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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Cash flows from operating activities      
Net loss $ (2,043,030) $ (1,624,157) $ (1,457,722)
Adjustments to reconcile net loss to net cash generated from operating activities:      
Allowance for credit losses 117,427 57,509 3,581
Amortization of discount on convertible notes 100,141 88,198 33,334
Amortization of intangible assets 18,350 11,694 4,849
Changes in fair value of convertible notes 0 87 472,877
Deferred income tax (975) (27,451) (4,333)
Depreciation of property and equipment 260,682 169,067 116,783
Gain on disposal of subsidiaries (1,598) (62,115) 0
Gain on re-measurement of equity interests 0 (3,003) (4,500)
Impairment loss on intangible assets 0 5,713 0
Impairment loss on inventories 6,203 4,714 2,184
Impairment loss on investments 0 61,238 1,155
Net (gain) loss on disposal of investments 12,212 (84) (129)
Net foreign exchange differences (45,214) 11,298 (292)
Net loss on debt extinguishment 2,069 24,400 0
Net unrealized loss on equity securities 30,449 24,150 0
Share-based compensation 470,324 290,246 117,069
Share of results of equity investees (5,019) (721) 3,239
Others 10,408 (1,080) (293)
Operating cash flows before changes in working capital (1,067,571) (970,297) (712,198)
Inventories (62,735) (38,528) 11,762
Accounts receivable (37,066) (174,767) (86,546)
Prepaid expenses and other assets (395,803) (527,139) (214,926)
Amounts due from related parties 2,185 (10,897) 538
Operating lease right-of-use assets (418,846) (45,203) (62,140)
Accounts payable 99,639 50,860 31,381
Accrued expenses and other payables 1,106,376 943,586 354,151
Advances from customers 93,572 92,851 34,263
Operating lease liabilities 429,366 46,352 70,901
Deferred revenue 314,048 1,162,399 637,214
Income tax payable 105,927 25,505 17,207
Amount due to related parties 39,557 1,146 (11,742)
Net cash generated from operating activities 208,649 555,868 69,865
Cash flows from investing activities      
Purchase of property and equipment (772,177) (336,274) (239,844)
Purchase of intangible assets and capitalized software costs (34,999) (20,780) (7,254)
Purchase of investments (2,505,358) (219,548) (118,462)
Proceeds from disposal of property and equipment 620 1,732 1,236
Proceeds from sale and maturity of investments 798,178 19,541 640
Distributions from investments 1,632 1,294 465
Acquisition of businesses, net of cash acquired (22,763) (92,190) 0
Disposal of subsidiaries, net of cash disposed (11,775) 15,008 0
Change in loans receivable (1,220,631) (255,695) 0
Net cash used in investing activities (3,767,273) (886,912) (363,219)
Cash flows from financing activities      
Repayment of borrowings and finance lease obligations (1,247) (31,833) (2,871)
Proceeds from borrowings 115,282 1,224 868
Proceeds from issuance of convertible notes, net 2,846,250 1,141,362 1,138,500
Transaction with non-controlling interests 0 (20,736) 0
Purchase of capped call 0 (135,700) (97,060)
Contribution by non-controlling interest 339 4,631 1,356
Payments for exchange and conversion of convertible notes (1,935) (50,009) 0
Proceeds from issuance of ordinary shares, net 4,050,055 2,970,248 1,538,802
Change in deposits payable 392,845 (146,055) 0
Net cash generated from financing activities 7,401,589 3,733,132 2,579,595
Effect of foreign exchange rate changes on cash, cash equivalents and restricted cash (58,218) 80,727 25,025
Net increase in cash, cash equivalents and restricted cash 3,784,747 3,482,815 2,311,266
Cash, cash equivalents and restricted cash at beginning of the year 7,053,393 3,570,578 1,259,312
Cash, cash equivalents and restricted cash at end of the year 10,838,140 7,053,393 3,570,578
Supplement disclosures of cash flow information:      
Income taxes paid (207,381) (144,874) (74,349)
Interest paid (44,981) (42,003) (13,501)
Supplement disclosures of non-cash activities:      
Purchase of property and equipment included in accrued expenses and other payables 38,742 1,834 (9,804)
Purchase of property and equipment included in prepayments 58,249 (83,782) 3,851
Purchase of property and equipment by exercise of exchangeable loan (20,722) 0 0
Purchase of intangible assets included in accrued expenses and other payables 183 484 (422)
Purchase of intangible assets included in prepayments (3,875) (6,638) 51
Conversion and exchange of convertible notes into ordinary shares (826,124) (464,930) (1,080,112)
Acquisition of subsidiaries by conversion of convertible notes or issuance of shares 270,733 72,000 0
Proceeds from disposal of a subsidiary included in prepaid expenses and other assets 0 12,870 0
Transfers of loans receivable to prepaid expenses and other assets $ 186 $ 8,830 $ 0