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OTHER CONSOLIDATED BALANCE SHEET COMPONENTS (CURRENT)
 6 Months Ended
Jun. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
OTHER CONSOLIDATED BALANCE SHEET COMPONENTS (CURRENT) OTHER CONSOLIDATED BALANCE SHEET COMPONENTS (CURRENT)
Other Current Assets

The following table presents the detail of other current assets (in thousands):
  June 30, 2023December 31, 2022
Inventory, net$97,949 $97,703 
Restricted cash (i)
536,733 639,780 
Processing costs receivable356,741 298,568 
Prepaid expenses140,205 141,262 
Accounts receivable, net125,509 140,508 
Loans held for investment, net of allowance for loan losses (ii)
224,306 123,959 
Other193,639 185,485 
Total$1,675,082 $1,627,265 

(i) Includes a portion invested in money market funds. Refer to Note 5, Fair Value Measurements for further details.

(ii) Refer to Note 7, Loans Held for Investment and Sale for further details.

Accrued Expenses and Other Current Liabilities

The following table presents the detail of accrued expenses and other current liabilities (in thousands):    
  June 30, 2023December 31, 2022
Accrued expenses$393,897 $382,571 
Accounts payable89,551 95,846 
Customer deposits170,475 141,893 
Accrued transaction losses (i)
62,758 64,539 
Accrued royalties79,573 63,684 
Operating lease liabilities, current57,579 66,854 
Other231,751 258,129 
Total$1,085,584 $1,073,516 

(i) The Company is exposed to potential credit losses related to transactions processed by sellers that are subsequently subject to chargebacks when the Company is unable to collect from the sellers primarily due to insolvency. Generally, the Company estimates the potential loss rates based on historical experience that is continuously adjusted for new information and incorporates, where applicable, reasonable and supportable forecasts about future expectations.

The following table summarizes the activities of the Company’s reserve for transaction losses (in thousands):
Three Months Ended
June 30,		Six Months Ended
June 30,
2023202220232022
Accrued transaction losses, beginning of the period$62,085 $53,659 $64,539 $55,167 
Provision for transaction losses24,260 28,298 49,202 49,019 
Charge-offs to accrued transaction losses(23,587)(20,122)(50,983)(42,351)
Accrued transaction losses, end of the period$62,758 $61,835 $62,758 $61,835 
In addition to amounts reflected in the table above, the Company recognized additional provision for transaction losses that was realized and written-off within the same period. The Company recorded $120.4 million and $226.2 million for the three and six months ended June 30, 2023, respectively, for such losses. The Company recorded $124.3 million and $211.7 million for the three and six months ended June 30, 2022, respectively, for such losses.OTHER CONSOLIDATED BALANCE SHEET COMPONENTS (NON-CURRENT)
Other Non-Current Assets

The following table presents the detail of other non-current assets (in thousands):
  June 30, 2023December 31, 2022
Property and equipment, net$327,869 $329,302 
Investment in non-marketable equity securities (i)
205,217 208,880 
Investment in bitcoin, net (ii)
102,479 102,303 
Restricted cash73,196 71,600 
Other123,706 101,454 
Total$832,467 $813,539 

(i) Investment in non-marketable equity securities represents the Company's investments in equity of non-public entities. These investments are measured using the measurement alternative and are therefore carried at cost, less impairment, adjusted for observable price changes from orderly transactions for identical or similar investments of the same issuer. Adjustments are recorded within other expense (income), net on the condensed consolidated statements of operations. Unrealized gains and losses were immaterial as of June 30, 2023.

(ii) As of June 30, 2023, the Company has purchased a cumulative $220.0 million in bitcoin for investment purposes. Investment in bitcoin is accounted for as an indefinite-lived intangible asset, and does not include any bitcoin held for other parties, which is further described in Note 12, Bitcoin Held for Other Parties. Investment in bitcoin is subject to impairment losses if the fair value of bitcoin decreases below the carrying value during the assessed period. Impairment losses cannot be recovered for any subsequent increase in fair value until the sale of the asset. The Company recorded no impairment losses in the three and six months ended June 30, 2023. As of June 30, 2023, the cumulative impairment charges to date were $117.7 million and the fair value of the investment in bitcoin was $244.6 million based on observable market prices, which was $142.1 million in excess of the Company's carrying value of $102.5 million after impairment charges.