Lyft (LYFT) 10-Q 9 Nov 23 2023 Q3 Quarterly report Financial data

Cover Page

Cover Page - shares	9 Months Ended
	Sep. 30, 2023	Nov. 06, 2023
Entity Information
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2023
Document Transition Report	false
Entity File Number	001-38846
Entity Registrant Name	Lyft, Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	20-8809830
Entity Address, Address Line One	185 Berry Street
Entity Address, Address Line Two	Suite 400
Entity Address, City or Town	San Francisco
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	94107
City Area Code	844
Local Phone Number	250-2773
Title of each class	Class A common stock, par value of $0.00001 per share
Trading Symbol(s)	LYFT
Name of each exchange on which registered	NASDAQ
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
Amendment Flag	false
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q3
Entity Central Index Key	0001759509
Current Fiscal Year End Date	--12-31
Class A Common Stock
Entity Information
Entity Common Stock, Shares Outstanding		384,387,664
Class B Common Stock
Entity Information
Entity Common Stock, Shares Outstanding		8,602,629

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Current assets
Cash and cash equivalents	$ 590,541	$ 281,090
Short-term investments	1,076,089	1,515,702
Prepaid expenses and other current assets	833,609	786,067
Total current assets	2,500,239	2,582,859
Restricted cash and cash equivalents	258,798	109,368
Restricted investments	767,037	1,027,506
Other investments	39,324	26,390
Property and equipment, net	476,848	313,402
Operating lease right of use assets	100,479	135,213
Intangible assets, net	62,492	76,208
Goodwill	255,721	261,582
Other assets	17,286	23,903
Total assets	4,478,224	4,556,431
Current liabilities
Accounts payable	56,743	107,801
Insurance reserves	1,322,770	1,417,350
Accrued and other current liabilities	1,527,019	1,561,609
Operating lease liabilities — current	42,330	45,803
Total current liabilities	2,948,862	3,132,563
Operating lease liabilities	141,894	176,356
Long-term debt, net of current portion	833,816	803,207
Other liabilities	85,326	55,637
Total liabilities	4,009,898	4,167,763
Commitments and contingencies (Note 7)
Stockholders’ equity
Preferred stock, $0.00001 par value; 1,000,000,000 shares authorized as of September 30, 2023 and December 31, 2022; no shares issued and outstanding as of September 30, 2023 and December 31, 2022	0	0
Common stock, $0.00001 par value; 18,000,000,000 Class A shares authorized as of September 30, 2023 and December 31, 2022; 384,382,810 and 361,552,359 Class A shares issued and outstanding, as of September 30, 2023 and December 31, 2022, respectively; 100,000,000 Class B shares authorized as of September 30, 2023 and December 31, 2022; 8,602,629 Class B shares issued and outstanding, as of September 30, 2023 and December 31, 2022	4	4
Additional paid-in capital	10,732,214	10,335,013
Accumulated other comprehensive income (loss)	(9,286)	(5,754)
Accumulated deficit	(10,254,606)	(9,940,595)
Total stockholders’ equity	468,326	388,668
Total liabilities and stockholders’ equity	$ 4,478,224	$ 4,556,431

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Sep. 30, 2023	Dec. 31, 2022
Preferred stock par value (in dollars per share)	$ 0.00001	$ 0.00001
Preferred stock shares authorized (in shares)	1,000,000,000	1,000,000,000
Preferred stock shares issued (in shares)	0	0
Preferred stock shares outstanding (in shares)	0	0
Class A Common Stock
Common stock par value (in dollars per share)	$ 0.00001	$ 0.00001
Common stock shares authorized (in shares)	18,000,000,000	18,000,000,000
Common stock shares, issued (in shares)	384,382,810	361,552,359
Common stock shares outstanding (in shares)	384,382,810	361,552,359
Class B Common Stock
Common stock par value (in dollars per share)	$ 0.00001	$ 0.00001
Common stock shares authorized (in shares)	100,000,000	100,000,000
Common stock shares, issued (in shares)	8,602,629	8,602,629
Common stock shares outstanding (in shares)	8,602,629	8,602,629

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Revenue	$ 1,157,550	$ 1,053,820	$ 3,179,004	$ 2,920,143
Costs and expenses
Cost of revenue	644,500	570,703	1,800,091	1,661,353
Operations and support	118,763	119,223	325,338	323,137
Research and development	109,229	227,678	460,745	622,200
Sales and marketing	129,947	133,722	355,055	400,805
General and administrative	195,290	292,870	653,228	775,542
Total costs and expenses	1,197,729	1,344,196	3,594,457	3,783,037
Loss from operations	(40,179)	(290,376)	(415,453)	(862,894)
Interest expense	(6,209)	(5,022)	(17,793)	(14,531)
Other income (expense), net	34,399	(126,155)	124,689	(115,439)
Loss before income taxes	(11,989)	(421,553)	(308,557)	(992,864)
Provision for (benefit from) income taxes	111	648	5,454	3,515
Net loss	$ (12,100)	$ (422,201)	$ (314,011)	$ (996,379)
Net loss per share, basic (in dollars per share)	$ (0.03)	$ (1.18)	$ (0.82)	$ (2.84)
Net loss per share, diluted (in dollars per share)	$ (0.03)	$ (1.18)	$ (0.82)	$ (2.84)
Weighted-average number of shares outstanding used to compute net loss per share, basic (in shares)	389,307	356,478	381,697	351,224
Weighted-average number of shares outstanding used to compute net loss per share, diluted (in shares)	389,307	356,478	381,697	351,224
Cost of revenue
Stock-based compensation included in costs and expenses:
Stock-based compensation expense	$ 5,553	$ 12,983	$ 23,825	$ 32,990
Operations and support
Stock-based compensation included in costs and expenses:
Stock-based compensation expense	2,818	7,145	12,727	19,041
Research and development
Stock-based compensation included in costs and expenses:
Stock-based compensation expense	40,699	116,173	183,555	288,086
Sales and marketing
Stock-based compensation included in costs and expenses:
Stock-based compensation expense	5,723	14,437	25,360	37,017
General and administrative
Stock-based compensation included in costs and expenses:
Stock-based compensation expense	$ 43,750	$ 70,242	$ 147,385	$ 174,233

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Loss - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Statement of Comprehensive Income [Abstract]
Net loss	$ (12,100)	$ (422,201)	$ (314,011)	$ (996,379)
Other comprehensive income (loss)
Foreign currency translation adjustment	(6,039)	(1,976)	(5,494)	(1,384)
Unrealized gain (loss) on marketable securities, net of taxes	576	3,460	1,962	(5,609)
Other comprehensive income (loss)	(5,463)	1,484	(3,532)	(6,993)
Comprehensive loss	$ (17,563)	$ (420,717)	$ (317,543)	$ (1,003,372)

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Stockholders' Equity - USD ($) shares in Thousands, $ in Thousands	Total	Cumulative Effect, Period of Adoption, Adjustment	Class A and Class B Common Stock	Additional Paid-in Capital	Additional Paid-in Capital Cumulative Effect, Period of Adoption, Adjustment	Accumulated Deficit	Accumulated Deficit Cumulative Effect, Period of Adoption, Adjustment	Accumulated Other Comprehensive Income (Loss)
Beginning balance at Dec. 31, 2021	$ 1,341,213	$ (133,470)	$ 3	$ 9,706,293	$ (139,958)	$ (8,362,572)	$ 6,488	$ (2,511)
Beginning balance (in shares) at Dec. 31, 2021			344,938
Increase (Decrease) in Stockholders' Equity
Issuance of common stock upon exercise of stock options	90			90
Issuance of common stock upon exercise of stock options (in shares)			65
Issuance of common stock upon settlement of restricted stock units (in shares)			3,602
Shares withheld related to net share settlement	(1,807)			(1,807)
Shares withheld related to net share settlement (in shares)			(44)
Stock-based compensation	156,595			156,595
Other comprehensive income (loss)	(7,701)							(7,701)
Net loss	(196,932)					(196,932)
Ending balance at Mar. 31, 2022	1,157,988		$ 3	9,721,213		(8,553,016)		(10,212)
Ending balance (in shares) at Mar. 31, 2022			348,561
Beginning balance at Dec. 31, 2021	1,341,213	$ (133,470)	$ 3	9,706,293	$ (139,958)	(8,362,572)	$ 6,488	(2,511)
Beginning balance (in shares) at Dec. 31, 2021			344,938
Increase (Decrease) in Stockholders' Equity
Other comprehensive income (loss)	(6,993)
Net loss	(996,379)
Ending balance at Sep. 30, 2022	765,524		$ 4	10,127,487		(9,352,463)		(9,504)
Ending balance (in shares) at Sep. 30, 2022			360,931
Beginning balance at Mar. 31, 2022	1,157,988		$ 3	9,721,213		(8,553,016)		(10,212)
Beginning balance (in shares) at Mar. 31, 2022			348,561
Increase (Decrease) in Stockholders' Equity
Issuance of common stock upon exercise of stock options	313			313
Issuance of common stock upon exercise of stock options (in shares)			31
Issuance of common stock upon settlement of restricted stock units	1		$ 1
Issuance of common stock upon settlement of restricted stock units (in shares)			3,526
Shares withheld related to net share settlement	(1,742)			(1,742)
Shares withheld related to net share settlement (in shares)			(90)
Issuance of common stock under employee stock purchase plan	11,945			11,945
Issuance of common stock under employee stock purchase plan (in shares)			703
Stock-based compensation	176,644			176,644
Other comprehensive income (loss)	(776)							(776)
Net loss	(377,246)					(377,246)
Other	140			140
Ending balance at Jun. 30, 2022	967,267		$ 4	9,908,513		(8,930,262)		(10,988)
Ending balance (in shares) at Jun. 30, 2022			352,731
Increase (Decrease) in Stockholders' Equity
Issuance of common stock upon exercise of stock options	47			47
Issuance of common stock upon exercise of stock options (in shares)			15
Issuance of common stock upon settlement of restricted stock units (in shares)			8,308
Shares withheld related to net share settlement	(2,053)			(2,053)
Shares withheld related to net share settlement (in shares)			(123)
Stock-based compensation	220,980			220,980
Other comprehensive income (loss)	1,484							1,484
Net loss	(422,201)					(422,201)
Ending balance at Sep. 30, 2022	765,524		$ 4	10,127,487		(9,352,463)		(9,504)
Ending balance (in shares) at Sep. 30, 2022			360,931
Beginning balance at Dec. 31, 2022	388,668		$ 4	10,335,013		(9,940,595)		(5,754)
Beginning balance (in shares) at Dec. 31, 2022			370,155
Increase (Decrease) in Stockholders' Equity
Issuance of common stock upon exercise of stock options	297			297
Issuance of common stock upon exercise of stock options (in shares)			82
Issuance of common stock upon settlement of restricted stock units (in shares)			7,985
Shares withheld related to net share settlement	(1,166)			(1,166)
Shares withheld related to net share settlement (in shares)			(103)
Stock-based compensation	180,383			180,383
Other comprehensive income (loss)	1,463							1,463
Net loss	(187,649)					(187,649)
Ending balance at Mar. 31, 2023	381,996		$ 4	10,514,527		(10,128,244)		(4,291)
Ending balance (in shares) at Mar. 31, 2023			378,119
Beginning balance at Dec. 31, 2022	388,668		$ 4	10,335,013		(9,940,595)		(5,754)
Beginning balance (in shares) at Dec. 31, 2022			370,155
Increase (Decrease) in Stockholders' Equity
Other comprehensive income (loss)	(3,532)
Net loss	(314,011)
Ending balance at Sep. 30, 2023	468,326		$ 4	10,732,214		(10,254,606)		(9,286)
Ending balance (in shares) at Sep. 30, 2023			392,985
Beginning balance at Mar. 31, 2023	381,996		$ 4	10,514,527		(10,128,244)		(4,291)
Beginning balance (in shares) at Mar. 31, 2023			378,119
Increase (Decrease) in Stockholders' Equity
Issuance of common stock upon exercise of stock options	7			7
Issuance of common stock upon exercise of stock options (in shares)			2
Issuance of common stock upon settlement of restricted stock units (in shares)			7,431
Shares withheld related to net share settlement	(661)			(661)
Shares withheld related to net share settlement (in shares)			(82)
Issuance of common stock under employee stock purchase plan	5,569			5,569
Issuance of common stock under employee stock purchase plan (in shares)			767
Stock-based compensation	113,926			113,926
Other comprehensive income (loss)	468							468
Net loss	(114,262)					(114,262)
Ending balance at Jun. 30, 2023	387,043		$ 4	10,633,368		(10,242,506)		(3,823)
Ending balance (in shares) at Jun. 30, 2023			386,237
Increase (Decrease) in Stockholders' Equity
Issuance of common stock upon exercise of stock options	825			825
Issuance of common stock upon exercise of stock options (in shares)			107
Issuance of common stock upon settlement of restricted stock units (in shares)			6,676
Shares withheld related to net share settlement	(383)			(383)
Shares withheld related to net share settlement (in shares)			(35)
Stock-based compensation	98,543			98,543
Other comprehensive income (loss)	(5,463)							(5,463)
Net loss	(12,100)					(12,100)
Other	(139)			(139)
Ending balance at Sep. 30, 2023	$ 468,326		$ 4	$ 10,732,214		$ (10,254,606)		$ (9,286)
Ending balance (in shares) at Sep. 30, 2023			392,985

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Cash flows from operating activities
Net loss	$ (314,011)	$ (996,379)
Adjustments to reconcile net loss to net cash used in operating activities
Depreciation and amortization	85,350	96,787
Stock-based compensation	392,852	551,367
Amortization of premium on marketable securities	93	2,510
Accretion of discount on marketable securities	(46,581)	(10,788)
Amortization of debt discount and issuance costs	2,124	2,083
Gain on sale and disposal of assets, net	(9,471)	(38,531)
Impairment of non-marketable equity security	0	135,714
Other	2,173	16,873
Changes in operating assets and liabilities, net effects of acquisition
Prepaid expenses and other assets	(35,354)	(194,648)
Operating lease right-of-use assets	21,769	39,711
Accounts payable	(52,988)	(44,767)
Insurance reserves	(94,580)	197,100
Accrued and other liabilities	(77,919)	79,511
Lease liabilities	(15,209)	(40,269)
Net cash used in operating activities	(141,752)	(203,726)
Cash flows from investing activities
Purchases of marketable securities	(2,354,598)	(2,670,635)
Purchases of term deposits	0	(10,046)
Proceeds from sales of marketable securities	345,422	501,132
Proceeds from maturities of marketable securities	2,751,529	2,004,227
Proceeds from maturities of term deposits	5,000	380,046
Purchases of property and equipment and scooter fleet	(121,250)	(82,401)
Cash paid for acquisitions, net of cash acquired	1,630	(146,334)
Sales of property and equipment	79,033	76,516
Net cash provided by investing activities	706,766	52,505
Cash flows from financing activities
Repayment of loans	(60,519)	(51,961)
Proceeds from exercise of stock options and other common stock issuances	6,697	12,398
Taxes paid related to net share settlement of equity awards	(2,208)	(5,602)
Principal payments on finance lease obligations	(35,935)	(21,706)
Contingent consideration paid	(14,100)	0
Net cash used in financing activities	(106,065)	(66,871)
Effect of foreign exchange on cash, cash equivalents and restricted cash and cash equivalents	(68)	(780)
Net increase (decrease) in cash, cash equivalents and restricted cash and cash equivalents	458,881	(218,872)
Beginning of period	391,822	531,193
End of period	850,703	312,321
Reconciliation of cash, cash equivalents and restricted cash and cash equivalents to the consolidated balance sheets
Cash and cash equivalents	590,541	143,715
Restricted cash and cash equivalents	258,798	167,242
Restricted cash, included in prepaid expenses and other current assets	1,364	1,364
Total cash, cash equivalents and restricted cash and cash equivalents	850,703	312,321
Non-cash investing and financing activities
Financed vehicles acquired	130,891	71,801
Purchases of property and equipment, and scooter fleet not yet settled	10,998	21,422
Right-of-use assets acquired under finance leases	63,706	2,947
Right-of-use assets acquired under operating leases	3,760	852
Remeasurement of finance and operating lease right of use assets	(12,729)	(2,105)
Contingent consideration	$ 0	$ 15,000

Description of Business and Bas

Description of Business and Basis of Presentation	9 Months Ended
	Sep. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Description of Business and Basis of Presentation	Description of Business and Basis of Presentation Organization and Description of Business Lyft, Inc. (the “Company” or “Lyft”) is incorporated in Delaware with its headquarters in San Francisco, California. The Company operates multimodal transportation networks in the United States and Canada that offer access to a variety of transportation options through the Company’s platform and mobile-based applications. This network enables multiple modes of transportation including the facilitation of peer-to-peer ridesharing by connecting drivers who have a vehicle with riders who need a ride. The Lyft Platform provides a marketplace where drivers can be matched with riders via the Lyft App where the Company operates as a transportation network company (“TNC”). Transportation options through the Company’s platform and mobile-based applications are substantially comprised of its ridesharing marketplace that connects drivers and riders in cities across the United States and in select cities in Canada, Lyft’s network of bikes and scooters (“Light Vehicles”), and the Express Drive program, where drivers can enter into short-term rental agreements with the Company’s wholly-owned subsidiary, Flexdrive Services, LLC (“Flexdrive”), or a third party for vehicles that may be used to provide ridesharing services on the Lyft Platform. In addition, the Company makes the ridesharing marketplace available to organizations through Lyft Business offerings, such as the Concierge and Lyft Pass programs, and generates revenue from licensing and data access agreements associated with the data from the Company's platform, subscription fees, and revenue from bikes and bike station hardware and software sales. Basis of Presentation The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States (“GAAP”) and the U.S. Securities and Exchange Commission (“SEC”) rules and regulations for interim reporting and include the accounts of the Company and its wholly-owned subsidiaries. All intercompany balances and transactions have been eliminated. 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, 2022, included in our Annual Report on Form 10-K. The Company uses the U.S. dollar predominantly as the functional currency of its foreign subsidiaries. For foreign subsidiaries where the U.S. dollar is the functional currency, gains and losses from remeasurement of foreign currency balances into U.S. dollars are included on the condensed consolidated statements of operations. For the foreign subsidiary where the local currency is the functional currency, translation adjustments of foreign currency financial statements into U.S. dollars are recorded to a separate component of accumulated other comprehensive loss. The consolidated balance sheet as of December 31, 2022 included herein was derived from the audited financial statements as of that date. The accompanying unaudited condensed consolidated financial statements have been prepared on the same basis as the annual audited consolidated financial statements and, in the opinion of management, reflect all adjustments, which include only normal recurring adjustments, necessary to state fairly the Company’s financial position, results of operations, comprehensive loss, stockholders’ equity, and cash flows for the periods presented, but are not necessarily indicative of the results of operations to be anticipated for any future annual or interim period. Reclassification Certain insignificant amounts in the non-cash investing and financing activities supplemental information on the condensed consolidated statements of cash flow for the nine months ended September 30, 2022 have been conformed to the current year presentation. This reclassification did not impact any other amounts on the condensed consolidated statements of cash flows, including the cash flows from operating, investing, and financing activities. The remaining condensed consolidated financial statements were not impacted by this reclassification.

