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CONSOLIDATED STATEMENT OF CASH FLOWS
$ in Thousands
12 Months Ended
Dec. 31, 2021
USD ($)
Dec. 31, 2020
USD ($)
Dec. 31, 2019
USD ($)
Cash flows from operating activities:      
Net income $ 13,608,000 $ 5,667,000 $ 1,786,000
(Income) loss from discontinued operations, net of income taxes (13,356,000) (3,180,000) (353,000)
Adjustments:      
Provision for transaction losses 422,000 330,000 262,000
Depreciation and amortization 502,000 583,000 600,000
Stock-based compensation 477,000 417,000 415,000
(Gain) loss on investments, net (143,000) 2,000 0
(Gain) loss on sale of business 0 0 52,000
Deferred income taxes (680,000) 414,000 7,000
Change in fair value of warrant (357,000) (770,000) (133,000)
(Gain) loss on extinguishment of debt 10,000 0 0
Changes in assets and liabilities, net of acquisition effects      
Accounts receivable 195,000 31,000 (93,000)
Other current assets 41,000 (677,000) 91,000
Other non-current assets 188,000 141,000 190,000
Accounts payable 9,000 69,000 (11,000)
Accrued expenses and other liabilities (535,000) 209,000 (306,000)
Deferred revenue (17,000) (20,000) (1,000)
Income taxes payable and other tax liabilities (15,000) 27,000 (90,000)
Net cash provided by continuing operating activities 3,093,000 3,004,000 2,416,000
Net cash provided by (used in) discontinued operating activities (436,000) (585,000) 698,000
Net cash provided by operating activities 2,657,000 2,419,000 3,114,000
Cash flows from investing activities:      
Purchases of property and equipment (444,000) (463,000) (508,000)
Purchases of investments (22,161,000) (32,887,000) (46,966,000)
Maturities and sales of investments 18,884,000 33,129,000 50,548,000
Proceeds from sale of shares in Adevinta 2,325,000 0 0
Settlement of foreign exchange derivative instruments in equity investments 85,000 0 0
Exercise of options under warrant (110,000) 0 0
Equity investment in Paytm Mall 0 0 (160,000)
Other 4,000 42,000 (14,000)
Net cash provided by (used in) continuing investing activities (1,417,000) (179,000) 2,900,000
Net cash provided by (used in) discontinued investing activities 5,080,000 3,973,000 (113,000)
Net cash provided by investing activities 3,663,000 3,794,000 2,787,000
Cash flows from financing activities:      
Proceeds from issuance of common stock 93,000 90,000 106,000
Repurchases of common stock (7,055,000) (5,137,000) (4,973,000)
Payments for taxes related to net share settlements of restricted stock units and awards (236,000) (175,000) (202,000)
Payments for dividends (466,000) (447,000) (473,000)
Proceeds from issuance of long-term debt, net 2,478,000 1,765,000 0
Repayment of debt (1,156,000) (1,771,000) (1,550,000)
Net funds receivable and payable activity (208,000) 0 0
Other (7,000) (5,000) 5,000
Net cash (used in) continuing financing activities (6,557,000) (5,680,000) (7,087,000)
Net cash provided by (used in) discontinued financing activities 25,000 (12,000) (4,000)
Net cash (used in) financing activities (6,532,000) (5,692,000) (7,091,000)
Effect of exchange rate changes on cash, cash equivalents and restricted cash 24,000 77,000 (33,000)
Net increase (decrease) in cash, cash equivalents and restricted cash (188,000) 598,000 (1,223,000)
Cash, cash equivalents and restricted cash at beginning of period 1,594,000 996,000 2,219,000
Cash, cash equivalents and restricted cash at end of period 1,406,000 1,594,000 996,000
Cash, cash equivalents and restricted cash of continuing operations at end of period 1,406,000 1,238,000 659,000
Cash paid for:      
Interest 253,000 271,000 304,000
Income taxes 929,000 493,000 249,000
Discontinued Operations, Disposed of by Sale      
Cash flows from financing activities:      
Less: Cash, cash equivalents and restricted cash of discontinued operations 0 356,000 337,000
Adevinta      
Adjustments:      
Change in fair value of equity investment 3,070,000 0 0
Noncash investing activities:      
Equity investment 10,776,000    
Kakao Bank      
Adjustments:      
Gain on equity investment in KakaoBank (486,000) (239,000) 0
Cash flows from investing activities:      
Equity investment in Paytm Mall   (18,000)  
Paytm Mall      
Adjustments:      
Loss on impairment of equity investment in Paytm Mall 160,000 $ 0 $ 0
GMarket      
Noncash investing activities:      
Equity investment $ 728,000