Income Tax Expense (Benefit)
Effective Income Tax Rate (EITR)
Components of Deferred Tax Assets and Liabilities
Deferred Tax Assets and Liabilities, Classification
Adjustments to Financial Statements: Removal of Deferred Taxes
Adjusted Financial Ratios: Removal of Deferred Taxes (Summary)
Adjusted Net Profit Margin
Adjusted Total Asset Turnover
Adjusted Financial Leverage
Adjusted Return on Equity (ROE)
Adjusted Return on Assets (ROA)

Uber Technologies Inc., income tax expense (benefit), continuing operations

US$ in millions

12 months ended:	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Federal	1)	8)	—)	—)	1)
State	16)	15)	4)	11)	—)
Foreign	170)	237)	196)	63)	132)
Current tax expense	187)	260)	200)	74)	133)
Federal	11)	(251)	(76)	(97)	(77)
State	12)	(92)	19)	(7)	8)
Foreign	3)	(98)	(635)	(162)	(19)
Deferred tax expense (benefit)	26)	(441)	(692)	(266)	(88)
Provision for (benefit from) income taxes	213)	(181)	(492)	(192)	45)

Based on: 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), 10-K (reporting date: 2019-12-31).

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Item	Description	The company
Current tax expense	Amount of current income tax expense (benefit) pertaining to taxable income (loss) from continuing operations.	Uber Technologies Inc. current tax expense increased from 2021 to 2022 but then decreased significantly from 2022 to 2023.
Deferred tax expense (benefit)	Amount of deferred income tax expense (benefit) pertaining to income (loss) from continuing operations.	Uber Technologies Inc. deferred tax expense (benefit) increased from 2021 to 2022 and from 2022 to 2023.
Provision for (benefit from) income taxes	Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.	Uber Technologies Inc. provision for (benefit from) income taxes increased from 2021 to 2022 and from 2022 to 2023.

Uber Technologies Inc., effective income tax rate (EITR) reconciliation

	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Federal statutory income tax rate	21.00%	21.00%	21.00%	21.00%	21.00%
State income tax expense	1.20%	0.80%	-2.30%	-0.10%	-0.10%
Foreign rate differential	-0.40%	2.00%	10.30%	10.80%	-3.80%
Non-deductible expenses	-0.20%	-0.70%	-5.20%	-1.30%	-1.30%
Stock-based compensation	-1.90%	-1.40%	4.50%	1.30%	1.20%
Gain on convertible notes	0.00%	0.00%	0.00%	0.00%	1.10%
Federal research and development credits	-7.20%	0.60%	7.80%	2.90%	3.10%
Deferred tax on investments	-3.50%	-1.10%	48.70%	0.90%	0.00%
Entity restructuring	0.60%	-12.70%	-2.00%	-1.70%	92.30%
Change in unrecognized tax benefits	-6.80%	-8.90%	-27.80%	-3.70%	-17.00%
Valuation allowance	-2.80%	1.10%	-33.70%	-45.80%	-97.30%
US tax on foreign income	4.10%	0.60%	-10.80%	0.00%	-1.60%
Withholding taxes	9.50%	-0.30%	-0.60%	0.00%	0.00%
Tax rate change	0.00%	0.00%	22.40%	14.40%	0.00%
Other interest	-4.10%	1.70%	16.80%	3.20%	1.80%
Other, net	-0.30%	-0.80%	-1.10%	0.90%	0.10%
Effective income tax rate	9.20%	1.90%	48.00%	2.80%	-0.50%

Based on: 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), 10-K (reporting date: 2019-12-31).

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Item	Description	The company
Effective income tax rate	Percentage of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.	Uber Technologies Inc. effective income tax rate decreased from 2021 to 2022 but then slightly increased from 2022 to 2023.