Summary of Significant Accounti

Summary of Significant Accounting Policies	9 Months Ended
	Sep. 30, 2023
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements and reported amounts of revenues and expenses during the reporting periods. The Company bases its estimates on various factors and information which may include, but are not limited to, history and prior experience, expected future results, new related events and economic conditions, which form the basis for making judgments about the carrying value of assets and liabilities that are not readily apparent from other sources. Actual results could differ materially from those estimates. Significant items subject to estimates and assumptions include those related to losses resulting from insurance claims inclusive of insurance related accruals, fair value of financial assets and liabilities, goodwill and identifiable intangible assets, leases, indirect tax obligations, legal contingencies, valuation allowance for deferred income taxes, and the valuation of stock-based compensation. Revenue Recognition The Company generates its revenue from its multimodal transportation networks that offer access to a variety of transportation options through the Lyft Platform and mobile-based applications. Substantially all, or approximately 85% or more, of the Company’s revenue is generated from its ridesharing marketplace that connects drivers and riders and is recognized in accordance with Accounting Standards Codification Topic 606 (“ASC 606”). In addition, the Company generates revenue in accordance with ASC 606 from licensing and data access, subscription fees and revenue from bikes and bike station hardware and software sales, which are not material components of the Company's condensed consolidated revenues. The Company also generates rental revenue from Flexdrive and its network of Light Vehicles which is recognized in accordance with Accounting Standards Codification Topic 842 (“ASC 842”). The table below presents the Company’s revenues as included on the condensed consolidated statements of operations (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 Revenue from contracts with customers (ASC 606) $ 1,069,939 $ 966,048 $ 2,963,594 $ 2,698,694 Rental revenue (ASC 842) 87,611 87,772 215,410 221,449 Total revenue $ 1,157,550 $ 1,053,820 $ 3,179,004 $ 2,920,143 Revenue from Contracts with Customers (ASC 606) The Company recognizes revenue for its rideshare marketplace in accordance with ASC 606. The Company generates revenue from service fees and commissions (collectively, “fees”) paid by drivers for use of the Lyft Platform and related activities to connect drivers with riders to facilitate and successfully complete rides via the Lyft App where the Company operates as a TNC. The Company recognizes revenue upon completion of each ride. Drivers enter into terms of service (“ToS”) with the Company in order to use the Lyft Driver App. Under the ToS, drivers agree that the Company retains the applicable fee as consideration for their use of the Lyft Platform and related activities from the fare and related charges it collects from riders on behalf of drivers. The Company is acting as an agent in facilitating the ability of a driver to provide a transportation service to a rider. The Company reports revenue on a net basis, reflecting the fee owed to the Company from a driver as revenue, and not the gross amount collected from the rider. As the Company’s customary business practice, a contract exists between the driver and the Company when the driver’s ability to cancel the ride lapses, which typically is upon pickup of the rider. The Company’s single performance obligation in the transaction is to connect drivers with riders to facilitate the completion of a successful transportation service for riders. The Company recognizes revenue upon completion of a ride as its performance obligation is satisfied upon the completion of the ride. The Company collects the fare and related charges from riders on behalf of drivers using the rider’s pre-authorized credit card or other payment mechanism and retains its fees before making the remaining disbursement to drivers; thus, the driver’s ability and intent to pay is not subject to significant judgment. The Company recognizes revenue from subscription fees paid to access transportation options through the Lyft Platform and mobile-based applications over the applicable subscription period in accordance with ASC 606. The Company also recognizes revenue from bikes, bike station hardware and software sales in accordance with ASC 606. The Company generates revenue from licensing and data access agreements. The Company is primarily responsible for fulfilling its promise to provide rideshare data and access to Flexdrive vehicles and bears the fulfillment risk, and the responsibility of providing the data, over the license period. The Company is acting as a principal in delivering the data and access licenses and presents revenue on a gross basis. Consideration allocated to each performance obligation, the data delivery and vehicle access, is determined by assigning the relative fair value to each of the performance obligations. Revenue is recorded upon delivery of the rideshare data and ratably over the quarter for access to fleet vehicles as the Company’s respective performance obligation is satisfied upon the delivery of each. These revenues are not material to the Company's consolidated revenue. Rental Revenue (ASC 842) The Company generates rental revenues primarily from Flexdrive and its network of Light Vehicles. Rental revenues are recognized for rental and rental related activities where an identified asset is transferred to the customer and the customer has the ability to control that asset in accordance with ASC 842. The Company operates a fleet of rental vehicles through its independently managed subsidiary, Flexdrive, comprised of both owned vehicles and vehicles leased from third-party leasing companies. The Company either leases or subleases vehicles to drivers, and as a result, the Company considers itself to be the accounting lessor or sublessor, as applicable, in these arrangements in accordance with ASC 842. Fleet operating costs include monthly fixed lease payments and other vehicle operating or ownership costs, as applicable. For vehicles that are subleased, sublease income and head lease expense for these transactions are recognized on a gross basis on the condensed consolidated financial statements. Drivers who rent vehicles are charged rental fees, which the Company collects from the driver by deducting such amounts from the driver’s earnings on the Lyft Platform. The Company owns and operates its Light Vehicles in some cities and operates city-owned Light Vehicles in other cities. Though the specific terms of arrangements with cities vary, the Company earns operations fees from cities or shares revenue generated by the systems with cities. Light Vehicle revenue is accounted for under ASC 842 for single-use rides. A single-use ride allows the user to select a specific Light Vehicle at the time the arrangement is entered into and provides the user the right to control the selected Light Vehicle for the desired term of the arrangement. Due to the short-term nature of the Flexdrive and Light Vehicle transactions, the Company classifies these rentals as operating leases. Revenue generated from single-use ride fees paid by Light Vehicle riders is recognized upon completion of each related ride. Revenue generated from Flexdrive is recognized evenly over the rental period, which is typically seven days or less. Enterprise and Trade Receivables The Company collects any fees owed for completed transactions on the Lyft Platform primarily from the rider’s authorized payment method. Uncollected fees are included in prepaid expenses and other current assets on the condensed consolidated balance sheets and represent receivables from (i) participants in the Company’s enterprise programs (“Enterprise Users”), where the transactions have been completed and the amounts owed from the Enterprise Users have either been invoiced or are unbilled as of the reporting date; and (ii) riders where the authorized payment method is a credit card but the fare amounts have not yet settled with third-party payment processors. Under the ToS, drivers agree that the Company retains the applicable fee as consideration for their use of the Lyft Platform and related activities from the fare and related charges it collects from riders on behalf of drivers. Accordingly, the Company has no trade receivables from drivers. The portion of the fare receivable to be remitted to drivers is included in accrued and other current liabilities on the condensed consolidated balance sheets. The Company records an allowance for credit losses for fees owed for completed transactions that may never settle or be collected in accordance with Accounting Standards Update No. 2016-13 "Financial Instruments—Credit Losses". The allowance for credit losses reflects the Company’s current estimate of expected credit losses inherent in the enterprise and trade receivables balance. In determining the expected credit losses, the Company considers its historical loss experience, the aging of its receivable balance, current economic and business conditions, and anticipated future economic events that may impact collectability. The Company reviews its allowance for credit losses periodically and as needed, and amounts are written off when determined to be uncollectible. The Company’s receivable balance, which consists primarily of amounts due from Enterprise Users and Light Vehicle partners, was $315.9 million and $278.9 million as of September 30, 2023 and December 31, 2022, respectively. The Company’s allowance for credit losses was $12.9 million and $11.6 million as of September 30, 2023 and December 31, 2022, respectively. The change in the allowance for credit losses for the nine months ended September 30, 2023 was immaterial. Incentive Programs The Company offers incentives to attract drivers, riders and Light Vehicle riders to use the Lyft Platform. Drivers generally receive cash incentives while riders and Light Vehicle riders generally receive free or discounted rides under such incentive programs. Incentives provided to drivers and Light Vehicle riders, the customers of the Company, are accounted for as a reduction of the transaction price. As the riders are not the Company’s customers, incentives provided to riders are generally recognized as sales and marketing expense except for certain pricing programs described below. Driver Incentives The Company offers various incentive programs to drivers, including minimum guaranteed payments, volume-based discounts and performance-based bonus payments. These driver incentives are similar to retrospective volume-based rebates and represent variable consideration that is typically settled within a week. The Company reduces the transaction price by the estimated amount of the incentives expected to be paid upon completion of the performance criteria by applying the most likely outcome method. Therefore, such driver incentives are recorded as a reduction to revenue. Driver incentives are recorded as a reduction to revenue if the Company does not receive a distinct good or service in exchange for the payment or cannot reasonably estimate the fair value of the good or service received. Driver incentives for referring new drivers or riders are accounted for as sales and marketing expense. The amount recorded as an expense is the lesser of the amount of the payment or the established fair value of the benefit received. The fair value of the benefit is established using amounts paid to third parties for similar services. Rideshare Rider Incentives The Company has several rideshare rider incentive programs, which are offered to encourage rider activity on the Lyft Platform. Generally, the rider incentive programs are as follows: (i) Market-wide marketing promotions. Market-wide promotions reduce the fare charged by drivers to riders for all or substantially all rides in a specific market. This type of incentive effectively reduces the overall pricing of the service provided by drivers for that specific market and the gross fare charged by the driver to the rider, and thereby results in a lower fee earned by the Company. Accordingly, the Company records this type of incentive as a reduction to revenue at the date it records the corresponding revenue transaction. (ii) Targeted marketing promotions. Targeted marketing promotions are used to promote the use of the Lyft Platform to a targeted group of riders. An example is a promotion where the Company offers a number of discounted rides (capped at a given number of rides) which are valid only during a limited period of time to a targeted group of riders. The Company believes that the incentives that provide consideration to riders to be applied to a limited number of rides are similar to marketing coupons. These incentives differ from the market-wide marketing promotions because they do not reduce the overall pricing of the service provided by drivers for a specific market. During the promotion period, riders not utilizing an incentive would be charged the full fare. These incentives represent marketing costs. When a rider redeems the incentive, the Company recognizes revenue equal to the transaction price and the cost of the incentive is recorded as sales and marketing expense. (iii) Rider referral programs. Under the rider referral program, the referring rider (the referrer) earns referral coupons when a new rider (the referee) completes their first ride on the Lyft Platform. The Company records the incentive as a liability at the time the incentive is earned by the referrer with the corresponding charge recorded to sales and marketing expense. Referral coupons typically expire within one year. The Company estimates breakage using its historical experience. As of September 30, 2023 and December 31, 2022, the rider referral coupon liability was not material. Light Vehicle Rider Incentives Incentives offered to Light Vehicle riders were not material for the three and nine months ended September 30, 2023 and 2022. For the three and nine months ended September 30, 2023, in relation to the driver, rider and Light Vehicle riders incentive programs, the Company recorded $241.2 million and $854.8 million as a reduction to revenue and $43.1 million and $90.0 million as sales and marketing expense. For the three and nine months ended September 30, 2022, in relation to the driver, rider and Light Vehicle riders incentive programs, the Company recorded $288.2 million and $1.0 billion as a reduction to revenue and $29.3 million and $86.9 million as sales and marketing expense. Investments Debt Securities The Company’s accounting for its investments in debt securities is based on the legal form of the security, the Company’s intended holding period for the security, and the nature of the transaction. Investments in debt securities include commercial paper, certificates of deposit, corporate bonds, and U.S. government securities. Investments in debt securities are classified as available-for-sale and are recorded at fair value. The Company considers an available-for-sale debt security to be impaired if the fair value of the investment is less than its amortized cost basis. The entire difference between the amortized cost basis and the fair value of the Company’s available-for-sale debt securities is recognized on the condensed consolidated statements of operations as an impairment if, (i) the fair value of the security is below its amortized cost and (ii) the Company intends to sell or is more likely than not required to sell the security before recovery of its amortized cost basis. If neither criterion is met, the Company evaluates whether the decline in fair value is due to credit losses or other factors. In making this assessment, the Company considers the extent to which the security’s fair value is less than amortized cost, changes to the rating of the security by third-party rating agencies, and adverse conditions specific to the security, among other factors. If the Company’s assessment indicates that a credit loss exists, the credit loss is measured based on the Company’s best estimate of the cash flows expected to be collected. When developing its estimate of cash flows expected to be collected, the Company considers all available information relevant to the collectability of the security, including past events, current conditions, and reasonable and supportable forecasts. Credit loss impairments are recognized through an allowance for credit losses adjustment to the amortized cost basis of the debt securities on the balance sheet with an offsetting credit loss expense on the condensed consolidated statements of operations. Impairments related to factors other than credit losses are recognized as an adjustment to the amortized cost basis of the security and an offsetting amount in accumulated other comprehensive income (loss), net of tax. As of September 30, 2023, the Company had not recorded any credit impairments. The Company determines realized gains or losses on the sale of debt securities on a specific identification method. The Company’s investments in debt securities include: (i) Cash and cash equivalents. Cash equivalents include certificates of deposits, commercial paper and corporate bonds that have an original maturity of 90 days or less and are readily convertible to known amounts of cash. (ii) Short-term investments. Short-term investments are comprised of commercial paper, certificates of deposit, and corporate bonds, which mature in twelve months or less. As a result, the Company classifies these investments as current assets in the accompanying condensed consolidated balance sheets. (iii) Restricted investments. Restricted investments are comprised of debt security investments in commercial paper, certificates of deposit, corporate bonds and U.S. government securities which are held in trust accounts at third-party financial institutions pursuant to certain contracts with insurance providers. Non-marketable Equity Securities The Company has elected to measure its investments in non-marketable equity securities at cost, with remeasurements to fair value only upon the occurrence of observable transactions for identical or similar investments of the same issuer or impairment. The Company qualitatively assesses whether indicators of impairment exist. Factors considered in this assessment include the investees’ financial and liquidity position, access to capital resources, and macroeconomic conditions, among others. If an impairment exists, the Company estimates the fair value of the investment by using the best information available, which may include cash flow projections or other available market data, and recognizes a loss for the amount by which the carrying value exceeds the fair value of the investment on the condensed consolidated statements of operations. Fair Value Measurements The Company measures assets and liabilities at fair value based on an expected exit price, which represents the amount that would be received on the sale of an asset or paid to transfer a liability in an orderly transaction between market participants. As such, fair value may be based on assumptions that market participants would use in pricing an asset or liability. The authoritative guidance on fair value measurements establishes a consistent framework for measuring fair value on either a recurring or nonrecurring basis, whereby inputs used in valuation techniques, are assigned a hierarchical level. The following are the hierarchical levels of inputs to measure fair value: Level 1 Observable inputs that reflect quoted prices (unadjusted) for identical assets or liabilities in active markets. Level 2 Inputs reflect quoted prices for identical assets or liabilities in markets that are not active; quoted prices for similar assets or liabilities in active markets; inputs other than quoted prices that are observable for the assets or liabilities; or inputs that are derived principally from or corroborated by observable market data by correlation or other means. Level 3 Unobservable inputs reflecting our own assumptions incorporated in valuation techniques used to determine fair value. These assumptions are required to be consistent with market participant assumptions that are reasonably available. The carrying values of the Company’s accounts payable and accrued and other liabilities approximate their respective fair values due to the short period of time to payment. Insurance Reserves The Company utilizes both a wholly-owned captive insurance subsidiary and third-party insurance, which may include deductibles and self-insured retentions, to insure or reinsure costs including auto liability, uninsured and underinsured motorist, auto physical damage, first party injury coverages including personal injury protection under state law and general business liabilities up to certain limits. The recorded liabilities reflect the estimated cost for claims incurred but not paid and claims that have been incurred but not yet reported and any estimable administrative run-out expenses related to the processing of these outstanding claim payments. Liabilities are determined on a quarterly basis by internal actuaries through an analysis of historical trends, changes in claims experience including consideration of new information and application of loss development factors among other inputs and assumptions. On an annual basis or more frequently as determined by management, an independent third-party actuary will evaluate the liabilities for appropriateness with claims reserve valuations. Insurance claims may take years to completely settle, and the Company has available limited historical loss experience because of the limited operational history. The Company makes certain assumptions based on currently available information and industry statistics, with the loss development factors as one of the most significant assumptions, and utilizes actuarial models and techniques to estimate the reserves. A number of factors can affect the actual cost of a claim, including the length of time the claim remains open, economic and healthcare cost trends and the results of related litigation. Furthermore, claims may emerge in future years for events that occurred in a prior year at a rate that differs from previous actuarial projections. The impact of these factors on ultimate costs for insurance is difficult to estimate and could be material. However, while the Company believes that the insurance reserve amount is adequate, the ultimate liability may be in excess of, or less than, the amount provided. As a result, the net amounts that will ultimately be paid to settle the liability and when amounts will be paid may significantly vary from the estimated amounts provided for on the condensed consolidated balance sheets. For example, disruptive factors may distort data, metrics and patterns and result in rapid increases in insurance cost and reserve deficiency. These disruptive factors can include recent economic conditions and ongoing global events such as the high inflationary environment, increased litigation, and higher than expected losses across the commercial auto industry. The Company continues to review its insurance estimates in a regular, ongoing process as historical loss experience develops, additional claims are reported and settled, and the legal, regulatory and economic environment evolves. On April 22, 2021, the Company’s wholly-owned subsidiary, Pacific Valley Insurance Company, Inc. (“PVIC”), entered into a Quota Share Reinsurance Agreement (the “Reinsurance Agreement”) with DARAG Bermuda LTD (“DARAG”), under which DARAG reinsured a legacy portfolio of auto insurance policies, based on reserves in place as of March 31, 2021, for $183.2 million of coverage above the liabilities recorded as of that date (the “Reinsurance Transaction”). Under the terms of the Reinsurance Agreement, PVIC ceded to DARAG approximately $251.3 million of certain legacy insurance liabilities for policies underwritten during the period of October 1, 2018 to October 1, 2020, with an aggregate limit of $434.5 million, for a premium of $271.5 million. Losses ceded under the Reinsurance Agreement that exceed $271.5 million, but are below the aggregate limit of $434.5 million, resulted in the recognition of a deferred gain liability. The deferred gain liability was amortized and recognized as a benefit to the statement of operations over the estimated remaining settlement period of the ceded reserves. The settlement period of the ceded reserves was based on the life-to-date cumulative losses collected and likely extends over periods longer than a quarter. The amount of the deferral that was amortized was recalculated each period based on loss payments and updated estimates of the portfolio’s total losses. When the amount and timing of the reinsurance recoveries were uncertain, the recovery method was used to calculate the amount of amortization in period. The deferral of gains had a negative impact in the respective period to cost of revenue as the losses on direct liabilities were not offset by gains from excess benefits under the Reinsurance Agreement. The amortization of these deferred gains provided a benefit to cost of revenue over multiple periods equal to the excess benefits received. Deferred gain liabilities for the Reinsurance Transaction are included in accruals and other current liabilities on the condensed consolidated balance sheets. On June 21, 2022, PVIC and DARAG completed a transaction to effectively commute and settle the previous Reinsurance Agreement. On February 8, 2023, PVIC and a DARAG affiliate, DNA Insurance Company (“DNA”), entered into a Commutation and Mutual Release Agreement, whereby DNA agreed to exercise its option to fully settle and commute the Adverse Development Cover Reinsurance Agreement ("ADC"). Refer to Note 4 "Supplemental Financial Statement Information - Commutation of the Reinsurance Agreement" to the condensed consolidated financial statements for information regarding this transaction. Leases In accordance with ASC 842, the Company determines if an arrangement is or contains a lease at contract inception by assessing whether the arrangement contains an identified asset and whether the lessee has the right to control such asset. The Company determines the classification and measurement of its leases upon lease commencement. The Company enters into certain agreements as a lessor and either leases or subleases the underlying asset in the agreement to customers. The Company also enters into certain agreements as a lessee. If any of the following criteria are met, the Company classifies the lease as a financing lease (as a lessee) or as a direct financing or sales-type lease (both as a lessor): • The lease transfers ownership of the underlying asset to the lessee by the end of the lease term; • The lease grants the lessee an option to purchase the underlying asset that the Company is reasonably certain to exercise; • The lease term is for 75% or more of the remaining economic life of the underlying asset, unless the commencement date falls within the last 25% of the economic life of the underlying asset; • The present value of the sum of the lease payments equals or exceeds 90% of the fair value of the underlying asset; or • The underlying asset is of such a specialized nature that it is expected to have no alternative use to the lessor at the end of the lease term. Leases that do not meet any of the above criteria are accounted for as operating leases. Lessor The Company’s lease arrangements include vehicle rentals to drivers or renters under the Flexdrive program and Light Vehicle rentals to single-use riders. Due to the short-term nature of these arrangements, the Company classifies these leases as operating leases. The Company does not separate lease and non-lease components, such as insurance or roadside assistance provided to the lessee, in its lessor lease arrangements. Lease payments are primarily fixed and are recognized as revenue in the period over which the lease arrangement occurs. Taxes or other fees assessed by governmental authorities that are both imposed on and concurrent with each lease revenue-producing transaction and collected by the Company from the lessee are excluded from the consideration in its lease arrangements. The Company mitigates residual value risk of its leased assets by performing regular maintenance and repairs, as necessary, and through periodic reviews of asset depreciation rates based on the Company's ongoing assessment of present and estimated future market conditions. Lessee The Company’s leases include real estate property to support its operations and Flexdrive vehicles that may be used by drivers to provide ridesharing services on the Lyft Platform. For leases with a term greater than 12 months, the Company records the related right-of-use asset and lease liability at the present value of lease payments over the term. The lease terms may include options to extend or terminate the lease when it is reasonably certain that the Company will exercise such options. The Company does not separate lease and non-lease components of contracts for real estate property leases, but has elected to do so for vehicle leases when non-lease components exist in these arrangements. For certain leases, the Company also applies a portfolio approach to account for right-of-use assets and lease liabilities that are similar in nature and have nearly identical contract provisions. The Company’s leases do not provide a readily determinable implicit rate. Therefore, the Company estimates its incremental borrowing rate to discount the lease payments based on information available at lease commencement. The Company determines its incremental borrowing rate based on the rate of interest that the Company would have to pay to borrow on a collateralized basis over a similar term for an amount equal to the lease payments in a similar economic environment. Lease payments may be fixed or variable; however, only fixed payments are included in the Company’s lease liability calculation. Operating leases are included in operating lease right-of-use assets, operating lease liabilities — current and operating lease liabilities on the condensed consolidated balance sheets. Lease costs for the Company's operating leases are recognized on a straight-line basis primarily within operating expenses over the lease term. Finance leases are included in property and equipment, net, accrued and other current liabilities, and other liabilities on the condensed consolidated balance sheets. Finance lease assets are amortized on a straight-line basis over the shorter of the estimated useful lives of the assets or the lease term in cost of revenue on the condensed consolidated statements of operations. The interest component of finance leases is included in cost of revenue on the condensed consolidated statements of operations and recognized using the effective interest method over the lease term. Variable lease payments are recognized primarily in operating expenses in the period in which the obligation for those payments is incurred. Similar to other long-lived assets discussed below, the Company measures recoverability of these assets by comparing the carrying amounts to the future undiscounted cash flows that the assets or the asset group are expected to generate. If the carrying value of the assets are not recoverable, the impairment recognized is measured as the amount by which the carrying value of the asset exceeds its fair value. For leased assets, such circumstances would include the decision to leave a leased facility prior to the end of the minimum lease term or subleases for which estimated cash flows do not fully cover the costs of the associated lease. The Company committed to a decision to exit and sublease or cease use of certain facilities to align with the Company’s anticipated operating needs and incurred impairment charges related to real estate operating right-of-use assets of $2.5 million, $10.5 million, and $55.3 million during the quarters ended June 30, 2023, March 31, 2023, and December

Acquisitions

Acquisitions	9 Months Ended
	Sep. 30, 2023
Business Combination and Asset Acquisition [Abstract]
Acquisitions	Acquisitions Acquisition of PBSC Urban Solutions Inc. ( “ PBSC ” ) On May 17, 2022 (the “Closing Date”), the Company completed its acquisition of one hundred percent of the outstanding equity of PBSC, a global leader in bikeshare that supplies stations and bikes to markets internationally, for a total purchase price of $163.5 million inclusive of $14.1 million in estimated fair value of contingent consideration. The acquisition was treated as a business combination and increases the Company’s scale in micromobility by leveraging PBSC’s deep sales experience and customer relationships. Acquisition costs were immaterial and are included in general and administrative expenses in the condensed consolidated statements of operations. During the second quarter of 2023, the Company paid out earn out incentives of $15.0 million, which were previously included in contingent consideration on the condensed consolidated balance sheet. The earn out incentives were based on hardware and software for new system sales, either earned or committed during the earn out period. The following table summarizes the fair value of the assets acquired and liabilities assumed at the Closing Date (in thousands): Cash and cash equivalents $ 2,665 Prepaid expenses and other current assets 34,845 Other investments 22,175 Property and equipment 2,202 Operating lease right-of-use assets 786 Identifiable intangible assets 45,047 Total identifiable assets acquired 107,720 Accounts payable 6,004 Accrued and other liabilities 3,344 Operating lease liabilities — current 292 Operating lease liabilities 494 Other liabilities 14,678 Total liabilities assumed 24,812 Non-controlling interest (recorded to equity) 140 Net assets assumed 82,768 Goodwill 80,748 Total acquisition consideration $ 163,516 The Company concluded the purchase accounting for the acquisition of PBSC during the second quarter of 2023. During the measurement period, the Company recorded immaterial purchase price adjustments resulting in a decrease in goodwill. The Company adopted ASU 2021-08 on April 1, 2022, prior to the acquisition of PBSC, the Company's only acquisition in 2022. Upon the adoption of this update, contract assets and contract liabilities (i.e., deferred revenue) acquired in a business combination are recognized and measured by the acquirer on the acquisition date in accordance with ASC 606 as if the acquirer had originated the contracts, which would generally result in an acquirer recognizing and measuring acquired contract assets and contract liabilities consistent with how they were recognized and measured in the acquiree’s financial statements. Therefore, PBSC’s historical deferred revenue balance as of May 17, 2022 has been included in the purchase price allocation in accordance with ASU 2021-08 . The goodwill is attributable to (i) expanded sales opportunities for the Company's current products and services by leveraging PBSC's assembled workforce and (ii) cost synergies associated with economies of scale and a streamlined supply chain as the combined businesses operate on a global scale. The acquisition is a non-taxable business combination and goodwill recognized in the acquisition is not deductible for tax purposes. The Company recorded intangible assets at their fair value, which consisted of the following (in thousands): Estimated useful life (in years) Amount Tradename 2 $ 1,009 Customer relationships – cities 7 - 11 22,157 Developed technology (hardware and software) 2 - 3 21,881 Total intangible assets $ 45,047 The fair value of the tradename was determined to be $1.0 million with an estimated useful life of two years. The fair value of the tradename was determined using the relief-from-royalty method under the income approach. This involves forecasting avoided royalties, reducing them by taxes and discounting the resulting net cash flows to a present value using an appropriate discount rate. The fair value of the customer relationships – cities was determined to be $22.2 million with estimated useful lives between seven The fair value of the developed technology intangible asset was determined to be $21.9 million with an estimated useful life between two Judgment was applied for a number of assumptions in valuing the identified intangible assets, including revenue and cash flow forecasts, technology life, royalty rate, obsolescence and discount rate. Refer to Note 14 “Variable Interest Entities” to the condensed consolidated financial statements for information regarding the variable interest entities included in this transaction. The results of operations for the acquired business have been included in the condensed consolidated statements of operations for the period subsequent to the Company's acquisition of PBSC. PBSC’s results of operations for periods prior to this acquisition were not material to the condensed consolidated statements of operations and, accordingly, pro forma financial information has not been presented.

Supplemental Financial Statemen

Supplemental Financial Statement Information	9 Months Ended
	Sep. 30, 2023
Additional Financial Information Disclosure [Abstract]
Supplemental Financial Statement Information	Supplemental Financial Statement Information Cash Equivalents and Short-Term Investments The following tables summarize the cost or amortized cost, gross unrealized gain, gross unrealized loss and fair value of the Company’s cash equivalents and short-term investments as of the dates indicated (in thousands): September 30, 2023 Cost or Unrealized Estimated Gains Losses Unrestricted Balances (1) Money market funds $ 64,750 $ — $ — $ 64,750 Money market deposit accounts 164,864 — — 164,864 Certificates of deposit 195,843 44 (30) 195,857 Commercial paper 868,305 54 (523) 867,836 U.S. government securities 209,433 19 (27) 209,425 Total unrestricted cash equivalents and short-term investments 1,503,195 117 (580) 1,502,732 Restricted Balances (2) Money market funds 54,698 — — 54,698 Term deposits 3,539 — — 3,539 Certificates of deposit 168,008 40 (21) 168,027 Commercial paper 568,911 41 (260) 568,692 U.S. government securities 230,893 22 (42) 230,873 Total restricted cash equivalents and investments 1,026,049 103 (323) 1,025,829 Total unrestricted and restricted cash equivalents and investments $ 2,529,244 $ 220 $ (903) $ 2,528,561 _______________ (1) Excludes $163.9 million of cash, which is included within the $1.7 billion of cash and cash equivalents and short-term investments on the condensed consolidated balance sheets. (2) Excludes $1.4 million of restricted cash, which is included within the $1.0 billion of restricted cash and cash equivalents and restricted short-term investments on the condensed consolidated balance sheets. December 31, 2022 Cost or Unrealized Estimated Gains Losses Unrestricted Balances (1) Money market funds $ 3,276 $ — $ — $ 3,276 Money market deposit accounts 126,994 — — 126,994 Term deposits 5,000 — — 5,000 Certificates of deposit 502,374 295 (510) 502,159 Commercial paper 964,410 403 (1,663) 963,150 Corporate bonds 61,605 — (104) 61,501 U.S. government securities 7,059 1 — 7,060 Total unrestricted cash equivalents and short-term investments 1,670,718 699 (2,277) 1,669,140 Restricted Balances (2) Money market funds 93,362 — — 93,362 Term deposits 3,539 — — 3,539 Certificates of deposit 355,241 174 (437) 354,978 Commercial paper 596,213 243 (865) 595,591 Corporate bonds 14,933 — (17) 14,916 U.S. government securities 74,699 2 (167) 74,534 Total restricted cash equivalents and investments 1,137,987 419 (1,486) 1,136,920 Total unrestricted and restricted cash equivalents and investments $ 2,808,705 $ 1,118 $ (3,763) $ 2,806,060 _______________ (1) Excludes $126.5 million of cash and $1.1 million in marketable equity securities, which is included within the $1.8 billion of cash and cash equivalents and short-term investments on the condensed consolidated balance sheets. (2) Excludes $1.3 million of restricted cash, which is included within the $1.1 billion of restricted cash and cash equivalents and restricted short-term investments on the condensed consolidated balance sheets. The Company’s short-term investments consist of available-for-sale debt securities and term deposits. The term deposits are at cost, which approximates fair value. The weighted-average remaining maturity of the Company’s investment portfolio was less than one year as of the periods presented. No individual security incurred continuous unrealized losses for greater than 12 months. The Company purchases investment grade marketable debt securities which are rated by nationally recognized statistical credit rating organizations in accordance with its investment policy. This policy is designed to minimize the Company's exposure to credit losses. As of September 30, 2023, the credit-quality of the Company’s marketable available-for-sale debt securities had remained stable. The unrealized losses recognized on marketable available-for-sale debt securities as of September 30, 2023 were primarily related to the continued market volatility associated with uncertain economic outlook. The contractual terms of these investments do not permit the issuer to settle the securities at a price less than the amortized cost basis of the investments and it is not expected that the investments would be settled at a price less than their amortized cost basis. The Company does not intend to sell the investments and it is not more likely than not that the Company will be required to sell the investments before recovery of their amortized cost basis. The Company is not aware of any specific event or circumstance that would require the Company to change its quarterly assessment of credit losses for any marketable available-for-sale debt security as of September 30, 2023. These estimates may change, as new events occur and additional information is obtained, and will be recognized on the condensed consolidated financial statements as soon as they become known. No credit losses were recognized as of September 30, 2023 for the Company’s marketable and non-marketable debt securities. The following table summarizes the Company’s available-for-sale debt securities in an unrealized loss position for which no allowance for credit losses was recorded, aggregated by major security type (in thousands): September 30, 2023 Estimated Fair Value Unrealized Losses Certificates of deposit $ 123,327 $ (51) Commercial paper 836,310 (783) U.S. government securities 95,143 (69) Total available-for-sale debt securities in an unrealized loss position $ 1,054,780 $ (903) Accrued and Other Current Liabilities Accrued and other current liabilities consisted of the following as of the dates indicated (in thousands): September 30, 2023 December 31, 2022 Insurance-related accruals $ 619,830 $ 566,831 Legal and tax related accruals 307,448 458,209 Ride-related accruals 215,665 181,138 Insurance claims payable and related fees 53,904 53,280 Long-term debt, current 26,442 36,287 Deferred gain related to the Reinsurance Transaction (1) — 2,357 Other 303,730 263,507 Accrued and other current liabilities $ 1,527,019 $ 1,561,609 _______________ (1) Refer to Note 2 “Summary of Significant Accounting Policies” above and the rest of this Note 4 “Supplemental Financial Information - Insurance Reserves” below for more information on this deferred gain. Insurance Reserves Reinsurance of Certain Legacy Auto Liability Insurance On April 22, 2021, the Company’s wholly-owned subsidiary, PVIC, entered into a Reinsurance Agreement with DARAG, under which DARAG reinsured a legacy portfolio of auto insurance policies, based on reserves in place as of March 31, 2021, for $183.2 million of coverage above the liabilities recorded as of that date. Under the terms of the Reinsurance Agreement, PVIC ceded to DARAG approximately $251.3 million of certain legacy insurance liabilities for policies underwritten during the period of October 1, 2018 to October 1, 2020, with an aggregate limit of $434.5 million, for a premium of $271.5 million. The Reinsurance Agreement was on a funds withheld basis, meaning that funds are withheld by PVIC from the insurance premium owed to DARAG in order to pay future reinsurance claims on DARAG’s behalf. Upon consummation of the Reinsurance Transaction, a reinsurance recoverable of $251.3 million was established, and since a contractual right of offset exists, the reinsurance recoverable was netted against the funds withheld liability balance of $271.5 million for a $20.2 million net funds withheld liability balance included in accrued and other current liabilities on the condensed consolidated balance sheet. In addition to the initial funds withheld balance of $271.5 million, additional coverage of certain legacy insurance liabilities was collateralized by a trust account established by DARAG for the benefit of PVIC, which was $75.0 million upon consummation. At the inception of the Reinsurance Agreement, a loss of approximately $20.4 million for the total cost of the Reinsurance Transaction was recognized on the condensed consolidated statement of operations for the year ended December 31, 2021, with $20.2 million in cost of revenue and $0.2 million in general and administrative expenses. Commutation of the Reinsurance Agreement On June 21, 2022, PVIC and DARAG entered into a Commutation Agreement, which effectively commuted and settled the previous Reinsurance Agreement. Under the terms of the Commutation Agreement, DARAG released $89.3 million of assets held in trust to PVIC and the remaining balance of the funds withheld liability of $90.3 million from the Reinsurance Transaction for a total consideration of $178.6 million. In addition, the Commutation Agreement caused a DARAG affiliate, DNA, to simultaneously enter into an Adverse Development Cover Reinsurance Agreement with PVIC (the Commutation Agreement and the ADC will collectively be referred to as the “Commutation Transaction”). Under the terms of the ADC, DNA agreed to reinsure up to $20 million of the legacy insurance liabilities contemplated in the Reinsurance Agreement for a premium of $1.0 million, which would be retained by PVIC on a funds withheld basis. DNA also had the option to commute this agreement for $5.0 million prior to November 1, 2023, which would be offset by any premiums retained as funds withheld. As a result of the Commutation Transaction, the Company noted the following impacts on its financial statements: • The Company recognized a $36.8 million gain in cost of revenue in the three months ended June 30, 2022, including amortization of a portion of the previously recognized deferred gain. • The Company reduced its reinsurance recoverable by $247.4 million and the funds withheld liability balance by $90.3 million. • The Company amortized deferred gains related to losses ceded under the Reinsurance Agreement by $105.7 million. On February 8, 2023, PVIC and DNA entered into a Commutation and Mutual Release Agreement, whereby DNA agreed to exercise its option to fully settle and commute the ADC. DNA commuted the ADC for $5.0 million consisting of a $4.0 million payment made to PVIC and the release of $1.0 million premium which was retained by PVIC as a funds withheld. As a result, PVIC recognized a gain of $3.4 million, comprised of $2.4 million amortization of the remaining deferred gain and $1.0 million related to the release of the funds withheld. PVIC also reduced its reinsurance recoverable by $4.0 million related to the payment received. Other Income (Expense), Net The following table sets forth the primary components of other income (expense), net as reported on the condensed consolidated statements of operations (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 Interest income $ 36,869 $ 12,945 $ 105,429 $ 20,321 Gain (loss) on sale of securities, net (6) (28) (201) (61) Foreign currency exchange gains (losses), net (2,484) (7,121) 294 (6,436) Sublease income 1,183 2,555 3,737 10,099 Gain on equity method investment (1) — — 12,926 — Impairment charges — (135,714) — (135,714) Other, net (1,163) 1,208 2,504 (3,648) Other income (expense), net $ 34,399 $ (126,155) $ 124,689 $ (115,439) _______________

