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Net Income (Loss) Per Share | 6 Months Ended
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Jun. 30, 2021
Earnings Per Share [Abstract] |
Net Income (Loss) Per Share | Note 10 – Net Income (Loss) Per Share Basic net income (loss) per share is computed by dividing net income (loss) by the weighted-average number of common shares outstanding for the periods presented. Diluted net income (loss) per share is computed by giving effect to all potential weighted average dilutive common stock. The dilutive effect of outstanding awards and convertible securities is reflected in diluted net income (loss) per share by application of the treasury stock method. Since we were in a loss position for the three and six months ended June 30, 2020, basic net loss per share was the same as diluted net loss per share for the periods presented. We take into account the effect on consolidated net income (loss) per share of dilutive securities of entities in which we hold equity interests that are accounted for using the equity method. The following table sets forth the computation of basic and diluted net income (loss) per share attributable to common stockholders (in millions, except share amounts which are reflected in thousands, and per share amounts):
|  | Three Months Ended June 30, |  | Six Months Ended June 30,
|  | 2020 |  | 2021 |  | 2020 |  | 2021
Basic net income (loss) per share: |  |  |  |  |  |  |  |
Numerator |  |  |  |  |  |  |  |
Net income (loss) including non-controlling interests |  | $ | (1,772) |  |  | $ | 1,112 |  |  | $ | (4,718) |  |  | $ | 990 |
Net income (loss) attributable to non-controlling interests, net of tax |  | 3 |  |  | (32) |  |  | (7) |  |  | (46) |
Net income (loss) attributable to common stockholders |  | $ | (1,775) |  |  | $ | 1,144 |  |  | $ | (4,711) |  |  | $ | 1,036 |
Denominator |  |  |  |  |  |  |  |
Basic weighted-average common stock outstanding |  | 1,738,897 |  |  | 1,875,156 |  |  | 1,731,632 |  |  | 1,866,830 |
Basic net income (loss) per share attributable to common stockholders (1) |  | $ | (1.02) |  |  | $ | 0.61 |  |  | $ | (2.72) |  |  | $ | 0.56 |
Diluted net income (loss) per share: |  |  |  |  |  |  |  |
Numerator |  |  |  |  |  |  |  |
Net income (loss) attributable to common stockholders |  | $ | (1,775) |  |  | $ | 1,144 |  |  | $ | (4,711) |  |  | $ | 1,036 |
Net loss attributable to Freight Holding convertible common shares non-controlling interest, net of tax |  | — |  |  | (10) |  |  | — |  |  | (18) |
Cumulative dividends to Freight Holding convertible preferred shares non-controlling interest, net of tax |  | — |  |  | 3 |  |  | — |  |  | — |
Interest expense, amortization of debt discount and issuance costs of 2025 Convertible Notes and Careem Notes |  | — |  |  | 3 |  |  | — |  |  | 5 |
Diluted net income (loss) attributable to common stockholders |  | $ | (1,775) |  |  | $ | 1,140 |  |  | $ | (4,711) |  |  | $ | 1,023 |
Denominator |  |  |  |  |  |  |  |
Number of shares used in basic net income (loss) per share computation |  | 1,738,897 |  |  | 1,875,156 |  |  | 1,731,632 |  |  | 1,866,830 |
Weighted-average effect of potentially dilutive securities: |  |  |  |  |  |  |  |
Stock options |  | — |  |  | 17,785 |  |  | — |  |  | 18,808 |
RSUs |  | — |  |  | 31,485 |  |  | — |  |  | 36,651 |
Warrants |  | — |  |  | 87 |  |  | — |  |  | 88 |
Common shares issued for ESPP |  | — |  |  | 160 |  |  | — |  |  | 192 |
Assumed incremental shares to settle forward obligation for Freight Holding Series A unit holders |  | — |  |  | 1,900 |  |  | — |  |  | 2,281 |
Assumed redemption of Freight Holding common shares, non-controlling interest |  | — |  |  | 1,268 |  |  | — |  |  | 1,306 |
Assumed redemption of Freight Holding preferred shares, non-controlling interest |  | — |  |  | 6,891 |  |  | — |  |  | — |
2025 Convertible Notes |  | — |  |  | 14,226 |  |  | — |  |  | 14,226 |
Careem Notes |  | — |  |  | 7,017 |  |  | — |  |  | 9,368 |
Diluted weighted-average common stock outstanding |  | 1,738,897 |  |  | 1,955,975 |  |  | 1,731,632 |  |  | 1,949,750 |
Diluted net income (loss) per share attributable to common stockholders (1) |  | $ | (1.02) |  |  | $ | 0.58 |  |  | $ | (2.72) |  |  | $ | 0.52 |
(1) Per share amounts are calculated using unrounded numbers and therefore may not recalculate. Effective January 1, 2021, we early adopted ASU 2020-06 using the modified retrospective approach. Upon adoption, we use the if-converted method and presume share settlement for our 2025 Convertible Notes and our non-interest bearing unsecured convertible notes related to the acquisition of Careem (“Careem Notes”) when calculating the dilutive effect of these notes. The following potentially dilutive outstanding securities were excluded from the computation of diluted net income (loss) per share because their effect would have been anti-dilutive for the periods presented, or issuance of such shares is contingent upon the satisfaction of certain conditions which were not satisfied by the end of the period (in thousands):
|  | Three Months Ended June 30, |  | Six Months Ended June 30,
|  | 2020 |  | 2021 |  | 2020 |  | 2021
Freight Holding contingently redeemable preferred stock |  | — |  |  | — |  |  | — |  |  | 7,743 |
RSUs |  | 96,455 |  |  | 18,594 |  |  | 96,455 |  |  | 17,230 |
Stock options |  | 27,086 |  |  | 249 |  |  | 27,086 |  |  | 15 |
Common stock subject to repurchase |  | 28 |  |  | — |  |  | 28 |  |  | — |
RSUs to settle fixed monetary awards |  | 175 |  |  | — |  |  | 175 |  |  | — |
Shares committed under ESPP |  | 2,441 |  |  | 2,719 |  |  | 2,441 |  |  | 2,296 |
Warrants to purchase common stock |  | 126 |  |  | — |  |  | 126 |  |  | — |
Convertible notes |  | 14,181 |  |  | — |  |  | 14,181 |  |  | — |
Total |  | 140,492 |  |  | 21,562 |  |  | 140,492 |  |  | 27,284 |

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