Uber Technologies Inc., components of deferred tax assets and liabilities

US$ in millions

	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Net operating loss carryforwards	6,164)	6,325)	5,992)	4,949)	2,789)
Research and development credits	1,275)	1,200)	1,020)	857)	587)
Stock-based compensation	66)	45)	66)	125)	241)
Accruals and reserves	440)	402)	290)	227)	197)
Accrued legal	120)	184)	119)	95)	65)
Fixed assets and intangible assets	4,135)	4,425)	6,753)	6,936)	6,361)
Investment in partnership	—)	—)	—)	254)	331)
Lease liability	436)	478)	455)	460)	438)
Interest limitation carryforwards	876)	858)	629)	562)	—)
Capitalized research expenses	771)	304)	—)	—)	—)
Other	211)	320)	107)	58)	221)
Deferred tax assets	14,494)	14,541)	15,431)	14,523)	11,230)
Valuation allowance	(13,945)	(13,971)	(13,920)	(13,410)	(9,855)
Deferred tax assets, net of valuation allowance	549)	570)	1,511)	1,113)	1,375)
Indefinite lived deferred tax liability	(114)	—)	(1,451)	(1,502)	(1,984)
ROU assets	(301)	(354)	(334)	(322)	(366)
Other	(18)	(77)	(29)	(68)	(2)
Deferred tax liabilities	(433)	(431)	(1,814)	(1,892)	(2,352)
Net deferred tax assets (liabilities)	116)	139)	(303)	(779)	(977)

Based on: 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), 10-K (reporting date: 2019-12-31).

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Item	Description	The company
Deferred tax assets	Amount before allocation of valuation allowances of deferred tax asset attributable to deductible temporary differences and carryforwards.	Uber Technologies Inc. deferred tax assets decreased from 2021 to 2022 and from 2022 to 2023.
Deferred tax assets, net of valuation allowance	Amount after allocation of valuation allowances of deferred tax asset attributable to deductible temporary differences and carryforwards.	Uber Technologies Inc. deferred tax assets, net of valuation allowance decreased from 2021 to 2022 and from 2022 to 2023.
Net deferred tax assets (liabilities)	Amount, after allocation of valuation allowances and deferred tax liability, of deferred tax asset attributable to deductible differences and carryforwards, without jurisdictional netting.	Uber Technologies Inc. net deferred tax assets (liabilities) increased from 2021 to 2022 but then slightly decreased from 2022 to 2023.

Uber Technologies Inc., deferred tax assets and liabilities, classification

US$ in millions

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
	Deferred tax assets	172)	166)	62)	39)	50)
	Deferred tax liabilities	56)	27)	365)	818)	1,027)

Based on: 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), 10-K (reporting date: 2019-12-31).

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Item	Description	The company
Deferred tax assets	Amount, after allocation of valuation allowances and deferred tax liability, of deferred tax asset attributable to deductible differences and carryforwards, with jurisdictional netting and classified as noncurrent.	Uber Technologies Inc. deferred tax assets increased from 2021 to 2022 and from 2022 to 2023.
Deferred tax liabilities	Amount, after deferred tax asset, of deferred tax liability attributable to taxable differences, with jurisdictional netting and classified as noncurrent.	Uber Technologies Inc. deferred tax liabilities decreased from 2021 to 2022 but then slightly increased from 2022 to 2023.

Uber Technologies Inc., adjustments to financial statements

US$ in millions

	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Adjustment to Total Assets
Total assets (as reported)	38,699)	32,109)	38,774)	33,252)	31,761)
Less: Noncurrent deferred tax assets, net	172)	166)	62)	39)	50)
Total assets (adjusted)	38,527)	31,943)	38,712)	33,213)	31,711)
Adjustment to Total Liabilities
Total liabilities (as reported)	26,017)	23,605)	23,425)	19,498)	16,578)
Less: Noncurrent deferred tax liabilities, net	56)	27)	365)	818)	1,027)
Total liabilities (adjusted)	25,961)	23,578)	23,060)	18,680)	15,551)
Adjustment to Total Uber Technologies, Inc. Stockholders’ Equity
Total Uber Technologies, Inc. stockholders’ equity (as reported)	11,249)	7,340)	14,458)	12,266)	14,190)
Less: Net deferred tax assets (liabilities)	116)	139)	(303)	(779)	(977)
Total Uber Technologies, Inc. stockholders’ equity (adjusted)	11,133)	7,201)	14,761)	13,045)	15,167)
Adjustment to Net Income (loss) Attributable To Uber Technologies, Inc.
Net income (loss) attributable to Uber Technologies, Inc. (as reported)	1,887)	(9,141)	(496)	(6,768)	(8,506)
Add: Deferred income tax expense (benefit)	26)	(441)	(692)	(266)	(88)
Net income (loss) attributable to Uber Technologies, Inc. (adjusted)	1,913)	(9,582)	(1,188)	(7,034)	(8,594)

