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8-K Filing Data
Uber (UBER) 8-K14 Jan 21Other EventsFinancial data
Company Profile
Cover | Jan. 14, 2021 |
Entity Addresses [Line Items] | |
Document Type | 8-K |
Document Period End Date | Jan. 14, 2021 |
Entity Registrant Name | UBER TECHNOLOGIES, INC. |
Entity Incorporation, State or Country Code | DE |
Entity File Number | 001-38902 |
Entity Tax Identification Number | 45-2647441 |
Entity Address, Address Line One | 1515 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 |
Written Communications | false |
Soliciting Material | false |
Pre-commencement Tender Offer | false |
Pre-commencement Issuer Tender Offer | false |
Title of 12(b) Security | Common Stock, par value $0.00001 per share |
Trading Symbol | UBER |
Security Exchange Name | NYSE |
Entity Emerging Growth Company | false |
Entity Central Index Key | 0001543151 |
Amendment Flag | false |
Former Address | |
Entity Addresses [Line Items] | |
Entity Address, Address Line One | 1455 Market Street |
Entity Address, Address Line Two | 4th Floor |
Entity Address, City or Town | San Francisco |
Entity Address, State or Province | CA |
Entity Address, Postal Zip Code | 94103 |
Change in Accounting Policy | Jan. 14, 2021 |
Accounting Changes and Error Corrections [Abstract] | |
Change in Accounting Policy | UBER TECHNOLOGIES, INC. SELECT HISTORICAL REVENUE AND COST OF REVENUE INFORMATION For Years Ended December 31, 2018 and 2019 and Each of the Three Consecutive Quarters Ended September 30, 2020 (In millions) (Unaudited) Change in Accounting Policy During the fourth quarter of 2020, Uber Technologies, Inc. (“we,” “us,” or “our”) changed our accounting policy related to the presentation of cumulative payments to Drivers in excess of cumulative revenue from Drivers. Our policy for the presentation of these excess cumulative payments has changed from presenting them within cost of revenue, exclusive of depreciation and amortization, to presenting them as a reduction of revenue in our consolidated statements of operations. As our business has evolved, we believe our new presentation policy is preferable as it better reflects the financial performance of transactions with customers across all of our businesses and provides more clarity about changes in both revenue and cost of revenue, exclusive of depreciation and amortization, resulting in improved financial reporting and alignment with financial information used internally by management. In accordance with generally accepted accounting principles, all periods presented below have been retrospectively adjusted to reflect the effects of the change to revenue and cost of revenue, exclusive of depreciation and amortization. There was no net impact to loss from operations, net loss attributable to Uber Technologies, Inc., or net loss per share for any periods presented. The consolidated balance sheets, consolidated statements of mezzanine equity and equity (deficit), and the consolidated statements of cash flows are not affected by this change in accounting policy. The effect of the change is as follows: Year Ended December 31, 2018 Year Ended December 31, 2019 (In millions) Previously Reported Effect of Change As Adjusted Previously Reported Effect of Change As Adjusted Revenue $ 11,270 $ (837) $ 10,433 $ 14,147 $ (1,147) $ 13,000 Cost of revenue, exclusive of depreciation and amortization 5,623 (837) 4,786 7,208 (1,147) 6,061 Three Months Ended March 31, 2020 Three Months Ended June 30, 2020 Three Months Ended September 30, 2020 (In millions) Previously Reported Effect of Change As Adjusted Previously Reported Effect of Change As Adjusted Previously Reported Effect of Change As Adjusted Revenue $ 3,543 $ (295) $ 3,248 $ 2,241 $ (328) $ 1,913 $ 3,129 $ (316) $ 2,813 Cost of revenue, exclusive of depreciation and amortization 1,786 (295) 1,491 1,252 (328) 924 1,614 (316) 1,298 |
Change in Accounting Policy (Policies) | Jan. 14, 2021 |
Accounting Changes and Error Corrections [Abstract] | |
Revenue Recognition, Revenue Reductions | Change in Accounting Policy During the fourth quarter of 2020, Uber Technologies, Inc. (“we,” “us,” or “our”) changed our accounting policy related to the presentation of cumulative payments to Drivers in excess of cumulative revenue from Drivers. Our policy for the presentation of these excess cumulative payments has changed from presenting them within cost of revenue, exclusive of depreciation and amortization, to presenting them as a reduction of revenue in our consolidated statements of operations. |
Change in Accounting Policy (Tables) | Jan. 14, 2021 |
Accounting Changes and Error Corrections [Abstract] | |
Effect of Accounting Policy Change | The effect of the change is as follows: Year Ended December 31, 2018 Year Ended December 31, 2019 (In millions) Previously Reported Effect of Change As Adjusted Previously Reported Effect of Change As Adjusted Revenue $ 11,270 $ (837) $ 10,433 $ 14,147 $ (1,147) $ 13,000 Cost of revenue, exclusive of depreciation and amortization 5,623 (837) 4,786 7,208 (1,147) 6,061 Three Months Ended March 31, 2020 Three Months Ended June 30, 2020 Three Months Ended September 30, 2020 (In millions) Previously Reported Effect of Change As Adjusted Previously Reported Effect of Change As Adjusted Previously Reported Effect of Change As Adjusted Revenue $ 3,543 $ (295) $ 3,248 $ 2,241 $ (328) $ 1,913 $ 3,129 $ (316) $ 2,813 Cost of revenue, exclusive of depreciation and amortization 1,786 (295) 1,491 1,252 (328) 924 1,614 (316) 1,298 |
Change in Accounting Policy (Details) - USD ($) $ in Millions | 3 Months Ended | 12 Months Ended | |||
Sep. 30, 2020 | Jun. 30, 2020 | Mar. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Error Corrections and Prior Period Adjustments Restatement [Line Items] | |||||
Revenue | $ 2,813 | $ 1,913 | $ 3,248 | $ 13,000 | $ 10,433 |
Cost of revenue, exclusive of depreciation and amortization | 1,298 | 924 | 1,491 | 6,061 | 4,786 |
Previously Reported | |||||
Error Corrections and Prior Period Adjustments Restatement [Line Items] | |||||
Revenue | 3,129 | 2,241 | 3,543 | 14,147 | 11,270 |
Cost of revenue, exclusive of depreciation and amortization | 1,614 | 1,252 | 1,786 | 7,208 | 5,623 |
Effect of Change | |||||
Error Corrections and Prior Period Adjustments Restatement [Line Items] | |||||
Revenue | (316) | (328) | (295) | (1,147) | (837) |
Cost of revenue, exclusive of depreciation and amortization | $ (316) | $ (328) | $ (295) | $ (1,147) | $ (837) |