Uber Results Presentation Deck
Legacy auto insurance transfer
$ in Millions
Summary
Overview
James River ("JR") returned $724 million of Collateral held by insurer to trust (presented in
restricted cash)
●
On September 27, 2021, entered into an LPTA transferring automobile liability insurance risks
relating to activity on our platform between 2013 and 2019 from JR to Uber in exchange for
payment by JR of $345M
In connection with the LPTA, claims currently administered by JR will be transferred to a third-
party claims administrator for ongoing handling (the "Transferred Claims") at our expense
• The liabilities associated with the Transferred Claims were re-evaluated as of September 30,
2021, and adverse development was recognized on certain of those liabilities
During the third quarter of 2021, we recognized a $103 million charge in our condensed
consolidated statements of operations consisting of the difference between the Premium and
the assumed liabilities (including the cost of future claims administration), expenses associated
with the LPTA, and the adverse development on the Transferred Claims
Uber
Q3 2021 Earnings
*Includes loss payments, collateral adjustments, and transaction costs
**Excluded from Adjusted EBITDA. See "Legacy auto insurance transfer" adjustment in the Non-GAAP reconciliations for further reference
Significant cash movements
Return of collateral
Premium received
Other transfer related cash impacts during Q3*
Net benefits to cash/restricted cash during Q3
P&L Impact**
Cost of revenue
General & administrative
Q3'21
+$724
+$345
($41)
+$1,028
Q3'21
$101**
$2**
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