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Non-Controlling Interests
9 Months Ended
Sep. 30, 2021
Noncontrolling Interest [Abstract]  
Non-Controlling Interests
Note 15 – Non-Controlling Interests
Freight Holding
As of December 31, 2020, we owned 85% of the issued and outstanding capital stock of our subsidiary Freight Holding, or 79% on a fully-diluted basis if all shares reserved for issuance under our Freight Holding employee incentive plan were issued and outstanding. The minority stockholders of Freight Holding include: (i) holders of Freight Holding’s Series A Preferred Stock; (ii) holders of common equity awards issued under the employee equity incentive plans; and (iii) employees who hold fully vested shares.
In July 2021, we entered into a Freight Series A Preferred Stock Purchase Agreement and sold shares of Freight Holding's Series A Preferred Stock to The Public Investment Fund, which is an investor in Uber, representing 4% ownership interest on a fully diluted basis. As of September 30, 2021, we owned 80% of the issued and outstanding capital stock of Freight Holding, or 75% on a fully-diluted basis if all shares reserved for issuance under our Freight Holding employee incentive plan were issued and outstanding.
Cornershop
As of December 31, 2020, we owned 55% of the outstanding membership interests in the issued and outstanding capital stock of CS-Global, or 52% on a fully-diluted basis. In December 2020, we received approval from Mexico’s antitrust regulator to complete the CS-Mexico transaction. On January 11, 2021, CS-Global exercised a call option and acquired 100% of the outstanding equity interest in CS-Mexico, which increased the redeemable non-controlling interest. We owned 55% of CS-Mexico through our ownership interest in CS-Global. As of December 31, 2020, Cornershop’s financial results are consolidated in our consolidated financial statements given our majority ownership interest.
In August 2021, we acquired the minority shareholders' interests in CS-Global in an all-stock transaction and CS-Global became a wholly-owned subsidiary of ours. We derecognized the carrying value of redeemable non-controlling interests in CS-Global of $1.3 billion. Refer to Note 16 – Business Combinations for further information.
Divestiture of ATG Business to Aurora
On January 19, 2021, we completed the previously announced sale of our ATG Business to Aurora. As a result, our controlling interest and the non-controlling interests in the ATG Business were settled and ownership of the ATG Business transferred to Aurora. We derecognized the carrying value of non-controlling interests in the ATG Business of $1.1 billion, which included Toyota Motor North America, Inc. and DENSO International America, Inc. non-redeemable non-controlling interests of $701 million and SVF Yellow (USA) Corporation’s (or “Softbank’s”) redeemable non-controlling interests of $356 million. Refer to Note 17 – Divestiture for further information.