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CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Cash flows from operating activities:    
Net income $ 917 $ 709
Loss from discontinued operations, net of income taxes 2 170
Adjustments:    
Provision for transaction losses 116 134
Depreciation and amortization 334 334
Stock-based compensation 201 208
Gain on sale of investments (6) (102)
Changes in assets and liabilities, and other, net of acquisition effects (159) (406)
Net cash provided by continuing operating activities 1,405 1,047
Net cash provided by (used in) discontinued operating activities (1) 1,260
Net cash provided by operating activities 1,404 2,307
Cash flows from investing activities:    
Purchases of property and equipment (305) (297)
Purchases of investments (5,128) (3,350)
Maturities and sales of investments 3,519 3,952
Other (59) (3)
Net cash provided by (used in) continuing investing activities (1,973) 302
Net cash used in discontinued investing activities 0 (2,723)
Net cash used in investing activities (1,973) (2,421)
Cash flows from financing activities:    
Proceeds from issuance of common stock 52 146
Repurchases of common stock (1,501) (1,000)
Excess tax benefits from stock-based compensation 4 40
Tax withholdings related to net share settlements of restricted stock units and awards (77) (180)
Proceeds from issuance of long-term debt, net 2,216 0
Repayment of debt (6) 0
Other (3) 0
Net cash provided by (used in) continuing financing activities 685 (994)
Net cash provided by discontinued financing activities 0 16
Net cash provided by (used) in financing activities 685 (978)
Effect of exchange rate changes on cash and cash equivalents 53 (249)
Net increase (decrease) in cash and cash equivalents 169 (1,341)
Cash and cash equivalents at beginning of period 1,832 6,328
Cash and cash equivalents at end of period 2,001 4,987
Less: Cash and cash equivalents of discontinued operations 0 2,578
Cash and cash equivalents of continuing operations at end of period 2,001 2,409
Supplemental cash flow disclosures:    
Cash paid for interest 91 88
Cash paid for income taxes $ 84 $ 199