Discontinued Operations (Tables)

12 Months Ended

Dec. 31, 2023

Discontinued Operations and Disposal Groups [Abstract]

Financial results of discontinued operations

Discontinued operations

The following table presents financial results from discontinued operations, net of income taxes in our consolidated statement of income for the periods indicated (in millions):

	Year ended December 31,
	2023		2022		2021 (1)(2)
eBay Korea income (loss) from discontinued operations, net of income taxes	$	—	$	—	$	2,870
Classifieds income (loss) from discontinued operations, net of income taxes	(3)		5		10,485
Other income (loss) from discontinued operations, net of income taxes (3)	(5)		—		1
Income (loss) from discontinued operations, net of income taxes	$	(8)	$	5	$	13,356

(1)Includes eBay Korea financial results through the transaction close on November 14, 2021 and the related gain on sale.

(2)Includes Classifieds financial results through the transaction close on June 24, 2021 and the related gain on sale.

(3)Includes immaterial StubHub, PayPal and Enterprise related activity.

The following table presents cash flows for discontinued operations for the periods indicated (in millions):

	Year ended December 31,
	2023		2022		2021 (1)(2)
eBay Korea net cash provided by (used in) discontinued operating activities	$	—	$	(370)	$	(25)
Classifieds net cash provided by (used in) discontinued operating activities	—		(3)		(411)
Other net cash provided by (used in) discontinued operating activities (3)	(5)		—		—
Net cash provided by (used in) discontinued operating activities	$	(5)	$	(373)	$	(436)
eBay Korea net cash provided by (used in) discontinued investing activities	$	—	$	2	$	2,611
Classifieds net cash provided by (used in) discontinued investing activities	—		—		2469
Other net cash provided by (used in) discontinued investing activities (3)	—		—		—
Net cash provided by (used in) discontinued investing activities	$	—	$	2	$	5,080
eBay Korea net cash provided by (used in) discontinued financing activities	$	—	$	—	$	25
Classifieds net cash provided by (used in) discontinued financing activities	—		—		—
Other net cash provided by (used in) discontinued financing activities (3)	—		—		—
Net cash provided by (used in) discontinued financing activities	$	—	$	—	$	25

(1)Includes eBay Korea financial results through the transaction close on November 14, 2021 and the related gain on sale.

(2)Includes Classifieds financial results through the transaction close on June 24, 2021 and the related gain on sale.

(3)Includes immaterial StubHub, PayPal and Enterprise related activity.

The following table presents the financial results of eBay Korea (in millions):

	Year ended December 31,
	2023		2022		2021 (1)
Net revenues	$	—	$	—	$	1,409
Cost of net revenues	—		—		815
Gross profit	—		—		594
Operating expenses:
Sales and marketing	—		—		529
Product development	—		—		64
General and administrative	—		—		38
Provision for transaction losses	—		—		—
Total operating expenses	—		—		631
Income (loss) from operations of discontinued operations	—		—		(37)
Interest and other, net	—		—		2
Pre-tax gain on sale	—		—		3,240
Income (loss) from discontinued operations before income taxes	—		—		3,205
Income tax benefit (provision)	—		—		(335)
Income (loss) from discontinued operations, net of income taxes	$	—	$	—	$	2,870

(1)Includes eBay Korea financial results through the transaction close on November 14, 2021 and the related gain on sale.

The following table presents the financial results of Classifieds (in millions):

	Year ended December 31,
	2023		2022		2021 (1)
Net revenues	$	—	$	—	$	565
Cost of net revenues	—		—		63
Gross profit	—		—		502
Operating expenses:
Sales and marketing	—		—		183
Product development	—		—		105
General and administrative	—		(7)		76
Provision for transaction losses	—		—		2
Total operating expenses	—		(7)		366
Income from operations of discontinued operations	—		7		136
Interest and other, net	—		—		—
Pre-tax gain on sale	—		—		12,534
Income from discontinued operations before income taxes	—		7		12,670
Income tax provision	(3)		(2)		(2,185)
Income from discontinued operations, net of income taxes	$	(3)	$	5	$	10,485

(1)Includes Classifieds financial results through the transaction close on June 24, 2021 and the related gain on sale.