Based on: 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), 10-K (reporting date: 2019-12-31).

Uber Technologies Inc., Financial Data: Reported vs. Adjusted

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Uber Technologies Inc., adjusted financial ratios

	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Net Profit Margin
Reported net profit margin	5.06%	-28.68%	-2.84%	-60.76%	-60.13%
Adjusted net profit margin	5.13%	-30.06%	-6.81%	-63.15%	-60.75%
Total Asset Turnover
Reported total asset turnover	0.96	0.99	0.45	0.33	0.45
Adjusted total asset turnover	0.97	1.00	0.45	0.34	0.45
Financial Leverage
Reported financial leverage	3.44	4.37	2.68	2.71	2.24
Adjusted financial leverage	3.46	4.44	2.62	2.55	2.09
Return on Equity (ROE)
Reported ROE	16.77%	-124.54%	-3.43%	-55.18%	-59.94%
Adjusted ROE	17.18%	-133.06%	-8.05%	-53.92%	-56.66%
Return on Assets (ROA)
Reported ROA	4.88%	-28.47%	-1.28%	-20.35%	-26.78%
Adjusted ROA	4.97%	-30.00%	-3.07%	-21.18%	-27.10%

Based on: 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), 10-K (reporting date: 2019-12-31).

Financial ratio	Description	The company
Adjusted net profit margin	An indicator of profitability, calculated as adjusted net income divided by total revenue.	Uber Technologies Inc. adjusted net profit margin ratio deteriorated from 2021 to 2022 but then improved from 2022 to 2023 exceeding 2021 level.
Adjusted total asset turnover	An activity ratio calculated as total revenue divided by adjusted total assets.	Uber Technologies Inc. adjusted total asset turnover ratio improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023.
Adjusted financial leverage	A measure of financial leverage calculated as adjusted total assets divided by adjusted total equity. Financial leverage is the extent to which a company can effect, through the use of debt, a proportional change in the return on common equity that is greater than a given proportional change in operating income.	Uber Technologies Inc. adjusted financial leverage ratio increased from 2021 to 2022 but then slightly decreased from 2022 to 2023 not reaching 2021 level.
Adjusted ROE	A profitability ratio calculated as adjusted net income divided by adjusted shareholders’ equity.	Uber Technologies Inc. adjusted ROE deteriorated from 2021 to 2022 but then improved from 2022 to 2023 exceeding 2021 level.
Adjusted ROA	A profitability ratio calculated as adjusted net income divided by adjusted total assets.	Uber Technologies Inc. adjusted ROA deteriorated from 2021 to 2022 but then improved from 2022 to 2023 exceeding 2021 level.

Uber Technologies Inc., Financial Ratios: Reported vs. Adjusted

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	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
As Reported
Selected Financial Data (US$ in millions)
Net income (loss) attributable to Uber Technologies, Inc.	1,887)	(9,141)	(496)	(6,768)	(8,506)
Revenue	37,281)	31,877)	17,455)	11,139)	14,147)
Profitability Ratio
Net profit margin¹	5.06%	-28.68%	-2.84%	-60.76%	-60.13%
Adjusted for Deferred Taxes
Selected Financial Data (US$ in millions)
Adjusted net income (loss) attributable to Uber Technologies, Inc.	1,913)	(9,582)	(1,188)	(7,034)	(8,594)
Revenue	37,281)	31,877)	17,455)	11,139)	14,147)
Profitability Ratio
Adjusted net profit margin²	5.13%	-30.06%	-6.81%	-63.15%	-60.75%

Based on: 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), 10-K (reporting date: 2019-12-31).