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Sep. 30, 2023
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements Financial Assets and Liabilities Measured at Fair Value on a Recurring Basis The following tables set forth the Company’s financial assets and liabilities that were measured at fair value on a recurring basis as of the dates indicated by level within the fair value hierarchy (in thousands): September 30, 2023 Level 1 Level 2 Level 3 Total Assets Unrestricted cash equivalents and investments (1) Money market funds $ 64,750 $ — $ — $ 64,750 Certificates of deposit — 195,857 — 195,857 Commercial paper — 867,836 — 867,836 U.S. government securities — 209,425 — 209,425 Total unrestricted cash equivalents and short-term investments 64,750 1,273,118 — 1,337,868 Restricted cash equivalents and investments (2) Money market funds 54,698 — — 54,698 Certificates of deposit — 168,027 — 168,027 Commercial paper — 568,692 — 568,692 U.S. government securities — 230,873 — 230,873 Total restricted cash equivalents and investments 54,698 967,592 — 1,022,290 Total financial assets $ 119,448 $ 2,240,710 $ — $ 2,360,158 _______________ (1) $163.9 million of cash, $164.9 million of money market deposit accounts and $3.5 million of term deposits are not subject to recurring fair value measurement and therefore excluded from this table. However, these balances are included within the $1.7 billion of cash and cash equivalents and short-term investments on the condensed consolidated balance sheets. (2) $1.4 million of restricted cash is not subject to recurring fair value measurement and therefore excluded from this table. However, this balance is included within the $1.0 billion of restricted cash and cash equivalents and restricted short-term investments on the condensed consolidated balance sheets. December 31, 2022 Level 1 Level 2 Level 3 Total Assets Unrestricted cash equivalents and investments (1) Money market funds $ 3,276 $ — $ — $ 3,276 Certificates of deposit — 502,159 — 502,159 Commercial paper — 963,150 — 963,150 Corporate bonds — 61,501 — 61,501 U.S. government securities — 7,060 — 7,060 Total unrestricted cash equivalents and short-term investments 3,276 1,533,870 — 1,537,146 Restricted cash equivalents and investments (2) Money market funds 93,362 — — 93,362 Certificates of deposit — 354,978 — 354,978 Commercial paper — 595,591 — 595,591 Corporate bonds — 14,916 — 14,916 U.S. government securities — 74,534 — 74,534 Total restricted cash equivalents and investments 93,362 1,040,019 — 1,133,381 Marketable equity securities (3) 1,136 — — 1,136 Total financial assets $ 97,774 $ 2,573,889 $ — $ 2,671,663 Liabilities Contingent consideration (4) $ — $ — $ 15,000 $ 15,000 Total financial liabilities $ — $ — $ 15,000 $ 15,000 _______________ (1) $126.5 million of cash, $127.0 million of money market deposit accounts and $5.0 million of term deposits are not subject to recurring fair value measurement and therefore excluded from this table. However, these balances are included within the $1.8 billion of cash and cash equivalents and short-term investments on the condensed consolidated balance sheets. (2) $1.3 million of restricted cash and $3.5 million of a restricted term deposit are not subject to recurring fair value measurement and therefore excluded from this table. However, these balances are included within the $1.1 billion of restricted cash and cash equivalents and restricted short-term investments on the condensed consolidated balance sheets. (3) Included in other investments on the condensed consolidated balance sheets. (4) In the second quarter of 2022, the Company completed the acquisition of PBSC which included up to $15.0 million in contingent consideration to be paid over the next year. The contingent consideration was classified as a liability and is included in accrued and other current liabilities on the condensed consolidated balance sheets. Refer to Note 3 "Acquisitions" to the condensed consolidated financial statements for information regarding this contingent consideration. During the nine months ended September 30, 2023, the Company did not make any transfers between the levels of the fair value hierarchy. The following table provides a reconciliation of the Company's Level 3 financial liabilities (in thousands): Nine Months Ended September 30, 2023 2022 Balance at beginning of period $ 15,000 $ — Additions — 14,100 Payments (15,000) — Change in fair value — 900 Balance at end of period (1) $ — $ 15,000 _______________ (1) Relates to the contingent consideration from the acquisition of PBSC in the second quarter of 2022 which was paid out during the second quarter of 2023. The contingent consideration was classified as a liability and was included in accrued and other current liabilities on the condensed consolidated balance sheets. Refer to Note 3 "Acquisitions" to the condensed consolidated financial statements for information regarding this contingent consideration. Financial Assets and Liabilities Measured at Fair Value on a Non-Recurring Basis The Company’s non-marketable equity securities are investments in privately held companies without readily determinable fair values and the carrying value of these non-marketable equity securities are remeasured to fair value 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. In June 2021 and June 2022, the Company received investments in a non-marketable equity security in a privately held company without a readily determinable market value as part of licensing and data access agreements. The investment had an initial carrying value of $128.1 million as of June 30, 2022, which was categorized as Level 3. The Company did not have the ability to exercise significant influence over this privately held company and had elected to measure this investment as a non-marketable equity security and classified it in other investments on the condensed consolidated balance sheet. In the three months ended September 30, 2022, the entire amount of the investment in the non-marketable equity security was impaired due to the announced winding down of the equity investee in October 2022. In addition to the impairment of this non-marketable equity security, an other asset was impaired, resulting in a total impairment of $135.7 million recorded to other income (expense), net on the condensed consolidated statement of operations. In February 2022, the issuer of the Company's $10.0 million investment in non-marketable equity securities in a privately held company was acquired by a publicly-traded company. As a result of the acquisition in exchange for the securities in the privately-held entity, the Company received common stock of a publicly-traded entity with a value of $8.4 million upon receipt, with the remainder to be received in cash. These shares were classified as marketable equity securities and measured at fair value on a recurring basis. The shares were categorized as Level 1 and changes in fair value were recorded within other income (expense), net in the condensed consolidated statements of operations. In March 2022, the Company sold its shares resulting in a recognized loss recorded to other income (expense), net in the condensed consolidated statements of operations. The following table provides a reconciliation of the Company's financial assets measured at fair value on a non-recurring basis within other investments on the condensed consolidated balance sheets (in thousands): Nine Months Ended September 30, 2023 2022 Balance at beginning of period $ 5,903 $ 80,411 Additions (1) — 64,043 Change in fair value (19) (138,671) Balance at end of period $ 5,884 $ 5,783 _______________

Leases

Leases	9 Months Ended
	Sep. 30, 2023
Leases [Abstract]
Leases	Leases Real Estate Operating Leases The Company leases real estate property at approximately 63 locations of which all leases have commenced as of September 30, 2023. These leases are classified as operating leases. As of September 30, 2023, the remaining lease terms vary from approximately three months to seven years. For certain leases the Company has options to extend the lease term for periods varying from one month to ten years. These renewal options are not considered in the remaining lease term unless it is reasonably certain that the Company will exercise such options. For leases with an initial term of 12 months or longer, the Company has recorded a right-of-use asset and lease liability representing the fixed component of the lease payment. Any fixed payments related to non-lease components, such as common area maintenance or other services provided by the landlord, are accounted for as a component of the lease payment and therefore, a part of the total lease cost. Flexdrive Program The Company operates a fleet of rental vehicles through its independently managed subsidiary, a portion of which are leased from third-party vehicle leasing companies. These leases are classified as finance leases and are included in property and equipment, net on the condensed consolidated balance sheets. As of September 30, 2023, the remaining lease terms vary between two months to five years. These leases generally do not contain any non-lease components and, as such, all payments due under these arrangements are allocated to the respective lease component. Lease Position as of September 30, 2023 The table below presents the lease-related assets and liabilities recorded on the condensed consolidated balance sheets (in thousands, except for remaining lease terms and percentages): September 30, 2023 December 31, 2022 Operating Leases Assets Operating lease right-of-use assets (1) $ 100,479 $ 135,213 Liabilities Operating lease liabilities, current $ 42,330 $ 45,803 Operating lease liabilities, non-current 141,894 176,356 Total operating lease liabilities $ 184,224 $ 222,159 Finance Leases Assets Finance lease right-of-use assets (2) $ 73,173 $ 32,887 Liabilities Finance lease liabilities, current (3) 21,866 15,053 Finance lease liabilities, non-current (4) 54,343 19,921 Total finance lease liabilities $ 76,209 $ 34,974 Weighted-average remaining lease term (years) Operating leases 4.7 5.1 Finance leases 3.6 2.5 Weighted-average discount rate Operating leases 6.7 % 6.4 % Finance leases 6.4 % 5.2 % _______________ (1) The Company committed to a decision to exit and sublease or cease use of certain facilities to align with the Company’s anticipated operating needs and incurred charges related to real estate operating right-of-use assets of $2.5 million in the second quarter of 2023, $10.5 million in the first quarter of 2023 and $55.3 million in the fourth quarter of 2022. (2) This balance is included within property and equipment, net on the condensed consolidated balance sheets and is primarily related to Flexdrive leases. (3) This balance is included within other current liabilities on the condensed consolidated balance sheets and is primarily related to Flexdrive leases. (4) This balance is included within other liabilities on the condensed consolidated balance sheets and is primarily related to Flexdrive leases. Lease Costs The table below presents certain information related to the costs for operating leases and finance leases for the nine months ended September 30, 2023 and 2022 (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 Operating Leases Operating lease cost $ 9,587 $ 16,916 $ 31,076 $ 52,078 Finance Leases Amortization of right-of-use assets 5,395 3,828 14,017 11,589 Interest on lease liabilities 1,082 261 2,143 676 Other Lease Costs Short-term lease cost 920 1,191 2,866 4,176 Variable lease cost (1) 2,575 3,796 7,665 12,790 Total lease cost $ 19,559 $ 25,992 $ 57,767 $ 81,309 _______________ (1) Consists primarily of common area maintenance, taxes and utilities for real estate leases, and certain vehicle-related charges under the Flexdrive program. Sublease income was $1.2 million and $3.7 million for the three and nine months ended September 30, 2023, respectively, and $2.6 million and $10.1 million for the three and nine months ended September 30, 2022, respectively, which were primarily related to subleases from the Company's transaction with Woven Planet Holdings in the third quarter of 2021. Sublease income is included within other income, net on the condensed consolidated statement of operations. The related lease expense for these leases is included within operating expenses on the condensed consolidated statement of operations. The Company committed to a plan of termination which included restructuring charges related to a decision to exit and sublease or cease use of certain facilities to align with the Company’s anticipated operating needs. Refer to Note 13 “Restructuring” to the condensed consolidated financial statements for information regarding this transaction. The table below presents certain supplemental information related to the cash flows for operating and finance leases recorded on the condensed consolidated statements of cash flows (in thousands): Nine Months Ended September 30, 2023 2022 Cash paid for amounts included in the measurement of lease liabilities Operating cash flows from operating leases $ 44,579 $ 58,005 Operating cash flows from finance leases 2,284 689 Financing cash flows from finance leases 35,935 21,706 Undiscounted Cash Flows The table below reconciles the undiscounted cash flows for each of the first five years and total of the remaining years to the lease liabilities recorded on the condensed consolidated balance sheet as of September 30, 2023 (in thousands): Operating Leases Finance Leases Total Leases Remainder of 2023 $ 9,581 $ 14,120 $ 23,701 2024 57,310 23,293 80,603 2025 46,029 19,933 65,962 2026 32,417 11,430 43,847 2027 27,532 8,166 35,698 Thereafter 43,455 8,274 51,729 Total minimum lease payments 216,324 85,216 301,540 Less: amount of lease payments representing interest (32,100) (9,007) (41,107) Present value of future lease payments 184,224 76,209 260,433 Less: current obligations under leases (42,330) (21,866) (64,196) Long-term lease obligations $ 141,894 $ 54,343 $ 196,237 Future lease payments receivable in car rental transactions under the Flexdrive Program are not material since the lease term is less than a month.
Leases	Leases Real Estate Operating Leases The Company leases real estate property at approximately 63 locations of which all leases have commenced as of September 30, 2023. These leases are classified as operating leases. As of September 30, 2023, the remaining lease terms vary from approximately three months to seven years. For certain leases the Company has options to extend the lease term for periods varying from one month to ten years. These renewal options are not considered in the remaining lease term unless it is reasonably certain that the Company will exercise such options. For leases with an initial term of 12 months or longer, the Company has recorded a right-of-use asset and lease liability representing the fixed component of the lease payment. Any fixed payments related to non-lease components, such as common area maintenance or other services provided by the landlord, are accounted for as a component of the lease payment and therefore, a part of the total lease cost. Flexdrive Program The Company operates a fleet of rental vehicles through its independently managed subsidiary, a portion of which are leased from third-party vehicle leasing companies. These leases are classified as finance leases and are included in property and equipment, net on the condensed consolidated balance sheets. As of September 30, 2023, the remaining lease terms vary between two months to five years. These leases generally do not contain any non-lease components and, as such, all payments due under these arrangements are allocated to the respective lease component. Lease Position as of September 30, 2023 The table below presents the lease-related assets and liabilities recorded on the condensed consolidated balance sheets (in thousands, except for remaining lease terms and percentages): September 30, 2023 December 31, 2022 Operating Leases Assets Operating lease right-of-use assets (1) $ 100,479 $ 135,213 Liabilities Operating lease liabilities, current $ 42,330 $ 45,803 Operating lease liabilities, non-current 141,894 176,356 Total operating lease liabilities $ 184,224 $ 222,159 Finance Leases Assets Finance lease right-of-use assets (2) $ 73,173 $ 32,887 Liabilities Finance lease liabilities, current (3) 21,866 15,053 Finance lease liabilities, non-current (4) 54,343 19,921 Total finance lease liabilities $ 76,209 $ 34,974 Weighted-average remaining lease term (years) Operating leases 4.7 5.1 Finance leases 3.6 2.5 Weighted-average discount rate Operating leases 6.7 % 6.4 % Finance leases 6.4 % 5.2 % _______________ (1) The Company committed to a decision to exit and sublease or cease use of certain facilities to align with the Company’s anticipated operating needs and incurred charges related to real estate operating right-of-use assets of $2.5 million in the second quarter of 2023, $10.5 million in the first quarter of 2023 and $55.3 million in the fourth quarter of 2022. (2) This balance is included within property and equipment, net on the condensed consolidated balance sheets and is primarily related to Flexdrive leases. (3) This balance is included within other current liabilities on the condensed consolidated balance sheets and is primarily related to Flexdrive leases. (4) This balance is included within other liabilities on the condensed consolidated balance sheets and is primarily related to Flexdrive leases. Lease Costs The table below presents certain information related to the costs for operating leases and finance leases for the nine months ended September 30, 2023 and 2022 (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 Operating Leases Operating lease cost $ 9,587 $ 16,916 $ 31,076 $ 52,078 Finance Leases Amortization of right-of-use assets 5,395 3,828 14,017 11,589 Interest on lease liabilities 1,082 261 2,143 676 Other Lease Costs Short-term lease cost 920 1,191 2,866 4,176 Variable lease cost (1) 2,575 3,796 7,665 12,790 Total lease cost $ 19,559 $ 25,992 $ 57,767 $ 81,309 _______________ (1) Consists primarily of common area maintenance, taxes and utilities for real estate leases, and certain vehicle-related charges under the Flexdrive program. Sublease income was $1.2 million and $3.7 million for the three and nine months ended September 30, 2023, respectively, and $2.6 million and $10.1 million for the three and nine months ended September 30, 2022, respectively, which were primarily related to subleases from the Company's transaction with Woven Planet Holdings in the third quarter of 2021. Sublease income is included within other income, net on the condensed consolidated statement of operations. The related lease expense for these leases is included within operating expenses on the condensed consolidated statement of operations. The Company committed to a plan of termination which included restructuring charges related to a decision to exit and sublease or cease use of certain facilities to align with the Company’s anticipated operating needs. Refer to Note 13 “Restructuring” to the condensed consolidated financial statements for information regarding this transaction. The table below presents certain supplemental information related to the cash flows for operating and finance leases recorded on the condensed consolidated statements of cash flows (in thousands): Nine Months Ended September 30, 2023 2022 Cash paid for amounts included in the measurement of lease liabilities Operating cash flows from operating leases $ 44,579 $ 58,005 Operating cash flows from finance leases 2,284 689 Financing cash flows from finance leases 35,935 21,706 Undiscounted Cash Flows The table below reconciles the undiscounted cash flows for each of the first five years and total of the remaining years to the lease liabilities recorded on the condensed consolidated balance sheet as of September 30, 2023 (in thousands): Operating Leases Finance Leases Total Leases Remainder of 2023 $ 9,581 $ 14,120 $ 23,701 2024 57,310 23,293 80,603 2025 46,029 19,933 65,962 2026 32,417 11,430 43,847 2027 27,532 8,166 35,698 Thereafter 43,455 8,274 51,729 Total minimum lease payments 216,324 85,216 301,540 Less: amount of lease payments representing interest (32,100) (9,007) (41,107) Present value of future lease payments 184,224 76,209 260,433 Less: current obligations under leases (42,330) (21,866) (64,196) Long-term lease obligations $ 141,894 $ 54,343 $ 196,237 Future lease payments receivable in car rental transactions under the Flexdrive Program are not material since the lease term is less than a month.

Commitment and Contingencies

Commitment and Contingencies	9 Months Ended
	Sep. 30, 2023
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Noncancellable Purchase Commitments In March 2018, the Company entered into a noncancellable arrangement with Amazon Web Services (“AWS”), a web-hosting services provider, under which the Company had an obligation to purchase a minimum amount of services from this vendor through June 2021. The parties modified the aggregate commitment amounts and timing in January 2019, May 2020 and February 2022. Under the most recent amended arrangement, the Company committed to spend an aggregate of at least $350 million between February 2022 and January 2026, with a minimum amount of $80 million in each of the four contractual periods, on services with AWS. As of September 30, 2023, the Company has made payments of $196.8 million under the amended arrangement. In May 2019, the Company entered into a noncancelable arrangement with the City of Chicago, with respect to the Divvy bike share program, under which the Company has an obligation to pay approximately $7.5 million per year to the City of Chicago through January 2028 and to spend a minimum of $50 million on capital equipment for the bike share program through January 2028. The parties modified the commitment amounts and timing in April 2023 to reduce the Company's payment obligation by $12 million and to supply a maximum of $12 million on capital equipment for the bike share program through 2024. As of September 30, 2023, the Company has made payments totaling $30.0 million and capital equipment investments totaling $42.8 million under the arrangement. Letters of Credit The Company maintains certain stand-by letters of credit from third-party financial institutions in the ordinary course of business to guarantee certain performance obligations related to leases, insurance policies and other various contractual arrangements. None of the outstanding letters of credit are collateralized by cash. As of September 30, 2023 and December 31, 2022, the Company had letters of credit outstanding of $60.7 million and $55.1 million, respectively. Indemnification The Company enters into indemnification provisions under agreements with other parties in the ordinary course of business, including certain business partners, investors, contractors, parties to certain acquisition or divestiture transactions and the Company’s officers, directors, and certain employees. The Company has agreed to indemnify and defend the indemnified party’s claims and related losses suffered or incurred by the indemnified party resulting from actual or threatened third-party claims because of the Company’s activities or, in some cases, non-compliance with certain representations and warranties made by the Company. It is not possible to determine the maximum potential loss under these indemnification provisions due to the Company’s limited history of prior indemnification claims and the unique facts and circumstances involved in each particular provision. To date, losses recorded on the condensed consolidated statements of operations in connection with the indemnification provisions have not been material. Legal Proceedings The Company is currently involved in, and may in the future be involved in, legal proceedings, claims, and regulatory and governmental inquiries and investigations in the ordinary course of business, including suits by drivers, riders, renters, third parties and governmental entities (individually or as class actions) alleging, among other things, various wage and expense related claims, violations of state or federal laws, improper disclosure of the Company’s fees, rules or policies, that such fees, rules or policies violate applicable law, or that the Company has not acted in conformity with such fees, rules or policies, as well as proceedings related to product liability, antitrust, its acquisitions, securities issuances or business practices, or public disclosures about the Company or the Company's business. In addition, the Company has been, and is currently, named as a defendant in a number of litigation matters related to allegations of accidents or other trust and safety incidents involving drivers or riders using the Lyft Platform. The outcomes of the Company’s legal proceedings are inherently unpredictable and subject to significant uncertainties. For some matters for which a material loss is reasonably possible, an estimate of the amount of loss or range of losses is not possible nor is the Company able to estimate the loss or range of losses that could potentially result from the application of nonmonetary remedies. Until the final resolution of legal matters, there may be an exposure to a material loss in excess of the amount recorded. Independent Contractor Classification Matters With regard to independent contractor classification of drivers on the Lyft Platform, the Company is regularly subject to claims, lawsuits, arbitration proceedings, administrative actions, government investigations and other legal and regulatory proceedings at the federal, state and municipal levels challenging the classification of these drivers as independent contractors, and claims that, by the alleged misclassification, the Company has violated various labor and other laws that would apply to driver employees. Laws and regulations that govern the status and classification of independent contractors are subject to change and divergent interpretations by various authorities, which can create uncertainty and unpredictability for the Company. For example, Assembly Bill 5 (as codified in part at Cal. Labor Code sec. 2750.3) codified and extended an employment classification test set forth by the California Supreme Court that established a new standard for determining employee or independent contractor status. The passage of this bill led to additional challenges to the independent contractor classification of drivers using the Lyft Platform. For example, on May 5, 2020, the California Attorney General and the City Attorneys of Los Angeles, San Diego and San Francisco filed a lawsuit against the Company and Uber for allegedly misclassifying drivers on the companies’ respective platforms as independent contractors in violation of Assembly Bill 5 and California’s Unfair Competition Law, and on August 5, 2020, the California Labor Commissioner filed lawsuits against the Company and Uber for allegedly misclassifying drivers on the companies’ respective platforms as independent contractors, seeking injunctive relief and material damages and penalties. On August 10, 2020, the court granted a motion for a preliminary injunction, forcing the Company and Uber to reclassify drivers in California as employees until the end of the lawsuit. Subsequently, voters in California approved Proposition 22, a state ballot initiative that provided a framework for drivers utilizing platforms like Lyft to maintain their status as independent contractors under California law. Proposition 22 went into effect on December 16, 2020. On April 20, 2021, the court granted the parties’ joint request to dissolve the preliminary injunction in light of the passage of Proposition 22. On May 5, 2021, the California Labor Commissioner filed a petition to coordinate its lawsuit with the Attorney General lawsuit and three other cases against the Company and Uber. The coordination petition was granted and the coordinated cases have been assigned to a judge in San Francisco Superior Court. On December 19, 2022, the California Attorney General’s and California Labor Commissioner’s cases were stayed in San Francisco Superior Court pending the appeal of a Superior Court order denying Lyft’s and Uber’s motions to compel arbitration. On September 28, 2023, the California Court of Appeal issued a decision upholding the trial court’s order denying Lyft’s and Uber’s motions to compel arbitration. On or about November 7, 2023, Lyft filed a petition requesting that the California Supreme Court review the Court of Appeal’s decision; the petition remains pending. On January 12, 2021, a group of petitioners led by labor union SEIU filed a separate lawsuit in the California Supreme Court against the State of California alleging that Proposition 22 is unconstitutional under the California Constitution. The California Supreme Court denied review on February 3, 2021. SEIU then filed a similar lawsuit in Alameda County Superior Court on February 11, 2021. Protect App-Based Drivers & Services (PADS) -- the coalition that established and operated the official ballot measure committee that successfully advocated for the passage of Proposition 22 -- intervened in the Alameda lawsuit. On August 20, 2021, after a merits hearing, the Alameda Superior Court issued an order finding that Proposition 22 is unenforceable. Both the California Attorney General and PADS filed appeals to the California Court of Appeal. On March 13, 2023, the California Court of Appeal upheld Proposition 22 as constitutional, while severing two provisions that relate to future amendments of Proposition 22. On April 21, 2023, SEIU filed a petition for review to the California Supreme Court. On June 28, 2023, the California Supreme Court granted SEIU’s petition for review, and briefing is underway. Separately, on July 14, 2020, the Massachusetts Attorney General filed a lawsuit against the Company and Uber for allegedly misclassifying drivers as independent contractors under Massachusetts law, and seeking declaratory and injunctive relief. The Company and Uber filed motions to dismiss, which were denied by the court in March 2021. The case is set for trial on May 13, 2024. Certain adverse outcomes of such actions would have a material impact on the Company’s business, financial condition and results of operations, including damages, penalties and potential suspension of operations in impacted jurisdictions, including California or Massachusetts. The Company’s chances of success on the merits are still uncertain and any possible loss or range of loss cannot be reasonably estimated. Such regulatory scrutiny or action may create different or conflicting obligations from one jurisdiction to another. The New York Attorney General has alleged misrepresentations related to certain fees and related driver pay deductions, as well as misclassification of drivers and related labor law violations in New York. The Company has entered into an agreement to resolve this matter, under which New York drivers will receive new benefits and maintain their flexibility as independent contractors. The amount accrued for these matters is recorded within accrued and other current liabilities on the consolidated balance sheets as of September 30, 2023. The Company is currently involved in a number of putative class actions, thousands of individual claims, including those brought in arbitration or compelled pursuant to the Company's Terms of Service to arbitration, matters brought, in whole or in part, as representative actions under California’s Private Attorney General Act, Labor Code Section 2698, et seq., alleging that the Company misclassified drivers as independent contractors and other matters challenging the classification of drivers on the Company’s platform as independent contractors. The Company is currently defending allegations in a number of lawsuits that the Company has failed to properly classify drivers and provide those drivers with sick leave and related benefits during the COVID-19 pandemic. The Company’s chances of success on the merits are still uncertain and any possible loss or range of loss cannot be reasonably estimated. The Company disputes any allegations of wrongdoing and intends to continue to defend itself vigorously in these matters. However, results of litigation, arbitration and regulatory actions are inherently unpredictable and legal proceedings related to these driver claims, individually or in the aggregate, could have a material impact on the Company’s business, financial condition and results of operations. Regardless of the outcome, litigation and arbitration of these matters can have an adverse impact on the Company because of defense and settlement costs individually and in the aggregate, diversion of management resources and other factors. Unemployment Insurance Assessment The Company is involved in administrative audits with various state employment agencies, including audits related to driver classification, in California, Oregon, Wisconsin, Illinois, New York, Pennsylvania and New Jersey. The Company believes that drivers are properly classified as independent contractors and plans to vigorously contest any adverse assessment or determination. The Company’s chances of success on the merits are still uncertain. The Company accrues for liabilities that may result from assessments by, or any negotiated agreements with, these employment agencies when a loss is probable and reasonably estimable, and the expense is recorded to general and administrative expenses. In 2018, the New Jersey Department of Labor & Workforce Development (“NJDOL”) opened an audit reviewing whether drivers were independent contractors or employees for purposes of determining whether unemployment insurance regulations apply from 2014 through March 31, 2018. The NJDOL issued an assessment on June 4, 2019 and subsequently issued an updated assessment on March 31, 2021. The assessment was calculated through April 30, 2019, but only calculated the alleged contributions, penalties, and interests owed from 2014 through 2017. The Company filed a petition to challenge the assessment, and are awaiting a hearing. The Company has also submitted payment for the principal revised amount of the assessment to stop interest from accruing on this amount. While the ultimate resolution of this matter is uncertain, the Company recorded an accrual for this matter reflected within accrued and other current liabilities on the condensed consolidated balance sheet as of September 30, 2023. Indirect Taxes The Company is under audit by various domestic tax authorities with regard to indirect tax matters. The subject matter of indirect tax audits primarily arises from disputes on tax treatment and tax rates applied to the sale of the Company’s services in these jurisdictions. The Company accrues indirect taxes that may result from examinations by, or any negotiated agreements with, these tax authorities when a loss is probable and reasonably estimable and the expense is recorded to general and administrative expenses. Patent Litigation The Company is currently involved in legal proceedings related to alleged infringement of patents and other intellectual property and, in the ordinary course of business, the Company receives correspondence from other purported holders of patents and other intellectual property offering to sell or license such property and/or asserting infringement of such property. The Company disputes any allegation of wrongdoing and intends to defend itself vigorously in these matters. The Company’s chances of success on the merits are still uncertain and any possible loss or range of loss cannot be reasonably estimated. Consumer and Other Class Actions From time to time, the Company becomes involved in putative class actions alleging violations of consumer protection, civil rights, and other laws; antitrust and unfair competition laws such as California’s Cartwright Act, Unfair Practices Act and Unfair Competition Law; and the Americans with Disabilities Act, or the ADA, among others. In 2021, the Company received a favorable outcome in a case in the Northern District of California alleging ADA violations with respect to Lyft’s wheelchair accessible vehicle (“WAV”) offerings in three Bay Area counties, Independent Living Resource Center San Francisco (“ILRC”) v. Lyft, Inc. After hearing evidence at a 5-day bench trial, the court ruled that plaintiffs failed their burden to prove that Lyft violates the ADA. The plaintiffs did not appeal the ruling. Lyft is facing a similar ADA lawsuit seeking injunctive and other relief in the Southern District of New York, Lowell v. Lyft, Inc. On March 24, 2023, the court certified three classes encompassing regions where Lyft does not currently offer WAV service (Westchester County, NY; New York State except New York City; and all other “non-WAV” regions in the U.S.). The court is expected to set a trial date soon. The Company disputes any allegations of wrongdoing and intends to continue to defend itself vigorously in these matters. The Company’s chances of success on the merits are still uncertain and any possible loss or range of loss cannot be reasonably estimated. Personal Injury and Other Safety Matters In the ordinary course of the Company’s business, various parties have from time to time claimed, and may claim in the future, that the Company is liable for damages related to accidents or other incidents involving drivers, riders, renters or third parties using or who have used services offered on the Lyft Platform, as well as from third parties. The Company is currently named as a defendant in a number of matters related to accidents or other incidents involving drivers, riders, renters and third parties. The Company believes it has meritorious defenses, disputes the allegations of wrongdoing and intends to defend itself vigorously in these matters. There is no pending or threatened claim that has arisen from these accidents or incidents that individually, in the Company’s opinion, is likely to have a material impact on its business, financial condition or results of operations; however, results of litigation and claims are inherently unpredictable and legal proceedings related to such accidents or incidents, in the aggregate, could have a material impact on the Company’s business, financial condition and results of operations. For example, on January 17, 2020, the Superior Court of California, County of Los Angeles, granted the petition of multiple plaintiffs to coordinate their claims relating to alleged sexual assault or harassment by drivers on the Lyft Platform, and a Judicial Council Coordinated Proceeding has been created before the Superior Court of California, County of San Francisco, where the claims of multiple plaintiffs are currently pending. Regardless of the outcome of these or other matters, litigation can have an adverse impact on the Company because of defense and settlement costs individually and in the aggregate, diversion of management resources and other factors. Although the Company intends to vigorously defend against these lawsuits, its chances of success on the merits are still uncertain as these matters are at various stages of litigation and present a wide range of potential outcomes. The Company accrues for losses that may result from these matters when a loss is probable and reasonably estimable. Securities Litigation Beginning in April 2019, multiple putative class actions and derivative actions were filed in state and federal courts against the Company, its directors, certain of its officers, and certain of the underwriters named in the registration statement relating to the Company’s initial public offering (“IPO”) alleging violation of securities laws, breach of fiduciary duties, and other causes of action in connection with the IPO. The putative class actions were consolidated into two putative class actions, one in California state court and the other in federal court. The derivative actions were also consolidated into one action in federal court in California. On October 31, 2023, the California state court entered the parties’ stipulation and order dismissing the action in light of the settlement in the federal action. On August 7, 2023, the federal court granted the plaintiffs’ motion for final approval of class action settlement and on September 11, 2023, the court entered final judgment, dismissing the action with prejudice. In the consolidated derivative action, at the parties’ joint request, the California federal court stayed the case on February 17, 2021. Although the Company believes the consolidated derivative action is without merit and intends to vigorously defend against it, its chances of success on the merits are still uncertain and presents a wide range of potential outcomes. The Company accrues for losses that may result from these matters when a loss is probable and reasonably estimable. As previously disclosed, the SEC conducted an investigation regarding disclosure of a pre-IPO stock sale by a former stockholder and related matters. The Company reached a settlement with the SEC on September 18, 2023. Under the terms of the settlement, the Company neither admitted or denied the SEC’s findings and agreed to a cease-and-desist order and paid a $10 million civil penalty in the third quarter of 2023. The settlement resolves the SEC investigation.

