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CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS - USD ($)
$ in Millions
3 Months Ended 6 Months Ended 12 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Dec. 31, 2019
Cash flows from operating activities:          
Net income $ 746 $ 402 $ 4,158 $ 920  
(Income) loss from discontinued operations, net of income taxes (6) (2) (2,933) (4)  
Adjustments:          
Provision for transaction losses 93 63 195 130  
Depreciation and amortization     319 330  
Stock-based compensation     216 241  
(Gain) loss on investments, net     2 1  
Deferred income taxes     104 56  
Change in fair value of warrant     (305) (105)  
Changes in assets and liabilities, net of acquisition effects     (90) (302)  
Net cash provided by continuing operating activities     1,666 1,267  
Net cash provided by (used in) discontinued operating activities     (110) 27  
Net cash provided by operating activities     1,556 1,294  
Cash flows from investing activities:          
Purchases of property and equipment     (196) (313)  
Purchases of investments     (21,673) (24,167)  
Maturities and sales of investments     19,666 25,827  
Acquisitions, net of cash acquired     (42) (93)  
Other     39 49  
Net cash provided by (used in) continuing investing activities     (2,206) 1,303  
Net cash provided by (used in) discontinued investing activities     4,075 (17)  
Net cash provided by investing activities     1,869 1,286  
Cash flows from financing activities:          
Proceeds from issuance of common stock     50 55  
Repurchases of common stock     (4,030) (2,949)  
Payments for taxes related to net share settlements of restricted stock units and awards     (83) (119)  
Payments for dividends (112) (120) (226) (245)  
Proceeds from issuance of long-term debt, net     1,765 0  
Repayment of debt     (839) 0  
Other     (7) 0  
Net cash used in continuing financing activities     (3,370) (3,258)  
Net cash provided by (used in) discontinued financing activities     0 0  
Net cash used in financing activities     (3,370) (3,258)  
Effect of exchange rate changes on cash, cash equivalents and restricted cash     (26) (20)  
Net increase (decrease) in cash, cash equivalents and restricted cash     29 (698)  
Cash, cash equivalents and restricted cash at beginning of period     996 2,219 $ 2,219
Cash, cash equivalents and restricted cash at end of period 1,025 1,521 1,025 1,521 $ 996
Less: Cash, cash equivalents and restricted cash of discontinued operations 0 20 0 20  
Cash, cash equivalents and restricted cash of continuing operations at end of period $ 1,025 $ 1,501 1,025 1,501  
Supplemental cash flow disclosures:          
Cash paid for interest     138 154  
Cash paid for interest on financial lease obligations     1 0  
Cash paid for income taxes     $ 113 $ 220