Form 10-K for the Fiscal Year Ended December 31, 2020
2021-03-25 to 2021-04-09 · 1 question
· 1 letter from the SEC, 1 from the company
RevenueSegments
Note 1 - Description of Business and Summary of Significant Accounting Policies · Revenue Recognition, page 99
SEC asked
We note you have a membership or “Pass” program allowing users to unlock savings across platforms for a monthly fee. Please explain the significance of this program and your consideration of disclosing your accounting policy with regards to revenue recognition. Also, please explain how you allocate membership revenue across the segments offering this program.
UBER answered
The Company acknowledges the Staff’s comment and respectfully advises the Staff that revenue generated from membership or “Pass” programs was not material to our financial statements for the years ended December 31, 2020, 2019 or 2018; and therefore, we did not include specific accounting policy disclosure related to these programs.Read in the reply ↗Rest of the answer
The Company will continue to monitor these programs and include future accounting policy disclosures if they become material.
The Company allocates revenue generated from any “Pass” program that offers savings across segments on a proportional basis, based on usage for each segment during the related period.
In its next report
First report after the company's reply of 2021-04-06: 10-Q filed 2021-05-06 ↗, against the 10-Q filed 2020-11-06 ↗.
Tickdelta does not hold the text of both reports, so they are not compared here.
Also in this review: closing letter, 2021-04-09