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

3 Months Ended

Mar. 31, 2024

Fair Value Disclosures [Abstract]

Schedule of Marketable Securities

The following table presents details of Wayfair’s investment securities as of March 31, 2024 and December 31, 2023:

	March 31, 2024
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Estimated Fair Value
	(in millions)
Short-term:
Investment securities	$	20	$	—	$	—	$	20
Total	$	20	$	—	$	—	$	20

	December 31, 2023
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Estimated Fair Value
	(in millions)
Short-term:
Investment securities	$	29	$	—	$	—	$	29
Total	$	29	$	—	$	—	$	29

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 March 31, 2024 and December 31, 2023:

	March 31, 2024
	Level 1		Level 2		Level 3		Total
	(in millions)
Cash and cash equivalents:
Cash	$	468	$	—	$	—	$	468
Cash equivalents	639		—		—		639
Total cash and cash equivalents	1,107		—		—		1,107
Short-term investments:
Investment securities	—		20		—		20
Certificate of deposit	30		—		—		30
Total short-term investments	30		20		—		50
Prepaid expenses and other current assets:
Certificate of deposit (1)	4		—		—		4
Total	$	1,141	$	20	$	—	$	1,161

	December 31, 2023
	Level 1		Level 2		Level 3		Total
	(in millions)
Cash and cash equivalents:
Cash	$	407	$	—	$	—	$	407
Cash equivalents	915		—		—		915
Total cash and cash equivalents	1,322		—		—		1,322
Short-term investments:
Investment securities	—		29		—		29
Prepaid expenses and other current assets:
Certificate of deposit (1)	4		—		—		4
Total	$	1,326	$	29	$	—	$	1,355

(1) The certificate of deposit is classified as restricted cash that is primarily restricted to funds held in collateral.