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CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Cash flows from operating activities:    
Net income (loss) $ (1,341) $ 641
Income (loss) from discontinued operations, net of income taxes 2 (73)
Adjustments:    
Provision for transaction losses 96 88
Depreciation and amortization 118 134
Stock-based compensation 111 103
Loss (gain) on investments, net 14 (1)
Deferred income taxes (376) 103
Change in fair value of warrant 115 36
Realized change in fair value of shares sold in Adyen 166 0
Loss (gain) on extinguishment of debt 0 10
Changes in assets and liabilities, net of acquisition effects (272) (93)
Net cash provided by continuing operating activities 629 948
Net cash provided by (used in) discontinued operating activities (16) 94
Net cash provided by operating activities 613 1,042
Cash flows from investing activities:    
Proceeds from issuance of common stock 1 0
Purchases of property and equipment (83) (83)
Purchases of investments (5,475) (3,424)
Maturities and sales of investments 6,827 3,772
Other 3 2
Net cash provided by continuing investing activities 1,772 267
Net cash provided by (used in) discontinued investing activities 0 (2)
Net cash provided by investing activities 1,772 265
Cash flows from financing activities:    
Repurchases of common stock (1,069) (304)
Payments for taxes related to net share settlements of restricted stock units and awards (61) (20)
Payments for dividends (129) (122)
Repayment of debt (750) (1,156)
Net borrowings under commercial paper program 0 400
Net funds receivable and payable activity 56 97
Other 0 4
Net cash used in continuing financing activities (1,952) (1,101)
Net cash provided by (used in) discontinued financing activities 0 (68)
Net cash used in financing activities (1,952) (1,169)
Effect of exchange rate changes on cash, cash equivalents and restricted cash (18) (11)
Net increase in cash, cash equivalents and restricted cash 415 127
Cash, cash equivalents and restricted cash at beginning of period 1,406 1,594
Cash, cash equivalents and restricted cash at end of period 1,821 1,721
Cash, cash equivalents and restricted cash of continuing operations at end of period 1,821 1,522
Supplemental cash flow disclosures:    
Cash paid for interest 80 104
Cash paid for income taxes 35 75
Discontinued Operations, Disposed of by Sale    
Cash flows from financing activities:    
Less: Cash, cash equivalents and restricted cash of discontinued operations 0 199
Adevinta    
Adjustments:    
Change in fair value of equity investment 1,643 0
Gmarket    
Adjustments:    
Change in fair value of equity investment 182 0
KakaoBank    
Adjustments:    
Change in fair value of equity investment 91 0
Realized change in fair value of shares sold in Adyen 8 0
Cash flows from investing activities:    
Proceeds from the sale of shares in KakaoBank 27 0
Adyen    
Adjustments:    
Change in fair value of equity investment 80 0
Cash flows from investing activities:    
Proceeds from the sale of shares in Adyen $ 473 $ 0