Debt

Debt	9 Months Ended
	Sep. 30, 2023
Debt Disclosure [Abstract]
Debt	Debt Outstanding debt obligations as of September 30, 2023 were as follows (in thousands): Maturities Interest Rates as of September 30, 2023 September 30, 2023 December 31, 2022 Convertible senior notes (1) May 2025 1.50% $ 742,733 $ 740,609 Non-revolving Loan 2023 - 2025 2.88% - 2.92% 5,152 24,429 Master Vehicle Loan 2023 - 2026 2.60% - 7.10% 112,373 74,456 Total long-term debt, including current maturities $ 860,258 $ 839,494 Less: long-term debt maturing within one year 26,442 36,287 Total long-term debt $ 833,816 $ 803,207 _______________ (1) The Company adopted ASC 2020-06 on January 1, 2022 using the modified retrospective approach, which resulted in a $133.5 million increase to the carrying value of the convertible senior notes to reflect the full principal amount of the convertible senior notes outstanding net of issuance costs at the time of adoption. The following table sets forth the primary components of interest expense as reported on the condensed consolidated statements of operations (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 Contractual interest expense related to the 2025 Notes $ 2,803 $ 2,803 $ 8,409 $ 8,409 Amortization of debt discount and issuance costs (1) 908 736 2,598 2,083 Interest expense related to vehicle loans 2,498 1,483 6,786 4,039 Interest expense $ 6,209 $ 5,022 $ 17,793 $ 14,531 _______________ (1) Following the adoption of ASC 2020-06 on January 1, 2022 using the modified retrospective approach, the debt discount associated with the equity component on convertible debt outstanding is now classified as debt, which results in a decrease in the amount of interest expense being recorded each period from January 1, 2022 to maturity. Convertible Senior Notes In May 2020, the Company issued $747.5 million aggregate principal amount of 1.50% convertible senior notes due 2025 (the “ 2025 Notes ” ) pursuant to an indenture, dated May 15, 2020 (the “ Indenture ” ), between the Company and U.S. Bank Trust Company, National Association (as successor in interest to U.S. Bank National Association), as trustee. The 2025 Notes mature on May 15, 2025, unless earlier converted, redeemed or repurchased. The 2025 Notes are senior unsecured obligations of the Company with interest payable semiannually in arrears on May 15 and November 15 of each year, beginning on November 15, 2020, at a rate of 1.50% per year. The net proceeds from this offering were approximately $733.2 million, after deducting the initial purchasers’ discounts and commissions and debt issuance costs. The initial conversion rate for the 2025 Notes is 26.0491 shares of the Company's Class A common stock per $1,000 principal amount of 2025 Notes, which is equivalent to an initial conversion price of approximately $38.39 per share of the Class A common stock. The conversion rate is subject to adjustment under certain circumstances in accordance with the terms of the Indenture. The 2025 Notes will be convertible at the option of the holders at any time prior to the close of business on the business day immediately preceding February 15, 2025, only under the following circumstances: • during any fiscal quarter (and only during such fiscal quarter), if the last reported sale price of the Company’s Class A 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 fiscal quarter is greater than or equal to 130% of the conversion price on each applicable trading day; • during the five • if the Company calls such Notes for redemption, at any time prior to the close of business on the second scheduled trading day immediately preceding the redemption date; or • upon the occurrence of specified corporate events. On or after February 15, 2025, the 2025 Notes will be convertible at the option of the holder until the close of business on the second scheduled trading day immediately preceding the maturity date. Upon conversion, the Company may satisfy its conversion obligation by paying and/or delivering, as the case may be, cash, shares of the Company's Class A common stock or a combination of cash and shares of the Company's Class A common stock, at the Company’s election, in the manner and subject to the terms and conditions provided in the Indenture. Holders of the 2025 Notes who convert their 2025 Notes in connection with certain corporate events that constitute a make-whole fundamental change (as defined in the Indenture) are, under certain circumstances, entitled to an increase in the conversion rate. Additionally in the event of a corporate event constituting a fundamental change (as defined in the Indenture), holders of the 2025 Notes may require us to repurchase all or a portion of their 2025 Notes at a repurchase price equal to 100% of the principal amount of the 2025 Notes being repurchased, plus any accrued and unpaid interest to, but excluding, the repurchase date. Prior to the adoption of ASU 2020-06, the Company separated the 2025 Notes into a liability and an equity component. At the date of issuance, the Company determined the fair value of the liability component to be $558.3 million calculated as the present value of future cash flows discounted at the borrowing rate for a similar nonconvertible debt instrument. The equity component representing the conversion option was $189.2 million and was determined by deducting the fair value of the liability component from the par value of the 2025 Notes. The equity component is not remeasured as long as it continues to meet the conditions for equity classification. The difference between the principal amount of the 2025 Notes and the liability component ( “ debt discount ” ) was amortized to interest expense over the contractual term at an effective interest rate of 8.0%. Following the adoption of ASU 2020-06 on January 1, 2022, the Company no longer bifurcates the 2025 Notes, but rather accounts for the conversion feature as a single debt instrument. The difference between the carrying amount and face value of the liability results in a reduced liability component. Therefore, less interest expense is being recorded each period from January 1, 2022 to maturity and the equity component is now classified as debt, eliminating the subsequent amortization of the debt discount as interest expense. Accordingly, the Company recorded a net decrease to additional paid-in capital of approximately $140.0 million, net of tax, to remove the equity component separately recorded for the conversion features associated with the 2025 Notes and equity component associated with the issuance costs, an increase of approximately $133.5 million in the carrying value of the 2025 Notes to reflect the full principal amount, net of issuance costs, and an increase to accumulated deficit of approximately $6.5 million, net of tax in the Company’s condensed consolidated balance sheet with no impact to the Company’s condensed consolidated statements of operations. Debt issuance costs related to the 2025 Notes totaled $14.3 million at inception and were comprised of discounts and commissions payable to the initial purchasers and third-party offering costs and will be amortized to interest expense using the effective interest method over the contractual term. As of September 30, 2023 , the unamortized debt discount and debt issuance cost of the 2025 Notes was $4.8 million on the condensed consolidated balance sheet. During the quarter ended September 30, 2023 , the 2025 Notes did not meet any of the circumstances that would allow for a conversion. Based on the last reported sale price of the Company's Class A common stock on September 30, 2023 , the if-converted value of the 2025 Notes was $205.2 million, which would not exceed the outstanding principal amount. The net carrying amounts of the liability component of the 2025 Notes were as follows (in thousands): September 30, 2023 December 31, 2022 Principal $ 747,498 $ 747,498 Unamortized debt discount and debt issuance costs (1) (4,765) (6,889) Net carrying amount of liability component $ 742,733 $ 740,609 _______________ (1) The Company adopted ASC 2020-06 on January 1, 2022 using the modified retrospective approach, which resulted in a $133.5 million increase to the carrying value of the convertible senior notes to reflect the full principal amount of the convertible senior notes outstanding net of issuance costs at the time of adoption. As of September 30, 2023 , the total estimated fair values (which represents a Level 2 valuation) of the 2025 Notes were approximately $688.2 million. The estimated fair value of the 2025 Notes was determined based on a market approach which was determined based on the actual bids and offers of the 2025 Notes in an over-the-counter market on the last trading day of the period. The 2025 Notes are unsecured and do not contain any financial covenants, restrictions on dividends, incurrence of senior debt or other indebtedness, or restrictions on the issuance or repurchase of securities by the Company. Capped Calls In connection with the issuance of the 2025 Notes, the Company entered into privately negotiated capped call transactions (the “Capped Calls”) with certain of the initial purchasers or their respective affiliates at a cost of approximately $132.7 million. The Capped Calls cover, subject to anti-dilution adjustments, the number of shares of Class A common stock underlying the 2025 Notes sold in the offering. By entering into the Capped Calls, the Company expects to reduce the potential dilution to its Class A common stock (or, in the event a conversion of the 2025 Notes is settled in cash, to reduce its cash payment obligation) in the event that at the time of conversion of the 2025 Notes the trading price of the Company's Class A common stock price exceeds the conversion price of the 2025 Notes. The cap price of the Capped Calls will initially be $73.83 per share, which represents a premium of 150% over the last reported sale price of the Company's Class A common stock of $29.53 per share on The Nasdaq Global Select Market on May 12, 2020, and is subject to certain adjustments under the terms of the Capped Calls. The Capped Calls meet the criteria for classification in equity, are not remeasured each reporting period and included as a reduction to additional paid-in-capital within shareholders’ equity. Non-revolving Loan Following the acquisition of Flexdrive by the Company on February 7, 2020, Flexdrive remained responsible for its obligations under a Loan and Security Agreement dated March 11, 2019, as amended (the “Non-revolving Loan”) with a third-party lender. Pursuant to the term of the Non-revolving Loan, as amended on June 21, 2021 and most recently on September 27, 2022, Flexdrive may request an extension of credit in the form of advances up to a maximum principal amount of $130 million to purchase new Hyundai and Kia vehicles, or for other purposes, subject to approval by the lender. Advances paid or prepaid under the Non-revolving Loan may not be reborrowed. Repayment terms for each advance include equal monthly installments sufficient to fully amortize the advances over the term, with an option for the final installment to be greater than the others. The repayment term for each advance ranges from 24 months to 48 months. Interest is payable monthly in arrears at a fixed interest rate equal to the two-year U.S. Treasury note yield plus a spread of 3.4% for a 24-month term, the three-year U.S. Treasury note yield plus a spread of 3.4% for a 36 months term, and the average of the three and five-year U.S. Treasury note yields plus a spread of 3.4% for a 48 month term. The Non-revolving Loan is secured by all vehicles financed under the Non-revolving Loan. On September 20, 2023, the Non-revolving Loan was amended, extending through September 30, 2024 and reducing the borrowing capacity to $50.0 million. As of September 30, 2023, $5.2 million had been drawn under the Non-revolving Loan and $44.8 million is remaining under the facility. The Non-revolving Loan also contains customary affirmative and negative covenants that, among other things, limit Flexdrive’s ability to enter into certain acquisitions or consolidations or engage in certain asset dispositions. Upon the occurrence of certain events of default, including bankruptcy and insolvency events with respect to Flexdrive or the Company, all amounts due under the Non-revolving Loan may become immediately due and payable, among other remedies. As of September 30, 2023, the Company was in compliance with all covenants related to the Non-revolving Loan in all material aspects. Further, the Company continued to guarantee the payments of Flexdrive for any amounts borrowed following the acquisition. Master Vehicle Loan Following the acquisition of Flexdrive by the Company on February 7, 2020, Flexdrive remained responsible for its obligations under a Master Vehicle Acquisition Financing and Security Agreement, dated February 7, 2020 as amended (the “Master Vehicle Loan”) with a third-party lender. Pursuant to the term of the Master Vehicle Loan, Flexdrive may request loans up to a maximum principal amount of $50 million to purchase vehicles. Repayment terms for each loan include equal monthly installments sufficient to amortize the loan over the term, with an option for the final installment to be greater than the others and is typically equal to the residual value guarantee the Company provides to the lender. The repayment term for each loan ranges from 12 months to 48 months. Interest is payable monthly in advance at a fixed interest rate equal to the three-year swap rate plus a spread of 2.10% on the date of the loan. Principal amounts outstanding related to the Master Vehicle Loan may be fully or partially prepaid at the option of Flexdrive and must be prepaid under certain circumstances. However, if a loan is terminated for any reason prior to the last day of the minimum loan term Flexdrive will be obligated to pay to the lender, an early termination fee in an amount which is equal to the interest which would otherwise be payable by Flexdrive to lender for the remainder of the minimum loan term for that loan. The Master Vehicle Loan is secured by all vehicles financed under the Master Vehicle Loan as well as certain amounts held in escrow for the benefit of the lender. Amounts held in escrow are recorded as restricted cash on the condensed consolidated balance sheets. The Master Vehicle Loan contains customary affirmative and negative covenants that, among other things, limit Flexdrive’s ability to enter into certain acquisitions or consolidations or engage in certain asset dispositions. Upon the occurrence of certain events of default, including bankruptcy and insolvency events with respect to Flexdrive or the Company, all amounts due under the Master Vehicle Loan may become immediately due and payable, among other remedies. As of September 30, 2023, Flexdrive was in compliance with all covenants related to the Master Vehicle Loan in all material respects. Further, the Company continued to guarantee the payments of Flexdrive for any amounts borrowed following the acquisition. The fair values of the Non-revolving Loan and Master Vehicle Loan were $5.2 million and $113.3 million, respectively, as of September 30, 2023 and were determined based on quoted prices in markets that are not active, which are considered a Level 2 valuation input. As of September 30, 2023, the Company made repayments of $60.5 million on these loans. Maturities of long-term debt outstanding, including current maturities, as of September 30, 2023 were as follows (in thousands): Remainder of 2023 $ 8,338 2024 23,536 2025 780,936 2026 47,448 2027 — Thereafter — Total long-term debt outstanding $ 860,258 Vehicle Procurement Agreement Following the acquisition of Flexdrive by the Company on February 7, 2020, Flexdrive remained responsible for its obligations under a Vehicle Procurement Agreement (“VPA”), as amended, with a third-party (the “Procurement Provider”). Procurement services under the VPA include purchasing and upfitting certain motor vehicles as specified by Flexdrive, interim financing, providing certain fleet management services, including without limitation vehicle titling, registration and tracking services on behalf of Flexdrive. Pursuant to the terms of the VPA, Flexdrive will make the applicable payments to the Procurement Provider for the procurement services either directly or through an advance made by the Master Vehicle Loan or the Non-revolving Loan. Interest on interim financing under the VPA is based on the prime rate. The Procurement Provider has a security interest in vehicles purchased until the full specified payment has been indefeasibly paid. The VPA contains customary affirmative and negative covenants restricting certain activities by Flexdrive. As of September 30, 2023, the Company was in compliance with all covenants of the VPA. As of September 30, 2023, the outstanding borrowings from the interim financing under the VPA was $30.7 million. On March 11, 2019, the Procurement Provider entered into a $95.0 million revolving credit facility with a third-party lender to finance the acquisition of motor vehicles on behalf of Flexdrive under the VPA. On September 17, 2020, the revolving credit facility was amended, extending the stated maturity date to December 31, 2021 and reducing the borrowing capacity to $50.0 million. On March 11, 2019, Flexdrive entered into a Limited Non-Recourse Secured Continuing Guaranty and Subordination Agreement with the third-party lender to guarantee the Procurement Provider’s performance for any amount borrowed under the revolving credit facility. As of September 30, 2023, there was a $15.8 million exposure to loss under the terms of the guarantee. Revolving Credit Facility & Other Financings On November 3, 2022, Lyft, Inc. entered into a revolving credit agreement (the “Revolving Credit Agreement”) by and among the Company, as the borrower, JPMorgan Chase Bank, N.A., as administrative agent, and certain lenders party thereto from time to time. The Revolving Credit Agreement provides the Company with a senior secured revolving credit facility (the “Revolving Credit Facility”) in an aggregate principal amount of $420.0 million that matures on the earlier of (i) November 3, 2027 and (ii) February 13, 2025, if, as of such date, the Company’s Liquidity (as defined in the Revolving Credit Agreement) minus the aggregate principal amount of the Company’s 2025 Convertible Notes (as defined in the Revolving Credit Agreement) outstanding on such date is less than $1.25 billion. Subject to certain conditions precedent, the Revolving Credit Agreement also grants the Company the option to increase the commitment under the Revolving Credit Facility by or obtain incremental term loans in an aggregate principal amount of up to $300.0 million, plus, after September 30, 2023, an unlimited amount so long as the senior secured leverage ratio does not exceed 2.50:1.00. The Revolving Credit Facility provides for borrowings up to the amount of the facility, with a sublimit of $168 million for the issuance of letters of credit. At closing, $53.5 million in letters of credit were issued under the Revolving Credit Facility and no amount had been drawn under the Revolving Credit Facility. Under the Revolving Credit Agreement, loans bear interest, at the Company’s option, at an annual rate equal to either (i) the sum of (x) the Adjusted Term SOFR Rate (as defined in the Revolving Credit Agreement) plus (y) a variable rate based on the Company’s total leverage ratio, ranging from 1.50% to 2.25% or (ii) the sum of (x) the highest of (A) the rate of interest last quoted by The Wall Street Journal as the prime rate in effect in the United States, (B) the greater of the rate calculated by the Federal Reserve Bank of New York as the federal funds effective rate or the rate that is published by the Federal Reserve Bank of New York as the overnight bank funding rate, in either case, plus 0.50%, and (C) the one-month Adjusted Term SOFR Rate plus 1.00% and (y) a variable rate based on the Company’s total leverage ratio, ranging from 0.05% to 1.25%. The Company is required to pay a commitment fee between 0.225% and 0.375%, depending on the Company’s total leverage ratio, per annum on the undrawn portion available under the Revolving Credit Facility. The Revolving Credit Agreement contains customary affirmative and negative covenants and restrictions typical for a financing of this type that, among other things, restrict the Company and its restricted subsidiaries’ ability to incur additional indebtedness, create liens, merge or consolidate or make certain dispositions, pay dividends and make distributions or other restricted payments, engage in transactions with affiliates, and make certain investments and acquisitions. The Revolving Credit Agreement also contains financial covenants that require the Company to maintain (a) a minimum liquidity amount of at least $1.5 billion, tested on a quarterly basis, commencing with the quarter ending December 31, 2022 through the quarter ending September 30, 2023, (b) a total leverage ratio not to exceed 3.50:1:00 commencing with the quarter ending December 31, 2023 through the quarter ending September 30, 2024 and thereafter a ratio not to exceed 3.00:1:00 (with an increase to 3.50:1:00 if the Company has an acquisition for cash consideration greater than $75 million for the fiscal quarter during which such acquisition takes place and the three fiscal quarters immediately following such acquisition), and (c) a fixed charge coverage ratio of at least 1.25:1.00, commencing with the quarter ending December 31, 2023. The Revolving Credit Agreement contains customary events of default relating to, among other things, payment defaults, breach of representation or warranty or covenants, cross default to material indebtedness, bankruptcy-related defaults, judgment defaults, and the occurrence of certain change of control events. Non-compliance with one or more of the covenants and restrictions or the occurrence of an event of default could result in the full or partial principal balance of the Revolving Credit Agreement becoming immediately due and payable and termination of the commitments. The Company’s obligations under the Revolving Credit Facility are guaranteed by certain of the Company’s present and future material domestic subsidiaries. The Company’s obligations under, and each guarantor’s obligations under its guaranty of, the Revolving Credit Facility are secured by a first priority interest on substantially all of the Company’s or such guarantor’s respective assets. As of September 30, 2023, the Company was in compliance with all covenants related to the Revolving Credit Facility in all material aspects and no amounts had been drawn under the Revolving Credit Facility.

Common Stock

Common Stock	9 Months Ended
	Sep. 30, 2023
Share-Based Payment Arrangement [Abstract]
Common Stock	Common Stock Restricted Stock Units The summary of restricted stock unit ("RSU") activity is as follows (in thousands, except per share data): Number of Weighted- Aggregate Nonvested units as of December 31, 2022 22,315 $ 28.15 $ 244,926 Granted 42,879 8.91 Vested (22,092) 20.75 Canceled (7,282) 26.56 Nonvested units as of September 30, 2023 35,820 $ 9.84 $ 376,578 Included in the grants for the nine months ended September 30, 2023 are 14,196,732 performance based restricted stock units (“PSUs”). These PSUs are divided into individual performance milestones and vesting tranches tied to the Company’s stock performance. On the grant date, the Company valued these PSUs using a Monte Carlo valuation model to determine for each milestone (i) the fair value to expense for such tranche and (ii) the requisite service period when the milestone for such tranche is expected to be achieved. The Monte Carlo valuation model considers several variables and assumptions in estimating the fair value of stock-based awards including the Company's stock price on grant date, expected term, expected volatility, and risk-free interest rate. The resulting fair value is amortized beginning on the grant date over the requisite service periods of each individual tranche. All PSUs are subject to a continuous service condition in addition to certain performance criteria. The fair value as of the respective vesting dates of RSUs that vested during the nine months ended September 30, 2023 and 2022 was $224.9 million and $354.2 million, respectively. In connection with RSUs that vested in the nine months ended September 30, 2023, the Company withheld 219,166 shares and remitted cash payments of $2.2 million on behalf of the RSU holders to the relevant tax authorities. As of September 30, 2023, the total unrecognized compensation cost was $296.5 million. The Company expects to recognize this expense over the remaining weighted-average period of 1.3 years. The Company recognizes compensation expense on the RSUs granted prior to the effectiveness of its IPO Registration Statement on March 28, 2019 using the accelerated attribution method. Generally, RSUs granted after March 28, 2019 vest on the satisfaction of a service-based condition only. The Company recognizes compensation expense for such RSUs upon a straight-line basis over their requisite service periods. 2019 Employee Stock Purchase Plan In March 2019, the Company’s board of directors adopted, and the Company’s stockholders approved, the 2019 Employee Stock Purchase Plan (the “ESPP”). The initial ESPP went into effect on March 27, 2019 and was amended on July 26, 2021. Subject to any limitations contained therein, the ESPP allows eligible employees to contribute, through payroll deductions, up to 15% of their eligible compensation to purchase the Company’s Class A common stock at a discounted price per share. The ESPP provides for consecutive, overlapping 12-month offering periods, subject to certain reset provisions as defined in the plan. A total of 6,000,000 shares of Class A common stock were initially reserved for issuance under the ESPP. As of December 31, 2022, 9,712,710 additional shares of Class A common stock were reserved for issuance under the ESPP. On January 1, 2023, an additional 3,701,549 shares of Class A common stock were reserved for issuance under the ESPP. As of September 30, 2023, 4,570,725 shares of Class A common stock have been purchased under the 2019 ESPP. The number of shares reserved under the 2019 ESPP automatically increases on the first day of each calendar year beginning on January 1, 2020 in a number of shares equal to the least of (i) 7,000,000 shares of Class A common stock, (ii) one percent of the outstanding shares of all classes of the Company’s common stock on the last day of the immediately preceding fiscal year, or (iii) an amount determined by the administrator of the 2019 ESPP.

Income Tax

Income Tax	9 Months Ended
	Sep. 30, 2023
Income Tax Disclosure [Abstract]
Income Tax	Income Tax The Company's tax provision and the resulting effective tax rate for interim periods is determined based upon its estimated annual effective tax rate adjusted for the effect of discrete items arising in that quarter. The Company's provision for income taxes has not been historically significant to the business as the Company has incurred operating losses to date. The provision for income taxes consists of federal and state taxes in the U.S. and foreign taxes in jurisdictions in which the Company conducts business. The Company recorded income tax expense of $0.1 million and $5.5 million in the three and nine months ended September 30, 2023, respectively, and $0.6 million and $3.5 million in the three and nine months ended September 30, 2022, respectively. The effective tax rate was (0.92)% and (1.77)% for the three and nine months ended September 30, 2023, respectively, and (0.15)% and (0.35)% for the three and nine months ended September 30, 2022, respectively. The effective tax rate differs from the U.S. statutory tax rate primarily due to the valuation allowances on the Company's deferred tax assets as it is more likely than not that some or all of the Company's deferred tax assets will not be realized. The Company’s policy is to recognize interest and penalties associated with uncertain tax benefits as part of the income tax provision and include accrued interest and penalties with the related income tax liability on the Company’s condensed consolidated balance sheets. To date, the Company has not recognized any interest and penalties in its condensed consolidated statements of operations, nor has it accrued for or made payments for interest and penalties. The Company has no unrecognized tax benefits as of September 30, 2023 and December 31, 2022.

Net Loss Per Share

Net Loss Per Share	9 Months Ended
	Sep. 30, 2023
Earnings Per Share [Abstract]
Net Loss Per Share	Net Loss Per ShareBasic net loss per share is computed by dividing the net loss by the weighted-average number of shares of common stock outstanding during the period, less shares subject to repurchase. The diluted net loss per share is computed by giving effect to all potentially dilutive common stock equivalents outstanding for the period. For purposes of this calculation, stock options, RSUs, PSUs, the 2025 Notes, and stock purchase rights granted under the Company’s ESPP are considered to be common stock equivalents but are excluded from the calculation of diluted net loss per share when including them has an anti-dilutive effect. Basic and diluted net loss per share are the same for each class of common stock because they are entitled to the same liquidation and dividend rights. The following table sets forth the computation of basic and diluted net loss per share for the periods indicated (in thousands, except per share data): Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 Net loss $ (12,100) $ (422,201) $ (314,011) $ (996,379) Weighted-average shares used in computing net loss per share, basic and diluted 389,307 356,478 381,697 351,224 Net loss per share, basic and diluted $ (0.03) $ (1.18) $ (0.82) $ (2.84) The following potentially dilutive outstanding shares were excluded from the computation of diluted net loss per share for the periods presented because including them would have had an anti-dilutive effect, 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): September 30, 2023 2022 Restricted stock units 21,520 28,014 2025 Notes (1) 19,471 19,471 Performance based restricted stock units 14,300 1,773 Stock options 790 994 ESPP 385 870 Total 56,466 51,122 _______________ (1) In connection with the issuance of the 2025 Notes, the Company entered into Capped Calls, which were not included for purposes of calculating the number of diluted shares outstanding, as their effect would have been anti-dilutive. The Capped Calls are expected to reduce the potential dilution to the Company's Class A common stock (or, in the event a conversion of the 2025 Notes is settled in cash, to reduce its cash payment obligation) in the event that at the time of conversion of the 2025 Notes the Company's Class A common stock price exceeds the conversion price of the 2025 Notes.

Related Party Transactions

Related Party Transactions	9 Months Ended
	Sep. 30, 2023
Related Party Transactions [Abstract]
Related Party Transactions	Related Party TransactionsThe Company's transactions with related parties were immaterial for the three and nine months ended September 30, 2023 and 2022.

