Cash and Cash Equivalents, Investments, and Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2022

Fair Value Disclosures [Abstract]

Schedule of Marketable Securities

The following tables present details of Wayfair’s investment securities as of June 30, 2022 and December 31, 2021:

	June 30, 2022
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Estimated Fair Value
	(in millions)
Short-term:
Investment securities	$	646	$	—	$	(2)	$	644

	December 31, 2021
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Estimated Fair Value
	(in millions)
Short-term:
Investment securities	$	693	$	—	$	—	$	693

Schedule of the Fair Value of the Company's Financial Assets Measured at Fair Value on a Recurring Basis Based on the Three-Tier Value Hierarchy

The following tables set forth the fair value of Wayfair’s financial assets measured at fair value on a recurring basis as of June 30, 2022 and December 31, 2021:

	June 30, 2022
	Level 1		Level 2		Level 3		Total
	(in millions)
Cash and cash equivalents:
Cash	$	437	$	—	$	—	$	437
Cash equivalents	657		—		—		657
Total cash and cash equivalents	1,094		—		—		1,094
Short-term investments:
Investment securities	—		644		—		644
Total	$	1,094	$	644	$	—	$	1,738

	December 31, 2021
	Level 1		Level 2		Level 3		Total
	(in millions)
Cash and cash equivalents:
Cash	$	906	$	—	$	—	$	906
Cash equivalents	800		—		—		800
Total cash and cash equivalents	1,706		—		—		1,706
Short-term investments:
Investment securities	—		693		—		693
Total	$	1,706	$	693	$	—	$	2,399