Balance Sheet: Assets

The balance sheet provides creditors, investors, and analysts with information on company resources (assets) and its sources of capital (its equity and liabilities). It normally also provides information about the future earnings capacity of a company assets as well as an indication of cash flows that may come from receivables and inventories.

Assets are resources controlled by the company as a result of past events and from which future economic benefits are expected to flow to the entity.

Uber Technologies Inc., consolidated balance sheet: assets

US$ in millions

	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Cash and cash equivalents	7,105)	5,893)	4,680)	4,208)	4,295)
Short-term investments	528)	1,084)	727)	103)	—)
Restricted cash and cash equivalents	631)	545)	805)	680)	631)
Accounts receivable, net of allowance	3,827)	3,333)	3,404)	2,779)	2,439)
Prepaid expenses	408)	415)	400)	310)	459)
Other	1,494)	975)	1,281)	1,169)	995)
Prepaid expenses and other current assets	1,902)	1,390)	1,681)	1,479)	1,454)
Current assets	13,993)	12,245)	11,297)	9,249)	8,819)
Restricted cash and cash equivalents	1,911)	2,172)	1,519)	1,789)	2,879)
Restricted investments	8,874)	7,019)	4,779)	1,614)	—)
Investments	9,178)	8,460)	6,101)	4,401)	11,806)
Equity method investments	287)	302)	353)	870)	800)
Property and equipment, net	1,897)	1,952)	2,073)	2,082)	1,853)
Operating lease right-of-use assets	1,114)	1,158)	1,241)	1,449)	1,388)
Intangible assets, net	1,048)	1,125)	1,425)	1,874)	2,412)
Goodwill	8,931)	8,066)	8,151)	8,263)	8,420)
Deferred tax assets	10,951)	6,171)	170)	166)	62)
Other assets	3,618)	2,574)	1,590)	352)	335)
Non-current assets	47,809)	38,999)	27,402)	22,860)	29,955)
Total assets	61,802)	51,244)	38,699)	32,109)	38,774)

Based on: 10-K (reporting date: 2025-12-31), 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).

Total assets exhibited a fluctuating pattern over the five-year period, initially decreasing from $38.774 billion in 2021 to $32.109 billion in 2022, before increasing significantly to $61.802 billion in 2025. This overall growth was not linear, with a substantial jump between 2023 and 2025. A detailed examination of asset components reveals the drivers behind these changes.

Liquidity and Current Assets: Current assets demonstrated a consistent upward trend, increasing from $8.819 billion in 2021 to $13.993 billion in 2025. This growth was primarily fueled by increases in accounts receivable and cash and cash equivalents. Cash and cash equivalents experienced a notable rise from $4.295 billion in 2021 to $7.105 billion in 2025, suggesting improved liquidity. Short-term investments were initially absent but grew to $1.084 billion in 2024 before decreasing to $528 million in 2025. Restricted cash and cash equivalents remained relatively stable, fluctuating between $545 million and $805 million.
Non-Current Assets: Non-current assets showed a more volatile pattern. After a decrease from $29.955 billion in 2021 to $22.860 billion in 2022, they increased substantially to $47.809 billion in 2025. This increase was largely driven by significant growth in deferred tax assets and restricted investments. Deferred tax assets experienced a dramatic increase from $62 million in 2021 to $10.951 billion in 2025. Restricted investments also rose considerably, from no value in 2021 to $8.874 billion in 2025. Investments decreased from $11.806 billion in 2021 to $4.401 billion in 2022, then increased to $9.178 billion in 2025.
Fixed and Intangible Assets: Property and equipment, net, remained relatively stable, decreasing slightly from $1.853 billion in 2021 to $1.897 billion in 2025. Operating lease right-of-use assets also exhibited a gradual decline over the period. Intangible assets, net, decreased consistently from $2.412 billion in 2021 to $1.048 billion in 2025, potentially indicating amortization or impairment. Goodwill remained relatively flat, fluctuating around $8 billion, with a slight increase to $8.931 billion in 2025.
Other Assets: The 'Other assets' category showed an increasing trend, rising from $335 million in 2021 to $3.618 billion in 2025. This suggests a growing proportion of assets not categorized within the standard classifications. Prepaid expenses and other current assets also increased, from $1.454 billion in 2021 to $1.902 billion in 2025.

The substantial growth in deferred tax assets and restricted investments in the later years significantly contributed to the overall increase in total assets. The consistent growth in current assets, particularly cash and accounts receivable, indicates improved short-term financial health. The decline in intangible assets warrants further investigation to understand the underlying reasons. The increase in 'Other assets' also merits attention to determine the nature of these assets and their potential impact on the company’s financial position.

Uber Technologies Inc. (NYSE:UBER)

Balance Sheet: Assets

Assets: Selected Items

Current Assets: Selected Items