Restructuring

Restructuring	9 Months Ended
	Sep. 30, 2023
Restructuring and Related Activities [Abstract]
Restructuring	Restructuring April 2023 Restructuring Plan In April 2023, the Company announced a restructuring plan as part of its efforts to reduce operating costs. The plan involved the termination of approximately 1,072 employees, representing 26% of the Company's employees. As a result of the restructuring plan, in the second quarter of 2023, the Company recorded $47.2 million in employee severance and other employee costs and $9.7 million in net stock-based compensation expense related to equity compensation for employees impacted by the plan of termination. The Company also recorded $6.3 million in impairment charges, fixed asset write-offs, accelerated depreciation and other costs to real estate operating lease right-of-use assets, which was primarily related to the cease use of certain facilities. As a result of the above, the Company incurred net restructuring charges of $63.3 million in the quarter ended June 30, 2023. The restructuring plan has been completed and no future costs related to this plan are expected. The following table summarizes the above restructuring related charges by line item within the Company’s condensed consolidated statements of operations where they were recorded in the quarter ended June 30, 2023 (in thousands): Stock-Based Compensation Severance and Other Employee Costs Right-of-Use Asset Impairments and Other Costs Accelerated Depreciation Total Cost of revenue $ 667 $ 3,204 $ — $ — $ 3,871 Operation and support 259 3,054 5,268 669 9,250 Research and development 4,539 21,254 — — 25,793 Sales and marketing 1,045 5,191 — — 6,236 General and administrative 3,213 14,535 400 — 18,148 Total $ 9,723 $ 47,238 $ 5,668 $ 669 $ 63,298 November 2022 Restructuring Plan In November 2022, the Company announced a restructuring plan to reduce operating expenses. As a result of the restructuring plan, in the fourth quarter of 2022, the Company recorded $29.5 million in employee severance and other employee costs and $9.5 million in net stock-based compensation expense related to equity compensation for employees impacted by the plan of termination. The Company’s plan of termination also included restructuring charges related to a decision to exit and sublease or cease use of certain facilities to align with the Company’s anticipated operating needs. The Company reassessed its real estate asset groups and estimated the fair value of the space to be subleased using current market conditions. Where the carrying value of the individual asset groups exceeded their fair value, an impairment charge was recognized for the difference. During the year ended December 31, 2022, this included $55.3 million in impairment charges related to real estate operating lease right-of-use assets, $23.9 million in accelerated depreciation of certain fixed assets and $2.1 million in write-off of fixed assets not yet placed into service. As a result of the above, the Company incurred net restructuring charges of $120.3 million in the year ended December 31, 2022. In the first quarter of 2023, the Company finalized the exit of certain leases as part of the plan of termination and the Company completed a transaction for the divestiture of certain assets related to the Company’s first party vehicle services business. As a result, the Company recorded $10.5 million in impairment charges related to the cease use of certain facilities to real estate operating lease right-of-use assets and other costs, which included $9.1 million of future payments associated with exiting certain facilities. The Company also incurred employee related charges, which include employee severance, benefits and stock-based compensation in the first quarter of 2023. As a result of the above, the Company incurred net restructuring charges of $24.4 million in the quarter ended March 31, 2023. The following table summarizes the above restructuring related charges by line item within the Company’s condensed consolidated statements of operations where they were recorded in the quarter ended March 31, 2023 (in thousands): Stock-Based Compensation Severance and Other Employee Costs Right-of-Use Asset Impairments and Other Costs Accelerated Depreciation Total Cost of revenue $ — $ 1,101 $ — $ — $ 1,101 Operation and support 205 3,127 9,453 305 13,090 Research and development — 20 2,534 — 2,554 Sales and marketing — 14 — — 14 General and administrative — 64 7,604 16 7,684 Total $ 205 $ 4,326 $ 19,591 $ 321 $ 24,443 The following table summarizes the above restructuring related charges (benefits) by line item within the Company’s consolidated statements of operations where they were recorded in the year ended December 31, 2022 (in thousands): Stock-Based Compensation Severance and Other Employee Costs Right-of-Use Asset Impairments and Other Costs Accelerated Depreciation Total Cost of revenue $ 182 $ 1,612 $ — $ — $ 1,794 Operation and support (31) 5,173 4,851 8,680 18,673 Research and development 3,818 9,706 15,393 36 28,953 Sales and marketing 458 3,123 — — 3,581 General and administrative 5,082 9,861 37,120 15,192 67,255 Total $ 9,509 $ 29,475 $ 57,364 $ 23,908 $ 120,256 As of September 30, 2023, there were $1.1 million in restructuring-related liabilities. As of December 31, 2022, there were $1.6 million in restructuring-related liabilities.

Variable Interest Entities

Variable Interest Entities	9 Months Ended
	Sep. 30, 2023
Noncontrolling Interest [Abstract]
Variable Interest Entities	Variable Interest Entities VIEs Related to the Acquisition of PBSC As part of its acquisition of PBSC, the Company acquired several joint ventures (“JVs”) which were deemed to be VIEs in accordance with ASC 810 on the acquisition date. The Company determined that PBSC is the primary beneficiary of one of the acquired VIEs, in which it owns an 80% equity interest, as PBSC has the power to direct the majority of the activities of the VIE that most significantly impact its economic performance, the obligation to absorb losses and the right to receive benefits. As PBSC is the primary beneficiary of the VIE, the assets, liabilities, non-controlling interest, revenues and operating results are included in the condensed consolidated financial statements. During the quarter ended September 30, 2022, PBSC entered into another joint venture deemed to be a VIE which was accounted for under the equity method. The acquisition date fair value of all the VIEs acquired as part of the PBSC acquisition was $22.2 million, which exceeds the carrying value and is recorded within other investments in the condensed consolidated balance sheet. The VIE entered into during the quarter ended September 30, 2022 was immaterial. The maximum potential financial statement loss the Company would incur if these VIEs were to default on all their obligations would be the loss of the carrying value of these investments as well as any current or future investments, if any, PBSC were to make which was immaterial as of September 30, 2023. Other than the VIE of which PBSC owns an 80% equity interest, the Company has determined that PBSC does not direct the activities that would significantly affect the economic performance of these VIEs. Therefore, the Company is not the primary beneficiary of these VIEs. As a result, the Company accounts for its investment in these VIEs under the equity method, and they are not consolidated into the Company’s condensed consolidated financial statements. In addition, the Company recognizes its proportionate share of the reported profits or losses of these VIEs in other income (expense), net in the condensed consolidated statements of operations, and as an adjustment to its investment in VIEs in the condensed consolidated balance sheets. The profits and losses of these unconsolidated VIEs were not material to the condensed consolidated statements of operations for the period ended September 30, 2023. Other VIEs During the quarter ended June 30, 2023, the Company contributed a business to a privately held company in exchange for an equity interest and a seat on the board of directors of such company. This privately held company was determined to be a VIE for which the Company lacks the power to direct the activities that most significantly impact the entity's economic performance. As the Company is not the primary beneficiary, it does not consolidate the VIE. However, due to the Company's ability to exercise significant influence, the investment will be accounted for under the equity method. The investment was recorded at its initial fair value of $12.9 million and represents the Company's maximum exposure to the VIE.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended						9 Months Ended
	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Sep. 30, 2023	Sep. 30, 2022
Pay vs Performance Disclosure
Net loss	$ (12,100)	$ (114,262)	$ (187,649)	$ (422,201)	$ (377,246)	$ (196,932)	$ (314,011)	$ (996,379)

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended	9 Months Ended
	Sep. 30, 2023 shares	Sep. 30, 2023 shares
Trading Arrangements, by Individual
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false
Lisa Blackwood-Kapral [Member]
Trading Arrangements, by Individual
Material Terms of Trading Arrangement		On August 31, 2023, Lisa Blackwood-Kapral, our Chief Accounting Officer, adopted a Rule 10b5-1 trading arrangement providing for the sale from time to time of an aggregate of up to 124,143 shares of Class A common stock. The trading arrangement is intended to satisfy the affirmative defense in Rule 10b5-1(c). The duration of the trading arrangement is until November 15, 2024, or earlier if all transactions under the trading arrangement are completed.
Name	Lisa Blackwood-Kapral
Title	Chief Accounting Officer
Rule 10b5-1 Arrangement Adopted	true
Adoption Date	August 31, 2023
Arrangement Duration	442 days
Aggregate Available	124,143	124,143
Erin Brewer [Member]
Trading Arrangements, by Individual
Material Terms of Trading Arrangement		On August 31, 2023, Erin Brewer, our Chief Financial Officer, adopted a Rule 10b5-1 trading arrangement providing for the sale from time to time of an aggregate of up to 354,683 shares of Class A common stock plus additional shares of Class A common stock issuable upon the vesting and settlement of RSUs granted to Ms. Brewer subsequent to the adoption of the trading arrangement and prior to August 20, 2024. The trading arrangement is intended to satisfy the affirmative defense in Rule 10b5-1(c). The duration of the trading arrangement is until September 3, 2024, or earlier if all transactions under the trading arrangement are completed.
Name	Erin Brewer
Title	Chief Financial Officer
Rule 10b5-1 Arrangement Adopted	true
Adoption Date	August 31, 2023
Arrangement Duration	369 days
Aggregate Available	354,683	354,683
Kristin Sverchek [Member]
Trading Arrangements, by Individual
Material Terms of Trading Arrangement		On August 31, 2023, Kristin Sverchek, our President, and the Thomas and Kristin Sverchek Revocable Trust (the “Trust”) adopted a Rule 10b5-1 trading arrangement providing for the sale from time to time of an aggregate of up to (i) 33,710 shares of Class A common stock held by Ms. Sverchek and (ii) 108,828 shares of Class A common stock held by the Trust. The trading arrangement is intended to satisfy the affirmative defense in Rule 10b5-1(c). The duration of the trading arrangement is until September 3, 2024, or earlier if all transactions under the trading arrangement are completed.
Name	Kristin Sverchek
Title	President
Rule 10b5-1 Arrangement Adopted	true
Adoption Date	August 31, 2023
Arrangement Duration	369 days
Aggregate Available	33,710	33,710
Thomas and Kristin Sverchek Revocable Trust [Member]
Trading Arrangements, by Individual
Title	Thomas and Kristin Sverchek Revocable Trust
Aggregate Available	108,828	108,828

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2023
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States (“GAAP”) and the U.S. Securities and Exchange Commission (“SEC”) rules and regulations for interim reporting and include the accounts of the Company and its wholly-owned subsidiaries. All intercompany balances and transactions have been eliminated. 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, 2022, included in our Annual Report on Form 10-K. The Company uses the U.S. dollar predominantly as the functional currency of its foreign subsidiaries. For foreign subsidiaries where the U.S. dollar is the functional currency, gains and losses from remeasurement of foreign currency balances into U.S. dollars are included on the condensed consolidated statements of operations. For the foreign subsidiary where the local currency is the functional currency, translation adjustments of foreign currency financial statements into U.S. dollars are recorded to a separate component of accumulated other comprehensive loss. The consolidated balance sheet as of December 31, 2022 included herein was derived from the audited financial statements as of that date. The accompanying unaudited condensed consolidated financial statements have been prepared on the same basis as the annual audited consolidated financial statements and, in the opinion of management, reflect all adjustments, which include only normal recurring adjustments, necessary to state fairly the Company’s financial position, results of operations, comprehensive loss, stockholders’ equity, and cash flows for the periods presented, but are not necessarily indicative of the results of operations to be anticipated for any future annual or interim period.
Reclassification	Reclassification Certain insignificant amounts in the non-cash investing and financing activities supplemental information on the condensed consolidated statements of cash flow for the nine months ended September 30, 2022 have been conformed to the current year presentation. This reclassification did not impact any other amounts on the condensed consolidated statements of cash flows, including the cash flows from operating, investing, and financing activities. The remaining condensed consolidated financial statements were not impacted by this reclassification.
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements and reported amounts of revenues and expenses during the reporting periods. The Company bases its estimates on various factors and information which may include, but are not limited to, history and prior experience, expected future results, new related events and economic conditions, which form the basis for making judgments about the carrying value of assets and liabilities that are not readily apparent from other sources. Actual results could differ materially from those estimates. Significant items subject to estimates and assumptions include those related to losses resulting from insurance claims inclusive of insurance related accruals, fair value of financial assets and liabilities, goodwill and identifiable intangible assets, leases, indirect tax obligations, legal contingencies, valuation allowance for deferred income taxes, and the valuation of stock-based compensation.
Revenue Recognition and Incentive Programs	Revenue RecognitionThe Company generates its revenue from its multimodal transportation networks that offer access to a variety of transportation options through the Lyft Platform and mobile-based applications. Substantially all, or approximately 85% or more, of the Company’s revenue is generated from its ridesharing marketplace that connects drivers and riders and is recognized in accordance with Accounting Standards Codification Topic 606 (“ASC 606”). In addition, the Company generates revenue in accordance with ASC 606 from licensing and data access, subscription fees and revenue from bikes and bike station hardware and software sales, which are not material components of the Company's condensed consolidated revenues. The Company also generates rental revenue from Flexdrive and its network of Light Vehicles which is recognized in accordance with Accounting Standards Codification Topic 842 (“ASC 842”). Revenue from Contracts with Customers (ASC 606) The Company recognizes revenue for its rideshare marketplace in accordance with ASC 606. The Company generates revenue from service fees and commissions (collectively, “fees”) paid by drivers for use of the Lyft Platform and related activities to connect drivers with riders to facilitate and successfully complete rides via the Lyft App where the Company operates as a TNC. The Company recognizes revenue upon completion of each ride. Drivers enter into terms of service (“ToS”) with the Company in order to use the Lyft Driver App. Under the ToS, drivers agree that the Company retains the applicable fee as consideration for their use of the Lyft Platform and related activities from the fare and related charges it collects from riders on behalf of drivers. The Company is acting as an agent in facilitating the ability of a driver to provide a transportation service to a rider. The Company reports revenue on a net basis, reflecting the fee owed to the Company from a driver as revenue, and not the gross amount collected from the rider. As the Company’s customary business practice, a contract exists between the driver and the Company when the driver’s ability to cancel the ride lapses, which typically is upon pickup of the rider. The Company’s single performance obligation in the transaction is to connect drivers with riders to facilitate the completion of a successful transportation service for riders. The Company recognizes revenue upon completion of a ride as its performance obligation is satisfied upon the completion of the ride. The Company collects the fare and related charges from riders on behalf of drivers using the rider’s pre-authorized credit card or other payment mechanism and retains its fees before making the remaining disbursement to drivers; thus, the driver’s ability and intent to pay is not subject to significant judgment. The Company recognizes revenue from subscription fees paid to access transportation options through the Lyft Platform and mobile-based applications over the applicable subscription period in accordance with ASC 606. The Company also recognizes revenue from bikes, bike station hardware and software sales in accordance with ASC 606. The Company generates revenue from licensing and data access agreements. The Company is primarily responsible for fulfilling its promise to provide rideshare data and access to Flexdrive vehicles and bears the fulfillment risk, and the responsibility of providing the data, over the license period. The Company is acting as a principal in delivering the data and access licenses and presents revenue on a gross basis. Consideration allocated to each performance obligation, the data delivery and vehicle access, is determined by assigning the relative fair value to each of the performance obligations. Revenue is recorded upon delivery of the rideshare data and ratably over the quarter for access to fleet vehicles as the Company’s respective performance obligation is satisfied upon the delivery of each. These revenues are not material to the Company's consolidated revenue. Rental Revenue (ASC 842) The Company generates rental revenues primarily from Flexdrive and its network of Light Vehicles. Rental revenues are recognized for rental and rental related activities where an identified asset is transferred to the customer and the customer has the ability to control that asset in accordance with ASC 842. The Company operates a fleet of rental vehicles through its independently managed subsidiary, Flexdrive, comprised of both owned vehicles and vehicles leased from third-party leasing companies. The Company either leases or subleases vehicles to drivers, and as a result, the Company considers itself to be the accounting lessor or sublessor, as applicable, in these arrangements in accordance with ASC 842. Fleet operating costs include monthly fixed lease payments and other vehicle operating or ownership costs, as applicable. For vehicles that are subleased, sublease income and head lease expense for these transactions are recognized on a gross basis on the condensed consolidated financial statements. Drivers who rent vehicles are charged rental fees, which the Company collects from the driver by deducting such amounts from the driver’s earnings on the Lyft Platform. The Company owns and operates its Light Vehicles in some cities and operates city-owned Light Vehicles in other cities. Though the specific terms of arrangements with cities vary, the Company earns operations fees from cities or shares revenue generated by the systems with cities. Light Vehicle revenue is accounted for under ASC 842 for single-use rides. A single-use ride allows the user to select a specific Light Vehicle at the time the arrangement is entered into and provides the user the right to control the selected Light Vehicle for the desired term of the arrangement. Incentive Programs The Company offers incentives to attract drivers, riders and Light Vehicle riders to use the Lyft Platform. Drivers generally receive cash incentives while riders and Light Vehicle riders generally receive free or discounted rides under such incentive programs. Incentives provided to drivers and Light Vehicle riders, the customers of the Company, are accounted for as a reduction of the transaction price. As the riders are not the Company’s customers, incentives provided to riders are generally recognized as sales and marketing expense except for certain pricing programs described below. Driver Incentives The Company offers various incentive programs to drivers, including minimum guaranteed payments, volume-based discounts and performance-based bonus payments. These driver incentives are similar to retrospective volume-based rebates and represent variable consideration that is typically settled within a week. The Company reduces the transaction price by the estimated amount of the incentives expected to be paid upon completion of the performance criteria by applying the most likely outcome method. Therefore, such driver incentives are recorded as a reduction to revenue. Driver incentives are recorded as a reduction to revenue if the Company does not receive a distinct good or service in exchange for the payment or cannot reasonably estimate the fair value of the good or service received. Driver incentives for referring new drivers or riders are accounted for as sales and marketing expense. The amount recorded as an expense is the lesser of the amount of the payment or the established fair value of the benefit received. The fair value of the benefit is established using amounts paid to third parties for similar services. Rideshare Rider Incentives The Company has several rideshare rider incentive programs, which are offered to encourage rider activity on the Lyft Platform. Generally, the rider incentive programs are as follows: (i) Market-wide marketing promotions. Market-wide promotions reduce the fare charged by drivers to riders for all or substantially all rides in a specific market. This type of incentive effectively reduces the overall pricing of the service provided by drivers for that specific market and the gross fare charged by the driver to the rider, and thereby results in a lower fee earned by the Company. Accordingly, the Company records this type of incentive as a reduction to revenue at the date it records the corresponding revenue transaction. (ii) Targeted marketing promotions. Targeted marketing promotions are used to promote the use of the Lyft Platform to a targeted group of riders. An example is a promotion where the Company offers a number of discounted rides (capped at a given number of rides) which are valid only during a limited period of time to a targeted group of riders. The Company believes that the incentives that provide consideration to riders to be applied to a limited number of rides are similar to marketing coupons. These incentives differ from the market-wide marketing promotions because they do not reduce the overall pricing of the service provided by drivers for a specific market. During the promotion period, riders not utilizing an incentive would be charged the full fare. These incentives represent marketing costs. When a rider redeems the incentive, the Company recognizes revenue equal to the transaction price and the cost of the incentive is recorded as sales and marketing expense. (iii) Rider referral programs. Under the rider referral program, the referring rider (the referrer) earns referral coupons when a new rider (the referee) completes their first ride on the Lyft Platform. The Company records the incentive as a liability at the time the incentive is earned by the referrer with the corresponding charge recorded to sales and marketing expense. Referral coupons typically expire within one year. The Company estimates breakage using its historical experience. As of September 30, 2023 and December 31, 2022, the rider referral coupon liability was not material. Light Vehicle Rider Incentives Incentives offered to Light Vehicle riders were not material for the three and nine months ended September 30, 2023 and 2022. For the three and nine months ended September 30, 2023, in relation to the driver, rider and Light Vehicle riders incentive programs, the Company recorded $241.2 million and $854.8 million as a reduction to revenue and $43.1 million and $90.0 million as sales and marketing expense. For the three and nine months ended September 30, 2022, in relation to the driver, rider and Light Vehicle riders incentive programs, the Company recorded $288.2 million and $1.0 billion as a reduction to revenue and $29.3 million and $86.9 million as sales and marketing expense.
Enterprise and Trade Receivables	Enterprise and Trade Receivables The Company collects any fees owed for completed transactions on the Lyft Platform primarily from the rider’s authorized payment method. Uncollected fees are included in prepaid expenses and other current assets on the condensed consolidated balance sheets and represent receivables from (i) participants in the Company’s enterprise programs (“Enterprise Users”), where the transactions have been completed and the amounts owed from the Enterprise Users have either been invoiced or are unbilled as of the reporting date; and (ii) riders where the authorized payment method is a credit card but the fare amounts have not yet settled with third-party payment processors. Under the ToS, drivers agree that the Company retains the applicable fee as consideration for their use of the Lyft Platform and related activities from the fare and related charges it collects from riders on behalf of drivers. Accordingly, the Company has no trade receivables from drivers. The portion of the fare receivable to be remitted to drivers is included in accrued and other current liabilities on the condensed consolidated balance sheets.
Investments	Investments Debt Securities The Company’s accounting for its investments in debt securities is based on the legal form of the security, the Company’s intended holding period for the security, and the nature of the transaction. Investments in debt securities include commercial paper, certificates of deposit, corporate bonds, and U.S. government securities. Investments in debt securities are classified as available-for-sale and are recorded at fair value. The Company considers an available-for-sale debt security to be impaired if the fair value of the investment is less than its amortized cost basis. The entire difference between the amortized cost basis and the fair value of the Company’s available-for-sale debt securities is recognized on the condensed consolidated statements of operations as an impairment if, (i) the fair value of the security is below its amortized cost and (ii) the Company intends to sell or is more likely than not required to sell the security before recovery of its amortized cost basis. If neither criterion is met, the Company evaluates whether the decline in fair value is due to credit losses or other factors. In making this assessment, the Company considers the extent to which the security’s fair value is less than amortized cost, changes to the rating of the security by third-party rating agencies, and adverse conditions specific to the security, among other factors. If the Company’s assessment indicates that a credit loss exists, the credit loss is measured based on the Company’s best estimate of the cash flows expected to be collected. When developing its estimate of cash flows expected to be collected, the Company considers all available information relevant to the collectability of the security, including past events, current conditions, and reasonable and supportable forecasts. Credit loss impairments are recognized through an allowance for credit losses adjustment to the amortized cost basis of the debt securities on the balance sheet with an offsetting credit loss expense on the condensed consolidated statements of operations. Impairments related to factors other than credit losses are recognized as an adjustment to the amortized cost basis of the security and an offsetting amount in accumulated other comprehensive income (loss), net of tax. As of September 30, 2023, the Company had not recorded any credit impairments. The Company determines realized gains or losses on the sale of debt securities on a specific identification method. The Company’s investments in debt securities include: (i) Cash and cash equivalents. Cash equivalents include certificates of deposits, commercial paper and corporate bonds that have an original maturity of 90 days or less and are readily convertible to known amounts of cash. (ii) Short-term investments. Short-term investments are comprised of commercial paper, certificates of deposit, and corporate bonds, which mature in twelve months or less. As a result, the Company classifies these investments as current assets in the accompanying condensed consolidated balance sheets. (iii) Restricted investments. Restricted investments are comprised of debt security investments in commercial paper, certificates of deposit, corporate bonds and U.S. government securities which are held in trust accounts at third-party financial institutions pursuant to certain contracts with insurance providers. Non-marketable Equity Securities The Company has elected to measure its investments in non-marketable equity securities at cost, with remeasurements to fair value only upon the occurrence of observable transactions for identical or similar investments of the same issuer or impairment. The Company qualitatively assesses whether indicators of impairment exist. Factors considered in this assessment include the investees’ financial and liquidity position, access to capital resources, and macroeconomic conditions, among others. If an impairment exists, the Company estimates the fair value of the investment by using the best information available, which may include cash flow projections or other available market data, and recognizes a loss for the amount by which the carrying value exceeds the fair value of the investment on the condensed consolidated statements of operations.
Fair Value Measurements	Fair Value Measurements The Company measures assets and liabilities at fair value based on an expected exit price, which represents the amount that would be received on the sale of an asset or paid to transfer a liability in an orderly transaction between market participants. As such, fair value may be based on assumptions that market participants would use in pricing an asset or liability. The authoritative guidance on fair value measurements establishes a consistent framework for measuring fair value on either a recurring or nonrecurring basis, whereby inputs used in valuation techniques, are assigned a hierarchical level. The following are the hierarchical levels of inputs to measure fair value: Level 1 Observable inputs that reflect quoted prices (unadjusted) for identical assets or liabilities in active markets. Level 2 Inputs reflect quoted prices for identical assets or liabilities in markets that are not active; quoted prices for similar assets or liabilities in active markets; inputs other than quoted prices that are observable for the assets or liabilities; or inputs that are derived principally from or corroborated by observable market data by correlation or other means. Level 3 Unobservable inputs reflecting our own assumptions incorporated in valuation techniques used to determine fair value. These assumptions are required to be consistent with market participant assumptions that are reasonably available. The carrying values of the Company’s accounts payable and accrued and other liabilities approximate their respective fair values due to the short period of time to payment.
Insurance Reserves	Insurance Reserves The Company utilizes both a wholly-owned captive insurance subsidiary and third-party insurance, which may include deductibles and self-insured retentions, to insure or reinsure costs including auto liability, uninsured and underinsured motorist, auto physical damage, first party injury coverages including personal injury protection under state law and general business liabilities up to certain limits. The recorded liabilities reflect the estimated cost for claims incurred but not paid and claims that have been incurred but not yet reported and any estimable administrative run-out expenses related to the processing of these outstanding claim payments. Liabilities are determined on a quarterly basis by internal actuaries through an analysis of historical trends, changes in claims experience including consideration of new information and application of loss development factors among other inputs and assumptions. On an annual basis or more frequently as determined by management, an independent third-party actuary will evaluate the liabilities for appropriateness with claims reserve valuations. Insurance claims may take years to completely settle, and the Company has available limited historical loss experience because of the limited operational history. The Company makes certain assumptions based on currently available information and industry statistics, with the loss development factors as one of the most significant assumptions, and utilizes actuarial models and techniques to estimate the reserves. A number of factors can affect the actual cost of a claim, including the length of time the claim remains open, economic and healthcare cost trends and the results of related litigation. Furthermore, claims may emerge in future years for events that occurred in a prior year at a rate that differs from previous actuarial projections. The impact of these factors on ultimate costs for insurance is difficult to estimate and could be material. However, while the Company believes that the insurance reserve amount is adequate, the ultimate liability may be in excess of, or less than, the amount provided. As a result, the net amounts that will ultimately be paid to settle the liability and when amounts will be paid may significantly vary from the estimated amounts provided for on the condensed consolidated balance sheets. For example, disruptive factors may distort data, metrics and patterns and result in rapid increases in insurance cost and reserve deficiency. These disruptive factors can include recent economic conditions and ongoing global events such as the high inflationary environment, increased litigation, and higher than expected losses across the commercial auto industry. The Company continues to review its insurance estimates in a regular, ongoing process as historical loss experience develops, additional claims are reported and settled, and the legal, regulatory and economic environment evolves. On April 22, 2021, the Company’s wholly-owned subsidiary, Pacific Valley Insurance Company, Inc. (“PVIC”), entered into a Quota Share Reinsurance Agreement (the “Reinsurance Agreement”) with DARAG Bermuda LTD (“DARAG”), under which DARAG reinsured a legacy portfolio of auto insurance policies, based on reserves in place as of March 31, 2021, for $183.2 million of coverage above the liabilities recorded as of that date (the “Reinsurance Transaction”). Under the terms of the Reinsurance Agreement, PVIC ceded to DARAG approximately $251.3 million of certain legacy insurance liabilities for policies underwritten during the period of October 1, 2018 to October 1, 2020, with an aggregate limit of $434.5 million, for a premium of $271.5 million. Losses ceded under the Reinsurance Agreement that exceed $271.5 million, but are below the aggregate limit of $434.5 million, resulted in the recognition of a deferred gain liability. The deferred gain liability was amortized and recognized as a benefit to the statement of operations over the estimated remaining settlement period of the ceded reserves. The settlement period of the ceded reserves was based on the life-to-date cumulative losses collected and likely extends over periods longer than a quarter. The amount of the deferral that was amortized was recalculated each period based on loss payments and updated estimates of the portfolio’s total losses. When the amount and timing of the reinsurance recoveries were uncertain, the recovery method was used to calculate the amount of amortization in period. The deferral of gains had a negative impact in the respective period to cost of revenue as the losses on direct liabilities were not offset by gains from excess benefits under the Reinsurance Agreement. The amortization of these deferred gains provided a benefit to cost of revenue over multiple periods equal to the excess benefits received. Deferred gain liabilities for the Reinsurance Transaction are included in accruals and other current liabilities on the condensed consolidated balance sheets.
Leases	Leases In accordance with ASC 842, the Company determines if an arrangement is or contains a lease at contract inception by assessing whether the arrangement contains an identified asset and whether the lessee has the right to control such asset. The Company determines the classification and measurement of its leases upon lease commencement. The Company enters into certain agreements as a lessor and either leases or subleases the underlying asset in the agreement to customers. The Company also enters into certain agreements as a lessee. If any of the following criteria are met, the Company classifies the lease as a financing lease (as a lessee) or as a direct financing or sales-type lease (both as a lessor): • The lease transfers ownership of the underlying asset to the lessee by the end of the lease term; • The lease grants the lessee an option to purchase the underlying asset that the Company is reasonably certain to exercise; • The lease term is for 75% or more of the remaining economic life of the underlying asset, unless the commencement date falls within the last 25% of the economic life of the underlying asset; • The present value of the sum of the lease payments equals or exceeds 90% of the fair value of the underlying asset; or • The underlying asset is of such a specialized nature that it is expected to have no alternative use to the lessor at the end of the lease term. Leases that do not meet any of the above criteria are accounted for as operating leases. Lessor The Company’s lease arrangements include vehicle rentals to drivers or renters under the Flexdrive program and Light Vehicle rentals to single-use riders. Due to the short-term nature of these arrangements, the Company classifies these leases as operating leases. The Company does not separate lease and non-lease components, such as insurance or roadside assistance provided to the lessee, in its lessor lease arrangements. Lease payments are primarily fixed and are recognized as revenue in the period over which the lease arrangement occurs. Taxes or other fees assessed by governmental authorities that are both imposed on and concurrent with each lease revenue-producing transaction and collected by the Company from the lessee are excluded from the consideration in its lease arrangements. The Company mitigates residual value risk of its leased assets by performing regular maintenance and repairs, as necessary, and through periodic reviews of asset depreciation rates based on the Company's ongoing assessment of present and estimated future market conditions. Lessee The Company’s leases include real estate property to support its operations and Flexdrive vehicles that may be used by drivers to provide ridesharing services on the Lyft Platform. For leases with a term greater than 12 months, the Company records the related right-of-use asset and lease liability at the present value of lease payments over the term. The lease terms may include options to extend or terminate the lease when it is reasonably certain that the Company will exercise such options. The Company does not separate lease and non-lease components of contracts for real estate property leases, but has elected to do so for vehicle leases when non-lease components exist in these arrangements. For certain leases, the Company also applies a portfolio approach to account for right-of-use assets and lease liabilities that are similar in nature and have nearly identical contract provisions. The Company’s leases do not provide a readily determinable implicit rate. Therefore, the Company estimates its incremental borrowing rate to discount the lease payments based on information available at lease commencement. The Company determines its incremental borrowing rate based on the rate of interest that the Company would have to pay to borrow on a collateralized basis over a similar term for an amount equal to the lease payments in a similar economic environment. Lease payments may be fixed or variable; however, only fixed payments are included in the Company’s lease liability calculation. Operating leases are included in operating lease right-of-use assets, operating lease liabilities — current and operating lease liabilities on the condensed consolidated balance sheets. Lease costs for the Company's operating leases are recognized on a straight-line basis primarily within operating expenses over the lease term. Finance leases are included in property and equipment, net, accrued and other current liabilities, and other liabilities on the condensed consolidated balance sheets. Finance lease assets are amortized on a straight-line basis over the shorter of the estimated useful lives of the assets or the lease term in cost of revenue on the condensed consolidated statements of operations. The interest component of finance leases is included in cost of revenue on the condensed consolidated statements of operations and recognized using the effective interest method over the lease term. Variable lease payments are recognized primarily in operating expenses in the period in which the obligation for those payments is incurred. Similar to other long-lived assets discussed below, the Company measures recoverability of these assets by comparing the carrying amounts to the future undiscounted cash flows that the assets or the asset group are expected to generate. If the carrying value of the assets are not recoverable, the impairment recognized is measured as the amount by which the carrying value of the asset exceeds its fair value. For leased assets, such circumstances would include the decision to leave a leased facility prior to the end of the minimum lease term or subleases for which estimated cash flows do not fully cover the costs of the associated lease. The Company committed to a decision to exit and sublease or cease use of certain facilities to align with the Company’s anticipated operating needs and incurred impairment charges related to real estate operating right-of-use assets of $2.5 million, $10.5 million, and $55.3 million during the quarters ended June 30, 2023, March 31, 2023, and December 31, 2022, respectively. Refer to Note 13 “Restructuring” to the condensed consolidated financial statements for further information.
Leases	Leases In accordance with ASC 842, the Company determines if an arrangement is or contains a lease at contract inception by assessing whether the arrangement contains an identified asset and whether the lessee has the right to control such asset. The Company determines the classification and measurement of its leases upon lease commencement. The Company enters into certain agreements as a lessor and either leases or subleases the underlying asset in the agreement to customers. The Company also enters into certain agreements as a lessee. If any of the following criteria are met, the Company classifies the lease as a financing lease (as a lessee) or as a direct financing or sales-type lease (both as a lessor): • The lease transfers ownership of the underlying asset to the lessee by the end of the lease term; • The lease grants the lessee an option to purchase the underlying asset that the Company is reasonably certain to exercise; • The lease term is for 75% or more of the remaining economic life of the underlying asset, unless the commencement date falls within the last 25% of the economic life of the underlying asset; • The present value of the sum of the lease payments equals or exceeds 90% of the fair value of the underlying asset; or • The underlying asset is of such a specialized nature that it is expected to have no alternative use to the lessor at the end of the lease term. Leases that do not meet any of the above criteria are accounted for as operating leases. Lessor The Company’s lease arrangements include vehicle rentals to drivers or renters under the Flexdrive program and Light Vehicle rentals to single-use riders. Due to the short-term nature of these arrangements, the Company classifies these leases as operating leases. The Company does not separate lease and non-lease components, such as insurance or roadside assistance provided to the lessee, in its lessor lease arrangements. Lease payments are primarily fixed and are recognized as revenue in the period over which the lease arrangement occurs. Taxes or other fees assessed by governmental authorities that are both imposed on and concurrent with each lease revenue-producing transaction and collected by the Company from the lessee are excluded from the consideration in its lease arrangements. The Company mitigates residual value risk of its leased assets by performing regular maintenance and repairs, as necessary, and through periodic reviews of asset depreciation rates based on the Company's ongoing assessment of present and estimated future market conditions. Lessee The Company’s leases include real estate property to support its operations and Flexdrive vehicles that may be used by drivers to provide ridesharing services on the Lyft Platform. For leases with a term greater than 12 months, the Company records the related right-of-use asset and lease liability at the present value of lease payments over the term. The lease terms may include options to extend or terminate the lease when it is reasonably certain that the Company will exercise such options. The Company does not separate lease and non-lease components of contracts for real estate property leases, but has elected to do so for vehicle leases when non-lease components exist in these arrangements. For certain leases, the Company also applies a portfolio approach to account for right-of-use assets and lease liabilities that are similar in nature and have nearly identical contract provisions. The Company’s leases do not provide a readily determinable implicit rate. Therefore, the Company estimates its incremental borrowing rate to discount the lease payments based on information available at lease commencement. The Company determines its incremental borrowing rate based on the rate of interest that the Company would have to pay to borrow on a collateralized basis over a similar term for an amount equal to the lease payments in a similar economic environment. Lease payments may be fixed or variable; however, only fixed payments are included in the Company’s lease liability calculation. Operating leases are included in operating lease right-of-use assets, operating lease liabilities — current and operating lease liabilities on the condensed consolidated balance sheets. Lease costs for the Company's operating leases are recognized on a straight-line basis primarily within operating expenses over the lease term. Finance leases are included in property and equipment, net, accrued and other current liabilities, and other liabilities on the condensed consolidated balance sheets. Finance lease assets are amortized on a straight-line basis over the shorter of the estimated useful lives of the assets or the lease term in cost of revenue on the condensed consolidated statements of operations. The interest component of finance leases is included in cost of revenue on the condensed consolidated statements of operations and recognized using the effective interest method over the lease term. Variable lease payments are recognized primarily in operating expenses in the period in which the obligation for those payments is incurred. Similar to other long-lived assets discussed below, the Company measures recoverability of these assets by comparing the carrying amounts to the future undiscounted cash flows that the assets or the asset group are expected to generate. If the carrying value of the assets are not recoverable, the impairment recognized is measured as the amount by which the carrying value of the asset exceeds its fair value. For leased assets, such circumstances would include the decision to leave a leased facility prior to the end of the minimum lease term or subleases for which estimated cash flows do not fully cover the costs of the associated lease. The Company committed to a decision to exit and sublease or cease use of certain facilities to align with the Company’s anticipated operating needs and incurred impairment charges related to real estate operating right-of-use assets of $2.5 million, $10.5 million, and $55.3 million during the quarters ended June 30, 2023, March 31, 2023, and December 31, 2022, respectively. Refer to Note 13 “Restructuring” to the condensed consolidated financial statements for further information.
Variable Interest Entities	Variable Interest Entities In accordance with Accounting Standards Codification Topic 810, Consolidation (“ASC 810”), Consolidation, the Company evaluates its ownership, contractual and other interests in entities to assess whether it has a variable interest in entities in which it has a financial relationship and, if so, whether or not those entities are variable interest entities (“VIEs”). These evaluations are complex, involving judgment and the use of estimates and assumptions based on available historical and prospective information, among other factors. For an entity to qualify as a VIE, ASC 810 requires the Company to determine if the Company is the primary beneficiary of the VIE, and, if so, to consolidate such entity into its condensed consolidated financial statements. The Company consolidates VIEs in which it has a controlling financial interest and is therefore deemed the primary beneficiary. A controlling financial interest will have both of the following characteristics: (a) the power to direct the VIE activities that most significantly impact economic performance; and (b) the obligation to absorb the VIE losses and the right to receive benefits that are significant to the VIE. Periodically, the Company reevaluates its ownership, contractual and other
Recently Accounting Pronouncements	Recent Accounting Pronouncements Recently Adopted Accounting Pronouncements In August 2020, the FASB issued ASU No. 2020-06, “Debt—Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging— Contracts in Entity’s Own Equity (Subtopic 815-40): Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity”, which simplifies the accounting for convertible instruments by eliminating the requirement to separate embedded conversion features from the host contract when the conversion features are not required to be accounted for as derivatives under Topic 815, Derivatives and Hedging, or that do not result in substantial premiums accounted for as paid-in capital. By removing the separation model, a convertible debt instrument will be reported as a single liability instrument with no separate accounting for embedded conversion features. This new standard also removes certain settlement conditions that are required for contracts to qualify for equity classification and simplifies the diluted earnings per share calculations by requiring that an entity use the if-converted method and that the effect of potential share settlement be included in diluted earnings per share calculations. This new standard is effective for the Company for fiscal years beginning after December 15, 2021, including interim periods within those fiscal years. The Company adopted this standard effective January 1, 2022, using the modified retrospective method. In the condensed consolidated balance sheets, the adoption of this new guidance resulted in: • an increase of $133.5 million to the total carrying value of the convertible senior notes to reflect the full principal amount of the convertible senior notes outstanding net of issuance costs, • a reduction of $140.0 million (net of tax) to additional paid-in capital to remove the equity component separately recorded for the conversion features associated with the convertible senior notes, and • a cumulative-effect adjustment of $6.5 million (net of tax) to the beginning balance of accumulated deficit as of January 1, 2022. In October 2021, the FASB issued ASU No. 2021-08, “Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers” (“ASU 2021-08”), which requires companies to apply the definition of a performance obligation under ASC 606, Revenue from Contracts with Customers, to recognize and measure contract assets and contract liabilities relating to contracts with customers that are acquired in a business combination. This will result in the acquirer recording acquired contract assets and liabilities on the same basis that would have been recorded by the acquiree before the acquisition under ASC 606. This new standard became effective for the Company for fiscal years beginning after December 15, 2022, including interim periods within that fiscal year, with early adoption permitted. The Company adopted ASU 2021-08 in the second quarter of 2022 on a prospective basis. There were no acquisitions in the first quarter of 2022. In December 2022, the FASB issued ASU No. 2022-06, which defers the sunset date of “Reference Rate Reform (Topic 848)”, from December 31, 2022 to December 31, 2024. ASC 848 provides temporary relief relating to the potential accounting impact relating to the replacement of LIBOR or other reference rates expected to be discounted as a result of reference rate reform. ASU 2022-06 is effective immediately for all entities. This accounting standard update did not have a material impact on our condensed consolidated financial statements. Recent Accounting Pronouncements Not Yet Adopted

