Supplemental Financial Statement Information

12 Months Ended

Dec. 31, 2019

Balance Sheet Components Disclosure [Abstract]

Supplemental Financial Statement Information

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):


	December 31, 2019
	Cost or Amortized Cost		Unrealized						Estimated Fair Value
					Gains		Losses
Unrestricted Balances⁽¹⁾
Money market deposit accounts	$	217,523	$	—	$	—	$	217,523
Term deposits	135,000		—		—		135,000
Certificates of deposit	1,275,750		887		(43)		1,276,594
Commercial paper	876,382		181		(68)		876,495
Corporate bonds	247,359		219		—		247,578
Total unrestricted cash equivalents and short-term investments	2,752,014		1,287		(111)		2,753,190
Restricted Balances⁽²⁾
Money market funds	19,250		—		—		19,250
Money market deposit accounts	7,884		—		—		7,884
Term deposits	7,811		—		—		7,811
Certificates of deposit	608,578		262		(12)		608,828
Commercial paper	791,087		165		(97)		791,155
Corporate bonds	75,828		80		—		75,908
Total restricted cash equivalents and investments	1,510,438		507		(109)		1,510,836
Total unrestricted and restricted cash equivalents and investments	$	4,262,452	$	1,794	$	(220)	$	4,264,026

_______________

(1)Excludes $96.9 million of cash, which is included within the $2.9 billion of cash and cash equivalents and short-term investments on the consolidated balance sheets.

(2)Excludes $56.4 million of restricted cash, which is included within the $1.6 billion of restricted cash and cash equivalents and restricted short-term investments on the consolidated balance sheets.


	December 31, 2018
	Cost or Amortized Cost		Unrealized						Estimated Fair Value
					Gains		Losses
Unrestricted Balances⁽¹⁾
Money market funds	$	38,528	$	—	$	—	$	38,528
Certificates of deposit	497,748		19		(213)		497,554
Commercial paper	1,135,092		38		(409)		1,134,721
Corporate bonds	119,043		19		(23)		119,039
Total unrestricted cash equivalents and short-term investments	1,790,411		76		(645)		1,789,842
Restricted Balances⁽²⁾
Money market funds	4,620		—		—		4,620
Certificates of deposit	307,650		41		(87)		307,604
Commercial paper	624,719		17		(227)		624,509
Corporate bonds	65,616		6		(36)		65,586
Total restricted cash equivalents and investments	1,002,605		64		(350)		1,002,319
Total unrestricted and restricted cash equivalents and investments	$	2,793,016	$	140	$	(995)	$	2,792,161

_______________

(1)Excludes $248.0 million of cash, which is included within the $2.0 billion of cash and cash equivalents and short-term investments on the consolidated balance sheets.

(2)Excludes $50.2 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 consolidated balance sheets.

The weighted-average remaining maturity of the Company’s investment portfolio was less than one year as of the periods presented. No individual security incurred continuous unrealized losses for greater than 12 months.

Property and Equipment, net

Property and equipment, net consisted of the following as of the dates indicated (in thousands):


	December 31,
	2019		2018
Bike fleet	$	124,380	$	65,985
Leasehold improvements	66,490		39,727
Computer equipment and software	14,026		11,366
Furniture and fixtures	473		262
Construction in progress	25,139		3,629
	230,508		120,969
Less: Accumulated depreciation	(41,905)		(11,712)
	$	188,603	$	109,257

Depreciation expense related to property and equipment was $37.9 million, $8.6 million, and $2.5 million for the years ended December 31, 2019, 2018 and 2017, respectively.

Accrued and Other Current Liabilities

Accrued and other current liabilities consisted of the following as of the dates indicated (in thousands):


	December 31,
	2019		2018
Ride-related accruals	$	253,840	$	188,602
Insurance-related accruals	218,161		98,062
Legal accruals	162,766		81,139
Insurance claims payable and related fees	87,357		65,897
Other	217,741		172,503
	$	939,865	$	606,203

Insurance Reserves

The following table provides a rollforward of the insurance reserve for the periods presented (in thousands):


	Year Ended December 31,
	2019		2018		2017
Beginning balance	$	810,273	$	376,538	$	131,951
Losses paid	(540,627)		(220,936)		(91,499)
Change in estimates for prior periods	219,163		3,392		—
Reserves for current period	889,653		651,279		336,086
Ending balance	$	1,378,462	$	810,273	$	376,538