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v3.22.1

Supplemental Financial Statement Information (Tables) | 3 Months Ended
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Mar. 31, 2022
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):
| March 31, 2022
| Cost or Amortized Cost |  | Unrealized |  | Estimated Fair Value
|  | Gains |  | Losses |
Unrestricted Balances(1) |  |  |  |  |  |  |
Money market funds | $ | 10,824 |  |  | $ | — |  |  | $ | — |  |  | $ | 10,824 |
Money market deposit accounts | 115,099 |  |  | — |  |  | — |  |  | 115,099 |
Term deposits | 210,000 |  |  | — |  |  | — |  |  | 210,000 |
Certificates of deposit | 481,555 |  |  | 13 |  |  | (1,440) |  |  | 480,128 |
Commercial paper | 1,198,296 |  |  | 3 |  |  | (3,970) |  |  | 1,194,329 |
Corporate bonds | 165,693 |  |  | — |  |  | (611) |  |  | 165,082 |
U.S. government securities | 3,098 |  |  | — |  |  | (3) |  |  | 3,095 |
Total unrestricted cash equivalents and short-term investments | 2,184,565 |  |  | 16 |  |  | (6,024) |  |  | 2,178,557 |
Restricted Balances(2) |  |  |  |  |  |  |
Money market funds | 11,868 |  |  | — |  |  | — |  |  | 11,868 |
Term deposits | 5,046 |  |  | — |  |  | — |  |  | 5,046 |
Certificates of deposit | 281,852 |  |  | 3 |  |  | (775) |  |  | 281,080 |
Commercial paper | 486,896 |  |  | — |  |  | (1,854) |  |  | 485,042 |
Corporate bonds | 65,900 |  |  | — |  |  | (158) |  |  | 65,742 |
U.S. government securities | 46,300 |  |  | — |  |  | (202) |  |  | 46,098 |
Total restricted cash equivalents and investments | 897,862 |  |  | 3 |  |  | (2,989) |  |  | 894,876 |
Total unrestricted and restricted cash equivalents and investments | $ | 3,082,427 |  |  | $ | 19 |  |  | $ | (9,013) |  |  | $ | 3,073,433 |
_______________ (1)Excludes $48.1 million of cash and $9.8 million of marketable equity securities, which are included within the $2.2 billion of cash and cash equivalents and short-term investments on the condensed consolidated balance sheets. (2)Excludes $53.2 million of restricted cash, which is included within the $948.1 million of restricted cash and cash equivalents and restricted short-term investments on the condensed consolidated balance sheets. .
| December 31, 2021
| Cost or Amortized Cost |  | Unrealized |  | Estimated Fair Value
|  | Gains |  | Losses |
Unrestricted Balances(1) |  |  |  |  |  |  |
Money market funds | $ | 22,250 |  |  | $ | — |  |  | $ | — |  |  | $ | 22,250 |
Money market deposit accounts | 330,252 |  |  | — |  |  | — |  |  | 330,252 |
Term deposits | 385,000 |  |  | — |  |  | — |  |  | 385,000 |
Certificates of deposit | 505,562 |  |  | 25 |  |  | (149) |  |  | 505,438 |
Commercial paper | 806,446 |  |  | 132 |  |  | (190) |  |  | 806,388 |
Corporate bonds | 99,779 |  |  | 4 |  |  | (78) |  |  | 99,705 |
Total unrestricted cash equivalents and short-term investments | 2,149,289 |  |  | 161 |  |  | (417) |  |  | 2,149,033 |
Restricted Balances(2) |  |  |  |  |  |  |
Money market funds | 20,161 |  |  | — |  |  | — |  |  | 20,161 |
Term deposits | 5,046 |  |  | — |  |  | — |  |  | 5,046 |
Certificates of deposit | 421,243 |  |  | 35 |  |  | (134) |  |  | 421,144 |
Commercial paper | 523,616 |  |  | 43 |  |  | (169) |  |  | 523,490 |
Corporate bonds | 63,506 |  |  | — |  |  | (48) |  |  | 63,458 |
U.S. government securities | 31,745 |  |  | — |  |  | (28) |  |  | 31,717 |
Total restricted cash equivalents and investments | 1,065,317 |  |  | 78 |  |  | (379) |  |  | 1,065,016 |
Total unrestricted and restricted cash equivalents and investments | $ | 3,214,606 |  |  | $ | 239 |  |  | $ | (796) |  |  | $ | 3,214,049 |
_______________ (1)Excludes $104.8 million of cash, which is included within the $2.3 billion of cash and cash equivalents and short-term investments on the condensed consolidated balance sheets. (2)Excludes $53.7 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):
| March 31, 2022
| Estimated Fair Value |  | Unrealized Losses
Certificates of deposit | $ | 703,093 |  |  | $ | (2,215) |
Corporate bonds | 230,825 |  |  | (769) |
Commercial paper | 1,617,500 |  |  | (5,824) |
U.S. government securities | 49,192 |  |  | (205) |
Total available-for-sale debt securities in an unrealized loss position | $ | 2,600,610 |  |  | $ | (9,013) |
Schedule of accrued and other current liabilities | Accrued and other current liabilities consisted of the following as of the dates indicated (in thousands):
| March 31, 2022 |  | December 31, 2021
Legal accruals | $ | 368,640 |  |  | $ | 349,518 |
Insurance-related accruals | 345,740 |  |  | 336,340 |
Ride-related accruals | 198,807 |  |  | 196,716 |
Deferred gain related to the Reinsurance Transaction (1) | 108,053 |  |  | 52,785 |
Long-term debt, current | 55,921 |  |  | 56,264 |
Insurance claims payable and related fees | 27,985 |  |  | 33,696 |
Other | 258,873 |  |  | 239,107 |
Accrued and other current liabilities | $ | 1,364,019 |  |  | $ | 1,264,426 |
_______________ (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.
Summary of rollforward of the insurance reserve | The following table provides a rollforward of the insurance reserve for the periods presented (in thousands):
| Three Months Ended March 31,
| 2022 |  | 2021
Balance at beginning of period | $ | 1,068,628 |  |  | $ | 987,064 |
Reinsurance recoverable at beginning of period | (245,179) |  |  | — |
Additions related to: |  |  |
Reserves for current period | 55,110 |  |  | 64,468 |
Change in estimates for prior periods | — |  |  | 128,045 |
Losses paid | (102,830) |  |  | (121,161) |
Transfer of certain legacy auto insurance liabilities | — |  |  | — |
Net balance at the end of the period | 775,729 |  |  | 1,058,416 |
Add: Reinsurance recoverable at the end of the period | 290,152 |  |  | — |
Balance at end of period | $ | 1,065,881 |  |  | $ | 1,058,416 |
Schedule of 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 March 31, |  |
| 2022 |  | 2021 |  |  |  |
Interest income | $ | 2,654 |  |  | $ | 2,879 |  |  |  |  |
Gain (loss) on sale of securities, net | 1 |  |  | 701 |  |  |  |  |
Foreign currency exchange gains (losses), net | 77 |  |  | (588) |  |  |  |  |
Sublease income | 3,714 |  |  | — |  |  |  |  |
Other, net | 3,317 |  |  | 613 |  |  |  |  |
Other income (expense), net | $ | 9,763 |  |  | $ | 3,605 |  |  |  |  |

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