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	9 Months Ended
	Sep. 30, 2023
Accounting Policies [Abstract]
Schedule of Revenues	The table below presents the Company’s revenues as included on the condensed consolidated statements of operations (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 Revenue from contracts with customers (ASC 606) $ 1,069,939 $ 966,048 $ 2,963,594 $ 2,698,694 Rental revenue (ASC 842) 87,611 87,772 215,410 221,449 Total revenue $ 1,157,550 $ 1,053,820 $ 3,179,004 $ 2,920,143

Acquisitions (Tables)

Acquisitions (Tables)	9 Months Ended
	Sep. 30, 2023
Business Combination and Asset Acquisition [Abstract]
Schedule of Assets Acquired and Liabilities Assumed	The following table summarizes the fair value of the assets acquired and liabilities assumed at the Closing Date (in thousands): Cash and cash equivalents $ 2,665 Prepaid expenses and other current assets 34,845 Other investments 22,175 Property and equipment 2,202 Operating lease right-of-use assets 786 Identifiable intangible assets 45,047 Total identifiable assets acquired 107,720 Accounts payable 6,004 Accrued and other liabilities 3,344 Operating lease liabilities — current 292 Operating lease liabilities 494 Other liabilities 14,678 Total liabilities assumed 24,812 Non-controlling interest (recorded to equity) 140 Net assets assumed 82,768 Goodwill 80,748 Total acquisition consideration $ 163,516
Schedule of Fair Value and Useful Lives of Identified Intangible Assets	The Company recorded intangible assets at their fair value, which consisted of the following (in thousands): Estimated useful life (in years) Amount Tradename 2 $ 1,009 Customer relationships – cities 7 - 11 22,157 Developed technology (hardware and software) 2 - 3 21,881 Total intangible assets $ 45,047

Supplemental Financial Statem_2

Supplemental Financial Statement Information (Tables)	9 Months Ended
	Sep. 30, 2023
Additional Financial Information Disclosure [Abstract]
Summary of Cash Equivalents and Short-Term Investments	The following tables summarize the cost or amortized cost, gross unrealized gain, gross unrealized loss and fair value of the Company’s cash equivalents and short-term investments as of the dates indicated (in thousands): September 30, 2023 Cost or Unrealized Estimated Gains Losses Unrestricted Balances (1) Money market funds $ 64,750 $ — $ — $ 64,750 Money market deposit accounts 164,864 — — 164,864 Certificates of deposit 195,843 44 (30) 195,857 Commercial paper 868,305 54 (523) 867,836 U.S. government securities 209,433 19 (27) 209,425 Total unrestricted cash equivalents and short-term investments 1,503,195 117 (580) 1,502,732 Restricted Balances (2) Money market funds 54,698 — — 54,698 Term deposits 3,539 — — 3,539 Certificates of deposit 168,008 40 (21) 168,027 Commercial paper 568,911 41 (260) 568,692 U.S. government securities 230,893 22 (42) 230,873 Total restricted cash equivalents and investments 1,026,049 103 (323) 1,025,829 Total unrestricted and restricted cash equivalents and investments $ 2,529,244 $ 220 $ (903) $ 2,528,561 _______________ (1) Excludes $163.9 million of cash, which is included within the $1.7 billion of cash and cash equivalents and short-term investments on the condensed consolidated balance sheets. (2) Excludes $1.4 million of restricted cash, which is included within the $1.0 billion of restricted cash and cash equivalents and restricted short-term investments on the condensed consolidated balance sheets. December 31, 2022 Cost or Unrealized Estimated Gains Losses Unrestricted Balances (1) Money market funds $ 3,276 $ — $ — $ 3,276 Money market deposit accounts 126,994 — — 126,994 Term deposits 5,000 — — 5,000 Certificates of deposit 502,374 295 (510) 502,159 Commercial paper 964,410 403 (1,663) 963,150 Corporate bonds 61,605 — (104) 61,501 U.S. government securities 7,059 1 — 7,060 Total unrestricted cash equivalents and short-term investments 1,670,718 699 (2,277) 1,669,140 Restricted Balances (2) Money market funds 93,362 — — 93,362 Term deposits 3,539 — — 3,539 Certificates of deposit 355,241 174 (437) 354,978 Commercial paper 596,213 243 (865) 595,591 Corporate bonds 14,933 — (17) 14,916 U.S. government securities 74,699 2 (167) 74,534 Total restricted cash equivalents and investments 1,137,987 419 (1,486) 1,136,920 Total unrestricted and restricted cash equivalents and investments $ 2,808,705 $ 1,118 $ (3,763) $ 2,806,060 _______________ (1) Excludes $126.5 million of cash and $1.1 million in marketable equity securities, which is included within the $1.8 billion of cash and cash equivalents and short-term investments on the condensed consolidated balance sheets. (2) Excludes $1.3 million of restricted cash, which is included within the $1.1 billion of restricted cash and cash equivalents and restricted short-term investments on the condensed consolidated balance sheets.
Schedule of AFS Debt Securities	The following table summarizes the Company’s available-for-sale debt securities in an unrealized loss position for which no allowance for credit losses was recorded, aggregated by major security type (in thousands): September 30, 2023 Estimated Fair Value Unrealized Losses Certificates of deposit $ 123,327 $ (51) Commercial paper 836,310 (783) U.S. government securities 95,143 (69) Total available-for-sale debt securities in an unrealized loss position $ 1,054,780 $ (903)
Schedule of Accrued and Other Current Liabilities	Accrued and other current liabilities consisted of the following as of the dates indicated (in thousands): September 30, 2023 December 31, 2022 Insurance-related accruals $ 619,830 $ 566,831 Legal and tax related accruals 307,448 458,209 Ride-related accruals 215,665 181,138 Insurance claims payable and related fees 53,904 53,280 Long-term debt, current 26,442 36,287 Deferred gain related to the Reinsurance Transaction (1) — 2,357 Other 303,730 263,507 Accrued and other current liabilities $ 1,527,019 $ 1,561,609 _______________
Schedule of Other Income (Expense), Net	The following table sets forth the primary components of other income (expense), net as reported on the condensed consolidated statements of operations (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 Interest income $ 36,869 $ 12,945 $ 105,429 $ 20,321 Gain (loss) on sale of securities, net (6) (28) (201) (61) Foreign currency exchange gains (losses), net (2,484) (7,121) 294 (6,436) Sublease income 1,183 2,555 3,737 10,099 Gain on equity method investment (1) — — 12,926 — Impairment charges — (135,714) — (135,714) Other, net (1,163) 1,208 2,504 (3,648) Other income (expense), net $ 34,399 $ (126,155) $ 124,689 $ (115,439) _______________

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Sep. 30, 2023
Fair Value Disclosures [Abstract]
Summary of Financial Instruments Measured at Fair Value on Recurring Basis	The following tables set forth the Company’s financial assets and liabilities that were measured at fair value on a recurring basis as of the dates indicated by level within the fair value hierarchy (in thousands): September 30, 2023 Level 1 Level 2 Level 3 Total Assets Unrestricted cash equivalents and investments (1) Money market funds $ 64,750 $ — $ — $ 64,750 Certificates of deposit — 195,857 — 195,857 Commercial paper — 867,836 — 867,836 U.S. government securities — 209,425 — 209,425 Total unrestricted cash equivalents and short-term investments 64,750 1,273,118 — 1,337,868 Restricted cash equivalents and investments (2) Money market funds 54,698 — — 54,698 Certificates of deposit — 168,027 — 168,027 Commercial paper — 568,692 — 568,692 U.S. government securities — 230,873 — 230,873 Total restricted cash equivalents and investments 54,698 967,592 — 1,022,290 Total financial assets $ 119,448 $ 2,240,710 $ — $ 2,360,158 _______________ (1) $163.9 million of cash, $164.9 million of money market deposit accounts and $3.5 million of term deposits are not subject to recurring fair value measurement and therefore excluded from this table. However, these balances are included within the $1.7 billion of cash and cash equivalents and short-term investments on the condensed consolidated balance sheets. (2) $1.4 million of restricted cash is not subject to recurring fair value measurement and therefore excluded from this table. However, this balance is included within the $1.0 billion of restricted cash and cash equivalents and restricted short-term investments on the condensed consolidated balance sheets. December 31, 2022 Level 1 Level 2 Level 3 Total Assets Unrestricted cash equivalents and investments (1) Money market funds $ 3,276 $ — $ — $ 3,276 Certificates of deposit — 502,159 — 502,159 Commercial paper — 963,150 — 963,150 Corporate bonds — 61,501 — 61,501 U.S. government securities — 7,060 — 7,060 Total unrestricted cash equivalents and short-term investments 3,276 1,533,870 — 1,537,146 Restricted cash equivalents and investments (2) Money market funds 93,362 — — 93,362 Certificates of deposit — 354,978 — 354,978 Commercial paper — 595,591 — 595,591 Corporate bonds — 14,916 — 14,916 U.S. government securities — 74,534 — 74,534 Total restricted cash equivalents and investments 93,362 1,040,019 — 1,133,381 Marketable equity securities (3) 1,136 — — 1,136 Total financial assets $ 97,774 $ 2,573,889 $ — $ 2,671,663 Liabilities Contingent consideration (4) $ — $ — $ 15,000 $ 15,000 Total financial liabilities $ — $ — $ 15,000 $ 15,000 _______________ (1) $126.5 million of cash, $127.0 million of money market deposit accounts and $5.0 million of term deposits are not subject to recurring fair value measurement and therefore excluded from this table. However, these balances are included within the $1.8 billion of cash and cash equivalents and short-term investments on the condensed consolidated balance sheets. (2) $1.3 million of restricted cash and $3.5 million of a restricted term deposit are not subject to recurring fair value measurement and therefore excluded from this table. However, these balances are included within the $1.1 billion of restricted cash and cash equivalents and restricted short-term investments on the condensed consolidated balance sheets. (3) Included in other investments on the condensed consolidated balance sheets. (4) In the second quarter of 2022, the Company completed the acquisition of PBSC which included up to $15.0 million in contingent consideration to be paid over the next year. The contingent consideration was classified as a liability and is included in accrued and other current liabilities on the condensed consolidated balance sheets. Refer to Note 3 "Acquisitions" to the condensed consolidated financial statements for information regarding this contingent consideration.
Summary of Reconciliation of Level 3 Financial Liabilities	The following table provides a reconciliation of the Company's Level 3 financial liabilities (in thousands): Nine Months Ended September 30, 2023 2022 Balance at beginning of period $ 15,000 $ — Additions — 14,100 Payments (15,000) — Change in fair value — 900 Balance at end of period (1) $ — $ 15,000 _______________ (1) Relates to the contingent consideration from the acquisition of PBSC in the second quarter of 2022 which was paid out during the second quarter of 2023. The contingent consideration was classified as a liability and was included in accrued and other current liabilities on the condensed consolidated balance sheets. Refer to Note 3 "Acquisitions" to the condensed consolidated financial statements for information regarding this contingent consideration.
Summary of Fair Value of Assets Measured on a Non Recurring Basis	The following table provides a reconciliation of the Company's financial assets measured at fair value on a non-recurring basis within other investments on the condensed consolidated balance sheets (in thousands): Nine Months Ended September 30, 2023 2022 Balance at beginning of period $ 5,903 $ 80,411 Additions (1) — 64,043 Change in fair value (19) (138,671) Balance at end of period $ 5,884 $ 5,783 _______________

Leases (Tables)

Leases (Tables)	9 Months Ended
	Sep. 30, 2023
Leases [Abstract]
Schedule of Lease Position	The table below presents the lease-related assets and liabilities recorded on the condensed consolidated balance sheets (in thousands, except for remaining lease terms and percentages): September 30, 2023 December 31, 2022 Operating Leases Assets Operating lease right-of-use assets (1) $ 100,479 $ 135,213 Liabilities Operating lease liabilities, current $ 42,330 $ 45,803 Operating lease liabilities, non-current 141,894 176,356 Total operating lease liabilities $ 184,224 $ 222,159 Finance Leases Assets Finance lease right-of-use assets (2) $ 73,173 $ 32,887 Liabilities Finance lease liabilities, current (3) 21,866 15,053 Finance lease liabilities, non-current (4) 54,343 19,921 Total finance lease liabilities $ 76,209 $ 34,974 Weighted-average remaining lease term (years) Operating leases 4.7 5.1 Finance leases 3.6 2.5 Weighted-average discount rate Operating leases 6.7 % 6.4 % Finance leases 6.4 % 5.2 % _______________ (1) The Company committed to a decision to exit and sublease or cease use of certain facilities to align with the Company’s anticipated operating needs and incurred charges related to real estate operating right-of-use assets of $2.5 million in the second quarter of 2023, $10.5 million in the first quarter of 2023 and $55.3 million in the fourth quarter of 2022. (2) This balance is included within property and equipment, net on the condensed consolidated balance sheets and is primarily related to Flexdrive leases. (3) This balance is included within other current liabilities on the condensed consolidated balance sheets and is primarily related to Flexdrive leases. (4) This balance is included within other liabilities on the condensed consolidated balance sheets and is primarily related to Flexdrive leases.
Schedule of Lease Costs and Supplemental Cash Flow Information	The table below presents certain information related to the costs for operating leases and finance leases for the nine months ended September 30, 2023 and 2022 (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 Operating Leases Operating lease cost $ 9,587 $ 16,916 $ 31,076 $ 52,078 Finance Leases Amortization of right-of-use assets 5,395 3,828 14,017 11,589 Interest on lease liabilities 1,082 261 2,143 676 Other Lease Costs Short-term lease cost 920 1,191 2,866 4,176 Variable lease cost (1) 2,575 3,796 7,665 12,790 Total lease cost $ 19,559 $ 25,992 $ 57,767 $ 81,309 _______________ (1) Consists primarily of common area maintenance, taxes and utilities for real estate leases, and certain vehicle-related charges under the Flexdrive program. The table below presents certain supplemental information related to the cash flows for operating and finance leases recorded on the condensed consolidated statements of cash flows (in thousands): Nine Months Ended September 30, 2023 2022 Cash paid for amounts included in the measurement of lease liabilities Operating cash flows from operating leases $ 44,579 $ 58,005 Operating cash flows from finance leases 2,284 689 Financing cash flows from finance leases 35,935 21,706
Schedule of Operating Lease Liabilities	The table below reconciles the undiscounted cash flows for each of the first five years and total of the remaining years to the lease liabilities recorded on the condensed consolidated balance sheet as of September 30, 2023 (in thousands): Operating Leases Finance Leases Total Leases Remainder of 2023 $ 9,581 $ 14,120 $ 23,701 2024 57,310 23,293 80,603 2025 46,029 19,933 65,962 2026 32,417 11,430 43,847 2027 27,532 8,166 35,698 Thereafter 43,455 8,274 51,729 Total minimum lease payments 216,324 85,216 301,540 Less: amount of lease payments representing interest (32,100) (9,007) (41,107) Present value of future lease payments 184,224 76,209 260,433 Less: current obligations under leases (42,330) (21,866) (64,196) Long-term lease obligations $ 141,894 $ 54,343 $ 196,237
Schedule of Finance Lease Liabilities	The table below reconciles the undiscounted cash flows for each of the first five years and total of the remaining years to the lease liabilities recorded on the condensed consolidated balance sheet as of September 30, 2023 (in thousands): Operating Leases Finance Leases Total Leases Remainder of 2023 $ 9,581 $ 14,120 $ 23,701 2024 57,310 23,293 80,603 2025 46,029 19,933 65,962 2026 32,417 11,430 43,847 2027 27,532 8,166 35,698 Thereafter 43,455 8,274 51,729 Total minimum lease payments 216,324 85,216 301,540 Less: amount of lease payments representing interest (32,100) (9,007) (41,107) Present value of future lease payments 184,224 76,209 260,433 Less: current obligations under leases (42,330) (21,866) (64,196) Long-term lease obligations $ 141,894 $ 54,343 $ 196,237

Debt (Tables)

Debt (Tables)	9 Months Ended
	Sep. 30, 2023
Debt Disclosure [Abstract]
Schedule of Outstanding Debt Obligations and Interest Expense Related to Convertible Debt	Outstanding debt obligations as of September 30, 2023 were as follows (in thousands): Maturities Interest Rates as of September 30, 2023 September 30, 2023 December 31, 2022 Convertible senior notes (1) May 2025 1.50% $ 742,733 $ 740,609 Non-revolving Loan 2023 - 2025 2.88% - 2.92% 5,152 24,429 Master Vehicle Loan 2023 - 2026 2.60% - 7.10% 112,373 74,456 Total long-term debt, including current maturities $ 860,258 $ 839,494 Less: long-term debt maturing within one year 26,442 36,287 Total long-term debt $ 833,816 $ 803,207 _______________ (1) The Company adopted ASC 2020-06 on January 1, 2022 using the modified retrospective approach, which resulted in a $133.5 million increase to the carrying value of the convertible senior notes to reflect the full principal amount of the convertible senior notes outstanding net of issuance costs at the time of adoption. The following table sets forth the primary components of interest expense as reported on the condensed consolidated statements of operations (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 Contractual interest expense related to the 2025 Notes $ 2,803 $ 2,803 $ 8,409 $ 8,409 Amortization of debt discount and issuance costs (1) 908 736 2,598 2,083 Interest expense related to vehicle loans 2,498 1,483 6,786 4,039 Interest expense $ 6,209 $ 5,022 $ 17,793 $ 14,531 _______________
Schedule of Convertible Notes	The net carrying amounts of the liability component of the 2025 Notes were as follows (in thousands): September 30, 2023 December 31, 2022 Principal $ 747,498 $ 747,498 Unamortized debt discount and debt issuance costs (1) (4,765) (6,889) Net carrying amount of liability component $ 742,733 $ 740,609 _______________
Schedule of Maturities of Long-Term Debt Outstanding	Maturities of long-term debt outstanding, including current maturities, as of September 30, 2023 were as follows (in thousands): Remainder of 2023 $ 8,338 2024 23,536 2025 780,936 2026 47,448 2027 — Thereafter — Total long-term debt outstanding $ 860,258

Common Stock (Tables)

Common Stock (Tables)	9 Months Ended
	Sep. 30, 2023
Share-Based Payment Arrangement [Abstract]
Schedule of Restricted Stock Unit Activity	The summary of restricted stock unit ("RSU") activity is as follows (in thousands, except per share data): Number of Weighted- Aggregate Nonvested units as of December 31, 2022 22,315 $ 28.15 $ 244,926 Granted 42,879 8.91 Vested (22,092) 20.75 Canceled (7,282) 26.56 Nonvested units as of September 30, 2023 35,820 $ 9.84 $ 376,578

Net Loss Per Share (Tables)

Net Loss Per Share (Tables)	9 Months Ended
	Sep. 30, 2023
Earnings Per Share [Abstract]
Computation of Basic and Diluted Net Loss Per Share	The following table sets forth the computation of basic and diluted net loss per share for the periods indicated (in thousands, except per share data): Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 Net loss $ (12,100) $ (422,201) $ (314,011) $ (996,379) Weighted-average shares used in computing net loss per share, basic and diluted 389,307 356,478 381,697 351,224 Net loss per share, basic and diluted $ (0.03) $ (1.18) $ (0.82) $ (2.84)
Schedule of Outstanding Shares of Common Stock Equivalents Excluded from Computation of Diluted Net Loss Per Share	The following potentially dilutive outstanding shares were excluded from the computation of diluted net loss per share for the periods presented because including them would have had an anti-dilutive effect, 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): September 30, 2023 2022 Restricted stock units 21,520 28,014 2025 Notes (1) 19,471 19,471 Performance based restricted stock units 14,300 1,773 Stock options 790 994 ESPP 385 870 Total 56,466 51,122 _______________ (1) In connection with the issuance of the 2025 Notes, the Company entered into Capped Calls, which were not included for purposes of calculating the number of diluted shares outstanding, as their effect would have been anti-dilutive. The Capped Calls are expected to reduce the potential dilution to the Company's Class A common stock (or, in the event a conversion of the 2025 Notes is settled in cash, to reduce its cash payment obligation) in the event that at the time of conversion of the 2025 Notes the Company's Class A common stock price exceeds the conversion price of the 2025 Notes.

