v3.22.4
Consolidated Statements of Cash Flows - USD ($)
 12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Cash Flows from Operating Activities:      
Net loss $ (2,894,000,000) $ (287,000,000) $ (462,000,000)
Adjustments to reconcile net loss to net cash used in operating activities:      
Depreciation and amortization expense 261,000,000 105,000,000 74,000,000
Goodwill impairment 847,000,000 0 0
Equity-based compensation expense 69,000,000 39,000,000 25,000,000
Loss on disposal of property and equipment 14,000,000 1,000,000 6,000,000
Provision for bad debt and valuation allowance 23,000,000 28,000,000 21,000,000
Amortization and write-off of debt issuance costs 27,000,000 11,000,000 8,000,000
Loss on early extinguishment of debt 0 0 34,000,000
Unrealized loss on warrants to acquire Root Class A common stock 80,000,000 24,000,000 0
Unrealized gain on beneficial interests in securitizations (6,000,000) (7,000,000) (9,000,000)
Changes in finance receivable related assets:      
Originations of finance receivables (7,214,000,000) (7,306,000,000) (3,579,000,000)
Proceeds from sale of finance receivables, net 6,297,000,000 7,391,000,000 3,634,000,000
Gain on loan sales (411,000,000) (717,000,000) (218,000,000)
Principal payments received on finance receivables held for sale 190,000,000 206,000,000 90,000,000
Other changes in assets and liabilities:      
Vehicle inventory 1,354,000,000 (2,086,000,000) (263,000,000)
Accounts receivable 145,000,000 (148,000,000) (43,000,000)
Other assets (83,000,000) (105,000,000) (26,000,000)
Accounts payable and accrued liabilities (46,000,000) 247,000,000 94,000,000
Operating lease right-of-use assets 21,000,000 (213,000,000) (32,000,000)
Operating lease liabilities 15,000,000 223,000,000 38,000,000
Other liabilities (13,000,000) 0 0
Net cash used in operating activities (1,324,000,000) (2,594,000,000) (608,000,000)
Cash Flows from Investing Activities:      
Purchases of property and equipment, including $0, $0, and $22, respectively, from related parties (512,000,000) (557,000,000) (360,000,000)
Proceeds from sale of property and equipment 44,000,000 0 0
Payment for acquisitions, net of cash acquired (2,196,000,000) 0 0
Purchases of investments 0 (126,000,000) 0
Principal payments received on and proceeds from sale of beneficial interests 81,000,000 56,000,000 14,000,000
Net cash used in investing activities (2,583,000,000) (627,000,000) (346,000,000)
Cash Flows from Financing Activities:      
Proceeds from short-term revolving facilities 12,982,000,000 14,600,000,000 4,429,000,000
Payments on short-term revolving facilities (13,501,000,000) (12,587,000,000) (4,958,000,000)
Proceeds from issuance of long-term debt 3,435,000,000 1,650,000,000 1,336,000,000
Payments on long-term debt (165,000,000) (73,000,000) (654,000,000)
Payments of debt issuance costs (75,000,000) (24,000,000) (29,000,000)
Net proceeds from issuance of Class A common stock 1,227,000,000 0 1,059,000,000
Proceeds from equity-based compensation plans 4,000,000 2,000,000 5,000,000
Tax withholdings related to restricted stock units and awards (8,000,000) (40,000,000) (23,000,000)
Net cash provided by financing activities 3,899,000,000 3,528,000,000 1,165,000,000
Net (decrease) increase in cash, cash equivalents and restricted cash (8,000,000) 307,000,000 211,000,000
Cash, cash equivalents, and restricted cash at beginning of period 636,000,000 329,000,000 118,000,000
Cash, cash equivalents, and restricted cash at end of period $ 628,000,000 $ 636,000,000 $ 329,000,000