Analysis of Debt
Total Debt (Carrying Amount)
Uber Technologies Inc., balance sheet: debt
US$ in millions
Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).
The financial data reveals several notable trends regarding the company's debt structure over the five-year period ending in 2024.
- Current Portion of Long-Term Debt
- This component remained relatively stable from 2020 to 2023, fluctuating slightly between 25 and 27 million US dollars. However, in 2024, there was a significant increase, surging to 1,150 million US dollars. This sharp rise suggests a substantial portion of long-term debt is maturing or reclassified as current, which may indicate upcoming repayment obligations within the next year.
- Current Finance Leases Liabilities
- These liabilities demonstrated variability but no clear upward or downward trend. Beginning at 177 million in 2020, the figure increased to 191 million in 2021, then decreased sharply to 115 million in 2022 before rising again to 156 million in 2023, and settling at 136 million in 2024. The fluctuations indicate changes in lease agreements or payments made during these years but no consistent directional movement.
- Long-Term Debt, Net of Current Portion
- This liability increased from 7,560 million US dollars in 2020 to a peak of 9,459 million in 2023, signaling an expansion in the company’s long-term borrowings. In 2024, it declined to 8,347 million, suggesting some repayment or restructuring activity reducing the long-term debt burden.
- Non-Current Finance Leases Liabilities
- The non-current finance leases liabilities showed significant volatility. Starting at 120 million in 2020, they dropped sharply to 43 million in 2021, then surged to 284 million in 2022 and rose further to 322 million in 2023, before falling to 174 million in 2024. This pattern may reflect changes in lease contracts maturity, renegotiations, or new financing arrangements related to leasing.
- Total Long-Term Debt and Finance Leases Liabilities (Carrying Amount)
- This aggregate measure trended upward from 7,884 million in 2020, reaching a peak of 9,962 million in 2023 before slightly decreasing to 9,807 million in 2024. This indicates a general increase in the overall debt and lease liabilities over the period with a modest reduction in the latest year.
Overall, the data reflects a growing long-term debt load over the analyzed period, peaking in 2023 with a slight correction in 2024. The dramatic rise in the current portion of long-term debt in 2024 is a notable development, highlighting potential liquidity considerations as significant debt comes due within a short timeframe. The fluctuations in finance lease liabilities suggest active management or changes in leasing strategies but do not markedly affect the total debt trend.
Total Debt (Fair Value)
| Dec 31, 2024 | |
|---|---|
| Selected Financial Data (US$ in millions) | |
| 2030 Senior Note | 1,200) |
| 2034 Senior Note | 1,400) |
| 2054 Senior Note | 1,200) |
| 2016 Senior Secured Term Loan | —) |
| 2018 Senior Secured Term Loan | —) |
| 2025 Refinanced Term Loan | —) |
| 2027 Refinanced Term Loan | —) |
| 2030 Refinanced Term Loan | —) |
| 2025 Senior Note | —) |
| 2026 Senior Note | —) |
| 2027 Senior Note | 713) |
| 2028 Senior Note | 505) |
| 2029 Senior Note | 1,450) |
| 2025 Convertible Notes | 1,200) |
| 2028 Convertible Notes | 1,900) |
| Total long-term debt (fair value) | 9,568) |
| Finance leases liabilities | 310) |
| Total long-term debt and finance leases liabilities (fair value) | 9,878) |
| Financial Ratio | |
| Debt, fair value to carrying amount ratio | 1.01 |
Based on: 10-K (reporting date: 2024-12-31).
Weighted-average Interest Rate on Debt
Weighted-average effective interest rate on long-term debt and finance lease liabilities: 4.03%
| Interest rate | Debt amount1 | Interest rate × Debt amount | Weighted-average interest rate2 |
|---|---|---|---|
| 4.50% | 1,250) | 56) | |
| 4.90% | 1,500) | 74) | |
| 5.40% | 1,250) | 68) | |
| 7.70% | 700) | 54) | |
| 7.00% | 500) | 35) | |
| 4.70% | 1,500) | 71) | |
| 0.20% | 1,150) | 2) | |
| 1.10% | 1,725) | 19) | |
| 6.60% | 310) | 20) | |
| Total | 9,885) | 398) | |
| 4.03% | |||
Based on: 10-K (reporting date: 2024-12-31).
1 US$ in millions
2 Weighted-average interest rate = 100 × 398 ÷ 9,885 = 4.03%