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CONSOLIDATED STATEMENT OF CASH FLOWS - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Cash flows from operating activities:      
Net income (loss) $ 1,786 $ 2,530 $ (1,017)
(Income) loss from discontinued operations, net of income taxes 6 (2) 4
Adjustments:      
Provision for transaction losses 300 286 272
Depreciation and amortization 681 696 676
Stock-based compensation 505 538 483
(Gain) loss on investments, net 0 (572) 49
(Gain) loss on sale of business 52 0 (167)
Deferred income taxes 117 (153) 1,728
Change in fair value of warrant (133) (104) 0
Other 0 19 0
Changes in assets and liabilities, net of acquisition effects      
Accounts receivable (124) (98) (195)
Other current assets 177 (143) (148)
Other non-current assets 222 108 19
Accounts payable 4 (47) 19
Accrued expenses and other liabilities (391) (437) 206
Deferred revenue 0 33 8
Income taxes payable and other tax liabilities (88) 7 1,209
Net cash provided by continuing operating activities 3,114 2,661 3,146
Net cash used in discontinued operating activities 0 (3) 0
Net cash provided by operating activities 3,114 2,658 3,146
Cash flows from investing activities:      
Purchases of property and equipment (554) (651) (666)
Purchases of investments (46,977) (28,115) (14,599)
Maturities and sales of investments 50,548 30,901 14,520
Equity investments     (50)
Proceeds from sale of equity investment in Flipkart 0 1,029 0
Acquisitions, net of cash acquired (93) (302) (34)
Other 23 32 (2)
Net cash provided by (used in) investing activities 2,787 2,894 (1,295)
Cash flows from financing activities:      
Proceeds from issuance of common stock 106 109 120
Repurchases of common stock (4,973) (4,502) (2,746)
Tax withholdings related to net share settlements of restricted stock awards and units (202) (225) (219)
Proceeds from issuance of long-term debt, net 0 0 2,484
Payments for dividends (473) 0 0
Repayment of debt (1,550) (750) (1,452)
Other 1 (30) 29
Net cash used in financing activities (7,091) (5,398) (1,784)
Effect of exchange rate changes on cash and cash equivalents (33) (75) 238
Net increase (decrease) in cash, cash equivalents and restricted cash (1,223) 79 305
Cash, cash equivalents and restricted cash at beginning of period 2,219 2,140 1,835
Cash, cash equivalents and restricted cash at end of period 996 2,219 2,140
Cash paid for:      
Interest 304 314 285
Interest on finance lease obligations 1 0 0
Income taxes 333 597 308
Noncash investing activities:      
Relinquishment of equity method investment 0 266 0
Sale of business in exchange for ownership interest in Flipkart 0 0 211
Flipkart      
Cash flows from investing activities:      
Equity investments 0 0 (514)
Paytm Mall      
Cash flows from investing activities:      
Equity investments $ (160) $ 0 $ 0