v3.19.3

Select Historical Segment Financial Change | 9 Months Ended
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Sep. 30, 2019
Segment Reporting [Abstract] |
Segment Change | Note 14 - Segment Information and Geographic Information The Company determined its operating segments based on how the CODM manages the business, allocates resources, makes operating decisions and evaluates operating performance. During the third quarter of 2019, following a number of leadership and organizational changes, the CODM changed how he assesses performance and allocates resources to a more disaggregated level in order to optimize utilization of the Company’s platform as well as manage research and development of new technologies. Based on this change, in the third quarter of 2019, the Company determined it has five operating and reportable segments and revised prior comparative periods to conform to the current period segment presentation. The Company’s five segments are as follows:
Segment |  | Description
Rides |  | The Rides products connect consumers with Drivers who provide rides in a variety of vehicles, such as cars, auto rickshaws, motorbikes, minibuses, or taxis. Rides also includes activity related to our Uber for Business ("U4B"), Financial Partnerships, and Vehicle Solutions offerings.
Eats |  | The Eats offering allows consumers to search for and discover local restaurants, order a meal, and either pick-up at the restaurant or have the meal delivered.
Freight |  | Freight connects carriers with shippers on the Company’s platform, and gives carriers upfront, transparent pricing and the ability to book a shipment.
Other Bets |  | The Other Bets segment consists of multiple investment stage offerings. The largest investment within the segment is the Company’s New Mobility offering that refers to products that provide consumers with access to rides through a variety of modes, including dockless e-bikes and e-scooters. It also includes Transit, UberWorks and the Company’s Incubator group.
ATG and Other Technology Programs |  | The ATG and Other Technology Programs segment is responsible for the development and commercialization of autonomous vehicle and ridesharing technologies, as well as Uber Elevate.
For information about how the Company’s reportable segments derive revenue, refer to Note 2 - Revenue. The Company’s segment operating performance measure is segment adjusted EBITDA. The CODM does not evaluate operating segments using asset information and, accordingly, the Company does not report asset information by segment. The Company’s segment adjusted EBITDA measures replace what was previously reported as contribution profit (loss) and maintain the same definition. Previously reported Core Platform contribution profit (loss) is the sum of Rides adjusted EBITDA and Eats adjusted EBITDA, and previously reported Other Bets contribution profit (loss) is the sum of Freight adjusted EBITDA and Other Bets adjusted EBITDA. Segment adjusted EBITDA is defined as revenue less the following expenses: cost of revenue, operations and support, sales and marketing, and general and administrative and research and development expenses associated with the Company’s segments. Segment adjusted EBITDA also excludes any non-cash items or items that management does not believe are reflective of the Company’s ongoing core operations (as shown in the table below). The following table provides information about the Company’s segments and a reconciliation of the total segment adjusted EBITDA to loss from operations (in millions):
|  | Three Months Ended September 30, |  | Nine Months Ended September 30,
|  | 2018 |  | 2019 |  | 2018 |  | 2019
Segment adjusted EBITDA: |  |  |  |  |  |  |  |
Rides |  | $ | 416 |  |  | $ | 631 |  |  | $ | 1,346 |  |  | $ | 1,329 |
Eats |  | (189 | ) |  | (316 | ) |  | (323 | ) |  | (911 | )
Freight |  | (31 | ) |  | (81 | ) |  | (79 | ) |  | (162 | )
Other Bets |  | (12 | ) |  | (72 | ) |  | (12 | ) |  | (184 | )
ATG and Other Technology Programs |  | (132 | ) |  | (124 | ) |  | (432 | ) |  | (369 | )
Total segment adjusted EBITDA |  | 52 |  |  | 38 |  |  | 500 |  |  | (297 | )
Reconciling items: |  |  |  |  |  |  |  |
Corporate G&A and Platform R&D (1), (2) |  | (501 | ) |  | (623 | ) |  | (1,403 | ) |  | (1,813 | )
Depreciation and amortization |  | (131 | ) |  | (102 | ) |  | (317 | ) |  | (371 | )
Stock-based compensation expense |  | (64 | ) |  | (401 | ) |  | (147 | ) |  | (4,353 | )
Legal, tax, and regulatory reserve changes and settlements |  | (56 | ) |  | 27 |  |  | (308 | ) |  | (353 | )
Driver appreciation award |  | — |  |  | — |  |  | — |  |  | (299 | )
Payroll tax on IPO stock-based compensation |  | — |  |  | — |  |  | — |  |  | (86 | )
Asset impairment/loss on sale of assets |  | (54 | ) |  | — |  |  | (167 | ) |  | (8 | )
Acquisition and financing related expenses |  | — |  |  | — |  |  | (15 | ) |  | — |
Gain on restructuring of lease arrangement |  | — |  |  | — |  |  | 4 |  |  | — |
Impact of 2018 Divested Operations (1), (3) |  | (9 | ) |  | — |  |  | (127 | ) |  | — |
Restructuring charges |  | — |  |  | (45 | ) |  | — |  |  | (45 | )
Loss from operations |  | $ | (763 | ) |  | $ | (1,106 | ) |  | $ | (1,980 | ) |  | $ | (7,625 | )
(1) Excluding stock-based compensation expense. (2) Includes costs that are not directly attributable to the Company’s reportable segments. Corporate G&A also includes certain shared costs such as finance, accounting, tax, human resources, information technology and legal costs. Platform R&D also includes mapping and payment technologies and support and development of the internal technology infrastructure. The Company’s allocation methodology is periodically evaluated and may change. (3) Defined as the Company’s 2018 operations in (i) Southeast Asia prior to the sale of those operations to Grab and (ii) Russia/CIS prior to the formation of the Company’s Yandex.Taxi joint venture. Geographic Information Revenue by geography is based on where the trip or shipment was completed or meal delivered. The following table sets forth revenue by geographic area for the three and nine months ended September 30, 2018 and 2019 (in millions):
|  | Three Months Ended September 30, |  | Nine Months Ended September 30,
|  | 2018 |  | 2019 |  | 2018 |  | 2019
United States |  | $ | 1,621 |  |  | $ | 2,250 |  |  | $ | 4,420 |  |  | $ | 5,866 |
Brazil |  | 240 |  |  | 252 |  |  | 797 |  |  | 649 |
All other countries |  | 1,083 |  |  | 1,311 |  |  | 3,079 |  |  | 3,563 |
Total revenue |  | $ | 2,944 |  |  | $ | 3,813 |  |  | $ | 8,296 |  |  | $ | 10,078 |
Revenue grouped by offerings is included in Note 2 - Revenue.

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI http://asc.fasb.org/topic&trid=2134510 + Details
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