2,150,019 2,079,265 2,151,647 2,066,260
Diluted net income per share attributable to common stockholders (in dollars per share) $ 0.47 $ 0.18 $ 0.15 $ 0.10
2025 Convertible Notes        
Denominator        
Convertible debt (in shares) 0 14,226 0 14,226
The Careem Notes        
Denominator        
Convertible debt (in shares) 2,321 2,771 2,321 2,771
Stock options        
Denominator        
Stock options, RSUs, RSAs and ESPP (in shares) 5,740 10,163 6,509 10,365
RSUs        
Denominator        
Stock options, RSUs, RSAs and ESPP (in shares) 37,161 20,891 41,426 15,468
Restricted Stock        
Denominator        
Stock options, RSUs, RSAs and ESPP (in shares) 0 91 74 61
Shares committed under ESPP        
Denominator        
Stock options, RSUs, RSAs and ESPP (in shares) 586 735 787 745
v3.24.2.u1
Net Income (Loss) Per Share - Antidilutive Securities (Details) - shares
shares in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]        
Antidilutive securities excluded from computation of earnings per share (in shares) 22,928 42,217 22,928 42,217
Freight Series A contingently redeemable preferred stock        
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]        
Antidilutive securities excluded from computation of earnings per share (in shares) 0 19,244 0 19,244
RSUs        
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]        
Antidilutive securities excluded from computation of earnings per share (in shares) 21,381 15,530 21,381 15,530
Stock options        
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]        
Antidilutive securities excluded from computation of earnings per share (in shares) 227 2,934 227 2,934
Common stock subject to repurchase        
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]        
Antidilutive securities excluded from computation of earnings per share (in shares) 0 1,461 0 1,461
Shares committed under ESPP        
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]        
Antidilutive securities excluded from computation of earnings per share (in shares) 1,320 3,048 1,320 3,048
v3.24.2.u1
Segment Information and Geographic Information - Summary (Details)
$ in Millions
 3 Months Ended 6 Months Ended
Jun. 30, 2024
USD ($)
Jun. 30, 2023
USD ($)
Jun. 30, 2024
USD ($)
segment
Jun. 30, 2023
USD ($)
Segment Reporting [Abstract]        
Number of operating segments | segment     3  
Number of reportable segments | segment     3  
Segment Reporting Information [Line Items]        
Depreciation and amortization $ (173) $ (208) $ (363) $ (415)
Stock-based compensation expense (455) (504) (939) (974)
Income from operations 796 326 968 64
Segments        
Segment Reporting Information [Line Items]        
Total Segment Adjusted EBITDA 2,143 1,485 4,129 2,810
Segments | Mobility        
Segment Reporting Information [Line Items]        
Total Segment Adjusted EBITDA 1,567 1,170 3,046 2,230
Segments | Delivery        
Segment Reporting Information [Line Items]        
Total Segment Adjusted EBITDA 588 329 1,116 617
Segments | Freight        
Segment Reporting Information [Line Items]        
Total Segment Adjusted EBITDA (12) (14) (33) (37)
Reconciling items        
Segment Reporting Information [Line Items]        
Corporate G&A and Platform R&D (573) (569) (1,177) (1,133)
Depreciation and amortization (173) (208) (363) (415)
Stock-based compensation expense (455) (504) (939) (974)
Legal, tax, and regulatory reserve charges and settlements (134) 155 (661) (95)
Goodwill and asset impairments/loss on sale of assets 0 (16) 3 (83)
Acquisition, financing and divestitures related expenses (3) (10) (8) (18)
Gain on lease arrangement, net 0 2 0 3
Restructuring and related charges $ (9) $ (9) $ (16) $ (31)
v3.24.2.u1
Commitments and Contingencies (Details)
£ in Millions, $ in Millions
Jun. 30, 2024
USD ($)
Jun. 30, 2024
GBP (£)
Dec. 31, 2023
USD ($)
Commitments and Contingencies Disclosure [Abstract]      
Loss contingency accrual $ 1,400   $ 1,000
Non-income tax, current 201   $ 336
Value tax assessment $ 1,200 £ 957  
v3.24.2.u1
Variable Interest Entities - Narrative (Details) - USD ($)
Feb. 12, 2021
Jun. 30, 2024
Dec. 31, 2023
Feb. 28, 2023
Variable Interest Entity [Line Items]        
Total assets   $ 41,514,000,000 $ 38,699,000,000  
Total liabilities   27,731,000,000 26,017,000,000  
Capital contribution contingent on regulatory approval $ 185,000,000      
Term of contingent consideration (in years) 8 years      
Loan receivable issued $ 213,000,000      
Call option period (in years) 2 years      
Revolving Credit Facility | Freight Holding        
Variable Interest Entity [Line Items]        
Line of credit balance   0    
Revolving Credit Facility | Freight Holding | Freight Holding        
Variable Interest Entity [Line Items]        
Borrowing capacity       $ 300,000,000
Moove        
Variable Interest Entity [Line Items]        
Term loan receivable   275,000,000    
Variable Interest Entity, Primary Beneficiary        
Variable Interest Entity [Line Items]        
Total assets   3,400,000,000 3,500,000,000  
Total liabilities   789,000,000 755,000,000  
Variable Interest Entity, Not Primary Beneficiary        
Variable Interest Entity [Line Items]        
Assets and liabilities   541,000,000 575,000,000  
Maximum exposure to loss   $ 653,000,000 $ 686,000,000  
Moove        
Variable Interest Entity [Line Items]        
Ownership interest (percent) 30.00%      
v3.24.2.u1
Non-Controlling Interests (Details) - USD ($)
$ in Millions
 1 Months Ended 6 Months Ended
Oct. 31, 2020
Jun. 30, 2024
Dec. 31, 2023
Oct. 06, 2023
2020 Freight Series A Investor | Private Placement | Freight Holding        
Noncontrolling Interest [Line Items]        
Proceeds from issuance of common stock $ 500      
Freight Holding        
Noncontrolling Interest [Line Items]        
Ownership percentage in non-controlling interest   74.00% 74.00%  
Diluted ownership percentage in non-controlling interest   71.00% 72.00%  
Freight Holding | 2020 Freight Series A Investor        
Noncontrolling Interest [Line Items]        
Liquidation preference, multiplier   150.00%    
Preferred shared, compounding dividend percentage   6.00%    
Immediate redemption value       $ 849