2023 Calculations

¹ Net profit margin = 100 × Net income (loss) attributable to Uber Technologies, Inc. ÷ Revenue
= 100 × 1,887 ÷ 37,281 = 5.06%

² Adjusted net profit margin = 100 × Adjusted net income (loss) attributable to Uber Technologies, Inc. ÷ Revenue
= 100 × 1,913 ÷ 37,281 = 5.13%

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Profitability ratio	Description	The company
Adjusted net profit margin	An indicator of profitability, calculated as adjusted net income divided by total revenue.	Uber Technologies Inc. adjusted net profit margin ratio deteriorated from 2021 to 2022 but then improved from 2022 to 2023 exceeding 2021 level.

	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
As Reported
Selected Financial Data (US$ in millions)
Revenue	37,281)	31,877)	17,455)	11,139)	14,147)
Total assets	38,699)	32,109)	38,774)	33,252)	31,761)
Activity Ratio
Total asset turnover¹	0.96	0.99	0.45	0.33	0.45
Adjusted for Deferred Taxes
Selected Financial Data (US$ in millions)
Revenue	37,281)	31,877)	17,455)	11,139)	14,147)
Adjusted total assets	38,527)	31,943)	38,712)	33,213)	31,711)
Activity Ratio
Adjusted total asset turnover²	0.97	1.00	0.45	0.34	0.45

Based on: 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), 10-K (reporting date: 2019-12-31).

2023 Calculations

¹ Total asset turnover = Revenue ÷ Total assets
= 37,281 ÷ 38,699 = 0.96

² Adjusted total asset turnover = Revenue ÷ Adjusted total assets
= 37,281 ÷ 38,527 = 0.97

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Activity ratio	Description	The company
Adjusted total asset turnover	An activity ratio calculated as total revenue divided by adjusted total assets.	Uber Technologies Inc. adjusted total asset turnover ratio improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023.

	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
As Reported
Selected Financial Data (US$ in millions)
Total assets	38,699)	32,109)	38,774)	33,252)	31,761)
Total Uber Technologies, Inc. stockholders’ equity	11,249)	7,340)	14,458)	12,266)	14,190)
Solvency Ratio
Financial leverage¹	3.44	4.37	2.68	2.71	2.24
Adjusted for Deferred Taxes
Selected Financial Data (US$ in millions)
Adjusted total assets	38,527)	31,943)	38,712)	33,213)	31,711)
Adjusted total Uber Technologies, Inc. stockholders’ equity	11,133)	7,201)	14,761)	13,045)	15,167)
Solvency Ratio
Adjusted financial leverage²	3.46	4.44	2.62	2.55	2.09

Based on: 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), 10-K (reporting date: 2019-12-31).

2023 Calculations

¹ Financial leverage = Total assets ÷ Total Uber Technologies, Inc. stockholders’ equity
= 38,699 ÷ 11,249 = 3.44

² Adjusted financial leverage = Adjusted total assets ÷ Adjusted total Uber Technologies, Inc. stockholders’ equity
= 38,527 ÷ 11,133 = 3.46

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Solvency ratio	Description	The company
Adjusted financial leverage	A measure of financial leverage calculated as adjusted total assets divided by adjusted total equity. Financial leverage is the extent to which a company can effect, through the use of debt, a proportional change in the return on common equity that is greater than a given proportional change in operating income.	Uber Technologies Inc. adjusted financial leverage ratio increased from 2021 to 2022 but then slightly decreased from 2022 to 2023 not reaching 2021 level.