Restructuring (Tables)

Restructuring (Tables)	9 Months Ended
	Sep. 30, 2023
Restructuring and Related Activities [Abstract]
Schedule of restructuring related charges (benefits)	The following table summarizes the above restructuring related charges by line item within the Company’s condensed consolidated statements of operations where they were recorded in the quarter ended June 30, 2023 (in thousands): Stock-Based Compensation Severance and Other Employee Costs Right-of-Use Asset Impairments and Other Costs Accelerated Depreciation Total Cost of revenue $ 667 $ 3,204 $ — $ — $ 3,871 Operation and support 259 3,054 5,268 669 9,250 Research and development 4,539 21,254 — — 25,793 Sales and marketing 1,045 5,191 — — 6,236 General and administrative 3,213 14,535 400 — 18,148 Total $ 9,723 $ 47,238 $ 5,668 $ 669 $ 63,298 The following table summarizes the above restructuring related charges by line item within the Company’s condensed consolidated statements of operations where they were recorded in the quarter ended March 31, 2023 (in thousands): Stock-Based Compensation Severance and Other Employee Costs Right-of-Use Asset Impairments and Other Costs Accelerated Depreciation Total Cost of revenue $ — $ 1,101 $ — $ — $ 1,101 Operation and support 205 3,127 9,453 305 13,090 Research and development — 20 2,534 — 2,554 Sales and marketing — 14 — — 14 General and administrative — 64 7,604 16 7,684 Total $ 205 $ 4,326 $ 19,591 $ 321 $ 24,443 The following table summarizes the above restructuring related charges (benefits) by line item within the Company’s consolidated statements of operations where they were recorded in the year ended December 31, 2022 (in thousands): Stock-Based Compensation Severance and Other Employee Costs Right-of-Use Asset Impairments and Other Costs Accelerated Depreciation Total Cost of revenue $ 182 $ 1,612 $ — $ — $ 1,794 Operation and support (31) 5,173 4,851 8,680 18,673 Research and development 3,818 9,706 15,393 36 28,953 Sales and marketing 458 3,123 — — 3,581 General and administrative 5,082 9,861 37,120 15,192 67,255 Total $ 9,509 $ 29,475 $ 57,364 $ 23,908 $ 120,256

Summary of Significant Accoun_4

Summary of Significant Accounting Policies - Schedule of Revenues (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Accounting Policies [Abstract]
Revenue from contracts with customers (ASC 606)	$ 1,069,939	$ 966,048	$ 2,963,594	$ 2,698,694
Rental revenue (ASC 842)	87,611	87,772	215,410	221,449
Total revenue	$ 1,157,550	$ 1,053,820	$ 3,179,004	$ 2,920,143

Summary of Significant Accoun_5

Summary of Significant Accounting Policies - Additional Information (Details) $ in Thousands		3 Months Ended					9 Months Ended		12 Months Ended
	Apr. 22, 2021 USD ($)	Sep. 30, 2023 USD ($) vie	Jun. 30, 2023 USD ($)	Mar. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)	Sep. 30, 2022 USD ($)	Sep. 30, 2023 USD ($) vie	Sep. 30, 2022 USD ($)	Dec. 31, 2022 USD ($)	Jan. 01, 2022 USD ($)
Significant Accounting Policies
Accounts receivable		$ 315,900			$ 278,900		$ 315,900		$ 278,900
Allowance for credit loss		12,900			11,600		12,900		11,600
Revenue		1,157,550				$ 1,053,820	3,179,004	$ 2,920,143
Sales and marketing		129,947				133,722	355,055	400,805
Operating lease, impairment loss			$ 2,500	$ 10,500	55,300				55,300
Net carrying amount of liability component		860,258			839,494		860,258		839,494
Decrease to additional paid-in capital		(10,732,214)			(10,335,013)		(10,732,214)		(10,335,013)
Accumulated deficit		$ (10,254,606)			(9,940,595)		$ (10,254,606)		(9,940,595)
Number of variable interest entities (vie) | vie		1					1
DARAG Bermuda LTD
Significant Accounting Policies
Liability for future policy benefit, before reinsurance	$ 183,200
DARAG Bermuda LTD | Pacific Valley Insurance Company, Inc.
Significant Accounting Policies
Transfer of certain legacy auto insurance liabilities	251,300
Reinsurance obligations	434,500
Unearned premiums	$ 271,500
Convertible Senior Notes Due 2025
Significant Accounting Policies
Net carrying amount of liability component		$ 742,733			$ 740,609		$ 742,733		$ 740,609
Cumulative Effect, Period of Adoption, Adjustment
Significant Accounting Policies
Decrease to additional paid-in capital										$ 140,000
Accumulated deficit										6,500
Cumulative Effect, Period of Adoption, Adjustment | Convertible Senior Notes Due 2025
Significant Accounting Policies
Net carrying amount of liability component										133,500
Adjustment
Significant Accounting Policies
Decrease to additional paid-in capital										140,000
Accumulated deficit										$ 6,500
Ride Share | Revenue, Product and Service Benchmark | Product Concentration Risk
Significant Accounting Policies
Concentration risk (as a percent)							85%
Driver Rider And Light Vehicle Riders Incentive Programs
Significant Accounting Policies
Sales and marketing		43,100				29,300	$ 90,000	86,900
Driver Rider And Light Vehicle Riders Incentive Programs | Adjustment
Significant Accounting Policies
Revenue		$ (241,200)				$ (288,200)	$ (854,800)	$ (1,000,000)

Acquisitions - Additional Infor

Acquisitions - Additional Information (Details) - USD ($) $ in Thousands	May 17, 2022	Sep. 30, 2023	Jun. 30, 2023	Dec. 31, 2022	Jun. 30, 2022
Business Acquisition
Intangible assets, net		$ 62,492		$ 76,208
PBSC Urban Solutions
Business Acquisition
Ownership interest acquired (as a percent)	100%
Business combination, consideration transferred	$ 163,500
Fair value of the contingent consideration liability	14,100
Business combination, contingent consideration arrangements, range of outcomes, value, high			$ 15,000		$ 15,000
Intangible assets, net	45,047
PBSC Urban Solutions | Tradename
Business Acquisition
Intangible assets, net	$ 1,009
Estimated useful life (in years)	2 years
PBSC Urban Solutions | Contractual relationships – cities
Business Acquisition
Intangible assets, net	$ 22,157
PBSC Urban Solutions | Contractual relationships – cities | Minimum
Business Acquisition
Estimated useful life (in years)	7 years
PBSC Urban Solutions | Contractual relationships – cities | Maximum
Business Acquisition
Estimated useful life (in years)	11 years
PBSC Urban Solutions | Developed Technology
Business Acquisition
Intangible assets, net	$ 21,881
PBSC Urban Solutions | Developed Technology | Minimum
Business Acquisition
Estimated useful life (in years)	2 years
PBSC Urban Solutions | Developed Technology | Maximum
Business Acquisition
Estimated useful life (in years)	3 years

Acquisitions - Schedule of Asse

Acquisitions - Schedule of Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022	May 17, 2022
Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Net
Goodwill	$ 255,721	$ 261,582
PBSC Urban Solutions
Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Net
Cash and cash equivalents			$ 2,665
Prepaid expenses and other current assets			34,845
Other investments			22,175
Property and equipment			2,202
Operating lease right-of-use assets			786
Identifiable intangible assets			45,047
Total identifiable assets acquired			107,720
Accounts payable			6,004
Accrued and other liabilities			3,344
Operating lease liabilities — current			292
Operating lease liabilities			494
Other liabilities			14,678
Total liabilities assumed			24,812
Non-controlling interest (recorded to equity)			140
Net assets assumed			82,768
Goodwill			80,748
Total acquisition consideration			$ 163,516

Acquisitions - Schedule of Fair

Acquisitions - Schedule of Fair Value and Useful Lives of Identified Intangible Assets (Details) - USD ($) $ in Thousands	May 17, 2022	Sep. 30, 2023	Dec. 31, 2022
Business Acquisition
Intangible assets, net		$ 62,492	$ 76,208
PBSC Urban Solutions
Business Acquisition
Intangible assets, net	$ 45,047
PBSC Urban Solutions | Tradename
Business Acquisition
Estimated useful life (in years)	2 years
Intangible assets, net	$ 1,009
PBSC Urban Solutions | Customer relationships – cities
Business Acquisition
Intangible assets, net	$ 22,157
PBSC Urban Solutions | Customer relationships – cities | Minimum
Business Acquisition
Estimated useful life (in years)	7 years
PBSC Urban Solutions | Customer relationships – cities | Maximum
Business Acquisition
Estimated useful life (in years)	11 years
PBSC Urban Solutions | Developed technology (hardware and software)
Business Acquisition
Intangible assets, net	$ 21,881
PBSC Urban Solutions | Developed technology (hardware and software) | Minimum
Business Acquisition
Estimated useful life (in years)	2 years
PBSC Urban Solutions | Developed technology (hardware and software) | Maximum
Business Acquisition
Estimated useful life (in years)	3 years

Supplemental Financial Statem_3

Supplemental Financial Statement Information - Summary of Cash Equivalents and Short-Term Investments (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Cash Equivalents and Short-Term Investments
Unrestricted cash equivalents and investments, Cost or Amortized Cost	$ 1,503,195	$ 1,670,718
Unrestricted cash equivalents and investments, Unrealized Gains	117	699
Unrestricted cash equivalents and investments, Unrealized Losses	(580)	(2,277)
Unrestricted cash equivalents and investments, Estimated Fair Value	1,502,732	1,669,140
Restricted cash equivalents and investments, Cost or Amortized Cost	1,026,049	1,137,987
Restricted cash equivalents and investments, Unrealized Gains	103	419
Restricted cash equivalents and investments, Unrealized Losses	(323)	(1,486)
Restricted cash equivalents and investments, Estimated Fair Value	1,025,829	1,136,920
Unrestricted and restricted cash equivalents and investments, Cost or Amortized Cost	2,529,244	2,808,705
Unrestricted and restricted cash equivalents and investments, Unrealized Gains	220	1,118
Unrestricted and restricted cash equivalents and investments, Unrealized Losses	(903)	(3,763)
Total financial assets	2,528,561	2,806,060
Cash	163,900	126,500
Marketable equity securities		1,100
Cash and cash equivalents and short-term investments	1,700,000	1,800,000
Restricted cash	1,400	1,300
Restricted cash and cash equivalents and restricted short-term investments	1,000,000	1,100,000
Money market funds
Cash Equivalents and Short-Term Investments
Unrestricted cash equivalents and investments, Cost or Amortized Cost	64,750	3,276
Unrestricted cash equivalents and investments, Unrealized Gains	0	0
Unrestricted cash equivalents and investments, Unrealized Losses	0	0
Unrestricted cash equivalents and investments, Estimated Fair Value	64,750	3,276
Restricted cash equivalents and investments, Cost or Amortized Cost	54,698	93,362
Restricted cash equivalents and investments, Unrealized Gains	0	0
Restricted cash equivalents and investments, Unrealized Losses	0	0
Restricted cash equivalents and investments, Estimated Fair Value	54,698	93,362
Money market deposit accounts
Cash Equivalents and Short-Term Investments
Unrestricted cash equivalents and investments, Cost or Amortized Cost	164,864	126,994
Unrestricted cash equivalents and investments, Unrealized Gains	0	0
Unrestricted cash equivalents and investments, Unrealized Losses	0	0
Unrestricted cash equivalents and investments, Estimated Fair Value	164,864	126,994
Term deposits
Cash Equivalents and Short-Term Investments
Unrestricted cash equivalents and investments, Cost or Amortized Cost		5,000
Unrestricted cash equivalents and investments, Unrealized Gains		0
Unrestricted cash equivalents and investments, Unrealized Losses		0
Unrestricted cash equivalents and investments, Estimated Fair Value		5,000
Restricted cash equivalents and investments, Cost or Amortized Cost	3,539	3,539
Restricted cash equivalents and investments, Unrealized Gains	0	0
Restricted cash equivalents and investments, Unrealized Losses	0	0
Restricted cash equivalents and investments, Estimated Fair Value	3,539	3,539
Certificates of deposit
Cash Equivalents and Short-Term Investments
Unrestricted cash equivalents and investments, Cost or Amortized Cost	195,843	502,374
Unrestricted cash equivalents and investments, Unrealized Gains	44	295
Unrestricted cash equivalents and investments, Unrealized Losses	(30)	(510)
Unrestricted cash equivalents and investments, Estimated Fair Value	195,857	502,159
Restricted cash equivalents and investments, Cost or Amortized Cost	168,008	355,241
Restricted cash equivalents and investments, Unrealized Gains	40	174
Restricted cash equivalents and investments, Unrealized Losses	(21)	(437)
Restricted cash equivalents and investments, Estimated Fair Value	168,027	354,978
Commercial paper
Cash Equivalents and Short-Term Investments
Unrestricted cash equivalents and investments, Cost or Amortized Cost	868,305	964,410
Unrestricted cash equivalents and investments, Unrealized Gains	54	403
Unrestricted cash equivalents and investments, Unrealized Losses	(523)	(1,663)
Unrestricted cash equivalents and investments, Estimated Fair Value	867,836	963,150
Restricted cash equivalents and investments, Cost or Amortized Cost	568,911	596,213
Restricted cash equivalents and investments, Unrealized Gains	41	243
Restricted cash equivalents and investments, Unrealized Losses	(260)	(865)
Restricted cash equivalents and investments, Estimated Fair Value	568,692	595,591
Corporate bonds
Cash Equivalents and Short-Term Investments
Unrestricted cash equivalents and investments, Cost or Amortized Cost		61,605
Unrestricted cash equivalents and investments, Unrealized Gains		0
Unrestricted cash equivalents and investments, Unrealized Losses		(104)
Unrestricted cash equivalents and investments, Estimated Fair Value		61,501
Restricted cash equivalents and investments, Cost or Amortized Cost		14,933
Restricted cash equivalents and investments, Unrealized Gains		0
Restricted cash equivalents and investments, Unrealized Losses		(17)
Restricted cash equivalents and investments, Estimated Fair Value		14,916
U.S. government securities
Cash Equivalents and Short-Term Investments
Unrestricted cash equivalents and investments, Cost or Amortized Cost	209,433	7,059
Unrestricted cash equivalents and investments, Unrealized Gains	19	1
Unrestricted cash equivalents and investments, Unrealized Losses	(27)	0
Unrestricted cash equivalents and investments, Estimated Fair Value	209,425	7,060
Restricted cash equivalents and investments, Cost or Amortized Cost	230,893	74,699
Restricted cash equivalents and investments, Unrealized Gains	22	2
Restricted cash equivalents and investments, Unrealized Losses	(42)	(167)
Restricted cash equivalents and investments, Estimated Fair Value	$ 230,873	$ 74,534

Supplemental Financial Statem_4

Supplemental Financial Statement Information - Additional Information (Details) - USD ($)				3 Months Ended	12 Months Ended
	Feb. 08, 2023	Jun. 21, 2022	Apr. 22, 2021	Jun. 30, 2022	Dec. 31, 2021	Sep. 30, 2023
Effects of Reinsurance
Allowance for credit loss on marketable and non-marketable available for sale debt securities						$ 0
Consideration received for commutation of reinsurance agreement, funds withheld for liability		$ 90,300,000
Realized gain from commutation of reinsurance agreement				$ 36,800,000
Decrease in reinsurance recoverable		247,400,000
Reinsurance amortized deferred gains related to losses ceded		105,700,000
Cost of revenue
Effects of Reinsurance
Insurance reserves, loss recognized					$ 20,200,000
General and administrative
Effects of Reinsurance
Insurance reserves, loss recognized					200,000
DARAG Bermuda LTD
Effects of Reinsurance
Liability for future policy benefit, before reinsurance			$ 183,200,000
Reinsurance recoverables			251,300,000
Funds withheld			271,500,000
Funds withheld liability balance included in accrued and other current liabilities			20,200,000
Pacific Valley Insurance Company, Inc. | DARAG Bermuda LTD
Effects of Reinsurance
Transfer of certain legacy auto insurance liabilities			251,300,000
Reinsurance obligations			434,500,000
Unearned premiums			271,500,000
Insurance liability, collateralized amount			$ 75,000,000
Insurance reserves, loss recognized					$ 20,400,000
Consideration received for commutation of reinsurance agreement, assets		89,300,000
Consideration received for commutation of reinsurance agreement, funds withheld for liability		90,300,000
Consideration received for commutation of reinsurance agreement		178,600,000
Reinsurance premium		1,000,000
Pacific Valley Insurance Company, Inc. | DNA Insurance Company
Effects of Reinsurance
Realized gain from commutation of reinsurance agreement	$ 3,400,000
Decrease in reinsurance recoverable	4,000,000
Settlement amount	5,000,000
Proceeds from settlement	4,000,000
Premiums released	1,000,000
Amortization of remaining realized gain	$ 2,400,000
DNA Insurance Company | DARAG Bermuda LTD
Effects of Reinsurance
Liability for future policy benefits before reinsurance		20,000,000
Liability for future policy benefits option to commute, amount		$ 5,000,000

Supplemental Financial Statem_5

Supplemental Financial Statement Information - Schedule of AFS Debt Securities (Details) $ in Thousands	Sep. 30, 2023 USD ($)
Debt Securities, Available-for-sale
Estimated Fair Value	$ 1,054,780
Unrealized Losses	(903)
Certificates of deposit
Debt Securities, Available-for-sale
Estimated Fair Value	123,327
Unrealized Losses	(51)
Commercial paper
Debt Securities, Available-for-sale
Estimated Fair Value	836,310
Unrealized Losses	(783)
U.S. government securities
Debt Securities, Available-for-sale
Estimated Fair Value	95,143
Unrealized Losses	$ (69)

Supplemental Financial Statem_6

Supplemental Financial Statement Information - Accrued and Other Current Liabilities (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Accrued and Other Liabilities
Insurance-related accruals	$ 619,830	$ 566,831
Legal and tax related accruals	307,448	458,209
Ride-related accruals	215,665	181,138
Insurance claims payable and related fees	53,904	53,280
Long-term debt, current	26,442	36,287
Deferred gain related to the Reinsurance Transaction	0	2,357
Other	303,730	263,507
Accrued and other current liabilities	$ 1,527,019	$ 1,561,609

Supplemental Financial Statem_7

Supplemental Financial Statement Information - Schedule of Other Income, Net (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Additional Financial Information Disclosure [Abstract]
Interest income	$ 36,869	$ 12,945	$ 105,429	$ 20,321
Gain (loss) on sale of securities, net	(6)	(28)	(201)	(61)
Foreign currency exchange gains (losses), net	(2,484)	(7,121)	294	(6,436)
Sublease income	1,183	2,555	3,737	10,099
Gain on equity method investment	0	0	12,926	0
Impairment charges	0	(135,714)	0	(135,714)
Other, net	(1,163)	1,208	2,504	(3,648)
Other income (expense), net	$ 34,399	$ (126,155)	$ 124,689	$ (115,439)

Fair Value Measurements - Summa

Fair Value Measurements - Summary of Financial Instruments Measured at Fair Value on Recurring Basis (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Jun. 30, 2023	Dec. 31, 2022	Sep. 30, 2022	Jun. 30, 2022
Liabilities
Contingent consideration	$ 0			$ 15,000
Cash	163,900		$ 126,500
Short-term investments	1,076,089		1,515,702
Cash and cash equivalents and short-term investments	1,700,000		1,800,000
Restricted cash	1,400		1,300
Restricted cash and cash equivalents and restricted short-term investments	1,000,000		1,100,000
PBSC Urban Solutions
Liabilities
Business combination, contingent consideration arrangements, range of outcomes, value, high		$ 15,000			$ 15,000
Fair Value Measurements on a Recurring Basis
Assets
Total unrestricted cash equivalents and short-term investments	1,337,868		1,537,146
Total restricted cash equivalents and investments	1,022,290		1,133,381
Marketable equity securities			1,136
Total financial assets	2,360,158		2,671,663
Liabilities
Contingent consideration			15,000
Total financial liabilities			15,000
Fair Value Measurements on a Recurring Basis | Level 1
Assets
Total unrestricted cash equivalents and short-term investments	64,750		3,276
Total restricted cash equivalents and investments	54,698		93,362
Marketable equity securities			1,136
Total financial assets	119,448		97,774
Liabilities
Contingent consideration			0
Total financial liabilities			0
Fair Value Measurements on a Recurring Basis | Level 2
Assets
Total unrestricted cash equivalents and short-term investments	1,273,118		1,533,870
Total restricted cash equivalents and investments	967,592		1,040,019
Marketable equity securities			0
Total financial assets	2,240,710		2,573,889
Liabilities
Contingent consideration			0
Total financial liabilities			0
Fair Value Measurements on a Recurring Basis | Level 3
Assets
Total unrestricted cash equivalents and short-term investments	0		0
Total restricted cash equivalents and investments	0		0
Marketable equity securities			0
Total financial assets	0		0
Liabilities
Contingent consideration			15,000
Total financial liabilities			15,000
Fair Value Measurements on a Recurring Basis | Money market funds
Assets
Total unrestricted cash equivalents and short-term investments	64,750		3,276
Total restricted cash equivalents and investments	54,698		93,362
Fair Value Measurements on a Recurring Basis | Money market funds | Level 1
Assets
Total unrestricted cash equivalents and short-term investments	64,750		3,276
Total restricted cash equivalents and investments	54,698		93,362
Fair Value Measurements on a Recurring Basis | Money market funds | Level 2
Assets
Total unrestricted cash equivalents and short-term investments	0		0
Total restricted cash equivalents and investments	0		0
Fair Value Measurements on a Recurring Basis | Money market funds | Level 3
Assets
Total unrestricted cash equivalents and short-term investments	0		0
Total restricted cash equivalents and investments	0		0
Fair Value Measurements on a Recurring Basis | Certificates of deposit
Assets
Total unrestricted cash equivalents and short-term investments	195,857		502,159
Total restricted cash equivalents and investments	168,027		354,978
Fair Value Measurements on a Recurring Basis | Certificates of deposit | Level 1
Assets
Total unrestricted cash equivalents and short-term investments	0		0
Total restricted cash equivalents and investments	0		0
Fair Value Measurements on a Recurring Basis | Certificates of deposit | Level 2
Assets
Total unrestricted cash equivalents and short-term investments	195,857		502,159
Total restricted cash equivalents and investments	168,027		354,978
Fair Value Measurements on a Recurring Basis | Certificates of deposit | Level 3
Assets
Total unrestricted cash equivalents and short-term investments	0		0
Total restricted cash equivalents and investments	0		0
Fair Value Measurements on a Recurring Basis | Commercial paper
Assets
Total unrestricted cash equivalents and short-term investments	867,836		963,150
Total restricted cash equivalents and investments	568,692		595,591
Fair Value Measurements on a Recurring Basis | Commercial paper | Level 1
Assets
Total unrestricted cash equivalents and short-term investments	0		0
Total restricted cash equivalents and investments	0		0
Fair Value Measurements on a Recurring Basis | Commercial paper | Level 2
Assets
Total unrestricted cash equivalents and short-term investments	867,836		963,150
Total restricted cash equivalents and investments	568,692		595,591
Fair Value Measurements on a Recurring Basis | Commercial paper | Level 3
Assets
Total unrestricted cash equivalents and short-term investments	0		0
Total restricted cash equivalents and investments	0		0
Fair Value Measurements on a Recurring Basis | Corporate bonds
Assets
Total unrestricted cash equivalents and short-term investments			61,501
Total restricted cash equivalents and investments			14,916
Fair Value Measurements on a Recurring Basis | Corporate bonds | Level 1
Assets
Total unrestricted cash equivalents and short-term investments			0
Total restricted cash equivalents and investments			0
Fair Value Measurements on a Recurring Basis | Corporate bonds | Level 2
Assets
Total unrestricted cash equivalents and short-term investments			61,501
Total restricted cash equivalents and investments			14,916
Fair Value Measurements on a Recurring Basis | Corporate bonds | Level 3
Assets
Total unrestricted cash equivalents and short-term investments			0
Total restricted cash equivalents and investments			0
Fair Value Measurements on a Recurring Basis | U.S. government securities
Assets
Total unrestricted cash equivalents and short-term investments	209,425		7,060
Total restricted cash equivalents and investments	230,873		74,534
Fair Value Measurements on a Recurring Basis | U.S. government securities | Level 1
Assets
Total unrestricted cash equivalents and short-term investments	0		0
Total restricted cash equivalents and investments	0		0
Fair Value Measurements on a Recurring Basis | U.S. government securities | Level 2
Assets
Total unrestricted cash equivalents and short-term investments	209,425		7,060
Total restricted cash equivalents and investments	230,873		74,534
Fair Value Measurements on a Recurring Basis | U.S. government securities | Level 3
Assets
Total unrestricted cash equivalents and short-term investments	0		0
Total restricted cash equivalents and investments	0		0
Fair Value Measurements on Nonrecurring Basis
Liabilities
Restricted cash	1,400		1,300
Fair Value Measurements on Nonrecurring Basis | Cash and Cash Equivalents and Short-Term Investments
Liabilities
Cash	163,900		126,500
Term deposits	3,500		5,000
Fair Value Measurements on Nonrecurring Basis | Cash and Cash Equivalents and Short-Term Investments | Money market funds
Liabilities
Short-term investments	$ 164,900		127,000
Fair Value Measurements on Nonrecurring Basis | Restricted Cash and Cash Equivalents and Restricted Investments
Liabilities
Term deposits			$ 3,500