	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
As Reported
Selected Financial Data (US$ in millions)
Net income (loss) attributable to Uber Technologies, Inc.	1,887)	(9,141)	(496)	(6,768)	(8,506)
Total Uber Technologies, Inc. stockholders’ equity	11,249)	7,340)	14,458)	12,266)	14,190)
Profitability Ratio
ROE¹	16.77%	-124.54%	-3.43%	-55.18%	-59.94%
Adjusted for Deferred Taxes
Selected Financial Data (US$ in millions)
Adjusted net income (loss) attributable to Uber Technologies, Inc.	1,913)	(9,582)	(1,188)	(7,034)	(8,594)
Adjusted total Uber Technologies, Inc. stockholders’ equity	11,133)	7,201)	14,761)	13,045)	15,167)
Profitability Ratio
Adjusted ROE²	17.18%	-133.06%	-8.05%	-53.92%	-56.66%

Based on: 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), 10-K (reporting date: 2019-12-31).

2023 Calculations

¹ ROE = 100 × Net income (loss) attributable to Uber Technologies, Inc. ÷ Total Uber Technologies, Inc. stockholders’ equity
= 100 × 1,887 ÷ 11,249 = 16.77%

² Adjusted ROE = 100 × Adjusted net income (loss) attributable to Uber Technologies, Inc. ÷ Adjusted total Uber Technologies, Inc. stockholders’ equity
= 100 × 1,913 ÷ 11,133 = 17.18%

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Profitability ratio	Description	The company
Adjusted ROE	A profitability ratio calculated as adjusted net income divided by adjusted shareholders’ equity.	Uber Technologies Inc. adjusted ROE deteriorated from 2021 to 2022 but then improved from 2022 to 2023 exceeding 2021 level.

	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
As Reported
Selected Financial Data (US$ in millions)
Net income (loss) attributable to Uber Technologies, Inc.	1,887)	(9,141)	(496)	(6,768)	(8,506)
Total assets	38,699)	32,109)	38,774)	33,252)	31,761)
Profitability Ratio
ROA¹	4.88%	-28.47%	-1.28%	-20.35%	-26.78%
Adjusted for Deferred Taxes
Selected Financial Data (US$ in millions)
Adjusted net income (loss) attributable to Uber Technologies, Inc.	1,913)	(9,582)	(1,188)	(7,034)	(8,594)
Adjusted total assets	38,527)	31,943)	38,712)	33,213)	31,711)
Profitability Ratio
Adjusted ROA²	4.97%	-30.00%	-3.07%	-21.18%	-27.10%

Based on: 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), 10-K (reporting date: 2019-12-31).

2023 Calculations

¹ ROA = 100 × Net income (loss) attributable to Uber Technologies, Inc. ÷ Total assets
= 100 × 1,887 ÷ 38,699 = 4.88%

² Adjusted ROA = 100 × Adjusted net income (loss) attributable to Uber Technologies, Inc. ÷ Adjusted total assets
= 100 × 1,913 ÷ 38,527 = 4.97%

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Profitability ratio	Description	The company
Adjusted ROA	A profitability ratio calculated as adjusted net income divided by adjusted total assets.	Uber Technologies Inc. adjusted ROA deteriorated from 2021 to 2022 but then improved from 2022 to 2023 exceeding 2021 level.

Uber Technologies Inc. (NYSE:UBER)

Analysis of Income Taxes

Income Tax Expense (Benefit)

Effective Income Tax Rate (EITR)

Components of Deferred Tax Assets and Liabilities

Deferred Tax Assets and Liabilities, Classification

Adjustments to Financial Statements: Removal of Deferred Taxes

Uber Technologies Inc., Financial Data: Reported vs. Adjusted

Adjusted Financial Ratios: Removal of Deferred Taxes (Summary)

Uber Technologies Inc., Financial Ratios: Reported vs. Adjusted

Adjusted Net Profit Margin

Adjusted Total Asset Turnover

Adjusted Financial Leverage

Adjusted Return on Equity (ROE)

Adjusted Return on Assets (ROA)