Fair Value Measurements - Sum_2

Fair Value Measurements - Summary of reconciliation of level 3 financial liabilities (Details) - Level 3 - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation
Balance at beginning of period	$ 15,000	$ 0
Additions	0	14,100
Payments	(15,000)	0
Change in fair value	0	900
Balance at end of period	$ 0	$ 15,000

Fair Value Measurements - Addit

Fair Value Measurements - Additional Information (Details) - USD ($) $ in Millions	1 Months Ended	3 Months Ended
	Feb. 28, 2022	Sep. 30, 2023	Jun. 30, 2022
Financial Instruments Measured at Fair Value on a Recurring Basis
Impairment of non-marketable equity securities		$ 135.7
Investment in non-marketable equity securities	$ 10
Common stock of a publicly-traded entity amount	$ 8.4
Reported Value Measurement | Level 3
Financial Instruments Measured at Fair Value on a Recurring Basis
Equity security			$ 128.1

Fair Value Measurements - Sum_3

Fair Value Measurements - Summary of financial assets measured at fair value on a non-recurring basis (Details) - Fair Value Measurements on Nonrecurring Basis - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation
Balance at beginning of period	$ 5,903	$ 80,411
Additions	0	64,043
Change in fair value	(19)	(138,671)
Balance at end of period	$ 5,884	$ 5,783

Leases - Additional Information

Leases - Additional Information (Details) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023 USD ($) location	Sep. 30, 2022 USD ($)	Sep. 30, 2023 USD ($) location	Sep. 30, 2022 USD ($)
Lessee, Lease, Description
Sublease income | $	$ 1,183	$ 2,555	$ 3,737	$ 10,099
Real Estate Leases
Lessee, Lease, Description
Number of locations | location	63		63
Real Estate Leases | Minimum
Lessee, Lease, Description
Lessee, operating lease, term of contract (in years)	3 months		3 months
Lessee, operating lease, option to extend term (in years)			1 month
Real Estate Leases | Maximum
Lessee, Lease, Description
Lessee, operating lease, term of contract (in years)	7 years		7 years
Lessee, operating lease, option to extend term (in years)			10 years
Vehicles | Minimum
Lessee, Lease, Description
Finance lease term of contract (in years)			2 months
Vehicles | Maximum
Lessee, Lease, Description
Finance lease term of contract (in years)			5 years

Leases - Schedule of Lease Posi

Leases - Schedule of Lease Position (Details) - USD ($) $ in Thousands	3 Months Ended			12 Months Ended
	Jun. 30, 2023	Mar. 31, 2023	Dec. 31, 2022	Dec. 31, 2022	Sep. 30, 2023
Operating Leases
Operating lease right-of-use assets			$ 135,213	$ 135,213	$ 100,479
Operating lease liabilities, current			45,803	45,803	42,330
Operating lease liabilities, non-current			176,356	176,356	141,894
Total operating lease liabilities			222,159	222,159	184,224
Finance Leases
Finance lease right-of-use assets			32,887	32,887	73,173
Finance lease liabilities, current			15,053	15,053	21,866
Finance lease liabilities, non-current			19,921	19,921	54,343
Total finance lease liabilities			$ 34,974	$ 34,974	$ 76,209
Finance lease, liability, current, statement of financial position			Accrued and other current liabilities	Accrued and other current liabilities	Accrued and other current liabilities
Finance lease, liability, noncurrent, statement of financial position			Other liabilities	Other liabilities	Other liabilities
Weighted-average remaining lease term (years)
Operating lease, weighted-average remaining lease term (in years)			5 years 1 month 6 days	5 years 1 month 6 days	4 years 8 months 12 days
Finance lease, weighted-average remaining lease term (in years)			2 years 6 months	2 years 6 months	3 years 7 months 6 days
Weighted-average discount rate
Operating lease, weighted-average discount rate			6.40%	6.40%	6.70%
Finance lease, weighted-average discount rate			5.20%	5.20%	6.40%
Operating lease, impairment loss	$ 2,500	$ 10,500	$ 55,300	$ 55,300

Leases - Schedule of Lease Cost

Leases - Schedule of Lease Costs (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Operating Leases
Operating lease cost	$ 9,587	$ 16,916	$ 31,076	$ 52,078
Finance Leases
Amortization of right-of-use assets	5,395	3,828	14,017	11,589
Interest on lease liabilities	1,082	261	2,143	676
Other Lease Costs
Short-term lease cost	920	1,191	2,866	4,176
Variable lease cost	2,575	3,796	7,665	12,790
Total lease cost	$ 19,559	$ 25,992	$ 57,767	$ 81,309

Leases - Schedule of Supplement

Leases - Schedule of Supplemental Cash Flow Information (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows from operating leases	$ 44,579	$ 58,005
Operating cash flows from finance leases	2,284	689
Financing cash flows from finance leases	$ 35,935	$ 21,706

Leases - Schedule of Operating

Leases - Schedule of Operating and Finance Lease Liabilities (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Operating Leases
Remainder of 2023	$ 9,581
2024	57,310
2025	46,029
2026	32,417
2027	27,532
Thereafter	43,455
Total minimum lease payments	216,324
Less: amount of lease payments representing interest	(32,100)
Total operating lease liabilities	184,224	$ 222,159
Less: current obligations under leases	(42,330)	(45,803)
Long-term lease obligations	141,894	176,356
Finance Leases
Remainder of 2023	14,120
2024	23,293
2025	19,933
2026	11,430
2027	8,166
Thereafter	8,274
Total minimum lease payments	85,216
Less: amount of lease payments representing interest	(9,007)
Total finance lease liabilities	76,209	34,974
Less: current obligations under leases	(21,866)	(15,053)
Long-term lease obligations	54,343	$ 19,921
Total Leases
Remainder of 2023	23,701
2024	80,603
2025	65,962
2026	43,847
2027	35,698
Thereafter	51,729
Total minimum lease payments	301,540
Less: amount of lease payments representing interest	(41,107)
Present value of future lease payments	260,433
Less: current obligations under leases	(64,196)
Long-term lease obligations	$ 196,237

Commitment and Contingencies (D

Commitment and Contingencies (Details) - USD ($)		3 Months Ended
	Apr. 30, 2023	Sep. 30, 2023	Dec. 31, 2022	Feb. 28, 2022	May 31, 2019
Commitments And Contingencies
Letters of credit outstanding		$ 60,700,000	$ 55,100,000
Amount awarded and paid to third party		10,000,000
Web-Hosting Service Providers
Commitments And Contingencies
Cumulative payment for arrangement		196,800,000
Web-Hosting Service Providers | Minimum
Commitments And Contingencies
Contractual obligation				$ 350,000,000
Minimum amount due in next year				80,000,000
Minimum amount due in second year				80,000,000
Minimum amount due in third year				80,000,000
Minimum amount due in fourth year				$ 80,000,000
Bikeshare Program | City Of Chicago
Commitments And Contingencies
Annual contractual obligation					$ 7,500,000
Future obligation to purchase equipment	$ 12,000,000				$ 50,000,000
Reduction in company's obligation	$ 12,000,000
Accumulated payments for amended arrangements		30,000,000
Payments to acquire equipment under purchase obligations		$ 42,800,000

Debt - Schedule of Outstanding

Debt - Schedule of Outstanding Debt Obligations (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022	Jan. 01, 2022
Debt Instrument
Total long-term debt outstanding	$ 860,258	$ 839,494
Less: long-term debt maturing within one year	26,442	36,287
Total long-term debt	$ 833,816	803,207
Convertible senior notes
Debt Instrument
Interest rate (as a percent)	1.50%
Total long-term debt outstanding	$ 742,733	740,609
Convertible senior notes | Cumulative Effect, Period of Adoption, Adjustment
Debt Instrument
Total long-term debt outstanding			$ 133,500
Non-revolving Loan
Debt Instrument
Total long-term debt outstanding	$ 5,152	24,429
Non-revolving Loan | Minimum
Debt Instrument
Interest rate (as a percent)	2.88%
Non-revolving Loan | Maximum
Debt Instrument
Interest rate (as a percent)	2.92%
Master Vehicle Loan
Debt Instrument
Total long-term debt outstanding	$ 112,373	$ 74,456
Master Vehicle Loan | Minimum
Debt Instrument
Interest rate (as a percent)	2.60%
Master Vehicle Loan | Maximum
Debt Instrument
Interest rate (as a percent)	7.10%

Debt - Schedule of Interest Exp

Debt - Schedule of Interest Expense (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Debt Instrument
Amortization of debt discount and issuance costs			$ 2,124	$ 2,083
Interest expense	$ 6,209	$ 5,022	17,793	14,531
Convertible Senior Notes Due 2025 | Convertible Debt
Debt Instrument
Contractual interest expense related to the 2025 Notes	2,803	2,803	8,409	8,409
Amortization of debt discount and issuance costs	908	736	2,598	2,083
Master Vehicle Loan
Debt Instrument
Interest expense related to vehicle loans	$ 2,498	$ 1,483	$ 6,786	$ 4,039

Debt - Additional Information (

Debt - Additional Information (Details)

9 Months Ended

Nov. 03, 2022 USD ($)

May 15, 2020 USD ($) day $ / shares

Feb. 07, 2020 USD ($)

Sep. 30, 2023 USD ($)

Sep. 30, 2022 USD ($)

Dec. 31, 2024

Dec. 31, 2023

Sep. 20, 2023 USD ($)

Dec. 31, 2022 USD ($)

Jan. 01, 2022 USD ($)

Sep. 17, 2020 USD ($)

May 12, 2020 $ / shares

Mar. 11, 2019 USD ($)

Debt Instrument

Share price (in dollars per share) | $ / shares

$ 29.53

Long term debt outstanding

$ 860,258,000

$ 839,494,000

Decrease to additional paid-in capital

(10,732,214,000)

(10,335,013,000)

Accumulated deficit

(10,254,606,000)

(9,940,595,000)

Net carrying amount of liability component

860,258,000

839,494,000

Repayments of debt

60,519,000

$ 51,961,000

Covenant minimum liquidity requirements

$ 1,500,000,000

Acquisition cash consideration trigger, percent

350%

Acquisition cash consideration trigger

$ 75,000,000

Fixed coverage ratio

125%

Other financing outstanding amount

5,200,000

Adjustment

Debt Instrument

Decrease to additional paid-in capital

$ 140,000,000

Accumulated deficit

6,500,000

Scenario, Forecast

Debt Instrument

Senior secured leverage ratio

3

3.50

Revolving Credit Facility | JPMorgan Chase Bank

Debt Instrument

Maximum borrowing capacity

$ 420,000,000

Line of Credit | Revolving Credit Facility | JPMorgan Chase Bank

Debt Instrument

Maximum borrowing capacity

168,000,000

Proceeds from lines of credit

$ 53,500,000

Federal Funds Rate | Revolving Credit Facility | JPMorgan Chase Bank

Debt Instrument

Spread on variable rate (as a percent)

0.50%

SOFR | Revolving Credit Facility | JPMorgan Chase Bank

Debt Instrument

Spread on variable rate (as a percent)

1%

Minimum | Revolving Credit Facility | JPMorgan Chase Bank

Debt Instrument

Covenant leverage ratio

1.50%

Leverage ratio during the period

0.05%

Commitment fee

0.225%

Maximum | Revolving Credit Facility | JPMorgan Chase Bank

Debt Instrument

Covenant leverage ratio

2.25%

Leverage ratio during the period

1.25%

Commitment fee

0.375%

Flexdrive Services, LLC | Revolving Credit Facility

Debt Instrument

Maximum exposure to loss under terms of the guarantee

30,700,000

Procurement Provider | Revolving Credit Facility

Debt Instrument

Maximum borrowing capacity

$ 50,000,000

$ 95,000,000

Maximum exposure to loss under terms of the guarantee

$ 15,800,000

Convertible Senior Notes Due 2025

Debt Instrument

Interest rate (as a percent)

1.50%

Long term debt outstanding

$ 742,733,000

740,609,000

Net carrying amount of liability component

742,733,000

740,609,000

Convertible Senior Notes Due 2025 | Convertible Debt

Debt Instrument

Aggregate principal

$ 747,500,000

Interest rate (as a percent)

1.50%

Net proceeds from issuance of convertible debt

$ 733,200,000

Conversation rate (as a percent)

0.0260491

Initial conversion price (in dollars per share) | $ / shares

$ 38.39

Limitation on sale of common stock, sale price threshold, number of trading days | day

20

Number of consecutive business days

5 days

Redemption price percentage (as a percent)

100%

Long term debt outstanding

$ 558,300,000

742,733,000

740,609,000

Carrying value of equity component

$ 189,200,000

Effective interest rate (as a percent)

8%

Debt and equity components of convertible loans, discounts and commissions payable

$ 14,300,000

Unamortized debt discount and debt issuance cost

4,765,000

6,889,000

Fair value of debt

205,200,000

Fair value of long-term debt

688,200,000

Cost of capped call transactions

$ 132,700,000

Initial cap price (in dollars per share) | $ / shares

$ 73.83

Initial cap price premium percentage (as a percent)

150%

Net carrying amount of liability component

$ 558,300,000

742,733,000

740,609,000

Convertible Senior Notes Due 2025 | Convertible Debt | Adjustment

Debt Instrument

Aggregate principal

$ 133,500,000

Convertible Senior Notes Due 2025 | Convertible Debt | Revolving Credit Facility | JPMorgan Chase Bank

Debt Instrument

Outstanding debt trigger amount

$ 1,250,000,000

Convertible Senior Notes Due 2025 | Convertible Debt | Debt Instrument, Redemption, Period One

Debt Instrument

Limitation on sale of common stock, sale price threshold, trading period | day

30

Threshold percentage of stock price trigger (as a percent)

130%

Convertible Senior Notes Due 2025 | Convertible Debt | Debt Instrument, Redemption, Period Two

Debt Instrument

Limitation on sale of common stock, sale price threshold, trading period | day

5

Threshold percentage of stock price trigger (as a percent)

98%

Non-revolving Loan

Debt Instrument

Long term debt outstanding

5,152,000

24,429,000

Fair value of long-term debt

5,200,000

Maximum borrowing capacity

$ 50,000,000

Net carrying amount of liability component

5,152,000

24,429,000

Line of credit remaining borrowing capacity

$ 44,800,000

Non-revolving Loan | Two Year Treasury Yield | Period One

Debt Instrument

Debt term

24 months

Spread on variable rate (as a percent)

3.40%

Non-revolving Loan | Three Treasury Yield | Period Two

Debt Instrument

Debt term

36 months

Spread on variable rate (as a percent)

3.40%

Non-revolving Loan | Three To Five Year Treasury Yield | Period Three

Debt Instrument

Spread on variable rate (as a percent)

3.40%

Non-revolving Loan | Minimum

Debt Instrument

Interest rate (as a percent)

2.88%

Debt term

24 months

Non-revolving Loan | Maximum

Debt Instrument

Interest rate (as a percent)

2.92%

Debt term

48 months

Non-revolving Loan | Flexdrive Services, LLC

Debt Instrument

Maximum borrowing capacity

$ 130,000,000

Master Vehicle Loan

Debt Instrument

Long term debt outstanding

$ 112,373,000

74,456,000

Fair value of long-term debt

113,300,000

Net carrying amount of liability component

$ 112,373,000

$ 74,456,000

Interest rate swap term

3 years

Variable interest spread rate (as a percent)

2.10%

Master Vehicle Loan | Minimum

Debt Instrument

Interest rate (as a percent)

2.60%

Debt term

12 months

Master Vehicle Loan | Maximum

Debt Instrument

Interest rate (as a percent)

7.10%

Debt term

48 months

Master Vehicle Loan | Flexdrive Services, LLC

Debt Instrument

Maximum borrowing capacity

$ 50,000,000

Term Loan | Revolving Credit Facility | JPMorgan Chase Bank

Debt Instrument

Maximum borrowing capacity

$ 300,000,000

Senior secured leverage ratio

2.50

Debt - Schedule of Convertible

Debt - Schedule of Convertible Notes (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022	Jan. 01, 2022	May 15, 2020
Liability component:
Total long-term debt outstanding	$ 860,258	$ 839,494
Convertible Senior Notes Due 2025
Liability component:
Total long-term debt outstanding	742,733	740,609
Convertible Senior Notes Due 2025 | Cumulative Effect, Period of Adoption, Adjustment
Liability component:
Total long-term debt outstanding			$ 133,500
Convertible Debt | Convertible Senior Notes Due 2025
Liability component:
Principal	747,498	747,498
Unamortized debt discount and debt issuance costs	(4,765)	(6,889)
Total long-term debt outstanding	$ 742,733	$ 740,609		$ 558,300

Debt - Schedule of Maturities o

Debt - Schedule of Maturities of Long-term Debt Outstanding (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Long-term Debt, Fiscal Year Maturity
Remainder of 2023	$ 8,338
2024	23,536
2025	780,936
2026	47,448
2027	0
Thereafter	0
Total long-term debt outstanding	$ 860,258	$ 839,494

Common Stock - Schedule of Rest

Common Stock - Schedule of Restricted Stock Units (Details) - Restricted stock units $ / shares in Units, shares in Thousands, $ in Thousands	9 Months Ended
	Sep. 30, 2023 USD ($) $ / shares shares
Number of Shares
Nonvested units at beginning of period (in shares) | shares	22,315
Granted (in shares) | shares	42,879
Vested (in shares) | shares	(22,092)
Canceled (in shares) | shares	(7,282)
Nonvested units at end of period (in shares) | shares	35,820
Weighted- Average Grant Date Fair Value
Nonvested units at beginning of period (in dollars per share) | $ / shares	$ 28.15
Granted (in dollars per share) | $ / shares	8.91
Vested (in dollars per share) | $ / shares	20.75
Canceled (in dollars per share) | $ / shares	26.56
Nonvested units at end of period (in dollars per share) | $ / shares	$ 9.84
Aggregate Intrinsic Value
Nonvested units, at beginning aggregate intrinsic value | $	$ 244,926
Nonvested units, at ending aggregate intrinsic value | $	$ 376,578

Common Stock - Additional Infor

Common Stock - Additional Information (Details) - USD ($) $ in Thousands			1 Months Ended	9 Months Ended
	Jan. 01, 2023	Jan. 01, 2020	Mar. 31, 2019	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022	Jul. 26, 2021	Mar. 27, 2019
Share-based Compensation Arrangement by Share-based Payment Award
Withholding tax adjustment				$ 2,208	$ 5,602
2019 Employee Stock Purchase Plan
Share-based Compensation Arrangement by Share-based Payment Award
Percentage of earnings for purchase of common stock (as a percent)							15%
Offering periods (in months)			12 months
2019 Employee Stock Purchase Plan | Class A Common Stock
Share-based Compensation Arrangement by Share-based Payment Award
Common stock reserved for issuance (in shares)						9,712,710		6,000,000
Additional common stock reserved for issuance (in shares)	3,701,549
Cumulative common shares purchased (in shares)				4,570,725
Increase in number of shares reserved for future issuance (in shares)		7,000,000
Percentage of common stock outstanding (as a percent)		1%
Performance based restricted stock units
Share-based Compensation Arrangement by Share-based Payment Award
Granted (in shares)				14,196,732
Restricted stock units
Share-based Compensation Arrangement by Share-based Payment Award
Granted (in shares)				42,879,000
Vested in period, fair value				$ 224,900	$ 354,200
Shares withheld related to net share settlement (in shares)				219,166
Withholding tax adjustment				$ 2,200
Aggregate unrecognized compensation cost				$ 296,500
Aggregate grant-date fair value, weighted average period				1 year 3 months 18 days

Income Tax (Details)

Income Tax (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022
Income Tax Disclosure [Abstract]
Income tax expense (benefit)	$ 111,000	$ 648,000	$ 5,454,000	$ 3,515,000
Effective tax rate	(0.92%)	(0.15%)	(1.77%)	(0.35%)
Unrecognized tax benefits	$ 0		$ 0		$ 0

Net Loss Per Share - Computatio

Net Loss Per Share - Computation of Basic and Diluted Net Loss Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended						9 Months Ended
	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Sep. 30, 2023	Sep. 30, 2022
Earnings Per Share [Abstract]
Net loss	$ (12,100)	$ (114,262)	$ (187,649)	$ (422,201)	$ (377,246)	$ (196,932)	$ (314,011)	$ (996,379)
Weighted-average number of shares outstanding used to compute net loss per share, basic (in shares)	389,307			356,478			381,697	351,224
Weighted-average number of shares outstanding used to compute net loss per share, diluted (in shares)	389,307			356,478			381,697	351,224
Net loss per share, basic (in dollars per share)	$ (0.03)			$ (1.18)			$ (0.82)	$ (2.84)
Net loss per share, diluted (in dollars per share)	$ (0.03)			$ (1.18)			$ (0.82)	$ (2.84)

Net Loss Per Share - Schedule o

Net Loss Per Share - Schedule of Outstanding Shares of Common Stock Equivalents Excluded from Computation of Diluted Net Loss Per Share (Details) - shares shares in Thousands	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Antidilutive Securities Excluded from Computation of Earnings Per Share
Antidilutive securities excluded from computation of earnings per share, total (in shares)	56,466	51,122
Restricted stock units
Antidilutive Securities Excluded from Computation of Earnings Per Share
Antidilutive securities excluded from computation of earnings per share, total (in shares)	21,520	28,014
2025 Notes
Antidilutive Securities Excluded from Computation of Earnings Per Share
Antidilutive securities excluded from computation of earnings per share, total (in shares)	19,471	19,471
Performance based restricted stock units
Antidilutive Securities Excluded from Computation of Earnings Per Share
Antidilutive securities excluded from computation of earnings per share, total (in shares)	14,300	1,773
Stock options
Antidilutive Securities Excluded from Computation of Earnings Per Share
Antidilutive securities excluded from computation of earnings per share, total (in shares)	790	994
ESPP
Antidilutive Securities Excluded from Computation of Earnings Per Share
Antidilutive securities excluded from computation of earnings per share, total (in shares)	385	870

Restructuring - Additional Info

Restructuring - Additional Information (Details) $ in Millions	1 Months Ended	3 Months Ended			12 Months Ended
	Apr. 30, 2023 employee	Jun. 30, 2023 USD ($)	Mar. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)	Dec. 31, 2022 USD ($)	Sep. 30, 2023 USD ($)
Restructuring Cost and Reserve
Restructuring charges (benefits)		$ 63.3	$ 24.4		$ 120.3
Impairment charges		6.3
Operating lease, impairment loss		2.5	10.5	$ 55.3	55.3
Accelerated depreciation					23.9
Restructuring related liabilities				1.6	1.6	$ 1.1
Severance and Other Employee Costs
Restructuring Cost and Reserve
Number of employees terminated (employee) | employee	1,072
Employee reduction percentage (as a percent)	26%
Restructuring charges (benefits)		47.2		29.5
Stock-Based Compensation
Restructuring Cost and Reserve
Restructuring charges (benefits)		$ 9.7		$ 9.5
Fixed Assets Not Yet Placed Into Service
Restructuring Cost and Reserve
Restructuring charges (benefits)					$ 2.1
Lease Termination
Restructuring Cost and Reserve
Restructuring charges (benefits)			$ 9.1

Restructuring - Schedule of res

Restructuring - Schedule of restructuring related charges (benefits) (Details) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Jun. 30, 2023	Mar. 31, 2023	Dec. 31, 2022
Restructuring Cost and Reserve
Restructuring charges (benefits)	$ 63,298	$ 24,443	$ 120,256
Stock-Based Compensation
Restructuring Cost and Reserve
Restructuring charges (benefits)	9,723	205	9,509
Severance and Other Employee Costs
Restructuring Cost and Reserve
Restructuring charges (benefits)	47,238	4,326	29,475
Right-of-Use Asset Impairments and Other Costs
Restructuring Cost and Reserve
Restructuring charges (benefits)	5,668	19,591	57,364
Accelerated Depreciation
Restructuring Cost and Reserve
Restructuring charges (benefits)	669	321	23,908
Cost of revenue
Restructuring Cost and Reserve
Restructuring charges (benefits)	3,871	1,101	1,794
Cost of revenue | Stock-Based Compensation
Restructuring Cost and Reserve
Restructuring charges (benefits)	667	0	182
Cost of revenue | Severance and Other Employee Costs
Restructuring Cost and Reserve
Restructuring charges (benefits)	3,204	1,101	1,612
Cost of revenue | Right-of-Use Asset Impairments and Other Costs
Restructuring Cost and Reserve
Restructuring charges (benefits)	0	0	0
Cost of revenue | Accelerated Depreciation
Restructuring Cost and Reserve
Restructuring charges (benefits)	0	0	0
Operations and support
Restructuring Cost and Reserve
Restructuring charges (benefits)	9,250	13,090	18,673
Operations and support | Stock-Based Compensation
Restructuring Cost and Reserve
Restructuring charges (benefits)	259	205	(31)
Operations and support | Severance and Other Employee Costs
Restructuring Cost and Reserve
Restructuring charges (benefits)	3,054	3,127	5,173
Operations and support | Right-of-Use Asset Impairments and Other Costs
Restructuring Cost and Reserve
Restructuring charges (benefits)	5,268	9,453	4,851
Operations and support | Accelerated Depreciation
Restructuring Cost and Reserve
Restructuring charges (benefits)	669	305	8,680
Research and development
Restructuring Cost and Reserve
Restructuring charges (benefits)	25,793	2,554	28,953
Research and development | Stock-Based Compensation
Restructuring Cost and Reserve
Restructuring charges (benefits)	4,539	0	3,818
Research and development | Severance and Other Employee Costs
Restructuring Cost and Reserve
Restructuring charges (benefits)	21,254	20	9,706
Research and development | Right-of-Use Asset Impairments and Other Costs
Restructuring Cost and Reserve
Restructuring charges (benefits)	0	2,534	15,393
Research and development | Accelerated Depreciation
Restructuring Cost and Reserve
Restructuring charges (benefits)	0	0	36
Sales and marketing
Restructuring Cost and Reserve
Restructuring charges (benefits)	6,236	14	3,581
Sales and marketing | Stock-Based Compensation
Restructuring Cost and Reserve
Restructuring charges (benefits)	1,045	0	458
Sales and marketing | Severance and Other Employee Costs
Restructuring Cost and Reserve
Restructuring charges (benefits)	5,191	14	3,123
Sales and marketing | Right-of-Use Asset Impairments and Other Costs
Restructuring Cost and Reserve
Restructuring charges (benefits)	0	0	0
Sales and marketing | Accelerated Depreciation
Restructuring Cost and Reserve
Restructuring charges (benefits)	0	0	0
General and administrative
Restructuring Cost and Reserve
Restructuring charges (benefits)	18,148	7,684	67,255
General and administrative | Stock-Based Compensation
Restructuring Cost and Reserve
Restructuring charges (benefits)	3,213	0	5,082
General and administrative | Severance and Other Employee Costs
Restructuring Cost and Reserve
Restructuring charges (benefits)	14,535	64	9,861
General and administrative | Right-of-Use Asset Impairments and Other Costs
Restructuring Cost and Reserve
Restructuring charges (benefits)	400	7,604	37,120
General and administrative | Accelerated Depreciation
Restructuring Cost and Reserve
Restructuring charges (benefits)	$ 0	$ 16	$ 15,192

Variable Interest Entities (Det

Variable Interest Entities (Details) - USD ($) $ in Thousands	Jun. 30, 2023	May 17, 2022
Variable Interest Entity, Not Primary Beneficiary
Noncontrolling Interest
Variable interest entity, reporting entity involvement, maximum loss exposure, amount	$ 12,900
PBSC Urban Solutions
Noncontrolling Interest
Other investments		$ 22,175
Several Joint Ventures
Noncontrolling Interest
Noncontrolling interest, ownership percentage		80%

Uncategorized Items - lyft-2023

Label	Element	Value
Cumulative Effect, Period of Adoption, Adjustment [Member]
Accounting Standards Update [Extensible Enumeration]	us-gaap_AccountingStandardsUpdateExtensibleList	Accounting Standards Update 2020-06 [Member]